Right Pundits

As Democrats so often like to remind Republicans, the election 0f 2012 is over and, basically, they won. In actuality, it was not the Republicans who lost, it was the Democrats who managed not to lose. At the same time, for the past four years, the American people have been losing under Democratic policies. What happens in the next four years will be largely decided in the next six months. Of most concern to us, as it should be to every American, is the vast “fiscal gap” which opened up in 2009 and remains today, virtually undiminished. It is that gap which could potentially swallow the entire country. It is that gap which makes the coming “Fiscal Cliff” look like a minor bump in the road.
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Labor Day 2012 is one for the books as unions prepare for the election in November. In Charlotte, North Carolina, the AFL-CIO will have a ′Hug-A-Thug′ booth at the DNC Convention. Meanwhile, Both Barack Obama and Joe Biden will be spending the day in United Auto Workers country, Obama in Ohio and Biden in Michigan. The will trumpet what they call success in rescuing General Motors, despite the facts that the auto maker still owes tax payers more than $25 Billion dollars and the much vaunted Chevy Volt has been suspended from production due to poor sales. Mitt Romney takes the day off to prep for the debates while Paul Ryan visits Greenville, NC.

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US Treasury Secretary Timothy Geithner will take the hot seat on Capitol Hill today as he is questioned about the ongoing LIBOR scandal. As former head of the New York Federal Reserve Bank, Geithner apparently did not notify banking regulators adequately about the alleged rigging of the London Inter-Bank Offered Rate by Barclays Bank in the UK. The LIBOR rate has been an essential benchmark for setting interest rates on everything from home mortgages and car loans to business and consumer credit. The questions to be raised today in Congressional hearings is what exactly did Geithner know and do in regards to the LIBOR rigging back in 2008? Did Geithner withhold, or even obstruct investigations by the Justice Department and the Commodities Futures Trading Commission at that time?

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Roberto Unger was a professor at the Harvard Law School and taught Barack Obama. A Brazilian politician in his own right, Unger also served Obama as an adviser during the 2008 campaign. But the Daily Mail in the UK reported on Sunday that Unger is not happy with the results thus far of Obama′s first term in office. In a You-Tube video Unger has posted, ′Beyond Obama′, he encourages Obama to be defeated in 2012 for not fulfilling the Progressive agenda enough. Unger is not the first Liberal-Progressive to be critical of Obama for failing to push more Socialism down America′s throat. But once again, we are seeing major cracks within the core of Obama supporters, a situation that is not good with the November elections less than six months away.

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Just when you thought the private sector is ″doing just fine″, hold on to your cash! Moody′s is preparing to hit some 22 banks with downgrades to their bond ratings. The list of banks to be downgraded is impressive. In the United States, Morgan Stanley may get the sharpest downgrade, with its rating cut by 3 notches. Bank of America, Goldman Sachs, JP Morgan Chase, Wells Fargo and Citigroup all face downgrades. A number of European banks are also targeted for downgrades, many of which have already been hit earlier this year. In February, German and Austrian banks felt the pinch, followed by banks in Italy and Spain in the last two months. Moody′s is also downgrading the ratings for more Greek banks as well as two in Cyprus.

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Yes, Fannie Mae is seeking another $4.6 Billion in aid from the Treasury Department. This bailout is to cover its Fourth Quarter losses from 2011, or so claims their chief financial officer, Susan McFarland. So much for the promise of Barack Obama that the Age of Bailouts is over. Freddie Mac will undoubtedly come hat-in-hand seeking more money, too. Meanwhile, a wave of resignations and retirement announcements is hitting Wall Street. Top executives from Bank of America, Goldman Sachs, and other institutions are fleeing the sinking ships. As the price of gold and oil continue to rise, so too has unemployment in Europe, now hitting a new high since 1999 at 10.6%. Spain has a whopping 23.3% unemployment rate! Must be all those green jobs they created! Our own unemployment in the United States is far above the ′official′ numbers reported by the Obama-favoring Media.

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Today is the much anticipated 2012 Michigan GOP primary. Just how important is this election in the State of Michigan? The latest Public Policy Poll, which has been fairly accurate in many of the recent primary games, shows Rick Santorum with 38% to Mitt Romney′s 37%, a very narrow lead. With the margin of error, the Great Lakes State is essentially a toss up. While both candidates opposed the bailouts of the auto companies headquartered in Detroit, Michigan, much more material is being used against Romney who advocated a managed bankruptcy. Several Super PACs, including Barack Obama′s one, Priorities USA Action, have been running ads against Mitt. There is even talk of a plot called Operation Hilarity to get Democrats to cross over and vote for Santorum in today′s open primary. Santorum, himself, has launched a robo-call blitz encouraging Democrats to vote for him.

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This week′s book review is of Never Let A Crisis Go To Waste by Bart DePalma, published by B-Squared Press, LLC. If you only have room in your abode, or survival ′go-bag′, for one book about the origins of the housing-financial crisis and the role Barack Obama played in it, then this is THE book! No anti-Obama library is complete without this fascinating review of the history and the true facts behind Barack Obama and all of his friends, associates and inspirations. DePalma takes us from the early days of the SDS, through the intellectual babble from folks like Andre Gorz, Saul Alinsky, Peter Dreier, Cloward and Piven. From the intimidation tactics against banks by ACORN through the federal government′s monster of the Community Reinvestment Act. It all adds up to demonstrate why Barack Obama is indeed a Socialist.

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