Posting #1301 or The Failure Presidency

We didn't realize until this morning that A&G passed the 1300 posting mark yesterday...

One Thousand Three Hundred individual posts on this dreadful sham of an economic 'recovery' in less than three years of our site's operation..

Just doing our best to inform our readers of a real world beyond the corporate media facade that all is well and people are back to normal..

Five years ago, people elected a man they embraced as Hope and Change and instead have gotten five years of utter bullshit..

~ The President loves celebrities.. They're wealthy (donations, anyone?) and sway young voters...  Such a sweet eyes-closed embrace with Ben Affleck

This will anger liberal leaning readers..

We understand this but it is true nonetheless and if one takes off their partisan glasses and really looks at this President as who he is versus who you thought you were getting, you'd be infuriated as well..

We read yesterday in the New York Times that Obama is once again seeking to revive an old proposal to lower the corporate tax rate from 35% to 28%  (and 25% for manufacturers).

~ President with Springsteen.. He had enough time to write a song dedicated to Trayvon but was too busy in 1985 to perform Live Aid to feed sick and starving Ethiopians

Interestingly. Obama felt small businesses should be paying more tax because he raised their rates to 39.6% last year..  Yep, gotta crush those individual entrepreneurs and up-starts..

Is that something a liberal would do..  or a cold-calculating, cut-throat fiscal conservative Bastard would do?

Some corporations like GE and Facebook paid Zero in taxes last year... Yes not a penny...

From Huffington Post:  "Facebook paid no net corporate income taxes in the U.S. last year, according to a new report from Citizens for Tax Justice, a left-leaning research and advocacy group.

Instead, Facebook will rake in $429 million in net tax refunds for the year... The company earned $1.1 billion in U.S. corporate profits last year."

That sounds like something George W Bush or Reagan would be very happy about doesn't it?

Could have sworn they were Republicans i.e. the contrarian party to the current Prez..

~ The President talking with George Clooney playing the role of someone who matters

Anyways... let's just say a corporation that generates $1 Billion in profit and Actually paid what they were supposed to had their rate lowered from 35% to 28%...

35% of $1 Billion = $350 million; 28% equals $280 million

Obama would save the greedy soulless corporation $70 million dollars when we are carrying annual deficits because our expenditures i.e. what government is spending is greater than the tax revenue we're bringing in..

~ Oprah with the Prez pretending She is the First Lady

And where would this savings go?  Job creation??

Ha!  Don't bet on it..  It would go with the rest of the unsavory profits generated via Quantitative Easing and a very weakened US dollar:

Either buying up more stocks to enrich shareholders or using the money to expand further into third-world markets where labor is incredibly cheap

Obama still talks a good game; makes people really think he cares about them and wants them to have opportunity.

~ Katy Perry; a classy dress from a classy woman

So where's the job creation programs?

The standard reply is to blame a do-nothing, obstructionist Congress...

Two responses to that weak defense:

1) The President has Executive Orders.. Any time he really wishes to supersede Congressional authority he can.  The only limitation is the Order can not be used to create new law.

2) Obstruct is Exactly what an opposition party is supposed to do!

~ Will Ferrell taking a moment out of his busy schedule of mocking George W.

Think of it this way..

Let us say you are firmly and passionately pro-choice..  So you vote Representatives and Senators who reflect your personal beliefs on this issue...

And they get elected..

Now..  A big piece of abortion legislation is being debated that would weaken the ability for women to have abortions without government interference..

~ Perhaps when Reese Witherspoon's husband was arrested for DUI a couple months ago she should have screamed at the officers that she was personal friends with the President...

What do you want from your elected leaders..  for them to dig in their heels and defend the principles they professed and which made you vote for them?  Or compromise and strike a deal?

We all know the answer..

And yet when its Conservatives in Congress with principle fighting the President its 'obstruction'...

~ Stevie Wonder with Obama; He said he's going to boycott playing in Florida due to the Trayvon verdict..  We didn't know he still toured..

But like we said often before, it really is ironic that Republicans would put up such a fuss when they have a fiscal Conservative in the White House...

