Weekday NEWS to Comfort the Disturbed and Disturb the Comfortable.
Thurs 01.28.2010
Obama promises jobs, deficit control in new focus Caren Bohan and Ross Colvin WASHINGTON (Reuters) - President Barack Obama will promise Americans on Wednesday that he will revive jobs growth and curb exploding deficits, as he seeks to recalibrate his agenda after his worst political setback since taking office. Obama's State of the Union address, which begins shortly after 9 p.m. (0200 GMT Thursday), will include a call for a bipartisan panel to address the surging federal debt. The speech follows the loss by his Democratic party of a pivotal Senate seat in Massachusetts. Obama will aim to tap into public discontent, stemming mainly from the still-struggling economy and a stubbornly high 10 percent unemployment rate, while buying time for his administration to regroup.
Text: Obama’s State of the Union Address Following is the prepared text of President Obama's State of the Union address, delivered Jan. 27, 2010, as released by the White House: Madame Speaker, Vice President Biden, Members of Congress, distinguished guests, and fellow Americans: Our Constitution declares that from time to time, the President shall give to Congress information about the state of our union. For two hundred and twenty years, our leaders have fulfilled this duty. They have done so during periods of prosperity and tranquility. And they have done so in the midst of war and depression; at moments of great strife and great struggle.
CNN's Ali Velshi interviews Congressman Ron Paul On the economy, the state of the union and the Federal Reserve
Investing in Gold? Pay close attention to Dollar By Sol Palha - Commodity Online The theme for the past few years has been to diversify into overseas markets. This theme has been taken too far. Money has flowed into these markets at stunning rates (especially China) and if the dollar should surprise everyone by mounting a strong rally, the biggest markets to get hit will be the developing markets. The theme being pumped now in these markets is that this is where the growth is (long term yes, but in the intermediate time frames these markets are more than ready to mount a strong correction). This mantra is especially true of China, where several sectors are simultaneously experiencing bubble like formations.
Dollar Near Six-Month High Against Euro on Fed Rate Outlook By Yoshiaki Nohara and Ron Harui (Bloomberg) The dollar traded near a six-month high against the euro on speculation the Federal Reserve will relax its low-interest rate stance amid signs the U.S. economy is gathering momentum, boosting demand for the nation’s assets. The dollar was near a four-month high against the Swiss franc after Kansas City Fed President Thomas Hoenig said the time has come to change the promise to keep rates low and before a report forecast to show the U.S. economy expanded at the fastest pace in almost four years. The euro was near its weakest in nine months against the yen on concern that budget deficits in the 16-nation region will widen, backing the case for the European Central Bank to keep interest rates low.
Monetary Unwinding and Secondary Recession by Gary North - Lew Rockwell Officials at the Federal Reserve System insist that the FED will unwind its more than doubled monetary base. They do not say when. They do not say how. But they insist that they will do this when the economy recovers. The FED has begun this process. The press has not paid any attention to this, but the evidence is unmistakable. Any time you want to monitor any of this, search Google for "Federal Reserve charts." You can see for yourself.
First, there has been a decline of the adjusted monetary base. This began in early December. This is the major indicator of Federal Reserve policy.
Second, M1 has also fallen in recent weeks.
Third, the M1 multiplier has yet to recover.
A Day Before Vote on Bernanke, Fed Leaves Rates Alone By SEWELL CHAN - NYTimes The Federal Reserve decided not to rock the boat on Wednesday. At its first meeting of the year, which came on the eve of a Senate vote that will determine whether Ben S. Bernanke can continue as Fed chairman, the central bank’s policy-setting committee voted to keep short-term interest rates near zero. But it offered a slightly more optimistic assessment of economic activity than it had in December. In fact, many economists are predicting much stronger growth in the fourth quarter, more than double the 2.2 percent annual rate of expansion in the third quarter.
Fed nods to Hill's economy concerns By Patrice Hill Treasury chief defends moves The Federal Reserve acknowledged concerns on Capitol Hill about consumers who are out of jobs and short on credit, saying Wednesday that it may continue programs to support mortgages, small businesses and consumers loans this year if financial conditions don't improve. The Fed's nod to senators, who say they have demanded that it pay more attention to middle-class problems in closed-door meetings with Chairman Ben S. Bernanke in recent days, came as prospects for Mr. Bernanke's confirmation to a second term continued to improve, with a vote on shutting off debate in the Senate scheduled for Thursday.
