I am sorry to be the bearer of bad tidings, But if I must do anything, I must speak freely and truthfully. America, as we know it, is about to end soon.
Many of us, who have been here and enjoyed what this great nation has offered us, will be aging and dying. We will be leaving a country that will no longer lead anything, invent anything, nor will it be able to sustain anything.
The IMF is already making plans for the day.
China is planning to cut its U.S. reserves by a third.
The Dollar continues its rapid, steady decline.
Unreported secret meetings are drawing up plans to weaken the dollar even faster.
All of this is going on right before our very eyes and what does the NY Times lead with today? A Guantanamo Story. How about the LA Times? Chicago Tribune? Indianapolis Star? What about the one where you live? Check them out here.
What does CNN's website have on its entry page? Take a look. While we are at it, let's look at MSNBC. And just for good measure, let's see what FOX News has to offer.
Now by the time you all look at these there will be changes in the lead story. But just so you know, CNN was headlining the air traffic controller problems. MSNBC featured the Syria story. Only FOX news led their website with the grim news I am writing about.
Folks, we cannot keep borrowing money to give to unions, irresponsible corporations, people who can work but choose not to, and more than anything, illegal aliens who cross our border for no other reason but to misuse our programs. These are programs that we cannot even afford for our own citizens anymore. Why should we continue to dish out for non-taxpaying non-citizens, who have never paid a dime into the system?
The easy route to take is to blame the Dems, who are responsible for the lion's share of this mess right now. They have been the biggest spenders because they have the weakest message of all. Vote for us and we'll take care of you. But the GOP has had a hand in it too, for many different reasons. They say, vote for us and we'll stop this, despite the fact they make deals with the spenders.
In the next election, we are going to have an opportunity to turn this around. Still, I have trouble believing that America will make the right choice because I believe the people are too selfish to understand what may be required of them.
People are looking for an Iacocca, a Reagan, a real someone who will lead this nation out of this mess. They want a fixer. The people cry out for a person who will instantly fix everything and will need to be perfect on every last issue. Well, good luck. That person does not exist. It's going to require more than just some magnetic personality who tells us what is wrong and says all the right things.
We know what is wrong.
The country is being run by a bunch of out of control morons who cannot do basic general math. They cannot understand the most basic of economic theories, and they damned sure have no abstract thinking.... or they would utilize the lessons of history to come to the realization that this course is a deadly course, one that will lead to the largest banana republic on earth. But on the other hand, we have a group of people who want someone who fits their mold of morality, someone who is the "right kind of Christian" who believes everything they believe, right down the line. No one else will be acceptable to them. If they do not get what they want, they will stay home and pout.
Those who want a pastor, look in the phone book for whatever kind you want. That's something you can get in your own community, next weekend, if you like. If you want someone who is intelligent enough to use the best methods to stop this nation from going into more debt, and from declining into a cesspool world like the one we watched in the Mad Max series in the 80s, stop judging a government leader based on social issues alone. We will not have a nation where we can choose to worship freely, if you do not look past the here and now....and what we must implement to get out of this mess.
Social and moral issues are difficult to fight when people are starving to death and crime runs completely rampant, because the Obama World Order wins re-election in 2012. It's more difficult to leave our children and grandchildren a nation they can enjoy the freedoms of, if Obama is allowed to put the hammer down even harder than he already has up to this point. Maybe with some salt and pepper you might find your new I-Pod/Pad/Phone will taste good enough to eat, because that is all you cared about when this warning was going out. That is precisely where we are headed, if these things I called attention to in the beginning of this post are not dealt with soon.
It's time to grow up. It's time to put aside petty arguments about what we perceive a man's character to be or not to be, and look at what he can do to preserve the nation and the freedom we have enjoyed. It's time to listen to reason, time to make some sacrifices along the way to help facilitate this nation's healing. It's time to hear the message and not judge the messenger.
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Monday, April 25, 2011
Friday, March 18, 2011
Sequiter: It Really Does Follow
Did you hear the latest out of Wisconsin? Check these stories out:
Stoughton Trailers To Reopen Plant
Illinois Company Relocating To Wisconsin
It's amazing how business flourishes when unions are not involved in the process.
I know, it's only two businesses out of many. But it is a start and hopefully businesses that went down because the union wouldn't budge can reconsider reopening their doors. And hopefully more businesses will bail out of Illinois where taxes continue to rise, while programs are not cut and unions write their own tickets.
It's not that I wish the people of Illinois any ill will. It's just that I cannot stand states that refuse to look out after their citizens, while bending over backwards for union thugs and every other thug-like special interest group that makes noise.
Stoughton Trailers To Reopen Plant
Stoughton Trailers plans to get back into the business of producing domestic rail containers and truck chassis with up to 300 employees at its closed Evansville plant.
The new product lines also could mean adding jobs at the company's plants in Stoughton and Brodhead.
Illinois Company Relocating To Wisconsin
A border war has broken out as an Illinois company decides to take its business to Wisconsin. Governor Scott Walker made the announcement Thursday morning.
It seems Wisconsin is aggressively trolling for new businesses and new jobs. A cold call from Wisconsin's lieutenant governor started a dialogue. And, from a business perspective, the company's owner says it was an offer too good to pass up.
It's amazing how business flourishes when unions are not involved in the process.
I know, it's only two businesses out of many. But it is a start and hopefully businesses that went down because the union wouldn't budge can reconsider reopening their doors. And hopefully more businesses will bail out of Illinois where taxes continue to rise, while programs are not cut and unions write their own tickets.
It's not that I wish the people of Illinois any ill will. It's just that I cannot stand states that refuse to look out after their citizens, while bending over backwards for union thugs and every other thug-like special interest group that makes noise.
Tuesday, February 22, 2011
The Market For Unions Is Crashing
Unions and their Left-Wing supporters are demonizing the efforts of governors and legislators, whose only offense is they want to make paying union dues voluntary.
The argument being used here is, without unions having the ability to forcibly extract union dues from workers, the result will be a loss of jobs. The argument for implementing this is, it will keep the government solvent and save jobs.
To analyze and evaluate these opposing view points, I think we must look at the law of supply and demand. To properly do this, we must examine the most basic principle of microeconomics. When supply is high and demand is low, we know that prices go down. The opposite is true when demand is high and supply is low.
Labor is something we can use in the equation.
When there are a number of workers in a given area that outnumber the number of jobs available, wages go down. Companies figure that because unemployment is high, workers will work for less. And they will, if the government isn't handing out limitless unemployment benefits.
When there are more jobs available than there are workers available to work, wages go up. Workers have more choices based on this scenario. The reason for this is because, if they do not like their jobs they can usually find others fairly quickly. That's why we see a lot of job-hoppers in a booming economy.
