Comments on: With Obamanomics, We’re Not Even Close to $eeing Green

By: M. Simon

M. Simon — Wed, 15 Jul 2009 18:20:36 +0000

Simon’s Law:

It is unwise to attribute to malice alone that which can be attributed to malice and stupidity.

By: alex

alex — Sun, 12 Jul 2009 07:49:17 +0000

The Federal Reserve determines how US economy goes, which is not actually part of the US government. it is an entity neither public nor private. Congress turned over responsibility to this group in 1913, effectively circumventing its charged responsibility in the Constitution to manage and coin money for the Nation.

This is the greatest risk to America at this time.

The second greatest risk is mismanagement of the US Dollar ( USD ). By promoting and relying on export of the USD instead of actual trade goods, Congress has placed the Nation at great risk. This action gives China, Saudia Arabia, Japan, Russia and the EU leverage over the American economy.

In the late 1930′s the Arabian American Company was formed (ARAMCO), which today is known as Saudi Aramco. The US govt allowed this entity to be created and Exist in return for oil contraactcts to be settled in USD. This created a need for countries and companies to maintain large liquid pools of cash in the NYSE, and Other institutions and injected massive amounts of cash into the New York banking system. ( AKA New York Fed )

The problem is that today many countries want to shit away from the USD to the Euro and Chinese Dollar ( Yuan) to settle their trades. This is due to mismanagement of US dollar, and US economy. Today China has agreements with 5 Nations to settle trade with Yuan. these are smaller contracts.
However Russia, Venezuela, Iran, EU and several smaller nations are negotiating settlement of major trade pacts with China with Yuan and Euro dollars instead of USD.

If this occurs, and all indications are it is accelerating, then the US economy will no longer have a foundation to stabalize its own currency. When the USD is no longer stable, the US will have to purchase Euro’s and Yuan to maintain economic trade. This will be the last straw as US economy was only able to operate by borrowing against its taxpayers by selling Treasuries and borrowing from Federal Reserve.

These trends are what is driving the US economy at the moment. It is removing wealth and replacing with Debt across the board. When US taxpayers wake up to reality they are living in, and if enough rage to change the political machine is brought to bear, then maybe we can take back control of our own future.

By: myth buster

myth buster — Sun, 12 Jul 2009 02:05:19 +0000

I don’t think Obama is a communist; I think he’s a fascist. Communists don’t try to maintain an image of private enterprise, but fascists do. I fear that Obama’s ideas for health care will amount to another T4 project.

By: Marc Malone

Marc Malone — Sat, 11 Jul 2009 17:55:37 +0000

#30 HelenG – That’s the part that was confusing me, too. I thought the numbers were wrong, but rather, it was the phraseology.

By: Tom Blumer

Tom Blumer — Sat, 11 Jul 2009 16:57:24 +0000

#30, HelenG, there was an error between the operator and the keyboard in the paragraph you cite. I was comparing June 2008 to June 2007, and the text has been corrected.

June 2008′s relevant line was slightly ahead of June 2007. June 2009′s dropped 33% from June 2008. Thanks for catching it.

By: Gadsen

Gadsen — Sat, 11 Jul 2009 14:42:11 +0000

I have a new term for the Obama economy and I hope it catches on; “Obammunism”.

By: DanW

DanW — Sat, 11 Jul 2009 13:14:21 +0000

Very good Tom. The future of the economy can be predicted by how the POR economic plans affect the ‘income statement.’ Its that simple. All of the POR economic proposals hit the income statement and are not offset by lower taxes. In fact, the Democrats want higher taxes. This forecasts an absolute disaster for the income statement and therefore the economy.

Only abandoning the Democratic programs and lowering taxes can fix the income statement. Obama needs to fire his economic team and hire some CPAs.

By: Pat J

Pat J — Sat, 11 Jul 2009 04:14:18 +0000

Good point and very relevant in my neck of the woods. We experienced a bizarre weather phenomena in May in the form of a derecho 120 miles long and 40 miles wide. this was on top of various ice storms and lots of rain. The farmers had to deal with wet soil and downed trees.

Add to that the main area economic generator, the University is suffering from declining enrollment. Stimulus anyone?

By: Rashputin

Rashputin — Fri, 10 Jul 2009 23:55:27 +0000

It’s funny to see people ignoring the fact that Bush on multiple occasions over multiple years warned that the Fannie/Freddie crisis was coming and wanted increased regulations. It’s even funnier that people forget the, “Republicans don’t want average people to be homeowners” series of “interviews” the media went along with for several months when there were hearings, hearings where Baaknee Fwank said the Republicans were just fear mongers because there was nothing at all wrong.

Seems like no matter what people do manage to get right, they still end up buying into at least some of the revisionist history they’re fed.

have a nice day

By: HelenG

HelenG — Fri, 10 Jul 2009 23:39:56 +0000

When you say “What’s more (not shown), June 2009’s analogous figure, which consisted almost entirely of estimated payments, came in slightly above that of June 2008″ doesn’t that mean that estimated taxes for June 2009 are more than June 2008? But your figures show that June 2009′s estimated tax collections were 33% less than June 2008′s.