RTCS

Musings on the Week

Musings on the Week

August 10, 2013

 

Hubris – “We've seen the hubris. And now we're seeing the scandals.” David R. Gergen.

Politics – As expected, Obama's second term has deteriorated into a welter of scandals unmatched by any previous administration, including those of Richard Nixon and Bill Clinton.

Politics – NPR posted a summary of the House Oversight Committee’s findings on the IRS targeting of “progressive” groups versus conservative, Tea Party and “patriot" organizations.

Politics – While the IRS is being investigated for targeting TEA Party groups applying for tax-exempt status as charitable organizations, the IRS continues to TEA Party applications.

Politics – The President complains about a parade of distractions, political posturing, and phony scandals” that are manufactured by, spun by, and perpetrated by his administration.

Media – Chelsea Clinton has proven herself as competent a news journalist as her mother, Hillary Clinton, has proven herself competent as Secretary of Stateneither one even close.

Media – Finally the Republican Party realized they can overtly push back on the biased media, such as NBC and CNN’s political ads masquerading as unbiased propaganda.

Media – The mainstream media implosion continues as The New York Times Co has agreed to sell the Boston Globe for 7% of its original $1.1 billion purchase price in 1993.

Media – The Washington Post, the flagship paper of the national capital and epitome of liberal social views, was sold to Jeff Bezos for $250 million, 5% of its worth 15 years ago.

Media – As new technologies emerge, I expect Twitter will go the way of telephone party lines doomed by personal privacy issues and a lack of any viable business case.

Hubris – While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility.Andrew Sorkin.

Debt – America under Obama now has more debt than every country in the European Union – combined and more government debt than any country in the history of the world.

Budget – The Senate finally passed a budget proposal of their own, so now Congress must craft a negotiated bill, negating need for Continuing Resolutions, or Congress not be paid.

Jobs – According to the Bureau of Labor Statistics, 77% of all new jobs created in this calendar year have been part-time, less than forty hours a week jobs.

Taxes – The National Taxpayers Union found a 70% chance that “sin taxes” will not produce the predicted revenue, thus necessitating additional taxes to make up the revenue shortfall.

Finance – The major thing the Dodd-Frank Wall Street Reform and Consumer Protection Act did was to institutionalize “Too Big To Fail” by introducing government central control.

Finance – The major recipient of Federal Reserve largesse from Quantitative Easing has been the stock market, and the rest of the economy limps along at a near recession pace.

Healthcare – The House voting 40 times to repeal ObamaCare is a reflection of the American people not wanting ObamaCare before its passage and wanting it even less after passage.

Homeland Security – TSA has not shown itself to be exceptionally useful for thwarting terrorism, since it has never caught a terrorist in its airport checkpoints or anywhere else.

Elections – Only American citizens can vote in federal elections, so allowing non-citizens to vote in state and local elections enables benefits without the corresponding responsibilities.

Deficit – I expect one or more states to declare bankruptcy and seek assistance to recover from the bad economic decisions of the past under federal judicial protection.

Housing I expect that it will take four or more years at the current rate for the backlog of foreclosures to finally clear, before we see any signs of life of a robust housing recovery.

Hubris – Our environmental problems originate in the hubris of imagining ourselves as the central nervous system or the brain of nature. We're not the brain, we are a cancer on nature. Dave Forman.

National Defense – One impact of the budget sequestration is that the military has more “sexual response coordinators” (25,000) than it does recruiters (19,000).

GWOT – Obama’s preemptive embassy capitulation accomplished his objective of no interruptions on his birthday at Camp David or his vacation on Martha’s Vineyard.

Libya – The reason Libyan attacks were covered up was to hide the true nature of activities In Benghazi, including the CIA’s illegal arms trafficking in violation of international law.

Egypt – Obama ignores reality and refuses to label the Egyptian regime change as a coup, so he can continue foreign aid as Muslim outreach initiative, with no proof that it works.

Israel I expect that Israel will be attacked by Hamas and the IDF will retaliate by invading and then re-annexing Gaza based on defensible borders and 1920 San Remo Conference.

Israel – I expect that Israel will suffer a nuclear attack from Islamist extremists, and Obama will talk a lot, but stand aside and refuse to help defend this longtime ally.

Asia – I expect that North Korea will attack South Korea and attempt to reunite Korea, and Obama will be “unable” to support our troops and will negotiate for a stalemate.

 

David Coughlin

Hawthorne, NY       

www.ReturnToCommonSensesite.com