Archive Page 2

The Recession needs to happen

This post will not be overly long, nor be very insightful in talking about the recession and the current economic problems we are in.  The point of this blog post is to get the word out about somebody that I am rapidly becoming a huge fan of.  That person, Peter Schiff, President of Euro Pacific Capital.

Peter was one of the few people who decided it was better to think with common sense and tell the truth a few years ago.  In this post there are going to be several links to videos discussing his predictions in 2006 and discussions with other experts who just about laughed him off the screen.  Along with a link to an article where he discusses why, no matter how painful, the recession needs to happen.

 

 

 

Finally for your reading pleasure a Wall Street Journal article written by Peter Schiff –

http://online.wsj.com/article/SB123033898448336541.html

Michael Crichton R.I.P.

Michael Crichton passed away yesterday.
He was a remarkable author and producer. His body of work is extraordinary.
R.I.P.

Hope != Change, A Final Look At Obama and McCain

Hope Does Not Equal Change

In this series we have taken a second look at Barack Obama and I beleive have found that a sympathetic press has truely protected him and his ideas from scrutiny. It’s been an organized effort that now culminates in an attempt to dissuade Republicans from even voting. But in Part IV – A New Hope we found that when his ideas, and that of if Democratic supporters, are exposed, the truth (with the help of a lightsaber) burns through his rehtoric and his true intentions are revealed.

Now I want to address the heart of his campaign . . . . the hope for change.

Barack Obama has created a tidal wave of expectations that now cresendo to a level no lower than changing the world. He stokes the buring desires of people who are truely hurting with the promise that he can fix what ails them. He can fix the Economy, he can fix Health Care, he can fix the Environment, and he can even bring peace to a world at war. He has successfully gotten millions of people to support him by addressing NOT the problems themselves but by simply appealling to Americans natural capcity to beleive that the future could be better. To hope that someone new may bring something different. He has so convincingly made Hope his unofficial trademark that anyone attempting to challenge him is labeled mean-spirited or unbalanced (come on who can be against Hope???).

We all hope that things will be better, that the poor will become successful, that the sick will be healed, that our children can go to college, that our Economy will stablize, that those who want to work will find it, and that we as a people can put our differences aside. But Hope is not enough!

Hope is not enough because Hope and Change ARE NOT THE SAME! In fact, they are opposites. Hope means to internally desire something . . . Change on the other hand is an action that requires us to do something.

Hope Will NOT Help The Poor!

Hope Will NOT Heal The Sick!

Hope Will NOT Educate Our Children!

Hope Will Not “Fix Our Economy!

Hopw Will NOT Clean Our Environment!

These problems require action. If these problems are to change they require that we DO something, that we Change something. In his professional career Barack Obama has not DONE a single thing to fix any of these problems. If you beleive that his experience meets the level necessary to be the President of the United States, than why has he NOT already made headway is trying to fix even one of these problems? There is no legislation he has introduced to address any of these issues, instead he has appealled to our Hope. Notice I said our Hope. This is not something that Obama has given to us . . . its something we’ve always had. Some had just forgotten how to express it.

John McCain, unlike Barack Obama, has an extensive history of actively seeking change to address our problems. Of reaching across the aisle to Democrats and Republicans (hell we thought of him as a Democrat half the time) to create solutions to problems. He has worked to bring about Change . . . not Hoped that Change would occur. That experience and that Demonstration of a willingness to break with the pack is the reason John McCain is the better candidate for President. And that is the reason he will get my vote tomorrow.

Reprinted from Kofacts.com

“I remember that!”

Once upon a time MTV actually played music. No really.

They have a new site that proves it. You should check it out for some “I remember that!” moments. Here are some I found. Enjoy.

Real Solution to the Economic Crisis!

The concept is simple: Manage the federal budget much the same way we manage our own personal finances and everything will be fine. In fact, I believe, if sound financial principals are used, the federal government and, consequently, our economy will prosper beyond anything we have seen before in the United States.

