How gullible are we anyway? Do we really believe...
-that our house can appreciate 20 or 30 or 100% a year?
-that a company with negative earnings and no hope for achieving earnings, and whose stock is $100 or $200 or more per share is a good investment?
-that a fund run secretly can achieve returns of 20% a year every year when no one else can?
-that a bank would loan us money to buy a house when we don't have a net worth and only marginal income?
-that our doctor is really up to date and knows all the best practices to attend to our health?
-that Big Pharma, and their ads, are for our best interest?
-that the government is really good at looking out for our middle class best interests?
-that the FDA looks out for us and doesn't have major conflicts of interest with Big Pharma?
-that futures traders are necessary to achieve a true "price discovery"?
-that short sellers of equities help achieve a true "price discovery"?
-that the free market is...FREE?
Monday, December 15, 2008
Thursday, December 11, 2008
Where do personal property rights end?
A local issue...
A bit of background. Tommy Davis of Brownwood, Texas, runs gravel pits, aka rock crushers. He wanted to open one in the above mentioned area in a highly visible location. It was met with stiff resistance from all surrounding neighbors of the property and indeed, an entire community. Reasons for resistance ranged from NIMBY to the threatening of two federally protected species of birds - the black capped vireo and golden cheek warbler.
The TCEQ is the state organization that the permitting request runs through. The community responded by requesting public hearings with the TCEQ on the matter and hundreds of citizens showed for the meeting in support and to voice their concerns. Business owners voiced their concerns about the effects of this operation on the local economy and the tourism industry.
Basically, the TCEQ proved itself a toothless organization...a pretty name, but only a store front with nothing of substance beyond the shallow facade. They contend they can only regulate air quality in this matter and could speak nothing to the raping of the land and the citizens of the area by Tommy Davis and Larry Parham.
The US Fish & Wildlife Service was also contacted in this matter since the two endangered species of birds are documented as present in this area. While there still may be something in the works with the federal agency it appears that they too will turn a deaf ear to the citizens and the endangered species...(if not on this when DO YOU take a stand?)
Personal property rights are sacred, but affecting the lives of those around you also has a bearing in the matter. In this case the toothless, gutless Texas state agency should have found reason to deny Tommy Slick Davis this permit...after all, we all understand the Myth of the Rule of Law.
...begs the question, when do personal property rights end and the rights of a community's begin?TCEQ approves air quality permit
BREAKING NEWS
By WHITNEY WHITE-ASHLEY
The Texas Commission on Environmental Quality (TCEQ) notified concerned residents in Somervell County this week that the executive director completed the technical review of an air quality permit application from Slick Machines.
Staff Writer
news@theglenrosereporter.com
Tommy Davis, who owns Slick Machines, applied for the permit on July 25 in order to open a rock crushing facility on a piece of property owned by Larry Parham, which sits on the Somervell-Erath County line and contains part of Chalk Mountain.
A bit of background. Tommy Davis of Brownwood, Texas, runs gravel pits, aka rock crushers. He wanted to open one in the above mentioned area in a highly visible location. It was met with stiff resistance from all surrounding neighbors of the property and indeed, an entire community. Reasons for resistance ranged from NIMBY to the threatening of two federally protected species of birds - the black capped vireo and golden cheek warbler.
The TCEQ is the state organization that the permitting request runs through. The community responded by requesting public hearings with the TCEQ on the matter and hundreds of citizens showed for the meeting in support and to voice their concerns. Business owners voiced their concerns about the effects of this operation on the local economy and the tourism industry.
Basically, the TCEQ proved itself a toothless organization...a pretty name, but only a store front with nothing of substance beyond the shallow facade. They contend they can only regulate air quality in this matter and could speak nothing to the raping of the land and the citizens of the area by Tommy Davis and Larry Parham.
The US Fish & Wildlife Service was also contacted in this matter since the two endangered species of birds are documented as present in this area. While there still may be something in the works with the federal agency it appears that they too will turn a deaf ear to the citizens and the endangered species...(if not on this when DO YOU take a stand?)
Personal property rights are sacred, but affecting the lives of those around you also has a bearing in the matter. In this case the toothless, gutless Texas state agency should have found reason to deny Tommy Slick Davis this permit...after all, we all understand the Myth of the Rule of Law.
What About Obama's New Deal II?
December 6th, 2008, President-elect Obama gave a partial look into his plans to get the US economy running full throttle again. His plan is basic Keynesian Economic Theory and FDR rehashed, New Deal II, with extensive public works projects proposed. From a NYT's piece on the plan:
Mr. Obama’s remarks showcased his ambition to expand the definition of traditional work programs for the middle class, like infrastructure projects to repair roads and bridges, to include new-era jobs in technology and so-called green jobs that reduce energy use and global warming emissions.On the surface this seems like a good idea, getting the unemployed back to work, but will there be an exit strategy from this taxpayer funded program. Our national deficit is already monumental, add to that continuing war costs, financial sector bailouts and other bailouts to come, and Obama's other campaign promise programs and...where does the debt stop?
