RUSH: Wall Street Journal today, Peter Wallsten and Sudeep Reddy: "The Federal Reserve's latest attempt to boost the US economy is coming under fire from Republican economists and politicians, threatening to yank the central bank deeper into partisan politics. A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional US Treasury bonds. ... The increasingly loud criticism of the Fed comes as some economic officials outside the US are criticizing the central bank's move to effectively print money, which has the side effect of pushing down the dollar on world currency markets. President Barack Obama last week defended the Fed." Of course he would, because he's all about the weakening of the US dollar and the weakening of the US economy. Somebody has a great piece in the stack here. I will give them proper credit when I get to it. I don't have it in front of me so I can't remember who it is that wrote this. It might be the Journal. I'll find it in a second.
Obama thinks he's gaining favor in the world by running around apologizing for us, apologizing for our transgressions, apologizing for our superpower status, apologizing for all of the evil and all the immoral, unjust actions that the United States has taken. He thinks he's gaining favor with people, and what he's actually doing is diminishing not just the country but himself as well. And that could not be more accurate. It's evidenced by his utter failure at this G20. Never do you go on such a prominent, publicized meeting like this without some concrete deal already agreed to in advance. You don't go to a major meeting like this and subject yourself to potential embarrassment and humiliation, and it's exactly what happened. He took it on the chin on virtually every agreement that he tried to hammer out. The world is not responding to the way Obama sees this country. They don't want to see America the way he does. They don't want to hear America apologized for. They need us.
Obama has been raised to believe all these people around the world hate us, hate America, and have deep resentment for us. He's bought into all that because Reverend Wright told him that, 'cause Reverend Wright thinks the rest of the world hates us. The rest of the world may say they do, but down at the economic level of dollars and cents they need us. They don't like a president running around diminishing his own country because he's diminishing himself. This does not make the world a safer place. It does not make it a better place. It does not bode well for the future. This guy is an utter wrecking ball all by himself on the world stage to the point now of getting embarrassing. This presidency of Obama's, it doesn't take much to irritate the left. Try this: "Barack Obama's presidency is graffiti on the walls of American history." That's what his administration is. No more than graffiti on the walls of American history. We have a juvenile delinquent for a president who has ruined so much public and private property, not even his gang is making much of an effort here to protect him. It's an utter disaster.
And this move by the Federal Reserve to devalue the dollar, this doesn't bode well. The problem with deflation, if you're curious, is that it causes people to sit on stockpiles of money. Why spend a dollar today if it will buy you a dollar and fifty worth of something tomorrow? If things are gonna continue to get cheaper, why spend today? That's the theory of deflation. The problem with deflation is when providers of services and manufacturers of products cannot even break even, they stop producing and servicing. Then you have an utter slowdown and stoppage. So they're trying to inflate here with the printing of this money to avoid the dreaded deflation and this is causing panic. Inflation is not good, either. So it's an utter mess. The one thing that works that has not been tried is just hands off here. Stop all the regulating, stop all the stimulating, stop all the printing of money, stop all this and just cut some marginal tax rates and get out of the way and let the American people in the US economy revive it themselves. That's how it always happens and it will again if these eggheads would just get out of the way.
RUSH: More hilarity, Politico: "Freudian Slips May Haunt Obama." Now, this is just absurd. This is from a news bunch that looked the other way when it was time to tell everybody the truth about Barack Obama. This is a bunch of people who saw only a historical figure, who only saw the first black president as a candidate, and said everything else doesn't matter. We gotta do whatever we can to move this guy along, to further his candidacy. And only now after the utter devastation of this graffiti written presidency do we get this story: "Freudian Slips May Haunt Obama -- President Barack Obama, fresh from his drubbing in the 2010 midterms, is trying to revive his fortunes by pursuing a path toward the middle." (laughing) Right. "But Obama's effort to overhaul his image is encumbered by conflicting impressions of who he is that have been engraved in voters' minds by his own words." No, no, no, no, no. Not just his own words, Politico. Who he is has been engraved in people's minds by virtue of what you and others in the State-Controlled Media told us about Obama.
The next hilarious paragraph: "During unguarded and even some staged -- but inadvertently revealing -- moments, Obama has allowed unintended glimpses into his thinking. At various times, his offhand comments have led critics, and many voters, to view him as an ardent leftist or an elitist or -- most recently -- a partisan Democrat." Oh, no! Obama is screwing up. He's actually making Freudian slips that allow people to see, falsely, that he's a partisan Democrat, an ardent leftist. So is this silly notion he's moving to the middle. This is more covering for the guy. "These Freudian slips, uncovering the man beneath the spin and the speeches, are embedded in Americans' subconscious, if you will, because they seem to come directly from the president's inner self. Obama can change his policies, but he cannot easily erase these perceptions. And because of his cool opaqueness -- noted even by his own staff -- and his relatively brief track record on the national stage, voters have little else to go on." Yeah, why do they have little else to go on? Because people in the media have refused to do their jobs. He wasn't vetted. This is beyond Freudian slips.
Every time I read a story like this I'm reminded of that sound bite we played, Charlie Rose and Tom Brokaw (imitating Rose and Brokaw) "I don't know who he is. I don't know what books he's read. I don't know who his mentors are." Well, find out. You are reporters! Everybody knows who Obama is. That's what the 2008 midterm elections were all about. They even talk about it here. "First, there was his condescension toward blue-collar Midwestern voters. At a San Francisco fundraiser, he said, 'They get bitter, they cling to guns.' ... The remark suggested he's an elitist." Suggested he's an elitist? He is an elitist. "But then came the actual policies of President Obama, and they seemed to fill in the outlines suggested by these earlier glimpses. ... Other presidential Freudian slips even left a sense that Obama is hostile to accumulating wealth."
It's not a Freudian slip. It is the truth. It is a reality. He is hostile to the accumulation of wealth and he's doing everything he can to take wealth from people who have earned it and give it to those who haven't, redistribute it. These are not Freudian slips. Here's the Politico writing a piece: You guys are misunderstanding Obama, he's really not what these Freudian slips indicate. So it's just more covering. What this means is that inside the bowels of the Democrat Party, as I began to tell you last week, they really know they've got a problem. They don't want this guy running for a second term. They don't want him even thinking about it.
RUSH: Also a memo to the Politico. A Freudian slip is nothing more than an actual revelation of the truth, an unintentional revelation of the truth. They're totally mischaracterizing these Freudian slips, Obama mistakenly telling people something. No, he's revealing who he is by accident. They know it and that's what they're worried about.