For everyone that has a Facebook account, the status updates can be a powerful tool to get your opinions across to your friends-sometimes I just can’t believe what some people say! A closet socialist friend of mine posted a congratulatory post about Obama’s Nobel Peace Prize…

It was a pretty harmless post and so I posted a question, “can you tell me what he did because I really don’t know & didn’t he just deploy troops to Afghanistan?” She agrees with me and then proceeds to write that he (Obama) could’ve done more in nine months and that he has so much to clean up after Bush destroyed the US in eight years. Then she proceeds to ask me if I am a conservative.

I proudly stated in my next post that I am a Libertarian and a Capitalist and that is the foundation of what everything in this country is built on so that she can enjoy the freedom and luxury that she enjoys today. I said that Obamanator, my nickname for Obama, is trying to make this country no better than Canada or Europe and I asked her if she thinks those countries are free. Then another post came in from another friend defending the notion that Canadians and Europeans are the happiest and the freest people he has met and that Capitalism and America don’t go hand in hand. I then posted a question asking why people all over the world would kill to come to the US if Canada & Europe is so great. No comment came after that.

****************************************SPECIAL OFFER***********************************

Government policy drives markets. With trillions of dollars being spent by Congress and doled out by the Federal Reserve in one bailout plan after another, we all need to think about how these programs will affect our financial positions.

Will we experience hyperinflation, the kind that can wipe out our life savings? Or will these targeted bailouts stimulate tremendous growth in certain industries?

In one of my favorite movies, Rounders, Matt Damon relates that in poker “if you can’t spot the sucker in the first half hour at the table…you are the sucker.“  Read my book, Obamanomics: How To Invest Over the Next Administration to make sure government policies don’t make you the sucker!

*******************************************************************************************

Please join our cause and subscribe via e-mail if you want to continue following these updates and fight to preserve our Constitutionally protected freedoms

Then a post from a different person came in defending two concrete things that Obamanator has done:

1. Banning torture via executive order right after taking office
2. Opening up direct talks with Iran

If those are the only concrete reasons why Obama got the Nobel Prize then it really undermines what past Nobel winners have done. No comments after that.

Another post came in from another friend, “Wow I didn’t know this about you.” I then wrote, “Yeah I enjoy the freedom our country offers me… the ability to pursue whatever I want to do, not what the Government tells me to do.” Then she proceeds to ask, “Are you open minded at all?” I couldn’t comment because a big “WOW” was the only thing I can think of saying. But I mustered enough to write, “I believe that the Government was in place to protect the people of this country not to run healthcare, create “jobs” funded by taxpayer money or punish anyone even if they make more money than you.”

After five more miscellaneous posts from multiple people of her network of friends she writes this (note this is unscripted and my commentaries and thoughts are in (brackets)):

“FYI – the Government doesn’t run this country, Lobbyists from Capitalist America do! (OMG) AIG, BofA, your friends on Wall Street. They also own mainstream media. So, just because you watch CNN every night – don’t think for a second you’re getting all the facts. Corporate America brought his country down – we may just go down in history like the Romans, if we keep allowing money and greed run this country.

Do you have credit cards? Then, they got you where they want you! You’re not FREE! You don’t own your car or your house – it’s all built on credit. The banks own you! Our grandparents bought their house and cars with cold hard cash. You don’t hear that anymore… The America we once knew is gone!

And healthcare? The insurance industry is a total scam! Freedom for all = healthcare for all! If the powers that run America are smart – they would allow socialized healthcare – you need to keep our slaves healthy, right? Keeping your people healthy and alive is what will keep this country strive! But no, they only see profit from sick people. Your employer can claim millions through their insurance company if you were to drop dead tomorrow. You’re worth more dead than alive. This is Capital America folks. Capitalism FTW!” (WoW!)

After the deliberating awe I wrote:

“You know what’s funny I own my car I have a debt of $150 from the Jason Mraz concert tickets that I just bought which I will pay off today. My debt is my student loan and because I have a degree and I am in a certain tax bracket I have to pay more taxes than most people. I worked hard for my money what gives the Government the right to take it from me?

Yeah I will pay my fair share so that I can feel safe in this country, but to bail businesses out using tax money … come on! People have a choice to put themselves in debt or not. You don’t have to buy a BMW and then blame the banks for screwing you because you can’t afford it. This country is great because each person is entitled to their choice.

You take choices away from people this country will become just like any other country.”

Then she writes back (note this is unscripted and my commentaries and thoughts are in (brackets)):

“Did you pay for your car in cash? How many American’s these days buy a car or home with cash? Student loans are just as bad.

