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Please forgive us. MY PORCH.NET |
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USA: On November 4, 2008 at 8:01 PM Pacific Standard Time, Democracy died. During the campaign, Obama controlled the media with the skill of Kim Jung Il.I say this because the election was called before a single West Coast vote was counted. The electoral college was at 203 to 147 when the race was called. In one state John McCain had 75% of the vote, and New Mexico he had 66% but the news networks including FOX called it Obama. No matter who you voted for this should scare the hell out of you. Was this election bought and paid for? Was this smoke and mirrors, slight of hand? The more I listened to Obama the less I heard. While we should have been paying attention to the issues we were fed gossip about Governor Palin’s wardrobe. Obama promised to reach across political differences while appointing the most radical liberals to his cabinet. Instead of vetting his appointees we are discussing his possible dog. Just more smoke and mirrors to distract our attention from the real issues. Obama controlled the media with the skill of Kim Jung Il. Article continues Here> |
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Just a month ago, $700 billion sounded like a lot of money. Not anymore. Half the money is spent, and while it’s hard to prove that cash has not helped to avoid a much more serious situation, say, the closure of thousands of banks, it’s equally hard to keep corporate lobbyists from crashing the gates at Treasury for a shot at what’s left. Treasury is now down to $60 billion of the first $350 billion committed by the president. Treasury Secretary Hank Paulson would have to go back to Congress for the second half. |
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Bloomberg News has sued the federal government demanding that Treasury chief Henry Paulson disclose the names of the banks and other companies that are receiving emergency loans. Bloomberg reported on Monday: “The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. “Fed Chairman Ben S. Bernanke and Treasury Secretary Henry M. Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return. |
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Former Federal Reserve Chairman Alan Greenspan said Friday there is no doubt the world economy is in a very severe recession and that U.S. gross domestic product will decline significantly in the last three months of the year. "That we are in a recession, very severe, there's no question," Greenspan said. "Gross domestic product in the United States in the fourth quarter is going to be down significantly." |
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