When Bernanke speaks of interest rates, he says the Fed keeps rates low to spur jobs and keep liquidity in our economy. This is only a half truth. Interest rates have very little to do with creating jobs. It does foster liquidity by making money cheap, but this really only helps the banking industry. They can buy even cheaper at the discount window, invest risk free in treasuries and beef up their ledgers. To be fair cheap money also helps near-term credit industries or cycle situations, such as the harvest season for farmers or spring fashion for the clothing industry, however those jobs are long gone to foreign ports. Cheap rates also cause the dollar to lose value, especially when the printing press works overtime. This will help with exports, but exports only account for 14% of our economy. Where is the help for the 86% or the rest of us?
By the way the original charter for the Fed only declared that they maintain coin in our economy and that this currency be strong. They added a vague line about related matters. Does related matters include buying Euro bonds to keep the ECM strong so that they can export to us, putting our companies out of business and costing us jobs? Well, that is exactly what the present day Fed does in its daily affairs.
But the Lies First!
The real reason the Fed keeps rates low is so the public and our foreign creditors won't begin to panic about the money that they have lent to our treasury and nation. Gotta give the Fed credit for the way that they have manipulated both our market and the international market to accept a bond that pays only 2% for ten years. C'mon! Ten years ago, gasoline was just approaching $2.00 per gallon. Today, it cost twice as much. What I can't believe is that during this span, the Fed says inflation is less than 2% and they get away with it.
Facts!
The fed has managed to keep rates low so the federal government can pay their bills. This is the bottom line. At 2%, the interest expense for our national debt only grows at $454 billion a year. When you look at the historical interest rate averages, they range from five percent to six percent. Now, each one percent rise adds $88 billion to our debt. It would hit $930 billion a year if rates rose to six percent. When you compare rates today(2%), this is affordable at three percent of GDP, however at six percent, this debt margin jumps to 33% of GDP. Could you pay 33% interest on your wages and still make ends meet? This would be in addition to your living expenses, food, gas, etc. No, of course not! And yet, this is what our nation faces if we don't start to cut expenses, stop wasteful wars and redo our tax code that makes industry worthwhile to do here in the US and at the same time, close the loopholes and collect what corporations owe the government, which in reality is you and me. End the Fed!
LIARS and CROOKS
Another black mark on President Obama's alternative energy record. Another solar company went bankrupt this week. Solar Trust, not only lost with that moniker, but it turns out is a subsidiary of a German company and get this. The company received a $1.5 billion dollar loan from our Department of Energy. So, the jobs act was a lie because this failure was not even an American company.
Tuesday, April 3, 2012
Monday, March 26, 2012
Prediction: Next Crisis from Risk with SPEs&Ds...L&C
Do you know what SPEs are? Companies use them in many creative ways, but mostly to hide debt to allow them to borrow money at low rates. The concept should be banned or at least modified so that the effects to the financial health are known and understood. Even then, because of our human nature we are still prone to take on more risk than we should. Let me digress.
Enron
does that name ring a bell? They specialized in Special Purpose Entities(SPE). They would start a new company under one of their directors and place some assets with it. They would then borrow, say $100 million and immediately move the money to Enron's coffers. Hey, our Federal Government does the same thing. LBJ put the Viet Nam War off the books, as well as recently with G.Bush. This is corruption! ...but don't let me go off the handle because Social Security, Medicare and federal pensions are also unfunded and off the books to the tune of $54 trillion. Man, we are doomed...
In More Ways Than One
Why? Gerald Wilde, a Canadian psychologist tackled the same question in his book, Target Risk. He found that humans have a tendency for lower risks in one area by taking greater risks in another. This is the same problem NASA had with the O-rings on Challenger. Sure they showed wear & tear, but they held. Blast off! This is why I predict that a crisis will arise from SPEs, probably attached to some form of derivative, which by the way has global risk to the sum of over $500 trillion or ten times the value of the entire world. We are so doomed! If there was one place to begin anew and try to a step-by-step approach back to normalcy, I'd say,"END the FED!"
LIARS and CROOKS: See above with debts that are not under liabilities on our book keeping.
Enron
does that name ring a bell? They specialized in Special Purpose Entities(SPE). They would start a new company under one of their directors and place some assets with it. They would then borrow, say $100 million and immediately move the money to Enron's coffers. Hey, our Federal Government does the same thing. LBJ put the Viet Nam War off the books, as well as recently with G.Bush. This is corruption! ...but don't let me go off the handle because Social Security, Medicare and federal pensions are also unfunded and off the books to the tune of $54 trillion. Man, we are doomed...
