Change: An Old Frontier Becomes New
“Change does not necessarily assure progress, but progress implacably requires change. Education is essential to change, for education creates both new wants and the ability to satisfy them.” (Henry Steele Commager)
It would be so easy to repeat so many quotes and proverbs as they could fill many books, so I will try not to use or make too many (as I so love to do). I believe the urgency of our current economy and the flux of this election, we can no longer wait to make the changes necessary to evolve the growth of this country. It will require our collective efforts to evolve for the better and not the worse, regardless; change is inevitable. I know somebody essentially has said this before; the idea is by no means new.
So many times this country has been on the right path, but going the right way. Currently I do not believe we (as a nation) are doing neither; therefore we are not progressing. We are not evolving. Unlike a Phoenix, we are not rising from the ashes to establishing the ongoing birth of a truly great nation. Instead we do continue to sink in despair, growing poverty, failing industries, business, financial institutions, and yes even greater discord within our families than ever before. You know: only male female relationships with 1.3 children – 50% ending in divorce and growing, others who don’t fit this equation aren’t worth considering by many in our country. Our governing bodies have started functioning like the Tower of Babel (Wikipedia). I am not a right wing conservative, but God please don’t cast the difference of foreign language on Capitol Hill. The failure of communication is already bad enough.
It appears that our republican presidential candidate would rather return to Washington and lead the President and Congress to a grand solution to our economic woes (for which he really doesn’t have a solution nor do I – but it certainly cannot be solved by handing out blank checks – with no conditions or oversight). Grandstanding as McCain has appeared to do does not appear to be very bipartisan, but instead very partisan.
Instead of responding to Obama’s call and agreeing to a public agreement between the two candidates regarding requirements of this “Rescue” and possible slow down campaign efforts so they could share support with the folks on the hill as well as acting like a spoiled brat about doing the debate; I don’t know it just did not come off as really being a team player, bipartisan, or very leader like. He barely even participated in the discussion intended to be a truly bipartisan effort to come to an agreement on some level as what steps needed to be taken; instead they left starting back at square one.
He chastised Obama for not shutting down his campaign so he could focus efforts on the bailout. Obama stated he could multitask and maintain support and communications by phone. McCain responded by reneging on certain commitments by lying about his immediate departure to D.C. when he didn’t even leave until Thursday morning. If had just been UPFRONT and HONEST that he felt it inappropriate at this time or his schedule had changed; I am sure Letterman would have been much more understanding; and it would have been received as much more genuine and sincere by the American audiences and citizens (including myself). Instead it came off as insincere, dishonest, shallow, impulsive, and dim-witted.
Then without any significant appearance of real involvement, he decided at the last minute to participate in the debate as he felt sufficient progress was being made on the “rescue” solution. Interesting that he thought the stalled communications was progress. There was no progress during the entire time he was there, and it would seem he left because he was shut out of the process (and by his own party)! Once he left, that night negotiations resumed between the parties on what to do.
Then he returns to DC, again to be involved and support the “rescue” negotiations, but he never returned to capital as he stated he would. Instead there was a press release that he would go to the ‘Hill” later in the day using the reason that he was staying in touch by telephone. Gee, didn’t he just discount Obama’s effort of communicating by telephone on our current crisis as un-leader like and self serving?
Later in the day, he did not return to the “Hill” and listed a whole cadre of people he presumably called. Note: the press release said he called, it did not say he spoke to them. They probably did not want him there, besides it is one of the greatest and oldest cover-ups in the book to say “well I called…”. 17 people he called, he did not say he spoke with or received messages, or had any direct input or involvement. He now by his own actions now approves telephone “communications” as sufficient involvement for himself when yet just a few short days ago he condemned it as totally unbecoming of a man who puts country before himself. p.s. – anyone who thinks his campaign has shut down during this crisis. I have some prime swampland in ARIZONA to sell you!
McCain did indicate this morning in his interview on “This Week” this morning that was not that directly involved, but that credit is really due the leaders who crafted the latest documented proposal. I believe Legislators and other Senators would have preferred he kept his political attempts for involvement on the political trail and NOT capital hill.
Fortunately as I come to a close on my comments today, there was a news release that indeed a “final” draft has been written and will be presented to the house for approval tomorrow and then on to the senate. There is a draft available online at: http://financialservices.house.gov/. I cannot access it presently, but am sure it is getting more hits than it can handle. Just keep trying as it will eventually open up.
