Liberal NYT vs. Senate Democrats

The New York Times: Has a blistering attack on Senate Democrats for their lack of support for the Obama jobs plan, the liberal NYT states the following on Obama, “ Unfortunately…has not been as forceful in pressing …Senate Democrats. ”. The Editorial writers of the bloated NYT should really get out more, the Democrats in the US Senate want to keep control next year, the Democratic Senators from Republican states saw happened to their House Colleagues who voted for ObamaCare, they got thrown out on their ears. Thus the new idea from the leadership of the Democratic Senators, a 5% tax on those that earn more than a million. The liberal left starting in the Oval has lost the plot, what is the last thing you do in recession, raise taxes, what did Reagan do in his first term, cut taxes and cut government spending, thus the economic boom of the of the 1980s and well in to the 21st Century. The bloated NYT like the Oval has allowed its arrogance and hubris to shine through, lets hope Conservative Democrats in the US Senate block the latest class warfare policy of Obama, the NYT should really travel the whole of the US, there is a lot of states between New York and L.A.

The Germans and Bank Bailouts

Guardian Live: Reports on remarks by Chancellor Merkel of Germany, the Chancellor stated that Europe would bail out the banks if the need arose. It is interesting that the Chancellor used the term EU, she didn’t say the Germans, as the UK is in the EU, is the Chancellor asking that all members of the EU bailout eurozone banks, this would cause anger on the Conservative backbenches, the UK has already given six billion pounds to Ireland, lets recall that was the same amount as the expected UK budget cuts. One can postulate that should the Greeks default the rest Portugal, Ireland, Spain and Italy will ask for more bailouts at reduce cost and less austerity. In many respects this would be gun to the head of the EU, the expected Greek default has already caused the French/Belgium Bank Dexia to go belly up, the bank carried high Greek debt, its worse with French and Germans banks. Thus what ever deal the PIGS wanted they would have to be given, as the EU could not survive if they all defaulted on their debts. Thus expect the UK to get its wallet out folks, the 2/3 trillion safety net has to come from somewhere, the Germans wont pay it all, and the UK still has its triple A credit rating, thus can still borrow large amounts from the market. This is going to cost the UK folks.

President Obama and his Jobs Plan

Telegraph Live: Reports that President Obama is calling on Congressional Republicans to pass his jobs plan. This is the usual hot air out of the STAR, even his own Senate Democrats wont vote for this class warfare tax plan, why do left wing liberals always want to tax people who have worked hard and made money, yes its easy to bash the bankers, but at the end of the day you need the bankers, yes in other walks of life they would be doing time, but this is the real world. The housing crisis that lead to 2008 banking collapse has its routes in the Clinton Administration pushing the policy that everyone should have a home even if they didn’t earn enough or barely had a job. Thus the banking and sovereign debt problem that the West has NOW comes from the selfish polices of those on the left. You don’t find the left admitting that its was its own polices that created this economic mess, and now they want to tax the rich, SORRY, but who spends on luxury goods in a recession, the poor ? NO, the better off, if you tax people for making money they don’t spend, no money in the system you have people thrown out of work, then an increase in welfare. This blog is getting sick to death of hitting the bankers, YES some could do with some jail time, but its not going to happen, so get over it YOU on the left. Its time to work with the bankers, make them want to come to the US and the UK, put away the rubbish ideology and think of new ideas, after the failure of the left they should be a lot more humble.

Printing Money and the Bank of England

BBC News: Reports on the news that the Bank of England is to pump another 75 billion in to the economy. At its most basic the Bank will buy Government Bonds from the Banks and then the Banks should buy shares in companies, invest in small business, the first two hundred billion during the Gordon Brown Era kept the UK going, but has not solved the basic problems, the Banks have been told by the Government to keep enough in the till should bad loans go bad, the banks have taken this to far, they are not giving money out to small business, even good companies with a good track record are finding it hard to get money out of the banks. In Europe it has been reported that the European Central Bank is to give long term loans to banks that require short term loans to balance their books. This should make banks leading to each other easier, but then there is still Greece, that is the black hole at the centre of the EU.