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2010
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September
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- This Newsbite Deserves a Stand-Alone Posting
- Barker's Newsbites: Thursday, September 30, 2010
- Car Rental Trivia
- Barker's Newsbites: Wednesday, September 29, 2010
- Barker's Newsbites: Tuesday, September 28, 2010
- Barker's Newsbites: Monday, September 27, 2010
- Weekend Newsbites: Sat. & Sun., September 25 & 26
- Barker's Newsbites: Friday, September, 24, 2010
- Barker's Newsbites: Thursday, September 23, 2010
- Barker's Newsbites: Tuesday, September 21, 2010
- Barker's Newsbites: Monday, September 20, 2010
- Abbreviated Weekend Newsbites: Sunday, September 1...
- Barker's Newsbites: Friday, September 17, 2010
- Barker's Newsbites: Thursday, September 16, 2010
- The Coming Republican Revolution
- Barker's Newsbites: Wednesday, September 15, 2010
- Barker's Newsbites: Monday, September 13, 2010
- Weekend Newsbites: Sat. & Sun., September 11 & 12,...
- September 11, 2010
- Barker's Newsbites: Friday, September 10, 2010
- Barker's Newsbites: Thursday, September 9, 2010
- Barker's Newsbites: Wednesday, September 8, 2010
- Barker's Newsbites: Tuesday, September 7, 2010
- Labor Day Weekend Newsbites 2010
- U-6 Unemployment
- Barker's Newsbites: Friday, September 3, 2010
- Barker's Newsbites: Thursday, September 2, 2010
- This Newsbite Deserves Its Own Stand-Alone Posting
- Barker's Newsbites: Wednesday, September 1, 2010
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September
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About Me
- William R. Barker
- Pearl River, NY High School Class of '81; Northeastern University, Boston, MA Class of '87.
7 comments:
http://apnews.myway.com/article/20100925/D9IEMB381.html
Regulators on Friday shut down small banks in Florida and Washington state, bringing to 127 the number of U.S. bank failures this year on a wave of loan defaults and economic distress.
* THE OBAMA RECOVERY CONTINUES... (*SMIRK*)
The Federal Deposit Insurance Corp. took over Haven Trust Bank Florida...and North County Bank, based in Arlington, Washington.
The failure of North County Bank is expected to cost the deposit insurance fund $72.8 million. The failure of Haven Trust Bank Florida is expected to cost the fund $31.9 million. It was the 24th bank in Florida to fail this year.
With 127 closures nationwide so far this year, the pace of bank failures exceeds that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 95 banks.
The pace has accelerated as banks' losses mount on loans made for commercial property and development.
* FASTEN YOUR SEAT BELTS, FRIENDS!
The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of June 30. The 2009 failures [alone] cost the insurance fund more than $30 billion.
The number of banks on the FDIC's confidential "problem" list jumped to 829 in the second quarter from 775 three months earlier...
(*SIGH*)
The FDIC expects the cost of resolving failed banks to total around $60 billion from 2010 through 2014.
(*SARCASTIC CLAP-CLAP-CLAP*)
* OH... AND BTW... CONSIDER THE HISTORY OF GOVERNMENT "EXPECTATIONS."
(*SMIRK*)
http://www.bloomberg.com/news/2010-09-25/-black-swan-author-taleb-says-obama-s-stimulus-made-economic-crisis-worse.html
U.S. President Barack Obama and his administration weakened the country’s economy by seeking to foster growth instead of paying down the federal debt, said Nassim Nicholas Taleb, author of “The Black Swan.”
“Obama did exactly the opposite of what should have been done,” Taleb said yesterday in Montreal in a speech as part of Canada’s Salon Speakers series. “He surrounded himself with people who exacerbated the problem. You have a person who has cancer and instead of removing the cancer, you give him tranquilizers. When you give tranquilizers to a cancer patient, they feel better but the cancer gets worse.”
Today, Taleb said, “total debt is higher than it was in 2008 and unemployment is worse.”
* YEP. ALL TRUE.
“Today there is a dependency on people who have never been able to forecast anything,” Taleb said. “What kind of system is insulated from forecasting errors? A system where debts are low and companies are allowed to die young when they are fragile. Companies always end up dying one day anyway.”
Taleb, a native of Lebanon who gave his speech in French to an audience of Quebec business people, said Canada’s fiscal situation makes the country a safer investment than its southern neighbor.