This past summer I went to Longhorn Caverns in the Texas Hill Country. A lot of the work and some of the buildings and stairs into the cavern itself were projects of the CCC from the 1930's. These stand as testament to another time of economic trouble and to the men and women that wanted work. Their labor and craftsmanship are evident in the details of one of the buildings there (shown in above photo), as well as the walkways and cavern entrance. I have also stayed in cabins in Oklahoma that were built by the CCC, they were nice, well constructed structures that stand the test of time as well. There is goodness that comes from these programs.
Wall Street has given a nod of approval to the proposal, though I am not quite sure why. The sacred halls of capitalism voting for more government intervention in the economy and more government spending...it just doesn't add up to my expectations for Wall Street mentality. Apparently Wall Streeters are greedy enough they can talk out whichever side of their mouths that they see fit to, as long as profits are to be had.
Another clip from the NYT's piece:
Mr. Obama’s plan, if enacted, would be in part a government-directed industrial policy, with lawmakers and administration officials picking winners and losers among private projects and raining large amounts of taxpayer money on them.I guess that is what troubles me the most..."lawmakers and administration officials picking"...sounds like a recipe for cronyism, corruption and consumption of tax dollars...the new CCC's.
Wednesday, December 10, 2008
Regarding Bailouts of the Auto Makers
I am not sure whether it is a good idea, or a bad one, to bail out the Big Three. It is a complex decision full of uncertainties and unintended consequences whichever decision be made. But my own industry - the one you love to hate - the oil and gas industry has certainly been through its own tough times and our pleadings for mercy fell on mostly deaf ears.
I graduated college in 1982, about the beginning of the end of that boom cycle. Oil price was around $40 per barrel when I entered grad school and was being projected by some to be on its way to $100. I was fortunate getting out when I did, as crude oil prices began sliding along with analysts projection of pricing, and received multiple job offers and didn't have companies renege their offerings. The price of crude oil fell for a few more years until the big layoffs began on the mid 1980's.
Question is, who was crying for the Big Oil's to get bailed out? No one cared, the price of a gallon of gasoline was good for all...all but the oil and gas producers anyway.
In Houston, Texas alone during the 1980's 212,000 jobs ere lost, of which 113,000 were directly tied to the oil and gas extraction business. I have seen numbers as high as 450,000 for total oil jobs lost during the 1980's...not to mention the fall outs in the communities where these jobs existed, the property values, the tax roll numbers, banking...
How did all of this work out in the end? Well, companies did layoff workforce. But the survivors adapted and got stronger. Companies consolidated, innovated and made better business decisions. Out of this downturn came a better industry, one with better technologies to use the budgets they had, and to get more productivity from smaller staffing through technological innovations. And, from support staff up through management and on out into rig hands the industry still compensates its employees well.
So, I don't know if letting the Big Three automakers fail is a good thing or a bad thing ultimately, but they could potentially come out better and more modernized by allowing nature to take its course. And in the end have a competitive industry with highly compensated employees making products that are best in the world.
I graduated college in 1982, about the beginning of the end of that boom cycle. Oil price was around $40 per barrel when I entered grad school and was being projected by some to be on its way to $100. I was fortunate getting out when I did, as crude oil prices began sliding along with analysts projection of pricing, and received multiple job offers and didn't have companies renege their offerings. The price of crude oil fell for a few more years until the big layoffs began on the mid 1980's.
Question is, who was crying for the Big Oil's to get bailed out? No one cared, the price of a gallon of gasoline was good for all...all but the oil and gas producers anyway.
In Houston, Texas alone during the 1980's 212,000 jobs ere lost, of which 113,000 were directly tied to the oil and gas extraction business. I have seen numbers as high as 450,000 for total oil jobs lost during the 1980's...not to mention the fall outs in the communities where these jobs existed, the property values, the tax roll numbers, banking...
How did all of this work out in the end? Well, companies did layoff workforce. But the survivors adapted and got stronger. Companies consolidated, innovated and made better business decisions. Out of this downturn came a better industry, one with better technologies to use the budgets they had, and to get more productivity from smaller staffing through technological innovations. And, from support staff up through management and on out into rig hands the industry still compensates its employees well.
So, I don't know if letting the Big Three automakers fail is a good thing or a bad thing ultimately, but they could potentially come out better and more modernized by allowing nature to take its course. And in the end have a competitive industry with highly compensated employees making products that are best in the world.
Monday, December 8, 2008
Disease Mongering
Perhaps you have heard the term Disease Mongering? It is defined as the, "practice of widening the diagnostic boundaries of illnesses, and promoting public awareness of such, in order to expand the markets for those who sell and deliver treatments, which may include pharmaceutical companies, physicians, and other professional or consumer organizations".
