More GORE–Great Obama Recession Economy–Government Treasury Securites Downgraded From AAA to AA+ With A Negative Outlook By Standard & Poor’s Rating Agency–Too Little Too Late–The Austrian School of Economics Was Right!–Videos

Posted on August 6, 2011. Filed under: Blogroll, Communications, Life, Links, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Security, Strategy, Talk Radio, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , |

 

 

Research Update:
United States of America Long-Term Rating
Lowered To ‘AA+’ On Political Risks And
Rising Debt Burden; Outlook Negative

Overview

· We have lowered our long-term sovereign credit rating on the United
States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term
rating.
· We have also removed both the short- and long-term ratings from
CreditWatch negative.
· The downgrade reflects our opinion that the fiscal consolidation plan
that Congress and the Administration recently agreed to falls short of
what, in our view, would be necessary to stabilize the government’s
medium-term debt dynamics.
· More broadly, the downgrade reflects our view that the effectiveness,
stability, and predictability of American policymaking and political
institutions have weakened at a time of ongoing fiscal and economic
challenges to a degree more than we envisioned when we assigned a
negative outlook to the rating on April 18, 2011.
· Since then, we have changed our view of the difficulties in bridging the
gulf between the political parties over fiscal policy, which makes us
pessimistic about the capacity of Congress and the Administration to be
able to leverage their agreement this week into a broader fiscal
consolidation plan that stabilizes the government’s debt dynamics any
time soon.
· The outlook on the long-term rating is negative. We could lower the
long-term rating to ‘AA’ within the next two years if we see that less
reduction in spending than agreed to, higher interest rates, or new
fiscal pressures during the period result in a higher general government
debt trajectory than we currently assume in our base case. 

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

President Obama’s Statement on Credit Downgrade  

 

 

Peter Schiff: Welcome to the Twilight Zone

 

 

Obama Has Dictatorial Power To Confiscate Europe’s Gold

 

S&P: Why we downgraded the U.S.

 

 Ron Paul On Neil Cavuto: Talks about The AAA Rating Downgrade To AA+

 

S&P Downgrades US Credit Rating From AAA

 

S&P Downgrades US Credit Rating (First Time IN HISTORY)

 

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

 

 

The Austrians Were Right

 

Peter Schiff on Charles Adler (8/5/11)

 

 

“The market going down has nothing to do with S&P downgrade” Jim Rogers

 

The Fed’s ‘Fictitious’ Debt – Can the US Treasury just stiff the fed?

 

Peter Schiff On Freedom Watch- 1 8 2011 – The US will default through inflation

 

Peter Schiff – ‘Recession is coming back’

 

Peter Schiff: More Money is about to be Dropped from Helicopters

 

AAA-rmageddon: S&P downgrade knocks off US credit crown

 

S&P downgrades US debt outlook-On the Edge with Max Keiser-04-29-2011-(Part1)  

S&P downgrades US debt outlook-On the Edge with Max Keiser-04-29-2011-(Part2)

 

Interview on Credit Rating Agencies

 

The essence of the problem is simply massive Federal Government spending  and not too little tax revenues.

President Obama’s is one of the primary causes of the problem with his ridiculous budget proposal that was voted down in the Senate by 97 Senators voting No!

President  Obama’s call for a  ” balanced approach” to the budget or massive tax increases in 2013 and beyond as the economy enters another recession is a firm indication that he is an economic illiterate, out of touch with economic reality and deserves to be fired next November for incompetence and the damage his economic policies to the American people.

Instead of running deficits over the next ten years of $7,000 to $8,000 billion and increasing the national debt by another $7,000 to $8,000 billion, the size of the Federal Governments needs to cut by about 30% to 50% and the national debt reduced over the several decades.

This would require actually cutting entitlement programs ( Social Security, Medicare, Medicaid, and welfare), national defense spending, and all other spending by permanently closing between eight to ten Federal Departments, many agencies, and hundreds of government programs.

Also the Federal income tax system needs to be replaced by the FairTax to encourage economic growth by increasing savings and investment which would in turn reduce unemployment and the Federal deficit.

The FairTax: It’s Time

Lugar Cosponsors the FairTax

Neither the Democratic or Republican political establishments have the vision, will or courage to do this.

While the majority of the  American people are prepared for and calling for a huge downsizing of the Federal Government, the political ruling class is opposed to any significant reduction in the size and scope of the Federal Government.

For both political parties most of their campaign contributions come from those companies and individuals who directly benefit from an ever larger and expanding Federal Government and a National Debt.

This includes bankers and financial institutions, the military industrial complex, lawyers, lobbyists, unions, just to name a few of the big campaign contributors.

 

S&P downgrades US credit rating from AAA

“…The United States has lost its sterling credit rating from Standard & Poor’s.

The credit rating agency on Friday lowered the nation’s AAA rating for the first time since granting it in 1917. The move came less than a week after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion — a tumultuous process that contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.

The drop in the rating by one notch to AA-plus was telegraphed as a possibility back in April. The three main credit agencies, which also include Moody’s Investor Service and Fitch, had warned during the budget fight that if Congress did not cut spending far enough, the country faced a downgrade. Moody’s said it was keeping its AAA rating on the nation’s debt, but that it might still lower it.

One of the biggest questions after the downgrade was what impact it would have on already nervous investors. While the downgrade was not a surprise, some selling is expected when stock trading resumes Monday morning. The Dow Jones industrial average fell 699 points this week, the biggest weekly point drop since October 2008. …”

http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html

Background Articles and Videos

 

Treasury Bond Prices and Yields

 

The Gold Standard Before the Civil War | Murray N. Rothbard

 

The Case for a 100 Percent Gold Dollar (Part 1 of 2) by Murray N. Rothbard

 

The Case for a 100 Percent Gold Dollar (Part 2 of 2) by Murray N. Rothbard

 

Open Market Operations

Open market operations–purchases and sales of U.S. Treasury and federal agency securities–are the Federal Reserve’s principal tool for implementing monetary policy. The short-term objective for open market operations is specified by the Federal Open Market Committee(FOMC). This objective can be a desired quantity of reserves or a desired price (the federal funds rate). The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.The Federal Reserve’s objective for open market operations has varied over the years. During the 1980s, the focus gradually shifted toward attaining a specified level of the federal funds rate, a process that was largely complete by the end of the decade. Beginning in 1994, the FOMC began announcing changes in its policy stance, and in 1995 it began to explicitly state its target level for the federal funds rate. Since February 2000, the statement issued by the FOMC shortly after each of its meetings usually has included the Committee’s assessment of the risks to the attainment of its long-run goals of price stability and sustainable economic growth.For more information on open market operations, see the article in the Federal Reserve Bulletin(102 KB PDF).http://www.federalreserve.gov/monetarypolicy/openmarket.htm

