How This Recession Has Battered Mainstream Economists: An Austrian Opportunity by Gary North March 9, 2012Posted by Economics9698 @ 19:05 PM North gre

North grew up in southern California, the son of FBI special agent Samuel W. North, Jr., and his wife, Peggy. North converted to Christianity in high school and began frequenting right-wing bookstores in the Los Angeles area during his college years. Between 1961 and 1963, while an undergraduate student, North became acquainted with the works of Austrian School economists Ludwig von Mises, F.A. Hayek, and Murray Rothbard.
During the same period, he began reading the works of ultra-conservative Presbyterian minister Rousas John Rushdoony. North made it his life’s work to synthesize Austrian Economics with Rushdoony’s theological conservatism. Starting in 1967, North became a frequent contributor to the libertarian journal The Freeman where he had first read their work. He later joined the senior staff of the publisher, the Foundation for Economic Education (FEE), 1971–73. North received a PhD in history from the University of California, Riverside in 1972. His dissertation was The Concept of Property in Puritan New England, 1630–1720.
He served as research assistant for libertarian Republican Congressman Ron Paul in Paul’s first term (1976), and he shared a small office with the staunchly Calvinistic political philosopher, John W. Robbins, who later became a noted anti-Van Til, pro-Clark presuppositional apologist, author, and publisher. Also on the staff was economist and historian Bruce Bartlett, although in his pre-supply-side economics days. Many of North’s articles have appeared on LewRockwell.com.

What Federal Departments Should be Eliminated? 90% of Them

Llewellyn H. Rockwell Jr. is chairman of the Ludwig von Mises Institute in Auburn, Alabama, editor of LewRockwell.com, and author of The Left, the Right, and the State.
One of the big myths out there believed by both the left and right is that we need the federal government to regulate profit crazed maniacs who would sell our children morphine and poisoned milk. Little thought goes into this logic peddled on Main Street. It is accepted as gospel, capitalist are crazed lunatics willing to kill grandma to make a profit.
But if a company sold a harmful product wouldn’t they get sued if we had property rights enforced?
Hush citizen!
The truth is the federal agencies are there to protect the elites by crushing Main Street. And Main Street supports the theft. We are held hostage by a privileged class and we enjoy it, often refereed to as the Stockholm Syndrome.
It is a wonderful thing for the government thugs when they can steal your money and brainwash your children into believing the theft is justified by educating helpless children in government schools. 90% of Americans are brainwashed fools, and we don’t even realize it.
And to top it off the thieves get the people to play blue team/red team politics so the theft is concealed from the public. Like a magician the ignorant masses are fooled year after year. Go Red Team/Go Blue Team!!! Ra, ra, ra.
Below is a blog from Ludwig von Mises on 2-29-2012 by http://www.lewrockwell.com/.
The article briefly covers the regulatory history that should be taught in Universities and Colleges across America. Instead we get “government is good, fiscal policy” and “Federal Reserve is good, monetary policy” propaganda. Complete hog wash economics that is nothing but a smoke screen to hide the elites theft from the public. For every 100 students who take economics maybe 1 will see the malicious fairy tales for what they really are.

Ted Kennedy lived like a king while wishing the rest of Americans lived like peasants and obedient servants. When it was his turn to die he turned to capitalist private doctors to save his life

Enjoy;
“Socialists want socialism for everyone else, but capitalism for themselves, while capitalists want capitalism for everyone else, but socialism for themselves.
Neither Ted Kennedy nor Jane Fonda practices a vow of poverty, nor are they taking any homeless into their mansions, while too many big companies try to short-circuit the market with government privileges. And one way they do it is through the regulatory agencies that acne Washington, DC.
If I may make a public confession (counting on the charity of Mises Daily readers): I used to work for the US Congress. I’ve since gone straight, of course, but the experience had its value, much as the future criminologist might benefit from serving with the James Gang.
For one thing, being on Capitol Hill showed me that, unlike the republic of the Founding Fathers’ vision, our DC Leviathan exists only to extract money and power from the people for itself and the special interests.
Ludwig von Mises called this an inevitable “caste conflict.” There can be no natural class conflict in society, Mises showed, since the free market harmonizes all economic interests, but in a system of government-granted privileges, there must be a struggle between those who live off the government and the rest of us. It is a disguised struggle, of course, since truth threatens the loot.

