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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (87448)	7/12/2010 4:22:19 PM
From: TimF	2 Recommendations Read Replies (2) \| Respond to of 224748

Obama awards $1.45 billion loan guarantee to company promising 85 jobs During his weekly address to the nation over the Fourth of July weekend, President Obama announced that the Department of Energy was awarding $2 billion in loan guarantees to two energy companies — Abengoa Solar and Abound Solar Manufacturing. The plan, Obama said, is for the companies to use the money to construct solar plants and panels to power thousands of homes — and create 5,000 jobs in the process. Only about 1,600 of those jobs are slated to be permanent, though, meaning that the total cost to the taxpayer for each permanent job would exceed $1 million. But over the past week, observers have questioned whether even that high figure accurately represents the total cost of the president’s plan. Loan guarantees, unlike outright grants, are essentially promises to pay for the debt obligation of a borrower. Because they typically do not appear in the federal budget until after the government has to pay for them, and because they often attract companies with limited assets, critics charge that the guarantees obscure risks to the taxpayer and divert funds that could have been used more efficiently. John McCormick at the Weekly Standard asks the $2 billion question: “Why did the government decide to bet hundreds of millions of dollars [on the solar plants]?” “We’re fighting to speed up this recovery and keep the economy growing by all means possible,” the president said in his July 3 address. Clean energy, he said, has the potential to “create whole new industries and hundreds of thousands of new jobs in America.” By all accounts, the president is starting small. Abengoa Solar, which received $1.45 billion from the Department of Energy, admits on its website that it will use the money to build a plant in Arizona that will create only 85 permanent jobs. The company appeared to attempt to soften the news by estimating that “98 percent of the jobs…will be American jobs.” So, too, did the president: “After years of watching companies build things and create jobs overseas, its good news that we’ve attracted a company to our shores to build a plant and create jobs here in America,” he said. But years of watching a certain executive at Abound Solar Manufacturing, the company that received the other loan guarantee from the Department of Energy, have been less than encouraging: Russell Kanjorski, the vice president for marketing at Abound Solar, was one of the principals in another energy company in northeast Pennsylvania, called Cornerstone Technologies LLC, which attracted $9 million in federal grants before it halted operations in 2003 and later filed for Chapter 7 bankruptcy. As reported by the Wilkes-Barre Times Leader, “Cornerstone reported $14,100 in assets compared with $1.34 million in debt” in its bankruptcy filing. The $9 million in federal grants to Cornerstone were earmarked by Kanjorski’s uncle, Representative Paul Kanjorski of Pennsylvania, chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. The incident does not appear to have dampened Kanjorski’s enthusiasm for clean energy loans like the ones awarded by the president earlier this month. “Paul supported legislation that passed the House in December to authorize billions of dollars for research into sustainable energy sources such as wind energy, biofuels, and solar energy,” the congressman’s website reads. dailycaller.com

To: chartseer who wrote (87448)	7/12/2010 4:56:22 PM
From: lorne	Respond to of 224748

'U.S. dollars burn while Obama fiddles' Author says 'global currency robbery' done 'with a few keystrokes' July 09, 2010 © 2010 WorldNetDaily wnd.com "Legend has it that Nero fiddled while Rome burned; now President Obama is fiddling or diddling or whatever he does while the whole world meets at the United Nations to burn the dollar down to forty percent of its current value." With these words Lee Troxler launched into an impassioned defense of the American dollar at the annual FreedomFest conference where he was speaking on his new book, "Killing Wealth, Freeing Wealth." "Does the dollar's value matter?" Troxler asked. "Damn right it does! How much will your life change when suddenly, almost overnight, you're only getting forty cents on every dollar purchase?" Troxler isn't just crowing. He and co-author Floyd Brown predicted this torching of the dollar, as well as the consequences that are still ahead, in their just-released book. On page 127 they conjured a future blogpost: "The Great Train Robbery was done on horse. The Baker Street Bank Robbery was done by tunnel. The Global Currency Robbery was done with a few keystrokes. Just as U.S. investors sensed recovery and returned to dollar-based investments, the conspirators moved on every course. They dumped the dollar so fast they collapsed it. Worth about forty cents now. Shouts of joy circle the globe. Tabloids trumpet 'END OF YANK $$$ LARCENY.' Global transactions now pegged to a basket of currencies – yen, euros, yuan and dollars in roughly equal portions. Big losers? Suckers holding U.S. dollars. Big winners? Cads known as Killionaires ..." True enough, in meetings over the last two weeks at the United Nations, one country after another has been lining up to abandon the U.S. dollar as the world's reserve currency. That's step one. Step two is to replace the dollar with a basket of currencies. And what did Obama's U.N. representative, Susan Rice, have to say about this? Apparently very little. We scoured the media for an official position from her, but found nothing of note. That is consistent with her boss's considered opinion that a "one-world government" is in the best interests of the United States. We'll see how many Americans agree when the dollars turn to ash. "It’s actually a bit imprecise to say that Obama fiddles while the world abandons the dollar," Troxler adds. "Team Obama is actually cheerleading the bonfire. Harvard economist Joseph Stiglitz has advised Obama's council of economic advisers and he is the chief proponent of replacing the dollar with a basket of currencies."

To: chartseer who wrote (87448)	7/13/2010 4:14:59 PM
From: chartseer	Respond to of 224748

oh bummer! four x's plotted today! Is the market telling us that the dumasrats days are nearing an end? Do we break the new those chicago politicians in the white house running and ruining the nation and it's economy bear market of 2010 before it even started? What to do? What to do? stockcharts.com Don't worry! be happy! the stupid hopeless comrade charseer in the new era of those chicago politicians in the white house who are running and ruining the nation and it's economy just as osama which rhymes with obama vowed to do.