Our # 1 tells the story of the coming default of Greece. It appears it will need to leave the Euro zone. #2 tells of the charade that is going on with the so called Super Committee. #3 relates at least one aspect of the OWS crowd. Some of them are just there for the free food. #4 shows how the former governor of New Jersey lead his company into bankruptcy. #5 is a hit piece on Debbie Wasserman Shultz. #6 is about Herman Cain but it isn’t about the sexual harassment question. Rather it is about why the left seems so intent on discrediting him. #7 counters the stories you’ve heard about Newt Gingrich leaving his wife when she was sick in the hospital. #8 looks at the future and the “Arab Spring” may not end up being good for the world.
1. Goodbye, Greece
How does one say “Goodnight, Irene” in Greek? Or “Show Me the Way to Go Home”? Or, if neither of those classic festivity-enders does the trick, “Hit the Road, Jack”? In any case, the message needs to be sent: THE PARTY IS OVER, AND IT IS TIME FOR GREECE TO BE SHOWN THE DOOR, IF THE GREEKS CANNOT FIND IT THEMSELVES, AND EXIT THE EUROZONE.
A Greek default appears to be imminent. THE QUESTION IS WHETHER IT IS TO BE AN ORDERLY DEFAULT OR A CHAOTIC ONE. At the moment, the odds are about even between those two possibilities.
Prime Minister George Papandreou has called a parliamentary vote of confidence and a national referendum on the European bailout conditions to be imposed on Greece. Those conditions include bondholders’ taking a 50 percent haircut on Greek liabilities while the Greek government promises to enforce austerity measures to reduce spending and return the country’s debt-to-GDP ratio to a more manageable level (though getting Greek debt down to the level legally required by the Treaty of Maastricht is not in the works, a fact that should put the European project in perspective). ATHENS HAS MADE SUCH PROMISES BEFORE. GREEK UNEMPLOYMENT REMAINS HIGH, ITS ECONOMY A SHAMBLES. The recent recession has made things worse than they otherwise would have been.
The European Union being the European Union, it had been assumed that these conditions simply would be imposed by Brussels, without the Greek people’s having a say. THE VOTE THREATENS TO THROW A MONKEY WRENCH INTO EUROPEAN DESIGNS, AND MARKETS TANKED ON THE NEWS….
The EU is basically a fascist regime. It is a big government, top down command structure with leftist views.
2. Who do you Trust?
Economic Policy: The MAINSTREAM MEDIA'S CARICATURE OF THE BIPARTISAN BUDGET "SUPERCOMMITTEE" IS THAT ITS DEMOCRATIC MEMBERS HAVE GONE OVERBOARD WITH CONCESSIONS. In fact, Republicans can smell the snake oil.
Whenever Washington sets up a "blue ribbon commission," hold on to your wallet. This time, however, the game may not work, because Republicans in Washington know what happens when they betray their anti-tax principles.
SUPERCOMMITTEE DEMOCRATS RECENTLY OFFERED TO TRIM UP TO $3 TRILLION OVER A DECADE FROM ENTITLEMENT PROGRAMS LIKE MEDICARE IF THEIR GOP COUNTERPARTS WOULD AGREE TO $1.3 TRILLION IN TAX HIKES. That includes a rumored capital gains tax rate increase on some investors.
To enact major tax increases — especially on the capital that fuels private jobs — is near insanity at a time of 9%-plus unemployment and global financial distress.
THIS IS JUST ANOTHER DEMOCRATIC PARTY, MEDIA-DRIVEN GAME OF THREE-CARD-MONTE. Back in the 1980s, President Reagan agreed to over $9 billion in tax increases in exchange for the one ironclad budget-cutting mechanism ever enacted: the Gramm-Rudman "sequester."
BY 1990, WHEN IT BECAME CLEAR THAT THE AUTOMATIC BUDGET CUTS WOULD KICK IN, THE DEMOCRATIC MAJORITIES IN BOTH HOUSES OF CONGRESS SCRAPPED IT. So much for deals….
This is the pattern with the Democrats. You make a deal with tax increases immediately and spending cuts sometime in the future. When the future finally shows up, you scrap the spending cuts. Like Charlie Brown with Lucy and the football, the Republicans have fallen for that over and over again. However, this time they aren’t.
3. A Day in Zuccotti Park
AS REVOLUTIONS GO, THE REPUBLIC SEEMS FAIRLY SAFE.
Last week I found myself in lower Manhattan. With a bit of time to kill, I decided to satisfy my curiosity about the Occupy Wall Street protests (I hesitate to describe what I saw as a movement). So, I wandered over to Zuccotti Park and waded in. First, as an historian with a passion for medieval history, I have often wondered what odors would assail the senses if one was among a large group of individuals who had only a passing acquaintance with concepts of hygiene….
