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Christie rips Obama over deficit talks: 'What the hell are we paying you for?'

By Justin Sink                   


New Jersey Gov. Chris Christie ripped President Obama for the failure of the debt supercommittee, calling the president "a bystander in the Oval Office" in comments Monday.

“I was angry this weekend, listening to the spin coming out of the administration, about the failure of the supercommittee, and that the president knew it was doomed for failure, so he didn’t get involved. Well, then what the hell are we paying you for?” Christie said in Camden, N.J. " 'It’s doomed for failure, so I’m not getting involved'? Well, what have you been doing, exactly?”

Christie was contrasting the Tea Party and Occupy Wall Street movements, saying both stemmed from "anger" with government's inability to respond to the financial crisis. But while Christie said "both parties deserve blame for what's going on in Washington, D.C.," he pointed the finger squarely at Obama for failing to strike a budget deal.


“Why the president of the United States refuses to do this is astonishing to me. If he wanted to run for Senate again and just be one of a hundred, I’m sure he could have gotten reelected over and over again in Illinois,” Christie said. “He’s the one in Washington, and he’s got to get something done here. And it’s not good enough just to say, ‘Well, I’ll get it done after the election.' "

Christie said that the template for fixing budget deficits existed at the state level, where balanced-budget requirements and divided governments often force governors and state legislatures to compromise.

"In New Jersey, the reason why they got done is because I called people into the room and said we’re going to solve this problem and I had people of good will on the other side who said they believed it was their obligation, regardless of party, to get done things like pension and benefit reform,” Christie said.

The popular and outspoken New Jersey governor has endorsed former Massachusetts Gov. Mitt Romney for the Republican nomination for president.

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The Shocking Mystery That Will Deepen Like a Thriller

By Jeff Carter


   Ever read junk novels that are designed for the beach? Every summer, they churn out hundreds of paperback novels that people, most often women, read by the pool or ocean. The plot in these things is the same year after year, only the characters and descriptions of them change.

Corzine and missing funds

Corzine and missing funds

  Investment banking scandals are the same. No one involved with MF Global slept last night.

   Big time bankers are networked to the hilt. They derive a lot of their income from having a great personal network of contacts. Great investment bankers are super connectors. Apply that logic to what is happening today.

    Does anyone in their right mind think that no one else on the street might know something about what happened at MF Global? Of course people know things. They are either hoping no one asks them, or that they don’t get found out and they can write a book about the whole scandal that is published after they die. That’s why the bombshell dropped in the Senate hearings yesterday by $CME is so intriguing. It’s time to play “who knows what at which bank or fund”. Place your bets in the comments.

   Someone, somewhere with really good information is talking. They are looking to save their skin. Hopefully, they have recorded everything, saved all their email and phone records. If they did, it’s only a question of time before a scandal like this begins to spread to other banks, and other bankers. Maybe even a complicit hedge fund. More information will drip out, tightening the noose on people that have clammed up. Agonizing drip by drip. The Chinese water torture that began yesterday is only beginning.

   How would you like to be the guy that knows something, or did business with MF and is hoping to hide for awhile until it blows over? Now, you know someone is talking. And it’s not just an underling. It’s someone that has information and you have no way of knowing who it is or what they have. Rumsfeld logic applies for that person, the “unknown unknowns”. If you don’t want to spend any time in the pokey, your life becomes a game theory question of “prisoners dilemma”. Wait too long, get caught, and you are modeling orange jumpsuits. Go too early and you lose a lot of face on the street and have to get a real job.

    Because of the titanic theft, and the fact that Corzine is so politically connected with deep and long business ties, it will take some time to tease out.

   But, someone knows a lot of particulars. I’d stay tuned. Scandals like these have a tipping point. Once the momentum turns, we will find the money and a lot of information about how it got to the places it went.

     Next summer, it will make a good trash novel, drip by drip.

Jeff Carter Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.

