Clipmarks | blueridge's 'bush' clips

$10.2 Trillion: National Debt Clock Goes Bust

Fri, 10 Oct 2008 11:03:04 GMT

clipped by: blueridge
clipper's remarks: George Bush's legacy and the cost of war. How appropriate for the Debt Clock to run out of numbers. It's so symbolic, like the clock itself staggered at the number. The figure is absolutely outrageous and completely unjustifiable. And republicans used to be the party of limited instead of Big Government. The consequences are now all coming back. But Democrats should not gloat too much, they had plenty of support for the same spending packages and gave Bush whatever he wanted (fools). The ignorant flag-waving American public now realizes they were pushed into war under false pretenses and lies.

Clip Source: news.yahoo.com

NYC National Debt Clock runs out of digits

NEW YORK - In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure.

As a short-term fix, the digital dollar sign on the billboard-style clock near Times Square has been switched to a figure — the "1" in $10 trillion. It's marking the federal government's current debt at about $10.2 trillion.

The Durst Organization says it plans to update the sign next year by adding two digits. That will make it capable of tracking debt up to a quadrillion dollars.

The late Manhattan real estate developer Seymour Durst put the sign up in 1989 to call attention to what was then a $2.7 trillion debt.

Tags: congress, bush, national debt, republicans, war, government spending

The House Sides with Main St: "No Deal" to Banksters!

Tue, 30 Sep 2008 05:44:47 GMT

clipped by: blueridge
clipper's remarks: In this real game of "Deal or No Deal" the American taxpayer finally won a round against the financial heavyweights.

While idiots in the House and talk radio (and the McCain campaign) tried to make this a partisan issue, Bloomberg tallies here that 40% of Democrats and 67% of Republicans combined together to narrowly defeat the Fed's bill that Bush supported. THAT IS CALLED A BI-PARTISAN DEFEAT OF THE BILL THAT AMERICANS IN THE MAJORITY TOLD CONGRESS THEY HATED!

Conservative talk show host Michael Savage tonight (who has been railing against Bush as a fiscal socialist and the Wall Street banksters as crooks) underscored that he was right that Americans wanted "no deal" while talk show corporate sycophants (he let them have it by name)--i.e. Rush Limbaugh, Sean Hannity, and Bill O'Reilly--who supported the bailout were wrong.

The defeat of this irresponsible bill was not based upon Partisanship, but good Principle.

Clip Source: www.bloomberg.com

U.S. House Rejects $700 Billion Financial-Rescue Plan (Update7)

Sept. 29 (Bloomberg) -- The financial-rescue plan intended to restore confidence in the U.S. banking system collapsed in partisan wrangling as the House of Representatives voted down the proposal backed by the Bush administration and congressional leaders of both parties.

Markets plunged as the House rejected, by a vote of 228 to 205, the $700 billion measure to authorize the biggest government intervention in the markets since the Great Depression. The Dow Jones Industrial Average fell 778 points, or 6.98 percent to 10,365, the biggest point drop ever. The Standard & Poor's 500 Index fell 8.4 percent, the most since Oct. 26, 1987

Democrats voted 140 to 95 in favor of the legislation, while just 65 Republicans backed the bill and 133 opposed it.

President George W. Bush said he's ``very disappointed'' by the defeat in the House of his $700 billion plan.

Opponents said the measure was too risky and too costly.

Tags: financial crisis, congress, bush, fed, wall street, economy

150 Top Economists Say "Hold Off" on Bailout

Fri, 26 Sep 2008 11:11:23 GMT

clipped by: blueridge
clipper's remarks: The economists say: "not urgent right now" and "will create more problems", and "expressed alarm at the haste of lawmakers and the Bush administration to pass legislation".

Alot different than what Bush stated Wed night in his "Financial WMD speech" isn't it?

Read the advise of these experts who warn:

``The situation may get urgent, but it's not urgent right now. Right now it's a financial sector problem.''

Apparently this helped to slam on the brakes Thursday:

Today Senator Richard Shelby, a Republican from Alabama, said he has ``five pages of the leading economists in America that wrote to me and the leadership saying the Paulson plan is a bad plan. It will not solve problems. It will create more problems.''

