The U.S. public has been shielded from real answers to the questions regarding the U.S. commitments to Iraq and Afghanistan. The U.S. Government and Media have shifted focus from real issues to those more acceptable to the U.S. public - military force and a WIN v. LOSE scenario. U.S. commitments to Iraq and Afghanistan will cost the U.S. taxpayer over $$$ TEN TRILLION U.S. Dollars by 2015. Ten Trillion borrowed funds, Ten Trillion that will not be spent on U.S. domestic infrastructure and social needs, Ten Trillion spent by a bankrupt nation that refuses to recognize reality and attend to it's domestic needs.
Afghanistan and Iraq are fictional creations of Western Europe and the U.S. government. Western governments, for their respective convenience, ignored indigenous populations, and arbitrarily drew lines on the geography, and assigned designations to areas within such lines as Countries: Afghanistan & Iraq. The indigenous people within these designations never had, and to this day have no NATIONAL IDENTITY. What the U.S. and Western European nations regard as Iraq, is in reality , three ( 3 ) separate populations each with their own religious identity. What the U.S. regards as Afghanistan, is in reality, twenty ( 20 ) separate populations with different tribal and religious loyalties.
Regardless of Washington rhetoric, the objective in Iraq was "regime" change, and securing continued access to approximately 15% of known oil reserves. The U.S. spent and will spend 4-5 Trillion ( 2001-2015 ) in order to provide the U.S. and Allies with oil. No cost accounting is being done on the cost in loss of life and disability of the 100's of thousands of U.S. military veterans adversely affected by their deployment to Iraq. One of the dark sides of "regime change"in Iraq, has been the establishment of an Islamic regime. Saddam Hessian tolerated and protected secular religious beliefs including "Christianity". The new , U.S. supported, Iraqi government has limited religious tolerance except for Islam, which is the de facto official religion of Iraq. Prior to the U.S. invasion of Iraq, there were upwards of 1,000,000 openly practicing "Christians"; today it is estimated that there are fewer then 5,000 "Christians" now in hiding. THE BENEFICIARIES of the U.S invasion of Iraq have been the Major Oil Companies and U.S. subcontractors the likes of Halliburton.
Afghanistan is another problem: with twenty ( 20 ) separate populations with different tribal loyalties; "Central Government", has never been nor will it be a sustainable reality. The Karzai government was and is totally financed, created and empowered by the U.S. supported by U.S and NATO troops . Once the U.S. stops financially supporting Karzai, the fictional entity , branded by the U.S. and allies as a "Central Government" will vanish. "Central Government" and National Identity, as far as Afghanistan is concerned, is a pipe dream of the U.S., costing U.S. taxpayers 4-5 Trillion 2001-2015. U.S. and NATO military involvement, regardless of the number of troops, supporting an Afghan "Central Government", will fail. WIN v LOSE has nothing to do with it; as long as the U.S. taxpayer continues to embrace the fiction of Afghan "Central Government", the U.S. taxpayer will pay and be in Afghanistan for the next 100 years. NO U.S. financial support, NO "Central Government" in Afghanistan.
Karzai "Central Government" means taxes, taxes on people who are among the poorest in the world. The way things are now working is the U.S. is "training", supplying and paying the salaries of a private Karzai army and police, who in-turn, go into tribal regions with the backing of the U.S. and NATO troops, and demand taxes from valley populations. It's improbable that demanding "taxes" from tribal and valley populations will win the "hearts and minds" of poverty populations. We Westerners' have the answer to everything, and as long as the U.S. is willing to pay, in dollars, and military lives, for the fiction of an Afghan "Central Government", the U.S. will remain mired in Afghanistan.
What is the "Taliban". In the West and U.S. , there are various "brands" of Christianity and Judaism. The same is true of Islam, what we refer to as Taliban is an ultra fundamentalist, Sunni "brand" of Islam. Washington and the media have thrown all Islam followers into the category "Taliban" meaning bad, evil, terrorists who are out to get the U.S. and Allies. The U.S. invasion of Afghanistan has contributed to the growth of the Taliban movement in Afghanistan, Pakistan and surrounds. One must remember that U.S. based Christian community has ultra fundamentalist sects who kill abortion providers who do not adhere to "their brand" of Christianity. Promoting the "Taliban" as the enemy, is essentially saying that the U.S. and NATO are at war with Islam; essentially, 21st Century Crusades. When the U.S. and NATO trample Islam, it drives moderate believers underground, and enhances support for radical "brands" of Islam to percolate to positions of authority.
The U.S. created and recognized Kosovo, a land area around the size of Manhattan Island, as an independent Nation. In order to satisfy the U.S. insistence for victory and success in Afghanistan, the immediate area surrounding Kabul, should be recognized as a separate Nation; and, the U.S. and NATO should abandoned Nation building in the remainder of the Afghan geography. Routing out “terrorists” is another matter entirely, one that requires accurate intelligence, surgical strikes and an invisible military presence.
Under the U.S. form of Federal Government, there is no provision like " initiative referendum" for the U.S. public to directly participate in how U.S. taxpayer dollars and troops will be used to pursue vainglory ambitions of those in power in Washington, D.C.. 30 years down the road when the U.S. population will be living at "third world" standards, the folly and arrogance of the U.S. Government and NATO allies will remain a burden on citizens who will only faintly remember Afghanistan and Iraq and why they have been committed to support these foreign lands.
Sunday, December 6, 2009
Thursday, October 8, 2009
Congress Disenfranchises 50 Million U.S. Senior Citizens
As is typical, Congress is again, conniving to make the most fragile of the U.S. Population, senior citizens 65+ in age, pay so that 20 million uninsured U.S. residents ( not limited to U.S. Citizens ) will be provided medical coverage under HEALTH CARE REFORM proposals now before Congress. All versions of Health Care Reform now muddling through Congress, both House and Senate, require cuts in Medicare benefits now provided to U.S. Seniors 65 years of age and over. We are talking about 50 million U.S. Seniors, the majority of whom now receive medical/health care coverage under Medicare Advantage programs. Medicare Advantage programs offer seniors medical and prescription drug benefits not provided by Medicare and no additional cost to the senior citizens. Basically, each senior, on a sliding income scale, pays at least $96.40 per month ( or more ), automatically deducted from each seniors Social Security benefits, for Medicare coverages. Private HMO's and Health Insurance Companies offer additional medical and prescription drug benefits to seniors ( at no additional cost to the seniors ) under the various Medicare Advantage programs available in all States. The Federal Government, in turn, pays the HMO'S and Health Insurance companies a medicare premium for each senior who signs up for a Medicare Advantage program through an HMO or Health Insurance Company. Pretty straight forward; the system is not perfect, but it has been and is working for tens of millions of U.S. Senior citizens 65+.
Now this is where Congress plays fast, loose and underhanded: how to fund, pay for, health care reform. Under every proposal in Congress, a significant part of the “funding” of Health Care Reform will be paid by cutting Medicare benefits to U.S. senior citizens; in short: no more medicare advantage programs, and fewer medicare benefits. Medicare premiums will be increased, i.e., monthly medicare deductions from Social Security benefits will be increased to a minimum of $125.00 per month or more. This is how Congress claims the Federal budget deficit will be reduced over the next 10 years.This is yet another congressional slight-of-hand to deceive and essentially defraud the U.S. voter and taxpayer. As a further fraud and subterfuge, Congress and the CBO ( Congressional Budget Office ) projections of Health Care Reform program costs are based on coverage of around 20 million U.S. residents who are now uninsured. By manipulating figures Congress and the CBO have radically understated the actual costs of Health Care Reform by trillions of dollars.
OK, now to the illegal alien/ immigration issue. The federal government admits to at least 12 million persons being illegally in the U.S. The real figure is more like 25-30 million illegals plus their “anchor” babies ( babies born in the U.S., at U.S. Taxpayer expense, from illegals ); realistically the combined number of illegals and kids could top 50 million - 15% of the U.S. Population. Congress is poised to
grant AMNESTY to these illegals. The Federal Government has already rescinded agreements and the authority for local law enforcement to arrest and detain illegal aliens; this action on the part of the Obama Administration, has virtually opened U.S. borders to all comers, and provided sanctuary and protection for the 30 plus million illegals already here. Congress has plans to grant amnesty to these illegals within the coming year or so; but, congress has intentionally postponed action because it does not want the public to know that 30 to 50 million persons will be added and receive medical and health care under all of the Health Care Reform bills now before Congress.
Let's redo the math: The current CBO cost projections, for the Baucus( Senate Bill ) Health Care Plan are based on adding around 20 million legal U.S. residents to be covered for health and medical benefits, at an estimated cost of $829 billion over 10 years. This figure does not take into account the 30-50 million illegals poise to be given AMNESTY . When you add the additional 30-50 million to the 20 million the CBO counted, we are realistically talking 70 million uninsured U.S. residents who will be covered by the Congressional and Presidents plans for Health Care Reform at a cost of well over $4 trillion dollars over the next 10 years. This will not be budget neutral without massive tax and medicare premium increases on the middle class. It will more then triple the Federal deficit resulting in a steep devaluation of the dollar.
The U.S. needs health care reform. U.S. industry needs health care reform in order to be competitive in world markets. 1000+ pages Congressional bills are hardly reform. All U.S. Health Insurance Companies and HMO's need to be made part of a risk pool, as is the case in many states with “assigned risk auto insurance”, and required to offer basic but limited health care coverage, pre-existing conditions included, for an initial monthly premium of $ 96.40, $250.00 a month for family of four, for U.S. citizens who have consecutively lived within the U.S. for 7 years. Medicare needs to employ auditors and prosecute providers when fraud is evident, and pay less attention to “coding” and paperwork regarding services and payments. Health Insurance Companies, HMO's and Individual Co-ops should be allowed to join and combine to negotiate with drug companies directly to reduce prescription drugs costs. Reform can be effectively accomplished in 50 pages or less of concisely drafted, readable, legislation.
Now this is where Congress plays fast, loose and underhanded: how to fund, pay for, health care reform. Under every proposal in Congress, a significant part of the “funding” of Health Care Reform will be paid by cutting Medicare benefits to U.S. senior citizens; in short: no more medicare advantage programs, and fewer medicare benefits. Medicare premiums will be increased, i.e., monthly medicare deductions from Social Security benefits will be increased to a minimum of $125.00 per month or more. This is how Congress claims the Federal budget deficit will be reduced over the next 10 years.This is yet another congressional slight-of-hand to deceive and essentially defraud the U.S. voter and taxpayer. As a further fraud and subterfuge, Congress and the CBO ( Congressional Budget Office ) projections of Health Care Reform program costs are based on coverage of around 20 million U.S. residents who are now uninsured. By manipulating figures Congress and the CBO have radically understated the actual costs of Health Care Reform by trillions of dollars.
OK, now to the illegal alien/ immigration issue. The federal government admits to at least 12 million persons being illegally in the U.S. The real figure is more like 25-30 million illegals plus their “anchor” babies ( babies born in the U.S., at U.S. Taxpayer expense, from illegals ); realistically the combined number of illegals and kids could top 50 million - 15% of the U.S. Population. Congress is poised to
grant AMNESTY to these illegals. The Federal Government has already rescinded agreements and the authority for local law enforcement to arrest and detain illegal aliens; this action on the part of the Obama Administration, has virtually opened U.S. borders to all comers, and provided sanctuary and protection for the 30 plus million illegals already here. Congress has plans to grant amnesty to these illegals within the coming year or so; but, congress has intentionally postponed action because it does not want the public to know that 30 to 50 million persons will be added and receive medical and health care under all of the Health Care Reform bills now before Congress.
Let's redo the math: The current CBO cost projections, for the Baucus( Senate Bill ) Health Care Plan are based on adding around 20 million legal U.S. residents to be covered for health and medical benefits, at an estimated cost of $829 billion over 10 years. This figure does not take into account the 30-50 million illegals poise to be given AMNESTY . When you add the additional 30-50 million to the 20 million the CBO counted, we are realistically talking 70 million uninsured U.S. residents who will be covered by the Congressional and Presidents plans for Health Care Reform at a cost of well over $4 trillion dollars over the next 10 years. This will not be budget neutral without massive tax and medicare premium increases on the middle class. It will more then triple the Federal deficit resulting in a steep devaluation of the dollar.
The U.S. needs health care reform. U.S. industry needs health care reform in order to be competitive in world markets. 1000+ pages Congressional bills are hardly reform. All U.S. Health Insurance Companies and HMO's need to be made part of a risk pool, as is the case in many states with “assigned risk auto insurance”, and required to offer basic but limited health care coverage, pre-existing conditions included, for an initial monthly premium of $ 96.40, $250.00 a month for family of four, for U.S. citizens who have consecutively lived within the U.S. for 7 years. Medicare needs to employ auditors and prosecute providers when fraud is evident, and pay less attention to “coding” and paperwork regarding services and payments. Health Insurance Companies, HMO's and Individual Co-ops should be allowed to join and combine to negotiate with drug companies directly to reduce prescription drugs costs. Reform can be effectively accomplished in 50 pages or less of concisely drafted, readable, legislation.
Wednesday, August 5, 2009
U.S Health Care Reform: 6 Components in Small Package
Congress has done a very poor job in being transparent to citizen voters. The various Health Care bills floating in the House and Senate are another example of back-room deals and midnight bargains that only a select few in Congress are privy to, leaving the public in total darkness. The current health bills are to gargantuan to download to home desktops. The U.S. government broadcasts to the world that the U.S. A. is a democracy; one would think true hard copies of all proposed legislative Bills would be available for public view at the State and local offices of each U.S. Senators and Representatives - no such thing in the U.S., where Congress is a closed private club.
Most concerned citizens have serious reservations regarding the sustainability of any bill of 1000+ page proportion that leads to the creation of yet another Washington agency. The current health care bills, will create more bureaucracy and will eat up billions in administrative costs, yielding few health care benefits to the general public. Pie-in-the-sky legislation generally falls on it's face, and 100's of millions of dollars are lost to outright fraud.