In More Ways Than One
Why? Gerald Wilde, a Canadian psychologist tackled the same question in his book, Target Risk. He found that humans have a tendency for lower risks in one area by taking greater risks in another. This is the same problem NASA had with the O-rings on Challenger. Sure they showed wear & tear, but they held. Blast off! This is why I predict that a crisis will arise from SPEs, probably attached to some form of derivative, which by the way has global risk to the sum of over $500 trillion or ten times the value of the entire world. We are so doomed! If there was one place to begin anew and try to a step-by-step approach back to normalcy, I'd say,"END the FED!"
LIARS and CROOKS: See above with debts that are not under liabilities on our book keeping.
Monday, March 19, 2012
Free Trade with China? Ha!...L&C
There is a world court case coming soon for American Superconductors(AMSC) versus Sinovel Wind Group, a Chinese company over patent infringement, breach of contract and other sins. The problem for AMSC is will it survive its own legal problems stemming from a shareholder Class Action lawsuit pertaining to its stock and company projections.
One or Two Times
for problems with a companies product is understandable, especially with size. However, anything more is a trend. Chinses companies have had serious problems in the past from poisoned dog food, lead in children toys, pirating of merchandise to fraud of licensing agreements. Keep in mind that China demands any company doing business in China to be declared a Chinese company. So, Apple, Ford, Sony, Mercedes, whoever doesn't matter because once they open in China, China says they're Chinese.
Google Warning
Google pulled its operations out of the Chinese mainland due to this clause because China wanted the blueprint code of Google, which and I agree with, Google didn't provide or give in to these demands.
This takes us, dear reader to the latest case involving a Chinese company.
Sinovel Wind Group
Utilizes the technical smarts and products of AMSC. However, they being in China and AMSC being in the US makes the saying,"when the cat is away, the mice will play." Sinovel CEO had the brains of AMSC parts disected and he formed his own Chinese company to copy and duplicate AMSC expertise. He cancelled the remaining orders to the AMSC contract and thus the stock retreated, causing the Class Action suit. One thing leads to another.
End Trade With China
until it straightens out and acts honorably. Do you know the free trade lie about everything including this aspect of the so-called free trade global community? The average tariff in China on American companies is 25%. These people are crooks! They steal everything! They have more middle class citizens than we have citizens. Protectionism now!
LIARS and CROOKS: This week goes to Helicopter Ben whose aka is "Slicky Ben." He made the banks do a stress test under serious conditions, however the rules were changed which made for results that Ben knew he would receive which is providing the stock market with continued gains. This deception is brillant!
Know the Final
before the game is over. You see with the changes to good part bank/bad bank, market-to-market pricing and what is an asset and what is a liability have all been rewritten to cover the banking industries weakness. If this same test was giving just twenty years ago, ninety percent of the banks would have failed! END THE FED!
One or Two Times
for problems with a companies product is understandable, especially with size. However, anything more is a trend. Chinses companies have had serious problems in the past from poisoned dog food, lead in children toys, pirating of merchandise to fraud of licensing agreements. Keep in mind that China demands any company doing business in China to be declared a Chinese company. So, Apple, Ford, Sony, Mercedes, whoever doesn't matter because once they open in China, China says they're Chinese.
Google Warning
Google pulled its operations out of the Chinese mainland due to this clause because China wanted the blueprint code of Google, which and I agree with, Google didn't provide or give in to these demands.
This takes us, dear reader to the latest case involving a Chinese company.
Sinovel Wind Group
Utilizes the technical smarts and products of AMSC. However, they being in China and AMSC being in the US makes the saying,"when the cat is away, the mice will play." Sinovel CEO had the brains of AMSC parts disected and he formed his own Chinese company to copy and duplicate AMSC expertise. He cancelled the remaining orders to the AMSC contract and thus the stock retreated, causing the Class Action suit. One thing leads to another.
End Trade With China
until it straightens out and acts honorably. Do you know the free trade lie about everything including this aspect of the so-called free trade global community? The average tariff in China on American companies is 25%. These people are crooks! They steal everything! They have more middle class citizens than we have citizens. Protectionism now!
