Senator Joe Manchin (D., W.Va.) thanked CNN for its support in the gun-control debate

Video: POLICE Disarming Citizens BY FORCE

Congress leasing costly cars at taxpayer expense

Shame on You, Washington Politicians

My America is land of the free and home of the brave. But this is only in theory. The actual truth is that the bravest folk in our great nation are those who think, read, who are of the middle and lower classes have no insurance or jobs and tend to be in the military. Yes this is the back bone of our great nation and all of the rest seem to be holding on milking other for their ride.

Take for example our politicians. All I can say is “shame on you.” You cannot do the work of the people and tend to only do what is best for your wealthy associates regardless of party affiliation for the simple truth in policy, action, and money there is no distinction between any politicians in Washington. Last I heard Obama was just as bellicose as Dick Cheney and has dropped more bombs from drones than Donald Rumsfeld ever did.

What if any, additional evidence do we need to see that our political system is completely broken? These super committee fools couldn’t even come up with at least $1.2 trillion in deficit cuts over the next decade in a two month period. Meanwhile back at the ranch, the U.S. national debt has passed the $15 trillion dollar mark and we are facing trillion dollar deficits – can you say national financial disaster. Now we are going to have automatically triggered budget cuts of $1.2 trillion in starting in 2013. And we will have to wait and see because mathematically, we may not have even this many in cuts since they include almost $170 million in savings projected to occur as a function of reduced interest cost on our national debt.

Yep folks, shame on them, they are too weak, ductile and fleecy to roll up their sleeves and do some actual work. They are not brave enough to do what needs to be done and should be ashamed since our men and women fighting over seas in wars they did not ask for are the epitome of bravery.

But what can we expect, my America is a nation that gives a single mother more time in federal prison for lying on her food stamp application than anyone involved in the Wall Street mortgage fraud, sub-prime lending or complex paper schemes that help produce Americas and the worlds debt based conundrums. Last week, U.S. District Judge Henry Wingate sentenced Anita McLemore, 47, the mother of two teenage children, to three years in prison. The mother of two pleaded guilty in July to one count of submitting a false claim to the U.S. Department of Agriculture Temporary Assistance and Food Stamps program.

Ms. McLemore, received $4,367 in benefits. This in comparison to six defendants in two related mortgage fraud cases involving fraudulent loans totaling about $5.8 million received sentences ranging from house arrest to 30 months in prison. In addition to the three-year sentence, Wingate fined McLemore $250 and placed her on supervised release for three years after serving her sentence.

These fools obviously do not get it, from Obama to the Congress, they do not have a clue; they cannot see that as a nation, there is a very good chance that we will suffer another major credit downgrade on U.S. debt. And if this happens, a large proportion of the financial transactions that occur worldwide would not be able to happen if that takes place. No one with the exception of Ron Paul (this is a must see video of Dr. Paul in 11/19/11). He would end the Federal Reserve and starts issuing debt-free money, and move to cut our budget deficits. All these folks on TV want to do is fix a broken system, without out acknowledging that it became broke in 1913, prior to the passage of the Federal Reserve Act, the national debt was only about $2.9 billion.

We are in the last days of the Euro and the Union possibly and we are no better as a nation. According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years and last year alone, as a nation we lost an average of 23 manufacturing facilities a day . Data reported by the Economic Policy Institute, notes that our economy loses more than 9000 jobs for every $1 billion of goods that are imported from overseas.

And what do we have to show for it? A dysfunctional Supper Committee, a dysfunctional Congress and a dysfunction White House Administration. I am sorry but shame on all of you Washington, DC politicians. We are suffering, we see the problems, but you don’t and will not listen to us. But why should they? The average net worth for a member of Congress is now approximately 3.8 million dollars and more than 50 percent of the members of the U.S. Congress are millionaires.

Congress has No Job Plan and Obama’s Job Speech: No Substance- No Peace

When I started High School in the tenth grade in Memphis in 1977, my homeroom teacher Dr. Meyer’s was also my economics instructor. Although a public high school, at least a third of my teachers had PhD’s. In his class, according to him I did so well that he suggested I take another economics class as an elective albeit he knew I was concentrating in math and science classes. Thus via a flip of a coin I took microeconomics over macroeconomics. Herein this essay begins, upon a reading of the President’s job speech.

