Wednesday, November 3, 2010

Barker's Newsbites: Wednesday, Nov. 3, 2010


A little tune to stir the blood...
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4 comments:

William R. Barker said...

http://online.wsj.com/article/SB10001424052748703506904575592471354774194.html?mod=WSJ_hp_LEADNewsCollection

The Federal Reserve Wednesday unveiled a controversial new plan to buy U.S. Treasurys, hoping to spur growth in a disappointingly slow U.S. economy.

* BY "CONTROVERSIAL" THEY MEAN FLAT OUT INSANE.

After two days of discussions, Fed officials decided to go ahead with a much anticipated program, saying they will buy $600 billion of U.S. government debt over the next eight months.

* TO THOSE WHO POOH-POOH SOUNDBITES SUCH AS "END THE FED," YOU NEED TO UNDERSTAND THAT FOR ALL INTENTS AND PURPOSES THE FED IS NOW ACTING AS AN (UNCONSTITUTIONAL) SECOND (UNELECTED) COMBINED LEGISLATIVE-EXECUTIVE BRANCH WHEN IT COMES TO WHAT AMOUNTS TO A PARALLEL (AND AGAIN... UNCONSTITUTIONAL) "POWER OF THE PURSE."

The Fed's first $1.75 trillion bond-buying program, which ran from Dec. 2008 to March 2010...

* WAS A COMPLETE, UNMITIGATED DISASTER. FOLKS... "BOND BUYING" TRANSLATES TO "DEBT ASSUMPTION." IF YOU DON'T UNDERSTAND THIS THEN YOU'RE IGNORANT. (NOT STUPID... IGNORANT.) AND IF YOU'RE IGNORANT YET CONSIDER YOURSELF WELL-EDUCATED... HAVING GRADUATED A "GOOD" HIGH SCHOOL... GRADUATED AN ACCREDITED COLLEGE... PERHAPS GONE ON TO ATTEND GRADUATE SCHOOL... THEN ASK YOURSELF WHY YOU WERE NEVER TAUGHT THE THINGS WHICH I REFER TO ON A DAILY BASIS.

By buying government bonds, the Fed aims to keep long-term interest rates low, hoping it will lead consumers to spend and companies to invest more...

* WE'VE BEEN OVER THIS AD NAUSEUM. THE GOVERNMENT IS RUNNING ONE BIG PONZI SCHEME UPON THE AMERICAN PEOPLE AND THE WITH THE COOPERATION OF HIGH GOVERNMENT OFFICIALS THE OLIGARCHS ARE ROBBING AMERICA BLIND AND STEALING OUR CHILDREN'S FUTURE FROM THEM!

The Fed said it expects to buy between $850 billion to $950 billion Treasurys through the end of the second quarter of 2011. (That's because in addition to the $600 billion, the Fed expects to buy about $35 billion a month to replace mortgage bonds in its portfolio that are being retired, a decision that was taken back in August.)

* SO EVEN THE HEADLINE NUMBER OF $600 BILLION IS A BALD-FACED LIE... A DELIBERATE DECEPTION... (REMEMBER... MANY READERS ONLY BROWSE THE HEADLINES!)

Kansas City Fed President Thomas Hoenig voted against the policy action, saying the risks outweigh the benefits.

November 3, 2010 at 4:50 PM
William R. Barker said...

http://biggovernment.com/publius/2010/11/03/exclusive-michele-bachmann-to-run-for-gop-leadership/

* ACCORDING TO ANDREW BREITBART'S "BIG GOVERNMENT" NEWS/OPINION WEBSITES:

Rep. Michele Bachmann, one of the first GOP office-holders to recognize the importance of the tea party uprising, will enter the race for GOP Conference Chair.

The number 4 position in House Leadership, the Conference Chair is well-positioned to inject grass-roots energy into the majority caucus. It is energy the DC GOP establishment desperately needs. Without it, last night’s historic win will be only a blip on the political landscape.

Rep. Bachmann is, in many ways, one of the leaders of the ‘tea party’ in Congress. Incoming GOP members would be well-served to have one of their own in leadership. God speed, Rep. Bachmann

November 3, 2010 at 5:04 PM
William R. Barker said...

http://www.politico.com/news/stories/1110/44641.html

Virginia Republican Eric Cantor’s official announcement of his run for House majority leader came with a twist: a 22-page game plan on how to change Congress.

Cantor, currently the GOP whip, began calling colleagues to shore up his support and wrote a letter promising to change Congress, saying he wants to “drain the swamp rather than learning to swim with the alligators.”

The document is entitled “Delivering on Our Commitment” and promises a broad range of sweeping initiatives ranging from spending cuts to to bringing each item of the Pledge to America to the floor for a vote.

It’s a bold plan...

* AND THIS IS THE LIBERAL CYBER-RAG POLITICO REPORTING THIS! (*SNORT*)

Cantor is proposing committee hearings be uninterrupted by votes, and is also urging committee reports to be brought to the floor for debate.

(*THUMBS UP*)

* SERIOUSLY... THIS SORT OF "HOUSEKEEPING" DETAIL SHOWS THAT HE'S SERIOUS ABOUT CREATING A SERIOUS ATMOSPHERE CENTERED ON ACTUAL POLICY AND LEGISLATION... AFFORDING THE OPPORTUNITY FOR TRULY TRANSPARENT DEBATE.

Spending, a major priority of Republicans’, also gets top billing from Cantor. He says he will try to ensure that all new spending has “explicitly” listed how it will be paid for and how the legislation fits into the constitution.

(*CLAP-CLAP-CLAP*)

* HEAR! HEAR!

In a throwback to the past, Cantor is aiming to bring rescission bills to the floor under an open rule so members could cut federal spending they deem as wasteful. In addition, he plans to continue the YouCut program – a plan much maligned by Democrats - which put spending cuts in the hands of online users.

Entitlement reform is also in the crosshairs of the Virginia Republican. President Barack Obama, Cantor says, won't work with Republicans to enact real entitlement reform unless it includes major tax increases. But Republicans, he said, should lay out their plan and encourage Democrats to do the same.

[Finally, Cantor] is also vowing to defund [ObamaCare] piece by piece...

* AND THE CROWD GOES WILD...!!! (*WINK*)

November 3, 2010 at 8:20 PM
William R. Barker said...

http://www.cbsnews.com/stories/2010/11/03/earlyshow/main7017689.shtml

With their sweeping electoral victory in hand, Republicans are committed to ending earmarks - the local-project riders to legislation - and focusing on the big national issues, a top Senate Republican said Wednesday.

"We can't have 500 congressmen and senators who think it's their job to bring home the bacon - and that's what's going to change," South Carolina Sen. Jim DeMint told CBS' "The Early Show. "One of the first thing we'll do in the House and Senate is ban earmarks as Republicans - that'll get our eyes back on fixing our tax code, fixing social security and Medicare, getting America back to work."

(*DEAFENING APPLAUSE*)

November 3, 2010 at 8:57 PM

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