(Obama is a FRAUD that seeks to destroy America. Obama must be stopped.) Story Reports
"The Manchurian President" uncovers a slew of radicals with whom Obama associated during his college years.
WASHINGTON, D.C. – A recently released book uncovers untold aspects of President Obama's mysterious college years, tying the politician to associates of Weather Underground founder William Ayers and to radical groups operating at the time.
The new book, "The Manchurian President: Barack Obama's ties to communists, socialists and other anti-American extremists," charges Obama has deep ties to an anti-American extremist nexus that has been instrumental not only in building his political career but in crafting current White House policy.
The book, "The Manchurian President", exposes an extremist coalition of communists, socialists and other radicals working both inside and outside the administration to draft and advance current White House policy goals.
In one of the many strange features of Obama's presidential candidacy, his 2008 campaign went to great lengths to conceal normally routine information about the candidate's college years.
The information included his first two undergraduate years at Occidental College in Los Angeles, followed by his final two years and graduation from Columbia University in New York City.
No official or unofficial records were ever made available. No college transcripts, published records, or even contemporary newspaper announcements about his education have been released.
Obama remarkably relates in his autobiography "Dreams from My Father" that, beginning at Occidental, he surrounded himself with an assortment of radicals, socialists, Marxist-Leninists, Maoists and communists.
........................................................................................
President Obama's Radical Network Exposed.
A transcript from "Hannity," May 4, 2010.
........................................................................................
SEAN HANNITY, HOST: Ever since Barack Obama arrived on the national political stage, this program has shined the spotlight on his connections to controversial figures like Jeremiah Wright and Bill Ayers. And now a new book delves deeper into the president's radical associations.
It's called "The Manchurian President: Barack Obama's Ties to Communists, Socialists and Other Anti-American Extremists."
The author, Aaron Klein, has a radio show and often writes for World Net Daily. He joins us now.
Aaron, good to see you. Thanks for being here.
AARON KLEIN, AUTHOR, "THE MANCHURIAN PRESIDENT": Thanks so much for having me.
HANNITY: Alright. Even the title, it's going to make liberals' head explode. And what we just — explain what you mean, Manchurian candidate and the title of the book?
KLEIN: I know it's a very sensational title. The book, though, is extremely well documented. We're talking about almost 900 footnotes.
And by Manchurian what we mean, we don't believe, me and my co-author, Brenda J. Elliott, we don't that Obama is a sleeper agent for communism
, which is what the original book was about.
But we document thoroughly — it's not our opinion, it's fact — that Obama is tied to an anti-American fringe nexus that was instrumental in building his political career from the beginning, all the way through now with the White House.
We expose extremists currently in the White House. And also outside helping to draft different legislation that's affecting everyday American lives.
HANNITY: I've chronicled the appointment of these "czars," Kevin Jennings and Van Jones and Holdren and Anita Dunn. I mean, one person after another; I mean, the list goes on and on. Very extreme. Most Americans don't understand this. And I've chronicled it.
Go back to the Ayers connection, for example. I always thought "just a guy in the neighborhood" was total baloney. And yet he got away with that throughout the entire campaign.
KLEIN: He did. And actually, Ayers is key. We can go back to the beginning to Obama's childhood when we found out we — it's actually exclusive to the book — that he we went to a certain Sunday school that was affiliated with the ideology of Bill Ayers. It was in Hawaii, where deserters from the Students for a Democratic Society from Bill Ayers' organization used to hole up in this church. But OK, so you can't hold him responsible for that.
And then we find out where he first met Bill Ayers, which was in 1988.
HANNITY: Right.
KLEIN: Actually. And very interestingly, in Obama's book, in "Dreams
From My Father," he talks about his first job at what's called the ABC Coalition. And he says that he was hired by a guy named Marty Kaufman. Well, Kaufman doesn't exist. It's Kellman (ph), a Marxist Alinsky-ite. And so the thing with Ayers is that it's just the beginning of a radical nexus.
HANNITY: You — and you even talk about the connection to the Nation of Islam. Does he have a relationship with Louis Farrakhan?
KLEIN: We know certainly that he attended Louie Farrakhan's Million Man March. And we know, as well, that Obama, for 20-something years, went to the Trinity United Church of Christ, where Farrakhan gave guest lectures. And we went through, actually, the church correspondence where the Nation of Islam, Louie Farrakhan, was listed many times. Actually, Obama was — they were on the cover.
HANNITY: They were on the front cover together.
KLEIN: They were on the front cover. But it goes on. The Nation of Islam actually was, in part, on Obama's payroll in Chicago in the early days.
And David Axelrod, by the way, he was — he sides with the Nation of Islam. I know everybody believes he's a Jew and he's Jewish, but he's on the board of St. Sabinas, which is in Chicago. That was where you and I were reporting during the campaign of Michael Pfleger, the guy who said that Hillary cries because she's white.
So the bottom line is that there's this extreme nexus that is currently drafting White House policies, not just when Obama was a child. It's not just when Obama was being politically mentored in college. And we actually uncover a lot of his college years in the book.
But it's here; it's now. And Americans need to understand who is drafting this key legislation and what's behind them.
HANNITY: You go into detail that these radicals actually drafted the stimulus bill, which you talk about in some detail.
Look, we're only touching the surface here.
KLEIN: Yes.
HANNITY: So I guess in a broader sense people are going to have to read the book to get the specifics. But one last important question: how radical is he?
In other words, all your research, what you've come to conclude about Barack Obama, is he far more radical than — than even people like me and others that were on this case day in and day out ever imagined?
KLEIN: Absolutely. And here's what we need to be concerned about. It's about Alinsky ideology. It's boring from within in order to bring down the U.S. capitalist system.
And we uncover in the book Obama's extensive ties to Alinsky, including during the campaign, by the way, where his first trainers were trained by those from the Midwest Academy, which is an Alinsky-ite academy. So we have to worry about boring from within to bring down the U.S. system and a capitalist system. And I believe that that is Obama's ideology.
HANNITY: Alright, Aaron Klein. Your column's often on World Net Daily. The book is on World Net Daily and now in bookstores everywhere.
KLEIN: Everywhere. Amazon.com, as well.
HANNITY: Alright. "The Manchurian President." And thanks for being with us.
Friday, June 11, 2010
The very best kept secret within the Caribbean is Rush Limbaugh's private island
(The following story is fictitious breaking news. The EIB has moved to Caye Chapel Island. Rush will live and broadcast his EIB show from his new island. The very best kept secret within the Caribbean is Rush Limbaugh's private island.) Story Reports
"The very best kept secret" within the Caribbean is the recent purchase of a private island golf resort by Rush Limbaugh. What could be better than playing golf on a private course on a private island? The island has its own landing strip and golf course. A small private island in the Caribbean, that has a dazzling course with nearly every hole beside the ocean. Along with an airstrip, yacht harbor, clubhouse and a few snazzy accommodations, this 7,000-yard links cost a staggering forty million dollars to build.
Caye Chapel Island is one of over 1,000 offshore Cayes (islands) near the country of Belize. Belize is located on the Caribbean coast of northern Central America. Just south of Mexico's Yucatán Peninsula and about a two-hour flight from Miami.
For the past twenty-one years, the island of Caye Chapel has been owned by an American industrialist named Larry Addington, who operated a small hotel, fishing lodge and a homemade nine-hole golf course. It was as laid-back a spot as you'd ever find anywhere, much of its business coming from British troops on R&R. But having envisioned an expanded course and an exclusive corporate retreat, Addington doesn't seem to have cut any corners in realizing his dream.