Geithner: 'I had no role' in an AIG cover up Treasury Secretary Timothy Geithner told lawmakers Wednesday that he had no involvement in an apparent attempt by government regulators to withhold crucial information about AIG's bailout from the public. "I had no role in making decisions regarding what to disclose," Geithner testified at a hearing held by the House Oversight Committee Wednesday.
Paulson: Geithner Recuse himself NY Fed - WTH is Dan Jester Goldman Sachs TARP FED Treasury Ties
See Who Was Paid Off In The AIG Bailout A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal Reserve and Treasury Department have worked to keep that number secret and to conceal who was on the winning end. An unredacted document obtained by the Huffington Post list the damage in detail. Goldman Sachs alone, for instance, got $14 billion in government money for assets worth $6 billion at the time -- a de facto $8 billion subsidy, courtesy of taxpayers. The list was produced as part of a congressional investigation led by the House Oversight and Government Reform Committee into the federal bailout of AIG.
Geithner AIG Recusal Was 'After the Fact,' Issa Says By Lizzie O'Leary and Andrew Frye - Bloomberg U.S. Representative Darrell Issa said he wasn't satisfied with Timothy F. Geithner's explanation that he was recused from matters involving American International Group Inc. in his last weeks running the Federal Reserve Bank of New York. Geithner, now Treasury secretary, is scheduled to testify today before the House oversight committee on the September 2008 bailout of AIG and efforts by the New York Fed to limit what the insurer made public about the rescue. Geithner was recused from "working on issues involving specific companies," including AIG, after he was nominated on Nov. 24, 2008, for the cabinet post, a spokeswoman for the Treasury Department said this month.
Geithner Says A.I.G. Rescue Prevented a Depression By MARY WILLIAMS WALSH and SEWELL CHAN - NYTimes WASHINGTON - In questioning that at times took on the air of a cross-examination, the Treasury Secretary Timothy F. Geithner on Wednesday defended the government actions in bailing out the American International Group, saying Washington did what was necessary to prevent "a second Great Depression." But Mr. Geithner said he was not involved in withholding information about deals that sent billions of taxpayer dollars from the bailout of A.I.G. , the insurance giant, to big banks. "I withdrew from monetary policy decisions," Mr. Geithner said, "and day-to-day management of the New York Fed."
Geithner Says AIG Rescue Avoided ‘Utter Collapse’ Treasury Secretary Timothy F. Geithner said American International Group Inc.’s bailout helped repair the U.S. economy, and that regulators didn’t have “the luxury of time” to get concessions from banks that benefited from the insurer’s rescue. The Federal Reserve Bank of New York, led by Geithner when AIG was aided in 2008, was motivated to “get the best deal for the American taxpayer,” he said today at a hearing of the House Oversight and Government Reform Committee.
AIG Hearing: It Wasn't My Job, Paulson Says
Why the markets hate Washington By Paul R. La Monica NEW YORK (CNNMoney.com) -The markets might be a heck of a lot calmer if everybody in Washington would just shut up. Of course, that's not going to happen anytime soon. Treasury Secretary Tim Geithner is testifying in front of Congress Wednesday about the government's mishandling of the AIG "rescue." Later on, the Federal Reserve will release its latest statement about the economy and interest rates.
Fed renews vow to keep rates low, with a dissent Emily Kaiser and Pedro da Costa WASHINGTON (Reuters) - The Federal Reserve on Wednesday offered a guardedly upbeat view of the U.S. economy and renewed its pledge to keep interest rates near zero despite the objection of one policy maker. The decision to hold rates steady by the Fed's policy-setting Open Market Committee was 9-1, with Kansas City Federal Reserve Bank President Thomas Hoenig dissenting because he wanted the central bank to eliminate a phrase vowing to keep rates exceptionally low for "an extended period." The FOMC statement reflected a somewhat brighter tone than previously and appeared to put more faith in the sustainability of a nascent economic rebound.
Bernanke bad for limited government and the little guy by JONATHAN WITT - Acton Institute This week's reappointment vote for Fed Chairman Ben Bernanke has created some strange bedfellows in Washington. A muddled middle of Republicans and Democrats supports the Keynesian's reappointment, but the real odd couples are among the opposition. For different if overlapping reasons, free market proponents and far-left figures such as democratic-socialist Bernie Sanders of Vermont are both convinced that Bernanke has done much to hurt our economy, particularly those in the bottom half of our economy.
