US Government Shutdown and 2012 Re-Election of Obama

It seems that President Obama playing to his base with it comes to the prospects of a Government shutdown, the President stated the following to the press on the consequences of a shutdown, “ ….800,000 families -- our neighbors, our friends, who are working hard all across the country in a whole variety of functions -- they suddenly are not allowed to come to work. It also means that they’re not getting a paycheck. That obviously has a tremendous impact. ”. In other words POTUS does not want to upset the Unions, one of the major backers for Democrats. POTUS really milked the Union angle with the following remarks, “ So, again: 800,000 federal workers and their families impacted; millions of people who are reliant on government services not getting those service.. ”. This is the time for the Republicans to hold their ground, get major cuts, but not cut abortion, that is a woman’s right. Otherwise Republicans should keep the Democrats feet close to the fire, no deal without massive cuts in the 2011 Budget.

Is Spain Next ? = Bailout ?

Guardian: Reports that Spain is stressing that it is not in the same boat as Portugal, that its economic reforms and austerity will prevent Spain needing a bailout. At present it can be argued that Spain has a point, but as the Guardian article points out Spain holds seventy five billion of Portuguese debt and it exports heavily to Portugal. Thus with the debt from Portugal and the austerity measures that the EU and IMF will ask for it can be postulated that depression in Portugal will be a recession in Spain. As Spain is already in recession this could push Spain in to its own Depression. Thus Spain it can be predicted will be the S in the PIGS of the EURO.

The Kennedys - Review

Telegraph: Has a very negative review of the Kennedys TV drama. This blog found it very interesting, if you have a interest in the Kennedys there was nothing new in this drama, but if you have no interest in politics or the Kennedys then you would on the whole found it quite informative. The blog did have a problem with Joe Kennedy Junior being scathing about the heroic World War Two record of JFK, one can see the point, recall reading a biography of JFK that took the view that the episode either deserved JFK a medal or a Court Martial. In less that scene is taken from some historical source one has raise doubts, also would JFK really have had a affair; ( that’s being kind, there are rumours that he played away on the day he become President ); on the night of 1960 election. As to Greg Kinnear as JFK and Barry Pepper as RFK, they are excellent, Mr Kinnear has that JFK Kennedy charm, and Mr Pepper has that intensity of the younger brother. Lets see how the drama develops and what they cover and how they cover the historical episodes of the Kennedys. Out of 10, it would be fair to give the show 8.5. It could be real winner, and the Kennedys if anything were about winning.

Portugal Bailout and the UK

BBC News: Reports on the EU meeting to discuss the economic bailout of Portugal, the bailout is estimated to be about eight billion euros, while the UK cost will be about 4.2 billion pounds. Thus when Spain goes belly up the PIGS of the Euro will be formed, already there are reports that Greece will need more money and that Ireland wants to redraw the bailout package it received, the general economic commentary is that both Greece and Ireland sooner or later will have to default on their debts. One can postulate that Spain due to its property crash will be the next country with its hand out, this should be the line in the sand for the UK Coalition Government, the UK taxpayer should not bailout Spain. The politicians of Europe will have to discuss if they can keep the Euro, the stronger Euro Countries such as Germany are pushing the general economic policy of the EU, this is okay for the Germans but it is hurting the weaker countries such as the PIGS. The Euro at the end of the day in a fraud, good money down the toilet, time to flush the system, clean house and get some sanity back in to the economic system, this will be at the cost of the PIGS.