Don’t hesitate to let your legislators know if you approve or not, if so why. It is the one thing we as individual citizens can do and they are obligated to listen. Do it as soon as you can. Go here to find out who are your congressmen or women thru one of the following sites:
http://www.visi.com/juan/congress/
http://www.congress.org/congressorg/home/
Don’t deny yourself the 1 fundamental right and privelage to stand and be counted:
1. If you are not registered to vote or have moved: register or update your registration (make sure your driver’s license or ID is current also)
2. Be as informed as possible about what our legislature is doing and voting for/on.
3. Write your congressperson (email is the quickest by all means), give him your opinion on specific legislative activities (or point out what is not being addressed)
4. Get out and VOTE, or plan ahead and absentee vote
IT IS THE ONLY WAY OUR DEMOCRACY CAN AND SHOULD WORK!
As a citizen, do your homework.
jb
Monday, September 29, 2008
Friday, September 26, 2008
Are we Democratic or have we become LOGOCRATIC?
Are we Democratic or have we become LOGOCRATIC?
Logocracy is the rule of, or government by, WORDS. It is derived from the Greek λόγος (logos) - "word" and from κράτος (kratos) - to "govern". The term can be used either positively, ironically or negatively (see examples below). ( wikipedia )
Listening to the news reels, windbags, interview, a new buzz word all of the sudden has appeared: “trunch” with reference to the lack of detail in the bailout proposal that what was not broken out into “trunches”. I would take from context that it would refer to some sort of breakout or categorization of like components and/or details in the bailout proposal.
Ah but as my subconscious mind keeps running in the background saying I must have assumed the incorrect spelling, through repeated Googling & Wikipedia, I realize they are saying “tranche”. I knew there had to be some explanation for this term to be injected into the description of what’s missing in the “bailout/rescue package” that would make sense. Tranche is French for “slice” and is used in financial circles to refer to various types or classes of securitized debt. And to further escape the average citizen’s comprehension is the fact that these tranche’s are turned into derivatives and derivatives of derivatives. It is sort of like trying to slice the same apple sliced vertically, horizontally, and then chopped beyond any recognition of being an apple. As a result, there is no resemblance to the original apples we started.
To take this metaphor a step further, take into account there are seeds, stems, skin, bruises and/or bad spots, and etc.; things that would be considered bad elements thrown in. You mix it all up and not necessarily as homogenous, you end up with some pretty ruddy applesauce.
In my opinion this is what is happening in this economic crisis today. Still confused? Well you are not alone. Our economic crisis is a BIG SUBJECT to get one’s mind and thoughts around, even for the experts (and I am not one!) I think I understand it in very general terms – our financial system has become SNAFU’ed. (Situation Normal All Fucked Up). “Financial institutions” made loans they couldn’t afford to homebuyers who couldn’t afford their houses. Then these loans were sold at inflated prices that no longer represented the underlying value of the loans. Then they sliced and diced these loans to sell mortgage based securities for: again more than the value of the underlying assets (derivatives). As a result, nobody has any money to lend; nobody has any money to spend.
I get the feeling you might still be confused. You could picture an artist painter with his/her palette of many colors. They often times will use only primary colors and mix or blend to achieve their desired result. For example one might mix red and yellow to make orange, yellow and blue to make green, but if you mix it all together, you get a non-descript muddy gray which by itself is of little value by itself (as a rule). You can’t tell where the red is, or the yellow, or the blue. The color components have become indistinguishable. And, that is what has happened to many of the financial components or instruments today. The market value has now become compromised and unsound; in some cases worthless.
So I am drawn to conclude that when discussing the “tranches” on this bailout; that they are asking (and I know I certainly want to learn the details) exactly who is this money going to and what is it going to be used for. Will it be large banks, small banks, and other lending institutions? Are there any other kinds of companies that may be included like insurance companies (AIG) or other holding companies? Other than to encourage the trickledown theory, the end being that this money will benefit all citizens; many of us will be left out more or less. They say it will restore the money/credit pool (money) which is meant to start the flow cash again for future loans, mortgages, operational business credit lines. What help, assistance or benefit is there for the rest of us who are managing to make our mortgage payment? Or who have managed their businesses effectively to where they actually operate off of their cash in the bank rather than credit.
Just as many people bet on the increasing value of their homes and as a result paid no money down, or perhaps even received 100% or 120% home value in a loan. As a friend put it, “it is like cashing in on a future opportunity today”. The only problem is one never knows when the next opportunity will come as we don’t own the time line or how many more there will be. Therefore is a 50/50 chance at best of a positive outcome.
So is this bailout really going to solve the problem or is it again only putting off the inevitable by putting us even further upside down with this countries “value” verses our debt, you know; just roll it over into a new loan. The problem is it eventual catches up with you.
With the antics of the last few days by the white house; congress, and our presidential candidates (in particular the upstaging that the McCain camp has tried to create); we indeed are in a world of hurt. McCain is going to succeed at being the prince riding in on a white stallion to the rescue of the damsel (us) in financial distress.
