| Geithner |
[Feb. 24th, 2012|02:35 pm] |
http://video.cnbc.com/gallery/?video=3000075146
VIRAL NOTES: Tax Cheat Timmy is as big a liar as any of the rest of Obama's regime. Let's cut through this foggy wall of lies and BS.
First, Geithner blames rising oil prices on "growth" in a strengthening economy, and Iran. He says there are no quick fixes or short term fixes. He recommends driving more fuel-efficient vehicles and cutting the payroll taxes. This is the biggest load of horse crap I've heard in quite some time. He's no good at financial matters (he's a tax cheat, and claimed he couldn't understand Turbo Tax, remember?), and he's certainly no good at geopolitics or anything that even rhymes with economics. Obama, himself, has admitted that, once again, he's been lying, and that we are not in any sort of recovery. The economy is not getting 'stronger', by any means, and he, himself [Obama] acknowledged this in a letter that the LEC (Liberal Entertainment Complex) refuses to publish, leaving it to more Conservative outlets to do, for fear of making their Dear Leader look bad in an election season.
http://washingtonexaminer.com/politics/2012/02/privately-president-obama-sees-recovery-1-2-years/268266
Fortunately, people are waking up to his lies, and increasingly reacting with appropriate negativity.
http://weaselzippers.us/2012/02/24/dem-pollster-says-obamas-message-that-the-economy-is-back-on-track-tested-miserably-with-voters-and-produces-disastrous-results/
Statistics show that our [America's] per-capita government incurred debt is worse than that of Greece.
http://weaselzippers.us/2012/02/23/obamanomics-americas-per-capita-government-debt-worse-than-greece/
Where, in that chart, in those statistics, does it reflect a growing economy, here or abroad? Geithner can't believe what he said, himself, because if he did, he's just a complete moron. I hope he made a buffoon out of himself on cable television, just for the sake of perpetuating what he knows to be outright lies and total, transparent propaganda. The crux of Geithner's explanation as to rising crude prices is that global productivity is increasing, and hence, there is a greater demand for oil, and diminishing supplies on hand. Actually saying this with a straight face means Geithner really takes the American public for fools, when it is, in fact, he that is the village idiot.
He claims the Obama regime is making an effort to increase and expand oil exploration, and to acquire more oil from nations like Saudi Arabia. For one, oil production, under, and thanks to, the Obama regime, is down 40%.
http://blog.heritage.org/2012/01/18/under-obama-oil-and-gas-production-on-federal-lands-is-down-40/
This is the same president that illegally and un-Constitutionally took it upon himself to institute a complete moratorium on oil drilling, and was taken to task on it by a federal judge, who actually found him [Obama] in contempt, and yet was still ignored.
http://www.thegatewaypundit.com/2011/02/obamas-illegal-moratorium-forces-major-drilling-company-to-go-bankrupt/
http://radioviceonline.com/oil-exploration-obama-administration-continues-to-ignore-federal-judges-on-drilling-ban/
This is also the same president that very clearly stated that he wanted Americans to suffer under high gas prices, and that coal, an energy staple would not only see it's mining and utilization intentionally crippled crippled by his politics, but would be facing bankruptcy, as he fought to destroy a major component of America's energy production capability.
True, Iran has been creating problems, and prices have been going up, in part, because of that. They cannot take the lion's share of the blame, though. One misconception is that gold is increasing in value. A single ounce of gold, last year, was nowhere near what it is, now, and that's not because gold is becoming more valuable. Its because the USD [United States Dollar] is weakening. Thanks to things like "quantitative easing" and Obama's constant printing of money, this intentional campaign to lower the value of the USD is continuing to be successful.
http://www.trading-point.com/forex-news-%E2%80%93-why-further-quantitative-easing-will-hurt-the-u-s-dollar-4055
http://www.telegraph.co.uk/finance/comment/liamhalligan/8484530/Americas-reckless-money-printing-could-put-the-world-back-into-crisis.html
The more he [Obama] hurts the economy and the dollar, the lower the USD's buying power, and the more things will cost. Economics can get complicated, but this is not astronautics or electronics engineering. You make a concerted effort to devalue the dollar, and it will be devalued, when means it becomes weaker against other currencies. Iran isn't to blame for this, Obama is. Furthermore, the claim about getting supplies from Saudi Arabia to help in this mess is another big lie. The very same media outlet that Geithner spread this lie on, just days earlier, pre-emptively called him a liar:
The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.
