Tag Archives: federal reserve chairman ben bernanke

Wednesday Evening News Roundup

Wednesday Evening News Roundup

We must remember the Republican strategy that was devised by Nixon and perfected by Reagan – divide and conquer. You must paint your opponent as someone who is not one of us. He’s not a real American. They did it to John Kerry. They did it to Al Gore. Now, a Romney aide stated that President Obama does not understand the “Anglo-Saxon heritage” shared by the United States and Britain. It is almost as if he were an outsider. He didn’t take Western Civilization in junior high school. Fortunately, our president did pay attention in junior high school, high school and college. He understands our heritage extremely well. This is just another attempt to paint the president as an outsider.

Progressives versus Regressives by Robert Reich

While in London, Mitt Romney is hoping to bask in the glory of the Olympics. He’s hoping that some of the Olympic magic may rub off on him. While in London, he will be meeting with a group of extremely influential bankers (never mind the banking LIBOR scandal) who are paying upwards of $75,000 per plate to have dinner with him. You already know what’s going to be discussed. Cut regulations. Let us continue to rape and pillage America, Europe and the world. Continue reading Wednesday Evening News Roundup

Wednesday’s News Roundup

I’m simply running around like a chicken…you know the rest.

From Political Animal:

  • Escalation in Libya: “In a sudden, sharp escalation of NATO’s air campaign over Libya, warplanes dropped more than 50 bombs on targets in Tripoli on Tuesday, obliterating large areas of Colonel Muammar el-Qaddafi’s Bab al-Aziziya command compound.” (Ed. note – I thought that we weren’t targetting Gaddafi? I’m just askin’.)
  • Congress won’t act, and the Fed doesn’t want to: “Federal Reserve Chairman Ben Bernanke conceded that the economic recovery is ‘frustratingly slow’ for millions of unemployed Americans, but threw cold water on the notion that the central bank can be a cure-all for the economy’s ills.”
  • On the other hand, Bernanke expects stronger growth in the second half of 2011, as Japan recovers and gas prices come down. (Ed note: I truly get uncomfortable when the Fed Chairman has to hope that gas prices will stabilize.)
  • President Obama believes the economy has to “accelerate,” but he rejected the notion of a double-dip recession.
  • Pelosi wants an investigation into the Weiner controversy: “In a letter to Ethics Committee Chairman Rep. Jo Bonner (R-Ala.) and Rep. Linda Sanchez (D-Calif.), the ranking Democrat on the committee, Pelosi (D-Calif.) said an investigation of Weiner is needed due to ‘inappropriate’ conduct. “ (Others have called for Weiner to stepdown including me.)
  • I hope this doesn’t mean the end of the White House White Board: “Austan Goolsbee, a longtime adviser to President Obama and the only economist left on his core economic team, plans to leave as chairman of the Council of Economic Advisers by September after a year in the job to return to the University of Chicago.”
  • The story of the Catherine Ferguson Academy in Detroit, which is now closing, is just heartbreaking. Austerity in America. (ed note: This is more than sad. It is poke in the eye of those Americans who have made a mistake and are trying to get back on the right track.)
  • The Washington Post fact-checker said President Obama exaggerated a bit in his recent remarks about the auto industry. Given the details, I’m glad the White House fact-checked the fact-checker.
  • Figuring out how much college costs should be much easier.
  • Andy Sabl has a smart post about why the right offers mixed messages on Europe: “It’s all about the secularism.”
  • Yes, Lieberman can get even worse: “Sen. Joseph Lieberman (I-Conn.) plans to attend a Glenn Beck rally in Jerusalem.”
  • On a related note, Glenn Beck plans to charge his minions $5 to $10 a month to watch his online network, which will be the exclusive home of his talk show. Prediction: this will end badly.
  • And George W. Bush’s $2.5 trillion in tax cuts were launched exactly 10 years ago today. One of these days, they’re bound to deliver the rewards Republicans promised at the time, right?

Grab bag Thursday

  • obama sotu 2010I was unable to watch the State of the Union address last night. (I was on call and somewhat busy.) I did watch it at about 3 AM. (I do love the Internet.) I’ve been watching State of the Union addresses for over 20 years and I can honestly say that I don’t like them. Any event that turns what are supposed to be dignified congressman into cheerleaders is a problem in my book. Whether it was Reagan, Clinton, Bush the Lesser or Obama, it seems like the purpose of the speeches are to tell us how great we are and gloss over our problems. Don’t we have FOX News for that?
  • Now, don’t misunderstand me. I think the President Barack Obama did a fabulous job. There was that one section that made me somewhat nauseated. “Starting in 2011, we are prepared to freeze government spending for three years. Spending related to our national security, Medicare Medicaid and Social Security will not be affected. But all other discretionary government programs will.” I won’t even get into the problem with discretionary versus “indiscretionary” spending. When 20% of our budget goes to national defense and 22% of our budget goes to Social Security and 12% goes to Medicare, there is a whole lot left over. We spend 7% of our budget just on interest. That’s over 60% of our budget. So, we’re going to hold spending on Head Start? Do we need to increase spending in order to increase demand until we are out of this recession?
  • Dr. George Tiller was gunned down while he was at church back in May of last year. His alleged killer is on trial now. Closing arguments begin tomorrow. In my mind, it doesn’t matter what Scott Roeder said on the stand. He’s never denied gunning down this man in cold blood. They should put him away and only let him out when the steel bars rust from age.
  • Nerves are raw everywhere in our country. Many liberals were calling for the replacement of Federal Reserve Chairman Ben Bernanke. After all, he did preside over the worst housing collapse in the history of our country. He ignored the warning signs. On the other hand, think about the backlash he would’ve received for standing up and crying wolf. Banks and financial institutions would have wanted to tar and feather him for calling an end to their party. I personally think he was a no lose – lose situation. In spite of the opposition, he won a second term.
  • Newly elected Virginia Republican Governor Bob McDonnell gave the Republican response to the State of the Union. Two things stand out in his rebuttal. “The circumstances of our times demand that we reconsider and restore the proper, limited role of government at every level.” So who decides what the proper and limited role of government is? The new governor? The president? Congress? How do we pay unemployment benefits to millions while we are dismantling government? Personally, I want government to be large enough to be effective while still small enough to be effective. Whatever that size is. That’s what I want. The governor earlier quoted Thomas Jefferson as saying, “a wise and frugal government which shall leave men free to regulate their own pursuits of industry… and shall not take from the mouth of labor the bread it has earned…” It sounds as if Thomas Jefferson was supporting the Republican cause for limited government. Unfortunately, the governor got the quote wrong. The full quote seems to support the government’s role in our society as a balance against big business. “Still one thing more, fellow-citizens — a wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicities.” Did Governor Bob think that no one would look it up?
  • John and Elizabeth Edwards have split up. Just think, he was really close to becoming president. Doesn’t that send chills down your spine?
  • Housing foreclosures continue to rise.
  • JD Salinger, the author of the Catcher in the Rye, has died.
  • Finally, we’re preparing for our second snowstorm of the winter season. If you love snow, this is great. If you’re like me, snow is better when seen on a postcard. (Pssst… I was told before I moved here that it doesn’t snow that much. WRONG!!)