Hillary Clinton does not have any sense of shame. It was she who made a senseless comment about RFK assassination in June of 1968. Now she is turning around and attacking the Obama campaign for hyping up the incidence. Obama did not say much about the her comments. He showed his class by accepting the silly explanation and "apology" from Clinton.
Should we make a big issue out of this incidence? I think yes, we should. This incidence, along with many others, such as her comments about dodging sniper's bullets in her 90s Bosnia trip, goes a long way to show her CHARACTER, or lack of. SHE BASICALLY HAS NO SHAME. She cares only about winning. She does not care about the party. She cares less about truth. She has no principle. She will use any means to achieve her ends, which is to win the election. She would rather destroy the democratic party than not being able to win the nomination. That is her.
To say that she did not mean anything evil in her comment about RFK assassination is simply an insult to the intelligence of the voters, particularly of the so called "low-income rural WHITE working class" she has been so carefully pandering to. Mrs. Clinton, we heard it loud and clear. You were hoping some miracle might happen that Mr Obama would all of sudden be assassinated in June as RFK was in 1968. Then you would become the Democratic nominee. Shame on you. You have got no trace of human decency left in you! If God forbidden, some crazy racist would attempt to assassinate Mr. Obama, we would hold YOU accountable for inciting that to happen. You are typical of what a dirty politician is all about!
Mrs. Clinton, why don't you just run as a Republican, so we will have some peace within the Democratic party? Go join McCain. He is looking for a VEEP. He might consider you!
Monday, May 26, 2008
Friday, May 23, 2008
Which problem is worse: housing or inflation?
The congress seems to be obsessed with subprime mortgage problems and the housing downturn. But is it really the biggest problem that ordinary people are facing?
I have done a small-sample survey among people living in my area. It is not scientific, but I think is pretty representative. People are not really worried about housing or subprime at this moment.
There are four groups of people when it comes to housing: 1) Ordinary house owners, who stay put in the current environment. They don't care how the house prices are going. They will stay in the house no matter what. 2) Stretched house owners. These people can't afford the houses they currently have. They can decide to move out, letting the house to foreclose. They may experience some short term hardship. But rentals are plenty. With the glut of unsold houses and condos, I don't think rents will go up very much. This group of people will be OK eventually once they get rid of the houses they were lured in by unscrupulous real estate agents and the greedy mortgage brokers. 3) Speculators. These people are in for making a quick profit, and now are stuck with the houses they can't sell. To this group of people, I would say: good luck. and 4) Renters. These people actually hope the house prices would drop from the insanely high levels to more reasonable and affordable price point.
So clearly, housing problem is not as bad as it is made out to be for consumers. It is certainly bad for the Wall Street financial institutions. The go-go days of mortgage speculation is gone. Their books are chalk full of subprime mortgages. They got only themselves to blame. Now they are asking the government and the Federal Reserve to bail them out. That is precisely what they have been getting. And that is also why the politicians are so eager to rescue them out of the subprime meltdown.
But for ordinary people, inflation is a much bigger problem. Just take a look at the price labels at the gas stations, and go for a grocery shopping. You will see price for almost everything has gone up, from milk to cereals, eggs to vegetables. The government tries to deceive us and themselves by focusing on the completely flawed CPI (Consumer Price Index), saying that CPI excluding food and energy is still below 3% per year. That is just plainly ridiculous.
The whole government policy is favoring the banks, and hurting ordinary people. The Fed keeps printing new dollars to give to the Wall Street banks, just to keep them afloat. That just destroys the value of dollar. That is why dollar is trading like a piece of worthless paper in the foreign exchange markets against almost every other major currency.
When dollar goes down, anything that is priced in dollar will go up in price, oil, gold, silver, platinum, diamond, metals, you name it. The cause of inflation is NOT due to the lack of supply of products, but due to the EXCESS supply of money. (No one has said about short supply of gold or silver. Why the price for gold or silver rose more than five-fold in matter of four years.) When you have more money chasing the same amount of products, prices will certainly go up. So the root cause of the widespread inflation has the Fed to blame! First Allan Greenspan, who flooded the system with money supply by lowering interest rate to absurdly low 1%, which created the housing bubble and subprime crisis. Then Mr. Bernanke did it again, just to rescue the banks and financial institutions who were gambling in the housing market with investors and depositors money (not their own money). These monetary actions, coupled with the irresponsible fiscal policy of the Bush Administration (run-away government spending for the two wars), conspired to destroy the value of dollar, hence the value of our savings and income. Middle-class America is taking the full brunt, while the super-wealthy who own real assets are actually benefiting.
It is about time. About time to have a regime change in the US.
I have done a small-sample survey among people living in my area. It is not scientific, but I think is pretty representative. People are not really worried about housing or subprime at this moment.
There are four groups of people when it comes to housing: 1) Ordinary house owners, who stay put in the current environment. They don't care how the house prices are going. They will stay in the house no matter what. 2) Stretched house owners. These people can't afford the houses they currently have. They can decide to move out, letting the house to foreclose. They may experience some short term hardship. But rentals are plenty. With the glut of unsold houses and condos, I don't think rents will go up very much. This group of people will be OK eventually once they get rid of the houses they were lured in by unscrupulous real estate agents and the greedy mortgage brokers. 3) Speculators. These people are in for making a quick profit, and now are stuck with the houses they can't sell. To this group of people, I would say: good luck. and 4) Renters. These people actually hope the house prices would drop from the insanely high levels to more reasonable and affordable price point.
So clearly, housing problem is not as bad as it is made out to be for consumers. It is certainly bad for the Wall Street financial institutions. The go-go days of mortgage speculation is gone. Their books are chalk full of subprime mortgages. They got only themselves to blame. Now they are asking the government and the Federal Reserve to bail them out. That is precisely what they have been getting. And that is also why the politicians are so eager to rescue them out of the subprime meltdown.
But for ordinary people, inflation is a much bigger problem. Just take a look at the price labels at the gas stations, and go for a grocery shopping. You will see price for almost everything has gone up, from milk to cereals, eggs to vegetables. The government tries to deceive us and themselves by focusing on the completely flawed CPI (Consumer Price Index), saying that CPI excluding food and energy is still below 3% per year. That is just plainly ridiculous.
The whole government policy is favoring the banks, and hurting ordinary people. The Fed keeps printing new dollars to give to the Wall Street banks, just to keep them afloat. That just destroys the value of dollar. That is why dollar is trading like a piece of worthless paper in the foreign exchange markets against almost every other major currency.
When dollar goes down, anything that is priced in dollar will go up in price, oil, gold, silver, platinum, diamond, metals, you name it. The cause of inflation is NOT due to the lack of supply of products, but due to the EXCESS supply of money. (No one has said about short supply of gold or silver. Why the price for gold or silver rose more than five-fold in matter of four years.) When you have more money chasing the same amount of products, prices will certainly go up. So the root cause of the widespread inflation has the Fed to blame! First Allan Greenspan, who flooded the system with money supply by lowering interest rate to absurdly low 1%, which created the housing bubble and subprime crisis. Then Mr. Bernanke did it again, just to rescue the banks and financial institutions who were gambling in the housing market with investors and depositors money (not their own money). These monetary actions, coupled with the irresponsible fiscal policy of the Bush Administration (run-away government spending for the two wars), conspired to destroy the value of dollar, hence the value of our savings and income. Middle-class America is taking the full brunt, while the super-wealthy who own real assets are actually benefiting.
It is about time. About time to have a regime change in the US.
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