President Obama should take control of his runaway Democratic dominated Congress and present a concise( 50 pages or less ), readable, health care package in Bill form, for the reconvening ( after August recess ) Congress to consider. A new draft, U.S. Health Care Reform package, should include the following components:
1) The pool of beneficiaries needs to be defined and limited: U.S. Citizens who have continuously resident within the U.S. for 7 consecutive years. The reasons for this limitation relate to personal health histories. The treatment of imported conditions and diseases is extremely costly and will financially sink any program of wide public benefit.
There is a distinction between pre-existing conditions and imported conditions and diseases.
2) There needs to be individual and family caps on services: suggest - $100,000. over 3 years for individuals; $200,000. over 3 years for a family of four. A carte blanche program is not sustainable.
3) Co-ops and HMO's need to be exempt from anti-trust laws, to form bargaining groups, that can contract for prescription drugs with pharmaceutical companies, medical equipment supplies, doctors and other health related services.
4) Medical licenses granted by one-state need to be recognized by other states. There needs to be a national registry of licensed doctors and health professionals who are in good standing. With the addition 40-50 million uninsured, there will be a shortage of doctors to address the health care needs of these new beneficiaries. Further, there must be a limitation on medical malpractice: a national standard needs to be defined: suggest - carelessness or gross-negligence with a cap on pain and suffering calculated at three ( 3 ) times actual damages + costs; and attorneys fees should be limited to not more than 15% of any award. A national process would be patterned after that established in California.
5) A National Health Care Trust should be established. Congress and the Administration should be prohibited from "dipping" into the NHCT. The NHCT Account held by Fed, fully deductible contributions, by anyone or entity, would be made through any FDIC insured member bank. There are going to be millions who, for one reason or another, or during a specific time period (e.g., while unemployed ), will be unable to pay any premium ( distinguish between premium and co-pay). The NHCT would be used, exclusively, to reimburse health services providers for services provided.
6) A "basic" coverage plan needs to be specifically defined and initial premium costs need to be established: suggest - $96.40 a month for individual coverage; $250.00 a month for family of four - all premiums fully deductible / $20.00 co-pay each visit/$30.00 co-pay for specialists. This is where existing HMO's can be most helpful. HMO’s can provide realistic costs and define what "basic" coverage can be realistically be provided within such costs parameters.
The current 1000+ pages bills or any massive bill needs to be scrapped ! President Obama, send Congress back to the drawing board. Produce a realistic bill that is readable and read by each and every member of Congress, and can be understood by the general public; and that specifically defines " what you pay, and what you get ". The current U.S. health distribution system needs to be tweeked not replaced.
Most concerned citizens have serious reservations regarding the sustainability of any bill of 1000+ page proportion that leads to the creation of yet another Washington agency. The current health care bills, will create more bureaucracy and will eat up billions in administrative costs, yielding few health care benefits to the general public. Pie-in-the-sky legislation generally falls on it's face, and 100's of millions of dollars are lost to outright fraud.
President Obama should take control of his runaway Democratic dominated Congress and present a concise( 50 pages or less ), readable, health care package in Bill form, for the reconvening ( after August recess ) Congress to consider. A new draft, U.S. Health Care Reform package, should include the following components:
1) The pool of beneficiaries needs to be defined and limited: U.S. Citizens who have continuously resident within the U.S. for 7 consecutive years. The reasons for this limitation relate to personal health histories. The treatment of imported conditions and diseases is extremely costly and will financially sink any program of wide public benefit.
There is a distinction between pre-existing conditions and imported conditions and diseases.
2) There needs to be individual and family caps on services: suggest - $100,000. over 3 years for individuals; $200,000. over 3 years for a family of four. A carte blanche program is not sustainable.
3) Co-ops and HMO's need to be exempt from anti-trust laws, to form bargaining groups, that can contract for prescription drugs with pharmaceutical companies, medical equipment supplies, doctors and other health related services.
4) Medical licenses granted by one-state need to be recognized by other states. There needs to be a national registry of licensed doctors and health professionals who are in good standing. With the addition 40-50 million uninsured, there will be a shortage of doctors to address the health care needs of these new beneficiaries. Further, there must be a limitation on medical malpractice: a national standard needs to be defined: suggest - carelessness or gross-negligence with a cap on pain and suffering calculated at three ( 3 ) times actual damages + costs; and attorneys fees should be limited to not more than 15% of any award. A national process would be patterned after that established in California.
5) A National Health Care Trust should be established. Congress and the Administration should be prohibited from "dipping" into the NHCT. The NHCT Account held by Fed, fully deductible contributions, by anyone or entity, would be made through any FDIC insured member bank. There are going to be millions who, for one reason or another, or during a specific time period (e.g., while unemployed ), will be unable to pay any premium ( distinguish between premium and co-pay). The NHCT would be used, exclusively, to reimburse health services providers for services provided.
6) A "basic" coverage plan needs to be specifically defined and initial premium costs need to be established: suggest - $96.40 a month for individual coverage; $250.00 a month for family of four - all premiums fully deductible / $20.00 co-pay each visit/$30.00 co-pay for specialists. This is where existing HMO's can be most helpful. HMO’s can provide realistic costs and define what "basic" coverage can be realistically be provided within such costs parameters.
The current 1000+ pages bills or any massive bill needs to be scrapped ! President Obama, send Congress back to the drawing board. Produce a realistic bill that is readable and read by each and every member of Congress, and can be understood by the general public; and that specifically defines " what you pay, and what you get ". The current U.S. health distribution system needs to be tweeked not replaced.
Monday, July 27, 2009
“Israel to Bomb Iran - A story of the trail that wags the dog”
The Obama administration is learning that it is the tail ( Israel ) that wags the dog ( U.S.A. ) when it comes to the middle-east, flow of oil, and world finances.
Israel, since it's recognition in 1947, by then U.S. President Harry Truman, as a de-facto State of the U.S., has received more U.S. aid and subsidies than any other U.S. State and virtually every other Nation. In direct U.S. aid, Israel has received well over $400 billion U.S. taxpayer dollars; in addition, the U.S. has provided Israel with nuclear technology and military ordinance worth the billions of dollars. Bottom line, Israel is the most powerful U.S. State and is U.S. proxy abroad.
As the recent visit of U.S. Secretary of Defense Gates indicates, the Israeli government of Benjamin Netanyahu, and his Defense Chief Ehud Barak, intend to bomb Iran, resulting in the interruption of the flow of Iranian oil to China and other Asian customers. Israel is U.S. foreign policy. The bombing of Iran will interrupt oil flow and markets, permanently de-stabilize the middle-east with U.S. troop occupation for the foreseeable future. The world will be plunged into a full blown financial depression.
What is amazing is the silence of China. China stands to lose the most, politically and financially, from this planned chaos. One would think that China would assert itself as a world power, enter into defense/security agreements with Iran, Iraq, Syria, etc. ( fashioned after U.S. /NATO agreements ) and deploy troops and equipment accordingly, in order to check Israel, prevent the further de-stabilization of the middle-east, and to avert civilian catastrophe in the making. The Israeli bombing of Iran will trigger the collapse of world financial regimes, rendering the dollar of little value, and substantially diminishing the value of dollar assets held by China.
China has been reluctant to assume the roll of "peace maker" in a world tumbling into disorder under the leadership of the U.S. The U.S. thrives on and cultivates chaos and disorder. There is no single nation, with the exception of China, that has the capability of bringing order and common sense to the bargaining table. Hopefully, China will recognize it's roll and responsibility as "peace maker" before it is to late; now, appears appropriate.
Israel, since it's recognition in 1947, by then U.S. President Harry Truman, as a de-facto State of the U.S., has received more U.S. aid and subsidies than any other U.S. State and virtually every other Nation. In direct U.S. aid, Israel has received well over $400 billion U.S. taxpayer dollars; in addition, the U.S. has provided Israel with nuclear technology and military ordinance worth the billions of dollars. Bottom line, Israel is the most powerful U.S. State and is U.S. proxy abroad.
As the recent visit of U.S. Secretary of Defense Gates indicates, the Israeli government of Benjamin Netanyahu, and his Defense Chief Ehud Barak, intend to bomb Iran, resulting in the interruption of the flow of Iranian oil to China and other Asian customers. Israel is U.S. foreign policy. The bombing of Iran will interrupt oil flow and markets, permanently de-stabilize the middle-east with U.S. troop occupation for the foreseeable future. The world will be plunged into a full blown financial depression.
What is amazing is the silence of China. China stands to lose the most, politically and financially, from this planned chaos. One would think that China would assert itself as a world power, enter into defense/security agreements with Iran, Iraq, Syria, etc. ( fashioned after U.S. /NATO agreements ) and deploy troops and equipment accordingly, in order to check Israel, prevent the further de-stabilization of the middle-east, and to avert civilian catastrophe in the making. The Israeli bombing of Iran will trigger the collapse of world financial regimes, rendering the dollar of little value, and substantially diminishing the value of dollar assets held by China.
China has been reluctant to assume the roll of "peace maker" in a world tumbling into disorder under the leadership of the U.S. The U.S. thrives on and cultivates chaos and disorder. There is no single nation, with the exception of China, that has the capability of bringing order and common sense to the bargaining table. Hopefully, China will recognize it's roll and responsibility as "peace maker" before it is to late; now, appears appropriate.
Friday, July 24, 2009
Health Care Reform - Open Letter to President & Congress
Dear President Obama, Senators and Representatives:
Yes, the U.S. needs health care reform BUT NOT AT ANY COST. I have reviewed various snippets from the 850+ page draft bills that have been circulating in the House and Senate. I am very disappointed in both House and Senate versions, and both represent a step backward regarding health care reform.
Massive bills ( any Bill over 50 pages, let alone the gargantuan 850+ pages health care versions ) have the probability that not less then 33% will be subject to Fraud amounting to billions of dollars of waste. IT IS TIME FOR THE PRESIDENT, SENATE AND HOUSE TO GO BACK TO THE DRAWING BOARD, and craft a health care reform package and bill, consisting of not more then 35-50 pages, readable ( and is read and singed off by every Senator and Representative ) and comprehensible by the average U.S. Citizen.
Current versions of health care reform, essentially rob senior Medicare recipients of current benefits in order to pay for the health care of virtually everyone who is in, or makes it to the U.S. Acceptable health care reform must be limited to U.S. citizens who have continuously resided in the U.S. for seven(7)consecutive years. Existing Medicare benefits should be left in place, and a form of basic coverage for eligible U.S. citizens with initial premiums of $96.40 per month per individual, and $250.00 per month for a qualifying family of four should be provided. All health care premiums should remain fully deductible and employer benefits should not be taxed.
A National Health Care Trust should be established, and Congress should be prohibited from dipping into or "borrowing" from the NHC Trust for any purpose or reason. The NHC Trust Account would be held at and by the Federal Reserve, and contributions to such an account could be made through any FDIC insured Federal Reserve Bank. Contributions to the account would be voluntary and fully deductible by any individual, person, trust, association, corporation or entity making the same.Proceeds of the fund would be used to defer the costs of basic health care coverage for qualifying U.S. citizens who are unable to make the premium payments for basic coverage.
A majority of citizens are in favor of health care reform, but opposed to the proposed versions in the form of bills now circulating in the Senate and House of Representatives. It is unnecessary to "break to bank" to have meaningful health care reform, but there is much more work that needs to be done by the Administration, Senate and House of Representatives before a coherent, readable and financially feasible health care reform package is formulated.
Respectfully,
D. Citizen
Yes, the U.S. needs health care reform BUT NOT AT ANY COST. I have reviewed various snippets from the 850+ page draft bills that have been circulating in the House and Senate. I am very disappointed in both House and Senate versions, and both represent a step backward regarding health care reform.
Massive bills ( any Bill over 50 pages, let alone the gargantuan 850+ pages health care versions ) have the probability that not less then 33% will be subject to Fraud amounting to billions of dollars of waste. IT IS TIME FOR THE PRESIDENT, SENATE AND HOUSE TO GO BACK TO THE DRAWING BOARD, and craft a health care reform package and bill, consisting of not more then 35-50 pages, readable ( and is read and singed off by every Senator and Representative ) and comprehensible by the average U.S. Citizen.
Current versions of health care reform, essentially rob senior Medicare recipients of current benefits in order to pay for the health care of virtually everyone who is in, or makes it to the U.S. Acceptable health care reform must be limited to U.S. citizens who have continuously resided in the U.S. for seven(7)consecutive years. Existing Medicare benefits should be left in place, and a form of basic coverage for eligible U.S. citizens with initial premiums of $96.40 per month per individual, and $250.00 per month for a qualifying family of four should be provided. All health care premiums should remain fully deductible and employer benefits should not be taxed.
A National Health Care Trust should be established, and Congress should be prohibited from dipping into or "borrowing" from the NHC Trust for any purpose or reason. The NHC Trust Account would be held at and by the Federal Reserve, and contributions to such an account could be made through any FDIC insured Federal Reserve Bank. Contributions to the account would be voluntary and fully deductible by any individual, person, trust, association, corporation or entity making the same.Proceeds of the fund would be used to defer the costs of basic health care coverage for qualifying U.S. citizens who are unable to make the premium payments for basic coverage.
A majority of citizens are in favor of health care reform, but opposed to the proposed versions in the form of bills now circulating in the Senate and House of Representatives. It is unnecessary to "break to bank" to have meaningful health care reform, but there is much more work that needs to be done by the Administration, Senate and House of Representatives before a coherent, readable and financially feasible health care reform package is formulated.
Respectfully,
D. Citizen
Sunday, July 5, 2009
National Health Debate - Starting Point Missing
As the Obama Administration, Congress and nation continue to spar regarding health coverage for U.S. Citizens, and the 40+ million who are uninsured; a material item is missing from the debate: a $ dollar starting point.
None of the various "plans " address participant costs. The cart has been placed before the horse, and debates, without financial foundation, will drowned in rhetoric. Until there is agreement on feasible participant premiums there will be limited progress in resolving the U.S. national health disgrace.
