A Ten Hour Glorified Lunch

Today, the three leaders of North America: President Barack Obama, President Enrique Peña Nieto of Mexico and Prime Minister Stephen Harper of Canada, meet in Mexico to supposedly discuss issues of trade between the three nations.  This on the 20-year anniversary of the North American Free Trade Agreement, commonly known as (NAFTA), which was signed into law by Bill Clinton in January  of 1994.

Before the meeting, it could have easily been guessed that the agendas of each leader were similar yet different.  I am certain Obama wanted to discuss security and immigration, and that Mr. Harper wanted to discuss the Keystone pipeline to take Canadian oil to the Gulf of Mexico, and that President Enrique Peña Nieto wanted to discuss immigration. But I also suspect that all wanted to get down to the nitty gritty with respect to the on the proposed trade agreement known as the Trans-Pacific Partnership.

The concern the average thinking American should ask is why is the US involved in another far reaching, sovereignty reducing trade pact that will supersede constitutional parameters that benefit the people over large, and in many cases foreign corporations? Although some purport the divinity of NAFTA, what we do know is that it was responsible for more than a million jobs leaving America for Mexico by incentivizing U.S. manufacturers to move production to lower-cost Mexico and that through Chapter 11 of the agreement, allows corporations or individuals of foreign governments to be placed on the same footing as Americans. As a consequence, many of the manufacturing jobs that once used to be in states like Michigan left and consequently, allowed companies that did stay in America to suppress wages of workers. So regardless of all the good it was supposed to do, what America really got was massive unemployment  and a massive U.S. trade deficit especially in the manufacturing sector with respect to Mexico of about  $100 billion which is still growing.

What President Obama should have mentioned was the concern with the criminal justice system in Mexico and the problems of violence perpetrated by the numerous drug cartels in the region, but he didn’t?  He should have discussed openly, that he wants the Keystone pipeline, but it would be hypocritical for him to do such given the oil from the Canadian Tar Sands would produce more of what he calls “carbon pollutants” and because much of the oil will not be used in the U.S. but rather sold and shipped abroad.  And lord knows Obama didn’t want to go on the record saying he supported foreign corporations like Trans-Canada having the right to claim imminent domain in America.

After I read the releasedjoint statement, it was obvious that this was just a waste of time. It had nothing to do with real issues, but more about show and photo ops.  I should have known Obama would not go on the record about the TPP, an agreement he is keeping so hush-hush, that he won’t even share it with the American citizenry openly and no one yet knows the broad scope of its reach. An agreement so hidden that we wouldn’t even know about its breath if it wasn’t for Wikileaks. All we do know is that Wall Street and the big banks and all associated with it are racking up big bonuses and it aint even law yet.

But as, unusual, I actually expected a meeting to be productive, and that American leaders should (the conditional) work on the best interest of U.S. citizens. But I was wrong, all this was it seems was a ten hour glorified lunch meeting, I just wonder how much tax payers spent for this, seeing that it could have been conducted via Skype.

deposits and despots

In my short time on this Earth, I have to come to accept that ignorance is bliss for many. I have revisited this as of late with the current elections and the economic consternation that threatens the people who inhabit this dear planet. In particular as of late I have been reminded of the prophetic statement of Mayer Amschel Rothschild: “Give me control over a nation’s currency, and I care not who makes its laws.”

This was the man who I think, as well as others we can contribute the theory of economic inductance too. Like a fine mathematician, he figured out that by using currency (or depository loan accounts), he could get folk to give up real wealth (land for example) in exchange for the promise of greater wealth. He even gave governments these promissory notes for real collateral and then make the flow of loot tight so he could take other folks shit (collateral) and could even make governments go to war through the obligation of their contracts. Yes like a physicist even – inductance via the energy of the debtor.

We have only seen the start of this tumultuous period in America. I know I said that all great empires will eventually crumble as did Rome. I don’t know if is the decline of the united States of America, but I speculate if we don’t come out of this period with our heads turned to the front, it will be. In today’s world, the US government has privatized all profits while at the same time socialized all losses. If it were me, I would have been straight free enterprise jones and let bad economic occurrences related to business fail. But not this government, they would rather pick and choose the companies they want to live without any logic or rationale. None of this shit they doing going to do nothing for Profit to earning ratios. And as an investor, if you have short dated paper at the bank, watch your loot – cause if it goes bust folk can on a whim, pick and choose if they will freeze bonds and even worse, all associated interest income.

