What Does Reform Mean To You?

As more and more details surface on what is really buried in the Health Reform Bill (squashed through Congress using every trick in the book), the word CON in CONfidence is leaping out for those who previously had complete CONfidence in Government.

Meanwhile, whispers of "I told you so" are just beginning for those who had absolutely no CONfidence from the beginning of this whole dog and pony show.

CONsidering the distress that Health Care Reform has already begun to stir (with far worse to come), it's not surprising that many voters have a bitter taste in their mouth when the word REFORM drips from the lips of Democrats and/or the White House elite.

What gets under my skin, and under the skin of others who think like me, is how the White House and all those in the Senate and House are hiding behind the "Reform" debate rather than stepping up to the plate on accountability enforcing laws already present. So sad.

Rumored to be some 1408 pages long (some say more than 1500 pages long?), the Financial Reform Bill will cast a giant Government shadow over all businesses -- yet, according to some, it will do little to reign in the sources and root causes (notice the plural?) that shoved world economies into Cat. 5 Economic Hurricane status.... IMHO. In fact, I dare say we now sit in the eye of that Cat-5 financial storm, and the eye will soon pass to bring on the backside of this hurricane.

Trend watchers of historical economic data tend to agree that the next "recession" is due in another 2 to 3 years. We're far from over this one thanks to positively terrible handling (read mishandling) by this Admin. Just my humble opinion.

The thought of them "reforming" anything further sends a shudder down my spine.

Let's take a break from this gloom and doom path.

Here is an experiment Christian readers of my blog can try...

Take the "Reform" bills passed by this Administration to date and find out how many times one of our Ten Commandments was broken. While you're at it, take a look at some of the few details we've seen regarding the current so-called "financial reform bill" winding it's way through Washington and refer to this particular commandment:

"Thou shalt not covet thy neighbour's house, thou shalt not covet thy neighbour's wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor any thing that is thy neighbour's." Exodus 20:17

Envy, even today, is a dirty word by many standards and/or interpretations... but it seems, at least to me, that this Administration is hell bent on redefining the word, raising it to some kind of "social justice" platform. It's like they're saying it's okay to hate (read envy) the rich. Notice... in the above quoted Commandment... being the rich neighbour isn't bad... being the jealous neighbour is bad.

But...

I'm certainly no religious zealot here... nor am I a pastor or preacher of the Word. Those far more experienced than I in interpreting God's laws would in all likelihood be better equipped to define the word "covet" as it exists within this commandment.

Those who kneel before the President's speeches and let him lead them into a "bash the rich" marathon can look inside their own hearts and decide whether it is actually their own envy that spurs them on this path... or not. They'll meet their maker some day. We all do. Some of us will have more 'splainin' to do than others.

Personally, I just want to see those who actually broke the law, face legal justice.

And I most CERTAINLY don't want to see a permanent slush fund set up to bail a single one of them out, ever again!

Toodle-loo... I'm off to see if I can buy some "reform" insurance. Maybe AIG is selling it. Heheheh.

Tear Down This Wall

I was going to make this a quick one today.

Watch this video:

"Why Aren't These Guys In Handcuffs Yet?"

Since we are now fast approaching the 2 year mark of the official Nov. 2008 election results when the much-touted transition team were being fully debriefed in preparation for taking over the White House, I'm quite surprised that the super-majority (read all-powerful) Democrats have built so many walls behind which to hide the ugly truth of the financial mess they kept using as their "blame the previous administration" excuse gavel in order to "pound" their way through their first year.

It's year 2 now...

Democrats have used the "previous administration" excuse and the "financial crisis" excuse: to cram through a $410 Billion omnibus budget, to dump a MASSIVE $787 Billion dollar stimulus (read - stimulack) Bill on our backs (which has grown since then), to drive up our debt ceiling several trillion dollars, to jam thru a heavily flawed Health Care Pill... errrr, Bill... using deceptive reconciliation rules in order to avoid a true debate following the shout that came from Massachusetts voters... a Bill which, in my very humble opinion, will drive up our deficits trillions more while completely collapsing both Medicare and Social Security (regardless what they claim to the contrary)... etc., etc., etc.

...and yet...

...here we are...

...nearly 2 years later...

And no one is behind bars yet?

Even worse -- no one knows for certain how many other banks out there were using the same deceptive -- read: illegal -- accounting practices? Well... maybe Larry Summers knows, maybe Paul Volker knows,  maybe Hank Paulson knows, maybe Gheitner knows, maybe Bernanke knows ...and just maybe even Barney Frank (among others in the current Admin) knows... ...but the taxpayers who had to foot the bill to save all their asses... what do we know?

In the very beginning... even before... this new Democrat era, I recall how quick the new Administration was to demonize Wall Street Fat Cats, Fannie/Freddie and AIG... remember? Here are a couple quotes to help refresh your memory:

"Tomorrow you can turn the page on policies that put the greed and irresponsibility of Wall Street before the hard work and sacrifice of men and women all across main street." (President Elect Brack Obama - Nov. 3, 2008)

"Let us remember that if this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers." (President Elect Barack Obama Nov. 4, 2008)

Bottom line, the accounting "shell games" played by Lehman were illegal.

Plain and simple.

The individuals playing the game could have been stopped and put behind bars at any time.

Truth is, there are plenty of regulations at the SEC and Fed's disposal that could have been enforced to reign in the mess, and plenty of things that could have been done to STOP the Fannie/Freddie catastrophe for which we're still paying (and Dems are hiding, deliberately keeping $1.6 Trillion dollars OFF the books and OUT of the Budget) ...the repeated cries for clampdowns rang out (from Republicans)... but were ignored (by Democrats)... even deliberately shoved aside by House Democrats in power at the time, as this unforgettable video clearly reveals when an investigation was requested by Republicans:



Fannie/Freddie were practically the biggest crime of the whole mess IMHO, and a close look at the timeline shows the callous disregard by Barney Frank in this video.

And I quote from Barney Frank himself the part where he says with respect to Fannie and Freddie: "I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios; even if there were a problem, the Federal Government doesn't bail them out."

Ahem!

What about the Housing Bubble? Here's another priceless video starring Barney Frank.

And what about the $90 Million in bonus money that Franklin Raines walked away with while he practically "cooked the books" for Fannie and Freddie? He gets promoted to a position on the Obama staff instead of penalized for being a party to the entire mess??
The way I see it, Republicans have been trying for years to reign in Freddie and Fannie. Democrats have been blocking Republicans from doing anything about it for years.

Think about this...

In the Enron accounting scandals, people went to jail. Accounting firms were held accountable. Justice was served on people who broke the law.

This Admin's answer to the Lehman accounting crimes?

Let's rewrite all the laws, overhaul the regulations... we'll hog tie all those left standing so they can never do this again. Really? Really!?! Have you Dems lost your freakin' marbles? You never once stepped in to enforce the rules and regulations you already had at your disposal... ...indeed, you fought against a clampdown... ...you rewrote laws in previous eras of Democratic power that helped enable the mess... ...your ACORN bully buddies forced things even further... ...and now you claim you want more power to control the "bad" guys in the apple barrel? Even worse, you want to grant those powers to yet another shadow body under the Federal Reserve's umbrella -- the very freakin' people who also helped put us here in the first freakin' place?

It goes to prove how far out of touch the Dems are with the people.

Let's start with Lehmans...

We don't want reforms.

We want justice served.

We want those who -- did the crime -- serve the time.

Then let's move on to Freddie and Fannie...

We want all of those who were responsible, including politicians, regulators and more... held accountable.

We are sick and tired of the innocent being hammered with the debt, financially punished for crimes they did not commit, while the guilty go free complete with the millions and billions they pocketed in the process.

DEMOCRATS!! Do they get it?!?

Here is a little something extra to get your heart racing without doing any exercise... check this out.