The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.
The draw-down was sharper for the actual amount exported, declining by 440,000 bpd, or 5.6 percent, to come in at 7.364 million bpd, the data also showed. The level would still be similar to exports after a steep ramp-up last June.
http://www.cnbc.com/id/46445698
That doesn't sound like an increase, to me, but it does sound like our supply is being constricted and choked off, contributing to the increase in prices of crude and gasoline, thanks to diminishing supply. Geithner can't find a short term fix, or anything else for that matter, to deal with this, because his brain doesn't wok that way. He's a tax-and-spend liberal, and thinks taxation and spending is the path to success. One way to have fixed this would have been to open areas to drilling, as opposed to closing them:
http://hotair.com/greenroom/archives/2011/04/25/another-drilling-halt-your-taxpayer-funded-regulators-at-work-for-you/
Another way would have been to not hand over America's oil reserves to foreigners.
http://www.businessweek.com/news/2011-03-19/obama-tells-rousseff-u-s-to-be-among-brazil-s-best-customers-.html
http://www.tampabay.com/news/politics/stateroundup/article1085129.ece
Another way he could've done some good is to not have been a crony capitalist, costing 20,000+ American jobs, simply to line the pockets of billionaires that he's got between his back pockets.
http://cofcc.org/2012/01/soros-buffet-to-profit-off-obama-keystone-veto/
Had he not cancelled the Keystone XL Pipeline project, this would've been another source of oil, and a source from a nation that is not out to kill us.
http://www.examiner.com/conservative-in-national/obama-cancels-keystone-xl-pipeline-to-his-own-political-peril
Then, we have Geithner pontificating about cutting things like the payroll tax. That is like shuffling deck chairs on the Titanic. A reduction in a small tax that has a return of only about 20 - 40 bucks a month is nothing, compared to what Americans would gain, if the US government stopped it's out of control spending and eliminated it's unnecessary taxation. Once government is forced to obey the law, and all that spending comes to a halt, virtually all taxes, including the income tax, will disappear. Then, and only then, would we see a "burden" lifted off the Peoples' backs. If Obama were to stop spending, cut taxes, slash regulations and let business do what it does best, that would be the road to economic prosperity. Getting out of the way, and allowing on-shore and offshore drilling, as well as the processing of oil shale would be a major, major factor in expanding energy production, and cutting the cost of fuel. However, they choose the opposite, and as Reagan asked: 'name one nation that has taxed itself into prosperity'. As long as the government doesn't do this, and allow oil prices to skyrocket, the costs of virtually everything will skyrocket with it, ranging from transportation to clothing. Telling people to use 'green' energy sources and buy more fuel efficient cars is just about as useless and stupid as Obama's previous advice:
http://tv.breitbart.com/obamas-answer-to-oil-crisis-inflate-your-tires/
Oil prices spiking through the roof is no indication of "growth", unless you're talking inflation, or something similar. Government intervention is definitely called for in mitigating these oil prices. Don't listen to Geithner's bumper-sticker catch-phrase BS: the Strategic Reserve is something that should only be for the federal government. The federal government should not be holding on to oil for privately held oil interests; they should each have their own 'strategic reserve'. Government intervention should come in the form of obeying their Constitutionally-enumerated powers and limitations, such as their inability to dictate to domestic Private Sector oil corporations if they can, or cannot drill. If oil is on federally-held lands, then you should also consider that the US does not have the Constitutional power to "own" lands. Land is, and should be, held by the states, not Washington D.C. If there are to be any limitations imposed on drilling and hydraulic fracturing for oil shale, it should be an issue to be resolved between the corporation and the actual owners of the land, be it the States or the People [private citizens], not an un-Constitutional bureaucracy like the Environmental "Protection" Agency, and not the Department of the Interior (another bureaucracy of dubious Constitutionality). That is how the government should intervene: by stepping back, and allowing the Private Sector to do it's job: produce goods, services and JOBS. The policies that the current regime pursues against Iran are useless. Even as the flow of petrodollars and trade is constricted, it does nothing to curtail their military...
