Dear Leader Barbara Boxer: Please Call Me 'Senator'

Source: http://www.politicsdaily.com/2009/06/17/please-call-me-senator/

Overheard at a Senate hearing yesterday:

"Could you say 'senator' instead of 'ma'am?' It's just a thing. I worked so hard to get that title. I'd appreciate it."

--Sen. Barbara Boxer (D-CA) to Brigadier General Michael Walsh during Senate hearing Tuesday, when he the general repeatedly said, "Yes, ma'am," and "No, ma'am," when answering Boxer's questions at hearing she chaired on New Orleans' levee system.

China sells US bonds to 'show concern'

Source: http://www.breitbart.com/article.php?id=CNG.6cc88b76aff9be3f90f62526a3107ec9.31&show_article=1

Jun 17 03:20 AM US/Easter

A decision by China to reduce its US Treasury holdings suggests concern about the US attitude towards its economic woes, Chinese economists were quoted as saying in state media Wednesday.

The remarks, coming after US data showed a modest decline in Chinese investments in US government bonds, were in contrast to an earlier statement in Beijing which had said the recent sell-off was a routine transaction.

"China is implying to the US, more or less, that it should adopt a more pragmatic and responsible attitude to maintain the stability of the dollar," He Maochun, a political scientist at Tsinghua University, told the Global Times.

According to US Treasury data issued Monday, Beijing owned 763.5 billion dollars in US securities in April, down from 767.9 billion dollars in March.

It was the first month since June 2008 that Beijing failed to purchase more US T-bills.

Zhang Bin, a researcher at the Chinese Academy of Social Sciences, said China's move showed a more cautious attitude.

"It is unclear whether the reduction will continue because the amount is so small. But the cut signals caution of governments or institutions toward US Treasury bonds," Zhang told Xinhua news agency.

China's foreign ministry said Tuesday that its purchases of US Treasuries remained based on "security, liquidity and value preservation".

For Zhao Xijun, deputy director of the Finance and Securities Research Institute of People's University, China may have reduced its holding of US Treasuries simply because it needed the money.

Zhao said the sell-off could have been in order to pay for its own economic stimulus package.

"The reduction was a result of composite factors, such as the investment need and the market change," Zhao told Global Times.

Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium

Bloomberg China, Russia to Use Each Other's Currencies in Trade...

By Lyubov Pronina and Alex Nicholson

June 17 (Bloomberg) -- The leaders of Russia and China agreed to expand use of the ruble and yuan in bilateral trade to lessen dependence on the U.S. dollar a day after they took part in the first summit of the so-called BRIC countries.

“We agreed to take further steps in this direction, including, perhaps, by adjusting contracts and laws that already exist,” Russian President Dmitry Medvedev told reporters in the Kremlin today after talks with his Chinese counterpart Hu Jintao.

Russia, the world’s biggest energy supplier, wants to start selling oil to China in rubles, said Deputy Prime Minister Igor Sechin, who is also chairman of OAO Rosneft, Russia’s biggest oil company. Energy sales in rubles are a “strategic” issue for Russia, he said, adding that oil exports to China over the next 20 years will surpass $100 billion.

Brazil, Russia, India and China agreed yesterday to push for more clout in global financial institutions during what Medvedev called BRIC’s “historic” first summit in the Ural Mountains city of Yekaterinburg. China and Russia have called for a more diversified financial system to give emerging economies a bigger say in economic affairs, including the creation of alternatives to the U.S. dollar as a reserve currency.

‘Symbolic Value’

“Expanding the use of national currencies in mutual settlements is a separate, important task,” Medvedev said. China has the world’s biggest foreign-currency reserves, almost $2 trillion, while Russia is third with more than $400 billion.

The ruble weakened 0.1 percent to 31.2396 against the dollar in Moscow today after earlier strengthening as much as 0.4 percent. The yuan was little changed against the dollar on speculation China will prevent appreciation to avoid a prolonged slump in the nation’s exports.

It will take “at least a couple of years” to start converting the first contracts into domestic currencies, said Elina Ribakova, Citigroup Inc.’s chief economist in Moscow.

Today’s announcement has “important symbolic value,” she said. “If you take a 10- or 20-year perspective, trade between Russia and China will increase significantly.”