I have come to accept as abstruse as it may seem for some to grasp, that the plausible allure for present day politicians regardless of race, gender and political affiliation, must either be the ability to lie or the scarious inability to see a truth in order to tell it like it is. All because it is clear they do not want to tell us the truth about the nation’s current economic conundrum – that it has taken decades to create this problem, that there is no easy solution out of this mess, or worse that they intentionally vitiate solutions because they have no answers because they have no answers and lack the scrotum to say honestly it will require decades to get out of this mess, that it will be hard and that Americans will have to tolerate difficult times and live within our means to do so.

Telling the truth, no matter how saddening or worrisome lost on politicians even Obama. Not to mention it is difficult for a class of millionaires like Washington, DC politicians the pains economically us regular folks feel. Factually since 1960, there has never been a time in which four straight months of stagnate job growth as we have just seen has never manifested without a recessionary period to follow. Yet politicians on both sides of the aisles quip they have answers and solutions to solve this problem in the immediate future – a bold face lie. They say the recession is over, that we will not experience a double dip recession and that the nation is not in a depression – a bold face lie.

Now as for the President’s speech, it was passionate, but passion and great subject verb agreement does not amount to substance. I disagree with GOP stalwarts who assert a joint session was not the place for such a speech under the auspices it was not an urgent situation. But as I stated prior, for people who are not wealth like most inside the beltway politicians are hurting and the state of the economy is a serious national security issue.

Still with this said, Obama’s speech was more of the same rah rah type. Not that it was bad, but still the same old same old. Only thing missing was a “cash for clunkers” program. Why because it was not specific and talks around what I see and experience as a person under employed who has grown through $300,000 of savings just to keep from losing his home. I guess he knows that in this weak economy his numbers are bad but that the approval for congress is worse. On the ground, those of us without sufficient employment know that things will most likely get worse before they get better and that none of what he proposed even attempts to thwart the impact of the troubles of Europe through its banking and market crisis on the average American citizen, for consumers remain deep in debt and the depression in the housing market has yet to hit bottom.

We in touch and on the ground see the economy is too weak to add enough jobs monthly to even keep up with US population growth. My understanding of microeconomics and math indicates anything less 140,000 jobs a month will only keep adding to the ranks of the unemployed.

The plan had nothing I would consider big or different. He should have [1] offered to implement some sort of profit tax on large corporations that earn more than 20 million annually in profits of around 4 to 6 percent. He should have [2] offered some type of net job creation tax for large and small businesses for about a five year period to serve as an incentive for job creation that would said companies a tax credit that would cover at least a third of their salaries for that time period. He should [3] look at international growth sectors and instituted a re-employment service as opposed to unemployment that focus on industry specific training programs that would prepare the young and poor for skilled jobs.

Nothing in his proposal is punitive. He should have [5] mentioned that the top 100 companies in the US have uprooted around 3 million jobs here in the states over the past decade yet created around 2.5 million jobs overseas. He should have [6] specifically addressed Sarbanes-Oxley regulations and only implement them for corporations making under $200 million annually (I could only imagine the strain and expense on businesses with respect to their legal cost alone to comply).

Lastly, he should [7] reinstate Glass-Stegall, [8] eliminate Dodd-Frank, [9] increase tax rates on short term capital gains for hedge funds for example who create most of the market volatility and lower long term capital gains taxes and lastly – [10] relegalize the sale of marijuana.

This is just what I think, based on what I learned from Dr. Meyer in high school and my subsequent readings since then. It aided me in being able to amass more than $300,000 in investments without the aid of a broker or financial planner; although I have been using it up to stay afloat after my business closed and lost full time employment before then.

Politicians are scared to tell us the truth, do not understand the problem and too busy with the interest of large corporations to really solve or care about us little folk. They are afraid to tell us and won’t tell us the truth, and Obama’s plan is nothing more than the same thing he did the first two years while in office – hum bug.