Not hearing that on the news are we? Ask yourself why the MSM does not quote these credible experts instead of parroting the propaganda of Bush's (Fed) speech that the entire economy will collapse without a deal now.

Clip Source: www.bloomberg.com

Hundreds of Economists Urge Congress Not to Rush on Rescue Plan

Sept. 25 (Bloomberg) -- More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely.

In a letter yesterday to congressional leaders, 166 academic economists said they oppose Treasury Secretary Henry Paulson's plan because it's a ``subsidy'' for business, it's ambiguous and it may have adverse market consequences in the long term. They also expressed alarm at the haste of lawmakers and the Bush administration to pass legislation.

``It doesn't seem to me that a lot decisions that we're going to have to live with for a long time have to be made by Friday,'' said Robert Lucas, a University of Chicago economist and 1995 Nobel Prize winner who signed the letter. ``The situation may get urgent, but it's not urgent right now. Right now it's a financial sector problem.''

Tags: fed, economists, financial crisis, bailouts, congress, economy

Bush's Financial WMD Speech, Fear to Force Consent

Fri, 26 Sep 2008 03:07:52 GMT

clipped by: blueridge
clipper's remarks: Did Bush's speech sound eerily familiar? It should. It's patterned after a more successful one that produced fear and coerced Congress to act.

This Clipmark juxtaposes Bush's financial "mushroom cloud" speech--a Warning of Mass Destruction, which he employed last night to manipulate the people to push Congress despite their better judgment--against his earlier fear-mongering Iraq WMD speech of 2002 urging Americans that "we must act now" and not delay or we could face a "mushroom cloud".

The purpose and the pattern of these two speeches are remarkably similar, to use FEAR to cement national consent for bad and unjust policy. And we know the earlier one was entirely bogus.

Fortunately, Congress, particularly the fiscal conservative minority among the GOP (who fear losing their base who are calling them socialists) resisted and did not close unjust bailout deal.

Clip Source: www.rockymountainnews.com

major sectors of America's financial system are at risk of shutting down.

without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.

More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically.

And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs.

Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And, ultimately, our country could experience a long and painful recession.

Fellow citizens, we must not let this happen.

Clip Source: archives.cnn.com

October 8, 2002

America must not ignore the threat gathering against us

that could come in the form of a mushroom cloud

Tags: bush's financial speech, bush's wmd speech, mushroom cloud, financial crisis

Now Who Will Bailout the Federal Government?

Thu, 25 Sep 2008 05:31:58 GMT

clipped by: blueridge
clipper's remarks: Contrary to Bush's speech this is what Americans should really be afraid of. Here is a sneak preview to a Forbes 9/28 article from Economics professor at Boston University.

The real liability facing our government is $70 trillion. This represents the present value difference between all the government's projected future spending obligations and all its projected future tax receipts. This fiscal gap takes into account Uncle Sam's need to service
official debt--outstanding U.S. government bonds. But it also recognizes all our government's unofficial debts, including its obligation to the soon-to-be-retired baby boomers to pay their Social Security and Medicare benefits.

(The link in the clipmark goes to a pdf of his paper that will be published in Forbes)

Clip Source: people.bu.edu

LAURENCE J. KOTLIKOFF

Department of Economics
Boston University

Is the U.S. Going Broke?
Forbes, September 28, 2008.

Tags: government spending, national debt, financial crisis, deficit, bush, congress

Godfather Fed Boss Bernanke Threatens Congress

Tue, 23 Sep 2008 20:07:35 GMT

clipped by: blueridge
clipper's remarks: Essentially, "give us the money or else". The Fed is taking over, the Treasury and President are sycophants. The bosses are in charge and coercing Congress to fork over the taxpayers money for crooks that are responsible for their own trouble.

DO NOT BAIL THEM OUT, LET THEM FALL.

Their plan WILL NOT PREVENT FORECLOSURES for the government will become the Collector for debts and people who cannot pay, cannot pay. This will only bailout the Banksters!