Bernanke Met With 24 Senators After Renomination as Fed Chief By Craig Torres and Christopher Anstey (Bloomberg) Federal Reserve Chairman Ben S. Bernanke had conversations with 18 of the 23 legislators on the Senate Banking Committee prior to their 16-7 vote this month to recommend that the full Senate confirm him to a second term. The Fed chief had contact with 24 senators between August 4 and Nov. 30, almost all at congressional office buildings, after his Aug. 25 nomination to another four-year term as chairman by President Barack Obama. The meetings and phone calls were listed in a daybook provided by the Fed yesterday in response to Freedom of Information Act requests by Bloomberg News.
“This is unprecedented political contact for a Fed chairman in such a short period,” Thomas said, “especially considering Bernanke’s vow before his first Senate confirmation hearing that ‘I will be strictly independent of all political influences.’”
As Bernanke awaits 2nd term, Fed mulls exit plan By JEANNINE AVERSA, AP Now that the economy is on the mend, the Federal Reserve this year can focus on how and when to pull back the stimulus money pumped out to fight the financial crisis. With his prospects for another term brightening, Ben Bernanke will lead that effort. At their first meeting of the year, Fed policymakers are likely weighing such matters, including which tools to use. The officials resumed discussions Wednesday morning and are slated to issue a policy statement in the afternoon when they wrap up their two-day session. No major changes in rates or economic support programs are expected to be announced. The big question is whether Fed policymakers will signal their timing and strategy to reverse course.
Senate Should Reject a Second Term for Bernanke By Desmond Lachman - Amer Enterprise Institute This week the Senate should not shy away from rejecting President Obama's nomination of Ben Bernanke for a second term as Federal Reserve chairman. To be sure, Wall Street's knee-jerk reaction to such a rejection must be expected to be negative. However, the Senate should base its decision not on how Wall Street might initially react but rather on what is in the U.S. economy's longer-term interest. A careful examination of Bernanke's highly checkered record as Fed chairman over the past four years would reveal that there have to be better candidates than Bernanke to head the Fed at this difficult juncture for the economy.
The Bernanke Deception and the Stirring of American Populism Chris Whalen captures an interesting aspect of change that not only the august US Senators are missing, but most of the mainstream media in the States as well, at least judging by the discussions on their Sunday political shows. All of them seem equally out of touch, arrogantly aloof and insulated from the mood of the nation. It is interesting also to hear the financial princes growling from lofty Davos about 'Obama's outburst' regarding the Volcker Rule and the impertinence of the Americans in daring to set national regulations for their banks.
Stunned Wall Street Firms Don't Want to Wage War on Obama By Robert Schmidt (Bloomberg) When Treasury Secretary Timothy F. Geithner and White House adviser Valerie Jarrett hosted a private dinner with the leaders of six banks to discuss financial regulation on Jan. 20, the bankers soon changed the subject. The president needed to stop demonizing Wall Street, they told Jarrett, according to three people familiar with the meeting. What the executives, including Brian Moynihan, the chief executive officer of Bank of America Corp., and Robert Kelly, the chief executive of Bank of New York Mellon Corp., didn't know was that President Barack Obama, who had proposed a new tax on the biggest banks six days earlier, was about to strike again.
French Were Willing to Negotiate AIG Discounts By Jody Shenn, Bob Ivry and Alan Katz (Bloomberg) A French regulator was willing to discuss allowing lower payments to retire American International Group Inc.'s obligations to the country's banks, according to congressional testimony that undermines part of the rationale the Federal Reserve Bank of New York gave for paying full value. France's regulator was "open to further negotiations" to discuss the possibility of concessions by AIG counterparties Societe Generale SA and Credit Agricole SA's Calyon unit, in November 2008, Neil Barofsky, the special inspector general for the Treasury Department's Troubled Asset Relief Program, said in prepared remarks for a House oversight committee hearing today.
