The Golden Truth: Getting Uglier For El Hefe

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?

6 comments:

BillWednesday, 14 September, 2011
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.
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AnonymousWednesday, 14 September, 2011
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.

http://www.zerohedge.com/news/david-rosenberg-its-time-start-calling-what-it-modern-day-depression?
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AnonymousWednesday, 14 September, 2011
(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....
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HalWednesday, 14 September, 2011
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.
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AnonymousThursday, 15 September, 2011
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.

http://www.cnn.com/2011/09/14/opinion/carville-white-house-advice/index.html?hpt=hp_t2
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AnonymousThursday, 15 September, 2011
(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.
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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.