This just in: Obama raised $60 million for his reelection campaign and Romney out did him with his donors to the tune of $76 million. Can you believe those numbers? This is the kicker and it relates to this piece. Those figures are not the end total, but just the collections for the month of May. Is it any wonder that these two along with every other politician has no sense of reality when it comes to costs like our deficit or no understanding how difficult it is for the average working American to make ends meet? They argue on tax codes with $250,000 as middle class. Get real! Better yet, get out of town!
U.S. Navy
has a very proud tradition and I cried the first time I saw the FIVE SULLIVAN'S. I could easily invoke the "Duke"or going back to our war of independence, John Paul Jones or maybe even today, with admiral Michael Mullen, the ex- Joint Chiefs of Staff who more than once has stated that our debt is the biggest threat to our security. This is a story not only about wasteful spending, but about stupid wasteful spending that the military performs on a daily routine.
Gerald Ford Carriers
are the new class of aircraft carriers for our navy. They will carry a load of 5,000 service-people, x-amount of aircraft and other new gadgets to shock and awe our opponents. They will carry a price tag of $42 billion and counting. Why do you say, and counting? Because even hawks like John McCain have decried the rising costs for these warships which are still five years from completion and they have already escalated 18%. Each carrier will cost $27 billion to build and operate.
Debate?
There is no discussion, no accountability. If the cost rises, they just include it in the bill with a note, sorry, we had some rising prices due to unforeseen problems. Their budget will always receive increases. One reason for the blank check is the fact that 45 states are involved in one form or another with the making of these weapons. There are only (5)five states that can oppose the military. This is diabolical as was the making of a professional service which eliminated the national draft which ended the political issue.
One Very Serious Flaw
the aircraft carrier as a military weapon is obsolete. Let me repeat that. Just like a wooden ship versus a steel ship, the aircraft carrier is outdated due to technology. With the advent of smart bombs, drone attack craft, ballistic and cruise missiles, the carrier is a sitting duck floating on the water and it will sink with 5,000 troops, pilots and aircraft included. The cost is off the charts both physically and mentally. The Chinese, for example, have already built their own space station. They have shot down a satellite. It is arrogance that says they or anyone else cannot build a weapon with any of the above technological features. It is greed and stupidity that does not look to the future like when in 1920, someone had to convince the military that an aircraft carrier was the future of warfare. And then, there is the phony code of security clearance. The military had the A-Bomb stolen from them. They find out fives years after the crime that military secrets were being sold in the black market. Security? Ha! Don't forget the hype about being the only superpower. This is the same military complex that showed itself in Desert One with aircraft that couldn't fly or crashed, helicopters that wouldn't work and the poor quality of training. It's all about their pay, health plan and pension. As the good admiral has stated, George Washington in his Farewell Address or President Eisenhower, the military is dangerous to a free republic.
Real Dangers
are in cyber, on our borders and satellite communication. All these things receive low priority from the military. One real, sad reason is because when a crisis arises from one of these aspects, the military will use it to ask for more money. These people have no real ability and are nothing more than greedy bureaucrats who are placing our soldiers into a certain death and another struggle for our navy like Pearl Harbor.
LIARS and CROOKS: Again, it goes to President Obama. He wins for the third week in a row. Wow! I have seen my Yankees hit back-to-back-to-back home runs, but with L&C, this is a first. What happened? Well, Congressman Darrell Issa, the Republican has been investigating the "Fast & Furious" which was the selling of guns by TSA under the Attorney General, Holder's, leadership. The stupid idea like all these bureaucrats develop was to sell guns to gangs on our border to see if they made their way up to the drug cartels. And they did with the killing of two US agents to which began the investigation. Issa says that Holder is withholding documents with information on the episode. We lost two agents. What about the 40,000 lives in Mexico? So, how is Obama involved? He joins the circus because he has leaked to the press that he will invoke "executive privilege." Funny, there is no such provision in the constitution and that makes him the winner. I believe the reason is because the public will become outraged with the whole affair and it will reflect on the president in a presidential year. All about image! Not what is right and that is why I always say, "End the Fed!"
Sunday, June 24, 2012
Sunday, June 17, 2012
1st Truth:40% Loss & Back to Lies...L&C
There was a report released this past week from the Federal Reserve of all institutions that was the first real truth about the American economy and state of affairs. If it were, say for example, in a another nation with the similar effects from the financial crisis, I'm sure that the people of Spain could relate and the Greek nation that is entering elections today, would utilize it as a force to determine who to vote for to correct their economy and way of life.
The report stated that the average American loss almost 40% of their asset value due to the destructive forces of the financial crisis. It goes further to say that as of 2010, the average asset value of our nation declined to $77,300 from $126,400 in 2007. It implies the dangers to government revenues due to unemployment, however there is no mention of the added hopelessness to recover due to unemployment.
Talk show BS!
If you listen to the airwaves, pundits from both sides of the aisle blame the other party and provide "facts" dating to either Clinton for the donkeys or Reagan for the elephants. Authors fill the gaps with their latest work to add authority and fairness for these shows. In pieces like, Screwed: the Undeclared War Against the Middle Class, these writers make a persuasive argument. However, in my unpublished work:The Evolution of Democracy: the Book of Multiple Ideas and Predictions, I was saying the same argument back in 2008 except the conclusions you read here won't be heard anywhere else.
