Sunday, July 20, 2008

Treasury Secretary Henry Paulson Tells Americans To Expect Tough Months Ahead

WASHINGTON — Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead.

"I think it's going to be months that we're working our way through this period _ clearly months," he said.

Paulson said the number of troubled banks will increase as they struggle to cope with big losses on bad mortgages. The government this month took over IndyMac after a run led it to become the largest regulated thrift to fail.

"Of course the list is going to grow longer given the stresses we have in the marketplace, given the housing correction. But again, it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation," he said in broadcast interviews.

Paulson used appearances on the Sunday talk shows to tell people that deposits up to $100,000 are fully insured. He said no one has lost a single penny on an insured deposit in the 75 years that the Federal Deposit Insurance Corporation has operated.

"We're going through a challenging time with our economy. This is a tough time. The three big issues we're facing right now are, first, the housing correction which is at the heart of the slowdown; secondly, turmoil of the capital markets; and thirdly, the high oil prices, which are going to prolong the slowdown," he said.

"But remember, our economy has got very strong long-term fundamentals, solid fundamentals. And you know, your policy-makers here, regulators, we're being very vigilant."

Paulson said he hoped Congress soon would approve his plan to help shore up Fannie Mae and Freddie Mac, the government-sponsored mortgage companies

Worse than 1000 Atomic Bombs

We incessantly worry about Iran?s nuclear development program and the global ramifications of nuclear bombs in the hands of an Islamic fascist regime. This apprehension is primarily based on the supremacist eschatological ideology of the Iranian political leadership. The problem essentially is not the development of atomic bombs by Iran but their potential use.

There are today thousands of nuclear weapons all over the world, most of them much more destructive than those Iran might produce in the foreseeable future -- yet we have little reason to worry about them. The problem is the ideology and not the technology.

There is little doubt that Israel will be a major target for Iranian attack or blackmail once Iran acquires atomic bombs. But the global problem is much larger by far. Even if Iran was prevented from acquiring nuclear warfare capability by a preemptive Israeli strike or otherwise, the existential danger to Israel will not disappear. Israel is being threatened by Islamist ideology more than by Islamist weapons.

The same ideology might prompt the use of other destructive terrorizing technologies to achieve the same goal: Destabilizing and ultimately destroying Israel and all other non-Islamic civilizations. For instance, the coordinated poisoning of thousands of innocent citizens by toxins, or the spread of virulent epidemics in numerous urban centers, might have a far greater devastating effect on an industrial nation than the destruction of a city by a nuclear blast. Even if such terrorist acts were sporadic, they would readily become unnerving, disruptive and destabilizing. ...

America is Not Post–Anything

By Victor Davis Hanson





http://www.JewishWorldReview.com | In the last 20 years, we were lectured constantly about "post-industrial" America.


Experts proclaimed that the United States had evolved into an "information society" of "high-tech jobs." The traditional sources of American strength — manufacturing, the production of food and fuel, and the assembling of cars and trucks — were apparently passe. Instead, others less fortunate abroad were to do those more grubby tasks, while Americans, with their BlackBerrys and laptops, funded, organized, lectured and critiqued them.


Illegal aliens might cook our meals or change our children's diapers to free us up for far more important tasks of litigation, finance and environmental review. The Chinese would make everything from our shoes to our phones. The Japanese would supply us with quality high-end goods like cars and cameras. The Africans, Arabs, Iranians, Russians and Venezuelans would drill oil in nasty, dirty places so we wouldn't have to.


Even our food — which would be always in season — would increasingly be shipped in from Mexico and South America.


Refined Americans became more concerned over questions of gender, race and class justice in our universities and courtrooms, as if the chief problem were only dividing the American pie equitably, rather than expanding it.


The real source of American wealth apparently was the mere fact that we were Americans. Therefore, the rest of the world should naturally loan us money to sustain our envied lifestyle. Our homes got bigger, and we bought and sold them more as investments than as places to raise our families.


Our top graduates opted for Wall Street, insurance, law, journalism and academia. Why not, when laws made it more conducive to invest and trade, but harder and less lucrative to build, drill, farm and manufacture?


