Headline Report for Oct. 23, 2010

The top news long-term, continues to be the following ISSUES:

• Financial Crisis
• Cultural War (between the left and right), specifically ObamaCare and Islam's PC Veil. 

Short-term top news centers on the following EVENTS:

• WikiLeaks
• Final jockeying for election day Nov. 2

Financial Crisis:  Europe continues its downward spiral of financial viability as the French continue to protest the reduction of their work "birthrights" while their country continues to spend money it doesn't have (French Senate approves controversial retirement reform). Yet another indicator of the financial ignorance of the people combined with the financial raping of the country by their politicians to lead a country to the brink of collapse financially and politically.

The United States, meanwhile, continues down the same path as the effects of the Financial Crisis slowly dawn on investors (U.S. foreclosure mess chills investors, clouds market). While investors try to come to terms with the residual of the residential financial crisis the commercial financial crisis continues to unfold almost completely unnoticed by the markets (7 banks closed in Fla., Ga., Ill., Kan., Ariz.). On the other hand, investors could be studiously ignoring the commercial crisis as the FDIC's problem bank list jumped to 829 in the second quarter (from 775 in the first) and a $15.2 billion deficit of the insurance fund.

According to the story, "The FDIC expects the cost of resolving failed banks to total around $52 billion from 2010 through 2014." Yet on Nov. 13, 2009 The Washington Post ran a story about the FDIC assessing the remaining U.S. banks an "unprecedented" 3 years of fees IN ADVANCE, to be paid by the end of 09, to cover the $52 billion in loses (Banks to prepay FDIC for failures).

If you've been doing the math as you've read you can see this 'financial crisis,' writ large:
Maximum collected assessments: $45 billion
Less FDIC's expected loses: $100 billion
Less current fund deficit: $15.2 billion
Equals a minimum deficit of $70.2 billion

It doesn't take a rocket scientist to see what will happen in every branch of every bank in every state when Americans realize their deposits are at risk. The IMMEDIATE second-order effect will be a flood of 'Cash-Out' calls to investment brokers, an immediate crash in all U.S. markets and an instantaneous exponential increase in commodities, especially precious metals. The near-IMMEDIATE third-order effect will be President Obama and Sec. Geithner literally begging the Chinese for money.
And Greece thinks China is trying to buy them!

Cultural War: Opposition continues to grow to ObamaCare (HR3200) as Americans' doubt the constitutionality of the legislation (Majority want Supremes to decide Obamacare's future). At the same time the CBO has explicitly confirmed ObamaCare is anti-competitive and implicitly proclaimed it a socialist program (CBO Confirms: ObamaCare Discourages Work).

TAKE ACTION: Please visit e-VotingBooth.com, setup your FREE account, login, type "3200" in the Quick Search field and vote on ObamaCare (HR3200). Why vote a bill already enacted? Because we’re currently building our Voting Scorecard. This tool is effectively a report card and will list all your votes alongside your representative, senators, VP and President, where applicable. The bottom line number for each public servant will be a percentage indicating how each voted with or against your personal legislative desires. For example, 80% means the public servant, or potential public servant, voted with you 80% of your total votes. This is powerful information every American should have and use when making future election decisions. Though not live on the site yet, the database has been built and is current with all Roll Calls to-date.
 
Meanwhile, a Pakistani Taliban member very courageously filmed and delivered a brutal Taliban stoning of a woman "for the crime of 'being seen with a man'" (Shocking video captures brutal Islamic stoning). Coincidentally, but appropriately, Sarah Palin called for honestly and fully addressing the issue in the wake of the Juan Williams/NPR fiasco (SARAH PALIN: We Must Have An Honest Discussion About the Jihadist Threat).

WikiLeaks: Amazingly, the U.S. government remains impotent as Julian Assange, et al., continue their sedition with the largest unauthorized release of classified information in U.S. history. Perversely, the Obama Administration may benefit as the data dump documents Iran's extensive involvement with militias in Iraq (Will Barack Obama admit extent of Iran's role in Iraq, laid bare by WikiLeaks?).

2010 Election: Will it be dilution or deletion on Nov. 2 as Democrats support third parties (Democrats Back Third Parties to Siphon Votes) and Rush Limbaugh warns the Tea Party may just burst the cognitive dissonance bubble of the Republican (and Democrat) Party (Limbaugh warns GOP, 3rd party could take its place)! Only 11 days to wait for the answer.