The horse needs to be put back in the lead, before, and not after, the cart. Until the "masters of the universe" in Washington, D.C., can agree on participant premiums, a dollar starting point, meaningful discussion will remain vacuous. There is no need to re-invent the wheel. Medicare, on an income adjusted scale, pegs $96.40 a month per person, as the average participant premium. Any National
( U.S.A. ) plan should peg participant premiums be it $96.40 per month per person or $250.00 per month for a family of four, some dollar starting point needs to be agreed on before meaningful discussion can go forward.
Once a dollar participant premium is established,the debate can meaningfully move forward to determine what coverage can be purchased for the participant premium;what type of coverage will $96.40 a month buy ? There hundreds of HMO's and Health Insurers that can provide data addressing coverage given a participant premium amount. Caps are needed, including caps to Medicare payouts: e.g., no more then $200,000.00( two-hundred thousand dollars, drugs included ) in services to any participant or family during any one year, with a million dollar lifetime cap. For any "plan" to become law, there must be limitations and caps, a carte blanche system, or expanded Medicare, will bankrupt this Nation.
IF and it's a BIG IF, congress focuses on who will be included in any plan ( should be limited to U.S. citizens over 18 ), and can agree on a monthly dollar participant premium, there may be a chance debates over coverage can be resolved within financially feasible parameters, providing coverage through existing HMO's and Insurance Carriers with limited government participation. The U.S. government should limit it's direct participation to mandating uniform records keeping, billing, claims, dispute resolution and service classification standards; and publishing plan and coverage comparisons available in each State, similar to what Medicare publishes each year for Medicare Advantage plans.
None of the various "plans " address participant costs. The cart has been placed before the horse, and debates, without financial foundation, will drowned in rhetoric. Until there is agreement on feasible participant premiums there will be limited progress in resolving the U.S. national health disgrace.
The horse needs to be put back in the lead, before, and not after, the cart. Until the "masters of the universe" in Washington, D.C., can agree on participant premiums, a dollar starting point, meaningful discussion will remain vacuous. There is no need to re-invent the wheel. Medicare, on an income adjusted scale, pegs $96.40 a month per person, as the average participant premium. Any National
( U.S.A. ) plan should peg participant premiums be it $96.40 per month per person or $250.00 per month for a family of four, some dollar starting point needs to be agreed on before meaningful discussion can go forward.
Once a dollar participant premium is established,the debate can meaningfully move forward to determine what coverage can be purchased for the participant premium;what type of coverage will $96.40 a month buy ? There hundreds of HMO's and Health Insurers that can provide data addressing coverage given a participant premium amount. Caps are needed, including caps to Medicare payouts: e.g., no more then $200,000.00( two-hundred thousand dollars, drugs included ) in services to any participant or family during any one year, with a million dollar lifetime cap. For any "plan" to become law, there must be limitations and caps, a carte blanche system, or expanded Medicare, will bankrupt this Nation.
IF and it's a BIG IF, congress focuses on who will be included in any plan ( should be limited to U.S. citizens over 18 ), and can agree on a monthly dollar participant premium, there may be a chance debates over coverage can be resolved within financially feasible parameters, providing coverage through existing HMO's and Insurance Carriers with limited government participation. The U.S. government should limit it's direct participation to mandating uniform records keeping, billing, claims, dispute resolution and service classification standards; and publishing plan and coverage comparisons available in each State, similar to what Medicare publishes each year for Medicare Advantage plans.
Wednesday, June 10, 2009
U.S. CONSTITUTION TRASHED BY SUPREME COURT
The recent decision of the U.S. Supreme Court not to hear the petition of secured creditors of the Chrysler chapter 11 bankruptcy signals the end of the separation of powers concept taught in schools throughout the United States.
The brief order of the U.S. Supreme Court has once and for all put the fiction of a balance of power between the Executive, Legislative and Judicial Branches to bed. Each once separate branch, now is part of single team, with the Executive branch, and President virtually in complete control. The distinction once made, between our form of government in the U.S., and forms the U.S. has labeled as Dictatorships, has been muddied by the U.S. Supreme Court. The irony is, that this is what Bush administration V.P. Cheney was pushing for the past 8 years, an "Imperial Presidency".
What the U.S. Supreme Court did, without opinion, was to say that once monies are appropriated by Congress, the President and Executive branch can do whatever they wish with taxpayer funds. And that a Judge has full authority to unilaterally modify any contract, in any way, the Judge chooses , and there is no appeal from the Judges decision as it relates to Federal Bankruptcy laws. This means that no contract or security is enforceable in a Chapter 11 Bankruptcy in the U.S.
Investors should take note; there is no protection against the loss of your investment; and, be it land, buildings, or equipment pledged as security for a loan, all security can evaporate when a Corporation files for Chapter 11 in the U.S. What this means for debtor Corporations, is that Chapter 11 is the way out of virtually all obligations.
The brief order of the U.S. Supreme Court has once and for all put the fiction of a balance of power between the Executive, Legislative and Judicial Branches to bed. Each once separate branch, now is part of single team, with the Executive branch, and President virtually in complete control. The distinction once made, between our form of government in the U.S., and forms the U.S. has labeled as Dictatorships, has been muddied by the U.S. Supreme Court. The irony is, that this is what Bush administration V.P. Cheney was pushing for the past 8 years, an "Imperial Presidency".
What the U.S. Supreme Court did, without opinion, was to say that once monies are appropriated by Congress, the President and Executive branch can do whatever they wish with taxpayer funds. And that a Judge has full authority to unilaterally modify any contract, in any way, the Judge chooses , and there is no appeal from the Judges decision as it relates to Federal Bankruptcy laws. This means that no contract or security is enforceable in a Chapter 11 Bankruptcy in the U.S.
Investors should take note; there is no protection against the loss of your investment; and, be it land, buildings, or equipment pledged as security for a loan, all security can evaporate when a Corporation files for Chapter 11 in the U.S. What this means for debtor Corporations, is that Chapter 11 is the way out of virtually all obligations.
Monday, May 11, 2009
The Way to Win Wars in the 21st Century
Each and every day the U.S. pours ten of millions of taxpayer dollars [ somewhere in the neighborhood of $$$$$$$$$$$$$4 trillion spent to date ] in our "war" efforts in Iraq, Afghanistan, and now, Pakistan. And Congress buries the real costs associated with the loss and injury to U.S. troops. After all, what can the average U.S. citizen expect when U.S. military Brass, Congress and the Administration are steeped in 18th century Prussian mentality that "...might is right...". When are the masters of the universe in Washington, D.C. going to recognize 21st century realities ? Ideology and religion are impervious to bullets. You can't invade another nation with a different language, history, religious belief and economy with any realistic expectation, except failure. What the U.S. "war" efforts are doing, is to create generations of the future that "hate" the U.S. Does anyone believe that an 8 year old Iraqi or Afghani orphan, who has lost his family by "collateral" damage caused by U.S. forces, is going to grow up and say it was all for a good cause ?
Anyone who has spent time in the middle-east finds that western "logic" has no application and little impact on their traditions: if you are a foreigner to their lands, and something happens, it is your fault; you had no business being there in the first place. Fortunately technology has provided the U.S. with a way to salvage the quagmire the Washington "masters of the universe"
have gotten us into, and, save billions of U.S. dollars and lives in the process. There is a way, but it will be difficult to convince Congress, the Administration and U.S. Military Brass that anything real can be accomplished without the mass spilling of blood. Carnage appears to be a popular emblem worn by a substantial majority of those in Washington.
What should and could be done, is for the U.S. to immediately pull all forces out of Iraq, Afghanistan, and Pakistan. All forces including Blackwater and the other "private security" forces paid for by the U.S. and deployed in these countries; and, request NATO and other coalition forces to do the same. To increase the UMA ( unmanned aircraft ), and unarmed, drone, overflights of areas of concern launched from offshore U.S. aircraft carriers, or from volunteer host third countries; providing the "governments"of Iraq, Afghanistan and Pakistan, with real-time intelligence regarding suspected activities. It is and remains the responsibility of the "governments" of Iraq, Afghanistan and Pakistan to police their respective nations and route-out those persons and organizations that destabilize their respective countries and pose a threat beyond their borders. The U.S. should get out of the business of "playing God" hence unarmed drones. If killing is warranted, it needs to be done by nationals and forces of the respective countries and not by foreign U.S., Coalition or NATO forces.
Unless Washington is willing to commit to 100 year "wars", the bankruptcy of the U.S. and virtual "slavery" of U.S.worker/taxpayers, there must be a paradigm shift in Washington. Winning the hearts and minds of the peoples of Iraq, Afghanistan and Pakistan, will not be accomplished by guns, bombs, missiles or rhetoric. These countries will not succumb to Western ways, values and religion in our lifetimes. The U.S. has the technology to assist the governments of Iraq, Afghanistan and Pakistan in making difficult decisions, without the physical commitment of U.S. boots on the ground. 21st Century conflicts cannot be resolved by resorting to 18th Century mentalities.
Anyone who has spent time in the middle-east finds that western "logic" has no application and little impact on their traditions: if you are a foreigner to their lands, and something happens, it is your fault; you had no business being there in the first place. Fortunately technology has provided the U.S. with a way to salvage the quagmire the Washington "masters of the universe"
have gotten us into, and, save billions of U.S. dollars and lives in the process. There is a way, but it will be difficult to convince Congress, the Administration and U.S. Military Brass that anything real can be accomplished without the mass spilling of blood. Carnage appears to be a popular emblem worn by a substantial majority of those in Washington.
What should and could be done, is for the U.S. to immediately pull all forces out of Iraq, Afghanistan, and Pakistan. All forces including Blackwater and the other "private security" forces paid for by the U.S. and deployed in these countries; and, request NATO and other coalition forces to do the same. To increase the UMA ( unmanned aircraft ), and unarmed, drone, overflights of areas of concern launched from offshore U.S. aircraft carriers, or from volunteer host third countries; providing the "governments"of Iraq, Afghanistan and Pakistan, with real-time intelligence regarding suspected activities. It is and remains the responsibility of the "governments" of Iraq, Afghanistan and Pakistan to police their respective nations and route-out those persons and organizations that destabilize their respective countries and pose a threat beyond their borders. The U.S. should get out of the business of "playing God" hence unarmed drones. If killing is warranted, it needs to be done by nationals and forces of the respective countries and not by foreign U.S., Coalition or NATO forces.
Unless Washington is willing to commit to 100 year "wars", the bankruptcy of the U.S. and virtual "slavery" of U.S.worker/taxpayers, there must be a paradigm shift in Washington. Winning the hearts and minds of the peoples of Iraq, Afghanistan and Pakistan, will not be accomplished by guns, bombs, missiles or rhetoric. These countries will not succumb to Western ways, values and religion in our lifetimes. The U.S. has the technology to assist the governments of Iraq, Afghanistan and Pakistan in making difficult decisions, without the physical commitment of U.S. boots on the ground. 21st Century conflicts cannot be resolved by resorting to 18th Century mentalities.
Sunday, April 19, 2009
The Future for U.S. & World Economies
Recession, depression, stagnation; labels aside, main-street U.S.A. is in and will continue to be faced with a decline in demand for goods and services the majority of citizens can no longer afford. While academics , "professional" economists, the Fed and Presidential advisers, quibble over semantics, theories and blind hopes the U.S. economy will be long, very long to to regain its status circa 2005.
Today "bail-out", "stimulus", and "negative interest" are the buzz words. The reality the majority of Americans well know, is that the jobs that they will get in the future, will not pay what the jobs they lost paid in 2005. So what does this mean for the U.S. ? What does this mean for for the rest of the world ?
The U.S. has been exporting jobs and production to foreign, off-shore, countries for over a decade. This is common knowledge; the labor differential, NAFTA and related trade agreements have hastened the process. While CEO's have pocketed tens to hundreds of millions, U.S officials and the U.S. Congress have never addressed the "end-of-the-day" scenario. 2008-9 are the "end-of-the-day"; the end of millions of U.S. jobs, jobs at pay rates, that will not return. Slight-of-hand economics and policies will no longer mask the reality that the U.S. economic engine has burned itself out.
What does it mean ? It means that the disposable income of the U.S. worker will decline over the coming years; decline as much as 33%, or more, over the next five ( 5 ) years. This decline will be aggravated by inflation: increased costs for electric, water, sewer, garbage phone and utilities, and higher local and state taxes. Accordingly, the U.S. consumer will buy 33%+ fewer goods and services. The disposable income of U.S. consumers and high U.S. consumption rates, have been the fuel for world economies. As of late, China has been the major producer of goods consumed by the U.S.; Europe and other emerging economies have benefited proportionally. The decline of average wage earned by U.S. workers will have a major impact on other economies. While academics, economists, politicians and world leaders focus on the "financial" community, liquidity and credit, the real problem is the decline in U.S. worker wages and disposable income. Few, if any, in high places understand the bottom-line which means that the future, next five plus years, spell gloom for the U.S. and the rest of the civilized world.
Today "bail-out", "stimulus", and "negative interest" are the buzz words. The reality the majority of Americans well know, is that the jobs that they will get in the future, will not pay what the jobs they lost paid in 2005. So what does this mean for the U.S. ? What does this mean for for the rest of the world ?
The U.S. has been exporting jobs and production to foreign, off-shore, countries for over a decade. This is common knowledge; the labor differential, NAFTA and related trade agreements have hastened the process. While CEO's have pocketed tens to hundreds of millions, U.S officials and the U.S. Congress have never addressed the "end-of-the-day" scenario. 2008-9 are the "end-of-the-day"; the end of millions of U.S. jobs, jobs at pay rates, that will not return. Slight-of-hand economics and policies will no longer mask the reality that the U.S. economic engine has burned itself out.
What does it mean ? It means that the disposable income of the U.S. worker will decline over the coming years; decline as much as 33%, or more, over the next five ( 5 ) years. This decline will be aggravated by inflation: increased costs for electric, water, sewer, garbage phone and utilities, and higher local and state taxes. Accordingly, the U.S. consumer will buy 33%+ fewer goods and services. The disposable income of U.S. consumers and high U.S. consumption rates, have been the fuel for world economies. As of late, China has been the major producer of goods consumed by the U.S.; Europe and other emerging economies have benefited proportionally. The decline of average wage earned by U.S. workers will have a major impact on other economies. While academics, economists, politicians and world leaders focus on the "financial" community, liquidity and credit, the real problem is the decline in U.S. worker wages and disposable income. Few, if any, in high places understand the bottom-line which means that the future, next five plus years, spell gloom for the U.S. and the rest of the civilized world.