How is the President very much like President Bush? Let's see:

*  Obama allowed the extension of the Bush tax cuts not once but twice..

~ Obama is happy to greet Marc Antony but really wished his ex wife J-Lo was there instead..

*  The President pushed for a payroll tax break that saved workers on average $20 while severely weakening the Social Security pot to which that money was supposed to go (and by providing the tax break, business owners did not have to match the funds so they saved much more... as intended)

*   Four years ago Obama re-nominated a fiscal conservative Republican to run the Federal Reserve (Bernanke) and without any proper checks and balances, has spent over $10 Trillion dollars propping up banks and corporations around the world while engaging in endless QE

~ Ryan Gosling wearing his 'Multi-Millionares for Obama' T-shirt

As we stated yesterday, the Federal Reserve spends in one calendar year the equivalent of over two years of Welfare spending by the government...

And the only reason Bastard Ben isn't re-nominated a third time is he doesn't want the job anymore...

* Obama also kept Bush appointee Robert Gates on until the end of 2010 and current Sec of Defense is Republican and former Senator Chuck Hagel.

~ Julia Louis-Dreyfus has her Tee on as well...

The Democrat President trusts Republicans to conduct the nation's military policy..  This includes keeping Guantanamo Bay open and using torture to get information from prisoners..

Personally we're not attacking the President for change of heart in this matter.  Just pointing out what he campaigned on in 2008 vs reality...

* He has neglected the economic plight of black Americans more successfully than any racist white man or woman ever could..  

~ Joseph Gordon-Levitt must have paid more for his; its in lovely red

Unemployment among black adults is near 14% while joblessness among black youth-- those of Trayvon's age up into early 20s (the ones that would have been his son) is at a horrific 40%.   Only 7 years ago, that number was 19.8%

Some 'Dad'...

In three years time Obama's term in office will end...  And he will get his glitzy Presidential Library via donations from all the corporations he's help enriched with plenty of shelve space to hold the commemorative plates, cups, saucers, spoons  and 14k gold-plated coins..

~ Ryan Phillipe wearing his "Out of work has-been actors for Obama' Tee

And will this nation be any better economically in 2016 than it is now?   And more importantly, will the success of Obama's two elections make Democrats afraid to nominate someone with Genuine liberal values and ideologies...

Or will they pick another fiscally conservative shill to counter the ultra-zealous, deeply out of touch Republican that's bound to be the '16 nominee?

~ "A toast.... To Me..."

All we know is this...

Reagan's financial policies were economically destructive and hurt millions upon millions of working people when the smiling, jellybean munching 'Gipper' was in charge back in the 1980s.

Its no less destructive with the smooth talking slickety-slick man currently in charge..

Economic Plight of Blacks in the time of a Black President

This posting is going to be a bit controversial so we give warning now..

We're going to deal with a taboo topic... race.   Specifically the economic plight of blacks in 2013.

We probably will offend some sensibilities with the points we make so at any time we've touched a nerve, simply click off this post..

We promise you won't hurt our feelings.. sniffles~

And now we begin..

Its quite an interesting time to be black in America today..

The President is black.. Most of the wealthiest entertainers on the annual Forbes' list are black..  The vast majority of athletes who play professional and collegiate football and basketball are black...

Pop culture is predominately black or at least urban geared, every single commercial on TV has at least one black actor in it even if appearing for a fraction of a second...

And as the Paula Deen fiasco demonstrated, blacks (thanks mainly to white-guilters) still 100% successfully control the 'N' word and have the power to destroy others' lives and livelihoods at the snap of a finger when its ever uttered..

Bravo!

Still haven't controlled and circumvented the justice system yet though..

No worries... give it time.

At first you don't succeed in prosecuting someone for an alleged hate crime that wasn't race based, try, try again..  Just ignore that silly ole' law about 'double jeopardy' where someone can not be tried twice for the same crime...

Whatever it takes...

So blacks should be having it pretty good economically especially with a President who's just like them and completely understands what it is to be black and struggle..  And Obama has done Sooo Much for the black community too...

