Obama was right when he said “…the most important thing I can do for the African-American community is the same thing I can do for the American community, period…” In other words, Obama’s first obligation is to the American people as a whole, not to the Black community. Yet the Congressional Black Caucus continue to treat Obama like your cousin who works for the local McDonald’s who has the ability to magically turn your 6 piece into a 22 piece.
(Just a side note: The CBC is a complete trip because in the end, they will still back Obama 110% in 2012. Are they so rogue right now that they could possibly throw their support behind Sarah Palin? Let them pout. They will eventually get back in line. They have nowhere else to go.)
While many of his supporters chose to smoke the crack of the possibility of “hope and change” in Washington D.C., by doing so they also chose not to accept the fact that the office of the President has very little power when it comes to providing jobs. Another thing, the chaos that is now going on in the economy is about to get worse. If the CBC thinks that Obama has been ineffective so far, wait until they see the limits of his power in this next economic storm. Black unemployment is going to be the least of their worries.
“Dubai is a central player in the world economy. It is the mother of all sovereign wealth funds. (Sovereign wealth funds are run and backed by sovereign national governments.)
Dubai’s failure has kicked off the next phase of the global depression. Projects the world over have racked up incredible debt. They are going belly up. This will end in disaster, especially for people who dodged the first bullet a year ago.”
[...]
No one leveraged more money in the derivatives market than Dubai’s sheiks and middle east wealth funds. They did this through the Sovereign Wealth funds of the middle east. Incredibly, they did not have to disclose ANY financial information to get these derivatives.
No balance sheets. No income statements. Nothing on the maze of cross-holding entities.
Instead, the world was told not to worry. All this debt was “guaranteed” by the governments of the oil rich gulf states and its endless oil revenue. Problem is you can wipe your ass with the guarantee and the endless oil revenues are coming to a end. The middle east is no longer the worlds largest oil producer Russia is. And the biggest supplier of oil to the US is no longer the Saudis but Canada. And the largest proven oil field in the world is no longer the middle east Arabs but Iraq. And with little fan fare Iraqi oil exports grow each and every month. Less then 10 years form now they will be the world largest oil producer far surpassing the Saudis and Russias combined.” (read the whole thing here)
Also read this:“Palm Jumeirah project under threat”
My point? What is about to happen to the global economy in the days ahead is going make the CBC’s complaint look like a request for ocean view seating on the Titanic.
What is the connection between Dubai and MLK Blvd.?
It’s quite simple. Many of the businesses on MLK Blvd. are financially backed by the very same banks (investors) who lost their shirt during this first recession and are about to lose their pants in Dubai. Banks such as HSBC invested billions of dollars in Dubai and from the way it looks, they will not be getting that money back anytime soon. Here is a list of other banks that have a stake in Dubai. As much as people love to loathe the rich, it is they, not the President who provides the money to those on MLK Blvd. who want to start a business, buy a house or car. Believing that Obama can somehow stop what’s coming ahead is just plain foolishness on the part of the CBC.
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Arguing For Seating Positioning On The Titanic
by Duane on December 8th, 2009 at 1:51 pmObama was right when he said “…the most important thing I can do for the African-American community is the same thing I can do for the American community, period…” In other words, Obama’s first obligation is to the American people as a whole, not to the Black community. Yet the Congressional Black Caucus continue to treat Obama like your cousin who works for the local McDonald’s who has the ability to magically turn your 6 piece into a 22 piece.
(Just a side note: The CBC is a complete trip because in the end, they will still back Obama 110% in 2012. Are they so rogue right now that they could possibly throw their support behind Sarah Palin? Let them pout. They will eventually get back in line. They have nowhere else to go.)
While many of his supporters chose to smoke the crack of the possibility of “hope and change” in Washington D.C., by doing so they also chose not to accept the fact that the office of the President has very little power when it comes to providing jobs. Another thing, the chaos that is now going on in the economy is about to get worse. If the CBC thinks that Obama has been ineffective so far, wait until they see the limits of his power in this next economic storm. Black unemployment is going to be the least of their worries.
Also read this:“Palm Jumeirah project under threat”
My point? What is about to happen to the global economy in the days ahead is going make the CBC’s complaint look like a request for ocean view seating on the Titanic.
What is the connection between Dubai and MLK Blvd.?
It’s quite simple. Many of the businesses on MLK Blvd. are financially backed by the very same banks (investors) who lost their shirt during this first recession and are about to lose their pants in Dubai. Banks such as HSBC invested billions of dollars in Dubai and from the way it looks, they will not be getting that money back anytime soon. Here is a list of other banks that have a stake in Dubai. As much as people love to loathe the rich, it is they, not the President who provides the money to those on MLK Blvd. who want to start a business, buy a house or car. Believing that Obama can somehow stop what’s coming ahead is just plain foolishness on the part of the CBC.
Sphere: Related Content