Federal Funds Target Rate
Month/Day 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Jan 1 6.50% 1.75% 1.25% 1.00% 2.25% 4.25% 5.25% 4.25% 0%-0.25% 0%-0.25% 0%-0.25%
Feb 1 5.50% 1.75% 1.26% 1.00% 2.25% 4.50% 5.25% 3.00% 0%-0.25% 0%-0.25% 0%-0.25%
Mar 1 5.50% 1.75% 1.25% 1.00% 2.50% 4.50% 5.25% 3.00% 0%-0.25% 0%-0.25% 0%-0.25%
Apr 1 5.00% 1.75% 1.25% 1.00% 2.75% 4.75% 5.25% 2.25% 0%-0.25% 0%-0.25% 0%-0.25%
May 1 4.50% 1.75% 1.25% 1.00% 2.75% 4.75% 5.25% 2.00% 0%-0.25% 0%-0.25% 0%-0.25%
Jun 1 4.00% 1.75% 1.25% 1.00% 3.00% 5.00% 5.25% 2.00% 0%-0.25% 0%-0.25% 0%-0.25%
Jul 1 3.75% 1.75% 1.00% 1.25% 3.25% 5.25% 5.25% 2.00% 0%-0.25% 0%-0.25% 0%-0.25%
Aug 1 3.75% 1.75% 1.00% 1.25% 3.25% 5.25% 5.25% 2.00% 0%-0.25% 0%-0.25% 0%-0.25%
Sep 1 3.50% 1.75% 1.00% 1.50% 3.50% 5.25% 5.25% 2.00% 0%-0.25% 0%-0.25%  
Oct 1 3.00% 1.75% 1.00% 1.75% 3.75% 5.25% 4.75% 2.00% 0%-0.25% 0%-0.25%  
Nov 1 2.50% 1.75% 1.00% 1.75% 4.00% 5.25% 4.50% 1.00% 0%-0.25% 0%-0.25%  
Dec 1 2.00% 1.25% 1.00% 2.00% 4.00% 5.25% 4.50% 1.00% 0%-0.25% 0%-0.25%

http://www.moneycafe.com/library/fedfundsrate.htm

United States Treasury security  

“…A United States Treasury security is government debt issued by the United States Department of the Treasury through the Bureau of the Public Debt. Treasury securities are the debt financing instruments of the United States Federal government, and they are often referred to simply as Treasuries. There are four types of marketable treasury securities: Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS). There are several types of non-marketable treasury securities including State and Local Government Series (SLGS), Government Account Series debt issued to government-managed trust funds, and savings bonds. All of the marketable Treasury securities are very liquid and are heavily traded on the secondary market. The non-marketable securities (such as savings bonds) are issued to subscribers and cannot be transferred through market sales.

History

The U.S. government knew that the costs of World War I would be great, and the question of how to pay for the war was a matter of intense debate. The resulting decision was to pay for the war with a balance between higher taxes (see the War Tax Act) and government debt. Traditionally, the government borrowed from other countries, but there were no other countries from which to borrow in 1917: U.S. citizens would have to fully finance the war through both higher taxes and purchases of war bonds.[1]

The Treasury raised funding throughout the war by selling $21.5 billion in ‘Liberty bonds.’ These bonds were sold at subscription where officials created coupon price and then sold it at Par value. At this price, subscriptions could be filled in as little as one day, but usually remained open for several weeks, depending on demand for the bond.[1]

After the war, the Liberty Bonds were reaching maturity, but the Treasury was unable to pay each down fully with only limited budget surpluses. The resolution to this problem was to refinance the debt with variable short and medium-term maturities. Again the Treasury issued debt through fixed-price subscription, where both the coupon and the price of the debt were dictated by the treasury.[1]

The problems with debt issuance became apparent in the late-1920’s. The system suffered from chronic oversubscription, where interest rates were so attractive that there were more purchasers of debt than supplied by the government. This indicated that the government was paying too much for debt. As government debt was undervalued, debt purchasers could buy from the government and immediately sell to another market participant at a higher price.[1]

In 1929, the U.S. Treasury shifted from the fixed-price subscription system to a system of auctioning where ‘Treasury Bills’ would be sold to the highest bidder. Securities were then issued on a pro rata system where securities would be allocated to the highest bidder until their demand was full. If more treasuries were supplied by the government, they would then be allocated to the next highest bidder. This system allowed the market to set the price rather than the government. On December 10, 1929, the Treasury issued its first auction. The result was the issuing of $224 million three-month bills. The highest bid was at 99.310 with the lowest bid accepted at 99.152.[1]

Foreign countries later started to buy U.S. debt as an investment of their surplus U.S. Dollars. There is fear that foreign countries hold so many bonds that if they stopped buying them, the U.S. economy would collapse; however, the reality is that more bonds are transferred in a single day by the Treasury than are held by any single sovereign state.[2] The perception of this dependence furthers belief that the U.S. and China economies are so tightly linked that both fear the consequences of a potential slow down in China’s purchase of those bonds. In her 2010 visit to China, the U.S. Secretary of State Hillary Clinton called on authorities in Beijing to continue buying U.S. Treasuries, saying it would help jumpstart the flagging U.S. economy and stimulate imports of Chinese goods.[3]

As the economic recession continues, more doubts arise over the real value of U.S. treasury securities. Though carefully worded, Chinese premier Wen Jia Bao’s warning about possible devaluation of Chinese held U.S. bonds was taken very seriously by Washington:

“Of course we are concerned about the safety of our assets. To be honest, I’m a little bit worried” … “I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets.”[4]Chinese premier, Wen Jiabao, said at a news conference after the closing of China’s 2009 legislative session.

However, it is important to note that such comments, while critical, were very likely indicative of Chinese “gesturing” ahead of the April 1st G-20 Economic Summit. As of April 2009, the U.S. dollar had rallied YTD against all other major world currencies. On March 18, 2009, the Federal Reserve used quantitative easing “to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months.”[5]

Marketable securities

 Directly issued by the United States Government

 Treasury bill

“Treasury bill” redirects here. Note that the Bank of England issues these in the United Kingdom.

Treasury bills (or T-Bills) mature in one year or less. Like zero-coupon bonds, they do not pay interest prior to maturity; instead they are sold at a discount of the par value to create a positive yield to maturity.[6] Many regard Treasury bills as the least risky investment available to U.S. investors.

Regular weekly T-Bills are commonly issued with maturity dates of 28 days (or 4 weeks, about a month), 91 days (or 13 weeks, about 3 months), 182 days (or 26 weeks, about 6 months), and 364 days (or 52 weeks, about 1 year). Treasury bills are sold by single-price auctions held weekly. Offering amounts for 13-week and 26-week bills are announced each Thursday for auction, usually at 11:30 a.m., on the following Monday and settlement, or issuance, on Thursday. Offering amounts for 4-week bills are announced on Monday for auction the next day, Tuesday, usually at 11:30 a.m., and issuance on Thursday. Offering amounts for 52-week bills are announced every fourth Thursday for auction the next Tuesday, usually at 11:30 am, and issuance on Thursday. Purchase orders at TreasuryDirect must be entered before 11:00 on the Monday of the auction. The minimum purchase, effective April 7, 2008, is $100. (This amount formerly had been $1,000.) Mature T-bills are also redeemed on each Thursday. Banks and financial institutions, especially primary dealers, are the largest purchasers of T-bills.

Like other securities, individual issues of T-bills are identified with a unique CUSIP number. The 13-week bill issued three months after a 26-week bill is considered a re-opening of the 26-week bill and is given the same CUSIP number. The 4-week bill issued two months after that and maturing on the same day is also considered a re-opening of the 26-week bill and shares the same CUSIP number. For example, the 26-week bill issued on March 22, 2007, and maturing on September 20, 2007, has the same CUSIP number (912795A27) as the 13-week bill issued on June 21, 2007, and maturing on September 20, 2007, and as the 4-week bill issued on August 23, 2007 that matures on September 20, 2007.

