Reid Plan = Fails in US Senate

US Senate: Reports on the failure of the US Senate to close off debate on the debt ceiling plan of Senate Majority Leader Harry Reid, the vote was 50 to 49 to close debate, but sixty votes was needed end Republican opposition. The real plan is being developed by the White House and Congressional leaders, time is ticking, it should be an early vote UK time, the new plan needs the approval of both the Senate and the House.

Obama 56% Disapproval = Rasmussen Reports

Rasmussen Reports: Has it latest daily tracking poll, also not good for POTUS, in its poll of likely voters Obama has a 44% Approval rating, while 56% of likely voters disapprove of the job performance of President Obama. The Chicago Re-Election will get down and dirty next year folks, POTUS can not run on his record, it has been a disaster, the Republican nominee better have a good campaign team around him or her, the Democrats are going to make the nominee the devil in human form, they will be racist, they will make sure that the old people and families don’t have medical cover, they are only in for the rich, you get the idea folks, its old but it works, and the Democrats are in BIG TROUBLE, let the fun start in 2012 folks.

Obama 52% Disapproval = Gallup

Gallup: Reports on its latest daily tracking poll on the job performance of President Obama, today POTUS has a 40% Approval rating, while 52% of average US voters disapprove of the Obama record. This will send nerves sky high in the White House folks, the lower the Obama approval, the lower his power over Congress, the debt ceiling crisis seems to have hit POTUS badly, the Tea Party movement has gotten its demand for no tax hikes and the real power is in the Congress. But if there is a deal then Obama can bounce back, cuts and the issue will be off the table for next year, a year and a half is a long time in politics folks. Lets recall President Reagan was down to 35% in one poll and came back and crushed Walter Mondale.

Payback to Senator Reid = Debt Ceiling

HofR: Reports on the rejection by the House of the Reid Plan by 243 to 173. Thus after the games of the House and the Senate, back to the House, we have the real deal business going on at the White House, it seems that there will be a 2.4 trillion raise in the US debt ceiling, with around equal or higher cuts, the demand of the Tea Party Movement. The devil is in the details folks, lets see the small print, is this a real deal or PR by the Beltway leaders.

Deal by Tuesday?

Telegraph: Reports that the Oval and Congressional leaders are talking about raising the debt ceiling by 2.4 trillion with no tax hikes. This is phoney folks, the Credit Agencies might downgrade the credit rating of the US anyway, the theme from Agencies is that anything under 4 trillion in cuts does not pass the smell test, thus a 2.4 trillion raise in the debt ceiling and equal cuts is nothing, the US has a 14 trillion debt folks, there have to major trillion cuts in the US Budget, or the US will go the way of Rome and the British Empire, in the end broke.

Debt Ceiling Crisis = Tuesday ?

BBC News: Reports that both Democratic and Republican Congressional Leaders have expressed caution hope that the debt ceiling will be raised by Tuesday. The Tea Party movement should keep a close eye on Republican leaders, they should not be allowed to sell out the Republican Agenda as way of doing business as usual in Washington D.C, the US will not default on Tuesday folks, these are scare stories from the Democrats and liberal left wing media, the Republicans should hold their nerve and their ground on the debt ceiling.

Reid Plan = DOA in House

The Hill: Reports that the Debt Ceiling Plan by Senate Majority Leader Harry Reid is dead on arrival in the US House of Representatives. This is political games folks, the Republicans are not going to give the Democrats any victories, thus the Reid plan if it gets out of the Senate is dead in the House, very much waste of paper. The Republicans as stated should hold fast, if need be take it past default, make the Democrats pay the political price, its hardball time folks.

Boehner Plan = DOA in Senate

US Senate: Reports that the Senate has voted down the Boehner Plan by 59 to 41 votes. Reports that the Senate has voted down the Boehner Plan by 59 to 41 votes. Thus as stated we are in to back room deals, the Republicans should hold fast, force the Democrats to come up with a plan, defeat that in the House and then demand a majority of cuts, and that should not include Defence. If the Democrats want to play hardball then lets play hardball, take it down to the wire, the US will not default folks, the last time this blog looked the US Government was still getting taxes, thus enough to pay US bonds, defence, welfare etc. Lets see how it shakes out, the US will not go over a cliff folks what ever liberals think, lets play Chicago rules folks. The winner is the last Party standing.

Boehner Plan = House Result

HofR: Reports that the House has passed the Boehner Plan by 218 votes to 210. The plan of Speaker Boehner now goes to the US Senate, there the Democrats have said that the plan is dead on arrival, the Reid plan is also expected to fail in the US Senate. Thus we come down deal making, the Republicans should demand a majority of the Boehner plan, even deeper cuts, and only give the debt ceiling extension till the day after the 2012 election. The Republican have a strong hand, the Tea Party movement should keep an eye on the Republican leadership in Washington D.C, they should not be allowed to sell out the Republican Party or the voters for some shabby Beltway deal. Thus folks phone, fax, email, tweet your Congressional Representative, keep them on the straight and narrow folks.

Obama on the Debt Ceiling Crisis = Part Two

Here at the latest remarks by President Obama on the Congressional battle over the debt ceiling, “ Right now, the House of Representatives is still trying to pass a bill that a majority of Republicans and Democrats in the Senate have already said they won’t vote for. It’s a plan that would force us to re-live this crisis in just a few short months, holding our economy captive to Washington politics once again. In other words, it does not solve the problem, and it has no chance of becoming law. ” In other words the Democrats don’t want to deal with the issue in the Presidential Election year of 2012, that the Democrats would rather default than be grown ups in the room. POTUS has thrown his tax hikes out of the window, a win for the tea party, thus his support for the plan by Harry Reid, the Senate Majority Leader, Obama stated the following, “ What’s clear now is that any solution to avoid default must be bipartisan. It must have the support of both parties that were sent here to represent the American people -– not just one faction. It will have to have the support of both the House and the Senate. And there are multiple ways to resolve this problem. Senator Reid, a Democrat, has introduced a plan in the Senate that contains cuts agreed upon by both parties. Senator McConnell, a Republican, offered a solution that could get us through this. There are plenty of modifications we can make to either of these plans in order to get them passed through both the House and the Senate and would allow me to sign them into law. And today I urge Democrats and Republicans in the Senate to find common ground on a plan that can get support -- that can get support from both parties in the House –- a plan that I can sign by Tuesday. ” The problem is that the Reid plan will fail in the Senate and has ZERO chance in the House, POTUS had a chance of grand deal but blew it big time with his demands for tax hikes, thank the left wing of the Democratic Party for that path. Obama uses the phoney argument that the US will face a credit downgrade if there is no deal, the deal on the tale could lead to a downgrade, the Credit Agencies wanted a 4 trillion cuts deal, any new deal with be around 1 trillion, Obama states the following myth, “ Keep in mind, if we don’t do that, if we don’t come to an agreement, we could lose our country’s AAA credit rating, not because we didn’t have the capacity to pay our bills -- we do -- but because we didn’t have a AAA political system to match our AAA credit rating. ” What will Obama say when the credit agencies do downgrade the US credit rating, who will he blame, himself have my doubts folks. POTUS stated the following at the end of his remarks, “ But as I said earlier, we are now running out of time. It’s important for everybody to step up and show the leadership that the American people expect .” That is rich coming from Obama, his showed lack of leadership by not listening to the US voter when it come to ObamaCare, time for the Republicans to keep their word and cut government, even if this leads to default, time to see the real world for Obama and Democrats.

The House Blog

The Hill: Read the live blog from the Hill, it could be a long time folks, very long night. Made for political geeks.

US House of Representatives

HofR: Check out who voted for the Boehner Plan and who didn’t , this is a make or break vote for the Speaker folks, needs at 217 House members to support him, lets see what happens folks.