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On a $4M Vacation, Michelle Seeks $3 From Backers

by Keith Koffler on December 30, 2011


Speaking from her paradisical $4 million Hawaii vacation, Mrs. Obama wants to know: Do any of President Obama’s supporters have $3 to spare for his reelection?

This is approximately like coming upon Warren Buffett on a street corner with a McDonald’s cup asking if he can have 15 cents.

Michelle’s request was part of an email sent to the Obama 2012 list today.

Over the next 11 months we’ve got an organization to grow, voters to register, and people to get fired up.

I hope you’ll close out this year by donating $3 or more now to help make sure we’re ready for the next one . . .

Thank you so much, and happy new year,



The obscene juxtaposition of the first lady on a $4 million vacation while asking what would have to be middle to low income earners for three bucks – who else would they be targeting with such an appeal? – is yet another example of lack of perspective the Obamas seem to be gaining while in power.

Mrs. Obama takes extravagant vacations to Spain and southern Africa. The president golfs obsessively and is currently dining at Honolulu’s ritziest restaurants. All while asking their fellow Americans to “sacrifice” during this time of not plenty.

And they blow $4 million – mostly taxpayers’ money – on a vacation, while wondering if the small people can come up with $3.

What about renting a beach house next year at the Jersey shore? I mean, if we’re all going to sacrifice.



For the first time in my life, I am really proud of this country.

"Let the little people eat their peas, right Barry? Someone want to pass some more of that $100/lb Wagyu Beef?"
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Levin: Obama’s Comment ‘Forthright Statement Of A Dictator’...

Mark Levin: ‘We Have a Constitutional Crisis’

By Patrick Burke

Jan. 5, 2012

On his radio show last night, Mark Levin said that President Barack Obama has caused a “constitutional crisis” by appointing members to the National Labor Relations Board and a director to the Consumer Financial Protection Bureau without going through the constitutionally required Senate confirmation process.

“We have a constitutional crisis,” Levin said. “It is in fact a constitutional crisis.”

“The President of the United States is trashing the Constitution now day in and day out,” Levin said.

At one point, Levin likened the explanation Obama made yesterday for appointing these federal officials without Senate confrmation to the “forthright statement of a dictator.”



The Lawless Obama Regime

Jan. 5, 2012 | Rush Limbaugh

RUSH: All right, some people in the e-mail have taken exception with my description of Obama as "lawless" and acting outside the Constitution. Let me share with you a quote, and this is from a video. It might have been from yesterday out in Ohio, but it's within the past couple days. Obama said, "When Congress refuses to act -- and as a result, hurts our economy and puts our people at risk -- then I have an obligation as president to do what I can without them." He got applause. "I have an obligation to act on behalf of the American people. I'm not going to stand by while a minority in the Senate puts party ideology ahead of the people that we elected to serve. Not with so much at stake, not at this make-or-break moment for middle class Americans. We're not gonna let that happen."

Now, the Founding Fathers said this is exactly what's supposed to happen! It's called "the separation of powers," and it's to make sure that things like this do not happen, that an all-powerful executive does not run roughshod over the government. But President Obama has just said: Because the Congress we want to do what I want them to do I'm gonna do it myself. That is extraconstitutional! That is not the way this government was set up. It was not the idea of the Founders. That's acting outside the Constitution, and there's no question about it -- and the Obama campaign is claiming he's doing all these recess appointments and things like this "to help the economy." Reuters again: "Hammering populist themes that show him to be a champion of the middle class, aides say the president will keep taking steps to show voters he'll make moves on his own to help the economy if Congress refuses to act."

If Congress "refuses to act," it is his job to sit down and talk to 'em and make 'em act and get them to vote the way he wants. He does not have -- unless they grant it to him (and they're doing it, by the way) -- the authority to run roughshod over them. But if they don't stop him, he can do it. We can't. Congress has to stand up for itself. Now, the Democrats run the Senate. I think they're happy for this to happen. Dingy Harry loves for this to happen because they're sitting there blaming it on the House Republicans who have no role in this. It's an election year, so blame the Republicans for it. Folks, it is clearly lawless. If you regard the Constitution as law, this is lawless behavior by an out-of-control, rogue executive. This is what happens in banana republics, tinhorn dictatorships. In places like Venezuela, this is what happens -- all under the guise of populism and helping the middle class.