In fact, I go back further, all the way to 1973 and even the Marshall Plan after WWII. Americans work harder, longer and for less pay with higher productivity than their counter-parts in Europe and Japan who benefited from world trade before China entered the fray. It's funny that 1973 stands out as the turning point or tripping point in the American economy. It was the last year of strength in labor unions. They lost and so did the nation. We went from manufacturing to a service economy due to the lack of protection from our own government and the creativeness of our nation. The problem is the military eats up our budget and destroys our dollar. This needs to end. We are not the police force for the world.
When you combine the two negatives with the new service paycheck which is lower than a manufacturing check, well, your standard of living declines. This is the real truth and bottom line.
Baby Boomers
are going to have to work longer because of this loss of wealth as they enter retirement age. Old Helicopter Ben says the economy will add jobs by 2014. What he was really saying is when the baby boomers retire, jobs will open up. The Federal Reserve gave an honest report, however they did not say that they were the cause of all our problems by destroying the value of the dollar and encouraging debt. End the Fed!
LIARS and CROOKS: Again, to President Obama. He passes an executive act called the Dream Act which says if illegal immigrant children are in good standing in this country, well, they can stay. One, I thought that the constitution stated that only Congress shall institute law. Secondly, the President is over-stepping Congress. This is tyranny. And, isn't it amazing that the president takes a stand four years into office at election time. He didn't do this to get the Hispanic vote. It is the right thing to do. Yeah, get out of town!
The report stated that the average American loss almost 40% of their asset value due to the destructive forces of the financial crisis. It goes further to say that as of 2010, the average asset value of our nation declined to $77,300 from $126,400 in 2007. It implies the dangers to government revenues due to unemployment, however there is no mention of the added hopelessness to recover due to unemployment.
Talk show BS!
If you listen to the airwaves, pundits from both sides of the aisle blame the other party and provide "facts" dating to either Clinton for the donkeys or Reagan for the elephants. Authors fill the gaps with their latest work to add authority and fairness for these shows. In pieces like, Screwed: the Undeclared War Against the Middle Class, these writers make a persuasive argument. However, in my unpublished work:The Evolution of Democracy: the Book of Multiple Ideas and Predictions, I was saying the same argument back in 2008 except the conclusions you read here won't be heard anywhere else.
In fact, I go back further, all the way to 1973 and even the Marshall Plan after WWII. Americans work harder, longer and for less pay with higher productivity than their counter-parts in Europe and Japan who benefited from world trade before China entered the fray. It's funny that 1973 stands out as the turning point or tripping point in the American economy. It was the last year of strength in labor unions. They lost and so did the nation. We went from manufacturing to a service economy due to the lack of protection from our own government and the creativeness of our nation. The problem is the military eats up our budget and destroys our dollar. This needs to end. We are not the police force for the world.
When you combine the two negatives with the new service paycheck which is lower than a manufacturing check, well, your standard of living declines. This is the real truth and bottom line.
Baby Boomers
are going to have to work longer because of this loss of wealth as they enter retirement age. Old Helicopter Ben says the economy will add jobs by 2014. What he was really saying is when the baby boomers retire, jobs will open up. The Federal Reserve gave an honest report, however they did not say that they were the cause of all our problems by destroying the value of the dollar and encouraging debt. End the Fed!
LIARS and CROOKS: Again, to President Obama. He passes an executive act called the Dream Act which says if illegal immigrant children are in good standing in this country, well, they can stay. One, I thought that the constitution stated that only Congress shall institute law. Secondly, the President is over-stepping Congress. This is tyranny. And, isn't it amazing that the president takes a stand four years into office at election time. He didn't do this to get the Hispanic vote. It is the right thing to do. Yeah, get out of town!
Monday, June 11, 2012
Contraction:Them=Stimulus, Me=Tariffs...L&C
The pundits are getting fidgety in their chairs on TV. The reasons are multiplying. One, the volume on the Big Board is stronger on the down days and weaker on the up days. Two, the global community isn't helping either when for instance, the Euro members reveal one financial crisis after another as they play musical chairs with the winner getting a chance to play Russian roulette with a loaded gun. On the other side of the world, Premier Wen of China is worried. He is cutting interest rates and putting up some stimulus. Australia joined with an interest rate cut. India is the first BRIC nation to face a ratings downgrade and of course, the granddaddy of them all, the Fed, is on watch with everyone guessing about QE3.