Most of us have a set level of income. We make all types of decisions based on that income….what can we buy? How much can we save? What will have left over? What should we do in the future? Sometimes we come up a little short at the end of the month and sometimes we come out ahead. The bottom line is that the amount of money we make and have on hand directs how we conduct our financial affairs in the future. So why can’t the government show similar restraint? The simple answer: THEY CAN!!

In fact, we, the American people, should DEMAND that our government stop assuming that the money we pay them is rightfully theirs. We should insist that they treasure the money that our hard labor produced, show some restraint and make wise decisions. Any of us could be unemployed at any time, so we work hard to make sure we have a job and an income. We try to show the source of our income (our employer) that we are worth of the money they give us. That the money they give us produces an equal return of services on their behalf. That’s how our government should view the money we give them.

With that rather lengthy introduction in mind, I want to now share with you my solution for our current economic crisis…..which will, hopefully, prevent any future problems. First, I will briefly list the main points, then I will discuss them further:

1. Implement the Fair Tax
2. Create responsible borrowing guidelines for our government
3. Establish a transparent record of all government transactions

Disclaimer – My plan does not necessarily address reforming government spending. That is a whole different blog debate. However, if implemented, my solution will certainly bring the governments spending under greater scrutiny and, therefore, excercise a certain amount of control and influence over future expenditures.

1. Implement the Fair Tax – This step accomplishes 2 things: Provides the federal government with the same level of income they get now from all forms of taxes and puts money back in the hands of you, the taxpayer. Briefly, the Fair Tax replaces income, capital gains, corporate, death, FICA and Medicare taxes with a national consumption tax on all new goods. This is revenue-neutral for the government but will allow every American to take home his entire paycheck.

With the governments income back in the control of the people, we have instantly made the government accountable. Plus, the economy would see a tremendous boost from the additional spending by the citizens. Companies will come back to our shores, jobs will be created and the entire economy will be back on the road to unprecedented prosperity.

2. Create responsible borrowing guidelines for our government – This step will set forth restrictions and dollar limits on how much our government can borrow and for what purposes. We are all limited by our credit score and ability to repay and our government should be likewise limited.

First, the American people have a SURPLUS of almost $52 TRILLION in assets. I propose that we make our government borrow from it’s citizens and pay us all those dollars in interest payments ($239 billion in 2008) instead of paying it to foreign countries. The government should have to propose a CLEAN bill (no earmarks) to the Congress for an up-or-down vote. If the program passes Congress and is within credit limit guidelines, our government then is authorized to ask the American people for the money through loan guarantees at VERY competitive interest rates.

In case you were wondering, our national debt is just over $10 trillion…..I think we can cover that with our $52 trillion, don’t you? And I would certainly be willing to loan my government some money for a 5-7% return (today) and a promise to pay it back within a specified time period. How about you? But if they can’t get enough from the American people, we can allow them to seek other funding sources…again, within pre-set guidelines and limits. For example, no more than 10% from foreign sources. Afterall, we have access to credit for unexpected or extraordinary expenses, so I don’t see why the government shouldn’t have the same benefit…as long as we approve the spending.

Currently, the public holds a little over half ($5.8 trillion) of our national debt, but the rates are crap. Up the rates to a competitive level and they would probably get more takers.

I know that was long, but thanks for sticking with me! 🙂

3. Establish a transparent record of all government transactions – Finally, we, the American people, need to know what’s going on AT ALL TIMES. There should be a website specifically set up to chronicle, archive, track and debate any and all extra speding the government wants to initiate.

This website should post the full bill (which will be very short because we will require it to be CLEAN) and the full voting results. This website should also handle the loan request, which will have a descriptive name so citizens can pick and choose which programs they want their money to support. For example, let’s say the government proposes and Congress passes a bill to fund a new Consumer Protection bill. You got to the site, browse the list of government loan requests and select “Consumer Protection Department Funding Bill 2008”. You read the description, decide you like that idea because you got screwed on a bad washing machine and you loan your government $1000 dollars to help get it started.

How will the government pay you back? How about the extra tax revenues generated by the new national consumption tax and a country full of citizens with their full paychecks in their pockets? Or new tax revenues from the black-market sales that will now be taxed? Or the new tax revenues from tourists that come over here and purchase goods and services?