Watch Live folks = The House:

Boehner Plan and the House Vote

BBC News: Reports that the expected House of Representatives vote on the Boehner debt ceiling plan has been delayed. At the end of the day folks the Republicans in the House have to support their Speaker, once the Bill is passed by the House then the Republicans in the Senate can play hard ball with the Democratic controlled Senate, the Republicans have to make clear that this is it, take or leave it Democrats, if the US goes in to default then it will be the blame of the Democrats.

In the Spotlight = Italy and Greece

Telegraph: Reports that the cost for Italy and Spain to borrow on the money markets has almost reached default levels. As the article notes the markets are spooked by the fact that Germany wont confirm the agreed bailout plan in till after the Parliamentary recess, also that Greece does not have an automatic banker in Germany. Lets gets to the point folks, Italy and Spain are just within a inch of going over the cliff, if you don’t deal with the major issue of the debt within these countries then your playing games that will lead to disaster. The EU has to gulp and take over these debts, these means ALL the countries getting their wallet out, even the UK. Also the PIG countries have to get out of the Euro and return to their natural currency, these would mean major default folks, this would cost the EU, as the EU would have bailout these countries in the long term, the very long term folks. Otherwise folks we are heading for another Great Depression 11, while EU fiddles with its PR.

The Reid Plan = US Debt Ceiling CRISIS

The Hill: Reports that the Congressional Budget Office, the final judge on the various Congressional plans, has found the Senator Reid’s plan wanting when it comes to cuts. Thus another draft will be needed by Democrats. That’s the problem when you have politicians writing bills with their running shoes on folks, the big idea does not match reality, as with the Republican Plan the cuts announced didn’t match the headlines and thus both the Boehner and Reid plans will have a hard time getting through the their Chambers. At the end of the day the Oval might have to take the political backlash and increase the debt ceiling under the authority of POTUS. The US voter, the Courts will be up in arms, the Congress would fall in to foul political warfare for the next year and half, but that might be the only option folks. It can be postulated that the Houses and Senate might pass a 60 day extension every sixty days, that would really drive Obama up the wall, but he would have no choice but to sign on, otherwise the US goes in to default. Well POTUS wanted the job!

The House Republican Plan = US Debt Ceiling CRISIS

Fox News: Reports that plan by Republican House Speaker John Boehner has had to be rewritten as it was found that it didn’t cuts as much as expected, thus Tea Party Republicans are demanding real major cuts. Thus the expected ceiling vote will be on Thursday. Folks the Republicans have a great chance, they have to go for real major cuts in the welfare state, also they have to call the Obama bluff, the new plan should have two votes, one to get the Government up to the end of 2011 and then half way through 2012. No matter what the Republicans have to keep together, any weakness and the Oval and Senate Democrats will try to push through their tax hikes, this is a real moment of history folks, the Republicans have to win one for the Gipper, smaller government and no tax hikes.

Serious BLOW to the World Economy = IMF

Guardian: Reports that the IMF has warned the US that if does not raise its debt ceiling it could have major negative effect on the world economy. Folks lets get it straight, if the Debt Ceiling is not raised folks the US will still be able to pay its debts, send out welfare checks and the Wars in Iraq, Afghanistan Libya will not just stop. The US tax payer does not get a holiday, the tax revenue will still come in, just that Obama will have to be better spender. In short term a default is not a problem, its only a political problem, the world will not end if the debt ceiling is not raised folks. The Oval should be ashamed of itself and its scare stories that granny will not get her welfare cheque. Typical Chicago politics folks.

Shadow Boxing and the Debt Ceiling Crisis

Telegraph: Reports that the US will not fail to pass a debt ceiling raise due to the fact that President Obama by his own authority could raise ceiling independent of Congress. This is true folks, but then the House of Representatives would Impeach Obama and he would lose the 2012 Presidential Election. The Oval needs the Republicans to be on board for any deal, if Obama tries to use the law to break the Congressional deadlock then Obama Agenda would be DEAD on the Hill, Obama would not get a dollar out of them to run the White House, never mind Air Force One. Thus the Republicans should use their power to pass a limited ceiling raise, a six month extension, massive cuts, and then get a second vote in 2012. As they say in Chicago, just win.

Political Games and the Debt Crisis

BBC News: Reports how the Democrats and Republicans are throwing political bricks at each over the debt ceiling crisis. Folks the Tea Party Republicans wont allow Speaker Boehner to cut a deal with the Oval that raises taxes and does not have major spending cuts, the Democrats don’t want to cut the welfare state, they want to raise taxes, the Oval does not want a 2nd debt ceiling before the Presidential election and Republicans want that as to finish off Obama. This just could be a perfect storm that leads to default folks, odder things have happened folks.

Review of Presidential Address = Debt Crisis

What a load of hot air by POTUS folks, the typical class warfare line, the spin in not wanting to admit that Obama wants the debt ceiling off the agenda in 2012 during the election, the attack on business vs. the people, the debt crisis is taking the US over a cliff and Obama is coming out with this kind of rubbish. Then to use Reagan in his defence, note to Obama, this blogger trusted Reagan with his life, this blog would not trust Obama to take his dog for a walk. GROW UP POTUS. Note to House Republicans, keep the line, don’t fold, keep to YOUR plan and dare Obama to VETO. Time to WIN one for the Gipper.

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No 10 vs. No 11 = Government AT War ?

Telegraph: Reports that No 10 is worried about the lack growth in the UK economy, aides to Coalition and Conservative leader David Cameron want the George Osborne the Chancellor of the Exchequer to have a plan for Growth. This is not like the late 1980s folks when Lady Thatcher was at war with her Chancellors, its just No 10 wanting political cover for the PM when the low growth figures are announced tomorrow. The Coalition needs growth to reduce the debt of the UK, thus far with the Euro crisis and the US debt crisis has not helped, the simple fact is folks is that the UK and the US are drowning in debt, the welfare state is killing itself, it has to be reformed or it will send Western Europe over a cliff, this takes political courage folks, thus far courage = politicians is a major joke, a bad joke but a joke.

President Obama from the White House

Click HERE to see President Obama live from the White House. This is a mistake folks, never do something like this unless you have a deal, so far no deal, just hot air out of both sides.

Obama to Address US = Debt Ceiling

BBC News: Reports that President Obama is to address the US tonight on the US debt ceiling crisis. It seems from reports in the US that the President wanted the air time to go over his talking points and support the Democratic Senate plan. It has been noted that the plan by Senator Harry Reid might not even get the sixty votes in the US Senate to get a vote and would fail in the House, the White House has stated the following on the Reid plan, “ Now, faced with the “my way or the highway,” short-term approach of the House Republicans, Senator Reid has put forward a responsible compromise that cuts spending in a way that protects critical investments and does not harm the economic recovery. All the cuts put forward in this approach were previously agreed to by both parties through the process led by the Vice President. Senator Reid’s plan also reduces the deficit more than enough to meet the contrived dollar-for-dollar criteria called for by House Republicans, and, most importantly, it removes the cloud of a possible default from our economy through 2012. The plan would make a meaningful down payment in addressing our fiscal challenge, and we could continue to work together to build on it with a balanced approach to deficit reduction that includes additional spending reforms and closing tax loopholes for corporations, millionaires and billionaires. Senator Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history. The ball is in their court. ”. Folks the Oval is playing chicken, the Reid plan main point is to get the debt ceiling off the agenda of 2012, the Republican plan is two stages, raising the debt with cuts up to end of 2011 and then have another vote in 2012, this would be a nightmare for the Oval, the Obama Chicago Re-Election Committee would have PR nightmare in selling another debt raise. The chickens have come home to roast for POTUS, his economic plan has failed to reduce unemployment, now at 9.2%, the point of ObamaCare was to reduce the costs of health care in the US, the reverse has happened, costs are sky high. Hubris is when someone thinks their IT, the STAR of the show, the problem is in movie terms if you last movie flops and the public turn against you, it either you change or have a different career. POTUS might find in 2013 that he has to go back to being a Law Professor, being a Carter Mark 2 will not be fun for Obama, hubris can be fun to watch sometimes.