His two- and three-bedroom seaside villas have large dining rooms, full kitchens and rooftop verandas. Add to that a huge clubhouse, an Olympic-size pool and, in the future, Rush plans a second ocean-side pool and athletic center. The driving range is a large freshwater lake with island greens and floating range balls. To keep the grass green and the lakes full, as well as furnish guests with high-quality drinking water, generators and a reverse-osmosis system purify half a million gallons of seawater each day.
Rush admitted he felt "pretty doggone good" being the boss of his own island and golf course. "The joy I will get out of the course is sharing it with my wife, friends, family and business associates.
Addington, the developer of the island, also has spent a king's ransom for antifungal injection treatment for more than two thousand coconut palm trees to fend off the leaf-yellowing disease that has devastated so many of the Caribbean's palms. And all of that flawless grass in the fairways is a specially imported Paspalum grass, a variety that stays green even with near-constant exposure to salt air and splashing seawater.
Ten miles across the sea from Caye Chapel, in the hot spot of Belize—Ambergris Caye—, the largest island along the Belize coast, whose one town, San Pedro, has streets made of sand. Most transportation is by foot, bicycle and golf cart. Cayo Espanto, yet another private island resort is nearby.
Rush's private island is located near the country of Belize
Private Islands Online
Thursday, June 10, 2010
Defending The Indefensible
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I hope Tim Adams is telling the truth. If he is it proves obama is a FRAUD.
.........................................................................................
Defending The Indefensible
This is what obama supporters continue to do. I compare it to being on obama "crack".
No matter how bad, stupid, insane, crazy, inept or foolish obama is his supporters continue to defend the indefensible.
Their defense is in the form of deception or lies. Almost never the truth.
Everyday obama buffoons his way through the fog of his own "genius".
He reacts to questions by not answering them in a direct manner.
He delays making important decisions and then makes decisions that make things worse, not better.
The community organizer and appeaser makes excuses for his ineptness and unfailing lack of ability to lead. Obama organizes and calls for a committee. No action, just a consensus to agree to do something.
Everything is race to obama. America has given obama a pass because he is a black man.
Obama's ability is limited to lead and function as a president.
America elected a man crippled by his affirmative action lack of education and ability to lead.
Obama is retarded by his racist outlook on America.
Obama is a crippled, retarded, racist lacking in ability to function on a rational basis.
Obama is a mentally ill person. A narcissist.
This is obama.
Cap and Trade has now been renamed The American Power Act
Cap and trade now renamed the American power act. It is a SCAM and the crime of the century
Posted by barrypopik at Red State
Maurice Strong and the Cap and Trade Crime of the Century
Cap and Trade has now been renamed “The American Power Act.”
Maurice Strong is the environmental George Soros. Most people don’t know who Maurice Strong is. You shouldn’t be one of them.
Glen Beck discussed the Chicago Climate Exchange (where Strong is a board member) about a week ago, and I’ve been waiting for Beck to return to the “Crime Inc.” topic and bring up Strong’s name. Beck did so for a segment on Wednesday. Beck then said to his audience: “You find everything you can on this man.” The “becktips at foxnews.com” address was listed on the screen. Beck warned that the internet was in the process of being scrubbed.
SCANDAL? WHAT SCANDAL? WHY SHOULD WE CARE ABOUT MAURICE STRONG? IT WASN’T IN THE PAPERS!
Glenn Beck connected the dots to the “crime of the century” over a week ago, and the MSM was silent. He showed the union leader here, and the union leader there, and the Soros-funded groups over there, and there’s Bill Ayers’ brother over here, and there’s Barack Obama. The press yawned.
This post by Newshounds Beck critic Aunty Em on May 2nd, “The Beck Week That Was;Beck Whines About The Media Ignoring His Expose Comparing Regulation To One World Government And Slavery,” sums up the MSM thinking:
The official transcript doesn’t mention a “Global Government” and “New World Order,” but Beck knows what dog whistle will have his audience baying at the moon when he lays out his new phony-boloney, connect-the-dots, conspiracy between Al Gore, Cap & Trade, Goldman Sachs, Freddie Mac and Fannie Mae and, of course, Socialist President Barack Obama. He was right in his opening, though. Not a single media outlet picked up on the story and he was left whining about it the next morning on his Radio Drama Theatre. Media Matters said other media didn’t report it, quite rightly, “Because it’s delusional and stupid, Glenn.” Simon Maloy wrote a very funny article, well worth reading for yourselves.
What Beck fails to take into account, whenever he whines about one of his exposés being ignored, is how rapacious the media is at uncovering real news. Try and stop it. However, Beck would rather have the Fourth Estate connecting the dots between non-related coincidences and natural business connections, as he does, to find a conspiracy behind every bush. The simple fact is this: Even the most passionate Obama-loving reporter would chase a real story that could bring down the Obama administration, because journalists covet Pulitzer Prizes more than administration gratitude. If there were any reality to a single one of ‘Jimmy Olsen’ Beck’s Big Scoops, a real reporter would jump on the story faster than he could jump on a chocolate éclair. No, Glenn, the deafening silence you hear is the sound of reporters ignoring nothing at all.
The Maurice Strong Wikipedia page intro is this:
Maurice F. Strong, PC, CC, OM, FRSC (born April 29, 1929) is a Canadian businessman. He is an entrepreneur, environmentalist, and one of the world’s leading proponents of the United Nations’s involvement in world affairs.
Born in Oak Lake, Manitoba, Strong had his start as a petroleum entrepreneur and became president of Power Corporation until 1966. In the early 1970s he was Secretary-General of the United Nations Conference on the Human Environment and then became the first Executive Director of the United Nations Environment Programme. He returned to Canada to become Chief Executive Officer of Petro-Canada from 1976 to 1978. He headed Ontario Hydro, one of North Americas largest power utilities, was national President and Chairman of the Extension Committee of the World Alliance of YMCAs, and headed American Water Development Incorporated.
Today Strong lives in the People’s Republic of China,[citation needed] and is President of the Council of the United Nations’s University for Peace. UPEACE is the only university in the UN system able to grant degrees at the masters and doctoral. He is an active honorary professor at Peking University and Honorary Chairman of its Environmental Foundation. He is Chairman of the Advisory Board for the Institute for Research on Security and Sustainability for Northeast Asia.[citation needed]
The short fact about Maurice Strong is that he’s a very rich man. Whether he believes the climate crap he proposes or not, it’s certain that he’ll become wealthier if governments go along with his plans. There’s a certain honesty to that. Like: “Al Gore is making $100 million off of this scam. Joe Lieberman.Lindsey Graham, what’s your excuse?”
What Maurice Strong professes top believe are things that I firmly do not believe. Maurice Strong has worked with the United Nations for a very long time and trusts it to be a leader on Cap & Trade schemes. (I believe that the United Nations is a fraud.) Maurice Strong is a socialist and believes that rich countries should share the wealth. (I don’t believe that it’s the role of any government to redistribute earned income.) Maurice Strong believes that the world is overpopulated, as Malthus predicted, and that a China one-child policy, abortions, wars, sterilization, low sperm counts and such are all good things. (I believe that my wife should have as many babies as she wants.) Maurice Strong believes in a “New World Order,” with global rules with global courts and a global currency. (See my opinions on the United Nations failed experiment when talking about anything “global.” The United States must never surrender its sovereignty.)
Maurice Strong’s views are a direct danger to the United States of America. The only “good” thing about him is that his name is now an obvious red flag to us.
Posted by barrypopik at Red State
Maurice Strong and the Cap and Trade Crime of the Century
Cap and Trade has now been renamed “The American Power Act.”
Maurice Strong is the environmental George Soros. Most people don’t know who Maurice Strong is. You shouldn’t be one of them.