During periods when Treasury cash balances are particularly low, the Treasury may sell cash management bills (or CMBs). These are sold at a discount and by auction just like weekly Treasury bills. They differ in that they are irregular in amount, term (often less than 21 days), and day of the week for auction, issuance, and maturity. When CMBs mature on the same day as a regular weekly bill, usually Thursday, they are said to be on-cycle. The CMB is considered another reopening of the bill and has the same CUSIP. When CMBs mature on any other day, they are off-cycle and have a different CUSIP number.

Treasury bills are quoted for purchase and sale in the secondary market on an annualized discount percentage, or basis.

With the advent of TreasuryDirect, individuals can now purchase T-Bills online and have funds withdrawn from and deposited directly to their personal bank account and earn higher interest rates on their savings.

General calculation for the discount yield for Treasury bills is

\text{Discount Yield} (%) = \frac{\text{Face Value} - \text{Purchase Price}}{\text{Face Value}} \times \frac{\text{360}}{\text{Days Till Maturity}} \times 100[%]

 Treasury note

This is the modern usage of “Treasury Note” in the U.S., for the earlier meanings see Treasury Note (disambiguation).

Treasury notes (or T-Notes) mature in one to ten years. They have a coupon payment every six months, and are commonly issued with maturities dates between 1 to 10 years, with denominations of $1,000. In the basic transaction, one buys a “$1,000” T-Note for say, $950, collects interest over 10 years of say, 3% per year, which comes to $30 yearly, and at the end of the 10 years cashes it in for $1000. So, $950 over the course of 10 years becomes $1300.

T-Notes and T-Bonds are quoted on the secondary market at percentage of par in thirty-seconds of a point (n/32 of a point, where n = 1,2,3,…). Thus, for example, a quote of 95:07 on a note indicates that it is trading at a discount: $952.19 (i.e., 95 + 7/32%) for a $1,000 bond. (Several different notations may be used for bond price quotes. The example of 95 and 7/32 points may be written as 95:07, or 95-07, or 95’07, or decimalized as 95.21875.) Other notation includes a +, which indicates 1/64 points and a third digit may be specified to represent 1/256 points. Examples include 95:07+ which equates to (95 + 7/32 + 1/64) and 95:073 which equates to (95 + 7/32 + 3/256). Notation such as 95:073+ is unusual and not typically used.

The 10-year Treasury note has become the security most frequently quoted when discussing the performance of the U.S. government bond market and is used to convey the market’s take on longer-term macroeconomic expectations.

Treasury bond

“U.S. Bonds” redirects here. For the singer/performer, see Gary U.S. Bonds.

Treasury bonds (T-Bonds, or the long bond) have the longest maturity, from twenty years to thirty years. They have a coupon payment every six months like T-Notes, and are commonly issued with maturity of thirty years. The secondary market is highly liquid, so the yield on the most recent T-Bond offering was commonly used as a proxy for long-term interest rates in general.[citation needed] This role has largely been taken over by the 10-year note, as the size and frequency of long-term bond issues declined significantly in the 1990s and early 2000s.[citation needed]

The U.S. Federal government suspended issuing the well-known 30-year Treasury bonds (often called long-bonds) for a four and a half year period starting October 31, 2001 and concluding February 2006.[7] As the U.S. government used its budget surpluses to pay down the Federal debt in the late 1990s,[8] the 10-year Treasury note began to replace the 30-year Treasury bond as the general, most-followed metric of the U.S. bond market. However, because of demand from pension funds and large, long-term institutional investors, along with a need to diversify the Treasury’s liabilities – and also because the flatter yield curve meant that the opportunity cost of selling long-dated debt had dropped – the 30-year Treasury bond was re-introduced in February 2006 and is now issued quarterly.[9] This brought the U.S. in line with Japan and European governments issuing longer-dated maturities amid growing global demand from pension funds.[citation needed]

 TIPS

Treasury Inflation-Protected Securities (or TIPS) are the inflation-indexed bonds issued by the U.S. Treasury. The principal is adjusted to the Consumer Price Index (CPI), the commonly used measure of inflation. When the CPI rises, your principal adjusts upward. If the index falls, your principal adjusts downwards.[10] The coupon rate is constant, but generates a different amount of interest when multiplied by the inflation-adjusted principal, thus protecting the holder against inflation. TIPS are currently offered in 5-year, 10-year and 30-year maturities.[11]

Federal Reserve holdings of U.S. Treasuries

For the Quantitative easing policy the Feds holding of US treasuries increased from $750 billion in 2007 to over $1.5 trillion by June 2011. Source Federal Reserve Bank of Cleveland. [12]   …”

http://en.wikipedia.org/wiki/United_States_Treasury_security

 

Understanding the Financial Crisis – very well explanation!

 

Deconstructing the Subprime Crisis

Jeremy Siegel on the Resilience of American Finance

Franklin Allen on Lessons from the Subprime Crisis

Understanding The Debt Crisis In The U.S.

 

 

CNN: Understanding the Crisis

 

Understanding the Financial Crisis

 

Stein Says Economy to Accelerate; U.S. Downgrade Likely

 

Related Posts On Pronk Palisades

Weak Obama Recovery Ends–Great Obama Recession Economy Or GORE Starts–Labor Participation Rate in July 2011 Hits 27 Year Low of 63.9%–Over 130,000 Workers Leave Workforce In July 2011–No Jobs!–Videos

 

 

 

 

 

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The French Connection–Chicago Corruption Cesspool–Climate Change–Big Al and BO–Gore Obama–The GO Team!

Posted on December 10, 2008. Filed under: Art, Blogroll, Climate, Cult, Economics, Energy, Law, People, Politics, Quotations, Rants, Raves, Resources, Science, Talk Radio, Taxes, Technology, Video | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Governor Rod Blagojevich and President-elect Barack Obama

 

Governor Rod Blagojevich Was Arrested On Corruption Charges | Rezko – Obama Connection?

 

obama’s Chicago- Rod Blagojevich Invites People To Record Him

 

Exposing Blagojevich

 

Obama’s Chicago- Reports On The Arrest Charges Against Rod Blagojevich

 

Obama talks- Gov Blagojevich Political Scandal Dec 9th 2008

 

Axelrod says Obama talked with Blagojevich about who he wants to replace him

 

Obama speaks on Illinois Governor and Climate-Change 10 Dec 08

Connecting the Dots in the Corrupted Chicago Politics–Blagojevich, Rezko, Obama, Emanuel, Axelrod

 

Al Capone – The Untouchables

 

The Chicago Way

 

The french connection (1971) car chase

 

The climate in Chicago and Illinois politics just got very hot for the Chicago professional criminal class–Democratic politicians.

Instead of using the royal we, President-elect Barack Obama was quick to use the word I:

“I had no contact with the governor or his office, and so we were not — I was not aware of what was happening,”

So, who in the Obama family contacted Governor Blagojevich to make known BO’s pick to fill the Senate seat.

BO apparently wanted Valerie Jarrett and not Jessee Jackson Jr. to fill the Senate seat he resigned from recently.

Why did she suddenly backoff given the support of President-elect Barrack Obama?

Did she report back to Obama that the Governor was looking for some form of payoff for the appointment or “pay to play”?

