Archive for March, 2009

Amity Shlaes–The Forgotten Man–Videos

Posted on March 31, 2009. Filed under: Blogroll, Books, Communications, Economics, Employment, Energy, Foreign Policy, Homes, Investments, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Reviews, Security, Taxes, Technology, Video, War | Tags: , , , , , , |

Uncommon Knowledge: The Great Depression with Amity Shlaes

Amity Shlaes author of “The Forgotten Man” on The Alcove 

Amity Shlaes speaks at ALEC. Part 1

Amity Shlaes speaks at ALEC. Part 2

Amity Shlaes speaks at ALEC. Part 3

Book TV: After Words with Amity Shlaes

http://www.youtube.com/watch?v=p4F3lR3vkd0&feature=related

 

The Great Depression then 1929, & now 2008/09. PART 1:

The Great Depression then 1929, & now 2008/09. PART 2:

The Great Depression then 1929, & now 2008/09. PART 3:

The Great Depression then 1929, & now 2008/09. PART 4:

The Great Depression then 1929, & now 2008/09. PART 5:

The Great Depression then 1929, & now 2008/09. PART 6:

The Great Depression then 1929, & now 2008/09. PART 7:

The Great Depression then 1929, & now 2008/09. PART 8:

The Great Depression then 1929, & now 2008/09. PART 9:

The Great Depression then 1929, & now 2008/09. PART 10:

The Great Depression then 1929, & now 2008/09. PART 11:

The Great Depression then 1929, & now 2008/09. PART 12:

Background Articles and Videos

Amity Shlaes

“…Amity Shlaes (born 1960) is an American author and columnist from New York, who writes about politics and economics.

“…Shlaes graduated from Jonathan Edwards College, Yale University magna cum laude[1] with a bachelor’s degree in English in 1982.[2]

Shlaes writes a syndicated column for Bloomberg News.[3] She is a senior fellow in economic history at the Council on Foreign Relations. Her many appearances on television and radio include commentary on public radio for Marketplace.

She wrote columns for the Financial Times for five years, for which she won the International Policy Network’s Bastiat Prize for Journalism in 2002.[1] Earlier, she worked at the Wall Street Journal, where she was a member of the editorial board. She has written for The New Yorker, The American Spectator, Commentary Magazine, Foreign Affairs, National Review, and The New Republic, among others. Her obituary of Milton Friedman appeared[2] in The New York Sun.

She was awarded the 2007 Deadline Club award for Opinion writing.[3], and the Newswomen’s Club of New York’s Front Page Award for her Bloomberg columns.[4]

Her first book was Germany: The Empire Within (ISBN 0-224-02700-X), about Germany at the time of reunification. She followed it with The Greedy Hand: How Taxes Drive Americans Crazy and What to Do About It (ISBN 0-375-50132-0). Her most recent national best-seller is The Forgotten Man: A New History of The Great Depression (ISBN 0-0609-3642-8) devoted to the study of the Great Depression in the United States and the New Deal. This book advances a thesis that both Presidents Herbert Hoover and Franklin Delano Roosevelt promoted economic policies that were counterproductive and prolonged The Great Depression, in part because of the uncertainty created by inconsistent policymaking.[4] …”

http://en.wikipedia.org/wiki/Amity_Shlaes

Amity Shlaes Web Site

http://www.amityshlaes.com/

“…Synopsis

It’s difficult today to imagine how America survived the Great Depression. Only through the stories of the common people who struggled during that era can we really understand how the nation endured. These are the people at the heart of Amity Shlaes’s insightful and inspiring history of one of the most crucial events of the twentieth century. 

In The Forgotten Man, Amity Shlaes, one of the nation’s most respected economic commentators, offers a striking reinterpretation of the Great Depression. Rejecting the old emphasis on the New Deal, she turns to the neglected and moving stories of individual Americans, and shows how through brave leadership they helped establish the steadfast character we developed as a nation. Some of those figures were well known, at least in their day—Andrew Mellon, the Greenspan of the era; Sam Insull of Chicago, hounded as a scapegoat. But there were also unknowns: the Schechters, a family of butchers in Brooklyn who dealt a stunning blow to the New Deal; Bill W., who founded Alcoholics Anonymous in the name of showing that small communities could help themselves; and Father Divine, a black charismatic who steered his thousands of followers through the Depression by preaching a Gospel of Plenty. 

Shlaes also traces the mounting agony of the New Dealers themselves as they discovered their errors. She shows how both Presidents Hoover and Roosevelt failed to understand the prosperity of the 1920s and heaped massive burdens on the country that more than offset the benefit of New Deal programs. The real question about the Depression, she argues, is not whether Roosevelt ended it with World War II. It is why the Depression lasted so long. From 1929 to 1940, federal intervention helped to make the Depression great—in part by forgetting the men and women who sought to help one another. 

Authoritative, original, and utterly engrossing, The Forgotten Man offers an entirely new look at one of the most important periods in our history. Only when we know this history can we understand the strength of American character today. …”

 

Biography

Amity Shlaes is a senior fellow in economic history at the Council on Foreign Relations and a syndicated columnist at Bloomberg. She has written for The Financial Times and The Wall Street Journal, where she was an editorial board member, as well as for The New Yorker, Fortune, National Review, The New Republic, and Foreign Affairs. Shlaes is the author of The Greedy Hand. She lives in New York. …”

http://search.barnesandnoble.com/The-Forgotten-Man/Amity-Shlaes/e/9780066211701

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Cap and Trade Carbon Dioxide Tax: Gore’s and Obama’s Revenge on The American People–Let Them Freeze and Sweat!

Posted on March 31, 2009. Filed under: Blogroll, Climate, Computers, Economics, Education, Employment, Energy, Investments, Law, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Religion, Resources, Science, Security, Strategy, Taxes, Technology, Video | Tags: , , , , , , , , , , , |

“A lie gets halfway around the world before the truth has a chance to get its pants on.”

~Winston Churchill 

 

Obama: “Cap & Trade Will Cause Electricity Rates To Skyrocket”

 

Global warming and the Carbon Tax Scam

 

This Week in Washington 3/30/09: Cap and Tax

 

Unstoppable Solar Cycles


 

 

Vaclav Klaus: No progress in the climate change debate

 

Shock VIDEO Unearthed Obama says he will bankrupt coal industry

 

November SURPRISE Obama to Bankrupt Coal Industry Energy to SKYROCKET!!!

 

Warren Buffett Slams “Cap and Trade” as a Regressive Tax on All Americans

 

 

Global Warming: The Debate Continues (Sample)

 

Complete Video of Global Warming: The Debate Continues

http://www.dailymotion.com/video/xoo7a_global-warming-the-debate-continues

  

 

Senator Inhofe Cap-and-trade floor speech March 18, 2009

Both Al Gore and Barack Obama will burn in hell for implementing a tax on the American people that will do absolutely nothing to stop global warming or climate change.

The government subsidized junk science of climate computer models is being used to needlessly alarm  people that man is the primary cause of the global warming by his emissions of carbon dioxide into the atmosphere.

These climate computer models have been found wanting when compared to actual empirical observations from satellite data sets of global temperatures:

 

Professor Fred Singer on Climate Change pt 1

 

Professor Fred Singer on Climate Change pt 2

 

Carbon dioxide is not a pollutant.

Global warming or climate change is natural and not man-made.

Global warming or climate change is unstoppable.

Yet the global warming alarmists including Al Gore and President Barack Obama want to tax all Americans by setting up a cap and trade tax for carbon dioxide emissions.

Apparently neither Al Gore’s or Barack Obama’s parents explained to them when they were children that you cannot change the weather.

If they had learned that lesson, they would not now be wasting people’s time and money to try to change climate. 

Both Al Gore and President Barack Obama are deliberately planning to wreck the US economy and destroy jobs by increasing taxes that will impact every American who uses electricity, heating oil, and gasoline.

What foreign powers are paying these guys? 

Curious Americans would like to know who and when these guys were recruited.

Which country benefits the most–Russia, Iran, Saudi Arabia, China?

In the middle of a recession to propose a new and highly questionable cap and trade carbon dioxide tax that would impact all Americans is the height of arrogance, ignorance and folly.

The radical socialist cap and trade carbon tax reminds me of Mao’s Great Leap Forward that was an utter failure that killed an estimated 30 to 70 million people mostly from starvation over a three year period:

The Great Leap Forward

 

3 years of communist famine in China

 

God save America from the radical socialist fanatics.

“A fanatic is one who can’t change his mind and won’t change the subject.”

~Winston Churchill

 Join the Second American Revolution:

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

 

Background Articles and Videos 

March 17, 2009

Carbon Tax vs. Cap and Trade

By Ilya Leybovich

“…The debate is heating up: Impose a nationwide carbon tax or implement a cap-and-trade system to curb carbon dioxide emissions?

Reforming America’s energy policies has become a major concern for businesses and the public alike. With economic and environmental factors in fierce contention among many, finding a comprehensive strategy may seem like a daunting task. Currently, the two prevailing options are either a cap-and-trade system, such as the one currently favored by the European Union, or a carbon emissions tax. Both raise the price for carbon and provide economic incentives to lower emission rates, but supporters of each policy seem deadlocked by opposing arguments.

Unraveling the debate in this framework may be more important than ever before, as United States energy policy appears likely to move forward one path or the other.*

The cap-and-trade strategy is considered a more market-driven approach to handling America’s carbon dioxide output. As the Environmental Protection Agency (EPA) explains, under this system the government sets an overall emissions cap while creating allowances that enable businesses to emit a given amount. The allowances can be traded, so companies that reduce their emissions can sell surplus allowances to those who would have to pay to comply. In theory, this method allows companies to achieve their maximum allowable output at the lowest cost.

This approach has gained support in Congress and from the Obama administration, with cap-and-trade provisions appearing in the latest federal budget proposal.

Under President Barack Obama’s 2010 budget plan, the government would auction off all emission credits, generating as much as $650 billion in cumulative government revenue between 2012 and 2020, both the New York Times and the Wall Street Journal report (subscription required). The government would then allocate $65 billion from the auction revenue for emission credits toward middle-income tax cuts, as well as $15 billion in funding for “clean air” technologies. …”

http://news.thomasnet.com/IMT/archives/2009/03/carbon-tax-versus-cap-and-trade-system-debate-heats-up.html

 

An Inconvenient Tax

Cap and trade yields ‘climate revenues.’ But don’t call it a t–.

“…Meanwhile, the political class loves a cap-and-trade tax because it gives them new economic and political power. Congress would create a new property right to expend CO2, setting a price per ton on carbon output, and then Congress would also get to determine the distribution of allowances. The Administration wants all of them to be auctioned off, which is what creates the giant revenue windfall. The politicians would then decide how to spend all of that new “climate revenue.”

Mr. Obama’s budget proposes to spend this windfall on two items: $15 billion a year in more subsidies for alternative fuels, and $65 billion or so a year to finance tax subsidies for workers, many of whom don’t pay income taxes. In other words, once this cap-and-trade tax is on the books, the revenue stream will create political constituencies that depend on it.

No new pot of gold goes uncontested, however, so you can assume that Mr. Obama’s priorities will not go unchallenged. Already on Capitol Hill, Charlie Rangel’s tax committee and Henry Waxman’s energy clan are feuding about who gets to divvy up the spoils. Not to mention who gets the political control that will become a source of tens of millions in new campaign contributions from thousands of affected businesses.

By the way, the Congressional Budget Office estimates that cap-and-trade taxes would actually throw off as much as $300 billion every year — not merely $78.7 billion — and in a footnote the Obama budget implicitly acknowledges that its $645.7 billion estimate is a lowball: “All additional net proceeds will be used to further compensate the public.” No doubt. …”

http://online.wsj.com/article/SB123569802712289113.html

 

Global Warming: How Hot Air and Bad Science Will Give You Staggeringly Higher Taxes and Prices. 

 

The Importance of Coal to our Economy – Cap and Trade

 

Czech President Compares Global Warming Hype to USSR

 

Glenn Beck – 02-05-2009 – Global Warming Indoctrination with Bernard Goldberg


 

Energy Solutions for America

 

Global Warming or Global Governance? Part1

 

Global Warming or Global Governance? Part 2

 

Global Warming or Global Governance? Part 3


 

Global Warming or Global Governance? Part 4

 

Global Warming or Global Governance? Part 5

 

Global Warming or Global Governance? Part 6

 

Global Warming or Global Governance? Part 7

 

Global Warming or Global Governance? Part 8

LOL

WE can’t stop Global Warming…

GE & the green bank

Al Gore’s media empire melting down even faster than Greenland’s glaciers.

 

 

Thumbs have turned down for Al Gore's financial fortunes.

Thumbs have turned down for Al Gore’s financial fortunes.

“…The former vice president didn’t see this coming. Instead of worrying about glaciers melting down in 100 years, Al Gore should have worried about the economy melting down this year.

 

Times are tough and the Goracle’s nascent media empire – built around the Current cable TV network – and has cancelled plans for a $100,000,000 public stock offering.

“In light of current market conditions, the registrant has determined not to proceed at this time with the public offering,” Current said in an SEC filing. “All activity regarding the proposed public offering has been discontinued.” …”

http://www.ihatethemedia.com/al-gore-media-empire-melting-down-even-faster-than-greenland-glaciers

 

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The War Without End That Obama Supports?–Spoken Like A Statist True Believer

Posted on March 30, 2009. Filed under: Blogroll, Economics, Employment, Foreign Policy, Health Care, Immigration, Law, Life, Links, People, Politics, Rants, Raves, Regulations, Resources, Security, Taxes, Video, War | Tags: , , , , , , , , |

 

LET OBAMA KNOW YOUR MAD AT HIS MARIJUANA STATEMENT NOW!

 

Glenn Beck Legalize Marijuana & Stop The Violence

Barack Obama on Marijuana Decriminalization (2004)

Mexico’s Drug War

 

Lou Dobbs: Mexican Border Drug War & Border Fencing

 

Ted Galen Carpenter on Drug Prohibition’s Role in Mexico’s Violence

 

Mexican Drug Cartels Overrunning American Cities. Build a border Wall

 

The illegal drug business is highly profitable and big business in Mexico and the United States.

The profits from the business are used to corrupt politicians, judges and law enforcement in both Mexico and the United States.

If drugs now illegal were made legal, the huge profits would decline and the government would have a new excise tax to collect.

Prison populations would also decline and the money spent elsewhere or returned to the taxpayer.

Yet politicians of both political parties vigorously oppose drug legalization.

The main argument against drug legalization is that it would result in more drug use especially among the young.

Well if the consumer wants to waste his/her money, body and life on drugs–so be it, so long as they pay for their drug habit with their own money.

I am far more concerned about the American people who do not use drugs being murdered, attacked, robbed, and then taxed to put away those who are involved in the big business of drug distribution.

Drug legalization may or may not result in more Americans using drugs, put it should over time reduce the violence now associated with the drug trade and reduce the prison population.

The American people win and the criminal class loses–sounds good to me.

Unfortunately, the political class of both parties oppose drug legalization.

Why?

Big businesses make big campaign contributions, how dare you suggest drugs be legal?

Go to you doctor and I bet he prescribed drugs for your problem no matter what the medical condition.

Drug companies, doctors, and drug dealers contribute to the political campaigns of candidates for political office world wide, including those running for office in the United States.

Individuals should be free to chose what they put into their bodies.

The state should not use govenment intervention to try to limit the supply of drugs, both legal and illegal.

I do not approve of or use tobacco, alcohol, or illegal drugs and urge others not to use them.

I have seen what the abuse of these substances does not only to the user of them but to their families, friends and employees.

The war on drugs is a lost cause.

The time is long past that the collateral damage of illegal drug use be minimized if not eliminated by legalizing all drugs.

The Mexican invasion of 20 to 30 million illegal aliens into the United States has also brought the massive amount of illegal drugs, gang violence and corruption into the United States.

The benign neglect of the Open Borders needs to be replaced by drug legalization in the US to stop the demand for illegal drugs and closed borders with a double fence, road, and patrolled borders to stop criminal aliens bringing their drugs, gang violence and corruption into the US.

MORE MARIJUANA BULL FROM THE OBAMA ADMINISTRATION!

 

OBAMA – Bill Maher discuss with guest about Obama’s Marijuana statement

 

Obama Marijuana Policy (MPP-TV)

 

Profiles in Marijuana Reform: Milton Friedman (MPP-TV)

 

Video FileQuick Capture

 

William F. Buckley on cigarettes, illegal drug and hypocrisy

 

William F. Buckley on Drugs (1-3)

 

William F. Buckley on Drugs (2-3)

William F. Buckley on Drugs (3-3)

 

Legalize Marijuana…

 

Background Articles and Videos

 

 

Troubled Neighbor: Mexico’s Drug Violence Poses a Threat to the United States

by Ted Galen Carpenter

“…While U.S. leaders have focused on actual or illusory security threats in distant regions, there is a troubling security problem brewing much closer to home. Violence in Mexico, mostly related to the trade in illegal drugs, has risen sharply in recent years and shows signs of becoming even worse. That violence involves turf fights among the various drug-trafficking organizations as they seek to control access to the lucrative U.S. market. To an increasing extent, the violence also entails fighting between drug traffickers and Mexican military and police forces.

The carnage has already reached the point that the U.S. State Department has issued travel alerts for Americans traveling in Mexico. U.S. tourism to cities on Mexico’s border with the United States, where the bloodshed has been the worst, has dropped sharply. Even more troubling, the violence is spilling across the border into communities in the southwestern United States.

