New Gallup poll: “Of remaining 3 candidates, who does America least want as President, and why?”

FROM CNN’s Jack Cafferty (see original plus mass opinions here):

Here’s a twist on the polls you see every day: A new Gallup survey asks people which of the three remaining candidates they least want to see elected president in November. 40% of those surveyed say they don’t want John McCain, 36% say they don’t want Hillary Clinton and 20% say they don’t want Barack Obama.

(Cafferty points out, interestingly, that 12% of those who least want Barack Obama as President say it is “because he is a Muslim,” which he is not.)

…Visit Jack’s original post to see why most people felt how they felt about each candidate and put in your own two cents.

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Jim Rogers says U.S. Should Abolish the Federal Reserve Bank on CNBC, 3/12/08

“We’re in Challenging times.” -President George W. Bush after hearing about Bear Stearns bail out.

Excerpt from original article (click to read.) by

Tuesday, March 18, 2008:

“The extraordinary unraveling of securities giant Bear Stearns Cos., one of the pillars of the Wall Street establishment, has taken the anxiety gripping the nation’s financial markets to a whole new level, threatening to deepen the agony of an economy that already is on its knees.

Over the past six months, a crisis that began when home loans to high-risk borrowers started to sour has cascaded into a near-panic in which the downfall of a big securities firm threatens the stability of the nation’s financial system.

“This is a once- or twice-in-a-century event, and no one knows the downside,” said Ian Morris, chief U.S. economist at the British bank HSBC.

If U.S. credit markets were to seize up, Main Street businesses and ordinary households would be all-but-unable to borrow, which would have a dire effect on spending, investment and jobs. That’s why the Fed is jumping in, economists stress.

“It’s not that the Fed cares about one particular firm. It’s more that the failure of one firm has an effect on the entire financial system,” Morris said. “Other players hoard cash out of a fear of lending to each other. The system freezes up and produces domino effects.”

Bear Stearns is the most prominent casualty to date of what was once called the subprime mortgage crisis but has long since transformed into an economy-wide credit chill.

The storied 85-year-old brokerage, known as one of the powerhouses of the bond market, came to the brink of failure after losses on mortgage-related holdings scared other investment firms away from dealing with it. Its failure might have touched off a panic in which banks and brokerages stopped lending each other money, bringing the financial system to a near meltdown with incalculable consequences for the broader economy, market watchers say.

The Federal Reserve, fearing the fallout from the collapse of one of the securities industry’s biggest players, took a series of unprecedented measures to shore up the financial system over the weekend. After arranging the forced marriage of Bear Stearns to rival JPMorgan Chase & Co., the nation’s central bank took steps Sunday to make itself both the ultimate guarantor of a wide range of debt and the lender ready to step in when other creditors are racing for the exits.

On Monday morning, President Bush huddled with his economic advisers and said afterward: “We’re in challenging times.””

Dollar sets record low against the euro after Carlyle Group fund defaults on $16.6 billion of debt; Gold hits record high as investors seek shelter.

Published in original form on March 13 by Bloomberg.com (see entire article by clicking here):

“– The dollar fell below 100 yen earlier today for the first time since 1995 and set a record low against the euro after a Carlyle Group fund defaulted on about $16.6 billion of debt, adding to turmoil in financial markets.

The dollar fell to almost one-for-one with the Swiss franc and slumped against the British pound. The drop came as Carlyle said lenders will seize the assets of its mortgage-bond fund, a day after Drake Management LLC said it may shut its largest hedge fund, spurring concern that losses will widen. The tumble in the world’s reserve currency drove gold to a record above $1,000 an ounce as investors sought shelter in the metal.

“The weakening, in reality, is a reflection on how the world is measuring the U.S.,” said Thomas Sowanick, who helps manage $10 billion as chief investment officer of Clearbrook Financial LLC in Princeton, New Jersey. “Until there is a unified central bank effort to support the dollar, the path of least resistance will be down.”

The dollar fell to 99.77 yen, the lowest since October 1995, before trading at 100.68 at 4:20 p.m. in New York, from 101.79 yesterday. The dollar touched $1.5626 per euro, the weakest since the European currency’s debut in 1999, and was at $1.5622, from $1.5551. It slid to a record 1.0045 Swiss francs. Japan’s currency advanced to 157.27 per euro, from 158.30.

The U.S. currency fell against a basket of six major trading partners to the lowest since the index began in 1973. The Dollar Index traded on ICE Futures in New York declined as low as 71.795. The dollar dropped to $2.0320 per pound from $2.0270, touching the weakest since December.

`So Many Holes’

The dollar pared its losses as stocks reversed a decline, after Standard & Poor’s said the end of subprime-related losses is “in sight” for large financial institutions. The S&P 500 index rose 0.5 percent, after earlier losing as much as 2 percent.

“The dollar is trying to find a floor here,” said Alan Kabbani, a senior currency trader at Wachovia Corp. in Charlotte, North Carolina. “The boat has so many holes that it takes a while to fix it.”

Treasury Secretary Henry Paulson reiterated support today for a “strong dollar” that reflects economic fundamentals, after President George W. Bush yesterday said the U.S. currency’s drop was not “good tidings.”

Person George W. Bush
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Video of US Congressman, Ron Paul, M.D. in 1988, 20 years ago, passionately standing up for the same beliefs he supports today.

