Howard Beale Politics

Posted on August 26th, 2015

Mad as HellBy Monty Pelerin

The early response to Republican and Democrat candidates suggests that there might be an overthrow of the old political order under way. The electorate seems to be having a Howard Beale moment (see explanation below). As a long-time observer of politics and its corruption, I certainly hope that is what is happening.

The public seems outraged, tired of being ignored. The early popularity of outsiders: Trump, Sanders, Carson, Fiorina and,to some extent, Cruz reflect the dissatisfaction. Bush and Walker, the original favorites, have dropped substantially. Hillary is being threatened by a Socialist, Bernie Sanders. Anyone seen as part of the establishment is being punished at least at this early jockeying stage. Whether this is an early season anomaly or whether it is a sign of a turn against professional politicians remains to be seen.

Howard Beale

Politics is going through its Howard Beale moment. Mr. Beale was the newscaster in Network played by Peter Finch:

I don’t have to tell you things are bad. Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickel’s worth, banks are going bust, shopkeepers keep a gun under the counter. Punks are running wild in the street and there’s nobody anywhere who seems to know what to do, and there’s no end to it. We know the air is unfit to breathe and our food is unfit to eat, and we sit watching our TV’s while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that’s the way it’s supposed to be. We know things are bad – worse than bad. They’re crazy.

… All I know is, you’ve got to get mad. You’ve got to say, “I’m a human being, goddamn it. My life has value.

… I’m as mad as hell, and I’m not going to take this anymore. Read More..

Debt Drama Looms for Congress

Posted on August 26th, 2015

Kicking the can debt by Rick McKee, The Augusta Chronicle from www.caglecartoons.com # 138859By Rebecca Shabad and Peter Schroeder

Congress has a long list of unfinished business for the fall, with highway funding, tax break legislation, a budget deal and a spending package all awaiting action.

But it’s the need for an increase in the debt limit that looms largest of all.

The nation is again coming close to hitting the “ceiling” for overall debt, which Congress set at $18.1 trillion in February of 2014.

While the deadline for lifting the limit is uncertain, Treasury Secretary Jack Lew warned last month that the “extraordinary measures” now preventing a debt default could be exhausted by the end of October. Read More..

BLACK MONDAY: The First Time EVER The Dow Has Dropped By More Than 500 Points On Two Consecutive Days

Posted on August 25th, 2015

New York City 1920’s, financial-collapseBy Michael Snyder

On Monday, the Dow Jones Industrial Average plummeted 588 points. It was the 8th worst single day stock market crash in U.S. history, and it was the first time that the Dow has ever fallen by more than 500 points on two consecutive days. But the amazing thing is that the Dow actually performed better than almost every other major global stock market on Monday.  In the U.S., the S&P 500 and the Nasdaq both did worse than the Dow. In Europe, almost every major index performed significantly worse than the Dow.  Over in Asia, Japanese stocks were down 895 points, and Chinese stocks experienced the biggest decline of all (a whopping 8.46 percent).

On June 25th, I was not kidding around when I issued a “red alert” for the last six months of 2015. I had never issued a formal alert for any other period of time, and I specifically stated that a major financial collapse is imminent“. But you know what? As the weeks and months roll along, things will eventually be even worse than what any of the experts (including myself) have been projecting. The global financial system is now unraveling, and you better pack a lunch because this is going to be one very long horror show.

Our world has not seen a day quite like Monday in a very, very long time. Read More..

O’Malley’s Taxes, Regs Drove Jobs Out Of Maryland, Hurt Its Poor

Posted on August 21st, 2015

Martin O'Malley at CAPBy Ethan Barton

O’Malley’s campaign this year has gone nowhere, but his record as governor will get much deeper scrutiny in coming days if former Secretary of State Hillary Clinton’s public credibility continues to plummet, with a result that increasing numbers of Democrats look for more attractive alternatives for their party’s 2016 presidential nomination.

“Obviously, his economic policy has severely affected the state of Maryland,” said conservative think tank Maryland Public Policy Institute President Christopher Summers told the Daily Caller News Foundation. “It hasn’t just hung an anti-business sign on Maryland. It’s carved it in stone.”

During O’Malley’s administration, however, Maryland saw an outflow of both businesses and residents, due according to Republicans to his high taxes and costly regulations. Republicans point to what they view as 83 tax increases as evidence. Read More..

Obama, the Left Downsizing the American Dream

Posted on August 20th, 2015

The American Dream is OverBy Joel Kotkin

Barack Obama has always wanted to be a transformational president, and in this, at least, he has been true to his word. The question is what kind of America is being created, and what future does it offer the next generation.

President Obama’s great accomplishment, arguably, has been to spur the evolution of a society that formerly rested on individual and familial aspiration, and turn it into a more regulated and centralized regime focused on broader social and environmental concerns. This tendency has been made much stronger as the number of Americans, according to Gallup, who feel there is “plenty of opportunity ahead” has dropped precipitously – from 80 percent in 1997 to barely 52 percent today.

The shift away from the entrepreneurial model can also be seen in the constriction of loans to the small-business sector. Rates of business start-ups have fallen well below historical levels, and, for young people in particular, have hit the lowest levels in a quarter century. At the same time, the welfare state has expanded dramatically, to the point that nearly half of all Americans now get payments from the federal government. Read More..