Canada has the lowest ratio of net debt to gross domestic product among the Group of Seven industrialized countries and will keep that distinction until at least 2014, the country’s finance department said in March. Canada’s ratio, 24% in 2007, will rise to about 30% by 2014. The U.S. ratio, now above 40%, will top 80% in four years, the department said, citing IMF data.
* RECALL, FOLKS... DEMOCRATS HAVE BEEN IN COMPLETE CONTROL OF CONGRESS SINCE JANUARY 2007; OBAMA HAS BEEN IN OFFICE APPROACHING TWO YEARS NOW - WITH A DEMOCRATIC CONGRESS. PELOSI, REID, AND OBAMA - ALONG WITH THAT FOOL BERNANKE - ARE DESTROYING OUR ECONOMY!!!
“The first thing to do if you want to solve the mortgage problem in the U.S. is to stop making these interest payments deductible,” he said. “Has someone dared to talk about this in Washington? No, because the U.S. homebuilders’ lobby is hyperactive and doesn’t want people to talk about this.”
* AND ON THIS THE AVERAGE REPUBLICRAT IS JUST AS GUILTY AS THE AVERAGE DEMPUBLICAN.
http://www.humanevents.com/article.php?id=39087
* BY PATRICK J. BUCHANAN
Black unemployment last month hit 16.7%. Among black teenagers, it is 45%.
Yet as this crisis deepens for black America, Obama and Sen. Harry Reid are pursuing an amnesty called the DREAM Act for 2 million illegal aliens, as a prelude to full amnesty for 12 to 20 million.
Yet, these illegals hold 8 million jobs that would otherwise be available to black Americans.
In 2009, as unemployment soared under Obama, the U.S. government issued 1.131 million green cards, 808,000 of them for immigrants of working age, the fourth highest number of foreign workers brought into this country in history.
Why, with 25 million Americans unemployed or underemployed, are we importing a million foreign workers?
* GOOD FRIGG'N QUESTION - IS IT NOT...???
* UNFORTUNATELY WE KNOW THE ANSWER: POLITICS AND ECONOMICS. POLITICAL CORRECTNESS RUN AMOK. A DESIRE ON THE PART OF DEMOCRATS TO "CAPTURE" THE HISPANIC CONSTITUENCY AS THEY'VE CAPTURED THE BLACK CONSTITUENCY. OH... AND ALSO GOOD OLD-FASHIONED GREED AND SELFISHNESS. THE "OBAMA CLASS" OF AFFLUENT LIBERAL VOTERS MUST AFTER ALL HAVE CUT-RATE EASILY EXPLOITABLE NANNIES, GARDENERS, HOUSEKEEPERS, AND THE LIKE. (WHILE HIRE AN "UPPITY" BLACK CITIZEN WHEN YOU CAN HIRE A SUBSERVIENT ILLEGAL ALIEN FOR HALF THE WAGES AND NO BENEFITS, RIGHT?
Why are we not sending the illegals back, as President Eisenhower did, and imposing a moratorium on new immigration, as FDR did, to save American jobs for American workers?
* HEY... YOU FOLKS KNOW WHERE I STAND!
http://online.wsj.com/article/SB10001424052748703989304575504751694497836.html?mod=WSJ_Opinion_LEFTTopOpinion
Many conservatives believe the summit of their beliefs began and ended with the sainted Reagan.
Not true.
As Garland S. Tucker III shows in "The High Tide of American Conservatism," in 1924 both presidential candidates, Calvin Coolidge and John Davis, campaigned for limited government, reduced taxes and low tariffs.
The Republican Coolidge won in a landslide, in part because the Democrats were in the process of disowning a relatively conservative tradition dating back 40 years in favor of the new progressive politics of Franklin Roosevelt.
Coolidge, arguably our least-known good president, served two terms that coincided with strong economic growth enabled in part by steep, across-the-board tax cuts.
In the decades that followed, liberal historians tried, [unfortunately] with [great] success, to discredit and bury the economic conservatism of the 1920s. The concerns of this important period largely disappeared from the political conversation. But now they're back, thanks to the tea-party movement.
Anyone seeking clarity about what's at stake in the run-up to 2012 needs to know what happened to our politics in 1924.
It wasn't complicated, it was very exciting and it worked. And Garland S. Tucker III's book is a perfect guide.
http://online.wsj.com/article/SB10001424052748703989304575504192870395162.html?mod=WSJ_Opinion_LEFTTopOpinion
There will be no gain in long-term tax revenue from increasing tax rates on those making more than $200,000 per year, despite claims by President Obama's Office of Management and Budget, and the Congressional Joint Committee on Taxation...
