“Obama has proven all of that is bunk for the right person at the right time.

***

“If that stands, it may be one of his worst legacies: the knowledge that you can fool enough of the people enough of the time and get away with it.”

In the 1950s my Mom explained to me more than once that our Constitution was intended to protect us from demagogues and from ourselves (i.e., in being willing to follow or embrace demagogues). She explained it in terms that a kid could understand, of course. Well, almost 60 years later, we (including our middle class and wealthy) so seem to crave a nanny state that I fear our Constitution will not protect us from ourselves.

I am astonished at the mendacity of the manchild.

We really are living in the twilight zone.

GM also went broke. The Left used Supreme Power to fix things in favor of their union Leftist brothers.

People might wish not to underestimate the Leftist alliance’s power and breadth of resilience in the future. They are more than they seem… they aren’t just a bunch of college frag boy college wannabe professors partying with the sexy babe actresses.

While profit and money is the sinews of war, the Left has other ways of funding their way than the normal (and private business) model many people have to use. Normal people are beholden to normal rules. The Left does not adhere to “normal rules”. People who think they can win the conflict, are under a vast mis comprehension if they think the Left is playing by their rules.

My gut tells me that the Bernanke is rebelling against the Wan — in a passive aggressive way. (Which, BTW, is Buraq’s personal style — I’ve witnessed it up close and in person.)

He’s also testing the waters for metrics: just what will the market do if rates back up? How much? How fast? Chaotically?

This waters testing is necessary because the Fed has left the economic galaxy — and is hesitating before declaring warp speed. (One can only hope that ESPers don’t gain psycho-kinetic powers.)

=====

Most round eyes are not aware that Red China is in the midst of a first class credit crisis — over night monies have locked up. A couple of massive credit defaults have just occurred — just a tad under the Lehman threshold.

Adjusted for the size of their economy — it’s a freaking disaster — as in every player is freaking out.

The mad dash for cash is causing even gold, silver and copper to be thrown onto the market. These and other significant commodities have been stockpiled within Red China — and financed with HOT MONEY.

One should expect commodity exporters — that feed Red China — to feel the lash very, very, shortly.

A BIG part of this credit crisis is the afore mentioned hit on Red China’s Yen position — which started out at a $1,000,000,000,000 trading value in Japanese Government Bonds. (and variations on them)

The Yen / USD has moved 20% against the Yen in five months.

Now the JGB market is having seizures. There is a disturbance in the market. The Yen is not a reserve currency — a deliberate policy of Tokyo — so trade flows and capital flows are all.

Which means that the Yen and JGB are going to be punked even more in the months ahead.

The only policy solution for Japan is to lift their retirement age — immediately.

Naturally, no politician sees it so.

Their other policy shift must be back to atomic power. On a proximate basis, they are going bankrupt purchasing distillates from OPEC. Should this stop, OPEC pricing would be under drastic pressure — to drop.

These troubles will mean that there is no largess to fund the Salafists of the MENA.

The House needs to stop all possible spending by the Wan.

A massive retrenchment is dead ahead — and quickly, too.

I estimate that the market will reject the fiat spew before the 2015 is out. As it stands, our previous biggest buyers: Red China, Japan, Nationalist China and OPEC are all on a buyers strike — the last because of current terms of trade. (OPEC is spending the cash as fast as it comes in, generally. They can’t make any money on their savings during this era of financial repression.)

Humans are the only renewable resource the Religion of Green allows.

The precedent Obama sets isn’t that important to his fellow Leftist allies and fellow travelers. After all, they already know the power of the Nation of Islam, assassinating inconvenient people (Diem in Vietnam, MLK, Malcom X, JFK). The importance of Obama’s precedence is that it shows the freedom fighters that if the Ruling CLass is evil, then the gloves can come off and truly drastic, extreme, and effective methods can now be used in the war.

Even reasonable people I know said “he shouldn’t be impeached for a sexual misdeed.”

Quite so. He should have been impeached for trading secret missile technology to the Chinese Communists in exchange for illegal campaign contributions, i.e., high treason.

But the Republicans in Congress didn’t want to go there. So they did the sex scandal instead.