If she did, then did President-elect report this to the FBI or US Attorney in Chicago?

 

Obama’s “Other Half”

 

Transition Update: Valerie Jarrett on Ethics Reform

 

Valerie Jarrett Obama’s secret campaign weapon

 

Valerie Jarrett’s Thoughts on Barack Obama

 

Looks like it is Jesse Jackson Jr. might be the French Connection and he is running scared.

 

Jesse Jackson Jr.’s Press Conference

 

Jesse Jackson Jr. Denies Offering Payment for U.S. Senate Seat

 

Jesse Jackson Jr on Cnn’s Larry King Live

Jackson is protesting too much.

The reporter should have asked Jackson when he said he was not a target of the investigation, whether he was a subject of the investigation?

I suspect he is a subject of the investigation and might be a future target if the scope of the investigation is expanded.

Did he speak with the Governor on a telephone in the same four years that he did not meet with him?

Observe that President-elect Obama was not as emphatic or forthcoming as Congressman Jackson as to what his “family”  or staff said to Governor Blagojevich.

Both Barack Obama and Jessee Jackson Jr. did not take any questions at their press conferences.  

Instead of being outraged and offended by the Governor’s behavior, Obama was “saddened” and “sobered”.

Who is the French Connection or the Obama family “we”  that was in contact with Governor Blagojevich regarding the Senator apppointment?

Were their conservations also captured on tape?

Were crimes committed?

Was someone setup?

Who flipped on the Governor and wore the wire?

Did Rezko give up someone close to the Governor who in turn gave them the Governor by wearing a wire? 

The timing of the announcement of the arrest is also suspect.

If there were crimes committed before the election, why were arrests not made then?

Why shut down the investigation and not let it run to see who pays for being appointed Senator?

Who is protecting who?

The irony and arrogance  of the Gore Obama press conference is President-elect Barack Obama aids and abetts the tax and investment fraud of man-made global warming requires a new cap and trade tax to save the planet –the biggest rip-off of the American people in a century!

Obama Carbon Tax Will Destroy Economy, Based on Hoax

 

Shikha Dalmia on Cap and Trade

 

Cost of Cap & Trade


 

The climate of earth has been changing since the formation of the planet.

Man-made climate change caused by carbon dioxide emission from the burning of fossil fuels such as coal and gasoline is a rounding error or immaterial in changing the climate of planet earth.

The junk science of climate computer models is being wrongly used to justify the biggest tax increase in US history, namely the cap and trade tax.

The professsional criminal class is trying to rip off the American people by increasing taxes on energy use and justifying it in terms of  “saving the planet”.

Neither the American people nor reputable scientists are buying man-made global warming.

The climate of the planet has turned cool to cold as solar activity declines and temperatures fall.

Note the change in wording from man-made global warming to man-made climate change.

The sun or variation in solar activity  is the primary driver of climate change! 

Unstoppable Solar Cycles

 

This video sets aside doomsday alarmism and political axe-grinding to look at the science behind the history of climate change on earth. An examination of early Viking colonies on Greenland, wiped out by a period of global cooling, enables scientists to draw important conclusions about our current phase in the climate cycle. What we learn in this program is that earth’s climate is always changing – from The Middle Ages and the “Little Ice Age” to the modern warming that has been going on since 1850 (well before human-generated CO2 began increasing in our atmosphere).

Dr. Willie Soon, an Astrophysicist from the Harvard-Smithsonian Center for Astrophysics and Dr. David Legates, a Climatologist from the Center from Climate Research at the University of Delaware provide an easy-to-follow review of current climate science, which suggests that the sun’s irregular patterns and other natural forces are the major sources of climate change.

 

Climate Change – Bob Carters 5 Tests of CO2 part 1

Professor Bob Carter makes an examination of whether Climate change is due to CO2 emissions with 5 straight forward tests
a must see video

 

Climate Change – Bob Carters 5 Tests of CO2 part 2

Professor Bob Carter makes an examination of whether Climate change is due to CO2 emissions with 5 straight forward tests
a must see video

 

Apparently the sun is not cooperating with the crime of the century.

Rumor has it that a new energy and climate change czarina will be appointed soon, namerly Carol M. Browner, an Al Gore global warming fanatic and his former Legislative Director.

 Carol M. Browner

“…Browner also has taken action against one of the nation’s most serious threats: global warming. She believes the country, working together, can address this problem in ways that grow our economy and improve our competitiveness. For example, under her leadership, EPA has built partnerships with thousands of businesses and organizations to use energy more efficiently. Just in 1997, these partnerships prevented the release of nearly 60 million tons of carbon dioxide, the primary contributor to global warming. At the same time, these measures saved businesses and consumers more than $1 billion. …”

http://www.epa.gov/history/admin/agency/browner.htm

She will responsible for coordinating  energy, climate and environmental issues and initiatives.

She appears to be just another lawyer that does not understand either economics or science but knows how to wreck the US economy and destroy jobs by advocating the carbon cap and trade tax.

 

Browner and Greener
Needless to say, the nation’s energy crisis is no longer Barack Obama’s top priority.By Max Schulz“…Browner served eight ferocious years as Bill Clinton’s

EPA chief, after having been Senator Al Gore’s legislative director. At EPA, she worked hand-in-glove with the nation’s politically minded environmental organizations (and now, handily enough, sits on the boards of several of them), and became known for favoring a heavy-handed regulatory agenda. Browner was the driving force behind the federal government’s effort to force GE to spend $490 million to dredge New York’s Hudson River to rid it of PCBs that — because they were buried under layers of silt — posed no environmental harm.

Browner’s push for overly stringent clean-air regulations drew cries of alarm from across the political spectrum. Chicago’s Democratic Mayor Richard Daley, for instance, warned that Browner’s regs would quash economic development in inner cities. Fortunately, many of the Browner EPA’s more aggressive actions were reversed in the legislature or through the courts — in fact, some of her employees wound up facing criminal charges for falsifying evidence and manipulating lab results. Far-left environmentalists are more likely to be cheered than troubled by that fact, of course.

What is generally missing from the Obama green team is a recognition of the critical need to increase the supplies of energy that power our economy. It’s one thing to pine for a day when everything runs on clean, green energy; it’s quite another to bravely acknowledge that fossil fuels like oil, natural gas, and coal (along with nuclear power) do the heavy lifting in our energy economy, and will continue to do so for years to come. Energy issues gathered steam over the summer because consumers were fed up with skyrocketing prices. When the economy picks back up, and demand for oil with it, prices will likely soar once more. Nothing in Obama’s impending selections suggests a desire to address those fundamental supply questions. …”

http://article.nationalreview.com/?q=NWQyZWEzOWQ3MTRhOTYxMzZjNDlkYTg5NzdhODRmOWM

 

Carol Browner – Embrace a Cap-and-Trade Requirement


 

 

Inside the Transition: Energy & Environment Policy Team

 

Carol Browner on Climate Matters Act

Energy & Environment, – America’s Role in the World

 

Browner likes to equate carbon dioxide emissions with sulfur dioxide emissions when advocating a cap and trade tax.

The problem is carbon dioxide is not a pollutant and sulfur dioxide is a pollutant.

Nor does carbon dioxide cause global warming or climate change.

The level of carbon dioxide in the atmosphere is a lagging result of climate change not the cause of climate change.