Thursday, April 2, 2009
G-20 HUFF & PUFF
The G-20 meeting has accomplished little to nothing toward resolving the global financial discord. One major stumbling block is the U.S. posture and neo-Keynesian approach to resolving the U.S. recession, stimulus ( government ) spending. As the main world reserve currency, the U.S. dollars use impacts global trade and the value of all other currencies in play. The U.S. posture and U.S. resistance to the regulatory approach favored by most European and Asian nations, is the harbinger of a prolonged global recession now cascading to depression.
Had the U.S. approached the G-20 with an open minded plan, some agreement may have been possible at the March meeting. Instead the U.S. appeared armed with Obama rhetoric and good will, but no acceptable "plan" to address world concerns.
In November, 2008, as the ugly head of recession was prominent in the U.S., common sense and straight forward suggestions were posed to the U.S. congress: Cap interest rates at 12 % simple interest per annum, 6 % on 20 year home loans; eliminate "day trading", and require that stocks be held for a minimum of 13 months; restrict commodities trading to end users only; limit financial instruments to traditional stocks and bonds; repeal Pub.Law 106-554(1)(a)(5) [ Commodities Futures Modernization Act ] and re-institute Glass-Steagall [ Banking Act of 1933 ] provisions. In addition, it was suggested to the U.S. congress, that there be modifications to the Federal Reserve Act of 1913, requiring among other things, that banks rates have a universal rate range of .05% and minimum reserve requirements of 20% be established.
Had the U.S. appeared and presented G-20 members with a "plan" based on components designed to stabilize financial markets, e.g., retail interest cap, central bank rate range of .05%, elimination of " day-trading" of stocks, and restriction of commodities trading to end users, there may well have been something concrete and tranquilizing emerging from the G-20, March, 2009, meeting. As it is, G-20 accomplished little except as a format for G-20 leaders to get to know President Obama. World financial markets remain in disarray, as the global recession deepens giving rise to political instability in certain G-20 participants. What a mess the U.S. Congress has gotten the world into.
Had the U.S. approached the G-20 with an open minded plan, some agreement may have been possible at the March meeting. Instead the U.S. appeared armed with Obama rhetoric and good will, but no acceptable "plan" to address world concerns.
In November, 2008, as the ugly head of recession was prominent in the U.S., common sense and straight forward suggestions were posed to the U.S. congress: Cap interest rates at 12 % simple interest per annum, 6 % on 20 year home loans; eliminate "day trading", and require that stocks be held for a minimum of 13 months; restrict commodities trading to end users only; limit financial instruments to traditional stocks and bonds; repeal Pub.Law 106-554(1)(a)(5) [ Commodities Futures Modernization Act ] and re-institute Glass-Steagall [ Banking Act of 1933 ] provisions. In addition, it was suggested to the U.S. congress, that there be modifications to the Federal Reserve Act of 1913, requiring among other things, that banks rates have a universal rate range of .05% and minimum reserve requirements of 20% be established.
Had the U.S. appeared and presented G-20 members with a "plan" based on components designed to stabilize financial markets, e.g., retail interest cap, central bank rate range of .05%, elimination of " day-trading" of stocks, and restriction of commodities trading to end users, there may well have been something concrete and tranquilizing emerging from the G-20, March, 2009, meeting. As it is, G-20 accomplished little except as a format for G-20 leaders to get to know President Obama. World financial markets remain in disarray, as the global recession deepens giving rise to political instability in certain G-20 participants. What a mess the U.S. Congress has gotten the world into.
Wednesday, March 18, 2009
Political Contributions = BIG AIG $$$$$$ REWARDS
Obama was voted in to "change" Washington. The only change appears to be the party, now Democrats, that get "pay" to "play". AIG "invested" $100,000.+ in Senator Dodd, Senate Banking Chair, and $100,000.+ in Obama, now President. What AIG bought for these contributions was the AIG "loophole" Senator Dodd inserted in the massive, 1100+ page, American Recovery/Stimulus Act, Pub. Law 111-5, a loophole that has cost U.S. taxpayers $165,000,000. million in AIG bonuses to date and likely much more in the future. What a return for the AIG $200,000.00 investment !!, $165 million in less then 1 year !!! Political investments continue to pay off BIG, VERY BIG, by comparison to the paltry return hard working, main-street, Americans can get on bank CD's. The thing that has changed in Washington is BIGGER BONUSES for those who make significant campaign contributions. This is just the start, there are lots of "loopholes" in the 1100+ pages of Pub.Law 111-5, that will cost taxpayers many, many more billions and bankrupt future generations of citizens.
Tuesday, March 10, 2009
THE TEMPORARY WORKER
The U.S. is writing a new chapter in the book of employment. The global financial crisis created by unregulated private U.S. financial sector interests is raising havoc not only with the lifestyles of hundreds of millions around the world, but on what has been traditionally thought of as employment. Gone forever are the days when a U.S. worker could expect to be employed by a private company for ten (10), fifteen (15) years or longer. Retirement from a single employer ( except for government jobs ) has become virtually extinct. The U.S. and parts of the world that follow the U.S. model are now embarking on the path of the " TEMPORARY WORKER ".
The " temporary worker " bodes well for U.S. companies and foreign firms that follow U.S. models, in that "retirement " no longer presents a "cost" to the company. Federal, State and Local Governments will survive as the refuge for employee "retirement". This shift will be reflected in the increasing "cost" of government that translates directly into increased taxes on the population in general.
Taxes and the increased "cost" of government reduce, and do not contribute to real GDP. Employment by governmental entities, is not productive nor market employment, because taxes are not optional. Market forces, and choice, play no part in government employment. And, unlike other enlightened countries, the U.S. has an open border, open employment policy: if you get to the U.S., you can be employed. This new era, ushered in by the current recession (depression) provides the foundation for the new "temporary worker" status for all U.S. private sector workers. It includes employment created by American Recovery Act deficit spending as the employment by private firms contracted for "stimulus" programs only lasts as long as Washington continues to dole out money. Such employment is "temporary" and will not create a climate for real jobs in the private sector. All one has to do is look at the data complied by good old "Uncle Sam" over the past 10 years. The fastest growing sector in the U.S. is government related jobs, i.e., the U.S. has become the land of BIG GOVERNMENT.
The new "temporary worker" will have little job security, and therefore, will live, as many U.S. workers now do, on a pay-check-to-pay check basis. Banking and credit institutions will have to adjust lending practices accordingly. The idea if home ownership and a 20 or 30 year mortgage predicated on a steady income stream, will likely fall by the way side except for the wealthiest 1% to 2% of the population. In short, the U.S. will retreat to lifestyles and expectations reminiscent of 1910. Although this is not the aim of the Obama administration and U.S. congress, will become the reality as a consequent of their misguided actions. The surviving private sector will continue to struggle to underwrite the increasing cost of Big Government, and will fill diminished ranks of workers from the increased pool of "temporary workers" though-out the world decreasing the hourly value and wage of every worker, and significantly reducing the employment of U.S. citizens.
Don't tear up, nostalgia aside, HELLO ....TEMPORARY WORKERS !
The " temporary worker " bodes well for U.S. companies and foreign firms that follow U.S. models, in that "retirement " no longer presents a "cost" to the company. Federal, State and Local Governments will survive as the refuge for employee "retirement". This shift will be reflected in the increasing "cost" of government that translates directly into increased taxes on the population in general.
Taxes and the increased "cost" of government reduce, and do not contribute to real GDP. Employment by governmental entities, is not productive nor market employment, because taxes are not optional. Market forces, and choice, play no part in government employment. And, unlike other enlightened countries, the U.S. has an open border, open employment policy: if you get to the U.S., you can be employed. This new era, ushered in by the current recession (depression) provides the foundation for the new "temporary worker" status for all U.S. private sector workers. It includes employment created by American Recovery Act deficit spending as the employment by private firms contracted for "stimulus" programs only lasts as long as Washington continues to dole out money. Such employment is "temporary" and will not create a climate for real jobs in the private sector. All one has to do is look at the data complied by good old "Uncle Sam" over the past 10 years. The fastest growing sector in the U.S. is government related jobs, i.e., the U.S. has become the land of BIG GOVERNMENT.
The new "temporary worker" will have little job security, and therefore, will live, as many U.S. workers now do, on a pay-check-to-pay check basis. Banking and credit institutions will have to adjust lending practices accordingly. The idea if home ownership and a 20 or 30 year mortgage predicated on a steady income stream, will likely fall by the way side except for the wealthiest 1% to 2% of the population. In short, the U.S. will retreat to lifestyles and expectations reminiscent of 1910. Although this is not the aim of the Obama administration and U.S. congress, will become the reality as a consequent of their misguided actions. The surviving private sector will continue to struggle to underwrite the increasing cost of Big Government, and will fill diminished ranks of workers from the increased pool of "temporary workers" though-out the world decreasing the hourly value and wage of every worker, and significantly reducing the employment of U.S. citizens.
Don't tear up, nostalgia aside, HELLO ....TEMPORARY WORKERS !
Monday, March 9, 2009
TO BIG TO FAIL
Washington has overlooked and continues to ignore the part the failure to enforce U.S. Anti-Trust laws [ 15 U.S.C. 1 et.seq. ] has played in the economic collapse ( current recession/depression ) of the U.S. and the collateral damage it has caused to the world community. As far back as 1890 [ Sherman Act ] it was recognized that a company or corporation could grow to a point of suffocating free markets. Since the 1960's Washington has been a rudderless ship when it comes to preventing acquisitions and mergers that tend to create monopolies that stifle free markets; and, this failure has lead to the creation of the " TO BIG TO FAIL " now U.S. Government/Taxpayer bail out of the likes of AIG, Wall-Street, Big Banks and G.M. U.S. politics and ideological differences prevented the U.S. from vigorously enforcing Anti-Trust laws long on the books. Main-street U.S.A. and the average Joe & Jane of other nations have paid the price of U.S. Government lethargy.
Had Washington enforced anti-trust laws long on the books [ Sherman Act 1890;Clayton Act 1914 ] AIG, Goldman Sachs, Bank of America, CityBank etc. would never have grown to the size that would imperil the U.S. "TO BIG TO FAIL" taxpayer bail-out would never have come into play. Fingers continue to point to the U.S. housing bubble, and sub-prime mortgage collapse as the cause of the current economic crisis. These were indeed factors and the probable trigger for the current crisis. However, had the U.S. anti-trust laws been vigorously enforced mega-banks (Bank of America ) and mega insurance and financial institutions (AIG, Goldman Sachs, etc. ) would never have achieved the size and dominance to significantly impact the U.S. and world economies. Size does matter, bigger is not better; by containing the size of institutions, not only is competition enhanced, but the failure of a single institution will not cause market collapse.
There is entirely too much outside political influence in Washington ( lobbyists, PAC's, etc. ) for the U.S. to function except at a remedial level, far below what is required to effectively be a leader in today's world.
Had Washington enforced anti-trust laws long on the books [ Sherman Act 1890;Clayton Act 1914 ] AIG, Goldman Sachs, Bank of America, CityBank etc. would never have grown to the size that would imperil the U.S. "TO BIG TO FAIL" taxpayer bail-out would never have come into play. Fingers continue to point to the U.S. housing bubble, and sub-prime mortgage collapse as the cause of the current economic crisis. These were indeed factors and the probable trigger for the current crisis. However, had the U.S. anti-trust laws been vigorously enforced mega-banks (Bank of America ) and mega insurance and financial institutions (AIG, Goldman Sachs, etc. ) would never have achieved the size and dominance to significantly impact the U.S. and world economies. Size does matter, bigger is not better; by containing the size of institutions, not only is competition enhanced, but the failure of a single institution will not cause market collapse.
There is entirely too much outside political influence in Washington ( lobbyists, PAC's, etc. ) for the U.S. to function except at a remedial level, far below what is required to effectively be a leader in today's world.
Tuesday, February 17, 2009
United States the Pied Piper of Financial Doom
by http://socrates911.blogspot.com
The world is aware that the United States suffered a depression in the 1930's which resulted in a number of Congressional regulatory acts [ Glass-Steagall Act of 1933 included ], complimenting existing Anti-Trust laws, and designed to prevent a future financial collapse in the U.S.A.
Full implementation of these regulatory acts occurred after WWII, and provided a basis of stability for U.S. banks and financial institutions. As banks, financial institutions and corporations gained political influence over Washington, the regulators became, under political pressure from both Democrats and Republicans, lax in the enforcement of these 1890-1936 laws. Beginning with the Reagan administration, there was increased pressure to " deregulate ". Laws that allowed the U.S. to become the Pied Piper of the world, financial world in particular, were increasingly modified or repealed during the ensuing years 1960-2005. The U.S. enjoyed economic prosperity previously unknown in the world, enticing foreign governments, banks, financial institutions and investors to " buy in " and finance the "AMERICAN DREAM " by purchasing financial contrivances dreamed-up by Wall Street, and continuing to buy U.S. Government, Treasury issues.
The lesson learned, follow the U.S. Pied Piper and you will be doomed.
Unless and until the U.S. re-enacts bank and financial regulatory legislation created in the 1930's and strictly enforces the Sherman and Clayton Anti-Trust Acts preventing mergers, the U.S., regardless of any "stimulus" Washington conjures up, will not be able to pull itself out of the depression it now faces. The rest of the world and particularly the remaining members of the G8 ( minus the U.S. = G7 ) need to develop compacts independent of the U.S. The U.S. is no longer the leader and has little to offer other nations except to buy U.S. debt so that the U.S. can purse its narcissistic interests and military objectives.
