RANDOM THOTS – THE COLUMN

Inflation
Don’t look now, but inflation is peeking around the corner.

We are getting a very, very sharp rebound in core inflation and much more than the Fed had bargained for.”  Eric Green, chief economist at TD Securities in New York.

Overall consumer prices were up 3.6 percent from a year earlier,   Reuters

Last months drop in gasoline prices masked the increases in everything else. The wholesale price of cheese is up 23% since year end, butter 45%. Grocers are absorbing much of the price increase but that won’t prevail very long.

The debt thing
Obama says the American public is crying out for higher taxes. It’s just stubborn ideologues in Congress who are opposed to paying more income tax. He may be 45% right. That’s the number of people who pay no taxes but still enjoy benefits paid for by those who do.

The President says Congress is ignoring the will of the people by keeping taxes down. The solution is simple; add another line to the income tax form so all the unhappy people can add whatever extra amount makes them happy.

Big oil profits
ExxonMobil’s has operations in more than 100 countries around the world. The part of the business that refines and sells gasoline and diesel in the United States represents less than 3 percent – or 3 cents on the dollar – of Exxon’s total earnings. For every gallon of gasoline, diesel or finished products the company manufactured and sold in the United States in the last three months of 2010, Exxon earned a little more than 2 cents. That’s not a typo. Two cents.

Large oil companies risk capital, have big holdings confiscated by nations, transport crude from well to refinery, refine or pay for refining and transport the final product to thousands of service stations.  For that they make about 2 cents a gallon.  Federal and State governments do none of it, yet they make an average 50.1 cents per gallon in taxes.  Then the demagogues call the oil companies rapists.

SCORE – OBAMA 39, ANY REPUBLICAN 47

Gallup has just released their monthly poll of registered voters. Just 39% said they will likely vote for Obama in the 2012 election. While 47% said they would be more likely to vote for any Republican who ran against him. Eight points is a very significant spread. The Dude is in deep doodoo.

That’s not a pretty picture. How about this one – the bloom is off the rose. Obama was going to close Gitmo. He didn’t. Obama was going to end the “Bush tax cuts for the rich.” He didn’t. Obama was going to bring down unemployment. He didn’t. Obama was going to bring new transparency to government. He didn’t. Whatever you hoped for, Obama was going to change things and make it happen. He didn’t. Obama was going to raise worldwide respect for America. He didn’t. Obama was going to heal the planet, make the oceans recede and create new jobs for the jobless. He didn’t.

More and more of the President’s supporters are realizing that Yes We Can was a hollow slogan by a president who can’t. But conservatives must not become complacent. A day can be like a year in politics. It is not a time for rest. The truth is our weapon and we must continue brandishing it with fervor.

CANTOR vs. OBAMA, WHO DISSED WHOM ?

Rep. Eric Cantor (R VA) asked and was granted permission to speak at the Debt Ceiling debate organized (there’s that word again) by Barack Obama.  The Congressman spoke respectfully at all times and never interrupted the President.  But when Cantor said that the two sides remain so far apart at this point that he doubted they could get the $2.5 trillion in cuts (the latest debt increase requested by the administration) by August 2nd, the President lost his cool.

“Ronald Reagan wouldn’t sit here like this”.  “Eric, don’t call my bluff.  I’m going to the American people with this.”  Then Obama pushed back his chair and walked out.  If you grew up with siblings you will recognize this as the old “I’m tellin’ !” threat.

That’s one side of the story.  Here’s the other.  Cantor was harassing the President and interrupted him when he tried to speak.  Nancy Pelosi said “The president could not have been more gracious.  I have never seen a president spend so much time with the leadership of Congress day in and day out, respectful of their concerns.”  Cantor was acting like a cry baby because he was not getting his way.

Let’s be fair.  We don’t know what happened in that room; we weren’t there.  One thing we do know is that one hope for change was Obama promise to bring unprecedented transparency to government.  That promise was a significant factor in gaining favor with swing voters in 2008.  What we got was unprecedented concealment.

Previous presidents routinely allowed reporters to attend debates like this.  But, much to the consternation of both sides of the press, they were not allowed in the room, not even a lone reporter.  Why?  Is Obama afraid of truthful reporting?  What did he anticipate that he did not want the public to know?  Nothing in particular; stealth is just his style.

PAUL KRUGMAN’S CASH CON

This article was first published in the American Thinker blog on July 6, 2011 as Krugman’s Con. It is reprinted here with Mr.  Krugman’s statements indented for easier reading.

KRUGMAN’S CON
by Robert R. Barker

Taking Paul Krugman apart is such a simple task.  No other person can be so wrong so many times on so many things in just a single sentence.

Watching the evolution of economic discussion in Washington over the past couple of years has been a disheartening experience. Month by month, the discourse has gotten more primitive; with stunning speed, the lessons of the 2008 financial crisis have been forgotten, and the very ideas that got us into the crisis – regulation is always bad, what’s good for the bankers is good for America, tax cuts are the universal elixir – have regained their hold.