And your student loan, is this through a bank (through private lenders)? Does it have an interest rate? A loan is another line of credit.

You can thank the Capitalists of this country for your tax increases. The lobbyists who give tax breaks to the biggest corporations of America and the CEO’s and board of directors. They have their own tax people to help them find ways through the system to pay less taxes than the middle class. There’s Capitalism for you!

The Capitalists on Capitol Hill bailed out their friends on Wall Street. There’s Capitalism for you!

The banks screw us = sub prime loans. Remember those? Going out to the poorest parts of the country and scamming these poor people into thinking they can afford a house with a 20% APR?! There’s Capitalism for you!

Choices are great to have. I agree. I don’t agree however to have an insurance company call me and tell me that they won’t insure me because I’m at risk (i.e. heart disease or diabetes). I don’t agree with the insurance company that tells me they will only cover 85% of my hospital bill – when I’ve been paying $200/per paycheck to BE COVERED.

Hmm…and then there was cancer. Did you know that Europe’s food laws and regulations are more strict compared to America? Did you know that Europeans are healthier? Why? Did you know that you can prevent and heal cancer by simply changing your diet? Of course not. Did you know that the FDA and American Cancer Society are ran by the big Pharmaceutical Companies? They don’t want to find a cure. That won’t make a profit for them. Instead, they’ll just treat your conditions and call it a pill.

That’s what Insurance wants you to do — pay anything (out of pocket) to see any doctor you wish to see. Less expenses for them…but at the same time you’re still obligated to pay your insurance premiums. Where’s the freedom or the choice in that?

Seeing a Physician in Spain is simple. They come to your home, to your bedside and check your vitals. America once had that. But the insurance companies thought that was NOT good profit practice. There’s Capitalism for you!

I love this country. I loved it even more before Capitalism came into play.” (Double WOW!)

After getting over the initial shock of the comment I posted:

“You know Universal Health care is not 100% free. So if we have Universal Healthcare we have to pay for that and also pay for medicare, medicaid and social security which we will probably not be able to take advantage of since this country is in so much debt.

I think you need to remember that the Government instilled this notion that the American dream is to buy a home (put yourself in debt) so the government gave you subsidies to do it and demanded that these “bad” banks give out loans to certain population that probably could not afford a mortgage.

So tell me what do you suggest we do? Get rid of corporations that you probably work for and any profit that the company makes should be split evenly from the janitors to the CEO? Put a cap in how much people can make per year? If you have your own business you would see things in a different light.

Oh FYI the FDA is a government entity that’s why it’s harder for pharmaceutical companies to send drugs out in public. I am a contractor to the Government and I see everyday how it is operated. If our country is operated like that we should just sit around put our palms up and hopefully Uncle Sam will “save” us.

Oh and one more thing the President bailed out the guys in Wall Street.

Oh and one more, sorry… If you really dislike how America is today everyone is at their liberty to leave. ”

No other intellectual comments came after that.

.

You just finished reading Socialists love Facebook! on The Freedom Factory. Please consider leaving a comment!

Government detention camps cover up deaths-does America have a human rights problem? Congress passes unprecedented $3.6 trillion budget with $1.2 trillion deficit, official unemployment rates his 8.5%-some economists claiming they are really upwards of 20%, government mortgage giants Fannie and Freddie to pay $159 billion in new bonuses, Obama calls end to ‘Pax Americana’, world leaders pledge $1.1 trillion to IMF, Russia refuses to remove troops from Georgia, NY protesters call for government to ‘Bail out the People’, Hugo Chavez declares that ‘Capitalism must end,’ and Treasuries drop with announcement of next week’s $59 billion note issue and Goldman Sachs estimate that government will need to borrow another $3.25 trillion this year…

Immigrant Deaths Buried In Bureaucracy In Government Camps. A patchwork of over 500 camps, detention centers, and prisons have sprung up across the U.S. that currently hold more than 500,000 people. The stated purpose of the camps is to detain immigrants in process of deportation, but critics claim that secrecy and lack of legal accountability shield the system from independent oversight. One recent case, the death of a Pakistani New Yorker, highlights the insidious nature of the system. Ahmad Tanveer, 43, died on Sept. 9th, 2005 from untreated chest pains while in custody in New Jersey. Inquiries into the death were rebuffed by jail officials, and complaints to the Department of Homeland Security were forgotten. Even when Congressional and media pressure on Immigration and Customs Enforcement led government to release a list of those who had died in custody, the man’s name was not included. This raises serious concerns about human rights violations within our own borders, and the growing power and lack of accountability of the governing class.