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The Prediction Of Norman Mattoon Thomas

Is Coming True


Today, even the most socialist Dems will still deny that their

policies and the policies of Barack Obama are socialist.

Thomas was right. We Americans will never “knowingly”

adopt socialism.

Are you ready to wake up yet?



...”The Law”...

"Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole — with their common aim of legal plunder — constitute socialism.

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.


Frederic Bastiat

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Now We Will See The Real Obama and it Will Get Ugly

Now We Will See The Real Obama and it Will Get Ugly

Townhall.com ^ | January 14, 2012 | Jeff Carter


Bill Daley leaving the Obama administration was big news for ten minutes. But as my friend Streetwise Professor and I discussed on Twitter after the news broke, this really signals a big changein direction on how Obama will campaign.

It’s going to get really ugly. How ugly? Think of the election cycle from 1796-1804. It will be that ugly. The culmination of those election cycles was a duel by Alexander Hamilton and Aaron Burr, with Hamilton losing his life after the gun battle.

Both Hamilton and Jefferson manipulated the press of that time to scandalize the other side. Character assassination is a mild phrase to use when describing the vitriol that went back and forth. Look for more in the coming months.

It takes a thick skin to be a politician, but in Chicago, no one ever plays fair. The game is rigged before the ballots are printed. They say backroom politics are dead, but the political bosses in Chicago are alive and well. As Craig correctly points out, what you just saw in the White House was a street fight from Chicago manifesting itself into an internal power struggle in Washington.

Even though they are all Democrats, there are still big political divisions within Chicago. Mayor Daley’s special talent was mitigating the special interests of all the factions. Truly, it is a special skill that should be admired and not chided, even though he accomplished it on the back of the tax payer. Daley would be an excellent CEO of a large company. I have a lot of respect for him. He is an extremely bright and energetic person. He isn’t a political hack.

There are different kinds of Democrats in Chicago. You need to know the species before you jump to conclusions. Nothing happens in a vacuum, and nothing happens without a consensus.

There are the machine Dems that understand you need a really vital business economy to support all the union jobs and other enterprises they make money from. The machine Dems can’t wet their beaks without a continuing flow of both private and government money they can skim from. Culturally, these kinds of Democrats would describe themselves as “fiscally conservative and socially liberal”. They are fiscally conservative until you start cutting spending on government programs, or simply cutting out government programs because they mean jobs and pensions to their constituents.


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Now We Will See The Real Obama and it Will Get Ugly


Dan Rostenkowski was the textbook example of this machine Democrat. Blagojevich was a machine guy that jumped ship. He got too big for his britches. If he would have followed orders, he would have been just fine. Instead, he is going to jail. Machine Democrats do play by some rules. Once you negotiate with them and have a deal, you have a deal. At least until the next negotiation where they will try to take a little more from you. But in the ensuing years, you will be great friends.

The next kind of Democrat works the system and plays racial politics all the way. This is where many ethnic politicians play. They make sure they use race to “get their fair share”. They have allies in their mission. In the case of the White House, it’s David Plouffe.

There is a part of Chicago politics that is really well known. However, it’s unspoken because of fear. The fear of being branded a racist when you are merely saying something everyone knows but social constraints make it taboo. The cost of silence is high. Practitioners of racial politics are very tough to negotiate with, and extract a high price for their support. Jesse Jackson is a good example of someone where the issue of race is forefront in the negotiation.

An example of how a person like Jackson was placated was when his family miraculously received the rights to all the distribution of Budweiser at city and county establishments. John Kass of the Chicago Tribune doesn’t call him the King of Beers for nothing.