Time to call Bernanke's bluff. The Fed is not our dictator.

Clip Source: www.breitbart.com

Bernanke: Recession more likely without bailout

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke bluntly warned reluctant lawmakers Tuesday they risk a recession with higher unemployment and increased home foreclosures if they fail to pass the Bush administration's $700 billion plan to bail out the financial industry.

Bernanke sketched a scenario in which neither businesses nor consumers could borrow money as President Bush and top lawmakers leaders in both parties voiced hope for agreement within days on a plan to ease the crisis.

"Nobody wants to have to do this," agreed Rep. John Boehner of Ohio, the Republican leader. He said he was hopeful of a quick agreement, despite withering criticism from conservative GOP lawmakers, some of whom likened the plan to socialism.

With the stock market headed lower in early afternoon, the stakes were unmistakable. Treasury Secretary Henry Paulson said Congress must pass the legislation this week.

Tags: fed, congress, financial crisis, federal reserve, bush, treasury, economy

Pakistan Fires on U.S. Copters Intruding Airspace

Tue, 23 Sep 2008 01:14:16 GMT

clipped by: blueridge
clipper's remarks: The US military continues to make incursions and attacks within Pakistan from Afghanistan, using both drones and special forces, despite Paki warnings.

We demand the Russia respect the sovereignty of Georgia"
-- George W. Bush, Sept. 2008

Yet the US does not respect the sovereignty of Iraq, Afghanistan, Pakistan, or South Ossetia.

Clip Source: in.reuters.com

2-Pakistani troops fire on intruding U.S. choppers

ISLAMABAD, Sept 22 (Reuters) - Pakistani troops fired on two U.S. helicopters that intruded into Pakistani airspace on Sunday night, forcing them to turn back to Afghanistan, a senior Pakistani security official said on Monday.

It was the second such incident in a week, and reflects frayed relations with the United States over Pakistan's failure to act more forcibly against Islamist fighters in the tribal lands bordering Afghanistan.

The number of missile attacks by U.S. drone aircraft in the remote tribal areas has multiplied in recent weeks.

The helicopters violated the border in the area of Lowara Mandi, 40 km (25 miles) west of Miranshah, the main town in the North Waziristan tribal region, at around 9 p.m. on Sunday, the official said, speaking on condition of anonymity because of the sensitivity of the subject.

There was no official confirmation.

Tags: pakistan, war, bush, sovereignty

Bailouts Represent Usurped Dictatorial Powers by Bush, Fed, and Treasury

Sun, 21 Sep 2008 23:31:44 GMT

clipped by: blueridge
clipper's remarks: Bloomberg warns, read the whole article. Bush, the Fed, the Treasury are seizing power, upon an Economic 9/11, and Congress is being coerced into immediate conformity (not wanting to take the blame for "doing nothing", while the financial companies who caused it escape accountability with free bailout) during an election season (Obama and McCain are quoted). The power is dictatorial and dangerous. It is in fact another Usurpation of power.

Clip Source: www.bloomberg.com

Treasury Seeks Authority to Buy $700 Billion Assets (Update1)

Sept. 20 (Bloomberg) -- The Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments from U.S. financial companies in what would be an unprecedented government intrusion into the markets.

``It sounds like Paulson is asking to be a financial dictator, for a limited period of time,'' said historian John Steele Gordon, author of ``Hamilton's Blessing,'' a chronicle of the national debt. ``This is a much-needed declaration of power for the Treasury secretary. We can't wait until the next administration in January.''

Bigger Than Pentagon

Paulson is asking for the power to hire asset managers and award contracts to private companies. Most provisions of the proposal expire after two years from the date of enactment.

Fast Track

The Bush administration seeks ``dictatorial power unreviewable by the third branch of government, the courts, to try to resolve the crisis,''

Tags: bailout, wall street, financial crisis, bush, treasury, fed, mortgage lenders, banks, economy

Back-lash for Bailouts, GOP Senator Introduces Bill to Prevent Fed Bailouts

Fri, 19 Sep 2008 20:54:29 GMT

clipped by: blueridge
clipper's remarks: Bush is getting justly lashed by both republicans and democrats for by-passing Congress and nationalizing AIG and approving bailouts--without consulting with the elected representatives of the people! (The Fed rules Washington is why).

