...And the pink slips keep coming. The big boys are keeping the stock market at highs and with the media in their pocket, there is little chance that the public is aware of what is happening on Main St. All across this nation small towns and villages have created a new form of outsourcing. The recession has caused them to cut spending due to lower revenues, especially through real estate. In their search to find more money to provide services, a new twist has developed. These small notches on the map can't afford these services, however they are afraid to cut the cord. They may lose more citizens who may move to a more affluent area, which means even less revenues in a downward cycle.
Solution?
Send the work to nearby locations, lower our costs by cutting workers, eliminating space/rental costs and equipment servicing. In Molalla, Ore. they have outsourced their building permit and inspections to Clackamas, County. They saved over $400,000.
Lowell and Westfir, Ore. outsourced traffic patrols and criminal complaints to nearby Oak Ridge, Ore. Oak Ridge then closed its 911 dispatch service and outsourced it to Lane County Sheriff Department. The savings spread along with the idea. Eugene, Ore now gives its legal work to Lane County Sheriff Dept.
There is on record over 700 cases of New York towns and villages off-loading public-sector tasks to larger government agencies.
Not Just Speeding Tickets
In California almost all rural areas use the California Highway Patrol to keep local law and order. In Florida many counties share 911 dispatch service and sheriff patrols. Bottom line: local government employment is following the lead by corporate America. Agencies are cutting costs which sadly means jobs too.
Liars and Crooks:This week goes to Commodity Futures Trading Commission who are about to drop their investigation into the manipulation of the price of silver on the exchange. Amazingly, Bart Chilton, the Commissioner stated,"he believed there had been "fraudulent efforts" to "deviously control" the silver price. Who benefits? JP Morgan and HSBC. Keep this in mind when the OWS stage their demonstration on 17 Sept. as they are carted off to jail.
Monday, August 6, 2012
Monday, July 30, 2012
Chance to Make $ on Black Gold...L&C
The media business will get its biggest boost from an election year ever, but a safer, surer bet to make some bread. is on oil. At the moment oil is range bound traded with upper resistance at $100 a barrel and the low end touching $78 per barrel. When trading, it is important to understand the trend of the market. It too is range bound. As this hits the blog-line, the market is touching its highs from April of this year. I'm calling it a top. I see a severe market correction beginning the 3rd of August. I know, I know. This is a Presidential Year Cycle. I heard it. I heard it. The US is growing, although slowly, nevertheless, growing with still positive earnings from its corporations. Ever hear of the
Bradley Model?
It is pointing DOWN! I do not have a PHD after my name and the only place you will read me is here, but I don't mix words. I put it down in plane language. The market will definitely touch 950 on the S&P which means everything will come down in price to which if you have anything left, buy some oil at that point.
Bakken Oil
is the place where I would place my bet. You have many small companies with low P/E ratio with big acreage and a product that is in demand. You could parlay this opportunity with the future alternative fuel for cars, Compressed Natural Gas(CNG). I could post a few names, but after the Synacor disaster, I'm a little gun shy. You can easily do a Google search to find names with these ideas.
Support
comes from many sources, including OPEC. Saudi Arabia, according to Dr.Ken Moors, an energy consultant, needs oil to be priced at $125 a barrel to make ends meet. You see, the Arabs count on the revenues to pay for all the services that they provide, least they begin to suffer from the Arab Spring contagion. So, when the Fed prints money and the value of the dollar goes south, the Arabs need more dinero for their petro.
The Russians also support higher prices, but for different reasons. It seems that corporations cannot deal with Russia, because Russians are paranoid. They make deals, but as soon as they begin to pay off, the Russians begin second guessing the original contract. They always feel that they are being cheated. Putin, step back! Look at the recent history of your nation. You guys fail at every deal you make. Do you know what the result of all this will be? No one will deal with you and you will be isolated again. Poor again! I could point out deals with Chevron, Exxon and the most recent blowup with BP. Wake Up! If you are making money, then you should be progressing as a nation. If you fail to honor contracts, it is all on you, period!
China and India both have over one billion people. They need everything. China just brought a Canadian company, Nexen. In the future countries will put a limit on takeovers by outside interest. It is already happening in South America with mining companies. Sovereign wealth funds add to this mix and together with limited resources, makes for higher prices. Bottom line: oil is not going anywhere until there is another practical energy source like CNG to take its place. In the meantime you can at least get a rebate from all the higher prices that you will be paying at the pump.
