Obama is well equipped also with a plethora of reasons to vote him out. At the top would be, not one banker was put in jail. He signed to extend the Bush Tax Cuts and Patriot Act. He validated 2big 2fail with Dodd-Frank then forced Obamacare down the throats of all Americans when 66% were against the Employer Based Legislation. Obamacare, in the end regulates the Citizens and ignores the piracy of Medical Insurance.
We have Eric Holder selling guns to Mexicans. Corruption at the SEC, FAA, USDA, FDA, MMN and suits brought against states for attempting to control Criminal Free Ranging Aliens crossing our borders. The pending Dream Act will simply validate the crimes and not solve any systemic issues. A real vote getter, I'm thinking. Still embedded in our minds is the memory of Deuce Bush and Cheney's administration of the bogeyman is gonna get you. The Bogeyman turned out to be Deuce Bush who got us all.
Ben Bernanke announced last week our US economy was headed for a fiscal cliff December 31, 2012. Citing the iminent sunset of Bush Tax Cuts and the mandatory spending cuts written into the infamous Debt Ceiling legislation and subsequent failure of the Super Committee to reach consensus of how best not to throw money in or out the window at the US Treasury.
The statement from the Chairman was if Congress did not Act the weak economy would stumble over a cliff and no imaginary strings of the Federal Reserve could avert an economic collapse. Not Good News considering we are entrenched in an election year with the autistic 112th Congress. After the election the 112th Crisis Congress will have just sixty days to avoid the Bernanke Prophecy. Should make another great Dog and Pony Show.
If we can all remember for a moment back to Bush the First we recall the Graham Leach Bliley Act written to unleash the demons sequestered in the 1934 Glass Steagall Act. The deregulation of Banking first made popular by Ronald Reagan continued on until the last nail in the coffin was signed by President Bubba Clinton.
Basically my interest in Graham Leach Bliley is it allowed Investment Banks, Commercial Banks and Insurance Companies to operate under a single ownership umbrella. The 1934 Glass Steagall Act prohibited this activity as the central cause of the Great Depression. Honestly, after the Bush the First infamous Silverado Savings and Loan debacle we should have seen this one coming. The Greed was simply too great to ignore. We the People picked up the the tab in the infamous Bush quote " Read My Lips, No New Taxes".
Bush's son Neal Bush was convicted and fined before going on to making millions in the mandatory Duece Bush's signature legislation of No Child Left Behind.
The arguments made against Glass Steagall were that modern banking philosophy could avert another Great Depression through manipulation of Interest rates and money supply.
These theories have been tested in the housing debacle created from the conspiracy of Investment Banking, Commercial Banking and Insurance explosion of 2007. You will remember all the major banks and Insurance Underwriter AIG were handed the keys to the Treasury creating the illusion the new Houdini Dollars printed made the system solvent again. Even claiming The TARP money was repaid in many instances with interest. The truth buried deep in Treasury Accounting, Interest paid on free money invested in Treasury Notes and the Secret Fed Discount Window hidden from the 112th Congress. The result in contrast is the definition of Modern Banking Philosophy as the better known acronym of 2big2fail ushered in under Bush. Paulson, Geithner and Bernanke team. With the free money window open why not go ahead and bailout GM, Fiat and Airlines.
More truth revealed the so called TARP, Banking Philosophy and 2big2fail did a cracker jack job of making the stock markets rise. After all this may have been their only consideration ignoring Main Street, the Middle Class and rubber stamping the highest poverty rates since 1930. It appears to this writer that only some were spared the Second Great Depression and most are still feeling the pressure of TARP or 2big2fail.
There is some good news. This year with the help of a 7410 John Deere tractor the garden will be enormous at 20ft x 100ft. Cucumbers, Zucchini, Squash, Corn and Peppers already sprouted from seeds not plants. Growing from seeds further enhances the bounty in both costs and rich nutrients from fresh foods.....