… I was not alone in my disappointment. Spotting a milling crowd in the center of the encampment I wandered closer. A MAN ON THE OUTSKIRTS OF THE MINI-MOB WAS YELLING AT THE CROWD. I ASSUMED HE WAS ATTEMPTING TO STIR THEM FROM THEIR LETHARGY, possibly preparing them to march on some millionaire’s house. Given the buzz of activity around him I was sure I had found the epicenter of the revolution. It turned out, however, to be the feeding station, where free eggs and what I think was bacon were being given away. Milling around waiting for the free food was the most motley collection of vagrants I have ever witnessed. And the man haranguing them from the sidelines was in actuality condemning them for their lack of commitment. Over and over he shouted, “YOU’RE ONLY HERE FOR THE FREE FOOD — NOT THE REVOLUTION,” ALTERNATING WITH, “THE REVOLUTION IS NOT ABOUT FREE FOOD.” I stood to one side for a while, and it was soon apparent to me that for the majority of those at Zuccotti Park, their revolutionary fervor was very much related to getting a free meal….
It must be disappointing when you are leading a revolution only to find your “army” camped out for the McNuggets.
4. Corzine goes down in flames
IN THE END, JON CORZINE WAS LITTLE MORE THAN AN UNSUPERVISED ROGUE TRADER.
HIS DISPROPORTIONATELY RECKLESS $6.3 BILLION BET ON THE CREDIT QUALITY OF A FEW EUROPEAN NATIONS BANKRUPTED MF GLOBAL HOLDINGS LTD. OVER THE COURSE OF THREE DRAMATIC DAYS after the short-term credit markets quickly lost confidence in him and his firm. His gamble will cost MF’s shareholders and creditors billions of dollars and, virtually overnight, put the careers of MF’s almost 3,000 employees in jeopardy.
MF GLOBAL NOW HAS THE DISTINCTION OF BEING ONE OF THE LARGEST BANKRUPTCIES IN AMERICAN CORPORATE HISTORY, with almost $40 billion in liabilities. There is also the matter of the hundreds of millions of dollars of customers’ money that regulators have reported to be missing from the firm’s coffers.
In any case, it’s incredible how little Corzine and his associates learned from the collapses of Bear Stearns Cos., Merrill Lynch, Lehman Brothers Holdings Inc. and American International Group Inc. three years ago. And IT NOW SEEMS VERY HARD TO BELIEVE THAT JUST A FEW MONTHS AGO CORZINE WAS CONSIDERED THE FRONT-RUNNER TO BE THE NEXT U.S. TREASURY SECRETARY. …
Actually, bankrupting MF Global Holdings seems to fit right in with the Obama Administration’s “spend it even if you don’t have it” philosophy. And he was betting that the EU would bail out the economies of the EU nations in trouble.
5. Here’s A Hit Piece on Debbie Wasserman Schultz.
This is a bit stronger than I would go, but I do find Ms.Schultz to be basically the equivalent of a bumper sticker when it comes to complexity. She gets a lot more attention than she should for her vacuous speeches and op ed pieces. Of course that is pretty much what the Democratic party has become.
6. Herman Cain and the Left
Just as Republican presidential candidate Herman Cain predicted, he has become the most recent victim of the race-baiting left's high-tech lynching of prominent, conservative black men. Days before the Cain sexual harassment smear emerged from the sewers of liberal trash journalism, MSNBC'S MARTIN BASHIR HOSTED CONTRIBUTOR KAREN FINNEY WHO PROCLAIMED THAT CONSERVATIVES ONLY LIKED CAIN BECAUSE, "THEY THINK HE'S A BLACK MAN WHO KNOWS HIS PLACE." As Bashir actually thanked her on-air for making such an offensive and ignorant remark (far from being a submissive position, conservatives are supporting Cain in his effort to ascend to the highest office in the land), FINNEY GRANTED, "I KNOW THAT'S HARSH, BUT THAT'S HOW IT SURE SEEMS TO ME."
That's an interesting moment of candor since it now sure seems to any American paying attention that FINNEY AND HER FELLOW LIBERALS DISLIKE CAIN BECAUSE THEY THINK HE'S A BLACK MAN WHO KNOW HIS PLACE. Diversity of thought amongst minorities -- particularly blacks -- is forbidden in the church of liberalism. Having constructed their entire political kingdom on the back of the dollars-for-votes dependency model, SELF-MADE BLACK MEN WHO STRAY FROM THE LIBERAL PLANTATION AND THREATEN TO CARRY THE EMPOWERING MESSAGE OF PERSONAL (NOT GOVERNMENT) RELIANCE TO THRONGS OF MINORITIES CURRENTLY UNDER THE LEFT'S SPELL OF ENTITLEMENT, MUST BE DEALT WITH SEVERELY. Destroying them professionally and personally is a small price to pay to keep the plantation thriving.