LIARS and CROOKS:The Fed, ECB, the UK Central Bank, central banks of the BRIC nations and elsewhere who only see growth by printing money and forcing it into the system, irregardless of the consequences. We will all suffer from their limited, anti-gold, fiat thinking ways. End the Fed!
Bradley Model?
It is pointing DOWN! I do not have a PHD after my name and the only place you will read me is here, but I don't mix words. I put it down in plane language. The market will definitely touch 950 on the S&P which means everything will come down in price to which if you have anything left, buy some oil at that point.
Bakken Oil
is the place where I would place my bet. You have many small companies with low P/E ratio with big acreage and a product that is in demand. You could parlay this opportunity with the future alternative fuel for cars, Compressed Natural Gas(CNG). I could post a few names, but after the Synacor disaster, I'm a little gun shy. You can easily do a Google search to find names with these ideas.
Support
comes from many sources, including OPEC. Saudi Arabia, according to Dr.Ken Moors, an energy consultant, needs oil to be priced at $125 a barrel to make ends meet. You see, the Arabs count on the revenues to pay for all the services that they provide, least they begin to suffer from the Arab Spring contagion. So, when the Fed prints money and the value of the dollar goes south, the Arabs need more dinero for their petro.
The Russians also support higher prices, but for different reasons. It seems that corporations cannot deal with Russia, because Russians are paranoid. They make deals, but as soon as they begin to pay off, the Russians begin second guessing the original contract. They always feel that they are being cheated. Putin, step back! Look at the recent history of your nation. You guys fail at every deal you make. Do you know what the result of all this will be? No one will deal with you and you will be isolated again. Poor again! I could point out deals with Chevron, Exxon and the most recent blowup with BP. Wake Up! If you are making money, then you should be progressing as a nation. If you fail to honor contracts, it is all on you, period!
China and India both have over one billion people. They need everything. China just brought a Canadian company, Nexen. In the future countries will put a limit on takeovers by outside interest. It is already happening in South America with mining companies. Sovereign wealth funds add to this mix and together with limited resources, makes for higher prices. Bottom line: oil is not going anywhere until there is another practical energy source like CNG to take its place. In the meantime you can at least get a rebate from all the higher prices that you will be paying at the pump.
LIARS and CROOKS:The Fed, ECB, the UK Central Bank, central banks of the BRIC nations and elsewhere who only see growth by printing money and forcing it into the system, irregardless of the consequences. We will all suffer from their limited, anti-gold, fiat thinking ways. End the Fed!
Sunday, July 22, 2012
Fiat Versus Gold...L&C
The status quo for fiat banking have all the elements on their side. They control through central banks that paper is currency and gold is a barbaric relic. They have joined with national media's in depicting gold bugs has fanatics of doom. They control all laws governing currency and through this aspect have outlawed gold as a vehicle of exchange and no bank will pay interest on it like paper money. When Ron Paul recently asked Ben Bernanke if gold was money, he said no. I could go on-and-on, but I think that picture has been painted. So, why gold?
Well, if I had a blog back in 2000, I would have recommended gold under $300 per ounce and you would be very happy today. However, I am going a different way this week as I will quote various people and you get a second opinion in a round-about way.
In leading up to the parade of observations, some basic facts need to recognised. The leading central banks of the world have increased their money supply by $12 trillion to spur their economies. So far. they are failing as only China with a questionable 7.6% growth rate is growing. The US is less than 2%, Europe is in recession and the emerging markets are stuck in neutral. I say China is questionable because the central Communist Party dictates that certain quotas must be met and regional managers are known to fluff the books to obtain those results along with other previous facts about the Chinese economy that I have written about in the past.
Anniversary
On the 15th of August 2012 will be the 41st anniversary of fiat banking control of money supply. At present the UK central bank has created the most money out of thin air at an 382% since the year 2000. We are not the worst, yet. The Swiss National Bank expanded money at an 212% clip and all central banks together at a 15% growth rate. According to Ludwig von Mises of the Austrian School of economics, this is inflation.