As McCain has indicated so many times of Obama’s ability to speak in words so fluidly and eloquent; with words come power when used and directed to the right people and from the heart; Something I have never felt from McCain. So yes we are a Democracy as people are indeed the components that make up its judiciary, legislative, and executive operation; but it is our logocratic nature to use the power of words to define who we are, where we are going, and how we are going to get there.
May God stop the abusive use of words for self promotion, selfish greed, and misdirection of public interest, understanding, and opinion? The injection of terms not commonly understand by the general public only serves to further confuse and keep our citizens from any opportunity of understanding how big a crisis this country is really in.
God Bless America
Historical examples ( wikipedia )
America is described as a logocracy in Washington Irving's 1807 work, Salmagundi. A visiting foreigner, "Mustapha Rub-a-dub Keli Khan", ironically describes it as such, by which he means that via the tricky use of words, one can have power over others. Those most adept at this are termed "slang-whangers", while Congress is a "blustering, windy assembly".[1] Mustapha describes how:
"unknown to these people themselves, their government is a pure unadulterated LOGOCRACY or government of words. The whole nation does every thing viva voce, or, by word of mouth, and in this manner is one of the most military nations in existence [...] In a logocracy thou well knowest there is little or no occasion for fire arms, or any such destructive weapons. Every offensive or defensive measure is enforced by wordy battle, and paper war; he who has the longest tongue or readiest quill, is sure to gain the victory - will carry horrour [sic], abuse, and ink shed into the very trenches of the enemy, and without mercy or remorse, put men, women, and children to the point of the - pen!"[2]
The Soviet Union has been seen by some, such as Nobel Prize winner Czesław Miłosz,[3] as a logocracy.[4] It was for example, according to Christine D. Tomei, a "pseudo-reality created by mere words".[5] Moreover, after the revolution Luciano Pellicani describes how a "language reform plan" was introduced by Kisselev. In it he "stressed that the old mentality would never be overthrown, if the structure of the Russian language was not also transformed and purged." This process led to a Soviet language that George Orwell would later dub "neo-language" a precursor to his novel 1984's newspeak.[6] This in turn created an 'orthogloxy', a "stereotyped jargon consisting of formulas and empty slogans, whose purpose was to prevent people from thinking outside the boundaries of collective thought" - i.e. from being an individual.[6] Janina Frentzel-Zagórska, however, queries the importance of language in the USSR, saying that "the old ideological "newspeak" had completely disappeared in the Soviet Union long before" the fall of Communism, therefore making the logocracy theory "inadequate".[7]
Totalitarianism, according to political theorist Hannah Arendt, can be considered a logocracy, since in it ideas are no longer important, just how they are expressed.[8]
Academic Yahya Michot has referred to (Sunni) Islam as a "popular" or "laic logocracy", in that it is government by the word (i.e. the Koran) for the people.[9]
Logocracy is the rule of, or government by, WORDS. It is derived from the Greek λόγος (logos) - "word" and from κράτος (kratos) - to "govern". The term can be used either positively, ironically or negatively (see examples below). ( wikipedia )
Listening to the news reels, windbags, interview, a new buzz word all of the sudden has appeared: “trunch” with reference to the lack of detail in the bailout proposal that what was not broken out into “trunches”. I would take from context that it would refer to some sort of breakout or categorization of like components and/or details in the bailout proposal.
Ah but as my subconscious mind keeps running in the background saying I must have assumed the incorrect spelling, through repeated Googling & Wikipedia, I realize they are saying “tranche”. I knew there had to be some explanation for this term to be injected into the description of what’s missing in the “bailout/rescue package” that would make sense. Tranche is French for “slice” and is used in financial circles to refer to various types or classes of securitized debt. And to further escape the average citizen’s comprehension is the fact that these tranche’s are turned into derivatives and derivatives of derivatives. It is sort of like trying to slice the same apple sliced vertically, horizontally, and then chopped beyond any recognition of being an apple. As a result, there is no resemblance to the original apples we started.
To take this metaphor a step further, take into account there are seeds, stems, skin, bruises and/or bad spots, and etc.; things that would be considered bad elements thrown in. You mix it all up and not necessarily as homogenous, you end up with some pretty ruddy applesauce.
In my opinion this is what is happening in this economic crisis today. Still confused? Well you are not alone. Our economic crisis is a BIG SUBJECT to get one’s mind and thoughts around, even for the experts (and I am not one!) I think I understand it in very general terms – our financial system has become SNAFU’ed. (Situation Normal All Fucked Up). “Financial institutions” made loans they couldn’t afford to homebuyers who couldn’t afford their houses. Then these loans were sold at inflated prices that no longer represented the underlying value of the loans. Then they sliced and diced these loans to sell mortgage based securities for: again more than the value of the underlying assets (derivatives). As a result, nobody has any money to lend; nobody has any money to spend.