The current debate over the expiring Bush tax cuts is a replay of the debate about the Reagan tax-rate reductions of three decades ago. We know the outcome of that debate. Lower tax rates, particularly on labor and capital, lead to higher levels of employment and economic growth. [B]y the time President Reagan left office, the economy was generating more tax revenue at a maximum 28% rate than many on the left forecast it to generate at a maximum 70% rate.
Over the long run (seven years or more), individual federal tax rates not exceeding 25% or so would probably maximize federal tax revenues (remember that state and local income tax rates must be added to the federal rate so many people would still face marginal tax rates of well over 30%).
* AND AGAIN I POSE THIS PHILOSOPHICAL QUESTION: IS IT NOT REASONABLE THAT A FREE INDIVIDUAL IN A FREE SOCIETY BE "ALLOWED" TO KEEP AT A BARE MINIMUM AT LEAST 33% OF HIS OR HER INCOME...??? IT SEEMS SO TO ME!
The current administration has ignored historical evidence that high tax rates on saving and investment over time erode the growth of productive capital, leading to lower economic growth and job creation. It also has stubbornly relied on outdated Keynesian economic models. Hence it continues in a fantasy that higher tax rates on upper-income earners will generate significant revenue.
The job hopes of many are too important to be nailed to the cross of [Obama's, Pelosi's, and Reid's] economic ideology.
(*AMEN*)
http://online.wsj.com/article/SB10001424052748704523604575511920142932674.html?mod=WSJ_Opinion_LEADTop
* BY JIM TOWEY
I was George W. Bush's director of faith-based initiatives. Imagine what would have happened had I proposed that he use that office to urge thousands of religious leaders to become "validators" of the Iraq War?
I can tell you two things that would have happened immediately. First, President Bush would have fired me - and rightly so - for trying to politicize his faith-based office. Second, the American media would have chased me into the foxhole Saddam Hussein had vacated.
* SOUNDS ABOUT RIGHT...
Yet on Tuesday President Obama and his director of faith-based initiatives convened exactly such a meeting to try to control political damage from the unpopular health-care law. "Get out there and spread the word," Politico.com reported the president as saying on a conference call with leaders of faith-based and community groups. "I think all of you can be really important validators and trusted resources for friends and neighbors, to help explain what's now available to them."
Since then, there's been nary a peep from the press.
* YEP. TYPICAL.
Do we really want taxpayer-funded bureaucrats mobilizing ministers to go out to all the neighborhoods and spread the good news of universal coverage?
[The present Obama administration run Office of Faith-Based Initiatives] stands in stark contrast to the priority Mr. Bush placed on this office. Some allege that Mr. Bush pioneered the art of politicizing faith. In fact, his faith-based initiatives were remarkably bipartisan. I am a Democrat, and I worked with more Democratic members of Congress than Republican ones. If you polled the attendees at the dozens of conferences our office held throughout the country, Mr. Bush likely would not have fared well. It didn't matter. To those who participated it wasn't about politics. It was about learning how to run more effective programs and help more people in need.
Mr. Obama is within his legal rights to engage our country's spiritual leaders in his effort to sell health-care reform. But he should not use the White House Office of Faith-based and Neighborhood Partnerships to do so.
http://uk.reuters.com/article/idUKN259750420100925
Czech President Vaclav Klaus on Saturday criticized U.N. calls for increased "global governance" of the world's economy, saying the world body should leave that role to national governments.
The solution to dealing with the global economic crisis, Klaus told the U.N. General Assembly, did not lie in "creating new governmental and supranational agencies, or in aiming at global governance of the world economy."
"On the contrary, this is the time for international organizations, including the United Nations, to reduce their expenditures, make their administrations thinner, and leave the solutions to the governments of member states," he said.
Klaus appeared to be responding to the address of the Swiss president of the General Assembly, Joseph Deiss, who said on Thursday at the opening of the annual gathering of world leaders in New York that it was time for the United Nations to "comprehensively fulfill its global governance role."
* WELL, FOLKS... ALL YOU NEED DO IS KEEP YOUR EYES AND EARS OPEN AND YOU'LL SEE THAT IT'S NOT SIMPLY "CONSPIRACY THEORISTS" WHO WARN OF AN INTERNATIONAL OLIGARCHY BENT ON SUBMERGING NATIONAL SOVEREIGNTY - OURS SPECIFICALLY - INTO SOME SORT OF "WORLD GOVERNMENT."
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