Like tell them if he had a son, he'd look like Trayvon..  That was pretty cool right?

Umm.. we're sure he's done other things too..  we think...

Let's go over some statistical Facts:

What is the the unemployment rate among blacks as of June?

13.7%  -- 1 out of every 7 out of work  (BLS.gov)

What is the unemployment rate among black teens?

43% as of Feb '13 -- 2 out of every 5  (BET.com)

What was the percentage 10yrs ago when Bush was Prez?

19.9% black youth unemployment in 2003 (CampusProgress.com)

What is the high school dropout rate among blacks?

48%.. this is basically 1 in every 2..  In addition, 1 out of every 4 black high school dropouts will eventually be incarcerated at least once in their lives (NPR.org)

What is the percentage of blacks who attend college and complete a 4-year undergraduate degree?

43%.  The other 57% will ultimately drop out.. (TheRoot.com)

What percentage of blacks possess doctorate degrees?

Less than 1%  (NSF.gov)

What percentage of doctors are black?

2.3% (Wisegeek.org)

What percentage of attorneys are black?

3.9% (TheFreeLibrary.org)

Hmmm, guess TV doesn't paint a realistic picture does it, when every medical show has at least one or two black doctors and every legal show has at least 1-2 black attorneys and of course, a black judge...

~ Baby: I wish I was with my real mother instead of this ugly white woman

What is the percentage of black babies are born to unwed black mothers currently?

A whopping 72% according to NBC News in 2010..

Pretty miserable numbers.. They just go on and on and on..

Guess when you have no prospect of a good future and have plenty of time on your hands, you tend to believe the lies the race-peddlers like Rev. Jackson, Rev Sharpton and the President push that its an 'us vs them' world...

That 'whitey' is keeping them down.. Preventing them from having a better life..

Of course the black President in the White House hasn't done jack squat to help his people..  Or is it really his people?

When a child has one parent who is African born and the other parent is white as snow, and then is raised by white grandparents, we wonder where along the way does one develop this deep love, kinship and empathy for the American-born black populace as is claimed...

So you have blacks without jobs.. without hope..  Fully dependent upon the system for everything-- welfare, food stamps, etc..  A bleak future..

By the way, even though blacks represent only 13% of the population, 22% are receiving food stamps (WashingtonPost.com)

Now you'd think they'd be angry and take to the streets en masse and storm Washington a couple million strong demanding.. no, Screamingg to their black President get off his bony ass; the one that 98% of black voters help put into office and do something to make their lives better...

Nope..

Rather idolize the do-nothing than criticize or dare to expect promises to be kept..

Rather use energy to martyr a pot smoking wannabe gangsta-thug delinquent with tears, eulogies, candle vigils, Facebook posts threatening violence and moments of silence...

Rather blame 'whitey' or refer to dark complexioned Hispanics as such..

We close with a quote we've used before from Congresswoman Maxine Waters back in 2011 when addressing students at Wayne University in Detroit (in blue font):

"We don't put pressure on the president...  Let me tell you why. We don't put pressure on the president because ya'll love the president. 

You love the president. You're very proud to have a black man -- first time in the history of the United States of America. 

If we go after the president too hard, you're going after us... 

The Congressional Black Caucus loves the president too.  We're supportive of the president, but we're getting tired, ya'll.  We're getting tired. 

 And so, what we want to do is, we want to give the president every opportunity to show what he can do and what he's prepared to lead on. 

We want to give him every opportunity, but our people are hurting. The unemployment is unconscionable. We don't know what the strategy is... 

 All I'm saying to you is, we're politicians...  We are trying to do the right thing and the best thing. When you let us know it is time to let go, we'll let go."

Two years later and blacks would rather cry racial injustice from a non-racially based confrontation than cry for economic justice to the man in the Oval Office who is supposed to be one of them and yet really doesn't give an F about them..

The 'Weekend At Bernie's' Economy

Amid last night's staggering 7.3% drop in Japan's market, the Nikkei in only one trading day and the fact it Should have pulled this market down with it, a small group of us were sitting around trying to analyze it.