Bloomberg BusinessWeek: The 50 Most Powerful People in U.S. Real Estate

Go through the list and find out who warned you about what was coming with respect to the housing crisis... and who didn't.

Who were the "enablers" on that list?

For the record, Barney Frank is not stupid. Far from it. The fact is, he is extremely sharp, sly, and cunning... learn more about Barnett "Barney" Frank here.

Will he be able to complete his image makeover so Massachusetts voters can forget his part in the entire financial mess? They claim voters have very short memories. We shall soon see...

Meanwhile, here's what I predict.

Dems will use all of this as an excuse to further hammer away at capitalism and further entrench the country in socialistic reforms which will NOT address the perpetrators of the crimes that occurred. They will try to harness the outrage still simmering from when the "crisis" first hit, and use it as a tool to further their own agenda while making the "stupid voters" believe they're actually punishing the guilty.

Sadly... there are plenty of voters still out there that are dumbed down enough to believe them, IMHO.

"Just a spoonful of sugar helps the medicine go down."

Take Cover: Here It Comes

In the previous 48 hours I've watched more than 18 hours of CSPAN. How about you? Did you want to bear witness to what was actually taking place -- live -- while it happened -- or did you opt to get your information via sound bites, pundits and blogs?

The Dems had a few things right:

1. It was an historic vote, but not for the reasons they gave.

2. It is a bad bill, as many have admitted, which is the reason for the massive ammendments yet to be placed before the Senate.

3. It will provide access to health care insurance for some of the uninsured (not all) but at huge costs to States, businesses and individual tax payers.

You see, the Bill will not only penalize businesses who do not offer a government approved level of health care to workers, it will also penalize individuals who do not have health care... businesses are mandated to offer it, individuals are madated to purchase it... see a flaw in this? Let's see if the "experts" find it.

Here are 3 points they did NOT want to emphasize:

1. It adds 17,000 NEW IRS Agents to the Fed payroll to police the new Bill.

2. It adds 20 NEW TAXES

3. The States are now on the hook for Medicaid expansion included in the Bill... whether they can afford it or not.

One of those new taxes is a tax on investment income. I haven't had a chance to read the CBO scored Bill yet, so I'm wondering... this tax on investment income... ...it surely wouldn't be retirement investment income... would it? Or is it merely penalizing those who have saved their money over the years by investing it, prudently preparing themselves for their childrens' future education, or their retirement, or.... fill in the blank... ?? Is ownership of property considered an investment under the definition? What is this new tax... exactly?

Hmmm... 20 new taxes... aren't you wondering what they are?

At this point, I guess it doesn't really matter. They passed the Bill. Two hundred and nineteen Democratic House Reps voted in favor... 212 House Reps voted against the Bill. A party-like atmosphere seemed to erupt for those 219 Democrats. I wonder if their constituents are partying it up with them back home?

Doesn't matter.

It passed.

We're all screwed now...

So, let's go back to what I was warning everyone about, have been warning for the past 18 months... by starting with an article published in "the Atalantic" this month.

This is an IMPORTANT READ!

It will take about 30 minutes to read through. And although I disagree with the author's personal unsupported contention that what is now needed is even more Government spending, which is the core cause of the crisis we now face, the remainder of the article is well researched.

Take 30 minutes to read this now: "How a New Jobless Era Will Transform America"

Go ahead... read it... I'll wait.

Now, a quote from the article: "A large and long-standing body of research shows that physical health tends to deteriorate during unemployment, most likely through a combination of fewer financial resources and a higher stress level."

Now, go back and read my blog post from yesterday.

We have work to do if we are to prepare ourselves for what is now coming from this tax and spend Administration. I want you, dear readers, to be prepared for the lost decade in which we now find ourselves. We can choose to curl up and hide under our blankets hoping our Government will save us from the tough times ahead... or we can ignore them (like they apparently ignore us), roll up our sleeves and get ready to think our way out of this box they're squishing us into.

I have some ideas...

Stay tuned.

PS: Thank you for listening, Mr. Mike Pence. And thank you for standing up and letting them know how many of us feel here in Indiana.

He Blew It On Health Care

Don't say I didn't warn you. Way back on March 6, 2009, I told you he was going to blow it... and as we race towards the dawn of a new day, the sky is darkening with the threat of a health care Bill passage that has kept the entire nation on pins and needles...

And I can finally say... HE BLEW IT!

Every single politician that votes YES today -- shame on you. Some of you even admit it's a bad Bill, but you're voting in favor because it's a start. A start? A START?!?? Good Heavens -- EDUCATION in this country must really SUCK bigtime if these are the brightest bulbs we can find to light the way to our future.

I bet you think this post is all about the Health Care Bill about to be voted on, right?

Wrong!

I warned you last March.

I warned you last May.

I warned you last June.

I warned you yet again last July...

If you listened, you've stockpiled your cash.

Keep doing it.... but do MORE of it... and FASTER!!

You see, the REAL numbers are out with respect to GDP, Unemployment and more; and they're very, very ugly!

Companies are, RIGHT NOW, in a state of contraction. Real unemployment touched within a hair of the 22% mark, followed by a slight dip, and is again on the rise. Taking out the Government gimmicks, February inflation was actually estimated to be 9.4% (not the 2.1% CPI-U). Take inflation out of the mix and those small increases in Retail Sales don't look like the picture they've been trying to paint, do they? The fact is, Retail Sales have been bottom-bouncing for quite a while now. If the REAL numbers are important to you, then you will want to pay for a subscription to this newsletter. No, I don't make a cent for referring you to it.

And all of that is the BRIGHT side.

Here is the DARK side.

It's Defcon 4 for some of the largest States with respect to deficits gone wild. Liquidity is a growing problem for many banks as well... with several more banks at or near being closed in the months ahead.

Foreclosure numbers in residential Real Estate appear on the surface to be leveling off... but if you think something is out of sync since Default numbers appear to be climbing, you might be in agreement with this brave reporter. Can you even trust the foreclosure numbers?

And what is really happening in Commercial Real Estate? It was projected in May of 2009 that... "...the most dangerous time for banks will be 2010 to 2013 when $1 trillion in commercial real estate loans will mature..." What? No follow-up? Why are the media so silent on what's going on in commercial real estate this year?

Take a quick glance at the global picture for a moment if you dare. Remember that global summit where newly elected Obama made the plea for other countries to join him in pushing more money into the system? Well, the impact in the form of a credit bubble has formed in Canada... but that's the least of the problems out there. Here is a quick snapshot of the Greece, China, etc. "global recovery" at the moment. I guess that sorta proves you can't "just throw money at it." Interestingly, it seems Germany doesn't agree with the redistribution of wealth thingy.... at least, not when it comes to their country having to bail out some other country.

There's more... much darker... we're already entering the edge of that valley.

But let's go back to the Health Care Bill...

I was watching C-Span between 1 a.m. and 4 a.m. with respect to process and the additional amendments that were brought forth to discuss on the floor during the big VOTE coming today, and I gotta tell 'ya, the Party of NO was all Democrats with respect to fairness in the process, transparency in the voting process itself, and common sense additions, removals, and/or repeals in the Amendments put forward.

Examples...

Amendment suggested (paraphrased): "...that all revenues generated for social security via payroll tax increases be kept in Social Security and not used for other purposes." All Dems voted NO and all Republicans voted YES.

Amendment suggested (paraphrased): "...that all revenues and or savings generated with respect to Medicare be kept in the Medicare budget to offset deficits." All Dems voted NO and all Republicans voted YES.

Amendment suggested (paraphrased): "...that small businesses and minority-owned businesses generating under $500,000 per year be exempt from the employer mandated health insurance clause." All Dems voted NO and all Republicans voted YES.

And it went on and on and on...

In fact, the Democrats have been the Party of NO ever since Mr. Yes-We-Can moved into the Whitehouse. They said NO to having any Republican involvement at the beginning of drafting the Health Care Bill, they said NO to having any Republican representation in the "behind closed doors" discussions and bartering, they said NO to having C-Span cover the debates, they have been saying NO quite a bit, don't you think?