Obama and the Polls

RCP: Reports on its Average of the Polls for the job performance of President Obama, the latest has POTUS on 45.8% Approval while 49% of US voters Disapprove of the job performance of President Obama. This is not good folks, but we are a year and half way from the 2012 Presidential Election, a lot can happen between now and then, the US economy could turn around, thus the unemployment rate could go down from 9.2% to around 8%, the US voter could start to love ObamaCare, outside the box thinking folks, the Wars in Afghanistan and Libya could turn around, seen a major US victory, yes folks we are in the Twilight Zone at the moment. We shall see, its not over till its over, or words to that effect.

The Debt Ceiling Plans

Fox News: Reports on the conflicting plans between Democrats and Republicans, on the Democratic side there would be two trillion in cuts and no tax hikes, thus taking the issue off the table in 2012, on the Republican side its two stages, cuts of one trillion but only taking the issue off the table for this year. Folks this down to politics, the Obama Chicago re-election committee knows that if there votes next year to raise the debt ceiling its over for President Obama, the Republicans are also playing a game, they want to see Obama ask during an election year for the debt ceiling to be raised, it would mean political oblivion for Obama. It can be argued that the Republicans have never had a stronger hand, they should pass a one trillion cuts plan and raise the debt ceiling and leaven town, force the Democrats to kill the idea and then allow the US to go in default. The US voter has had it with Washington spending, the welfare structure of the US will drive the US the way of Rome and the British Empire, it will go broke, and it will be a lot sooner than expected, then China will be the new economic super power, God help Taiwan then, China could move in and the US would be to broke to react, that was the fate of the UK after the end of World War Two, we had to ask the US to take over our Imperial responsibilities. The Liberal welfare state of the US was good idea folks, but we are know in the 21 Century, the US has a ageing population and a narrow work force, taxes raised don’t match spending. Also the US is still in Afghanistan and Iraq, and lets not forget Libya, another Congressional problem for POTUS. It can be argued we are seeing the end of the informal American Empire, and its decline was its own fault, it didn’t learn the lessons of history, it forgot about the mother country, YES that the UK folks. All Empires end folks, its how they end that matters, to have gone broke is not a good way for the US to be recalled through the ages.

Debt Ceiling DEAL by Monday ?

The Hill: Reports that Speaker of the US House of Representatives, Speaker Boehner is expected to have a plan to show to his Republican colleagues by Monday and a vote by Wednesday. The plan calls for cuts and a equal raise in the debt ceiling. As long as there is no tax hikes this is a good plan, force the Democratic controlled Senate and the Oval to veto plan, the Speaker should announced after the vote on Wednesday that the House is going in to recess, thus they are not passing anything else, in other words leave the Democrats with no choice, either pass the House bill or allow the US to go in to default. Its Chicago politics all the way folks.

Debt Ceiling Crisis

Telegraph: Reports on comments made by Bill Daley, President Obama’s Chief of Staff, Mr Daley stated that the money markets and the US voter faced stressful days ahead. At the end of the day folks the US cant just add more debt, at present the US debt stands at fourteen trillion, the Republican House should force the Oval to make heavy cuts in the US welfare system, while not hiking taxes, any deal between the Republican and the Democrats should not have any tax hikes, for the rich to the middle class. The Republicans have to keep their nerve and smoke out the real Obama, does Obama want to really make a major deal with cuts or does he want to pander to the liberal base of the Democratic Party, this deal will define Obama.

Huhne Saga Again!

Daily Mail: Reports that the Energy Secretary Chris Huhne and his soon to be ex wife Vicky Pryce have been interviewed again by the Police over the allegation that the Secretary of State transferred his driving penalty points over to his wife. The Police either have to charge Chris Huhne and his soon to be ex wife or drop the charges, how difficult can this case really be, one gets the feeling the Police are trying to game out the political consequences of either an arrest or dropping the chargers. Get a move on PC Plod.

CAUTION over EU DEAL = Greece

Guardian: Reports on concern in the money markets that the new EU deal will not be enough to save Greece and the Euro. As this blog stated when the deal was announced Greece is in default, the losses to private investors by the deal means that all the Credit Agencies should declare that Greece is in default. The deal itself will allow politicians in Europe to go on holiday in August but then we still have the fact that Greece will need further bailouts, the austerity packages demanded by the EU and the IMF will make it hard for Greece to grow its economy. The State sell off its assets is taking time, the people of Greece feel they have been shafted to save the Euro, then we have the major debts of Italy and Spain, will the Parliaments of the various Euro countries really put their hands in their pockets to protect Italy and Spain in the long term, the tax payers in these countries will one say NO. The EU has not dealt with the main problem folks, a welfare state that is to costly, a debt mountain that will make the Euro the new Weimar Republic, you can only change the rules so many times folks before the currency becomes worthless. Expect more meetings folks, these politicians will take the EU over the cliff at the end of the day.

Obama and Boehner new TALKS

Telegraph: Reports that President Obama and Speaker Boehner are to have further talks this afternoon to discuss the US debt Ceiling. Folks the Republicans should play hard ball, the Chicago way, it’s the only thing that Obama understands, give him half a trillion in cuts to US Government spending, make that cut the level in the raising of the US debt ceiling and then just leave the building and go in to recess, if the US Senate and the Oval wants to take the US in to default let them, sometimes in politics you just do the right thing and let the political costs land, time to show POTUS that elections have consequences, that was the point of 2010. Even if the US defaults it will not be the end of the world, the US Government will have plenty of money to pay its welfare state, if no money goes out it will be because POTUS is playing games, show Obama for what he is , a Chicago politician.

US Debt Ceiling TALKS Breakdown

BBC News: Reports that Republican House Speaker John Boehner has walked out on debt talks with President Obama after POTUS demanded tax hikes as part of any deal on the US debt ceiling. The Republicans on this matter should pass a limited cut packages, take the debt ceiling up in till mid way though next year and then go in to recess, then it will be up to Obama to either sign the bill or the US will go in to default. As noted in my last post on this subject the devil is in the details when it comes to Obama, it seems at the last minute Obama tried to pull a fast one to keep his liberal base happy, well if Obama wants to play those kind of games with the debt ceiling then the Republicans should just say NO and do the above and leave town.

US Debt Ceiling, the Oval and the Congress

The New York Times: Reports that President Obama and the Republican House Speaker John Boehner are close to deal that could see three trillion worth of cuts and the closing down of tax loopholes to raise some revenue. This sounds likes a good deal folks, first because the Democrats on the Hill have gone bonkers about cuts, also its been leaked to the liberal NYT, in other word liberals are trying to scupper their own President. Lets see the details folks, the devil is in the details folks, there should be no tax hikes.

Greece Defaults = EU Review

Guardian: The left wing Guardian has the following editorial on the Greek Default, “ ..Greece cannot pay its bondholders back in full on time, and so must default;….enough to quell the panic….Probably not;…” but the papers thinks the EU is heading in the right direction with its new bailout for Greece. This is the problem folks, you have the politics and you have the real world, in the politics of the left and Europe, the defence of the Euro must be done at all costs, no matter about the d-m tax payer or that that Greece, Ireland and Portugal will never be able to pay back their debt, the EU has just spun to give it a few more weeks or months breathing space, the EU will be back in crisis mode within short time folks. Never trust pro European papers or Governments, they will sell you down the river and smile at you while they watch as the Euro burns.

Greek Default

Telegraph: Reports the following on Greece and the Euro “ eurozone's first-ever default ” and that private investors will lose up to 50 billion from this new EU plan. This is advice to private institutions that hold the debt of the PIGS, sell boys, the EU has in essence stated that the economic word of the PIGS can not be trusted, if the private investors give to the PIGS they are throwing money down the toilet and hitting the tax payer. When the EU goes all lofty I hide by wallet folks, this does not deal with the problem that Western Europe is in fact broke, tax revenue does not match spending, also with the banking crisis of 2008 and other flaws the EU countries just have debt that is growing and not going down, the Germany tax payer will one day say NO, the politicians of Germany and France seem to care more about the Euro than their voters, shame on Europe.