Department of Energy secretary Steven Chu, Socialism for the masses and capitalism for me

When I worked on Capitol Hill, Jimmy Carter was bleating about the energy crisis and promising to punish big oil with a “windfall profits tax.” But I saw that the lobbyists pushing for the tax were from the big oil companies.
And, after a moment’s thought, it was easy to realize why. There was no windfall-profits tax in Saudi Arabia, but it did fall heavily on Oklahoma. And as intended, the tax aided the big companies that imported oil by punishing their competitors, smaller, independent firms.
In the ensuing restructuring of the industry, also brought about by the price and allocation regulations of the Department of Energy, the big firms bought up domestic capacity at fire-sale prices, and then the Reagan administration repealed the tax and the regulations. Meanwhile, the big companies received contracts from the Department of Energy to produce money-losing “alternative fuels.”
In every administration, the tools of inflation, borrowing, taxation, and regulation are used to transfer wealth from the people to the government and its cronies.
At times, one or another of these tools becomes politically dangerous, so the government alters the mix. That’s why the Reagan administration switched from taxes and inflation to borrowing, and it’s why the Bush administration, with the deficit a liability, calls for more taxes, inflation, and regulation.
Authors note, here are the White House Tables, Table 1-3, that prove Reagan had no interest in reducing the size of government. Reagan set the then post WWII record for a budget deficit of 6% of GDP in 1983, a record that was not broken until the Obama Administration.
A tremendous amount is at stake in the re-regulation of the economy advocated by the Bush administration. Just one clause in the Federal Register can mean billions for a favored firm or industry, and disaster for its competitors, which is why lobbyists cluster around the Capitol like flies around a garbage can.
While claiming to need more money for — among other vital projects — a trip to Mars supervised by Dan Quayle, the president is boosting the budget of every regulatory agency in Washington.
Here are just some of those agencies, and the way they function: Founded by Richard Nixon, the Occupational Safety and Health Administration is an antientrepreneur agency. Not only does OSHA target small- and medium-sized businesses, its regulatory cases are easily handled by Exxon’s squad of lawyers, while they can bankrupt a small firm.
Also founded by Nixon, the Consumer Product Safety Commission issues regulations drawn up in open consultation with big business — regulations that often conform exactly to what those firms are already doing. Small businesses, on the other hand, must spend heavily to comply.

EPA Secretary Lisa P. Jackson lives the good life on the taxpayers dime protecting special interest groups

Another Nixon creation is the Environmental Protection Agency, whose budget is larded with the influence of politically connected businesses, and whose regulations buttress established industries and discriminate against entrepreneurs — by, for example, legalizing pollution for existing companies but making new firms spend heavily.
The Department of Housing and Urban Development was founded by Lyndon B. Johnson, but its roots stretch back to the housing policy of the New Deal, whose explicit purpose was to subsidize builders of rental and single-family housing. Since LBJ’s Great Society, HUD has subsidized builders of public-housing projects, and of subsidized private housing. How can anyone be surprised that fat cats use HUD to line their pockets? That was its purpose.
The Securities and Exchange Commission was established by Franklin D. Roosevelt, with its legislation written by corporate lawyers to cartelize the market for big Wall Street firms. Over the years, the SEC has stopped many new stock issues by smaller companies, who might grow and compete with the industrial and commercial giants aligned with the big Wall Street firms. And right now, it is lessening competition in the futures and commodities markets.
The Interstate Commerce Commission was created in 1887 to stop “cut-throat” competition among railroads (i.e., competitive pricing) and to enforce high prices. Later amendments extended its power to trucking and other forms of transportation, where it also prevented competition. During the Carter administration, much of the ICC’s power was trimmed, but some of this was undone in the Reagan administration.
The Federal Communications Commission was established by Herbert Hoover to prevent private property in radio frequencies, and to place ownership in the hands of the government. The FCC set up the network system, whose licenses went to politically connected businessmen, and delayed technological breakthroughs that might have threatened the networks. There was some deregulation during the Reagan administration — although it was the development of cable TV that did the most good, by circumventing the networks.
The Department of Agriculture runs America’s farming on behalf of producers, keeping prices high, profits up, imports out, and new products off the shelves. We can’t know what food prices would be in the absence of the appropriately initialed DOA, only that food would be much cheaper. Now, for the first time since the farm program was established by Herbert Hoover, as a copy of the Federal Food Administration he ran during World War I, we are seeing widespread criticism of farm welfare.
The Federal Trade Commission — as shown by the fascist-deco statue in front of its headquarters — claims to “tame” the “wild horse of the market” on behalf of the public. Since its founding in 1914, however, it has restrained the market to the benefit of established firms. That’s why the chief lobbyists for the FTC were all from big business.
When then-Congressman Steve Symms (R-ID) tried to partially deregulate the Food and Drug Administration in the 1970s to allow more new drugs, he was stopped by the big drug companies and their trade association. Why? Because the FDA exists to protect them.
OSHA, CPSC, EPA, HUD, SEC, ICC, FCC, DOA, FTC, FDA — I could go on and on, through the entire alphabet from Hell. I have only scratched the villainous surface. But according to the average history or economics text, these agencies emerged in response to public demand. There is never a hint of the regulatory-industrial complex. We’re told that the public is being served. And it is: on a platter.”
Llewellyn H. Rockwell Jr. is chairman of the Ludwig von Mises Institute in Auburn, Alabama, editor of LewRockwell.com, and author of The Left, the Right, and the State. Send him e-mail, rockwell@mises.org.