Neither the congress nor the President can honestly feel what we feel on the ground. They argue about finding funds to provide for simple people who have lost everything due to floods, fires and tornadoes. They do not see that the games they play are not funn for us and look away from the possibility of what has been seen in France, Greece, Italy, Syria, Israel, England and else where in the form of civil disobedience can manifest over here. Nice speech Mr. President. Way to sit on your hands Congress. Just be reminded though – No Substance, No peace. For republiacns and democrats seem to not understand I am human capital not political capital.

Humpty Dumpty Economics

I have come to accept that all the King’s horses and all the King’s men cannot rebuild and grow the US economy with the approaches being considered currently and the inability for adults occupying the political grounds within the beltway to accept the common groundwork that they work for the people, not themselves, corporation or K Street lobbyist. All that has been proposed or ignored, whether by the President or the congress misses the point completely, avoids a historical context for understand and is rooted on feculent assumptions.

For starters we cannot deal with our soverign debt issues until we recognize the need to obviate the massive credit contraction we are expericing.se in point, it is a fact that the top five percent of the people in the US with respect to income account for nearly 40 percent of all US consumer spending. Just imagine if the annual salary of the top one percent is above $700,000, this group includes individuals earning more than $500,000 and up yearly. Coupled with the recent news that no, zero jobs were created in August and the prior months numbers were revised to show lower job creation, it is no way possible for any of the suggestion proffered by the Congress or Obama can work to create jobs without addressing the massive gap in consumption between the rich and poor, in particular if demand (more specifically lack of demand) is why there is minimal job growth. Now there are some who say Obama saved the country from a depression with his stimulus, but in fact it resulted in 2 million jobs vacated from the system, since the money went to the folks who already had money and desired to save it, or it went to those from foreign countries who currently own our debt and subsequently spent that money abroad and not here to create jobs.

Obama’s effort, even if more stimulus is introduced, will not produce any jobs. Likewise, the Republicans, who say they do not desire excessive regulations and want lower taxes, will not create jobs either, if history is any indication of what such policies evince. One reason is because over the past twenty years, household debt grew by more than thirty percent. Namely because of the lack of regulations proposed by the GOP for large corporations and Wall Street especially. Second, growing the economy, by reducing taxes for the top 2 percent while sales and payroll taxes for the masses continue to increase, will mean less money in the pocket of the average American, thus keeping consumer demand as it is or lowering it. Math shows us that US workers fortunate to be employed have increased in productivity, yet compensation and hourly wages have stagnated, not matching this productivity. Why, because just as prior to the great depression as it stands now, the majority of the wealth was in the hands of the top five percent. As Robert Reich notes in his book “Aftershock: the next economy and America’s Future” the top earners in the share of the nation’s total income reached their highest levels in 1928 and 2007 – both two years before major economic depressions. And Yes Virginia, a double dip recession as a kind way to say a depression.

Both Obama and the congress need to accept these facts. Obama needs to recognize big corporations are no longer singularly loyal to the US – they are global and have global interest. Republicans need to understand that deregulation places short-term profit gains over long-term economic. But I doubt if they will, seeing that House Majority Leader Eric Cantor wants to stop rules that regulate deadly mercury emissions and toxic coal ash from power plants suggesting that such regulations kill jobs (he fails to speak of the public health risk and loss of human life). I published a list four years ago that would grow the economy and create jobs, but what do I know, I just study history and do math.

I just wonder why places like India, China and Germany can do what we can’t – grow the economy and create jobs and increase earnings. German economic growth has outpaced the US for the past 15 years. Over the same period they have increased annual pay close to 30 percent while ours has increased almost 6 percent over the past fifteen years. The top 1 percent only takes 11 percent of the nation’s total income. Oh that’s right, they value education more, just as the other countries, and consistently out pace us in math and science aptitude, just as 26 other nations around the world.

Yes Obama has the second worse record to job creation of all US presidents, ranking only above Herbert Hoover. Yes, our attention deficit disorder having republican dominated congress seems to display the inability to comprehend that cutting taxes is not correlated to a decrease in the ratio of revenue to GDP. Not to forget a Treasury secretary who said the US credit rating would never be lowered, we have incompetence all around the nation’s capital.