What the U.S. needs to do, but does not have the Congressional will to do, is to “man-up” to the fact that it alone has lead fellow G8 nations and other less fortunate nations, to the brink of financial collapse. The U.S. needs to co-ordinate its Anti-Trust laws, bank, financial and insurance regulations and regulatory agencies with those of other G8 nations. Agree on central bank borrowing rates that are within 1/2 % of rates established by other G8 Central banks, agree on a universal retail interest cap at 12% simple interest, and restrict the sale, assignment, transfer of stock and financial instruments, including commodity contracts, requiring, among other things, that stocks, bonds, warrants and the like must be held for a period of not less then 13 months. One of the main, but little discussed components, of the global financial mess the U.S. has created, was and is market volatility. Mechanisms to stabilize global financial markets will be necessary before there can be any true recovery. The U.S. “stimulus” is inward looking, and makes no provision for new and required stability and regulatory mechanisms; the caveat to the rest of the G8 club, and other nations, is to look else ware for leadership.
The world is aware that the United States suffered a depression in the 1930's which resulted in a number of Congressional regulatory acts [ Glass-Steagall Act of 1933 included ], complimenting existing Anti-Trust laws, and designed to prevent a future financial collapse in the U.S.A.
Full implementation of these regulatory acts occurred after WWII, and provided a basis of stability for U.S. banks and financial institutions. As banks, financial institutions and corporations gained political influence over Washington, the regulators became, under political pressure from both Democrats and Republicans, lax in the enforcement of these 1890-1936 laws. Beginning with the Reagan administration, there was increased pressure to " deregulate ". Laws that allowed the U.S. to become the Pied Piper of the world, financial world in particular, were increasingly modified or repealed during the ensuing years 1960-2005. The U.S. enjoyed economic prosperity previously unknown in the world, enticing foreign governments, banks, financial institutions and investors to " buy in " and finance the "AMERICAN DREAM " by purchasing financial contrivances dreamed-up by Wall Street, and continuing to buy U.S. Government, Treasury issues.
The lesson learned, follow the U.S. Pied Piper and you will be doomed.
Unless and until the U.S. re-enacts bank and financial regulatory legislation created in the 1930's and strictly enforces the Sherman and Clayton Anti-Trust Acts preventing mergers, the U.S., regardless of any "stimulus" Washington conjures up, will not be able to pull itself out of the depression it now faces. The rest of the world and particularly the remaining members of the G8 ( minus the U.S. = G7 ) need to develop compacts independent of the U.S. The U.S. is no longer the leader and has little to offer other nations except to buy U.S. debt so that the U.S. can purse its narcissistic interests and military objectives.
What the U.S. needs to do, but does not have the Congressional will to do, is to “man-up” to the fact that it alone has lead fellow G8 nations and other less fortunate nations, to the brink of financial collapse. The U.S. needs to co-ordinate its Anti-Trust laws, bank, financial and insurance regulations and regulatory agencies with those of other G8 nations. Agree on central bank borrowing rates that are within 1/2 % of rates established by other G8 Central banks, agree on a universal retail interest cap at 12% simple interest, and restrict the sale, assignment, transfer of stock and financial instruments, including commodity contracts, requiring, among other things, that stocks, bonds, warrants and the like must be held for a period of not less then 13 months. One of the main, but little discussed components, of the global financial mess the U.S. has created, was and is market volatility. Mechanisms to stabilize global financial markets will be necessary before there can be any true recovery. The U.S. “stimulus” is inward looking, and makes no provision for new and required stability and regulatory mechanisms; the caveat to the rest of the G8 club, and other nations, is to look else ware for leadership.
Monday, February 9, 2009
PERSPECTIVE IS LACKING IN THE OBAMA "STIMULUS"
President Obama does not need to tell main-street U.S.A. that the U.S. is experiencing HARD TIMES and that their immediate future is bleak. The average U.S. citizen is living the nightmare. Everyone understands that something needs to be done; accordingly, citizens look to Washington for answers. But lets look the data that President Obama is presenting: an $800 billion, now $900 billion, and, with interest carry, over $1.3 to $1.6 trillion "stimulus" on top of the $700 billion passed TARP program of 2008, added to the $126 billion 2008, AIG bail-out.
Some perspective is needed: it took George Bush 8 years to run up the U.S. National debt to $1.2 trillion dollars. President Obama has been in office for 21 days and proposes that we MORE THEN DOUBLE the national debt. So, rhetoric aside, what does this mean. It means, among other things, that the U.S. dollar, your and my savings, Social Security and other benefits have been devalued, i.e., it will take more dollars to buy the same food, fuel, medical and health services then it did in 2008.
President Obama, and Congress will not pin-point the number of private sector jobs that will actually be created by DOUBLING the national debt. Rhetoric should not be confused with actual private sector job creation. Government jobs, because they are directly taxpayer funded, actually add to the national debt, and do not contribute to the economic growth of the U.S. We are headed to 15% nationwide unemployment; Obama pontificates that the "stimulus" will create 4 million jobs. If we take a slim $800 billion as the proposed "stimulus" package base figure, and assuming that 4 million jobs will be created, that means that it will take $200,000.00 for each job created. Wouldn't be much simpler to pay each unemployed head of household $50,000.00 to pay off their debts and bills ? That would amount a treasury expenditure of a mere $ 200 billion and it actually help troubled homeowners, plus save the taxpayers over $600 billion. Another thought, would be to suspend the payment of Federal Income taxes for everyone making under $250,000.00 a year, for one (1) year, a tax holiday ? No treasury expenditure required; yet talk about "stimulus ".
We all know Washington is not composed of the best, brightest or even those with common sense. That is why the Obama/Pelosi "stimulus" consists of over 650 pages, of loop holes, so persons and business other then the average main-street U.S. citizen (we are the one's suffering) and those with political influence can get the "big" pay-off. The "stimulus" bill proposed by the Obama/Pelosi team is nothing more then a ruse, to direct taxpayer funds to privileged persons, corporations, States and Cities with the right political connections, just as the TARP bail-out of the Bush administration was designed to benefit those on Wall-Street and in the banking community who pushed the U.S. economy off-the-cliff. In short, it is Washington doing business as usual.
Some perspective is needed: it took George Bush 8 years to run up the U.S. National debt to $1.2 trillion dollars. President Obama has been in office for 21 days and proposes that we MORE THEN DOUBLE the national debt. So, rhetoric aside, what does this mean. It means, among other things, that the U.S. dollar, your and my savings, Social Security and other benefits have been devalued, i.e., it will take more dollars to buy the same food, fuel, medical and health services then it did in 2008.
President Obama, and Congress will not pin-point the number of private sector jobs that will actually be created by DOUBLING the national debt. Rhetoric should not be confused with actual private sector job creation. Government jobs, because they are directly taxpayer funded, actually add to the national debt, and do not contribute to the economic growth of the U.S. We are headed to 15% nationwide unemployment; Obama pontificates that the "stimulus" will create 4 million jobs. If we take a slim $800 billion as the proposed "stimulus" package base figure, and assuming that 4 million jobs will be created, that means that it will take $200,000.00 for each job created. Wouldn't be much simpler to pay each unemployed head of household $50,000.00 to pay off their debts and bills ? That would amount a treasury expenditure of a mere $ 200 billion and it actually help troubled homeowners, plus save the taxpayers over $600 billion. Another thought, would be to suspend the payment of Federal Income taxes for everyone making under $250,000.00 a year, for one (1) year, a tax holiday ? No treasury expenditure required; yet talk about "stimulus ".
We all know Washington is not composed of the best, brightest or even those with common sense. That is why the Obama/Pelosi "stimulus" consists of over 650 pages, of loop holes, so persons and business other then the average main-street U.S. citizen (we are the one's suffering) and those with political influence can get the "big" pay-off. The "stimulus" bill proposed by the Obama/Pelosi team is nothing more then a ruse, to direct taxpayer funds to privileged persons, corporations, States and Cities with the right political connections, just as the TARP bail-out of the Bush administration was designed to benefit those on Wall-Street and in the banking community who pushed the U.S. economy off-the-cliff. In short, it is Washington doing business as usual.
Wednesday, February 4, 2009
TO THE POINT 6 page STIMULUS - 650+ page HR #1 is GARBAGE
SHORT TITLE - [ DRAFT ] RECOVERY & MODERNIZATION ACT
1.0- PREAMBLE: The Constitution of the United State of America provides that citizens and voters of the United States shall govern and rule by an through duly elected representatives. Article I, Section 8, Subsections 1- 6, and subsection 18, vest Congress with the power and duty to control the money, credit and commerce of the United States, this power was intentionally with-held from the Executive Branch and President of the United States.
2.0- PURPOSE - Emergency: Congress and the citizenry of the United States have been confronted with an unprecedented financial crisis, affecting the value of the dollar, the stability of domestic and world markets, and adversely impacting the public, health, safety and welfare of the United States and its citizenry. These circumstances are declared an Emergency requiring Congress to immediately act to protect and preserve the health, safety and welfare of the citizens of the United States; and to so do, requires the re-structure Federal agencies and the regulation of banks, financial and credit institutions, and related markets; accordingly, any and all laws that are inconsistent with the purpose and/or provisions of the Act, including but not limited to Public Law 110-343 and P.L. 106-554 are, by this declaration, hereby expressly revoked, terminated, amended and/or modified, as may be required, so as not to be contrary to and/or inconsistent herewith.
2.1 - EFFECTIVE DATE: This Act shall be and immediately become law, in effect, on the day and date of the signature of the President, or any veto over- ride by Congress.
2.1. 01 -Expenditure Pre-Approval Required : The payment, expenditure and
/or disbursement of any funds, credits, monies, sums and/or amounts by the Secretary of the Treasury as authorized by Public Law 110-343 are hereby expressly terminated, and any further or future payments, expenditures and/or disbursements of U.S. Treasury funds, credits, monies, sums or amounts per Public Law 110-343 shall, on a case by case draw basis, require the prior written approval of any expenditure in excess of twenty-five million dollars, from a Special Joint Senate-House sub-committee composed of four (4) members ( 2 Democrats/2 Republicans). The Secretary of Treasury shall, on a case by case specific dollar amount request basis , present to said Special Joint Senate-House sub- committee details, terms and conditions, specific uses and purposes for the loan of Treasury funds to specific identified corporations and/or entities, together with a GAO assessment as to likely hood of repayment by the debtor entity or entities.
FURTHER, no draw against Treasury /Taxpayer funds duly appropriated by Congress, shall be authorized without the case-by-case pre-approval by said Special Joint Senate-House sub-committee as provided herein. This pre- approval provision shall not apply to States and/or public entitles with regard to appropriations for Public infrastructure projects.
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3.1 - Existing APR and Sub-Prime Mortgages: It shall be unlawful for any bank, company, entity or person, for a period of 3 years from the date of this Act, to charge or collect any interest on such indebtedness that exceeds the original rate charged to the U.S. citizen home borrower; further, after three years, the maximum adjusted interest that may be lawfully charged on such home, provided the original U.S. citizen debtor actually uses and occupies the home as his or her sole residence, shall be limited to 6% simple interest, and the overall term of the loan shall be limited to 20 years; the full amount of which home loan shall become due and payable on the sale, transfer, rental, lease, or vacating of the home as the sole and only residence of the original U.S. citizen debtor.
3.1.01 - Freddie Mac and Fannie Mae: Mortgages, Deeds of Trust or other security instruments held by, or for the benefit of Freddie Mac and Fannie May, on individual homes used and occupied as the sole and only residence of U.S. citizens within the United States, when in default, but before foreclosure, abandonment or surrender by the citizen debtor occupant, shall be entitled to consideration for enrollment in a "Rent to Own" re-negotiation of the original debt incurred for the purchase of said Home.
(a) - Basic Structure of Rent to Own: Rent to Own is an option for qualified
U.S. citizens who are in default and faced with foreclosure ( requiring them and family to move out of their only home and residence) of properties in which Freddie Mac and/or Fannie Mae have an interest. Prior to foreclosure
Freddie Mac and/or Fannie Mae shall review the financial positions of U.S. citizen debtors in default to determine a realistic monthly payment, to be denominated "rent", considering the current market rate for comparable
rental properties and the citizen debtors ability to pay; in the event appropriate terms that will allow the citizen debtor and family to remain in the subject home ( which shall be occupied as the citizens debtors only residence ) can be achieved, then the subject citizen debtor shall execute a Warranty, Grant Deed other Deed fully re-conveying title to the home residence to Freddie Mac and/or Fannie Mae, and Freddie or Fannie then shall extend to the citizen a three (3) year Rental Agreement with option to re-purchase said home, at a price equal to the outstanding balance of the original loan on said residence.
3.2 - Federal Usury : It is hereby unlawful for any institution, bank, credit card company or affiliates, person or entity to charge more then 12% simple interest for any consumer loan or extension of consumer credit to any person in the U.S., and/or to impose fees that exceed the 12% limitation. and any amounts that exceed such limitation shall be void. Violations of this sub-section are defined as "racketeering" subjecting any violator to the penalties and provisions set-forth in 18 U.S.C. & Pub.Lw.98-473, together with any civil penalties and/or causes of action that may be applicable under the state laws where the debtor resides.
3.3 - Stock & Commodities Markets: It shall be unlawful to trade, barter, sell, pledge or hypothecate stock or stock certificates in or within the United States, or in any company, corporation, entity, or person doing business in or with the United States, that are held for a period of less than 13 months; FURTHER, it shall be unlawful for any company, corporation, entity, or person doing business in or with the United States that is not the end user to trade, barter, sell, assign, or pledge commodities or contracts.
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3.3.1- Violations: The RICO ACT, 18 U.S.C. #1951-1968 is amended to include Section 3.1, 3.2, & 3.3 hereof as a definition of racketeering subjecting any violator, to the penalties provisions of 18 U.S.C. and/or all property and assets, obtained or suspected to be obtained by or related to any violation of section 3.1, 3.2 AND 3.3 of this act shall be fully subject to the Civil Forfeiture Provisions of the Comprehensive Crime Control Act of 1982, Pub.L. 98-473, as amended. Further, the standard of proof shall be based on the preponderance of evidence and court decisions, laws or provisions to the contrary are hereby declared null and void and of no force effect whatsoever.