Glen Beck discussed the Chicago Climate Exchange (where Strong is a board member) about a week ago, and I’ve been waiting for Beck to return to the “Crime Inc.” topic and bring up Strong’s name. Beck did so for a segment on Wednesday. Beck then said to his audience: “You find everything you can on this man.” The “becktips at foxnews.com” address was listed on the screen. Beck warned that the internet was in the process of being scrubbed.
SCANDAL? WHAT SCANDAL? WHY SHOULD WE CARE ABOUT MAURICE STRONG? IT WASN’T IN THE PAPERS!
Glenn Beck connected the dots to the “crime of the century” over a week ago, and the MSM was silent. He showed the union leader here, and the union leader there, and the Soros-funded groups over there, and there’s Bill Ayers’ brother over here, and there’s Barack Obama. The press yawned.
This post by Newshounds Beck critic Aunty Em on May 2nd, “The Beck Week That Was;Beck Whines About The Media Ignoring His Expose Comparing Regulation To One World Government And Slavery,” sums up the MSM thinking:
The official transcript doesn’t mention a “Global Government” and “New World Order,” but Beck knows what dog whistle will have his audience baying at the moon when he lays out his new phony-boloney, connect-the-dots, conspiracy between Al Gore, Cap & Trade, Goldman Sachs, Freddie Mac and Fannie Mae and, of course, Socialist President Barack Obama. He was right in his opening, though. Not a single media outlet picked up on the story and he was left whining about it the next morning on his Radio Drama Theatre. Media Matters said other media didn’t report it, quite rightly, “Because it’s delusional and stupid, Glenn.” Simon Maloy wrote a very funny article, well worth reading for yourselves.
What Beck fails to take into account, whenever he whines about one of his exposés being ignored, is how rapacious the media is at uncovering real news. Try and stop it. However, Beck would rather have the Fourth Estate connecting the dots between non-related coincidences and natural business connections, as he does, to find a conspiracy behind every bush. The simple fact is this: Even the most passionate Obama-loving reporter would chase a real story that could bring down the Obama administration, because journalists covet Pulitzer Prizes more than administration gratitude. If there were any reality to a single one of ‘Jimmy Olsen’ Beck’s Big Scoops, a real reporter would jump on the story faster than he could jump on a chocolate éclair. No, Glenn, the deafening silence you hear is the sound of reporters ignoring nothing at all.
The Maurice Strong Wikipedia page intro is this:
Maurice F. Strong, PC, CC, OM, FRSC (born April 29, 1929) is a Canadian businessman. He is an entrepreneur, environmentalist, and one of the world’s leading proponents of the United Nations’s involvement in world affairs.
Born in Oak Lake, Manitoba, Strong had his start as a petroleum entrepreneur and became president of Power Corporation until 1966. In the early 1970s he was Secretary-General of the United Nations Conference on the Human Environment and then became the first Executive Director of the United Nations Environment Programme. He returned to Canada to become Chief Executive Officer of Petro-Canada from 1976 to 1978. He headed Ontario Hydro, one of North Americas largest power utilities, was national President and Chairman of the Extension Committee of the World Alliance of YMCAs, and headed American Water Development Incorporated.
Today Strong lives in the People’s Republic of China,[citation needed] and is President of the Council of the United Nations’s University for Peace. UPEACE is the only university in the UN system able to grant degrees at the masters and doctoral. He is an active honorary professor at Peking University and Honorary Chairman of its Environmental Foundation. He is Chairman of the Advisory Board for the Institute for Research on Security and Sustainability for Northeast Asia.[citation needed]
The short fact about Maurice Strong is that he’s a very rich man. Whether he believes the climate crap he proposes or not, it’s certain that he’ll become wealthier if governments go along with his plans. There’s a certain honesty to that. Like: “Al Gore is making $100 million off of this scam. Joe Lieberman.Lindsey Graham, what’s your excuse?”
What Maurice Strong professes top believe are things that I firmly do not believe. Maurice Strong has worked with the United Nations for a very long time and trusts it to be a leader on Cap & Trade schemes. (I believe that the United Nations is a fraud.) Maurice Strong is a socialist and believes that rich countries should share the wealth. (I don’t believe that it’s the role of any government to redistribute earned income.) Maurice Strong believes that the world is overpopulated, as Malthus predicted, and that a China one-child policy, abortions, wars, sterilization, low sperm counts and such are all good things. (I believe that my wife should have as many babies as she wants.) Maurice Strong believes in a “New World Order,” with global rules with global courts and a global currency. (See my opinions on the United Nations failed experiment when talking about anything “global.” The United States must never surrender its sovereignty.)
Maurice Strong’s views are a direct danger to the United States of America. The only “good” thing about him is that his name is now an obvious red flag to us.
Jan 1 2011 taxes will vastly increase for businesses and people
(This is why the economy has not totally collapsed. Some people know about the massive tax hikes on Jan 1, 2011. They are spending their money now before 2011. They are moving their money into safer places. They know obama is a buffoon. Obama's business model depends on BILKING people. Bilking means to defraud, cheat, or swindle. The B in BO stands for BILKING! The article by Arthur Laffer is an explanation and warning. Take heed and be aware of this excellent information.) Story Reports
Tax Hikes and the 2011 Economic Collapse
Tax Hikes and the 2011 Economic Collapse
By ARTHUR LAFFER
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives.
Likewise, who is gobsmacked when they are told that the two wealthiest Americans—Bill Gates and Warren Buffett—hold the bulk of their wealth in the nontaxed form of unrealized capital gains? The composition of wealth also responds to incentives. And it's also simple enough for most people to understand that if the government taxes people who work and pays people not to work, fewer people will work. Incentives matter.
People can also change the timing of when they earn and receive their income in response to government policies. According to a 2004 U.S. Treasury report, "high income taxpayers accelerated the receipt of wages and year-end bonuses from 1993 to 1992—over $15 billion—in order to avoid the effects of the anticipated increase in the top rate from 31% to 39.6%. At the end of 1993, taxpayers shifted wages and bonuses yet again to avoid the increase in Medicare taxes that went into effect beginning 1994."
Just remember what happened to auto sales when the cash for clunkers program ended. Or how about new housing sales when the $8,000 tax credit ended? It isn't rocket surgery, as the Ivy League professor said.
On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.
Tax rates have been and will be raised on income earned from off-shore investments. Payroll taxes are already scheduled to rise in 2013 and the Alternative Minimum Tax (AMT) will be digging deeper and deeper into middle-income taxpayers. And there's always the celebrated tax increase on Cadillac health care plans. State and local tax rates are also going up in 2011 as they did in 2010. Tax rate increases next year are everywhere.
Now, if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has. When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe "double dip" recession.
In 1981, Ronald Reagan—with bipartisan support—began the first phase in a series of tax cuts passed under the Economic Recovery Tax Act (ERTA), whereby the bulk of the tax cuts didn't take effect until Jan. 1, 1983. Reagan's delayed tax cuts were the mirror image of President Barack Obama's delayed tax rate increases. For 1981 and 1982 people deferred so much economic activity that real GDP was basically flat (i.e., no growth), and the unemployment rate rose to well over 10%.
But at the tax boundary of Jan. 1, 1983 the economy took off like a rocket, with average real growth reaching 7.5% in 1983 and 5.5% in 1984. It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.
Consider corporate profits as a share of GDP. Today, corporate profits as a share of GDP are way too high given the state of the U.S. economy. These high profits reflect the shift in income into 2010 from 2011. These profits will tumble in 2011, preceded most likely by the stock market.
In 2010, without any prepayment penalties, people can cash in their Individual Retirement Accounts (IRAs), Keough deferred income accounts and 401(k) deferred income accounts. After paying their taxes, these deferred income accounts can be rolled into Roth IRAs that provide after-tax income to their owners into the future. Given what's going to happen to tax rates, this conversion seems like a no-brainer.
