Financial News Update – 05/13/10


Republicans introduce bill to prevent EU bailout

Window Dressing Cap and Trade Won’t Make the Costs Go Away (Hat Tip: Nancy Jacques)

Editorial: The next 2,000-page bill (Hat Tip: Brian B.)

Big Oil rushes in to support Cap-and-Trade

U.S. posts 19th straight monthly budget deficit (Hat Tip: Brian B.)

Depression 2010? (Hat Tip: Brian B.)

Barack Obama plans to punish BP with tax hike as Gulf spill worsens

Senate energy bill faces job-creation doubts

U.S. posts 19th straight monthly budget deficit

Morning Bell: Can We Avoid Becoming Europe?

NEW VIDEO: Heritage’s Entry to the EPA Video Contest

Congress Deserves Better from the CBO

Effects of Unemployment Benefits

Banks seized a record 92,000 homes last month (Hat Tip: Brian B.)

Obama’s Rationing Man (Hat Tip: Brian B.)

PAPER: Senate bank bill ‘sets up new supersnooping agencies’

Euro loses bounce from $1 trillion bailout

Gold hits record high at $1,245

Sen. Kerry unveils new climate bill, Obama supports it


NYT NEW NORMAL: Many Jobs Lost in Recession Will Not Be Coming Back

Anti-porn provision sinks Dem jobs bill

New govt 5% pay cut – UK


Spanish workers to strike over cuts

Portugal to issue ‘Crisis Tax’

Ex-Auto Czar: GM May Have Exaggerated Repayment

Weekly Jobless Claims Drop for 4th Straight Week

Terrorists and the Market Selloff

Paying as They Go — With YOUR Money


Gold hits all-time high as investors seek haven

Stock Market Time Bomb?

Hmmmm…. A Crack In The Dam?

“Brother Can You Spare a Trillion?”

The World’s Fiat Currency System Risks Collapse

Unions warn of Greek-style riots in Britain against public sector cuts after court victory over capping of redundancies.

Roubini: We Will Have Even More Crises in the Future

Germany Might Have to Pay Entire Euro Aid Bill!

Unions Warn of Greek-Style Riots in Britain

Stock Market Crash Exposes World of Electronic Trading

Ron Paul: How the Euro Bailout Will Lead to Currency Collapse

US Exposure to EU Bailout is $50 Billion

Schwarzenegger Preps “Terrible Cuts” to Close Deficit


Is this Indoctrination or Revolutionary Training?

By: MJ

A television host, Sean Hannity, showed the video of the LA teacher talking about a Mexican revolt in the US to a discussion panel. He set it up expecting that the panel would be outraged at the ideas promoted by the speaker.

One member of the panel, Rebecca Diamond, co-host of a business television program, said that this is no big deal. When Hannity asked if he should be teaching in a public school, the response was that this was on his own time and that if he were advocating these ideas in the classroom it would be a problem. She also said that he was “just one guy,” like the guy on the street corner is an evangelist. He wasn’t calling for the overthrow of the government. She said that the teacher called for the support of Castro and Chavez. She said that the support for Castro and Chavez is acknowledging a support for socialism against capitalism, but apparently she missed the word “professional revolutionaries.” She did say that this teacher should feel lucky to have been born here.

Jay Sekulow, a human rights attorney for the American Center for Law and Justice, said that “hate speech is not free speech” referring to the teacher’s comments about “frail white capitalist…., but since Sean Penn wasn’t there no one is talking about it.” He also mentioned that the teacher did say: “Let’s start a revolution.” And in reference to the media bias, Jordan pointed out that in the tea party attacks, they chose one tea party member and in this case this is the speaker of the movement.

Leslie Sanchez, a Republican Strategist, had very little objection other than recognizing the media bias when comparing this isolated incident to a tea party incident. She said that the media should have reported on it. She said there were very few people in his audience and referred to “three people clapping.” The clip shown on the air did not reveal that there were underage children in the group. She said he was “one nutty guy.”

At the very beginning of that video he talks about the “person who just spoke was a student of his.” That should tell you he is recruiting students from his class to participate in these activities.

There have been teachers who have been criticized for drinking when they are not in the classroom and for participating in various other activities while not in the classroom. Teachers are held to a higher standard. Everything teachers do outside the classroom and activities they engage in outside the classroom are reflected in the classroom, because it demonstrates their character and their belief system. Teachers are not allowed to give students a ride home and I am sure they would not be allowed to recruit students for an activity such as this. Teachers are not allowed to give elementary students a hug, show favoritism or anything of that nature.

In addition to that, he explains the domino theory and how he was trained by someone who is in the leftist movement. He also expresses globalist theory – “we are all one people.”