Yep it’s real in the field and foul. The truth is unlike other places where folks save, 80 to 85% of Americans are broke. Not to mention we aint even felt the impact of the recession yet for I feel that it will be a good 10 years plus before we even have a real good economy again. No this aint no depression, I don’t see no 10 % decline in GDP, but it is a sever repression; protectionism is on the rise and to play it safe, most countries are reducing imports. I will not even mention that the Euro has had its biggest gain against the dollar ever – that’s another story.

But do head my warning. I mean it aint like this aint ever happened before. It has, but this is the first time such has happened to America. In Thailand, following months of speculative attacks against the Thai baht, which was closely pegged to the U.S. dollar, the Bank of Thailand allowed the baht to float in July 1997. This led to a loss of export competitiveness which required the devaluation. At the time it was a constitutional monarchy.

In Argentina, in what has been called the Tequila Banking Crisis, we saw the same thing. It was called such because it was set in place by what occurred in Mexico in December 1994. The problem with the Mexican banking system lead to an accelerated the restructuring of the banking sector in Argentina – namely the privatization of provincial banks, consolidation of private banks, and selective bank liquidations. Banks, (as we see here to day) had limited bank deposits and were unable to provide credit. Not to mention the ratio of broad money to GDP had been declining for decades which resulted in hyperinflation, and the problem being - was a large volume of nonperforming loans that increased the fiscal burden (just like mortgage backed securities here).

Irony of it all, In all them places, Argentina, Thailand, Indonesia and Russia among others, after the banking system collapsed, in three the governments were deposed, over thrown by the people, in the case for Russia, a new and more autocratic (communist) leadership/government was installed. Them folk over there handled theirs, my query is what we gone do? Are we gone be proactive and make certain that liberty and justice is for all – or just the wealth and political class? Are we gonna inform ourselves and pay attention, or attend to whether or not we like Beyoncee’s new song or be in the habit of stunting for folks who don’t eat, live, die or shit for us? That’s all folk here asking jones mane. The writing is on the wall as well as in history books. But yawl don’t here me though.

For any person in power who acts tyrannically, or any ruler with absolute power, or a person who wields power oppressively, to me is a tyrant – a despot and no different from Maximillien Robespierre, the mastermind of the Reign of Terror (1793–1794) during the French Revolution. Strange aint it, how deposits and despots have the same root word.

What’s it made off

As many of you know I do not like to write about entertainment, but today I will digress and do such. So please bear with me on my new endeavor. Down in this camp, the ATL, there a social event that will go on tonight called “Hot on the Runway.” It is a fashion show and concert that will be held it this joint called the Compound, which was founded by the Black Mafia Family (BMF). Performances are slated to be made by Atlanta’s own Blood Raw of CTE, Mario, Ray-J and Ashanti among others.

Now there is nothing wrong with fashion, or fashion shows. I even went to a fashion show once (my daughters mother was in it and said i never came to see her model) and although I cannot recall of the designers, and didn’t attempt to get any of the models phone numbers, what I recant most was that it was outside and that the had a barb-q pit and he was serving pork – and I simply loved that.

However, at this show, they have a promotional contest in which the will be giving away a $5000 red Dolce & Gabbana Crocodile Purse. Now correct me if I am wrong, but what can a purse be made of that make it worth $5000? Sure I know the obvious, but when I lived in Nigeria you could get them for $50 US dollars. I tried to find a picture of the purse but could’t because didn’t know WTF I was looking for, so one of my favorite beverages has to suffice for this post.

Now the way I see it, which may be foul, I could get 68.7 shares of National Oilwell Varco (NOV) or 40.7 shares of PBR (Petroleo Brasileiro), although it could by me a lot of Pabst Blue Ribbon also. But that is just me. But on the real, with the recession, and the high cost of education, and folks losing teir houses, why not give away a scholarship, or a down payment on a home, or even offer to pay $5000 on someone’s mortgage?

I just don’t get, I really don’t. To me, such action play into sterotypes tha are already debilitating. Such as buying cars over homes, spinners(Sprewell’s) over stock, and last but not least the ubiquitous flossin’ and frontin’ – which by definition means pretending like you got loot when you do not. As a people, we command a GDP of $688 billion. That’s way more than the highest GDP for an African nation (Egypt), which has an estimated annual GDP of $290 billion. Our estimated GDP is in the ranks with countries the likes of Spain and Mexico.

So what gives folk, when we gone stop and look at the big picture. 5 stacks could get me central air and heat for my home, and at least a years worth of gas. I just want to leave you with this think, cause if I spent 5 stacks, and it wasn’t on stocks, it better be some aluminum siding or stucco on my crib.