Almost buried in this article is that Kentucky republican Sen. Jim Bunning is introducing a bill to prevent the Fed from bailing out firms with taxpayer (i.e. printed) money. Good! Tell Congress to pass it right away

Great quote by him:

"The only difference between what the Fed did and what Hugo Chavez is doing in Venezuela is Chavez doesn't put taxpayer dollars at risk when he takes over companies. He just takes them," Bunning said.

Clip Source: www.foxnews.com

Lawmakers Balk at Bush Administration's Approaches to Financial Crisis

WASHINGTON — Republican and Democratic members of Congress lashed out the Bush administration

Meanwhile, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke were expected to meet with members of Congress from both parties at 7 p.m. at the Capitol, FOX News has learned. The exact purpose of the meeting wasn't immediately clear.

Lawmakers complained they have been sidelined as the administration bails out big money institutions, and argued that had they been involved the decisions may have been different.

"Once again the Fed has put the taxpayers on the hook for billions of dollars to bail out an institution that put greed ahead of responsibility and used their good name to take risky bets that did not pay off," said Sen. Jim Bunning, a Republican from Kentucky.

Bunning has introduced a bill that would strip the Federal Reserve of its authority to use taxpayer dollars to bail out private companies

Tags: fed, aig, lehman brothers, wall street, bail outs, bush, economy

Stock Market Continues Fall, Fed Bails Out AIG

Wed, 17 Sep 2008 22:11:35 GMT

clipped by: blueridge
clipper's remarks: Crisis continues. AIG gets what Lehman Bros did not--a bail out by the Fed.

Maybe the fact that Lehman Bros hired Jeb Bush as advisor a year ago and another Bush as asset manager (see previous clipmark on Lehman) did have a role in deciding not to bail out Lehman, which sent the market into a tail spin as investors and pension companies change their portfolios away from these firms at risk.

The Fed's "loan" will be in the form of printing more money (devaluing the dollar, increasing inflation) by the Fed (which is not a government institution, but private bank cartel). The Treasury Dept endorsed it, which is a reflection of the Bush administration.

The Fed bailout really is the nationalization of AIG (a mark of socialism, communism), since they did it for a "return of 80% public stake in the firm". The Fed "owns" AIG now.

Clip Source: news.bbc.co.uk

US government rescues insurer AIG

MARKET DATA - 21:54 UK

FTSE 100	4912.40down	-113.20	-2.25%
Dax	5860.98down	-104.19	-1.75%
Cac 40	4000.11down	-87.29	-2.14%
Dow Jones	10609.66down	-449.36	-4.06%
Nasdaq	2098.85down	-109.05	-4.94%
BBC Global 30	5106.44down	-238.36	-4.46%
Marketwatch ticker

The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy.

AIG will get an $85bn loan, in return for an 80% public stake in the firm.

Authorities are hoping the bail-out will avert the threat of a global financial meltdown.

The Fed's move is viewed by some as the most radical intervention in private business in its history and has helped fuel a tentative rally on global stock markets.

The Federal Reserve made its decision about AIG "with the full support of the Treasury Department"

The US Treasury Secretary Henry Paulson refused to bail out America's fourth-largest investment bank Lehman Brothers

Tags: aig, wall street, lehman brothers, economy, bush, financial crisis

Pakistan Orders Troops to Fire Back Against US Insurgents

Wed, 17 Sep 2008 03:08:12 GMT

clipped by: blueridge
clipper's remarks: Pakistan finally reclaims it sovereignty and orders its troops to fire back if US forces or drones violate their border again and attack on their soil (usually killing more civilians than combatants). This is the only way to change Bush policy and now forces Bush (and even Obama who says he would do same) to reconsider the consequences of such actions.