LIARS and CROOKS: This week goes to Helicopter Ben whose aka is "Slicky Ben." He made the banks do a stress test under serious conditions, however the rules were changed which made for results that Ben knew he would receive which is providing the stock market with continued gains. This deception is brillant!
Know the Final
before the game is over. You see with the changes to good part bank/bad bank, market-to-market pricing and what is an asset and what is a liability have all been rewritten to cover the banking industries weakness. If this same test was giving just twenty years ago, ninety percent of the banks would have failed! END THE FED!
Sunday, March 11, 2012
Baked Apple, Nokia Toast, Dim-Rim Outlook...L&C
With Apple going over $500. per share and pundits looking for $600., $700., even $1000. per share, I decided to give Apple and its competition a closer look.
Who Is Buying?
Samsung has a goal for 2012 to sell over 380 million smart phones after selling 327 million in 2011. Very impressive! They are not alone in trying to capture a market where Apple holds almost 50% of the action. Some other names include LG,Sony, Huawei, View Sonic, ZTE, Nokia, Rimm and Motorola Mobility(Google). All these companies sell by the millions in product. Now, the world population is 6 billion, however half of the world is too poor to purchase a smart phones which cuts the potential market to 3 billion. If you just add the volume of Samsung alone, you reach one billion sold and keep in mind Apple is the market leader. I conclude that this market is saturated and a shakeout will ensue.
Apple
If you look at Apple, they also dominate the tablet or IPad market, to which the same numbers reach the same conclusion, Who is left to buy? It seems no one pays attention to PCs because the market is saturated and this is where Apple started. The market is dead weight and the phones business is next in line.
Selling
This reminds me of when I was a kid. I brought albums, however the 8-track came along to change buying habits. This was soon followed with cassettes which were replaced with CDs. You see a pattern here. IPad 1, then IPad 11, then 111 and now FOUR! Suckers are born every minute to quote the selling game. Prediction: Apple will sell for less than $100. per share by 2020.
LIARS and CROOKS: Some people like me try to remind the public that one of the principles that our Founding Fathers agreed upon was the idea for our nation not to get involved in international politics which generally leads to conflict and war which causes financial ruin which definitely does not promote the general welfare.
Military Industrial Complex
...try to convince the public of dangers that sometimes do not exist and they are only looking out for self gain like Lockheed Martin. They do not have a conscious for our lost treasure, financial debt and declining standard of living. They have pushed our national agenda towards one negative situation after another: Nam, Grenada, El Salvador, Irag and Afghanistan. They now express danger with Iran, Syria, Yemen, assorted African nations and elsewhere around the globe.
Lockheed Martin receives $40 billion in annual revenues. It is the largest recipient of US tax dollars. It adds up to about $260 from each household in our nation. They are "too big to fail" and an anchor on our national debt.
This is a company with a checkered past with poor quality and over-runs on projects that never live up to the hype. It maintains power with $15 million in lobbying and campaign contributions.
It also funds right-wing think tanks which adds to the confusion in our public thinking on defense. They sell danger behind everything foreign. Lockheed Martin especially likes these groups to express ideas that if they put them out, people would see through the transparency for self gain. It is that obvious.
Who Is Buying?
Samsung has a goal for 2012 to sell over 380 million smart phones after selling 327 million in 2011. Very impressive! They are not alone in trying to capture a market where Apple holds almost 50% of the action. Some other names include LG,Sony, Huawei, View Sonic, ZTE, Nokia, Rimm and Motorola Mobility(Google). All these companies sell by the millions in product. Now, the world population is 6 billion, however half of the world is too poor to purchase a smart phones which cuts the potential market to 3 billion. If you just add the volume of Samsung alone, you reach one billion sold and keep in mind Apple is the market leader. I conclude that this market is saturated and a shakeout will ensue.
Apple
If you look at Apple, they also dominate the tablet or IPad market, to which the same numbers reach the same conclusion, Who is left to buy? It seems no one pays attention to PCs because the market is saturated and this is where Apple started. The market is dead weight and the phones business is next in line.
Selling
This reminds me of when I was a kid. I brought albums, however the 8-track came along to change buying habits. This was soon followed with cassettes which were replaced with CDs. You see a pattern here. IPad 1, then IPad 11, then 111 and now FOUR! Suckers are born every minute to quote the selling game. Prediction: Apple will sell for less than $100. per share by 2020.