Congress Passes Budget Plans, No Republican Support. In a spirit of anything but bipartisanship, Congressional Democrats approved an ‘Obama-friendly’ budget that calls for $3.6 trillion in spending for 2009, with a $1.2 trillion deficit, the largest in history. Not a single Republican supported in either the House or Senate. The bill points the way forward for major legislation later this year on health care, energy, and education, all priorities outlined by President Obama. Blaming the country’s problems on the Bush administration, Senate majority leader Harry Reid justified the unprecedented spending by saying “It’s going to take a lot of work to clean up the mess we inherited, and passing this budget is a critical step in the right direction.” Ironically, the inherited ‘mess’ of which Sen. Reid speaks involved too much deficit spending by Republicans in the past.

U.S. Unemployment Rate Hits 8.5%. The U.S. economy shed another 663,000 jobs in March, bringing the tally up to 5.1 million jobs lost since the start of the recession. The Bureau of Labor Statistics (BLS) reported that unemployment has risen to 8.5% from 8.1% in February, its highest levels in a quarter-century. There is controversy over the accuracy of government unemployment statistics, particularly with the method in which they are calculated. Alternative economic analysis suggests real unemployment rates may be as high as 20%:

Fannie and Freddie To Pay $159 Million In Bonuses. Just a few weeks after retention bonuses at American International Group (AIG) became a national scandal, Fannie Mae and Freddie Mac, the two government-owned mortgage giants, released plans to pay an additional $159 million in bonuses to retain key employees. This comes on top of nearly $51 million already paid out last year for the same purpose. The bonus plans were disclosed to the Senate by the Office of Federal Housing Enterprise Oversight. This is a slap in the face to private businesses that are being harassed by government for fulfilling contractual employment obligations.

Obama Calls End to American Empire. Speaking at the G20 Summit in London this week, President Obama called for an end of the ‘Pax Americana’ and heralded a Global New Deal. The chief objectives of the President were come to an agreement on more global financial regulations, and to gain commitments by national governments for concerted stimulus spending.

World Leaders Pledge $1.1 Trillion To IMF. Concluding the Group of 20 (G20) Summit in London this week, world leaders announced a staggering $1.1 trillion funding commitment-$750 billion in funding, and $250 billion in trade credits-to the International Monetary Fund (IMF) to assuage damage of the economic downturn. Speaking without Congressional approval, the President pledged $100 billion from the U.S. It is not yet clear exactly how the IMF will use these funds. NYU economist and author, William Easterly, is an outspoken critic of international aid organizations like the IMF, pointing out that they are costly, bureaucratic, wasteful, and ineffective. Here’s a quick article Easterly wrote called “Why Doesn’t Aid Work?”

Two books Easterly wrote on the subject:

In The White Man’s Burden: Why The West’s Efforts To Aid The Rest Have Done So Much Ill And So Little Good Easterly contends that the West has failed, and continues to fail, to enact its ill-formed, Utopian aid plans because, like the colonialists of old, it assumes it knows what is best for everyone.

Existing aid strategies, Easterly argues, provide neither accountability nor feedback. Without accountability for failures, he says, broken economic systems are never fixed. And without feedback from the poor who need the aid, no one in charge really understands exactly what trouble spots need fixing.

Economists have long tried to figure out how poor countries could attain higher living standards. Attempted remedies have included providing foreign aid, investing in machines, fostering education, controlling population growth, and making aid loans as well as forgiving those loans on condition of reforms. None of these solutions has delivered as promised. The problem is not the failure of economics, William Easterly argues, but the failure to apply economic principles to practical policy work. In The Elusive Quest For Growth: Economists’ Adventures And Misadventures In The Tropics William Easterly shows how these solutions all violate the basic principle of economics, that people–private individuals and businesses, government officials, even aid donors–respond to incentives. Easterly first discusses the importance of growth. He then analyzes the development solutions that have failed. Finally, he suggests alternative approaches to the problem.

Russia Defies Intentional Calls For Troop Withdrawals From Georgia. Nearly eight months after the war between Russia and Georgia, Russian troops continue to hold large swaths of Georgian territory they previously committed to cede. Under conditions of the cease-fire, the militaries of both sides were to return to positions they held before the start of the conflict, which erupted on Aug. 7th, 2008.

New York Protesters Want Government to ‘Bail Out The People.” Protesters asking the government to ‘bail out the People’ are holding a rally on Wall Street today. They say they should get some of the billions of dollars being spent to save big businesses. They plan to repeat the protest on Saturday with chanting and drumming.