Immigration: Issue of the Century

Posted on August 19th, 2015

Border of Mexico and USBy Patrick J. Buchanan

… For the six-page policy paper, to secure America’s border and send back aliens here illegally, released by Trump last weekend, is the toughest, most comprehensive, stunning immigration proposal of the election cycle.

The Trump folks were aided by people around Sen. Jeff Sessions, who says Trump’s plan “re-establishes the principle that America’s immigration laws should serve the interests of its own citizens.”

Will the West endure or disappear by the century’s end as another lost civilization? Mass immigration, if it continues, will be more decisive in deciding the fate of the West than Islamist terrorism. For the world is invading the West.

Is the West still blind to reality, to the inevitable future that awaits if the West does not secure its frontiers and close its borders to mass immigration?

The great and growing populations of mankind are in the Third World. Countless millions are determined to come to the West, legally if they can, illegally if they must. And the more who succeed, the more who come. Read More..

Wow! Obama Drives Down Coal Company Stocks, and Soros Buys Them on the Cheap

Posted on August 19th, 2015

What with a question markBy Thomas Lifson

I have always believed that global warming is a gigantic scam, driven by greed and lust for power. Now comes the shocking news, via Steve Milloy writing on Breitbart, that following President Obama’s use of CO2 emissions as a weapon to drive major coal companies near bankruptcy, the ultimate politically connected speculator George Soros is buying up stock in major coal producers on the cheap.

predicted in this column last week that the left wasn’t going to kill off the coal industry so much as it was going to steal it. That prediction is already becoming true courtesy of billionaire George Soros.

U.S. Securities and Exchange Act filings indicate that Soros has purchased an initial 1 million shares of Peabody Energy and 553,200 shares of Arch Coal, the two largest publicly traded U.S. coal companies. As pointed out last week, both companies have been driven perilously close to bankruptcy by the combination of President Obama’s “war on coal” and inexpensive natural gas brought on by the hydrofracturing revolution.

Under the hypothesis that not even socialists would leave trillions of dollars worth of a perfectly safe and clean energy source in the ground for the sake of the imaginary “climate crisis,” I posited that once the existing coal industry ownership was wiped out by President Obama’s regulatory onslaught, a new politically correct ownership would rehabilitate the fuel by contributing to Democrats. Read More..

Effect of Minimum Wage Increase: Seattle Restaurants Suffer Worse Job Loss Since The Great Recession

Posted on August 19th, 2015

Minimum wage cost and effect from www.caglecartoons.com # 147314By Connor D. Wolf

According to a report released Sunday by the American Enterprise Institute (AEI), the $15 minimum wage has caused Seattle restaurants to lose 1,000 jobs — the worst decline since the 2009 Great Recession.

“The loss of 1,000 restaurant jobs in May following the minimum wage increase in April was the largest one month job decline since a 1,300 drop in January 2009, again during the Great Recession,” AEI Scholar Mark J. Perry noted in the report.

The citywide minimum wage increase was passed in June of last year. The measure is designed to increase the city minimum wage gradually to $15 an hour by 2017. The first increase under the plan was to $11 an hour in April. According to the report, Seattle restaurants have already faced severe consequences as a result. In contrast, in the six years since the 2009 financial crisis, the industry has been recovering in areas without the $15 minimum wage.
Read More..

The Democrats Have a Candidate Shortage

Posted on August 18th, 2015

Democrats panicking from www.caglecartoons.com # 167625By Chicago Tribune

Democrats have had a lot of fun joking about the huge field of Republican presidential candidates and the clown car they keep piling out of. The Democrats, by contrast, couldn’t fill a minivan. And the way things are going, that may be a big problem.

Say what you will about the GOP, it has an abundance of people with the credentials to warrant real consideration. Jeb Bush, John Kasich, Rick Perry, Chris Christie and Scott Walker have extensive records as governors. Marco Rubio, Rand Paul and Ted Cruz have managed to stand out from the Senate crowd. Carly Fiorina was CEO of a major corporation. The rank and file’s main problem is sorting through them all.

Democrats, by contrast, have only five candidates. At the moment, it’s really a two-person contest between Hillary Clinton and Bernie Sanders. And those two options suggest the party could be in trouble come November 2016.

Sanders, a self-styled socialist, has attracted big and enthusiastic crowds, but his positions veer too far left to be salable in a general election. Former Maryland Gov. Martin O’Malley boasts excellent campaign skills, but he’s practically unknown beyond his home state. Former Virginia Sen. Jim Webb and former Rhode Island Gov. Lincoln Chafee are equally unknown but lack those campaign skills.

The pickings are so slim that talk is percolating about a late entrance by Joe Biden, John Kerry or even Al Gore. Anyone know how to reach Michael Dukakis? Read More..

The Ponzi Scheme Noose Tightens

Posted on August 5th, 2015

Social Security, Generation graft, Ponzi SchemeBy Monty Pelerin

The Federal Government’s Ponzi Scheme noose tightens each day. Time is not an ally for government. They are running out of it and revenue sources to pay exploding obligations. At some point, government dies and with it many of its dependents.

The Washington Examiner states that the Social Security Disability fund runs out of money in 2016:

The Social Security disability program will run out of money in late 2016, a report issued Wednesday by the Social Security and Medicare trustees warned.

At that point, the 10.9 million beneficiaries of the program face an immediate 19 percent cut in benefits, unless Congress intervenes. Read More..

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