So if we look closely at the union position in these cases, we are being told that by compelling workers to pay union dues, this will magically create more jobs and raise the standard of living in these areas. They make these weak and faulty claims in face of looming layoffs that will most certainly be necessary to accommodate union jobs. These are jobs that the employers are forced to pay for, under the duress.
When there is only so much money in a labor budget, it's all a company or government can use and still remain solvent. You only have X amount of dollars to use and if the unions are demanding more, this means a certain amount of people will need to be let go to accommodate the union workers' and their demands.
When people are let go, the union will often blame the company or government when it is in fact the union that caused it. Pointing fingers is little consolation for the one who lost his/her job. The result is more workers looking for work while there are less jobs for them, thus bringing down wages on the whole.
If states have "right to work" laws on the books, it can be used as a tool to attract more businesses to the state. The more businesses in the state mean more opportunities for workers who are looking for work. When this gets to the point where there are more jobs, very often there will be a bidding war between companies for labor and wages will rise. Companies will also do more to retain good workers who show up every day and give it their all.
The only losers in this scenario are the union leaders who have made themselves rich by using agitation and coercion, as a middleman in all of this. Worker sell their time to companies, so companies can make money. If the company makes money, the workers' jobs are secure--unless a worker misbehaves and is terminated for it.
This serves as incentive to do the job, a worker has been hired to do. But under union domination, we have created an environment where tenure and seniority rules. The man or woman who has the most seniority can and often does get away with things, because they are safe from layoffs and the union makes it much harder for the company to shed the dead weight.
Maybe it's time someone makes a stand against this fraud that unions have created in many workplaces, in America. I certainly believe it's time for union leadership to be on the job market, and experience the frustration that comes with losing a job. My guess is the only thing they will qualify for is a position as a petty street thug, who is hired by a mob boss to shake down store owners for protection money.
The Teamsters are fed up and not going to take it any more. At least that is what they are saying in essence as they oppose what they call Wisconsin Governor Scot Walker’s “job-killing budget.”
"Wisconsin needs three things right now: jobs, jobs and more jobs," said Gegare. "We do not need a budget that destroys jobs and lowers the standard of living for everyone in the state.
"Walker's budget plan is a partisan, job-killing proposal aimed at punishing his political enemies and rewarding his political backers. Walker claims to be the original Tea Party in Wisconsin."
The argument being used here is, without unions having the ability to forcibly extract union dues from workers, the result will be a loss of jobs. The argument for implementing this is, it will keep the government solvent and save jobs.
To analyze and evaluate these opposing view points, I think we must look at the law of supply and demand. To properly do this, we must examine the most basic principle of microeconomics. When supply is high and demand is low, we know that prices go down. The opposite is true when demand is high and supply is low.
Labor is something we can use in the equation.
When there are a number of workers in a given area that outnumber the number of jobs available, wages go down. Companies figure that because unemployment is high, workers will work for less. And they will, if the government isn't handing out limitless unemployment benefits.
When there are more jobs available than there are workers available to work, wages go up. Workers have more choices based on this scenario. The reason for this is because, if they do not like their jobs they can usually find others fairly quickly. That's why we see a lot of job-hoppers in a booming economy.
So if we look closely at the union position in these cases, we are being told that by compelling workers to pay union dues, this will magically create more jobs and raise the standard of living in these areas. They make these weak and faulty claims in face of looming layoffs that will most certainly be necessary to accommodate union jobs. These are jobs that the employers are forced to pay for, under the duress.
When there is only so much money in a labor budget, it's all a company or government can use and still remain solvent. You only have X amount of dollars to use and if the unions are demanding more, this means a certain amount of people will need to be let go to accommodate the union workers' and their demands.
When people are let go, the union will often blame the company or government when it is in fact the union that caused it. Pointing fingers is little consolation for the one who lost his/her job. The result is more workers looking for work while there are less jobs for them, thus bringing down wages on the whole.
If states have "right to work" laws on the books, it can be used as a tool to attract more businesses to the state. The more businesses in the state mean more opportunities for workers who are looking for work. When this gets to the point where there are more jobs, very often there will be a bidding war between companies for labor and wages will rise. Companies will also do more to retain good workers who show up every day and give it their all.
The only losers in this scenario are the union leaders who have made themselves rich by using agitation and coercion, as a middleman in all of this. Worker sell their time to companies, so companies can make money. If the company makes money, the workers' jobs are secure--unless a worker misbehaves and is terminated for it.
This serves as incentive to do the job, a worker has been hired to do. But under union domination, we have created an environment where tenure and seniority rules. The man or woman who has the most seniority can and often does get away with things, because they are safe from layoffs and the union makes it much harder for the company to shed the dead weight.
Maybe it's time someone makes a stand against this fraud that unions have created in many workplaces, in America. I certainly believe it's time for union leadership to be on the job market, and experience the frustration that comes with losing a job. My guess is the only thing they will qualify for is a position as a petty street thug, who is hired by a mob boss to shake down store owners for protection money.
Monday, November 22, 2010
Quantitative Easing Explained
With a hat tip to Greg, here is a funny (but yet sad) little piece of instruction on the Fed. Be patient, almost all emotion has been drained from it; still, the information is still highly rich and enlightening:
What a way to get through to technoids, who live in a virtual world in their parents' basements.
What a way to get through to technoids, who live in a virtual world in their parents' basements.
Friday, October 08, 2010
For Your Personal Edification
We just returned from the mountains and a cabin that had no internet. Thankfully there was satellite TV, so we were not completely shut off from the world. Here are a few of the stories going on right now:
Angle: Sharia Law Existing in Some Parts Of U.S.
Shocking!!!! Not because it exists, but because a politician finally has the guts to stand up and say it publicly.
Oh, she'll get hammered for it. The MSM pacifiers will cry xenophobia, racism, and cultural bigotry. They will tell everyone that she is wrong.
But one word should be enough to convince us that she speaks the truth. That word is Europe.
Jerry Brown's Camp Breaks Out The "W" Word
A businesswoman who makes more money and climbs the ladder of success higher than most men, and she deserves to be called a whore? The feminists should be up in arms over such usage, but they aren't.
Still, the real surprising thing about this story is not that it happened. The intended message was left for a union official who Brown wanted to solicit for support, but someone who had access to that message let it out. I would think that a union official would be a sure thing for a Democrat, but someone fronted him and his people out anyway.
It is beginning to look like a California Democrat is getting desperate. Now that the whole "illegal immigrant who worked for Whitman" thing failed, it's time for gloves off and the fools will now be seen and heard at a louder decibel.
Gallup: 10.1% Unemployment
Interesting. The Labor Department says it's 9.5%.
Personally I think they are both low-balling this. It's impossible to gauge the real unemployment rate, when many people have given up looking and it does not factor into the equation, the people who are underemployed.