4.0 - EXTENSION OF MONEY AND/OR CREDIT OF THE UNITED STATES OR U.S. TREASURY: NO MONEY,CREDIT OR GUARANTEE OF THE UNITED STATES OR U.S. TREASURY SHALL BE EXTENDED TO ANY PRIVATE BANK, FINANCIAL INSTITUTION, COMPANY, ENTITY OR PERSON EXCEPT AS FOLLOWS:
4.1- Security Required: No loan, extension of credit, or guarantee of the United States shall be extended to any bank, financial institution, company, entity or person except on the basis of a dollar-for-dollar security for the same in the form tangible personal or real property located within the United States having a real mark to market value, minus 15%, equal to the base amount of the loan, credit or guarantee extended by the U.S. Treasury. The cost of any such loan, credit or guarantee of the United States, shall include the full costs of administration of any such loan, credit extension or guarantee.
4.1.01 - Other Terms of Loan, Extension of Credit or Guarantee: The maximum period of any loan, credit or guarantee of the United States shall be limited to an cumulative total of no more then five (5 ) calendar years. Any and all banks, financial institutions, companies, entities or persons qualifying for and extended any loan, credit or guarantee of the United States, shall file tax annual tax returns and render accounting on calendar year ( January 1 to December 31 ) basis. Accrual accounting or reporting shall be unlawful and is hereby defined as " racketeering " subject to the provisions and penalties and civil forfeiture as provided by 18 U.S.C. #1951-1968 & Pub.Lw. 98-473;
further, any and all loans, extensions of credit and/or guarantees of the United States extended to any qualified bank, financial institution, company, entity or person, shall bear interest at not less then 1.5% above the Federal Reserve bank rate, and such interest shall be paid to the U.S. Treasury on a monthly basis during the period of the loan, extension of credit or guarantee Any default on the monthly payment of interest to the US. Treasury, or default on the repayment of the principle shall result in the automatic forfeiture, by confession of judgment, off all security for the loan, extension of credit or guarantee.
a) Compensation Limitations: During the period of any loan, extension of credit or guarantee of the U.S., every Board of Directors member of any borrower shall serve without pay, compensation or per diem, and the highest executive salary paid shall not exceed the U.S. Government Service, GS 15 amount. Violation of this sub-section is hereby declared and defined as " racketeering " subject to the provisions and penalties and civil forfeiture as provided by 18 U.S.C. #1951-1968 & P.L. 98-473.
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4.1.02 - Qualified Security: Qualified security for any loan, credit extension or guarantee of the United States extended to any bank, financial institution, company, entity or person, shall be all tangible, physical assets, personal and/or real property located or situated in the United States in which any CEO, CFO, President, Executive Vice President, and any Board of Directors member serving any bank, financial institution, company, entity or person seeking a loan, money, credit or guarantee from the United States, between the years 2002- 2008, has any interest in; AND/OR, the stock, warrants, options, bonds, real and personal property of said banks, financial institutions, companies, entities and/or persons. When socks and/or warrants are pledged and encumbered as a qualified security, the Treasury Department shall prepare and hold properly executed subordinated convertible debentures for controlling voting and ownership rights to and in said stock, warrants, options of such entities extended money, credit or guarantees of the United States.
5.0 - Federal Deposit Insurance Corporation [F.D.I.C. ] Coverage Increases: Existing laws, rules and/or regulations providing qualified banks and institutions with F.D.I.C. insurance coverage are hereby amended, by this reference, and coverage is increased to $250,000.00 per individual, per account, per bank or institution, and increased to $500,000.00 on retirement , IRA and/or Roth accounts.
The Secretary of Treasury and head of the F.D.I.C. are hereby directed to immediately extend coverage to all qualified institutions for individual and personal account coverage in and to the foregoing limits, and modify rules and regulations as necessary to provided for the same, and the premiums paid to the F.D.I.C. by qualified institutions for F.D.I.C. accounts shall accordingly be raised. Further, the Secretary of Treasury and the F.D.I.C. are hereby directed to modify, amend or enact such other rules and regulations as may necessary to implement account coverage increases consistent with this Act.
6.0 - Unemployment Compensation Extension - 12 months : Existing laws, rules and /or regulations providing of unemployment compensation, by this reference, are hereby modified to extend existing compensation to qualified U.S. citizens for an additional twelve ( 12 ) twelve consecutive months; and to extend equal compensation to U.S. citizens who become unemployed subsequent to the passage of this act, and who are otherwise qualified to receive unemployment compensation.
6.1 - U.S. Citizens receiving unemployment compensation shall also be eligible to receive food stamps and Medicare concurrent with their receipt of unemployment compensation
7.0 - Infrastructure Renewal & Improvement: Within 30 days after this act becomes law, States may submit specific proposals, including a list of contractors, construction
Page 4 of 6//// DRAFT/ RECOVERY & MODERNIZATION
blueprints, and costs for repairs and/or improvements to the Federal Interstate Highway system within said State. Priority shall be given to Federal Interstate Highway project within the limits of appropriations provided in this act for infrastructure renewal. All submittals under this section shall be made to the Secretary of Treasury.
7.1 - Other Public Works Projects: within 180 days after this act becomes law, and subject to the availability of unused appropriations, Cities, Towns and other public entities may submit specific proposals, including a list of contractors, construction blueprints, and costs for repairs and/or improvements to public works within said City, Town or public entity.
7.2 - Public Safety - within 30 days after this act becomes law States, Cities, Towns and other public agencies, subject to the availability of unused appropriations, may submit specific proposals including costs and numbers of police, firefighters and emergency responders that will be provided.
8.0 - Alternative Energy: It is hereby mandated that the U.S. shall become energy
independent by 2019. Energy independence means, for the purposes of this act,
that the U.S. shall import from foreign sources, no more then 15% of its energy, and/or fuels needs. In order to achieve energy independence Congress directs and authorizes
the Secretary of Treasury to receive proposals for U.S. engineered, designed and built projects, facilities and products to attain energy independence; further, the Secretary of Treasury is directed to modify and amend the Tax Code, rules and regulations
to provided for, among others that may be appropriate, to following tax credits.
8.1 - Dollar-for- Dollars federal tax credits shall be provided to each individual
and business for costs of the conversion of gasoline and diesel powered vehicles to compressed natural gas ( CNG ), hydrogen, electric power and for the instillation of machinery and equipment to provide natural gas ( CNG ), hydrogen, electric power for vehicles along the Federal Interstate Highway system, and public highways and roadways within the United States.
8.2 - Public Utilities : Regulated Public Utilities within the U.S. shall be given a 75% federal tax credit for the construction, retro-fitting, and or conversion of electric power generation facilities to solar, wind, clean coal; and the same 75% federal tax credits shall be available to any U.S. business and/or U.S. citizen that coverts to existing facilities, including but not limited to residential, farm, businesses, to use solar, wind, or alternative bio-mass fuel, for power.
9.0 - Citizen Tax Relief : U.S. citizens residing within the United States shall be immediately entitled to the following tax relief for the tax years 2008, 2009, 2010,2011, 2012:
9.1 - The Alternative Minimum Tax and rules and regulations related thereto
are hereby abolished. Further, individuals who's gross adjusted income exceeds $250,000.00 per year shall pay 20% tax on all income exceeding $250,000.00;
9.2 - Losses: Individuals and businesses commencing with tax year 2008, shall be entitled to write off up to $250,000.00 per year for losses, against income, and carry unused losses forward to tax years 2009-2012;
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9.3 - Education Tax Credits: Individual U.S. Citizens shall be entitled to take year 2008-2012 a $2000.00 per year per individual or dependent, tax credit against income for tuition paid to a U.S. accredited school, technical institution, college or university, this credit shall apply to primary, K-12, accredited schools, as well as accredited extended learning institutions.
10.0 - APPROPRIATIONS: The following appropriations of treasury funds are hereby authorized and approved to fund the provisions of this act as hereby provided.
10.1 - General Appropriation of $_____________________ as a drawing
account for the express purposes provided for in this act.
10.1.01 - Limitations:
(a) Lending to private institutions, including U.S. banks, financial services,
and corporations maximum consolidated limited to $______________;
(b) Unemployment Compensation & Medicare Coverage for unemployed
$______________;
(c) Infrastructure Renewal and Improvement................$______________;
(d) Alternative Energy ..................................................$______________;
11.0 - CONFLICTS OF INTEREST : It is hereby enacted and declared unlawful for any individual and/or person who is an official of or employed by the U.S. Government and/or any agency or sub-division, or agency sub-contractor, to have any financial or other interest, direct or indirect, of any kind and or nature whatsoever, in any company, corporation, financial institution, or entity that is granted a loan, extension of credit or guarantee of or from the U.S. Treasury, or Government.
11.1 - Violations: Violations of this section 11.0, of this Act are defined as "racketeering" subjecting any violator to the penalties and provisions set-forth at 18 U.S.C. #1957-1969 and Pub.Lw. 98-473.
12.0 - ENFORCEMENT/CONCURRENT JURISDICTION: All State Courts of General Jurisdiction as well as U.S. District Courts, shall have concurrent jurisdiction relating to the enforcement of any provision of this Act; any violation or alleged violation of this act shall be prosecuted within the United States. State Courts shall have no authority to review the validity of any part, provision or portion of this Act. The authority of Federal District and Appellate Courts to review the validity of this Act or any part, provision or portion of this Act is hereby expressly revoked pursuant to the Powers of Congress, provided by Article 1, Section 8, sub-section 9, of the U.S. Constitution.
13.0 - SAVINGS CLAUSE: The provisions of this Act are separate and severable; should any part or provision of this Act be adjudicated unconstitutional by the full 9 judge panel of the U.S. Supreme Court, then the rest and remainder shall remain in full force and effect.
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1.0- PREAMBLE: The Constitution of the United State of America provides that citizens and voters of the United States shall govern and rule by an through duly elected representatives. Article I, Section 8, Subsections 1- 6, and subsection 18, vest Congress with the power and duty to control the money, credit and commerce of the United States, this power was intentionally with-held from the Executive Branch and President of the United States.
2.0- PURPOSE - Emergency: Congress and the citizenry of the United States have been confronted with an unprecedented financial crisis, affecting the value of the dollar, the stability of domestic and world markets, and adversely impacting the public, health, safety and welfare of the United States and its citizenry. These circumstances are declared an Emergency requiring Congress to immediately act to protect and preserve the health, safety and welfare of the citizens of the United States; and to so do, requires the re-structure Federal agencies and the regulation of banks, financial and credit institutions, and related markets; accordingly, any and all laws that are inconsistent with the purpose and/or provisions of the Act, including but not limited to Public Law 110-343 and P.L. 106-554 are, by this declaration, hereby expressly revoked, terminated, amended and/or modified, as may be required, so as not to be contrary to and/or inconsistent herewith.
2.1 - EFFECTIVE DATE: This Act shall be and immediately become law, in effect, on the day and date of the signature of the President, or any veto over- ride by Congress.
2.1. 01 -Expenditure Pre-Approval Required : The payment, expenditure and
/or disbursement of any funds, credits, monies, sums and/or amounts by the Secretary of the Treasury as authorized by Public Law 110-343 are hereby expressly terminated, and any further or future payments, expenditures and/or disbursements of U.S. Treasury funds, credits, monies, sums or amounts per Public Law 110-343 shall, on a case by case draw basis, require the prior written approval of any expenditure in excess of twenty-five million dollars, from a Special Joint Senate-House sub-committee composed of four (4) members ( 2 Democrats/2 Republicans). The Secretary of Treasury shall, on a case by case specific dollar amount request basis , present to said Special Joint Senate-House sub- committee details, terms and conditions, specific uses and purposes for the loan of Treasury funds to specific identified corporations and/or entities, together with a GAO assessment as to likely hood of repayment by the debtor entity or entities.
FURTHER, no draw against Treasury /Taxpayer funds duly appropriated by Congress, shall be authorized without the case-by-case pre-approval by said Special Joint Senate-House sub-committee as provided herein. This pre- approval provision shall not apply to States and/or public entitles with regard to appropriations for Public infrastructure projects.
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3.1 - Existing APR and Sub-Prime Mortgages: It shall be unlawful for any bank, company, entity or person, for a period of 3 years from the date of this Act, to charge or collect any interest on such indebtedness that exceeds the original rate charged to the U.S. citizen home borrower; further, after three years, the maximum adjusted interest that may be lawfully charged on such home, provided the original U.S. citizen debtor actually uses and occupies the home as his or her sole residence, shall be limited to 6% simple interest, and the overall term of the loan shall be limited to 20 years; the full amount of which home loan shall become due and payable on the sale, transfer, rental, lease, or vacating of the home as the sole and only residence of the original U.S. citizen debtor.
3.1.01 - Freddie Mac and Fannie Mae: Mortgages, Deeds of Trust or other security instruments held by, or for the benefit of Freddie Mac and Fannie May, on individual homes used and occupied as the sole and only residence of U.S. citizens within the United States, when in default, but before foreclosure, abandonment or surrender by the citizen debtor occupant, shall be entitled to consideration for enrollment in a "Rent to Own" re-negotiation of the original debt incurred for the purchase of said Home.
(a) - Basic Structure of Rent to Own: Rent to Own is an option for qualified
U.S. citizens who are in default and faced with foreclosure ( requiring them and family to move out of their only home and residence) of properties in which Freddie Mac and/or Fannie Mae have an interest. Prior to foreclosure
Freddie Mac and/or Fannie Mae shall review the financial positions of U.S. citizen debtors in default to determine a realistic monthly payment, to be denominated "rent", considering the current market rate for comparable
rental properties and the citizen debtors ability to pay; in the event appropriate terms that will allow the citizen debtor and family to remain in the subject home ( which shall be occupied as the citizens debtors only residence ) can be achieved, then the subject citizen debtor shall execute a Warranty, Grant Deed other Deed fully re-conveying title to the home residence to Freddie Mac and/or Fannie Mae, and Freddie or Fannie then shall extend to the citizen a three (3) year Rental Agreement with option to re-purchase said home, at a price equal to the outstanding balance of the original loan on said residence.