History Does Repeat
Whenever there has been an economic slowdown since WWII, the Fed has pumped money out of thin air and our government assists by launching various stimulus spending programs from transportation, construction, infrastructure or tax benefits.. In fact, I could argue that we no longer have a free capitalist economy, but a socialist government sponsored interventionists economy. The financial crisis of 2008 revealed once again the main reason that the Fed exists, to aid the banking industry. It wasn't the first or will it be the last time unless we terminate it. Whether you are a small business owner or investor one must be aware of how Wall Street interacts with the market, the Fed, Global Central Bankers, Energy Cartel, the Media's psych spin or Government regulations affect on things. These factors more or less have been in play for the past 60 years. No matter how you are introduced to the people "in know" their creative idea is this: more debt is the solution to debt problems. Today for instance, we have people like Peter Orszag, you know, the ex-CBO who spoke out about the dangers from the deficit. Well, his true colors came out last week when he said a little more stimulus won't hurt. We can worry about the budget later. How about Clive Cook, the Simpson-Bowles advocate. He now wants some stimulus. Of course, you can pick and choose your favorite Keynes economic analyst like Paul Krugman who continually complains that the first stimulus was not enough and we need more. Like I said, tt is always more with these people. Spain just received $125 billion more to cover their asses which makes me ask this. If you cannot pay your debts with your present revenues, how can doubling down on your debt solve your problem? It can't. Look at our history. We added a growing total of $16 trillion of known debt with another $70 trillion in unfunded debt. In reading this we grew another billion give-or-take.
LBJ began the mess with tax and spend with his Great Society. We doubled down with Reagan, later with Bush and yet again, with Obama without ever addressing the cause. These ideas are like a drug addict. The shot relieves but, the relief gets shorter and shorter and more and more chemical is needed to obtain relief. There is also the problem with capitalism that it demands new to replace the old.
Albums, VCR, Typewriter
and you can think of many more. According to IDIS World there are 200 industries in decline in the US, but not all of them are due to innovation. Textile Mills are down 50% and China benefits. They control one-third of the world production with cheap labor and government subsidies. Record stores are in ICU for obvious reasons, but Mobile Homes dealers are dying too. Facing cheap paper and rising costs, they are down 73% in the last ten years. The Internet is killing newspaper circulation, but don't overlook the fact that people cut out buying the daily newspaper just to save, especially when gas prices rise.
Layoffs
are coming and even in places that use to be full proof like health care, police and administrative support. Peter Schott and Ben Polak, both Yale economic professors, blame the slowness of the latest recovery on government cutbacks. I have a different view and I am from a small New York college in Dobbs Ferry.
Felix Zulauf
a market legend agrees with me that all of the above ideas are failed exercises and only by fixing the core problem will generate a solution. We probably differ with the core choice.
TARIFFS!
and only tariffs will solve our problem. What about retaliation? We export what they need and it is less than 14%. Protect the 86%. They need us. We don't need them. We only need to import oil and coffee and fairly soon we won't need to import oil. (Yea!) A by-product of tariffs is a lower deficit.(Double yea!!) By the way the world uses them to the max along with currency manipulation. The average tariff on American products in China is 25%. A Jeep cost over $100K. Can you imagine? They ban certain products. You cannot buy a Harley there or a Bud anywhere in Germany. A pink grapefruit cost $8 in Japan and the list goes on-and-on. There is no such thing as free trade. The only way to protect our jobs, economy and way of life is to put tariffs on imports so that we stand a fair chance to compete or we will all be in the ICU as well as the present 200 industries.
LIARS and CROOKS: Repeat Winner! President Obama because he found out about two programs that President Bush hid from everyone. The drones began with Bush and Obama doubled their budget. The other begins a new terror for all of us with the "Olympic Games." This is cyber warfare. The CIA, NSA or some Pentagon agency started a virus to attack Iran and their nuclear program to slow it down. This escalation will only come back to make us all suffer as our airlines, utilities and other outlets will be hacked and or contaminated with viruses. This is very bad and like the advent of the A-Bomb puts us all in danger.
History Does Repeat
Whenever there has been an economic slowdown since WWII, the Fed has pumped money out of thin air and our government assists by launching various stimulus spending programs from transportation, construction, infrastructure or tax benefits.. In fact, I could argue that we no longer have a free capitalist economy, but a socialist government sponsored interventionists economy. The financial crisis of 2008 revealed once again the main reason that the Fed exists, to aid the banking industry. It wasn't the first or will it be the last time unless we terminate it. Whether you are a small business owner or investor one must be aware of how Wall Street interacts with the market, the Fed, Global Central Bankers, Energy Cartel, the Media's psych spin or Government regulations affect on things. These factors more or less have been in play for the past 60 years. No matter how you are introduced to the people "in know" their creative idea is this: more debt is the solution to debt problems. Today for instance, we have people like Peter Orszag, you know, the ex-CBO who spoke out about the dangers from the deficit. Well, his true colors came out last week when he said a little more stimulus won't hurt. We can worry about the budget later. How about Clive Cook, the Simpson-Bowles advocate. He now wants some stimulus. Of course, you can pick and choose your favorite Keynes economic analyst like Paul Krugman who continually complains that the first stimulus was not enough and we need more. Like I said, tt is always more with these people. Spain just received $125 billion more to cover their asses which makes me ask this. If you cannot pay your debts with your present revenues, how can doubling down on your debt solve your problem? It can't. Look at our history. We added a growing total of $16 trillion of known debt with another $70 trillion in unfunded debt. In reading this we grew another billion give-or-take.