http://blog.alexanderhiggins.com/2012/02/07/iran-deploys-15000-troops-syria-81931/
...nor their military nuclear weapons programs.
http://www.npr.org/blogs/thetwo-way/2012/02/15/146914119/irans-ahmadinejad-will-announce-key-nuclear-achievements
The sanctions aren't so much a danger to us, as it is a waste of our time. We have the capability to undermine Iran in a much more efficient way, and that is to tap our own oil and natural gas resources, then sell them on the open market, internationally, even to places like the PRC, for prices that undercut all OPEC nations, robbing them of petrodollars, and taking their customers away from them. We would, eventually, if we spend wisely, acquire not only a glut of oil (reducing domestic prices, and prices abroad), but we'd also be able to acquire a glut of money, also known as a budget surplus , as we ended deficit spending and vanquished the national debt, once and for all.
Once again, addressing Geithner's blatant, bald-faced lie about increased energy production:
http://blog.heritage.org/2012/01/18/under-obama-oil-and-gas-production-on-federal-lands-is-down-40/
Then, we move on to Geithner's party-line lie about taxation. Nothing he says is true. They are not simplifying the tax code, they are not encouraging investment, unless this sounds like encouraging investment, to you:
http://www.examiner.com/conservative-in-spokane/obama-reveals-energy-plan-raise-taxes-blame-republicans
http://www.forbes.com/sites/abrambrown/2012/02/22/3-reasons-to-fear-obamas-dividend-tax-increase/
First of all, I said lower or decrease spending. This is an increase. The way to stimulate the economy is not to spend billions to trillions of the taxpayer dollars that you're doing everything in your power to render absolutely worthless...
http://weaselzippers.us/2012/02/16/report-obama-economic-advisers-wanted-1-8-trillion-stimulus-package/
...but to really invest. However, "invest" doesn't mean spend money, either. For the US government to invest in America's economy, again, they have to stop spending so much money, because all that does is cripple it. If we were to stop every single spending program that the Constitution does not make allowances for, reducing taxation to individuals, and reducing that tax to a flat fee (not percentage), we'd have more than enough to pay for legitimate government functions. The rest would be the responsibilities of the States and the Private Sector. Increased responsibility for the Private Sector means increased demand for business and workload, and that translates into an increased demand for workers. This, again, is pretty simple, and easy to understand. THAT's investing in America. The other way to be undertaken in conjunction with that is to eliminate all corporate taxation. If you're going to tax, tax individuals, not corporate entities. The net effect of making the US the lowest in the world for corporate taxes (which would be 0%) would be to sit back and watch the businesses overseas execute an immediate 'abandon ship', and head for America, where they could truly turn a profit. More corporations = more jobs. Less taxes all around = better paychecks that the corporations could actually afford to pay.