But hey, we have turned the corner and things are looking brighter now.
Angle: Sharia Law Existing in Some Parts Of U.S.
U.S. Senate candidate Sharron Angle told a crowd of supporters that the country needs to address a "militant terrorist situation" that has allowed Islamic religious law to take hold in some American cities.
Shocking!!!! Not because it exists, but because a politician finally has the guts to stand up and say it publicly.
Oh, she'll get hammered for it. The MSM pacifiers will cry xenophobia, racism, and cultural bigotry. They will tell everyone that she is wrong.
But one word should be enough to convince us that she speaks the truth. That word is Europe.
Jerry Brown's Camp Breaks Out The "W" Word
A businesswoman who makes more money and climbs the ladder of success higher than most men, and she deserves to be called a whore? The feminists should be up in arms over such usage, but they aren't.
Still, the real surprising thing about this story is not that it happened. The intended message was left for a union official who Brown wanted to solicit for support, but someone who had access to that message let it out. I would think that a union official would be a sure thing for a Democrat, but someone fronted him and his people out anyway.
It is beginning to look like a California Democrat is getting desperate. Now that the whole "illegal immigrant who worked for Whitman" thing failed, it's time for gloves off and the fools will now be seen and heard at a louder decibel.
Gallup: 10.1% Unemployment
Interesting. The Labor Department says it's 9.5%.
Personally I think they are both low-balling this. It's impossible to gauge the real unemployment rate, when many people have given up looking and it does not factor into the equation, the people who are underemployed.
But hey, we have turned the corner and things are looking brighter now.
Friday, August 13, 2010
Deficit?.... What Deficit?
When thugs get attention, they often tend to make utter fools of themselves.
To support this claim, I enter into evidence this video of the AFL-CIO President doing just that:
No economist in the country would say we have a deficit problem?
I think Mr. Trumka is either lying or is not very well informed.
Take this article from the WSJ as my evidence.
The Treasury Department says we have a multi-billion dollar deficit for one month, the WSJ reports it, and this Bozo says it's false. I guess the Treasury Department does not have any economists on staff.
Who knows? Based on what we know about the current Treasury Secretary, he may be right on that one.
To support this claim, I enter into evidence this video of the AFL-CIO President doing just that:
No economist in the country would say we have a deficit problem?
I think Mr. Trumka is either lying or is not very well informed.
Take this article from the WSJ as my evidence.
The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.
Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009.
The Treasury Department says we have a multi-billion dollar deficit for one month, the WSJ reports it, and this Bozo says it's false. I guess the Treasury Department does not have any economists on staff.
Who knows? Based on what we know about the current Treasury Secretary, he may be right on that one.
Wednesday, August 04, 2010
Performance Evaluation
While Obama and the Democrats want to make this election about race, there are more important things to discuss right now. One of those things is how their performance is being measured.
Right now, we find that polls are not favoring their job performances on real issues that affect Americans. For example, the latest USA Today/Gallup poll shows than attitudes on the war in Afghanistan have changed.
It was not a mistake to roust the Taliban. The mistake was thinking that we could convert the masses to a civilized century, where culture did not include the beating and maiming of women. Unless we get a plan to convert the people's brutal thought processes to a more peaceful tone, we are just spinning our wheels now.
Until Pakistan's feet are held to the fire (for not effectively policing the region that harbors the supply line of weapons and fighters), this is going to be a great lesson that the Soviets learned the hard way.
It's not surprising that the report would seek to spin this a little. We cannot help but notice that this is a desperate attempt, if there ever was one. Three whole percentage points when they are this low is not that much of a gap.
The point is simple. If either these numbers listed in this post were significantly higher, it would indicate that Obama and the Democrats were doing a fine job with everything charged to their care. If there was less unemployment, less casualties in Afghanistan, a better strategy for winning it, and a better track record on fiscal responsibility, we would not be having this conversation and might even be discussing things like NFL training camps.
I have always maintained that polls are just polls. They have no real significance until an election is held. But we can also see trends as useful indicators of the real world and what is going on in it. And what we see in the latest rounds is a country on the decline at an alarming rate.
Certainly and surely, it will continue on that downward path if we do not effect a change in November. Do not let up your voices on the important matters. Do not allow those who ruin what is ours, to dictate the narrative in these coming days, because we all know they will become even more desperate.....as they sink even lower.
Right now, we find that polls are not favoring their job performances on real issues that affect Americans. For example, the latest USA Today/Gallup poll shows than attitudes on the war in Afghanistan have changed.
Support for Obama's management of the war fell to 36%, down from 48% in a February poll. Now, a record 43% also say it was a mistake to go to war there after the terrorist attacks in 2001.
It was not a mistake to roust the Taliban. The mistake was thinking that we could convert the masses to a civilized century, where culture did not include the beating and maiming of women. Unless we get a plan to convert the people's brutal thought processes to a more peaceful tone, we are just spinning our wheels now.
Until Pakistan's feet are held to the fire (for not effectively policing the region that harbors the supply line of weapons and fighters), this is going to be a great lesson that the Soviets learned the hard way.
The decline in support contributed to the lowest approval ratings of Obama's presidency. Amid a lengthy recession, more Americans support his handling of the economy (39%) than the war.
It's not surprising that the report would seek to spin this a little. We cannot help but notice that this is a desperate attempt, if there ever was one. Three whole percentage points when they are this low is not that much of a gap.
The point is simple. If either these numbers listed in this post were significantly higher, it would indicate that Obama and the Democrats were doing a fine job with everything charged to their care. If there was less unemployment, less casualties in Afghanistan, a better strategy for winning it, and a better track record on fiscal responsibility, we would not be having this conversation and might even be discussing things like NFL training camps.
I have always maintained that polls are just polls. They have no real significance until an election is held. But we can also see trends as useful indicators of the real world and what is going on in it. And what we see in the latest rounds is a country on the decline at an alarming rate.
Certainly and surely, it will continue on that downward path if we do not effect a change in November. Do not let up your voices on the important matters. Do not allow those who ruin what is ours, to dictate the narrative in these coming days, because we all know they will become even more desperate.....as they sink even lower.
Wednesday, June 23, 2010
Recovery Summer
Strike up the band let the parades begin. It's now officially summer and the Administration is kicking off a huge sales-pitch promotion called Recovery Summer.
I am sure there will be bands, cookouts, celebrations, and parties everywhere..... except in the Gulf Region:
And I doubt there will be a lot of hiring in the new housing industry:
So much for the Recovery Summer....
....and the band played on.
I am sure there will be bands, cookouts, celebrations, and parties everywhere..... except in the Gulf Region:
The oil washing up on the Gulf Coast is threatening to suffocate local businesses. As Katie Couric reports, it could be years before they find out exactly how much the spill is costing these businesses.
