The Obama - Biden 2012 bumper sticker keeps getting longer. Among the Bush blunders reversed so far: Bin Laden Dead, Iraq war over, GM #1 again, North Korea nuke free. North Korea needs the food badly, and a peace deal would give it the chance to really ramp itself up as the cheap labor factory floor for both China and South Korea.
You could say that Obama is close to WWIII with Iran (the corporate media says so), but there are rumors that just the opposite is true. Why would the Axis of Evil give up its Nuke-U-lar ambitions? Maybe they can deal with Obama, and believe the Bush Crime Family is out of power permanently.
Iran is being hurt pretty bad by the sanctions against its banks, but Obama has so far been unwillingly to cut them off completely from the international bank clearing house, Society for Worldwide Interbank Financial Telecommunication, or SWIFT, even though the banking hub has publicly agreed to do so, in order to meet US demands. Or, more likely the bankers which are supposed to be non-political and neutral, are unwilling to back the US’s play. If the do this then China could demand the same be done against Taiwan, and China (unlike the US) is still a super-power.
However, the US is not declining quite as fast as previously thought, with 4th quarter GDP growth revised upward to 3%. This is respectable growth for a mature economy like the US, mature in that it’s dominated by old rich people who steal everything, at least where they can pull up the nails that are holding it to the floor.
The stock market fell below 13,000 today on news that the Fed Chairman doesn’t believe more money printing is needed right now. The Dow doesn’t really like good news, although Ben Bernanke did say unemployment would likely rise later in the year, and that did buoy Wall Street sprits somewhat.
Job creation has actually been quite brisk according to the household survey, with the number of new jobs created on the order of 500,000 in 2 of the last 3 months. New February numbers will be out soon, and we’ll be able to see if this is a real trend.
Oil market analysts (the ones that don’t work for Wall Street) are predicting that gasoline is more likely to be $3 by summer than hit $5. There is simply too much gasoline sloshing around, supplies on hand are at record highs. Europe is slipping into recession on top of declining demand in the US and this makes it almost a certainty that the speculation bubble will burst.
I hope the gas price goes way down so I can afford to drive something big enough to hold my Obama bumper sticker. www.prairie2.com