Obama Protocol Office Ticks Off Norwegians – Guardian – Obama Planning Big Bow at Copenhagen – Sovereign Debt Problems – Jobless Claims Rise – CitizenWells has a Question for Rush Limbaugh – The BOPAC Report

The BOPAC Report

ObamaNomics –

 

Obamanomics - It's a Crap Shoot! Sovereign Debt Worries, Cap and Trade, & Healthcare Colliding to Sink America!

No place to hide.  It’s been an interesting week in the world of economics with Greece and Spain having their sovereign credit ratings downgraded.  This comes on the heels of the United States and Britain being warned that their deficits put them in jeopardy of having their rating downgraded soon.

The news of Spain and Greece’s troubles did help to prop-up the dollar while the world decides where is it safe to put their money.  Just to let everyone know, there’s no place to hide.   When bond yields rise, stocks generally have pressure to rise because of the understanding that the U.S. will soon not be able to pay even the interest on its debt.  The thinking must be that it’s better to own part of real companies rather than invest in U.S. treasuries.

A rise in stocks on a falling dollar can also be because businesses exporting can reap the benefits in terms of overseas sales.  However, this kind of rise can only have a short-term bump because the falling dollars makes everything more expensive for Americans who are already struggling.

Wheelers and dealers are buying and selling on profit potentials today and not thinking about tomorrow. 

The dollar is stable only for the short term as the fundamentals are horrible and unsustainable.  And what is the Obama Administration and Democrats doing?  They are throwing gas on the fire by proposing even more unsustainable debt in the form of a socialist healthcare system and planning even more disincentives for business create jobs through taxes via Cap & Trade, healthcare, and the TARP political slush fund. 

Stocks are not necessarily going to be a safe haven if Cap and Tax & Healthcare go through.  The proposed Democrat Healthcare is being crafted for political reasons to drive private insurance companies out of business and create a dependent voting block.  This is going to further harm the economy by throwing millions more unemployed in the system putting greater pressure for downgrading the U.S. credit rating because of less tax revenue and greater spending on unemployment expenses.  How many more unemployed will be created by Cap and Tax drive coal reliant businesses under? 

The increased unemployment will create more mortgage foreclosures that will impact stock values via financials investments.  Car sales will be inhibited because there will be no ability for millions to obtain or pay for credit.  Millions of people will only be able to afford clunkers – forget about being able to afford hybrids.

Raising taxes on those who create jobs will either cause greater unemployment or the increases will be passed on to consumers who will be put even further behind the eight ball.  Many possible employers may get a belly full of Obama’s involvement in business and just throw their hands up and retire.

I fear this can only spiral out of control.  Gold and property (if local governments don’t over tax it) may be the only places for any security. This makes the 2010 elections critical to show the world that we are serious about getting a handle on our debt and returning to a strong dollar.

From the WSJ:

Sovereign Debt Is the Next Big Worry DECEMBER 9, 2009, 4:21 P.M. ET

By MICHAEL CASEY

NEW YORK — If you’re looking for one global risk to really worry about, look no further than the mountain of debt accumulated by governments in their efforts to support domestic economies.

Moody’s Investors Service says there’s $49.5 trillion of sovereign debt outstanding — and this week, ratings firms, and some jumpy bond traders, have shone a glaring light on it.

The raters are worried that governments’ massive deficit-spending campaigns to pull their economies out of last year’s crisis won’t produce enough economic growth to pay for itself.

But none of this is new. A month ago, the International Monetary Fund projected that the average debt-to-gross domestic product ratio of the 10 advanced country members of the Group of 20 developing and developed nations would mushroom to 118% by 2014. Such numbers have led some pundits to warn of a debt crisis, especially regarding the U.S.’s dependence on foreign creditors.

What’s key now is that the recent market jitters could be self-fulfilling. Falling bond prices mean higher yields, which makes it harder for governments to refinance future obligations. That will hurt the currencies of those nations and will challenge fixed exchange rate regimes — especially in the euro zone and for currencies pegged to the dollar.

Spain became the latest flashpoint Wednesday when Standard Poor’s changed the outlook on its AA+ rating to negative. As it did when it downgraded Portugal’s outlook Monday, S&P emphasized a weak growth outlook.

And with their bonds hammered for different reasons, Greece and Dubai’s and Abu Dhabi’s government-controlled entities have similarly seen ratings or outlook downgrades this week.

Also on Tuesday, Moody’s acknowledged two elephants in the room. Although it referred to worst-case scenarios, the agency said the U.S. and the U.K.– whose public debt runs to $12.1 trillion and $1.3 trillion, respectively–could potentially lose their triple-A ratings. …Continue Reading

What was I just saying about a momentary strength of the dollar?

Dollar turns down after jobless claims rise

By Deborah Levine

NEW YORK (MarketWatch) — The dollar came under slight pressure versus major rivals on Thursday after the U.S. Labor Department said jobless claims unexpectedly rose by 17,000 in the latest week to 474,000….Continue Reading

 

Obama Protocol Office News –

 

Teleprompter holds Whitehouse Protocol Classes. Obama preparing for Copenhagen bow!

It seems the Obama protocol office has failed again.  I believe they are going to quickly explain this blunder.  Obama had to go early to practice his big bow before most of the world’s leaders in Copenhagen.

Nobel peace prize: Norwegians incensed over Barack Obama’s snubs

guardian.co.uk, Wednesday 9 December 2009 20.00 GMT

Barack Obama‘s trip to Oslo to pick up his Nobel peace award is in danger of being overshadowed by a row over the cancellation of a series of events normally attended by the prizewinner.

Norwegians are incensed over what they view as his shabby response to the prize by cutting short his visit.

The White House has cancelled many of the events peace prize laureates traditionally submit to, including a dinner with the Norwegian Nobel committee, a press conference, a television interview, appearances at a children’s event promoting peace and a music concert, as well as a visit to an exhibition in his honour at the Nobel peace centre.

He has also turned down a lunch invitation from the King of Norway.

According to a poll published by the daily tabloid VG, 44% of Norwegians believe it was rude of Obama to cancel his scheduled lunch with King Harald, with only 34% saying they believe it was acceptable….Continue Reading

Natural Born Citizen Issue

Just like Obama is not Malcolm X - Obama is not a "Natural Born Citizen"! Obama may look like Malcolm X and Obama may be a "Citizen"; but being a "Citizen" does not necessarily mean that Obama is a "Natural Born Citizen"! CitizenWells has a Question for Rush Limbaugh!

CitizenWells has a question for Rush Limbaugh today!

Rush Limbaugh, Simple question, Citizen Wells challenge, Obama birth certificate, US Constitution, Sarah Palin, Sean Hannity, Birth certificate fair question, Obama attorneys, Why Obama avoids

December 10, 2009

Sarah Palin, Alaska Governor, Vice Presidential Candidate, author and rookie journalist said that Barack Obama’s birth certificate is a fair question.

“Palin Says Obama Birth certificate is Fair Question”
“Sarah Palin on the Rusty Humphreis Show discussing Obama’s birth certificate. She argues that just as she showed trigs birth certificate Obama should have to show his.”….

….

To: Rush Limbaugh

From: Citizen Wells
We are not asking you to delve deep into legal matters, into court cases, into legal precedents or definitions. We are simply asking you to ask the question that a fifth grader could ask and answer.

 
The question is why?

“1. Barack Obama has employed a legion of private and government attorneys to prevent revealing his country of birth. Innocent and eligible persons seeking the office of president do not do that.”

Read Complete Article and View Videos Here

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