Moral Hazard

David Li's paper "On Default Correlation: A Copula Function Approach" (2000) was the first appearance of the Gaussian copula applied to CDOs, which quickly became a tool for financial institutions to correlate associations between multiple securities. This allowed for CDOs to be supposedly accurately priced for a wide range of investments that were previously too complex to price, such as mortgages. However in the aftermath of the Global financial crisis of 2008–2009 the model has been seen as fundamentally flawed and a "recipe for disaster". According to Nassim Nicholas Taleb, "People got very excited about the Gaussian copula because of its mathematical elegance, but the thing never worked. Co-association between securities is not measurable using correlation"; in other words because past history is not predictive of the future "anything that relies on correlation is charlatanism."

Definition of ‘Moral Hazard.’
The risk that a party to a transaction has not entered into the contract in good faith, has provided misleading information about its assets, liabilities or credit capacity, or has an incentive to take unusual risks in a desperate attempt to earn a profit before the contract settles.
As we wind down into the last days of the biggest Ponzi scheme ever created a few banking details that are now common will seem so absurd in just a few years. We will look back at these days and wonder how this generation could be so insane.
We all know the answer deep inside, people like to believe they can get something for nothing. Politicians, bankers, and Wall Street put out the bait, riches, benefits, the lifestyle, like a drug dealer offering free crack cocaine. At first people are curious, they pause and wonder…
Soon some begin to take the drugs, the freebies. Nothing happens, they feel good. They tell others. Soon there is a mad rush for the freebies. The freebies are made into law. The law is glorified. And the drug addiction sets in, skillfully placed there so carefully by politicians and bankers who now have the ability to plunder millions from the economically illiterate citizens.
Once addicted to the freebies reason disappears and all that remains is the constant drive for the high. The addicted citizens will pay any price to keep the freebies coming, the addiction consumes them.
The world disappears all around the victims as they focus on getting high, nothing else is relevant. Get high, get more freebies than the next guy, and make it through another day, maybe a week, but keep getting high. More Social Security, Medicaid, Medicare, education, college, birth control, the list is endless. The quest for financing the sickness reaches epoch proportions. The dope must be delivered!!!
That is were we are today. Wall Street, Washington, Europe, China, Japan, begging for just one more fix of “dope,” money, liquidity, quantitative easing, mortgage swaps, credit swaps, discount windows, money, money, money. The dope must be administered to the finance Wall Street junkies, retires, welfare recipients, food stamp recipients, the dope MUST be delivered at all cost! Dope, dope, dope, we need dope!
The Federal Reserve will be there to satisfy the junkies. And the Central Bank of Japan, the Central Bank of China, the European Central Bank, all there to create the dope that the world’s financial elites, and dependents crave and must have to survive.
Below are some observations from some people actually working in finance, some on Wall Street, who see the insanity for what is…suicide. The quotes are actual with interpretations as well as cleaning up the language.

