Dave is out and will certainly catch up posting all those polls.  Let me comment one more time on the stimulus which I view as irrational and the behavior of America’s household which is acting quite rationally.  Last month, according to this article, America spend less as they earned less and yet the savings rate climbed to 4.2%  Here’s the article

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.uRXqeZx6IU&refer=home

So in the face of a decline in  home values, a wishy washy stock market and a weak job market Americans are saving money.   Americans get it.  Now lets look at our Federal Government.  The American consumer is cutting back due to the uncertainties that I mentioned and Uncle Sam is trying through food stamps, unemployment benefits and tax cuts to prime the consumer spending pump.  Right now Uncle Sam is borrowing money and sends it out to Americans who are banking it.  To me its silly and irrational as DC just cannot wait until natural market forces fix things.

Right now Americans are plowing huge amounts of money into our banks which are now actually making money.  Or they are plowing this savings into the Stock market which is slowly recovering or some are actually buying homes at bargain prices.  I have said all along that the financial and real estate markets will heal in time and then the job market will start to recover.  My concern has been is that all this stimulus will lead to some inflation just as the markets are healing.  The concern about inflation and what the Fed might do will slow down or perhaps even stop economic growth. 

I know short term economic pain is hard on folks.  I know folks who are unemployed or have lost their homes.  Yet this stimulus cure is worse , in my opinion, is worse then the short term pain.

The talk on the street is that Chrysler will file chapter 11 today.  The creditors of Chrysler have refused, so far, to give it to government, union and management demands to make concessions. 

The problems of GM, Chrysler and Ford are truly monumental.  Its hard to downplay the economic effect of 300,000  blue collar jobs that pay up to 130K per year either going away or being reduced in number  by 50%.   Of course pay and benefits will be reduced as well.   For those not familiar with what the UAW has wrought its amazing to behold.  A 30 year vet can retire at 50 or so and get nearly free medical care until age 65.  As a self employed guy I just marvel at the benefit worth up to 20K per year.  The big wages have created a market second homes throughout MO, MI, OH, WI and MN for hunting & fishing vacations.  You bet the UAW does not want to concede an inch.  These are lifestyle changes that most blue collar and many white collar employees can only dream about. 

I am not sure of the political implications of this but from an economic standpoint its almost like the old mining towns out West when the gold vein runs out.  You will see boarded up streets (probably not boarded up towns) and it change the way of life in several states.

talk about whatever you want…

blessings…

That’s the news folks from his prime time news conference.  I was at Church and missed it.  Of course I would not have watched it anyway.

 All this government spending and intervention in autos and banks have been forced on him.  Next month we will see how a total takeover of our health-care system is also being forced on him. 

 Did anyone watch? If so comments?

The MSM fawns all over Obama. Just read some of these headlines for articles in RCP : The Guardian offers us ” The President Sets New Tone for America,” the New Republic has “Obama better than Roosevelt ? ” and Slate tells us that “Obama calmed the economy in 100 days.”

Bad news is reported as good news.You can always count on Joe Klein,Eleanor Clift, and EJ Dionne to shill for Obama. The same goes for the 3 TV networks and the NYTimes and Washington Post and most newspapers.

Obama is no visionary. He is Jimmy Carter with a telepromter and a more upbeat confident attitude. He is not interested in bi-partisan solutions that work but rather to reward the Democratic constituencies.

reason.com/news/show/133157.html

article.nationalreview.com/?q=NzMzMWI3Mzk3ODI4MmFhYTg2MmYxY2MzNjNlNjUwYjg

Janet Napolitano is the new Homeland Security Secretary. She appears clueless in her new job. Here are a few of her recent statements: “suspected or known terrorists” have entered the U. S. across the Canadian border, including the perpetrators of the 9/11 attack. She also has decided not to use the term “terroist”, instead she prefers “man- caused disasters”

www.nationalpost.com/todays-paper/story.html?id=1520295

americaswatchtower.com/2009/03/22/terror/

Does she make YOU feel safe ?

There are many unanswered questions about the future of the US senate in the post Specter change days.  One big question will be the effect on the court system.  In light of the Specter switch I look for an attempt to nominate many liberal judges and to confirm them at a rapid pace.  Senator Leahy and Kennedy were all for a slow study of Bush nominees but they will try to rush Obama’s nominees through. 

Yup 60 votes is crucial in judicial nominations.  The GOP can slow things down but 60 votes can get things done.  That concerns me as Obama’s 1st three judicial nominees are well respected but highly liberal.  Obama has nominated three federal district judges for promotion to the Circuit courts.  They are David Hamilton (of IN) to the 7th circuit, Andre Davis (Maryland) to the 4th and Gerard Lynch (NY) to the 2nd Circuit.  I suspect these judges will be confirmed.  Bush 43 nominated some Clinton judges in a sign of good faith and the GOP allowed Carter judges to be confirmed in very early 1981.  Will Obama follow suit? 

On the plus side finally the GOP will be rid of a token liberal on its side of the Judiciary.  Specter often made deals with the democrats to let this nominee through or to hold another nominee.  No more of that stuff.  The GOP can be hard core and fight for every inch of the judicial ground

Kansas Governor Jean Sibelius was confirmed as HHS secretary.  So after 100 days the Obama cabinet is complete.   CNN thinks Obama is stunningly popular and others who look at historical polls question that claim.

 Pelosi has the house under her control and the democrats are at 60 in the Senate.  I guess you would have to go back to 1977 to the GOP at such a low point. 

It look likes the Republican party needs a Reagan like leader to mobilize the faithfull. When he or she come forth in 2012 or 2016?

 Comments?

As I think back over Obama’s first 100 days in office I think the following conclusions are fair:

1. He has moved the country closer to a European sytle economy with more Governemnt involvement

2. He has moved our foreign policy more towards diplomacy and will work closer with our allies and with countries that have opposed us.

3. He has NOT tried to govern in a bi-partisan manner but has instead pushed through his agenda on a party line basis.

We can argue whether his economic policies are “statist” or “socialist” or “anti-capitalism” but I think we can all agree that there has been a definite movement towards the left and towards a more active and larger role for Government.

We can argue if his foreign policy is “appeasement” and if he is “gutting” our defense but I think we can all agree that he has moved us to a policy that will be more dependent on reaching a consensus before taking actions.

Some will argue that he has made some efforts to be bi-partisan but I just don’t see it.

What is your evelauation of the President’s first 100 days ? I’d like a letter grade from each of you along with a breif comment.

www.newsweek.com/id/195079

www.realclearpolitics.com/articles/2009/04/28/moving_towards_europe_–_but_do_americans_want_to_go_96208.html

With the defection of Snarlin Arlin the Democrats now have a filibuster proof Senate. Hard to believe isn’t it ? Where does the party go from here ? How does the GOP re-group and make a comeback ?

One writer says “But this presents a long-term problem for the Republican party. American politics are played between the 40-yard lines. But when a substantial portion of the party demands that their players occupy territory somewhere around the 10-yard line — even in states that are positioned more around the opposing 40, how does that party ever claim a majority? So long as a substantial number of Republicans insist on positioning themselves between their own goal line and 40, they can’t expect much other than Democratic supermajorities in both houses.

realclearpolitics.blogs.time.com/2009/04/28/arlen-specter-to-switch-parties/

Is the author right ?

Discuss…