In conclusion, it’s a simple concept whose time has come: Let the people keep their money to bolster the economy and make our government accountable to those same people for their spending. Once again, a government for the people and by the people.

Please visit – http://www.fairtax.org

Current bailout and financial crisis are the least of our problems

So I am sitting down the other day watching a notoriously left wing TV show in the Bill Maher show on HBO, when he interviews David Walker.   For those who don’t know who this particular gentleman is, he is the former Comptroller for the GAO (essentially the top accountant for the US Government).  Now, for those who did know him you will also likely know he is no longer in that position since early 2008.  Mr. Walker resigned his post, which you have to ask why is that important….well it’s because this particular position is one that is appointed for 15 year terms and he was still 5 years away from completing his term.

I will not sit here on this blog and profess to know everything about this man nor his past positions both inside and outside government.  However, after listening to this man speak on Bill Maher’s show I realized one thing: this current financial crisis our great country is experiencing is nothing compared to the issue lingering in the shadows of the dark alley our nation is currently walking down.  We can argue all we want that big banks are failing, housing was way overvalued, that we are losing our capitalist society..etc, but the truth is our nation as it stands right now is on the road essentially to bankruptcy.  Medicare and Social Security alone will take us there.  And I am not talking about the type of bankruptcy where your neighbor loses their job and didn’t have an emergency rainy day fund so they lose everything.  We are talking about an entire nation where the government is broke!  The kind of fiscal problems that would make California’s recent news headlines that they could be in need of a potential $8 Billion loan pale in comparison.

If you don’t believe me, a lowly average citizen who has no economic background at all, then maybe you should watch this Glenn Beck interview with David Walker:

Let’s take a single headline from that story: the average hit to the American household is $400K per household.  How many of us have $400K lying around as Beck asks?  Let me go ahead and start: not me, so everybody elses bill just went up.  Now I am not naive to think our country had obligations that we could afford but David Walker and Glenn Beck did a great job of putting things into perspective.

The problem is that nobody wants to discuss this in detail.  Why you may ask, I have an easy answer: it’s not sexy and doesn’t win votes.  What wins votes is saying things like: cutting taxes, keeping government out of citizens lives or slamming your opponent in 30 second feel good TV ads.  What is the problem with that approach, if you watched the above video you will see that none of that matters.  Instead we have to hear how expensive the wars in Iraq or Afghanistan are, how we are giving tax breaks to the wrong people, how we need to rescue the mortgage industry….who the hell cares, we can’t afford all the policies and the direction we are currently going in.  It’s like accusing McDonald’s of making you fat, as you stuff another Big Mac down your throat and saying they should do something to make the food healthier.  If you don’t address the real issues, you just continue to repeat the same pattern – DON’T EAT MCDONALD’s all the time.  Same for government, raising or lowering taxes does nothing when our revenues can’t even sustain our policies right now. 

While I am not saying the world will end tomorrow, but unless we as a nation begin to think beyond just the next political term or the next budget year nothing will ever change and this current financial crisis will be a drop in the bucket compared to what bills are coming due.  The next time you are in the voting booth, not just for President but all elected offices, ask yourself: is this person going to help this country be great for 10, 20, 30, 100+ years.  Don’t vote based on the 30 infomerical ad run by the candidates (which are created by clever marketing folks to appeal to your easiliy manipulated senses).  Don’t vote because you think the person would be great to hang out with.  Vote because you truly understand the issues and that person you are voting for understands them too.  In the end we are all swimming in the same pool.  And right now, somebody is peeing in the pool and nobody is paying attention.

**This is not necessarily an endorsement of David Walker or the foundation he heads up.  Rather this is just an attempt to make people see we have a much bigger elephant in the room.  Good day to all.

Creepy Obama Video – Must See!

Ok, now I’ve seen everything.  This is really creepy.

I’m not sure what is creepier . .  . the resemblance to videos of the Hitler Youth signing for their dear leader,

http://www.youtube.com/watch?v=kWtpo1KbxhM

or the over enthusiastic response of their parents at the end of the video.

I guess these children were finally able to make mommy and daddy happy.