1910 PROTESTS CONTINUE
I normally don’t post on the weekends- but it’s been a big news week.
First- let me talk a little about the street fellowship.
I saw Henry yesterday- he heard we had an ‘overnight’ fellowship the other day [had a few street guys stay over- a chance to get off the streets].
So- I did tell Hugh ‘when you see Henry- tell him he missed out on a great time!’
Sure enough- as I sat with Henry at the mission- Hugh showed up.
He told me that he let Henry know- and that Henry was kinda mad.
Henry said ‘John knows where to get me- he could have come got me!’
Henry works at the marina.
So you could tell that the gig was up- Hugh ‘outed’ Henry.
Henry tried to brush it off.
I told Henry ‘I would have come to get you- but Huey told me when he’s getting free food he prefers the ambience of a small crowd’.
Yeah- I know.
Okay- the news.
First- the current uprisings in the Arab world are very dangerous indeed.
The right and the left are sacrificing true news coverage to gain political points.
You say ‘John- I see how the right- and Romney are doing it- but the left’?
The way the left [some Democrats] are doing it is by making most of the news of the past 3 days about some stupid statement Romney made about Obama not handling the thing well.
Look- I have said I think Romney jumped the gun by criticizing Obama on the first day of the uproar- but come on- it’s been 3-4 days- okay- there's real news to cover.
Both Obama and others said Bush was actually responsible for the deaths of Americans ‘Bush lied- people died’ was the campaign mantra of John Kerry.
He said Bush was directly responsible for the deaths of Americans- because he lied.
He said this over and over and over- while the guys were dying.
So please- some of Romney’s criticism is accurate- Obama is responsible for not beefing up the security at the embassies.
Last night I heard a report that Libya actually warned the U.S. that they can’t secure the embassy in Benghazi- geez- they told us this.
So- the real story- the important story- is the ‘Arab Spring’ is now an Arab winter- but they are protesting the U.S.
What do we do?
Hopefully these protests will peter out- but if not- then we have problems.
The other big news thing.
The Federal Reserve came out and said they will start buying Govt. bonds- and they will continue to buy them until things turn around in the economy.
Once again- those on the left [Dems] are happy.
The right- not so happy.
This action will cause the stock market to go up [though it is dangerous to make it go up this way].
And we are about 50 days to the election- and it can only help the president.
Now- what exactly does QE-3 mean?
What the fed is doing is called ‘Quantitative easing’ which simply means what I said above.
This is the 3rd time they did it- that’s where you get the 3.
They feel that buying U.S. bonds will have an economic impact that will help the overall economy because it will keep interest rates real low- that will prod investors/business people to ‘get off the sidelines’ and use some of the money that is being saved.
The Federal Reserve is the nation’s own bank.
They are not run by elected officials- they have minimal oversight- and they can basically do what they want.
If they decide to print money [by buying bonds] they simply do it.
Now- when they buy U.S. debt- it’s like if you needed money.
And you wrote I.O.U.’s to people all over the world [China, Japan, etc.]
After a while- you wrote so many [16 trillion debt] you turned to your spouse and said ‘honey- I can’t write any more to the people down the block- will you buy my IOU’s?’
That’s what the fed is doing- they are buying the debt- but they are our own bank- we are selling bonds to ourselves for heaven’s sake!
Now- this will keep interest rates low- but they are already at all time lows.
You can get a mortgage at under 3%- that’s low.
This tells me that the Fed sees real problems down the road.
The world economies are in trouble- the jobs creation in the U.S. is very bad [last numbers were under 100,000].
So- the action of the fed- in my view- is one of desperation.
It’s artificially inflating the market.
In the short term- yes- you can make money.
But in a way it’s like building a house of cards- in my view.
Okay- that’s it for now- continue to pray for our country- and yes- for the president.
We are seeing a very serious situation develop around the world.
People have lost their lives.
I do commend the Libyan govt. - they tried to stop the attack that killed our ambassador- and by all accounts- they liked him- and appreciated the U.S.
The attack in Benghazi was by radicals.
Egypt is another story.
There newly elected leader- Morsi- responded like he was still the leader of the Muslim Brotherhood- not the elected president of Egypt.
He later backtracked and made a better statement.
All in all- this thing has spread to many Arab nations as of today- and we hope and pray it will only last for a few days- without loss of life.
If it grows- then we have real problems.
Note- Do me a favor, those who read/like the posts- re-post them on other sites as well as the site you read them on. Thanks- John. Don’t forget to scroll down on the timeline [Facebook] - I have posted lots.