Prediction
I predict that sometime during the 42cd year a financial crisis will occur as Herbert Stein once said,"If something can't go on forever, it will stop." I base my prediction on this comment from Ayn Rand,"You can avoid reality, but you cannot avoid the consequences of avoiding reality."
Do you save? Have a CD? It is tough when banks and treasuries only pay negative interest rates. Negative rates are those that won't pay enough interest to cover inflation and or the value of the attached currency. With that in mind I defer to my pisan brother of old, Leonardo DaVinci, "Simplicity is the ultimate sophistication." Gold is simple. It is backed by nothing, but everything else seeks to be backed by gold. Compare gold with the modern paper device the derivative. These financial credits are so complex that they cannot even be explained or understood.
Weapons of Mass Financial Destruction
as Warren Buffett once said about derivatives. This paper device is also a form of credit and according to the Austrian School of Economic which I favor, credit is the source of inflation. It is not the higher price of food, fuel or other needs that spur inflation. They are only the visible results, but credit is the cause. Money printing is credit as Samuel Johnson says,"The future is purchased by the present." How about going to the mouth of the horse? In this tidbit from Dennis Lockhart, Federal Reserve of Bank of Atlanta,"In theory, there is no limit to central bank expanding its balance sheet."
Well, Dennis, consider this, if interest rates return to normal historical rates of just 5%, it will result in over a 12% cost to our federal budget. You don't want the math at higher rates. Like my birthday buddy, Ben Franklin said,"He who goes borrowing, goes sorrowing." Our founders would agree with Mises(Austrian School) because they chose gold to be our currency based on history of monetary stability. Even aristocrats agree like Otto von Habsburg who adds,"History is a teacher nobody listens to." Even further back in time, Aristotle favored good money which he defined as having a high cost of production whereby all knew and respected its value. How about today? Alan Greenspan. Yes, the former chief of the Fed who in March 2011 said,"Gold, unlike all other commodities, is a currency(did you hear that Bernanke?)...an escape from what is perceived to be a fiat money system, paper money that seems to be deteriorating." Not a fan of Mises? How about John Stuart Mill who says the same thing in a different way. "Prices do not destroy capital, they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." Common sense tells you that at some point something has to give or change. Two modern researchers, Reinhart and Rogoff call this concept the
"Bang Point."
It is based on the fact that government revenues do not meet expenses causing a collapse in confidence of credit. I believe Aldous Huxley said the same thing with his,"Facts do not cease to exist because they are ignored." Taxes can't help this problem because the numbers are in disproportion to reality like Austin O'Malley once said,"In levying taxes and in shearing sheep, it is well to stop when you get down to skin."
Bottom Line:
The bankers in charge only know one thing and that is expansion of money to generate economic growth. Albert Einstein would say, "problems cannot be solved by the same rationale that created them." There you have it. Ultimately, it is your choice, but after the disaster in Colorado movie theater, I defer to my good buddy, JL who says,"Not every day is gold, but it's all good." You see the lost soul did not understand this is God's world and it is up to us to leave it better not worse.
LIARS and CROOKS: This week goes to NIA who have been pumping the stock that I also wrote about, Synacur(SYNC). I think that it is possible that a new scam has developed whereby one group buys a stock on margin and this allows another group to sell it or short the same stock as they feed each other. The original stock purchase is covered because of the low entry buy point and thus, every and anyone who buys after that price is at risk to be ripped off like me and countless others. Too bad because the company is solid. The 1919 Sox scandel lives anew. It wasn't baseball, just the players.
Well, if I had a blog back in 2000, I would have recommended gold under $300 per ounce and you would be very happy today. However, I am going a different way this week as I will quote various people and you get a second opinion in a round-about way.
In leading up to the parade of observations, some basic facts need to recognised. The leading central banks of the world have increased their money supply by $12 trillion to spur their economies. So far. they are failing as only China with a questionable 7.6% growth rate is growing. The US is less than 2%, Europe is in recession and the emerging markets are stuck in neutral. I say China is questionable because the central Communist Party dictates that certain quotas must be met and regional managers are known to fluff the books to obtain those results along with other previous facts about the Chinese economy that I have written about in the past.