Advocates of this brand toss around the “racist” brand liberally. Because they are ethnic, there is no way they themselves can be “racist” because they are “standing up for the people”. If the people knew how much money was skimmed off the top they might not be so understanding. These kinds of Democrats are very tough to negotiate with. There are always special cut outs for them, and they never are satisfied. Every issue comes down to one thing, race. They use that topic as a cudgel to get what they want. And unlike the Machine Dems, a deal is not always a deal with them. Not all ethnic politicians reside in this forest of politics, some are much more comfortable being machine Democrats. You have to feel them out to see where they live.

The last kind of Democrat in Chicago are the true believers. They are idealistic and actually think that systems of organizing people like socialism and communism are the best methods. They idealize China. The fact that huge cities can be built at the twitch of a government finger with no concern for property rights is enticing to them. The true believers don’t believe in a single class system like they say. There is a small cadre of hand picked ruling class people, and then the rest of the poor stiffs. Bill Ayers is one person at the idealogical center of a system like this. Ayers had many predecessors in Chicago and this sort of “true believer” Democrat culture runs very deep. The tentacles of the true believer culture reach all over Chicago.

Recall, the Haymarket riots were here. Upton Sinclair did his best work here. Studs Terkelwas a true believer. There is a DNA that runs very deep in certain parts of the city which exemplifies this sort of system. Barack Obama is a person that came from this part of city politics. There are many others, but for them a large government apparatus that directs all traffic and makes all decisions is the way to run a society. Many of the true believers ally themselves with the practitioners of racial politics because they see that as a means to an endgame.

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Re: Now We Will See The Real Obama and it Will Get Ugly


The other problem with the true believers is they have credentialed themselves and put themselves into positions of respect and authority. Ayers as a university professor was entitled to a platform for his views, and many people allow him to air them in the spirit of public debate. This is exactly what they want, for as soon as they assume a pposition of respect, their twisted view of society becomes debated. In fact their views should be tossed out with the trash and their title stripped away.

An outsider cannot begin to comprehend the deep level to which machine politics have descended to in Chicago. There is virtually no job in government at any level, city, county and many state positions, where a person owes a person which owes a politician. You just don’t get there from here without paying a lot of dues, both in money and physical labor. By physical labor I mean going out on the streets and knocking on doors, campaigning, cajoling friends to elect certain people. To the untrained eye, one Democrat looks like another when nothing can be further from the truth.

From afar, the machine is a thing of beauty when it springs into action. There is intense coordination. It’s efficient. Opponents are mowed down. Like a band of army ants, it eats everything in its way. Not even the internet and software can stop the political machine. Employees will make sure they don’t adopt software that would cost precious jobs. City reorganization isn’t cutting budgets, it’s simply designating which private sector business will absorb the city jobs that were cut. Then the private sector gets intimately intertwined with the government and the machine spreads to ho hum businesses like florists and caterers. Chicago runs more like Russia or China with an American twist. The only way out is to escape. Chicago has lost population over the last twenty years.

Then there are the Democrats that are the connectors. David Axelrod is a true believer that is a connector. He is good with the turn of a phrase to mask what they truly want and turn it into something saleable to the American public. The Clinton’s had their own machine which some Chicago folks were a part of. But their idea of political combat was a scorched earth policy. Chicago operators are much more pragmatic than that.

Obama’s mission was to ingrain that sort of crony capitalist machine into the fabric of national politics. One look at all the waivers given to his cronies for Obamacare shows you where he is headed. If Obama and his compatriots get there way, every business, man, woman and child will have to bow their head and kiss a ring to get anything done.

Those true believers are dangerous. People like Ayers want the traditional America destroyed. Sometimes they do make mistakes. They believe so deeply in the idealistic nation state they envision, that they lose sight of what is really happening on the ground. I think Daley leaving the White House is one of those times. Valerie Jarrett and the practitioners of her sstyle of politics are running the show. Let’s work hard to inform Americans so they don’t buy what she is selling. Had Daley held sway, we would have seen a different more palatable direction.