Multi-million dollar attacks using Predator drones is cowardly warfare and a clever way to hit and run while never proving who exactly was being targetted and committing gross negligence in regard to innocent civilians. This is also contrary to the principles of Just War which requires solid ID, direct confrontation where opportunity to surrender is offered, and separating civilians from combatants during any attack, instead of this "just kill them all" policy called "scorched earth". There also is no way to identify (after missiles or bombs strike) who the persons really are, or justification to attack.

Clip Source: ap.google.com

Pakistan orders troops to open fire if US raids

ISLAMABAD, Pakistan (AP) — Pakistan's military has ordered its forces to open fire if U.S. troops launch another air or ground raid across the Afghan border, an army spokesman said Tuesday.

The orders, which come in response to a highly unusual Sept. 3 ground attack by U.S. commandos, are certain to heighten tensions between Washington and a key ally against terrorism. Although the ground attack was rare, there have been repeated reports of U.S. drone aircraft striking militant targets, most recently on Sept. 12.

Pakistani officials warn that stepped-up cross-border raids will accomplish little while fueling violent religious extremism in nuclear-armed Pakistan. Some complain that the country is a scapegoat for the failure to stabilize Afghanistan.

"In case it happens again in this form, that there is a very significant detection, which is very definite, no ambiguity, across the border, on ground or in the air: open fire."

Tags: pakistan, afghanistan, bush, obama, cross-border raids

GREED: Why Lehman Bros Went Bankrupt; Jeb Bush was Advisor

Tue, 16 Sep 2008 07:46:24 GMT

clipped by: blueridge
clipper's remarks: Great video reports from MSNBC. (Click on the original clip link to go straight to video).

NBC news tonight, Mon. Sept 15th had an excellent news piece explaining the magnitude of this financial crisis.

But now note this! From a reuters news report one year ago, Aug. 2007:

Lehman hires Jeb Bush as private equity advisor 30 Aug 2007 Lehman Brothers has hired Jeb Bush, brother of the President of the United States, as an advisor to its private equity business, a source familiar with the situation said. Lehman hired another relative of U.S. President [sic] George W. Bush last year--George Walker, a second cousin, who heads up the bank's asset management business.

So guess who advised them poorly and managed their assets badly? Surprise!

Clip Source: video.msn.com

[Video]

The Wall Street fallout

Sept. 15: CNBC’s Dylan Ratigan talks to MSNBC’s Contessa Brewer about how Lehman Brothers got to the point where the company needed to file bankruptcy and what could possibly happen once the dust s... (more)

Related Videos (view all)

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Tags: lehman brothers, banks, jeb bush, bush, economy, wall street, housing crisis

The Bush Doctrine: Preventive, Not Pre-emptive War

Sat, 13 Sep 2008 20:47:27 GMT

clipped by: blueridge
clipper's remarks: While Krauthammer (neoconservative columnist) desperately covers for Palin in the aftermath of the ABC Gibson interview Robert Schlesinger gets it right. Palin and Gibson were both wrong, and Palin not even close. His playground analogy makes it clear and that the neocons have confused "pre-emptive war" with "preventive" demonstrates the difference between just and unjust war.

For the record, Charles Gibson didn't get the Bush Doctrine right either. But at least, unlike Sarah Palin, he had an idea of what he was talking about (a cornerstone of U.S. foreign policy for the last six years).

Read the full article.

Recall Ron Paul's excellent line in the republican debates about America's greatest moral problem:

"We in the past have always declared war in the defense of our liberties or go to aid of somebody...But now we have accepted the principle of preemptive [i.e. preventive] war — we have rejected the Just War theory of Christianity.[/q
Clip Source: www.usnews.com
Sarah Palin and Charlie Gibson Got the Bush Doctrine Wrong: It's Preventive War, Not Pre-emptive
Clip Source: www.usnews.com
Actually, it's preventive war, not pre-emptive. There's a key difference: Pre-emptive war is a long-accepted, noncontroversial practice—if an enemy is clearly massing and about to attack you, you get to strike them pre-emptively.
But the Bush Doctrine is one of preventive war: Attacking another country in order to prevent them from becoming a threat at some nebulous point down the line. To return to the playground analogy, it's as if you hauled off and socked someone because they looked at you funny—that odd look could be a signal that at some point in the future they're going to hit you. Better safe than sorry. But now you're the bully.
The Bush Doctrine of preventive war was controversial and revolutionary. While Bush and his cronies repeatedly conflated the two concepts by referring to his new scheme as "pre-emptive" rather than "preventive," they are not the same.