And I doubt there will be a lot of hiring in the new housing industry:
Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.
So much for the Recovery Summer....
....and the band played on.
Thursday, March 04, 2010
Taxation Infection
If you visit San Francisco and eat out in a restaurant, you might find a little extra charge on your bill. From the Chicago Tribune comes this story:
I can understand the outrage....to a degree. But let's look at something may not be so apparent to the person who wrote this article.
I have worked in businesses both large and small, over my many years in the workforce. The cost of doing business is the cost of doing business. Whatever cost a business owner or corporation must pay to keep the doors open is part of the overhead, and it always gets passed onto the customer. This includes taxes and fees levied by all levels of government.
In this case, the restaurants in SF are passing this city tax (and it is a tax) to cover the additional cost forced upon them. The only difference is they are not building it into the price of the items on the menu. They are showing it for all to see.
This is why additional taxes on corporations and businesses in a time of recession only creates inflation, which can (and often does) result in more recession. This is why a tax on commerce of any kind, is a tax on the consumer.
Let's look at this in healthcare terms:
Whenever government sticks its nasty snot-dripping noses into our lives, it infects every thing it touches. Whether bacterial or viral, it spreads like wildfire and weakens the system.
Nothing succeeds in the travel industry like a bad idea. The latest hidden mandatory add-on is a "health" charge added to restaurant bills. As far as I know, this scam cropped up first in San Francisco, but you can count on it to spread.
The rationale for this one is to cover the employers' mandatory contribution to the City's "Healthy San Francisco" health-coverage system. The charge actually is levied on employers, but at least some restaurants are adding a few dollars or percentage points to each customer's bill to cover this charge.
The restaurants' excuse for assessing this charge separately is to let customers know how much they're paying for employees' health coverage. That's the same excuse hotels use when they add "resort" or "housekeeping" fees to unsuspecting guests' room bills. It's the same excuse airlines would use to exclude fuel surcharges from their advertised fares if the Department of Transportation would allow them. And it's sheer nonsense. Employees' health insurance is no less of a cost of doing business than rent, property taxes, food costs, security services and all the other inputs businesses require to operate. To single out health care for a separate surcharge is unwarranted.
I can understand the outrage....to a degree. But let's look at something may not be so apparent to the person who wrote this article.
I have worked in businesses both large and small, over my many years in the workforce. The cost of doing business is the cost of doing business. Whatever cost a business owner or corporation must pay to keep the doors open is part of the overhead, and it always gets passed onto the customer. This includes taxes and fees levied by all levels of government.
In this case, the restaurants in SF are passing this city tax (and it is a tax) to cover the additional cost forced upon them. The only difference is they are not building it into the price of the items on the menu. They are showing it for all to see.
This is why additional taxes on corporations and businesses in a time of recession only creates inflation, which can (and often does) result in more recession. This is why a tax on commerce of any kind, is a tax on the consumer.
Let's look at this in healthcare terms:
Whenever government sticks its nasty snot-dripping noses into our lives, it infects every thing it touches. Whether bacterial or viral, it spreads like wildfire and weakens the system.
Thursday, February 18, 2010
Governmental Gait
I want the federal government's power stripped down to as little as necessary, just as much as the next man. But there are times when I think people want to take it just a little too far, too quickly.
This is a prime example.
You have to crawl before you can walk. Baby steps. then big steps. You can't run until you walk.
You cannot bite off too much, too fast. You will not be able to swallow it all and will need to spit it back out.
As long as we move in the right direction and make reasonable efforts to rid ourselves of the dead weight, we can restore that which has been lost for so many years. We must understand that too much shifting can and will over-correct the system..... and can have an overly shocking effect on it.
This act by Rep. Pitts is ridiculous. Maybe it can be revisited some years from now. But until the time is right, we must allow the system to absorb the changes we seek to make initially, or we will get a runoff.
This is a prime example.
South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
You have to crawl before you can walk. Baby steps. then big steps. You can't run until you walk.
You cannot bite off too much, too fast. You will not be able to swallow it all and will need to spit it back out.
As long as we move in the right direction and make reasonable efforts to rid ourselves of the dead weight, we can restore that which has been lost for so many years. We must understand that too much shifting can and will over-correct the system..... and can have an overly shocking effect on it.
This act by Rep. Pitts is ridiculous. Maybe it can be revisited some years from now. But until the time is right, we must allow the system to absorb the changes we seek to make initially, or we will get a runoff.
Tuesday, January 26, 2010
$12,104,000,000,000
That's the number of dollars, the AP is reporting that "we the people" owe, all thanks to these fine clowns in Washington DC. These are they who take our money and spend it at will, on whatever they deem necessary -- whenever they want. (And you can bet there are plenty of expenses like this, at the top of the list.)
If you do not pay your taxes they come after you. You can rest assured they will take the money by force, if necessary.
They will take what you own, sell it, and keep the money. They will arrest you, charge you, try you, convict you, sentence you, fine you , and sometimes incarcerate you for not giving them money to piss away -- like an 18 year old drunken soldier (or sailor) on liberty from boot camp. But even at that, maybe the 18 year old does have some sense about him: Even he knows when he is out of money and he usually stops spending until he gets more.
But let's get back to the number, shall we?
Let's round down this number a little closer (for someone that may not be able to grasp this figure in its entirety). Twelve trillion dollars owed means that every American owes approximately $40,000,000,000. That's forty billion - with a capital "B".
Now, you liberals that still lurk here (and I know you do, because I see you on the Sitemeter), tell us all in simple terms just how you expect this to get paid - swiftly and surely? Don't be shy, don't be reserved. Explain to us poor stupid plebeians just how you think this will get done. We really want to know.
I say this, because we all have calculators and can perform basic skills on them. And when we take the dollars this nation owes and divide it by the number of people that are citizens of this nation, this is the number we get.
The person who cannot work because he/she is ill, handicapped cannot pay anything. Those who are too damned lazy to work can't pay it and wouldn't if they could. Because they believe the system owes it to THEM - instead of our creditors.
Those who are the heart and soul of the workforce in this country cannot pay that much over a hundred lifetimes. They would if they could, because that's the kind of people they are. But they just aren't able and it's quite the fantasy to think they can.
No...that's not who we will need to step up to the plate. Once again, the people that will be forced to pay the bill will be the ones that create jobs in this economy. They won't be able to create many though, because they will be saddled in higher taxes and therefore unable to hire more people to do anything. This means very little innovation, very little investment, and very little growth (if any at all) is about to come our way for the next 20-30 years.
Unless the working people of this great nation can learn to see that the Democratic party is about to crash this nation's future, your children and grandchildren will be destined to live as poorly as the people of Haiti. There will be nothing left of this nation to give to anyone in our lineage, no hope, no nothing. We will have ceded it to China and we will be their workers for paltry sums of money.
