US vs. Iran

Telegraph: Reports that a US drone that was reported downed by Iran was in fact lost in Afghanistan, the Tehran Regime has threatened to retaliate. One can postulate that the drone was lost over Afghanistan, it either crashed in Iran or was shot down, as Iran faces a international backlash for the storming of the UK Embassy in Tehran the Tehran Regime is playing games, as there are internal divisions in Iran between the Supreme Leader and the President, it can be argued that the extreme Religious elite in Iran want to make Iran isolated and thus push for the bomb. They want to divert public anger form the Tehran Regime to the world community. It would be in the interest of the West not to play this game, in less Tehran does something stupid just say nothing.

Gingrich in Iowa - Poll

Guardian: Reports on a poll in the Des Moines Register, in the poll Gingrich leads by 25%, while his main challenger, Governor Romney is third on 16%. In the poll Ron Paul was second, but he is not in the real race folks, the Romney Campaign must be hoping that the former Speaker self explodes before the Iowa vote in early January, they must hope that Newt Gingrich says or does something that makes Romney the safe pair of hands that Republicans will vote for, not because they want to but because there is no other choice. If Gingrich does win Iowa the Romney Campaign must have a good showing in New Hampshire, after that the race goes South, in South Carolina the Gingrich Campaign is leading. It would be ironic folks if Romney was to lose the race at the last minute, this blog and others had thought that the Speaker in political terms was dead in the water due to disastrous start to his Campaign, but he has come back, so it could be the Gingrich year.

POTUS 51% Job Disapproval - Gallup

Gallup: Reports on its Daily Tracking poll on the Job Performance of POTUS, today President Obama has a 51% Disapproval, while 41% of Approve of the Obama record. Lets see if the fall in the unemployment rate helps the President over the next few days folks. It would be surprising if Oval didn’t get some credit for the fall from 9% to 8.6%. Of course when over three hundred thousand people just give up its not good news, thus they are not counted as looking for jobs. It will be interesting to see the Unemployment rate after the Christmas period, a lot of the jobs were in the service industry, thus will these jobs last beyond the seasonal period, this blog has its doubts. If there is spike back up to 9% or more people think the economy is turning then it could go up beyond that, as those searching for work are counted in the rate, this could be more trouble for the White House. Less than 10 months to go before November folks. Also the Iowa and NH votes, what time to be a political geek, so much fun.

Public Sector Unions and the UK Coalition Government

BBC News: Report that former Labour Cabinet Minister Lord Hutton has stated that due to the grim economic news there needs to be a urgent reform of public sector pensions. The UK Coalition Government should not budge on the deal if offered to the Trade Unions, all aspects of society are going to take a hit due to the recent statement by the Chancellor that that the UK will not get rid of the structural deficit by 2015, in fact it will go on in till 2017, that Unemployment will go up from 8.1% to 8.7% and that the Government will freeze public sector pay increase at 1% after 2012. The next few years are going to be hard folks, the Unions will just have to take the hit, the private sector just cant afford to fund the gold plated pensions of the public sector, the good days are over folks.

Obama and Class Warfare

The White House: Statement by President Obama on failed Senate Agenda. The President has stated the following, “ Tonight, Senate Republicans chose to raise taxes on nearly 160 million hardworking Americans because they refused to ask a few hundred thousand millionaires and billionaires to pay their fair share. They voted against a bill that would have not only extended the $1,000 tax cut for a typical family, but expanded that tax cut to put an extra $1,500 in their pockets next year, and given nearly six million small business owners new incentives to expand and hire. That is unacceptable. It makes absolutely no sense to raise taxes on the middle class at a time when so many are still trying to get back on their feet. Now is not the time to put the economy and the security of the middle class at risk. Now is the time to rebuild an economy where hard work and responsibility pay off, and everybody has a chance to succeed. Now is the time to put country before party and work together on behalf of the American people. And I will continue to urge Congress to stop playing politics with the security of millions of American families and small business owners and get this done. ” Does Obama ever bother to check the statements put out under his name, in the statement Obama states that it is “ makes absolutely no sense to raise taxes on the middle class ”, who does Obama thinks pays for the middle class in many respects, yes it’s the rich, by this blog definition the rich are small business owners, or those that are millionaires and billionaires, they pay most of the taxes, they buy the goods that are made by the working or middle class. These two groups know life is hard, thus they tend to be quite conservative in their spending habits, if you tax the rich, you don’t get the unemployment rate down, you don’t get tax revenue up, all you do is feed the class warfare ideology of the left and Obama. President Obama confirms what we knew already folks, he conned the US voter in 2008, he is left wing liberal, who does not understand Americans, in fact it can be argued that he does not like up and coming Americans, he seems to think that the poor have some morale claim on the wealthy to look after them from birth to death, that’s BS folks, if your poor giving you money does not help, you can either teach someone to fish or give them fish, if you give them fish but not the next day or the next day they starve, if you teach them, they can feed themselves.
　

Euro Bonds = No from Angela Merkel

Guardian: Reports a speech by the German Chancellor Angela Merkel to the German Parliament, again the Chancellor as ruled out Euro Bonds as way to save the Euro. There is a simple reason for this folks, the Germans would have to underwrite the bonds, in other words they would be on tap to bailout the PIGS in till the end of the time. Why would the PIGS reform if they know that the Germans are going to open the till anytime they get in to trouble. The Chancellor also stated that the Eurozone was on the way to a fiscal union, lets see how the other 16 States react to the fact that the Germans would have a VETO over their budgets, could revoke those budgets if they broke German rules. Lets see if the other 16 States of the Euro go along with the 4th Reich view of the EU. What really was the point of WW1 and WW2, the idea of Germany running the European economy was part of the aims of the Kaiser should Germany have won WW1.

8.6% Unemployment in the US

BBC News: Reports that the US Unemployment rate has fallen from 9% to 8.6%. There are two themes here folks, there is the political and economic, the Obama Oval will be shouting this number for all its worth, that would be a mistake, on the political and economic front, if you look deep in the background as the did on Fox News, they found that the drop was due to the fact that over three hundred thousand Americans have stopped looking for work and the new jobs are in the services industries, thus what happens after Christmas, these short term contracts come to end, thus a spike in the rate can expected in January. This will look bad on the political front, the US voter will expect the unemployment rate to do down after the seasonal period, when that does not happen they will think they have been sold a lemon. On the economic front, there is the 15 trillion US debt, the US political system has still not come up with a plan. Think of these figures as a pre Christmas Party, then expect the hangover in the New Year folks. Also the Credit Card Bill.