Thursday, October 23, 2008

Sen. Evan Bayh comments on Fox

"Indiana's gonna go in a different direction..." says Sen. Evan Bayh (D) on a Fox News interview earlier today.

He's right -- in many respects.

For example, it's well-known how many CAFO owners and supporters have shovelled funds towards the Visclosky ticket over the years (and this year). And I, for one, will not be voting for him.

I'm not alone.

They also sent heavy support for a Democratic presidential nominee, but their guy lost in the primaries. I'm wondering if they've transferred their allegience to Obama now?

And then, of course, there's Mitch (R) and his "double pork production" slogan for Indiana. Definitely a NO vote on that one here in our area.

Tuesday, October 21, 2008

The October Surprise?

In "Bailouts and Bullets" I outlined a small piece of the very complex (and carefully crafted) puzzle that pushed the American taxpayers to their knees, landing them with the burden of bailing out humongous financial institutions even as they watched their own 401Ks disappearing before their eyes.

Yes, the CRA, particularly with the addition of the Clinton changes, was a major trigger... but in fact, the defaults in the sub prime mortgage arena were more like the kindling for a much bigger fire, something far more explosive - and evil IMHO.

I find it rather distasteful to see the media play up the sub prime mortgage side to the crisis with such a vengeance.

Lay off the mortgage defaulters for a minute.

Now, after you've taken your chill pill, how about reporting ALL THE FACTS... not just the little take-out window sound bites that you keep hammering on the little guy at the end of those sub-prime mortgages?

Let's take a walk back in history to the financial whiz kids era that brought about the biggest part of the mess, shall we?

Let's take a trip down CDS lane (Credit Default Swaps) starting with BISTRO.

The average taxpayer has no idea what BISTRO is, who dreamed it up, and how it became "all the rage" -- a working template for financial institutions throughout the world.

Before we begin this new journey... from what I understand, financial institutions couldn't securitize sub-prime before the revisions in the Community Reinvestment Act of 1995 (Clinton).

AND -- equally important -- a commenter on the article you are about to read had this to say in addition to the CRA related info:
The SEC had no authority to regulate Credit Default Swaps. Look up Brooksley Born. Greenspan, Robert Rubin and Lawrence Summers (Clinton's 70th and 71st Treasury Secretary) assured the agency which should have regulated them couldn't. The Commodities Futures Trading Commission, she was chair.

It started at J.P. Morgan. Then Credit Suisse caught on, building somewhat more toxic versions of it... and then, well -- I'll let you be the judge.

For those Americans who are still scratching their heads about this whole mess and wondering how a tiny percentage of mortgages out of the massive mortgage pie could have landed us all here, grab your favorite beverage and be prepared to read for the next 30 to 40 minutes...

Here is the most important (and best, IMHO) article you will ever read on the bailout subject -- The $58 Trillion Elephant in the Room

On another note...

I see Barney Frank and his buddies are gleefully rubbing their hands together wondering how much more money they should take from the taxpayers while we are all still reeling and somehow being made to feel guilty for the "so-called sub prime mess" that supposedly froze credit 'round the world.

NEWS FLASH to the House and Senate -- the American taxpayers are learning the truth. It would be wise if you put away that check book for now and wait to see how they plan to deal with the mess you allowed to happen on your watch.

For his part, McCain did try to reign things in on Fannie and Freddie. Obama must have later just been "present" as usual... I dunno.

Speaking of Obama...

Hey dude! Why don't you just fork over the necessary documents to prove your citizenship in the "Berg vs. Obama" case? It shouldn't take your legal team more than a few minutes to hand deliver it and get the whole citizenship thing cleared up. If you can afford to send such a HUGE fleet of investigators up to Alaska to do the smear job on Palin, seems like it would be a small feat for them to prove you are an American citizen.


You being a lawyer specializing in the Constitution, I would think this would be a very important little thing to clear up BEFORE the election, don't you?

And, ummmm, in case you're wondering, I don't believe the site regarding this issue. You were in charge of doling out millions of dollars through the Annenberg Assoc, the very same association connected to Nice try, though.