No one ever said “regulation is always bad,” except a few Democrats when they want to slander conservatives.  Good regulation is part of the Rule of Law applauded by the Right.  Only bad regulations are bad, and there are plenty of them.

No one ever said “what’s good for the banker’s is good for America.”  Here Krugman seems to be making a play on a famous comment Charlie Wilson’s made in 1955 when he was president of General Motors.  Wilson is said to have said — What’s good for General Motors is good for America.  But there’s one problem.  Wilson never said that.  What he actually said was quite the opposite — What’s good for America is good for General Motors.  It was a statement of acquiescence that the Left twisted to look like one of arrogance.  Are we to believe that the Nobel Prize winning economist didn’t know that?

No one ever said tax cuts, or the lack thereof, had anything to do with the 2008 financial crisis.  Very few voices have called for tax cuts since 2008.  What the Right argues is that raising taxes during periods of recession can be disastrous.  If the Bush tax rates had not been extended, tax rates would be higher in 2011 than in 2010.  Only a Democrat could call that a tax cut.

Why should anyone believe that handing even more money to corporations, no strings attached, would lead to faster job creation?

This sort of notion is born of the belief that all money belongs to the government.  The issue here is not about money given to corporations by the government; it’s about how much of the money a corporation earns should the corporation be allowed to keep.

Consider first the arguments Republicans are using to defend outrageous tax loopholes. How can people simultaneously demand savage cuts in Medicare and Medicaid and defend special tax breaks favoring hedge fund managers and owners of corporate jets?

“Outrageous tax loopholes” is such an oft repeated mantra of the Left that it should be hyphenated.  A loophole is an unintended path of avoidance.  What Krugman is alluding to is the accelerated rate of depreciation offered as an incentive for investment in equipment.  It was part of the stimulus package promoted by President Obama.  It’s not a loophole; it was very much intended.

That only covers the first 3 paragraphs of Krugman’s article.  It’s enough.

CHICKEN COLLISSION

When a game of chicken ends in a collision, whom do you blame?  The driver you liked the least, of course.

And so it is in Washington.  The game is played periodically and the division has always been about spending.  Those who want to raise spending the most stand opposed to those who want to raise spending the least.  This time there is a new twist.  One side does not want to raise spending at all.  Previously, the battle has been about votes.  This time it’s about the survival of the nation.

Not that the impasse is some sort of crucial tipping point.  It’s not.  But we are facing sovereign insolvency and are governed by a president who seems to like it that way.  This is not a case where compromise is honorable.  But unfortunately, compromise is a necessary expedient.  In the final analysis, it is still about votes.  Obama and Reid are the problems du jour and they cannot be replaced without votes.  For better or worse, such are the workings of a democracy.

The debt limit will be raised, but only by a fraction of what the President wants.

JUST SOME RANDOM THOTS

If you visit quality blogs, you will find many quality comments. This is particularly true for sites that do not publish anonymous comments. What follows below is but a sample. It was submitted in response to a Power Line article about the Muslim Brotherhood and the Grand Jihad.

Ken Willis · University of Denver

The Obama Doctrine in the opposite of the Truman Doctrine. The latter was containment of Communism, the former is containment of the United States.

The Obamanists believe the U.S. is a militaristic, patronizing international bully that must be reined in. Friends and allies of the United States represent obstacles to the Obama mission of transforming the country. Enemies are seen as convenient sources of assistance to the final accomplishment of changing America’s role in world affairs from an aggressive, arrogant nation lecturing others on such things as democracy and freedom to a communal and co-equal partner with other nations. According to Obama, “any world order that elevates one nation or group of people over another will inevitably fail.”

The decline of the United States is seen as a positive development by Obama. A suggestion that the United States has been a force for good in the world is seen merely as proof of its arrogance.

That the Grand Jihad is an effort of one group to dominate others is conveniently ignored, or seen as America getting its just deserts.

The term “civil service” isn’t used as much as it once was. When I was a toddler, civil service meant low pay, low workload and early retirement with lots of security. They were positions of service to the civilian community. Today they are high pay, low workload and early retirement jobs with lots of security. They no longer qualify to be called a service. From what I see, many of the workers no longer qualify to be called civil either.

Obama said he had campaigned in all 57 states. He said it twice. Now southern California wants to split with their compatriots in the north. Could it be that Obama knew something the rest of us didn’t? Perhaps he was just off on the timing. Obama also said Hillary’s home state of Arkansas bordered on Kentucky and his state of Illinois did not. He gave that as the reason Hillary was polling better than he was in Kentucky. That would require some border changes too. Hmm…

CIVILITY DEMOCRAT STYLE – REPUBLICANS ARE LIKE NAZIS AND THEY WANT TO KILL WOMEN

Rummaging through some older scribblings that never were posted I came across these.  They are a bit out dated but I found them too telling to delete without posting them.  How the leaders of one party can make stupid vicious statements like these, and then claim the intellectual and moral high ground is somehow fascinating in the extreme.

Republicans Against Abortion Came to “Kill Women”

One of the leading pro-abortion members of the House is causing furor today with her comment that the pro-life Republicans recently elected to Congress want women to die of cancer.