The first one is from “Stak Edwards”
“I think to myself how ridiculous the “official” story of the financial collapse is. We the people are supposed to believe that after hundreds if not thousands of years of banking history by which to go on, that all of the sudden some physicist (David Li) came up with a formula by which prudent underwriting of loans was no longer needed. And that we should abandon prudent underwriting now as it is no longer necessary.
Yeah right.
What a line of bull. Now we can lend to people with no job and poor credit virtually any amount, because this physicist came up with a new formula that can somehow distribute this risk. It could not possibly be that since the big banks were using Other Peoples Money and therefore had no stake in the outcome that they really could care less as long as they got their fee out of the deal. It is such a crock of crap.”
The moral hazard here is federal government is afraid to come out and say our biggest financial institutions are run by crooks. Furthermore, these crooks own the FED, so we are apparently SOL.
Unfortunately for the citizens who suffer we now condone fraud to benefit these bankers because they just cannot secure sufficient wealth for themselves by running legitimate banking operations. No, as is typical of our federal government they would rather lie, obfuscate, deny, and generally cover up the banks wrong doing. Oh, and give em a few hundred billion for their hard work, of taxpayer money no less. What a sad state of affairs. Or throw some fines on them and also provide taxpayer money to pay said fines. Move money from the left pocket to the right pocket in a show of solidarity with the citizens.
BTW, I don’t think the deadbeats were the victims here. No they got the couple years free ride they are used to getting. The victims IMO were the prudent that put big down payments and now find themselves not only without equity but deep underwater. They find that not only that, Bernanke has decided to further financially repress said people by not allowing them to earn any interest on their savings.”
Authors comment; The Federal Reserves zero interest rate policy (ZIRP) punishes savers, many of whom are the elderly on fixed incomes. Standard banking procedure would be to set the interest rate 2% to 4% above the inflation rate or 2.9% + 3% = 5.9% in today’s climate.
Continue on with Stax Edwards;
“They find that they have lost their jobs and must spend their retirement money to get by.
Thomas Jefferson called it when he said first by inflation then by deflation….The banks will inherit the earth. For the deadbeats, we have federal government programs to relieve them of responsibility. For the prudent, the banks have their assets to attack if they walk.
I only wish Fisher were serious when he said he supports breaking up To Big To Fails (TBTF’s). I fear this was lip service since they are the shareholders he reports to. Got to go vomit now, I am getting physically ill.”

From fnord88;
Authors note; Prior to 1913 and the creation of the Federal Reserve inflation was virtually zero. For thousands of years gold and silver were used as the medium of exchange because it was portable, limited in supply, easy to verify value by weight, store of value and a unit of account. When there is no inflation economic decisions by everyday people are simplified tremendously,
do I spend,
do I save,
do I invest.
Continued with fnord88;
“Exactly, capitalism based around constant inflation is the biggest fu…… scam in the history of the world. It forces everyone to become speculators. And the more I read and think, the more I become convinced that speculation is the root of many of our problems.
Not just because it forces people to gamble with money they should be able to save, but because speculation is based around two competing emotions: fear and greed. Spend long enough with those two emotions dominating your personality; you turn into a psychopath. Seriously.
I should have been clearer. For those of us the enjoy risk, speculation is fine, its a way of getting ahead using brain power rather enslaving oneself to some company that does not give a crap about you.
For people like my mother though, who just retired after 45 years teaching disabled kids, who have only self funded superannuation, it’s fu….. evil.

Inflation before 1913 was virtually zero. There is no need for this chart before 1913.

Government in Australia forces you to put money into super, which is then ripped of by money managers with ridiculous fees, and then invested in the stock market only to lose most of it. Instead of being able to retire and live comfortably after a life of putting others first, now she, and her family, have to stress and worry about money probably until the day she dies. Makes me want to shoot somebody in the fu…. head.”
Authors note; The problem for the United States started in 1913. That was the Woodrow Wilson administration, not Reagan, Bush, or Obama. That was the year we started the Federal Reserve, ended state legislature elections of senators, and instituted the federal income tax.
With the coming worldwide collapse of the fiat currency, 2 years, 6 years, everyday people need to understand sound money and our current unsound fiat money. Some clear goals should be followed when our society is rebuilt after the bankruptcy.
1. Federal governments restricted to consuming no more than 11% of the GDP.
2. Gold/silver used as bank reserves.
3. No central bank, let banks issue their own currency. With modern communications this would be very simple task.
Getting banking and money out of the worlds federal governments hands would ensure balanced budgets, balance trade, promote essentially one currency worldwide, eliminate theft by politicians, elites, and other parasites.
There would be a end to economic distortions in the economy and people could go back to being free and productive. Their economic choices would be simplifies into;
1. Do I spend my money?
2. Do I save my money?
3. Do I invest my money?
I think we can all handle that.

