To listen to our MSM, it sure is…unemployment isn’t rising as fast as it was, things aren’t as bad as some predicted…you know, the whole slew of things which tend to indicate a boom is right around the corner, right? Well, no. In fact, the sort of economic news we’re getting today would be painted in stark, hideous terms…if a Republican were in the White House. Since this is the Age of Obamunism, the party line is that things are double-plus-good while un-good news is down the Memory Hole. Here’s a story to indicate that things are, in fact, continuing to get worse:

This morning, Fannie Mae (FNM) announced that it had lost another $23 billion in the quarter, and would have to call down $19 billion more in taxpayer support. It also said that it would face losses as far as the eye can see.

Do you know how much we’ve committed to backstopping Fannie and its partner-in-crime Freddie Mac (FRE)? $400 BILLION! Back in February that was doubled from the original $200 billion.

But the news of the quarterly loss is getting hardly any attention. Nothing here at the NYT business section, for example. Nothing at the blogs that were going nuts when AIG was revealed to have paid out bonuses back in March.

The problem is that the Fannie and Freddie disasters don’t fit into any conventional media narrative…

And neither does such things as the continuing rapid collapse of home values in, say, Las Vegas. I figure my $400,000 home is now worth about $125,000, in theory. The “in theory” bit is because I don’t think I could actually sell my home if I had to put it on the market – sure, homes are being sold in Las Vegas but they are invariably foreclosed homes and they are going for a song. No one is going to buy my house when a better, larger house can be had on “please take this off my hands” terms. Fannie and Freddie, of course, are integral to the housing business and thus the $23 billion loss last quarter and the projected, un-ending losses to come tell the true story of our economy. Its collapsed, boys and girls…we’re not trying for a soft landing, we’re not trying to turn things around…we’re just masturbating economically while the Fed fires up the printing presses and Obama begs the Chinese to buy US bonds.

I can already hear our liberal friends – “no! You have to give Obama time! It took Bush 8 years to mess the economy up.” Its impossible to talk a liberal out of his view, given their views are built on invincible ignorance, but I will say this: the problem we’re in is not Obama’s fault but it is the fault of the very sorts of policies that Obama is enacting. In other words, Obama’s prescription for arsenic poisoning is to give us a dose of cyanide. The doctors gave my Dad a blood transfusion a few weeks before he died and for a while there he was looking a lot better – but that sheen of health was temporary as the organism, in its fundamentals, was shut down. We’re shut down – Obama is going to shove some ersatz blood into our system; it might make us glow for a bit, but it won’t change the fundamentals.

We have to cut spending, cut taxes, free up regulation and do all we can to encourage people to make, mine and grow things. We need, not more bridges to nowhere, but more farms, more factories, more mines. And for crying out loud, we don’t need them in the form of corrupt, complacent dinosaurs like GM! We need, in the end, a whole, new economy – all Obama promises us is a blood transfusion into the corpse of the old economy.

Tucked into Obama’s absurdly small budget cuts are a few things which will sting, if enacted:

President Obama voted in the Senate to provide additional funding for a program targeted for elimination by his budget that provides states a federal subsidy to offset the costs of jailing illegal immigrants.

Killing the State Criminal Alien Assistance Program (SCAPP) would save $400 million, according to Obama’s budget for fiscal 2010 released Thursday. It’s one of the largest non-defense discretionary cuts proposed in the president’s budget.

For Obama, this is win, win, win.

If it goes through, he’s able to shore up support in the pro-illegal immigration movement.

If it gets restored, he can still say he tried to stop the program to the pro-illegal immigrant movement while at the same time say he’s signed legislation designed to secure the border.

No matter what happens, its still part of his budget cut amount, so he gets to talk about how me made the “tough choices” on the budget.

Its the act of a dishonest man heading up a dishonest Administration – and thus its a perfect fit for the modern, Democrat party.

When we got on his case about having an “Office of the President-Elect” – going through Dad’s papers, I came across this letter transcribed here:

Office of the President-Elect

Richard M. Nixon

Washington, D.C.

December 2, 1968

Mr. G. Noonan

(Address Redacted)

Dear Mr. Noonan:

As you know, I have pledged to bring into this Administration men and women who by their qualities of youthfulness, judgment, intelligence and creativity, can make significant contributions to our country. I seek the best minds in America to mee the challenges of this rapidly changing world. To find them, I ask for your active participation and assistance.

You, as a leader, are in a position to know and recommend exceptional individuals. The persons you select should complete the enclosed form and return it to you. I ask that you then attach your comments. My staff will carefully review all recommendations for inclusion in our reservoir of talent from which appointments will be made.

I will appreciate greatly, Mr. Noonan, your taking time from your busy schedule to participate in this all-important program.

Sincerely,

Richard M. Nixon

RMN/jww

Enclosures

The family hope is that we didn’t have a hand in recommending anyone eventually convicted. Be that as it may, Obama ain’t the first megalomaniac elected President, it would seem.

Sorry I’m late off the mark, boys and girls, but I wasn’t feeling well last night:

An intellectual is a man who takes more words than necessary to tell more than he knows. – Dwight Eisenhower

Kinda describes the Obama Administration in a nutshell, doesn’t it?

This is the natural result:

The U.S. government is pouring billions into General Motors in hopes of reviving the domestic economy, but when the automaker completes its restructuring plan, many of the company’s new jobs will be filled by workers overseas.

According to an outline the company has been sharing privately with Washington legislators, the number of cars that GM sells in the United States and builds in Mexico, China and South Korea will roughly double.