2nd Greek Bailout and the EU = DEFAULT

BBC News: Reports that the Greece will get a second bailout of 96.3 billion pounds, that Greece will be given more years to pay it back, nearly 40 years and that private investors could give Greece another 50+ billion euros. Folks this is a Greek DEFAULT, its simple, Greece can not pay its debts, those that have invested in Greece will get a reduced rate if ever back, private investors are expected in fact to write off Greek debt. The EU has changed rules mid flow, is that even legal, could this be challenged in the Courts. Also the deal from first reading does nothing about the debt of Italy and Spain, it’s a temporary bandage folks, we will be back in here in a few months, it will either be Greece again, or Ireland or Portugal. The EU has failed and it just might have destroyed the Euro in the process.

Euro Crisis and the UK

Daily Mail: Reports that homeowners and UK business face an increase of banking costs due to the raising debt structure in Europe, the costs of borrowing from Europe by UK banks will be transferred down the food chain. Thus folks my original argument that taxing Euro banks although no UK banks will still be damaging, one way or another the UK will get shafted, all banks are inter connected, thus UK investors will end up paying European taxes for a Euro currency that the UK is not part off, that is how insane the present crisis is at the minute folks. Should the UK really be in the EU.

German/France and the Greek Debt

Telegraph: Reports that Germany and France are close to a deal on the Greek default crisis. The article notes that the Greek bailout would be paid by a tax on Eurozone banks, this is bonkers folks, if the banks have to pay more tax they will lend less to small business and people, thus the cut off of money back in to society. The biggest argument from small business of late is that banks wont even invest in good companies, well the banks can now argue that they have to take in account taxes from the EU, and with all taxes they will go up, thus less money in the banks, less investment and then recession, France and Germany GROW UP.

EU Summit and Greece

BBC News: Reports on the EU Summit on Thursday that will deal with the Greek debt crisis and its effect on other Euro Countries, the Summit is expected to green light a 2nd bailout of Greece. Folks this Summit has to get real results, if the only answer from the Summit is to throw money at Greece then it has failed. The Summit has to deal with the Greek debt itself, it would be better for the EU and Greece if Greece was allowed to default and then the EU and the IMF could really help Greece with a bailout to transfer Greece back to its natural currency and keep the Country afloat. If the Summit tries to get the banks to write off Greek debt the credit agencies have stated that they will see Greece as in default. Thus the wrong policy announced could be as bad as no policy. Lets be honest here folks, the PIG countries should be allowed to default and restart, otherwise its good money down the toilet to save the might ambitions of European politicians.

Afghanistan Front News

MOD: Has announced the name of the UK Soldier that was killed on Monday in Afghanistan, the Soldier was “ Corporal Mark Anthony Palin from 1st Battalion The Rifles ”. Our thoughts are with the family of Corporal Palin.

Germany and the Greek Default

BBC News: Reports that Germany has scaled down expectations for the emergency meeting by the EU on Thursday to discuss the Greek Debt. Lets be honest here folks, the biggest problem faced by the German Government is the fact that the German tax payer is not happy with all these bailouts. Thus the idea by Germany that private banks with Greek debt should write that debt off, this plan in the view of the credit agencies is a Greek default, thus a big problem. At some point even Germany will have to pull the plug on Greece, the longer the wait, the more political damage for Chancellor Merkel, and more Greece will suffer under its austerity package, when will the EU gets its head out of its backside, and see the real world folks, its an interesting question folks.

The Political Reality vs. Media Frenzy

Guardian: This poll must have shocked the living daylights out of the left wing Guardian, they have a new poll that has the Conservatives ahead of Labour, the poll finding are as follows, Conservatives 37%, Labour 36% and the Lib Dems at 16%. What is funny and I mean funny folks is that Labour under Ed Miliband is down three points, if you have been listening to the left wing press from the Guardian to the BBC you would have thought that David Cameron was on his way out, that his was Watergate UK style. The left wing media is now making accusations based on guilty by meetings, well if the Labour Party is going down that line it will be interesting to see when Tony Blair appears before the press inquiry, that should be an interesting time for Labour. As usual the left wing media are over reaching, yes the hacking case is serious, yes the police have questions to answer, so do the Courts, but all are very quiet on that, UK Judges are not afraid to throw people in jail for contempt of Court. That David Cameron was close to the Murdoch Empire, so what, has Labour lost its memory, lets hope the older hands row Ed Miliband back form his student view of the world.

Italy and Spain on the BRINK = Euro Crisis

Folks the UK hacking story is important but this story has the potential to wreck the lives of millions, send us all down the toilet.

Telegraph: Reports that the cost of Italy and Spain to raise capital on the money markets has almost reached the point of no return for these countries. Folks lets get honest here, Italy and Spain will fall its just a matter of time, the debt is to much, the austerity packages required can almost kill off economic growth, the EU countries have to decide, will they in fact bailout ALL the PIGS or will they allow these Countries to default. It can be argued that the EU for its long term security should allow these countries to hit the wall, then you can assess the damage and help, at present the EU/IMF is throwing money down the toilet and it wont be returned, that is a path to disaster.

Death in Afghanistan

MOD: Reports that a UK Soldier was killed by an IED Today in Afghanistan, the Soldier was from the “ 1st Battalion The Rifles ”. Thus since 2001 the UK has lost 377 of its Armed Forces Personnel in Afghanistan, of that total it has lost 333 in combat action and 44 due to illness, accidents or other incidents.

Money Markets Tumble

Daily Mail: The money markets are slid today folks, the joint pressure of the Euro debt and the US debt has sent the shares downhill. At 5.31 UK time, the FTSE - 100 was down 90.85 and the US Dow Jones was down 163.59. Folks the markets are going to take bigger hits, there is simply to much debt out there, the US and Euro countries have to change the basic structure of their welfare states, they costs are not matched by tax coming in, thus the politicians will have to ask the people, higher taxes for welfare or lower taxes and less of a welfare states, its that simple and stark folks.

2008 Economic Crisis AGAIN = 2011 ?

Guardian: Reports that the European Central Bank has stated that it fears another 2008 economic crisis, and as the article notes this a crunch week for the Euro, an emergency meeting will be held by Euro Countries on Thursday. Folks its simple, either the PIGS leave the Euro or the Euro will go down the drain, that is the hard choice, the cancer that is Greece if it is not cured will infect the economic body of Europe and crush it, time for harsh action by the EU, throw the PIGS out of the Euro, and really stress test the banks, there still has to be a lot of hidden debt folks, this blog does not trust the banks.

Afghanistan Front News

MOD: Has announced the name of the UK Soldier that was killed on Saturday in Afghanistan, the Soldier was “ Lance Corporal Paul Watkins, from 9th/12th Royal Lancers (Prince of Wales's) ”. Our thoughts are with the family of Lance Corporal Watkins.

54% Disapproval for POTUS = Rasmussen Reports

Rasmussen Reports: Has its daily tracking poll of likely voters, in this poll Obama has a 54% disapproval rating, while 45% of voters approve of the Obama record. Folks 2012 is not going to be like 1984 when Reagan destroyed former VP Mondale, its going to be a close race, this is why POTUS is on the money trail, he will need it to run the most dirty campaign in Presidential history, the Chicago re-elect committee can not run on the Obama record, it is a disaster, thus they will set out to destroy the Republican nominee, the only problem for the Democrats is that there is no front runner, thus they will have to wait, lets hope the Republicans select a decent candidate.

50% Disapproval for Obama = Gallup

Gallup: Reports in its latest tracking poll of average voters that POTUS has 50% disapproval rating for his job performance, while 42% approve of the Obama record. This is down to one simple fact, the US voter is not a fool, he/she didn’t need to go to Harvard to get the fact that there will never be a enough rich people to tax to pay for the welfare structure in the US. The only answer the Oval has to the present debt crisis is to call for more taxes, no wonder the rich and large companies are not hiring, they don’t know what other tax Obama is going to come up with, lets get real folks, at the end of the day if you want to pay the high price of welfare in the US you have to tax the middle class till they bleed, since that not going to happen the Democrats play politics while Washington D.C burns, shame on your POTUS.