And now they're getting ready to push this country off a very steep cliff.

It's already too late to save the economy.

We're about to go through some excruciating pain in the months and years ahead.

He BLEW it!

They BLEW it!

He could have been a hero. What an incredible missed opportunity!!

The freaking nimrods wasted an entire year playing patty-cake with a piece of legislation that will be the final straw on the limping economy's back. What could have been a molehill is now a mountain, and thanks to this junk legislation, the peak of the mountain is now higher than the highest on this planet.

Think it's not going to happen?

That's fine.

You're entitled to your own opinion.... and good luck with that.

But, consider this...

If you ran an independent FULL audit of the Federal Reserve -- right now -- today -- don't you wonder how much money has been funneled into the Pump and Dump scheme in order to get enough "Stupid Money" back into Wall Street? How many key players have set themselves up to rule the world that will come out of the destruction we surely face right now?

It's beginning to look like the main reason Obama doesn't want you to go to Vegas is because, in my very humble opinion, it most likely will be the only long shot left for rags to riches stories in this country...

On Shaky Ground

The Bay Area experienced its second earthquake of the year this afternoon, a 3.4 magnitude which struck in San Jose shortly after midday. Meanwhile, scientists at NASA say the Chilean earthquake -- a magnitude 8.8 -- may have shortened the length of an Earth Day by 1.26 microseconds (1.26 millionths of a second) and might have moved Earth's figure axis by about 8 centimeters (3 inches). Not to be confused with our north-south axis, the figure axis is the axis about which Earth's mass is balanced.

I mention this for 2 reasons...

First, as many of you know, I'm a science buff. I love trying to understand how intricately interconnected everything in our universe appears to be... how simple yet totally complex life is... and the unlimited possibilities that exist because of how little we actually know -- about our planet, about life, about our universe. After all, did you even consider that a quake so far away could have an impact around the world?

Second, in a truly bizarre way, it reminds me of the health care bill being currently jammed through in Washington... a bill so unpopular that it could not be passed when the Dems had a super majority... and now being sandwiched through under the threat of "reconciliation" ...what some on the Hill call the "nuclear" option.

Polls keep swinging back and forth on the issue. The best results in favor tend to use very vague questioning... something along the lines of "should something be done to lower the costs of health care in this country -- yes -- or -- no" ....d'oh? Yes, let's clutch at that straw shall we? That seems to be the ONLY major issue everyone agrees on so it's not surprising that a large number would answer yes. No brainer, right?

The real question should be: Will the current bill being pushed through now lower costs of health care both for individuals and the industry as a whole -- yes -- or -- no?

The way I read it, the millions currently without health care are now going to be forced to buy it whether they want to (or can afford to) or not.... so I'm guessing that's one group for which it will raise costs. Not so fast. Supposedly there will be millions of people that can now get it free. Or do they? Jeepers. I'm not really sure. Are you as confused as I am on that point?

Those who are currently uninsured preferring to use "pay as you go" (meaning, pay the doctor when you see him/her for your check up, pay for tests as and when they are needed, etc. etc.) will now be forced to buy insurance. I'm assuming costs will go up for many in that group.

Our family used that method when we didn't have coverage and it was FAR LESS expensive than any family plan I've seen to date. We didn't burden the emergency room... nor did we ever get free health care... and frankly, the doctors and specialists seemed to like seeing that instant cash. Just imagine the paperwork they didn't have to file to collect from some insurance company or govt agency. I'm guessing it would be far less expensive from an administration point of view and probably increase cash flow since there would be no waiting for accounts receivables to roll in. I'm guessing when insurance is mandatory, costs both for purchasing it (where it wasn't purchased before) and administering it ...and the new cost of REGULATING it... are all going to increase... but I could be wrong?

Then there will come the day when our son reaches the age where he is forced to buy health insurance. I wonder how he (and his generation) are going to perceive this Administration? Or will the bill be repealed by then?

Canadians might complain about their health care, but I'm guessing you would be very hard pressed to find them jumping at a chance to have this mess and the related expense. I can just see my Canadian friends going to the doctor and having to fork over a cheque first to cover their deductable before the doctor will see them. Ha! They have no idea how terrible things truly are if you actually live down here.

If the Dems use the "reconciliation" option, going forward with a 51 vote in lieu of the standard 60 votes required for passing legislation of this size, I see it as Obama's first major earthquake... and the days for his party being shortened considerably.

A new gallup poll out says that just 37% want their member of Congress to vote for the bill.

But this Whitehouse doesn't listen to the polls. They keep chiming that they won the 2008 election, and therefor they have the people behind them. Have they turned around to look? I'm guessing they don't watch approval ratings either. Congress approval ratings have been in the toilet for a long time now and Obama is steadily sliding down.

If he pulls the same stunt with Cap and Trade... I see a major opening for a third party to rise up quickly.... because it will be the Dems who shove this country off a cliff into a double-dip recession... or worse, the next Great Depression. Think it can't happen? Stay tuned.

FDIC Fridays Update and Unemployment

It's been ages since I brought you an update on FDIC bank closings, so I'll do a quick month-by-month here today. Plus, let's take a look at the so-called "lagging indicator" ...job gains/losses.

FDIC Closings (Bank Failings) 2009 and 2010 (as of Feb. 26, 2010):

Jan 2009 - 6
Feb 2009 - 10
Mar 2009 - 5
Apr 2009 - 8
May 2009 - 7
Jun 2009 - 9
Jul 2009 - 24 (Yes... 24 in a single month!!!)
Aug 2009 - 15
Sep 2009 - 11
Oct 2009 - 20
Nov 2009 - 9
Dec 2009 - 16
Jan 2010 - 15
Feb 2010 - 7

Total Bank failures in 2005: 0
Total Bank failures in 2006: 0
Total Bank failures in 2007: 3
Total Bank failures in 2008: 25
Total Bank failures in 2009: 172
Total Bank failures in 2010 (as of Feb 26/2010): 22

Rumor has it that the number of bank closings by the FDIC are about to rise as several new Federal FDIC employees have been added of late... just a rumor so far?

Hmmmm...

Is it really "credit drying up" that is causing the problems for small businesses in the USA? Or is it the disappearing bank phenomenom that's causing the problem? Kinda makes you wonder, doesn't it?

Let's see...

How do we compare with other countries in bank closings? Well, I'm going to stick to Canada and the USA for this one because I don't have time to dig up the stats for all the other countries. Plus, I'm only taking a look at the year 2009... the bank closings that have happened on Obama's watch.

Are you sitting down?

Here we go....

Total banks closed in USA for 2009: 172
Total banks closed in CAN for 2009: 0

There are several reasons Canadian banks have faired so well, including the regulations placed upon them by their Federal Government... regulations which are strictly enforced.

But there is a dark side. Talk to any Canadian business owner and most will tell you that "the only way we can get a business loan, any loan, is if we don't need the money."

Yes, the banks up north are definitely risk averse. None can deny it. And their accounting practices and related regulations are strongly enforced... something that helped them avoid the fallout most of the rest of the world's financial institutions felt.

In Canada, liabilities (read mortgages) were kept on their books... not repackaged and sold as "securities" (and resold and resold and resold, magically converting liabilities into assets) which is the TRUE root cause of the Wall Street collapse. When a default occurred, no one was certain who actually owned it because repackaging and selling had become so rampant here in the USA and elsewhere.

One truly has to wonder, though, with all the small banks being closed across the USA right now... is there another agenda afoot by the current Administration? I'm guessing this op-ed article published a year ago (in Feb. 2009) probably has it spot on:

"The Great Solvent North"

There is a certain stupidity in this bank-envy if, in fact, the Obama Administration is trying to emulate the Canadian banking system here in the USA. I refer to "fuzzy accounting practices" and "lax regulation enforcement" to mention just two of many things that will bring about the downfall of any such bull-headed attempt... or should I call it a "bear"-headed attempt?

