China Warns United States: Stop Printing Money; Situation May Cause U.S. Loss Of AAA Rating

I find it very disturbing that major news outlets here in the United States are not following this story more closely. Perhaps because to do so would mean casting Obama and his cronies in a negative light.

The story is that in order to finance the massive debt we are running up (5 times larger than what the Bush Administration ran up) we are prining money at a break-neck pace. And it is causing concern among those who are floating our debt right now, namely, the Chinese government.

From the Telegraph UK:

Richard Fisher, president of the Dallas Federal Reserve Bank, said: “Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature.”

“I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States,” he told the Wall Street Journal.

What happens when the Chinese call us on these loans? We won’t be able to pay and our monetary systems collaspses.

More:

Mr. Fisher, the Fed’s leading hawk, was a fierce opponent of the original decision to buy Treasury debt, fearing that it would lead to a blurring of the line between fiscal and monetary policy – and could all too easily degenerate into Argentine-style financing of uncontrolled spending.

I think we are already at the “uncontrolled spending” stage with the Democrats feverishly trying to squander our children’s and grand-children’s future by saddling them with huge debts and liabilities in order to waste money on ear-mark and pork projects now.

The Oxford-educated Mr. Fisher, an outspoken free-marketer and believer in the Schumpeterian process of “creative destruction”, has been running a fervent campaign to alert Americans to the “very big hole” in unfunded pension and health-care liabilities built up by a careless political class over the years.

“We at the Dallas Fed believe the total is over $99 trillion,” he said in February.

“This situation is of your own creation. When you berate your representatives or senators or presidents for the mess we are in, you are really berating yourself. You elect them,” he said.

His warning comes amid growing fears that America could lose its AAA sovereign rating.

Massive spending will not get us out of this. Nor will increasing the size of the government. In fact, those two actions in tandem will cause the situation to get worse and worse which is precisely why the United States is in danger of losing the AAA sovereign rating.

You can access the complete article on-line here:

China Warns Federal Reserve Over ‘Printing Money’
Ambrose Evans-Pritchard
Telegraph UK
May 27, 2009

North Korea Nuclear Crisis Raises Tensions

Just a week or so ago, Barack Obama pledged to begin a unilateral scrapping of our nuclear weapons. Since then, North Korea has been taking some very provocative steps. Again, I have to wonder if North Korea’s actions were calculated based based on Obama’s stance and words.

Now, the situation has become worse. North Korea announced that it was pulling out of the treaty that ended the Korean War more than 50 years ago. This has lead to heightened tensions in the region and U.S. and South Korean troops have gone on high alert.

Apparently, North Korea sees our efforts at controlling nuclear proliferation and preventing terrorists from getting their hands on a nuclear weapon as an “act of war.”

From BBC News:

Pyongyang has blamed its decision on South Korea’s decision to join a US-led initiative to search ships for nuclear weapons, calling it a “declaration of war”.

“Any hostile act against our peaceful vessels, including search and seizure, will be considered an unpardonable infringement on our sovereignty,” said a spokesman for the North’s army.

“We will immediately respond with a powerful military strike.”

So, how does the Obama administration respond to this? Read what Secretary of State Hillary Clinton did:

US Secretary of State Hillary Clinton condemned the North’s violation of Security Council resolutions, but also held out hope that North Korea would return to six-nation disarmament talks.

I’m sure that the communists in Pyongyang are quaking with fear over Clinton’s statement. The truth is that with a President who is weak on national security and even weaker on dealing with rogue nations seeking nuclear weapons, North Korea and Iran have become emboldened in their actions.

The longer Obama and company maintain a weak dispostition towards DPRK and the Islamic Republic, the closer we will come to having a nuke snuck into our country and detonated.

You can access the complete story on-line here:

Alert Level Raised On North Korea
BBC News
May 28, 2009

North Korea Tests Nukes And Iran Deploys Bluewater Navy

I’d bet my next paycheck that back during the 2008 Presidential Campaign, when Barack Obama pledged to sit down with Iran without any pre-condidtions, that the governments of Iran and North Korea were listening very intently even if the voters who voted for Barack Obama were not.

In fact, recent developments lead me to believe that the governments of Iran and North Korea took their current actions precisely because of what Obama promised.

First, North Korea tested more nukes and the missiles necessary to deliver them, most likely as a test of the how strongly the Obama administration would respond. From Reuters:

The nuclear test was a major diplomatic challenge to Obama at a time when he is facing a global economic crisis and working to curb Iran’s nuclear enrichment program, which the West fears is aimed at producing nuclear arms but Tehran says is for energy.

Obama vowed when he took office to extend a hand to troublesome countries “willing to unclench your fist” but so far he has had little success with North Korea or Iran, which have continued to advance their nuclear programs and showed little interest in renewed dialogue.

And then the Iranians decided to flex their naval “muscle” in the Gulf of Aden, yet another test of Obama’s resolve to stand-up to regimes that oppose the goals of the United States. From Fox News:

The deployment is “a signal of military strength, resolve and continued defiance to U.S. and U.N. Security Council efforts to end the impasse over Iran’s nuclear program,” said Jim Phillips, senior fellow for Middle Eastern Affairs at the Heritage Institute.

“What’s very important here is the timing of this move — and this naval muscle flexing comes after Iran’s missile test earlier this week, which was saber rattling that was meant to send the same signal as this naval dispatch.”

Phillips said Ahmadinejad was using the opportunity to thumb his nose at the U.S. and U.N. to advance his own popularity in Iran ahead of the country’s hotly contested June 12 election.