U.S. officials, alarmed at the growing power of the Mexican drug cartels, have pressured the government of Felipe Calderón to wage amore vigorous anti-drug campaign. Calderón has responded by giving the army the lead role in efforts to eliminate the drug traffickers instead of relying on federal and local police forces, which have been thoroughly corrupted by drug money. Washington has rewarded Calderón’s government by implementing the initial stage of the so-called Mérida Initiative. In June 2008, Congress approved a $400 million installment modeled on Plan Colombia, the anti-drug assistance measure for Colombia and other drug-source countries in the Andean region. That program, now in its ninth year, has already cost more than $5 billion, without significantly reducing the flow of drugs coming out of South America. The Mérida Initiative will likely cost billions and be equally ineffectual. …”

“…55. Rethinking the International Drug War

Congress should

  • repeal the Anti-Drug Abuse Acts of 1986 and 1988 and all legislation requiring the United States to certify drug-source countries’ cooperation in counternarcotics efforts,
  • declare an end to the international war on drugs, and
  • remove U.S. trade barriers to the products of developing countries.
Washington’s international drug control campaign exhibits every flaw inherent to the worst forms of central planning. The war on drugs–a program whose budget has tripled over the last 10 years–has failed remarkably in all aspects of its overseas mission. Most telling, illicit drugs continue to flow across U.S. borders, unaffected by the more than $20 billion Washington has spent since 1982 in its supply-side campaign. The purity of cocaine and heroin, moreover, has increased, while the prices of those drugs have fallen dramatically during the same period.The U.S. government has not only federalized the social problem of drug abuse by treating narcotics use as a criminal offense; it has intruded into the complex social settings of dozens of countries around the globe by pressuring foreign governments to adopt certain laws and policies. In the process, Washington has severely aggravated the political and economic problems of drug-source nations. Counternarcotics strategy thus conflicts with sound foreign policy goals, namely the encouragement of free markets and democracy in developing countries. For countless reasons, the international drug war is both undesirable and unwinnable. …”

http://www.cato.org/pubs/handbook/hb105-55.html

 

Planting the seeds of the next shamnesty

By Michelle Malkin  

“…The Hill reports that President Obama will “huddle” with Hispanic Democrats tomorrow to talk “immigration reform.”

Translation: The seeds of the next shamnesty are being planted: …”

http://michellemalkin.com/2009/03/17/planting-the-seeds-of-the-next-shamnesty/

Law Enforcement Against Prohibition

 

Undercover Narc Says Legalize ALL Drugs 

 

Drug Legalization Isn’t the Answer

Countries that have experimented with a permissive approach have always turned back

 

“…Since 2001 the number of young people using illegal drugs has dropped by 900,000 to about 2.7 million. This drop is an important development for all the obvious reasons, plus one. Substance abuse is a disease. Until recently, we failed to grasp the nature of this disease and how to reduce the suffering it causes.

For decades, we did not want to believe that alcohol or drugs could have the power to take over our lives, despite the evidence we witnessed when our loved ones grappled with drug addiction. We did not understand how this disease could alter personality and steal individual freedom. We have paid a high price for this confusion.

We will not quickly change the powerful forces that have for decades presented drug use as thrilling and fun. For most drug addicts, the first foray into drug use begins when they are young and have no expectation of becoming addicted. Nonetheless, they do become addicted and their denial increases as dependency worsens.

We can prevent and successfully treat this disease, however. There are millions of Americans in recovery who are staying clean and sober each day. The rate of drug use among high-school seniors has been cut nearly in half since its peak years of 1978 and 1979, to 22.3% in 2008. Prevention and treatment have been producing steady results. …”

http://online.wsj.com/article/SB123630239109047197.html

 

President Obama Names New Drug CZAR

 

William J. Bennett Promotes Conservative Principles

 

MORE AMERICANS KILLED BY MEXICANS THAN IN IRAQ

http://www.youtube.com/watch?v=kCOzu77KSLQ

The lady in the above vidoe is in deep denial as to what is going on and out of touch as to what the American people want–for the illegal aliens to go home!

MEXICO DEMANDS U.S.A. SURRENDER NOW!!

 

Immigration Raids Suspended For Fear of Retaliation from Obama Administration

 

Mismatch: Laura Ingraham Vs. Immigration Activist


 

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Yaron Brook–Videos

Posted on March 28, 2009. Filed under: Blogroll, Books, Economics, Links, Philosophy, Politics, Quotations, Religion, Video | Tags: , , , , , , , , , , , , |

 

Yaron Brook

Yaron Brook

The Relevance of Atlas Shrugged in Today’s World – Ayn Rand Center for Individual Rights

 

Is Atlas Shrugging?

http://www.pjtv.com/video/PJTV_Daily/Is_Atlas_Shrugging%3F/1530/;jsessionid=abcJ7cybVEg5D4v_arras
 

The Capitalist Manifesto

 

The Resurgence of Big Government – Ayn Rand Center - 1 of 2

 

The Resurgence of Big Government – Ayn Rand Center – 2 of 2

 

The Morality of Capitalism Part 1 of 7

 

The Morality of Capitalism Part 2 of 7

 

The Morality of Capitalism Part 3 of 7

 

The Morality of Capitalism Part 4 of 7

 

The Morality of Capitalism Part 5 of 7

 

The Morality of Capitalism Part 6 of 7

 

The Morality of Capitalism Part 7 of 7

 

Origin of Altruism – Ayn Rand Center for Individual Rights

 

The Great Depression – Ayn Rand Center for Individual Rights

 

Public Education – Ayn Rand Center for Individual Rights

 

Internet Regulation – Ayn Rand Center for Individual Rights

 

Government Highways – Ayn Rand Center for Individual Rights

 

Capitalism in China: Should We Trade With Them? – Ayn Rand Center for Individual Rights

 

Objectivism, Atheism & Conflict Between Religion & Science — Ayn Rand Center for Individual Rights

Reasons to be Optimistic about Ayn Rand’s Influence on American Culture

Yaron Brook’s Call to Action – March 2009 (Part 1 of 2)

Yaron Brook’s Call to Action – March 2009 (Part 2 of 2)

Yaron Brook 27 march 2009

Interview with Yaron Brook
http://www.youtube.com/watch?v=GIoP7V6U-aQ&NR=1

 

Background Articles and Videos

 

Yaron Brook

“Yaron Brook (Hebrew: ירון ברוק‎; born 1961) is the current president and executive director of the Ayn Rand Institute, an educational non-profit organization in Irvine, California, whose mission is to promote the novels of Ayn Rand and her philosophy of Objectivism. He regularly speaks at universities, corporations, and professional and community groups across America, addressing a wide-range of current events and philosophical issues from an Objectivist perspective. He is a frequent radio guest on The Thom Hartmann Program, a weekly guest on the Fox Business Network[1][2], and has appeared many times on national TV shows such as CNBC’s On the Money[3]. He is interviewed for his expertise on the Middle East, business ethics issues, and the economy. He served in the Israeli Army military intelligence, and he is a former professor with a PhD in finance.[4] …”

“…In 1987 Brook moved to the United States to study at the University of Texas at Austin (UT). At UT he received his MBA (in 1989) and his PhD in finance (in 1994). He was subsequently hired to teach finance at Santa Clara University in California, where he was an assistant professor for seven years. He was an award-winning teacher and developed a popular class on Finance and Ethics.[1]

In 1998 Brook (with Robert Hendershott) started an investment consulting business called BH Equity Research, located in San Jose, California. He is currently a managing partner of that firm.[2] He also co-founded Lyceum International in 1994, a company that organized Objectivist conferences and offered distance-learning courses.[3]

Brook left Santa Clara University in 2000 to become president and executive director of the Ayn Rand Institute, which was then located in Marina del Rey, California. The Institute moved to Irvine, California in 2002.[4] …”

http://en.wikipedia.org/wiki/Yaron_Brook

 

Yaron Brook Web Site

http://www.yaronbrook.com/

 

Ayn Rand® Institute (ARI).

http://www.aynrand.org/site/PageServer?pagename=index

 

Capitalism Magazine About Yaron Brook

http://www.capmag.com/author.asp?ID=16

 

The Government Did It
Yaron Brook

“…All of these government factors contributed to creating a situation in which millions of people were buying homes they could not afford, in which the participants experienced the illusion of prosperity, in which billions upon billions of dollars were going into bad investments. Eventually the bubble burst; the rest is history.

Given that our government was behind the wheel, influencing every aspect of the mortgage crisis, it is absurd to call today’s situation the result of insufficient regulation.

We do not need more regulation or economic “steering”–laws or bureaucrats dictating to financiers and investors the kind of innovation they may or may not engage in. If that were the solution to economic problems, then Hugo Chavez would preside over the world’s healthiest economy in Venezuela. What we need to do is remove the government’s power to coerce, bribe, reward and bail out irrational decisions. The unfree market has failed. It’s time for a truly free market.

Yaron Brook is managing director of BH Equity Research and executive director of the Ayn Rand Institute.”

http://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html

Leave the lights on: Celebrate Human Achievement Hour

By Michelle Malkin  

I mentioned earlier this week that my friends at CEI are leading a counter-movement today to answer the enviro-nitwits’ “Earth Hour” with Human Achievement Hour.

Leave the lights on between 8:30pm and 9:30pm and watch this video with your friends and family! …”

http://michellemalkin.com/2009/03/28/leave-the-lights-on-celebrate-human-achievement-hour/

 

Celebrate Human Achievement Hour

By Michelle Malkin 

“…This weekend, enviro-zealots will celebrate “Earth Hour” by turning off their lights. They’ve pulled this stunt for a few years now. But this time, they’ve added a new twist: “This year, Earth Hour has been transformed into the world’s first global election, between Earth and global warming. For the first time in history, people of all ages, nationalities, race and background have the opportunity to use their light switch as their vote – Switching off your lights is a vote for Earth, or leaving them on is a vote for global warming.”

How about voting for human achievement? Michelle Minton at the Competitive Enterprise Institute has a good proposal: …”

http://michellemalkin.com/2009/03/24/celebrate-human-achievement-hour/

 

Related Posts On Pronk Palisades

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The Three Amigos: Jim Rogers, Yaron Brook, and Ron Paul To President Obama–You Are Wrong Economically and Morally!

Jim Rogers–Videos

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The Three Amigos: Jim Rogers, Yaron Brook, and Ron Paul To President Obama–You Are Wrong Economically and Morally!

Posted on March 28, 2009. Filed under: Blogroll, Economics, Education, Employment, Energy, Investments, Links, Politics, Quotations, Video | Tags: , , , , , , , , , , , |

three_amigos

Three Amigos

First, some Rogers rants and raves to get your attention:

Jim Rogers Geithner does not know what he is doing …

Jim Rogers welcome to the economic meltdown

Jim Rogers on CNBC: ABOLISH THE FEDERAL RESERVE!

Jim Rogers Discusses China 3-24-09

Could not have said it better myself.

Looks like Rogers is pissing on Soros’ socialist  economy wreckers and job destroyers.

How do  you spell relief?

Keep telling it like it is Jim!

Second, to calm us down and start thinking.

Yaron gives us the capitalist view:

 

Yaron Brook’s Call to Action – March 2009 (Part 1 of 2)

Yaron Brook’s Call to Action – March 2009 (Part 2 of 2)

The Morality of Capitalism Part 1 of 7

The Morality of Capitalism Part 2 of 7

The Morality of Capitalism Part 3 of 7

The Morality of Capitalism Part 4 of 7

The Morality of Capitalism Part 5 of 7

The Morality of Capitalism Part 6 of 7

The Morality of Capitalism Part 7 of 7

Reasons to be Optimistic about Ayn Rand’s Influence on American Culture

Yaron Brook 27 march 2009

Interview with Yaron Brook
http://www.youtube.com/watch?v=GIoP7V6U-aQ&NR=1

 

Ron also would like to end the Federal Reserve, but let us audit it as a first step.

Ron Paul HR 1207

 

Ron Paul on Washington Watch – Audit the Federal Reserve HR 1207 03-03-09 1 of 2

 

Ron Paul on Washington Watch – Audit the Federal Reserve HR 1207 03-03-09 2 of 2

 

Ben Bernanke RefusesTransparency – TAKE ACTION NOW!

Rep. Manzullo Discusses Radical Treasury Plan on the Glenn Beck Show

 

Background Articles and Videos

 Three Amigos

“…Three Amigos! is a 1986 comedy western film, produced by George Folsey, Jr. and Lorne Michaels. John Landis directed. Steve Martin, Chevy Chase, and Martin Short star. The movie was written by Steve Martin, Lorne Michaels, and Randy Newman. Randy Newman contributed three original songs: “The Ballad of the Three Amigos”, “My Little Buttercup” and “Blue Shadows”, while the musical score was composed by Elmer Bernstein. It was shot in Simi Valley, California, Coronado National Forest, Old Tucson Studios, and Hollywood. It was originally entitled The Three Caballeros and Steve Martin was to be teamed with Dan Aykroyd and John Belushi. This film is 79. on Bravo’s “100 Funniest Movies.”

In the year 1916, three prissy silent film actors are fired after they demand a higher salary for their popular “Three Amigos” western films. Later that day they receive a plea from the villagers of Santo Poco who have been under siege from the infamous villain El Guapo (“The Handsome Guy”). Mistaking the plea for an acting job, the actors steal their costumes and travel to Santo Poco. The villagers give the actors a hero’s welcome, believing them to be bona fide gunfighters. After a nearly fatal confrontation with El Guapo, the actors realize the danger to which they are now subject. They panic and plan a hasty retreat, leaving the villagers at the mercy of El Guapo. They soon return to the village and, upon seeing the devastation caused by the bandits, decide to step up and become the Three Amigos for real. …”

http://en.wikipedia.org/wiki/%C2%A1Three_Amigos

 

Obama’s online townhall: What’s really going on? Updated: Megalomania-palooza!

By Michelle Malkin  •  March 26, 2009 10:35 AM

“…Scroll down for updates…

At 11:30am Eastern, President Obama will conduct an “online townhall” on the economy.

At this moment, the White House website reports that “92,889 people have submitted 104,079 questions and cast 3,608,538 votes.”

In order to ask a question, you must register your name, e-mail, and zip code. …”

http://michellemalkin.com/2009/03/26/obamas-online-townhall-whats-really-going-on/

 

Leave the lights on: Celebrate Human Achievement Hour

By Michelle Malkin  

I mentioned earlier this week that my friends at CEI are leading a counter-movement today to answer the enviro-nitwits’ “Earth Hour” with Human Achievement Hour.

Leave the lights on between 8:30pm and 9:30pm and watch this video with your friends and family! …”

http://michellemalkin.com/2009/03/28/leave-the-lights-on-celebrate-human-achievement-hour/

Celebrate Human Achievement Hour

By Michelle Malkin 

“…This weekend, enviro-zealots will celebrate “Earth Hour” by turning off their lights. They’ve pulled this stunt for a few years now. But this time, they’ve added a new twist: “This year, Earth Hour has been transformed into the world’s first global election, between Earth and global warming. For the first time in history, people of all ages, nationalities, race and background have the opportunity to use their light switch as their vote – Switching off your lights is a vote for Earth, or leaving them on is a vote for global warming.”

How about voting for human achievement? Michelle Minton at the Competitive Enterprise Institute has a good proposal: …”

http://michellemalkin.com/2009/03/24/celebrate-human-achievement-hour/

 

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Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

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George Soros: Barack Obama’s Money Man and Agenda Puppeter

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Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

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Recession–Recession–Recession–Scaring People–Have A Hot Dog!

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Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

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Presidential Election 2008: American Elites Vs. American People

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

John McCain’s Position on Illegal Immigration and Criminal Alien Removal? 

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

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The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

 

 

Read Full Post | Make a Comment ( 3 so far )

Obama’s Face Crime–Hate Speech–Hate Crime–Just Free Speech–Live With It!

Posted on March 27, 2009. Filed under: Blogroll, Communications, Computers, Films, Law, Links, People, Politics, Quotations, Rants, Raves, Regulations, Talk Radio, Technology, Video | Tags: , , , , , , , , , , , |

 

free_speech-poster

 

“It was terribly dangerous to let your thoughts wander when you were in any public place or within range of a telescreen. The smallest thing could give you away. A nervous tic, an unconscious look of anxiety, a habit of muttering to yourself–anything that carried with it the suggestion of abnormality, of having something to hide. In any case, to wear an improper expression on your face…; was itself a punishable offense. There was even a word for it in Newspeak: facecrime, it was called.”

~George Orwell, Nineteen-Eighty-Four, page 65.

 

Punch Drunk, Mr. President? / Is Obama Insensitive To The Dire Realities Of The Economy & Families?

 

Obama Overexposed?

http://www.youtube.com/watch?v=zJotXkPCfeU

 

big brother is watching you,hymne d’océania

 

The radical socialists of the American left try to limit free speech by saying a person is engaging in “hate speech”. 

This is a tactic for trying to shutup people the left in America do not agree with.

 

Free Speech, Hate Speech, the UN and Youtube

 

CNN Covers Growing Number of Hate Groups


 

Next the politically correct radical socialists would like you to believe that hate speech is a crime.

 

CNN: Hate crimes surge after Obama inauguration

Not so fast.

Part 1: Rev. Jeremiah Wright In His Own Words

 

Part 2: Rev. Jeremiah Wright In His Own Words

 

Looks like President Obama has some experience after all, twenty years of listening to Reverend Wright anti-white and anti-American views–free speech yes, a hate speech–a hate crime–you tell me?

If  you do not like what I am saying, do not listen, walk away.

There is no such thing as hate speech or hate crimes in the United States of American–it is free speech.

Until now that is and if President Obama gets his war.

Seems like President Obama supports two hate crime law bills in Congress, HR 256 and HR 262.

Thought Police ‘Hate Crimes’ Prevention Act, HR 256 Hate Bill Exposed!

Freedom Under Fire: U.N. Anti-Blasphemy Resolution – With Christopher Hitchens

 

Who are the 57 Islamic countries?

Candidate Obama confused them with the 50 states of United States:

 

New Poll: McCain/Palin Will Win 50 States!–Obama/Biden Will Win 57 States?

 

Just say no to the  hate speech and hate crimes bills.

The next time someone says your remarks are offensive and hate speech–perform some magic:

Or if you are pressed for time, just say–Excuse Me!

If  you call a “undocumented immigrant” an illegal immigrant or criminal alien you may in the future be accused of hate speech and a hate crime if the proposed hate crimes bills pass.

 

A Hate Crime for Calling People Illegal Aliens?

What if they Stole Your Springsteen Seats…

 Obama Poster

Bill of Rights

Amendment I

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.

United States Constitution

http://www.law.cornell.edu/constitution/constitution.billofrights.html

 

Background Articles and Videos

THE AGENDA • CIVIL RIGHTS

“…President Barack Obama has spent much of his career fighting to strengthen civil rights as a civil rights attorney, community organizer, Illinois State Senator, U.S. Senator, and now as President. Whether promoting economic opportunity, working to improve our nation’s education and health system, or protecting the right to vote, President Obama has been a powerful advocate for our civil rights.

