Why do the majority of Americans vote in the least qualified candidate? Why did we vote in Bush not once but twice into office? Why did we vote Obama into office? Please listen to what they say, observe at what they have actually done, and improve your decision making process. I really don’t think our economy can take another Bush or Obama in office. Do you?

Stop Wasting America’s Money on Pretend Make-Work Government Programs

by Ron Paul

In January 2009, the administration claimed that if Congress passed a rush stimulus bill, the United States would be saved from economic catastrophe that was threatening to send unemployment figures above 8 percent. Government stimulus was the answer and if we cared about our country, we would set aside our reservations and do what needed to be done to pass the bill. Congress passed the bill. Unemployment continued to go up and has been well over 8 percent ever since. (In fact, economist John Williams of ShadowStats finds unemployment to be closer to 23 percent using traditional methodology.) Yet some are claiming the first stimulus worked and all we need to bring back prosperity is more government stimulus.

Stimulus might appear to work for some people for a short time. It worked for a short time for Solyndra. For a time, they could pretend to be engaging in productive activities that would help the economy. For a time, unemployment was 1,100 people less. But the recent bankruptcy of Solyndra shows that the government is a terrible venture capitalist. This charade cost the American people over half a billion dollars they could not afford, yet there is no mea culpa. The administration is not questioning its calculations, or how they could have been so wrong on their unemployment predictions in the wake of the last stimulus.

Instead, they want more money. Once again we are hearing the cry that if we care about our country, we will approve more spending and more taxes and that will create more jobs. They promise.

Yes, you could have gone to the Solyndra factory and you would have seen jobs. What you could not have seen were the productive jobs that were never created. Real venture capitalists make decisions based not on politics and photo opportunities, but on complex economic estimations of risk and reward. They don’t simply throw piles of other people’s money at a factory and expect magic to happen. The uncreated jobs you can’t see might still be around. Instead, we have more government debt which will lead to more inflation and more taxes. These, in addition to an already hostile regulatory environment, only add to the burden and risk of job creation in the private economy.

It has been said that when all you have is a hammer, everything is a nail. Our government is full of people who sincerely believe big government and more spending is the answer to every problem. They automatically look to government for every solution. Government is their hammer, and all they know to do is to keep hammering. When government “solutions” still don’t solve the problems, they are unfazed. They keep calling for more government, more laws, and more programs. Americans are tired of being treated like nails.

This government-centric mindset is the root of the problem. People who think this way are naturally drawn to politics and government. To them, the Constitution is an annoying road block, something to get around, or ignore.

We must become interested in real, lasting, productive jobs – careers that allow families to build up a solid foundation of prosperity and economic security – not pretend make-work government jobs that waste resources and vanish overnight. We have to choose one or the other.

If you still think he is doing a great job, then you are both ignorant and crazy.

Jon Stewart Obama scandal video

This is why our economy is in the toilet. This is why we need to get our debt spending under control. This is why we have to vote all the incumbents (both parties: Dems and Reps) out of office. They have all failed the American people. We could have literally divided the half billion dollars among all the taxpayers and made better use of it by spending it right back into the local economy.

USA Today:

White House officials on Wednesday defended a decision to award a now-bankrupt solar energy firm a $535 million loan as House Republicans released Obama administration e-mails suggesting that the loan was rushed despite deep internal skepticism about the government investment.

Excerpts of administration e-mails released by the House Energy and Commerce Committee from late August and September 2009 show that White House officials were anxious about the Office of Management and Budget (OMB) timeline for finalizing a loan to Fremont, Calif.-based Solyndra. Vice President Biden was traveling to California when Solyndra was scheduled to hold a groundbreaking on their new facility, and the White House wanted Biden to attend to tout the project as an example of President Obama’s $787 billion stimulus putting America back to work, the e-mails suggest.
Just days before the groundbreaking, the OMB staff wrote in an e-mail that the Solyndra deal should be “notched down” because of a lack of firm performance data on the company’s solar panels and a “weakening world market prices for solar generally.”
“We would prefer to have sufficient time to do our due diligence reviews and have the approval set the date for the announcement rather than the other way around,” said one e-mail from an unnamed OMB aide to Biden’s office.
The groundbreaking went on as planned, with Biden, Energy Secretary Stephen Chu and California’s then-governor, Republican Arnold Schwarzenegger, in attendance.
Obama later visited Solyndra and hailed it as a green energy company that would help lead America’s economic recovery.
Things hardly turned out so rosy. Last month, Solyndra announced it was laying off its 1,100 workers, and it filed for bankruptcy on Sept. 6. Two days after the bankruptcy filing, FBI agents raided the company’s headquarters.
The White House said that the e-mail exchange only showed urgency about a scheduling decision and that the Bush administration initially pursued loaning the money to Solyndra. The Obama administration dispatched senior OMB and Energy officials to a House hearing to defend the White House’s evaluation of Solyndra.
“It’s a disappointing outcome but it comes with the terrain of backing innovative technology,” OMB Deputy Director Jeffrey Zients said.
Rep. Cliff Stearns, R-Fla., noted that Solyndra’s financial troubles became clear just six months after the loan closed when an independent auditor noted “recurring losses from operations” and “negative cash flows.” Stearns, who chairs the House subcommittee on investigations and oversight, said Energy Department correspondence indicated Solyndra was a model for companies that should get stimulus-backed loans.
If so, Stearns said, he is “very concerned” about where the rest of the $10 billion that the Energy Department has left to spend before the Sept. 30 deadline is going.
Committee Republicans have implied the administration failed to conduct due diligence on Solyndra because a major company investor was a foundation controlled by the family of Tulsa billionaire and Obama fundraiser George Kaiser. However, Rep. Henry Waxman, D-Calif., and others say other private investors in Solyndra included Madrone Capital Partners, a venture capital firm tied to the GOP-leaning Walton family, the founders of Wal-Mart.