UK economy lies 'on bed of nitroglycerine' Jill Treanor and Patrick Wintour - guardian.co.uk Bill Gross deals blow to government with warning to his investors that Britain's debt makes it a 'must to avoid' The government's hopes of claiming credit for reviving the British economy suffered a severe blow today when the world's biggest buyers of bonds warned that the UK was a "must to avoid" for his investors as its debt was "resting on a bed of nitroglycerine". The intervention by Bill Gross, co-founder of California-based fund managers Pimco, came on the day official figures confirmed that Britain had emerged from the deepest recession since the 1930s – but only by the narrowest of margins.
Why No Presidental Wrath Aimed at Greedy Lawyers? By John Lillpop Capitol Hill Coffee House Everyone knows that President Obama has made health care reform his signature issue. He walks, talks, eats, and sleeps health care reform, all the while preaching that the entire American economy faces ruin unless soaring medical costs are contained. He has even stated that the issue is of such personal significance that he would be willing to leave the presidency after one-term, if needed to enact meaningful reform. Given Barack Obama's alleged passion, just why is it that the president has steadfastly refused to take on greedy trial attorneys, those ambulance-chasing barristers who are largely responsible for out-of-control jumps in health care costs?
Why the Government Wants to Hijack Your 401(k) BY KEITH FITZ-GERALD, Chief Investment Strategist, Money Morning - It's bad enough that we've been forced to bail out Wall Street. But now the Obama administration is hatching plans to raid our retirement savings, too. To say that I'm "outraged" doesn't come close to describing the emotions I experience every time I think about the government's latest hare-brained scheme. According to widespread media reports, both the U.S. Treasury Department and the Department of Labor plan are planning to stage a public-comment period before implementing regulations that would require U.S. savers to invest portions of their 401(k) savings plans and Individual Retirement Accounts (IRAs) into annuities or other "steady" payment streams backed by U.S. government bonds.
Marc Faber: The Real Value of GOLD vs Paper in Troubled Times - 1/2
U.S. May Retool Loan Program for Underwater Borrowers The Obama administration's $300 billion Hope for Homeowners program may be retooled to help the growing number of Americans who owe more than their properties are worth as current anti-foreclosure efforts fail to account for these "underwater" borrowers. The changes would be at least the third lease on life for the program, which began in October 2008 during the Bush administration and has so far helped just 96 of the 400,000 homeowners originally targeted.
Double Standard: Of Morals and Mortgages You've probably heard that a high-profile realty group that had agreed to pay $5.4 billion for a New York City housing complex just announced it was not going to make good on its loans. You might describe the (former) owners as misguided, stupid, or unfortunate. You probably wouldn't think of calling them immoral. So why is the average homeowner's decision to walk away or keep up with the payments on an underwater mortgage considered a moral issue?
Dean Baker: We're Still In a Housing Bubble By Nick Timiraos - WSJ Home prices have posted six months of gains, according to the Case-Shiller home price index, released this morning. But some housing bears say that the fundamentals don't support those price gains and that, even once the market finds a bottom, home prices aren't likely to show significant appreciation for many years to come. Housing economist Dean Baker, the co-director of the Center for Economic and Policy Research, laid out his case at a risk conference last week for why we still have a housing bubble. Adjusted for inflation, home prices are still 15-20% higher than they were in the mid-1990s. "There's no plausible fundamental explanation for that," he says.
Housing recovery could take a decade, economists warn By Renae Merle - Washington Post Even as the housing market shows signs of improvement, including in new data released Tuesday, economists warn that it could take up to a decade for many homeowners to regain equity in their homes, while some people in the hardest-hit regions of the country may not see a recovery during their lifetime. Home prices have fallen 30 percent since reaching their peak in 2006, and many economists think they will take another tumble this year as more foreclosures pile on the market. The pace of recovery will vary throughout the country, with homes in the most battered markets taking the longest to regain value.
Fed May Take Risk MBS Program End Won't Hurt Housing By Steve Matthews and Vivien Lou Chen - Bloomberg The Federal Reserve may take a chance the housing market can stage a comeback without its support by announcing today it will stick to the plan to end a $1.25 trillion program of mortgage-debt purchases in March. Fed Chairman Ben S. Bernanke and other policy makers meet as a government report showed sales of new homes unexpectedly dropped in December. With financial markets rebounding, the central bank has said it plans to end emergency aid to bond dealers and money markets by Feb. 1.