3.2 - Federal Usury : It is hereby unlawful for any institution, bank, credit card company or affiliates, person or entity to charge more then 12% simple interest for any consumer loan or extension of consumer credit to any person in the U.S., and/or to impose fees that exceed the 12% limitation. and any amounts that exceed such limitation shall be void. Violations of this sub-section are defined as "racketeering" subjecting any violator to the penalties and provisions set-forth in 18 U.S.C. & Pub.Lw.98-473, together with any civil penalties and/or causes of action that may be applicable under the state laws where the debtor resides.
3.3 - Stock & Commodities Markets: It shall be unlawful to trade, barter, sell, pledge or hypothecate stock or stock certificates in or within the United States, or in any company, corporation, entity, or person doing business in or with the United States, that are held for a period of less than 13 months; FURTHER, it shall be unlawful for any company, corporation, entity, or person doing business in or with the United States that is not the end user to trade, barter, sell, assign, or pledge commodities or contracts.
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3.3.1- Violations: The RICO ACT, 18 U.S.C. #1951-1968 is amended to include Section 3.1, 3.2, & 3.3 hereof as a definition of racketeering subjecting any violator, to the penalties provisions of 18 U.S.C. and/or all property and assets, obtained or suspected to be obtained by or related to any violation of section 3.1, 3.2 AND 3.3 of this act shall be fully subject to the Civil Forfeiture Provisions of the Comprehensive Crime Control Act of 1982, Pub.L. 98-473, as amended. Further, the standard of proof shall be based on the preponderance of evidence and court decisions, laws or provisions to the contrary are hereby declared null and void and of no force effect whatsoever.
4.0 - EXTENSION OF MONEY AND/OR CREDIT OF THE UNITED STATES OR U.S. TREASURY: NO MONEY,CREDIT OR GUARANTEE OF THE UNITED STATES OR U.S. TREASURY SHALL BE EXTENDED TO ANY PRIVATE BANK, FINANCIAL INSTITUTION, COMPANY, ENTITY OR PERSON EXCEPT AS FOLLOWS:
4.1- Security Required: No loan, extension of credit, or guarantee of the United States shall be extended to any bank, financial institution, company, entity or person except on the basis of a dollar-for-dollar security for the same in the form tangible personal or real property located within the United States having a real mark to market value, minus 15%, equal to the base amount of the loan, credit or guarantee extended by the U.S. Treasury. The cost of any such loan, credit or guarantee of the United States, shall include the full costs of administration of any such loan, credit extension or guarantee.
4.1.01 - Other Terms of Loan, Extension of Credit or Guarantee: The maximum period of any loan, credit or guarantee of the United States shall be limited to an cumulative total of no more then five (5 ) calendar years. Any and all banks, financial institutions, companies, entities or persons qualifying for and extended any loan, credit or guarantee of the United States, shall file tax annual tax returns and render accounting on calendar year ( January 1 to December 31 ) basis. Accrual accounting or reporting shall be unlawful and is hereby defined as " racketeering " subject to the provisions and penalties and civil forfeiture as provided by 18 U.S.C. #1951-1968 & Pub.Lw. 98-473;
further, any and all loans, extensions of credit and/or guarantees of the United States extended to any qualified bank, financial institution, company, entity or person, shall bear interest at not less then 1.5% above the Federal Reserve bank rate, and such interest shall be paid to the U.S. Treasury on a monthly basis during the period of the loan, extension of credit or guarantee Any default on the monthly payment of interest to the US. Treasury, or default on the repayment of the principle shall result in the automatic forfeiture, by confession of judgment, off all security for the loan, extension of credit or guarantee.
a) Compensation Limitations: During the period of any loan, extension of credit or guarantee of the U.S., every Board of Directors member of any borrower shall serve without pay, compensation or per diem, and the highest executive salary paid shall not exceed the U.S. Government Service, GS 15 amount. Violation of this sub-section is hereby declared and defined as " racketeering " subject to the provisions and penalties and civil forfeiture as provided by 18 U.S.C. #1951-1968 & P.L. 98-473.
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4.1.02 - Qualified Security: Qualified security for any loan, credit extension or guarantee of the United States extended to any bank, financial institution, company, entity or person, shall be all tangible, physical assets, personal and/or real property located or situated in the United States in which any CEO, CFO, President, Executive Vice President, and any Board of Directors member serving any bank, financial institution, company, entity or person seeking a loan, money, credit or guarantee from the United States, between the years 2002- 2008, has any interest in; AND/OR, the stock, warrants, options, bonds, real and personal property of said banks, financial institutions, companies, entities and/or persons. When socks and/or warrants are pledged and encumbered as a qualified security, the Treasury Department shall prepare and hold properly executed subordinated convertible debentures for controlling voting and ownership rights to and in said stock, warrants, options of such entities extended money, credit or guarantees of the United States.
5.0 - Federal Deposit Insurance Corporation [F.D.I.C. ] Coverage Increases: Existing laws, rules and/or regulations providing qualified banks and institutions with F.D.I.C. insurance coverage are hereby amended, by this reference, and coverage is increased to $250,000.00 per individual, per account, per bank or institution, and increased to $500,000.00 on retirement , IRA and/or Roth accounts.
The Secretary of Treasury and head of the F.D.I.C. are hereby directed to immediately extend coverage to all qualified institutions for individual and personal account coverage in and to the foregoing limits, and modify rules and regulations as necessary to provided for the same, and the premiums paid to the F.D.I.C. by qualified institutions for F.D.I.C. accounts shall accordingly be raised. Further, the Secretary of Treasury and the F.D.I.C. are hereby directed to modify, amend or enact such other rules and regulations as may necessary to implement account coverage increases consistent with this Act.
6.0 - Unemployment Compensation Extension - 12 months : Existing laws, rules and /or regulations providing of unemployment compensation, by this reference, are hereby modified to extend existing compensation to qualified U.S. citizens for an additional twelve ( 12 ) twelve consecutive months; and to extend equal compensation to U.S. citizens who become unemployed subsequent to the passage of this act, and who are otherwise qualified to receive unemployment compensation.
6.1 - U.S. Citizens receiving unemployment compensation shall also be eligible to receive food stamps and Medicare concurrent with their receipt of unemployment compensation
7.0 - Infrastructure Renewal & Improvement: Within 30 days after this act becomes law, States may submit specific proposals, including a list of contractors, construction
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blueprints, and costs for repairs and/or improvements to the Federal Interstate Highway system within said State. Priority shall be given to Federal Interstate Highway project within the limits of appropriations provided in this act for infrastructure renewal. All submittals under this section shall be made to the Secretary of Treasury.
7.1 - Other Public Works Projects: within 180 days after this act becomes law, and subject to the availability of unused appropriations, Cities, Towns and other public entities may submit specific proposals, including a list of contractors, construction blueprints, and costs for repairs and/or improvements to public works within said City, Town or public entity.
7.2 - Public Safety - within 30 days after this act becomes law States, Cities, Towns and other public agencies, subject to the availability of unused appropriations, may submit specific proposals including costs and numbers of police, firefighters and emergency responders that will be provided.
8.0 - Alternative Energy: It is hereby mandated that the U.S. shall become energy
independent by 2019. Energy independence means, for the purposes of this act,
that the U.S. shall import from foreign sources, no more then 15% of its energy, and/or fuels needs. In order to achieve energy independence Congress directs and authorizes
the Secretary of Treasury to receive proposals for U.S. engineered, designed and built projects, facilities and products to attain energy independence; further, the Secretary of Treasury is directed to modify and amend the Tax Code, rules and regulations
to provided for, among others that may be appropriate, to following tax credits.
8.1 - Dollar-for- Dollars federal tax credits shall be provided to each individual
and business for costs of the conversion of gasoline and diesel powered vehicles to compressed natural gas ( CNG ), hydrogen, electric power and for the instillation of machinery and equipment to provide natural gas ( CNG ), hydrogen, electric power for vehicles along the Federal Interstate Highway system, and public highways and roadways within the United States.
8.2 - Public Utilities : Regulated Public Utilities within the U.S. shall be given a 75% federal tax credit for the construction, retro-fitting, and or conversion of electric power generation facilities to solar, wind, clean coal; and the same 75% federal tax credits shall be available to any U.S. business and/or U.S. citizen that coverts to existing facilities, including but not limited to residential, farm, businesses, to use solar, wind, or alternative bio-mass fuel, for power.
9.0 - Citizen Tax Relief : U.S. citizens residing within the United States shall be immediately entitled to the following tax relief for the tax years 2008, 2009, 2010,2011, 2012:
9.1 - The Alternative Minimum Tax and rules and regulations related thereto
are hereby abolished. Further, individuals who's gross adjusted income exceeds $250,000.00 per year shall pay 20% tax on all income exceeding $250,000.00;
9.2 - Losses: Individuals and businesses commencing with tax year 2008, shall be entitled to write off up to $250,000.00 per year for losses, against income, and carry unused losses forward to tax years 2009-2012;
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9.3 - Education Tax Credits: Individual U.S. Citizens shall be entitled to take year 2008-2012 a $2000.00 per year per individual or dependent, tax credit against income for tuition paid to a U.S. accredited school, technical institution, college or university, this credit shall apply to primary, K-12, accredited schools, as well as accredited extended learning institutions.
10.0 - APPROPRIATIONS: The following appropriations of treasury funds are hereby authorized and approved to fund the provisions of this act as hereby provided.
10.1 - General Appropriation of $_____________________ as a drawing
account for the express purposes provided for in this act.
10.1.01 - Limitations:
(a) Lending to private institutions, including U.S. banks, financial services,
and corporations maximum consolidated limited to $______________;
(b) Unemployment Compensation & Medicare Coverage for unemployed
$______________;
(c) Infrastructure Renewal and Improvement................$______________;
(d) Alternative Energy ..................................................$______________;
11.0 - CONFLICTS OF INTEREST : It is hereby enacted and declared unlawful for any individual and/or person who is an official of or employed by the U.S. Government and/or any agency or sub-division, or agency sub-contractor, to have any financial or other interest, direct or indirect, of any kind and or nature whatsoever, in any company, corporation, financial institution, or entity that is granted a loan, extension of credit or guarantee of or from the U.S. Treasury, or Government.
11.1 - Violations: Violations of this section 11.0, of this Act are defined as "racketeering" subjecting any violator to the penalties and provisions set-forth at 18 U.S.C. #1957-1969 and Pub.Lw. 98-473.
12.0 - ENFORCEMENT/CONCURRENT JURISDICTION: All State Courts of General Jurisdiction as well as U.S. District Courts, shall have concurrent jurisdiction relating to the enforcement of any provision of this Act; any violation or alleged violation of this act shall be prosecuted within the United States. State Courts shall have no authority to review the validity of any part, provision or portion of this Act. The authority of Federal District and Appellate Courts to review the validity of this Act or any part, provision or portion of this Act is hereby expressly revoked pursuant to the Powers of Congress, provided by Article 1, Section 8, sub-section 9, of the U.S. Constitution.
13.0 - SAVINGS CLAUSE: The provisions of this Act are separate and severable; should any part or provision of this Act be adjudicated unconstitutional by the full 9 judge panel of the U.S. Supreme Court, then the rest and remainder shall remain in full force and effect.
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Thursday, January 29, 2009
The Sad Truth About Obama's " American Recovery and Reinvestment Plan"
Many in the U.S and around the world had high hopes that there would be a turn around in the way Washington did business when the Obama administration took over on January 20, 2009.
Unfortunately, Washington machine politics has deep roots that remain and transcend the Presidency. The Obama cabinet and the Obama stimulus package, titled " American Recovery and Reinvestment Plan " are two examples of entrenched Washington politics. The 650+ page bill rammed through the U.S. House Representatives is nothing more then the consolidation of eight years of programs that went nowhere under the Bush Administration. Washington is master of resurrecting old programs, attaching flashy labels, and peddling them to the public as something they are not.
One doubts whether President Obama has, himself, read the 650+ bill the House passed on party lines. Congress, now controlled by Democrats, is no more capable in "getting it right" then when the Bush Administration was at the helm. Both the 110th Congress and the current 111th Congress are throwing massive amounts of borrowed dollars, and HOPING something sticks, to bring the U.S. out of the economic meltdown we all face. Congress hopes to accomplish a turn around without making any structural or systemic modifications to a financial system that has failed. Without modifying the Federal Reserve system in place since 1913; without instituting specific restrictions and regulations on banking, financial services, business consolidations and entering into international compacts with G8 nations and central banks to stabilize currency fluctuations and interest rates, the Obama plan will accomplish little, except to spur inflation and increase the cost of consumer goods and services.
The U.S. burdened by arcane procedures, entrenched ideologies, and politics, have doomed main-street USA to hard, very hard times for the next 4+ years. The Obama/Democratic Washington steam shovel has started to dig the hole much deeper by cranking up the printing presses and doubling the already mega-strophic national debt; soon the U.S. dollar will be at par with third world currencies.
Unfortunately, Washington machine politics has deep roots that remain and transcend the Presidency. The Obama cabinet and the Obama stimulus package, titled " American Recovery and Reinvestment Plan " are two examples of entrenched Washington politics. The 650+ page bill rammed through the U.S. House Representatives is nothing more then the consolidation of eight years of programs that went nowhere under the Bush Administration. Washington is master of resurrecting old programs, attaching flashy labels, and peddling them to the public as something they are not.
One doubts whether President Obama has, himself, read the 650+ bill the House passed on party lines. Congress, now controlled by Democrats, is no more capable in "getting it right" then when the Bush Administration was at the helm. Both the 110th Congress and the current 111th Congress are throwing massive amounts of borrowed dollars, and HOPING something sticks, to bring the U.S. out of the economic meltdown we all face. Congress hopes to accomplish a turn around without making any structural or systemic modifications to a financial system that has failed. Without modifying the Federal Reserve system in place since 1913; without instituting specific restrictions and regulations on banking, financial services, business consolidations and entering into international compacts with G8 nations and central banks to stabilize currency fluctuations and interest rates, the Obama plan will accomplish little, except to spur inflation and increase the cost of consumer goods and services.