Anniversary
On the 15th of August 2012 will be the 41st anniversary of fiat banking control of money supply. At present the UK central bank has created the most money out of thin air at an 382% since the year 2000. We are not the worst, yet. The Swiss National Bank expanded money at an 212% clip and all central banks together at a 15% growth rate. According to Ludwig von Mises of the Austrian School of economics, this is inflation.
Prediction
I predict that sometime during the 42cd year a financial crisis will occur as Herbert Stein once said,"If something can't go on forever, it will stop." I base my prediction on this comment from Ayn Rand,"You can avoid reality, but you cannot avoid the consequences of avoiding reality."
Do you save? Have a CD? It is tough when banks and treasuries only pay negative interest rates. Negative rates are those that won't pay enough interest to cover inflation and or the value of the attached currency. With that in mind I defer to my pisan brother of old, Leonardo DaVinci, "Simplicity is the ultimate sophistication." Gold is simple. It is backed by nothing, but everything else seeks to be backed by gold. Compare gold with the modern paper device the derivative. These financial credits are so complex that they cannot even be explained or understood.
Weapons of Mass Financial Destruction
as Warren Buffett once said about derivatives. This paper device is also a form of credit and according to the Austrian School of Economic which I favor, credit is the source of inflation. It is not the higher price of food, fuel or other needs that spur inflation. They are only the visible results, but credit is the cause. Money printing is credit as Samuel Johnson says,"The future is purchased by the present." How about going to the mouth of the horse? In this tidbit from Dennis Lockhart, Federal Reserve of Bank of Atlanta,"In theory, there is no limit to central bank expanding its balance sheet."
Well, Dennis, consider this, if interest rates return to normal historical rates of just 5%, it will result in over a 12% cost to our federal budget. You don't want the math at higher rates. Like my birthday buddy, Ben Franklin said,"He who goes borrowing, goes sorrowing." Our founders would agree with Mises(Austrian School) because they chose gold to be our currency based on history of monetary stability. Even aristocrats agree like Otto von Habsburg who adds,"History is a teacher nobody listens to." Even further back in time, Aristotle favored good money which he defined as having a high cost of production whereby all knew and respected its value. How about today? Alan Greenspan. Yes, the former chief of the Fed who in March 2011 said,"Gold, unlike all other commodities, is a currency(did you hear that Bernanke?)...an escape from what is perceived to be a fiat money system, paper money that seems to be deteriorating." Not a fan of Mises? How about John Stuart Mill who says the same thing in a different way. "Prices do not destroy capital, they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." Common sense tells you that at some point something has to give or change. Two modern researchers, Reinhart and Rogoff call this concept the
"Bang Point."
It is based on the fact that government revenues do not meet expenses causing a collapse in confidence of credit. I believe Aldous Huxley said the same thing with his,"Facts do not cease to exist because they are ignored." Taxes can't help this problem because the numbers are in disproportion to reality like Austin O'Malley once said,"In levying taxes and in shearing sheep, it is well to stop when you get down to skin."
Bottom Line:
The bankers in charge only know one thing and that is expansion of money to generate economic growth. Albert Einstein would say, "problems cannot be solved by the same rationale that created them." There you have it. Ultimately, it is your choice, but after the disaster in Colorado movie theater, I defer to my good buddy, JL who says,"Not every day is gold, but it's all good." You see the lost soul did not understand this is God's world and it is up to us to leave it better not worse.
LIARS and CROOKS: This week goes to NIA who have been pumping the stock that I also wrote about, Synacur(SYNC). I think that it is possible that a new scam has developed whereby one group buys a stock on margin and this allows another group to sell it or short the same stock as they feed each other. The original stock purchase is covered because of the low entry buy point and thus, every and anyone who buys after that price is at risk to be ripped off like me and countless others. Too bad because the company is solid. The 1919 Sox scandel lives anew. It wasn't baseball, just the players.
Sunday, July 15, 2012
Three Cities Down With A Nation To Follow...L&C
Tired of seeing the Obama jobs ad? The one where the president claims that CEO Romney made jobs in China, India and elsewhere. Of course, challenger Romney counters with his ad saying, the president had a record stimulus and the results: poor job numbers, record deficits with no growth plan. Too bad that neither candidate knows how bad it really is on Main St.
