Obama administration’s monetary policies a major cause of rising gas prices
Not a surprise to anyone who has taken a graduate level economics class and pays attention, but since that is probably a small slice of the population, let’s review.
The Obama administration’s monetary policies have added approximately 56.5 cents to the price of every gallon of gas you pump, according to a report by members of the congressional Joint Economic Committee.
Estimates suggest that had the dollar maintained the value it had when Obama came into office, gasoline would cost approximately $3.40 per gallon instead of around $4 per gallon in many parts of the country.
Here is the short form for those who haven’t studied macro economics. Oil is traded on the open market with the US dollar being the standard currency used for for that commodity. Our Dear Leader’s monetary policy of just printing money to pay for his massive spending increases ( the so-called “quantitative easing” programs are good examples of this) has caused inflation, which means the US Dollar has less value than it did before. To make this even simpler, things cost more when you buy things using US dollars. Not because the value of the item being purchased has gone up. It is because the amount of goods and services a US Dollar can be traded for has gone down. This includes crude oil. Your dollar is worth less, so you pay more dollars for things like gasoline, a crude oil product.
Fed Chairman Ben Bernanke claimed this printing money scheme would actually “grow the economy.” Fed Chairmen Paul Volcker and Alan Greenspan disagreed, stating that the Obama/Bernake plan would weaken US currency and result in inflation.
Clearly, Volcker and Greenspan were right, and Obama and Bernanke were wrong.
The Obama administration is calling for another round of “”quantitative easing” in spite of the clear and obvious facts of the matter.
Quote of the Day
“The US Constitution. I read it for the Articles.”
What did Maddow know and when did she know it.
Hardly surprising was that MSNBC “commentator” and far left extremist, Rachal Maddow was stanch and aggressive supporter of Rep. Weiner as he lied to the press, his constituents, his staff, his wife and the rest of the world every time he opened his mouth.
Maddow put forth every moonbat conspiracy theory on exactly Weiner was hacked by an evil “vast right wing conspiracy” posted on the DailyKos, every single one of them were empirically proven wrong BTW, as the “Gospel Truth”tm.
Not that Maddow let the actual truth slow her down. She is now trying to down play the whole thing with her sex scandal chart
The real question, however, is “What did Maddow know and when did she know it?
One of Weiner Cyber-Mistresses had contacted the Maddow show back on June 3, 2011. The Maddow show wanted nothing to do with this information. Perhaps if the Cyber-Mistress had said the dirt was on a Republican, the Maddow team would have been all over it. Or was it the last thing they wanted to, ahem, touch was news about a political sex scandal right when the democrat party‘s attack congressman’s online habits were just hitting the news?
Do The Math
Clearly our Dear Leader is hoping you don’t. He claims that “Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch.”
Conn Carrol has done the math for you just in case you are one of those who think that Obamacare will actually reduced health care costs.
Total loaned to Chrysler: $14 billion
Total paid back by Chrysler: $7.56 billion
Total taxpayer loss on the Obama bail out of Chrysler: $6.44 billion
While you can argue if math is not one of our Dear Leader‘s strong points, it is pretty clear that he is betting that it isn’t one of yours.
Yet another example of why Keynesian Economics Is Wrong
Economic Growth Causes Consumer Spending, Not the Other Way
Pay attention to this video and then review the economic polices of our Dear Leader and the Congressional democrats.
A couple of Weinergate updates
First off, the predictable response of the far left extremist spokesperson the democrat party, Debbie Wasserman-Schultz.
This is Wasserman-Schultz stonewalling on WeinerGate, defending her hyper-partisan college Rep. “Crotch Shot” Weiner
Avoid the question, repeat the scripted talking point, no substance, no solution.
Let’s go back not that long ago and see what she had to say when the congressman with the “personal matter” had a ‘R’ after his name.
What I’ve called for is an investigation to be completed within 10 days. And quite honestly, yes, I do think that Denny Hastert should resign . . . I‘d like to see the Republican caucus call upon their leadership, Speaker Hastert, Majority Leader Boehner, to get this resolved quickly. Do it before the election. And I haven‘t heard them say that. They‘re saying have the FBI investigate, have the House Ethics Committee investigate. They need to push their leadership to get this resolved so that they can move on, and we can make sure that we can restore the trust that they have shaken the public in Congress.
A predicable, partisan based double standard.
HT to Legal Insurrection for this one.
The second item comes via the Talk Straight blog.
File this under “Are we seeing a pattern here?”