What this means is that we, the general public, are being made the targets of the medical establishment and in particular, Big Pharma. We have a big bull's eye on us saying "we need more medical treatment". It is up to the medical establishment to concoct a few terms for our everyday "conditions", and to expand upon the ones we already have so that they can profit from us and our insurers. Those various aches and pains, tics and quirks, etc, that we used to live with are now "diseases" and we need treatment with artificial pharmaceutical medications under a professionally trained eye...
A 2006 issue of Public Library of Science was dedicated to disease mongering. By my count it contained ten articles covering disease mongering including topics such as the expansion of ADHD, restless legs and erectile dysfunction. No doubt, they are legitimate causes, but the problem lies with the expanding diagnosis of these issues.
An example of expansion of a non-disease as a disease is found in cholesterol levels. Our measured levels of cholesterol, as defined by circulating levels of certain lipoproteins, has changed with time in regards to what is considered normal and high. Medical treatments, usually via a statin drug (HMG CoA Reductase Inhibitor) is the usual course of treatment by the medical establishment and one of the huge profit centers for Big Pharma. Therefore, declaring a certain level of a particular lipoprotein as "good", HDL, or "bad", LDL, and having a medicine (with substantial risk for side effects) that can alter those levels offers incentive and moral hazard to Big Pharma and the medical establishment to amend its recommendation as to what levels of lipoproteins we should all be sporting - despite reams of research to the contrary. Through time, what is considered as healthy levels of HDL and LDL have been changed, and of course, their medications will "fix" us to the current appropriate levels.
A new example of coming expansion in the treatment of psychological disorders was out this week. Here is a clip from one report:
A clip from another report:
What this means is that we, the general public, are being made the targets of the medical establishment and in particular, Big Pharma. We have a big bull's eye on us saying "we need more medical treatment". It is up to the medical establishment to concoct a few terms for our everyday "conditions", and to expand upon the ones we already have so that they can profit from us and our insurers. Those various aches and pains, tics and quirks, etc, that we used to live with are now "diseases" and we need treatment with artificial pharmaceutical medications under a professionally trained eye...
A 2006 issue of Public Library of Science was dedicated to disease mongering. By my count it contained ten articles covering disease mongering including topics such as the expansion of ADHD, restless legs and erectile dysfunction. No doubt, they are legitimate causes, but the problem lies with the expanding diagnosis of these issues.
An example of expansion of a non-disease as a disease is found in cholesterol levels. Our measured levels of cholesterol, as defined by circulating levels of certain lipoproteins, has changed with time in regards to what is considered normal and high. Medical treatments, usually via a statin drug (HMG CoA Reductase Inhibitor) is the usual course of treatment by the medical establishment and one of the huge profit centers for Big Pharma. Therefore, declaring a certain level of a particular lipoprotein as "good", HDL, or "bad", LDL, and having a medicine (with substantial risk for side effects) that can alter those levels offers incentive and moral hazard to Big Pharma and the medical establishment to amend its recommendation as to what levels of lipoproteins we should all be sporting - despite reams of research to the contrary. Through time, what is considered as healthy levels of HDL and LDL have been changed, and of course, their medications will "fix" us to the current appropriate levels.
A new example of coming expansion in the treatment of psychological disorders was out this week. Here is a clip from one report:
A new survey suggests that young adults in the United States have stunningly high rates of psychiatric disorders, such as substance abuse, nicotine addiction, personality disorders or other mental-health conditions.Mental illness is certainly a legitimate illness and one not to be taken lightly, but 50% of college aged people? Having lived through those years I realize that they are a time of change, perhaps moving from one place to another, figuring out who you are out from under your parents wings, increased responsibilities...in other words facing stresses we all must face. So here they seem to be medicalizing and diagnosing mental-health conditions for what we, in the old days, would call Growing Up.
The high rates were found in people ages 18 to 24, whether or not they were college students.
The study, published Monday in the Archives of General Psychiatry, found that one-half of the individuals surveyed met the criteria for a psychiatric disorder but only one-fourth of those had sought treatment.
A clip from another report:
Study co-author Dr. Mark Olfson of Columbia University and New York State Psychiatric Institute called the widespread lack of treatment particularly worrisome. He said it should alert not only "students and parents, but also deans and people who run college mental health services about the need to extend access to treatment.""Widespread lack of treatment" makes the researcher worried. That should be a definite tip-off to disease mongering in those few words. Some of the issues that these researchers are dealing with probably do need some treatment, but some of the issues are part of college life and always have been...for example, partying - aka "substance abuse". Personality disorders are also worrisome to these guys, and not to belittle those with some legitimate manifestation of this disease, but we all have our weird personality traits and nuances, and some of us are not social butterflies loaded with charisma - but we are not all set to erupt into violence if we aren't loaded with pharmaceutical agents to calm us down either. Medical buyer beware, disease mongering is reality, think for yourselves and do not assume the guy with the MD after his name is a god.