Three Cities in Two Weeks
have defaulted in California, our leading industrial state. If the best can't make it, who can? Folks, it is not just California, it is happening and has been happening throughout the nation. If I were running for the highest office in the land, I'd have a plan to help and secure our future. What do we get? He said this on such-a-such date. Neither candidate understands the dangers of our economic situation that is becoming an epidemic with no answers to address the red flags of a serious virus that is spreading within our states.
Orange County
back in 1994 set off the early warning with its bankruptcy, but anyone suggesting future problems was drown out in criticism. When Jefferson County first flirted with bankruptcy and eventually fell into default, Meredith Whitney in 2010 was abused by the media for saying that she saw many more municipalities going bust in the near-term. Just last week, ex-New York State Assemblyman, Brodsky said these defaults are just a tip-of-the-iceberg. Know what? They are both right!
Wisconsin Recall
ended up being a plus for Governor Walker and a big negative for union labor. I agree that government workers do receive an excessive pay package when you add up all the benefits with pension on top of the list. However, this is not the cause for the financial problems that exist today. When you look under the hood, it is either a serious job loss or the housing bubble that has caused revenues to decline to a negative cash flow and either Wall Street or Washington or both is the root cause for these problems. Look at Central Falls, Rhode Island! They lost their textile plant. Now, they are losing their standard of living. Washington did not protect American workers! They do in every globalized nation except here. Scranton, Pa is in the cross hairs for the same reason. Guess what they are doing?
Taxes Up 80%
and all city workers receive minimum wage. Can't afford that. Can you? Did Obama or Romney address this situation? How about Harrisburg, Pa.? They were rejected in bankruptcy court because the city was too small, but the state put them under a receiver. Personally, I'd take Welker of the Pats. He has great hands.
Mammoth Lakes, Vallejo, Stockton, California are all screaming the same tune. We cannot afford to live! These cities will continue to suffer because their states are also suffering for the same reasons. This is not new as the same thing happened during the Great Depression. Cities bought time by doing accounting tricks just like Washington is doing today with the budget and our national deficit. The only difference is local governments must balance their budget by law whereas the federal government gets a bye. During the depression the disease of financial engineering did not surface until 1934 or 1935. Whitney was right! Michigan has four cities under state management. Read financial tricks! The list of who is next has all our names on it. Chicago suffers because of the cost of its school system. Detroit because of autos. Warren, Wi. is using a state loan to hide the truth, but this has only increased the debt of the city, just like the Federal Reserve increases our debt on a daily basis making the D-Day only that much more severe. Miami just built a new ballpark, but still suffers declining revenues on real estate. The same thing in Providence,R.I. The same thing in Menasha, Wi. The same thing at different levels in every location within our nation even rich areas like Suffolk County, Long Island, where everyone pays at least $10,000 in real estate taxes and still there is budget shortfalls. Don't expect the two candidates to address this problem because then, they would have to reveal the truth which is to put America first.
LIARS and CROOKS: Wall Street and our media which puts a positive spin on the real status of our economy and the health of our corporations. Alcoa was the first to report. They lost money, but they made more than the estimates. Media praises company. Jamie Dimon of JPMorgan Chase gave a new estimate for the financial loss due to trading in the last quarter. First, he said $2 billion. Now, he says it is closer to $5 billion. Like I said when it was first reported that it will have to be more because it is an insurance derivative and these things don't end in a day or week. Many companies prereported lower incomes and when they meet these lower figures, Wall Street and the media gushes for joy. Where is the voice of truth? If they won't allow an opposing view, how will they achieve a creative response when the sad day arrives? Peace!
Three Cities in Two Weeks
have defaulted in California, our leading industrial state. If the best can't make it, who can? Folks, it is not just California, it is happening and has been happening throughout the nation. If I were running for the highest office in the land, I'd have a plan to help and secure our future. What do we get? He said this on such-a-such date. Neither candidate understands the dangers of our economic situation that is becoming an epidemic with no answers to address the red flags of a serious virus that is spreading within our states.
Orange County
back in 1994 set off the early warning with its bankruptcy, but anyone suggesting future problems was drown out in criticism. When Jefferson County first flirted with bankruptcy and eventually fell into default, Meredith Whitney in 2010 was abused by the media for saying that she saw many more municipalities going bust in the near-term. Just last week, ex-New York State Assemblyman, Brodsky said these defaults are just a tip-of-the-iceberg. Know what? They are both right!
