Thursday, March 17, 2011

Greenspan Says Massive Government Intervention is to Blame; Some Wisconsin Republican Senators Would Win; US Guns Killing US Border Patrol; Tim Geithner "Quite Open" to Global Reserve Currency Run By IMF; Obama Not in Charge; Obamas in Rio; Japan's Nuclear Energy Program

CNN writes: Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.
Greenspan argued for less government intervention to get the recovery rolling and businesses investing in equipment and plants.  But Greenspan goes further in his criticism of government intervention, also blaming housing programs for having delayed and prolonged foreclosures. He said such efforts have created uncertainty about when the housing market will hit rock bottom, at which point speculators can rush in and start buying up houses.
Public Policy Polling produced a poll for the Daily Kos showing that five of the eight Wisconsin State Senate Republicans would actually beat unidentified Democrat candidates in a Recall matchup.
Redstate reveals: Surveillance video obtained by CBS News shows suspected drug cartel suppliers carrying boxes of weapons to their cars at a Phoenix gun shop. The long boxes shown in the video being loaded in were AK-47-type assault rifles. So it turns out ATF not only allowed it - they videotaped it.
Documents show the inevitable result: The guns that ATF let go began showing up at crime scenes in Mexico. And as ATF stood by watching thousands of weapons hit the streets… the Fast and Furious group supervisor noted the escalating Mexican violence.
One e-mail noted, “958 killed in March 2010 … most violent month since 2005.” The same e-mail notes: “Our subjects purchased 359 firearms during March alone,” including “numerous Barrett .50 caliber rifles.”

The UK Telegraph reveals: US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.
"The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said.  [This is one further example of Obama Administration policies which diminish America.

Politico writes: Democrats in Congress are grappling with a question as they negotiate a spending deal: Who's in charge?
The top two Democratic leaders in the House have twice split on whether to approve short-term government funding bills that cut billions from federal accounts. Senate Democrats haven’t put forward a long-term spending plan that can move through their chamber, and Democrats on both sides of the Capitol say they have no idea where the White House stands or who’s running the show. 
Read more:

The UK Daily Mail writes this about our President: Nuclear crisis in Japan, a civil war in Libya and where is the President? Heading for Rio de Janeiro. 

Much of the trip will be focused on linking partnerships with Latin America, particularly Brazil, to the growth of the U.S. economy.
Mr Obama will also meet on Saturday with corporate executives from both the U.S. and Brazil and then give a speech to a business summit timed for his visit.
Yahoo News writes about the nuclear energy program of Japan: Behind Japan's escalating nuclear crisis sits a scandal-ridden energy industry in a comfy relationship with government regulators often willing to overlook safety lapses. Leaks of radioactive steam and workers contaminated with radiation are just part of the disturbing catalog of accidents that have occurred over the years and been belatedly reported to the public, if at all.
In one case, workers hand-mixed uranium in stainless steel buckets, instead of processing by machine, so the fuel could be reused, exposing hundreds of workers to radiation. Two later died.
"Everything is a secret," said Kei Sugaoka, a former nuclear power plant engineer in Japan who now lives in California. "There's not enough transparency in the industry."
In 1989 Sugaoka received an order that horrified him: edit out footage showing cracks in plant steam pipes in video being submitted to regulators. Sugaoka alerted his superiors in the Tokyo Electric Power Co., but nothing happened. He decided to go public in 2000. Three Tepco executives lost their jobs.;_ylt=AlxcDNiMiFtQtNcYUFw5oWKs0NUE;_ylu=X3oDMTQ4dW1xMzk3BGFzc2V0A2FwLzIwMTEwMzE3L2FzX2phcGFuX2VhcnRocXVha2VfbnVjbGVhcl9zY2FuZGFscwRjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzQEcG9zAzEEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNidW5nbGluZ2NvdmU-

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