The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet.
(If republicans win a majority in congress in Nov 2010 it must be their first priority to extend the Bush tax cuts beyond 2010. This is very important. This article explains why the economy now has not totally collapsed. Its just because businesses and individuals are spending money and preparing for the 2011 massive tax increase. Its not because of ANYTHING the FRAUD obama has done. Its all in spite of the fact obama is trying to destroy the US economy. ) Story Reports
Tax Hikes and the 2011 Economic Collapse
Tax Hikes and the 2011 Economic Collapse
By ARTHUR LAFFER
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
It shouldn't surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. People and businesses change the location of income based on incentives.
Likewise, who is gobsmacked when they are told that the two wealthiest Americans—Bill Gates and Warren Buffett—hold the bulk of their wealth in the nontaxed form of unrealized capital gains? The composition of wealth also responds to incentives. And it's also simple enough for most people to understand that if the government taxes people who work and pays people not to work, fewer people will work. Incentives matter.
People can also change the timing of when they earn and receive their income in response to government policies. According to a 2004 U.S. Treasury report, "high income taxpayers accelerated the receipt of wages and year-end bonuses from 1993 to 1992—over $15 billion—in order to avoid the effects of the anticipated increase in the top rate from 31% to 39.6%. At the end of 1993, taxpayers shifted wages and bonuses yet again to avoid the increase in Medicare taxes that went into effect beginning 1994."
Just remember what happened to auto sales when the cash for clunkers program ended. Or how about new housing sales when the $8,000 tax credit ended? It isn't rocket surgery, as the Ivy League professor said.
On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.
Tax rates have been and will be raised on income earned from off-shore investments. Payroll taxes are already scheduled to rise in 2013 and the Alternative Minimum Tax (AMT) will be digging deeper and deeper into middle-income taxpayers. And there's always the celebrated tax increase on Cadillac health care plans. State and local tax rates are also going up in 2011 as they did in 2010. Tax rate increases next year are everywhere.
Now, if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has. When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe "double dip" recession.
In 1981, Ronald Reagan—with bipartisan support—began the first phase in a series of tax cuts passed under the Economic Recovery Tax Act (ERTA), whereby the bulk of the tax cuts didn't take effect until Jan. 1, 1983. Reagan's delayed tax cuts were the mirror image of President Barack Obama's delayed tax rate increases. For 1981 and 1982 people deferred so much economic activity that real GDP was basically flat (i.e., no growth), and the unemployment rate rose to well over 10%.
But at the tax boundary of Jan. 1, 1983 the economy took off like a rocket, with average real growth reaching 7.5% in 1983 and 5.5% in 1984. It has always amazed me how tax cuts don't work until they take effect. Mr. Obama's experience with deferred tax rate increases will be the reverse. The economy will collapse in 2011.
Consider corporate profits as a share of GDP. Today, corporate profits as a share of GDP are way too high given the state of the U.S. economy. These high profits reflect the shift in income into 2010 from 2011. These profits will tumble in 2011, preceded most likely by the stock market.
In 2010, without any prepayment penalties, people can cash in their Individual Retirement Accounts (IRAs), Keough deferred income accounts and 401(k) deferred income accounts. After paying their taxes, these deferred income accounts can be rolled into Roth IRAs that provide after-tax income to their owners into the future. Given what's going to happen to tax rates, this conversion seems like a no-brainer.
The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet.
(If republicans win a majority in congress in Nov 2010 it must be their first priority to extend the Bush tax cuts beyond 2010. This is very important. This article explains why the economy now has not totally collapsed. Its just because businesses and individuals are spending money and preparing for the 2011 massive tax increase. Its not because of ANYTHING the FRAUD obama has done. Its all in spite of the fact obama is trying to destroy the US economy. ) Story Reports
Confirmed: There Is NO Birth Certificate For Obama In Hawaii
(Evidence abounds obama is a FRAUD. The photo above has no state seal and it says "filed with registrar" not "accepted by registrar" with the registrar's signature. Now a verified worker in an Hawaiian election office in 2008 confirms obama has NO birth certificate.) Story Reports
Joe Kovacs WMD
"There is no birth certificate," said Tim Adams, a graduate assistant who teaches English at Western Kentucky University in Bowling Green, Ky. "It's like an open secret. There isn't one. Everyone in the government there knows this."
Hawaiian officials confirmed that Adams was indeed working in their election offices during the last presidential election. "His title was senior elections clerk in 2008," said Glen Takahashi, elections administrator for the City and County of Honolulu. Takahashi also confirmed Adams' time frame at the office from spring until the month of August.
A college professor who worked as a senior elections clerk for the City and County of Honolulu in 2008 is making the stunning claim Barack Obama was definitely not born in Hawaii as the White House maintains, and that a long-form, hospital-generated birth certificate for Obama does not even exist in Hawaii.
"There is no birth certificate," said Tim Adams, a graduate assistant who teaches English at Western Kentucky University in Bowling Green, Ky. "It's like an open secret. There isn't one. Everyone in the government there knows this."
Adams, who says he's a Hillary Clinton supporter who ended up voting for John McCain when Clinton lost the Democratic nomination to Obama, told WND, "I managed the absentee-ballot office. It was my job to verify the voters' identity."
During the 2008 campaign when the issue of Obama's constitutional eligibility first arose, the elections office was inundated with requests to verify the birthplace of the U.S. senator from Illinois.
"I had direct access to the Social Security database, the national crime computer, state driver's license information, international passport information, basically just about anything you can imagine to get someone's identity," Adams explained. "I could look up what bank your home mortgage was in. I was informed by my boss that we did not have a birth record [for Obama]."
At the time, there were conflicting reports that Obama had been born at the Queen's Medical Center in Honolulu, as well as the Kapi'olani Medical Center for Women and Children across town. So Adams says his office checked with both facilities.
"They told us, 'We don't have a birth certificate for him,'" he said. "They told my supervisor, either by phone or by e-mail, neither one has a document that a doctor signed off on saying they were present at this man's birth."
To date, no Hawaiian hospital has provided documented confirmation that Obama was born at its facility.
Takahashi was asked if the elections office could check on birth records, he said, "We don't have access to that kind of records. [There's] no access to birth records."
Adams responded, "They may say, 'We don't have access to that.' The regular workers don't, the ones processing ballots; but the people in administration do. I was the one overseeing the work of the people doing the balloting."
Adams stressed, "In my professional opinion, [Obama] definitely was not born in Hawaii. I can say without a shadow of a doubt that he was not born in Hawaii because there is no legal record of him being born there. If someone called and asked about it, I could not tell them that person was born in the state."
The White House has maintained a computer-generated Certification of Live Birth, or COLB, is proof enough of Obama's Hawaiian birth, even though it has no hospital or doctor's name on it. Such documents differ from a Certificate of Live Birth which includes those details.
The White House has maintained a computer-generated Certification of Live Birth, or COLB, is proof enough of Obama's Hawaiian birth, even though it has no hospital or doctor's name on it. Such documents differ from a Certificate of Live Birth which includes those details.
"Anyone can get that [COLB]," said Adams. "They are normally given if you give birth at home or while traveling overseas. We have a lot of Asian population [in Hawaii]. It's quite common for people to come back and get that."
Last month Hawaii's Republican Gov. Linda Lingle reignited Obama's origin on a New York radio show.
"It's been an odd situation," Lingle said. "This issue kept coming up so much in the campaign, and again I think it's one of those issues that is simply a distraction from the more critical issues that are facing the country.