The Apprentice

Guardian: Reports on the success of the Apprentice in the UK. Folks its must see TV tonight, its the final of the Apprentice, this blog thinks Tom the inventor has a good chance of winning, as Lord Sugar is seeking a business partner, Tom would be the best choice, he has a past record of product development and he invents things, also does not come across as the type to argue with Lord S, on the whole a big win for Lord Sugar.

US Debt Ceiling

BBC News: Reports that that President Obama has had talks with Congressional Leaders about increasing the US Debt Ceiling, thus far the talks have not been successful. Folks the only thing Obama has on the table is raising US taxes, the last thing you do in recession is increase taxes on people that invest and hire, this kind of rubbish is the type of thing Obama has been hearing from his liberal friends since Harvard, and its stupid, shows how out of touch Obama is with the real world, his liberal world is all take, tax and tax and never any cuts, the Republican House should not give Obama a d-m thing, call his bluff, the US wont fall over a cliff if the US goes in to default, the markets wont crash, the US is still a major power and the default would force Obama to grow up, elections have consequences mate and you lost in 2010.

Death in Afghanistan

MOD: Reports that a UK Soldier was killed on Saturday in Afghanistan, the Soldier was from the “ 9th/12th Royal Lancers (Prince of Wales's) ”. Thus since 2001 the UK has lost 376 of its Armed Forces Personnel in Afghanistan, of that total it has lost 332 in combat action and 44 due to illness, accidents or other incidents. It can be estimated by the time the UK leaves Afghanistan by 2014 the death toll from the Afghan Operation will have reached the 500 total. Half the losses of the Korean War folks, but with hundred if not thousands maimed for life. Will the military operation have been worth it folks, that’s the big question.

48% Disapproval for POTUS = Gallup

Gallup: Reports on its latest daily tracking poll on the job performance of President Obama, in this poll Obama has 48% disapproval rating, while 44% approve of the Obama record. One can argue its down to one issue folks, the Oval wants to raise taxes in a time of recession, only a Walter Mondale Liberal would think that was good idea, this is why Obama is heading for defeat in 2012.

End of Empire = The Monarchy

BBC News: Reports on the burial of the last heir to the Dual Monarchy of Austria and Hungary, Otto von Habsburg is to be buried in Austria. The First World War finished off the Austro - Hungarian Empire, it can be argued that policy makers made a mistake at the Paris Peace talks, the Monarchy could have been used to bring stability to Eastern Europe and prevent World War Two, of course this counter factual history, but an interesting thought, shows how policy ramifications should be thought through, as with Iraq, the war at the end of the day could benefit Iran, while the West is the major loser of the War in the long term. It should be noted that Otto von Habsburg stated he was getting death threats from the Serbian Black Hand decades after World War 1, shows history never goes away folks.

Euro Banks

BBC News: Reports that out of 90 European Banks, eight have failed a recent stress test. This blog has a problem with these bank stress tests, they didn’t take in account the great possibility that Greece will go in to default, and that Greece will be followed by Ireland and Portugal. Thus advice to investors buy gold and diamonds, another shoe is going to drop when it comes to European banks, and the cost to Europe could be the destruction of the Euro.

The Euro and the Banks

Guardian: Reports that the money markets are on edge due to the stress test of banks, the article states the following, “.. fears that today's annual health check ..will find fatal weaknesses in at least half a dozen institutions, ”. Folks if you have money start to buy gold or other assets, banks are broke, if PIG countries go and the US goes in to default then we are all in the toilet, a lot of banks will go under if the above happens, the Sovereign debt crisis can only end when the PIG countries default, the US deals with its debt mountain, thus far failure by politicians in Europe and the US. Advice folks, buy gold, and lot of it, or diamonds, they never lose value, its going to be harsh folks.

The Bond Market and Italy

Telegraph: Reports that Italy had to pay the bond markets its highest price in three years to borrow money to serve its debt. Lets see if there are riots on the streets of Rome folks, the Government is deep in personal and political scandal, will the Romans take to the streets as have the Greek people, interesting times ahead folks.

Italy OUT of the WOODS = Bailout ?

BBC News: Reports that the Upper House Italian Parliament has passed the Governments forty eight billion pounds austerity package, the lower House is expected to give the package the green light. Folks lets recall Greece, Ireland, they passed austerity packages, Greece still needs a second bailout, and Ireland has seen its debt rating cut to junk. Thus this move might not work folks. If Bank start to sell Italian debt, its toxic folks, one has doubts that Italy, Ireland, Greece will ever have the ability to pay back its debts. The iceberg of debt has done its damage folks, its just taking time for these countries to sink.

Titanic Artefacts

Guardian: Reports on Titanic artefacts on display at the National Maritime Museum in Greenwich. Next year folks it will be Century since the great Ship went down, why is it always the Titanic, other ships have gone down, that is simple, the Edwardian Age challenged God and Nature, and neither was moveable. It is the eternal question, what would you have done if you hade been on the Titanic, would you have been a hero, women and children first to the lifeboats or a coward, in other words getting on the lifeboat no matter what, most of us as lucky folks, we never have to answer that question, those poor souls in 1912 had to answer that question, and they didn’t have time to be wrong. That a type 40 Tardis was seen around has never been confirmed, that is the official line.

Greece Again!

Telegraph: Reports that Fitch the Credit Agency has further downgraded the credit rating of Greece, the Agency sees Greece having problems in its fire sale of Sate assets. Folks the EU/IMF knows that the Greek debt will have to be written off, there is no other option, but as soon as that happens the Greeks are in default and the Greek economy will be owned by the EU. Greece is the HIV patient who has to many partners and is sharing the contagion around EU. Thus far Ireland looks like it will need a 2nd bailout, Italy could be on the brink, then there is Spain, lets not think even think what would happen to the EU should Spain fall. The EU is a headless chicken folks, the Euro and its weaker carries could destroy the EU.

Terrorists Attack India

BBC News: Reports on three explosions in Mumbai ( Imperial Bombay ), as of present 21 are dead and over a hundred injured. One has to postulate that these terrorists have a Pakistan connection, or even an Afghan/Pakistan Taliban connection. As the explosions went off nearly at the same time one has to ask has Al Qaeda moved to attack India as an easier target and thus cause conflict between India and Pakistan, thus divert Pakistan from the badlands of the border between Pakistan and Afghanistan and cause problems for US Foreign Policy. As has been noted, the ISI, the Pakistan Intelligence Agency sees India as a mortal threat to Pakistan, not the terrorists in Afghanistan and Pakistan.

Spain and the Euro

Guardian: Reports that Spain could the next Country to need a bailout, the Guardian editorial states the following on Spain, “ .. is still being treated as a much bigger credit risk than its northern European neighbours. ”. Folks if the debt infection from Greece hits Italy and Spain it’s a whole new ball game, the latest downgrade of Irish debt rating to junk should hit the markets tomorrow, the view of Moody’s is that Ireland will need a second bailout, well one can postulate that Portugal will also have the begging bowl out sooner than later, a lot sooner if they see Greece, Ireland getting double bailouts at better rates. This blog NOW has Greece, Ireland, Portugal as default nations, what ever the EU thinks, also on the horizon could be Italy, Spain is not far behind. This is serious folks, and it could go either way.
　

Emergency EU Summit = Euro

Telegraph: Reports that the EU is to hold an Emergency Summit on the Sovereign Debt crisis that is facing Europe. Folks so far the EU/IMF with the best intentions in the world is not helping the PIG countries, in fact its making the crisis worse, its simple folks, if these countries were on drugs would not give them another hit, you would make them go cold turkey. The bailouts have added debts to these countries, it’s a vicious cycle folks, as an example, debts by the banks have been taken over by the States, but these States themselves have found they cant cope, thus although the reasons are different, you have the PIGS having had a bailout or needing a bailout. The PIGS are a cancer folks, they have to cut form the heart of EU, otherwise they will give the body politic Aids and its over. Its harsh folks but if the Euro is to last it needs drastic action, otherwise the EU/IMF has just creating more debt, and sooner or later this will kill the Euro.