Venezuela’s Chavez Says ‘Capitalism Must End.’ Venezeulan President Hugo Chavez on Friday criticized the G20 summit, saying that Capitalism is in crisis and must end. He took aim at pledges of more than $1.1 trillion for lending to struggling countries, calling it “the same medicine that’s killing the patient-a trillion dollars…more money for a bottomless pit.”

Treasuries Drop As Traders Focus On Record Debt Supply. Treasuries fell on Friday as the U.S. Treasury prepared to sell an estimated $59 billion in notes and inflation-indexed securities next week, part of a record amount of debt the government is likely to issue this year. Analysts estimate that the U.S. will need to borrow $3.25 trillion for the 2009 fiscal year ending Sept. 30th.

You just finished reading Freedom Under Fire, Apr. 3rd, 2009 on The Freedom Factory. Please consider leaving a comment!

Government says government owns AIG, U.S. weighs invasion of Pakistan to fight Taliban, cocaine trade funds Peruvian rebellion, consumer prices jump more than expected-what happened to deflation? Obama wants more control of financial institutions to ‘protect taxpayers,’ White House readying to join war against Mexican drug cartels, Czechs end U.S. missile treaties amidst ‘large-scale’ Russian rearming…just the latest in your Freedom Under Fire Report!

Barney Frank Says Congress Owns A.I.G. In another inquisition, Congress grilled executives from American International Group (A.I.G.). A.I.G. bonuses were the source of the outrage, with Rep. Barney Frank (D-MA) going so far as to harangue “We are the effective owners of this company” and suggesting a lawsuit to recover the $165 million in bonuses. Edward Liddy, A.I.G. CEO, said that although the bonuses were “distasteful,” they were the result of the company’s legal obligation to honor its employment contracts. Rep. Gary Ackerman (D-NY) said that the taxpayer knows he is the “ultimate sucker” in the A.I.G. debacle. Hopefully these taxpayers realize it was the federal government that took their money and “invested” it on their behalf, making them suckers.

U.S. Weighing Invasion of Pakistan to Fight Taliban. President Obama and his national security advisers are considering expanding the covert war in Pakistan far beyond the current tribal areas to strike at the center of Taliban power in Baluchistan.

Cocaine Trade Funds Peruvian Rebellion. The violent Peruvian rebel group The Shining Path has turned to the cocaine trade to fund a renewed insurrection. As the military and the rebels skirmish for control of isolated coca-producing hamlets, the reports of rising body counts and civilians killed in the cross-fire are mounting. The guerrillas killed at least 26 people in 2008, including 22 soldiers and police officers.

First the soldiers came to Rio Seco, a coca-growing village in the lush mountain jungles of southern Peru. ‘They called us subversives and they opened fire. They shot dead four people at close range, including a woman who was five months pregnant.

Four months later, the guerrillas arrived, accusing the villagers of helping the military. They abducted the village leader, who has not been seen since.

America’s War on Drugs continues to have severe consequences across the world.

Consumer Prices Rising More Than Forecast. The consumer price index rose 0.4% in Feb., following a 0.3% rise in Jan. The gains pushed the core inflation rate up to 1.8%, within the range Fed officials target as their objective. These figures reduce the odds of the feared ‘deflationary spiral’ many projected would follow last year’s asset crashes.

Worried about inflation? Does the Federal Reserves scare rather than comfort you? Peter Schiff was one of the few who predicted the financial crash last year. He predicted the housing crash of 2007. And now he predicts a Treasury and U.S. dollar collapse as our government tries to borrow, inflate, and spend its way out of our current problems.

For practical ways to shield your portfolio from the coming storm, check out Crash Proof, in which he explains America’s problems and points to how you can protect yourself.

Obama Wants More Control of Financial Institutions. President Obama said Wed. that he wants greater regulation of financial institutions so taxpayers won’t be left “holding the bag” when companies fail. Obama derides Wall Street by saying bonuses are a symptom of a culture that promotes “excess greed, excess compensation, excess risk-taking.” What is not discussed, however, is that the simplest way to protect taxpayers from all of these vices is to refrain from taking their wealth and investing it on their behalf in dying companies, i.e. A.I.G.

Obama Readying To Join Mexico’s Fight Against Drug Cartels. The Obama administration is preparing to send federal agents to the Mexican border as reinforcements in the fight against Mexican drug cartels. An easier solution to win the war on drugs overnight is to legalize them. Or we can continue to spend hundreds of billions, militarize the border and police forces nationwide, build new prison capacity, and send military missions across the world to fight producers and cartels.

Czechs Halt U.S. Missile Treaties. The Czech government withdrew treaties committing the country to the U.S. missile defense shield. The missile defense project was heavily pushed by the Bush administration, but has not received comparable support from President Obama, who has thus far refused to commit. Russia deeply opposes the project, which it views as an aggressive encroachment on its border. This is one of the reasons for Russian President Medvedev’s announcement of ‘large-scale rearming.’