Think about this long and hard, before you start falling for more lies like these. The vast majority of promises he made to this nation to get elected, he has broken several times over. Don't fall for more twisted rhetoric that you will likely be hearing tomorrow night, in the State of the Union Address.
If you do not pay your taxes they come after you. You can rest assured they will take the money by force, if necessary.
They will take what you own, sell it, and keep the money. They will arrest you, charge you, try you, convict you, sentence you, fine you , and sometimes incarcerate you for not giving them money to piss away -- like an 18 year old drunken soldier (or sailor) on liberty from boot camp. But even at that, maybe the 18 year old does have some sense about him: Even he knows when he is out of money and he usually stops spending until he gets more.
But let's get back to the number, shall we?
Let's round down this number a little closer (for someone that may not be able to grasp this figure in its entirety). Twelve trillion dollars owed means that every American owes approximately $40,000,000,000. That's forty billion - with a capital "B".
Now, you liberals that still lurk here (and I know you do, because I see you on the Sitemeter), tell us all in simple terms just how you expect this to get paid - swiftly and surely? Don't be shy, don't be reserved. Explain to us poor stupid plebeians just how you think this will get done. We really want to know.
I say this, because we all have calculators and can perform basic skills on them. And when we take the dollars this nation owes and divide it by the number of people that are citizens of this nation, this is the number we get.
The person who cannot work because he/she is ill, handicapped cannot pay anything. Those who are too damned lazy to work can't pay it and wouldn't if they could. Because they believe the system owes it to THEM - instead of our creditors.
Those who are the heart and soul of the workforce in this country cannot pay that much over a hundred lifetimes. They would if they could, because that's the kind of people they are. But they just aren't able and it's quite the fantasy to think they can.
No...that's not who we will need to step up to the plate. Once again, the people that will be forced to pay the bill will be the ones that create jobs in this economy. They won't be able to create many though, because they will be saddled in higher taxes and therefore unable to hire more people to do anything. This means very little innovation, very little investment, and very little growth (if any at all) is about to come our way for the next 20-30 years.
Unless the working people of this great nation can learn to see that the Democratic party is about to crash this nation's future, your children and grandchildren will be destined to live as poorly as the people of Haiti. There will be nothing left of this nation to give to anyone in our lineage, no hope, no nothing. We will have ceded it to China and we will be their workers for paltry sums of money.
Think about this long and hard, before you start falling for more lies like these. The vast majority of promises he made to this nation to get elected, he has broken several times over. Don't fall for more twisted rhetoric that you will likely be hearing tomorrow night, in the State of the Union Address.
Tuesday, December 01, 2009
An Open Letter To Larry Kudlow
Larry wrote this open letter to Tiger Woods. After reading it, I thought I'd write Larry an open letter of my own:
Dear Mr. Kudlow,
Who cares?
Why should we care?
Look, you are one of the top economists of our day. Many of us enjoy reading your well-thought out essays as often as you can churn them out. I know, I do. But please, stop with the silliness.
Speaking strictly personally, I cannot believe that you took the time to write something to and/or about a man who should already be smart enough to know this stuff. I cannot imagine that he does not have advisers who know it and really doubt someone hasn't already told him by now. Whatever compelled you to do such a thing?
Maybe you are asking yourself, "Why does LA I care about what I write?" It's not because I want to tell you what to do, that's for sure. Because you can also be sure that I believe in a strong free press and the freedom to express any opinion despite the validity, or lack thereof.
I just think that a man as brilliant as you are should not be wasting valuable time, money, and ink on a celebrity that has made a certain bed and may now be forced to lay in it. I think your time is much better spent on how the nation is going down into the hole, deeper and deeper by the day.
Maybe you could write something on the current healthcare bill and it's projected ramifications for the next generation or two. How about more on Washington's desire to take over more and more of the responsibilities of the private sector (and drive them into the ground with everything else they get their hands on)? Because we both know that everything, everything, the federal government touches turns into utter garbage.
You made a comparison to the situation with Mark Sanford, the Governor of South Carolina. At what point did a noted scholar such as yourself decide to equate an athlete with an elected official? Help me as I ponder this through, will you?
One man is put into his leadership role by the people. The other just knows how to use a talent God gave him, simply to make a living. (And he does it). A governor owes the people an explanation for what he did with public funds, while being employed by those people. An athlete owes us nothing.
Needless to say sir, you may surmise that I am a bit disappointed. It's not that you need my approval, either. But I think if you take a moment and think about what I have written here, you will plainly see that I whole-heartedly believe that you can do much better than this. There are many, many pressing issues this nation is facing right now and much of it has to do with money. Surely, there is something you can do to help facilitate the arguments that must be made right now.
As for Tiger, he will be fine. Eventually the press will make him cave and he will come clean with things, but only when he feels like it. I really do not care what he does either way, because my life does not live in the balance with this issue. Neither does my children's and grandchildren's future have anything to do with the decisions of Mr. Woods. But they do count when we speak about an out of control Congress, and an Executive Branch -- which has the least amount of private sector experience of any other in my lifetime.
I expect to hear about tawdry stories and the fallout from such things via those who specialize in tabloid media operations. So please understand something, will you? It is that very component that has kept this non-story alive and you have just helped them. Instead of helping us learn more about what you can teach us, you allowed yourself to be pulled into the world of cheap press, far away from the world of the true intelligentsia that you are used to.
Now, please for the love of humanity. Get back to work and help us make some sense of this damned world.
Sincerely,
L A Sunsett
Dear Mr. Kudlow,
Who cares?
Why should we care?
Look, you are one of the top economists of our day. Many of us enjoy reading your well-thought out essays as often as you can churn them out. I know, I do. But please, stop with the silliness.
Speaking strictly personally, I cannot believe that you took the time to write something to and/or about a man who should already be smart enough to know this stuff. I cannot imagine that he does not have advisers who know it and really doubt someone hasn't already told him by now. Whatever compelled you to do such a thing?
Maybe you are asking yourself, "Why does LA I care about what I write?" It's not because I want to tell you what to do, that's for sure. Because you can also be sure that I believe in a strong free press and the freedom to express any opinion despite the validity, or lack thereof.
I just think that a man as brilliant as you are should not be wasting valuable time, money, and ink on a celebrity that has made a certain bed and may now be forced to lay in it. I think your time is much better spent on how the nation is going down into the hole, deeper and deeper by the day.
Maybe you could write something on the current healthcare bill and it's projected ramifications for the next generation or two. How about more on Washington's desire to take over more and more of the responsibilities of the private sector (and drive them into the ground with everything else they get their hands on)? Because we both know that everything, everything, the federal government touches turns into utter garbage.