  • Combat Employment Discrimination: President Obama and Vice President Biden will work to overturn the Supreme Court’s recent ruling that curtails racial minorities’ and women’s ability to challenge pay discrimination — on Jan. 29, 2009, President Obama signed the Lilly Ledbetter Fair Pay Restoration Act of 2009, to ensure that women receive equal pay for equal work. they will also pass the Employment Non-Discrimination Act, to prohibit discrimination based on sexual orientation or gender identity or expression.
  • Expand Hate Crimes Statutes: President Obama and Vice President Biden will strengthen federal hate crimes legislation, expand hate crimes protection by passing the Matthew Shepard Act, and reinvigorate enforcement at the Department of Justice’s Criminal Section.
  • End Deceptive Voting Practices: President Obama will sign into law his legislation that establishes harsh penalties for those who have engaged in voter fraud and provides voters who have been misinformed with accurate and full information so they can vote.
  • End Racial Profiling: President Obama and Vice President Biden will ban racial profiling by federal law enforcement agencies and provide federal incentives to state and local police departments to prohibit the practice.
  • Reduce Crime Recidivism by Providing Ex-Offender Support: President Obama and Vice President Biden will provide job training, substance abuse and mental health counseling to ex-offenders, so that they are successfully re-integrated into society. Obama and Biden will also create a prison-to-work incentive program to improve ex-offender employment and job retention rates.
  • Eliminate Sentencing Disparities: President Obama and Vice President Biden believe the disparity between sentencing crack and powder-based cocaine is wrong and should be completely eliminated.
  • Expand Use of Drug Courts: President Obama and Vice President Biden will give first-time, non-violent offenders a chance to serve their sentence, where appropriate, in the type of drug rehabilitation programs that have proven to work better than a prison term in changing bad behavior. …”

http://www.whitehouse.gov/agenda/civil_rights/

HR 256 and HR 262 Threaten Constitutional Free Speech Rights

“All Americans need to take a close look at David’s Law (H.R. 256) and its companion bill, The David Ray Ritcheson Hate Crimes Prevention Act of 2009 (H.R. 262). These two so-called “hate crime” bills, introduced by Representative Sheila Jackson-Lee (D-TX), are Trojan horses designed to silence Constitutionally-guaranteed free speech that is not considered “politically correct” by liberals.

Similar legislation did not become law during the previous Congress because President Bush threatened to veto it. However, President Obama has pledged to sign this “hate crime” legislation if it reaches his desk. As a State Senator, Obama helped pass “hate crimes” legislation in Illinois. The White House website states that Obama is determined to pass the most pro-homosexual, free-speech destroying legislation ever to come before Congress, including expanded “hate crime” laws and legal “support for the LGBT (Lesbian, Gay, Bi-Sexual, Transgender) community.”

Obama’s hate crime agenda is modeled after European and Canadian law. An Amsterdam Court of Appeals has recently decided to prosecute Dutch lawmaker Geert Wilders for inciting hatred against Muslims. This came after Wilders made a film, Fitna, that linked the Koran to violence against Christians, Jews and even other Muslims. The film largely used footage of Muslim clerics giving speeches that incite violence. But for telling the truth, Wilders is on trial. Other nations that have adopted hate crimes legislation, like Canada, have deprived their citizens of their freedom of speech and religious expression.  …”

http://www.maximuspolitics.net/2009/01/hr-256-and-hr-262-threaten.html

 

Pelosi’s Hate Bill Strategy
By Rev. Ted Pike

“…What is Pelosi’s strategy? Several aspects can be reasonably speculated.

 
The present hate crimes bill now in the House Judiciary Committee, the David Ray Hate Crimes Prevention Act, is not the real federal hate crimes bill for which most Democrats lust. It is a three-page abbreviation of the 5-page hate bill which passed the House two years ago. It only grants the federal government power to invade states’ rights in law enforcement to punish violent hate crimes, not all bias crimes against persons or property.
 
Yet even this intrusion is unprecedented, uniting federal and local law enforcement into police state jurisdiction over violent hate crimes. It would also elevate homosexuals to special federally protected status as well as create a bias motivation justice system, enforceable from the federal level. Such bias motivation as a criterion for federal intervention would soon broaden, through judicial precedent, into a national speech crime law, as happened in Canada. HR 256 also gives the federal government the potential to punish “as a principal” those whose vehement criticism of homosexuals or other federally protected groups might “abet” (Webster: “incite”) acts of violence against them (USC Title 18, Sec. 2[a]).
 
Since it will erode our First Amendment free speech, disregarding the Fourteenth Amendment as well as the Tenth Amendment guaranteeing states’ sovereign rights, even the stripped-down HR 256 should be shocking enough to raise a howl of protest to Washington.
 
But we hear no howl of protest. …”

http://www.rense.com/general85/pelo.htm

 

Closing The Borders
To Free Speech
By Harmony Grant

“…It seems unthinkable that the government could deny open debate on a subject like immigration. Yet a federal hate crimes bill before Congress will ultimately do just that-crush freedom of speech to favor “protected classes” (especially racial and religious minorities and homosexuals) and criminalize so-called “hate speech” against them. Such “hate speech” includes the most legitimate critiques of racial difference, protected religions, cultures, or behaviors-and especially immigration.

 
Hate crime laws-already passed in 45 of our 50 states-ride a wave of propaganda and misperception. Who isn’t against hate? Who doesn’t want to stop crime? But the reality of these laws is dark as any Orwellian tale. Hate crime laws intensify punishment for crimes motivated by bias against specially protected groups. This would be bad enough; our government representatives have no right to create more (and less) protected classes, and they certainly have no right to mine our thoughts and beliefs, then punish what they deem incorrect! But hate crime laws get even worse. In hate law countries such as Canada, they are quickly broadened to punish pure speech, even if no crime is committed.

 …”

http://www.rense.com/general85/free.htm

Obama’s Dangerous Hate Crime Agenda

“…Within moments of Barack Hussein Obama, the most liberal member of the U.S. Senate, being sworn in as the President of the United States, the White House’s website was updated. It showed that President Obama is strongly in favor of hate crimes legislation and will work to see it passed. Hate Crimes will silence Christians and keep them from fulfilling their duty to God to proclaim the truth!

As a State Senator, Obama helped pass hate crimes legislation in Illinois. On his White House website Obama shows that he is determined to pass the most pro-homosexual, free-speech destroying legislation ever to come before Congress, including expanded hate crime laws, and legal “support for the LGBT (Lesbian, Gay, Bi-Sexual, Transgender) community.”
The only reason that we do not already have Federal Hate Crime Law is because of President George W. Bush’s veto. President Obama has pledged to sign Hate Crime Legislation if it reaches his desk. We must stop the legislation before President Obama can sign it! …”

 http://www.christianadc.org/news-and-articles/244-obamas-dangerous-hate-crime-agenda

 

Obama’s online townhall: What’s really going on? Updated: Megalomania-palooza!

By Michelle Malkin  

Scroll down for updates…

“…At 11:30am Eastern, President Obama will conduct an “online townhall” on the economy.At this moment, the White House website reports that “92,889 people have submitted 104,079 questions and cast 3,608,538 votes.”In order to ask a question, you must register your name, e-mail, and zip code.The DNC, fresh off its failed attempt to muster grass-roots support for the president’s budget, has been aggressively advertising the townhall: …”http://michellemalkin.com/2009/03/26/obamas-online-townhall-whats-really-going-on/   

 

The coming G20 riots & the spread of mob rule

 

By Michelle Malkin  

 

 “…My syndicated column today continues the theme I blogged about two days ago in the “Rule of the Mob” post. Keep an eye on next week’s G20 summit in London. Thousands of anti-capitalism zealots will be amassing there to intimidate and harass bankers. The vandalizing of the Scottish ex-banking executive’s home in Edinburgh is just a prelude. The protests are slated to start tomorrow and last all week; President Obama leaves for the summit on Tuesday. The images above are graphics and posters being disseminated online by protest organizers.

The anarchists are reportedly using Google Streetview and Twitter to organize riots, hang businessmen in effigy at the behest of a university professor known as “Mr. Mayhem,” call for guillotining bank execs, and — get this — target London firms that fail to turn off their lights to commemorate that moronic “Earth Hour” event I wrote about earlier this week. If shops don’t worship at the altar of environmentalism, they will be broken into: …”

http://michellemalkin.com/2009/03/27/the-coming-g20-riots-the-spread-of-mob-rule/

 

Rush Limbaugh: Barack the Magic Negro – History and the Media Part 1

 

Rush Limbaugh: Barack the Magic Negro – History and the Media Part 2

 

Barack The Magic Negro Will Offend “SOME” People!

 

BREAKING NEWS – h r 256 and h r 262 must not pass!

 

H.R. 262: David Ray Ritcheson Hate Crime Prevention Act

http://www.scribd.com/doc/12830641/HR-262-David-Ray-Ritcheson-Hate-Crime-Prevention-Act

 

Reverend Jeremiah Wright National Press Club pt.1

 

Reverend Jeremiah Wright National Press Club pt.2


 

Reverend Jeremiah Wright National Press Club pt.3

 

Reverend Jeremiah Wright National Press Club pt.4

 

Reverend Jeremiah Wright National Press Club pt.5

 

Obama Poster

 

 

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1949: Big Brother–2009: Big Barack–Room 101–Newspeak–Redux Nineteen Eighty-Four!

Posted on March 27, 2009. Filed under: Art, Philosophy, Politics, Uncategorized, Video, War | Tags: , , , , , , , , |

“I worked out an anarchistic theory that all government is evil, that the punishment always does more harm than the crime and the people can be trusted to behave decently if you will only let them alone.’”

~George Orwell

 

 

George Orwell 1984 P1

 

Barack Obama speech – Election Night – Times Square NY 

 

Room 101

“You asked me once, what was in Room 101. I told you that you knew the answer already. Everyone knows it. The thing that is in Room 101 is the worst thing in the world.”

~O’Brien

 

 

Background Articles and Videos

 

 

George Orwell

“Eric Arthur Blair (25 June 1903 – 21 January 1950),[1] better known by his pen name George Orwell, was an English author. His work is marked by a profound consciousness of social injustice, an intense opposition to totalitarianism, and a passion for clarity in language.

Considered “perhaps the 20th century’s best chronicler of English culture”,[2] he wrote works in many different genres including novels, essays, polemic journalism, literary reviews, and poetry. His most famous works are the satirical novel Animal Farm (1945) and the dystopian novel Nineteen Eighty-Four (1949). …”

 

http://en.wikipedia.org/wiki/George_Orwell

 

Nineteen Eighty-Four

Nineteen Eighty-Four is a classic dystopian novel by English author George Orwell. Published in 1949, it is set in the eponymous year and focuses on a repressive, totalitarian regime. The story follows the life of one seemingly insignificant man, Winston Smith, a civil servant assigned the task of perpetuating the regime’s propaganda by falsifying records and political literature. Smith grows disillusioned with his meagre existence and so begins a rebellion against the system that leads to his arrest and torture.

The novel has become famous for its portrayal of pervasive government surveillance and control, and government’s increasing encroachment on the rights of the individual. Since its publication, many of its terms and concepts, such as “Big Brother,” “doublethink” and “Newspeak” have entered the popular vernacular. The word “Orwellian” itself has come to refer to anything reminiscent of the book’s fictional regime. …”

“…The Thought Police later capture Winston and Julia in their sanctuary bedroom and they are separately interrogated at the Ministry of Love, where the regime’s opponents are tortured and killed, but sometimes released (to be executed at a later date). Charrington, the shop keeper who rented them the room reveals himself an officer of the Thought Police. After a prolonged regimen of systematic beatings by prison guards and psychologically draining interrogations by Party loyalists, Winston is subjected to electroshock torture by O’Brien, who tells Winston it will “cure” him of his “insanity”, which O’Brien claims undeniably manifests itself in the form of Winston’s hatred for the Party. During a long and complex dialogue, O’Brien reveals, in what is the most important line in the book, that the motivation of the Inner Party is not to achieve a future paradise but to retain power, which has become an end in itself. He outlines a terrifying vision of how they will change society and people in order to achieve this, including the abolition of the family, the orgasm, and the sex instinct, with the ultimate goal of eliminating anything that may come between one’s love of Big Brother and Ingsoc. It will be a society that grows more, not less merciless as it refines itself, and a society without art, literature, or science, so that there are no distractions from their devotion to the Party, or any unorthodox thought, which is also meant to be achieved through the eventual eradication of Modern English, or “Oldspeak”. During a session, O’Brien explains that the purpose of the ordeal at the Ministry of Love is to alter Winston’s way of thinking, not to extract a confession, and that once Winston unquestioningly accepts reality as the Party describes it, he will be executed. …”

http://en.wikipedia.org/wiki/Nineteen_Eighty-Four

Room 101

Room 101 is a place introduced in the novel Nineteen Eighty-Four by George Orwell. It is a torture chamber in the Ministry of Love in which the Party attempts to subject a prisoner to his or her own worst nightmare, fear or phobia.

 

You asked me once, what was in Room 101. I told you that you knew the answer already. Everyone knows it. The thing that is in Room 101 is the worst thing in the world.
 
— O’Brien

Such is the purported omniscience of the state in the society of Nineteen Eighty-Four that even a citizen’s nightmares are known to the Party. The nightmare—and therefore the threatened punishment—of the protagonist Winston Smith is to be attacked by rats. Smith saves himself by begging the authorities to let his lover, Julia, have her face gnawed out by the ferocious rodents instead. The torture—and what Winston does to escape it—breaks his last promise to himself and to Julia: never to betray her emotionally. The book suggests that Julia is likewise subjected to her own worst fear, and when she and Winston later meet in a park, he notices a scar on her forehead. The original intent of threatening Winston with the rats was not necessarily to go through with the act, but to force him into betraying the only person he loved and therefore break his spirit.

Orwell named Room 101 after a conference room at BBC Broadcasting House where he used to sit through tedious meetings.[1] …”

http://en.wikipedia.org/wiki/Room_101

 

1984 ~~ Part : 01 of 12

 

 

1984 ~~ Part : 02 of 12

 

 

1984 ~~ Part : 03 of 12

 

1984 ~~ Part : 04 of 12

 

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george orwell 1984 P6

 

 

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george orwell 1984 P8  

 

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1984 ~~ Part : 07 of 12

 

1984 ~~ Part : 8 of 12

 

 

1984 ~~ Part : 9 of 12

 

1984 ~~ Part : 10 of 12

 

1984 ~~ Part : 11 of 12

 

1984 ~~ Part : 12 of 12

 

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Creature from Jekyll Island: The Federal Reserve System–Videos

Posted on March 26, 2009. Filed under: Blogroll, Books, Economics, Employment, Investments, Law, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Taxes, Video | Tags: , , , , |

G Edward Griffin – Creature From Jekyll Island A Second Look at the Federal Reserve

http://video.google.com/videoplay?docid=6507136891691870450

 

Creature from Jekyll Island 1 of 12

 

 

Creature from Jekyll Island 2 of 12

 

Creature from Jekyll Island 3 of 12

 

Creature from Jekyll Island 4 of 12

 

Creature from Jekyll Island 5 of 12

 

Creature from Jekyll Island 6 of 12

 

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Background Articles and Videos

Milton Friedman: The Purpose of the Federal Reserve

 

CNBC Milton Friedman Tribute! Federal Reserve Caused Great Depression!

 

The Founding of the Federal Reserve

Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

Federal Reserve Notes VS. United States Notes

G. Edward Griffin

G. Edward Griffin (born November 7, 1931) is an American film producer, author, and political lecturer.[1] Starting as a child actor, he became a radio station manager before age 20. After writing for the 1968 Wallace campaign, he began a career of producing documentaries and books on often-debated topics like cancer, Noah’s ark, and the Federal Reserve, as well as on right-libertarian views of the U.S. Supreme Court, terrorism, subversion, and foreign policy. Since the 1970s, Griffin has promoted Laetrile as a killer of cancer cells, a view not accepted by a majority of scientists.[2][3] He has also promoted the Durupınar site as hosting the original Noah’s ark, against skeptics as well as near-Ararat Creationists. He has opposed the Federal Reserve since the 1960s, saying it constitutes a banking cartel and an instrument of war and totalitarianism.[4] In 2002, Griffin founded the individualist network Freedom Force International.

 producer, author, and political lecturer.[1] Starting as a child actor, he became a radio station manager before age 20. After writing for the 1968 Wallace campaign, he began a career of producing documentaries and books on often-debated topics like cancer, Noah’s ark, and the Federal Reserve, as well as on right-libertarian views of the U.S. Supreme Court, terrorism, subversion, and foreign policy. Since the 1970s, Griffin has promoted Laetrile as a killer of cancer cells, a view not accepted by a majority of scientists.[2][3] He has also promoted the Durupınar site as hosting the original Noah’s ark, against skeptics as well as near-Ararat Creationists. He has opposed the Federal Reserve since the 1960s, saying it constitutes a banking cartel and an instrument of war and totalitarianism.[4] In 2002, Griffin founded the individualist network Freedom Force International. …”

http://en.wikipedia.org/wiki/G._Edward_Griffin

Interview with G. Edward Griffin, Author of ‘The Creature from Jekyll Island’

(Secretive Creation of the Federal Reserve System)

Interview by Victor Thorn & Lisa Guliani

 

“…Victor Thorn: Let me ask you this question: I was talking to an economist the other day and I asked him a fairly vague question: “How close or how realistic is the possibility that the bottom could really drop out of our economy?” He said it is, in fact, a real possibility. What are your views on that?

G. Edward Griffin: My view on that is kind of complicated. First of all, as I said in my book, I believe that what is happening to our monetary system is disastrous to the future of the country. It’s a disaster to the monetary system. I don’t see how it could survive without falling apart. It’s a disaster to the freedom issue. I don’t see how people can continue to have this system and maintain their personal freedoms. I’m really alarmed about that. I believe that sooner or later, the bubble has to burst. Now, let me qualify that by saying – and I think I said this in the book – there is one condition under which we would not have a collapse of the monetary system. That would be a condition in which no one would dare say that we had one. In other words: totalitarianism. If we had no freedom of speech, no freedom in the marketplace, no freedom to buy or sell as we wished, then all of the forces of supply and demand would be paralyzed. Under those conditions, there would be no collapse of the monetary system.