Ron Paul has:

-been a U.S. Congressman for 17 years, from 1979-1985 and from 1997 to present;

He has been a Flight Surgeon in the U.S. Air Force from 1963-1965, and a flight surgeon in the U.S. Air National Guard from 1965-1968; been married to the same woman for 50 years;-Never voted to raise taxes; Never voted for an unbalanced budget; Never taken a government paid junket;

Never voted to increase the power of the executive branch; Never voted to restrict gun ownership;

Voted against the Patriot Act;

Voted against regulating the Internet; Voted against the Iraq War;

Does not participate in the lucrative Congressional pension program;

Returns a portion of his annual Congressional office budget to the U.S. Treasury every year; been a ‘Distinguished counselor’ to the Ludwig von Mises Institute;

delivered more than 4,000 babies; written 2 books:

  • Challenge to Liberty: The Case for Gold by Ron Paul
  • A Republic, If You Can Keep It by Ron Paul
  • Dr. Paul’s consistent voting record prompted one Congressman to comment that “Ron Paul personifies the Founding Fathers’ ideal of the citizen-statesman. He makes it clear that his principles will never be compromised, and they never are.” Another Congresswoman added that “There are few people in public life who, through thick and thin, rain or shine, stick to their principles. Ron Paul is one of those few.”

“It is not we non-interventionists who are isolationists. The real isolationists are those who impose sanctions and embargoes on countries and peoples across the globe and who chose to use force overseas to promote democracy…a counterproductive approach that actually leads the U.S. to be more resented and more isolated in the world.”–Ron Paul
“Peace is not the absence of conflict. It is the ability to handle conflict through peaceful means.” -Ronald Reagan

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy. -U.S. Congressman from Texas, Ron Paul, M.D.

“The greatest threat facing America today is not terrorism, or foreign

economic competition, or illegal immigration. The greatest threat

facing America today is the disastrous fiscal policies of our own

government, marked by shameless deficit spending and Federal Reserve

currency devaluation. It is this one-two punch -Congress spending

more than it can tax or borrow, and the Fed printing money to make up

the difference -that threatens to impoverish us by further destroying

the value of our dollars.”

“Unfortunately no one in Washington, especially those who defend the

poor and the middle class, cares about this subject. Instead, all we

hear is that tax cuts for the rich are the source of every economic

ill in the country. Anyone truly concerned about the middle class

suffering from falling real wages, under-employment, a rising cost of

living, and a decreasing standard of living should pay a lot more

attention to monetary policy.”

-Texas Congressman Ron Paul, M.D., April 10, 2007

People have hope:

“The official national debt figure, now approaching $9 trillion,

reflects only what the federal government owes in current debts on

money already borrowed…It does not reflect what the federal

government has promised to pay millions of Americans in entitlement

benefits down the road…Those future obligations put our real debt

figure at roughly fifty trillion dollars -a staggering sum that is

about as large as the total household net worth of the entire United

States…Your share of this fifty trillion amounts to about $175,000.”

-Texas Congressman Ron Paul, M.D. March 6, 2007

CNNMoney (See original article here.) By Brian O’Keefe, senior editor, quoting Jim Rogers on the US economy right now:

“Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I’m afraid it’s going to be much worse,” he says. “Bernanke is printing huge amounts of money. He’s out of control and the Fed is out of control. We are probably going to have one of the worst recessions we’ve had since the Second World War. It’s not a good scene.”

(The central bank’s second interest rate cut in a week raises the risk of inflation and bails out the banks.)

(Interest rate cut=increased money supply=inflation=hard times for poor and working families)

Rogers looks at the Fed’s willingness to add liquidity to an already inflationary environment and sees the history of the 1970s repeating itself. Does that mean stagflation? “It is a real danger and, in fact, a probability.”

The dollar headed for the biggest weekly loss against the euro since December after Federal Reserve Chairman Ben S. Bernanke signaled the bank may cut interest rates further to avert a recession.

(click play on video below to see more…)

the following is an excerpt of Feb. 15 (Bloomberg) article by By Stanley White and Kosuke Goto– “The dollar headed for the biggest weekly loss against the euro since December after Federal Reserve Chairman Ben S. Bernanke signaled the bank may cut interest rates further to avert a recession.

The currency traded near a one-week low versus the euro as Bernanke said the Fed “will act in a timely manner as needed to support growth.” The allure of U.S. assets diminished as the yield premium of European government bonds over Treasuries widened to the most in more than a week.

“The dollar will remain weak today after Bernanke’s speech,” said Motonari Ogawa, vice president of interest-rate products and foreign exchange in Tokyo at Morgan Stanley, the second-largest U.S. securities firm. “The U.S. yield disadvantage is increasing. I was about to turn into a dollar- bull, but I’m now rethinking it.”

CNNMoney (See original article here.) By Brian O’Keefe, senior editor, quoting Jim Rogers on the US economy right now:

“Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I’m afraid it’s going to be much worse,” he says. “Bernanke is printing huge amounts of money. He’s out of control and the Fed is out of control. We are probably going to have one of the worst recessions we’ve had since the Second World War. It’s not a good scene.”

(The central bank’s second interest rate cut in a week raises the risk of inflation and bails out the banks.)

(Interest rate cut=increased money supply=inflation=hard times for poor and working families)

Rogers looks at the Fed’s willingness to add liquidity to an already inflationary environment and sees the history of the 1970s repeating itself. Does that mean stagflation? “It is a real danger and, in fact, a probability.”

Great explanation of what is going wrong with our economy and why we should be upset on behalf of the people and the founding fathers: