Today we first look at the world with foreign creditors getting antsy about Fannie and Freddie loans. We then switch to Obama’s poll numbers to see a new weakness in a very important constituency. The third article shows that Obama is not simply laying down, but is trying to craft a strategy that will let him win reelection with much less support than he had in 2008. Our final article talks about why unhappy people tend to be liberals (well worth the read).
Fannie and Freddie debt fuels anxiety
ASIAN AND MIDDLE EASTERN CENTRAL BANKS AND SOVEREIGN WEALTH FUNDS ARE INCREASINGLY ANXIOUS ABOUT THE SAFETY OF THEIR INVESTMENTS IN THE DEBT OF FANNIE MAE AND FREDDIE MAC, despite the assurances of US government officials.
Spooked by US political wrangling, major investors including the National Pension Service of Korea and the Kuwait Investment Authority have sold out of their holdings of the debt of the US Treasury-backed housing agencies since the 2008 global financial crisis. Officials from central banks, including the Bank of Japan, SAY THEY WILL BE FAR MORE CAUTIOUS IN FUTURE….
Fannie and Freddie must be reformed or abolished.
Pure Independents approval of Obama Down to 30%
ONLY 30 PERCENT OF PURE INDEPENDENTS—THOSE AMERICANS WHO SAY THEY DO NOT BELONG TO OR LEAN TOWARD EITHER THE REPUBLICAN PARTY OR THE DEMOCRATIC PARTY--TOLD THE GALLUP POLL DURING SEPTEMBER THAT THEY APPROVED OF THE WAY PRESIDENT BARACK OBAMA IS HANDLING HIS JOB as president.
Overall, Obama’s approval was at 41 percent for September, Gallup said today. That tied August as the worst monthly job approval of Obama’s presidency.
PURE INDEPENDENTS WERE FAR LESS LIKELY THAN DEMOCRATS TO APPROVE OF THE JOB OBAMA WAS DOING IN SEPTEMBER, ACCORDING TO GALLUP. During the month, 79 percent of liberal Democrats said they approved of the job Obama was doing, 70 percent of moderate Democrats said so, and 64 percent of conservative Democrats.
With the two parties split evenly it is the independents who basically say which party will be in office. Not good for the Democrats.
Obama’s 2012 Strategy
President Barack Obama obviously is scrambling in his attempt to win re-election. He has proclaimed himself the underdog and has given up his pretense of being a pragmatic centrist compromiser in favor of harsh class warfare rhetoric.
But it's worth taking note of what he has squandered. In 2008, OBAMA WON 53 PERCENT OF THE POPULAR VOTE. That may not sound like a landslide, but IT'S MORE THAN ANY OTHER DEMOCRATIC PRESIDENTIAL NOMINEE IN HISTORY EXCEPT ANDREW JACKSON, FRANKLIN ROOSEVELT AND LYNDON JOHNSON.
Higher than Woodrow Wilson and Grover Cleveland, higher than Harry Truman and John Kennedy, higher than Jimmy Carter and (but don't bring up the subject with him) Bill Clinton.
Why have so few Democratic nominees won 53 percent or more, as 10 different Republican nominees have? The historical reason is that the Democratic Party has been an unruly coalition of disparate groups -- big-city Catholics and Southern whites for the century after the Civil War -- which usually has been hard to hold together.
OBAMA'S 2008 COALITION INCLUDED TWO-THIRDS OF YOUNG VOTERS AND LATINOS, MAJORITIES OF THOSE EARNING MORE THAN $200,000 AND THOSE EARNING LESS THAN $50,000, non-college whites in the upper Midwest, and 95 percent of blacks nationwide. Some obvious tensions there.
Now his strategists feel obliged to pick which groups he'll concentrate on to get back up to 50 percent. WHAT'S INTERESTING IS THAT HIS DEMOGRAPHIC STRATEGISTS AND HIS ISSUE STRATEGISTS SEEM TO BE EYEING DIFFERENT GROUPS. …
http://www.realclearpolitics.com/articles/2011/10/10/obama_team_split_on_how_to_rally_unruly_coalition_111616.htmlThis one is a worth some time. Barron looks at what Obama is thinking about doing and the difficulty of making it work.
Why Unhappy People become Liberals
Think about the people you know who have low self-esteem. We’ll call that person The Patient. THE PATIENT DOES NOT SEE VALUE IN HIMSELF. He does not consider himself worthy of advancement, of self-transcendence, or self-actualization. Instead, The Patient believes he is a bad person, undeserving of success, love, wealth, or happiness. HE COMES TO BELIEVE, THEREFORE, THAT ANY EFFORT HE EXERTS ON HIS OWN BEHALF IS DOOMED TO FAIL BECAUSE HE IS SUCH A BAD PERSON AND DOES NOT DESERVE ANY SUCCESS.
But there is this tiny little voice — the ego — that just won’t stand for this self-flagellation. So THE EGO PROJECTS THE PATIENT’S SELF-HATE ONTO THE OTHER AS A DEFENSE. They project the self-hate onto the person who happy, wealthy, successful, and loved. NOW, IT IS THE OTHER WHO BECOMES THE OBJECT OF HATE. “Why should have everything? What has done to deserve all this? I’m not the bad person, is.” As a friend’s Facebook quote said just today, “Haters don’t really hate you, they hate themselves because you are a reflection of what they wish to be.”
Then, as the pathology deepens, the projection distorts further. Now THE OTHER IS ACTUALLY THE OF THE PATIENT’S UNHAPPINESS BECAUSE THE PATIENT’S EGO REFUSES TO ACCEPT THE TRUTH THAT THE PATIENT HIMSELF IS THE CAUSE OF HIS OWN UNHAPPINESS. Blame cannot be taken! THE PATIENT BECOMES THE VICTIM. The Other is demonized — literally transformed into a demon, an evil entity. THE OTHER IS CALLED NAMES. THE OTHER IS DEHUMANIZED. The Patient now self-righteously, and in the name of all that is good and just, actively seeks to destroy The Other. To punish It. To take away what It has by force. Because by destroying The Other, The Patient believes the source of their suffering will be removed.
Ladies and Gentlemen, I give you The Liberal….
This is a sad tale, but unfortunately it hits home pretty well. The name calling on the left is rampant. Anyone who disagrees with them is evil. Kind of pathetic actually.