LBJ began the mess with tax and spend with his Great Society. We doubled down with Reagan, later with Bush and yet again, with Obama without ever addressing the cause. These ideas are like a drug addict. The shot relieves but, the relief gets shorter and shorter and more and more chemical is needed to obtain relief. There is also the problem with capitalism that it demands new to replace the old.
Albums, VCR, Typewriter
and you can think of many more. According to IDIS World there are 200 industries in decline in the US, but not all of them are due to innovation. Textile Mills are down 50% and China benefits. They control one-third of the world production with cheap labor and government subsidies. Record stores are in ICU for obvious reasons, but Mobile Homes dealers are dying too. Facing cheap paper and rising costs, they are down 73% in the last ten years. The Internet is killing newspaper circulation, but don't overlook the fact that people cut out buying the daily newspaper just to save, especially when gas prices rise.
Layoffs
are coming and even in places that use to be full proof like health care, police and administrative support. Peter Schott and Ben Polak, both Yale economic professors, blame the slowness of the latest recovery on government cutbacks. I have a different view and I am from a small New York college in Dobbs Ferry.
Felix Zulauf
a market legend agrees with me that all of the above ideas are failed exercises and only by fixing the core problem will generate a solution. We probably differ with the core choice.
TARIFFS!
and only tariffs will solve our problem. What about retaliation? We export what they need and it is less than 14%. Protect the 86%. They need us. We don't need them. We only need to import oil and coffee and fairly soon we won't need to import oil. (Yea!) A by-product of tariffs is a lower deficit.(Double yea!!) By the way the world uses them to the max along with currency manipulation. The average tariff on American products in China is 25%. A Jeep cost over $100K. Can you imagine? They ban certain products. You cannot buy a Harley there or a Bud anywhere in Germany. A pink grapefruit cost $8 in Japan and the list goes on-and-on. There is no such thing as free trade. The only way to protect our jobs, economy and way of life is to put tariffs on imports so that we stand a fair chance to compete or we will all be in the ICU as well as the present 200 industries.
LIARS and CROOKS: Repeat Winner! President Obama because he found out about two programs that President Bush hid from everyone. The drones began with Bush and Obama doubled their budget. The other begins a new terror for all of us with the "Olympic Games." This is cyber warfare. The CIA, NSA or some Pentagon agency started a virus to attack Iran and their nuclear program to slow it down. This escalation will only come back to make us all suffer as our airlines, utilities and other outlets will be hacked and or contaminated with viruses. This is very bad and like the advent of the A-Bomb puts us all in danger.
Sunday, June 3, 2012
TV Everywhere Is Coming...L&C
Have you heard of TV Everywhere? You will...and soon. It is expected that millions of Americans will be using it for the first time with the London Olympics this summer. It will allow the viewer more control to view the events that would appeal to individual viewers. It can be used on all your tech gadgets. This aspect will make the Olympic viewing more entertaining and more interesting because of options and choice which TV Everywhere provides.
Synacor Inc.
is the only pure play on the stock market in TV Everywhere. SYNC was an IPO back in February of this year. It is a profitable company that became public at the right time since many cable companies like FIOS will be using SYNCs platform. NBC who will carry the 2012 Olympics will soon be promoting its sponsorship and TV Everywhere.
You Have To Eat
and that is one reason why I am introducing you to SYNC. With jobs scare and ten year T-Bills now paying 1.5% or less than inflation, we all could use a little bounce. I will reveal the other two reasons in a moment, but let me digress here to explain myself. I have mixed emotions about influencing people about a stock selection. If it fails, I not only suffer economically, but emotionally because my conscious will bother me, especially at bedtime. I have offered very few stock picks. I mostly choose between food and energy because I understand their fundamentals which leads back to investing.
Two Camps
in investing. The first which controls more than half the market centers on a companies product in relationship to profit margin, sales growth and the economy as a whole for that product. This is fundamental thinking. The first two paragraphs on SYNC is fundamental analysis. I consider myself an experienced trader, but I still have a long way to go.
The other side to investing centers on charts, price and volume. I follow Tom O'Brien of TFNN.com. These analytic traders do not need to know anything about a company, not even its name. They can project a price target solely from chart reading. I have looked at the price action and volume of SYNC after I was made aware of the company from National Inflation Association(NIA). They had all the fundamental info. I have done the homework on the technical. I like stocks that I can understand the fundamental and the charts indicate a positive trend. Like Tom O'Brien says,"if more people are in the store to buy, the stock rises and if nobody is buying and returning product, the stock will decline." On Friday the stock market had a terrible day as well as SYNC. It was down 18.71% to $11.95. Are you crazy? A stock that is down that much? Still, the stock was up for the week with more up volume than down volume which also shows relative strength which is another analytic indicator.
This Week
SYNC will be in the business news because they are presenting at the Digital Living Conference in Dallas and speaking at the 7th Annual Needham Internet & Digital Media Conference in New York. These two events will only add to showcase the company, which by the way reported 2Q revenues up 58% from the 2Q of 2011. They report next on 22 July 2012. I expect higher revenues and super guidance because of the upcoming Olympics. The other two reasons are thus. I have a self interest in SYNC because I have purchased shares and I would hope that by now, dear readers that you have a little faith in me to speak the truth and I'd like all of you to profit as well as me. Disclaimer: do not buy because I purchased or indicated for you to purchase until you have professional advice. Nevertheless, now you have ammo to question your professional. Good trading.
