Economy

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11/20/2008 | Economy

Let Detroit Go Bankrupt

The New York Times

IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed. Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

11/18/2008 | Economy

Big Three automakers try to jump start US bailout

Breitbart.com

In a last-ditch bid to save their cash-strapped companies, the chiefs of the "Big Three" US automakers were to plead for help from skeptical lawmakers Tuesday as hope fades for a quick congressional bailout. US Treasury Secretary Henry Paulson voiced opposition to the package, telling lawmakers that the 700 billion dollar US financial bailout program "is not a panacea for all our economic difficulties." While Paulson said it was important to ensure that "none of the auto companies fail, particularly during this period of time," he said "there are other ways" to accomplish this. "I believe any solution must be a solution that leads to long-term viability, sustainability viability," Paulson said at a hearing of the House of Representatives Financial Services Committee. Paulson echoed White House assertions that Congress should instead adapt an existing 25-billion-dollar loan program aimed at helping the auto industry develop more fuel efficient vehicles.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

11/10/2008 | Economy, Governmental Control

UK's Brown: Now is the time to build global society

Reuters

LONDON (Reuters) - The international financial crisis has given world leaders a unique opportunity to create a truly global society, Britain's Prime Minister Gordon Brown will say in a keynote foreign policy speech on Monday. In his annual speech at the Lord Mayor's Banquet, Brown -- who has spearheaded calls for the reform of international financial institutions -- will say Britain, the United States and Europe are key to forging a new world order. "The alliance between Britain and the U.S. -- and more broadly between Europe and the U.S. -- can and must provide leadership, not in order to make the rules ourselves, but to lead the global effort to build a stronger and more just international order," an excerpt from the speech says. Brown and other leaders meet in Washington next weekend to discuss longer term solutions for dealing with economic issues following a series of coordinated moves on interest rates and to recapitalize banks in the wake of the financial crisis. "Uniquely in this global age, it is now in our power to come together so that 2008 is remembered not just for the failure of a financial crash that engulfed the world but for the resilience and optimism with which we faced the storm, endured it and prevailed," Brown will say in his speech on Monday evening. "...And if we learn from our experience of turning unity of purpose into unity of action, we can together seize this moment of change in our world to create a truly global society." According to a summary of the speech released by his office, Brown will set out five great challenges the world faces. These are: terrorism and extremism and the need to reassert faith in democracy; the global economy; climate change; conflict and mechanisms for rebuilding states after conflict; and meeting goals on tackling poverty and disease. Brown will also identify five stages for tackling the economy, starting with recapitalizing banks so they can resume lending to families and businesses, and better international co-ordination of fiscal and monetary policy. He also wants immediate action to stop the spread of the financial crisis to middle-income countries, with a new facility for the International Monetary Fund, and agreement on a global trade deal, as well as reform of the global financial system. "My message is that we must be: internationalist not protectionist; interventionist not neutral; progressive not reactive; and forward looking not frozen by events. We can seize the moment and in doing so build a truly global society."

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Steve Elliott, President, Grassfire.org
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Cliff Kincaid, President, America's Survival, Inc.
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Phyllis Schlafly, President and Founder, Eagle Forum
Bullet 333Tony Strickland, Taxpayer Advocate
Bullet 333Lorianne Updike, President & Executive Director, The Constitutional Sources Project

10/6/2008 | Economy

Panic engulfs global stock markets

Breitbart.com

World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis. London, Frankfurt and Paris all tumbled more than six percent approaching the half-way mark while a 15-percent dive in Moscow forced a halt to Russian trading. "We have a seriously weak and fear driven market at our hands," said Tom Hougaard, chief market strategist at City Index. "It is anyone's guess where we will end the day." Investors dumped shares after US stock markets had fallen sharply on Friday, despite US congressional approval of a 700-billion-dollar bank bailout. On Monday, Tokyo ended down 4.25 percent as Hong Kong's stock market shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai was down 5.58 percent in late afternoon trade. European stocks plummeted after Germany's fourth biggest bank had to be rescued over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday. Crude oil futures tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy. "The market is not convinced that the US bailout package can protect the economy from the financial crisis," said Toyo Securities strategist Ryuta Otsuka.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