One astute colleague summarized it so succinctly:

"We are living through a 'Weekend at Bernies' economy.

For those not familiar with the 1980s film, the basic plot involved two losers who make a serious financial error while working for Bernie.  He pretends to be thrilled and invites them over to his beach house for the weekend but in reality is going to have them killed.

What ends up happening is Bernie himself is killed due to a Mafia hit because he's having an affair with the mob boss' wife.

OK, now the plot itself is irrelevant to what we're referring to..  That was just provided to familiarize those who may not quite have remembered this comedy.

Here's the relevant part:  These two losers take this dead guy Bernie; this motionless corpse and keep him 'alive' for the weekend.

So Bernie is propped up, carted around..  Everyone who interacts with Bernie is so deeply stupid, they buy the premise and accept he's alive.  Some characters in the film even have lengthy one-sided conversations that go on and on while completely oblivious.

And that's our economy.

The two losers are played by a bearded soft-spoken loser named Ben Bernanke who has taken a dead stock market and given it a fake 'life' and all the genuinely stupid people-- the amateur investor, the common folk who judge the success of the economy by a Dow number, etc.. they have swallowed this up.

The professional Investor, banks, major corporations, hedge fund managers, derivatives traders, etc... They all know 'Bernie' is dead as a donkey.  But it serves their nefarious purposes to not only play along but encourage the ruse.

We make no secret of this-- we want the market to drop precipitously and for extended duration...  We want the stock market to once again accurately reflect the True state of the US economy.

And if/when our desires become reality, you will see the market drop from this artificial 15,300 or such to the 7,500 to 8,000 range.

That is where the market should be because That is where the US economy is.

We don't want the economy where it is now.. this Fiction.  We want to see these super-wealthy people lose Everything ideally and end once and for all, this confidence con-game of carrying around a flat-lined economy and dancing it around like there's a pulse.

And as long as Fed Chairs can manipulate the stock market to give the ruse of 'recovery' and it bumps up Presidential and Congressional polls, very little to nothing will ever be done legislatively to pass bills that create jobs or much of anything the bottom 99% can feel.

Remember the vast majority of Congresspeople of both parties are Filthy rich multi-millionaires.  Even President Obama has a net worth of over $6.5 million mainly due to the success of his books.

Where do these wealthy people keep all their money?  In banks??

No-- the stock market.  So they will do whatever is necessary i.e spend whatever is necessary... Spend billions or trillions or even quadrillions to protect their millions.  

And why not go all-in?  Its taxpayer money, not theirs.

And if it takes carrying around a dead 'Bernie' and flailing its arms all about to give the appearance of life, then that's what they're going to do until they're either stopped or its no longer in their interest...

When enough everyday American suckers prop up the market by investing their sacred nest-eggs and re-stimulate the economy via debt-based consumption, then the financial elite can put 'Bernie' back in the box

We want this stock market to Crash badly..  You really should to.

Why We Wish McCain was President today (and its not for reasons you think)

They keep using the word 'recovery'...  the filthy excrement at the Fed and in the White House and Congress and corporate media..

Even when admitting today the job market is weak, that bastard Fed Chair tells Congress it is vital to continue the $85billion/month in asset purchases ($1.967 million per SECOND) to keep the market strong and continue the 'recovery'...

And of course the idiots on Capital Hill swallowed it up..

Recovery.. Recovery.. Recovery..

"Look into my eyes... Recovery.. Recovery.. Recovery..."

~ Ahh Protests!-- remember the 'good ole days' when 'W' was in office?

We know we will upset a few people in saying this, and possibly stir a contentious debate but its really a shame McCain did not win election in 2008 and thus be serving a second term today...

Why?

Simple.. Because no way in Hell would anyone allow a Republican President to get away with taking positive credit for an economy that for the last five years have been closer to that of a beached whale!

You would have seen mass demonstrations on the streets by every liberal group under the sun demanding the White House do something to fix the economy and get people back to work.. To stop the wars.. To stop funneling trillions of dollars into that God Damn stock market!

You'd see protesters young and old take to the street in masses like they did in 2003 to protest the ultimate invasion of Iraq by Bush.