Liars and Crooks: This week we return to Helicopter Ben. Bernanke was appearing before Congress when Ron Paul asked him if gold was money. Ben said it wasn't. Well, lo and behold, this past week, Germany said that they would make direct loans to needy Euro members provided that they put 20% down like our old home loan applications except Germany demaned the down payment be in gold. So, it must be better than money, Ben. End the Fed!
Synacor Inc.
is the only pure play on the stock market in TV Everywhere. SYNC was an IPO back in February of this year. It is a profitable company that became public at the right time since many cable companies like FIOS will be using SYNCs platform. NBC who will carry the 2012 Olympics will soon be promoting its sponsorship and TV Everywhere.
You Have To Eat
and that is one reason why I am introducing you to SYNC. With jobs scare and ten year T-Bills now paying 1.5% or less than inflation, we all could use a little bounce. I will reveal the other two reasons in a moment, but let me digress here to explain myself. I have mixed emotions about influencing people about a stock selection. If it fails, I not only suffer economically, but emotionally because my conscious will bother me, especially at bedtime. I have offered very few stock picks. I mostly choose between food and energy because I understand their fundamentals which leads back to investing.
Two Camps
in investing. The first which controls more than half the market centers on a companies product in relationship to profit margin, sales growth and the economy as a whole for that product. This is fundamental thinking. The first two paragraphs on SYNC is fundamental analysis. I consider myself an experienced trader, but I still have a long way to go.
The other side to investing centers on charts, price and volume. I follow Tom O'Brien of TFNN.com. These analytic traders do not need to know anything about a company, not even its name. They can project a price target solely from chart reading. I have looked at the price action and volume of SYNC after I was made aware of the company from National Inflation Association(NIA). They had all the fundamental info. I have done the homework on the technical. I like stocks that I can understand the fundamental and the charts indicate a positive trend. Like Tom O'Brien says,"if more people are in the store to buy, the stock rises and if nobody is buying and returning product, the stock will decline." On Friday the stock market had a terrible day as well as SYNC. It was down 18.71% to $11.95. Are you crazy? A stock that is down that much? Still, the stock was up for the week with more up volume than down volume which also shows relative strength which is another analytic indicator.
This Week
SYNC will be in the business news because they are presenting at the Digital Living Conference in Dallas and speaking at the 7th Annual Needham Internet & Digital Media Conference in New York. These two events will only add to showcase the company, which by the way reported 2Q revenues up 58% from the 2Q of 2011. They report next on 22 July 2012. I expect higher revenues and super guidance because of the upcoming Olympics. The other two reasons are thus. I have a self interest in SYNC because I have purchased shares and I would hope that by now, dear readers that you have a little faith in me to speak the truth and I'd like all of you to profit as well as me. Disclaimer: do not buy because I purchased or indicated for you to purchase until you have professional advice. Nevertheless, now you have ammo to question your professional. Good trading.
Liars and Crooks: This week we return to Helicopter Ben. Bernanke was appearing before Congress when Ron Paul asked him if gold was money. Ben said it wasn't. Well, lo and behold, this past week, Germany said that they would make direct loans to needy Euro members provided that they put 20% down like our old home loan applications except Germany demaned the down payment be in gold. So, it must be better than money, Ben. End the Fed!
Sunday, May 27, 2012
Three Strikes and Out for Corporate Felons,Too...L&C
You usually hear a lot of rhetoric during election years dealing with crime, however crime has been down and therefore you don't see stories along the lines like "Three Strikes and You Are Out." This refers to habitual criminals committing crime-after-crime year in and out. Now, the sentence is mandatory after the third felony. What I'd like to see since the Supreme Court has ruled that corporations are entities who can commit untold dollars into political campaigns, apply this same thinking to corporate crime.
Big Pharma
sets the standard for fellow felons in this category. Am I the only one who thinks after hearing the latest commercial for some new drug that Big Pharma is pushing, who is in such a sad medical state that they have to try this drug which under the disclaimer to which is a crime also that one can lose their eyesight, go deaf, lose a kidney or liver or both, erectile dysfunction or a host of other dysfunctions, but hey, you will have instant relief from your previous ailment, although our new drug does not say it will cure you of it. Are you kidding me? Where and who is looking out for the public interest?
FDA
does a lot of good with a little budget, however they suffer from the same fate as many other good ideas. The Republicans dominate the Democrats in this technique. If you can't stop the legislation, wait until you win the big office and then, appoint your people to resume the status quo.
This example leads the list when it comes to our water and what pollutants and amount are allowed to flow into it. The FDA sides with big pharma to allow Bis phenol-A, the plastic chemical, saying that it is not harmful to human health when it is.
Then, there is the so-called political debate. Less government more jobs. The Ayn Rand objection to rules and regulation. This is so absurd and foolish beyond conversation or debate. Yes, too many rules and regulations are harmful to business and growth, but no rule thinking was crushed by Machiavelli in the 1500s. This is why Teddy Roosevelt found our National Park System. The act stops the greedy idiots who would cut every tree and leave the stumps to blithe the land or use excess mercury or other toxins in mines and leave the local community with poised water. No rules is the wild west and I think the pioneer days are over.