Latest Wikileaks Dump Shows 2008 Election was a Fraud

Wikileaks Founder Julian Assange
From: Fred Burton [mailto:burton@stratfor.com]

Sent: Friday, November 07, 2008 7:41 AM
To: secure@stratfor.com
Subject: Insight – The Dems & Dirty Tricks ** Internal Use Only – Pls Do
Not Forward **
** Internal Use Only – Pls Do Not Forward **
1) The black Dems were caught stuffing the ballot boxes in Philly and Ohio as reported the night of the election and Sen. McCain chose not to fight. The matter is not dead inside the party. It now becomes a matter of sequence now as to how and when to “out”.
2) It appears the Dems “made a donation” to Rev. Jesse (no, they would never do that!) to keep his yap shut after his diatribe about the Jews and Israel. A little bird told me it was a “nice six-figure donation”. This also becomes a matter of how and when to out.

John McCain was never serious about winning the 2008 election, it was just another military operation to promote diversity

3) The hunt is on for the sleezy Russian money into O-mans coffers. A smoking gun has already been found. Will get more on this when the time is right. My source was too giddy to continue. Can you say Clinton and ChiCom funny money? This also becomes a matter of how and when to out.
A second Wikileaks cable indicates that 2008 Republican Presidential candidate John McCain decided not to pursue legal action against the Democrats for engaging in voter fraud. The candidate believed that to do so would have thrown the country into civil unrest, and thus, he let the matter drop.
Emails between Stratfor staffers indicate that McCain’s actions were viewed as baffling, to say the least.
Conservatives are not dumb. McCain never wanted to win the election. McCain is a statist and he intentionally sabotaged the election when he let the novice Palin run around with the NYC press skank Couric for days. McCain knew better, Palin did not.
McCain agrees with Obama’s positions on everything and probably felt Obama would be a good example as a black president.
There never was a serious effort by McCain to win the election. No attacks on Obama’s communist past, no investigations into Obama’s college days and his drug mule trip to Pakistan, which gave Obama the money to get his Columbia degree, nothing of substance.

The 2008 election was a complete fraud.
The only way I knew of Obama was the Israeli Defense Force was feeding a NYC blogger Pamela Geller some pretty good information prior to the election. She tried desperately to get some attention in the MSM and was completely ignored. Sean Hannity is the only MSM personality to cover Obama’s “radical past.”
As for the corruption that is well known about. American elections have been frauds. The 2000 stolen election was a payback by Republicans for the 1960 Democrat stolen election.
We do not have fair elections in America, never. Its a myth just like freedom, justice, and the American way. We are a superpower, other people buy our bonds, we live well and write history.

Talk Show Hack Mark Levin Attacks Libertarian Murray Rothbard

Levin, the Neocon, fight every war for Israel. talk show host Mark Levin attacked Murray Rothbard and Ron Paul on his radio show.
To cut to the chase Levin is a Israel first, America second war monger who believes in the Federal Reserve because it finances his NYC elites lifestyle for which they have become accustomed too, and the war machine that defends Israel.
Rothbard exposed the corrupting oppressiveness role of the federal government and the rip off artist at the Federal Reserve in several books including “Americas Great Depression” and the “History of Money and Banking in the United States.”
Levin cannot stand, what he considered a traitor to the Zionist cause, Rothbard, exposing all the secrets of banking and theft by the elites to the unwashed masses. Levin cannot stand someone like Ron Paul standing up to the Zionist government in Washington and standing that financial aid to Israel should be cut off and Israel left to make peace with its neighbors. That is what the fuss is about.
Rothbard was a man who got pissed off about one class of elites ripping off another class of citizens using purposeful economic ignorance and deception. He exposed the elites rip off techniques. Stripped of their curtain, grosly naked, for the public to see.
I would encourage everyone to read the free e-books for yourself and judge Rothbard’s works.

Where is the Money? Richest Areas in the USA, Wall Street and Washington

If there is any doubt in Americans minds who the federal government is working for hopefully this will clear things up. The federal government works for the federal government and Wall Street.
The Federal Reserve is there to feed the federal government and Wall Street cheap cash whenever needed, and it is needed a lot these days. With a unlimited supply of counterfeited cash Wall Street and Washington will ALWAYS win any economic battle. Simply stated when you own the bank and can print cash you can outbid the peasants for resources anytime you wish to do so. The game is rigged.
This parasitic system could not exist without the Federal Reserve creating money out of thin air. There are two reasons earlier Americans destroyed the first and second central banks of the United States, corruption and inflation. Today we are receiving the same treatment and like earlier Americans need to destroy the central bank, get back to 100% fractional reserve banking, sound money, gold, silver.
This third central bank will end up exactly like the first two did, corruption and inflation.
The following articles were posted in the Washington Post and Lew Rockwell.
Two Virginia counties take the top spots — Loudoun and Fairfax. And two Maryland counties close out the top 10 — Calvert and Charles.