You just finished reading Freedom Under Fire, Mar. 18th, 2009 on The Freedom Factory. Please consider leaving a comment!

The trade wars begin-Mexico raises tariffs on U.S. exports in retaliation of truck project cancellation, Obama angry at A.I.G. over bonuses-tries to cut them, small businesses to be next bailout beneficiaries, government tries to track down and confiscate Madoff assets-who will keep them? China uses global downturn to boost competitive advantages, Jon Stewart rips apart Jim Cramer in debate on poor financial reporting…just the latest in your Freedom Under Fire Report!

Mexico Raises Tariffs on U.S. Exports. Mexico announced plans to raise tariffs on almost 90 U.s. exports. The new trade measures are in retaliation for the cancellation earlier this year of a U.S. commercial trucking project and will target industrial and agricultural products. The global trade war continues to heat.

Obama Tries to Block A.I.G. Bonuses. President Obama ordered the Treasury Department to “pursue every single legal avenue to block these [A.I.G.] bonuses” and make the American taxpayers whole. A.I.G. received $160 billion in federal aid in the last year, and has used about $1 billion to pay “retention bonuses” to key employees.

No rational person would dispute that A.I.G. executives should not receive $165 million bonuses. The current ‘rationale’ for this largess is that the contractual agreements would cost more money to unwind than to pay upfront. These payments are an affront to ‘pay for performance’: A.I.G. lost $61.7 billion last quarter- the largest loss in corporate history. Also, A.I.G. lost $90 billion to counterparties on mortgage investments. The counterparties that won at AIG and the tax payer’s expense were: Goldman Sachs ($12.9 b), Societe Generale ($11.9 b), Deutsche Bank ($11.8 b), Barclay’s ($8.5 b), and Merrill Lynch ($6.8 b). Finally, it appears we agree with Rep. Barney Frank on something!

Small Businesses to Receive The Next Bailout. In an effort to ease freezing credit markets for small businesses, the Obama administration will inject $15 billion, buying up securities that are linked to small-business loans. President Obama says that “This is still just going to be a first step in what is going to be a continuing effort to make sure that people get credit out there.”

Government Tracking Down Madoff Assets to Confiscate. Federal prosecutors filed a notice in federal court on Sunday evening declaring their intent to seek the forfeiture of a wide swatch of property owned by Bernard and Ruth Madoff. The Madoff’s net worth was estimated to be $823 million at the end of 2008. The big question will be who gets to keep the assets once seized? Government or the victims?

Chinese Invest $600 billion to Make Country More Productive. Chinese leaders are turning economic crisis into competitive advantage, investing an aggressive $600 billion stimulus package to make companies better able to compete in markets at home and abroad, to retain migrant workers on an immense scale and to rapidly expand subsidies for research and development. Railways and roads are being improved to decrease transportation costs for commerce. Meanwhile, the U.S. is squandering the last of its remaining borrowing and printing capacity to prop up bad businesses and subsidize consumption, including housing.

Stewart trounces Cramer in debate. Last Thursday, Jon Stewart hosted Jim Cramer on The Daily Show after the pair indirectly insulted one another the previous week. In the interview, Stewart unrelentingly attacks Cramer and CNBC for poor reporting prior to, and during the financial crisis. Is this fair to Cramer? Yes! As Stewart points out, his show sells ‘snake-oil’ to unsophisticated, retail investors, despite the ‘small print’ disclaimer displayed prior to the show. However, it is not fair to CNBC as a whole. The network solicits a wide variety of opinions and interviews from both the bulls and bears. As always, the investor must ultimately choose where to deploy their capital. Caveat Emptor!

You just finished reading Freedom Under Fire, Mar. 16th, 2009 on The Freedom Factory. Please consider leaving a comment!

Obama considers taxing health benefits-could be “the largest middle-class tax increase in history”, A.I.G. finally releases names of beneficiaries of taxpayer money, and Hugo Chavez sends troops and warships to seize Venezuela’s transportation nodes…just the latest in your Freedom Under Fire Report!

Obama Considers Taxing Health Benefits. President Obama is signaling to Congress that he would support taxing employee health benefits to help pay for socialized health care. During his presidential campaign, President Obama opposed such a tax on health benefits, labeling it “the largest middle-class tax increase in history.”