The U.S. burdened by arcane procedures, entrenched ideologies, and politics, have doomed main-street USA to hard, very hard times for the next 4+ years. The Obama/Democratic Washington steam shovel has started to dig the hole much deeper by cranking up the printing presses and doubling the already mega-strophic national debt; soon the U.S. dollar will be at par with third world currencies.
Sunday, January 25, 2009
CHINA SYNDROME
Corporate greed and undue Washington influence jump started the parade, shipping U.S. jobs and technology offshore. The Nixon administration opened the doors for corporations in China; following administrations, and Congress, long noted for it's myopia, passed NAFTA and other "Free Trade " agreements emasculating U.S. manufacturing and production capabilities, and U.S. employment. Now the nascent Obama administration, through Timmy Geithner the new Secretary of Treasury, is blaming U.S. economic woes on China's failure to re-value the yuan per U.S. "demands".
China and the value of the yuan are not the problem, U.S. corporate and financial interests influence on Congress, coupled with the inherent shortsightedness of our 535 federal legislators is where the root of the financial crisis rests. The Obama stimulus plan, illustrates that the U.S. government has no real clue how to fix the cascade into depression, 15% unemployment, and the hardships U.S. main-street is facing over the next 4 + years.
There is nothing to be gained by bad mouthing China. The U.S. made China, at first reluctant, a partner in the plunder of cheap labor to fatten the gluttony and greed of U.S. corporate titans. Now China is not just a partner for the production of goods, but the banker of the U.S.. Now is not the time to get on a high-horse and criticize China. From a political and structural standpoint, China is better suited to effectively respond to "crises " then the cumbersome system the U.S. has to wade through. The U.S. is poised to float the most massive debt in the modern world. Who is going to "buy" the debt of a country that produces arms, munitions, the instruments of war, and that invades others at will; but has little else to offer ? The only hope the U.S. has is that China, and other Asian nations will continue to buy U.S. debt obligations.
It would be much wiser, to work with our partner, China, and develop practical plans that would be beneficial to both countries, and forget currency valuations. Example, assign U.S. creditor interests in G.M. and Chrysler to China - when G.M and Chrysler, or Ford, ask for more bail-out funds, refer them to China. It would be in the mutual interests of both the U.S. and China, for China to produce parts for cars assembled in the U.S. for U.S and China markets. The U.S. can't take back all the jobs that Congress has allowed to be exported, but we can work with our partners abroad, to have a two-way, as opposed to a one-way, street.
The Obama administration has had one hell of a load of crap dumped upon it. It will take more then hope and a prayer to make any headway and start to dig out from under this pile. Now is not the time to start poking at China.
China and the value of the yuan are not the problem, U.S. corporate and financial interests influence on Congress, coupled with the inherent shortsightedness of our 535 federal legislators is where the root of the financial crisis rests. The Obama stimulus plan, illustrates that the U.S. government has no real clue how to fix the cascade into depression, 15% unemployment, and the hardships U.S. main-street is facing over the next 4 + years.
There is nothing to be gained by bad mouthing China. The U.S. made China, at first reluctant, a partner in the plunder of cheap labor to fatten the gluttony and greed of U.S. corporate titans. Now China is not just a partner for the production of goods, but the banker of the U.S.. Now is not the time to get on a high-horse and criticize China. From a political and structural standpoint, China is better suited to effectively respond to "crises " then the cumbersome system the U.S. has to wade through. The U.S. is poised to float the most massive debt in the modern world. Who is going to "buy" the debt of a country that produces arms, munitions, the instruments of war, and that invades others at will; but has little else to offer ? The only hope the U.S. has is that China, and other Asian nations will continue to buy U.S. debt obligations.
It would be much wiser, to work with our partner, China, and develop practical plans that would be beneficial to both countries, and forget currency valuations. Example, assign U.S. creditor interests in G.M. and Chrysler to China - when G.M and Chrysler, or Ford, ask for more bail-out funds, refer them to China. It would be in the mutual interests of both the U.S. and China, for China to produce parts for cars assembled in the U.S. for U.S and China markets. The U.S. can't take back all the jobs that Congress has allowed to be exported, but we can work with our partners abroad, to have a two-way, as opposed to a one-way, street.
The Obama administration has had one hell of a load of crap dumped upon it. It will take more then hope and a prayer to make any headway and start to dig out from under this pile. Now is not the time to start poking at China.
Saturday, January 10, 2009
Timed Tax Incentives NOT stimulus NEEDED
- HASTE MAKES WASTE -
* NO TO STIMULUS/ *** YES FOR TIMED TARGET TAX INCENTIVES
Opinion by Donald D. Holmes
Let's face reality, Congress has no clue in how to get the U.S. out of the financial melt-down and mess the U.S. is faced with. All eyes are on President elect Obama, in hopes that he and his new administration have" life boats" at the ready to rescue folks as the U.S. ship continues to sink.
Stimulus is a word that inspires hope, but hope and a prayer will not signal "turn around" any more then the Bush stimulus and $700 billion bail-out of Wall-Street/ AIG/ Banks, and now GM & Chrysler, have.
First, there has to be a re-structuring of the Federal Reserve and U.S banking system. Following a re-structuring that includes the elimination of the position of Chairman, credit-card interest and fee limitations [ 13% max; 12% interest and 1% total fees/late charges etc. included ] need to be imposed nationwide.
Next, Congress needs to terminate, rescind and revoke Public Law 110-343
( $700 billion Wall-Street Bail Out ), Public Law 106-554 ( Commodities Futures Modernization Act ), and to enact legislation designed to stabilize financial markets by prohibiting the sale or transfer of securities held for less then 13 consecutive calendar months.
The Home Foreclosure Crisis, can be mitigated by adopting a mandatory “Rent to Own” program whereby non-performing ( residential homes in default ) assets can be converted to income assets, i.e., title is transferred to the bank, Fannie, Freddie, and a lease/rental with option to purchase is executed by the homeowner.
Timed Target Tax Incentives, instead of a “Stimulus”, are needed to right the U.S. ship. Neither Congress nor the incoming Obama Administration have the capacity to effectively oversee the expenditure of $800 billion dollars of taxpayer/treasury funds. Look at the $700 billion [ Pub. Law 110-343 ] bail-out boondoggle. The Government cannot spend it’s way out-of-a recession or depression. What Congress and Administration can and should do is it make
specific changes to the IRS code, limited to 3 years [ 2009, 2010, 2011 ], that would allow individuals to write off their losses, and business to write off it’s losses against income. Further, provide dollar-for-dollar tax credits to individuals and businesses that modify houses, offices, plants and equipment ( vehicles ) to use alternative fuels ( e.g., CNG, solar etc. ). Such tax incentives need to be applied across the board to individuals as well as business. There
are and have been CNG conversions for both cars and trucks on the market for
many years. With tax credit incentive, individuals and businesses could convert
existing vehicles to CNG ( clean air vehicle fuel ), and service stations and homeowners could install the necessary compressors and equipment to re-fuel the converted vehicles.
In order to fill employment gaps created by the downturn, Congress can and should extend unemployment benefits for a full 52 weeks, 1 year. Regardless of what action is taken or not taken, there will be substantial employment displacement ( unemployment ) for the next few years. Both Congress and the Obama Administration need to man-up to this reality, and act to mitigate the consequences by extending unemployment benefits.
* NO TO STIMULUS/ *** YES FOR TIMED TARGET TAX INCENTIVES
Opinion by Donald D. Holmes
Let's face reality, Congress has no clue in how to get the U.S. out of the financial melt-down and mess the U.S. is faced with. All eyes are on President elect Obama, in hopes that he and his new administration have" life boats" at the ready to rescue folks as the U.S. ship continues to sink.
Stimulus is a word that inspires hope, but hope and a prayer will not signal "turn around" any more then the Bush stimulus and $700 billion bail-out of Wall-Street/ AIG/ Banks, and now GM & Chrysler, have.
First, there has to be a re-structuring of the Federal Reserve and U.S banking system. Following a re-structuring that includes the elimination of the position of Chairman, credit-card interest and fee limitations [ 13% max; 12% interest and 1% total fees/late charges etc. included ] need to be imposed nationwide.
Next, Congress needs to terminate, rescind and revoke Public Law 110-343
( $700 billion Wall-Street Bail Out ), Public Law 106-554 ( Commodities Futures Modernization Act ), and to enact legislation designed to stabilize financial markets by prohibiting the sale or transfer of securities held for less then 13 consecutive calendar months.
The Home Foreclosure Crisis, can be mitigated by adopting a mandatory “Rent to Own” program whereby non-performing ( residential homes in default ) assets can be converted to income assets, i.e., title is transferred to the bank, Fannie, Freddie, and a lease/rental with option to purchase is executed by the homeowner.
Timed Target Tax Incentives, instead of a “Stimulus”, are needed to right the U.S. ship. Neither Congress nor the incoming Obama Administration have the capacity to effectively oversee the expenditure of $800 billion dollars of taxpayer/treasury funds. Look at the $700 billion [ Pub. Law 110-343 ] bail-out boondoggle. The Government cannot spend it’s way out-of-a recession or depression. What Congress and Administration can and should do is it make
specific changes to the IRS code, limited to 3 years [ 2009, 2010, 2011 ], that would allow individuals to write off their losses, and business to write off it’s losses against income. Further, provide dollar-for-dollar tax credits to individuals and businesses that modify houses, offices, plants and equipment ( vehicles ) to use alternative fuels ( e.g., CNG, solar etc. ). Such tax incentives need to be applied across the board to individuals as well as business. There
are and have been CNG conversions for both cars and trucks on the market for
many years. With tax credit incentive, individuals and businesses could convert
existing vehicles to CNG ( clean air vehicle fuel ), and service stations and homeowners could install the necessary compressors and equipment to re-fuel the converted vehicles.
In order to fill employment gaps created by the downturn, Congress can and should extend unemployment benefits for a full 52 weeks, 1 year. Regardless of what action is taken or not taken, there will be substantial employment displacement ( unemployment ) for the next few years. Both Congress and the Obama Administration need to man-up to this reality, and act to mitigate the consequences by extending unemployment benefits.
Monday, January 5, 2009
WILL U.S. FALL APART IN 2010 ?
Recently the Wall Street Journal ran a piece about Russian Professor Ignor Panarin's 1998 prediction that the U.S. would virtually disintegrate in 2010. One's initial reaction is to laugh, but, on second thought, it may be informative to hypothesize a bit before dismissing Prof. Panarin's premise entirely.
There is no need to detail the fact that the U.S. is facing the most severe financial crisis in it's history; a crisis that has had a global impact and implications. So what about 2010 or 2012 ? It may well be that the U.S. Dollar, by 2010, will no longer be the world standard for finance.There has been movement to shift oil pricing from the U.S. Dollar to the Euro. Oil and Natural Gas for many years into the future will be the base resource for industrial growth and survival. Electricity production, and heat for habitation will be dependent on these two primary natural resources. Just by shifting the pricing of oil to Euros, the U.S. dollar would be devalued by
33%.
What does this mean for the U.S. lets look at some current facts, an forget about Wall-Street. Virtually every continental ( exclude Alaska and Hawaii ) State ( 48 ) in the U.S. is in the RED. The shortfall in California is estimated to be in the neighborhood of $43-45 billion. Washington has no funds to cover State deficits, so who an how are the municipal and other State bonds
( outstanding debts ) going to be paid ? So much for the borrowing capability of States. The global market of municipal, State and U.S. Federal debt just got more expensive. As an investor, how much of a change is one willing to take for a 6%, 8%, 10%, 12% possible non-return ? If the municipalities, State and Fed's can't squeeze it out of citizen taxpayers, where is the money to pay the interest on the debts going to come from ?
Compounding matters for States in particular, is the burgeoning expense of providing basic services. Citizenship is not a requirement for welfare, medical care, education etc. So as states cut other services, police, fire protection, road maintenance etc., the costs of welfare sector services will continue to rise ( as unemployment increases, the demand for welfare sector services will also increase ). In short, most local and State governments are bankrupt. Does State bankruptcy result in the break-up of the United States ? Who knows, perhaps Professor Panarin's views on the future U.S. are not so far fetched.
There is no need to detail the fact that the U.S. is facing the most severe financial crisis in it's history; a crisis that has had a global impact and implications. So what about 2010 or 2012 ? It may well be that the U.S. Dollar, by 2010, will no longer be the world standard for finance.There has been movement to shift oil pricing from the U.S. Dollar to the Euro. Oil and Natural Gas for many years into the future will be the base resource for industrial growth and survival. Electricity production, and heat for habitation will be dependent on these two primary natural resources. Just by shifting the pricing of oil to Euros, the U.S. dollar would be devalued by
33%.
What does this mean for the U.S. lets look at some current facts, an forget about Wall-Street. Virtually every continental ( exclude Alaska and Hawaii ) State ( 48 ) in the U.S. is in the RED. The shortfall in California is estimated to be in the neighborhood of $43-45 billion. Washington has no funds to cover State deficits, so who an how are the municipal and other State bonds
( outstanding debts ) going to be paid ? So much for the borrowing capability of States. The global market of municipal, State and U.S. Federal debt just got more expensive. As an investor, how much of a change is one willing to take for a 6%, 8%, 10%, 12% possible non-return ? If the municipalities, State and Fed's can't squeeze it out of citizen taxpayers, where is the money to pay the interest on the debts going to come from ?
Compounding matters for States in particular, is the burgeoning expense of providing basic services. Citizenship is not a requirement for welfare, medical care, education etc. So as states cut other services, police, fire protection, road maintenance etc., the costs of welfare sector services will continue to rise ( as unemployment increases, the demand for welfare sector services will also increase ). In short, most local and State governments are bankrupt. Does State bankruptcy result in the break-up of the United States ? Who knows, perhaps Professor Panarin's views on the future U.S. are not so far fetched.
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