No Respect for the Law or Us
Recently, Pfizer was found guilty through its Warner-Lambert unit of two felonies and paid a fine of $300 million. It wasn't the first time for them or any of the big pharma companies. These companies push drugs like Neurontin that are not even approved by the FDA or for the ailment in question. Have you ever heard of Bextra? It's off the market because it was found to be so harmful, it could write its own death book. Pfizer like the others don't care. The bean counters tell them, look the profits we make will cover the fines and civil cases many times over. Bextra paid the largest fine ever at $1.9 billion and another billion in civil cases, but earned around $16.8 for the company. Put them out of business if this is their thinking and to me that includes and means you cannot blame a unit of the company, but the whole company, parent included. No rules and regulations, get out of town!
This is one reason why you get many critics who say that the FDA is the biggest booster for pharmaceutical companies. Case in point:Ranbaxy Laboratories. They are under investigation for many crimes like substituting inferior ingredients that could cause new dangerous reactions, making substandard medications and fraudulently trying to cover their tracks. Talk about crime-after-crime in Ranbaxy's case, the number at present is (18)eighteen times. Enough is enough! Also, I don't want to hear about the threat of bankruptcy. This is another field where lawyers have made the laws for the wealthy and the individuals, workers or investors get the shaft. No! If you violate the law three times with what would be considered a felony if done by an individual, then, you are out of business because you have violated the public trust. Close the company and pass out the assets. End of story.
LIARS and CROOKS: This week we go to Spain and its fourth largest bank, Bankia. This bank was formed from seven bad banks with tons of money, sounds like our Feds thinking, but it is not doing so good. In fact, it has asked for more money to cover their accounts. I think that these criminals should be put in jail. Check out the recent record. In 2011 Bankia claimed to have made $300 million euros when in reality, they lost $3 billion euros. In the last three year period Spain has restructured the banking system four times. Obama, looking for a new Fed chief? The head of the finance ministry similar to our treasury assured the public that only $8 billion euros was needed. Today, it was learned that the banking system needs another $36 billion euros to remain solvent. First Greece, now Spain. The ECB should read my article on King Solomon's Solution and of course, this is yet another example why we should End the Fed!
Big Pharma
sets the standard for fellow felons in this category. Am I the only one who thinks after hearing the latest commercial for some new drug that Big Pharma is pushing, who is in such a sad medical state that they have to try this drug which under the disclaimer to which is a crime also that one can lose their eyesight, go deaf, lose a kidney or liver or both, erectile dysfunction or a host of other dysfunctions, but hey, you will have instant relief from your previous ailment, although our new drug does not say it will cure you of it. Are you kidding me? Where and who is looking out for the public interest?
FDA
does a lot of good with a little budget, however they suffer from the same fate as many other good ideas. The Republicans dominate the Democrats in this technique. If you can't stop the legislation, wait until you win the big office and then, appoint your people to resume the status quo.
This example leads the list when it comes to our water and what pollutants and amount are allowed to flow into it. The FDA sides with big pharma to allow Bis phenol-A, the plastic chemical, saying that it is not harmful to human health when it is.
Then, there is the so-called political debate. Less government more jobs. The Ayn Rand objection to rules and regulation. This is so absurd and foolish beyond conversation or debate. Yes, too many rules and regulations are harmful to business and growth, but no rule thinking was crushed by Machiavelli in the 1500s. This is why Teddy Roosevelt found our National Park System. The act stops the greedy idiots who would cut every tree and leave the stumps to blithe the land or use excess mercury or other toxins in mines and leave the local community with poised water. No rules is the wild west and I think the pioneer days are over.
No Respect for the Law or Us
Recently, Pfizer was found guilty through its Warner-Lambert unit of two felonies and paid a fine of $300 million. It wasn't the first time for them or any of the big pharma companies. These companies push drugs like Neurontin that are not even approved by the FDA or for the ailment in question. Have you ever heard of Bextra? It's off the market because it was found to be so harmful, it could write its own death book. Pfizer like the others don't care. The bean counters tell them, look the profits we make will cover the fines and civil cases many times over. Bextra paid the largest fine ever at $1.9 billion and another billion in civil cases, but earned around $16.8 for the company. Put them out of business if this is their thinking and to me that includes and means you cannot blame a unit of the company, but the whole company, parent included. No rules and regulations, get out of town!
This is one reason why you get many critics who say that the FDA is the biggest booster for pharmaceutical companies. Case in point:Ranbaxy Laboratories. They are under investigation for many crimes like substituting inferior ingredients that could cause new dangerous reactions, making substandard medications and fraudulently trying to cover their tracks. Talk about crime-after-crime in Ranbaxy's case, the number at present is (18)eighteen times. Enough is enough! Also, I don't want to hear about the threat of bankruptcy. This is another field where lawyers have made the laws for the wealthy and the individuals, workers or investors get the shaft. No! If you violate the law three times with what would be considered a felony if done by an individual, then, you are out of business because you have violated the public trust. Close the company and pass out the assets. End of story.
