Obama’s “Millionaires & Billionaires” and Socialism
What do you know about Socialism?
Is Obama just like Robin Hood?
No! No! Cut the music!! Delete that romantic and naïve notion you have that Obama will take from the rich and give to poor little you. That is not how Socialism works.
In 2008, would the majority of us have elected a Socialist/Communist? Of course not. Watch the JournoList (essentially, all the liberal media) distract us by attacking the messenger and concealing the truth: When Joe the Plumber asked if Obama was a Socialist who planned to redistribute income; Joe was ferociously attacked. We were told, “Joe is poor, he didn’t pay his taxes, he is merely a plumber, he is uneducated, and not an Ivy Leaguer, you see; so you should ignore him.” By now, you should realize that the more viciously that the JournoList attacks, the bigger the secrets they are hiding for Obama.
Obama’s Harridan-in-Chief, Elizabeth Warren, shrieks that no one in America owns anything, no matter how hard he has worked, because he uses roads and infrastructure built by “The People.” Everything belongs to “The People” – meaning Warren, and by extension, Obama. And we’d better vote them in so they can do “more for us” – (actually, do more for themselves!) … How are Warren and Obama different from Communists?
Obama constantly tell us he “loves the poor” and hates the “Millionaires and Billionaires” who don’t “pay their fair share” in taxes.
But Obama is curiously silent about his Billionaire buddies in the Middle East who rule like dictators and never pay their “fair share,” or any share at all, to the poor people in their countries!!
And Obama is also silent about his multi-millionaire buddies in America who are not only not paying their “fair share” but are also collecting “Millions and Billions” from the taxpayer!!
(a) The Fraud & Corruption in the Green Energy Program: 80% of the $20.5 Billion in the Department of Energy (DOE) Stimulus loans for “green energy” went to Obama’s top donors. This is how it worked: First, Obama flew about the country on Air Force One (at our expense) chanting “Green Energy!” “Green Energy!” and persuading the people that green energy could supplant oil and gas. Then, he instructed his DEO to give funds to his supporters. To ensure this was done, friends of the supporters were installed at the DOE (and paid for by us). Essentially, the DEO program operated as a slush fund, giving massive amounts of our money to companies owned by Obama’s supporters who had made large contributions to Obama’s various campaign committees. Once our money was received and their stock prices went up, the owners would sell their shares, take their profits and vanish. Those who remained would pay themselves massive “retention bonuses” as their companies filed for bankruptcy. The companies would go belly up, and we would be obliged to pay the creditors. Scientists and economists, who could assess the viability of the projects and make sure that taxpayer’s funds were not wasted, did not make the DOE’s decisions. Instead, political operatives, such as Steve Spinner, who was on the Obama Campaign’s National Finance Committee and a top bundler himself, and others connected with the grant recipients, “advised” the DOE. Various Democrat Senators and Congressmen also brought pressure on DOE to make grants to favored recipients. Many of these recipients were already unable to pay their bills and had Junk Bond credit ratings; meaning they could not have obtained funds in the open market. Nevertheless, the DOE gave our taxpayer money to them in the form of “Loans” or “Loan Guarantees.” What a Federal Loan Guarantee does is assure the creditors that the money they loan would always be paid back; if not by the borrower, then by us, the taxpayers. Therefore, even though they knew the companies were likely to fail, financial institutions were willing to lend. This, in turn, caused the value of the company to rise tremendously. Once the company share price rose, the principals would sell off their shares and make tremendous profits. Subsequently, the company itself would falter and frequently go into bankruptcy. And we, the taxpayers, would be left on the hook to pay off the ‘Loan Guarantees.”
(b) Massive Green Energy Loans to His Cronies: Peter Schweizer’s great book “Throw Them All Out” lists the recipients. Among them:
- $529 Million to Al Gore for Fisker Automotive’s A123 systems;
- $1.400 Million to Robert F. Kennedy, Jr, with Larry Paige, Sergei Brinn and two other Google Execs for Bright Source;
- $275 Million to Larry Paige, Sergei Brinn and two other Google Execs for Solar City;
- $465 Million to Larry Paige, Sergei Brinn and 3 others for Tesla Motors;
- ($2.14 Billion in total for Google owners);
- $4.700 Million to Ted Turner and Paul Tudor Jones, for First Solar;
- $115 Million to Larry Summers and others for First Wind;
- $1.500 Million to Eric Redman & Laura Miller for Summit Texas Clean Energy, LLC;
- $2,199 Million to Seth Waugh for Solar Trust of America;
- $737 Million to Michael Froman for Solar Reserve;
- $291 Million to Vinod Koshla for 3 different projects;
- $2,500 Million to BP & Rio Tinto for Hydrogen Energy;13 and
- $10 Million award to Phillips for making an “affordable” LED light bulb, which costs $50.00.