Just get your dang lawyers to high tail it on over to the courts with your documents. It's a very simple thing.

Unless... well, geez, I hate to even think it. Are you not an American citizen?

I won't tell everyone about the API tapes here. What your wife says to reporters isn't all that interesting to me. I never even watched her on "The View" or any of those other media spots.

But, I find it rather intriguing that your legal team should be fighting so hard to suppress the API tapes ... and fighting so hard to NOT supply the necessary documents proving your citizenship.

It's rather, odd... to say the least.

Meanwhile, a bit closer to home, did any of you happen to catch this article in Inside Indiana?

Way to go Jill Long!!! I applaud you for catching this and hope you will be successful protecting taxpayer interests here in Indiana. Thank you!

Fun With Words - Today's Word: FEAT
noun. notable deed; surprising trick.

Monday, October 20, 2008

Surviving the next four years in the USA

This is going to sound pretty weird to plenty of folks visiting this blog. That's okay. Consider it a wake-up call if, as I believe, the ballot boxes have already been stuffed and the 2008 elections already rigged.

Question: "The inner bark of which tree can be made into a soup to sustain life in the wilderness?"

Question: "What common weed can be used to make tea and/or coffee and can also be used to treat pneumonia, bronchitis, and other respiratory disorders, tinnitus, tonsillitis, osteoporosis, abscesses, anemia, boils, mammary tumors, cirrhosis, water retention, hepatitis, jaundice, rheumatism, warts, and may also be effective in eliminating or averting age spots.... AND can improve general health, and is beneficial to the kidneys, pancreas, spleen, stomach, and other organs?"

Question: "How can the sun be used to distill and purify water to make it safe for drinking?"

Question: "What is the safest way to preserve food in the wilds, far from any electricity?"

Final Question: "Think you don't need to brush up on your survival skills?"

Thursday, October 16, 2008

Slaughtering the American Dream

Several years ago, when my husband got injured on the job, the money stopped.

Poof - just like that - no paycheck, no income, not even unemployment benefits or worker's compensation... nothing. It was a soft tissue injury - next to impossible to file claims for benefits - and impossible to do the job he had done for 22 years.

I couldn't go to work... even if I had wanted to do so. We were still waiting on the long slow process of getting my permanent residence card. (In all, that took us 6 years. Long story.)

My husband had "made too much money" the previous year for us to qualify for any assistance.

So... there we were.

It wasn't too long before what little savings we had dried up. And in no time at all beyond that when the creditors began calling. And very soon after that when we couldn't afford to put gas in our tank to heat our home, heat our water, run our stove...

A dear friend helped us with 4 mortgage payments.

A close relative helped with 1 more.

Have you ever tried to cook spaghetti on a campfire in your backyard?

A little tip for you... you'll need a LOT of wood to keep the flame hot enough to keep the water boiling.

Six months, the coldest spring in years, we went without heat. We had a 2-1/2 year old child as well... and heating water for his baths became quite a trick. I'll leave it up to your imagination.

There is a saying that goes like this:
"Necessity is the mother of invention."

Without my residence card, I might not be able to work as an employee, but I could write... and I had a great deal of experience on the Internet. So, out of necessity, I began my Internet writing career... our first online business began.

The first year, we made less than half what is considered "poverty" by Government standards. Less than $13K for an entire year -- for a family of three.

Working 12-, 13-, 14-... up to 18-hour days, the second year brought in $60K -- but a mountain of debt hanging over our head sucked that up right quick. More long days -- 7 days a week -- night and day -- day and night... and the following year was our first 6-figure income year.

It was a time for celebration.

Then the tax bill came.

We're still paying that one off... it's a long process.

But we did it. We didn't declare bankruptcy. We didn't walk out on our mortgage. We didn't walk out on our debts. In fact, here we are, 6 years later, and we've finally managed to pay off the last of the largest (and highest interest) credit card debt.

It was a long struggle, doing what most people will not do. We lived on a budget so tight that even a pack of hot dogs was a luxury.

Cell phone?

Forget it... one more bill we were not willing to add our month.