You made a comparison to the situation with Mark Sanford, the Governor of South Carolina. At what point did a noted scholar such as yourself decide to equate an athlete with an elected official? Help me as I ponder this through, will you?
One man is put into his leadership role by the people. The other just knows how to use a talent God gave him, simply to make a living. (And he does it). A governor owes the people an explanation for what he did with public funds, while being employed by those people. An athlete owes us nothing.
Needless to say sir, you may surmise that I am a bit disappointed. It's not that you need my approval, either. But I think if you take a moment and think about what I have written here, you will plainly see that I whole-heartedly believe that you can do much better than this. There are many, many pressing issues this nation is facing right now and much of it has to do with money. Surely, there is something you can do to help facilitate the arguments that must be made right now.
As for Tiger, he will be fine. Eventually the press will make him cave and he will come clean with things, but only when he feels like it. I really do not care what he does either way, because my life does not live in the balance with this issue. Neither does my children's and grandchildren's future have anything to do with the decisions of Mr. Woods. But they do count when we speak about an out of control Congress, and an Executive Branch -- which has the least amount of private sector experience of any other in my lifetime.
I expect to hear about tawdry stories and the fallout from such things via those who specialize in tabloid media operations. So please understand something, will you? It is that very component that has kept this non-story alive and you have just helped them. Instead of helping us learn more about what you can teach us, you allowed yourself to be pulled into the world of cheap press, far away from the world of the true intelligentsia that you are used to.
Now, please for the love of humanity. Get back to work and help us make some sense of this damned world.
Sincerely,
L A Sunsett
Friday, August 21, 2009
Oil Prices Creeping Up Again
Once again, oil prices are on the rise.
It sure is nice not having an oil man in the White House.
Wouldn't you say?
Oil rose nearly $1 toward $74 a barrel to settle at a 10-month high on Friday as data in the United States promised economic recovery and a potential revival in energy demand.
U.S. crude for October delivery settled up 98 cents at $73.89 per barrel, the highest settle since October 20. London Brent crude for October settled up 86 cents at $74.19.
Crude rose $6.38 over the week, nearly 10 percent, from the $67.51 settle on August 14.
It sure is nice not having an oil man in the White House.
Wouldn't you say?
Thursday, July 23, 2009
GM Sales Down
From CNN comes an interesting, but entirely predictable story.
There's that consumer confidence thing again. Funny how it always seems to show up at a time you least expect it and in a way you don't really want it to.
Get ready, because the people who will answer for this are going to demonize the consumer for not having pride in one's country. They are going to turn to Rush Limbaugh and blame him for Americans secretly wishing for America to fail, so that it looks bad on Obama.
The real truth is quite different.
People know how ineffective and incompetent the government is and they cannot be sure that GM will be around forever. If they do continue to exist, it will be GM run like the VA. When people buy cars, they must assured they will be able to get service. Plainly, it looks like they are not sure about GM.
How's that stimulus working again?
General Motors posted Wednesday a 22 percent global sales drop from a year earlier for the first six months of 2009 amid the economic slowdown and the automaker's slide into bankruptcy.
GM said its global first-half sales, which include brands the automaker is trimming from its lineup, fell 21.8 percent to 3.55 million vehicles. The automaker's sales in the second quarter fell 15.4 percent to 1.94 million vehicles.
There's that consumer confidence thing again. Funny how it always seems to show up at a time you least expect it and in a way you don't really want it to.
Get ready, because the people who will answer for this are going to demonize the consumer for not having pride in one's country. They are going to turn to Rush Limbaugh and blame him for Americans secretly wishing for America to fail, so that it looks bad on Obama.
The real truth is quite different.
People know how ineffective and incompetent the government is and they cannot be sure that GM will be around forever. If they do continue to exist, it will be GM run like the VA. When people buy cars, they must assured they will be able to get service. Plainly, it looks like they are not sure about GM.
How's that stimulus working again?
Monday, July 13, 2009
Recommended Reading
Last week, I was listening to Neal Boortz on the radio and I heard him read a leeter that was written right after the election of Barack Obama. It was written by a Dr. Anne Wortham a sociology professor at Illinois State University. She also happens to be a visiting scholar at Stanford's Hoover Institute. She is a proponent of the teachings of Ayn Rand and it just so happens she is black.
It has been circulated on the net for some time now. But on the chance you haven't read it yet, here it is. Is she right?
___________________________
Part of the reason I think she is right can be determined from the next two stories.
First, there is this story about Obama claiming the stimulus is working.
But is it really working?
Reading this article, one has to wonder where Obama's head is?
Now, you can correct me if I am wrong (and I know you will). But wasn't the stimulus supposed to create new jobs, rather quickly?
I wonder if a similar study was done in Michigan. They, too, were under the impression that the impact would be felt by summer.
____________________________________
Mustang has another great post, you won't want to miss. Check it out here.
It has been circulated on the net for some time now. But on the chance you haven't read it yet, here it is. Is she right?
___________________________
Part of the reason I think she is right can be determined from the next two stories.
First, there is this story about Obama claiming the stimulus is working.
President Barack Obama said his $787 billion stimulus bill “has worked as intended” as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.
“It has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,” Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. “It has delivered $43 billion in tax relief to American working families and business.”
But is it really working?
Reading this article, one has to wonder where Obama's head is?
Unemployment among blacks in New York City has increased much faster than for whites, and the gap appears to be widening at an accelerating pace, new studies of jobless data have found.
While unemployment rose steadily for white New Yorkers from the first quarter of 2008 through the first three months of this year, the number of unemployed blacks in the city rose four times as fast, according to a report to be released on Monday by the city comptroller’s office. By the end of March, there were about 80,000 more unemployed blacks than whites, according to the report, even though there are roughly 1.5 million more whites than blacks here.
Now, you can correct me if I am wrong (and I know you will). But wasn't the stimulus supposed to create new jobs, rather quickly?
So Mr. Obama began a new effort on Monday to show that his stimulus plan was yielding concrete benefits, saying that his administration expects to save or create 600,000 more jobs this summer, as the federal government spends billions to expand care at health centers, spruce up national parks, hire teachers and improve military facilities.
At a meeting with Mr. Obama and the cabinet, Vice President Joseph R. Biden Jr. outlined 10 major initiatives that he said would “build momentum and accelerate job growth” over the next 100 days. After Mr. Biden ticked off a list of programs — including water and waste projects in rural America and rehabilitation of 98 airports and 1,500 highways — the president took aim at his critics.
I wonder if a similar study was done in Michigan. They, too, were under the impression that the impact would be felt by summer.
____________________________________
Mustang has another great post, you won't want to miss. Check it out here.
Thursday, June 25, 2009
An Explanation
I must apologize for my absence during my vacation. My failure to post and visit other blogs can be attributed to a couple of different things. For one thing, I have had some things to do along the way, things that I have not been able to get done while working long hours. The other thing is an issue of blog burnout.