Friday, December 5, 2008
The Bailouts, Stimulus Package(s) and Me
I am trying to figure out where I fit in in this economic turbulence. If I believe the prevailing wisdom as to the root causes of this mess, I don't have a part in the blame.
I do not have a mortgage and haven't had one for some years, and even when I did have one I had a substantial equity in my house. It was real equity, not some housing bubble induced froth equity like some people at least thought they had. My equity came from a large down payment out of personal savings and from equity obtained in previous homes I owned for years and years and managed to squeeze, sometimes, small appreciations in value. So, I was not a subprime mortgage holder with no real stake in my homes.
I am not a banker and don't really have a depth of understanding of that business, but I understand debt versus income. If you loan money to people that are living on a thread, and they are buying properties that are appreciating at rates that surpass reality, than you are juggling a time bomb. Banking's answer was to package the mortgages and sell them. Pass the time bomb. Greed and moral hazard packaged pretty for the next guy to handle.
The time bomb exploded and the bailouts began. First, billions to banker and other financial establishment. Much with no strings attached, just money to keep them from failing immediately and keep hope alive. Next, more billions to anyone that can convince the government that they are a bank, but at least this round they were told to "please" lend the money and keep the system alive. We'll see.
And now comes the inevitable stimulus package, and this is where I want to know how I fit in. Numbers for a stimulus package that are being tossed around are HUGE. Five hundred billion to well over One Trillion US Dollars. Stimulus in the form of public works, tax cuts, extended unemployment benefits and such. Where do I fit in Mr. President? The exploded time bomb cost me. My investment accounts are down, substantially down. My cash is earning next to nothing in interest, and my self employment income has taken a nose dive. My property is worth less than it was, even though I have plans to move, it has mental repercussions to me, An American Consumer.
I don't see applying for a public works job. I am self employed, so no extended unemployment. I have faithfully paid my "fair share" in taxes, so I suppose a tax cut could be seen as something for me...but that doesn't have the mental effect of "giving" me anything...that is letting me keep a little more of what was already mine. A tax break isn't going to make me run out and consume.
So, unless you are offering me some cold hard cash like the corporations are getting, I assume I will get left out of this cash grab, and others, probably not of the middle class I reside within, will benefit while I lick my financial wounds having been a victim of friendly fire.
I do not have a mortgage and haven't had one for some years, and even when I did have one I had a substantial equity in my house. It was real equity, not some housing bubble induced froth equity like some people at least thought they had. My equity came from a large down payment out of personal savings and from equity obtained in previous homes I owned for years and years and managed to squeeze, sometimes, small appreciations in value. So, I was not a subprime mortgage holder with no real stake in my homes.
I am not a banker and don't really have a depth of understanding of that business, but I understand debt versus income. If you loan money to people that are living on a thread, and they are buying properties that are appreciating at rates that surpass reality, than you are juggling a time bomb. Banking's answer was to package the mortgages and sell them. Pass the time bomb. Greed and moral hazard packaged pretty for the next guy to handle.
The time bomb exploded and the bailouts began. First, billions to banker and other financial establishment. Much with no strings attached, just money to keep them from failing immediately and keep hope alive. Next, more billions to anyone that can convince the government that they are a bank, but at least this round they were told to "please" lend the money and keep the system alive. We'll see.
And now comes the inevitable stimulus package, and this is where I want to know how I fit in. Numbers for a stimulus package that are being tossed around are HUGE. Five hundred billion to well over One Trillion US Dollars. Stimulus in the form of public works, tax cuts, extended unemployment benefits and such. Where do I fit in Mr. President? The exploded time bomb cost me. My investment accounts are down, substantially down. My cash is earning next to nothing in interest, and my self employment income has taken a nose dive. My property is worth less than it was, even though I have plans to move, it has mental repercussions to me, An American Consumer.
I don't see applying for a public works job. I am self employed, so no extended unemployment. I have faithfully paid my "fair share" in taxes, so I suppose a tax cut could be seen as something for me...but that doesn't have the mental effect of "giving" me anything...that is letting me keep a little more of what was already mine. A tax break isn't going to make me run out and consume.
So, unless you are offering me some cold hard cash like the corporations are getting, I assume I will get left out of this cash grab, and others, probably not of the middle class I reside within, will benefit while I lick my financial wounds having been a victim of friendly fire.
Tuesday, December 2, 2008
Top Ten Lists
Enough with top ten lists. Does anyone really care someone elses opinion about the top ten (insert your own subject here). Apparently they do, so here is my top ten list.
Top Ten List of the Worst Top Ten Lists:
Top Ten List of the Worst Top Ten Lists:
- Best Dressed Actor/Actress- who cares what overpriced clothing a bunch of prima donna's are wearing?
- Worst Dressed Actor/Actress- even less important than number one.