(c) Funding Wasteful Projects that are now Bankrupt: Sharyl Atkinson of CBS News has reported that 12 companies that received a total of $5.8 Billion from the DOE are now in financial trouble and that 5 of these have already filed bankruptcy:
- $645 Million for George Kaiser and Solyndra: $645 million went to Solyndra, headed by George Kaiser, an Obama bundler, even though the company was failing at the time. The company is bankrupt; and in strict violation of federal law, Obama allowed Kaiser and other shareholders to recoup their investments before the taxpayer.1100 workers are laid off, and the money is gone! Poof!!
- $118 million of Obama’s Stimulus funds for Ener 1, a car battery maker, with 1,400 employees, laid off its workers and filed for bankruptcy on Jan 27, 2010. Poof!!
- $43 million for Beacon Power, which had a CCC- Junk Bond rating when the loan was given, also laid off workers and filed for bankruptcy. Poof!!
- $400 million for Abound Solar owned by Pat Stryker, one of Colorado’s wealthiest people and Obama bundler, whose Bohemian Companies has given nearly $500 million to Democrats and Obama between 2008 and 2012. Abound Solar was a solar module maker which Obama promised would create over 2000 construction jobs and over 1,500 permanent jobs. But it actually created only 425 jobs, laid off 300 or 70% of those, and declared bankruptcy in Feb 2012. Meantime, Stryker’s Bohemian Companies gave over $500 million to Democrat organizations and Obama and the $400 million we gave to Abound is gone! Poof!!
- $433 Million for Ron Perelman and Siga Technologies: $433 Million went to Siga Technologies, controlled by Ron Perelman, one of the world’s richest men and another Obama donor. Siga received a no-source, no-bid, no-questions-asked contract for a smallpox pill, which had never been tested, which would be effective for only 2 years, and which cost $255 a dose; to be used in case the existing smallpox vaccination, costing $3 a dose; was not effective against smallpox; which was eradicated in 1978! And $433 Million is wasted! Poof!!
- $1.2 Billion from the DOE for Sun Power, approved hours before the program expired on Sep 30, 2011. This loan was strongly pushed by Rep George Miller III (D-Calif) and lobbied for by his son, George Miller IV.The same day, Sun Power received a $100 million contract from the Navy to provide electrical power to the Naval Air Weapons Station China Lake, California, beating out 12 other proposals. And also received American Recovery and Reinvestment Act or “stimulus” funds for it to install solar panels on 90 public schools in Rep. George Miller III’s congressional district. But when it received the loan, it owed more than it was worth and it had announced it was building its factory in Mexicali Mexico. It would only produce 15 jobs in the US, essentially costing us $80 Million per job. The Loan was announced in April 12. A month later, on May 24th, Sun Power’s CEO purchased 428343 shares at $3.30 per share, $18 less than its trading price. France’s Total purchased 60% of Sun Power at a value 60% over market price. Then, the CEO sold 428,084 shares at $23.24, receiving approx. $11 million and making a profit of $20 per share or approx. $9.5 Million. As of October 2011, Sun Power faces a number of lawsuits for fraud and deceit from various investors, including Retirement Funds; its debt of $820 million is greater than its market capitalization of $800 million; and the Stock is now down 94% of its previous value. Poof!
- $98.5 Million for Nevada Geothermal Power, which was strongly promoted by Senator Harry Reid, (D-Nevada) even though it couldn’t even pay its bills. According to its auditors, it now faces multiple defaults. Poof!
- $50 M from State of Massachusetts plus land plus infrastructure and $3 Million from DOE for Evergreen Solar. Bankrupt. Poof!
- $500,000 grant from DOE for SpectraWatt, which paid $745,000 to 4 top executives; borrowed millions it has not repaid; and declared bankruptcy. Poof!
- $10 Million prize to Phillips for creating an “affordable” LED bulb that actually costs $50.00!
- $700,000 to Prof K. Hammond of Northwestern U. to create Joke-Telling Computer software.More than enough to pay off many people’s mortgages! Poof!!
- $873,000 to Teach African Men to Wash their Penises: This grant went to UCLA “researchers” to reduce HIV by teaching African men how to wash their penises after sex. And Plouffe!! Help Obama explain this one!!!
(d) Obama’s Green Slime Racket:Algae is the green slime that causes stagnant water to stink to high heaven. An Algae is a simple plant life that needs carbon, hydrogen, oxygen and nitrogen to grow. Coal is the remains of long dead plant life, so it is full of the ingredients needed to grow algae and it is burned to create the products Algae need to grow. But Obama hates coal.25 As he said in Jan. 2008, if somebody wants to build a coal plant, they could; but it will bankrupt them, because he is going to be charge them a huge sum for all the greenhouse gas that would be emitted. Kathleen Sebelius used to hate coal too.25A Sunflower Electric and Tri-State Generation and Transmission Association wanted to spend $3.8 billion to expand Sun Power’s Holcomb Power plant to create algae based biofuel. The companies had gone through extensive hearings and litigation25B to reach this point. Several community leaders spoke about how the proposed new facility would help their area. The two proponents told the hearing how the carbon-enriched biomass could be dried and processed into solids and oils; fed back into the power plant as renewable fuel; and processed into biodiesel. The carbohydrates could be fermented into ethanol and the protein used as feed and fertilizers for crops. Most of the water could be recycled and used in the coal plant cooling system or returned to the reactor for additional algae growth. But the Sierra Club, various other Clean Energy organizations and various religious groups such as the Sustainable Sanctuary Coalition, Presbyterians for Earth Care etc. all opposed this project. In 2009, as governor of Kansas, Sibelius vetoed the construction25C because it would have to burn coal to produce nutrients for the algae and she wanted to reduce “greenhouse gas emissions.”