9/29/2008 | Economy

Stocks in Europe, Asia, U.S. Futures Drop; Dexia, Wachovia Fall

Bloomberg

Sept. 29 (Bloomberg) -- Stocks tumbled in Europe and Asia and U.S. index futures retreated as bank bailouts accelerated and the $700 billion plan to rescue American financial institutions failed to unlock money markets. Dexia SA sank 23 percent after the governments of Belgium, the Netherlands and Luxembourg were forced to rescue Fortis and the U.K. seized Bradford & Bingley Plc. Hypo Real Estate Holding AG slumped 70 percent as the German government and a group of private banks provided a 35 billion-euro ($50 billion) guarantee for the commercial-property lender. Westpac Banking Corp. of Australia slid 3.5 percent. Wachovia Corp. declined 83 percent after Citigroup Inc. agreed to buy its banking operations.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

8/25/2008 | Economy, Energy Policy, Presidential Issues

Conservative Activists in Denver to Join Sen. DeMint

CCM News

CCM National Chairman Ken Blackwell and CCM Colorado Chairman Bob Beauprez will join U.S. Senator Jim DeMint and Americans for Prosperity’s Jim Pfaff for a press conference at the Democrat National Convention this Tuesday, August 26th at 10 am MDT. The event, sponsored by CCM, will call on liberal leaders to provide real solutions to reduce America’s dependence on foreign oil and will also highlight American Energy Freedom Day which is October 1, 2008. On that day, the current prohibitions on energy leasing on most of the Outer Continental Shelf and on oil shale leasing on federal lands will expire – unless the liberals who control Congress proactively act to extend them.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

8/25/2008 | Economy

Yen, Swiss Franc Advance on Reduced Demand for Higher Yields

Bloomberg

The yen and Swiss franc rose against most of the other major currencies on bets credit market losses will widen, prompting investors to sell holdings of higher- yielding assets and pay back loans in Japan and Switzerland. The dollar briefly pared its loss against the yen as an industry report showed U.S. home resales rose last month more than economists forecast. South Korea's won fell to the lowest level against the dollar in almost four years as overseas investors stepped up sales of the nation's shares. ``Credit markets may be the prominent concern this week,'' said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. ``That points to outperformance of the yen and the Swiss franc.'' The yen gained 0.3 percent to 109.70 per dollar at 10:06 a.m. in New York, from 110.07 on Aug. 22. The euro declined 0.4 percent to 162.26 yen, from 162.83. The dollar traded at $1.4792 per euro, compared with $1.4793. The Swiss franc rose 0.3 percent to 1.6197 per euro and 0.4 percent to 1.0945 per dollar.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

8/12/2008 | Economy, Terrorism, U.S. Military

Soldiers pay bag fee on travel to war

The Washington Times

American Airlines is charging troops for their extra baggage, a practice that forces soldiers heading for a war zone in Iraq to try to get reimbursement from the military. One of the country's largest veterans groups is asking the aviation industry to drop the practice immediately. American, which recently charged two soldiers from Texas $100 and $300 for their extra duffel bags, said it gives the military a break on the cost for excess luggage and that the soldiers who incur the fees are reimbursed. "Because the soldiers don't pay a dime, our waiver of the fees amounts to a discount to the military, not a discount to soldiers," said Tim Wagner, spokesman for American Airlines. "Soldiers should not have to pay a penny of it." Veterans of Foreign Wars (VFW) spokesman Joseph Davis said service members destined for Iraq should not have to spend the money out of pocket and should not have to worry about filing expense forms in a war zone.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333Zakariah Anani, Shoebat Foundation
Bullet 333Joel Anderson, Assemblyman, California State Assembly
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Major Eric Egland, Author, The Troops Need You, America: Six Ways to Help...
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333Paul "Dave" Gaubatz, Owner-Director, Wahhabi CT Publications
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Peter Lillback, President, Westminster Theological Seminary
Bullet 333Jan Markell, President, Olive Tree Ministries
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Kamal Saleem, Shoebat Foundation
Bullet 333Walid Shoebat, President, Shoebat Foundation
Bullet 333Tony Strickland, Taxpayer Advocate
Bullet 333Timothy Watkins, Producer/Director, Renegade Productions

8/11/2008 | China, Economy

China to overtake US as largest manufacturer

Financial Times Online

China is set to overtake the US next year as the world’s largest producer of manufactured goods, four years earlier than expected, as a result of the rapidly weakening US economy. The great leap is revealed in forecasts for the Financial Times by Global Insight, a US economics consultancy. According to the estimates, next year China will account for 17 per cent of manufacturing value-added output of $11,783bn and the US will make 16 per cent. Last year the US was still easily in the top slot and accounted for a fifth of the total. China was second with 13.2 per cent.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

8/4/2008 | Economy

Will fares go so high that only the rich can fly?