- Best Places to Live - oh come on, who wants to live in some of those places. And, have they ever even considered where I live. I wouldn't trade it for their best places anytime.
- Best Places to Retire - same as above, just hotter and more water. Do all old fogies need to live in the same spot?
- Most Romantic Places to Visit - *yawn*
- Best Fried Foods - heart attack heavens.
- Most Eligible Bachelor/Bachelorette - like we have a shot at them.
- Richest in the World - we love to hate them?
- Highest Paid Athletes - we do love them, but that much worth?
- Hillary Top Ten - OK, I DO LOVE THIS ONE!!!!
They Gave us TARP & TALF
The government force fed the citizens of the US TARP (Troubled Asset Relief Plan) and then TALF (Term-Asset Backed Loan Facility) even though up to 80% of us protested the concept initially.
Who wanted to give money, in the tens of billions of dollars, to corporations that had obviously been managed in such a way as to bring their imminent demise upon themselves. Who wanted to give money to companies or GSE's that had overpaid their top executives for years and years while this web was weaved.
No, they gave us TARP's and TALF's, so far, when really I'd say we got a Taxpayers Unheard in a Representative Democracy...figure it out.
Who wanted to give money, in the tens of billions of dollars, to corporations that had obviously been managed in such a way as to bring their imminent demise upon themselves. Who wanted to give money to companies or GSE's that had overpaid their top executives for years and years while this web was weaved.
No, they gave us TARP's and TALF's, so far, when really I'd say we got a Taxpayers Unheard in a Representative Democracy...figure it out.
Monday, December 1, 2008
Hillary as Secretary of State - Poison for Obama
President Elect Obama sir, I am certainly willing to give you the benefit of the doubt in many matters and be willing to listen and accept ideas that may be counter to my libertarian thinking, but Hillary As Secretary of State? What were you thinking? You just made a deal with the devil.
Have you forgotten who she is and what luggage she has with her? If ethics mean anything to an Obama presidency, and I would think they should based on your campaign rhetoric and based on most peoples assessment of the soon to be gone Bush administration, then why Hillary? Do her qualifications as a backstabber and machinator extraordinaire make her the obvious pick to deal with North Korea and Iran when you attempt to open dialog with them? And what about Bill? He will do you no favors by serving your best interests ahead of his own.
With all due respect, you have made some good choices for other posts, but missed the mark here by a longshot.
Good reading.
Have you forgotten who she is and what luggage she has with her? If ethics mean anything to an Obama presidency, and I would think they should based on your campaign rhetoric and based on most peoples assessment of the soon to be gone Bush administration, then why Hillary? Do her qualifications as a backstabber and machinator extraordinaire make her the obvious pick to deal with North Korea and Iran when you attempt to open dialog with them? And what about Bill? He will do you no favors by serving your best interests ahead of his own.
With all due respect, you have made some good choices for other posts, but missed the mark here by a longshot.
Good reading.
Transcendent moments
Thoreau wrote, in "Walden":
I believe that Thoreau is referring to transcending the normal hum-drum Sheeple thinking that we Americans tend to fall into, and thinking lofty outside-the-box thoughts. But have you every noticed the brief moments that occur upon waking, or upon falling asleep, the Genius that resides within? Those that study such subjects call this the theta state of brain activity. That brief interlude between sleep and wakefulness.
Even without having a proper name for this phenomenon I first became aware and began utilizing these moments during college. After studying long hours for tests, cramming my head full of facts and figures all becoming more muddled with each newly introduced bit, I found if I could capture this moment on waking and spend it with a brief review of my studies it became almost a photographic memory. I could see and picture notes, books and whatever other study materials I had poured through.
Runners, gardeners and those given to meditation also can capture the theta state. Being relaxed and taking part in monotonous and repetitive activities can free the mind from background clutter and let the creativity of the theta state come to the forefront. During these moments one is prone to spontaneous idea generation and pulling together concepts that may be more difficult from the scattered state of thinking we may normally find ourselves in.
Thoreau also writes in "Walden":
...The morning, which is the most memorable season of the day, is the awakening hour. Then there is least somnolence in us; and for an hour, at least, some part of us awakes which slumbers all the rest of the day and night. Little is to be expected of that day, if it can be called a day, to which we are not awakened by our Genius, but by the mechanical nudgings of some servitor, are not awakened by our own newly acquired force and aspirations from within,...
I believe that Thoreau is referring to transcending the normal hum-drum Sheeple thinking that we Americans tend to fall into, and thinking lofty outside-the-box thoughts. But have you every noticed the brief moments that occur upon waking, or upon falling asleep, the Genius that resides within? Those that study such subjects call this the theta state of brain activity. That brief interlude between sleep and wakefulness.