"So I had my health director, who is a physician by background, go personally view the birth certificate in the birth records of the Department of Health, and we issued a news release at that time saying that the president was, in fact, born at Kapi'olani Hospital in Honolulu, Hawaii. And that's just a fact and yet people continue to call up and e-mail and want to make it an issue and I think it's again a horrible distraction for the country by those people who continue this."
Although the governor now claims she issued a news release stating Kapi'olani is Obama's birthplace, the actual release said no such thing, making no reference to Kapi'olani nor any other specific location of Obama's birth.
WND asked Adams why the governor would make such assertions if a Hawaiian hospital-generated birth certificate did not exist.
"Why would they say they've seen it and not produce it? I don't know," he said. "If they said they've seen the document, then why not produce the document? There's no need to put themselves out like that. I can't even begin to think why did that except for some kind of political expediency. I'm too far down the totem pole [to know]."
"You don't have to like President Obama," he said, "but it is sad that he's going to have to go through this public pillory by the time this all comes out, that they did cover this up; and that's sad because the first African-American man to become president shouldn't have this blight on his term in office. That's what he'll get remembered for. It's sad."
Adams says he's been telling other people his information for a long time, and he's free to talk about it publicly since he no longer has any confidentiality restrictions from his former employer, the Honolulu government. People started to pay attention this week after he was briefly interviewed by James Edwards, host of a weekly radio show on WLRM Radio in Memphis, Tenn.
The Kapi'olani Medical Center trumpeted – then later concealed – a letter allegedly written by President Obama in which he ostensibly declares his birth at the facility.
Correspondent Les Kinsolving asked Press Secretary Robert Gibbs about the letter at the July 13 news briefing, Gibbs dodged the question, refusing to confirm its authenticity while belittling Kinsolving for even posing the question.
"Do all of your listeners and the listeners throughout this country the service to which any journalist owes those listeners, and that is the pursuit of the noble truth," Gibbs lectured Kinsolving. "And the noble truth is that the president was born in Hawaii, a state of the United States of America."
(What did gibbs mean by "nobel" truth. Did obama get a "nobel" prize for the "nobel truth"? The nobel truth is obama is a FRAUD and has NO birth certificate in Hawaii. It has been confirmed by Tim Adams, "I can say without a shadow of a doubt that he was not born in Hawaii because there is no legal record of him being born there. If someone called and asked about it, I could not tell them that person was born in the state."
Adams says his office checked with both facilities, Queen's Medical Center in Honolulu, as well as the Kapi'olani Medical Center for Women and Children . "They told us, 'We don't have a birth certificate for him,'" he said. "They told my supervisor, either by phone or by e-mail, neither one has a document that a doctor signed off on saying they were present at this man's birth." To date, no Hawaiian hospital has provided documented confirmation that Obama was born at its facility.) Story Reports
Adams was in Hawaii. Adam checked for obama's birth certificate. Adams checked and said obama does not have a birth certificate.
Adams has seen and confirmed obama does not have a birth certificate and is NOT a natural born citizen. Adams has confirmed obama cannot prove he was born in Hawaii using a hospital generated birth certificate. It does not exist. We know the truth know.
Its just like I have said, obama's birth certificate was fabricated out of thin air by a request from obama. Hawaii has very liberal laws about obtaining a birth certificate even if you were not born in Hawaii. There are at least 5 different ways to get a birth certificate. Obama himself could have requested a birth certificate from the Lt governor of Hawaii.
Wednesday, June 9, 2010
While you were watching the oil spill, the New York failed terrorist bombing and other critical crises, Hillary Clinton signed UN small arms treaty
While you were watching the oil spill, the New York failed terrorist bombing and other critical crises, Hillary Clinton signed the small arms treaty with the UN.
OBAMA FINDS LEGAL WAY AROUND THE 2ND AMENDMENT AND USES IT
SLIPSLIDIN
While you were watching the oil spill, the New York failed terrorist bombing and other critical crises, Hillary Clinton signed the small arms treaty with the UN. OBAMA FINDS LEGAL WAY AROUND THE 2ND AMENDMENT AND USES IT. IF THIS PASSES, THERE COULD BE WAR
On Wednesday Obama Took the First Major Step in a Plan to Ban All Firearms in the United States in the UN On Wednesday the Obama administration took its first major step in a plan to ban all firearms in the United States. The Obama administration intends to force gun control and a complete ban on all weapons for US citizens through the signing of international treaties with foreign nations. By signing international treaties on gun control, the Obama administration can use the US State Department to bypass the normal legislative process in Congress. Once the US Government signs these international treaties, all US citizens will be subject to those gun laws created by foreign governments.
These are laws that have been developed and promoted by organizations such as the United Nations and individuals such as George Soros and Michael Bloomberg. The laws are designed and intended to lead to the complete ban and confiscation of all firearms. The Obama administration is attempting to use tactics and methods of gun control that will inflict major damage to our 2nd Amendment before US citizens even understand what has happened.
Obama can appear before the public and tell them that he does not intend to pursue any legislation (United States) that will lead to new gun control laws, while cloaked in secrecy, his Secretary of State, Hillary Clinton is committing the US to international treaties and foreign gun control laws. Does that mean Obama is telling the truth? What it means is that there will be no publicized gun control debates in the media or votes in Congress.
We will wake up one morning and find that the United States has signed a treaty that prohibits firearm and ammunition manufacturers from selling to the public. We will wake up another morning and find that the US has signed a treaty that prohibits any transfer of firearm ownership. And then, we will wake up yet another morning and find that the US has signed a treaty that requires US citizens to deliver any firearm they own to the local government collection and destruction center or face imprisonment.
This has happened in other countries, past and present! THIS IS NOT A JOKE OR A FALSE WARNING.
As sure as government health care will be forced on us by the Obama administration through whatever means necessary, so will gun control.
Read the Article U.S. reverses stance on treaty to regulate arms trade WASHINGTON (Reuters)
U.S. reverses stance on treaty to regulate arms trade
The United States reversed policy on Wednesday and said it would back launching talks on a treaty to regulate arms sales as long as the talks operated by consensus, a stance critics said gave every nation a veto. The decision, announced in a statement released by the U.S. State Department, overturns the position of former President George W. Bush's administration, which had opposed such a treaty on the grounds that national controls were better.
U.S. Secretary of State Hillary Clinton said the United States would support the talks as long as the negotiating forum, the so-called Conference on the Arms Trade Treaty, "operates under the rules of consensus decision-making."
(This is a traitor representing the US. Hillary clinton is operating under obama's orders to "operate under the rules of consensus decision-making." A community organizer's way of saying if everyone in the UN agrees to disarm America it will be a valid excuse to DISARM Americans. There is a growing consensus in America our government under the control of obama is the ENEMY WITHIN that Americans must defend themselves against. This is just more proof positve that obama and his socialaist/communist comrades are preparing us for a dictatorship. Lock and load America obama is trying to disarm you.) Story Reports
OBAMA FINDS LEGAL WAY AROUND THE 2ND AMENDMENT AND USES IT
SLIPSLIDIN
While you were watching the oil spill, the New York failed terrorist bombing and other critical crises, Hillary Clinton signed the small arms treaty with the UN. OBAMA FINDS LEGAL WAY AROUND THE 2ND AMENDMENT AND USES IT. IF THIS PASSES, THERE COULD BE WAR
On Wednesday Obama Took the First Major Step in a Plan to Ban All Firearms in the United States in the UN On Wednesday the Obama administration took its first major step in a plan to ban all firearms in the United States. The Obama administration intends to force gun control and a complete ban on all weapons for US citizens through the signing of international treaties with foreign nations. By signing international treaties on gun control, the Obama administration can use the US State Department to bypass the normal legislative process in Congress. Once the US Government signs these international treaties, all US citizens will be subject to those gun laws created by foreign governments.
