The Golden Truth: Another Obama Spending Idea Fails

Wednesday, August 31, 2011

Another Obama Spending Idea Fails - Badly

And the Taxpayers get to take on the financial burden. Or at least the Taxpayers who have children and grandchildren get to let those poor souls pay for Obama's massively failed spending agenda. First it was the healthcare legislation, which has made healthcare a LOT more expensive for all other than for those who qualify for free emergency room care because they can't afford healt insurance. Then it was the $800+ billion stimulus program, which succeded in putting a lot of low-IQ people to work who stand around in bright orange vests and watch while one or two of their nicely compensated/benefitted colleagues work on putting in new gutters and curbs along streets that don't need them. And now Obama's alternative energy program takes a big blow as Solyndra, a solar energy company that received over $500 million in taxpayer money, filed bankruptcy. Here's the LINK

What I would love to know is how much the upper management of Solyndra paid itself from the time it got Obama's Taxpayer largesse donation and until it went into the tank. Because what Obama's faithful see as Government programs designed to make the world a better place are nothing more than the massive transfer of public wealth into the pockets of the upper management at the private companies who get Government contracts and public union employees, without any offsetting economic benefit. In fact, the only things Obama's grand designs have done for those who pay for them - the Taxpayer - has been the devaluation of the dollar and the massive increase in public debt.

Thanks Barack! And I'm sure the enriched to CEO of Solyndra has thanked you with campaign donations.

On another note, in a move that is increasingly becoming a trend for China and its big trading partners, it looks like China is in the process using the China yuan instead of the dollar in its trade with African countries. Here's the news report: LINK Anyone who thinks the dollar can't collapse because it has the full faith and credit of the U.S. Government is blind to reality. Just look at the above report - why would anyone put "faith" in that Government?

2 comments:

AnonymousWednesday, 31 August, 2011
You nailed it, the beneficiary was an Obama campaign contribution bundler as reported by ABC news:

http://abcnews.go.com/Blotter/obama-administration-solyndra/story?id=13640783
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HalWednesday, 31 August, 2011
R U surprised? Are any of us surprised?
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.