When you own the bank creating money is a lot of fun. Stupid uneducated people have to work for money, but not bankers and politicians!

By Washington Post editors
Seven of the nation’s 10 richest counties are in the Washington region, according to a report from Newsweek.
The ranking is based on data from the 2009 Census.
Check out the complete list:
1. Loudoun County — Median income $114,204
2. Fairfax County — Median income $102,499
3. Howard County — Median income $101,940
4. Morris County, N.J. — Median income $96,787
5. Arlington County — Median income $96,218
6. Montgomery County — Median income $94,420
7. Nassau County, N.Y. — Median Income $92,776
8. Somerset County, N.J. — Median income $89,871
9. Calvert County — Median income $89,289
10. Charles County — Median income $89,115
By Washington Post editors | November 12, 2010; 11:25 AM ET
The Richest Zip Codes in the United States
by Robert Wenzel
Economic Policy Journal

Robert Wenzel of the Economic Policy Journal

Recently by Robert Wenzel: ‘Anomic Breakdown‘ and Beyond
Of 29,000 zip codes examined by the Internal Revenue Service, only three had an average yearly income of one million dollars or more, based on recently released data from 2008. But the average income per year for all of the top ten richest zip codes exceeds $700,000, according to IRS data, reports HuffPo.
Three of the wealthiest five zip codes are located in New York City. Among its residents, Manhattan has 7,270 people worth $30 million or more.
1. Lower Manhattan 10274
2. 30 Rockefeller Plaza 10112
3. Fisher Island, FL 33109
4. 45 Rockefeller Plaza 10111
5. Oklahoma City, OK 73154
6. Downtown Chicago 60604
7. Atherton, CA 94027
8. Century City Los Angeles 90067
9. New Vernon, NJ 07976
10. Grand Central Station, NY 10168
The top zip code, 10272, begins only blocks from the New York Federal Reserve Bank. (Just coincidence, I’m sure.)
Number 2 and 4 zip codes, different parts of Rockefeller Center, are, of course, home to Rockefeller Family money management and where former Fed chairman Paul Volcker maintains an office. (More coincidence, I’m sure.)
Reprinted with permission from Economic Policy Journal.

Michelle Obama Secret Affair Rumors Surface

It has been in the press for years that Obama has had several homosexual partners, none proven, but very circumstantial. Now comes the report that Michele is getting into he act, at the worst possible time for Obummer. Anything for the cause.
Posted by Jim Hoft on Saturday, December 10, 2011, 9:00 PM
“It’s a good thing her last name is not Cain or this story would be making major headlines by now.
America’s Conservative News reported:

Another White House sex scandal? Has Obama's multiple boyfriends given Michelle the cover she needs to cheat?

The Globe magazine just released a bombshell and is reporting that Michelle Obama is having a “steamy secret affair” with a Secret Service Agent. According to The Globe, rumors started to circulate that Obama may be having an affair after her recent admission to NBC’s Al Roker that she frequently “sneaks out” of the White House; and the ever increasing time she is spending away from the White House may be a cover to hide “a sizzling affair she’s carrying on with a Secret Service agent.”
According to The Globe’s anonymous source: “The rumors are that she’s getting it on with a Secret Service agent who is not part of her detail. … Her frequent outings away from the White House give her and him an opportunity to get together.” The source adds: “Something has been going on for a couple of months and there’s no question Barack is embarrassed about her increasingly frequent excursions away from him at the White House.”
The allegations are, of course, unsubstantiated and only time will tell if the allegations will fizzle or blow up into a major issuing in the upcoming presidential campaign. Typically, the media will not report unsubstantiated claims from anonymous sources, but the recent media feeding frenzy over unsubstantiated allegation against businessman Herman Cain, which literally sank his candidacy, leave the question open: will the media pursue, or even bother to investigate this story?
When it comes to the Mainstream Media, anything goes. That much is clear. But will the media apply the same standard to Obama as to Cain? Only time will tell.
Hat Tip Rachel”