The Free Market Does Not Work? Do You Agree with Obama?

Two days ago, Obama gave a speech at a high school in Kansas. The president told Americans that free market capitalism does not work. Let me repeat that so it can settle in. The President of the United States told Americans that free market capitalism does not work and has never worked. Now allow me to summarize nine other major points made by the President –

In today’s America, the hard work of the middle class benefits only the wealthy.

The key to national prosperity lies with government regulation and oversight of all private business activity.

Individualism is trumped by collectivism. Survival of the fittest is a myth.

The only way out of our economic malaise is to re-educate Americans with government programs, including tax-subsidized community college education.

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Read More at the Obama White House Diaries By Craig, Obama White House Diaries

Germany, Wavering Ally

As German Chancellor Angela Merkel and French president Nicolas Sarkozy do their best to put on a public face of cooperation in resolving Europe’s escalating sovereign debt crisis, behind the scenes both leaders are seething.

They are angry with each other, angry with each other’s policy choices, angry with each other’s friends and allies.

It’s well-known that German taxpayers are fed up with footing the bill for Greeks who take longer vacations than they do and retire on full government pensions many years earlier than they can. Less known is that the German government is actively considering allowing Greece – and possibly Portugal and even Italy and Ireland – to drop out of the Euro-zone.

“If the Euro fails, it will be Merkel’s fault,” a senior advisor to French president Sarkozy told me recently. “Germany has been resisting efforts to prop up the Euro. If the Euro collapses, it will be as much Germany’s fault as it will be that of the over-indebted Euro-zone members.”

Europeans are used to duplicity. That’s why they weren’t surprised to hear President Obama sharing derogatory personal remarks about Israeli prime minister Benjamin Netanyahu to French president Sarkozy when both leaders apparently thought the microphones were off.

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Read More at frontpagemag.com By Kenneth R. Timmerman, frontpagemag.com

Memo to Congress: Ask Eric Holder About Van Jones

Today, beleagured Attorney General Eric Holder is scheduled to be in front of the House Judiciary Committee to face very tough questions about Operation Fast and Furious from Reps. Darrell Issa (R-CA), Jason Chaffetz (R-UT), and Trey Gowdy (R-SC).

A congressman who sits on the committee and is not an expert on the failed gun-walking scandal should ask Holder a separate but very important question: What is the Justice Department doing about Van Jones?

On December 12th, just four days after the hearing, the Occupy Wall Street movement is planning to shut down every major port on the west coast of the United States. On December 1st, Jones tweeted a message in support of this effort and linked to an article that gave the details.

Here is the content of the tweet that Jones sent out on December 1st:

It’s the 99′s turn, again. Post-encampment phase begins Dec 12th. RT @occupybot: Occupy to blockade major ports: no.gd/v6TEVu #ows

The article that tweet links to details the plans of OWS on December 12th:

Occupy movements plan to shut down major ports along the U.S. West Coast and Canada’s Pacific seaboard in a day of action next month, they said Wednesday.

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Read More at Floyd Reports By Ben Barrack, Floyd Reports

Teddy Roosevelt Rebukes Obama, Pt. 1: Occupy Wall Street

On Tuesday, Barack Obama gave a speech (stop the presses!) of dubious veracity in the small town of Osawatomie, Kansas, in a desperate attempt to wrap himself in the mantle of Theodore Roosevelt. But one wonders whether anyone in the Obama campaign read Roosevelt’s original speech before choosing it as a template for the two parties to follow, since it contradicts Obama’s most fundamental beliefs and defining policies on class warfare, cradle-to-grave welfare, wealth redistribution, crony capitalism, equality of opportunity, and endorsing politically violent movements like Occupy Wall Street. And the nation’s youngest president has yet more to teach his immature successor.

Obama wished to conjure up memories of a groundbreaking speech Teddy delivered in the city in 1910 entitled, “The New Nationalism.” Selecting Roosevelt as the model Republican seems odd, since the founder of the (real) Progressive movement stood closer to liberal hero Woodrow Wilson than Barry Goldwater or Ronald Reagan. But it is clear which part of the speech appealed to Obama. Teddy said he favored “far more active governmental interference with social and economic conditions in this country,” that “each nation must do its own part in international police work,” and that “the executive power as the steward of the public welfare.” The government, he said, may “take from some one man or class of men the right to enjoy power, or wealth, or position, or immunity, which has not been earned by service to his or their fellows.” Yet Obama overlooked significant lessons TR would want him to learn.