One can only conclude that the proponents of the Holcomb expansion must have been Republicans and/or that they failed to hire TJ Glauthier as their advisor. Because soon thereafter, Obama decided to “invest” $510 Million in biofuels; 25D essentially giving our money to his contributors and cronies. He also has made various other government departments purchase this biofuel at exorbitant prices. Senator McCain said that the Navy has spent more than $400 per gallon on roughly 20,000 gallons of algae-based fuel for testing. A 2010 University of Virginia study found that though algae-based biofuels offer a higher level of energy output; their production results in significantly more environmental degradation. Obama has caused numerous coal plants to close and prevented drilling for oil, both of which are already economically viable. But Obama has insisted on giving our money to his friends25E and now touts Algae as the “fuel of the future,” even though it will take 10 years or more to become economically viable without government subsidies:
- $25 Million in Stimulus Funds to Paul Woods, for Algenol;
- $105 Million to Jason Pyle of Sapphire Energy. Pyle has donated exclusively to Democratic campaigns, candidates and committees;
- $21 Million to Solarzyme. TJ Glauthier was a strategic advisor to Solarzyme and also a member of the Obama’s transition team, who also happened to work on the energy section portion of the 2009 stimulus bill. Solarzyme and Glauthier have donated at least $360,000 to Democrats since 2007. Obama issued an executive order that the U.S. Navy spend $12 Million to purchase 450,000 gallons of biofuel, priced at $15.00 per gallon, an estimated 4 to 7 times the normal cost of regular jet fuel.
- $10 Million to EnerNOC which, with Glauthier on its Board, got a DOE contract despite being underbid by competitors; and
- $6.7 to SunRun, also with Glauthier on its Board.
(e) Benefitting His Cronies and Destroying American Jobs by Canceling Projects:
- The Keystone Pipeline & Warren Buffet: The Keystone pipeline was under environmental review for years and would have carried oil from our neighbor Canada to Houston and created at least 40 thousand jobs. Recently, Obama banned the Keystone Project. Without this oil, we become even more dependent on Obama’s buddies in OPEC. Also without this pipeline we are forced to use Burlington Northern Santa Fe Railroad to transport the oil. Obama’s sanctimonious buddy Warren Buffet spent $26 Billion to purchase 77% of BNSF shares in 2009, paying a premium of 31% over its closing price. What did Buffet know and when did he know it?
- Deep Sea Drilling & Soros: Obama issued a 6-month moratorium on drilling in the Gulf. The American Petroleum Institute estimates that we have U.S. resources to generate nearly 160,000 new, well-paying jobs and $1.7 trillion in revenues to federal, state, and local governments, with $1.3 trillion from offshore drilling alone. Within 48 hours after the Moratorium, Petrobras, the Brazilian deep-water drilling company, contacted Laberde Marine which owned 33 semi-submersible rigs and/or drill ships. The owners begged their Louisiana Senators and Governor Jindal to get the moratorium lifted so they would continue to work here. Jindal did all he could to save jobs in his area. Each drilling rig supported over 1,400 jobs. The Gulf provided 30% of our national domestic oil production. But, as you recall, Obama refused. The drilling rigs went to Petrobras, in which George Soros owned over 3 million shares worth $881 million. Obama actually promised to buy more gas from Brazil. The price of gas has nearly doubled in the last three years. And Petrobras and George Soros, the chief sponsor of Obama, have benefitted. 26 Soros claims he sold his shares before Obama helped Petrobras. But Soros owns so many inter-related corporations, he could have transferred title without necessarily losing any profit.
A mere 3 years later, it is obvious that Joe the Plumber was right and that Obama is a Socialist/Communist! (Someone explain to me the difference. I think a Socialist is a Communist-in-Waiting, waiting until he has amassed enough power to become a dictator and crush the people.) All this money is more than enough to create jobs for all of us in America and pay off all our delinquent mortgages!! Yet, Obama keeps asking for more money to “help the poor” but actually, to give to his cronies. This is why big government is so dangerous. The more money Socialists take from corporations or us private individuals; the more they give to themselves and the more corrupt they become.
And we need to revise our definition of Socialism. Contrary to the romantic Robin Hood-like notion that everyone has; Socialism does not mean Obama is taking from the rich and giving to the poor.
What Socialism really means is Obama is taking from the rich and the middle class and giving to himself and his cronies. Meantime, our jobless remain unemployed. And the poor remain poor!
March 15, 2012