Chris Martensons's Blog

If you haven't heard about Chris Martenson, PhD, then you should. He is first and foremost a scientist, earning a PhD at Duke University in neuro-toxicology. He also calls himself a obsessive financial observer. Whatever he is, his blog is outstanding. Cowboys and Tea Parties reader should bookmark his blog or sign up for his newsletter.

Just a sample of what he offers on the 27 August 2011 post on his blog:

The Second Great Depression

The 2nd Great Depression was not avoided, it was delayed. Our two decade long delusional credit boom could have been voluntarily abandoned in 2008. The banks at fault could have been liquidated in an orderly bankruptcy with stockholders and bondholders accepting the consequences of their foolishness. Unemployment would have soared to 12%, GDP would have collapsed, and the stock market would have fallen to 5,000. The bad debt would have been flushed from the system. Instead our Wall Street beholden leaders chose to save their banker friends, cover-up the bad debt, shift private debt to taxpayer debt, print trillions of new dollars in an effort to inflate away the debt, and implemented every wacky Keynesian stimulus idea Larry Summers could dream up. These strokes of genius have failed miserably. Bernanke, Paulson, Geithner and Obama have set in motion a series of events that will ultimately lead to a catastrophic currency collapse. We have entered the 2nd phase of the Greater Depression and there are no monetary or fiscal bullets left in the gun. Further expansion of debt will lead to a hyper-inflationary collapse as the remaining confidence in the U.S. dollar is exhausted. We are one failed Treasury auction away from a currency crisis.

Cowboy's comment: Yes, it would have been much better to take the economic ass whooping then, as opposed to the severe, life threatening beating that we are most likely in for. The Democrats, and those who think like them, will ride their ideology to this Country's grave.

About The Fiscal Debacle in Greece

Jason Manolopoulos, author of Greece ’s 'Odious’ Debt, says the state has become a hydra with seven heads: cronyism, statism, nepotism, clientelism, corruption, closed shops and waste. Kleptocrats have been running the show and their predilection for thieving and bribery has poisoned the nation.

Cowboy's comment: "Kleptocrats?"...............sounds like the U.S. Senate. A close watch should be on Greece. I think that what happens there could very well happen here. Hence, my opposition to raising the debt ceiling under any circumstances.

Minor Shakeup at ATF Over "Fast and Furious"

"Fast and Furious" the incredibly stupid BATF&E operation that put thousands of military style civilian weapons in the hands of the Mexican Cartels has become too great a burden for the Obama Administration, but not big enough to actually hold some responsible and accountable.

What the press is reporting as a major shakeup, is actually a serious of minor moves by Eric Holder's Justice Department to deflect blame and to hope that the public (and Republican legislators) move on.

Kenneth Melson, acting director of the BATF&E since since 2009, was reassigned after admitting mistakes in the sting operation meant to try to crack down on weapons reaching violent drug gangs from U.S. gun stores. Re-assigned?......Huh?

Dennis Burke, the U.S. attorney for Arizona, resigned after admitting mistakes in the operation.

Emory Hurley, the lead government prosecutor was also reassigned. I fear being redundant, but re-assigned? You have got to be kidding me!!!)

Another administration official said the shake-up at ATF was a chance for a "fresh start given everything they've gone through lately." Fresh start? How about a fresh start for the ATF agents whose careers were ruined because they had the ethics and character to question their bosses who allowed and abetted arming the cartels? How about some justice for Border Patrol Agent Brian Terry who was gunned down by one of these weapons the BATF&E allowed to go south?

The BATF&E has yet to answer if the guns used to shoot two and kill one ICE agent in February of this year were part of the Fast and Furious weapons import idiocy.

These supposedly sting operation, called "Fast and Furious," has birthed congressional probes which have been stymied by the Obama Administration.

I have received several dozen e-mails from people who believe this was an intentional arming of the cartels from U.S. sources to give proof to the other baseless accusations of Felipe Calderon, the Ass Clown of a Mexican President, that the U.S. was to blame for the Mexican violence and butchery which has killed over 40,000 at last count. It would also, as the theory goes, give Obama new fodder to call for elimination of guns rights in this country.

Obama the Lawyer?

This was sent to me from a contact in Chicago who stated the following was from a former Chicago lawyer now practicing law in Tyler, Texas:

Obama the Lawyer? Make up your own mind, but consider this: The IARDC stands for Illinois Attorney Registration And Disciplinary Committee. It's the official arm of lawyer discipline in Illinois, and they are very strict (and mean as hell). Even I, at the advanced age of almost 65, maintain (at the cost of approximately $600/year) my law license that I worked so hard and long to earn.

https://www.iardc.org/


Former Constitutional Law Lecturer and U.S. President Makes Up Constitutional Quotes During State Of The Union (SOTU) Address. Consider this:

1. President Barack Obama, former editor of the Harvard Law Review, is no longer a "lawyer". He surrendered his license back in 2008 in order to escape charges he lied on his bar application. A "Voluntary Surrender" is not something where you decide "Gee, a license is not really something I need anymore, is it?" and forget to renew your license. No, a "Voluntary Surrender" is something you do when you've been accused of something, and you 'voluntarily surrender" your license five seconds before the state suspends you.

2. Michelle Obama "voluntarily surrendered" her law license in 1993.

3. So, we have the first black President and First Lady - who don't actually have licenses to practice law.

Source:

4. A senior lecturer is one thing, a fully ranked law professor is another. Barack Obama was NOT a Constitutional Law Professor at the University of Chicago.

5. The University of Chicago released a statement in March 2008 saying Sen. Barack Obama (D-Ill.) "served as a professor" in the law school-but that is a title Obama, who taught courses there part-time, never held, a spokesman for the school confirmed in 2008.

6. "He did not hold the title of Professor of Law," said Marsha Ferziger Nagorsky, an Assistant Dean for Communications and Lecturer in Law at the University of Chicago School of Law.

Source:

7. The former Constitutional Senior Lecturer (Obama) cited the U.S. Constitution the other night during his State of the Union Address. Unfortunately, the quote he cited was from the Declaration of Independence ... not the Constitution.

8. The B-Cast posted the video:

9. Free Republic : In the State of the Union Address, President Obama said: "We find unity in our incredible diversity, drawing on the promise enshrined in our Constitution: the notion that we are all created equal.

10. Um, wrong citing, wrong founding document there Champ, I mean Mr. President. By the way, the promises are not a notion, our founders named them unalienable rights. The document is our Declaration of Independence and it reads:

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."

And this is the same guy who lectured the Supreme Court moments later in the same speech? When you are a phony it's hard to keep facts straight!