There would just be slavery. And what concerns me is we may be moving into that scenario. I believe, for example, that the Federal Reserve is manipulating the market. I’m convinced that there are mechanisms they are using. They’re using the hidden taxation of inflation, and the creation of money out of nothing to sustain the stock market to create the ILLUSION of continued prosperity. That is a terrible thing, when you can intervene in the free market like that and literally paralyze it. So what I’m concerned about is that we are moving very close into a condition where it might be comparable to the Soviet Union twenty years ago. If we had lived in the Soviet Union twenty years ago, no one would have said that they were having economic problems because the official line from the state was “everything is improving”. They had five-year plans, ten-year plans, everything’s on target, employment is up, prosperity is up; the value of the rouble is up. All the official pronouncements were positive and nobody DARED say that they were lies. I think we’re coming to the point – if we aren’t there already – where we’re looking that kind of a thing smack in the face. …”

http://www.whale.to/b/griffin3.html

John Birch Society

“The John Birch Society is a political education and action organization founded by Robert W. Welch Jr. in Indianapolis, Indiana in 1958. The society supports traditionally conservative causes such as anti-communism, support for individual rights, and the ownership of private property.[1] It promotes U.S. independence and sovereignty and opposes globalism and international regional groups, such as the European Union, or a proposed North American Union.[2]

The Society is on the right of the American political spectrum. [3][4] Its website states: “In the United States, however, a conservative is one who seeks to support and retain the traditional institutions of the U.S. government, including the rule of law under the Constitution, and the political doctrines of individual rights and freedom as espoused by the Founding Fathers.” [5]

The society was named after John Birch, a United States military intelligence officer and Baptist missionary in World War II, who was killed in 1945 by supporters of the Communist Party of China.[6] Birch’s parents joined the society as life members. [7]

Based in Appleton, Wisconsin, the society has local chapters in all 50 states. Its stated aim is to achieve “Less Government, More Responsibility, and — With God’s Help — a Better World.”[1] The society operates the wholly-owned corporation American Opinion Publishing, which changed its name from John Birch Publishing in 1994 and publishes the journal The New American.[8]

The John Birch Society says it is anti-totalitarian, particularly anti-socialist and anti-communist, and leans to libertarian. It seeks to limit the powers of government and defends what it sees as the original intention of the U.S. Constitution, based on Judeo-Christian principles. It opposes collectivism, including wealth redistribution, economic interventionism, socialism, communism, and fascism. In a 1983 edition of Crossfire, Congressman Larry McDonald (D-Georgia), then its newly appointed chairman, characterized the Society as belonging to the Old Right, rather than the new right.[9]

The John Birch Society opposed aspects of the Civil Rights Movement in the 1960s because of its concerns that the movement had communists in important positions. The Society opposed the 1964 Civil Rights Act, saying it was in violation of the Tenth Amendment to the United States Constitution and overstepped the rights of individual states to enact laws regarding civil rights.

The Society is against a unified “one world government”, and has an immigration reduction view on immigration reform. It opposes the United Nations, the North American Free Trade Agreement (NAFTA), the Central America Free Trade Agreement (CAFTA), the Free Trade Area of the Americas (FTAA), and other free trade agreements.

The Society argues that there is a devaluing of the US Constitution in favor of international government, and that this is not an accident. It cites David Rockefeller’s 2002 autobiography Memoirs in which Rockefeller writes, “Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure — one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.”[10] …”

http://en.wikipedia.org/wiki/John_Birch_Society

Rare year 1982 video with G. Edward Griffin & Norman Dodds#1

1982 Edward Griffin interviews Norman Dodds (Rare) part 2

 

1982 Edward Griffin interviews Norman Dodds (Rare) part 3

 

1982 Edward Griffin interviews Norman Dodds (Rare) part 4

 

1982 Edward Griffin interviews Norman Dodds (Rare) part 5

 

1982 Edward Griffin interviews Norman Dodds (Rare) part 6

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The Truth President Obama: You Are Spending And Taxing The United States Into Radical Socialism And Bankruptcy!

Posted on March 25, 2009. Filed under: Blogroll, Books, Communications, Economics, Employment, Energy, Investments, Links, People, Philosophy, Politics, Quotations, Raves, Regulations, Resources, Taxes, Uncategorized, Video | Tags: , , , , , |

Obama Spends Recklessly

 red_socialism

 

Obama administration breaking the law


 

Summary of Americas Current Economic Condition

U.S. – A Nation of Debt

US National Debt Clock

http://www.brillig.com/debt_clock/

 

President Obama’s  2010 Budget Projected 

Budget Deficits

National Debt Increases

 2010_budget_-_deficit_and_debt_increases1

http://upload.wikimedia.org/wikipedia/en/3/3b/2010_Budget_-_Deficit_and_Debt_Increases.png

 

president_obama_budget_national_debt

http://www.heritage.org/Research/budget/bg2249.cfm

family_spending_per_household

 

Obama forecasts mammoth budget deficit

Among conservatives and libertarians President George W. Bush was a great disappointment in terms of massive budget deficits and running up the National Debt.

However, President Obama’s budget proposals would result in deficits over four times that of President Bush.

Even the Congressional Budget Office is characterizing the deficits as unsustainable.

In order to partially pay for these huge increases in government spending, a new tax on energy is being proposed–the cap and trade tax.

The cap-and-trade energy tax will impact every American that uses electricity, drives a car or truck, or buys goods and services from businesses who use electricity and transportation.

The cap and trade carbon tax’s real purpose is not to stop or mitigate man-made climate change by reducing carbon dioxide emissions.

Carbon dioxide is not a pollutant.

Nor is carbon dioxide or man’s carbon emissions the primary cause or driver of global climate change.

However, that is the story or fraud the radical socialist peddle to the ignorant.

The majority of American  people think it is rubbish.

They will not sit silently by as their electrical bills and gasoline prices rise due to a tax increase.

There will be a tax revolt over any proposed carbon or cap-and-trade tax.

Instead, the new tax will be used to fund a much bigger government and budget for Socialized Medicine, Alternative Energy subsidies for wind and solar power, even more money for education and massive bailouts for failing businesses.

Those who do not pay Federal Income Taxes now will still be hit with higher electricity bills and gasoline prices if the cap and trade  carbon tax is passed.

Furthermore, the deficits will need to be financed by selling Federal Government notes and bills.

This will significantly increase the National Debt from about $11 trillion today  to over $14 trillion by the end of 2012.

No wonder several countries including Communist China have proposed a new international reserve currency to replace the US dollar.

Amazingly the Treasury Secretary, Timothy Geithner, actually said it is an idea worth serious consideration.

President Obama quickly made it known at his press conference that he does not support a global currency.

World Government and New Global Currency – 3.24.2009 – Glenn Beck

Hear The Truth America news: Obama: ‘I don’t support a global currency’

President Obama is wrecking the US economy, destroying  jobs, and devaluing the US dollar, what did you expect from the most inexperienced and first radical socialist to be elected President.

Actually, I was expecting exactly this and tried to warn people about it, few were listening.

Now they are starting to listen and are getting sacred. 

America is turning against Obama

Soon, President Obama , you too will join Prime Minister Brown and become the devalued President of a devalued Government.

Daniel Hannan MEP: The devalued Prime Minister of a devalued Government 

obama_tax_increase

  

Background Articles and Videos

British Political Hero Daniel Hannan Talks with Glenn Beck

 

Deficit Projected To Swell Beyond Earlier Estimates

CBO Expects Trillions More in Borrowing

 

By Lori Montgomery

Washington Post Staff Writer
Saturday, March 21, 2009; Page A01

“…In the first independent analysis of Obama’s budget proposal, the nonpartisan Congressional Budget Office concluded that Obama’s policies would cause government spending to swell above historic levels even after costly programs to ease the recession and stabilize the nation’s financial system have ended.

Tax collections, meanwhile, would lag well behind spending, producing huge annual budget deficits that would force the nation to borrow nearly $9.3 trillion over the next decade — $2.3 trillion more than the president predicted when he unveiled his budget request just one month ago.

Although Obama would come close to meeting his goal of cutting in half the deficit he inherited by the end of his first term, the CBO predicts that deficits under his policies would exceed 4 percent of the overall economy over the next 10 years, a level White House budget director Peter R. Orszag yesterday acknowledged would “not be sustainable.”

The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 — double last year’s level — and threaten the nation’s financial stability.

“This clearly creates a scenario where the country’s going to go bankrupt. It’s almost that simple,” said Sen. Judd Gregg (N.H.), the senior Republican on the Senate Budget Committee, who briefly considered joining the Obama administration as commerce secretary. “One would hope these numbers would wake somebody up,” Gregg said.

In the first independent analysis of Obama’s budget proposal, the nonpartisan Congressional Budget Office concluded that Obama’s policies would cause government spending to swell above historic levels even after costly programs to ease the recession and stabilize the nation’s financial system have ended.

Tax collections, meanwhile, would lag well behind spending, producing huge annual budget deficits that would force the nation to borrow nearly $9.3 trillion over the next decade — $2.3 trillion more than the president predicted when he unveiled his budget request just one month ago.  …”

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/20/AR2009032001820.html

 

The Obama Budget: Spending, Taxes, and Doubling the National Debt
by Brian M. Riedl
Backgrounder #2249

“…During his presidential campaign, President Barack Obama promised the American people a “net spending cut.”1

Instead, he signed a “stimulus” bill that spends $800 billion, and he has proposed a budget that would:

  • Increase spending by $1 trillion over the next decade;
  • Include an additional $250 billion placeholder for another financial bailout;
  • Likely lead to a 12 percent increase in discretion­ary spending;
  • Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over pre-recession levels;
  • Raise taxes on all Americans by $1.4 trillion over the next decade;
  • Raise taxes for 3.2 million taxpayers by an average of $300,000 over the next decade;
  • Call for a pay-as-you-go (PAYGO) law despite offering a budget that would violate it by $3.4 trillion;
  • Assume a rosy economic scenario that few econo­mists anticipate;
  • Leave permanent deficits averaging $600 billion even after the economy recovers; and
  • Double the publicly held national debt to over $15 trillion ($12.5 trillion after inflation).2

Before the recession, federal spending totaled $24,000 per U.S. household. President Obama would hike it to $32,000 per household by 2019— an inflation-adjusted $8,000-per-household expan­sion of government. Even the steep tax increases planned for all taxpayers would not finance all of this spending: The President’s budget would add trillions of dollars in new debt.[1][2] …”

http://www.heritage.org/Research/budget/bg2249.cfm

 

Obama’s budget FOUR TIMES THE DEFICITS OF BUSH

“… President Barack Obama‘s budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush’s presidency, congressional auditors said Friday.

The new Congressional Budget Office figures offered a far more dire outlook for Obama’s budget than the new administration predicted just last month — a deficit $2.3 trillion worse. It’s a prospect even the president’s own budget director called unsustainable.

In his White House run, Obama assailed the economic policies of his predecessor, but the eye-popping deficit numbers threaten to swamp his ambitious agenda of overhauling health care, exploring new energy sources and enacting scores of domestic programs. …”

http://www.ireport.com/docs/DOC-233039

IOUSA part 1 of 8

 

IOUSA part 2 of 8

 

IOUSA part 3 of 8

http://www.youtube.com/watch?v=urd13kgsxs0&feature=related

 

IOUSA part 4 of 8

 

IOUSA part 5 of 8

 

IOUSA part 6 of 8

 

IOUSA part 7 of 8

 

IOUSA part 8 of 8

 

 

Obama’s New Budget Deficit Math
Lee Cary

“…So, President Obama is folding his $1 trillion stimulus package (when you roll in interest) into the ’09 budget deficit and hanging it around the previous administration’s neck. No surprise there. It’ll be positioned as his inheritance.

Let’s look back. Here’s the litany of Bush deficits from 2004-2008:

2004: $412.5 billion
2005: $318.6
2006: $247.7
2007: $162.8
2008: $454.8
Source – The Government Accounting Office (GAO) document, “A Citizens Guide to the 2008 Financial Report of the United States of America: The Federal Government’s Financial Health”

In old math calculations, the total deficit spending from 2004-2008 (the last 5 years of Bush’s second term in office) was $1.596 trillion and change.

At this point, approximately half of the expected (noted in the WaPo article) ’09 deficit of, at least, $2 trillion is additional spending passed under Obama’s watch. If there’s a second stimulus bill and another TARP, that deficit number will grow. A total $3 trillion deficit is not out of the question.

So, being fair (a concept important to the Obama administration), at least half of the eventual ’09 deficit will be owned by President Obama’s administration. So for comparative purposes between administrations’ deficits, ’09, as a bridge year, is a wash. So it’s,

2009: $1 trillion (Obama’s stimulus package with interest), plus $1.2 (Bush’s original deficit)

According to the Washington Post piece, Obama “proposes” to cut the deficit he inherited in half. Let’s add up the numbers for 4 years, as compared to Bush’s 5 years. Fair to the max.

2010: $1 trillion (“hovering near” – isn’t “hovering” almost always above?)
2011: $1 trillion
2012: (No number mentioned, so let’s do blue sky and assume $533 billion)
2013: $533 billion

That’s a total deficit increase during the Obama term of approximately $3.066 trillion. …”

http://www.americanthinker.com/blog/2009/02/obamas_new_budget_deficit_math.html

TESTIMONY

of

Patrick J. Michaels
Professor of Environmental Sciences
University of Virginia,
and Senior Fellow in Environmental Studies at Cato Institute

to the

Subcommittee on National Economic Growth, Natural Resources and Regulatory Affairs
U.S. House of Representatives

Carbon Dioxide: A Satanic Gas?

http://www.cato.org/testimony/ct-pm100699.html

Carbon Dioxide is Our Friend

Global Warming: How Hot Air and Bad Science Will Give You Staggeringly Higher Taxes and Prices.

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The Great Depression and the Current Recession–Robert Higgs–Videos

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It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

Clear, Hold, Build– Strategy for Victory In Iraq–Now Ready for Prime Time in America– Operation Criminal Alien Removal (CAR)!

 2008 Presidential Choice: Leader or Diletant–McCain or Obama 

Presidential Election 2008: American Elites Vs. American People

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

John McCain’s Position on Illegal Immigration and Criminal Alien Removal? 

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos 

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

 

 

Budget of the United States Government

Fiscal Year 2010The Budget Documents

http://www.whitehouse.gov/omb/budget/

 

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AIG–Follow The Money Trail–Bailing Out Business Buddies–Corrupt Crony Radical Socialism

Posted on March 25, 2009. Filed under: Blogroll, Economics, Employment, Investments, Law, Links, Politics, Quotations, Rants, Raves, Regulations, Taxes, Video | Tags: , , , , , , , , , , , , , , |

 AIG Bonuses

A Big Distraction From Political Money Laudering and The Federal Reserve Monetarization of Debt!

 political_corruption

  

money-laundering

Glenn Beck – Congress Abusing their Authority & Showing Favortism to Fannie Mae

 

Kudlow: Geithner Gone After AIG Bonusgate? — 3.17.09

 

  

Levin on Obama’s AIG Campaign Donations 3-19-09

 

Levin on Barney Frank

 

Mark Levin On AIG Bonuses And Liberal Hypocrisy Part 1 Of 4

 

Mark Levin On AIG Bonuses And Liberal Hypocrisy Part 2 Of 4

 

Mark Levin On AIG Bonuses And Liberal Hypocrisy Part 3 Of 4

 

Mark Levin On AIG Bonuses And Liberal Hypocrisy Part 4 Of 4

 

The Democratic Party and President Obama are bailing out their major campaign contributors on Wall Street and Main Street including the executives of Goldman Sachs, Citigroup, JP Morgan Chase, Bank of America, Wachovia and AIG just to name a few.

Top Contributors

“…This table lists the top donors to this candidate (Obama) in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates.

University of California $1,385,675

Goldman Sachs $980,945

Microsoft Corp $806,299

Harvard University $793,460

Google Inc $790,564

 Citigroup Inc $657,268

 JPMorgan Chase & Co $650,758

Stanford University $580,904

Sidley Austin LLP $574,938

Time Warner $547,951

National Amusements Inc $541,251

 WilmerHale $524,292

 UBS AG $522,019

IBM Corp $518,557

Skadden, Arps et al $510,274

Columbia University $503,566

 Morgan Stanley $490,873

US Government $479,956

General Electric $479,454

Latham & Watkins $467,311 …”

 http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

Matching the companies that have received Troubled Asset Relief Program or TARP money with the executives of the companies that contributed to both the Obama and Democratic Party and the amounts results in many matches. Instead of forcing failing companies or banks to go into bankruptcy, liquidation or be bought  by a successful company, the political class is bailing out their financial friends–corrupt crony capitalism–no–corrupt radical socialism.

The good banks are telling the Federal Government take your money back and leave us alone.

Many banks were forced to take the TARP money even thought they did not need nor want the money!

 

TCF Bank Gives Back TARP Money

   

The politicians are hypocrites and corrupt to the core.

Hang the politicians high for all to see!

Forget about the bonuses, focus on who AIG in turn sent to the bailout money to meet AIG’s contracts with them and the amounts:

  • Goldman Sachs:                                         $   12,900,000,000 or $12.9 billion
  • Merril Lynch:                                             $    6,800,000,000 or $6.8 billion
  • Bank of America:                                        $    5,200,000,000 or $5,2 billion
  • Citi Group:                                                $    2,300,000,000 or $2.3 billion
  •  Wachovia                                                $    1,500,000,000 or $ 1.5 billion
  • Société Générale of France            nearly  $   12,000,000,000 or $12 billion
  • Deutsche Bank of Germany            nearly  $   12,000,000,000 or $12 billion
  • Barclays of Britain                                   $     8,500,000,000 or $8.5 billion
  • UBS of Switzerland                                  $     5,000,000,000 or $5 billion

Glenn Beck exposes huge ACORN cover-up – the leftists are distracting you, folks…

youtube=http://www.youtube.com/watch?v=UfRkhD85BBI&hl=en&fs=1]

 

Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

Then focus on the what the political elites really do not want you to understand and care about: 

The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

The Federal Reserve by significantly increasing the money supply runs the real risk of causing a significant increase in the general price level or inflation–a tax increase–that reduces the purchasing power of your money holdings.