LIARS and CROOKS: This week we go to Spain and its fourth largest bank, Bankia. This bank was formed from seven bad banks with tons of money, sounds like our Feds thinking, but it is not doing so good. In fact, it has asked for more money to cover their accounts. I think that these criminals should be put in jail. Check out the recent record. In 2011 Bankia claimed to have made $300 million euros when in reality, they lost $3 billion euros. In the last three year period Spain has restructured the banking system four times. Obama, looking for a new Fed chief? The head of the finance ministry similar to our treasury assured the public that only $8 billion euros was needed. Today, it was learned that the banking system needs another $36 billion euros to remain solvent. First Greece, now Spain. The ECB should read my article on King Solomon's Solution and of course, this is yet another example why we should End the Fed!
Sunday, May 20, 2012
Student Loans: A Solution...L&C
This is a topic that OWS has bought to light and being an idea person, I have thought about at length. Frankly, I'm ambivalent about it. I know many students borrowed an excessive amount of money to which they bought cars, gadgets and the like while I did not. I worked almost full-time and although I really wanted to play football at this level, financially I could not. So, when I hear and read that it is not their fault and they cannot repay their debt, well, it was your decision. Live with it. That is my inner thinking, however there is more to the story. College bean counters realized what real estate agents already knew. If interest rates rise, homes values decrease in order to qualify more buyers. Conversely, if rates decline, prices rise. Well, interest rates have declined and tuition's have been raised. Kids, paid the higher costs, but the financial crisis caught them off guard and this is another dark side story to Wall Street's greed and sins.
Education
is it something that we really care about or just mouth service? If we agree like the Adams, Jefferson, Franklin, and Madison who had hopes for an educated citizen. In their minds it was the only way for a Democratic system to work. Well, then, I have a suggestion. If it is just lip service which the status quo desires, we will continue to decline as a nation and society. We will not full fill the hopes and dreams of the enlightened founders, but the desire for greater riches of the elite founders who by the way control both political parties today.
FDIC For Student Loans
What? More government?! More debt! Get out of town! Give me a moment to explain. If we really want educated citizens, improve our economy and standard of living for all Americans, let me take a page out of our agricultural book, an application from the banking industry to produce a better system for student loans.
Do you realize that farmers have a system of insurance which covers crop failures? The government will pay a farmer the expected results of his crop if it fails for reasons like drought, the environment, etc. This protection serves not only the farmer, but the banker who lends to him. He knows he will be repaid for the loan. Now, stay with me. FDIC charges member banks a fee which protects the deposits which makes our banking system so strong. Check out the latest events in Greece, Spain and Italy and you can understand the importance of FDIC. What I'm suggesting is this: Eliminate all usury on student loans. These loans will be made at costs, however a fee on every loan will go into a fund that will repay the loan if the student defaults. The government will be on the tab to cover any shortfall. On the students end, if they claim bankruptcy, the government places a 1% lien on the students wages for life until the loan has been repaid. This idea offers fairness, responsibility and help in a field that means so much to our nation's future.
LIARS and CROOKS: This week we go north of the border. Quebec just passed a law that defines tyranny. Instead of addressing the complaints of OWS / Canada, they instituted a law that says any demonstration that has over 50 people, a permit must be granted or every demonstrator faces a fine of, get this, $5,000. It gets worse. If the demonstrator is found to be a union member, forget about it, because they lock you up and throw the key away. This is a classic example of small minded, bureaucratic people who wield unrestrained exercise of power, produces undue-severity of harshness. Over-turn this act or the violence it breeds is on your conscious if you have one.
Education
is it something that we really care about or just mouth service? If we agree like the Adams, Jefferson, Franklin, and Madison who had hopes for an educated citizen. In their minds it was the only way for a Democratic system to work. Well, then, I have a suggestion. If it is just lip service which the status quo desires, we will continue to decline as a nation and society. We will not full fill the hopes and dreams of the enlightened founders, but the desire for greater riches of the elite founders who by the way control both political parties today.
FDIC For Student Loans
What? More government?! More debt! Get out of town! Give me a moment to explain. If we really want educated citizens, improve our economy and standard of living for all Americans, let me take a page out of our agricultural book, an application from the banking industry to produce a better system for student loans.
Do you realize that farmers have a system of insurance which covers crop failures? The government will pay a farmer the expected results of his crop if it fails for reasons like drought, the environment, etc. This protection serves not only the farmer, but the banker who lends to him. He knows he will be repaid for the loan. Now, stay with me. FDIC charges member banks a fee which protects the deposits which makes our banking system so strong. Check out the latest events in Greece, Spain and Italy and you can understand the importance of FDIC. What I'm suggesting is this: Eliminate all usury on student loans. These loans will be made at costs, however a fee on every loan will go into a fund that will repay the loan if the student defaults. The government will be on the tab to cover any shortfall. On the students end, if they claim bankruptcy, the government places a 1% lien on the students wages for life until the loan has been repaid. This idea offers fairness, responsibility and help in a field that means so much to our nation's future.