Ireland and the Euro Crisis

BBC News: Reports that Moody’s the Credit Agency has downgraded Irelands debt rating to junk. As with Greece it looks like Ireland will need another bailout, of course the UK taxpayer will have to get his/her wallet out again! A second UK bailout to Ireland should come with strings, tight strings, or we should allow Ireland to go to the wall. Of course if Italy and Spain go then it does not matter, its over, Great Depression Mark 2, its on the horizon folks.

Tensions in Italy = Bailout ?

The New York Times: Reports on the internal political tensions within the Italian Government, the conflict between the Prime Minister and the Finance Minister, how this could threaten the Italian economy. As the article notes folks, if Italy goes then the whole order comes crashing down, US and Western banks hold billions if not trillions of Italian debt, should Italy fail to pass a tough enough economic package then the markets will hit Italy, one has to ask can Italy take a market battering, can the EU/IMF afford to see Italy fail. If this blog was a bank it would start to sell Italian debt under the radar and take out debt cover with US banks should Italian banks be the first to fall. Its not looking good out there folks.

Italy = The Next Big Bailout ?

Guardian: Reports that Italy has promised a tough austerity package over market worries that Italy can not afford to pay back its debt, as the article notes Italy was “ firmly in the eye of the eurozone debt storm on Monday…”. Thus folks we have seen two bailouts of Greece, and one so far for Ireland and Portugal, one has to come to the conclusion that the EU has to have major meeting and discuss how much debt these EU countries and how much it would take to bailout them out, the above mentioned are broke, they are all in the Euro, and the austerity packages will really hurt main street. Thus something has to give folks, either the EU gets its wallet out or theses countries have to default and restart their economies and welfare state in manner for the 21 Century. There is no strategic thinking, its one disaster after another, and lets not forget the fourteen trillion debt of the US, if that goes down then we area all in the toilet. The 21 Century has to see the West have another look at its welfare structure, lets be honest folks, old people are not falling of their perches fast enough and the young work force has declined. Something has to give, either taxes go through the roof or the welfare state of Western Europe has to change, who is going to bite the bullet folks, one thing this blog will promise, that politician in the future will look good but will only serve one term in office, that is the price of reform folks.

Italy and Spain, Who Next to FALL ?

Telegraph: Reports that debt bonds by Italy and Spain have sky rocketed over the their debts. Folks you can forget the PIG countries should either Italy or Spain go under, the German Government wants austerity from Italy, good luck with that, it hardly has a function Government, the personal scandals of its PM is more fun for the newspapers than the fact Italy is coming close to being broke, it should consider its position, it might just have to leave the Euro. Lets be honest folks, if the PIGS left the Euro the Euro just might last, otherwise its going down the toilet and taking the EU with it, the politicians have their heads in the sands, they cant cut bait and that bait is the Euro.

US and Syria = War of Words

BBC News: Reports that US Secretary of State Hillary Clinton has stated that the Assad Regime no longer has legitimacy in Syria. When did Assad ever had legitimacy, the Assad regime has always been a tyrannical family run state, President Assad will just have supporters attack more Western Embassies, the case of Libya has shown that if you call for the removal of a regime you have to follow through with ground troops, otherwise these third rate dictators will just play out the game and wait for the French to buckle as has been the recent case with France over Libya.

Brown Target = Murdoch Empire

BBC News: Reports that the Sunday Times used illegal methods to gain private information on the financial affairs of the then Chancellor of the Exchequer Gordon Brown. When looking at the hacking story folks one has to separate the real illegal threads and the those stories that could be illegal but there is no proof. Also the anti Murdoch left is getting off on the story, they want to cause as much damage as possible to the Murdoch Empire, but when the inquiry starts on the methods used by reporters in all papers expect the sea change, even the left wing media does not want Government regulation of the press, as long as it’s the Murdoch Empire coming under the fire the BBC, Guardian types will be in full attack mode, but when they come under investigation expect shouts of freedom of the press, that is the way it will happen folks, this blog lives in the real world.

Obama and Taxes

The New York Times: Reports that Republican Speaker of the House of Representatives John Boehner has withdrawn from seeking a deal on the debt ceiling with President Obama, the issue was the demand by the Oval for tax hikes. As the article notes the Speaker now wants a deal based on spending cuts not tax hikes. This is a good move by Speaker Boehner, the Oval will now have to defend why it wants tax hikes in a time of recession, also any deal will have spending cuts, this will send the liberal base up the wall and should hurt Obama in the 2012 race. Thus a wise policy and political move by the Speaker.

Huhne Saga - Prison Time for Ex - Wife?

Mail on Sunday: Reports that the Energy Secretary Chris Huhne discussed with his son the prospects of his ex - wife facing jail time over the scandal of the penalty points, also that the son asked his father to tell the truth. As Mr Huhne has stated he is open to supporting the Labour motion to block Mr Murdoch taking over BSkyB, one has to ask is the Cabinet Minister looking for a way to resign that harms the Coalition and gets support form the left. If the Police have the evidence in this case they should charge Mr Huhne, if it was you or me folks we would be in Court by now, and facing jail time.

Liberal Democrats and the Phone Hacking Scandal

Guardian: Reports that the Liberal Democrats could support a Labour motion to block the takeover by BSkyB by Rupert Murdoch. This is typical Liberal Democrats, once its get hot in the kitchen they throw allies under the bus, the Coalition Government is a phoney if the Liberal Democrats sell out the PM David Cameron. Any ruling by the House of Commons that is a block on the deal could find its way to the Courts, you do not respect the law by breaking the law. The Conservative Party should consider ditching the Lib Dems, go it alone, its first act should be to have a referendum on IF the UK should stay in the EU, and hold a General Election on the same day. Lets shaft the Lib Dems if they betray the spirit of the Coalition.

Not New Labour, Brown = Tony Blair

BBC News: Reports that former Labour PM Tony Blair has been critical of his successor Gordon Brown, the former PM stated that Labour stopped being New Labour once he stepped down in 2007. This war between Blair and Brown it seems will never end, one can postulate that Blair wants his period in office not be infected by the failure of the Gordon Brown Government. As Blair is in many respects critical of Ed Miliband it can be argued that Blair is not doing Labour any favours, one as to ask what office is he running for, he is after something, does he want his old job back?

Obama on the Death of Betty Ford

President Obama has stated the following on the death of former Ex - First Lady Betty Ford, “ Throughout her long and active life, Elizabeth Anne Ford distinguished herself through her courage and compassion. As our nation’s First Lady, she was a powerful advocate for women’s health and women’s rights. After leaving the White House, Mrs. Ford helped reduce the social stigma surrounding addiction and inspired thousands to seek much-needed treatment. While her death is a cause for sadness, we know that organizations such as the Betty Ford Center will honor her legacy by giving countless Americans a new lease on life. Today, we take comfort in the knowledge that Betty and her husband, former President Gerald Ford, are together once more. Michelle and I send our thoughts and prayers to their children, Michael, John, Steven, and Susan. ” This blog also send its sympathies to the Ford Family.

53% Disapproval for POTUS

Rasmussen Reports: Has its latest daily tracking poll on President Obama, today Obama has a 53% Disapproval rating, while 46% of likely voters approve of the job performance of President Obama. The latest unemployment figures were a disaster for the Oval, the rate has gone up from 9.1% to 9.2%. If you include those in part time work and those in jobs well below their qualifications the rate of unemployment is between 16% -20%. The one silver lining for the Oval is that the Presidential Election is a year away, thus if Obama is going to change his economic polices this is the time. In 1984 Ronald Reagan had just below 7.3% unemployment but won with 59% of the vote, 49 States and 525 Electoral votes, but this was due to the perception that the US was in the boom years, this is not the perception in the US NOW, Obama has to become a Reagan Democrat or face being a Carter Democrat, the Oval does not have much time, does Obama want a second term, or cant he admit he was wrong.