Congresswoman Louise Slaughter (D NY) compared Republican efforts to revoke taxpayer funding for Planned Parenthood to actions taken by the Nazi regime in Germany during World War II.

“This is probably one of the worst times we’ve seen because the numbers of people elected to Congress. I went through this as co-chair of the arts caucus,” Slaughter said, according to a CNS News report. ”In ’94 people were elected simply to come here to kill the National Endowment for the Arts. Now they’re here to kill women.”

Harry Reid  – “Republicans don’t want women to get cancer screenings.”

Reuters reports : “Republicans want to shut down the government because they think there’s nothing more important than keeping women from getting cancer screenings.” Reid said on the Senate floor.

RANDOM THOTS on BLAGO, BACHMANN and GREECE

From Power Line
Blagojevich will be the fourth former governor of Illinois to go to jail since 1973. It is quite remarkable that President Obama has been able to avoid any significant association with the political culture from which he emerged.

About Michelle Bachmann
No, she is not a flake. She is, however, a gaffe a minute. The MSM would love to see her become the Republican candidate. I am concerned that she could suddenly blow it they way Howard Dean did. Pawlenty polls far below Bachman nationally but well ahead of her in Minnesota where they are both very well known.

Sovereign debt
Gross Domestic Product (GDP) is a measure of the size of a national economy. Comparing a nation’s level of debt to the size of their economy is a measure of prudence
in the level of borrowing. It is also a measure of their ability to make good on their loans.

We all know that Greece is deep in a pile of organic fertilizer; but few seem to realize the United States is headed even deeper. Here are some samples of debt as a percentage of GDP according to the IMF. Portugal 83, Ireland 94, Iceland 116, Greece 143. Germany and France are 74 and 82 respectively. The Congressional Budget Office currently puts the United States at 93 percent and projects it to be 140% in 1928 and 190% by 1935. And you know no one is going to bail us out.

It is no winder the Democrats have not met their obligation to present a budget for 2 ½ years. It would mean they would be held responsible following in the footsteps of Greece.

AYN RAND REDUX – CONFESSION of a RELUCTANT TEA PARTIER

Ayn Rand, author of Atlas Shrugged escaped the Communism of the Soviet Union as a young woman.  So did Luba Sindler.  As Yogi Berra would say, for Luba Sindler, Barack Obama is déjà vu all over again.

Here are excerpts from Luba’s story as first published in American Thinker on June 15.

Confession of a Reluctant Tea-Partier
By Luba Sindler

In the Soviet Union any mass expression of public sentiment was by definition a fraud.  All organizations got their quotas to provide a certain amount of bodies to march through the town celebrating state holidays.  Being a child was no excuse — I remember taking part in an annual May Day demonstration as a 10-year-old member of an ice-skating girls’ group.

My family came to the United States the day before the Thanksgiving of 1987.  Being intellectually curious, I immediately began wondering how this country functions and what makes the United States the envy of the world (don’t believe all that criticism from outside — it’s mostly ignorance).  As a confirmed bookworm I started reading everything in sight from the Constitution and Federalist Papers to the New York Times to National Review by way of the Economist and the Village Voice.  My English improved dramatically but my respect for the media evaporated.

My husband and I applied for US citizenship the day we became eligible.  After that we proudly voted in every election, but the idea of venturing a political opinion never crossed my mind (an unfortunate result of being brought up in a totalitarian society where keeping your mouth shut is a basic rule of survival).  There was something unseemly in proclaiming my deep love and appreciation of America for all to hear.

When candidate Obama showed up, I realized that I had heard his typical stump speech every single day of my old Soviet life from big and small Communist party bosses — the same structure, the same cadences, the same bogeymen, the same demagoguery, the same targets.  The American people had no defense against this rhetoric.  The result of the elections was totally predictable.  To me it was a “Back to the Future” moment. [Emphasis ours]

[It was like] a terrible nightmare.  Running from Communism, finding the safe haven and a new life, and now to have the same wrecking crew coming even here?

In February or March of 2009 my husband, two friends, and I went to the first New York City Tea Party in front of City Hall — more out of helplessness than anything else.  I attended a few more Tea Parties in our area (my husband dropped out, not believing in lost causes) just to support a worthy idea, not to expect any tangible result.

The atmosphere was incredible.  Complete strangers were talking to each other, taking pictures of thousands of funny posters, smiling, and feeling as one.  Contrary to popular opinion outside the United States, here was an ample proof that Americans have a great sense of humor.  People were expressing their opinions in a typical American fashion, loud and clear.

I felt as if I had [found a] home.  [F]or the first time in my life I felt like a real, full-blooded, free American.  It was glorious.

Luba Sindler is not alone.  Her sentiments are echoed over and over by immigrants who have come to America from Communist bloc countries.  Quite a number are going back home, preferring to live in a land coming out of a Marxist socialist past to one they see trending toward a Marxist socialist future.  But as long as there are people like Luba and the Tea Party, America will do just fine.

OLD ROCKY TOP

An old favorite by the Osmond Brothers