These are laws that have been developed and promoted by organizations such as the United Nations and individuals such as George Soros and Michael Bloomberg. The laws are designed and intended to lead to the complete ban and confiscation of all firearms. The Obama administration is attempting to use tactics and methods of gun control that will inflict major damage to our 2nd Amendment before US citizens even understand what has happened.
Obama can appear before the public and tell them that he does not intend to pursue any legislation (United States) that will lead to new gun control laws, while cloaked in secrecy, his Secretary of State, Hillary Clinton is committing the US to international treaties and foreign gun control laws. Does that mean Obama is telling the truth? What it means is that there will be no publicized gun control debates in the media or votes in Congress.
We will wake up one morning and find that the United States has signed a treaty that prohibits firearm and ammunition manufacturers from selling to the public. We will wake up another morning and find that the US has signed a treaty that prohibits any transfer of firearm ownership. And then, we will wake up yet another morning and find that the US has signed a treaty that requires US citizens to deliver any firearm they own to the local government collection and destruction center or face imprisonment.
This has happened in other countries, past and present! THIS IS NOT A JOKE OR A FALSE WARNING.
As sure as government health care will be forced on us by the Obama administration through whatever means necessary, so will gun control.
Read the Article U.S. reverses stance on treaty to regulate arms trade WASHINGTON (Reuters)
U.S. reverses stance on treaty to regulate arms trade
The United States reversed policy on Wednesday and said it would back launching talks on a treaty to regulate arms sales as long as the talks operated by consensus, a stance critics said gave every nation a veto. The decision, announced in a statement released by the U.S. State Department, overturns the position of former President George W. Bush's administration, which had opposed such a treaty on the grounds that national controls were better.
U.S. Secretary of State Hillary Clinton said the United States would support the talks as long as the negotiating forum, the so-called Conference on the Arms Trade Treaty, "operates under the rules of consensus decision-making."
(This is a traitor representing the US. Hillary clinton is operating under obama's orders to "operate under the rules of consensus decision-making." A community organizer's way of saying if everyone in the UN agrees to disarm America it will be a valid excuse to DISARM Americans. There is a growing consensus in America our government under the control of obama is the ENEMY WITHIN that Americans must defend themselves against. This is just more proof positve that obama and his socialaist/communist comrades are preparing us for a dictatorship. Lock and load America obama is trying to disarm you.) Story Reports
Janet Napolitano officially requested that the Russian Federation contribute 4 brigades of Advanced Security Forces Sep 14, 2009
Russian un troops confirmed
(Obama has been quoted as saying he is going to "kick ass" and BO is not just talking about BP he is also planning to "kick ass" to any American who resists his dictator takover.) Story Reports
While you were watching the oil spill, the New York failed terrorist bombing and other critical crises, Hillary Clinton signed the small arms treaty with the UN.
Retired flag officer of the US Army
"In my hands was a letter from Department of Homeland Security, Secretary Janet Napolitano officially requesting that the Russian Federation contribute 4 brigades of “Advanced Security Forces” as part of a larger multinational force to assist in quelling domestic violence within the United States of America. The letter was dated September 14, 2009 and signed by Secretary Napolitano."
Lt. Gen. Steven Blum Deputy commander NORTHCOM’s request for 3 – 4 Brigades of Russian troops pursuint to an agreement between the US and Russia.
...........................................................................................
The Intel Hub
Confirmed: Russian & Foreign Troops Ordered IntoU.S.
Intel Hub – Once again, a story that we broke has been confirmed. The Intel Hub has broke some of the most valuable Intel out there to date. We broke this information almost a full week ago. It has now been confirmed through multiple sources. The Intel Hub does not post anything that isn’t well researched and these revelations have proved that once again. We have contacts embedded within many factions of the government and military. The Intel we have now suggests this situation will get far more sinister over the coming weeks. Please check out our shows and website at www.TheIntelHub.com.
Patriot Resistance
PatriotResistance.com
Recent numerous reports have been circulated in various web sites and blogs about two seemingly major unusual events taking place in the U.S.
The First event involved extremely large and unusual numbers of National Guard Units in various states being called up for drills or exercises potentially for upcoming deployments. Many have speculated that these are unusual call ups because of the sheer numbers being engaged and the so-called secrecy behind them.
Many people have commented that they are simply being activated in preparation for deployments to Iraq this summer, but one ‘CONFIRMED’ report involved the Minnesota 1st Brigade Combat Team and marks the largest deployment of Minnesota military forces since World War II. This alone is highly suspicious.
The More disturbing INTEL that has hit the wire in the past couple of days is the report of large numbers of foreign troops arriving at a large naval base in San Diego, California. This report came at dusk on Wednesday May 19, 2010.
U.S. Navy vessels were spotted unloading extremely large numbers of UN and Russian troops and Equipment. They disembarked the vessels as it was still light out in plain sight. Mostly Russian troops.
Up until recently this was not confirmed, but merely rumor of a report from an undisclosed military source. Kudos to the Intel Hub!
AS OF TONIGHT MAY 24, 2010……..We here at SENTINEL COMMAND have been able to actually CONFIRM this report to be true, by means of an On-The-Ground
This is extremely important INTEL because there have been reports that U.S. Secretary Napolitano had previously requested 3 to 4 brigades of troops from the Russian government to specifically assist in the quelling of domestic civil unrest by U.S. Citizens. This was done by the Obama Administration
The arrival of these troops obviously confirms this earlier rumor, otherwise they would not be here at this particular time. Although there doesn’t appear to be any ‘immediate’ threat …….this highly unusual event does cause extreme alarm and should have us all on our toes and looking for signs that something is going to happen and happen soon.
Battle Flag
Intel Hub – As of the evening of Wednesday May 19, 2010 at dusk; an on duty undisclosed military source was in a meeting in or around 32nd street Naval Base in San Diego, CA. They heard rumbling of big ships and went to see what was going on. Navy vessels were spotted unloading many UN and Russian troops. They disembarked the vessels as it was still light out in plain sight. Mostly Russian troops. We will be providing coverage as we get it.
Russian Un Troops Confirmed
Tuesday, June 8, 2010
Reparations And Redistribution
(Obama is offering deeds in the form of obamacare and the stimulus bills. He is taking money not only out of white Americans pockets but black Americans pockets. Obamacare and the stimulus bills include provisions for taxing Americans for everything under the sun. Obama is fleecing ALL Americans not just those that obama feels should be held accountable for "tragic elements in our histoy". Personally I believe obama should pay "reparations" to Americans in the form of turning himself in and confessing his crimminal activities.) Story Reports
Reparations And Redistribution
Speaking to a gathering of minority journalists in Chicago, Obama said, "I personally would want to see our tragic history, or the tragic elements of our history, acknowledged."
"I consistently believe that when it comes to whether it's Native Americans or African-American issues or reparations, the most important thing for the U.S. government to do is not just offer words, but offer deeds."
From The Obama File
It seems to be something of an endorsement of the idea of "reparations for slavery," which is usually taken to mean cash payments. In this view, the following deeds are insufficient to balance the ledger between America and the descendants of slaves: the Civil War, the ratification of the 13th, 14th and 15th amendments, Brown v. Board of Education, the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the continuing practice of racial preferences.
This is the first direct quote I've seen where Obama clearly endorses reparations.
.........................................................................................
Leo Donofrio represents the old chrysler dealers that the thug obama robbed
Here is a past example of how the thug obama operates.
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
The White House and a spokesperson for the investment bank in question challenged the accuracy of the story.
“The charge is completely untrue,” said White House deputy press secretary Bill Burton, “and there’s obviously no evidence to suggest that this happened in any way.”