I get the feeling you might still be confused. You could picture an artist painter with his/her palette of many colors. They often times will use only primary colors and mix or blend to achieve their desired result. For example one might mix red and yellow to make orange, yellow and blue to make green, but if you mix it all together, you get a non-descript muddy gray which by itself is of little value by itself (as a rule). You can’t tell where the red is, or the yellow, or the blue. The color components have become indistinguishable. And, that is what has happened to many of the financial components or instruments today. The market value has now become compromised and unsound; in some cases worthless.
So I am drawn to conclude that when discussing the “tranches” on this bailout; that they are asking (and I know I certainly want to learn the details) exactly who is this money going to and what is it going to be used for. Will it be large banks, small banks, and other lending institutions? Are there any other kinds of companies that may be included like insurance companies (AIG) or other holding companies? Other than to encourage the trickledown theory, the end being that this money will benefit all citizens; many of us will be left out more or less. They say it will restore the money/credit pool (money) which is meant to start the flow cash again for future loans, mortgages, operational business credit lines. What help, assistance or benefit is there for the rest of us who are managing to make our mortgage payment? Or who have managed their businesses effectively to where they actually operate off of their cash in the bank rather than credit.
Just as many people bet on the increasing value of their homes and as a result paid no money down, or perhaps even received 100% or 120% home value in a loan. As a friend put it, “it is like cashing in on a future opportunity today”. The only problem is one never knows when the next opportunity will come as we don’t own the time line or how many more there will be. Therefore is a 50/50 chance at best of a positive outcome.
So is this bailout really going to solve the problem or is it again only putting off the inevitable by putting us even further upside down with this countries “value” verses our debt, you know; just roll it over into a new loan. The problem is it eventual catches up with you.
With the antics of the last few days by the white house; congress, and our presidential candidates (in particular the upstaging that the McCain camp has tried to create); we indeed are in a world of hurt. McCain is going to succeed at being the prince riding in on a white stallion to the rescue of the damsel (us) in financial distress.
As McCain has indicated so many times of Obama’s ability to speak in words so fluidly and eloquent; with words come power when used and directed to the right people and from the heart; Something I have never felt from McCain. So yes we are a Democracy as people are indeed the components that make up its judiciary, legislative, and executive operation; but it is our logocratic nature to use the power of words to define who we are, where we are going, and how we are going to get there.
May God stop the abusive use of words for self promotion, selfish greed, and misdirection of public interest, understanding, and opinion? The injection of terms not commonly understand by the general public only serves to further confuse and keep our citizens from any opportunity of understanding how big a crisis this country is really in.
God Bless America
Historical examples ( wikipedia )
America is described as a logocracy in Washington Irving's 1807 work, Salmagundi. A visiting foreigner, "Mustapha Rub-a-dub Keli Khan", ironically describes it as such, by which he means that via the tricky use of words, one can have power over others. Those most adept at this are termed "slang-whangers", while Congress is a "blustering, windy assembly".[1] Mustapha describes how:
"unknown to these people themselves, their government is a pure unadulterated LOGOCRACY or government of words. The whole nation does every thing viva voce, or, by word of mouth, and in this manner is one of the most military nations in existence [...] In a logocracy thou well knowest there is little or no occasion for fire arms, or any such destructive weapons. Every offensive or defensive measure is enforced by wordy battle, and paper war; he who has the longest tongue or readiest quill, is sure to gain the victory - will carry horrour [sic], abuse, and ink shed into the very trenches of the enemy, and without mercy or remorse, put men, women, and children to the point of the - pen!"[2]
The Soviet Union has been seen by some, such as Nobel Prize winner Czesław Miłosz,[3] as a logocracy.[4] It was for example, according to Christine D. Tomei, a "pseudo-reality created by mere words".[5] Moreover, after the revolution Luciano Pellicani describes how a "language reform plan" was introduced by Kisselev. In it he "stressed that the old mentality would never be overthrown, if the structure of the Russian language was not also transformed and purged." This process led to a Soviet language that George Orwell would later dub "neo-language" a precursor to his novel 1984's newspeak.[6] This in turn created an 'orthogloxy', a "stereotyped jargon consisting of formulas and empty slogans, whose purpose was to prevent people from thinking outside the boundaries of collective thought" - i.e. from being an individual.[6] Janina Frentzel-Zagórska, however, queries the importance of language in the USSR, saying that "the old ideological "newspeak" had completely disappeared in the Soviet Union long before" the fall of Communism, therefore making the logocracy theory "inadequate".[7]
Totalitarianism, according to political theorist Hannah Arendt, can be considered a logocracy, since in it ideas are no longer important, just how they are expressed.[8]
Academic Yahya Michot has referred to (Sunni) Islam as a "popular" or "laic logocracy", in that it is government by the word (i.e. the Koran) for the people.[9]
Thursday, September 18, 2008
DO POLITICS DRIVE THE ECONOMY OR DOES THE ECONOMY DRIVE POLITICS
I guess they are pretty inseparable when discussing governmental politics verses social politics other than manipulation is fundamental to both. In Political Economics it is all about the fine art of manipulation – ultimately of people. Socially, the most common manipulation is getting someone to do something they really don’t want to do or to do something that is of benefit to someone else (like a club charity or fund raiser or benefit the manipulator-direct or indirectly). It is sometimes viewed as noble as in manipulating to warring factions to cease fire/peace agreement (or better yet – the fine art of manipulation executed to achieve ratification of our own U.S. Constitution. Skilful manipulation for the benefit of all involved is viewed as a gift and is seen as quite ethical. Skillful manipulation to the detriment of some or all parties involved or where the manipulator is the primary or only benefactor is viewed as unethical (at least that is how I was raised).