A.I.G. Lists Firm Names It Paid With Taxpayer Money. American International Group (A.I.G.) received $170 billion in taxpayer assistance since last fall. It has used those funds to pay out a multitude of creditors, municipalities, and companies with whom it held liabilities. Until this weekend the list of beneficiaries of taxpayer money was shielded from taxpayers by the Federal Reserve and A.I.G. Mounting Congressional pressure to disclose the beneficiaries resulted in the company disclosing the top 80 corporations and municipalities this weekend. Tens of billions of funds were paid out to foreign companies, as well.

Venezuela’s Chavez Seizes Transportation Hubs. Venezuelan President Hugo Chavez sent naval warships and troops to seize all transporation hubs in an effort to crack down on opposition leaders in key provinces. Chavez claims the moves are to crack down drug smuggling.

You just finished reading Freedom Under Fire, Mar. 15th, 2009 on The Freedom Factory. Please consider leaving a comment!

Will stocks skyrocket after this week’s mark-to-market House meeting? Federal stimulus raises concerns over state sovereignty, Obama targets defense contractors, IMF marching towards Global New Deal, feds hold auto meeting to determine government involvement, and the U.S. dollar reaches highest level since 2006…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Stocks Could Skyrocket After Congress Meets on Mark-to-Market Rules. Investors are hopeful that stocks could soar next week after a House financial services subcommittee meeting on mark-to-market regulations. The meeting is expected to discuss potential relaxation of rules in which companies are required to continuously update asset values to reflect current market conditions, rather that marking them at what the firms believe to be their true life-time value. Mark-to-market rules are widely blamed for systemic financial institution failures following the collapse of the housing market in 2007.

Federal Stimulus Money Sparks Fight in States. State legislatures are bickering as billions of federal stimulus dollars come their way. The chief concerns are over the types of federal strings that will come attached to the money. In particular southern conservatives fear the imposition of a liberal agenda, while others disagree with the requirement to employ workers at inflated union wages mandated by President Obama. For instance, legislators in Nevada typically pay construction workers $15 per hour, while the federally funded projects would require union-equivalent wages of $46 to $57 per hour. The more money states take from the federal government the less say they will have in how they govern themselves, which is a critical element in a Republic.

Here’s another good article on how the stimulus money is raising state sovereignty issues.

Obama Targets Cutting Defense Contractors. Details are not yet clear as to how he intends to do so, but President Obama has clearly put defense contractors on notice that cuts are coming their way. Obama fired a surprise broadside at the defense industry, saying that he intends to clamp down on practices that have resulted in billions of dollars in cost overruns and delays. “I recognize the real choice between investments that are designed to keep the American people safe and those that are designed to make a defense contractor rich.” It is not yet clear how this rhetoric will manifest itself in the 2010 budget, but critics fear Obama will merely replace contract workers with government union workers, which will only increase long-term costs and diminish efficiency.

Marching Towards Global New Deal: IMF Urges Global Financial Rules. The International Monetary Fund (IMF) urged a new system of global government oversight of hedge funds, private-equity firms, and other financial institutions whose failure poses systemic risk to the world economy. IMF proposals also include moves to dramatically widen the scope of international financial regulation. They are suggesting that governments adopt a “binding code of conduct across nations” to coordinate how and when they would intercede in troubled firms, and how to share losses from major financial institutions that operate across borders.

Government Holds Auto Meeting to Determine Way Forward. The White House held a meeting on Friday to try to determine “how to be the best partner” for the struggling U.S. auto industry. Combined, General Motors and Chrysler have thus far received $17.4 billion in loans and are requesting at least another $21.6 billion in aid. The question on the table is whether or not the federal government will commit further taxpayer funds to these dying firms, or let them fail.

U.S. Dollar Reaches Highest Level Since 2006. The dollar reached the highest level since 2006 against the currencies of six trading partners. This comes as investors seek safety after American International Group (AIG) got more government funding and Federal Reserve Chairman Ben Bernanke warned that the banking system was not yet stable.

You just finished reading Freedom Under Fire, Mar. 7th, 2009 on The Freedom Factory. Please consider leaving a comment!

Republicans block spending bill in Senate over earmarks, Federal Reserve refuses to disclose identify of aid recipients-Senate challenges disclosure, America now has its first CIO, Obama says there is no time to delay Socialized health care, lawsuit attacks Craigslist in challenge to Web privacy, Chinese central bank sees signs of recovery, Germany in uproar of GM mismanagement…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Senate Republicans Block Bill Over Earmarks. Senate Republicans blocked the $410 billion omnibus spending bill today, forcing Congressional Democrats to prepare a stopgap budget resolution to keep the federal government from shutting down.