Total trade between the neighboring countries reached a record $56.8 billion last year, according to the Kremlin.

After today’s Moscow meeting, Russia and China signed an agreement worth $3 billion to cooperate in trade and investment in areas including light industries, high technology and energy.

U.S. Deficit

The dollar’s status has come into question as leaders of the BRIC nations consider substituting other assets for their dollar holdings amid a ballooning budget deficit that keeps the U.S. dependent on foreign financing. China alone owns about $744 billion of U.S. Treasury bonds among its $2 trillion of foreign- exchange reserves.

Russian central bank First Deputy Chairman Alexei Ulyukayev’s comment on June 10 that Russia may sell some of its U.S. bonds to buy International Monetary Fund notes helped push 10-year yields on Treasuries to the highest level since October.

Brazilian President Luiz Inacio Lula da Silva today denied that BRIC leaders discussed buying each other’s bonds at the Yekaterinburg summit, after Medvedev’s top economic adviser said the matter might be discussed.

Dollar bonds sold by China earned 11.4 percent in the past year, more than double the 4.6 percent for debt in yuan, JPMorgan Chase & Co. indexes show. Brazil’s U.S. currency bonds returned 3.6 percent as real-based notes lost 4.9 percent, and Russia’s dollar bonds outperformed with a 1.9 percent loss compared with a 7 percent drop in ruble debt. India doesn’t have dollar-denominated debt.

To contact the reporter on this story: Lyubov Pronina in Moscow at lpronina@bloomberg.net; Alex Nicholson in Moscow at anicholson6@bloomberg.net

Last Updated: June 17, 2009 10:26 EDT

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSTmuCr.RD88

ABC REFUSES OPPOSITION ADS DURING WHITE HOUSE SPECIAL

Source: http://www.drudgereport.com/flashaot1.htm

Wed Jun 17 2009 15:15:00 ET

ABC is refusing to air paid ads during its White House health care presentation, the DRUDGE REPORT has learned, including a paid-for alternative viewpoint!

The development comes a day after the network denied a request by the Republican National Committee to feature a representative of the party's views during the Obama special.

Conservatives for Patients Rights requested the rates to buy a 60-second spot immediately preceding 'Prescription for America'.

Statement from Rick Scott, chairman of Conservatives for Patients Rights:

"It is unfortunate - and unusual - that ABC is refusing to accept paid advertising that would present an alternative viewpoint for the White House health care event. Health care is an issue that touches every American and all potential pieces of legislation have carried a pricetag in excess of $1 trillion of taxpayers' money. The American people deserve a healthy, robust debate on this issue and ABC's decision - as of now - to exclude even paid advertisements that present an alternative view does a disservice to the public. Our organization is more than willing to purchase ad time on ABC to present an alternative viewpoint and our hope is that ABC will reconsider having such viewpoints be part of this crucial debate for the American people. We were surprised to hear that paid advertisements would not be accepted when we inquired and we would certainly be open to purchasing time if ABC would reconsider."

Developing...

Common Sense Solutions for Socialists

From A Letter on Glen Beck's Website

The fact is I no longer feel any political party or representative in Washington represents my views or works to pursue the issues important to me.

[Historically we are always represented because of elections but this group is openly denying what our past founders desired]

Well, these are briefly my views and issues for which I seek representation:
One, illegal immigration. I want you to stop coddling illegal immigrants and secure our borders. Close the underground tunnels. Stop the violence and the trafficking in drugs and people. No amnesty, not again. Been there, done that, no resolution. P.S., I'm not a racist. This isn't to be confused with legal immigration.

Two, the TARP bill, I want it repealed and I want no further funding supplied to it. We told you no, but you did it anyway. I want the remaining unfunded 95% repealed. Freeze, repeal.

Three: Czars, I want the circumvention of our checks and balances stopped immediately. Fire the czars. No more czars. Government officials answer to the process, not to the president. Stop trampling on our Constitution and honor it.

Four, cap and trade. The debate on global warming is not over. There is more to say.

Five, universal healthcare. I will not be rushed into another expensive decision. Don't you dare try to pass this in the middle of the night and then go on break. Slow down!