In 2008, Rep. Weiner introduced a bill that would create 1,000 new visa slots for foreign fashion models. Specifically European fashion models for NYC’s Fashion Week. This was also known as the “increasing the number of Euro-Hotties in my district” bill.
Update: Rep. Weiner just held a press conference where he admitted to everything! The picture was of him, he sent it and this wasn’t the only case!
Of course, the leftists are still blaming Andrew Breitbart in the face of Weiner’s confession. Rep. Weiner also says the won’t resign. He will also get the support of the DNC leadership, who in their blatant hypocrisy, have called for anybody in a similar situation, but with a ‘R’ after his name to either resign immediately, or have their leadership remove him from office.
Kudos to Rep. Weiner for being honest when trapped and cornered by the truth. That does put him heads and shoulders above many of his democrat congressional colleagues.
How to help balance government budgets, get liberals to pay their taxes
In yet another example of a leftist not paying their ‘fair share’ of taxes, we have Irish pop star Bono.
Bono, who is famous for “contributing to global warming” by flying around the globe in private jets, in his never ending quest for people to give their money to causes he believes in.
Well, it seems that Bono doesn’t believe in the Irish government, because he has restructured his business to avoid paying taxes in Ireland. Yes, Bono, and the rest of the pop band U2, are behaving just like the “greedy corporations” that their fans protest against.
Another example of the “tolerant” left
Sydney Morning Herald columnist Richard Glover is calling for anyone who disagrees with his Luddite views on “man made” global warming to be forcibly tattooed against their will.
“Surely it’s time for climate-change deniers to have their opinions forcibly tattooed on their bodies.
Not necessarily on the forehead; I’m a reasonable man. Just something along their arm or across their chest…”
Yup, another example of how there is nothing quite so intolerant and closed-minded than a “tolerant and open minded liberal.”
Probably closer to the truth here is the maxim, “Scratch a liberal and you’ll find a fascist.”
Moving beyond “Blame Bush”
Now that his term in office is more than half over, our Dear Leader has finally managed to find someone else to blame for the poor economic performance the nation has been inflicted with since he and the democrats assumed power over the legislative and executive branches of government.
Not that he and his loyal minions are are going to stop blaming George W. Bush, they proved that yesterday after unemployment “unexpectedly” spiked back over 9% once again during the Obama Regime. At least he is branching out now.
During his weekly radio address yesterday, our Dear Leader raised some trial balloons that place the blame of the dismal Obama Economy on the Europeans and the Japanese.
Yup, it’s clearly the fault of Japanese and Europeans, not his dangerous addiction to the emperically discredited Keynesian economic theories. Yup, the American people clearly knew what they were doing when they elected a man who managed to go $300,000 in debt on an annual household income of just over $500,000 a year. OK, I’ll give the American people a pass on that one, since I’m betting the vast majority of voters who get their “news” from MSN sources like MSNBC, the NY Times, CNN or CBS News never heard that interesting, yet highly relevant fact.
For how well a sample of potential voters are ‘educated’ by the MSM, let’s roll some video.
I’m concerned that a vast majority of those who voted for our Dear Leader appear to absolutely no clue as to what a Keynesian is. Once again, let’s check the video.
OK, say we cut them slack on Keynesian theory, most people don’t know much about economics. This video shows a sample of Obama voters and quizzes them on some basic political knowledge. What is more interesting than what they don’t know is what they do know, and what they think they know.
Six Things The Mainstream Media Would Say About Obama If He Were A Republican
John Hawkins wrote this list in an article at TownHall.com. Go there for the details on each item. OK, sure, there are obviously more than six, but it’s good start.
1. This guy is way too stupid to be President of the United States!
Ok, this one is going to drive the Moonbats crazy since their religion is based on our Dear Leader being a “super-genius”, but seriously, check just about anything he says without a teleprompter. Plus, why are all of his college transcripts sealed? What is he hiding?
2. Obama’s an amateurish cowboy who’s wrecking our image around the world! Obama’s an amateurish cowboy who’s wrecking our image around the world!
3. Obama’s going to bankrupt the country by giving our money to his corporate cronies!
4. He’s the job-killing, gas-price-raising, economy-wrecking President!
5. Obama’s not an authentic black man.
I can hear the left’s shouts of “Racism” already. Stop and take a look at what Leftists say about any Black conservative. Pretty consistent with what Mr. Hawkins is proposing, and that isn’t counting the vile, racist slurs the left uses.
6. He’s an arrogant jerk who cares about no one but himself!
The number of full rounds of golf since taking office are current in the mid 90s.