Buffett's Berkshire to be added to S&P indexes Company will replace Burlington railroad after acquisition deal is done OMAHA, Neb. - Warren Buffett's Berkshire Hathaway Inc. will soon join the S&P 500 and S&P 100 stock indexes after it acquires Burlington Northern Santa Fe Corp., Standard & Poor's said Tuesday. Buffett's company will replace BNSF in both indexes after shareholders approve Berkshire's acquisition of the railroad company next month.
Main Street frustration: 'Everything is going to banks' By Catherine Clifford NEW YORK (CNNMoney.com) -- In his State of the Union speech Wednesday night, President Obama is widely expected to tout a slew of federal initiatives aimed at stimulating small business hiring and growth. Again. Small companies employ around half of America's workers and drive most of the country's job growth. Obama talks frequently in his speeches about the vital role small companies play, and his administration has launched several efforts to bolster struggling Main Street businesses. But most of the president's small business proposals remain in limbo, caught in bureaucratic logjams and the Great Black Hole of Congress.
Marc Faber: The Real Value of GOLD vs Paper in Troubled Times - 2/2
Americans hate their jobs more than ever Satisfaction level hits new low, especially among younger workers Americans hate their jobs more than ever before in the past 20 years, with fewer than half saying they are satisfied. The trend is strongest among workers under the age of 25, less than 39 percent of whom are satisfied with their jobs. Workers age 45 to 54 have the second lowest level of satisfaction (less than 45 percent), according a survey conducted by The Conference Board, a market information company that also puts out the Consumer Confidence Index and the Leading Economic Indicators.
Record foreclosure filings threaten housing recovery posted by Mathew Padilla - OCRegister The total of outstanding foreclosure auction notices on Orange County homes hit 10,513 at the end of December, the highest in this housing downturn, reports http://ForeclosureRadar.com . The total has more than doubled in the nine months since March, when it was 4,573. ForeclosureRadar tracks outstanding notices of trustee's sale, which announce a house or condo will be sold at auction. Such notices are usually good for only one year. Sean O'Toole, head of ForeclosureRadar, said although foreclosure filings overall decreased at the end of 2009, the backlog of delinquent loans keeps growing.
U.S. Cattle Herd Falls to 1958 Low as Losses Climb By Whitney McFerron Jan. 27 (Bloomberg) -- The U.S. cattle herd may have shrunk to the smallest size since 1958, as mounting losses during the recession spurred beef and dairy producers to cull animals, analysts said. Wholesale choice-beef prices averaged $1.4071 a pound last year, the lowest level since at least 2004, as U.S. job losses climbed and meat demand waned. Corn, the main ingredient in livestock feed, jumped to a record $7.9925 a bushel in 2008 on the Chicago Board of Trade, and prices averaged about $3.79 last year, the third-highest annual average since at least 1959.
GM offers $1,000 incentive to Toyota owners by Peter Valdes-Dapena NEW YORK (CNNMoney.com) General Motors is offering incentives of $1,000 and low financing rates specifically for Toyota customers worried about their recalled vehicles, beginning Wednesday. "We decided to make this offer after receiving many e-mails and calls from our dealers, who have been approached by Toyota customers asking for help," GM said in a statement. The offers will run through the end of February.
Ex-attorney pleads guilty in $1.2B Ponzi scam Scott Rothstein, 47, pleads guilty to all five counts against him FORT LAUDERDALE, Fla. - A disbarred attorney who courted politicians and star athletes and led a flamboyant lifestyle even by South Florida standards pleaded guilty Wednesday to federal charges that he ran a $1.2 billion Ponzi scheme. Scott Rothstein, 47, pleaded guilty to all five counts against him, including wire fraud, money-laundering conspiracy and a racketeering charge commonly used to take down Mafia chieftains. The charges carry a maximum potential sentence of 100 years in federal prison. Sentencing is set for May 6.
Oregon says yes to taxing wealthy, businesses By TIM FOUGHT - AP PORTLAND, Ore. - Oregon has set aside its history of shooting down tax increases on statewide ballots, with voters endorsing higher taxes amid a brutal economic slump. Democrats in the Oregon Legislature made it as easy as they could for the voters to raise taxes on somebody else, and the electorate responded Tuesday by approving Measures 66 and 67. The increases approved Tuesday will hit people with taxable income upward of $125,000 - estimated at fewer than 3 percent of filers. Many businesses who had been paying an annual $10 minimum will see that rise to at least $150.