Wisconsin Recall
ended up being a plus for Governor Walker and a big negative for union labor. I agree that government workers do receive an excessive pay package when you add up all the benefits with pension on top of the list. However, this is not the cause for the financial problems that exist today. When you look under the hood, it is either a serious job loss or the housing bubble that has caused revenues to decline to a negative cash flow and either Wall Street or Washington or both is the root cause for these problems. Look at Central Falls, Rhode Island! They lost their textile plant. Now, they are losing their standard of living. Washington did not protect American workers! They do in every globalized nation except here. Scranton, Pa is in the cross hairs for the same reason. Guess what they are doing?
Taxes Up 80%
and all city workers receive minimum wage. Can't afford that. Can you? Did Obama or Romney address this situation? How about Harrisburg, Pa.? They were rejected in bankruptcy court because the city was too small, but the state put them under a receiver. Personally, I'd take Welker of the Pats. He has great hands.
Mammoth Lakes, Vallejo, Stockton, California are all screaming the same tune. We cannot afford to live! These cities will continue to suffer because their states are also suffering for the same reasons. This is not new as the same thing happened during the Great Depression. Cities bought time by doing accounting tricks just like Washington is doing today with the budget and our national deficit. The only difference is local governments must balance their budget by law whereas the federal government gets a bye. During the depression the disease of financial engineering did not surface until 1934 or 1935. Whitney was right! Michigan has four cities under state management. Read financial tricks! The list of who is next has all our names on it. Chicago suffers because of the cost of its school system. Detroit because of autos. Warren, Wi. is using a state loan to hide the truth, but this has only increased the debt of the city, just like the Federal Reserve increases our debt on a daily basis making the D-Day only that much more severe. Miami just built a new ballpark, but still suffers declining revenues on real estate. The same thing in Providence,R.I. The same thing in Menasha, Wi. The same thing at different levels in every location within our nation even rich areas like Suffolk County, Long Island, where everyone pays at least $10,000 in real estate taxes and still there is budget shortfalls. Don't expect the two candidates to address this problem because then, they would have to reveal the truth which is to put America first.
LIARS and CROOKS: Wall Street and our media which puts a positive spin on the real status of our economy and the health of our corporations. Alcoa was the first to report. They lost money, but they made more than the estimates. Media praises company. Jamie Dimon of JPMorgan Chase gave a new estimate for the financial loss due to trading in the last quarter. First, he said $2 billion. Now, he says it is closer to $5 billion. Like I said when it was first reported that it will have to be more because it is an insurance derivative and these things don't end in a day or week. Many companies prereported lower incomes and when they meet these lower figures, Wall Street and the media gushes for joy. Where is the voice of truth? If they won't allow an opposing view, how will they achieve a creative response when the sad day arrives? Peace!
Sunday, July 8, 2012
POISON PILLS...L&C
Has it been that long since I wrote in this blog that if the Supreme Court says that corporations have the same rights to express themselves as individuals, well then, I say that they should also suffer the three strike felony clause to put habitual felons behind bars for life or for corporations, eliminate their license from doing business, permanently!
Open the Envelope!
We have a winner. GlaxoSmithKline, step up to the podium! The British drug maker pleaded guilty to health fraud and they paid $3billion in penalties. When you look at this case, you end up asking yourself, what is the difference between a snake oil salesman of the past and a GSK of today?
Only the Label.
Two of the three pills cited were PAXIL and WELLBUTRIN. GSK had their people use every technique in the book, including bribery. Your patient has bipolar disorder? Take one of the two antidepressants from above. If you ask me, they're both totally depressing! Your patient suffers from obesity? Use our pill. Your patient has sexual dysfunction? It covers that too! How about attention deficit disorder? It's a miracle! It can help with that too! And then, there is the third pill, AVANDIA.
We Forgot
to mention that you could suffer a heart attack and die! Small, little detail that got lost in the paperwork. This crime is a slap in the face to America as this is a foreign company and these international companies, as well as our domestic companies will continue to do anything for a buck as in this case where the total bucks for the three pills was over $26billion. Now, how do you feel about that new pill you are about to take? Are you going to wait for the Supreme Court to help? Won't happen in this life span unless my book gets published with a cure for the Supreme Court.