Although I would like to beat the drum on the ethics of manipulation for personal gain (or better put-the lack thereof); that is not my intent with this entry. I want to talk about the political concerns and issues of our economy and the manipulation that is being used. I cannot say that either the Democratic or Republic Parties have run all above board on this, the Democrats do seem to be keeping it a little cleaner than the Republicans.
So enough of that sidebar about manipulation, I need to get back to economics and our economy (and politics). Webster’s defines ECONOMICS as: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. The same Webster’s defines ECONOMY as: 1archaic : the management of household or private affairs and especially expenses 2 a: thrifty and efficient use of material resources : frugality in expenditures ; also : an instance or a means of economizing : saving b: efficient and concise use of nonmaterial resources (as effort, language, or motion)3 a: the arrangement or mode of operation of something : organization b: a system especially of interaction and exchange4: the structure or conditions of economic life in a country, area, or period ; also : an economic system.
First I will say I am not an economist nor do I know everything about our economy other than IT SUCKS BROWN EGGS right now, you know what I mean. Even purported expert economists cannot tell us what we are in for.
For us folks in the trenches, gas is back to $4 to$5 a gallon, my own electric bill was over $500 last month!(The highest ever!) Unemployment is up to 6.1%, the highest it has been in 5 years. Household income (which more often than not requires multiple sources (more than 1 job), has risen from approximately $8,400 to $21,000 in 2007 where as average single income households has remained flat during the same time at around $46,000 per year. Also interesting to note is that the ration of rich to poor has increased from 70/30 to 80/20 – the RICH are getting RICHER and the POOR are getting POORER, and guess what/ The “middle class/average Joe” is continuing to lose ground financially; average unsecured debt has risen from approximately $3,000 in 1990 to well over 10,000 today.
Monday, September 15th, has been referred to by many in the financial community as Black Monday. I don’t know about many of you, but I remember clearly my mother talking about the great depression and how if they didn’t live on a farm, there is no way they could have made it. They grew their own vegetables and fruit, livestock, milked cows, made their own butter. To my surprised they even used the ashes from their stove and fireplace to make lye soap (yes she had the burn scars on her legs where she had splashed it and burned the skin. If more of us had decent sized yards, we could do it again. But for the majority of households in the U.S., there are no yards, and if there were; how many would really have the time, know how, and time to tend such. Most households are 2 incomes or more with long hours and precious little time for the family now. Pretty scary considering what appears to be a bleak outlook for our country. What my mother’s family did for survival is not an option for most Americans.
Enough about the pains of the average family is already in today, look what is happening to our national economy which is heavily linked to the global economy. In the words of what were our Wall Street 5 financial Institutions:
*BEAR STEARNS – “Driving growth Through Technology, Learn from the Experts” – purchased by J P Morgan Chase in May 2008 for .33 on the dollar (depending on who you read). GEE – GREAT EXPERTS INDEED.
*LEHMAN BROTHERS – “Where Visions get Built” – I don’t know about you, but we are not in any vision I ever hoped for! – In chapter 11 bankruptcy.
*MERRILL LYNCH – “Bullish on America” I am bullish on America, but does that mean I am looking forward for America to be swallowed by another big fish? – bought out by Bank of American now making it the single largest retail banker, single largest retail brokerage firm, the single largest mortgage lender, and single largest issuer of credit card issuer – SCARY?
*NO LONGER EXIST AS WE KNEW THEM WHEN PART OF THE WALL STREET 5!!
MORGAN STANLEY – “We measure success 1 investor at a time!” – Has long tried to help Lehman Brothers at the FED’s encouragement, it may now well be on the auction block itself.