Simplifying the tax code is not something the Obama regime has any interest in doing, because it is too interested in taking money out of your pockets, to give to someone else. Itemized deductions should be changed. This would include deletions from the code, simplifications and even additions. For instance, with the soft housing market (something brought about by the DNC), there should be a deduction for mortgages that should be much more significant. I believe that we should be able to deduct from both State and Federal taxes, maybe 50%. That means, we'd be able to get (through a combination of State and Federal returns) everything we've paid out on mortgages back. For an economy that is currently weakened in [large] part due to irresponsible (if not illegal) legislation from the DNC, that would be a shot in the arm, like no other. A lot of properties that are underwater would turn around, very quickly. Banks wouldn't be losing money, either, because of bad loans. When a bank either makes a bad, predatory loan, or is forced into a sub-prime loan by leftist politicking, they lose money when that deal goes South. They're left with a house, and they're not making money on that, unless they can sell it for a profit, or at least break even. That's no guarantee. Allowing the people to write that off would be a step further that the government could take to insure people have enough of [their own] money in their own pockets, and be able to meet these obligations. (Also, the government would have to obey the Constitution, and divest itself of Fanny Mae and Freddie Mac, altogether, rendering them 100% privately funded institutions.) Other deductions? Medical expenses, with the same parameters as mortgage deductions. Obama complained and campaigned about how medical expenses were bankrupting people, but his solution was a stupid one, which was to raise the cost of medical expenses.
http://www.atr.org/comprehensive-list-tax-hikes-obamacare-a5758
Broaden the tax base? The best way to do that is to crack down on the tax evaders (like Geithner):
http://biggovernment.com/awrhawkins/2012/02/21/49-5-of-americans-pay-no-federal-income-tax-can-obama-get-that-number-to-51-by-november/
http://hotair.com/archives/2012/01/26/great-news-the-fair-share-administration-owes-over-800000-in-back-taxes/
http://www.thegatewaypundit.com/2011/12/msnbc-star-al-sharpton-owes-irs-2-6-million/
http://www.huffingtonpost.com/2011/08/29/warren-buffett-taxes-berkshire-hathaway_n_941099.html
Until you start those kinds of tax cuts, there is no incentive for people to start building things in America. Look at the iPhone. Its manufactured in China, because its almost impossible to manufacture it, domestically, and still have it be affordable. Tax reform, all-in-all, lies in a return to the Constitution, and it's lesson of fiscal Conservatism. Europe is a leftist continent, through-and-through, and they've even less fiscal responsibility than the US does, but we're certainly heading that way. This is why the US has to enact Constitutional tax reform, involving the elimination of taxes, the cessation of printing money (possibly even removing currency from circulation and destroying it), and ending policies that are intended to hurt our currency and the Private Sector. We also need to stop paying into things like the IMF; the Founding Fathers weren't into foreign aid, and that's precisely what this is, on a terrible, gigantic scale.
Worries about bank proprietary trading thanks to Dodd-Frank are the least of America's worries. I think that the majority of these kinds of regulations should be left to the States, though the federal government through Congress does have the enumerated power to regulate. The address of the Federal Reserve was very cursory and ineffective. What we need to do is get a Congress in there that will not allow this opaque operation to continue. The secrecy must stop, and employees of the Federal Reserve should be directly answerable to Congress, with all their operations annually, or bi-annually, audited, due to the importance of the US economy, and how vital a role the currency plays in that. Criminality should be immediately punished, right up through any members of Congress or the Executive Branch that had any knowledge of these incidents, and failed to act on them.
Addressing foreclosures and the housing market, the government needs to get out of it. The Constitution does not give the government the power to sell houses, give mortgages, etc. Housing and Urban Development is an un-Constitutional bureaucracy, and should be dissolved, and subject to intensive criminal probes. What would go a long way toward "healing" the housing market is returning it to the hands of the People [the individuals] and the Private Sector.
Finally, we have the spending issue. The complete elimination of "entitlement" spending/unfunded liabilities, each and every one of them, would not leave us worrying about cutting spending effectively in a decade, but in a few years. The gap between spending and GDP would widen, significantly, just as there should be. Pontificating about cutting national security, after cutting national security, does nothing to help anyone. Fear mongering about cutting benefits for seniors doesn't do anything. I've already explained how that would work, and I'm sure others have, too. People like Geithner and Obama just won't listen, because they're just plain not smart enough to understand.
I am Virus-X, and I skippy damn approve this message.
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