LIARS and CROOKS: Gotta give it up to old "Helicopter" Ben and his back up group, the Federal Reserve. Not only is the real reason for low interest rates is to help the banks stabilize and for our federal government with its ever increasing financing of the debt by making it cheaper and allowing them to kick-the-can-down-the-road, but this new aspect that shows how diabolical the Federal Reserve really is. Did you realize that Social Security buys long-term bonds to help payout their claims? The social security agency counts on receiving so much interest to balance their trust fund which dates to a 1960 law which says, "if the social security trust fund gets depleted, then a 25% pay cut will automatically go into effect." Ben is killing social security with his low rates and he is exchanging normal long-term rates that range between 5 to 6% with new ones that are 1.25 to 1.75%. At this rate the fund will die by 2023 and everyone will suffer a 25% less payout at that time. We already know that the present payouts are not enough to live on, what if you got 25% less? END the FED!
Open the Envelope!
We have a winner. GlaxoSmithKline, step up to the podium! The British drug maker pleaded guilty to health fraud and they paid $3billion in penalties. When you look at this case, you end up asking yourself, what is the difference between a snake oil salesman of the past and a GSK of today?
Only the Label.
Two of the three pills cited were PAXIL and WELLBUTRIN. GSK had their people use every technique in the book, including bribery. Your patient has bipolar disorder? Take one of the two antidepressants from above. If you ask me, they're both totally depressing! Your patient suffers from obesity? Use our pill. Your patient has sexual dysfunction? It covers that too! How about attention deficit disorder? It's a miracle! It can help with that too! And then, there is the third pill, AVANDIA.
We Forgot
to mention that you could suffer a heart attack and die! Small, little detail that got lost in the paperwork. This crime is a slap in the face to America as this is a foreign company and these international companies, as well as our domestic companies will continue to do anything for a buck as in this case where the total bucks for the three pills was over $26billion. Now, how do you feel about that new pill you are about to take? Are you going to wait for the Supreme Court to help? Won't happen in this life span unless my book gets published with a cure for the Supreme Court.
LIARS and CROOKS: Gotta give it up to old "Helicopter" Ben and his back up group, the Federal Reserve. Not only is the real reason for low interest rates is to help the banks stabilize and for our federal government with its ever increasing financing of the debt by making it cheaper and allowing them to kick-the-can-down-the-road, but this new aspect that shows how diabolical the Federal Reserve really is. Did you realize that Social Security buys long-term bonds to help payout their claims? The social security agency counts on receiving so much interest to balance their trust fund which dates to a 1960 law which says, "if the social security trust fund gets depleted, then a 25% pay cut will automatically go into effect." Ben is killing social security with his low rates and he is exchanging normal long-term rates that range between 5 to 6% with new ones that are 1.25 to 1.75%. At this rate the fund will die by 2023 and everyone will suffer a 25% less payout at that time. We already know that the present payouts are not enough to live on, what if you got 25% less? END the FED!
Sunday, July 1, 2012
PREDICTION: Future Financial Meltdown...L&C
There was a little sipet in the news this past week and even those who are aware of it were distracted by the bigger media event, the Supreme Court ruling on the Affordable Health Care Act. In both cases we all lose. I will not add my two cents into the ObamaCare debate, however I see a financial catastrophe in the Barclays conviction and what it implies and what is not stated.
Manipulation
by Barclays Bank to "fix" the Libor Rate which is the standard used internationally by businesses and consumers. It is a $360 trillion market. Barclays did it to increase profits and to hide their internal bank health. They were fined by agencies in the U.S. and Great Britain. Guilty of falsifying records, Barclays was fined a total of $451.4 million. One U.S. agency received $200 million and one British authority received $92.8 million and the U.S. Justice Department pulled in another $160 million for its criminal division, but of course, no criminal charges will be filed. How many years do you think you or I would have received for the same crime?
Hypocrisy!
Do you want to know where it began? Derivative traders requested the scheme to the Barclay people and came up with the idea to set the loan rate which in turn affected derivative trading. Will those fines ever make their way into the pockets of the traders who were correct in their estimation of the market rate, but they were cheated by the behind-the-scenes affairs of these criminals who should be behind bars and banned from trading? No! And yeah, I know that you and me are not in this type of market, but it reflects on all the behind-the-scene actions that are rigging our markets today and killing free enterprise.