LOL

 

Obama: It took us a couple of days because I like to know what I’m talking about before I speak

The Puppet President Pinocchio’s  nose and ears just grew another inch:

 

Barack Obama America’s Puppet President Pinocchio –The Transparent Lies–Ears and Nose Are Growing?

 

Background Articles and Videos

 

Follow the Bailout Cash

By Michael Isikoff and Dina Fine Maron  

“…While a few big firms, such as Wells Fargo and JP Morgan Chase, have curtailed their campaign giving, others are quietly doling out cash to select members of Congress, particularly those who serve on committees that oversee TARP. In recent filings with the Federal Election Commission, the political action committee for Bank of America (which got $15 billion in bailout money) sent out $24,500 in the first two months of 2009, including $1,500 to House Majority Leader Steny Hoyer and another $15,000 to members of the House and Senate banking panels. Citigroup ($25 billion) dished out $29,620, including $2,500 to House GOPWhip Eric Cantor, who also got $10,000 from UBS which, while not a TARP recipient, got $5 billion in bailout funds as an AIG “counterparty.” “This certainly appears to be a case of TARP funds being recycled into campaign contributions,” says Brett Kappell, a D.C. lawyer who tracks donations. (A spokesman for Cantor did not respond to requests for comment. A spokeswoman for Hoyer said it’s his “policy to accept legal contributions.”) …”

http://www.newsweek.com/id/190363  

 

Critics Got Donations From Insurer

Obama and Dodd Raised Money From the Firm for Presidential Campaigns

“…When Mr. Dodd was raising funds from AIG, his donor list included some executives from the company’s financial-products division that created the instruments that brought billions of dollars in losses to the company and led to its collapse.

A few weeks before Mr. Dodd formally announced that he was running for the Democratic nomination, 33 employees of AIG’s financial-products division each contributed $2,100 to his presidential account, or $69,300 total, according to Federal Election Commission records.

In March 2007, Mr. Dodd’s campaign paid $250 to the financial-products unit in Wilton, Conn., for a “room rental fee.” Such itemizations typically are associated with fund-raising events.

AIG has run one of the largest political-influence operations in Washington in the past decade. The company has spent $72.6 million to lobby Congress and the administration since 1998, making it one of the top lobbying spenders among corporations, according to public records.

In October, after it received government funding to stay afloat, AIG said it would stop lobbying Congress and the Obama administration. Campaign donations dried up at the same time.

AIG has made $9.3 million in donations since 1989, placing it among the top 100 sources of campaign donations during that period, according to the Center for Responsive Politics. In addition, FEC records show that the company has hosted dozens of fund-raising events for lawmakers. …”

http://online.wsj.com/article/SB123742426774379307.html

 

Did Campaign Cash Influence Bailout? Banks Get 258,000 Percent Return from Investments in D.C. Pols.

“…His anger seems real enough. But the stench of hypocrisy reeks up the room every time he forgets to mention the hundreds of thousands of dollars he received in 2008 as campaign donations from these same banks, their management and employees—currently now under receivership of the U.S. taxpayer.

But Sen. Dodd is not alone. He and the biggest names in American politics, including President Barack Obama, are quickly becoming poster children for “moral hazard” and pay-to-play politics. Slap-dash legislation with little or no oversight, by the Bush Administration, rubber-stamped by top Democratic politicians, seems to have made problems worse, not better. Banks are hoarding bailout money, and its not getting down to consumers.

Dodd’s Senate committee—arguably one of the most powerful–created and oversees the Troubled Asset Relief Program (TARP)—the $700 billion dollar bailout of financial institutions—caught up in the sub-mortgage meltdown.

From all indications and reports, TARP has been universally acclaimed a failure-in-progress and bad news reports have angered large cross sections of America. Dodd and his committee seem powerless to reign in the titans of American finance and industry—despite widespread capital infusions from Congress. Unemployment is moving towards double digits and banks haven’t begun to unfreeze consumer credit, although a moratorium on mortgage foreclosures was set in place.

But the Senior Senator from Connecticut who said he personally turned a four-page draft into 80-plus pages of legislation that was passed, has crossed an ethical line. While he was crafting legislation to rescue his friends, Dodd “received $854,200 from the T.A.R.P. companies in the 2008 election cycle, including money to his presidential campaign” according to a recent Center for Responsive Politics (CRP) report. …”

 

“…According to the C.R.P. report, Sen. Chris Dodd received $854,200 from various financial groups, including $570,294 from commercial banks in the 07-08’ election cycle.

-Speaker of House Nancy Pelosi received a paltry $15,600 from JPMorgan/Chase, $11,000 from both Citigroup and Goldman Sachs.

-Sen. Majority Leader Harry Reid received $71,500 in from JPMorgan/Chase and $47,350 from Citigroup.

-Alabama Sen. Dick Shelby who sits on the Senate Banking Committee got $91,200 from his top contributor; Citigroup, and $66,500 from JP Morgan/Chase.

-Senior Illinois Sen. Dick Durbin got $46,575 from Citigroup and $19,500 from Goldman Sachs.

-New York Sen. Chuck Schumer raked in $80,800 from Citigroup, $58,000 from Goldman Sachs, $57,000 from Morgan Stanley, $53,750 from Lehman, $50,250 from Merrill Lynch, $47,800 from JP Morgan Chase—raised over $1 million from Securities and Investment firms.

-Sen. Minority Leader Republican John Boehner got $14,300 from Morgan Stanley and $12,000 from Goldman Sachs.

These where the same people—our legislators and leadership who were charged with giving a blank check of $700 billion to companies who were funding their re-election campaigns. Can you spell conflict of interest? By rights lawmakers, including all Presidential campaigns–should return any money received from employees and management of these failed corporations they are legally responsible to regulate. …”

http://www.kctribune.com/article.cfm?articleID=18675

 

AIG Gives $644,000 in ‘Campaign Bonuses’ to U.S. Senators and Representatives According to The O’Leary Report

“…As President Barack Obama and Senator Chris Dodd (D-CT) continue to point fingers over which one of them is to blame for the stimulus bill’s “Dodd Amendment,” which specifically excludes bonuses from caps on executive pay, one thing is clear: both Obama and Dodd profited from AIG campaign “bonuses” and an overwhelming majority of Americans want them to give this money back.
According to a breaking poll conducted by The O’Leary Report and Zogby International, 73 percent of Americans think any members of Congress who received campaign contributions from AIG over the last two years should return the money.
This might go double for President Obama and Senator Dodd, who were by far the largest recipients of AIG campaign cash in the last election cycle. According to the Center for Responsive Politics, Obama received $104,332 from AIG and Dodd raked in $103,900. Obama and Dodd far outpaced the rest of Congress, as the next largest beneficiary received about $45,000 less than each of them. All told, AIG gave a total of $644,218 to federal candidates over the last election cycle. …”

http://www.smartmoney.com/news/pr/?story=PR-20090325-000143-0546

Cronyism

“…Cronyism is partiality to long-standing friends, especially by appointing them to positions of authority, regardless of their qualifications. Hence, cronyism is contrary in practice and principle to meritocracy. Cronyism exists when the appointer and the beneficiary are in social contact; often, the appointer is inadequate to hold his or her own job or position of authority, and for this reason the appointer appoints individuals who will not try to weaken him or her, or express views contrary to those of the appointer. Politically, “cronyism” is derogatorily used. The word “crony” first appeared in 18th century London, believed by many to be derived from the Greek word χρόνιος (chronios), meaning “long-term”, however, crony appears in the 1811 edition of Grose’s Vulgar Tongue with a decidedly non-collegiate definition, placing it firmly in the cant of the underworld.[1] A less likely source is the Irish Language term Comh-Roghna (pron. ko-ronə), which translates to “close pals”, or mutual friends.

Governments are particularly susceptible to accusations of cronyism, as they spend public money. Many democratic governments are encouraged to practice administrative transparency in accounting and contracting, however, there often is no clear delineation of when an appointment to government office is “cronyism”. It is not unusual for a politician to surround him- or herself with highly-qualified subordinates, and to develop social, business, or political friendships leading to the appointment to office of friends, likewise in granting government contracts. In fact, the counsel of such friends is why the officeholder successfully obtained his or her powerful position — therefore, cronyism usually is easier to perceive than to demonstrate and prove.

In the private sector, cronyism exists in organizations, often termed ‘the old boys club’ or ‘the golden circle’, again the boundary between cronyism and ‘networking’ is difficult to delineate.

Moreover, cronyism describes relationships existing among mutual acquaintances private organizations where business, business information, and social interaction are exchanged among influential personnel. This is termed crony capitalism, and is an ethical breach of the principles of the market economy; in advanced societies, crony capitalism is a breach of market regulations, e.g. the Enron fraud is an extreme example of crony capitalism.

Given crony capitalism’s nature, these dishonest business practices are frequently (yet not exclusively) found in societies with ineffective legal systems. Resultantly, there is an impetus upon the legislative branch of a government to ensure enforcement of the legal code capable of addressing and redressing private party manipulation of the economy by the involved businessmen and their government cronies.

The economic and social costs of cronyism are paid by society. In the form of reduced business opportunity for the majority of the population, reduced competition in the market place, inflated consumer goods prices, decreased economic performance, inefficient business investment cycles, reduced motivation in affected organizations, and the diminution of economically productive activity. A practical cost of cronyism is manifest in the bad workmanship of public and private community projects. Cronyism is self-generating, cronyism then begets a culture of cronyism. This can only be apprehended by a comprehensive, effective, and enforced legal code, and empowered government agencies who can effect prosecutions in the courts.

All appointments that are suspected of being cronyism are controversial. The appointed party may choose to either suppress disquiet or ignore it, depending upon the society’s level of freedom of expression and individual personal liberty.

Some instances of cronyism are readily transparent. As to others, it is only in hindsight that the qualifications of the alleged “crony” must be evaluated. …”

http://en.wikipedia.org/wiki/Croneyism 

 

Bundlers

Bundlers are people with friends in high places who, after bumping against personal contribution limits, turn to those friends, associates, and, well, anyone who’s willing to give, and deliver the checks to the candidate in one big “bundle.”

Even though these donors direct more money to the candidates than anyone else, disclosure can be spotty, with Obama and McCain posting bundlers by ranges, indicated in this chart with the “max” and “min” columns, and with the top ranges being simply “$500,000 or more.” Together, 540 elites have directed at least $207,200,000 to McCain, and 561 have gathered at least $63,200,000 for Obama.

Top Industries of Obama Bundlers
Sector Min. Raised # of Bundlers
Lawyers/Law Firms $12,600,000 97
Securities & Investment $8,250,000 61
TV/Movies/Music $3,200,000 20
Business Services $2,400,000 19
Real Estate $2,050,000 20

The “08 Contribs” column indidates the total amount the bundler, their spouse and dependent children have given to all federal candidates, parties and PACs this election cycle.

 

http://www.opensecrets.org/pres08/bundlers.php?id=N00009638

 

Tracking the $700 Billion Bailout

By MATTHEW ERICSON, ELAINE HE and AMY SCHOENFELD

“…Hundreds of banks and a handful of insurers and automakers have applied for funds from the Treasury Department as part of the $700 billion Troubled Asset Relief Program. The Treasury Department has transferred capital to the majority of these companies. …” 

http://projects.nytimes.com/creditcrisis/recipients/table

 

The Center for Responsive Politics

http://www.opensecrets.org/index.php

 

Putting on a great show: Kabuki in the House; Update: 328-93, 90 percent bonus tax passes

By Michelle Malkin  

“…Scroll for updates…

If you haven’t been watching the AIG bonus debate in the House, you really should tune in.

Barney Frank is shrieking. Jumping up and down over parliamentary procedure. Blaming Bush, Bush, Bush, and then attacking GOP for “partisan attacks.”

John Boehner just finished statement: “Are you kidding me? This is joke. Vote no.”

Very effective: Almost all House GOP members have text of Dodd/Treasury/Obama AIG bonus protection clause on paper or in poster board home.

Frank has no response but to blubber.

Hensarling: “What we have here is a legislative cover-up. The Democrats could have prevented this. All of sudden, the [bonus protection] appeared and it has no parents…Here’s a newsflash: No more federal money, AIG, until bonsues are repaid. What happened to the most open, honest Congress in the history of America?” …”

http://michellemalkin.com/2009/03/19/putting-on-a-great-show-kabuki-in-the-house/

 

First, they came for AIG bonuses

By Michelle Malkin

“…The House is set to vote today on the retroactive, confiscatory 90 percent tax on bailout-funded bonuses. Lawmakers say the tax will apply to Fannie/Freddie bonuses. But who knows what the hell will end up in this Chicken Little measure:

The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.

“We figured that the local and state governments would take care of the other 10 percent,” said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee.

Rangel said the bill would apply to mortgage giants Fannie Mae and Freddie Mac, among others, while excluding community banks and other smaller companies that have received less bailout money…The top two members of the Senate Finance Committee on Tuesday announced a bill that would impose a 35 percent excise tax on the companies paying the bonuses and a 35 percent excise tax on the employees receiving them. The taxes would apply to all companies receiving government bailout money, but they are clearly geared toward AIG.

The NYPost rightly warns that such politically expedient power grabs are courting catastrophe: …”

http://michellemalkin.com/2009/03/19/first-they-came-for-aig-bonuses/

 

The Senate shows a little sense; confiscatory Republicans show no shame

By Michelle Malkin  

“…Cooler heads have prevailed in the U.S. Senate and in this particular case, it is a good thing.

The Senate took its role as a deliberative body seriously and has buried the demagogic, backside-covering corporate bonus tax bill passed last week by the House. They’ve kicked the can down the road.

The Hill reports:

President Obama and Senate Democrats have buried a bill passed last week by the House that would have heavily taxed executive bonuses at bailed-out firms.

Despite the public outcry over $165 million in bonuses awarded at troubled insurer AIG, Senate Majority Leader Harry Reid (D-Nev.) showed little inclination Monday to bring the explosive issue to the floor this week or next. Instead, Reid is likely to delay action on executive compensation until late April, after the Senate returns from a two-week recess starting April 4…

…Senate Republican Whip Jon Kyl (Ariz.) said there is very little chance the Senate will act this week to recoup bonuses passed out at AIG and other corporations receiving bailout funds.

I still have seen very little questioning of the 85 Grabby Hands House Republicans, led by minority whip Eric Cantor, who went along with this abomination. How can they be trusted not to lose their heads when the next Kabuki outrage comes along? How can they be counted on to resist
the next confiscatory scheme down the road — say, this one? …”

http://michellemalkin.com/2009/03/24/the-senate-shows-a-little-sense-confiscatory-republicans-show-no-shame/

 

Related Posts On Pronk Palisades

Creature from Jekyll Island: The Federal Reserve System–Videos

Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

One Big Awful Mistake America (OBAMA): Veterans Will Now Lead The Fight To Defeat Radical Socialism!

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

Radical Welfare Socialism Assaults Free Enterprise Capitalism–The “Silent” Majority Responds!

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009!

Tea Parties Take Off In Texas–Spreading Nationwide–Are You Going To Washington Fair? Millions Celebrate The Second American Revolution–Saturday, July 4, 2009

Operation Family Freedom (OFF): Millions Celebrate Washington Fair, Saturday, July 4, 2009–The Second American Revolution 

President Obama Is Driving The American People Down The Highway to Socialism and Serfdom–Stop The Bus!

The Signed “Stimulus Package” Did Not Include Funding for E-Verify and Border Fence Construction–Less Jobs And Security for American Citizens

Inside the Meltdown: Who Was Withdrawing From Money Market Funds On September 16-18, 2008 and Why?

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Pattern Recognition: The Template Is Hitler’s Rise To Power Using National Socialism

Censorship Commissar for AM and Internet Talk Radio–Henry Waxman–The Face of Progressive Liberal Fascism!

President Obama’s–Recovery Accountability and Transparency Board–RAT Board–King Rat’s Chicago Corruption–The Fix is In The Stimulus Bill!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously! 

President Obama’s Sales Pitch–Buy My Government Dependency Package–I Won The Election!–No Sale–The American People Want Their Money Back!

President Barack Obama Peddling The Government Dependency Package (GDP) and Fear Mongering The Raw Deal!

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BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

 

 

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Geithner’s Government Gamble–Vampire Vulture Ventures–Heads The Vermin Win–Tails The American People Lose!

Posted on March 24, 2009. Filed under: Blogroll, Communications, Economics, Homes, Investments, Law, Links, Music, Politics, Quotations, Rants, Regulations, Resources, Taxes, Video | Tags: , , , , , , , , , , , , , , , , |

Gladys Knight & The Pips – If I were Your Woman

sunset

chrislee

black_vulture1

 Vampire

Vulture

Ventures

 

turf_house1

 

 

A CFR Conversation with Timothy F. Geithner

Tim Geithner’s Toxic Asset Plan

 

In-Depth Look – Geithner’s Plan – Bloomberg

 

In-Depth Look – Treasury Plan – Bloomberg

 

In-depth Look – Geithner Plan Needs Details – Bloomberg

 

Wall Street On Geithner’s Plan – Bloomberg

 

The F Word: How About Breaking The Banks?

 

Mar 24 ’09 The Geithner Plan: How it works and a great discussion follows

 

DN! Paul Krugman (1\2) on $1 Trillion Geithner Plan to Buy Toxic Bank Assets

 

In-Depth Look – Toxic Assets – Bloomberg

3-24-2009 – Pence discusses AIG and the Geithner plan on MSNBC

 

Geithner Plan is a joint venture  between the Federal Government or Vampire and a private investor or Vulture to buy “toxic”  or “trouble assets”  now called ” legacy loans and securities ” –just call it Vampire Vulture Ventures. The official label is a Public Private Investment Program (PPIP), hence the reference to the Pips as in Gladys Knight and the Pips. 

Who wants the Federal Government as a partner even if they are putting up half the money?

Vulture investors–greedy risk taking bastards with money–capitalists!

The real problem is the bad banks get bailedout by getting the ” legacy loans and securities ” off their books, while the American people or taxpayers pay for any losses.