Even without having a proper name for this phenomenon I first became aware and began utilizing these moments during college. After studying long hours for tests, cramming my head full of facts and figures all becoming more muddled with each newly introduced bit, I found if I could capture this moment on waking and spend it with a brief review of my studies it became almost a photographic memory. I could see and picture notes, books and whatever other study materials I had poured through.
Runners, gardeners and those given to meditation also can capture the theta state. Being relaxed and taking part in monotonous and repetitive activities can free the mind from background clutter and let the creativity of the theta state come to the forefront. During these moments one is prone to spontaneous idea generation and pulling together concepts that may be more difficult from the scattered state of thinking we may normally find ourselves in.
Thoreau also writes in "Walden":
The millions are awake enough for physical labor; but only one in a million is awake enough for effective intellectual exertion, only one in a hundred millions to a poetic or divine life. To be awake is to be alive. I have never yet met a man who was quite awake. How could I have looked him in the face?Again, I think Thoreau's meaning of awake is more of a transcendent wakefulness, one that says, "be special, think fresh and lofty things, reach for the skies", and not one of capturing the brief theta moments. But these moments whether from at the edge of sleep or from meditation or other activities can be a great launching pad to catch the notions to be Thoreau's awake.
Tuesday, November 25, 2008
Letter to DC
Dear Congressmen, Treasury Secretary, Fed Chairman,
Could you please, as a part of your bailout package that 80% of us taxpayers opposed, include a line item for reconfiguring the display on all taxpayer calculators. My calculator will only handle up to 1oo million and I believe it would be appropriate at this time to have a calculator that would display numbers at least up to the current budget deficit levels. Therefor, I ask you to please consider calculators for all Americans that could display figures up to One Quadrillion Dollars.
Also, in regards to the reported $7.7 Trillion dollars I see reported in the news that you are considering doling out to "save us"...I hereby request that my portion be forwarded directly to me and I will dole it myself as I see fit. By my calculation (done by hand and not on my under-digited calculator) you may forward me $100,000...this is based upon 7.7 trillion divided by 300 million Americans times the 4 members of my immediate family. We promise to be "Patriotic" and spend a good portion of the funds to stimulate the economy.
Thank you and best of luck with the play money your are generating.
Could you please, as a part of your bailout package that 80% of us taxpayers opposed, include a line item for reconfiguring the display on all taxpayer calculators. My calculator will only handle up to 1oo million and I believe it would be appropriate at this time to have a calculator that would display numbers at least up to the current budget deficit levels. Therefor, I ask you to please consider calculators for all Americans that could display figures up to One Quadrillion Dollars.
Also, in regards to the reported $7.7 Trillion dollars I see reported in the news that you are considering doling out to "save us"...I hereby request that my portion be forwarded directly to me and I will dole it myself as I see fit. By my calculation (done by hand and not on my under-digited calculator) you may forward me $100,000...this is based upon 7.7 trillion divided by 300 million Americans times the 4 members of my immediate family. We promise to be "Patriotic" and spend a good portion of the funds to stimulate the economy.
Thank you and best of luck with the play money your are generating.
Sunday, November 23, 2008
Will Obama Take My Guns?
I am certainly not a rabid gun nut, but I do have a few guns for sport and play. I have a neat Beretta 22 target pistol, a S&W 9mm, a couple of 22 rifles for plinking things and, the gun I am most proud of, an old Winchester Model 12, 12 gauge shotgun my granddad handed down to me. I am fond of having guns around - should I be worried about a President Obama "taking my guns" from me?
The Democratic Party Platform, adopted by Obama, says (emphasis added is mine):
"Firearms
We recognize that the right to bear arms is an important part of the American tradition, and we
will preserve Americans’ Second Amendment right to own and use firearms. We believe that
the right to own firearms is subject to reasonable regulation, but we know that what works in Chicago may not work in Cheyenne. We can work together to enact and enforce commonsense laws and improvements – like closing the gun show loophole, improving our background check system, and reinstating the assault weapons ban, so that guns do not fall into the hands of terrorists or criminals. Acting responsibly and with respect for differing views on this issue, we can both protect the constitutional right to bear arms and keep our communities and our children safe."
So, I think the above sums up what Obama's voting record has consistently said, he is not about taking away the guns of American's but he is not about free and open anything goes gun ownership either.
It looks like we can expect to see legislation "closing the gun show loophole" whereby requiring gun show firearm sales to require participation in the National Instant Criminal Background Check System (NCIS). No big deal really. I bought my Beretta pistol just a few months ago. The time to fill out the papers and have the background check performed was probably less than 10 minutes. I know, we don't want more government intrusion and all, but this NCIS check already happens in every gun store in the US everyday, so expanding it to the gun show isn't a big reach intrusion.
Also, there will quite likely be an attempt to reinstate the assault weapon ban. Some may favor this ban under the thought that, "no one needs that type of gun", "those guns aren't for sport", etc. I think this could be construed as letting the camel get his nose in the tent legislation, possibly leading to further gun control if the outcry isn't imposing enough. Some studies have also indicted that not much difference was noted in crime activity and homicide rates as the result of the assault weapon ban.
