Archives: 2008 July

John McCain is truly delusional. Yesterday on CNN with Wolf Blizer he was once again saying how he had the foresight to recommend the surge and that because of the surge the US is now winning the war in Iraq.

These are the wake up call headlines from an article today in the Washington Post:

“Suicide attacks kill 57 in Baghdad, Kirkuk”

Unfortunately, John McCain is beyond wake up calls. He is already basically brain dead. McCain is saying that the US will be able to soon leave Iraq because we have “won” the war. That “freedom and democracy” will be the order of the day in Iraq in a stable country. His comments only show how ignorant he is about the nature of the conflict in Iraq.

In a display of how far the American mainstream has fallen in journalistic standards the media is now up to their necks in promoting the claptrap of stating that an European trip by Barrack Obama where Obama is actually liked and respected may be a bad thing for America.

When you see this type of retarded thinking you can’t help but feel a sinking feeling as to the future of American journalism. When the media stops thinking for itself and is only reading off John McCain campaign talking points it is in truly sad shape. Has the media really become such a slave to the far right or has it become that lazy and indiscriminate?

Don’t be too surprised if you are. Just try to fly to anywhere and you will soon find out. The super sized and extremely active Department of Homeland Security is adding over 20,000 names to the terrorist watch list each month. The list now has over one million names on it. Do you feel safer now?

The size of the list demonstrates how ridiculous the Bush administration’s never ending so called “war on terror” truly is. If there were anywhere near 1,000,000 active terrorists working to bring down the US from within we would be in a world of hurt. I doubt seriously if the airlines will even still be flying.

For those who are on the list it is a nightmare to try to fly anywhere. What if you have a common name, like Robert Johnson, which is on the list? You will be detained at the airport, perhaps for hours, while you try to convince the authorities that you are not a terrorist.

The legendary investor, Jim Rogers, had more than a few hot words to say about the Fannie Mae - Freddie Mac rescue plan announced by Federal Reserve Bank Chairman Ben Bernanke and Secretary of the Treasury Paul Paulson over the weekend.

“I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,” said Jim Rogers from his new home in Singapore in a Bloomberg interview . “So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.

These companies were going to go bankrupt if [the government agencies] hadn’t stepped in to do something, and they should’ve gone bankrupt with all of the mistakes they’ve made. What’s going to happen three years from now, when the situation’s much, much, much worse? They’re ruining what has been one of the greatest economies in the world. There are 300 million Americans that are going to have to pay for this.”

Hard times are on the way as evidenced by the collapse of IndyMac. In what will probably turn out to be the most expensive bank failure ever, troubled mortgage lender IndyMac Bank was taken over by federal regulators on Friday, July 11,2008.

All operations of the Pasadena, Calif.-based bank, once one of America’s largest home lenders, were shut down at 3 p.m. by the Office of Thrift Supervision and transferred to the Federal Deposit Insurance Corp ( FDIC). It is estimated that with the takeover the FDIC will incur costs of up to $8 billion.

“It’s possible this will be the most costly bank failure in history, but it’s too soon to say,” FDIC Chairman Sheila Bair said in a conference call Friday evening. She added that the IndyMac failure could also affect premiums paid by all banks for deposit insurance.