LIARS and CROOKS: This week we go north of the border. Quebec just passed a law that defines tyranny. Instead of addressing the complaints of OWS / Canada, they instituted a law that says any demonstration that has over 50 people, a permit must be granted or every demonstrator faces a fine of, get this, $5,000. It gets worse. If the demonstrator is found to be a union member, forget about it, because they lock you up and throw the key away. This is a classic example of small minded, bureaucratic people who wield unrestrained exercise of power, produces undue-severity of harshness. Over-turn this act or the violence it breeds is on your conscious if you have one.
Sunday, May 13, 2012
The Mouse Roared, Are the States Next?...L&C
Say what? Title sounds confusing, but it refers to a classic comedy movie from the novel by Leonard Wibberley. Do you know, The Mouse That Roared? It is the story of a tiny duchy somewhere in the Alps in Europe that faces an economic disaster because a company in the US made a cheaper version of their signature wine which was their total income for their economy.
Solution
They declare war on the US with the plan to surrender immediately. They figured that the US would then provide a goodwill package of relief. With this aid they could payoff their debts and maybe some protection for their one product, the Duchy Wine.
Are the States Next?
Jump to today! The total non funded pension plans of the 50 US states is $369 billion and mostly all these states today are suffering deficits because of the financial crisis of 2008. Where are they going to get the necessary funds to pay their state workers as many are reaching the retirement age? To put this figure in perspective consider a correlation to Greece. The Greek deficit totals $35 billion. The cumulative totals of our states is 10times that amount. Now, do you get an idea of our next serious problem that few if any, are talking about.
A Closer Look
On top of the totem pole for the states is the recession cut the value of their individual pension plan portfolios. For example, the three biggest in our biggest state, California. The three, Calper, Calstks, and UCRS lost $109 billion with a "B." Who are they gonna call, Ghost Busters?
Illinois is another typical example. They have to take 15% of this years revenues to cover the shortfall for their state workers. Each year that percentage will rise to a point where they can't pay. As it is today for other state bills in Illinois which has a payout date as long as six months.
New Hampshire wants to form a study at a cost of $1 billion which is correctly opposed by their state unions because that new debt will only compound the present debt of the unfunded obligations.
War On The US
By 2017 Louisiana will be the first to declare war because they won't have enough revenue to pay any of their bills with the state pension on top of the list. Connecticut will be due about the same time. I can see the alliance now...I also see the Fed adding these bills to our national debt. End the Fed!
Connecticut Yankee On Bourbon Street
By the way Moody's recently downgraded Connecticut's debt rating.
LIARS and CROOKS: This week the fickle award is just getting polished to be delivered at a later date. One must give credit where credit is due. Jamie Dimon deserves respect for admitting the serious shortfall suffered by his company, JPMorgan Chase. He says they lost $2 billion due to a defective bet on a risk derivative. To me without knowing all the facts, but some knowledge to what is a derivative purpose. It is insurance and that means a policy and that means this loss is not a one time event. It will compound until the derivative ends, to which I repeat, End the Fed!
Solution
They declare war on the US with the plan to surrender immediately. They figured that the US would then provide a goodwill package of relief. With this aid they could payoff their debts and maybe some protection for their one product, the Duchy Wine.
Are the States Next?
Jump to today! The total non funded pension plans of the 50 US states is $369 billion and mostly all these states today are suffering deficits because of the financial crisis of 2008. Where are they going to get the necessary funds to pay their state workers as many are reaching the retirement age? To put this figure in perspective consider a correlation to Greece. The Greek deficit totals $35 billion. The cumulative totals of our states is 10times that amount. Now, do you get an idea of our next serious problem that few if any, are talking about.
A Closer Look
On top of the totem pole for the states is the recession cut the value of their individual pension plan portfolios. For example, the three biggest in our biggest state, California. The three, Calper, Calstks, and UCRS lost $109 billion with a "B." Who are they gonna call, Ghost Busters?
Illinois is another typical example. They have to take 15% of this years revenues to cover the shortfall for their state workers. Each year that percentage will rise to a point where they can't pay. As it is today for other state bills in Illinois which has a payout date as long as six months.
New Hampshire wants to form a study at a cost of $1 billion which is correctly opposed by their state unions because that new debt will only compound the present debt of the unfunded obligations.
War On The US
By 2017 Louisiana will be the first to declare war because they won't have enough revenue to pay any of their bills with the state pension on top of the list. Connecticut will be due about the same time. I can see the alliance now...I also see the Fed adding these bills to our national debt. End the Fed!
Connecticut Yankee On Bourbon Street
By the way Moody's recently downgraded Connecticut's debt rating.
LIARS and CROOKS: This week the fickle award is just getting polished to be delivered at a later date. One must give credit where credit is due. Jamie Dimon deserves respect for admitting the serious shortfall suffered by his company, JPMorgan Chase. He says they lost $2 billion due to a defective bet on a risk derivative. To me without knowing all the facts, but some knowledge to what is a derivative purpose. It is insurance and that means a policy and that means this loss is not a one time event. It will compound until the derivative ends, to which I repeat, End the Fed!
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