The banks made highly leveraged bad investments and lost. 

The American people should not be placed in a position of making them whole.

Instead the banks should be closed, no matter how big they are.

The price of failure should be FDIC receivership and not another bailout.

Take the big bad banks over, bring in new management and try to sell the bank to another buyer–FDIC Receivership.

 

Geithner’s Plan “Extremely Dangerous,” Economist Galbraith Says

 

Geithner’s Plan “Extremely Dangerous,” Economist Galbraith Says

 

Survival of The Fittest–Liquidate the Losers.

Your Bank Has Failed

 

Put a stake in the heart of the Vampire.

No more bailouts.

 

 

Let the Vultures invest 100% of their own money and feed on the carcass.

Vampire Vulture Ventures–Dead On Arrival! 

Good-bye Geithner and good riddance.

Jim Rogers was right about Geithner.

Jim Rogers On Geithner

 

President Obama made his first big mistake when he selected him as Treasury Secretary and then kept him.

 

Obama Defends Geithner

 

It will only be a matter of time before President Obama will throw Tim Geithner under the bus.

 

“NEITHER ONE OF US” EMPRESS OF SOUL GLADYS KNIGHT & THE PIPS

 

 

 Background Articles and Videos

My Plan for Bad Bank Assets

The private sector will set prices. Taxpayers will share in any upside

“…Today, we are announcing another critical piece of our plan to increase the flow of credit and expand liquidity. Our new Public-Private Investment Program will set up funds to provide a market for the legacy loans and securities that currently burden the financial system.

The Public-Private Investment Program will purchase real-estate related loans from banks and securities from the broader markets. Banks will have the ability to sell pools of loans to dedicated funds, and investors will compete to have the ability to participate in those funds and take advantage of the financing provided by the government.

The funds established under this program will have three essential design features. First, they will use government resources in the form of capital from the Treasury, and financing from the FDIC and Federal Reserve, to mobilize capital from private investors. Second, the Public-Private Investment Program will ensure that private-sector participants share the risks alongside the taxpayer, and that the taxpayer shares in the profits from these investments. These funds will be open to investors of all types, such as pension funds, so that a broad range of Americans can participate.

Third, private-sector purchasers will establish the value of the loans and securities purchased under the program, which will protect the government from overpaying for these assets.

The new Public-Private Investment Program will initially provide financing for $500 billion with the potential to expand up to $1 trillion over time, which is a substantial share of real-estate related assets originated before the recession that are now clogging our financial system. Over time, by providing a market for these assets that does not now exist, this program will help improve asset values, increase lending capacity by banks, and reduce uncertainty about the scale of losses on bank balance sheets. The ability to sell assets to this fund will make it easier for banks to raise private capital, which will accelerate their ability to replace the capital investments provided by the Treasury. …”

http://online.wsj.com/article/SB123776536222709061.html#mod=rss_opinion_main

 

Grasping Reality with Both Hands

The Semi-Daily Journal of Economist Brad DeLong: A Fair, Balanced, Reality-Based, and More than Two-Handed Look at the World

“… The Geithner Plan FAQ

 

Q: What is the Geithner Plan?

A: The Geithner Plan is a trillion-dollar operation by which the U.S. acts as the world’s largest hedge fund investor, committing its money to funds to buy up risky and distressed but probably fundamentally undervalued assets and, as patient capital, holding them either until maturity or until markets recover so that risk discounts are normal and it can sell them off–in either case at an immense profit.

Q: What if markets never recover, the assets are not fundamentally undervalued, and even when held to maturity the government doesn’t make back its money?

A: Then we have worse things to worry about than government losses on TARP-program money–for we are then in a world in which the only things that have value are bottled water, sewing needles, and ammunition.

Q: Where does the trillion dollars come from?

A: $150 billion comes from the TARP in the form of equity, $820 billion from the FDIC in the form of debt, and $30 billion from the hedge fund and pension fund managers who will be hired to make the investments and run the program’s operations.

Q: Why is the government making hedge and pension fund managers kick in $30 billion?

A: So that they have skin in the game, and so do not take excessive risks with the taxpayers’ money because their own money is on the line as well.

Q: Why then should hedge and pension fund managers agree to run this?

A: Because they stand to make a fortune when markets recover or when the acquired toxic assets are held to maturity: they make the full equity returns on their $30 billion invested–which is leveraged up to $1 trillion with government money. …”

http://delong.typepad.com/sdj/2009/03/the-geithner-plan-faq.html

 

Paul Krugman

More on the bank plan

“…But if you think that the banks really, really have made lousy investments, this won’t work at all; it will simply be a waste of taxpayer money. To keep the banks operating, you need to provide a real backstop — you need to guarantee their debts, and seize ownership of those banks that don’t have enough assets to cover their debts; that’s the Swedish solution, it’s what we eventually did with our own S&Ls.

Now, early on in this crisis, it was possible to argue that it was mainly a panic. But at this point, that’s an indefensible position. Banks and other highly leveraged institutions collectively made a huge bet that the normal rules for house prices and sustainable levels of consumer debt no longer applied; they were wrong. Time for a Swedish solution.

But Treasury is still clinging to the idea that this is just a panic attack, and that all it needs to do is calm the markets by buying up a bunch of troubled assets. Actually, that’s not quite it: the Obama administration has apparently made the judgment that there would be a public outcry if it announced a straightforward plan along these lines, so it has produced what Yves Smith calls “a lot of bells and whistles to finesse the fact that the government will wind up paying well above market for [I don't think I can finish this on a Times blog]” …”

 

http://krugman.blogs.nytimes.com/2009/03/21/more-on-the-bank-plan/

 

Geithner’s gamble

Goh Eng Yeow on the latest US plan to manage toxic bank assets.

 
“…Instead of handling the problem all by itself, the government wants to set up a 50-50 joint venture with a private investor in which each party would take $5 million of the doubtful debt.The JV then goes to a government agency (the Federal Deposit Insurance Corporation) to borrow the remaining $90 million.

The bank gets its $100 million back while the JV becomes the owner of the doubtful debt.

But here is the catch: If the doubtful debt cannot turn “good” and turns bad, with the borrower refusing to pay a single cent at all, all the JV will lose is the $10 million. It will not have to repay the $90 million loan it owes the FDIC.

It is a “heads you win tails I lose” situation for the pension funds and insurance firms if they come up with the small outlay to participate in Tim Geithner’s programme.

Most borrowers would love to be in such a situation – you get to keep the money you make, but the bank takes the bulk of any losses you may incur.

But doesn’t it remind you of the mess which caused the the world to plunge into this credit crunch crisis in the first place? …” 

http://blogs.straitstimes.com/2009/3/24/geithner-s-gamble 

 

Geithner’s Gamble

“…What needs to be done?

At the kernel of the credit crisis are hundreds of billions of dollars of unsuitable mortgages handed out to subprime borrowers in 2005, 2006 and 2007. These loans, parcelled up into mortgage-backed securities and derivatives called collateralised debt obligations, are already going sour in large numbers, as borrowers default and their foreclosed homes are dumped on the market at low prices.

Investors have shunned these securities and derivatives for more than 18 months now, fearful that the US housing market will keep getting worse. When these assets do sell, it is at depressed prices, far below face value. Banks, believing that the housing market will eventually stabilise and most borrowers will not default, do not want to sell in these circumstances.

A similar stalemate has been reached in the market for commercial mortgages and other types of credit derivatives, such as parcels of credit card loans. In all, perhaps $2 trillion of impaired assets is sitting on bank balance sheets. The government hopes that offering taxpayer money to buy them will kickstart the frozen markets and restore confidence more widely. …”

http://www.istockanalyst.com/article/viewiStockNews/articleid/3141768

 

Geithner’s Plan “Extremely Dangerous,” Economist Galbraith Says

 

“…In short, because the plan is yet another massive, ineffective gift to banks and Wall Street. Taxpayers, of course, will take the hit
Why does Tim Geithner keep repackaging the same trash-asset-removal plan that he has been trying to get approved since last fall?

In our opinion, because Tim Geithner formed his view of this crisis last fall, while sitting across the table from his constituents at the New York Fed: The CEOs of the big Wall Street firms. He views the crisis the same way Wall Street does–as a temporary liquidity problem–and his plans to fix it are designed with the best interests of Wall Street in mind.

If Geithner’s plan to fix the banks would also fix the economy, this would be tolerable. But no smart economist we know of thinks that it will.

We think Geithner is suffering from five fundamental misconceptions about what is wrong with the economy. Here they are:

The trouble with the economy is that the banks aren’t lending. The reality: The economy is in trouble because American consumers and businesses took on way too much debt and are now collapsing under the weight of it. As consumers retrench, companies that sell to them are retrenching, thus exacerbating the problem. The banks, meanwhile, are lending. They just aren’t lending as much as they used to. Also the shadow banking system (securitization markets), which actually provided more funding to the economy than the banks, has collapsed.

The banks aren’t lending because their balance sheets are loaded with “bad assets” that the market has temporarily mispriced. The reality: The banks aren’t lending (much) because they have decided to stop making loans to people and companies who can’t pay them back. And because the banks are scared that future writedowns on their old loans will lead to future losses that will wipe out their equity. …” 

 http://www.thetreeofliberty.com/vb/showthread.php?p=490493

 

Gibbs on Geithner: “Uhhhh….uhhhh…uhhh”

By Michelle Malkin  

“…The Robert Gibbs Live Comedy Hour WH press briefing is on. Press corps is actually pressing Gibbs on Tim Geithner.

A journo asked Gibbs about the Geithner date discrepancies (March 10? March 3?) Gibbs replied, and I quote: “Uhhh…uhhhh…uhhh…uhhh.”

After having made snarky remarks about “his friends on cable TV” in response to a question about Obama’s rotten week, Gibbs then dismissed Geithner questions by offering to give one of the questioning journalists a dollar to read the latest newspaper accounts of the actual chronology today.

Another journo asked why Gibbs himself used the erroneous March 10 date that Geithner is sticking to even now despite the House hearing video that exposes that lie.

More deflection and uhhhs.

It’s all cable television’s fault! …”

http://michellemalkin.com/2009/03/20/gibbs-on-geithner-uhhhhuhhhhuhhh/

 

Vampires

“…Vampires are mythological or folkloric revenants who subsist by feeding on the blood of the living. In folkloric tales, the undead vampires often visited loved ones and caused mischief or deaths in the neighbourhoods they inhabited when they were alive. They wore shrouds and were often described as bloated and of ruddy or dark countenance, markedly different from today’s gaunt, pale vampire which dates from the early Nineteenth Century. Although vampiric entities have been recorded in most cultures, the term vampire was not popularised until the early 18th century, after an influx of vampire superstition into Western Europe from areas where vampire legends were frequent, such as the Balkans and Eastern Europe,[1] although local variants were also known by different names, such as vampir (вампир) in Serbia, vrykolakas in Greece and strigoi in Romania. This increased level of vampire superstition in Europe led to mass hysteria and in some cases resulted in corpses actually being staked and people being accused of vampirism.

In modern times, however, the vampire is generally held to be a fictitious entity, although belief in similar vampiric creatures such as the chupacabra still persists in some cultures. Early folkloric belief in vampires has been ascribed to the ignorance of the body’s process of decomposition after death and how people in pre-industrial societies tried to rationalise this, creating the figure of the vampire to explain the mysteries of death. Porphyria was also linked with legends of vampirism in 1985 and received much media exposure, but this link has since been largely discredited.

The charismatic and sophisticated vampire of modern fiction was born in 1819 with the publication of The Vampyre by John Polidori; the story was highly successful and arguably the most influential vampire work of the early 19th century.[2] However, it is Bram Stoker’s 1897 novel Dracula that is remembered as the quintessential vampire novel and provided the basis of the modern vampire legend. The success of this book spawned a distinctive vampire genre, still popular in the 21st century, with books, films, and television shows. The vampire has since become a dominant figure in the horror genre. …”

http://en.wikipedia.org/wiki/Vampire

 

vulture investor

“…An investor who attempts to profit by buying debt of bankrupt or credit-impaired companies. Vulture investors are generally interested in the debt of problem companies that hold substantial tangible assets. …”

http://financial-dictionary.thefreedictionary.com/vulture+investor

Social Darwinism

“Social Darwinism refers to various ideologies based on a concept that competition among all individuals, groups, nations, or ideas drives social evolution in human societies.[1] The term draws upon the common use of the term Darwinism, which is a social adaptation of the theory of natural selection as first advanced by Charles Darwin. Natural selection explains speciation in populations as the outcome of competition between individual organisms for limited resources or “survival of the fittest” (a term in fact coined by Herbert Spencer) (also refer to “The Gospel of Wealth” theory written by Andrew Carnegie). The term first appeared in Europe in 1879 and was popularized in the United States in 1944 by the American historian Richard Hofstadter, and has generally been used by critics rather than advocates of what the term is supposed to represent.[2]

While the term has been applied to the claim that Darwin’s theory of evolution by natural selection can be used to understand the social endurance of a nation or country, social Darwinism commonly refers to ideas that predate Darwin’s publication of On the Origin of Species. Others whose ideas are given the label include the 18th century clergyman Thomas Malthus, and Darwin’s cousin Francis Galton who founded eugenics towards the end of the 19th century. …”

“…Herbert Spencer’s ideas, like those of evolutionary progressivism, stemmed from his reading of Thomas Malthus, and his later theories were influenced by those of Darwin. However, Spencer’s major work, Progress: Its Law and Cause (1857) was released two years before the publication of Darwin’s On the Origin of Species, and First Principles was printed in 1860. In regard to social institutions, there is a good case that Spencer’s writings might be classified as ‘social Darwinism’. He argues that the individual (rather than the collectivity) is the unit of analysis that evolves, that evolution takes place through natural selection, and that it affects social as well as biological phenomena.

In many ways Spencer’s theory of cosmic evolution has much more in common with the works of Lamarck and Auguste Comte’s positivism work than Darwin. …”

http://en.wikipedia.org/wiki/Social_Darwinism

 

Federal Deposit Insurance Corporation (FDIC)

“The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. Funds in non-interest bearing transaction accounts are fully insured, with no limit, under the temporary Transaction Account Guarantee Program. However, not all banks are participating in the TLGP/TAGP.

On January 1, 2010[10], the standard coverage limit will return to $100,000 for all deposit categories except IRAs and Certain Retirement Accounts, which will continue to be insured up to $250,000 per owner.

Insured deposits are backed by the full faith and credit of the United States.[2]

The vast number of bank failures caused by runs on the bank in the Great Depression spurred the United States Congress to create an institution to guarantee deposits held by commercial banks, inspired by the Commonwealth of Massachusetts and its Depositors Insurance Fund (DIF).[3]

The FDIC insures accounts at different banks separately. For example, a person with accounts at two separate banks (not merely branches of the same bank) can keep funds up to the insurance limit in each account and be insured for the total deposited. Also, accounts in different ownerships (such as beneficial ownership, trusts, and joint accounts) are considered separately for the insurance limit. Under the Federal Deposit Insurance Reform Act of 2005, Individual Retirement Accounts are insured to $250,000. …”

“…The two most common methods employed by FDIC in cases of insolvency or illiquidity are:

  • Purchase and Assumption Method (P&A), in which all deposits (liabilities) are assumed by an open bank, which also purchases some or all of the failed bank’s loans (assets). There are several types of P&As:
    • The Basic P&A: assets that pass to acquirers generally are limited to cash and cash equivalents.
    • The Loan Purchase P&A: the winning bidder assumes a small portion of the loan portfolio, sometimes only the installment loans, in addition to the cash and cash equivalents.
    • The Modified P&As: the winning bidder purchases the cash and cash equivalents, the installment loans, and all or a portion of the mortgage loan portfolio.
    • The P&As with Put Options: to induce an acquirer to purchase additional assets, the FDIC offered a “put” option on certain assets that were transferred.
    • The Whole Bank P&As: Bidders were asked to bid on all assets of the failed institution on an “as is,” discounted basis (with no guarantees). This type of sale was beneficial to the FDIC for three reasons. First, loan customers continued to be served locally by the acquiring institution. Second, the whole bank P&A minimized the one-time FDIC cash outlay, and the FDIC had no further financial obligation to the acquirer. Finally, a whole bank transaction reduced the amount of assets held by the FDIC for liquidation.
    • The Loss Sharing P&As: these use the basic P&A structure except for the provision regarding transferred assets. Instead of selling some or all of the assets to the acquirer at a discounted price, the FDIC agrees to share in future loss experienced by the acquirer on a fixed pool of assets.[24]
  • Payoff Method, in which insured deposits are paid by the FDIC, which attempts to recover its payments by liquidating the receivership estate of the failed bank. These are straight deposit payoffs and are only executed if the FDIC doesn’t receive a bid for a P&A transaction or for an insured deposit transfer transaction. In a straight deposit payoff, no liabilities are assumed and no assets are purchased by another institution. Also, the FDIC determines the insured amount for each depositor and pays that amount to him or her. In calculating each customer’s total deposit amount, the FDIC includes all the interest accrued up to the date of failure under the contractual terms of the depositor’s account.[25]  …”

http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation

 

Receivership Management Program

“When an insured institution fails, the FDIC is ordinarily appointed as receiver. In that capacity, it assumes responsibility for efficiently recovering the maximum amount possible from the disposition of the receivership’s assets and the pursuit of the receivership’s claims. Funds collected from the sale of assets and the disposition of valid claims are distributed to the receivership’s creditors in accordance with the priorities set by law.

The FDIC seeks to terminate receiverships in an orderly and expeditious manner. Once the FDIC has completed the disposition of the receivership’s assets and has resolved all obligations, claims, and other legal impediments, the receivership is terminated, and a final distribution is made to its creditors. Receivership creditors may include secured creditors, unsecured creditors (including general trade creditors), subordinate debt holders, shareholders of the institution, uninsured depositors, and the DIF (as subrogee). The FDIC is often the largest creditor of the receivership.

In addition, the FDIC works closely with other regulators and with the industry to stay abreast of capital markets and financial markets developments to be prepared for potential resolutions involving complex financial instruments. Further, with growing globalization, international outsourcing, and the interconnections of financial markets, the FDIC enters into international agreements, through cross border memoranda of understanding, to facilitate closer cooperation with key foreign authorities on the analysis of emerging issues, improved understanding of national legal and policy structures, and contingency planning for potential resolutions. …”

http://www.fdic.gov/about/strategic/strategic/receivership.html

 

The David Copperfield School of Economic Recovery, Pt. II

By Michelle Malkin  

Now what?

