PEBO to Visit Great White North

tim: Big difference. The Republicans did indeed borrow a lot of money, and spent it, only problem, the money went largely to corporations who profited from the money, and then kept the profits. No reinvestment back into the U.S. That cannot be denied. Starting with the obscene profits pocketed by the managers of hedge funds. These managers topped everyone's list.
Trader Monthly's list of top 10 earners among hedge fund managers in 2007 was:

1. John Paulson, Paulson & Co. - $3 billion+
2. Philip Falcone, Harbinger Capital Partners - $1.5-$2 billion
3. Jim Simons, Renaissance Technologies - $1 billion
4. Steven A. Cohen, SAC Capital Advisors - $1 billion
5. Ken Griffin, Citadel Investment Group - $1–$1.5 billion
6. Chris Hohn, The Children's Investment Fund Management (TCI) - $800–$900 million
7. Noam Gottesman, GLG Partners - $700–$800 million
8. Alan Howard, Brevan Howard Asset Management - $700–$800 million
9. Pierre Lagrange, GLG Partners - $700–$800 million
10. Paul Tudor Jones, Tudor Investment Corp. - $600–$700 million
These numbers are what they TOOK HOME. These were the guys largely responsible for the run-up in fuel prices last year. And if you think this capital stayed in the U.S., you're a fool. Add to this the billions taken by America's CEO's, banks, investment firms, defense industries, and the amount transferred overseas by American's who purchased Toyota's, Honda's, Nissan's, Mazda's, Hyundai's, etc. etc.. Then there are the Walmart's and Costco's that have certainly helped widen the trade balance. America now has to borrow every dollar it spends from foreign sources. These sources are drying up, and the interest we pay, for example, on the more than $1 trillion owed China, that money is coming back to the U.S. to buy up American industry. In the last 20 years 16,613 U.S. companies have been bought out by foreign entities. One of the biggest and latest of course was none other than the American icon, Budweiser, aided by John McCain to get the sale approved by the SEC. It's got to stop. We are becoming a service economy, servicing the foreign interests who own our infrastructure. There is one way to stop this madness. Support and pass the "Fair Tax Act of 2007". This legislation alone is the best shot of reversing course.

Mildred give your biased head a shake, Governor General Michaelle Jean is a Canadian citizen.

Posted by: pefros | Jan 12, 2009 1:26:17 AM
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Guess Canada vettet her before the election...not like the US..hummmm

The title sounds like a fractured Jack London story.

Mildred give your biased head a shake, Governor General Michaelle Jean is a Canadian citizen.

An interesting note is that Canada's Head of State is actually the Governor General Michaelle Jean who is a black woman of Haitian Descent.

Posted by: John | Jan 11, 2009 7:48:06 AM
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Canada can't find a Canadian to fill their government positions either....hummm, guess this is a picture of more folks not citizens of the country they desire to lead. Or, maybe to pattern the USA.

An interesting note is that Canada's Head of State is actually the Governor General Michaelle Jean who is a black woman of Haitian Descent.

Tim clearly the Republicans had their chances over the past 8 years and the country appears to be in dire straights. In fact the free market economy around the world seems to be in a very bad way. Whether you like it or not, the Democrats now get their chance - try to pull your weight - and also enjoy life.

ok, so we all know bush made mistakes. in my opinion, his biggest mistake was expanding the size of the federal government and thus the spending of the federal government. this has never been the philosophy of the republican party, especially fiscal conservatives. so now w have all the liberals and all the democrats saying "bush spent more money and expanded the federal government more than any other democrat ever has", which may be true. as a conservative, i feel the republican party HAS blown it as of late. but heres my point: if the bush administrations' expansion of the government and its spending has been such a mistake (which i whole heartedly agree with) than how are the democrats gonna fix this?! obama is already talking about the biggest bailouts in the history of our nation. HUGE bailouts with no end in sight. how will the party that LOVES big government going to get us out of this mess? WE ARE DOOMED. i hate to say it, but it is the end of our ation as we know it.

Kim, Bush ran up half a Trillion dollars onto the debt every year 2002, 2003, 2004, 2005, 2006 - and with a Rebulican Congress.

Your protest come much too late and at a time (after 8 years of Bush) when the economy of the entire free market system has been in dangerous free fall - so it's also misplaced.

Maybe Obama should remain in Washington and work on producing the "change" he promised. He can start by redoing his so called stimulus package so we don't add a trillion dollars of debt on the backs of our children and grand children.

Over at Huffpo, we're having fun talking about seeind Canada from our house, and wonderng if PEOB will drive there -- you can drive to Canada, you know...

Oh, is it snowing up yonder? I wonder if the weather will be conducive to sledding around.