What’s New Today
Story #1 is
my take on what’s going on with Obama and his latest Unconstitutional move on
immigration. The answer to the question “is
Obama trying to get Impeached?” is probably yes. #2 gives us another example of Obama
evolving. He’s said he can’t do what he
did this week just a few months ago. #3 is
a new ad by Karl Rove that owes a debt to Charlie Brown. #4 is more bad economic news for the
Democrats. #5 looks at what happens if
Greece drops out of the Euro Zone. #6 is a story from the past.
Today’s
Thoughts
What’s wrong with the public
schools? Ask Michelle
Apperson, a teacher at the Sutterville Elementary School in Sacramento who was named “teacher of the year” by the school
district, and was subsequently fired because she was outranked in
seniority.
Ruth
Bader Ginsberg: “I have spoken on more than one
occasion about the utility of dissenting
opinions, noting in particular that they can reach audiences outside the
court and can propel legislative or executive change," This
is ominous if you are a supporter of Obamacare.
1. Is Obama trying to get Impeached?
With
Obama’s executive order to halt deportations of young Mexican immigrants, we
have Obama following a line of
extralegal actions he has taken in violation of the Constitution. Obama admitted that he didn’t have the power
to do this since the law was the law, but it appears as the time has gotten
closer to the election, he needs to pander to whoever he can. Besides that Marco Rubio was working on a Dream Act of his own getting bi-partisan
backing for this. But Mr. Obama
cannot afford bi-partisan action and certainly didn’t want a Republican who
could possibly be a VP candidate to get credit for a legal solution.
But isn’t he afraid of being impeached? He probably should be. He violated the law with the GM and Chrysler
bankruptcies, refused to enforce the Defense of Marriage Act, his
administration ignored a court order to allow drilling in the Gulf, and he
flagrantly violated the War Powers Act by deploying US forces in a war against
Libya without Congressional authorization.
He is legally in jeopardy, but
politically it isn’t likely to happen.
Impeachment would rile up the Democratic base
and even garner sympathy with the
moderate voters. And impeaching him
for allowing illegal children to stay here in violation of the law would give him a huge boost with the
Hispanic voter. It would open the
Republicans up to the charge that they are doing this to a black president and
wasting the taxpayers’ money and not
working on jobs.
So
Obama probably wants the right to impeach him and the right would be fools to
do so.
2. Obama Changes his mind on Immigration (or is that
evolve?)
With his announcement that he will,
in effect, unilaterally enact a key feature of long-debated immigration reform,
President Obama is doing something he
has always wished to do: Get around a Congress that doesn't see the issue his
way.
In a speech to La Raza last July,
Obama said that on the question of immigration reform, "some people want
me to bypass Congress and change the laws on my own." Obama said he found the idea "very
tempting" but had to reject it because "that's not how our system
works."
The president was in a somewhat more
combative mood last September, when he addressed the Congressional Hispanic
Caucus. "As I mentioned when I was at La Raza a few weeks back, I
wish I had a magic wand and could make this all happen on my own," Obama
told the group. "There are times where -- until Nancy Pelosi is speaker
again -- I'd like to work my way around Congress."
Instead of rejecting the idea out of
hand, though, Obama told the lawmakers
that he had the power, as president, to aggressively enforce, or not
aggressively enforce, laws Congress has passed. "We've got laws
on the books that have to be upheld," Obama said. But "you know
as well as anyone that…how we enforce those laws is also important."
At the time, Obama conceded only
that really big changes require the approval of Congress. "We live in a
democracy, and at the end of the day, I can't do this all by myself under our
democratic system," he said. "If we're going to do big things --
whether it’s passing this jobs bill, or the DREAM Act, or comprehensive
immigration reform -- we're going to have to get Congress to act."…
Obama has shown that he cannot govern, but he is doing his
best to “rule.” That is unacceptable for
a president of the USA. We got rid of
King George III with our revolution. We
will get rid of King Barack I with our election in November.
3. Good Grief, Barack Obama
A new ad by Karl Rove not so subtly evoking Charlie Brown
and Obama’s tired old excuses.
4. More Bad News for the Democrats
Factory output contracted in May for the second time
in three months,
the Federal Reserve said on Friday, and families took a dimmer view of their
economic prospects in early June, signs that the economy’s recovery is on shaky ground.
The new data was the latest in a series of
reports portraying a weak economy that have led analysts to cut growth forecasts
while raising expectations that the Federal Reserve will offer new stimulus
measures.
Until recently, manufacturing had been a buttress for the nation’s
economy, helping it resist headwinds from Europe’s snowballing debt crisis.
But in May, factory output shrank 0.4 percent, with plants producing fewer
cars and less machinery, Federal Reserve data showed.
“It’s more convincing
evidence that the economy is stuck in low gear,” said Joe Manimbo, a market
analyst at Travelex Global Business Payments….
Here’s why you want to pay attention. The Obama administration is running out of
time for something to turn around and mean anything. We only have 5 more reports of economic
activity before the election and you need about three months to make a case that the momentum is there.
5. What happens if Greece Leaves the Euro Zone?
ACT I
What would Greece's exit look like?
In the worst case, it starts off messy.
The government resurrects the drachma, the currency Greece used before the euro, and says each
drachma equals one euro. But currency markets would treat it differently.
Banks' foreign-exchange experts expect the drachma would plunge to half the
value of the euro soon after its debut.
For Greeks, that would likely mean surging inflation _ 35
percent in the first year,
according to some estimates. The country is a net importer and would have to
pay more for oil, medical equipment and anything else it imports.
Greece's government and banks
currently survive on international loans, and if it dropped the euro, the
country would probably be locked out of lending markets, says Athanasios
Vamvakidis, foreign-exchange strategist at Bank of America-Merrill Lynch in
London. So the Greek central bank would
need to print more drachmas to make up for what it could no longer borrow from
abroad.
That's one reason analysts say the
switch to a drachma would lead the country to default on its government debt,
possibly triggering losses for the European Central Bank and other
international lenders.
Most assume foreign banks would have to write off loans to
Greek businesses, too. Why would Greeks pay off foreign
debts that effectively double when the drachma drops by half?
Say a small shop owner in Athens has
a (EURO)50,000 business loan from a French bank. She also has (EURO)50,000 in
savings in a Greek bank. The Greek government turns her savings into 50,000
drachma.
If the new currency fell by 50
percent to the euro as expected, her savings would suddenly be worth
(EURO)25,000. But she would still owe (EURO)50,000 to the French bank.
European banks would take a direct
blow. They've managed to shed much of their Greek debt but still held $65
billion, mainly in loans to Greek corporations, at the end of last year,
according to an analysis by Nomura, a financial services company. French banks have the most to lose….
Keep reading because this is a big deal.
6. Is Obama being
treated more disrespectfully by Reporters that white Presidents?
Apparently, not really.
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