Wednesday, September 14, 2011

Getting Uglier For El Hefe

A new poll conducted by Bloomberg shows that Obama's approval rating plummeted to a new low after his big prime-time rollout of his "I'm coming down from the Hill to save America" jobs/economic stimulation proposal last Thursday.  Opps - guess that idea backfired.

And now Solargate is heating up even more.  I see Fox News finally grabbed hold of this story - about 10 days after the fact.  But that should be good for roiling up the network's millions of slavish followers.  More interestingly, the Washington Post has uncovered some emails which further reinforce the allegation that heavy pressure was put on OMB to approve this loan:  LINK  These emails directly contradict initial rebuttal statements made by the Obama team in response to the allegations.  Ironically, the Bush administration nuked the Solyndra loan application shortly before El Hefe took over the White House...

In addition two Solyndra officials, including the CEO, had been scheduled to appear before a Congressional hearing today but postponed their appearance until next week without giving an explanation.  Smells to me like they want to see what other evidence of foul-play emerges so they can orchestrate their story with the Oval Office.  Maybe Obama will lend them his teleprompter...

Finally, I came across this little gem this morning - a news report in which the White House intends to crack down waste and fraud.  This one gave me a hearty laugh.  They are so anxious to do this that they are going to give 42 States $192 million to "streamline collection of unemployment claims data."  Huh?  Is this for real?  How about if Obama and his "peeps" hold up a mirror to themselves to look for waste and fraud.  The report says that Obama thinks he can save $2 billion over the next five years.  That is a complete joke considering that the Government borrows over $5 billion a day just cover the amount it spends on a daily basis.  Here's the LINK  What the hell is a proposed $2 billion - and that will likely never materialize - over 5 years going to accomplish?


  1. Face it the man ( Obama ) as well as his thieving corrupt organization filled with former Clinton thieves is a FAIL! of epic proportions.

    Why we are not in the midst of burning this sucker down puzzles me to say the least.

  2. Smoke and mirrors might work if the glass wasn't shattered....

    David Rosenberg: "It's Time To Start Calling This For What It Is: A Modern Day Depression"

    To wit: "If the Treasury market is correct in its implicit assumption of a renewed contraction in the economy, then we could well be talking about corporate earnings being closer to $75 in 2011 as opposed to the current consensus view of over $110. In other words, we may wake up to find out a year from now that whoever was buying the market today under an illusion of a forward multiple of 10x was actually buying the market with a 15x multiple." And since we are in the throes of a deep depression and a 10x multiple is more than generous, applying that to $75 in S&P earnings, means that the fair value of the S&P is... we'll leave that to our readers.

  3. (Dave)

    thx anonymous. funny thing is if you use a real GDP deflator for the last 2 years, we never truly had any positive GDP growth over that timeframe...

    Bill - i got an email from a colleague who knows a Greek woman over here doing a medical internship for a month - check this out:

    It's true, almost nobody pays taxes. When Greeks go overseas they work hard, but when
    they come home it's a different story. Her university is closed right now because a law was enacted preventing the police from entering Uni grounds, so there's bedlam. In the hospital attached to the uni they've had to abort surgeries part-way through because of a lack of
    medical/surgical supplies. And, like everywhere, the students are revolting.


    That "bedlam" will be coming to major cities in this country w/in - i bet - the next two years. Then we'll see why the Government wanted to so badly pass the Patriot/Homeland Sec Acts/Detainee Bill....

  4. it is also clear now why so many of the Obama admin left after a relatively short period. To be sure few if any were superstars, but they wanted out. Nothing like having their resume punched by a stint in the White House, though, regardless if was successful or not.

  5. Only problem with this is Clinton is the one that brought half the fraudsters to power. I can’t disagree with anything the man is saying – especially
    his call for Holder to finally begin indicting the fraudsters:
    What should the White House do? Panic!
    2. Indict people. There are certain
    people in American finance who haven't been held responsible for
    utterly ruining the economic fabric of our country. Demand from the
    attorney general a clear status of the state of investigation concerning
    these extraordinary injustices imposed upon the American people. I know
    Attorney General Eric Holder is a close friend of yours, but if his
    explanations aren't good, fire him too. Demand answers to why no one has
    been indicted.

    Mr. President, people are livid. Tell people that you, too, are angry
    and sickened by the irresponsible actions on Wall Street that caused so
    much suffering. Do not accept excuses. Demand action now.

  6. (Dave)

    Holder won't indict anyone. Holder is as corrupt as they come. Holder is the Asst AG under Clinton who wrote the pardon letter for Marc Rich that Clinton signed on his last day in the Oval Office.

    Holder is one of the biggest fucking scumbags in the White House right now. Hell, Bernie Madoff wouldn't trust Holder.