Enron
wrote the book and it is becoming gospel for greedy devils like the following Ding-Dong.
One Trader
stated in a email that he would use the firepower of his treasury to control...which translates to me as this: there are loose cannons out there with big egos who have no idea of the catastrophe that they could set in motion. I have stated to you on many occasion, the total value of all the worlds economies is around $65 trillion and these derivative traders are doing transactions over $500 trillion. No one can save us from one mistake and if their is one mistake, it could set a domino chain reaction equivalent to weapons of mass destruction. Thank you, Warren Buffett. By the way the investigation into Barclays Bank was for the period from 2007 until May 2009. Ha! Another sad joke. There are other institutions on the investigative list: Citigroup, Royal Bank of Scotland, Group Plc, UBSAG, Lloyds and Deutsche BankAG. At this pace the above group will pay their fines around 2016. Yea! All this leads to another banking problem, see L&C below.
LIARS and CROOKS: News surfaced that JPMorgan's derivative loss could be in excess of the $2 billion stated by its CEO, Jamie Dimon(I called that one at that time). However, did you know this? Jamie Dimon is the headman at the New York Fed which is one of the 12 districts that makeup the Federal Reserve? It is charged with the health and actions of the regions banks which includes JPMorga. Question: is their conflict of interest for Jamie Dimon? You betcha! You know I'm for ending the Fed, however that meme is slow to take, but in the meantime, the regulations of the Fed should be changed from a banker watching his fellow bankers into a small businessman watching the bankers. End the Fed!
Manipulation
by Barclays Bank to "fix" the Libor Rate which is the standard used internationally by businesses and consumers. It is a $360 trillion market. Barclays did it to increase profits and to hide their internal bank health. They were fined by agencies in the U.S. and Great Britain. Guilty of falsifying records, Barclays was fined a total of $451.4 million. One U.S. agency received $200 million and one British authority received $92.8 million and the U.S. Justice Department pulled in another $160 million for its criminal division, but of course, no criminal charges will be filed. How many years do you think you or I would have received for the same crime?
Hypocrisy!
Do you want to know where it began? Derivative traders requested the scheme to the Barclay people and came up with the idea to set the loan rate which in turn affected derivative trading. Will those fines ever make their way into the pockets of the traders who were correct in their estimation of the market rate, but they were cheated by the behind-the-scenes affairs of these criminals who should be behind bars and banned from trading? No! And yeah, I know that you and me are not in this type of market, but it reflects on all the behind-the-scene actions that are rigging our markets today and killing free enterprise.
Enron
wrote the book and it is becoming gospel for greedy devils like the following Ding-Dong.
One Trader
stated in a email that he would use the firepower of his treasury to control...which translates to me as this: there are loose cannons out there with big egos who have no idea of the catastrophe that they could set in motion. I have stated to you on many occasion, the total value of all the worlds economies is around $65 trillion and these derivative traders are doing transactions over $500 trillion. No one can save us from one mistake and if their is one mistake, it could set a domino chain reaction equivalent to weapons of mass destruction. Thank you, Warren Buffett. By the way the investigation into Barclays Bank was for the period from 2007 until May 2009. Ha! Another sad joke. There are other institutions on the investigative list: Citigroup, Royal Bank of Scotland, Group Plc, UBSAG, Lloyds and Deutsche BankAG. At this pace the above group will pay their fines around 2016. Yea! All this leads to another banking problem, see L&C below.
LIARS and CROOKS: News surfaced that JPMorgan's derivative loss could be in excess of the $2 billion stated by its CEO, Jamie Dimon(I called that one at that time). However, did you know this? Jamie Dimon is the headman at the New York Fed which is one of the 12 districts that makeup the Federal Reserve? It is charged with the health and actions of the regions banks which includes JPMorga. Question: is their conflict of interest for Jamie Dimon? You betcha! You know I'm for ending the Fed, however that meme is slow to take, but in the meantime, the regulations of the Fed should be changed from a banker watching his fellow bankers into a small businessman watching the bankers. End the Fed!
Sunday, June 24, 2012
A Floating Death Tomb for 5,000...L&C
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!"
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!"
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