American universities bragged that they were teaching the world how to design and engineer — as our own kids gravitated to law and management schools. We relied on a paternalistic government to regulate what we shouldn't do rather than turn to our best and brightest private citizens to show us what we could.


Alas, no successful civilization in history — Greece, Rome, England, France, the list goes on — ever found prosperity through its bureaucrats and lawyers.


The result of all this growing American laxity and condescension so far is mixed.


The good news, aside from the fact that Americans have never had it so good, is that millions in China are no longer starving. Japan talks of marketing hybrid cars, not re-establishing its old "Co-Prosperity Sphere." The Persian Gulf looks more like Las Vegas than the badlands of Waziristan. Billions in the new globalized world are now emulating the American middle class, which, for all the caricatures, still represents freedom and affluence for so many.


The downside, of course, is a growing collective panic here at home, over whether such undeniable progress is sustainable when America is up to its neck in debt, dependent on foreign energy and plagued by self-doubt and inaction.


Our 21st-century paralysis is surprising. The United States is not materially exhausted. We sit atop trillions of dollars worth of untapped oil, gas, coal, shale and tar sands.


America could mine more uranium, and reprocess fuels to build hundreds of nuclear plants. American agriculture is blessed with the world's best soils, most developed irrigation systems, and most productive and astute farmers.


There is as much sun and wind in the western United States as anywhere in the world. We have plenty of natural resources and the know-how to make all the wood, steel and cement products we need.


A new, hungrier generation of Americans will have to want to reclaim our pre-eminence and change the national attitude. It must be ready to pay off generations of debt rather than borrow, build rather than sue, and drill rather than whine.


It's time to honor rather than avoid and outsource physical labor. Our children are healthy enough to cut our own lawns and pick our fruit. Let's also hope they want to hear a lot more about Gen. David Petraeus' success, and a lot less of Madonna's latest psychodramas.


But just as importantly, what Americans need now is leadership to get moving again — rather than more platitudes about hope, squabbling about race and gender, and endless rhetoric about who is really a maverick or a true conservative or the most liberal. What we need to know from our two presidential candidates are specifics about how to jumpstart America.


So, how many more barrels of oil, refineries and megawatts will America produce —and when and how? How much debt will the next administration retire — and when and how. How and when will our schools return to knowledge-based rather than the present (and failing) therapeutic curriculum?


Americans, in short, should be tired of hearing that we are a post-industrial, postmodern, post-anything society. Instead, we want to be known again as a can-do producer nation that sweats as much as it thinks. And the confident presidential candidate who can best assure us of that will surely win this election.

Academia to high schools: No God allowed

Arguments were heard today in a federal district court case to determine whether a state university system can dictate that private Christian schools in the state teach their college prep courses from exclusively secular, Bible- and God-free textbooks.

As WND reported earlier, the University of California system adopted a policy last year that basic science, history, and literature textbooks by major Christian book publishers wouldn't qualify for core admissions requirements because of the inclusion of Christian perspectives.

Robert Tyler, who is representing Calvary Chapel Christian School and five students in the case against the University of California, told WND that the university's discriminatory policy creates an ultimatum for Christian schools. "If you want courses to be approved in private education, so your students are qualified to attend (UC) institutions, you must teach from a secular point of view," he said. ...

Muslim Moles

By INVESTOR'S BUSINESS DAILY ... In a sign background checks are far too lax, an alarming number of Arabs and Muslims have landed sensitive government jobs only to be caught later spying for the enemy.

Guarding against penetration by terrorist agents and sympathizers should be a top concern of public agencies, but it's not. Guarding against charges of job discrimination is.

Multiculturalism and political correctness have made it easier for the terrorists to use Arabs and Muslims to infiltrate the government and steal security secrets.

In the latest example, a former city 911 operator faces multiple felony counts for allegedly searching the names of friends and relatives on the FBI's terrorist watch list.

Nadire P. Zenelaj, an ethnic Albanian, says she's being singled out because she is Muslim. "I feel they targeted me because of my religion," she said.

No, she was investigated for looking up classified information on her confederates. At least one of the 227 names she checked was on the terrorist watch list, according to Rochester, N.Y., police.

A D.C.-area cop recently was convicted of doing the same thing.