From Free Republic:

“This is only a part of the GLOBAL COMMUNIST MOVEMENT to fell the United States and they are winning. There are very powerful people all over the globe working feverishly to bring us down. When are you people going to wake up? It’s time to organize and resist, or cozy up to your new masters.”

He further states they are “professional revolutionaries,” and there are 40 million of them inside the US’ borders. He says, “Our enemy is the same enemy as Chavez, capitalism and imperialism.”

And he continues, “If we are serious about making change, reading a book or teaching a class is not a part of the movement, what you do, 24 hours a day as a professional revolutionary that is what will lead our people to liberation.”

The two ladies on the panel do not understand indoctrination. Rebecca said, “This is just one lone person on a rant and that the crowd was small.” Leslie, another member of the Great American Panel, said this was not important because it was just one person.

Indoctrination happens in small groups and it is not simply imparting information, it is changing beliefs or belief systems. They have not learned about ACORN and the activities of THE Great Community Organizer. The teacher in this video is a professional revolutionary which is “probably” worse than THE community organizer.

I don’t have anything to offer as evidence of this, but it is instinctive. Perhaps as a parent, or as a result of my educational training, the alarm bells went off and because I watched the indoctrination of my daughter at a church to become a missionary.

It was a church in which she was participating in high school. The adults leading the youth group were encouraging kids to become missionaries. But the hypocrisy was evident, because the leaders were actively engaging the youth in traditional teen activities, such as attending movies together. They were asking these kids to give up the chance to go to a vocational school or college to become missionaries.

In essence, they were asking these youth to give up their future in a career of their choice. These adults were working in the community at jobs to support their families. They had not given up their jobs to become missionaries. In addition to that, the indoctrination happened a little at a time, each week and in small groups in that church.

The week before my daughter graduated from high school, she told me she was not going to go to college and enter a nursing program. This was a young lady who enjoyed going to movies and other activities that young people enjoy. She had not experienced a lack of engaging activities and I had trouble envisioning her in a setting where there weren’t hair dryers, nail polish and movie theaters, if you get my drift.

I explained that she needed a skill to be able to help other people. And I explained that many people lose academic skills in the first year after high school if they do not continue with a course of study. There were tears to be sure, but I was successful in encouraging her to attend college.

After her first two years at college, she won a ticket to London in one of those raffles for the “students abroad” fairs. She looked for a medical mission trip to go on and was fortunate that the one she found was not a scam. Since she had the ticket to London, all she had to do was pay for the transportation from London to Sierra Leone. She went to Sierra Leone for ten days (which had recently been in a civil war). They lived in huts with no running water and they were chased by revolutionaries.

When she returned she thanked me for NOT letting her become a missionary. She said she was not prepared for that style of life. It was sweet music to know that I had done the right thing because as parents, sometimes, we don’t know if we are pointing our kids in the right direction. Because as parents, and having life experience, we know that there are always choices and we have had some opportunity to reflect upon our own choices – whether if we had chosen a different road, where we might be today.

My point is that the people on this panel should know what is going on in the world today since they are not the average person – they have positions in the arena of political discussion. Their credentials included a television co-host of a business program, a republican strategist and an attorney in an organization related to freedom and liberty.

We have a choice – each of us has to stand up to defend freedom and expose these community organizers for who they are – socialists, communists, fascists or revolutionaries, because WE are the KEY.


Beck Exposes the “Big Boys”

By: Trevor Loudon
New Zeal

Glenn Beck gets better and better as he digs deeper and deeper.

Beck demolishes John Kerry and Joe Lieberman’s new disguised “Cap & Trade” Bill and exposes some of the key global players who stand to benefit from it.

He even looks up arch, arch global socialist Maurice Strong.

Way to go Glenn!

Back this man America. Where would you be without him?


Communist Roots of the “Immigrants Rights” Movement

By: Trevor Loudon

Illegal immigration, especially from Mexico, is once again a huge issue in the United States.

It is an issue that could provoke violence from both sides and has the potential to cause major social disruption if President Barack Obama presses forward with plans to grant amnesty to millions of illegal immigrants this year.

Like most radical social movements in the United States, the “immigrant rights” movement was initiated (and is maintained) by communist and socialist forces.

Communist Party and Democratic Socialists of America member David Bacon is a leading immigration rights activist. He made an interesting admission in an article published in the Communist Party’s Political Affairs of March 2009. Commenting on the annual immigrant’s May Day marches, Bacon wrote:

In a little over a month, hundreds of thousands, perhaps even millions, of people will fill the streets in city after city, town after town, across the US. This year these May Day marches of immigrant workers will make an important demand on the Obama administration: End the draconian enforcement policies of the Bush administration. Establish a new immigration policy based on human rights and recognition of the crucial economic and social contributions of immigrants to US society.