If this is indeed the path the Administration is following, buckle up America. This Administration has already proven to lack vision with respect to seeing the BIG Picture along with the SMALL Picture, IMHO. You think jobs are tough to find now? You have absolutely no idea how truly bad it's going to get.

Speaking of which...

Let's move on to that "lagging indicator" everyone is talking about, shall we? Here's how the cookie crumbles as far as national unemployment...

Seasonally Adjusted Unemployment Numbers
Bureau of Labor Statistics (pdf)

Jan 2009: 7.7 <---- Obama steps in and 2nd 1/2 of TARP released
Feb 2009: 8.2 <---- ARRA (Stimulus) forced thru
Mar 2009: 8.6 <---- ARRA (Stimulus) starts
Apr 2009: 8.9
May 2009: 9.4
Jun 2009: 9.5
Jul 2009: 9.4
Aug 2009: 9.7
Sep 2009: 9.8
Oct 2009: 10.1
Nov 2009: 10.0
Dec 2009: 10.0
Jan 2010: 9.7

How do we look when compared with other countries out there with respect to annual (adjusted) average unemployment going up? Let's take a quick look by Quarters (Source - USA BLS):

............. USA ... CAN .. AUS .. JAP .. FRA .. GER .. ITA .. NLD .. SWE .. UK
Q 1/09 __8.2____6.7___5.3___4.5___8.7___7.7___7.4___3.1___7.4___7.1
Q 2/09 __9.3____7.5___5.7___5.3___9.2___8.0___7.6___3.3___8.2___7.8
Q 3/09 __9.7____7.8___5.8___5.5___9.3___8.0___7.9___3.5___8.5___7.9
Q 4/09 _10.0____7.6___5.7___5.2___9.6___7.9___8.4___8.8___ na ___ na

Sidenote: NLD=Netherlands

Fourth Quarter figures were not available for Sweden or United Kingdom at the time of writing this article... but if we look at the "trend" here, I'd guess we're #1 in unemployment.

Source: Bureau of Labor Statistics

So... how's that Stimulus working for you?

You can't fudge the numbers. This is all happening on Obama's watch. As much as we know Dems love to blame everyone and anyone else for their sloppy -- dare I say stupid? -- administration skills... history will show them at the helm. The buck stops right on the doorstep of the White House itself.

Today... January 28, 2010

As I watch PBO take the campaign stump yet again in Florida to grab some limelight on sticking that first shovel in for the high speed rail project about to get underway, I'm also hopping around to see what's going on behind the scenes on this day.

Before I go into the crime against the people Dems are about to make, I also want to predict -- here and now -- what I believe will be a MASSIVE OVERRUN in costs for the high speed rail project. How much over budget will it be in the end? That's anybody's guess... I'm just saying it will be MASSIVE!!! Just my humble opinion based on all this Administration has accomplished in the way of gross spending to date.

Which brings me to the "what else was happening today" subject of this blog.

But first, a history lesson from Sen. Judd Gregg.

"It took 200 years to build the federal debt to a total of $1.9 trillion," Sen. Judd Gregg, a Republican, said. "Now the majority wants to increase the current limit ... by $1.9 trillion so that we can finance the government's borrowing binge long enough to get us past the November 2010 elections."

Well today, the Senate used every Democratic vote they had... every single one of them... to pass a $1.9 Trillion (yes, that's Trillion with a "T") increase in the nation's debt ceiling.

For the record, that puts our debt ceiling at $14.3 Trillion (according to Associated Press & Bloomberg).

The way I see it, here is the threat they used to get it passed:

"But a losing vote — the tally was scheduled for around noo (1700 GMT), when financial markets are open — could unnerve the stock market. Lawmakers in both parties have promised they will not permit a market-rattling, first-ever default on U.S. obligations."

So what happened shortly after the vote as far as the stock market? Well, I checked it shortly after the vote and the DOW was down by more than 130 points... after which it struggled for hours to creep back up.

The AP story on the subject said it was a 60 to 40 vote, but a Bloomberg story indicated it was a 60 to 39 vote.

DOES IT REALLY MATTER HOW MANY "NO" VOTES??

The glaring picture here is that there were 60 VOTES IN FAVOR... ALL OF WHOM WERE DEMOCRATS!!!

And those so-called blue dogs were tossed a bone which they ate up -- a "debt commission" -- a little task force put together that would look at ways to reduce the nation's debt. Notice they are to "look" at "ways to reduce the debt" ...not actually do it ...nor actually implement anything. Nosirreee... they're just supposed to look at it.

Yeppers.

Not a whole lotta meat on that bone, is there?

But apparently that is enough meat for these supposedly conservative blue dog democrats.

Aw-w-w-we, for crying out loud, don't crap with your BS on my front steps. There isn't a fiscally responsible one among the lot of you! You're just as drunk on spending the peoples' money as the freaking Executive branch is... but just as with alcoholism, you have to first admit you have a problem before you can deal with it and fix it.

In my personal humble opinion, they're all acting like a bunch of teens drunk on power and feeling flush with our cash... spending us all into bankruptcy.

I say we take their freaking Platinum embossed Federal Credit Card away from them until they learn how to be fiscally responsible with our money.

What say you?


Sources:

Bloomberg: Senate Votes to Increase Federal Debt Limit by $1.9 Trillion

AP Story (via Yahoo!): Senate permits gov't to borrow an additional $1.9T

And for a little history, here is a story on last month's increase on December 24, 2010 -- Congress raises debt ceiling to $12.4 trillion


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PS: Did you miss me?

I Still Don't Get It

You know, I've been trying really really hard to see what the supposed majority see in Obama... trying really hard.

I still don't get it.

If any other President had posted on the White House website the following quote, there would probably be calls for impeachment. Talk about trying to make people afraid to speak their own minds and/or express their own opinions. This is outright intimidation:

There is a lot of disinformation about health insurance reform out there, spanning from control of personal finances to end of life care. These rumors often travel just below the surface via chain emails or through casual conversation. Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an email or see something on the web about health insurance reform that seems fishy, send it to flag@whitehouse.gov. [link to full story]

If anyone were going for their Toastmaster goals and delivered speeches the way he does, drowning in ummms, ahhs, errrs... they'd be the laughingstock of the entire Association, and yet he gets praised for being such a brilliant speaker... a man who demands that his teleprompters go everywhere he goes. It's not only pathetic, it's truly sad, IMHO.

But I'm in the minority, according to polls, pundits and others following him en masse.

It's an eery feeling, like watching a movie that you feel is going to end soon so everyone can get back to reality and go back to work on building their lives, hopes and dreams.

But it's not a movie.

It's real.

And for some strange reason I can't quite explain, I find that just a bit frightening considering the USA's position in world affairs. The most powerful nation in the world being run by a bunch of school ground bullies? Say it isn't so.

You Can't Handle the Truth!

In the movie "A Few Good Men," JAG lawyer Kaffee (played by Tom Cruise) demands, "I want the truth."

In response, Col. Jessup (played by Jack Nicholson) shouts back, "You can't handle the truth!"

Little bits and pieces of the truth are floating around in a huge vat of speculation, innuendo and fiction with respect to;

• the initial bank bailouts
• the Freddie/Fanny bailouts
• the AIG bailout
• the GM/Chrysler bailouts, and
• the subsequent mainstream bailout (ie. Stimulus Plan)

The actions of our Federal Government redirected extraordinarily massive amounts of taxpayer dollars into the hands of a few "privileged" entities in all instances.

What was the tipping point that led our Government on the largest spending spree in our country's (in any country's) history?

By now we know that there are some dirty tracks leading directly to Paulson's doorstep, as this article clearly points out.

