Will it never be the same?

Well, whether you want to blame the Community Reinvestment Act and the Democrats for the sub-prime mortgage crisis that is perhaps the catalyst for the Global Financial Crisis, or whether you want to blame it all on Bush’s failed economic policies, or whether you want to everyone from the Democrats to the Republicans to the CRA to Wall Street to Joe the Plumber is up to you.

But anyway, that’s not the point of this post. Many already, whether it be at dinner tables or boardroom tables, think the era of US global financial dominance is over. The latest guy to state this is former Reagan economic adviser, Dr Jerry Jordan (BTW, that link’s an mp3).

And from a similar interview to the one in the above link…

Dr Jordan says that when the US economy does recover, it will never be the same.

“What people need to understand about the United States in this environment and probably the British as well, that this is not your garden-variety economic contraction caused by restrictive monetary or fiscal policies to slow things down and cool off inflationary pressures,” he told Radio Australia.

“Rather this is much more the case that we went over the waterfall, we didn’t drown but we’re not able to swim back up to the top, and there’s no amount of monetary or fiscal policy that is going to get us back up to where we were a couple of years ago.

However, at least he’s optimistic that it won’t get too bad, that is, like the Great Depression we saw 85-odd years ago.

“I don’t think depression is the right word,” he said.

“I think of it as a discontinuity from the growth path that we were on before, but the important part is that you cannot use pump-priming of the fiscal type or the monetary type, to get back to the level of car sales furnishings, home appliances [that we saw previously].

“There are literally thousands of stores in the United States that have been boarded up; companies bankrupted out of business by the end of last year, and they’re not coming back into business.

“It’s going to involve a new direction for the economy, but not a restoring of the old level of economic activity.”

Warren Buffet disagrees, however… at least on the recovery bit.

“Five years from now I can guarantee you that the machine will be running fine. But I’d like to get there a lot faster than five years. And we can.”

And will Obama’s stimulus package, the good ol’ Recovery and Reinvestment Act (warning: large PDF) prove Buffet right? At the moment, that’s anyone’s guess. Still, in the meantime, we might as well see who’s getting what.

How to boycott Israel… properly

Ever wanted to give Israel the shaft but just can’t work out the most effective way to do it? Well, easy solutions are at hand.

H/T Geoff of the West over at Bolt’s palace.

Meanwhile, speaking of bashing Israel, Bolt’s asks, “Why are we going to this hate-fest?”

What hate-fest? The United Nations Durban Review Conference to be held in Geneva, but of course. The last one in Durban turned out to be little more than an attack on Israel and her allies.

So, yeah, why go? Oh. For that non-permanent seat on the UN Security Council and we need the anti-Zionist vote to nail it. Rudd has sunk to a new low.

Click the above link for a more detailed analysis.

More related shennanigans is here in case you missed it.

The United Nations will be introducing a totalitarian piece of authoritarianism as a binding resolution in March 2009 in an attempt to force if possible and influence where force is not possible member nations to do away with freedom of speech regarding religion.

They have already passed a non-binding resolution, introduced by the 57-nation Organization of the Islamic Conference which has a permanent place in the United Nations, titled “Combating the Defamation of Religion” which seeks to influence all member nations to pass laws to criminalize freedom of speech regarding religion.

The upcoming proposed binding resolution will be an attempt by the 57-nation Organization of the Islamic Conference and their sympathesizers to force all member nations, including all free western democracies, to criminalize freedom of speech regarding religion, with prejudice toward Islam, effectively shredding the Constitution and first amendment in this country and ending freedom of speech regarding religion in democracies around the world effectively seeking to usher in a new dark ages with a single U.N. binding resolution. – Lou Dobbs

Nyeh, you’re First Ammendment was getting boring anyway, Yanks.

Rant while you can, folks (although it’d be astounding if any of the garbage mentioned in this post were actually adopted).


Andrew Bolt calls for an all-out boycott of the United Nations Durban Review Conference.


No worries, UN Secretary General Ban Ki-moon thinks the Yanks are deadbeats anyway. Gotta love that appreciation. Something about dogs, hands, and biting in there somewhere.

The Coral Fights Back

Coral bleaching – a fait accompli to rising temperatures, you hear. Well, here are some good arguments should you want to tackle that little bon mot at the next dinner party.

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