LIARS and CROOKS: Some people like me try to remind the public that one of the principles that our Founding Fathers agreed upon was the idea for our nation not to get involved in international politics which generally leads to conflict and war which causes financial ruin which definitely does not promote the general welfare.
Military Industrial Complex
...try to convince the public of dangers that sometimes do not exist and they are only looking out for self gain like Lockheed Martin. They do not have a conscious for our lost treasure, financial debt and declining standard of living. They have pushed our national agenda towards one negative situation after another: Nam, Grenada, El Salvador, Irag and Afghanistan. They now express danger with Iran, Syria, Yemen, assorted African nations and elsewhere around the globe.
Lockheed Martin receives $40 billion in annual revenues. It is the largest recipient of US tax dollars. It adds up to about $260 from each household in our nation. They are "too big to fail" and an anchor on our national debt.
This is a company with a checkered past with poor quality and over-runs on projects that never live up to the hype. It maintains power with $15 million in lobbying and campaign contributions.
It also funds right-wing think tanks which adds to the confusion in our public thinking on defense. They sell danger behind everything foreign. Lockheed Martin especially likes these groups to express ideas that if they put them out, people would see through the transparency for self gain. It is that obvious.
Sunday, March 4, 2012
Human Nature Says: Putin, Obama Again!...L&C
There is something in our human nature that works like the Rings of Saturn regarding change. You can read all the self-help books you want, but until you can defeat the "I Can't Syndrome" within your self, you won't. This plays for big gains by incumbents in politics. As much as we dread the present people in political power, our subconscious fears the unknown even more. We will rationalize until we see for some poor reasoning to vote the incumbent over someone who we might think would be the better candidate. For example, Ron Paul. He would cut back on the military. Yes, we like. He would strive to return to the gold standard with a strong dollar. Yes, again! We like. He would cut the deficit. Yes, again! We like, but we vote Obama because Paul won't win(I Can't Syn.). It could be any candidate, but the bottom line our weak nature will continue the status quo whether Putin, Obama, or the idiot in Iran. Too bad for all of us who are more positive and think more clearly. Prediction: Putin and Obama.
LIARS and CROOKS: This week goes to President Obama and all the Republican candidates who discussed the issue of rising oil prices. They all claim the tensions over Iran which is true or speculation which also adds to the cost, but even together is not the real problem. Iran and speculation are temporary. The real danger is our oil companies closed three oil refineries and remember there has not been one new refinery built in over twenty years. There is a new dangerous "oil spread" developing between WTI(American oil) and Brent(European oil). Oil in Europe is already over $125. per barrel. The East coast refineries could not stay in business with those prices, especially when in the Mid-West it was $20. cheaper. This is the source of the problem and even worse. It is forecasting what we would have to pay for gasoline if the dollar ever lost its reserve status. DANGER! End the Fed!
LIARS and CROOKS: This week goes to President Obama and all the Republican candidates who discussed the issue of rising oil prices. They all claim the tensions over Iran which is true or speculation which also adds to the cost, but even together is not the real problem. Iran and speculation are temporary. The real danger is our oil companies closed three oil refineries and remember there has not been one new refinery built in over twenty years. There is a new dangerous "oil spread" developing between WTI(American oil) and Brent(European oil). Oil in Europe is already over $125. per barrel. The East coast refineries could not stay in business with those prices, especially when in the Mid-West it was $20. cheaper. This is the source of the problem and even worse. It is forecasting what we would have to pay for gasoline if the dollar ever lost its reserve status. DANGER! End the Fed!
Sunday, February 26, 2012
I Played "KICK the CAN!"...L&C
The world received the news last week that the "deal" with Greece has finally been done. The pundits reviewed the pros and cons of the deal which could actually unwind because the administrators could face a new government in Greece who could derail the plan. Fret not! I not going there. However I'd like to address the cliche that is used to describe the solution for the problem, which is debt(can)and by rolling it over, they delay a day of reckoning by moving the time table down the road.
Bronx Street Wise
As a kid I actually played the game called, "Kick the Can." The idea was to get some sad sack to chase down everyone else while they hid and sometimes with street emotions and outlets, would call out the idiot, names and more until he found everyone with the last person being "it" for the next game which the big guys would grow tired of and forget that, so as to speak. They would go home. However, there was another option and this will relate to Greece. It is called the "BUMS RUSH!" The idea behind this option was the last remaining guys would all charge the "it" person at the same time whereas he could not call out the individuals quick enough and as a result someone would kick his hand while holding the can, which sent the can flying, him crying and everyone else, was free to start all over again with the same idiot chasing everybody and the game begins again from the start.