Our economy suffers because in 2008 the chickens came home to roost – with no regulations, Wall Street, Banks and multi-national corporations were allowed to deal complex papers with unknown values like mortgage backed securities, which gave banks extra capital to enrich themselves by selling the same debt based securities of unknown value around the world. Simply because oligarch, people with great economic power and influence on politicians, republican and democrat equally, make the rules defining American economic policy to benefit themselves and ignore 95 percent of the nation. It not happen stance that The poorest 50% of all Americans now control just 2.5% of all the wealth in this country, or that the wealthiest 1% of all Americans now own over 50% of all the stocks and bonds.

Obama, Congress, Black Folk, the Debt Ceiling and Treasury Certificates

Let me preface this first by saying I am no economist, but I was blessed in the 10^th grade to learn economy from my teacher Dr. Moyer. He was my home room teacher also. Now I attempt to read anywhere from 20 to 30 newspapers around the world to stay somewhat informed on what is going on around me. The reason for so many is due to the fact I trust no single source and have a penchant to form my own conclusion. Although these include top shelf African American outlets including but not limited to Theroot.com, thegriot.com, and even one I write for, Rollinout, they seem to , if at all, write topically about the current debt and deficit debates in a sensational form that lacks a fundamental understanding of economics regardless if Keynesian or Austrian in orientation.

The last I read, the 14^th amendment made it unconstitutional for the United States to default on its debt. Not to mention a statutory limit was put in place in 1917 when congress passed the second liberty Bond act. But one would not pick this mention up from reading most papers. Nor would objectivism ablaqueate factual distinctions often left out in an effort to cover the story.

Sure they mention Moody’s and Standard and Poor’s dropping the nation’s credit rating, yet do not provide any historical perspective. The way I see it, a market evaluation on this issue would have seen the rating on US Treasury Certificates (short term bills issued by the Treasury that are issued at regular intervals with various maturities). Should have happened at least six years ago, especially as we see now how bond ratings before the crash three years ago were not very helpful. I mean as a nation we have been basically insolvent for a long time.

Right now as it stands, democrats and republicans are an embarrassment to folk like me, bread and butter and salt and pepper on eggs in the morning Americans. China is already in the process of downgrading the US' sovereign credit rating regardless of what the Congress does. This because no matter what is done, the fundamental problem is the US' inability to generate wealth and borrowing more is not a solution. Plainly stated, we have no loot or at least limited resources left for economic development. And for our largest debt holders, China, raising the debt limit is good for investors, but bad for China,

Now for the typical American, in particular black folks, we don’t seem to have any interest on the issue other than we just want Obama to win and that the republicans are the bad guys. Other than that we don’t know what this all about, or how it affect us or may in the future, or what the Treasury note has to do with this.

It would help if we knew what a Treasury note or Bill or certificate or bond was, but for most of us – it has nothing to do with them, just as what is going on in Greece, Italy, or Spain. Sad thing is that our publications don’t seem to care or even know how to present or write about the issues in a manner that would motivate people to learn or understand they are definitely affected by all this.

Right now, American big banks like Citigroup and Bank of America are down about 7and it is even worse for banks across the pond. BNP Paribas, Barclays, and Banco Santander are all down 13% or more and Société Générale is down 16%. Just last week the downgrade of Portuguese sovereign debt and renewed concerns that Greece will need about $100 billion by year’s end to remain solvent. Which means Italy could take a hit which will expose all the big US banks due to their over extension via toxic mortgage debts, the value of which continues to fall as the housing market continues to sink. Add to this the fact that many of these American finical house have made massive profits by selling insurance derivatives known as credit default swaps to banks in Europe, we should be able to see the problem: for this is the same activity that dropped AIG to its knees in 2008.

Now all I am saying is that these talks and hardheadness on the side of both Obama and the Congress only hit us little folk. Most of them are millionaires and won’t suffer. We can be certain of fuel, water, and food shortages for no particular amount of time as well as Oil Exporters increasing their cost in an effort to deal with the losses resulting in reduced values of US Treasury Bonds. Not to mention that the value of your dollar will fall even lower and won’t be able to buy as much and that the housing market will take an even bigger hit.