But that only excuses the first round of TARP... an explanation that "we can't handle the truth" ...quote:

Making his first appearance on Capitol Hill since leaving office, the former Treasury secretary Hank Paulson said it was important at the time not to reveal the extent of officials' concerns, for fear it would "terrify the American people and lead to an even bigger problem".

So, I'm guessing there is some truth to the rumors that Martial Law would have been declared if the first TARP had not been signed? And possibly there is a glimmer of truth to the idea that so-called leaders in Washington truly believe this nation is so weak, it can't handle the truth?

For some reason, I just can't shake that picture of Jack Nicholson as Col. Jessup out of my head.

In the many catastrophes that have hit this nation, from Pearl Harbor to 9/11 to Katrina and more, it would appear to me that this country draws more closely together to help its fellow citizens when facing great adversity. And, in most instances, they did not stand around waiting for their Government to act... many from all across the land came in droves to help out where ever they best could.

Can we, the American people, handle the truth?

You tell me...

The better question might be, what would the American people do if the truth revealed that they had been swindled... that some in high places had orchestrated the entire financial mess. Well, then, I'm guessing the Federal Government might have cause for concern.

I ask again, "Can we, the American people, handle the truth?"

Must see video

Not much time to blog today, so I'm leaving you with this short video. A MUST see!



Will be back tomorrow with some HOT info for all of you!

While We Were Sleeping a Tea Party was Brewing

Practically everyone remembers the first round of large tea parties held earlier this year on tax filing day -- right? I posted pics from twitpic here for all of you to see the crowds gathering in cities and towns across the nation.

Fox News was about the only major network to cover them in detail.

Most all other major networks (if we can call them that today) either dismissed them and/or derided them -- some outright calling them "turf" roots instead of "grassroots" -- something even Pontificating Pelosi claimed when asked about them. They would love people to believe this is some kind of Republican thing, not grassroots at all.

So, I grew really curious... methinks they (networks and WH crowd) doth protest too much.

Curiosity is at once a curse and a blessing. (I'll explain that another time.)

I searched on the map for all the July 4th tea parties, compared the map with the 2008 election map and noticed a very interesting pattern. It seems the majority of the tea parties were happening in BLUE zones -- you know -- those are the zones where the Dems supposedly won by a landslide.

Not all of the tea parties, grant it... there were a few Republican strongholds holding tea parties as well, but some of the BIGGEST TURNOUTS seemed to be occurring in MAJOR "landslide" DEM cities.

Since many in attendance for most of these tea parties are from local and surrounding areas, if one has a curious mind such as mine, one might be thinking something isn't quite right here. If those so-called-big-networks were right, and this is turf-roots, not grassroots, either the voting machines got something wrong, or there is something similar to "buyers remorse" happening in these largely Dem territories... wouldn't you think?

But I digress.

There are bigger things going on.

I've been following twitter A LOT these past few weeks. Even watched/participated in the Twitter Tea Party that happened last weekend. It was kinda fun, and enlightening, all at the same time.

But here's what has been happening while we were sleeping...

Another MASSIVE Tea Party is Brewing.

I'm talking MASSIVE!!!!

But for this tea party, it will require travel -- because they're taking right to Washington DC.

Seriously. Check this out.

To all the national networks who avoided reporting anything about the tea parties and/or derided them and tried to paint them as ruffians, hoodlums, whatever ...man-oh-man are you in for a surprise. Bet you're wishing you tried to cover them honestly now, right? Nah. You could care less. You'd probably far prefer covering Obama's date nights and their cute doggy or the little organic garden thingy.

Meanwhile...

While the major news networks were tuned into the Sotomayor confirmation hearings all day yesterday, here's what happened while they were sleeping.

A massive twitter campaign sprang up organizing petitioning and/or calls to Reps to Read the Bill (referring to Obomacare).

Another massive grassroots push is supporting the Ron "Skywalker" Paul Bill. Read this for a truly entertaining perspective on this bill (I LOVED it! Reminded me of Czar Trek all over again!) -- and read this for a more serious look at it.

And on a completely different story, looks like the birth certificate thingy might soon be resolved. (It will be nice to put this puppy to rest once and for all.)

The resolution is coming from a truly unlikely source and a case that I have not yet heard any mainstream (or otherwise) news report on, so I'm not even sure if this case filed by U.S. Army Reserve Major Stefan Frederick Cook is true -- or if the many other U.S. Army soldiers said to be joining on with the case is a fact. Still, it would be nice to put this issue behind us. I'm looking forward to the confirmation that a vault copy certificate has been brought forth and authenticated in a court of law.

It's driving my curiosity nuts!

Kind of like a mosquito in your bedroom at night that simply won't let you sleep.

Annoying.

There are a ton of other HOT stories (particularly in the financial sector) that went unnoticed by mainstream media as they kept covering the Sotomayor confirmation hearings. But, it's late, and I have work to complete before I can go to sleep tonight.

See you tomorrow... time permitting.

PS: Hey Indiana! How are you liking them new Fire Safe Cigarettes? Not sure what I'm talking about? Check your pack and look for the FSC on the package. If your cigarettes keep going out on you, welcome to the new law that went into effect here as of July 1/09.

Tax Withholding for Independent Contractors?

Got this in my email inbox today...

You should be worried if you...
(a) live in California AND/OR if you
(b) are an Independent Contractor AND/OR
(c) if you know that "Whatever happens in the 'land of fruits 'n nuts' (that would be CA) gets copied everywhere else"...

Apparently, the California Assembly just passed SB 17 on a majority vote which contains a provision for a 3% withholding tax on independent contractors.

If this bill becomes law, all who contract with IC's will be required to withhold 3% of the monthly check of every IC and remit this amount to the state, just like a payroll withholding tax.

Throughout history, across the country, Independent Contractors have been exempt from withholding taxes because many of their expenses are deductable. Independent Contractors make up a LARGE proportion of small businesses throughout the country. A fair percentage of them are part time contractors, most are family owned businesses. An up front 3% withholding could result in shortages of much needed operating capital that helps keep them running through the year during "down" months. Although they could potentially receive most (if not all) of the 3% tax back after filing year-end returns, the long wait for the return of those funds may force many of them out of business.

This legislation sets a dangerous precedent that other states, and even the Federal Government, could follow.

Beyond the hardship this places on Independent Contractors, and the extra paperwork burden it places on those who hire them, I see this as an attack on the entrepreneurial spirit as well.

Many entrepreneurs will think twice about hanging that "Open for Business" shingle on their lawn and/or posting it on their website. And... I'm guessing... far many more Independent Contractors will think twice about doing business with California firms.

As I recall, it was the small Mom and Pop businesses that helped California stay afloat at one point during their crisis.

This is the thanks they get?

I could be wrong -- but I wonder -- what percentage of those tea party goers are Independent Contractors? Sounds to me like their numbers are about to grow. I'm guessing grassroots instead of green shoots are about to carpet California.

If you are an Independent Contractor in California... or if you hire Independent Contractors for your business... here is the contact info for the CA Governor and Senate President. You might want to contact them to try to stop this freight train from steam rolling its way through your business...

Governor Arnold Schwarzenegger
State Capitol Building
Sacramento, CA 95814
Phone: 916-445-2841
Fax: 916-558-3160

Senate President Pro tem Darrell Steinberg
State Capitol, Room 205
Sacramento, CA 95814

It's your struggle now, California.

It might be our struggle next...

Cap And Trap

Those who know me well, know that I truly believe in respecting the planet, wildlife and our natural resources. When and where possible, I reduce my own "carbon footprint" ...and I'm a strong supporter of the Cub Scout "leave no trace behind" training that I'm happy to see my son learning.

One dear friend used to tease me, saying, "You don't even litter!"

Furthermore, I think CAFOs are NOT farms and should be regulated as the industrial entities that they are, complete with related industrial waste, OSHA and zoning laws. (You want cheap milk, cheese and burgers, go raise your own dang cow and don't force us to pay for your desire to be a cheapskate.)