This year’s marches will continue the recovery in the US of the celebration of May Day, recognized in the rest of the world as the day recognizing the contributions and achievements of working people. That recovery started on Monday, May 1, 2006, when over a million people filled the streets of Los Angeles, with hundreds of thousands more in Chicago, New York and cities and towns throughout the United States. Again on May Day in 2007 and 2008, immigrants and their supporters demonstrated and marched, from coast to coast…

The protests have seemed spontaneous, but they come as a result of years of organizing, educating and agitating – activities that have given immigrants confidence, and at least some organizations the credibility needed to mobilize direct mass action. This movement is the legacy of Bert Corona, immigrant rights pioneer and founder of many national Latino organizations. He trained thousands of immigrant activists, taught the value of political independence, and believed that immigrants themselves must conduct the fight for immigrant rights. Most of the leaders of the radical wing of today’s immigrant rights movement were students or disciples of Corona.

Indeed, it all does go back to Bert Corona.

The son of a murdered Mexican revolutionary, Corona joined the Communist Party in Los Angeles in the late 1930s. He was particularly close to Harry Bridges, a leader of the Longshore Workers Union and a secret member of the Communist Party Central Committee. Coincidentally, Bridges was instrumental in persuading secret Chicago communist Frank Marshall Davis to move to Hawaii, where he went on to meet and mentor a young Barack Obama.

Bert Corona

Corona later worked as a union organizer and helped set up a local branch of Saul Alinsky’s Community Services Organization, where he began working with Farm Workers’ leader and Communist Party darling Cesar Chavez.

Corona was most closely identified with the work of La Hermandad Mexicana Nacional, or the National Mexican Brotherhood. Founded in 1951 in San Diego, the organization provided services to immigrants. Over the years, La Hermandad established chapters throughout the country and at one point boasted a membership of 30,000. The focus was organizing trade unions, defending undocumented workers and providing social services to the undocumented. Corona helped establish its Los Angeles chapter. For the next four decades, he devoted much of his time to La Hermandad. He was the group’s executive director when he died in 2001.

In Spring 1974, La Hermandad held a conference at Northridge California, where representatives from ten states met to discuss problems confronting Mexicans in the United States who had no visas or citizenship documents. The first day, participants discussed how to defend persons detained by immigration authorities and how to help immigrants acquire disability and unemployment insurance and welfare.

The next day, participants discussed resolutions from the workshops. Corona stressed the need to establish a legislative program to campaign against bills that would crack down on the hiring of illegal immigrants and to “fight for humane immigration policies and practices”.

Ever the “moderate” communist, Corona had to hold back some of the even more militant members of the organization. According to participant Carlos Ortega:

This conference helped us organize at our campus and in the local community. At the same time, La Hermandad was also going through some changes. There had been an influx of student activists, professionals, and community organizers. The ideological nature of these groups brought a strong Marxist appeal, which changed the focus of the organization as Corona knew it. The newer activists wanted to deemphasize the service aspect of the organization and focus on larger ideological issues. At Northridge, there was some support from students who wanted to push a more revolutionary agenda, but many of us were not convinced how this agenda–which had its merits–would bring immediate results for the undocumented and the poor. I threw my support to Corona and to the idea that organizing could not be accomplished by polishing leftist vocabulary but rather by working hard, speaking to one person at a time, and building an organization.’

By 1975, Corona had moved his operation to the San Fernando Valley, so he could continue to work with the undocumented. A group of students including Carlos Ortega brought Corona back on campus for a conference to clarify how students should organize and mobilize against deportation raids and repression in general.

“Present-day immigration policies and practices of the government are fundamental characteristics of the capitalist system,” he said, “and the only possible way to confront those oppressing us is to organize as one, the alliance of students, workers, and the community.” He added: “The student movement only has validity if directly linked with the workers’ movement and the movement of people.”

Corona, “more than any other person, furthered the ideological struggle against the nativists,” says Rodolfo Acuna, professor of Chicano Studies at Cal State Northridge.

Corona made the issue of immigration and undocumented workers, in particular, a civil and human rights concern.

There is no evidence that Bert Corona ever left the Communist Party and though he worked inside the Democratic Party (He co-chaired Bobby Kennedy’s Southern California campaign in 1968) he remained close to the Communists until his death.

Through his Mexican American Political Association, Corona steered several young radicals into the Democratic Party, including Los Angeles mayor and Obama Transition Team member Antonio Villaraigosa and California State senator Gilbert Cedillo.

Corona’s most important legacy however, is a radical movement that threatens the security and prosperity of several U.S. States. If that movement succeeds it will destroy the very country that gave Bert Corona far more opportunities than Mexico ever could have.


Socialism Is…

From: SurvivalBlog

“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” – Winston Churchill