Last week, the Obama administration brought us a $1 trillion Federal Reserve magic trick hatched by the David Copperfield School of Economic Recovery — printing up a trillion bucks and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government.

Today, hapless, truth-challenged tax cheat Treasury Secretary Tim Geithner officially unveils another $1 trillion magic trick. Instead of letting failed banks fail, we’ll have another desperately massive and massively desperate attempt to prop them up through a “public private partnership investment program.” Eager to get the still-unfolding Bonus-gate behind them (see “Geithner Aides Worked With AIG for Months on Bonuses” and “AIG paid over $218 million in bonus payments”), Team Obama leaked details of the plan over the weekend. World stock markets were up this morning, full of audaciously blind hope.

Geithner ’s WSJ op-ed this morning lays out some of the details he failed to deliver when he first unveiled his non-plan plan a month ago: …”

http://michellemalkin.com/2009/03/23/the-david-copperfield-school-of-economic-recovery-pt-ii/

 

Can Geithner Sell New Bailout Plans After the AIG Fiasco?

 

Comments on the latest Geithner Plan

 

DN! Paul Krugman (2\2) on $1 Trillion Geithner Plan to Buy Toxic Bank Assets

 

 

The Geithner plan = The Paulson plan

 

Geithner Plan I

 

Geithner Plan II

 

House Of Cards – Part 1

 

House Of Cards – Part 2

 

Mortgage Meltdown – 44min. documentary

 

subprime derivatives

 

March 23, 2009: The Day in 100 Seconds

 

The Real Count Dracula – Romania

http://www.youtube.com/watch?v=2TbEitVbyF0&feature=related

 

Gladys Knight & The Pips: You Are The Best Thing That Ever Happened To Me

 

Related Post On Pronk Palisades

Creature from Jekyll Island: The Federal Reserve System–Videos

Mark-To-Market Accounting Rules Driving Banks To Bailouts–Change The Rules–Fed Chair Bernanke Explains!–Videos

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

Inside the Meltdown: Who Was Withdrawing From Money Market Funds On September 16-18, 2008 and Why?

The Mother of All Bailouts–2 to 3 Trillion Dollars–$2,000,000,000–$3,000,000,000!–Rewarding Greed, Arrogance and Stupidity–Pay for Play!

Bad Government Intervention Requires Bad Government Bank-The Road Map Out Of The World Economic Crisis–Stabilize–Stimulate–Strengthen–Simultaneously! 

President Obama’s Sales Pitch–Buy My Government Dependency Package–I Won The Election!–No Sale–The American People Want Their Money Back!

President Barack Obama Peddling The Government Dependency Package (GDP) and Fear Mongering The Raw Deal!

Pelosi’s Porky Pigout Poison Package–Economy Wrecker and Job Destroyer–Have A Blue Christmas 2009! 

BO’s Raw Deal: Obama’s Two Year Recession and Two Year Hyperinflation–Hopeless & Small Change!

Boycott Bailedout Businesses and Banks

Ban Bailouts–Stop Inflation Now (SIN)–Stop Socialism of Losses!

The Sovereign Wealth Fund Threat: Are Chinese Communists Behind Rush In Passing Bailout Bill?

The United States is Broke!–Chapter 11 Bankruptcy Time For GM and Ford Is Now!

Recession–Recession–Recession–Scaring People–Have A Hot Dog!

It Is Official–The U.S. Economy Has Been In A Recession for 11 Months and Continuing!

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Wealth, Income and Job Creation: Let A 1000 Microsofts Bloom

Read Full Post | Make a Comment ( 3 so far )

Mark-To-Market Accounting Rules Driving Banks To Bailouts–Change The Rules–Fed Chair Bernanke Explains!–Videos

Posted on March 23, 2009. Filed under: Blogroll, Economics, Investments, Regulations, Video | Tags: , , , , , , , , , , , , |

Peter Schiff Vlog Report 02 Apr 2009

FASB Relaxes Mark-to-Market Rules

 

CNBC’s Mark Haines On Job Loss & Mark-To-Market (HQ)

 

Dissenting View on FASB Mark to Market

 

Today in Washington – Mark-to-Market Hearing – Bloomberg

 

Future of Banking: Credit Crunch, Marking to Market impact. Sub-Prime Crisis – What next after global market chaos and share price collapse? Suspension of Mark to Market Rule.

 

 

Kudlow-McTeer on Mark-to-Market 

 

Mark-to-Market Acounting – Steve Forbes

 

Newt Ginrich: How to dramatically improve the Market Crisis.

 

Bailout Fraud EXPOSED!! Legalizing Book Cooking!!

 

FASB Eases Mark-to-Market Rules

By KARA SCANNELL

“…U.S. accounting rule makers made it easier for banks to limit losses, but in an unexpected move they bowed to critics and backtracked on one proposal that would have let companies ignore market prices in some cases.

The vote by the Financial Accounting Standards Board followed a debate in which members of Congress pushed for steps to help banks weighed down by troubled assets, while some investor groups warned that the plans would allow executives to cover up losses. The rules change spurred Thursday’s stock-market rally.

For the most part, the board ratified proposals it had put out for comment two weeks earlier, including changes that would lessen the need for banks to take an earnings hit when assets run into trouble. Financial stocks led the market up in the morning on the expectation that the rules would be approved, but faded and ended roughly on a par with the broader market. …” 

http://online.wsj.com/article/SB123867739560682309.html

 Everybody favors a mark-to-market accounting rule when there is an active market for a security or investment.

The problem with the  mark-to-market accounting standard is there are times when there is not an active market or even no market for a security or investment for a period of time.

How do you value a security or investment when this is the case?

How does  a bank or financial institution mark-to-market when an active market does not exist and there are only a few or no buyers for a security?

I favor changing the accounting rules or standards regarding the mark-to market rule to-reflect that there is actually no market for some assets when you are in a financial crisis.

When there is no market for a security or asset in your investment portfolio, a bank may be forced to raise capital to reflect the fact that one or more assets on their balance sheet has fallen significantly in value when it tries to apply the mark-to-market rule.

When a bank plans to hold an investment to maturity, then it makes no sense to force a bank to mark-to-market an asset that the bank does not intend to sell at liquidation prices or fire-sale prices.

Rumors are flying that the Treasury and the Federal Reserve in conjunction with the Financial Accounting Standards Board will stop forcing companies to mark-to-market those investments they intend to hold to maturity and are/or are receiving a money or income stream from.

Nine minutes into the video below Fed Chairman Ben Bernake speaks to the issue and gives some hints
as to what is going on:

Bernanke Speaks on Economy (Part 2) – Bloomberg

 

Fair Value Accounting: Hero or Villain?

Bernanke 2: Capitalism broadly construed has been enormous success, Mark-To-Market

 

Alfred M. King, Vice Chairman, Marshall & Stevens, Inc

 

Responding to pressure applied by lawmakers on Capitol Hill, the Financial Accounting Standards Board on Thursday voted unanimously to give auditors more flexibility in valuing illiquid mortgage assets that may have long-term value.

The new guidance, which is expected to boost bank operating profits when they report first quarter results later this month, alters so called mark-to-market rules, which have required banks and other corporations to assign a value to an asset, such as mortgage securities, credit-card debt or student-loan investments, based on the current market price for either the security or a similar asset.
Banks have complained that they have viable assets with strong cash flows that can’t be sold because there is no market for them.
Seeking to resolve this situation, FASB’s new guidance allows banks and their auditors to use “significant judgment” when valuing the illiquid assets such as mortgage securities.  …”

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid=%7B33F70684-4207-4EDD-B7C3-1B82B7A7F6B6%7D

Fmarket flexibility ASB approves more mark-to-Panel passes measure unanimously; measure could boost bank profit

By Ronald D. Orol, MarketWatch
“…Responding to pressure applied by lawmakers on Capitol Hill, the Financial Accounting Standards Board on Thursday voted unanimously to give auditors more flexibility in valuing illiquid mortgage assets that may have long-term value.

The new guidance, which is expected to boost bank operating profits when they report first quarter results later this month, alters so called mark-to-market rules, which have required banks and other corporations to assign a value to an asset, such as mortgage securities, credit-card debt or student-loan investments, based on the current market price for either the security or a similar asset.
Banks have complained that they have viable assets with strong cash flows that can’t be sold because there is no market for them.
Seeking to resolve this situation, FASB’s new guidance allows banks and their auditors to use “significant judgment” when valuing the illiquid assets such as mortgage securities. …”
 

Mark to market

Robert Herz, chairman of the Financial Accounting Standards Board (FASB), noted that he has been a long-time advocate of mark-to-market, or fair value, accounting, but that the approach works a lot better with markets that give off strong and clear price signals. …”

 

Mark-to-Market Debate: The Banking System

 

Mark-to-Market Debate: Bank write-down

 

Brian Westbury on “Mark to Market”

 

Special Report Mark To Market

http://www.youtube.com/watch?v=GL5s1Q7OxlY

 

Mark-to-Market Accounting

Warren Buffet on Mark-to-Market

 

Why did the political elites wait so long to address this issue?

This should have been done in September 2008 if not much earlier.

A recessions was needed to guarantee the election of candidate Obama.

Economists should not be intimated by accountants.

Presidents should not be intimated by either economists or accountants.

Get on with it people and show some leadership.

Delay is hurting tens of millions of people around the world that are currently unemployed.

Stop all the nonsense about bonuses for AIG people.

Congress and the President are looking more and more like dilitents and incompetents.

A worldwide recessions largely caused by an accounting rule.

Unbelievable! 

 

Background Articles and Videos

FASB Eases Mark-to-Market Rules

Bernanke Speaks on Economy (Part 1) – Bloomberg

US FASB says to discuss mark-to-market Monday

 

FASB/ (UPDATE 1):UPDATE 1-US FASB says to discuss mark-to-market Monday

“…The Financial Accounting Standards Board, which sets U.S. accounting rules, will discuss mark-to-market accounting guidance at its board meeting Monday, according to its website.

The board says it will discuss “additional application guidance” that would clarify how mark to market is used in illiquid markets, according to the website.

U.S. lawmakers told FASB Chairman Robert Herz on Thursday to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down billions of dollars in assets. …”

http://www.forbes.com/feeds/reuters/2009/03/13/2009-03-13T224940Z_01_N13459943_RTRIDST_0_FASB-UPDATE-1.html

Ed Yingling on CNBC

 

FASB to discuss mark-to-market accounting rule changes on Monday

March 14, 2009 by Bank REO

“…U.S. lawmakers told FASB Chairman Robert Herz on Thursday to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down billions of dollars in assets.

The rules, also known as fair value accounting, were aimed at giving investors an accurate view of financial companies’ books, but some banks and investors have blamed the rules for accelerating the financial crisis.

The board also said it will discuss “how best to present” other-than-temporary impairments, which affect how companies write down assets that have suddenly declined in value.

The American Bankers Association has urged FASB and U.S. regulators to look at clarifying impairment rules.

The U.S. Securities and Exchange Commission and FASB oppose suspension or elimination of the rule, saying that such a move would hurt the quality and transparency of financial reporting and further diminish investor confidence in the capital markets.

Last year, the SEC and FASB released guidance saying the financial industry did not need to mark down values of hard-to-value assets to fire-sale prices, saying the “fair value” of these assets should reflect orderly transactions.

However, in the past few months, FASB has been criticized for the “pro-cyclical” effects of mark-to-market accounting, which some claim led to a downward spiral where bank assets valued at market prices had to be written down, causing markets to freeze up and leading to more write-downs.

FASB had said last month that it had started two projects to further improve fair value accounting in illiquid markets and that it hoped to complete the work by the end of the second quarter. FASB also said it has plans to work with the London-based International Accounting Standards Board on a broad review of impairment rules. …”

 

“…CPA’s continued to struggle with asset valuation. What is fair? What is conservative? Enter Enron. Inside accountants at Enron recognized correctly that valuing assets at cost was often invalid, so they started playing fast and loose with asset values, using something called mark-to-model. A sharp CPA could design a believable computer model that could make the value come out wherever his boss wanted it to be. He could also convince outside auditors and regulators of the soundness of his model.  Embarrassed that they had been caught looking the other way, FASB (Financial Accounting Standards Board) passed rule 157 that requires assets to be marked to market. Asset valuation based on the optimism of its owner was replaced with the skepticism of a risk-averse buyer. Sounds nice and conservative.

 

Enter the law of unintended consequences.

 

Suspending the mark-to-market rule would allow banks and accountants to revalue their assets based on more sound criteria than the euphoria or panic that pervades the floor of the New York Stock Exchange minute-by-minute. Sub-prime mortgages will likely have much higher values if considered in a longer-term perspective — such as hold-to-maturity. I believe that the vast majority of mortgages will perform in the long term.

 

Presto. Up goes assets; up goes capital; banks can make loans again. Cash infusions may still be required, but this will buy us enough time to seriously examine what steps need to be taken to get runaways like Fannie and Freddie under control, how to renegotiate rates with distressed borrowers who really can handle a mortgage, and how to keep this from happening again. Can this be done? If we can approve 700 billion, surely we can do this and keep our money.”

http://www.bankreorealestate.com/policy-news/fasb-to-discuss-mark-to-market-accounting-rule-changes-on-monday.html

 

The Trillion-Dollar Question: Are the Bookkeepers At It Again?

By Jim H. Ainsworth

 “…Why should America attempt an expensive, controversial, and possibly ineffective bailout strategy for the current financial crisis when a virtually costless and simpler change could solve much of the problem?

We accountants don’t like publicity. Fortunately, we don’t get much. Most of the public remembers Enron, but fewer remember Arthur-Andersen, the big accounting firm that went down with them. Questionable accounting was a big part of the reason for Enron’s failure. I think accountants may be behind the scenes again in the current financial crisis. Are there any of us bean counters in those meetings? If there are, my bet is that they are sitting on their hands and keeping their mouths shut even though they might know about a much better (and cheaper) solution. Accountants, after all, don’t talk much; and they don’t like to admit errors.

 

Pouring 700 billion of our money into failing financial institutions seems akin to throwing spaghetti against the wall. Keep throwing until something sticks. They tell us that credit will dry up if we don’t inject cash. No credit would be disastrous for the economy, but they have not explained well enough why the banks have failed so suddenly and drastically that emergency room surgery is required. Knowing why would help us poor taxpayers feel better about how the problem should be solved. Ever wonder how many other bank failures are out there waiting behind the curtain to take their bows? Are we going to throw even more money at them too?

 

Should we consider a solution that requires no money, or at least a lot less? Here’s one. Have the SEC suspend the accounting rule called mark-to-market. By a relatively simple accounting adjustment, troubled banks’ assets and capital could be increased and credit kept available. Accounting purists, cover your ears. Eyes glaze and minds wander when I say balance sheet, so let’s use the acronym BS, a more appropriate description. BS’s have two sides: assets on the left, liabilities and capital on the right. Banks are required to maintain certain levels of capital (the difference between assets and liabilities) in order to make loans. When assets shrink, capital shrinks. When the ratio of capital to assets drops to a certain level, (think ten-to-one), banks are not allowed to make loans. And if it drops too low, they can be classified as insolvent. This can happen overnight, and it did.

http://www.americanthinker.com/2008/09/the_trilliondollar_question_ar.html 

Mark-to-market accounting

“Mark-to-market or fair value accounting refers to the accounting standards of assigning a value to a position held in a financial instrument based on the current fair market price for the instrument or similar instruments. Fair value accounting has been a part of US Generally Accepted Accounting Principles (GAAP) since the early 1990s. The use of fair value measurements has increased steadily over the past decade, primarily in response to investor demand for relevant and timely financial statements that will aid in making better informed decisions. …”

History and development

The practice of mark to market as an accounting device first developed among traders on futures exchanges in the 20th century. It was not until the 1980s that the practice spread to big banks and corporations far from the traditional exchange trading pits, and beginning in the 1990s, mark-to-market accounting began to give rise to scandals.

To understand the original practice, consider that a futures trader, when taking a position, deposits money with the exchange, called a “margin”. This is intended to protect the exchange against loss. At the end of every trading day, the contract is marked to its present market value. If the trader is on the winning side of a deal, his contract has increased in value that day, and the exchange pays this profit into his account. On the other hand, if the market price of his contract has declined, the exchange charges his account that holds the deposited margin. If the balance of this accounts falls below the deposit required to maintain the position, the trader must immediately pay additional margin into the account to maintain his position. As an example, the Chicago Mercantile Exchange, taking the process one step further, marks positions to market twice a day, at 10:00 am and 2:00 pm.[1]

Over-the-counter (OTC) derivatives on the other hand are formula-based financial contracts between buyers and sellers, and are not traded on exchanges, so their market prices are not established by any active, regulated market trading. Market values are, therefore, not objectively determined or readily available (purchasers of derivative contracts are customarily furnished computer programs which compute market values based upon data input from the active markets and the provided formulae). During their early development, OTC derivatives such as interest rate swaps were not marked to market frequently. Deals were monitored on a quarterly or annual basis, when gains or losses would be acknowledged or payments exchanged.

As the practice of marking to market caught on in corporations and banks, some of them seem to have discovered that this was a tempting way to commit accounting fraud, especially when the market price could not be objectively determined (because there was no real day-to-day market available or the asset value was derived from other traded commodities, such as crude oil futures), so assets were being ‘marked to model’ in a hypothetical or synthetic manner using estimated valuations derived from financial modeling, and sometimes marked in a manipulative way to achieve spurious valuations. See Enron and the Enron scandal.