It seems I recall that the last time this legislation passed in 1994, it led to the GOP gaining seats in the House and Senate in the next election. So, Obama may think twice about how badly he really wants this ban reinstated versus how badly he wants to hold the majority in Congress. We gun nuts want stand to have our guns taken away...
The Democratic Party Platform, adopted by Obama, says (emphasis added is mine):
"Firearms
We recognize that the right to bear arms is an important part of the American tradition, and we
will preserve Americans’ Second Amendment right to own and use firearms. We believe that
the right to own firearms is subject to reasonable regulation, but we know that what works in Chicago may not work in Cheyenne. We can work together to enact and enforce commonsense laws and improvements – like closing the gun show loophole, improving our background check system, and reinstating the assault weapons ban, so that guns do not fall into the hands of terrorists or criminals. Acting responsibly and with respect for differing views on this issue, we can both protect the constitutional right to bear arms and keep our communities and our children safe."
So, I think the above sums up what Obama's voting record has consistently said, he is not about taking away the guns of American's but he is not about free and open anything goes gun ownership either.
It looks like we can expect to see legislation "closing the gun show loophole" whereby requiring gun show firearm sales to require participation in the National Instant Criminal Background Check System (NCIS). No big deal really. I bought my Beretta pistol just a few months ago. The time to fill out the papers and have the background check performed was probably less than 10 minutes. I know, we don't want more government intrusion and all, but this NCIS check already happens in every gun store in the US everyday, so expanding it to the gun show isn't a big reach intrusion.
Also, there will quite likely be an attempt to reinstate the assault weapon ban. Some may favor this ban under the thought that, "no one needs that type of gun", "those guns aren't for sport", etc. I think this could be construed as letting the camel get his nose in the tent legislation, possibly leading to further gun control if the outcry isn't imposing enough. Some studies have also indicted that not much difference was noted in crime activity and homicide rates as the result of the assault weapon ban.
It seems I recall that the last time this legislation passed in 1994, it led to the GOP gaining seats in the House and Senate in the next election. So, Obama may think twice about how badly he really wants this ban reinstated versus how badly he wants to hold the majority in Congress. We gun nuts want stand to have our guns taken away...
Friday, November 21, 2008
The Crisis Beyond This Crisis
We are all shocked by the cyclonic speed at which the credit crisis sneaked up on us, right? Oh sure, home prices that had skyrocketed were certain to moderate and retrace their gains, no big surprise to anyone but the last buyers of homes on either the left or right coast of the US. But, how come we didn't know that this crisis of credit was coming. The answer is that many did know.
Financial institutions leveraged to the hilt, nontransparent financial instruments such as the CDS's being traded by the trillions of dollars like they were candy, and an American consumer equally in debt coupled with falling asset prices doesn't take a NASA scientist to figure out that trouble is coming. The data was all out there for us to examine and request changes of course, we just chose to ignore the issue. We had to worry about elections, wars and Dancing With the Stars.
What about the next crisis, the one beyond this one? What about Social Security? What about the taxes I have been paying my entire working life that I am mostly convinced I will never get a dime returned.
We pretty much ignore this coming crisis as well...and it will quite likely hit us, and we will be shocked.
In a country still entrenched in wars abroad and an economic crisis at home garnering the attention and dollars to address Social Security for the next couple of years will be tough, but it needs to be done now, or it will be a much larger crisis down the road...when it sneaks up on us.
Interesting reads:
National Center for Policy Analysis
Less Government, Much Less Government
Financial institutions leveraged to the hilt, nontransparent financial instruments such as the CDS's being traded by the trillions of dollars like they were candy, and an American consumer equally in debt coupled with falling asset prices doesn't take a NASA scientist to figure out that trouble is coming. The data was all out there for us to examine and request changes of course, we just chose to ignore the issue. We had to worry about elections, wars and Dancing With the Stars.
What about the next crisis, the one beyond this one? What about Social Security? What about the taxes I have been paying my entire working life that I am mostly convinced I will never get a dime returned.
We pretty much ignore this coming crisis as well...and it will quite likely hit us, and we will be shocked.
This year, 2008, so-called Baby-boom folk (those born 1946 - 1961) are commencing to draw Social Security payments. That alone may raise no alarm. The other fact is a loud alarm - namely, this year expenditures for Medicare hospital insurance exceed cash income.Will Obama have the courage to address this issue, and if so, will he be ruthlessly attacked by the GOP? Probably yes to both.
The year 2011 will see two more dangerous manifestations. The oldest baby-boomers will become Medicare-eligible. Simultaneously the Social Security cash surplus will commence to decline.
The next hit is projected for 2017. Payment of money to recipients, commonly referred to as “benefits,” will exceed income.