She will be a shill for proposing the largest tax increase in US history and say she is recommending this to “save the planet”.

 

George Carlin – Saving the Planet

 

The majority of the American people are not buying this junk science rubbish from the so called American elites.

20/20 Stossel- GMAB – Al Gore Global Warming Debate

 

Carbon Dioxide is Our Friend

 

Global Warming – Carbon Dioxide

 

The arrest of Governor Blagojevich for the crime of solicitation of bribery is chump change, a triffling sum of money.

Compare this  crime to both former Vice-President Gore’s and President-elect Obama’s continuing efforts to rip off the American people and wreck the American economy by imposing a cap and trade tax to “save the planet” from climate change.

Give me a break! 

The world is not running out of oil, just cheap oil.

ABC News : 20/20 : Myth : Is Oil Truly…

 

Build 500 nuclear plants over the next twenty-five years to produce over 95% of the United States’ electrical power requirements.

Gradually transition to electrical powered  vehicles as the nuclear power plants come on line and technology and innovation make electrical vehicles affordable.

This would lead to real energy independence for the United States of America.

Go nuclear! 

 

Background Articles and Videos

 

Obama reacts to Illinois governor’s arrest

 

 

Chicago Mob, JFK, & Cuba

 

Dirty Barack Obama

 

Obama and Rezko

 

Barack Obama – Tony Rezko Convicted – Political Fixer

 

Man vs. Mob

 

How to win an election (by Rep. Jesse Jackson Jr.)

 

 

Crooked Carol Browner: Obama’s ethically-challenged energy czar

By Michelle Malkin

“…On her last day in office, nearly eight years ago, Browner oversaw the destruction of agency computer files in brazen violation of a federal judge’s order requiring the agency to preserve its records. This from a public official who bragged about her tenure: “One of the things I’m the proudest of at EPA is the work we’ve done to expand the public’s right to know.”

Asked to explain her track-covering actions, the savvy career lawyer Browner played dumb. Figuratively batting her eyelashes, she claimed she had no clue about a court injunction signed by U.S. District Judge Royce Lamberth on the same day she commanded an underling to wipe her hard drives clean. Golly gee willikers, how could that have slipped by her? …”  

“…Is this a gamble the Obama administration wants to take? Browner has crossed the line and violated public trust before in her capacity as eco-chief. Early in her first term as EPA head, Browner got caught by a congressional subcommittee using taxpayer funds to create and send out illegal lobbying material to over 100 grassroots environmental lobbying organizations. Browner exploited her office to orchestrate a political campaign by left-wing groups, who turned around and attacked Republican lawmakers for supporting regulatory reform. These are the very same groups – anti-business, anti-sound science, pro-eco-hysteria – that Browner would be working arm in arm with as Obama’s “energy czar.”

This is regression we can’t afford. …”

http://michellemalkin.com/2008/12/12/crooked-carol-browner-obamas-ethically-challenged-energy-czar/

Breaking: Obama calls for Blago’s resignation

 by Ed Morrissey

“…Well, well, well.  It didn’t take long for Barack Obama to throw his former political ally Rod Blagojevich under the bus.  Obama spokesman Robert Gibbs announced just a few minutes ago that Obama wants Blagojevich to resign as governor of Illinois:

President-elect Barack Obama is calling for Illinois Gov. Rod Blagojevich to resign. Obama spokesman Robert Gibbs says the president-elect agrees with other prominent politicians that “under the current circumstances, it is difficult for the governor to effectively do his job and serve the people of Illinois.”

Blagojevich was arrested Tuesday, accused of scheming to enrich himself by selling Obama’s vacant Senate seat. The governor has authority to appoint the replacement. He denies any wrongdoing.

Obama had tried to avoid commenting on Blagojevich’s options yesterday, preferring to remain aloof and let the process work itself out.  Within 24 hours, Obama apparently changed his mind.  Why?  Perhaps David Axelrod’s remarks from last month unnerved the President-elect, and he decided that he had to get significant distance from Blagojevich. …”

http://hotair.com/archives/2008/12/10/breaking-obama-calls-for-blagos-resignation/

FULL CHARGES AGAINST ILLINOIS GOVERNOR ROD R. BLAGOJEVICH AND HIS CHIEF OF STAFF JOHN HARRIS ARRESTED ON FEDERAL CORRUPTION AT A STAGGERING LEVEL

“Illinois Gov. Rod R. Blagojevich and his Chief of Staff, John Harris, were arrested today by FBI agents on federal corruption charges alleging that they and others are engaging in ongoing criminal activity: conspiring to obtain personal financial benefits for Blagojevich by leveraging his sole authority to appoint a United States Senator; threatening to withhold substantial state assistance to the Tribune Company in connection with the sale of Wrigley Field to induce the firing of Chicago Tribune editorial board members sharply critical of Blagojevich; and to obtain campaign contributions in exchange for official actions – both historically and now in a push before a new state ethics law takes effect January 1, 2009.

Blagojevich, 51, and Harris, 46, both of Chicago, were each charged with conspiracy to commit mail and wire fraud and solicitation of bribery. They were charged in a two-count criminal complaint that was sworn out on Sunday and unsealed today following their arrests, which occurred without incident, announced Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, and Robert D. Grant, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation. Both men were expected to appear later today before U.S. Magistrate Judge Nan Nolan in U.S. District Court in Chicago.

A 76-page FBI affidavit alleges that Blagojevich was intercepted on court-authorized wiretaps during the last month conspiring to sell or trade Illinois’ U.S. Senate seat vacated by President-elect Barack Obama for financial and other personal benefits for himself and his wife. At various times, in exchange for the Senate appointment, Blagojevich discussed obtaining:

  • A substantial salary for himself at a either a non-profit foundation or an organization affiliated with labor unions;
  • Placing his wife on paid corporate boards where he speculated she might garner as much as $150,000 a year;
  • Promises of campaign funds – including cash up front …”

http://www.thechicagosyndicate.com/2008/12/full-charges-against-illinois-governor.html

 

Boomerang: The Democrat culture of corruption

By Michelle Malkin

“My syndicated column today looks at how the Democrat “culture of corruption” boomerang has returned to smack the donkeys right back in the face.

Snort-worthy: Guess what big national event is taking place in Chicago this week? The 30th annual COGEL (Council on Governmental Ethics Laws) Conference.

“…U.S. Attorney Patrick Fitzgerald called the breadth and depth of charges against Blagojevich and his Democratic Chief of Staff John Harris “staggering.” That’s an understatement. Anything that breathed was a potential shakedown target. It’s the Chicago way. Democrat Blago’s so dirty he’d hit up a children’s hospital for money. Oh, wait. He’s accused of doing that, too.

Democrat Blago allegedly conspired to use his power to appoint President-elect Barack Obama’s vacant Senate seat as a bargaining chip for financial payment. He explored trading on that authority for an appointment as Health and Human Services secretary or as an ambassador or for installment in a cushy union position. (He discussed his trading scheme with an unnamed “SEIU (Service Employees International Union) official” and unnamed “various consultants” in Washington.)