And I believe there are far more ways all of us can work together to live in sync with nature and create a beautiful, healthier planet in the process.

For this, I've been "labelled" an environmentalist.

Well... I'm firmly against millions of people being forced to screw in billions of mercury-filled bulbs into sockets across the land. I think, quite frankly, it is asinine... regardless how minuscule the amount of mercury is contained in each bulb. And I think the so-called "green" movement is off its rocker for supporting such absurd policies to supposedly "save" power consumption.

The stupidity of the plan, quite frankly, boggles my mind.

I also think coal sequestration is one of the all-out-stupidest ideas I've EVER heard with respect to so-called "clean coal" and that scientists supporting it should be forced to undergo sanity tests if they can actually claim with 100% certainty that it will never turn water into acid years from now. (Yeah, sure. I wonder what the archaeologists of the future are going to think about us when they dig those sites up?)

And even further, I believe power is absolutely necessary to our way of life in this century... that it is needed, new sources need to be created and existing sources should be supported and assisted to become as efficient as they can be -- and that, yes, we should be energy independent -- and that we have (and should use) the resources to make it happen far faster than most people might think.

For this, I've been "labelled" an anti-environmentalist.

Finally, I also think it's positively hypocritical on the part of some countries to posture about reducing green-house gases to benefit the planet when so many other countries are not participating in the same plan. Further, I think the plan is nothing more than a power grab (pun and sarcasm intended) that will not benefit the planet near as much as it will fill certain pockets with bucket-loads of money. And if you choose to look closely at some of those pockets, I'm betting you'll find more than one or two individuals that are some of the worst polluters in the history of this planet.

Which brings me to the "Cap & Trap" legislation moving through Washington.

Don't think the Cap & Trade legislation is a power grab?

Then grab a cup of coffee, sit back, and read this brief article:

"If You Don't Hate the Cap and Trade Bill, Let Me Show You Section 304."

What happened to the Constitution?

Where -- oh where -- shall freedom reign?

Hello Sarah Palin... or Good-Bye?

At 4:00 p.m. EST in front of a small gathering of press, Sarah Palin announced she was stepping down as Governor of Alaska... and that she would not be running in the next election.

Gone for good?

I, for one, hope not and her parting speech leads me to believe this is not an end, but rather, a new beginning...

If I have learned one thing: LIFE is about choices!

And one chooses how to react to circumstances. You can choose to engage in things that tear down, or build up. I choose to work very hard on a path for fruitfulness and productivity. I choose NOT to tear down and waste precious time; but to build UP this state and our country, and her industrious, generous, patriotic, free people!

Life is too short to compromise time and resources... it may be tempting and more comfortable to just keep your head down, plod along, and appease those who demand: "Sit down and shut up", but that's the worthless, easy path; that's a quitter's way out. And a problem in our country today is apathy. It would be apathetic to just hunker down and “go with the flow”.

...Productive, fulfilled people determine where to put their efforts, choosing to wisely utilize precious time... to BUILD UP.

And there is such a need to BUILD up and FIGHT for our state and our country. I choose to FIGHT for it! And I'll work hard for others who still believe in free enterprise and smaller government; strong national security for our country and support for our troops; energy independence; and for those who will protect freedom and equality and LIFE... I'll work for and campaign for those PROUD to be American, and those who are INSPIRED by our ideals and won't deride them.

I WILL support others who seek to serve, in or out of office, for the RIGHT reasons, and I don't care what party they're in or no party at all. Inside Alaska – or Outside Alaska.

But I won't do it from the Governor’s desk. [link to Sarah Palin's website]

IMHO, this has all the appearances of the Democrats acting like the papparazi acted towards Lady Di. Love for Diana grew far and wide, by leaps and bounds, and distaste and dislike for the papparazi grew to staggering heights. The Democratic Party would do well to remember that.

Tea Parties Brewing Again

Some thought they would disappear following most of the mainstream media attacks... but not so fast. July 4th - Independence Day here in the USA - is shaping up to be another show of unity, but this time with a message.

T = Taxed
E = Enough
A = Already

Now, you can look at this new message in several ways, but if you're a political pundit, you're probably noticing two important ingredients to the tea being brewed...

FIRST: the solidification and unification of the message means some marketing savvy is now in play which can spell trouble for any politician. It becomes far more difficult to derail.

SECOND: it's not going away. With a unified message, it now has the potential to turn into a wildfire, building into ever bigger momentum over time. In fact, I dare say, it has the potential to become bigger than ACORN. (Yeah, couldn't resist the jab there.)

Will it rage into ever larger wildfire proportions?

Or will it be snuffed out like a candle in the wind?

We shall see...

Washington is the New Wall Street

On another important story -- in case you missed it -- a very short video on CNBC is worth watching. "The New Wall Street is Washington" is the theme and Rick Santelli is one of three guest speakers discussing the Washington manipulations of the stock market that are interfering with the healing process. Don't miss this video.

It might help you understand how, against all the depressing numbers and facts coming out with respect to the economy, the stock markets can still be moderately coasting along -- when you would think they would have already crashed and burned, right?

Take today, for example...

Bloomburg has 2 stories out.

The first story -- "Banks Falling 23% Since May Foreshadow S&P 500 Slump"

Which is quickly followed by this story -- "U.S. Stocks Rise Following S&P 500’s Best Quarter Since 1998"

Confused?

Watch the brief video clip and you will probably nod your head in agreement on how this could possibly happen.

Personally, I believe they're still playing the "Pump and Dump" game.

Happy Canada Day!

To all my Canadian friends and family, Happy Canada Day!

I hope you are enjoying your extra-long weekend (those of you who get one) and taking time out to celebrate your sovereignty. I'm guessing, the way things are going down here south of your border, you will have more freedoms than we do in the not too distant future. In time, you might become the only model of freedom left. Hang onto it.

(Oh... and ignore those ACORN reps that are crawling all over Ottawa right now trying to mess up your country next. I heard they're desperately trying to find some kind of issue they can use to herd your masses on their path to social unrest. Keep that healthy Canadian skepticism going. You're going to need it!)

Jobless Numbers rise yet Cap and Trade vote still going

The Labor Department reported that the number of U.S. workers filing new claims for jobless benefits unexpectedly rose for the week ended June 20 by 15,000, to 627,000.

Continuing claims -- those drawn by workers for more than one week -- climbed by 29,000 to 6,738,000. Both numbers had fallen the previous week.

While they try to cram through "Cap and Trade" today... if successful, you'll see those jobless numbers climbing at an accelerated pace once the energy prices begin an inflation spiral, IMHO.

Catch up to date on this vote on the floor today:
- A tooth-and-nail fight in House over climate bill

If passed, the bill would represent the most profound government intervention in America’s energy use since Washington began regulating the fuel economy of vehicles in 1975.

- Cap and Trade Facts Every Minnesotan Should Know

Today the U.S. House of Representatives will likely approve one of the most crushing tax increases to American consumers in history – a hidden energy tax called "Cap and Trade."

- Environmental Capital

“Without a resounding House endorsement, I think the Senate is going to view this as too risky to take up in any significant way,” says Bill Durbin, head of carbon research for the consulting firm Wood Mackenzie.

Hmmm... the vote to advance the legislation to the House floor was close -- 217 to 205 -- does that make it "too risky" to take on right now?

Personally, I think it will be another nail in the "economic green shoots" coffin and help propel those jobless figures upward -- not good.

But I'm guessing the Fed has a different take on the rising jobless numbers. They probably still see higher jobless figures as a good thing for the country right now.

Why in the world would I say this?

Well...

According to minutes of a Fed meeting back in 2003, Bernanke cited studies that essentially said the declining dollar doesn't matter, commodities prices don't matter, and "weak labor markets would keep inflation tame."

Speaking of this...