Ex - First Lady Betty Ford has Died

BBC News: The wife of the late President Ford, Betty Ford died on Friday. Of course Mrs Ford gave her name to the Betty Ford Centre and supported her husband through his political career, in 1976 President Ford faced a challenge for the Republican nomination from then ex Governor Ronald Reagan. The Ford Campaign won the nomination but lost to Jimmy Carter in 1976. In 1980 Ronald Reagan wanted ex President Ford to be his running mate against Jimmy Carter, but in effect Ford asked for a Co- Presidency, this was a no go with the Reagan’s, the demand was on live TV. The modern Republican Party is more Reagan’s than Ford’s.

US Unemployment Rate = 9.2%

The New York Times: Reports that the US unemployment rate has gone up from 9.1% to 9.2%. The Obama re-election committee in Chicago must be dreading the rate going beyond 10% in 2012, the state of the US economy is down the dire Obama economic record, over spending, big liberal programme in ObamaCare, and the idea that you tax the rich and thus this will not affect the rich from investing or hiring people, yes some Harvard crap that Obama has not learned is rubbish. Obama = Carter, the Republicans need a Reagan to clean the mess of Obama.

Pakistan and North Korea

Guardian: Reports that Generals in the Pakistan Army received money for the illegal transfer of nuclear information technology to North Korea. This is the problem that faces the Obama Administration when it comes to Pakistan, from the ISA, the Intelligence network of Pakistan to the Army, they play both sides, are corrupt, and want to be on the winning side. Thus ISI is in bed with the Afghan Taliban, as they see the Taliban as a counter to India, they don’t see the regional problems in the same way as the West. The security structure is corrupt, by selling nuclear technology to North Korea the Pakistan Army has made North Korea nuclear armed power, and thus limited pressure can be placed on North Korea, when it is threatening the South. At the end of the day Pakistan is heading to be a failed State, the US should have forces ready to take over the nuclear arms of Pakistan, they can not be trusted.

Syria and the US

Telegraph: Reports that the Syrian Government has accused the Obama Administration of interfering in the developing crisis sin Syria, the US Ambassador has visited a opposition stronghold. The Assad Regime is diverting attention, trying to provoke the US, while suppressing its own people, the UK is press is in high morale anger against the Murdoch Empire, the Assad Regime could wipe out Cities and the left wing media would find a way to blame Mr Murdoch. That’s the real world folks.

The Hacking Scandal and David Cameron

BBC News: Reports on the defence by Coalition PM David Cameron of giving his former spin Doctor Andy Couslon a 2nd chance after resigning as the Editor of the News of the World over the hacking scandal. Folks lets be clear, those that broke the law at News of the World should face Court and Jail time, but lets also be clear, this is the real world, the left wing media are jumping with joy at the chance to attack the Murdoch Empire, but as David Cameron noted his spin Doctor didn’t start a war in Iraq, thus a punch at Tony Blair. A press inquiry in to the ethics of the press will go nowhere folks, all the newspapers have dirty they don’t want out, thus after the press attention from the hacking scandal has gone the press will go all defensive and argue that you cant have the State running what papers can and cant do, everything is political folks, that is the real world, it is reported that Mr Coulson is to be charged, lets see who else will face the Courts, will not be surprised it if is kept at the level of Editors, that’s the way the system works folks. Both Labour and the Tories will back seeking press support before the 2015 election, and all this horror stories will be fish and chip wrapping, sad but the truth.

Greece vs. Credit Agencies

Telegraph: Reports that Greece has attacked the credit agencies for marking down the credit level of Portugal to junk. The argument being from the Greeks is that by devaluing Portugal debt this will lead to the crisis that Europe wants to avoid, but the TRUTH is the TRUTH folks, Greece is bust, so is Portugal and Ireland. The Greeks will get a 2nd bailout, as posted yesterday Moody’s the credit agency has stated that Portugal will also need a second bailout, one only has to wonder when Ireland will have its hand out for 2nd bailout. Lets recall folks this money does not go to the Greek people, it goes to the banks of Germany and France, all the games by these Countries is short term break to make sure their banks are secure before Greece has to default. The more France and Germany play games the more the crash when it comes will hurt Europe. The people that will be shafted will be the people of Greece, Portugal and Ireland.
　
　

The US Debt Ceiling

Well folks its back to the usual class warfare by the Obama White House, the President stated the following on the US debt ceiling, “ …I believe we need a balanced approach. We need to take on spending in domestic programs, in defense programs, in entitlement programs, and we need to take on spending in the tax code -- spending on certain tax breaks and deductions for the wealthiest of Americans…”. Thus when your coming out of a recession the last thing you do is raise taxes, who does POTUS thinks hires people, poor people, also when you in two wars, Afghanistan and Iraq, what does Obama want to do, cut defence spending, it was the Reagan defence spending in the early 1980s that lead to the economic boom of the middle and late 80s. This also lead to the 1984 re-election of Reagan with 59% of the vote, 49 States, and 525 electoral votes. A Harvard Degree does not make you fit to be President, yes on the US Supreme Court but not President, perhaps Obama will be another Taft, a one term, President who becomes Chief Justice of the US Supreme Court, he would do less damage on the US economy on the bench than in second term folks.

The US Debt Ceiling vs. Congress

The Hill: Reports that President Obama is to invite leaders of both Chambers of Congress to a meeting Wednesday to discuss the pressing US debt ceiling. The Republicans should not budge, no tax raises, major and extensive cuts or the US goes broke. This is not political risky folks, the US will still be there the next day, the markets wont tank, the pressure will be on the White House to cut a deal, think no money to spend on ObamaCare and its other welfare projects, the Democratic Party will have a nervous breakdown, good, time to teach Democrats that elections have consequences. The US voter and Republican voters do not want the debt ceiling raised in less there are major cuts to Government spending, time to force the Oval to see reality, take the US over the edge and show that Obama is a Carter Mark 2, then the US can have another Reagan.

Portugal = 2nd Bailout ?

The New York Times: Reports that Moody’s a Credit Agency has stated that Portugal might need a 2nd bailout, like Greece. Folks this is a mess, at what point will the EU/IMF just cut bait, how much pain can the French and German taxpayer take to save Greece, Portugal and in the future Ireland. These Countries are in effect bankrupt, Moody’s has declared the debt rating of Portugal to be junk, its going to go under sooner or later, the peoples of Greece, Portugal and Ireland will not be able to cope with the tough austerity package that these countries will have to go through, the economies in these countries will decline, this will increase those out of work, thus more debt to the welfare structures of these countries. These Countries need to ditch the Euro, default on their debts, and restart, otherwise the people will suffer just to protect the banks of the inner EU, e;g Germany and France. The UK can not afford to give another bailout to Ireland, it would better for our banks to take the hit and move on, otherwise its just money down the toilet, the finance ministers of the EU don’t have a clue, they are believing their own press statements, that is the road to madness.

Afghanistan Front News

MOD: Has announced the name of the UK Soldier that was executed by the Taliban on Monday, the Soldier was “ Highlander Scott McLaren from D Company, D Company, The Highlanders, 4th Battalion The Royal Regiment of Scotland ”. Our thoughts are with the family of Highlander McLaren.

The fate of a HERO = Afghanistan

Daily Mail: Reports how the latest UK Soldier died in Afghanistan, the Soldier from the The Highlanders, 4th Battalion The Royal Regiment of Scotland (4 SCOTS) was taken by the Taliban and shot in the back of the head. These is the kind of cowards that our brave Armed Forces Personnel have to face folks, this is why any withdrawal by 2014 from Afghanistan has to be gradual, the West can not afford to give a PR victory to the Taliban, the recent attack on a Kabul Hotel and this attack shows that the Taliban see the point of symbolic attacks on Western Forces before NATO leaves in 2015. In essence they get Afghanistan back but they want to show that like the Viet Cong in the Vietnam War they have defeated a Super Power, thus as Western Forces withdraw expect more attacks, the Taliban want to claim that like their defeat of the USSR and before that the British Empire, they have thrown back a invading force. The War in Afghanistan is also about spin folks, everything is political folks.