The reason why banks do this is to manipulate numbers and show they are profitable. They cut their biggest expense which is human resources. It fixes the book short term but hurts the company in the long run since they will not be able to grow. This is not a true profit but just a smoke and mirrors trick.

Now that our same government has decided to crack down on their fraudulent practices, one of the major banks announce they will cut more jobs.  This is after they suckered in Warren Buffett into a $5 billion private investment.  Seriously, if the bank is simply insolvent, the FDIC needs to step in and liquidate this bank.  The odd part is the bank executives are all still getting paid million of dollar compensations even though the company is laying off troops of employees.  Yes, people who are invested in BofA deserve a haircut and should be forced to take losses.

RTTNews:

Financial giant Bank of America Corp. (BAC: News ), which is struggling with souring mortgage losses, is in talks to cut roughly 40,000 positions over a period of years as part of its initiatives for cost cutting, known as Project New BAC, reports said Friday, citing people familiar with the plans.

Job cuts may total about 10 percent of the bank’s total employee count of 288,000 in the next two to three years. Chief Executive Brian Moynihan reportedly said that the bank will cut assets as well, to make it easier to manage. He is expected to discuss the details of restructuring on Monday at a conference held by Barclays Capital in New York or during the bank’s next earnings conference call in October.

Moynihan recently had said that its time to simplify and streamline the organization, and make sure business processes are relevant with a smaller, more focused company.

It was reported earlier that the officials had set a preliminary goal of cutting expenses by 20 percent in consumer banking.

On September 6, Bank of America announced reshuffling and restructuring its operations management, and appointed David Darnell and Tom Montag to the newly-created positions of co-chief operating officers. The Bank said the first phase of change is nearing conclusion and expects significant expense reductions as a result. The reorganization is expected to align the bank’s operating units with its three core customer groups: individuals, companies, and institutional investors.

The bank’s Project New BAC was started in April 2011 with the primary objective of alignment of leaders with customer groups and simplifying the organization.

BAC closed Thursday’s regular trading session at $7.20, down $0.28 or 3.74 percent. In pre-market activity, shares are currently trading at $7.27, up $0.07 or 0.97 percent.

When you do a bad job or perform poorly, it is only natural to have your ratings decline. Yes, I know there are some Obamabots left, but they love him no matter what he does. Unfortunately, President Obama has mostly broken promises to show for his presidential term.

Don’t be surprised by continued Obama broken promises. Too many broken promises is the fastest way to lose credibility and approval ratings.

This is just a current event video clip that highlights the realities of our jobs available in our economy. Is the economy getting better? For some reason that old blog post gets lots of hits.  I think it is because most of the media tries to support that false idea the economy is improving and people wonder if it is just them when they have been searching for a job for an extended period of time (like a year or two).  The jobs that disappeared have simply not returned.  We have had poor leadership in the Obama White House and our Congress.  I say vote them all out again!

Enough of the speeches.  Let’s get an action plan to get America back working.

Now that our same government has decided to crack down on their fraudulent practices, one of the major banks announce they will cut more jobs.  This is after they suckered in Warren Buffett into a $5 billion private investment.  Seriously, if the bank is simply insolvent, the FDIC needs to step in and liquidate this bank.  The odd part is the bank executives are all still getting paid million of dollar compensations even though the company is laying off troops of employees.

MarketWatch:
If it is true, it would be another sign of desperation. The Charlotte Observer reports that Bank of America (NYSE: BAC) could lay-off 30,000 people over several years.

The bank has come under new pressure as the government announced a suit against 17 financial firms which it claims misrepresented the risk of mortgage-back securities they sold to Fannie Mae and Freddie Mac. The total losses from these was $200 billion. The possibility that the government can recoup of all that is unknown.

Bank of America (NYSE: BAC) has been rumored to need over $100 billion in new capital. There have also been rumors that the firm could be taken over by JP Morgan (NYSE: JPM) or another large American bank. B of A has attacked these as false, but its share price has done little to allay fears. The stock fell to $6.01 three weeks ago. Warren Buffett invested $5 billion in the bank which cause share to rally. Subsequent bad news pushed shares, which had recovered to $8.39, back to $7.25. The stock’s 52-week high is $15.31.

Bank of America can continue to deny it will need to raise large sums of money, an act which would nearly wipe out common shareholders. The firm’s stock says many investors have bet otherwise