You'd see perhaps another 'Million-Man march' by black leaders to protest the fact they've been utterly ignored and their social and economic problems have gotten dramatically worse!  Unfortunately they're either cowards or still in sycophantic awe of their guy...

Maybe you'd see confrontations with police.. Maybe Riots..

Who knows..

Where's the demonstrators calling Obama the same things they called Bush--  'War Mongerer'.. 'Hitler-like'.. 'A God Damn Liar'...  Where's all the passionate defenders of democracy and freedom?  Where's the vicious, cruel signs against a do-nothing still in office?

Its quite hypocritical but what can one do..

Some groups tried to protest the Obama Administration's handling of the economy and being so cozy-cozy with Wall Street.  But then the DNC threatened to take away funding -- no way would they allow liberal groups to embarrass them -- and that was that..

Tell you one thing and you know this to be true..

Absolutely No way in Hell would those who are Awake and see the continual economic decline of this once great nation ever allow John McCain to have a moment's peace; to have his 'legacy',

They would Never allow VP Sarah Palin, someone the political left irrationally despises to the point of blood lust, the opportunity to springboard a supposedly 'successful' two terms in office as a rallying point to run for President herself..

Nope.. you would see social action as you've never seen it before!

You would see television and newspaper coverage non-stop of people being evicted from their homes.. living in cars... children crying as mothers hold them and try to give some comfort..

You'd see interviews with people now homeless and destitute who once had gainful employment..  There'd be stories on the fracturing of the family.. high divorce rates.. suicides..  A disenchanted and detached youth who feel no hope for the future..

You'd see All the news stories that outside US news like Russia Today accurately covers but the mainstream media does not..  And the media didn't choose to protect your sensitive eyes and ears to the truth or fear of dwindling ratings..

~ Where's the anti-war protesters who needed to show the coffins today?

If McCain/Palin ran the show, you'd see the same pro-Fed, pro-wealthy, pro-war policies as Obama.. Its just the media would counter with 24/7 gloom and doom

And the only reason you don't see this depression covered properly and responsively is that the wrong party is in office to go all negative and paint a picture of utter despair.

Especially the first black president...

Would set a bad precedent.  Too politically incorrect.

Sorry, that's just the blunt truth of it...

So we wish a Republican was in office today.

Not because we think things would be better..

It's just that people would be outwardly Far, Far angrier and despondent... Without the bullshit veneer of empty 'hope' clouding the eyes which Obama peddled so well

And maybe, just maybe you might have a populace that was, to borrow a famous phrase, "Mad as Hell and Not going to take it Anymore!"

A Specific Contrast example of how IRS treated Tax-Exempt Filers

There's so many big stories this week and so little regarding economics and finance, we've been hesitant to really spend much time getting into the fray.

You got the Bengazi situation from last year coming back into focus for at least another week or so, the IRS admitting they targeted both Conservative and Jewish organizations with unfair bias when applying for tax-exempt status, and Associated Press claiming the government seized phone records over a two month period in 2012 in a probe to see how they gather their news in the wake of a CIA operation in Yemen...

Wheww~

The problem with most news like this is that nothing ever comes about..

No prosecutions.. No voluntary resignations.. No impeachments..

There's some hubbub and rigmarole to incite partisan passions and then the weekend rolls around and all everyone is concerned about is Memorial Day weekend preparations and the symbolic beginning of 'summer fun'.

Oh trust us-- we wish and hope any or all of these three situations blow up into a mighty political dust-cloud.. preferably so large it gets into the eyes of and badly stings n' blinds Wall Street.

Of course if the final result of all this is a 'President Joseph Biden', that's not That much for political enemies of the President to celebrate, is it?

If we had to focus on one of the three current stories making the rounds, we'll take on the most dry topic--  IRS.  Always a challenge to see if one can make dry toast taste like a warm buttery croissant..

What makes what the IRS (and whoever instructed them) so evil isn't merely the targeting of groups from a political or religious affiliation, but the combination of stall tactics and deep intrusion via the questioning to make the applying for tax-exempt status as sadistic as possible.