GOLDMAN SACHS – “Unexpected Thinking “, “Investment Management in Turbulent Times” - Isolationism/Protectionism in a time of global need definitely is unexpected, it would sort of be like “turning its back”?
Others running close behind: Bank of America, J.P. Morgan Chase, WAMU, Wachovia………..all face major challenges.
Let’s not forget about the current bailout in process for AIG. Who’s next? I believe I have already read that there is another 25 billion bailout proposed for the automotive manufacturing (they wanted 50 billion originally).
These bail outs and loan guarantees costing 100’s of billions of dollars being added and nearly doubling our projected deficit of 482 billion to nearly a trillion dollars. That will increase our national debt to nearly 10 TRILLION dollars! That’s $10,000,000,000,000.00. Go to the government website and check for yourself (there is plenty of other interesting information about government spending such as how very little is spent on education or that the real hole in the budget is not Social Security, but Medicare and Medicare – boy does healthcare really need to clean house!).
I will admit I am relatively new at taking our politics and economy so seriously, but it is serious business that I have ignored far too long. I hope others who haven’t viewed this as a serious business, will turn a leaf and dig in. It is serious business that cannot just be left to the assumption that everything will work out in its own time. THE TIME IS NOW FOR EVERY CITIZEN TO GET EDUCATED AND GET INVOLVED, DON’T WAIT UNTIL IT IS TOO LATE!
DEFINITELY MORE TO COME
Although I would like to beat the drum on the ethics of manipulation for personal gain (or better put-the lack thereof); that is not my intent with this entry. I want to talk about the political concerns and issues of our economy and the manipulation that is being used. I cannot say that either the Democratic or Republic Parties have run all above board on this, the Democrats do seem to be keeping it a little cleaner than the Republicans.
So enough of that sidebar about manipulation, I need to get back to economics and our economy (and politics). Webster’s defines ECONOMICS as: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. The same Webster’s defines ECONOMY as: 1archaic : the management of household or private affairs and especially expenses 2 a: thrifty and efficient use of material resources : frugality in expenditures ; also : an instance or a means of economizing : saving b: efficient and concise use of nonmaterial resources (as effort, language, or motion)3 a: the arrangement or mode of operation of something : organization b: a system especially of interaction and exchange
First I will say I am not an economist nor do I know everything about our economy other than IT SUCKS BROWN EGGS right now, you know what I mean. Even purported expert economists cannot tell us what we are in for.
For us folks in the trenches, gas is back to $4 to$5 a gallon, my own electric bill was over $500 last month!(The highest ever!) Unemployment is up to 6.1%, the highest it has been in 5 years. Household income (which more often than not requires multiple sources (more than 1 job), has risen from approximately $8,400 to $21,000 in 2007 where as average single income households has remained flat during the same time at around $46,000 per year. Also interesting to note is that the ration of rich to poor has increased from 70/30 to 80/20 – the RICH are getting RICHER and the POOR are getting POORER, and guess what/ The “middle class/average Joe” is continuing to lose ground financially; average unsecured debt has risen from approximately $3,000 in 1990 to well over 10,000 today.
Monday, September 15th, has been referred to by many in the financial community as Black Monday. I don’t know about many of you, but I remember clearly my mother talking about the great depression and how if they didn’t live on a farm, there is no way they could have made it. They grew their own vegetables and fruit, livestock, milked cows, made their own butter. To my surprised they even used the ashes from their stove and fireplace to make lye soap (yes she had the burn scars on her legs where she had splashed it and burned the skin. If more of us had decent sized yards, we could do it again. But for the majority of households in the U.S., there are no yards, and if there were; how many would really have the time, know how, and time to tend such. Most households are 2 incomes or more with long hours and precious little time for the family now. Pretty scary considering what appears to be a bleak outlook for our country. What my mother’s family did for survival is not an option for most Americans.
Enough about the pains of the average family is already in today, look what is happening to our national economy which is heavily linked to the global economy. In the words of what were our Wall Street 5 financial Institutions:
*BEAR STEARNS – “Driving growth Through Technology, Learn from the Experts” – purchased by J P Morgan Chase in May 2008 for .33 on the dollar (depending on who you read). GEE – GREAT EXPERTS INDEED.
*LEHMAN BROTHERS – “Where Visions get Built” – I don’t know about you, but we are not in any vision I ever hoped for! – In chapter 11 bankruptcy.
*MERRILL LYNCH – “Bullish on America” I am bullish on America, but does that mean I am looking forward for America to be swallowed by another big fish? – bought out by Bank of American now making it the single largest retail banker, single largest retail brokerage firm, the single largest mortgage lender, and single largest issuer of credit card issuer – SCARY?
