Jackboot Obama
Research for Online Investors

by John Dalt

6/11/10

Good news everybody, James Cameron and Kevin Costner have weighed in on the oil spill and may have the answer to stop the ecological damage along the coast.

Costner’s company has sold 32 oil separators to BP, capable of handling six million gallons per day.  Better order a few more.  In testimony before congress, Costner slammed government agencies for displaying “general apathy” towards his product over the years.

James Cameron (Titanic & Avatar) called a group of deep sea scientists and submarine “guys” to a day-long brainstorming session in Washington last week.  Some Federal agencies sent observers who took ideas back to the bowels of their granite and linoleum buildings.  The most valuable suggestion was one signed by the movie director.  Estimates are that it will be worth over $5,000 for the autograph in one hundred years.

While Oh! Bama is trying to figure out “whose ass to kick.”  London’s mayor, Boris Johnson defended BP and said the “anti-British rhetoric” was a matter of “national concern.”  The U.S. government has suggested the administration may try to bar B.P from paying a dividend to preserve cash for the gulf cleanup.  This is particularly hard on the British economy as B.P. stock is widely held in pension funds, and individual retirement assets.  B.P. dividends represent 16% of all dividends paid in the country.  Mark Dampier of Hargreaves Lansdown said, “Obama has his boot on the throat of British pensioners.”

President Obama also has his boot on the throat of Gulf oil platform workers and suppliers.  The administration has declared a six-month moratorium (until after the election) on deep water drilling.  Louisiana politicians are defending the industry, and demanding that Washington drop the ban.  “Mr. President, you were looking for someone's butt to kick. You're kicking ours," Lafourche Parish President Charlotte Randolph said in pleading for the moratorium to end.

The Louisiana legislature unanimously passed a bill demanding the moratorium be shortened.  Thirty-three rigs were drilling in the gulf, they have all halted operations.

Most are expected to move off the coast of Brazil.  Petrobras discovered oil there last year, but has been waiting on rigs to tap the fields.  "They're licking their chops saying, 'We'll take them'" from the U.S., said industry analyst Collin Gerry.

BP officials are invited to the White House next week, almost two months after the accident that has created the worst environmental disaster in the U.S. Crumpets anyone?

The Wall Street Journal had a great article on the real losers in the gulf tragedy, liberals.  In Obama Meets Toto the author suggests that Obama has been exposed as the Wizard.  Pulling all the levers of power, with all in awe at how well he reads his lines.  Until they realize he is just a little man behind the curtain.  "Pay no attention to that man behind the curtain", said the great Oz.  But now the people have seen the truth, government and the great Obama could not even stop a little hole from spewing oil in the ocean.

All the Kings horses, and all the Kings men, couldn't put Humpty Dumpty back together again!  Not to belabor the point, but we have all seen Charlton Hesston part the waters for safe passage, and he was Chairman of the National Rifle Association (NRA).  If people indeed lose faith in the ability of government to solve all of our daily problems, and become suspicious of politician's promises, the gulf oil spill will be a watershed event in the history of the U.S. for more reasons that the environmental tragedy that it is.

Our letter is short today as your editor travels to the funeral of our best friend’s father-in-law.  He flew 18 combat missions in the Pacific as bombardier in a B-29.

To the mailbag:
Peter Schiff is running in CONNECTICUT, not Delaware .---paid up subscriber L.C.

John’s reply:  Wow, and I thought I proof read yesterday's article.

Send these charts to your local Senator/Congress Person with a simple message, "Don't allow this to happen."--- Pastor B.W.

John’s reply:  Amen.

Excellent article, it's not unusual for facts to have the same effect on big spenders that Kryptonite had on Superman.---paid up subscriber D.F.

Your chart on Thursday is alarming.  My personal hope is for a president that will whack entitlements and military adventures.  Check out the Peter G. Peterson Foundation---subscriber J.R.

John’s reply:  Amen.

Art Robinson won the primary in an Oregon Congressional district.  He's a free marketer and an expert on nuclear energy.  His campaign slogan, "send a scientist to congress".---paid up subscriber R.B.

John’s reply: Amen, for free markets, I don’t know about the scientist part.  Something I remember about the cost of rocket science.

What do you think will cause interest rates to rise?----paid up subscriber T.M.

John’s reply: Our Rat Brains! Interest rates were up yesterday on 30 and 10-year bonds. It will happen, and there is nothing Bernanke can do to stop it.

The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions. It may contain errors and you should not make investment decisions based solely on what you believe you have read here. Do your own research, it is your money. If you lose it, it is your responsibility, not ours or your grandmothers! The editor may or may not have a position in any securities discussed. The editor may have held a position in a security earlier, or in the future.

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