According to the DailyMail UK, one Tea Party group, the Richmond Tea Party was asked 55 questions after more than two years for waiting...  Fifty-Five!

Here's a mere sampling:

3) Provide the following information for all the events and programs you have conducted and participated from October 22,2010 to now (other than the events and programs that are questioned below separately). Please answer the following for each event:

a) The time, location, and detailed description of each event or program

b) Copies of handouts you provided to the audience, participants, and the public

c) The names and credentials of the organizers

d) If speeches or forums were conducted in the event or program, provide detailed contents of the speeches or forums, names of the speakers or panels, and their credentials. If any speakers or panel members were paid, provide the amount were paid for each person. If not, please indicate they volunteered to conduct the event or program.

e) The names of persons from your organization and the amount of time they spent on the event or program. Indicate the name and amount of time they spent on the event or program.  

f)  Indicate the name and amount of compensation that were paid to each person' If no one were paid, indicate this event were conducted by volunteers to each person.  Indicate the percentage of time and resources you spent on all the events and programs in relation to 100% of all your activities.

g) Will your near future events and programs remain similar to those you have been conducting recently? If not, explain the changes of your events and programs in the near future in terms of contents, time, and resources.

Indicate.. Indicate.. Indicate!!

Marsha.. Marsha.. Marsha!!  (Brady Bunch reference there)

Now when President Obama's brother Malik applied for tax exempt status to the Barak H. Obama Foundation, senior IRS official Lois Lerner granted it rather quickly...

How quick?  18 months?  12?   maybe 6?

Nope--  1 month.

Lerner also appears to have broken with the norms of tax-exemption approval by granting retroactive tax-exempt status to Malik Obama’s organization.

From DailyCaller:

"Lerner granted the organization a 501(c) determination and even gave it a retroactive tax exemption dating back to December 2008.

The group’s available paperwork suggests an extremely hurried application and approval process. For example, the group’s 990 filings for 2008 and 2009 were submitted to the IRS on May 30, 2011, and its 2010 filing was submitted on May 23, 2011.

Lerner signed the group’s approval [pdf] on June 26, 2011.

It is illegal to operate for longer than 27 months without an IRS determination and solicit tax-deductible contributions."

The ostensibly Arlington, Va.-based charity was not even registered in Virginia despite the foundation’s website including a donation button that claimed tax-exempt status.

A little background on Abon’go “Roy’ Malik Obama-- He is Barack Obama’s half-brother and was the best man at his wedding, and he has a checkered past. In addition to running his charity, Malikran unsuccessfully to be the governor of Siaya County in Kenya.

He was accused of being a wife beater and seducing the newest of his twelve wives while she was a 17-year-old school girl.

So Lerner approves tax-exempt status for that Foundation in one month and retrogrades it by 36 months, but will ask the Richmond Tea Party this:

10)Are you a membership organization? If so, provide the following for your membership.

a) How many members do you have currently?

b) What does the memberships consist of? Are they mostly individuals? What is the percentage of the organizational members as they are part of the whole membership?

c) Provide member application/registration form

d) Provide membership agreement and rules that governs members.

e) Provide a membership fee schedule.

f) What are the membership requirements?

g) What services and benefits do you provide especially for members only?

h) What are the roles and duties of your members?

i) Provide copies of your website that your members can only access.

In a free society like ours it is truly unacceptable for any group of people to be targeted in this way based on mere ideological opinions.  But in a way its not surprising..

Government is paranoid... So desperately afraid of any force(s) threatening its power.   Remember- you work for its benefit, not it working for yours.

And when the Dept of Homeland Security buys 10s of thousands of automatic weapons and hundreds of thousands of bullets to arm local police, trust us,its not to fight an enemy thousands of miles away.

Like we said, we hope this turns into something Big... We Hope lots of head will roll for this..  Major repercussions...

But we've been burnt so many times..

So for now, we'll just sit back and observe while not being tempted by the enticing possibility of sparks turning into gorgeous wildfire...

And think on happy things..  Like cats and piggies