According to the criminal complaint released yesterday, he also tried to leverage his influence over the sale of Wrigley Field (owned by Tribune media company) in an attempt to get Chicago Tribune editorial writers who called for his impeachment fired — which illustrates the very perils of media/government entanglements I warned about in my newspaper bailout column last week. His wife, Patricia Blagojevich, was apparently in on the thuggery, too. Taking a break from her first lady duties advocating “on behalf of women and children,” she is heard in taped discussions about the Chicago Tribune/Wrigley Field deal telling a governor’s aide “to hold up that f**king Cubs sh*t. … F**k them.” …”

http://michellemalkin.com/2008/12/10/boomerang-the-democrat-culture-of-corruption/

 

Governor Accused in Scheme to Sell Obama’s Senate Seat

“…Mr. Obama, who Mr. Fitzgerald said was not implicated in the case, sought to put distance between himself and the governor during brief remarks on Tuesday afternoon and later in an interview with The Chicago Tribune, saying he did not discuss his Senate seat with Mr. Blagojevich.

“I had no contact with the governor or his office, and so we were not — I was not aware of what was happening,” Mr. Obama said. “And as I said, it’s a sad day for Illinois. Beyond that, I don’t think it’s appropriate to comment.”

Throughout his career, Mr. Obama has adroitly straddled the state’s bruising politics, forming alliances with some old-style politicians even as he pressed for ethics reform. But Mr. Obama had long been estranged from the governor, even though some in his political circle have had relationships with both of them, including Rahm Emanuel, his chief of staff, and Emil Jones Jr., the retiring State Senate president and a longtime mentor.

The federal accusations against Mr. Blagojevich go beyond the Senate question into what the authorities here described as a “political corruption crime spree.”

http://www.nytimes.com/2008/12/10/us/politics/10Illinois.html?_r=1

 

The Blagojevich Case: Why Did Fitzgerald Act Now?
A corruption investigation stopped short.

By Byron York 

“There are a lot of questions stemming from the criminal complaint detailing Illinois Gov. Rod Blagojevich’s alleged efforts to sell the Senate seat vacated by President-Elect Barack Obama. Who are the various advisers and potential candidates named in the 76-page complaint? What, if any, contacts did Blagojevich or his emissaries have with representatives of the Obama transition? And did Obama ever speak to Blagojevich about the issue? (Obama says he didn’t, and top adviser David Axelrod now says he was “mistaken” when he said the two men had, in fact, talked.)

But of all those questions, perhaps the most intriguing is why prosecutor Patrick Fitzgerald, whose office had been gathering astonishing evidence implicating Blagojevich and others, went public Tuesday with the criminal complaint and arrest of Blagojevich. Why not let the investigation go on, at least for a bit longer? At his news conference, Fitzgerald attributed his action to Blagojevich’s allegedly corrupt dealings involving a Chicago hospital, and corrupt dealings toward the Tribune company, and then added, “You take that, and what’s going on, and add it to the fact that we have a Senate seat that seemed to be as recently as days ago auctioned off to the highest bidder for campaign contributions and Gov. Blagojevich’s own words on the tape, on the bug, that set forth in the complaint talked about selling this like a sports agent. So we stepped in for a number of reasons.”

Later in his news conference, however, Fitzgerald suggested that the alleged Senate deal had come to drive the investigation — “When there’s a bunch of people scheming in private, and they think no one’s listening and no one’s aware of it, they can do a heck of a lot more than when someone goes and basically raids the crime in plot and airs what’s going on,” he said. And a reading of the criminal complaint suggests that events in the alleged Senate selloff might have been what tipped prosecutors toward action. As the investigation moved toward what appeared to be a climax, with perhaps a deal to be made for a Senate seat, a media report scared Blagojevich, who up to that point had displayed astonishingly brazen behavior. Blagojevich stopped the Senate-selling negotiations and began planning a legal defense — and Fitzgerald, his target now on the alert, went public a short time later. …”

http://article.nationalreview.com/?q=NzhiYmFlMDZiNzkxYmZlMThmMTZjNDJlYzYwM2ZhNjY

 

Illinois Governor arrested for attempted sale of Obama’s Senate seat

Thomas Lifson

“…The political cesspool which gave birth to Barack Obama’s political career has served up yet another scandal , this time involving the alleged attempted sale of the Senate seat President-elect Obama will soon vacate. The Chicago Tribune reports:

Gov. Rod Blagojevich and his chief of staff, John Harris, were arrested by FBI agents on federal corruption charges Tuesday morning.

Blagojevich and Harris were arrested simultaneously at their homes at about 6:15 a.m., according to Frank Bochte of the FBI. Both were awakened in their residences and transported to FBI headquarters in Chicago.

In one charge related to the appointment of a senator to replace Barack Obama, prosecutors allege that Blagojevich sought appointment for himseld as Secretary of Health and Human Services in the new Obama administration, or a lucrative job with a union, in exchange for appointing a union-preferred candidate.

Another charge alleges Blagojevich and Harris conspired to demand the firing of Chicago Tribune editorial board members responsible for editorials critical of him in exchange for state help with the sale of Wrigley Field, the Chicago Cubs baseball stadium owned by Tribune Co.

Details of the complaint against the two men here. …” 

http://www.americanthinker.com/blog/2008/12/illinois_governor_arrested_for.html  

 

Barack Obama & Chicago mob: next on Patrick Fitzgerald’s agenda?

“…Michael Sneed dropped a juicy hint in yesterday’s Chicago Sun Times.  To wit:

Sneed hears rumbles political fund-raiser/fixer Tony Rezko, who is now singing sweetly to the feds from his cell at the Metropolitan Correctional Center, has been talking about his “dealings” with a Chicago bank, which has political connections.

A Chicago bank with “political connections”?  Hillbuzz makes the case that it’s Broadway Bank, formerly run by youngster Illinois State Treasurer and Obama banker Alexi Giannoulias who . . .

1. financed Chicago mobster Michael “Jaws” Giorango;

2. reportedly served as banker for Obama’s 2004 Illinois Senate campaign and made a subprime loan in 1996 to Barack Obama for the purchase of a Chicago townhouse; and

3. surprisingly, bumped Rep. Charlie Rangel out of the Dem Convention in July.

With such a cast of characters — including slumlord and key Obama adviser Valerie Jarrett — surrounding the current poll leader for the U.S. presidency, the White House, after four years, might just look like the dilapidated, federally subsidized Chicago tenements in this Boston Globe expose: …”

http://iperceive.net/barack-obama-chicago-mob-next-on-patrick-fitzgeralds-agenda/

 

Chicago Democrats and The Chicago Mob

 By Steve Bartin

“…Chicago has had a Democratic Mayor since 1931,and today in 2008, 49 of 50 Chicago Aldermen are Democrats.This long post is about the Chicago Mob and the Democratic Party machine.
Former Alderman Dick Simpson, who’s now a professor at University of Illinois-Chicago, has some disturbing numbers on Chicago and Illinois politicians:

Since 1973, the U.S. attorney has indicted 30 aldermen and convicted 27 (one died before trial and two stand trial this spring).The Public Corruption and Accountability Project at UIC calculates that there have been more than 1,000 local and state governmental officials convicted since the 1970s. The “corruption tax,” or cost of government corruption for Cook County residents, is now more than $300 million a year, greater than the local government tax increases this year. We can’t really afford more local “Hired Truck” schemes, patronage hiring, or the state pension and driver license scandals of recent years.

