Posted by
American Conservative on Sunday, December 28, 2008 12:17:19 PM
I do not know why the United Nations really ever came in to power other than an ego trip by some wealthy folks who had vision of world power.
The U.N has done nothing since its birth to stop world hunger, or cure diseases or help children or resolve conflicts or bring world peace. Oh, there are some of you out there right now saying BS.
However, you are wrong; the one Nation who is on the forefront of all of this is the United States of America, we as a nation have shed the blood of our men and women in defense of over 75% of the world. We have taken on world hunger and donated resources and food to the worlds population, our doctors and nurses have gone into the world to train others and to heal and we have tried to help the worlds children by clothing them, and feeding them and giving them water where there was none.
We have done all of this except military superiority through missions and our churches, regular folks like us who have put thier heart and soul into freeing the world and making it a better place to live. Not through government programs, and we here in America are about to embark upon a new era of Government intervention that will spread like wildfire through this nation, making us a nation not dependent upon hard work or wisdom or sharing ideas but much like robots who turn on the daily news to get there list of things to do today.
We must stop this nonsense and rely on American ingenuity to get us through these hard times, and back on our feet. We are the United States of America, we do not bow our knee to any government, or the U.N council who want to make us like Europe, DEFEATED, we are a free nation founded upon rights that are God given and if we do not fight for those rights who will.
One thing about it the U.N is on the forefront of condemning America, and pushing global warming, while it takes a back seat against hamas, and Iran, and Dufar and China and Russia, can do whatever they want.
We live in the greatest Nation in the world and should act like it, stop feeling sorry for ourselves and pushing the blame off on someone else. Turn the news off write your local and national leaders and tell them how you feel we are The United States of America we will not set back and let our Nation fall.
Things are getting better check out this report released on Dec 26 2008
R.Brian Kinnett an American Conservative
Energy prices and mortgage rates are dropping, and the Fed is making sure money is available. In addition, America's competitive strengths remain intact.
Latest Market Update
December 26, 2008 -- 16:15 ET
[BRIEFING.COM] Friday marked an extremely quiet and thinly traded session as many market participants remained on vacation.
By U.S. News & World Report
Let's all hope Barack Obama is wrong when he says that getting the U.S. economy straightened out "will take longer than any of us would like -- years, not months. It will get worse before it gets better." And let's pray that Joe Biden is way off when he says the economy is in danger of "absolutely tanking."
But, to be honest, far more economists would pretty much agree with those pessimistic statements than wouldn't. (Though that is a good contrarian sign.)
Still, there are a number of reasons to think that the economy might -- just might -- shift back into gear faster than most of us think or hope:
1. Plunging oil prices
It was only five months ago that oil prices hit a record $147 a barrel. Now they're below $45, thanks to slowing global demand. At the same time, gas prices have plunged from more than $4 a gallon to around $1.66 nationally. (And some analysts think they're heading to a buck a gallon.)
And just as high energy prices were a drag on the economy last summer, they're giving it a boost heading into 2009.
JPMorgan Chase (JPM, news, msgs) economist James Glassman estimates that the drop in oil prices represents "a boost equivalent to a $350 billion stimulus." To bring that down to the average consumer, Glassman explains, think of it this way: The typical household drives 15,000 miles annually. So a drop in gas prices to, say, $1.50 a gallon would represent a significant savings in their annual gas bills. This could boost GDP growth by as much as 2 percentage points.20
2. Falling mortgage rates
If there's anything falling as fast as energy prices it's mortgage rates. Rates for a 30-year, fixed-rate mortgage fell to a low, low 5.19% last week thanks to the Federal Reserve's pledged efforts to purchase mortgage securities.
That should help housing affordability and the ability of current homeowners to refinance their mortgages.
And even more good news could be on the way if you don't mind Uncle Sam borrowing billions more for yet another bailout: The Treasury Department is reportedly considering a plan to push mortgage rates as low as 4.5% for new homebuyers and, perhaps, even for current homeowners who want to refinance.
More from MSN Money and U.S. News & World Report
Investment strategist Edward Yardeni says that if rates were pushed down to 4%, either via the Fed or Treasury's efforts, the economic impact would be amazing. He figures that the average rate on the $10 trillion in outstanding mortgages is about 6%.
A 2-percentage-point drop would amount to a $200 billion annual tax cut for the 45 million American households with mortgages.
3. Actions by the Federal Reserve
The nation's central bankers have basically said that they'll do whatever it takes to strengthen the economy. They've already pushed short-term interest rates to near 0% and have made it clear that the Fed will buy various debt securities to unfreeze the credit markets. Brian Bethune of IHS Global Insight called the Fed's recent moves "exactly the kind of forceful medicine the economy needs as it plumbs the depths of the current20recession. The Fed's actions will translate into much lower effective borrowing costs in the next few weeks." Certainly this is not your grandfather's Fed. The central bank is pouring money into the financial system. That's a big difference between now and the Great Depression. In the Depression," notes economist Brian Wesbury of First Trust Advisors, "the real problem was that the Fed let the money supply collapse. . . . This is not happening now. The Federal Reserve . . . is adding liquidity to the system as rapidly as it can."
4. Obama's stimulus plan, 2.0
It now looks like Uncle Sam, under the direction of Obama and the new Democrat-controlled Congress, will spend somewhere between $750 billion and $1 trillion over the next two years to boost the economy. The money would be spent, according to analysts, mostly on infrastructure (everything from transportation to broadband to green technology investment) but also on aid to state and local governments and middle-class tax relief.
This plan will probably create somewhat more jobs in the short term than if nothing were done. Obama optimistically hopes for as many as 3 million jobs. The real question is whether his spending plan is the best use of that amount of taxpayer money.
Video on MSN Money
?What's in store for stocks in 2009?
Investment pros weigh in. With John Bogle of Vanguard Group, Abby Joseph Cohen of Goldman Sachs, Paul McCulley of Pimco and Bob Doll of BlackRock. (Dec. 17)
Economists Susan Woodward of UCLA and Robert Hall of MIT are dubious. In their co-written blog, the duo opine that "complicated projects take time to ramp up to high spending and employment levels."
But, most promising is a payroll tax holiday Obama is rumored to be considering. That would put money into the economy much faster than an infrastructure spending plan. Even better, many studies say, would be sweeping tax cuts on incomes, business and capital.
5. America's deep fundamentals
Did you know that the World Economic Forum -- the Davos, Switzerland, people -- for the second straight year judged the United States as possessing the most competitive economy in the world? (Then came Switzerland, Denmark, Sweden and Singapore.)
Among America's strengths: innovation, flexible labor markets and higher education. Not surprisingly, though, our institutions ranked a dismal 29th. (Thanks, Wall Street.)
Overall, the core U.S. economy is in far better shape than it was in the 1970s, with a higher productivity and a better tax and regulatory system. Even though the American economy finally succumbed to the oil shock and the credit crisis in 2008, it held up longer than many predicted, thanks to its deep strengths. Who knows, maybe it will surprise the bears again in 2009.
This article was reported and written by James Pethokoukis for U.S. News & World Report