*NO LONGER EXIST AS WE KNEW THEM WHEN PART OF THE WALL STREET 5!!
MORGAN STANLEY – “We measure success 1 investor at a time!” – Has long tried to help Lehman Brothers at the FED’s encouragement, it may now well be on the auction block itself.
GOLDMAN SACHS – “Unexpected Thinking “, “Investment Management in Turbulent Times” - Isolationism/Protectionism in a time of global need definitely is unexpected, it would sort of be like “turning its back”?
Others running close behind: Bank of America, J.P. Morgan Chase, WAMU, Wachovia………..all face major challenges.
Let’s not forget about the current bailout in process for AIG. Who’s next? I believe I have already read that there is another 25 billion bailout proposed for the automotive manufacturing (they wanted 50 billion originally).
These bail outs and loan guarantees costing 100’s of billions of dollars being added and nearly doubling our projected deficit of 482 billion to nearly a trillion dollars. That will increase our national debt to nearly 10 TRILLION dollars! That’s $10,000,000,000,000.00. Go to the government website and check for yourself (there is plenty of other interesting information about government spending such as how very little is spent on education or that the real hole in the budget is not Social Security, but Medicare and Medicare – boy does healthcare really need to clean house!).
I will admit I am relatively new at taking our politics and economy so seriously, but it is serious business that I have ignored far too long. I hope others who haven’t viewed this as a serious business, will turn a leaf and dig in. It is serious business that cannot just be left to the assumption that everything will work out in its own time. THE TIME IS NOW FOR EVERY CITIZEN TO GET EDUCATED AND GET INVOLVED, DON’T WAIT UNTIL IT IS TOO LATE!
DEFINITELY MORE TO COME
Sunday, September 14, 2008
My Political View -2008
My aplogies, here is an entry I failed to post (only got saved as a draft), so pardon time references and relavency.
September 14, 2008
My Political View -2008
This will be an extension of my other blog regarding my life with an LVAD implant, a biventricular Pacemaker implant, AIDS, and at times major depression. I started that Blog in order to chronicle my recovery – most specifically with an LVAD which is a Left Ventricular Assist Device…an electric heart of sorts. So please check out my other blog.
In this blog I intend to share links articles and or other blogs I have discovered that have been informative to me in evaluating our candidates for president/vice president as well action by our current administration.
Will try and update this blog as often as I can, I hope to 2 or 3 times a week at minimum. There certainly is no shortage of material to comment on.
You can view my first foray in to political commentary from my other blog here:
http://jb-lvad.blogspot.com/2008/09/survive-lvad-for-year-for-this.html
What I would like to comment on today is an announcement regarding the de-decoration and reclassification of a highly decorated career serviceman who died in the line of duty (in IRAQ). See the story here:
http://www.theonion.com/content/news_briefs/gay_war_hero_awarded
http://redandbluerays.blogspot.com/2008/09/gay-war-hero-awarded-posthumous.html
http://aziseeit.net/2008/09/14/az-i-see-it.aspx?ref=rss
http://planetfear.blogspot.com/2008/09/gay-war-hero-awarded-posthumous.html
I cannot understand the need in this action, just because it was discovered AFTER he died, and was buried as decorated war hero in Arlington National Cemetery. Oh what the heck, here is the whole story from the Onion:
In a solemn ceremony held in the White House Rose Garden Monday, recently outed Iraq War casualty Sgt. Maj. Michael Delacroix—a highly decorated career serviceman with an impeccable 22-year record—was posthumously stripped of his military honors and dishonorably discharged from the U.S. Army. "For giving his life in the line of duty and selflessly serving his nation while being gay, Mr. Delacroix will be exhumed from Arlington National Cemetery and relieved of his rank and all attendant benefits," U.S. Secretary of Defense Robert Gates said during the ceremony. "We also ask that his mother return the American flag that was given to her at his funeral." A Pentagon spokesman said that Delacroix's cause of death—sniper fire while attempting to save an injured Iraqi boy—will be changed to AIDS in the official record.
IF he was “outed” after his service for this country came to such an early death, how does this violate the ‘Don’t Ask Don’t TELL!” Is this a retroactive law that would strip any military serviceman who has been rewarded at the end of service, the is discovered to be gay? To go to the extent of not only stripping him of his honors, but exhuming him from Arlington National Cemetery, s trip him and all family of their right AND asked his mother to return the flag from the burial ceremony. (I hope she doesn’t return it- heck I would be honored to receive it for safe keeping.
I WONDER, WILL THEY CHARGE HER FOR THESE EXPENSES AS WELL AS THE 21 GUN SOLUTE THAT HE SO RIGHTLY DESERVED – GAY OR NOT! Is this the kind of governmental action that we should be proud of? AND, to hold a special ceremony to declassify his death as less than HONORABLE is unconscionable, for that matter unconstitutional. My heart goes out to his mother and family as this must be adding a tremendous amount of stress and grief.