There are only so many ways to say that Obama and Congress are doing a lousy job. There only so many ways I can say the country is heading toward the toilet. Writer's block or whatever you want to call it, it calls for some retreat time and that's what I have been doing.
So instead of quitting altogether like many have before me, I can recognize when it's time to step away for a breather. Doing this can make a big difference in my commitment down the stretch, when it will count the most. Thanks for your understanding.
Meanwhile, here is a piece I found through Boortz on the utility of unions. He links to his source, as he always does . I do believe this is worth a look, because many who keep responding to poll questions on Obama's job approval are not understanding the nature of the damage he is doing, by empowering the unions more. Unions are not good for the economy and once a person with an open mind can read this information, he/she may begin to understand this (or maybe not).
There are only so many ways to say that Obama and Congress are doing a lousy job. There only so many ways I can say the country is heading toward the toilet. Writer's block or whatever you want to call it, it calls for some retreat time and that's what I have been doing.
So instead of quitting altogether like many have before me, I can recognize when it's time to step away for a breather. Doing this can make a big difference in my commitment down the stretch, when it will count the most. Thanks for your understanding.
Meanwhile, here is a piece I found through Boortz on the utility of unions. He links to his source, as he always does . I do believe this is worth a look, because many who keep responding to poll questions on Obama's job approval are not understanding the nature of the damage he is doing, by empowering the unions more. Unions are not good for the economy and once a person with an open mind can read this information, he/she may begin to understand this (or maybe not).
Thursday, June 11, 2009
A Word From Our Sponsor
A Message From Edward Whitacre Jr. The New CEO Of GM, via Bloomberg.
I don't know about you but I would have some concerns here.
I know it's just a car business. Bottom lines are bottom lines, and deals are deals.
Still, I would be hard pressed to find any level of confidence, if a CEO of a healthcare facility would say, "I know nothing about medicine, but am willing to learn". (Let me clarify that I do not necessarily think that a physician must be over a medical institution, in fact most of them are not good businessmen. But that person should have some knowledge of how the business works, having worked in it before, at some level.)
From what we are gathering about CEO Whitacre's time in grade, he has none, nada, zilch in the automobile industry. He will have no other knowledge of the intricate details. With this being the case, maybe someone can enlighten me as to what his real function will be, if that's not it.
I will tell you what I think it means. I think this means he is being hired to cook the books. Far too often in our system, this and political paybacks for previous favors are the real objective with these kinds of appointments.
So here is your new Government Motors CEO, a man who by his own admission knows nothing about the challenge he is about to face. Acts like this will eventually cause the American people to soon realize, they really screwed up when they elected this bunch.
Happy Motoring To All.
“I don’t know anything about cars. A business is a business, and I think I can learn about cars. I’m not that old, and I think the business principles are the same.”
I don't know about you but I would have some concerns here.
I know it's just a car business. Bottom lines are bottom lines, and deals are deals.
Still, I would be hard pressed to find any level of confidence, if a CEO of a healthcare facility would say, "I know nothing about medicine, but am willing to learn". (Let me clarify that I do not necessarily think that a physician must be over a medical institution, in fact most of them are not good businessmen. But that person should have some knowledge of how the business works, having worked in it before, at some level.)
From what we are gathering about CEO Whitacre's time in grade, he has none, nada, zilch in the automobile industry. He will have no other knowledge of the intricate details. With this being the case, maybe someone can enlighten me as to what his real function will be, if that's not it.
I will tell you what I think it means. I think this means he is being hired to cook the books. Far too often in our system, this and political paybacks for previous favors are the real objective with these kinds of appointments.
So here is your new Government Motors CEO, a man who by his own admission knows nothing about the challenge he is about to face. Acts like this will eventually cause the American people to soon realize, they really screwed up when they elected this bunch.
Happy Motoring To All.
Thursday, May 28, 2009
Deja Vu (All Over Again)
Anyone who knows a little about European history may recall that in pre-Mussolini Italy, workers took over factories (by force) and ran them into the ground. Throughout history, workers have proven to not be the best business people. There is much more to running a business than taking orders and counting the money. Workers are workers. They are skilled-unskilled, union-non-union, but they are workers. They are there to work. They own a resource, but are not the entire entity.
This is not to say that worker ownership is always a bad thing. Many times it comes to pass that workers are offered stock options as part of a incentive plan, but that doesn't mean they are in control of day to day operations. There have been successful worker cooperatives, which can be quite problematic to run with so many cooks in the kitchen. The reason it is difficult? As it is in government, direct democracy is a very difficult process. Thus, using this model in the business world can (and does) bog down the decision-making process, which is quite vital to the maintenance and growth of a company.
The 1920s Italian situation was serious, in that the seizures were involuntary and workers were not trained properly to assume control of such an entity. The owners who put up the capital for the company were not compensated for their investments, and were completely cut out of the loop. In addition to all of this, they were demonized as greedy and insensitive to the cause and plight of the Italian workers who toiled in sweat in their plants and shops.
Fast forward to a recent US News and World Report article.
Today, we see much of the same script.
The unsecured investors (workers) are being given preferential treatment over the secured investors (stock and bond holders). Those who invested their money into the company are being cut out of the loop here, while the workers are being given sweat equity. In the interim, the legitimate investors are being demonized as greedy. If this holds true to the form of 1920s Italy, it will only be a few years (maybe even months) before things really tank out in the car industry.
Knowing what we know about the outcome of 1920s Progressive movement, how is it we are letting the same conditions arise unchecked? We see these things, along with a government that wants to print money. This will only result in hyperinflation, like we saw back in the 1920s. It did not buy them out of that mess then, it will not buy us out of this mess today.
I know it's slippery slope, but we've been down that slope before. It would seem that there would be enough people smart enough to see it. I am convinced there are many, many people who do understand this and agree with my claims. But unfortunately, they are not in a position to do much about it. The same held true back then, that is until a man named Mussolini came along and made the trains run on time.
If we do not want this to repeat itself, it would be a good idea to stop this madness now. It would be smart to do it while there is time to reverse this course. Wait too long and it will be too late.
This is not to say that worker ownership is always a bad thing. Many times it comes to pass that workers are offered stock options as part of a incentive plan, but that doesn't mean they are in control of day to day operations. There have been successful worker cooperatives, which can be quite problematic to run with so many cooks in the kitchen. The reason it is difficult? As it is in government, direct democracy is a very difficult process. Thus, using this model in the business world can (and does) bog down the decision-making process, which is quite vital to the maintenance and growth of a company.