DSK = A Cleared Man ?

Telegraph: Reports from a US paper that the former head of the IMF, Dominique Strauss-Kahn will see charges of assault dropped against him, the accusers story has become suspect. Thus if the charges are dropped there is no reason that DSK can not run in the 2012 French Presidential Election. There is the forthcoming charge of attempted assault in France a few years ago but DSK is also contesting that up and coming charge if it goes to Court. The question is does the left want DSK to run in 2012 or has the stories with women finished his political career. One can postulate that France is not the rest of the world, thus it would not surprise this blog to see DSK as the next French President.

UK and Afghanistan

BBC News: Reports on a visit to Afghanistan by the UK Coalition PM David Cameron, the PM stated that there would be a moderate withdrawal of UK troops next year, the expect plan is for the UK to withdraw around five hundred troops in 2012. This is a wise move by the PM, the NATO Allies can not afford to give a PR victory to the Taliban/ Al Qaeda, on the whole on the strategic level the Allies are winning against the Taliban, thus this is not the time to take the pressure off, its not in the interest of the West for the Taliban to claim that they have pulled off another Vietnam type defeat for the US and its Allies.

Death in Afghanistan

MOD: Reports that a Soldier was killed today in Afghanistan, the Soldier was from the “ The Highlanders, 4th Battalion The Royal Regiment of Scotland (4 SCOTS) ”. Thus since 2001 the UK has lost 375 of its Armed Forces Personnel in Afghanistan, of that total it has lost 331 in combat action and 44 due to illness, accidents or other incidents.

Balls Negative influence = Blair/Brown Feud

Daily Mail: Reports more on the Campbell Diaries, the present Shadow Chancellor of the Exchequer Ed Balls was seen as a destructive influence by Tony Blair. No wonder Ed Miliband wants to change the rules when it comes to the election of the Shadow Cabinet, the new plan is for the leader to chose his own Shadow Cabinet, one can postulate that Ed Miliband will find a way to get rid of Ed Balls, it can be argued that the greatest threat to the Miliband leadership comes not from the Coalition but from Balls, lets be clear Ed Balls wants to be leader of the Labour Party, one former leadership candidate when asked about Balls political back stabbing stated that if it was not him it was his Evil Twin brother. Lets see if Ball is still there by 2015, have my doubts folks.

Writing off Greek Debts by Banks ? = Default

Telegraph: Reports that the Standard & Poor's a credit agency has stated that if the Greek Government follows the French plan to in essence write off its debt, it will be in default. This blog has already stated that Greece is in default, it cant pay back its debt, the austerity package will throw more people out of work, thus more welfare, the EU is thinking about French and German banks, once they are secure against a Greek default the Greeks will be thrown to the wolves. The bailouts by the EU/IMF does not go to the Greek Government it goes to the bankers, one can wonder why they bother with the postage stamp, just give the banks the money. Greece is bust folks, that simple and brutal, the Greek Parliament has sold Greece down the river with its austerity package.

4th July = Reagan Statue in the UK

BBC News: Reports that a Statue to honour the late US President Ronald Reagan has been unveiled in London. One has to wonder will President Obama even get a statue, is he Liberal Reagan or a Carter Mark 2. Thus far he is no Gipper, the US and the UK need another Reagan, with Reagan and Thatcher the West had real leadership, one has doubts that Tony Blair will get a statue in Iraq or Afghanistan.

The Blair/Brown Feud and World Politic

Guardian: Reports that the French and German Governments wanted to use the feud between Blair and Brown to their benefit. When internal party feuds become a benefit to foreign governments then the PM of the day has to act, but reading volume 1,2, of the Campbell diaries one can say that Tony Blair was very weak when it came to Gordon Brown. The idea that he thought Brown was brilliant and thus put up with his sulks, his political games through most of the Campbell diaries volume 1 and 2 is hard to see if you look at the Brown record as Chancellor of the Exchequer, the mess that the Coalition Government has to clean up comes form the time that Brown was Chancellor. But considering we are dealing with history, it says something about the lack of clarity at the present in the Miliband Labour Party that this story makes page 1 in the Guardian.

Huhne Saga = Those Travel Points

Mail on Sunday: Reports that the Essex Police have raided the former home of the Energy Secretary Chris Huhne and have taken his son’s mobile phone, the article states that father and son discussed the consequences to the family of a charge of a “conspiracy to pervert the course of justice. ” One has to ask when will the Deputy Prime Minister Nick Clegg cut bait when it comes to Chris Huhne, this has gone one for ages, there is a political cost to this kind of case dragging on, what if the Police charge a serving Cabinet Minister, this would be a disaster for the Coalition, an ex Cabinet Minister charged is something else, thus its time for Coalition PM David Cameron to have a word with Nick Clegg, as Mr Huhne is a Liberal Democrat the political butcher will have to be Nick Clegg.

Iraq Government and Shiite Militants

The New York Times: Reports the Iraqi Shiite Government has cracked down on Iran backed Shiite militants in Iraq, who are a threat to US Forces. Iraq on the whole has been off the news, simple reason the Bush surge worked and Iraq although not quite peaceful is more stable for US security. The US is meant to be out of Iraq by the end of 2011, it can be argued for the security of the US and Iraq that a small force should be kept in country to prevent Iraq falling to Iran once the US is out of Iraq. Also if Iran does go nuclear, the US or Israel will need to use Iraqi air space to attack Iran. The question of was the Iraq War worth it, is one that will take years if not decades, this blog still supports the launch of the War, if not the post war planning, and the failure of the UK military to configure their forces for the problems in the South, at the end of the day Iraq was a military failure for the UK, the sad part was that it cost the lives of 179 of our brave soldiers.
　

Win ONE for the Gipper = Lady Thatcher

Daily Mail: Reports that Lady T is determined to attend the unveiling of a statue on Monday to her late friend the great US President, Ronald Reagan. This blog will always be fan of Reagan and Thatcher, they showed leadership when the elite would have allowed the Soviet Union to still be around, the joint leadership of Reagan and Thatcher during the Cold War allowed that War to come to an end without a shot being fired, they took on the Unions and broke them, thus the economic boom of the 1980s. Ah to have such leaders again, that was a decade to be around folks, those were the glory days if you’re a conservative.

Tony Blair vs. The Prince of Wales

Guardian: Reports on the latest from the Alastair Campbell Diaries, in an exclusive the Guardian states the following on the political war between the Tony Blair and the heir to the throne, Blair thought that HRH “ stepped over the constitutional boundaries historically respected by the royal family, according to Alastair Campbell. ”. One can argue from foxhunting to GM foods that the Prince of Wales was right, HRH was for foxhunting and against GM foods, while Blair was opposed to foxhunting and for GM foods. This was not the first time Blair was wrong, from Afghanistan, Iraq etc, to Libya, also it should be noted that after Tony Blair left office he thought it had been a mistake to ban foxhunting, and supported the usual UK line, banned it but didn’t prosecute anyone because its still going on, very PR, so new Labour. Read of the Day.

EU Bailouts and the 2010 UK Election

Telegraph: Reports on the release of documents that show that after the 2010 General Election the Shadow Chancellor of the Exchequer George Osborne asked the outgoing Labour Chancellor of Exchequer Alistair Darling not to sing the UK up to any EU bailouts, this was requested was rejected. This shows the arrogance of Labour under Gordon Brown folks, the Labour government has been rejected and it was a political dodo, and what does Mr Darling do, leave behind a political time bomb for the Coalition Government. If a Government knows its going out of office it should not tie the hands of the incoming Government when its out of office the next day. Lets hope the House of Commons has a select committee to investigate this incident, see if any past understandings were broken by Mr Darling, was it form in the past after an election for the Government to sign such an important agreement without the consent of the incoming Government. This shows the tribal and arrogance of Labour folks, that why the UK is broke today.