Senate Demands Federal Reserve Disclose Who Got Money from AIG Bailout. In a shocking bout of defiance, the Federal Reserve is refusing to disclose the identities of the companies who received money from the $160 billion federal bailout of American International Group (AIG). Tens of billions have flowed from AIG to derivatives counterparties without any trace to the public. A Senate panel demanded that the Federal Reserve disclose the identities of all parties or forget about receiving additional funds in the future.

Obama Names America’s First Chief Information Officer. The White House announced today that it has chosen Vivek Kundra-part of D.C. mayor Adrian Fenty’s staff-to act as the nation’s first Chief Information Officer (CIO). He will have wide powers over federal technology spending, information sharing between agencies, over greater public access to information, and over questions of security and privacy. This is a sweeping mandate that should be monitored as the position evolves.

Obama Pushing Immediate Health Care Reform: No Time to Think, Just Obey. President Obama is once again presenting Americans with doomsday fear mongering and making demands for immediate action. This time it involves revamping our health care system, driving more of it into government’s hands. Rather than opening issues up for debate, serious discussion, and consideration of alternatives, Obama is pushing his own agenda warning, “We cannot delay this discussion any longer. Health care reform is no longer just a moral imperative, it is a fiscal imperative.” It is odd that the president would think that government assumption of the nation’s health care costs will somehow lower them. To date there is not a single government activity that is done more efficiently, or less expensively, than the private sector equivalent.

Lawsuit Accuses Craigslist of Promoting Prostitution. An Illinois sheriff filed a federal lawsuit Thursday against the owners of Craigslist, accusing the national classified-ad Web site of promoting prostitution. Cook County Sheriff Thomas Dart wants craigslist to eliminate its Erotic Services section. The government can continue to crack down on prostitution, increasingly making life miserable for countless citizens, or it can legalize the trade and regulate it to ensure minors are not exploited. Which path do you think they’ll take?

Chinese Central Banks Claims to See Signs of Recovery. China’s central bank says that they are “seeing that the economic figures are stabilizing and recovering, which demonstrates that the policies have begun to show an impact.” The central bank governor, Zhou Xiaochuan, said that China would ramp up deficit spending this year to hit its all-important 8% growth target.

Germany Considering Buying Brand from General Motors. Germans are furious over GM’s mismanagement, which is threatening to shut down one of their German subsidiary brands, Opel. Opel was purchased by GM 80 years ago, and is now in danger of closing down along with its parent company. Labor unions, and German nationalists are urging the Chancellor, Angela Merkel, to provide funds to buy Opel back from GM before it has to shut down.

You just finished reading Freedom Under Fire, Mar. 5th, 2009 on The Freedom Factory. Please consider leaving a comment!

Legendary investor becomes a farmer, U.S. obsession with reviving credit misdirected, Bernanke blames AIG for irresponsibility, and former Countrywide executives take advantage of government bailout programs…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Jim Rogers Becomes a Farmer. Legendary commodities investory, Jim Rogers, has turned to farming. Not personally, of course, but he is the director of two funds that are buying greenfield in Brazil and existing farms in Canada and starting to farm it. The funds are clearing the land, fertilizing, irrigating it, and hiring farmers. “If I’m right, agriculture is going to be one of the greatest industries in the next 20 years, 30 years,” says Rogers. According to Rogers, food inventors are at a 50 year low.

U.S. Obsession with Reviving Credit Markets is Misdirected. President of Euro Pacific Capital Peter Schiff decomposes Obama’s economic beliefs and explains how the White House obsession with restoring credit markets is misguided. Schiff argues that credit ceased flowing for good reason-”there was no more savings left to loan.” He notes that credit is only made possible with savings, and to allocate disproportion national wealth to stimulating artificial consumption without prerequsite savings is a recipe for disaster.

Bernanke Blames AIG for Irresponsibility. Federal Reserve Chairman Ben Bernanke faced harsh criticism while testifying before the Senate Budget Committee, whose members grilled him on wasting so much taxpayer money bailing out American International Group (AIG). Despite the enormous government handouts, the insurer continues to post record losses. Rather than take responsibility for giving other peoples’ money to a dying institution, Bernanke went on the defensive and blamed AIG for reckless behavior.

Former Countrywide Executives Take Advantage of Government Bailout Programs. As hundreds of billions of dollars frow from Washington to jump-start the nation’s staggering banks, automakers, and other industries, a new economy is emerging in businesses that hope to make money from various government programs. They include contractors who are supplementing the labor of overworked government bureaucrats, big investors who are buying up failed banks taken over by the federal government, and lobbyists helping businesses receive a chunk of the bailout money. Countrywide’s former President, Stanford L. Kurland, and his team of former executives have been buying up delinquent home mortgages that the government took over from otherfailed banks, sometimes for pennies on the dollar.

