The Pot Calls The Kettle....

President Obama made it obvious that he didn’t like the Egyptian dictator. Today, the dictator is gone, and Egypt is in chaos.

Next President Obama started a war with the Libyan dictator. It’s a total fiasco that goes on without end.

Now President Obama says that Syria would be better off without a president. I suspect that the Syrian dictator would not be alone if he expressed the opinion that the U.S. would be better off without a president.

My own view? The U.S. has a history of defending freedom for all of us on the planet. Now, sad to say, the U.S. itself is in serious trouble under the leadership of President Obama. He is not in a position to point the finger at others, even if their problems are more serious than those faced by North Americans.

How Stupid Do I Look?

Financial analysts totally forfeited credibility when they failed to discharge their fiduciary obligations in the crush of the sub-prime crisis. Trillions of dollars were vacuumed from ordinary souls world wide. Today, only a few scapegoats are behind bars, our savings are gone, and we are faced with another absolute mega-travesty.

On Tuesday August 9th markets were weak until about an hour before the close. By that time, the Standard & Poor’s U.S. debt downgrade market debacle was reverberating around the world.

Then in the final hour, U.S. and Canadian markets soared. Money in quantities that cannot be imagined went on the bid for every corporate participant in every major North American market index, and that money kept the upside pressure on relentlessly until markets closed.

My friends, there were no little people like me on the bid. This massive game was entirely played from a single trading desk on a scale that boggles the mind.

It’s not much wonder that analysts on Wall Street and Bay Street continue to make fools of themselves. There is no way to analyse the massive sloshing mountain of criminally sourced cash that has swamped our once pristine protest-ant market place. Integrity is no longer tolerated. Freedom forfeited without a shot fired.

Nuclear Wasted

Ontario is nervous. Very, very nervous. Their nuclear brain trust is cognoscente of what is really happening in Japan at the doomed Fukushima nuclear facility, and so they are edgy.

Forty years of nuclear power generation has created an explosion of wealth in Ontario, and forty years ago our nuclear heroes were sure they could swallow their own nuclear waste. Today they are sitting on a mountain of lethal radiating garbage, just as the Japanese are at Fukushima.

What to do? I’ll admit it’s a puzzle, but I do know what they CANNOT do – they CANNOT move their nuclear waste ANYWHERE. Nuclear waste MUST be managed by the generations that follow from the great wealth produced by this horrid means of generating power.

The children, grandchildren, great grandchildren and great, great, great grandchildren of the nuclear wealthy MUST bear the burden of the grievous sins committed by their ancestors.

So why are we again being told that Ontario wants to use Indian reserves as nuclear waste dumps?

Native communities in far-flung places have NEVER benefited from the prosperity of the nuclear age. There are no super highways on reserves, no paved roads, no hospitals and sometimes there is no potable water. Their future generations cannot and will not pay the price for Ontario’s nuclear binge. This is NON-NEGOTIABLE, but then there is really no need to negotiate.

There is no reason to argue about this. It would have happened already if it could have happened. Years ago Ontario told the locals at Pinawa Manitoba that they had a perfect pluton for nuclear waste storage. Pinawa bought the story hook line and sinker. In my view, that community will never recover from the mess left behind when the nuclear predators from Ontario abandoned the leaky pluton at Pinawa.

But the nuclear ghouls learned an important lesson in Manitoba. They discovered that it will put them back in the poorhouse if they try to move out their glowing garbage en masse.

Yup....they cannot live with it and they cannot afford to move it. This latest effort to deceive the innocent is just another hollow exercise to placate detractors in the Big Smoke.

The meek shall indeed inherit the earth.

U.S. Debt Downgrade

So China has long since downgraded U.S. Debt. Then Egan-Jones took the plunge. Now Standard and Poor’s has arrived late to the downgrade party.

But what of Fitch and Moody’s? How will these firms explain themselves when they are finally dragged into the real world?

The truth: Nobody really cares. Traditional Rating Agencies hit the ethical skids as the sub-prime crisis unfolded and there is no going back.

The SEC disgraced itself, the U.S. Treasury started up the printing presses; auditors slipped into the criminal realm; banks and brokers traded against their clients; insurance companies signed lucrative deals they knew they would never honor.

It was the age of financial robbery and rape, and integrity went down the toilet.

All of the same players are with us today, and they’re all busy doing just exactly what they were doing when the house of cards collapsed in 2008.

Americans deliberately elected Mr. Clinton and Mister Obama. They chose to live in the fast lane. Unfortunately, the fast lane leads to a brick wall, so now the question is: Which liar do you prefer to believe?

If we’re lucky, S & P, Moody’s and Fitch will all slither into insolvency.

Tribal Tragedy

When President Obama used the might of the Oval Office to trample a local police force in favor of a black Harvard professor, I described his actions as a tribal response - Childlike.

Now he has stomped on the S & P for calling him on his reckless and blatant mismanagement of the U.S. economy. Another of his many humiliating tribal responses.

But this time it’s not a speeding ticket. I have to keep reminding myself that this man was duly elected by a nation with the God-given privilege of freedom.

When a blessed civilization loses its will to be free, it votes on its own to end it. Freedom spent, votes itself out of existence.

It is done. So be it.

A Topsy Turvey World

The Japanese economy will go under as that country struggles to battle the aftermath of the Fukushima nuclear disaster. It’s over for Japan, but the Yen continues to roar higher. It just doesn’t compute.

Money managers knew that the U.S. was bankrupt, and a debt downgrade was possible, but they clamoured into U.S. Treasury Bonds in spite of all of this – and the bonds soared. It made no sense.

Obama’s Quantitative Easing is destroying the world’s Reserve Currency, and only days back he pushed their debt limit out to the final moment before settling. Now that the inevitable resulting mega market crash has begun, it’s blamed on the European Central Bank and Obama gets a pass. That doesn’t make sense either.

Now that the U.S. debt downgrade is a reality, logic suggests that Treasury Bonds should tumble. That’s rational, but since logic is out the window, I can hardly wait to see what happens to bond prices in the face of this latest fit of sanity at Standard and Poors.

Burning the Midnight Bridges

Boardrooms worldwide are abuzz on the weekend. Sober executives are meeting to unilaterally pass motions to permit them to break a solemn oath made to clients. They had pledged to restrict fixed income investments to triple AAA quality. A promise with NO exceptions. As it turns out they are now between a rock and a hard place, and this change in their investment quality limits is in the best interest of their beleaguered customers.

The board members are victims too – victims of decisions made by the Obama Administration that resulted in a U.S. debt downgrade – the first such downgrade in the history of the nation.