He have to let out legislatures know our outrage over the heinous activities to discredit discolor this Man Service. It is almost reminds one of the early witch trials in Salem.
Are reading back to the cold war where everyone has a file, and they knew everything about you in that file Makes wonder when they will come knocking on your door and tell us how are to live out our lives to their specifications…. BIG BROTHER WILL BE WATCHING…..: J J J
I don’t want to believe this, but the technology to achieve this is far closer than we realize….
MY Gog, The high Self or Supreme Power have some means to make sense of all this and get us on the right track. I certainly know I can’t continue seeing life in the [present direction this country is taking long believe we can.
I am voting for chand…..and it will be through the OBABNA-BIDEN ticket. The Right Vision, The Right PLAN.
Josh Brostow
September 14, 2008
My Political View -2008
This will be an extension of my other blog regarding my life with an LVAD implant, a biventricular Pacemaker implant, AIDS, and at times major depression. I started that Blog in order to chronicle my recovery – most specifically with an LVAD which is a Left Ventricular Assist Device…an electric heart of sorts. So please check out my other blog.
In this blog I intend to share links articles and or other blogs I have discovered that have been informative to me in evaluating our candidates for president/vice president as well action by our current administration.
Will try and update this blog as often as I can, I hope to 2 or 3 times a week at minimum. There certainly is no shortage of material to comment on.
You can view my first foray in to political commentary from my other blog here:
http://jb-lvad.blogspot.com/2008/09/survive-lvad-for-year-for-this.html
What I would like to comment on today is an announcement regarding the de-decoration and reclassification of a highly decorated career serviceman who died in the line of duty (in IRAQ). See the story here:
http://www.theonion.com/content/news_briefs/gay_war_hero_awarded
http://redandbluerays.blogspot.com/2008/09/gay-war-hero-awarded-posthumous.html
http://aziseeit.net/2008/09/14/az-i-see-it.aspx?ref=rss
http://planetfear.blogspot.com/2008/09/gay-war-hero-awarded-posthumous.html
I cannot understand the need in this action, just because it was discovered AFTER he died, and was buried as decorated war hero in Arlington National Cemetery. Oh what the heck, here is the whole story from the Onion:
In a solemn ceremony held in the White House Rose Garden Monday, recently outed Iraq War casualty Sgt. Maj. Michael Delacroix—a highly decorated career serviceman with an impeccable 22-year record—was posthumously stripped of his military honors and dishonorably discharged from the U.S. Army. "For giving his life in the line of duty and selflessly serving his nation while being gay, Mr. Delacroix will be exhumed from Arlington National Cemetery and relieved of his rank and all attendant benefits," U.S. Secretary of Defense Robert Gates said during the ceremony. "We also ask that his mother return the American flag that was given to her at his funeral." A Pentagon spokesman said that Delacroix's cause of death—sniper fire while attempting to save an injured Iraqi boy—will be changed to AIDS in the official record.
IF he was “outed” after his service for this country came to such an early death, how does this violate the ‘Don’t Ask Don’t TELL!” Is this a retroactive law that would strip any military serviceman who has been rewarded at the end of service, the is discovered to be gay? To go to the extent of not only stripping him of his honors, but exhuming him from Arlington National Cemetery, s trip him and all family of their right AND asked his mother to return the flag from the burial ceremony. (I hope she doesn’t return it- heck I would be honored to receive it for safe keeping.
I WONDER, WILL THEY CHARGE HER FOR THESE EXPENSES AS WELL AS THE 21 GUN SOLUTE THAT HE SO RIGHTLY DESERVED – GAY OR NOT! Is this the kind of governmental action that we should be proud of? AND, to hold a special ceremony to declassify his death as less than HONORABLE is unconscionable, for that matter unconstitutional. My heart goes out to his mother and family as this must be adding a tremendous amount of stress and grief.
He have to let out legislatures know our outrage over the heinous activities to discredit discolor this Man Service. It is almost reminds one of the early witch trials in Salem.
Are reading back to the cold war where everyone has a file, and they knew everything about you in that file Makes wonder when they will come knocking on your door and tell us how are to live out our lives to their specifications…. BIG BROTHER WILL BE WATCHING…..: J J J
I don’t want to believe this, but the technology to achieve this is far closer than we realize….
MY Gog, The high Self or Supreme Power have some means to make sense of all this and get us on the right track. I certainly know I can’t continue seeing life in the [present direction this country is taking long believe we can.
I am voting for chand…..and it will be through the OBABNA-BIDEN ticket. The Right Vision, The Right PLAN.
Josh Brostow
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