Republicans Band-aid On The Economy

It was reported today in the WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told Congress Thursday that the country's economic outlook has deteriorated and signaled that the central bank is ready to keep on lowering a key interest rate -- as needed -- to shore things up.' In fact it was also reported that "The outlook for the economy has worsened in recent months, and the downside risks to growth have increased," Bernanke said. "To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so." Actually Bernanke is being a bit too relunctant to give all the facts regarding the lowering the interest rate.--

Let me see now, at the end of 2001 Republicans did discuss and quickly lowered the interest rate in time to save the figures from showing a negative in the quarter or even a negative on the year of 2001 regarding the economy when the 2002 report of the 2001 economy stats came out. During 2001 High Tech jobs started leaving the country but in 2002 we found out why it was 'Government Financial Incentives.' More high tech and other American jobs continued to leave the country. In late 2003 the Republicans discussed the lowing of the interest rate and by 2004 another drop of interest rate did occur. An Interest rate cut did happen in September of 2007 and then again in January 2008. Now in February 2008 the Republican Economic experts are talking Interest rate reduction again.

How long will it take the Republican Intellect to understand that 'Giving Government Financial Incentives' to Business to send American Jobs overseas to Foreign countries and foreign workers is a very big strain on the American Economy.

"The Working Economy works Only when the people in that Economy are working".

The Republican Intellectual Mind

"We will make sure our troops have all that is necessary to complete their missions. That's why I went to the Congress last September and proposed fundamental -- supplemental funding, which is money for armor and body parts and ammunition and fuel." --George W. Bush Erie, PA 09/04/2004 - Yet on March 23, 2003 when we invaded Iraq GW Bush insisted that all of that was unnecessary, and that the rebuild would happen quickly. I guess GW and the Republicans were wrong.

"But all in all, it's been a fabulous year for Laura and me." --George W. Bush, Washington, DC-- 12/20/2001-summing up his first year in office, three months after the 9/11 attacks.

"We understand the fright that can come when you're worried about a rocket landing on top of your home."-George W. Bush Washington, DC 05/17/2007

"I fully understand those who say you can't win this thing militarily. That's exactly what the United States military says, that you can't win this military." George W. Bush Washington, DC 10/17/2007,Regarding political progress in Iraq

"Make no mistake about it, I understand how tough it is, sir. I talk to families who die." George W. Bush, Washington, DC 12/07/2006. I wonder if GW Bush had spoken with Elvis lately.

Will Feb 12, 2003 Be A Sweep Also?

The Democratic Primary on Tuesday February 12, 2003 is proving to be a repeat of Saturdays Primary. With 99% of the votes in the Virginia Democratic Primary proved interesting having Obama at 64% lead over Clinton 35%. With DC the Democratic votes have given a lead of 75% over Clinton's 24% with only 98%of the votes in. While Maryland Primary with only 44% votes counted has 62% for Obama with Hillary Clinton at 48%.

The Republican is a surprise with McCain winning in the Conservative beltway. In Virginia the Republican Primary has McCain at 50% with Huckabee close behind at 41%. Yet in the Republican DC Primary with 98% of the votes in McCain is leading by a wider margin of 68% over Huckabee's 17%. Maryland is only at the 44% counted yet McCain is proving to be a projected winner of the Republican Primary there with 55% over Huckabee's 30%.

At least that is the way it stands as of yet. By morning the numbers could change a bit, but it does appear that both Obama and McCain are sweeping the primary for their parties clean. We will just have to wait and see.

Will the Tuesday Primary bring surprise?

After Saturday's sweep for Obama in the Primaries, Hillary camp has been saying that she just may surprise people come Tuesday's primary. But then Hillary early Tuesday made a statement that she did not expect to win that primary. She was also asked about not disclosing her income tax in a television interview, but Hillary's response shocked even me. Instead of answering the question, Hillary spoke about Obama and connecting him to a nuclear Lobbyists.

Not only did Hillary by-step the question presented to her, but she placed the attention on Obama with a half truth again. This time she tried to spin in a story was just is not true. The nuclear she spoke of was the employee of the nuclear energy company who back Obama. They are not the MONEY end or CEO, nor are they involved with the financial part of the company. They are only employees.

Well, as Benjamin Franklin used to say: "A Half Truth Is A Big Lie."

GM Keynote Address Spells Trouble

Rick Wagoner paused while giving his keynote address at the Consumer Electronics Show in Las Vegas. The CEO of General Motors on January 8 2008. But why report this now? It is because until today what he had to say had not been reported. I guess with the Stock Market on the roller coaster ride, the General Motors people did not want to loss any of their stock holders. So What was it that he spoke about in his Keynote address. Well, it may be better if I just cut and paste what a reporter stated in the news article.

DETROIT Feb 12, 2008 (AP) The Associated Press
--General Motors Corp. reported the largest annual loss for an automotive company Tuesday and said it is making a new round of buyback offers to U.S. hourly workers as it struggles to turn around its North American business amid a weak economy. GM said it lost $38.7 billion in 2007. The loss largely was due to a third-quarter charge related to unused tax credits. The Detroit-based automaker also on Tuesday said it was offering a new round of buyouts to all 74,000 of its U.S. hourly workers who are represented by the United Auto Workers. The 2007 loss topped GM's previous record in 1992, when the company lost $23.4 billion because of a change in health care accounting, according to Standard & Poor's Compustat. Excluding the tax charge and other special items, GM lost $23 million, or 4 cents per share, for the year, compared with a net income of $2.2 billion in 2006, beating Wall Street's expectations. Analysts polled by Thomson Financial expected GM to post a full-year loss of 95 cents per share.

GM posted a loss of $722 million, or $1.28 per share, in the fourth quarter, compared with a net income of $950 million in the year-ago quarter. Fourth-quarter charges included $622 million to Delphi Corp., GM's former parts division, for its restructuring efforts. GM reported $181 billion in revenues for the year, down from $206 billion in 2006. Its automotive business saw record automotive revenues of $178 billion in 2007, up $7 billion from a year ago thanks to growth in emerging markets and favorable exchange rates. But GM's North American division continued to struggle, posting a $1.5 billion loss for the year.

GM's results also were dragged down by its 49 percent stake in GMAC Financial Services, which lost $2.3 billion in 2007. GM reported a $1.1 billion loss attributed to GMAC. GM barely retained its title as the world's largest automaker in 2007, selling just 3,000 more vehicles than Toyota Motor Corp. GM sold a total of 9,369,524 vehicles worldwide, up 3 percent from the year before. Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.--

Now I am No Expert, but even I know that it spells trouble for the American Workers Jobs again. After all They have been sending American Jobs to their plants overseas, Laying off American Workers for Years. How do they expect Americans to by their cars if Americans do not have the jobs and incomes to buy the cars.

Just like I always say: "A Working Economy Only Works When The People In That Economy Are Working!"

Do you think that the American Major Corporations who are solely for Global Economy ever going to get it? My answer as always - They are too greedy.