All I am trying to say I guess t is ok to be oblivious and think that what goes on in Italy or anything to do with how politicians attempt to deal with this problem doesn’t impact you. But it does, whether we know it or not.

Video Congress Doesn't Want You to See

MICHAEL ERIC DYSON: Congress May Require Obese People to Sign Up for Weight Watchers

Obama Administration Wants to Give FBI Access to Personal Internet Activity

A recent report in The Washington Post has revealed that the Obama administration is seeking to make it easier for the FBI to collect information on the personal Internet activities of American citizens without the requirement of a search warrant.

The change, if implemented, would give the executive branch and the FBI increased powers by forcing companies to provide upon request, the records of any individual’s Internet activity without being required to obtain a court order.

According to the Post, the Obama administration will be able to provide information to the FBI if they feel it is important and pertinent to a "terrorism or intelligence investigation." Merely by inserting the words "electronic communication transactional records" to a list of materials that current laws state that the FBI may request without the approval of a judge. This includes personal user Internet web browser activity and the addresses to which an individual sends e-mail. More important is that the request would be secretly obtained and withheld from the individual user.

Unknown to many is that according to government sources, many Internet and e-mail services already provide the government with such data. During his campaign, Obama ran on many issues, including enhancing individual civil liberties. However, this effort may lead to an erosion of individual rights and privacy. In 2007, a published report by the Inspector General’s office revealed that the FBI might have incurred many violations in requesting such data — including the solicitation of information without having an approved investigation to justify the request.

Warrantless surveillance programs are unconstitutional, yet the current administration, following where former President George W. Bush left off, argues that such information is the same or equal to telephone toll billing records, which the FBI can obtain without court authorization. This means that finding out who a person sends an e-mail to or a Facebook friend request is the same as a telephone call.

It would seem as a constitutional law scholar, Obama would understand that the First Amendment protects the personal association information of a citizen.

The question is how this might impact future government legislation. On March 4, 2010, the “Enemy Belligerent Interrogation, Detention, and Prosecution Act of 2010” was introduced by John McCain. This bill, if passed, would eliminate several constitutional protections allowing government to arbitrarily pick up Americans on mere suspicion — with no probable cause. Not to mention, in May of this year, the president gave a speech in which he asked Congress to pass legislation to give the president, power to detain any person in the U.S. that the government deems a “combatant” or likely to engage in a violent act in the future.

How far does the government plan to go invade the private lives of its citizens under the guise of national security? We will have to wait and see, for it seems to reflect what Huxley predicted would happen in a A recent report in The Washington Post has revealed that the Obama administration is seeking to make it easier for the FBI to collect information on the personal Internet activities of American citizens without the requirement of a search warrant.

The change, if implemented, would give the executive branch and the FBI increased powers by forcing companies to provide upon request, the records of any individual’s Internet activity without being required to obtain a court order.

According to the Post, the Obama administration will be able to provide information to the FBI if they feel it is important and pertinent to a "terrorism or intelligence investigation." Merely by inserting the words "electronic communication transactional records" to a list of materials that current laws state that the FBI may request without the approval of a judge. This includes personal user Internet web browser activity and the addresses to which an individual sends e-mail. More important is that the request would be secretly obtained and withheld from the individual user.

Unknown to many is that according to government sources, many Internet and e-mail services already provide the government with such data. During his campaign, Obama ran on many issues, including enhancing individual civil liberties. However, this effort may lead to an erosion of individual rights and privacy. In 2007, a published report by the Inspector General’s office revealed that the FBI might have incurred many violations in requesting such data — including the solicitation of information without having an approved investigation to justify the request.

Warrantless surveillance programs are unconstitutional, yet the current administration, following where former President George W. Bush left off, argues that such information is the same or equal to telephone toll billing records, which the FBI can obtain without court authorization. This means that finding out who a person sends an e-mail to or a Facebook friend request is the same as a telephone call.

It would seem as a constitutional law scholar, Obama would understand that the First Amendment protects the personal association information of a citizen.