You just finished reading Freedom Under Fire, Mar. 3rd, 2009 on The Freedom Factory. Please consider leaving a comment!

Will Washington D.C. have new legislative rep? Top technical trader says now is the time to buy stocks, Fed Chief vows to flood economy with dollars, U.S. plans to give away $900 million to Gaza, home price index declines sharply, lobbyists want more bailouts, combat troops exiting Iraq in 2010, scientists often confuse fact with opinion, and this is not your father’s country anymore…just the latest in your Freedom Under Fire Report!

Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:

Senate Advances Bill to create Seat in House for Washington. The Senate advanced a proposal to give residents of Washington, D.C., a voting member of the U.S. House of Representatives. This motion went forward with a 62-34 vote, which would also give Utah a fourth representative. President Obama was co-sponsor of this measure while acting as Illinois Senator. Critics cite the heavy leaning Democrat base in Washington as reason for Democrats pushing for the measure. Another seat in the House would further tip the voting balance in their favor.

Top Technical Trader Predicts Near Term Rally for Stocks. Elliot Wave International Inc.’s Robert Prechter, who advised shorting U.S. stocks three months before the bear market began, is recommending investors end that bet and buy stocks. He warned of a “sharp and scary” rebound for anyone still wagering on a retreat. “This is an environment of escalating financial chaos. Our main job is to keep the money we have. If we exit [close short positions] now, we will do that.”

Bernanke Vows to Use Every Tool to Stem Financial Crisis. Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee today that he is “committed to using all available tools” to stem the financial crisis and unfreeze credit markets. You can expect a good deal of money printing to accompany this statement. Buy gold.

U.S. Plans to Give Away $900 million to Rebuild Gaza. The U.S. plans to offer more than $900 million to help rebuild Gaza after Israel’s invasion. The funds are supposed to be diverted to the U.S.-backed Palestinian Authority, circumvented from Hamas, which currently controls Gaza. Senator Clinton intends to announce this give-away at a conference in Egypt next week, but the measure still needs to pass Congressional vote.

Home Price Index Shows Sharp Declines at end of Year. The Case-Shiller home price index measured an 18.5% year-over-year decline in December of last year for 20 major metropolitan areas. Housing prices dropped 2.5% from November to December. The real estate crisis is not behind us just yet.

Lobbyists Press for Billions more Added to Bailouts. The government faced mounting pressure on Monday to put billions more in some of the nation’s biggest banks, two of the biggest automakers, and the biggest insurance company, despite the billions is has already committed to rescuing them. Upwards of $200 billion have already been committed to AIG, Citigroup, General Motors, and Chrysler, but combined these companies, alone, are requesting tens of billions more.

U.S. Combat Troops Evacuating Iraq mid-2010. President Obama intends to remove all combat troops from Iraq by August, 2010. An estimated 30,000 to 50,000 soldiers will remain in the country to advise and train Iraqi security forces and to protect U.S. interests.

Scientists Confuse Opinion with Fact in Politics. Dr. Pielke, a professor in the University of Colorado’s environmental studies program, discusses his book “The Honest Broker.” The premise is that most scientists are fundamentally mistaken about their role in political debates. Dr. Pielke says they jeopardize their credibility while impeding solutions to problems like global warming. “Too often,” Dr. Pielke says, “they [scientists] pose as impartial experts pointing politicians to the only option that makes scientific sense. To boster their case, they’re prone to exaggerate their expertise (like enumerating the catastrophes that would occur if tehir policies aren’t adopted), while denigrating their political opponents as ‘unqualified’ or ‘unscientific’.” The policy areas cited as examples in his book are global warming, and issues related to population growth.

This is Not Your Father’s Country Anymore: Buckle Up for “Shared Sacrifice”. CNN correspondent Jack Cafferty laments on the changes he has seen in America throughout his life. He cites that the national debt is fast approaching $12 trillion, with just the interst payment reaching $500 billion a year. On top of this Cafferty adds the “tens of trillions in unfunded liabilities” for Medicare and Social Security, with trillions more debt coming down the line with the myriad bailout measures. With such a long history of bad policy, bad government management, the only eventuality is to prepare for a “shared sacrifice” in dealing with lower lifestyle expectations. Why would productive, intelligent young folks accept a “sacrifice” forced upon them by the bad decisions of previous generations? The reality is that those you most want to stay in this country will likely find cause to leave.

You just finished reading Freedom Under Fire Report, Feb. 24th, 2009 on The Freedom Factory. Please consider leaving a comment!