Tags: charles gibson interview with sarah palin, sarah palin, bush doctrine, pre-emptive war, preventive war, just war theory

Putin on Bush: Bush "Not in Charge" of US Affairs

Fri, 12 Sep 2008 10:08:57 GMT

clipped by: blueridge
clipper's remarks: This is real interesting. Three things at least can be learned:

1. Putin is on to the neoconservatives, who have Bush's ear, and control him to a great degree. Putin is right: Bush is a Puppet President

2. Putin knows Cheney's influence over Bush, who is driving the Georgia-Russia and NATO-Russia neocon led conflict. Bush is stupid and easily manipulated to a large degree.

3. Putin is naive and stupid to separate Bush the man from Bush policies. He speaks against Russia now, therefore against Putin. Reason? Bush has the ability to make light and "charm" (for lack of better word) others into frivolity and laughter, but which is a decoy from his serious crimes and corrupt actions.

I wrote earlier in regard to Russia, Bush treated Putin well at his ranch in Texas after 9/11 (which was an excuse for Putin to trample Chechnyans by branding them "terrorists"), but now he will stab him in the back (missile treaties around Russia for NATO).

Clip Source: www.timesonline.co.uk

George Bush isn't in charge, says Vladimir Putin

In a thinly veiled dig at George Bush, Vladimir Putin today suggested that the US President was not in charge of American affairs, saying that it was “the court that makes the king”.

He nonetheless spoke fondly of his relationship with Mr Bush, saying, only half-jokingly: ”I treat President Bush better than some Americans would”.

At times Mr Putin displayed genuine anger, particularly when discussing the deployment of US navy warships just off the Russian Black Sea coast. Much of his criticism was aimed directly at the Bush administration which he accused of training and army the Georgian military and encouraging its leadership to launch last month’s assault on the breakaway province of South Ossetia.

"Should we have wiped the bloody snot off our face and bowed our head? Should we have waved our penknives?” he said in response to the mobilisation of Georgian tanks and troops.

Tags: putin, bush, russia, neoconservatives, cheney

Israel Wants to Attack Iran, US Military Aid Denied

Fri, 12 Sep 2008 09:05:08 GMT

clipped by: blueridge
clipper's remarks: Israel is impotent without the U.S.. They have always used America in their own war agendas. Note the strategic importance in the big picture of Iraqi air space which this Israeli news article mentions! This is just one reason why Israel and the neocon agenda demanded regime change in Iraq, which clears the way for further wars of aggression in the region by Israel, under a pretense of a "war on terrorism" (which both Obama and McCain will continue).

Note too that while the US has been somewhat restraining Israel, this is mentioned too:

Prime Minister Ehud Olmert, in private discussions, even raised the possibility that the U.S. was considering an attack in the transition period between the election in November and the inauguration of the new president in January 2009.

Clip Source: haaretz.com

Israel asks U.S. for arms, air corridor to attack Iran

The security aid package the United States has refused to give Israel for the past few months out of concern that Israel would use it to attack nuclear facilities in Iran included a large number of "bunker-buster" bombs, permission to use an air corridor to Iran, an advanced technological system and refueling planes.

Haaretz reported that the Bush administration had turned down an Israeli request for certain security items that could upgrade Israel's capability to attack Iran.

An attack on Iran would apparently require passage through Iraqi air space. For this to occur, an air corridor would be needed that Israeli fighter jets could cross without being targeted by American planes or anti-aircraft missiles. The Americans also turned down this request. According to one account, to avoid the issue, the Americans told the Israelis to ask Iraqi Prime Minister Nuri al-Maliki for permission

Tags: israel, iran, us military aid to israel, neoconservatives, bush, war