USA Today

Deregulation of the airline industry 30 years ago made air travel affordable to most Americans. Rising airfares threaten to again make flying a service for the affluent. Airfares have risen this summer more than any year in the past quarter century, new studies by airfare experts show. The studies, done by Travelocity, FareCompare.com and Harrell Associates at USA TODAY's request, show that domestic fares this summer are up 12% to 15%, and on some routes, more than 200%.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/29/2008 | Economy, Presidential Issues

Obama to Meet With Bernanke

The Wall Street Journal

As part of a week-long shift back to economic issues, Barack Obama will meet with Federal Reserve Chairman Ben Bernanke on Tuesday, his campaign confirmed. The two are expected to discuss the current credit crisis and Sen. Obama's plans to enforce tougher oversight of financial institutions if elected president. The likely Democratic nominee is also scheduled to speak to Treasury Secretary Henry Paulson by phone Tuesday, campaign officials said. The meetings come as Sen. Obama tries to pivot back to economic issues after returning from a 10-day foreign trip that sparked Republican criticism over his foreign policy credentials.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/28/2008 | Economy

Homeowner rescue awaits President Bush's signature

Yahoo Finance

WASHINGTON (AP) -- Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. It offers a temporary financial lifeline to troubled mortgage companies Fannie Mae and Freddie Mac -- pillars of the home loan market whose losses have sparked investor fears -- and tightens controls over the two government-sponsored businesses.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/22/2008 | Economy

Mortgage giant rescue could cost $25b

Yahoo Finance

WASHINGTON (AP) -- A federal rescue of troubled mortgage giants Fannie Mae and Freddie Mac could cost taxpayers as much as $25 billion, Congress' top budget analyst said Tuesday. But Peter R. Orszag, director of the Congressional Budget Office, predicted in a letter to lawmakers that there's a better than even chance the government will not have to step in to prop up the companies by lending them money or buying stock.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/15/2008 | Economy, Oil and Gas, Presidential Issues

Bush Acts on Drilling, Challenging Democrats

The New York Times

WASHINGTON — President Bush lifted nearly two decades of executive orders banning drilling for oil and natural gas off the country’s shoreline on Monday while challenging Congress to open up more areas for exploration to address soaring energy prices. Democrats in Congress, joined by environmentalists, criticized the step and ridiculed it as ineffectual, while most Republicans and industry representatives applauded it as long overdue. The lifting of the moratorium — first announced by Mr. Bush’s father, President George Bush, in 1990 and extended by President Bill Clinton — will have no real impact because a Congressional moratorium on drilling enacted in 1981 and renewed annually remains in force. And there appeared to be no consensus for lifting it in tandem with Mr. Bush’s action.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/14/2008 | Economy, Presidential Issues

A new American reality: The government as provider

International Herald Tribune

NEW YORK: In a country that holds itself up as a citadel of free enterprise, Washington has morphed from being the lender of last resort into effectively the only resort for home loans for millions of Americans engaged in the largest transactions of their lives. Before, the government's more modest mission was to make more loans available at lower rates. Now it is to make sure the loans that matter most to middle class Americans are made at all. The new reality is scorned by libertarians and conservatives, who fear intrusions by the state in the market, and by populists and progressives, who rue a society in which education and housing increasingly rest upon the government's willingness to finance it. "If you're a socialist, you should be happy," said Michael Lind, a fellow at the New America Foundation, a research institute in Washington. "But you should really wonder whether you want people's ability to pay for housing and college dependent on the motives of people in Washington."

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/11/2008 | Economy

Fannie, Freddie Are Too Big to Fail, Lawmakers Say

Bloomberg.Com

July 10 (Bloomberg) -- Fannie Mae and Freddie Mac, the largest buyers of U.S. home loans, are too big for the government to let them fail, leading Republican and Democratic lawmakers said. The government-chartered companies, which own or guarantee about half the $12 trillion of U.S. mortgages, can count on a federal lifeline, said Republican Senator John McCain, of Arizona, and Democratic Senator Charles Schumer, of New York.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/10/2008 | Economy, Iran