The Democrats' Communication Problem By KATE PICKERT - Time Health Reform: Did the Dems Misread the Public Mood? Democrats are still smarting from Scott Brown's upset victory in Massachusetts last week. Health reform seemed inevitable and then, suddenly, it wasn't. As Karen pointed out, Democratic lawmakers are still searching for a path forward that might include reconciliation. They may succeed, but certainly not because the American people got on board with their plans. No, if Democrats manage to squeak by comprehensive health care reform legislation, they will do it in the face of polls showing that the majority of the American people oppose their efforts. Most Republicans would no doubt argue that the public is rejecting the Democratic plan for reforming the U.S. health care system, but a report released yesterday shows the Democrats came up short in a far more fundamental sense. They failed to convince the public that the system is flawed enough that it needs fixing.
Home-schoolers win asylum in U.S. By Ben Conery Germans fled 'persecution' A U.S. immigration judge's decision to grant political asylum to a German family with "a well-founded fear of persecution" for home-schooling their children should send a powerful message to the German government to change its stance on home schooling, the family's attorney said Wednesday. "Home-schoolers are not a threat to German society," said Michael Donnelly, one of the Home School Legal Defense Association's team of lawyers representing Uwe Romeike; his wife, Hannelore; and their five children.
Embrace Tea Party to Win Back N.Y. By John LeBoutillier - C H Coffehouse Last week’s stunner in Massachusetts holds a lesson for the New York GOP. Sen.-elect Scott Brown, though running on the Republican ticket, never mentioned his party in his campaign speech. Instead, he campaigned as an independent and a proud member of the tea party movement. He knew that the palpable anger of voters is directed against both major political parties.
It is not only Christians who are oppressed by the control freakery of the House of Commons By Gerald Warner - UK Telegraph - Last night's defeat by the House of Lords of the aggressively anti-Christian provisions in Harriet Harman's Equality Bill should not be allowed to gloss over the malevolent intent of the House of Commons in promoting this legislation. The impertinently intrusive provisions of the Bill demonstrated that the state has acquired pretensions far beyond its legitimate scope and urgently requires to be cut down to size.
Environmentalism Not About the Earth But About Control, Part 1 By Frederick Meekins - Capitol Hill Coffee House - For decades, American motorists have been subjected to propaganda insisting that they either need to drive less or give up safe, comfortable automobiles in favor of what amount to motorized coffins in order to preserve natural resources and environmental quality. Now that this policy goal is pretty much on the road to being implemented, the elites running our lives are not content to sit back in the glow of their accomplishment but are rather laying the groundwork for the next phase in their grand dream of limiting the free movement of the American people.
Blankfein Avoids Apology as London Risks Suicide: Mark Gilbert When almost every media mention of your institution is accompanied by the nickname “vampire squid,” you might think it prudent to learn a little humility. Not, it seems, if your name is Lloyd Blankfein. The Goldman Sachs Group Inc. chief executive officer missed another opportunity to express contrition when he appeared before the U.S. Financial Crisis Inquiry Commission earlier this month. While his answers weren’t quite belligerent, he offered little in the way of an apology.
As China Rises, Conflict With West Rises Too By KATRIN BENNHOLD DAVOS, Switzerland —As recently as 2008, when China was still an emerging economy eager to put its best foot forward for Western consumers, it lifted censorship, at least temporarily, on several Web sites before the Beijing Olympics. At the same time, it responded to pleas from U.S. and European politicians to cooperate on several other fronts.
In Davos, Signs of Shift in Global Power By KATRIN BENNHOLD and ALISON SMALE - NY Times AVOS, Switzerland — For years, the power brokers who gathered in the Swiss Alps to mull over the state of the world worried collectively about an outdated system of global governance. From the United Nations Security Council and the International Monetary Fund to the Group of 8, the arguments went, international institutions were unfit to solve global problems because they no longer represented the balance of power in the world.AL
China Reigns in Davos The 40th World Economic Forum started working in Davos on January 27. Russia’s Vladimir Putin opened the forum last year, but neither Russian, nor US leaders are going to attend the event this year. This year the forum pays special attention to developing countries – over 30 impressive delegations arrived in Davos to take part in the forum.
History repeats itself and it could happen again:
Part 1| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
Part 2| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
Part 3| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
Part 4| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
Part 5| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
Part 6| Glenn Beck Documentary: "The Revolutionary Holocaust: Live Free...Or Die" - 01/22/10
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