Dear Readers: I hope the Thanksgiving break was a festive one. Like some of my other favorite pundits, I wanted to take today to draw your attention to some news and posts that may have passed by quickly while we were all on a tryptophan high.
It seems that President Vacation and First Lady Fiesta were snacking and gaming while a good portion of the world went into the crapper. This news and image comes via Tammy Bruce: The Absent President: The World Burns, Obama Plays
One key element that I wanted to highlight from Tammy’s synopsis: FEDS WARN UNEMPLOYMENT RATE COULD DOUBLE GREAT DEPRESSION!!!!
I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then on Wednesday, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.
I highlighted the key sentence. I suspect that the 8% drop test stems from the impending collapse of the Euro, and the fact China’s expanding markets are so closely tied to Europe. The potential impact on the American economy and its banks is the reason I think corruptocrat Barney Frank is not seeking re-election — a rat fleeing a sinking ship.
I had a chat with Professor Athena this morning, as I think the media and the Obama Administration are working in tandem to divert our attention as the the dire nature of this situation. Professor Athena assured me that US Banks were better capitalized and not heavily invested in the Euro. However, we both suspect that Europe will suck the rest of the world into a a whirlpool of fiscal chaos.
Another item that caught my eye this weekend was local. It seems our band of blithering fiscal idiots, known as Occupy San Diego, thinks the most sensible approach to promoting their message is terrorizing women and children. Lipstick Underground has this report, which includes video, on this group invading a Wal-Mart on Black Friday.
What better way to recruit the downtrodden of the 99% than by ruining their best chance to purchase affordable shoes, toys, appliances and clothing…at least that’s what the wing-nuts over at Occupy San Diego think. They filled 75 carts full of product, blocked the check-out aisles, chanted about the evils of low-priced shopping, and left their mess for the shoppers to weave through and employees to clean up. T…
And, as a mother, what horrifies me most, is how they boxed in families during the stunt. One mother with a stroller, a small boy and a baby in her arms, has no where to go. If that was me, I would have been angry and terrified. One wrong move by anyone in that crowd and things would have turned dangerous in a flash.
It’s so bad, even tender-hearted B-Daddy has given up on the Occupoopers.
A beloved friend of the Shrine sent this Wall Street Journal piece detailing more shenanigans related to Climate-Gate:
Last week, 5,000 files of private email correspondence among several of the world’s top climate scientists were anonymously leaked onto the Internet. Like the first “climategate” leak of 2009, the latest release shows top scientists in the field fudging data, conspiring to bully and silence opponents, and displaying far less certainty about the reliability of anthropogenic global warming theory in private than they ever admit in public.
Fellow SLOB Charles Caesar prepped a graphic that sums it nicely:
I wanted to give a shout-out to Beers with Demo today, whose blog mysteriously disappeared this weekend. We suspect hacking. This has sent a chill throughout our pundit pack, and we are making plans to address potential leftist tactics to silence us during the 2012 election cycle.
My title today comes from a quote from President Dwight D. Eisenhower. I suspect the Obama’s would amend it thusly: “Some people deserve champagne and caviar, others beer and hot dogs. We deserve it all.”