Tuesday’s Recommended Links

More tears have been shed over answered prayers, than unanswered prayers.

Barack Obama has been the president of the United States for less than one month, and he is already being compared unfavorably to former President Jimmy Carter.

However, not to be outdone by Obama, the democratic congressional leadership is managing the affairs of the nation so poorly that prospects of major Republican gains in the 2010 mid-term elections look more probable by the day.

The ‘dead tree’ mainstream US news media sold Obama to gullible American voters as a messiah, but what they got instead was a pig in a poke.

Obama the Messiah is acting like President Chicken Little (aka the sky is falling!)

Obama paints bleak economic picture
President Barack Obama used his first prime-time news conference to paint an extraordinarily bleak picture of America’s future if Congress fails to move quickly to pass stimulus legislation, warning that inaction “could turn a crisis into a catastrophe… People have no idea what to do or who to turn to. They can’t pay their bills and they’ve stopped spending money,” the president said in his opening statement. More here.

The Apocalyptic Style
There is a disturbing pattern of “the apocalyptic style.” We are not just to worry about global warming, but that there will be NO more agriculture at all soon! Then President Obama says if we don’t act immediately on the stimulus, financial CATASTROPHE looms! Let me get this straight: We borrowed and spent too much under Bush, so we must borrow and spend even more under Obama to rectify things? We rushed to do the fall bailout and now rue the waste and haste, so naturally we should hastily rush to do this even bigger stimulus? And we are not just losing jobs, but 500 MILLION per month! And this from someone who recently declared that she was SAVING THE PLANET — all 6 billion plus. More here.

Unwarranted Self-Abasement
George Bush’s vigorous defense of our national security and vocal pride in our values and goodness went a long way to getting rid of the “kick me” sign liberal America has hung on our collective back. You know, that reflex of guilt and shame about our society and history, that eager rush to apologize for our presumed sins, that willingness to blame ourselves for the world’s ills and take seriously the self-interested slanders of states whose record of dysfunction and crime outstrips ours by miles. But now here comes Barack Obama, who for all his obligatory praise of America — most of it predicated on the fact that he was elected — so far seems eager to don once again the hair shirt of American sin. More here.

Barack Obama throws Joe Biden under the bus
Pity poor Joe Biden. His “there’s still a 30 percent chance we’re going to get it wrong” quote is put straight to President Barack Obama during the White House press conference just now and his boss seemed to want to say: “Vice-President Who?” As reporters started giggling, Obama came close to conceding that Biden was indeed a joke. “You know, I don’t remember exactly what Joe was referring to, not surprisingly.” More here.

IMF Says Advanced Economies Already In Depression
Saying that the advanced economies are in a state of economic depression, the International Monetary Fund’s managing director Saturday called upon the U.S. government to coordinate its banking-sector restructuring with its stimulus package. “We are already in depression … at least for advanced economies,” he told reporters at a briefing. Last week, the IMF slashed its 2009 estimate for global growth to 0.5% – its weakest expansion since World War II – from a 2.2% projection two months ago. Strauss-Kahn said there is still downside risk to global economic growth forecasts and the “worst cannot be ruled out.” More here.

THE DEPRESSION SCENARIO IS HERE: The global Depression scenario is now dominant. More here.

U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs
The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages. The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month. More here.

Geithner Bank Bailout Plan: Fiasco
Let’s start with the basics. The US banking system is insolvent. Got that? Insolvent. That does not mean every bank in the US is toast, in fact quite a few are probably just fine, and another large group is no doubt hurting and undercapitalized, but a significant portion of the very biggest banks are insolvent. And Team Obama is making up policy as they go. There is no plan. More here.

UK minister fears rise of fascism amid economic gloom
The economic crisis could spark a resurgence in the Far Right, a close ally of Gordon Brown has suggested. Ed Balls, the Children’s and Schools Secretary, said the downturn was likely to be the most serious for 100 years, and his comments appeared to raise the prospect of a return to the Far Right politics of the 1930s and the rise of Fascism. More here.

Sen. Leahy proposes truth panel (aka witch hunt) on Bush era abuses
The chairman of the Senate Judiciary Committee is proposing a “truth commission” to investigate abuses of detainees, politically inspired moves at the Justice Department, and whole range of decisions made during the Bush administration.
Sen. Patrick Leahy, D-Vt., said the primary goal of the commission would be to learn the truth rather than prosecute former officials, but said the inquiry should reach far beyond misdeeds at the Justice Department under Bush to include matters of Iraq prewar intelligence and the Defense Department. The panel he envisions would be modeled after one that investigated the apartheid regime in South Africa. It would have subpoena power but would not bring criminal charges, he said. More here.

Ruin Your Health With the Obama Stimulus Plan
No one from either party is objecting to the health provisions slipped in to the economic stimulus bill without discussion. Senators should read these provisions and vote against them because they are dangerous to your health. More here.

The mystification of change: On the media’s game of good and evil.
Could there be any ideas around about how to explain the mystery of enthusiastic consumers of American pop culture who have developed negative ideas about America? Well, I have one. Perhaps neither Mr. Arango nor his editors are frequent enough consumers of American pop culture to have noticed that much of it, especially the movies, has been exceeded in its display of relentless anti-Americanism only by the American news media—prominent among which, of course, is The New York Times itself. More likely than mere ignorance of this fact, however, is the pervasiveness of anti-Americanism in the media world generally and at the Times in particular. There it has become so much a part of the paper’s worldview under the Bushite tyranny that there can be few Times writers or editors who simply do not take it for granted when they encounter it in the popular culture—or anywhere else. More here.

Islam group urges forest fire jihad
Australia has been singled out as a target for “forest jihad” by a group of Islamic extremists urging Muslims to deliberately light bushfires as a weapon of terror. US intelligence channels earlier this year identified a website calling on Muslims in Australia, the US, Europe and Russia to “start forest fires”, claiming “scholars have justified chopping down and burning the infidels’ forests when they do the same to our lands.” The website, posted by a group called the Al-Ikhlas Islamic Network, argues in Arabic that lighting fires is an effective form of terrorism justified in Islamic law under the “eye for an eye” doctrine. The posting – which instructs jihadis to remember “forest jihad” in summer months – says fires cause economic damage and pollution, tie up security agencies and can take months to extinguish so that “this terror will haunt them for an extended period of time”. More here.


About Caracas Gringo

Representing less than 0.00000000001515152% of the world population as of 31 December 2011.
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One Response to Tuesday’s Recommended Links

  1. Charly says:

    Obama looks more like Roosevelt who by state intervention transformed what should have been a 2 years affair into one that lasted a decade and was solved only with a war. You do not wipe out a mountain of debt by creating another mountain of debt. Who has ever heard of the 1921-22 economic crisis that was in magnitude similar to the following one? Hardly nobody! Why? Because the Government did not get involved but let the market sort itself out. Anti-state, anti-war, pro-market!


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