A coincidence that these things are happening on the watch of an American President whose international policies are soft on terror? I think not. These were calculated moves. It now remains to be seen whether or not Obama has his nation’s best interests at heart, or the interests of those who want to see the U.S. weakened and even attacked again.

I’m willing to bet that Obama will put politics above the national interest.

You can access both articles on-line here:

Obama Says North Korea Nuclear Test A “Grave Concern”
David Alexander
Reuters
May 25, 2009

Iran Sends 6 Warships To International Waters In ‘Saber Rattling’ Move
Fox News (from Reuters)
May 25, 2009

Memorial Day – Remember The Fallen Who Purchased Your Freedom With Their Lives

memorial-day-tombstones-2

Former Gitmo Inmates Returning To Terrorism; Obama Administration Supresses Report

Here is something that every American should be aware of when it comes to the issue of releasing terrorists back in the world. A report describing how these former detainees are going back to militant and radical terrorist groups was supposed to be released back on February 2, 2009. It has not yet been released and according to the New York Times, Obama administration officials were the ones behind keeping the report under wraps:

The Pentagon promised in January that the latest report would be released soon, but Bryan Whitman, a Pentagon spokesman, said this week that the findings were still “under review.”

Two administration officials who spoke on condition of anonymity said the report was being held up by Defense Department employees fearful of upsetting the White House, at a time when even Congressional Democrats have begun to show misgivings over Mr. Obama’s plan to close Guantánamo.

And writing for the Weekly Standard, Thomas Joscelyn has this:

But the contents of the report deal with a hotly contested issue–one that is being debated throughout the media and is not going away any time soon. Therefore, the public has a right to know the facts and evidence accumulated by the DOD regardless of the implications for the Obama administration.

This is especially true because the Pentagon had previously released a similar report on June 13, 2008. The report we’ve been expecting since earlier this year, and which only the New York Times now has a copy, is merely an update of that June 2008 report, which is freely available online. There is no good reason the updated report, as well as further updates, cannot be released in a similar fashion.

Indeed, the differences between the June 2008 report and its successors are especially troubling. Perhaps those differences explain why an updated version of the June 2008 report would be especially problematic for the Obama administration as it attempts to close Gitmo.

The June 13, 2008, report noted that 37 former detainees were “confirmed or suspected” of returning to terrorism. On January 13, 2009, seven months later, Pentagon spokesman Geoff Morrell said that number had climbed to 61. Now, according to the Times, the DOD has found that same metric has risen further to 74–exactly double the Pentagon’s estimate just 11 months ago.

Critics point out that even with 74 recidivists the total number of former detainees who have returned to terrorism is “only” 14 percent of the 534 total detainees who have been released from Guantanamo. But this ignores the fact, as explained above, that the recidivism rate is continuously increasing.

And what would be the main reason for this recidivism rate increase? Simple. Terrorists no longer fear what the American government will do to them if captured. No, this didn’t start with the Obama administration.

Democrats had been working to undermine the anti-terrorism efforts of the Bush administration long before Obama got elected. Those efforts are now paying off for the terrorists who see a Democrat-controlled U.S. government that is weak on terrorists, but hard on those who would protect us from terrorists.

Not only have the Democrats been undermining those would who protect us from terrorists, but they are also undermining our security by pretending that such terrorists are not that big of a threat to us. Hence, the supressed report.

Any Democrats reading this blog can feel free to defend their party by commenting on this post.

You can access the original Weekly Standard article on-line here:

See No Evil
Thomas Joscelyn
The Weekly Standard
May 20, 2009

And you can access the original New York Times article on-line here:

Later Terror Link Cited for 1 in 7 Freed Detainees
Elizabeth Bumiller
New York Times
May 20, 2009

Democrat Admits On Tape That ‘Cap and Trade’ Is Really A ‘Huge Tax’

Check out the video at the following link. If there was any question that the libs were using the global warming issue as a means for taking greater control over our lives and livelihoods, that question has now been answered:

Democrat Admits On Tape That “Cap & Trade Is A Huge Tax”
912 Project
April 25, 2009

Airlines Are Hiring Mechanics Who Can’t Speak English Or Even Read The Maintenance Manuals

If you’ve never had a fear of flying before, you ought to consider developing one now. Here we have yet another impact of illegal immigration, not only on our economy, but on the safety of travelers who fly our major airlines.

From Fox News:

Aircraft repair requires even experienced mechanics to frequently consult manuals that are written in English and leave a detailed record of what repairs they have made, according to WFAA-TV.

Still, hundreds of mechanics working in the more than 236 FAA-certified aircraft repair stations in Texas were not familiar enough with the English language to even read the manuals that coincide with the kinds of planes they were expected to fix, WFAA reported.

“There are people [where I work] who do not know how to read maintenance manuals as they are spelled out, because they don’t have a clue,” one Texas aircraft mechanic told the station.

But hiring a certified mechanic in Texas costs upwards of $25 an hour, compared to the less than $10 technicians who can’t speak English will do the work for.

So, allowing illegals to come in and depress the wages of legitimate American mechanics is more important than the safety of airline passengers?

One thing you can be sure of. The next airline crash that occurs here in the U.S. is going to be followed by lawsuits from victims families demanding to know if the plane had been serviced by illegals who couldn’t speak English.

You can access the Fox news story on-line here:

Report: Airlines Are Hiring Mechanics Who Can’t Speak English, Read Manuals
Fox News
May 19, 2009

You can access the WFAA report on-line here:

News 8 Investigates: Airline Mechanics Who Can’t Read English (Video Included)
Byron Harris
WFAA Dallas/Ft. Worth
May 16, 2009