The question is how this might impact future government legislation. On March 4, 2010, the “Enemy Belligerent Interrogation, Detention, and Prosecution Act of 2010” was introduced by John McCain. This bill, if passed, would eliminate several constitutional protections allowing government to arbitrarily pick up Americans on mere suspicion — with no probable cause. Not to mention, in May of this year, the president gave a speech in which he asked Congress to pass legislation to give the president, power to detain any person in the U.S. that the government deems a “combatant” or likely to engage in a violent act in the future.

How far does the government plan to go invade the private lives of its citizens under the guise of national security? We will have to wait and see, for it seems to reflect what Huxley predicted would happen in a totalitarian society in his book Brave New World. society in his book Brave New World.

Americas REAL 2 party system

I have come to the conclusion that there are just two parties in America – Wall Street and Washington government. And as such, they are vying like two wrestlers for the world championship belt of complete economic control and domination. I mean unlike us, they are elitist that really want to run the world, I saw this with the bailout. But it has been made clearer with the proposed Health care debate.

It is apparent that Obama nor the members of the House have no clue of what they are talking about with respect to health care reform or even to what is in the bill that has been proposed on behalf of the current administration - even the President himself. From what I have read and heard, none of the talking heads on the media or the political class have no inkling of understanding regarding the nature and extent of the problem.

There is no real focus on the evaluation of how insurance companies make their money. This essential if they attempt to solve the most basic health care concerns of average Americans. Truth be told, we really don’t need any government healthcare. Instead, we need more regulation, both with respect to how insurance bodies operate, redacting the negative impact of capitated health care. And the FDA and drug pricing and development issues. Medicaid, Medicare and social security is broke and it is hard for me to believe that the government or Wall Street have the metal let alone intellectual prowess to run 1/7th of our economy.

See, the way insurance companies work, is by spreading risk. On one end, they have the capacity to add new individuals to purchase new policies and on the other, they can just refuse to insure, or drop people because they feel they are two expensive (usually the elderly, the poor, minorities or folks with Diabetes, Cancer of AIDS). If this as well as the fact that MBAs instead of Physicians and scientist run health care is not discussed, it is no way to get any change instituted. Thus I can see why may expect that the government, if they ran health care, would be no Different than Wall street; they too would ration health care, as they do now, when folks are elderly and most likely in the last years of their life as is the practice now.

Congressmen, who took millions from these Wall Street banks, are the same ones who are asked to solve, develop and vote on issues of health care reform. Real reform would be to regulate what is already out there and institute practical changes that actually focus on the individual instead of the bottom line and profit margin. Neither politicians nor Wall Street will ever look at this from a profit versus non-profit perspective because doing such would be pragmatic. The reality is that insurance companies are run by Wall Street via hedge funds and the government by tax payers who are hedged upon. When long ago, health care operated very cost effectively when run at the state level by not for profit health care vehicles controlled by physicians.

I’m certain we all have heard directly from our physicians words that make no sense. I mean doctors will tell you if you ask, that what “treatment that you may get, will be based on what the insurance company will say.” This is the American way. I feel the debate should be reframed. First for folks to talk about health care reform or even universal health care and they are insured is disingenuous and merely show and tell time. Especially politicians who will have their health care paid by folk like me for the rest of their life. Health care way better than what I or any one who reads this would get.

So don’t get excited if we don’t change again. For the real American two party system involve Wall Street and Washington Government. And we can’t regulate either.

the midas touch

Extra extra, read all about it, these mutha fuckas want to pass a 150$ billion economic emergency rescue bill with the quickness. At least, this is what I have been able to ascertain thus far based on what Mr. President, Mrs. Speaker of the House and Treasury Secretary Henry Paulson (yes Virginia, the Treasury Secretary has a name) have stated on the record.

This loot is supposed to serve as an economic stimulus to jump started the already stagnant economy (which I wrote about a few weeks ago) with roughly 66% allocated for tax breaks for individuals ($880 for individuals and $1600 for families) and a significant proportion of the remanding one-third to businesses given it also includes some additional but narrow support for unemployment benefits and food stamps for the poor.