Sounds like becoming an elected Alderman in Chicago has an unusual felony conviction rate,which certainly says something about the people who seek elected office in Chicago and the voters who put them in office.Yes,there have been many corrupt Aldermen in Chicago.But,one man stands above all other in terms of institutionalizing corruption in Chicago: Alderman Fred Roti.

Unless we understand the prolific criminal legacy of Alderman Roti,we can’t understand how today,in 2008,Alderman Roti along with his friends,relatives,and associates have turned Chicago’s city government into a racketeering enterprise.We must go back in time to a Chicago Tribune article on February 14,1982 titled BEST AND BRIGHTEST NO MATCH FOR OLD GUARD AT CITY HALL to understand the power of Alderman Roti:

Roti has placed nearly as many city employees on the payroll as the city personnel department,and many of them are his own family members.This is not a new trend under [Mayor] Byrne,however.Under former Mayors Richard Daley and Michael Bilandic,members of the Roti clan have always had spectacular success gaining public employment.Last fall it was disclosed that Roti family payrollers include his daughter,Rosemary,a press aide to Mayor Byrne at $25,992 a year;and Rosemary’s husband,Ronald Marasso,who had been promoted from city painter to $34,000 -a -year general manager of maintenance at O’Hare International Airport.Fourteen other Roti clan members were on various other city payrolls.Because of his ward number,Roti’s name is always called first during council roll calls,and he revels in that privilege.His initial response gives other administration alderman their cue as to what Roti-and,therefore,the mayor-wants.It’s often said that roll calls could stop after Roti votes-the outcome is already known.Roti,an affable fellow, controls the Chicago City Council with an iron fist.

Years later in May of 2006, The Chicago Sun-Times gave a more disturbing explanation of who Alderman Fred Roti really was:

Roti became 1st Ward alderman in 1968. He soon became one of the most powerful, well-liked and respected members of the City Council. Roti was also a “made member” of the mob, according to the FBI …” 

http://nalert.blogspot.com/2008/03/chicago-democrats-and-chicago-mob.html

 

When Corruption Was King

“…By the second half of the twentieth century, Chicago’s Mafia, known as The Outfit, was the most powerful Mob in the history of organized crime. While Mafia families warred among themselves on the East Coast, in Chicago they united into one monolithic force, not only controlling all major criminal activity in the city, but eventually, everything west of the Mississippi. They skimmed cash from casinos in Las Vegas and looted pension funds from two national unions, the Teamsters and the Laborers. The key to the Mob’s power in Chicago was their unprecedented ability to corrupt the city’s political and judicial leadership. Crooked judges threw out cases against Hit Men. Mobsters and Mob associates took top jobs in city government, including, at one point, Chief of Detectives for the Chicago Police Department. …”

http://www.whencorruptionwasking.com/chicago.html

 

What Happens to Chicago’s Top Mob and Corruption Fighter After the Presidential Election?

“…Despite the national media’s childlike fantasy that Illinois is something like Camelot—where the knights rise to power without staining their shining armor—we’re still neck deep in corruption and sleazy pay-to-play politics.

The Chicago Outfit, though wounded, still reaches out to friendly pols. The bipartisan Illinois Combine that runs things isn’t finished, though a Republican boss was indicted last week. The Democratic half of the Combine, Chicago’s Daley machine, is now poised to leverage the awesome power of the White House. And what the machine wants is control of the federal hammer in its backyard.

Readers keep asking me the same question: Will the next president keep Patrick Fitzgerald as the U.S. attorney in Chicago?

I really can’t say. What are political promises worth from politicians with debts to pay? But here’s what I do know. There is no story more important to the people of Chicago and of Illinois than the future of Fitzgerald, who has systematically hunted down the corruption.

Corruption the Chicago Way doesn’t only waste money and burden taxpayers. This isn’t only about isolated instances of graft and amusing, earthy rapscallions. That is a cartoon. The reality is that Illinois political corruption is an infection that spreads. The people either are numbed and deny it, or they feel pressured to suck up to their overlords. That’s not American. That’s positively Medieval.

That’s how important this is. Both John McCain and Barack Obama have promised to keep Fitzgerald here.

“If we lose him, we lose everything,” said a Chicago FBI agent wise in the ways of Chicago politics and its symbiosis with the Chicago mob. “I can’t imagine it happening. He’s the guy who pulls the trigger on all these investigations. If it happens, if they get rid of him, forget it.” …”

 

“…Another Chicago connection, U.S. Rep. Rahm Emanuel (D-Tomczak), is being rumored as a possible White House chief of staff. Emanuel would also look first to protect the mayor. Washington Beltway reporters won’t tell you this, because they must figure that what happens in Chicago stays in Chicago, but a few years ago, Emanuel was elected with the help of a massive patronage army of stooges on the City Hall payroll who pounded the precincts.

The fellow who directed this army for Emanuel is the corrupt former city water boss Donald Tomczak. He now sits in federal prison in Duluth, Minn., while Emanuel prepares to reform us all. It was Fitzgerald’s office that put Tomczak away.

Back in March, Obama visited the Tribune’s editorial board. He said that if elected president, he would keep Fitzgerald in place. …”

http://www.thechicagosyndicate.com/2008/11/what-happens-to-chicagos-top-mob-and.html

 

Web of Influence

 

“…The United States attorney’s office in Chicago accused Gov. Rod R. Blagojevich of having numerous schemes for profiting from his office. The affidavit contains details of a five-year investigation into public corruption and accusations of “pay to play” deals. This chart shows some of Mr. Blagojevich’s interactions with advisers, fund-raisers and other individuals, both named and unnamed. …”

http://www.nytimes.com/interactive/2008/12/09/us/20081209_corruption.html  

 

Will Chicago’s Mob History and Clout Mentality Follow Obama to the White House?

“The city of Chicago is one of the few major metropolitan areas that runs away from its past at every opportunity. Yet, indeed, the very construction of the city led to the term “underworld.” And with rampant corruption controlled by infamous individuals like “Big Jim” Colosimo, Al Capone, Paul “The Waiter” Ricca, Murray “The Camel” Humphrey and Tony “Joe Batters” Accardo, Chicago can hardly bury its past — no pun intended.

Since the turn of the 20th century, what Carl Sandburg referred to as the “City of Big Shoulders” was perhaps the center of organized crime in the United States. Though New York had its Syndicate and Detroit had the Purple Gang, many believe true power in America’s underworld was concentrated in something called the Outfit.

With the election of Barack Obama will come a great deal of history-laden baggage, which will make the movie “The Godfather” seem like a Walt Disney cartoon.

From David Axelrod, who was nurtured on the Daley Machine, to the political organizing, which Barack Obama so proudly claims a lineage, Chicago’s brand of one Party politics may be a model for the Obama administration in Washington, D.C.

It is no mistake the president-elect joined Rev. Jeremiah Wright’s South Side Chicago church. Obama wanted to learn the ropes of power politics and how it was played in the Windy City. There were no better teachers than Mayor Daley and his cadre of obliging aldermen who responded to the cracking of the political whip. A failure to do so would quickly leave them on the outside looking in — without protection from the media, the law and any other threat which loomed on the horizon. …”

http://www.thechicagosyndicate.com/2008/12/will-chicagos-mob-history-and-clout.html

 

Global Warming: How Hot Air and Bad Science Will Give You Staggeringly Higher Taxes and Prices

 

Cap-and-trade like Soviet-style central planning

 

Letterman – Politics – fun with palin, obama, blagojevich, the bailouts, bill clinton – 12-09-2008

 

 

Carol Browner

Carol M. Browner (born December 16, 1955) served as Administrator of the Environmental Protection Agency during the Clinton Administration in the United States and President-Elect Obama’s future Energy Czar. She is the longest-serving administrator in the history of the agency, staying through both terms of the Clinton presidency. …”

“…Browner received her undergraduate degree and law degree from the University of Florida in 1977 and 1979. In the early stage of her career, she worked for Citizen Action as its associate director and served as general counsel to the Florida House Committee on Government Operations.