Have you noticed how "cozy" things are getting between the White House and the Federal Reserve? Check this out...

Beyond the grim jobless numbers, I've also heard that there is a serious backlog in mortgage foreclosures. Quote:

During the first quarter of this year, the share of all homeowners seriously delinquent on their mortgage but not yet facing foreclosure more than doubled to 3.04 percent, or about $227 billion in loans. [link to full story]

Back to cap and trade -- House Majority Whip, Rep. James Clyburn (D-S.C.), says "We're getting there."

The question is: Getting where?!??

I'm thinking this will drive a stake into the heart of the Democratic party deeper than any they've already driven in.

There won't be any "dancin' in the streets" over this one in the Midwest. If the Dems keep it up, the only dancin' will be in the dark, in my humble opinion.

Who is running for an Independent or Libertarian seat in Indiana come 2010?

Introduce yourself in the comments here, please.

I have some people that might want to meet you -- if your ethics, values and morals match those we're looking for in a leader to send to Washington.

Inspector General Firing

An important story that should not go away:

Probe launched into suspicious firing of inspector general ...and related story,
Grassley wants more details on fired AmeriCorps IG (possible First Lady involvement?)

Here is a bit of background (YouTube video):



After Obama "smeared" Gerald Walpin (the Inspector General he fired), George had a few things to say about it:



BO's iron fist is completely clasped now. He now takes actions without fear of retribution. By now, he is truly feeling invincible... and the majority who put him in power are reaping the rewards.

Future generations will not pay for his misdeeds. However, they will be awfully busy cleaning up the mess he's making.

My late grandmother was always fond of saying, "What goes around, comes around." She truly believed that God works in mysterious ways... that He restores balance when there is none... and that time will fairly deliver His justice. All we have to do is sit back and wait for it.

Strange.

I haven't thought about her in many years. Some day I'll have to share her story with you. She was an amazing woman.

Tsar Trek and Pump and Dump

Two new unreal reality shows are in motion now ...but they're not reality tv shows ...they're playing out on the Hill and spreading through every nook and cranny of our country.

Enter unreal reality show #1...

Tsar Trek

You remember the intro to those first Star Trek shows?

Well, this new show, "Tsar Trek," goes something like this:

States. --- The final frontier. --- These are the voyages of the U.S. Federal Government.

Its four-year mission; to explore deranged, new ways to control its industry, to shape industry policies and force other businesses to follow their lead, without fear of House or Senate intervention. To boldly go where no Administration has ever gone before.

Ha-ha-ha-ha...

Sorry. I just couldn't resist the above.

I'll bring you more on that unreal reality show in future posts as the drama unfolds.

Ha-ha-ha-ha-ha...

Ahem.

Enter unreal reality show #2...

Pump and Dump

In "Pump and Dump" we have the most extraordinary market interventions ever seen in the history of the stock markets -- not hidden -- but instead, playing out in plain sight.

If you invest in stocks (through a pension plan or directly), this might be the most important article you read today... "Manipulation: How Markets Really Work"

In the article you will learn a little bit about:

• the Working Group on Financial Markets (WGFM), also more commonly and often referred to as the Plunge Protection Team (PPT) which could easily be renamed as the Plunge Protection/Destruction Team (PPDT)
  
• the Exchange Stabilization Fund (ESF)
  
• the Countyparty Risk Management Group (CRMG)

And the curtain is drawn back a wee bit to reveal how other entities interact to intervene (and/or how they are intertwined) ...like the IMF, SEC, CFTC, etc., etc.

Look.

You simply won't find the mainstream media covering the "Pump and Dump" show -- happening LIVE, right now, real time.

Not even Fox News.

You have to remember that Newscorp owns the DJIA, so even Fox News will NOT be able to cover the "pump and dump" show... at least, not transparently.

But you will notice -- people reporting in the financial industry are nervous.

They see "The Visible Hand of Uncle Sam."

Read the article.

Know how "Pump and Dump" works.

That's when other stories start making so much sense... how you can tie seemingly unrelated stories together to get the full picture being painted so carefully -- and strategically -- to suck the wealth out of American citizens as boomers approach retirement age and the boomer echo generation steadfastly marches toward their destiny.

You see... "triggering market collapses can be a very profitable undertaking."

Just as Morgan (J.P. Morgan) understood very well before his death:

Morgan died early that year but profited hugely from the 1907 Panic. It let him expand his steel empire by buying the Tennessee Coal and Iron Company for about $45 million, an asset thought to be worth around $700 million. Today, similar schemes are more than ever common in the wake of the global economic crisis creating opportunities to buy assets cheap by bankers flush with bailout cash. Aided by PPT market rigging, it's simpler than ever.

Goldman Sachs knows it very well, too. As I mentioned in one of my previous posts. If you didn't read the article then, now is a good time.

"Did Goldman Goose Oil? - How Goldman Sachs was at the center of the oil trading fiasco that bankrupted pipeline giant Semgroup."

I wonder who Goldman are gunning for next? It has to be someone key in the great scheme of gas, oil and pipelines as I notice the same play on oil happening these past few weeks as the fiasco that occurred last summer during the primaries.

They're getting ready to do yet another BS hike through market manipulation.

Gotta be careful this time, or they could crush those "green shoots" that the Admin is pretending are signs of economic recovery.

Sheesh. Green shoots, indeed. Where even bad news is good news in the revisionist reporting zones. Who's afraid of the big bad wolf? Watch the news and you will see.

IMHO, the major players pulling the strings on the American economy know full well how to fleece the market to their own ends. They're probably fleecing markets to rake in enough coin to cover their shorts on gold before it cuts loose and skyrockets out of their manipulative control ... heh-heh ...oh, yeah. Like that's not happening, right?

Some funds will do quite well. Others are about to be fleeced. None, in my humble opinion, are safe right now because, quite frankly, I truly believe the worst is yet to come. It's all part of the Big Fat Lie they told us. (You're better off to invest in a slot machine about now. LOL)

But glimmers of truth are coming out.

Let's see how long it takes before the full picture is revealed.

One thing is for certain... we'll probably never know the truth behind the Federal Reserve's actions in all of this, as this Bloomberg story states -- quite clearly.

About Peter G Peterson

What do Barrack Obama and Peter G. Peterson have in common?

One is the President of the USA.

The other is a retired Wall Street "Tycoon" turned philanthropist.

One likes to spend like money grows on trees.

The other likes to spend his money towards his chosen cause, which he claims is to: "focus on America's key fiscal-sustainability challenges."

One likes to talk about fiscal responsibility.

The other likes to take definite steps and precise actions in dealing with fiscal responsibility.

Now, one might think that the second gentleman is being very honorable... In fact, upon reading this quote from a brief article about him in News Week titled, "Why I’m Giving Away $1 Billion," one might think the gentleman is quite honorable, indeed:

For years, I have been saying that the American government, and America itself, has to change its spending and borrowing policies: the tens of trillions of dollars in unfunded entitlements and promises, the dangerous dependence on foreign capital, our pitiful level of savings, the metastasizing health-care costs, our energy gluttony. These structural deficits are unsustainable.

Later on in the same article he expands on this theme:

Underlying these challenges is our broken political system. Our representatives, unlike our Founding Fathers, see politics as a career. As a result, they are focused not on the next generation, but on the next election. When the long-term problems are large and real, they anesthetize us, mislead us, divert us—anything to keep us from giving up something or having to pay for it. Too often, our political leaders are just enablers, co-conspirators in a disingenuous and greedy silence. Our children are unrepresented. The future is unrepresented. The moment is long overdue for us to become moral and worthy ancestors.

Three cheers!! ...and then, some more!!! Right?

Not so fast...

Let's pause and go back to the original question -- what could Barrack Obama and Peter G. Peterson possibly have in common when you look at their seemingly contrasting view points and/or actions?