I think the author here has captured the essence of what is going on. It appears the left it ready to destroy any black person who doesn’t know their place and what is frightening is how much they seem to enjoy doing it. Real racism has always been a fundamental part of the Democratic Party.
7. Jackie Gingrich Cushman Sets the Record Straight
… So, to correct the record, here is what happened: MY MOTHER, JACKIE BATTLEY GINGRICH, IS VERY MUCH ALIVE, AND OFTEN SPENDS TIME WITH MY FAMILY. I am lucky to have such a "Miracle Mom," as I titled her in a column this week.
AS FOR MY PARENTS' DIVORCE, I CAN REMEMBER I WAS 13 YEARS OLD, and we were about to leave Fairfax, Va., and drive to Carrollton, Ga., for the summer. MY PARENTS TOLD MY SISTER AND ME THAT THEY WERE GETTING A DIVORCE AS OUR FAMILY OF FOUR SAT AROUND THE KITCHEN TABLE OF OUR RANCH HOME.
Soon afterward, my mom, sister and I got into our light-blue Chevrolet Impala and drove back to Carrollton.
LATER THAT SUMMER, MOM WENT TO EMORY UNIVERSITY HOSPITAL IN ATLANTA FOR SURGERY TO REMOVE A TUMOR. While she was there, Dad took my sister and me to see her.
It is THIS VISIT THAT HAS TURNED INTO THE INFAMOUS HOSPITAL VISIT ABOUT WHICH MANY UNTRUTHS HAVE BEEN TOLD. I won't repeat them. You can look them up online if you are interested in untruths. But here's what happened:
MY MOTHER AND FATHER WERE ALREADY IN THE PROCESS OF GETTING A DIVORCE, which she requested.
Dad took my sister and me to the hospital to see our mother.
She had undergone surgery the day before to remove a tumor.
THE TUMOR WAS BENIGN.
As with many divorces, it was hard and painful for all involved, but life continued…
This is significant. The fact that it is coming out now, makes me think Newt sees the hope of getting the nomination. Just another story that has been politicized to try to discredit an political opponent.
8. Will the Arab Spring Allow Democracy to Flourish?
…The Magna Carta served as inspiration for other instruments of personal liberty, such as habeas corpus and bills of rights, and five centuries later served as inspiration for the U.S. Constitution. THE IDEAS OF LIBERTY AND LIMITED GOVERNMENT WERE CULTIVATED BY GREAT BRITISH PHILOSOPHERS — SUCH AS FRANCIS BACON, JOHN LOCKE, THOMAS HOBBES AND DAVID HUME — AND ON THE CONTINENT BY THE LIKES OF BARON DE MONTESQUIEU, VOLTAIRE AND JEAN-JACQUES ROUSSEAU. Through the works of Western philosophers and the politicians influenced by them, including the founders of our nation, THE IDEA EMERGED THAT POLITICAL LEADERS COULDN’T RUN ROUGHSHOD OVER THE COMMON MAN.
The key point to recognize is that Western transition from barbarism to civility didn’t take place overnight; IT TOOK CENTURIES. More importantly, for the most part Western civility and its institutions were not transplanted; they emerged from within Western civilization. Where they were successfully transplanted, it was done through Western colonialism, such as in the cases of the U.S., Canada and Australia.
In Libya and most other countries IN THE ARAB WORLD, WHAT WE KNOW AS PERSONAL LIBERTY IS NONEXISTENT. According to Freedom House’s 2011 “Freedom in the World” survey, as well as Amnesty International’s annual report for 2011, most North African and Middle Eastern countries are ranked either “repressive” or “not free.” Moreover, I believe that there’s little prospect for Arabs ever being free and that WESTERN ENCOURAGEMENT AND HOPES FOR DEMOCRACY ARE DOOMED TO FAILURE AND DISAPPOINTMENT. Most nations in the Middle East do not share the philosophical foundations of the West. It’s not likely liberty-oriented values will ever emerge in cultures that have disdain for the rule of law and private property rights and that sanction barbaric practices such as the stoning of women for adultery, the severing of hands or beheading as a form of punishment, and imprisonment for criticizing or speaking ill of the government…
What has happened in Egypt, Tunisia, and Libya is not hopeful. Most likely we will see a regression for women rights and status and renewed hostility toward Israel. Conceivably the Arab Spring could end in a Nuclear Winter.