Thomas Lauria, Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case, told ABC News that Rattner suggested to an official of the boutique investment bank Perella Weinberg Partners that officials of the Obama White House would embarrass the firm for opposing the Obama administration plan, which President Obama announced Thursday, and which requires creditors to accept roughly 29 cents on the dollar for an estimated $6.8 billion owed by Chrysler.
Lauria first told the story, without naming Rattner, to Frank Beckmann on Detroit’s WJR-AM radio.
Perella Weinberg Partners, Lauria said, “was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the threat that the full force of the White House press corps would destroy its reputation if it continued to fight. That’s how hard it is to stand on this side of the fence.”
A Perella Weinberg Partners spokesperson told ABC News on Sunday that “The firm denies Mr. Lauria’s account of events.”* The spokesperson would not elaborate.
Perella Weinberg Partners, which owned Chrysler debt through its Xerion Fund, was one of Lauria’s clients in this bankruptcy, but no longer is. The firm is led by Joseph Perella. On Thursday afternoon — after the Wedneday deadline — the portfolio manager for the Xerion fund decided to join the larger four creditors who are owed roughly 70% of Chrysler’s debt and had already agreed to participate with the administration’s plan.
Those four financial institutions - JP Morgan Chase, Citigroup, Morgan Stanley, and Goldman Sachs — are recipients of up to $100 billion in federal government bailout funds, though the Obama administration insists the matters were kept completely separate.
Someone familiar with the Perella Weinberg Partners’ portfolio manager’s thinking told ABC News that the decision to go along with the government plan “was based on an assessment of investment risk and reward and nothing else.”
Lauria said his clients “are mainly fiduciaries for pension plans, college endowments, retirement plans and credit unions who invested in low yield supposedly very secure first lien debt” with Chrysler.
President Obama singled out Lauria’s clients for criticism when he announced the Chrysler plan on Thursday.
“While many stakeholders made sacrifices and worked constructively, I have to tell you some did not,” the president said. “In particular, a group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices, and they would have to make none.”
Lauria said the president’s assertion that his clients weren’t willing to make any sacrifice is false. The clients were willing to take 50 cents on the dollar from Chrysler for their debt, he said.
President Obama also said of Lauria’s clients, “I don’t stand with them. I stand with Chrysler’s employees and their families and communities. I stand with Chrysler’s management, its dealers, and its suppliers. I stand with the millions of Americans who own and want to buy Chrysler cars. I don’t stand with those who held out when everybody else is making sacrifices.”
“He stands my clients up as basically the reason Chrysler is going into bankruptcy,” Lauria said. “He wrongly says they’re not willing to make any sacrifice. And then he says he does not stand with us.”
Lauria said the president saying he doesn’t stand with his clients “kind of sounds like ‘You’re fair game.’ In whatever sense. People are scared. They have gotten death treats. Some have been told people are going to come to their houses. God forbid if some nut did something, I’m just wondering how the president would feel.”
The Miami area-based attorney describes himself as an independent, and says after waiting in line for six hours last November he ended up not voting in the presidential election. He donated $10,000 to the Democratic Senatorial Campaign Committee in 2008 and $1,000 to then-Sen. Hillary Clinton, D-NY, in 2006.
Reparations And Redistribution
Speaking to a gathering of minority journalists in Chicago, Obama said, "I personally would want to see our tragic history, or the tragic elements of our history, acknowledged."
"I consistently believe that when it comes to whether it's Native Americans or African-American issues or reparations, the most important thing for the U.S. government to do is not just offer words, but offer deeds."
From The Obama File
It seems to be something of an endorsement of the idea of "reparations for slavery," which is usually taken to mean cash payments. In this view, the following deeds are insufficient to balance the ledger between America and the descendants of slaves: the Civil War, the ratification of the 13th, 14th and 15th amendments, Brown v. Board of Education, the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the continuing practice of racial preferences.
This is the first direct quote I've seen where Obama clearly endorses reparations.
.........................................................................................
Leo Donofrio represents the old chrysler dealers that the thug obama robbed
Here is a past example of how the thug obama operates.
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
The White House and a spokesperson for the investment bank in question challenged the accuracy of the story.
“The charge is completely untrue,” said White House deputy press secretary Bill Burton, “and there’s obviously no evidence to suggest that this happened in any way.”
Thomas Lauria, Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case, told ABC News that Rattner suggested to an official of the boutique investment bank Perella Weinberg Partners that officials of the Obama White House would embarrass the firm for opposing the Obama administration plan, which President Obama announced Thursday, and which requires creditors to accept roughly 29 cents on the dollar for an estimated $6.8 billion owed by Chrysler.
Lauria first told the story, without naming Rattner, to Frank Beckmann on Detroit’s WJR-AM radio.
Perella Weinberg Partners, Lauria said, “was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the threat that the full force of the White House press corps would destroy its reputation if it continued to fight. That’s how hard it is to stand on this side of the fence.”
A Perella Weinberg Partners spokesperson told ABC News on Sunday that “The firm denies Mr. Lauria’s account of events.”* The spokesperson would not elaborate.
Perella Weinberg Partners, which owned Chrysler debt through its Xerion Fund, was one of Lauria’s clients in this bankruptcy, but no longer is. The firm is led by Joseph Perella. On Thursday afternoon — after the Wedneday deadline — the portfolio manager for the Xerion fund decided to join the larger four creditors who are owed roughly 70% of Chrysler’s debt and had already agreed to participate with the administration’s plan.
Those four financial institutions - JP Morgan Chase, Citigroup, Morgan Stanley, and Goldman Sachs — are recipients of up to $100 billion in federal government bailout funds, though the Obama administration insists the matters were kept completely separate.
Someone familiar with the Perella Weinberg Partners’ portfolio manager’s thinking told ABC News that the decision to go along with the government plan “was based on an assessment of investment risk and reward and nothing else.”
Lauria said his clients “are mainly fiduciaries for pension plans, college endowments, retirement plans and credit unions who invested in low yield supposedly very secure first lien debt” with Chrysler.
President Obama singled out Lauria’s clients for criticism when he announced the Chrysler plan on Thursday.
“While many stakeholders made sacrifices and worked constructively, I have to tell you some did not,” the president said. “In particular, a group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices, and they would have to make none.”
Lauria said the president’s assertion that his clients weren’t willing to make any sacrifice is false. The clients were willing to take 50 cents on the dollar from Chrysler for their debt, he said.
President Obama also said of Lauria’s clients, “I don’t stand with them. I stand with Chrysler’s employees and their families and communities. I stand with Chrysler’s management, its dealers, and its suppliers. I stand with the millions of Americans who own and want to buy Chrysler cars. I don’t stand with those who held out when everybody else is making sacrifices.”
“He stands my clients up as basically the reason Chrysler is going into bankruptcy,” Lauria said. “He wrongly says they’re not willing to make any sacrifice. And then he says he does not stand with us.”
Lauria said the president saying he doesn’t stand with his clients “kind of sounds like ‘You’re fair game.’ In whatever sense. People are scared. They have gotten death treats. Some have been told people are going to come to their houses. God forbid if some nut did something, I’m just wondering how the president would feel.”
The Miami area-based attorney describes himself as an independent, and says after waiting in line for six hours last November he ended up not voting in the presidential election. He donated $10,000 to the Democratic Senatorial Campaign Committee in 2008 and $1,000 to then-Sen. Hillary Clinton, D-NY, in 2006.
Why do Obama, BP refuse to use most effective method of oil cleanup?