Federal prosecutors say Fairfax County Police Sgt. Weiss Rasool, an Afghan immigrant, tipped off a fellow mosque member that he was under FBI investigation. When agents went to arrest the terrorist target early one morning they found him and his family already dressed and destroying evidence. They knew they had a mole and worked back through the system to find Rasool.

Thanks to post-9/11 data-sharing, local police like Rasool — as well as first responders like Zenelaj — now have access to classified FBI files on terror suspects maintained with the NCIC, or National Crime Information Center system.

Prosecutors said Rasool's actions "damaged the integrity of the NCIC system and jeopardized at least one federal investigation."

That's not all. In May, the Energy Department had to revoke the security clearance of an Egyptian-born nuclear physicist because of "conflicting allegiances." The FBI questioned Moniem El-Ganayni, also a Muslim prison chaplain, for allegedly inciting inmates to carry out jihad against the U.S., charges he denies.

Still, such questioning should've taken place before El-Ganayni got acccess to nuclear secrets. It's likely his extracurricular activities would have been enough of a red flag to bar his employment.

Same goes for an EPA toxicologist who turned out to be an al-Qaida fundraiser.

Waheeda Tehseen would never have been hired at all if the feds hadn't cut corners on her background check. Not only did Tehseen's husband work for Pakistani intelligence, but she lied about her U.S. citizenship on her government application. EPA missed it.

Then there's the case of Hezbollah spy Nadia Prouty. The Lebanese immigrant also lied about her citizenship and was hired anyway by both the FBI and CIA.

The good news is, these moles were caught. But they should have been screened out before they could ever get in and do damage.

Socialism: Still a dirty word

In the 1950s, the word "socialism" was as vulgar as the four-letter words, which, when uttered by a youngster, could result in a mouthful of soap. Not so today. Perhaps contemporary acceptance of the term is the result of tolerance lessons, or political correctness that permeates progressive thought today. It could be ignorance; schools no longer teach the flaws of socialism. Or, what's even worse, today's acceptance of the term is more likely to be acceptance of the system.

When Rep. Maxine Waters, D-Calif., blurted out in a congressional hearing that she was ready to "socialize" the oil industry, it caused only a minor ripple in the media. There's no way of knowing, of course, whether any school teachers seized on the event to discuss with their students why government should, or should not, follow Ms. Waters' advice and "socialize" the industry. This would have been a great teaching opportunity.

Had a representative made such a suggestion in the 1950s, she might not have been allowed to complete her term, and almost certainly would not have been re-elected. Civics teachers across the nation would have pounced on the opportunity to explain why socialism must never be allowed to penetrate the American system of government. Many of today's teachers may not know why socialism should be avoided. Or worse, they may believe socialism should be embraced.

As frustrating and painful as it is to pay $4 per gallon for gasoline, Maxine Waters' medicine would be far worse than the disease. The price of gasoline is determined by the amount people are willing to pay for the available supply. As the supply diminishes, the people who need gasoline are willing to pay ever-higher prices, as long as they can. When they can no longer pay the price, they do not use the product. When they stop buying, the supply increases by the exact quantity they no longer purchase. The more people who are priced out of the market, the less demand there is, and the more supply is available, which tends to put downward pressure on the price. ...

Islam Bullish In A Bear Market

The Amana funds, invested according to Sharia, have more than doubled since 2003, to $1.3 billion. ...

Anything that grows 'can convert into oil'

After three years of clandestine development, a Georgia company is now going public with a simple, natural way to convert anything that grows out of the Earth into oil.

J.C. Bell, an agricultural researcher and CEO of Bell Bio-Energy, Inc., says he's isolated and modified specific bacteria that will, on a very large scale, naturally change plant material – including the leftovers from food – into hydrocarbons to fuel cars and trucks.

"What we're doing is taking the trash like corn stalks, corn husks, corn cobs – even grass from the yard that goes to the dump – that's what we can turn into oil," Bell told WND. "I'm not going to make asphalt, we're only going to make the things we need. We're going to make gasoline for driving, diesel for our big trucks." ...

"We're actually gonna tell people how we do it, with streaming video. We're to the point now with our patent that we can say more and we fully intend to.