FIRST, what they both have in common is attendance at a summit to be held this week hosted by Barrack Obama. You can read about it in this article posted to 'A Pakistan News' titled, "Peter G. Peterson Foundation"

SECOND, their agenda's match on one very important issue: entitlements, particularly with respect to health care.

You see, the "unspoken" word is that the honorable gentleman, Mr. Peter G. Peterson, appears to have another agenda quite dear to his philanthropist heart:

"Mr. Peterson has never been shy about using his Wall Street wealth to try to cut Social Security and Medicare, and he recently stepped up his efforts. Last
year he spent $1 billion to endow the Peter G. Peterson Foundation, which seems to have destroying these programs at the top of its agenda." [emphasis added by me]

So now I'm thinking we are about to get an earful on how the so-called "entitlements" for the above two programs are the greatest threat to our financial stability (yeah, even greater than Wall Street bankers, Fannie, Freddie and the too-big-to-fail-lot -- imagine that).

The spin will be -- and is already shaping up to be -- that if we can fix the health care system, we can also fix the entitlement program... two birds -- one stone.

Don't believe me?

Check out this quote from another article over at The Jamestown Sun:

If President Barack Obama sincerely wants to expand health care access with a broad, bipartisan vote, here's how he can do it:

Tackle entitlement spending first.

Hey, I'm all for fiscal responsibility in Government.

In fact, I think this Administration is quickly bankrupting all citizens of this great nation with its outrageous spending policies and expensive agendas.

But when it comes to entitlements in the form of Medicare and Social Security... I have a bone to pick with this Government... indeed, even the honorable gentleman himself.

Correct me if I'm wrong, but isn't Social Security the one thing all working adults and businesses pay into... over a lifetime of working?

Is it your fault -- you the taxpayer -- you the business owner -- your fault that those funds have been so sorely abused, misappropriated, and worse over the years?!

I think not.

In Canada it's called Social Insurance -- and their Government is not allowed to touch those funds for other Government programs. Guess what? They LOWERED the age to file/retire there.

The retirement age there is 55.

Here, in the USA, they are considering raising the age to 67 ...possibly higher.

As for health care... don't make me stand on that soap box again.

It's your insurance industry that needs a thorough cleaning in this country -- top to bottom -- inside and out. They are hammering away at the wealth of this nation every minute of every single day.

Look, it's so easy to find an example of someone discontent and/or misdiagnosed when it comes to health care -- in BOTH countries.

One of our uncle's died just a few short months ago because they "pulled the plug" on him after 4 days. You see, after a certain age in this country, that's it. Your health care system isn't run by the medical community. It's run by your insurance industry. The insurance industry dictates just how much health care you get, when where and how.

For everything you hear about how supposedly-lousy the Canadian health care system is, you probably haven't even heard a word about this important study comparing both health care systems -- the first joint survey of the USA and Canadian health care systems (2004).

My parents, both in their upper 70s, receive phenomenal care in Canada.

The same eye problem I have, my mother had fixed within one week of getting it diagnosed!!! Here in the USA, I'm told it's natural... comes with aging... learn to live with it.

So don't sell me that bill of goods about the poor health care in Canada!

Frankly, I've seen and lived the difference, and the care down here is a far cry from what I used to get... and I used to get it for nothing... now I pay a small fortune!

Ask someone here in the USA how long they wait, if they rely on their insurance, to get any kind of non-life-threatening procedure completed. One acquaintance of ours had to wait 9 months for back surgery here in the USA! My uncle (in Canada) had to wait 3 weeks for a hip replacement. My other uncle had a quadruple bypass 6 years ago -- no waiting -- alive and doing quite well, even for his advanced years, in Canada.

Shucks... I didn't mean to go down this path.

Back on point here.

You're about to get a plethora of propaganda supporting many different agendas for many many different reasons.

Always look beneath the surface, because there are people in this world that don't have your best interests at heart. They have their own agenda, and chances are very high that it won't benefit you in the long term or the short term in my humble opinion based on what I'm hearing and witnessing lately. And lately, it seems to me at least, most of "them" are in politics or from the Wall Street jungle.

Yes... this is just my humble and personal opinion.

But still...

Keep your eyes open...

FDIC Friday Bank Closings Update

Yesterday was FDIC Friday and since it's been awhile, I thought I'd post a new update on bank closings racing across the nation.

In our last update (April ) there were a total of 29...

We are now up to a whopping 36!!

Yesterday, our unofficially nicknamed FDIC Friday, two Illinois banks with combined assets of almost $1 billion were closed, their assets taken over/bought by other banks:

• Strategic Capital Bank in Champaign, and


• Citizens National Bank in Macomb

The above 2 bank failures brings the total bank closings in Illinois to FIVE for this year. Bloomberg reports, "The FDIC estimates the seizures will cost the federal government's deposit insurance fund a combined $279 million."

In an unusual twist, the largest bank closed this month -- namely BankUnited Financial Corp. in Florida -- was closed on a Thursday.

Bloomberg reports:

Regulators are closing banks at the fastest pace in 15 years, including BankUnited Financial Corp. in Florida yesterday, and pumped $200 billion into the biggest banks in a Treasury rescue program. Costs from closing banks in the second quarter climbed to more than $8 billion, including $4.9 billion for BankUnited, from $2.28 billion in the first, FDIC data show. [link]

So, let's update our running "tickertape" on the parade of bank closings:

Total Bank failures in 2005: 0
Total Bank failures in 2006: 0
Total Bank failures in 2007: 3
Total Bank failures in 2008: 25
Total Bank failures (as of May 22) in 2009: 36 BANK CLOSURES!

(As of April 24, 2009, the total was a whopping 29 bank closures... and we thought that was a high number. Whew!!)

Since we are not even half way through the year yet, I'm guessing our total for the year will more than double last year's bank seizures/closings (possibly triple?).

If you are sitting back watching all of this unfold, just as a casual observer, do you see the "glimmers" and "green shoots" of recovery happening here?

Hmmmm... Let's see if we can add a few facts up:

1. Personal incomes fell in March for the fifth time in the past six months. (According to a report on April 30 by the U.S. Commerce Dept.)

2. Bank closures/seizures are at an all time high for the year, not seen since the 1930s.

3. Home prices in 20 major U.S. cities dropped in yet again February. (According to the S&P/Case-Shiller Index.)

4. Another 539,000 jobs were dropped in April, extending the decline to 5.7 million jobs since December 2007. (According to the Labor Department's May 8 report.)

5. On the foreclosure front "April was a Shocker!" Foreclosures in April exceeded even March's blistering pace with a record 342,000 homes receiving notices of default, auction notices or undergoing bank repossessions. (According to a Realty Trac.) But I'm guessing the numbers are higher with the new trend in both commercial and residential real estate -- the increase in deed for mortgage swaps to avoid the foreclosure process. [See this on the subject.]

6. Housing starts and the industry in general remains in a state of near total collapse.

7. As for the "bank stress tests" released this month, some experts are saying "the stress tests will go down in history as the world's most elaborate effort to paint lipstick on a pig." It's a cornucopia of deceit that, once the general public wakes up to the real facts, could demolish the Dems in future elections. [link]

There are 11 more points I could add to this list, but I have to dash.

Got things to do.

On a brighter note, here are some unique ways a few industries and entrepreneurs are adapting to the tough economic climate:

Downsizing is Cool in Farming: Farms downsize with miniature cows

Recycling huge Space is another Gamble Underway: A Casino Rises in the Place of a Steel Giant

Innovative ways to Save Gas: 'Termite' Truck on Cross-Country Journey Burning Wood Chips for Fuel

And even Teens are Finding NEW WAYS to help Clean Up: Here's the scoop on skimming trash from waterways

As always, it won't be our Government who bails us out of the financial quagmire we find ourselves in (in most part, through no fault of our own). It will be the unique thinking and risk taking of individuals... the true strength of America... its awesome and highly creative people!

Let's just hope the Government doesn't try to screw that up, too.