Debt Solution
There is none. To make investors "take" a voluntary haircut is damaging in many ways. Investors will wise up and won't risk their money in future bonds. Investors who bet with derivatives on the outcome. They won't receive anything because of the loophole in the contract wording "voluntary." They will be hell bent to form a bums rush on the bankers and governments for cheating them(in their thinking). This part has dangerous reprocustions for the market in the future. Greece, their government leaders and people will eventually feel abused by the austerity measures. Words are already flying between the Greek President and the German finance minister. Germans still feel cheated as they have to work until age 67 for retirement as opposed to 50, the early retirement in Greece among other pension aspects like health insurance. This also affects the other European members as well as the rest of the world as they read and compare their own standard of living. Finally, there is no plan to help Greece to grow out of the debt and this can has lead in it with the weight of debt that everyone is just going to say, forget that and go home.
Going Home
Four players "moved" out of the neighborhood and they won't be playing anymore. Grubb & Ellis, CyberDefender went to bankruptcy. Home Saving of America and Central Bank of Georgia both failed last week.
LIARS and CROOKS: Last week saw Congress agree to the tax cut(working plan) and to extend unemployment benefit insurance. Did anyone ask where the money came from? I'll tell you. They took the money from the social security revenues like they always have done for the past 50 years which is the real reason why the fund is almost broke. Apparently, they do not know the rules and consequences of kick the can.
Bronx Street Wise
As a kid I actually played the game called, "Kick the Can." The idea was to get some sad sack to chase down everyone else while they hid and sometimes with street emotions and outlets, would call out the idiot, names and more until he found everyone with the last person being "it" for the next game which the big guys would grow tired of and forget that, so as to speak. They would go home. However, there was another option and this will relate to Greece. It is called the "BUMS RUSH!" The idea behind this option was the last remaining guys would all charge the "it" person at the same time whereas he could not call out the individuals quick enough and as a result someone would kick his hand while holding the can, which sent the can flying, him crying and everyone else, was free to start all over again with the same idiot chasing everybody and the game begins again from the start.
Debt Solution
There is none. To make investors "take" a voluntary haircut is damaging in many ways. Investors will wise up and won't risk their money in future bonds. Investors who bet with derivatives on the outcome. They won't receive anything because of the loophole in the contract wording "voluntary." They will be hell bent to form a bums rush on the bankers and governments for cheating them(in their thinking). This part has dangerous reprocustions for the market in the future. Greece, their government leaders and people will eventually feel abused by the austerity measures. Words are already flying between the Greek President and the German finance minister. Germans still feel cheated as they have to work until age 67 for retirement as opposed to 50, the early retirement in Greece among other pension aspects like health insurance. This also affects the other European members as well as the rest of the world as they read and compare their own standard of living. Finally, there is no plan to help Greece to grow out of the debt and this can has lead in it with the weight of debt that everyone is just going to say, forget that and go home.
Going Home
Four players "moved" out of the neighborhood and they won't be playing anymore. Grubb & Ellis, CyberDefender went to bankruptcy. Home Saving of America and Central Bank of Georgia both failed last week.
LIARS and CROOKS: Last week saw Congress agree to the tax cut(working plan) and to extend unemployment benefit insurance. Did anyone ask where the money came from? I'll tell you. They took the money from the social security revenues like they always have done for the past 50 years which is the real reason why the fund is almost broke. Apparently, they do not know the rules and consequences of kick the can.
Sunday, February 19, 2012
Investing or Sucker Punch?...L&C
We have been hearing a lot of good news over the airwaves lately about the state of our economy. Wall Street pundits are calling this the first stage of a rally. Barrons just posted its latest issue with the cover: DOW 15,000. Individual companies like Apple closed over $500 a share this past week. The housing industry had increased starts for January. GM is once again the number one car maker. Unemployment is down to 8.5%, and confidence is rising. So, is this the time for you to enter the market?
My Perspective
When I look at my indicators, I don't see it. What I do see is a feel good campaign by the Obama administration to get reelected. These are some of the reasons why I would advise you to wait on the sidelines. If this is another leg up on a bull market, the only thing you will miss is early money. Markets always correct and you can enter with a correction. What I have stated before and again here, study the volume on the correction as well as the upside. At the moment there is no volume or conviction in the market. The serious volume days have come on the downside which leads me to one of my indicators.