No Violence

Obama has endorsed the Occupy Wall Street movement, whose members have committed numerous felonies and misdemeanors against one another and left their hosts with a hefty bill and a huge mess to clean up, when they leave at all. Would the advocate of “The New Nationalism” hail a movement whose members sang, “F— the USA”? Would the hero of San Juan Hill stand with the rabble of Zuccotti Park?

In the speech Obama cited, TR warned against political “excess,” saying, “I do not want to see our people, for lack of proper leadership, compelled to follow men whose intentions are excellent, but whose eyes are a little too wild to make it really safe to trust them.”

Like whom? Teddy told the Kansas crowd, “in the interest of the working man himself, we need to set our faces like flint against mob-violence just as against corporate greed; against violence and injustice and lawlessness by wage-workers just as much as against lawless cunning and greed and selfish arrogance of employers.”

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 Read More at Floyd Reports By Ben Johnson, Floyd Reports

Chris Christie Shames #Occupy Goons Who Interrupt Him in Iowa (Video)

This was great…

A few of Obama’s radical #Occupy goons decided it was a good idea to interrupt Governor Chris Christie at a function for Mitt Romney in Iowa.

Bad decision. Really bad decision.

Christie wasn’t buying their “mic check” crap.

The Examiner reported:

New Jersey Gov. Chris Christie heckled a group of protesters at a rally for Republican presidential candidate Mitt Romney in Iowa on Wednesday, calling them immature and disillusioned for supporting President Obama.

Christie had been speaking for about one minute to a crowd of roughly 200 at the Kum & Go headquarters in West Des Moines when a protester, who was standing a few feet from Christie, shouted, “mic check!”

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Read More at The Gateway Pundit Posted By Jim Hoft, The Gateway Pundit

Five Big Lies in Obama’s Economic Fairness Speech

Election ’12: One thing is certainly true about President Obama — no matter how many times people point out the falsehoods in his speeches, he just keeps making them. Case in point: his latest “economic fairness” address.

In that speech Tuesday, Obama once again tried to build a case for his liberal, big-spending, tax-hiking, regulatory agenda. But as with so many of his past appeals, Obama’s argument rests on a pile of untruths. Among the most glaring:

• Tax cuts and deregulation have “never worked” to grow the economy. There’s so much evidence to disprove this claim, it’s hard to know where to start. But let’s begin with the fact that countries with greater economic freedom — lower taxes, less government, sound money, free trade — consistently produce greater overall prosperity.

Here at home, President Reagan’s program of lower taxes and deregulation led to an historic two-decade economic boom. Plus, states with lower taxes and less regulation do better than those that follow Obama’s prescription.

Obama also claimed the economic booms in the ’50s and ’60s somehow support his argument. This is utter nonsense. Taxes at the time averaged just 17% of the economy. And there was no Medicare, no Medicaid, no Departments of Transportation, Energy or Education, and no EPA. Had Obama been around then, he would have decried it all as un-American.

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 Read More at investors.com

By the Numbers: A Closer Look at the Real Wealth of US Households

Compared to the typical Japanese or European, the typical American is only half as rich. Half the people in the US have less than $53,000 net worth. You can imagine what the bottom 20% have.  Read more below.

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Americans are poorer than they think…

Dow up again yesterday. Gold still bouncing around…

The press is still focused on Europe. A “deal over eurozone fiscal rules,” was announced earlier in the week. Every day brings more speculation about what form the final deal will take…and whether the European Central Bank will lend a hand.

Nobody really wants to sell stocks. Because a real deal might send stock prices shooting up in a giant Christmas rally.

They don’t want to buy either. Because a failed deal might send them collapsing. So investors watch…and wait.

 Read More at The Daily Reckoning By Bill Bonner, The Daily Reckoning

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