Six, growing government control. I want states rights and sovereignty fully restored. I want less government in my life, not more. Shrink it down. Mind your own business. You have enough to take care of with your real obligations. Why don't you start there.

Seven, ACORN. I do not want ACORN and its affiliates in charge of our 2010 census. I want them investigated. I also do not want mandatory escrow fees contributed to them every time on every real estate deal that closes. Stop the funding to ACORN and its affiliates pending impartial audits and investigations. I do not trust them with taking the census over with our taxpayer money. I don't trust them with our taxpayer money. Face up to the allegations against them and get it resolved before taxpayers get any more involved with them. If it walks like a duck and talks like a duck, hello. Stop protecting your political buddies. You work for us, the people. Investigate.

Eight, redistribution of wealth. No, no, no. I work for my money. It is mine. I have always worked for people with more money than I have because they gave me jobs. That is the only redistribution of wealth that I will support. I never got a job from a poor person. Why do you want me to hate my employers? Why what do you have against shareholders making a profit?

Nine, charitable contributions. Although I never got a job from a poor person, I have helped many in need. Charity belongs in our local communities, where we know our needs best and can use our local talent and our local resources. Butt out, please. We want to do it ourselves.

Ten, corporate bailouts. Knock it off. Sink or swim like the rest of us. If there are hard times ahead, we'll be better off just getting into it and letting the strong survive. Quick and painful. Have you ever ripped off a Band Aid? We will pull together. Great things happen in America under great hardship. Give us the chance to innovate. We cannot disappoint you more than you have disappointed us.

Eleven, transparency and accountability. How about it? No, really, how about it? Let's have it. Let's say we give the buzzwords a rest and have some straight honest talk. Please try please stop manipulating and trying to appease me with clever wording. I am not the idiot you obviously take me for. Stop sneaking around and meeting in back rooms making deals with your friends. It will only be a prelude to your criminal investigation. Stop hiding things from me.

Twelve, unprecedented quick spending. Stop it now.

Patriotic Americans are willing to do right by us and our Constitution and that is all that matters to us now. We are going to fire all of you who abuse power and seek more. It is not your power. It is ours and we want it back. We entrusted you with it and you abused it. You are dishonorable. You are dishonest. As Americans we are ashamed of you.

Call to New Leaders:

If you do or can represent us, these issues, and views, please stand up.

Make your identity known. You need to make some noise about it.

Speak up. I need to know who you are.

We are coming. Are we coming for you? Who do you represent? What do you represent? Listen. Because we are coming. We the people are coming.


http://www.glennbeck.com/content/articles/article/198/26742/ 6/17/2009 3:50 PM.

Obama's Inauguration Cost $150 Billion!!!

This dwarfs the $42.3m spent on George Bush’s inauguration in 2005 and the $33m spent on Bill Clinton’s in 1993.

Q: Where were our major public media who attacked Bush for spending his 33 million?
A: That spin is a far cry from four years ago, when the AP seemed interested in spurring resentment of the Bush inaugural’s supposedly high cost. Of course, displays of Republican wealth are routinely slammed by the media as elitist or aristocratic, while reporters seem to consider rich Democrats as stylish paragons whom we all should copy.

Who Does Socialism Really Feed?

Taxpayers footed the bill for the big night on the town which included a total of at least $24,000 for the three aircraft used to ferry the Obamas, aides and reporters to and back. Dinner costs and orchestra seat tickets — at $96.50 apiece — were paid by the Obamas.

This Spring Michelle Obama determined to plant a garden in the White House because so many seem to be missing meals. Many who understood the cost of fashion noted sadly how Michele brought her $540 keds into her new garden.

Is anyone not seeing that this is almost like King Louis and Maria Antoinette redux. Barack and Michelle Obama wine, dine at one of NYC’s elite restaurants and then take in a play while on Monday GM will be declaring bankruptcy, 14 plants will begin the process of closing, 1000’s of workers will lose their job as well as numerous dealerships will cease to exist.

http://scaredmonkeys.com/2009/06/01/barack-and-michelle-obamas-excellent-date-in-new-york-city-while-we-have-run-out-of-money-sacrifice-let-them-eat-cake/ 6/13/2009 9:21 AM.