A couple old computers, a cheap dial up connection, and a huge dose of dogged determination.

Those were the days, and not so long ago...

Flash forward to today. My husband is back at work doing the job he loves. Plus I'm still working on the business. Plus, just last month, I've expanded into joint venture ownership of 3 more businesses based online with partners on the East Coast... and with the economy in shreds, it's actually looking really good for us next year. I had even had plans to add 3 to 5 new work-at-home employees next year.

It's the American Dream.

The rags to riches story.

It's our story.

We lived it.

We suffered.

We struggled.

We sacrificed.

Yes, we even starved for a bit.

No Government handouts. Very little help from family and friends... a drop in a very large bucket if you would have seen the load we were under back then.

And Obama thinks that people like me should "share the wealth" with others who are not willing to make the kind of sacrifices I and my family had to make to survive ...and at long last... finally thrive?

He's like a vulture circling high over our heads...

We're just finally getting out from under a mountain of debt.

We're just now finally paying off that first whopping tax bill.

We're finally starting to breathe easier, even thinking of adding carpeting to our bare floors and finish remodelling the kitchen that has had to remain half torn apart prior to my husband's injury more than 6 years ago.

So now you know...

You know why the recent bailouts have angered my husband and I so much -- why Obama's plan actually makes me physically ill at the thought -- snatching our success away, the rewards for hard work, negating all the sacrifices we made to finally reach this point ...stealing our American Dream to give it to so many others that I know for a FACT would NEVER EVER go through the sacrifices my family and I had to struggle through.

Imagine that.

Based on polls I'm seeing, he'll be your next President.

Imagine that.

No more rags to riches stories for America.

No sirree... just households all across America lining up with their hands held out, waiting for their Government handouts.

Imagine that.

Work hard to succeed?

Well, maybe if you're a so-called non-profit like A.C.O.R.N. where you fall under far different tax laws.

Oh, and let's throw even more money into education and pay for all those who want a College or University education they can graduate and work for...?

I had to struggle, paying for my education as I worked two full time jobs, taking a course here and there as I could afford it. I have no "degree" or fancy certificate -- but I do have a business built from scratch out of need and a strong desire to face down our challenges.

And because we were willing to sacrifice.

Imagine that.

You think the financial picture is grim when you look at the Stock Market?

Check this out.

No less than 10 states are facing insolvency for unemployment benefits in 2009.

Indiana is one of those 10 States... here's a few others.

"California, New York, Ohio and Michigan are among populous states projected to deplete their unemployment insurance funds this year or in 2009 to cover the cost of benefits." [link]

"Michigan, which has the country's highest unemployment rate, at 8.1 percent, is already borrowing from the federal government, even though it is not in the red just yet, according to a spokesman." [link]

But here is the rub...

"The federal government is required to loan states money when their trust funds run short. In the short term, bailouts increase the federal deficit. In the long term, businesses pay higher unemployment insurance taxes to replenish the trust funds." [link]

Imagine that.

So, under Obama's health plan, how many businesses are thinking about hiring new employees next year? Under Obama's tax plan, how many will expand their businesses next year? And under Obama's plan to extend Unemployment benefits, how many new businesses will be eagerly starting up next year?

Restore confidence? Indeed.

Inspire economic growth? Puh-leeease!

And then he stands there and says we all will have to tighten our belts a bit.

The ultimate slap in the face.

Imagine that.

Spending is furiously out of control at the Federal level. Wealth is being redistributed every day... ...but who are the recipients?

Here's another little newsflash for you.

"On Monday, I said that the total cost of this bailout could scale up to $3 trillion -- I just didn't imagine it would happen by Wednesday. We learned yesterday that the size of the bailout just tripled, from $750b to $3T." [link]

All that to get credit into the hands of conumers, to build even more debt on top of debt on top of debt....

Imagine that.

Take it from one who has been there -- debt is no fun.

Sunday, October 12, 2008

I Won't Be Voting For Obama

After considerable deliberation, I've decided I will NOT be voting for Obama.

So ...go ahead all you far left Dems -- have at 'er.

Show the world how nasty you have truly become by posting your comments here.