The 1920s Italian situation was serious, in that the seizures were involuntary and workers were not trained properly to assume control of such an entity. The owners who put up the capital for the company were not compensated for their investments, and were completely cut out of the loop. In addition to all of this, they were demonized as greedy and insensitive to the cause and plight of the Italian workers who toiled in sweat in their plants and shops.
Fast forward to a recent US News and World Report article.
A government-brokered deal between struggling U.S. automaker Chrysler and Italian automaker Fiat moved another step closer Monday, when United Auto Workers Union negotiators reached an agreement to accept concessions in exchange for what could eventually become majority ownership of Chrysler.
The Wall Street Journal reports, "The United Auto Workers union would eventually own 55% of the stock in a restructured Chrysler LLC under the deal reached by the union and the auto maker." Fiat's stake in Chrysler would be capped at 35 percent, "and the U.S. government and Chrysler's secured lenders together will end up owning 10% of the company once it is reorganized."
Today, we see much of the same script.
The unsecured investors (workers) are being given preferential treatment over the secured investors (stock and bond holders). Those who invested their money into the company are being cut out of the loop here, while the workers are being given sweat equity. In the interim, the legitimate investors are being demonized as greedy. If this holds true to the form of 1920s Italy, it will only be a few years (maybe even months) before things really tank out in the car industry.
Knowing what we know about the outcome of 1920s Progressive movement, how is it we are letting the same conditions arise unchecked? We see these things, along with a government that wants to print money. This will only result in hyperinflation, like we saw back in the 1920s. It did not buy them out of that mess then, it will not buy us out of this mess today.
I know it's slippery slope, but we've been down that slope before. It would seem that there would be enough people smart enough to see it. I am convinced there are many, many people who do understand this and agree with my claims. But unfortunately, they are not in a position to do much about it. The same held true back then, that is until a man named Mussolini came along and made the trains run on time.
If we do not want this to repeat itself, it would be a good idea to stop this madness now. It would be smart to do it while there is time to reverse this course. Wait too long and it will be too late.
Wednesday, May 13, 2009
Shattered Dreams
The American dream almost always involves owning a home. There's nothing wrong with it. I think it's not too unreasonable to expect to have a place a person can call home, if they can afford it.
Some of you may remember this little snippet from the election campaign last year:
That was then, this is now:
And it's not just minorities who are losing their homes. According to Bloomberg, the overall rate has just hit a record for the second straight month.
Now that it has been over 100 days, since the man who was to save the nation from default (and deliver the people from certain disaster) took office, I wonder how many of those people voted for him based on the misconception that they would not lose their home? I wonder, how many people really are better off today than they were in November?
Some of you may remember this little snippet from the election campaign last year:
That was then, this is now:
Minorities gained the most but now have lost the most from a historic homeownership boom that turned to a bust.
The number of Americans who own their homes rose to 69 percent in 2004 from 64 percent in 1994, the fastest growth since just after World War II.
During that recent housing boom, "minorities and immigrants were key parts of the story line," chipping away at long-standing racial and ethnic housing disparities, said Rakesh Kochhar, a researcher with the Pew Hispanic Center.
But as the economic crisis caused homeownership rates to drop back down to 67.8 since 2004, African-Americans and native-born Latinos were the hardest hit, eroding some but not all of the gains they made in the past 15 years, according to a report released Tuesday by the center.
And it's not just minorities who are losing their homes. According to Bloomberg, the overall rate has just hit a record for the second straight month.
Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers.
A total of 342,038 properties received a default or auction notice or were seized last month, RealtyTrac Inc. of Irvine, California, said today in a statement. One in 374 households got a filing, the highest monthly rate since the property data service began issuing such reports in 2005.
“What you’re seeing is the inevitable result of severe job losses,” Nicolas Retsinas, director of housing studies at Harvard University in Cambridge, Massachusetts, said in an interview. “Until we stem the job losses, we can expect to see continuing foreclosures.”
Now that it has been over 100 days, since the man who was to save the nation from default (and deliver the people from certain disaster) took office, I wonder how many of those people voted for him based on the misconception that they would not lose their home? I wonder, how many people really are better off today than they were in November?
Thursday, May 07, 2009
Rational(e) Questions
I don't speak for others here. But I must say, some things really amaze me.
I have had a fair share of discussions lately, with liberals I know. We have discussed the wisdom of borrowing money, to reward insolvency and bad business decisions. But as of yet, no one can intelligently explain why it is good policy to do so.
We have already thrown trillions at every last little thing that met the Democrats' approval and still nothing has happened. Jobs have still been lost. People are still defaulting on loans. Stocks have stopped bleeding for right now, but are nowhere near a bull market.
Well, maybe I shouldn't be given over to such hyperbole, because something has happened.
We have whetted the appetites of financial institutions with the aroma of fresh-cooked corporate welfare. Now we are being told, the banks still need more money despite the whopping sums they have already received.
Nice, isn't it?
I think it's only natural to ask these kinds of questions , ones that center around throwing borrowed money around like it's magic dust. While we are at it, we might want to ask who is monitoring the money, who is providing oversight?
So does this mean that if I see waste or mismanagement of federal dollars, I can report them? Does it mean I can make a citizen's arrest? I doubt the answer to either of these, is yes. These people did not listen to the American citizenry when the debate over these expenditures first arose, why would anyone think they would listen to any of us now?
I have had a fair share of discussions lately, with liberals I know. We have discussed the wisdom of borrowing money, to reward insolvency and bad business decisions. But as of yet, no one can intelligently explain why it is good policy to do so.
We have already thrown trillions at every last little thing that met the Democrats' approval and still nothing has happened. Jobs have still been lost. People are still defaulting on loans. Stocks have stopped bleeding for right now, but are nowhere near a bull market.
Well, maybe I shouldn't be given over to such hyperbole, because something has happened.
We have whetted the appetites of financial institutions with the aroma of fresh-cooked corporate welfare. Now we are being told, the banks still need more money despite the whopping sums they have already received.
Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and GMAC LLC are among the companies judged to need additional capital according to results of regulators’ stress tests on the 19 largest U.S. banks.
Nice, isn't it?
I think it's only natural to ask these kinds of questions , ones that center around throwing borrowed money around like it's magic dust. While we are at it, we might want to ask who is monitoring the money, who is providing oversight?
So just who's tracking that $787 billion in taxpayer money that President Obama and the Democrat-led Congress are doling out? You are. Or you're supposed to be, anyway.
"We are, in essence, deputizing the entire American citizenry to help with the oversight of this program," said Rep. Brad Miller, chairman of the House Committee on Science and Technology's subcommittee on investigations and oversight.
So does this mean that if I see waste or mismanagement of federal dollars, I can report them? Does it mean I can make a citizen's arrest? I doubt the answer to either of these, is yes. These people did not listen to the American citizenry when the debate over these expenditures first arose, why would anyone think they would listen to any of us now?
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