Not surprisingly, it won’t take long thereafter before the Medicare Hospital Insurance Trust Fund will run dry - estimated for 2017.
In about 2026 the youngest baby-boom people, by then 65, will become eligible to draw Social Security payments.
But for how long will they or any other beneficiary draw? Five more years. In 2041 the Social Security Trust Fund will be an historical illusion - that is, penniless.
In a country still entrenched in wars abroad and an economic crisis at home garnering the attention and dollars to address Social Security for the next couple of years will be tough, but it needs to be done now, or it will be a much larger crisis down the road...when it sneaks up on us.
Interesting reads:
National Center for Policy Analysis
Less Government, Much Less Government
Thursday, November 20, 2008
Meltdown - Wallstreet and Mainstreet
I was pretty much behind President G. Dubya Bush until Hurricane Katrina ripped into New Orleans. I, like everyone else, kept waiting for a reassuring embrace from our leader. Tell us that it'll be okay, that the problem isn't too big to fix and that people will be cared for. I waited, and I waited. Geezus, ARE YOU GOING TO REASSURE US? My confidence level in the current lame (or is it lame duck?) administration waned from that point on and a critical eye was opened to His past foibles, misstatements and outright untruths.
Now, I wait again. Where the heck are you Mr. President? Mainstreet's 401K's and investment accounts are plummeting. Jobs are falling away as fast. And what has this presidential administration done to assure us? Not much. A few "free market" speeches that fall on deaf ears in the wake of anything but free market governmental actions on Freddie and Fannie and of bailouts of favorite son financial firms deemed "too big to fail". A T.A.R.P. program to get the credit markets going again, but apparently had no conditions listed to the receiving institutions to actually use the money to get us going. So, much of the many billions sits helping no one but the receiving institution.
And Wallstreet is floundering miserably. The Dow Industrial average, the S&P 500 and the other major indices from the US and around the world are tanking. The selling has moved past the capitulation stage of a bear market and into a desparation and panic stage. Some of the large stocks currently looking like their demise is imminent include F, GM, C, CIT to name but a few. Driven to the brink by bad business management, greed and short selling of their stocks by heartless souls that care not about the jobs to be lost or the 401k's wrecked. TARP or not, I am not sure there is hope to save investors confidence at this point.
I believe that the SEC should immediately reinstate the "uptick rule" to help stabilze this ruthless short selling. Further, I would like to see shares that are for sale "short" shown as short shares on Level II quotes, that way I can make a more educated determination as an investor about an equities condition. If many of the shares for sale are short, I may certainly want to rethink whether I want to be a buyer...give us more transparency since hedge funds can operate under the radar as far as transparency goes. Give the little guy a better, more level playing field to participate on.
Now, I wait again. Where the heck are you Mr. President? Mainstreet's 401K's and investment accounts are plummeting. Jobs are falling away as fast. And what has this presidential administration done to assure us? Not much. A few "free market" speeches that fall on deaf ears in the wake of anything but free market governmental actions on Freddie and Fannie and of bailouts of favorite son financial firms deemed "too big to fail". A T.A.R.P. program to get the credit markets going again, but apparently had no conditions listed to the receiving institutions to actually use the money to get us going. So, much of the many billions sits helping no one but the receiving institution.
And Wallstreet is floundering miserably. The Dow Industrial average, the S&P 500 and the other major indices from the US and around the world are tanking. The selling has moved past the capitulation stage of a bear market and into a desparation and panic stage. Some of the large stocks currently looking like their demise is imminent include F, GM, C, CIT to name but a few. Driven to the brink by bad business management, greed and short selling of their stocks by heartless souls that care not about the jobs to be lost or the 401k's wrecked. TARP or not, I am not sure there is hope to save investors confidence at this point.
I believe that the SEC should immediately reinstate the "uptick rule" to help stabilze this ruthless short selling. Further, I would like to see shares that are for sale "short" shown as short shares on Level II quotes, that way I can make a more educated determination as an investor about an equities condition. If many of the shares for sale are short, I may certainly want to rethink whether I want to be a buyer...give us more transparency since hedge funds can operate under the radar as far as transparency goes. Give the little guy a better, more level playing field to participate on.
View From The Center
By almost any metric imaginable I am a moderate. Everything in moderation...eating, drinking, work, play, politics...whatever. I wish more people held this viewpoint, maybe we could work out solutions to life's problems without the wingnut mentality that drives so much of the animosity in the US today.
Anyway, this blog will look at things from mainly a centrist viewpoint...a political moderate...willing to read and consider varying viewpoints, keep an open mind and get to the bottom of where truth lies on varying issues such as health care, politics and the economy.
Anyway, this blog will look at things from mainly a centrist viewpoint...a political moderate...willing to read and consider varying viewpoints, keep an open mind and get to the bottom of where truth lies on varying issues such as health care, politics and the economy.
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