The proportion of GM cars sold domestically and manufactured in those low-wage countries will rise from 15 percent to 23 percent over the next five years, according to the figures contained in a 12-page presentation offered to lawmakers in response to their questions about overseas production.

You see, if we had allowed GM to go bankrupt and, perhaps, be broken up in to its component parts, the only losers in the deal would have been GM’s senior executives and the corrupt bosses of the UAW. The way of Obamunism, though, is to ensure that the senior executive and corrupt union bosses come out with as little harm as possible. And you pathetic, little liberals actually thought that liberal Democrats were on your side – that is just too cute for words!

Iowahawk strikes again, and I have to quote:

Dave Burge

It’s time to get back on topic on HARDFIRE! Okay Garofalo, you said Fox was behind the resurgence of populist paranoia. Elaborate!

Janeane Garofalo

Just look at all the paranoid teabagger Nuremburg parties. Do you really think those were spontaneous? Here’s how it works. Skull and Bones calls Cheney. Cheney calls Rove. Rove calls O’Reilly. The next thing you know there’s a zombie army of Klansman goosestepping all over the town square of East Bum(expletive deleted), Idaho, looking for tax cuts and lynching trees.

Dave Burge

Are you saying they’re all racist? Even the little kids and old ladies?

Janeane Garofalo

What other possible explanation could there be for opposing Obama? Look, if the white hood fits, wear it. Actually those little kids and old ladies are the probably the worst. Those kids are already hopelessly brainwashed by Fox. You’d be surprised at how many times a day children run from me in terror. And don’t let the sweater vests and Wal-Mart applique jeans fool you, those midwestern nazi grandmas are one snap away from blowing up their mobility scooters in front of a federal building.

Really does mean having a steady aim:

A group of college students said they are lucky to be alive and they’re thanking the quick-thinking of one of their own. Police said a fellow student shot and killed one of two masked me who burst into an apartment.

Channel 2 Action News reporter Tom Jones met with one of the students to talk about the incident.

“Apparently, his intent was to rape and murder us all,” said student Charles Bailey.

Bailey said he thought it was the end of his life and the lives of the 10 people inside his apartment for a birthday party after two masked men with guns burst in through a patio door.

“They just came in and separated the men from the women and said, ‘Give me your wallets and cell phones,’” said George Williams of the College Park Police Department.

Bailey said the gunmen started counting bullets. “The other guy asked how many (bullets) he had. He said he had enough,” said Bailey.

That’s when one student grabbed a gun out of a backpack and shot at the invader who was watching the men. The gunman ran out of the apartment.

The student then ran to the room where the second gunman, identified by police as 23-year-old Calvin Lavant, was holding the women.

“Apparently the guy was getting ready to rape his girlfriend. So he told the girls to get down and he started shooting. The guy jumped out of the window,” said Bailey.

A neighbor heard the shots and heard someone running nearby.

“And I heard someone say, ‘Someone help me. Call the police. Somebody call the police,’” said a neighbor.

The neighbor said she believes it was Lavant, who was found dead near his apartment, only one building away.

Bailey said he is just thankful one student risked his life to keep others alive.

“I think all of us are really cognizant of the fact that we could have all been killed,” said Bailey.

I’ll bet it was the criminal – desperately looking for a way out after coming up snake eyes in the crime lottery. Armed people are free people – and safe people.

Powerline has the disgusting video of people going through a market clearing out all Israeli products. The action takes place, apparently, just down the road from Paris’ holocaust memorial, on the site where 65,000 French Jews were deported to death camps. “Never Again” has turned into “As Soon as We Get the Chance”.

Excellent advice from a rightwing extremist to the current occupant of the White House:

Perhaps one of the most important accomplishments of my administration has been minding my own business. – Calvin Coolidge

…well, quite honestly, against their own:

This afternoon, more than 1,000 students, parents, and concerned citizens gathered across from city hall to rally in support of the D.C. Opportunity Scholarship program. A number of prominent D.C. leaders spoke, including former mayor Anthony Williams and former councilmember Kevin Chavous. But the most moving speeches were from the parents and students participating in the scholarship program. High-school student Carlos Battle spoke about how he was personally working to redefine the image of the black teen in Washington, D.C. — and how the Opportunity Scholarship program was giving him a chance to fulfill his dream. A father of a scholarship student pointed out the hypocrisy of Congress bailing out failing corporations but taking scholarships away from D.C. students.

Indeed. If you follow the link, you’ll see a picture of the demonstrators and you’ll note that they are overwhelmingly black. This is natural – Washington, DC is a heavily African-American city. So African-American is the city that it wracked up an astonishing 93% of its votes for Obama last November. The oddity? It is Obama and his Democrats who are – at the behest of corrupt educationist unions – pulling the plug on this very popular and exceptionally effective program. I wonder if anyone in the crowd – almost certainly ardent Democrats to nearly a man and woman – put two and two together?

Its got to be hard – here is the political party (now led by one of your own!) which has spent decades telling you they care about you and what they are doing is screwing you over. And to add insult to injury, it is this mostly black area which is being screwed over at the behest of mostly-white elites! Nothing so clearly demonstrates that the Democrats are the party of the powerful than their cynical and cruel disregard for this long-suffering community – a community which has poured out its blood and treasure, and is now told to take a hike…but please keep voting 90%+ Democrat.

2010 and beyond will be the battle between the people and the powerful and it is to be hoped that, at long last, African-Americans will come to understand that they have been used. Their “leaders” are mostly the choice of rich, white liberals and the policies put forward are for the benefit of rich, white liberals and their favored black individuals and groups…the average black man or woman means nothing to these Democrats, or to those alleged black leaders. It is time for all people who are ignored by the powerful to band together and take our country back.