OPEC chief warns of 'unlimited' oil prices if Iran is attacked

International Herald Tribune

VIENNA: The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production. "We really cannot replace Iran's production - it's not feasible to replace it," Abdalla Salem El-Badri, the OPEC secretary general, said in an interview. Iran, the second-largest producing country in OPEC, after Saudi Arabia, produces about four million barrels of oil a day out of the daily worldwide production of close to 87 million barrels.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333Joel Anderson, Assemblyman, California State Assembly
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Major Eric Egland, Author, The Troops Need You, America: Six Ways to Help...
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333Paul "Dave" Gaubatz, Owner-Director, Wahhabi CT Publications
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Jan Markell, President, Olive Tree Ministries
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Kamal Saleem, Shoebat Foundation
Bullet 333Walid Shoebat, President, Shoebat Foundation
Bullet 333Tony Strickland, Taxpayer Advocate

7/9/2008 | China, Economy, Foreign Policy, Presidential Issues

China's economy to become world's biggest in 2035: study

Breitbart.Com

China's economy will overtake that of the United States by 2035 and be twice its size by midcentury, a study released Tuesday by a US research organization concluded. The report by economist Albert Keidel of the Carnegie Endowment for International Peace said China's rapid growth is driven by domestic demand more than exports, and will sustain high single-digit growth rates well into the 21st century. "China's economic performance clearly is no flash in the pan," Keidel writes. "Its growth this decade has averaged more than 10 percent a year and is still going strong in the first half of 2008. Because its success in recent decades has not been export-led but driven by domestic demand, its rapid growth can continue well into the 21st century, unfettered by world market limitation." Keidel said the rise of China to the world's biggest economy will happen regardless of the method of calculation. Under current market-based estimates, China's gross domestic product is about three trillion dollars compared to 14 trillion for the United States. Based on a more controversial purchasing power parity (PPP) measure used by the World Bank and others to correct low labor-cost distortions, he said China's GDP is roughly half of that of the United States.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333Paul "Dave" Gaubatz, Owner-Director, Wahhabi CT Publications
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Rick Green, President, Torch of Freedom Foundation
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Bullet 333Cliff Kincaid, President, America's Survival, Inc.
Bullet 333Gary Marx, Executive Director, Judicial Confirmation Network
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/8/2008 | Economy

Fed plans new rules to protect future homebuyers

Yahoo Finance

WASHINGTON (AP) -- In an effort to prevent a repeat of the current mortgage mess, Federal Reserve chairman Ben Bernanke says the Fed next week will issue new rules aimed at protecting future homebuyers from dubious lending practices. Bernanke also says the Fed may give squeezed Wall Street firms more time to tap the central bank's emergency loan program.

Recommended Guests:

Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate

7/3/2008 | Economy, Foreign Policy, Oil and Gas

Fears, Again, of Oil Supplies at Risk

New York Times

THEY are the nightmares, the worst confluence of misguided decisions and startling violence, that politicians and oil executives ponder briefly and then shoo away: That sympathizers of Osama bin Laden sink three oil tankers in the Strait of Hormuz and choke off the narrow, bow-shaped channel that funnels 14 million barrels a day from the Persian Gulf to the rest of the world. That the United States attacks Iraq, and Israel launches a huge strike against the Palestinians, driving them from their camps and staking out more land -- all of which spurs the Persian Gulf states to cut off oil for the West. Or perhaps that a popular uprising, led by sympathizers of Mr. bin Laden, topples the ruling Saud family in Saudi Arabia, by far the world's largest oil producer.

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Bullet 333Karin Agness, Founder and President, Network of enlightened Women (NeW)
Bullet 333David Bossie, President, Citizens United
Bullet 333Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Bullet 333Tom DeLay, Former House Majority Leader, United States House of Representatives
Bullet 333William Devlin, National President, Redeem The Vote
Bullet 333James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Bullet 333Joseph Farah, CEO, Founder, WorldNetDaily
Bullet 333Paul "Dave" Gaubatz, Owner-Director, Wahhabi CT Publications
Bullet 333James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Bullet 333Colin Hanna, Colin Hanna, President, Let Freedom Ring
Bullet 333Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Bullet 333Larry Hunter, President, The Social Security Institute
Bullet 333Cliff Kincaid, President, America's Survival, Inc.
Bullet 333Joe Murray, Columnist, The Bulletin
Bullet 333Grover Norquist, President, Americans for Tax Reform (ATR)
Bullet 333Tony Strickland, Taxpayer Advocate
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