CEO Selling
Argus Research shows that CEOs are dumping their shares. If anyone should know about future sales, problems, etc., it is them. They are selling to the tune of 5.77 for everyone that buys. This is a omen.
Oil and Food
They have both risen in double digit percentages. You cannot trust the government because they place their people in the agancies to give reports that spin things to a positive tone. CPI in the 2% range. Really? I say BS! I say corruption! Consider this: Gasoline sales have been down since they peaked in 2007 and electicity usage is down fours years in arow while our population continues to grow. Is that a conundrum or what?
Government Manipulation
Bush did it with his tax cuts. It got him reelected and President Obama had Congress pass an accelerated tax plan in 2010 that went into effect last year. This bill allows corporations(why Republicans signed on)to write off any purchases with total 100% depreciation in the same year. This spurred the economy in the forth quarter, however this is a one time event. Every industry got a shot in the arm, but the junk is back to full price. Hope you didn't get addicted?
I could list a few other indicators, but food and oil are my mainstays, however one cannot forget the problems of the world. Greece and ECM may push their problems of debt down the road, but every road leads to a destination. The biggest problem that I see is when you get there, the price of oil could be prohibitive, especially with the Iran nuclear question or Pakistan or Afghanistan or Iraq or Chinese trade problems or some unforeseen situation. The litany will numb the mind. Remember this: the last six recessions have been caused by the spike in oil.
LIARS and CROOKS:I will look at the funny side this week as it relates to the economy and politics. The economy is so bad that Motel 6 won't leave the light on for you. Prices are so high in New York that a picture now is only worth 200 words. Mitt Romney learned a lesson: money cannot buy...Missouri, Colorado or Minnesota. President-elect Obama said that by his third year in office, he would cut the deficit in half to $563 billion and it was over $1.3 trillion which is only off by $800 billion give or take, but that's government calculations.
My Perspective
When I look at my indicators, I don't see it. What I do see is a feel good campaign by the Obama administration to get reelected. These are some of the reasons why I would advise you to wait on the sidelines. If this is another leg up on a bull market, the only thing you will miss is early money. Markets always correct and you can enter with a correction. What I have stated before and again here, study the volume on the correction as well as the upside. At the moment there is no volume or conviction in the market. The serious volume days have come on the downside which leads me to one of my indicators.
CEO Selling
Argus Research shows that CEOs are dumping their shares. If anyone should know about future sales, problems, etc., it is them. They are selling to the tune of 5.77 for everyone that buys. This is a omen.
Oil and Food
They have both risen in double digit percentages. You cannot trust the government because they place their people in the agancies to give reports that spin things to a positive tone. CPI in the 2% range. Really? I say BS! I say corruption! Consider this: Gasoline sales have been down since they peaked in 2007 and electicity usage is down fours years in arow while our population continues to grow. Is that a conundrum or what?
Government Manipulation
Bush did it with his tax cuts. It got him reelected and President Obama had Congress pass an accelerated tax plan in 2010 that went into effect last year. This bill allows corporations(why Republicans signed on)to write off any purchases with total 100% depreciation in the same year. This spurred the economy in the forth quarter, however this is a one time event. Every industry got a shot in the arm, but the junk is back to full price. Hope you didn't get addicted?
I could list a few other indicators, but food and oil are my mainstays, however one cannot forget the problems of the world. Greece and ECM may push their problems of debt down the road, but every road leads to a destination. The biggest problem that I see is when you get there, the price of oil could be prohibitive, especially with the Iran nuclear question or Pakistan or Afghanistan or Iraq or Chinese trade problems or some unforeseen situation. The litany will numb the mind. Remember this: the last six recessions have been caused by the spike in oil.
LIARS and CROOKS:I will look at the funny side this week as it relates to the economy and politics. The economy is so bad that Motel 6 won't leave the light on for you. Prices are so high in New York that a picture now is only worth 200 words. Mitt Romney learned a lesson: money cannot buy...Missouri, Colorado or Minnesota. President-elect Obama said that by his third year in office, he would cut the deficit in half to $563 billion and it was over $1.3 trillion which is only off by $800 billion give or take, but that's government calculations.
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