News the Stars Bring Today

Hat Tip Looking At the Left
After spending days claiming that there was “no time to read” the 1100 page “porkulus” package, Obama waited a leisurely 3 days taking a vacation before he went off for an op-ed in Denver to sign the “pork package.”

At the same time there was a protest in Denver, including Michelle Malkin and others who were protesting this “Generational Theft Act.” It is calculated that each American citizen will be indebted $30K for this “pork”. According to Looking at the Left , Simon Maierhofer of finance.Yahoo.com states that the stimulus is like putting a bandage on a punctured balloon. Another point is that the provision, called E-verify, which would check to make sure the job applicant is an American citizen, was dropped from the final bill. So, essentially, the bill is creating jobs, but for whom? illegal immigrants?

Basically, Simon says, valuations in a bear market follow a pattern.
The day after he signed the bill, the Dow dropped 300 points, because of lack of confidence that the stimulus would do anything. Even Vladimir Putin, speaking in Davros, Switzerland, warned “in the 20th century, the Soviet Union made the state’s role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.” So, if even a former KGB can see the foolhardiness of the “porkulus”, he most likely has hit the nail on the head. It is very humbling to hear that Putin gave some “friendly” advice to Obama.

As we know, the 789 billion dollar stimulus will cost 3.7 trillion with interest. However, only one billion will be used in 2009. So, if Obama is found to ineligible to be POTUSA, by the National Grand Jury, then the bill will be overturned.

That would be the good news.