(This is an interesting article. It is more evidence obama is destroying the economy on purpose. Obama is a FRAUD. He is a traitor. Obama has and will do anything a common thug would do. Don't you think its strange the oil pipe has not been plugged yet? Don't you find it strange obama was slow to act and when he did as the article below explains it was not the correct course of action. All this was done on purpose. Its not because obama is stupid. Obama is hell bent on doing everything in his power to take American's freedoms away. Obama will push bills through congress to take away more of our freedoms. He is a destroyer.) Story Reports
The Liberty Sphere
Conservative Examiner
Anthony G. Martin
Why do Obama, BP refuse to use most effective method of oil cleanup?
As the Gulf oil disaster closes in on the 50-day mark, the Obama Administration and BP refuse to use the most effective method of oil cleanup. The top oil barons of the world--the Saudis--have used this method to avoid a mammoth oil disaster.
And the result was swift, effective, and conclusive.
In 1993 and '94 the Saudis faced an oil spill of historic proportions in the Arabian Gulf as four leaking tankers and two oil gushers threatened to spur a catastrophic event that was 65 times worse than the Exxon-Valdez spill.
An American engineer, Nick Pozzi, was part of a task force charged with developing a solution to the looming disaster.
Pozzi had used various methods to clean up oil spills prior to this event. However, the time was short, and an effective solution was needed post-haste.
That's when Pozzi decided that the huge, empty oil tankers, sitting in the dock, could be used to simply vacuum up the oil right off of the top of the water.
The result was that 85% of the oil was recovered.
Pozzi believes that the tanker method is the fastest and most effective way of dealing with the Gulf Oil disaster, but no one in the Obama Administration or BP is willing to consider the idea. Instead, they have insisted on using untested techniques, one of which involves the use of chemical dispersants manufactured and sold by a company in which Obama cronies, Goldman Sachs, Citigroup, Hathaway-Berkshire, and BP, are heavily invested.
That company, NALCO, is also one of the so-called 'green' industries that Obama and the Leftwing favor due to its development of water purification systems.
In an interview with Esquire, Pozzi stated the following:
NICK POZZI: Keep in mind that what supertankers typically do is they sit in the middle of the ocean waiting for all the traders to come up with the right price. When they feel that the price is right, the tankers that are full, they take off, and they can be anywhere in the world in a few days. Right now there are probably 25 supertankers, waiting for orders, full of oil. So all they got to do is come to Texas, in the Gulf, unload the oil, and then turn around and suck up all this other stuff and pump it onto shore into on-shore storage. It's not rocket science. It's so simple. It's a Robinson Crusoe fix, but it works.
However, Esquire also reported that nearly FIFTY (50) super-tankers were sitting empty and ready to go, and on the cheap.
The Obama Administration and BP have totally ignored them.
In fact, BP has curiously skirted around the super-tanker solution when asked about it by reporters.
Esquire has clear evidence showing that the government has flat-out ignored or refused to consider the super-tanker method, in spite of its track-record of resounding success. Both Obama and the Coast Guard have been dragging their feet on this solution, although they have been made aware of it repeatedly.
Why?
Even Obama cheerleaders such as Chris Matthews are questioning the President's refusal to act, particularly in light of the fact that former Shell Oil executive John Hofmeister has insisted in numerous interviews that the super-tanker method should have been utilized at the very start.
It is also clear that BP and the Obama Administration could have not only used government equipment in the effort but recruited the help of all of the various oil companies. BP, obviously, could not handle the severity of this catastrophe alone. Yet it refused to request the help of other oil companies, refused to use the super-tankers to vacuum up the oil, and seemed to collude with Barack Obama to drag its feet on a real cleanup in lieu of testing out the chemical dispersants peddled by a company with dubious ties.
And it must not be overlooked that BP is much more than an oil company. The corporation is heavily invested in developing so-called 'green technology' that will supposedly replace the need for oil.
Increasingly it is beginning to appear that the Obama Administration and BP together deliberately closed their eyes, ears, and brains to fairly simple solutions that could have spared the Gulf coast from an historic catastrophe.
And that, to be blunt, is unconscionable.
(This is an interesting article. It is more evidence obama is destroying the economy on purpose. Obama is a FRAUD. He is a traitor. Obama has and will do anything a common thug would do.) Story Reports
The Liberty Sphere
Conservative Examiner
Anthony G. Martin
Why do Obama, BP refuse to use most effective method of oil cleanup?
As the Gulf oil disaster closes in on the 50-day mark, the Obama Administration and BP refuse to use the most effective method of oil cleanup. The top oil barons of the world--the Saudis--have used this method to avoid a mammoth oil disaster.
And the result was swift, effective, and conclusive.
In 1993 and '94 the Saudis faced an oil spill of historic proportions in the Arabian Gulf as four leaking tankers and two oil gushers threatened to spur a catastrophic event that was 65 times worse than the Exxon-Valdez spill.
An American engineer, Nick Pozzi, was part of a task force charged with developing a solution to the looming disaster.
Pozzi had used various methods to clean up oil spills prior to this event. However, the time was short, and an effective solution was needed post-haste.
That's when Pozzi decided that the huge, empty oil tankers, sitting in the dock, could be used to simply vacuum up the oil right off of the top of the water.
The result was that 85% of the oil was recovered.
Pozzi believes that the tanker method is the fastest and most effective way of dealing with the Gulf Oil disaster, but no one in the Obama Administration or BP is willing to consider the idea. Instead, they have insisted on using untested techniques, one of which involves the use of chemical dispersants manufactured and sold by a company in which Obama cronies, Goldman Sachs, Citigroup, Hathaway-Berkshire, and BP, are heavily invested.
That company, NALCO, is also one of the so-called 'green' industries that Obama and the Leftwing favor due to its development of water purification systems.
In an interview with Esquire, Pozzi stated the following:
NICK POZZI: Keep in mind that what supertankers typically do is they sit in the middle of the ocean waiting for all the traders to come up with the right price. When they feel that the price is right, the tankers that are full, they take off, and they can be anywhere in the world in a few days. Right now there are probably 25 supertankers, waiting for orders, full of oil. So all they got to do is come to Texas, in the Gulf, unload the oil, and then turn around and suck up all this other stuff and pump it onto shore into on-shore storage. It's not rocket science. It's so simple. It's a Robinson Crusoe fix, but it works.
However, Esquire also reported that nearly FIFTY (50) super-tankers were sitting empty and ready to go, and on the cheap.
The Obama Administration and BP have totally ignored them.
In fact, BP has curiously skirted around the super-tanker solution when asked about it by reporters.
Esquire has clear evidence showing that the government has flat-out ignored or refused to consider the super-tanker method, in spite of its track-record of resounding success. Both Obama and the Coast Guard have been dragging their feet on this solution, although they have been made aware of it repeatedly.
Why?
Even Obama cheerleaders such as Chris Matthews are questioning the President's refusal to act, particularly in light of the fact that former Shell Oil executive John Hofmeister has insisted in numerous interviews that the super-tanker method should have been utilized at the very start.
It is also clear that BP and the Obama Administration could have not only used government equipment in the effort but recruited the help of all of the various oil companies. BP, obviously, could not handle the severity of this catastrophe alone. Yet it refused to request the help of other oil companies, refused to use the super-tankers to vacuum up the oil, and seemed to collude with Barack Obama to drag its feet on a real cleanup in lieu of testing out the chemical dispersants peddled by a company with dubious ties.
And it must not be overlooked that BP is much more than an oil company. The corporation is heavily invested in developing so-called 'green technology' that will supposedly replace the need for oil.
Increasingly it is beginning to appear that the Obama Administration and BP together deliberately closed their eyes, ears, and brains to fairly simple solutions that could have spared the Gulf coast from an historic catastrophe.
And that, to be blunt, is unconscionable.
(This is an interesting article. It is more evidence obama is destroying the economy on purpose. Obama is a FRAUD. He is a traitor. Obama has and will do anything a common thug would do.) Story Reports
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