Between 1986 and 1991, she served as a key aide to Senator Lawton Chiles and then-Senator Al Gore. Browner headed the Florida Department of Environmental Protection from 1991 to 1993.[1] “ 

http://en.wikipedia.org/wiki/Carol_Browner

 

Carol Browner Set to Be Obama’s Energy Coordinator (Update1)

“…President-elect Barack Obama is in the final stages of putting together his energy team, with former Environmental Protection Agency chief Carol Browner as his likely pick for a newly created position overseeing energy, climate and environmental issues, Democratic aides said. …”

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1T31BGhDxT8&refer=home

 

Nuclear power in France

“In France, as of 2002[update], Électricité de France (EDF) — the country’s main electricity generation and distribution company — manages the country’s 59 nuclear power plants. As of 2008[update], these plants produce 87.5% of both EDF’s and France’s electrical power production (of which much is exported),[1] making EDF the world leader in production of nuclear power by percentage. In 2004, 425.8 TWh out of the country’s total production of 540.6 TWh was from nuclear power (78.8%).[1]

France is the world’s largest net exporter of electric power, exporting 18% of its total production (about 100 TWh) to Italy, the Netherlands, Britain, and Germany, and its electricity cost is among the lowest in Europe.[1][2]

In 2006, the French Government asked Areva and EDF to build a next generation nuclear reactor, the EPR (European Pressurized Reactor), at the Flamanville Nuclear Power Plant. This was followed in 2008 by an Presidential announcement of another new EPR, spurred by high oil and gas prices.[3] A site for that unit should be selected in 2009, and construction should start in 2011. …”

http://en.wikipedia.org/wiki/Nuclear_power_in_France

 

Nuclear power in the United States

“…As of 2007 in the United States, there are 104 (69 pressurized water reactors and 35 boiling water reactors) commercial nuclear generating units licensed to operate, producing a total of 97,400 megawatts (electric), which is approximately 20% of the nation’s total electric energy consumption. The United States is the world’s largest supplier of commercial nuclear power. …”

“…In recent years, there has been a renewed interest in nuclear power in the US. This has been facilitated in part by the federal government with the Nuclear Power 2010 Program, which coordinates efforts for building new nuclear power plants,[3] and the Energy Policy Act which makes provisions for nuclear and oil industries.[4][5]

As of April 2008, the NRC is expecting 23 COL applications for a total of 34 new plants.[6]

As of 2005[update], no nuclear plant had been ordered without subsequent cancellation for over twenty years. However, on September 22, 2005 it was announced that two sites had been selected to receive new power reactors (exclusive of the new power reactor scheduled for Idaho National Laboratory) and two other utilities have plans for new reactors.[7] There has also been an application for an early site permit at Exelon’s Clinton Nuclear in Clinton, Illinois to install another reactor as well as a reactor restart at the Tennessee Valley Authority Browns Ferry nuclear station.[8]

On September 25, 2007, South Texas Project filed the application for a Combined Construction and Operating License (COL). Two new GE-Hitachi ABWRs will be built adjacent to the existing PWRs.[9] This is the first application for a new nuclear plant in the US for nearly 30 years.[citation needed] This was followed in October, 2007 by TVA and NuStart filing for a COL for two Westinghouse AP1000s to be built at Bellefonte in Hollywood, Alabama.[10]

In April 2008 Southern Company signed an engineering and procurement contract with Westinghouse and Shaw Group for two AP1000s to be built at Vogtle in Georgia.[11] This is the first construction contract for a new nuclear power plant in the US to be signed since 1978.

However, MidAmerican Energy Company decided to “end its pursuit of a nuclear power plant in Payette County, Idaho.”[12] MidAmerican cited cost as the primary factor in their decision.

On August 26, 2008, it was reported that The Shaw Group and Westinghouse would construct a factory at the Port of Lake Charles at Lake Charles, Louisiana to build components for the Westinghouse AP1000 nuclear reactor. [13]

On October 23, 2008, it was reported that Northrop Grumman and Areva were planning to construct a factory in Newport News, Virginia to build nuclear reactors.[14]

 

Feb 2005 opinion poll regarding nuclear power in the USA.
Blue represents people in favor of nuclear power
Gray represents undecided
Yellow represents opposed to nuclear power

http://en.wikipedia.org/wiki/Nuclear_power_in_the_United_States

 

Electric Cars, Nuclear Power Seen as Top Non-Drilling Alternatives to Foreign Oil

“…With energy policy at the center of the current presidential campaign, voters believe electric or hybrid cars and nuclear power plants are more likely than solar or wind power to significantly reduce America’s dependence on foreign oil. Biofuels such as ethanol are seen as even less likely to help.

Still, the latest Rasmussen Reports national telephone survey finds that just 37% believe electric or hybrid cars are Very Likely to have such a positive impact. Thirty-two percent (32%) say the same about nuclear power; 25% are that optimistic about solar power, and 22% say wind power can accomplish the goal.

While none of these alternative energy sources are seen as overwhelmingly likely to reduce dependence on foreign oil, roughly two-thirds or more say each is at least somewhat likely to reduce U.S. reliance on oil from afar. …”

http://www.rasmussenreports.com/public_content/lifestyle/general_lifestyle/electric_cars_nuclear_power_seen_as_top_non_drilling_alternatives_to_foreign_oil

Electric vehicle

“An electric vehicle (EV) is a vehicle with one or more electric motors for propulsion. This is also referred to as an electric drive vehicle. The motion may be provided either by wheels or propellers driven by rotary motors, or in the case of tracked vehicles, by linear motors.

Unlike an internal combustion engine (ICE) that is tuned to specifically operate with a particular fuel such as gasoline or diesel, an electric drive vehicle needs electricity, which comes from sources such as batteries or a generator. This flexibility allows the drive train of the vehicle to remain the same, while the fuel source can be changed.

The energy used to propel the vehicle may be obtained from several sources, some of them more ecological than others:

It is also possible to have hybrid electric vehicles that derives energy from multiple sources. Such as:

Electric vehicles can include electric airplanes, electric boats, and electric motorcycles and scooters. …”

http://en.wikipedia.org/wiki/Electric_vehicle 

 

 

Who Killed The Electric Car?

 

The GM EV1

 

GM Unveils VOLT All-Electric Concept Car – Presented By The

 

Chevy Volt – Electric Car – Introduction

 

GM Volt and Toyota Prius on streets of Washington D. C.

GM Volt and Toyota Prius on streets of Washington D. C.

 

LOL

Penn & Teller Bullshit Nukes, Hybrids and Lesbians Part 1

 

Penn & Teller Bullshit Nukes, Hybrids and Lesbians Part 2

 

Penn & Teller Bullshit Nukes, Hybrids and Lesbians Part 3

 

 

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