Keep in mind, however, that comments are moderated.

With that said, I'm guessing most of the worst of you won't even see your comments appear here.

But, I will be reading every comment... so if it makes you feel self-important (and full of that ridiculous self-righteous indignation you like to brow beat others with), then feel free to flame away.

It won't change my mind.

It will just further reinforce my already low opinion of what has become of you...

So sad.

So very truly sad...

Friday, October 03, 2008

Bailout - Who Voted Yes

Well, here in Indiana, I now know who I'm NOT voting for... the "Y" against each name below.

In the Bailout Bill passed this afternoon, here are the votes from the Indiana part of the House:

DemocratsCarson, Y; Donnelly, Y; Ellsworth, Y; Hill, N; Visclosky, N.

Republicans — Burton, N; Buyer, N; Pence, N; Souder, Y.

Now it doesn't mean I'm voting for any of those who voted NO... but it definitely means anyone that voted YES is getting a NO from me.

Interestingly enough, Visclosky voted NO both on the first version and on the second version of the Bill. I'm impressed. It must have been tough considering the political arm twisting that was going on.

Speaking of Visclosky, Jasper County Democrats are hosting a "Meet the Candidate Night" event this weekend here in Wheatfield. Here are the details:

Saturday, October 4th 6:00 pm

Wheatfield American Legion
11768 N 80 West

Congressman Pete Visclosky, Jill Long Thompson (Candidate for Governor), State Representative and State Senate Candidates, and Jasper County Candidates

Free Food and Refreshments

PS: For a complete list of all who voted for and against the bailout bill, here is a link to the Associated Press article on the final votes.

Thursday, October 02, 2008

Bailout of the Century

After the Senate signed off on the $700+Billion-dollar-bailout, there was a saying that came to me that goes something like this:

"Fool me once, shame on you. Fool me twice, shame on me."

As the news trickles down to the American public of who really gets the biggest benefits... as the pounds of pork buried in the bailout becomes common knowledge... as the reality sets in for what we have done to our children, their children and their children's children...

~~ shaking my head ~~

They tell you it's about "Main Street" -- to make sure you and I have credit to buy those cars, those homes, meet those small business needs -- and yet, one of the first articles to come out this morning hailing from Bloomberg notes:
Oct. 2 (Bloomberg) -- The cost of borrowing in dollars in London for three months rose for a fourth day, signaling that banks haven't started to lend after the U.S. Senate approved a $700 billion plan to rescue beleaguered financial institutions.

...Credit markets have frozen as financial institutions hoard cash to meet future funding needs amid deepening concern that more banks will collapse. Libor, set by 16 banks in a daily survey by the British Bankers' Association, is used to set rates on $360 trillion of financial products worldwide, from home loans to derivatives.

Where not many months ago the Feds were known for giving millions to millionaires, the Feds have raised the bar, now giving billions to billionaires.

Sucks, doesn't it?

And look at all the "sheeple" who believe the Gov is acting in their best interest.

It hearkens to "abused housewife syndrome" where the woman keeps clinging to the hope that her man will change and stop beating her up.

In the back of her mind, she knows he'll never change and the beatings will continue, getting more and more violent... and yet, she'll see his false tears of remorse through swollen black eyes and cling to his false promises as she croaks through bloodied lips -- "I forgive you." -- sticking around for the next time he decides to beat on her. Never knowing when he will strike again. Walking on eggshells until the next time...

Those in denial will swallow the promise of economic security, the bitter pill that needs to be swallowed, only to watch the economy slowly unravel as the country's debt climbs to heights where it can never be repaid.

And voila, the tax slaves of the future have been condemned to their fate.

I dunno, maybe it's just me, but I just don't get it. Why-oh-why-oh-why do they want all of us to be swimming in debt? Why-oh-why do they want all of us to live on credit and loans instead of living off the wealth we build through saving and careful budgeting?

They've managed to jam it through the Senate. It now meets the house.

Who really has our best interests at heart?

"Wherefore by their fruits ye shall know them."
Matt. 7:20

In other words...

"You shall know them by their deeds."