"We want to develop public support so they can understand what we're doing; to develop political support, because this is a combination of making the United States more independent from foreign oil sources; make [the country] healthier from an economic point of view; and it goes a long way to solving the environmental problems a lot of people are concerned about."

When asked why he thought no one else has patented this process, Bell answered, "It literally is because it's too simple. Everyone was looking for a real complicated mechanism. We looked at how it occurs naturally. But it's now going to develop in a hurry."

Recalling other great inventions, Bell cited on another person with his last name.

"Alexander Graham Bell put together stuff that was already on the shelf and made a phone. I don't want to compare myself to the great inventors. I'm not there yet, but to be able to look at simple things and create things from them, that's how we think in this company."

McCain's war buddy riles Muslims

One of John McCain's fellow Vietnam POWs compared Muslims to terrorists during a defense of the Iraq War on Friday, saying ``The Muslims have said either we kneel or they're going to kill us.''

Col. Bud Day riled Muslim leaders with the remarks made in a conference call with reporters arranged by the Republican Party of Florida on McCain's behalf.

He added: ``I don't intend to kneel and I don't advocate to anybody that we kneel, and John doesn't advocate to anybody that we kneel.'' ...

Al-Qaida assassination plot on Bush revealed

JERUSALEM – On the heels of a visit here next week by Sen. Barack Obama, Israel today announced it arrested six Arabs who allegedly were plotting to assassinate President Bush on behalf of al-Qaida. ...

Top physics group shows crack in warming 'consensus'





Lord Monckton (DailyTech.com)
In another strike against the conventional assertion of a consensus on global warming, a publication of an organization representing more than 50,000 physicists acknowledges many members of the scientific community don't believe humans are the primary cause of climate change.

The editor of Physics & Society, a newsletter of the American Physical Society, says that with his July issue he wants to kick off a debate concerning one of the main conclusions of the Intergovernmental Panel on Climate Change, the IPCC.

The IPCC was awarded the Nobel Peace Prize last year along with former Vice President Al Gore for sounding the alarm about alleged man-made global warming. Yesterday, in a speech at Constitution Hall in Washington, Gore challenged the U.S. to make a "man on the moon" effort to produce all of the country's electricity from renewable resources within 10 years.

But Physics & Society Editor Jeffrey Marque says there's a "considerable presence within the scientific community" of experts who don't agree with the IPCC's contention human-produced CO2 emissions likely are the primary cause of global warming that has occurred since the Industrial Revolution. ...


Father: 'System' killing my disabled daughter

the courts in Delaware are considering whether to designate that Lauren is in a persistent vegetative state, even though, "We've had doctors look at her … There are possibilities with treatments. But she's not getting treatments."

"The state does not allow this for prisoners. If they had treated a dog this way, they would be doing jail time," ...

"With therapy, she might be eating [by herself] within a couple months," he said. "Right now they're trying to hang her out to dry."

He said he's identified treatments that could be tried and therapy that could be attempted, and he's offered to provide the care his daughter needs, but has been rejected.

"My daughter has been there for 16 months. I've had enough," he said. "I'm really ticked about it. This Medicaid thing is paying huge numbers to keep her in this home when she could be at my home for nothing."

Even now, without substantive treatment, he said, "She has been trying to sit up and also has tried to verbalize. She looks good, is loving, she cries, she can giggle, she can't talk but does try to verbalize, we can tell when she's in pain or uncomfortable."

He previously posted a YouTube video of her, which can be seen here:

...the court-appointed lawyers have now banned him from showing any pictures or videos which reflect Lauren's condition.

... "it is becoming increasingly apparent that persons who are suffering from severe brain injuries often have cognitive functions significantly beyond what medical science previously estimated."

Finally, they determine, "it is also becoming increasingly apparently that the diagnosis of 'persistent vegetative state' or 'PVS' is a category that recent science shows is far more uncertain and overly broad than had been previously thought, including a high rate of misdiagnoses of PVS patients who have not been able to exhibit responses, but whose consciousness can now sometimes be measured."

Vile MSNBC Host Calls America's Most Decorated Veteran a Clown

I really hate to give this man any attention but this stunt was so over the top that it could not be ignored...
Blogs For McCain posted this clip of MSNBC Host Keith Olbermann attacking Col. Bud Day, America's most decorated war veteran: ...