I just wonder why they could not see all this shit approaching? A perspicacious person would have seen the possibility of such. Ronald Reagan started all this mess some 30 years ago. The California cowboy Actor as President Jones put in place policies that reduced the Feds typical role of providing government safe guards for the general public. Namely, protective acts that dealt wit such public concerns like water and food quality/safety and the safety of pharmaceutical drugs.

But it wasn’t all on him. Let us not overlook former (getting some head) President Bill Clinton made what Regan did even worse. It was Clinton who repealed the Glass-Steagall Act (which historically kept banking and Investment houses separate). By this act alone, he made the financial industry like Wal-Mart – one stop shopping. The act was put into lace after the Crash of 1929 (Black Tuesday) and the great depression since both were mostly caused by "improper banking activity or what was considered overzealous commercial bank involvement in stock market investment."

Under his watch, Congress passed the Private Security Litigation Reform Act (H.R. 1058). This is why it is difficult to prosecute, prove and to convict K-Street supporting crooks of security Fraud anymore. It also led to a new dawn in American business by creating an environment ripe for the Tyco’s, Enron’s, and Ken Lay’s to doctor books, profits and stuff their pockets while companies folded, went bankrupt and millions of investors taking all of the losses. I could continue and link this with the present environment of sub prime mortgage lending but such is self-explanatory.

I do not know what they are trying to do. To me what is being proposed and implemented inclusive of the Federal Reserve Bank dropping the over night lending rate to 3.5% don’t do anything. Sure in the short term, it’s like holding pressure on an open ax wound. But like an ax wound, the bleeding may stop, but the person still requires major surgery and may even still get gangrene.

For the general public, the 3.5% cut means that the prime rate will drop to an equal amount to 6.5%. So one may see this if they have credit cards since most folks have variable interest rate credit cards.

So again, this is nothing new. We have set ourselves up for this with Lame leadership including the Bush’s, Bill Clinton and Reagan. I mean am I stupid? Why would going into debt an additional $150 billion help the economy while we are approaching spending 500 billion on Iraq alone? Then we really don’t know the true impact of the sub prime mortgage hustle because there is no way to determine what banks portfolio’s are really worth, or how much lot they have really lost – at least the way I figure. Add to that this past week, interest rates of short-term treasury bonds (6-month) dropped to their lowest rate since 2004 and companies like Delta and United (although the are airlines) reported last quarter losses of 50 and 53 million dollars accordingly. So please tell me if I am wrong, before I transfer 12-15% of my portfolio into gold ingots.

500 billion and 4 what

Yo, this may be my last semi-serious post until ex post facto Christmas. I mean, I will post one Friday before my birthday on the 22 of December but that will be merely shameless self-promotion. Been spending the most of the past two days trying to disect the 3500 plus pages of the Omnibus Appropriations Bill approved by the House yesterday. They tell me that it weighs 35 lbs but I wouldn't know since I have been reading it online.

I am not counting all of the pork, or earmarks inserted into the bill, just looking for the outrageous stuff they use my tax dollars for. But I have been told hat there are about 9,000 with about 115 worth about $117 million. This tells met that the majority of the members of both Houses aint even read the bill to know what they spending my loot on. And frankly that pisses me off.

I did see that Senator Hillary Clinton took care of some of her folks. One of the recipients was the National Center on Education and the Economy for 2.6 million bills, which is to be awarded within 30 days of enactment of the measure. These folks have contributed heavily to her campaign. The organization is run by Marc Tucker, a long time Clinton supporter. That is a lot of lot for a $4,600.00 campaign donation, which happens to be the maximum. The bill also included a 3.5 percent raise for members of both Houses (excuse me white-collar federal employees).

Other items I saw included $201,000 used to “clean and green” vacant land in Philadelphia to one million for “Bush Creek Beautification.” It also allocates 600,000 for Christopher Columbus fellowship foundation what ever that is. But most of the Earmarks are what they call ‘Air-Dropped’ Earmarks' - about 300 of them, meaning that they were added at the last minute s if they were dropped out of thin air.

I'm not quite finish yet, I mean its some real boring shit to read and I don't have government-speak down tight yet. But best believe if your folk find something else, i'm gone let yawl know.