Friday, August 12, 2011

Will the London riots come to the U.S.? Rick Perry’s Record

12 August 2011

Global American Series

Will the London riots come to the U.S.? Rick Perry’s Record

Will the London riots come to the U.S. with austerity? Why are investors taking money from stock and putting it into US Treasuries after the S&P downgrade? Is putting US finances in the hands of 12 people as a “SuperCongress” wise or risky? Will it “fix it” or make it easier for lobbyists to influence 12 versus 535 Congress members? And is Texas Governor Rick Perry's record on deficits and jobs really what he says? We cover these issues on this week’s Global American radio.

A funny thing happened on the way to the first national credit downgrade in our history. Investors pulled money from Wall Street and put it into the “downgraded” U.S. treasuries! Why? We ask that question to Houston Chronicle business columnist Loren Steffy. Are more shoes about to drop as other countries face a downgrade? What impact will that have on us?

We also ask Mr. Steffy: “Will any politician really be honest with the American public about what it will take to put our fiscal house in order?” Will Americans elect a candidate who is brave enough to tell them what they need to hear -- instead of what they want to hear? If not, how do we get out of this mess?

The London riots of the past few days – are they just a random criminal act or a result of the pressures brought about by high unemployment and Britain’s conservative party’s austerity budget that has been making deep cuts? Will the same discontent and open looting come to the United States as Congress adopts a “cuts only” austerity approach to our budget problems? How will cuts create jobs that everyone wants when cuts do only one thing - eliminate jobs?

Finally, in our last segment we look at Texas Governor Perry, who is about to announce a run for the Presidency. What is his record on deficits and jobs after being Governor for over 10 years? Is that record what he says it is? Were Texas deficits covered by Obama stimulus money? What if his record shows “borrow-and-spend” policies like former President Bush? What skeletons could fall out of the closet? We will provide a “heads up” on a couple…

For details tune in Saturday at 9 am Central time on Business 1110AM on Global American radio, streamed on and Podcast 24/7 on – where you can find more information on the Texas economy.

Michael Fjetland

Global American Series

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