Internal Revenue Code Section 475 contains the mark to market accounting method rule for taxation. Section 475 provides that qualified securities dealers that elect mark to market treatment shall recognize gain or loss as if the property were sold for its fair market value on the last business day of the year, and any gain or loss shall be taken into account in that year. The section also provides that dealers in commodities can elect mark to market treatment for any commodity (or their derivatives) which is actively traded (i.e., for which there is an established financial market that provides a reasonable basis to determine fair market value by disseminating price quotes from broker/dealers or actual prices from recent transactions). …”

http://en.wikipedia.org/wiki/Mark-to-market

 

FASB Chairman Robert H. Herz Testifies on Mark-to-Market Accounting

“…Addressing misconceptions that mark to market is a broadly applied rule, Herz explained that so called “mark to market” accounting generally only applies to trading accounts and derivatives that don’t qualify as hedges. Additionally, Herz clarified that the use of fair value for measurement depends on both the nature of a financial asset and its intended use by an institution. Herz added that current financial reporting in the U.S. and elsewhere across the world included the use of both fair value and historical cost.

In response to the current challenging market conditions and feedback from a wide array of investors and constituents—including the SEC—the FASB recently announced projects intended to improve the application guidance used to determine fair values as well as improving disclosures in financial reports. (http://www.fasb.org/news/nr021809.shtml). Earlier in the crisis, the FASB and SEC jointly issued new guidance on the application of fair value in illiquid markets. (http://www.fasb.org/news/2008-FairValue.pdf).

“The fact that fair value measures have been difficult to determine for some illiquid instruments is not a cause of current problems but rather a symptom of the many problems that have contributed to the global crisis—including lax and fraudulent lending, excess leverage, the creation of complex and risky investments through securitization and derivatives, the global distribution of such investments across rapidly growing unregulated and opaque markets lacking a proper infrastructure for clearing mechanisms and price discovery, faulty ratings, and the absence of appropriate risk management and valuation processes at many financial institutions,” Herz said.

http://www.fasb.org/news/nr031209.shtml

 

Mark-to-Market: The Bogeyman of the 1930s Is Back

By Mark Sunshine

“I wonder how many people realize that FDR got rid of mark-to-market accounting in 1938 after it virtually destroyed the banking sector. According to Brian Wesbury and Robert Stein, mark-to-market accounting was the law of the land for most of the Great Depression until it was outlawed by FDR in 1938. Wesbury and Stein report that the rationale for mark-to-market accounting in the 1930s seems similar to today’s argument for the rule: the need for greater price transparency based upon the efficient markets hypothesis in the banking sector.

FDR rejected the arguments of the efficient markets crowd because he thought that mark-to-market accounting contributed to the Great Depression. For approximately 70 years after FDR’s decision, banks operated without mark-to-market accounting and the economy didn’t have the threat of another depression. Years later Milton Friedman wrote that mark-to-market accounting was responsible for the avoidable failure of many banks in the 1930s. Maybe it is just coincidence, but immediately after mark-to-market accounting was restored in 2007 the banking sector started into a death spiral. Unfortunately, even though history seems to be repeating itself, few people are trying to learn from the past. Even so, today’s Congressional hearings on mark-to-market accounting are hopefully the first step towards stopping this terrible man-made economic disaster. …”

 http://seekingalpha.com/article/125914-mark-to-market-the-bogeyman-of-the-1930s-is-back

 

Gibbs on Geithner: “Uhhhh….uhhhh…uhhh”

By Michelle Malkin  

Mark-to-Market Rules – Worsening the Credit Crisis?

“Despite the fact that the majority of MBS owned by banks are not in default, the fair market value for them is very low.  Why?  The market is illiquid, no one is buying them.  The spread between the bid and the ask is too large—and mark-to-market values assets based on the bid.

Normally, it would be fair for banks to value securities at the price they are fetching on the open market.  But these aren’t normal times, and most Banks argue that the value of the securities they are holding is actually much higher than their current market value.  Meanwhile, the value of bank balance sheets are plummeting—forcing them to write-down losses and seek outside funds to maintain required capital ratios. European regulators suspended mark-to-market accounting in early October, 2008.

Proponents of mark-to-market accounting argue that the rule helps prevent banks from understating the gravity of their situations.  Investors and creditors have the right to know the true value of publicly-traded companies.  Says Dane Mott, Analyst with JPMorgan Chase:  “Blaming fair-value accounting for the credit crisis is a lot like going to a doctor for a diagnosis and then blaming him for telling you that you are sick.”

This is a great analogy, but to what extent should you believe the doctor?  In the current situation it could be said that using mark-to-market accounting on mortgage backed securities is like the doctor telling you that you have brain cancer when in fact you are just suffering from stress-related headaches. I am keen to hear your views! …”

 

http://michellemalkin.com/2009/03/20/gibbs-on-geithner-uhhhhuhhhhuhhh/

 

The David Copperfield School of Economic Recovery

By Michelle Malkin  

“…The Federal Reserve performed another empty magic trick yesterday to the tune of $1 trillion.

While the Kabuki Theater of AIG outrage played out in Washington, the Fed was pulling its David Copperfield School of Economic Recovery routine. They’ll be printing up a trillion buck and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government. Voila:

The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.

The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

The illusion melts: …”

http://michellemalkin.com/2009/03/19/the-david-copperfield-school-of-economic-recovery/

The David Copperfield School of Economic Recovery, Pt. II

By Michelle Malkin  

Now what?

Last week, the Obama administration brought us a $1 trillion Federal Reserve magic trick hatched by the David Copperfield School of Economic Recovery — printing up a trillion bucks and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government.

Today, hapless, truth-challenged tax cheat Treasury Secretary Tim Geithner officially unveils another $1 trillion magic trick. Instead of letting failed banks fail, we’ll have another desperately massive and massively desperate attempt to prop them up through a “public private partnership investment program.” Eager to get the still-unfolding Bonus-gate behind them (see “Geithner Aides Worked With AIG for Months on Bonuses” and “AIG paid over $218 million in bonus payments”), Team Obama leaked details of the plan over the weekend. World stock markets were up this morning, full of audaciously blind hope.

Geithner ’s WSJ op-ed this morning lays out some of the details he failed to deliver when he first unveiled his non-plan plan a month ago: …”

http://michellemalkin.com/2009/03/23/the-david-copperfield-school-of-economic-recovery-pt-ii/

 

Mark-to-Market Debate: Mark to Market Accounting Definitions

 

Mark-to-Market Debate: Difference between Mark to Market accounting and Fair Value Accounting

 

Mark-to-Market Debate: Fair Value Defined

 

Mark-to-Market Debate: Volatile Markets

 

Mark-to-Market Debate: Models in Accounting

 

Mark-to-Market Debate: What is OTTI?

 

Mark-to-Market Debate: Better than Mark-to-Market?

 

 

ENRON Created Mark To Market Book Cooking!

 

Mark to market

 

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The Monetarization of The Debt and Quantitative Easing: The Federal Reserve is printing $1,000,000,000,000!–Run-Away Inflation Coming Soon!

Posted on March 20, 2009. Filed under: Blogroll, Employment, Investments, Music, Politics, Rants, Raves, Resources, Taxes, Video | Tags: , , , , , , , , , , , |

Glenn Beck alerted the American people to what is happening with the U.S. Treasury and Federal Reserve:

Glenn Beck’s ‘One Thing’: 03-19-09

 

 

Federal Reserve Monetizes U.S. Debt While Americans Cry over AIG Bonuses. Glenn Beck

 

Peter Schiff 3/18/09 – Schiff Report Video Blog


 

No Risk of Hyperinflation Says Federal Reserve Chairman Ben Bernanke. Rest easy Glenn Beck

 

Jim Rogers “America is out of control” demise of the dollar

 

Jim Rogers the Dollar is Doomed 23 Mar 2009

 

Voices of Freedom: Ron Paul, Peter Schiff, and Jim Rogers school Obama, Bush, Bernanke, and Paulson

 

LOL

It’s not AIG. It’s the GOV…

Fed to pump another $1 trillion into U.S. economy

“The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.

The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

The idea was to encourage more economic activity by lowering interest rates, including those on home loans, and to help the financial system as it struggles under the crushing weight of bad loans and poor investments.

Investors responded with surprise and enthusiasm. The Dow Jones industrial average, which had been down about 50 points just before the announcement, jumped immediately and ended the day up almost 91 points at 7,486.58. Yields on long-term Treasury bonds dropped markedly, and analysts predicted that interest rates on fixed-rate mortgages would soon drop below 5 percent. …”

“…Since last September, the Fed’s lending programs have roughly doubled the size of its balance sheet, to about $1.8 trillion, from $900 billion. The actions announced on Wednesday are likely to expand that to well over $3 trillion over the next year.

Despite a trickle of encouraging data in the last few weeks, Fed officials were clearly still worried and in no mood to cut back on their emergency efforts.

Fed policy makers sharply reduced their economic forecasts in January, predicting that the economy would continue to experience steep contractions for the first half of 2009, that unemployment could approach 9 percent by the end of the year and that there was at least a small risk of a drop in consumer prices like those that Japan experienced for nearly a decade.

The Fed rarely buys long-term government bonds. The last occasion was nearly 50 years ago under different economic circumstances when it tried to reduce long-term interest rates while allowing short term rates to rise.”

http://www.iht.com/articles/2009/03/18/business/fed.php

 

Monetary Policy Rebooted

Francis Cianfrocca

“…The Federal Reserve announced a momentous shift in policy yesterday. Its import was easy to miss because, as always with the Fed, it was written in a jargon only superficially resembling English. But its intention is to take actions that will deeply shift the policy landscape, probably to a much greater extent than Congress’s various stimulus plans.

The Fed announced an American version of what has been called “quantitative easing,” or QE. The Japanese have done this before, and the British got into it a few weeks ago. You can think of it, with no loss of accuracy, as inflation.

QE is what monetary authorities resort to when policy interest rates go to zero, which is where they are now. If you can’t reduce the price of money any further, you simply increase the amount of money. The Fed will be monetizing (purchasing) about $750 billion in mortgage-backed securities and about $300 billion in straight Treasury debt.

They’ve purchased mortgage paper before (last December), but the Treasury debt purchases are new. And the bond market’s reaction to the news was electric, as interest rates fell sharply, particularly for the 10-year note. Inflation-sensitive commodities like oil, gold and copper also shot up 5% or more in price, and are holding those gains this morning. The news is also a mild positive for the stock market, which can benefit from inflation.

What is Fed Chairman Ben Bernanke really trying to do? He wants to unfreeze the “credit crunch” that is making it too expensive or even impossible for U.S. consumers and businesses to borrow money, which was the trigger for the current recession. The Fed directly controls only the shortest-term interest rates. But consumer purchases (including mortgages) and business investments are sensitive to longer-term interest rates. QE is the Fed’s way of trying to reduce real interest rates in the 2 to 10-year range of the spectrum.

This is also the biggest experiment in monetary policy in history. Milton Friedman is known for having explained the genesis of the Great Depression in monetary terms. Bernanke, a close student of the early Depression, is determined to prevent the wicked asset deflation of 1930-32 that ruined so many lives. At what cost? Well, the Fed’s balance sheet just grew by $1.15 trillion: it’s now 50% bigger than it was a day ago. That’s a scary amount of inflation. …”

“…What no one really knows yet is the exact linkage between the formation of new money, and the formation of new credit. Bernanke and his Fed are gambling that a giant pulse of monetary inflation will reignite private lending. We can only hope they’ve pointed their fire hose at the right problem.

For every lender, there’s a borrower. The Fed will succeed if the problem in credit markets is the reluctance of lenders to write new loans. But if the problem turns out to be a lack of demand for credit, then all we’ll get out of this is stagflation.”

http://www.commentarymagazine.com/blogs/index.php/cianfrocca/59211 

I will add more to this post Monday.

I need to do some more research.

Consider this a heads-up!

This is not good for it will devalue the dollar and could lead to inflation if the Federal Reserve does not quickly reduce the money supply and raise interest rates once inflation rears it head starting in 2011.

This is truly a dangerous game and if your timing is off will lead to hyperinflation.

The Federal Reserve Chairman understands this but is currently more concerned about deflation and a even worse recession in terms of duration from two to four years and unemployment rates exceeding 10%.

Both fiscal policy and monetary policy are scaring people and this in and of itself is enough to prolong the return of consumer and business confidence.

President Obama is proving once again he is One Big Awful Mistake America.

President Obama neither understand nor really cares about the financial crisis and his only concern is the establishment of his radical socialist agenda in the United States by remaining in power.

The President will say and do anything to make this a reality.

While the Fed Chairman is on the side of free markets, it is an open question whether monetary policy alone can counter the fiscal irresponsibility of the Obama administration.–massively huge deficits and stimulus bills. Instead I am afraid the Federal Reserve is prepared to enable socialism in America by purchasing US Treasury bond and notes used to finance the massive deficits for the next four or eight years. This is madness for it is printing money and will result in hyperinflation. Speculation is already starting again in oil, where actual demand for oil has declined. The investment banks are at it again! Enough is enough. Are there an adults in Washington D.C. or just mad fools?

Also, the potential for the biggest tax increase in US history in the form of dramatic increases in the general price level will happen in 2011 on top of Obama’s own huge tax increase.

Inflation rates exceeding 10% would hurt low income and those on a fixed income the most and would wipe out any tax decreases obtained from lower tax rates or earned income credits.

This would be an economic disaster of the first order and would result in a jobless recovery and stagflation, high unemployment rates (over 10%)  and high inflation rates (over 10%)–a repeat but only worse of the Carter years–call it Obama’s 1010 Depression!

Join the second American Revolution before it is too late.

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Beck Speaks to the 21st Century Thomas Paine

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Background Articles and Videos

 

Dallas Fed’s Fisher: The Fed Should Staunchly Resist Monetizing the Debt

Richard Fisher, president of the Dallas Fed, says “from time immemorial any central banker worth his or her salt has been genetically unable to tolerate inflation.” That means, among other things, never, ever voting to monetize the debt: …” 

http://economistsview.typepad.com/economistsview/2005/10/dallas_feds_fis.html

 

Monetization

Monetization is the process of converting or establishing something into legal tender. It usually refers to the printing of banknotes by central banks, but things such as gold, diamonds and emeralds, and art can also be monetized by Standby Letter of Credit brokers. Even intrinsically worthless items can be made into money, as long as they are difficult to make or acquire. Monetization may also refer to exchanging securities for currency, selling a possession, charging for something that used to be free or making money on goods or services that were previously unprofitable.

Debt monetization occurs when a nation’s central bank (e.g. the Federal Reserve in the United States) buys government bonds. [1] If a government’s expenses exceed its tax revenue, if nothing is done the government will draw resources (capital) out of the private market. Since there is a limited amount of capital available in the market, there will be less available to fund business growth if the government takes out a substantial portion. If the debt is monetized, the capital is thereby returned to the private market.

Excessive debt monetization can be inflationary, which in some eyes can be seen as a flat tax because the ultimate result is that the government acquires additional funds and the currency decreases in value.[citation needed] However, monetization helps the government temporarily to meet its short term commitments at the beginning.[citation needed] On the other hand, some degree of debt monetization is useful for increasing the money supply, to keep up with increased production or economic growth.

Hence it is a primary tool of the Federal Reserve in managing interest rates. Excessive debt monetization has the drawback of increasing the twin deficit. That is, when government financing is increased, along with interest rates and foreign capital, the trade deficit also goes up along with the budget deficit.[citation needed]

http://en.wikipedia.org/wiki/Monetize

The David Copperfield School of Economic Recovery

By Michelle Malkin  

“…The Federal Reserve performed another empty magic trick yesterday to the tune of $1 trillion.

While the Kabuki Theater of AIG outrage played out in Washington, the Fed was pulling its David Copperfield School of Economic Recovery routine. They’ll be printing up a trillion buck and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government. Voila:

The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fed’s measures in the last year.

The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

The illusion melts: …”

http://michellemalkin.com/2009/03/19/the-david-copperfield-school-of-economic-recovery/

 

The David Copperfield School of Economic Recovery, Pt. II

By Michelle Malkin  

Now what?

Last week, the Obama administration brought us a $1 trillion Federal Reserve magic trick hatched by the David Copperfield School of Economic Recovery — printing up a trillion bucks and “pumping it into the U.S. economy”…by buying up bonds and mortgage securities…sold and backed by the government.

Today, hapless, truth-challenged tax cheat Treasury Secretary Tim Geithner officially unveils another $1 trillion magic trick. Instead of letting failed banks fail, we’ll have another desperately massive and massively desperate attempt to prop them up through a “public private partnership investment program.” Eager to get the still-unfolding Bonus-gate behind them (see “Geithner Aides Worked With AIG for Months on Bonuses” and “AIG paid over $218 million in bonus payments”), Team Obama leaked details of the plan over the weekend. World stock markets were up this morning, full of audaciously blind hope.

Geithner ’s WSJ op-ed this morning lays out some of the details he failed to deliver when he first unveiled his non-plan plan a month ago: …”

http://michellemalkin.com/2009/03/23/the-david-copperfield-school-of-economic-recovery-pt-ii/

 

The Chairman Part 1

http://www.youtube.com/watch?v=odPfHY4ekHA&feature=related 

The Chairman Part 2 

http://www.youtube.com/watch?v=e0zY8o0laZY

Ron Paul: Quit bankrupting this country & MONITOR THE FEDERAL RESERVE

 

Market 2 Market- FX: Helicopter Ben
 

 

Ron Paul tells Bernanke you can’t reinflate the bubble 2-25-09

 

CNBC: Ron Paul’s question makes Ben Bernake’s voice quiver

09

 

Money, Banking & The Federal Reserve ( part 1 of 4 )

 

Money, Banking & The Federal Reserve ( part 2 of 4 )

 

Money, Banking & The Federal Reserve ( part 3 of 4 )

 

Money, Banking & The Federal Reserve ( part 4 of 4 )


 

Bernanke Speaks on Economy (Part 1) – Bloomberg

 

Bernanke Speaks on Economy (Part 2) – Bloomberg

 

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Presidential Oath Takers and Oath Breakers–Stopping The 20 Million Mexican Illegal Alien Invasion of the United States!

Posted on March 19, 2009. Filed under: Blogroll, Communications, Economics, Education, Employment, Homes, Immigration, Law, Links, Philosophy, Politics, Quotations, Rants, Raves, Resources, Security, Strategy, Video, War | Tags: , , , , , , , , , , , , , , , , , , , , |

“No man is above the law and no man is below it: nor do we ask any man’s permission when we ask him to obey it.”

~President Theodore Roosevelt 

 

George Washington takes the Oath of Office (Inauguration)

President George W. Bush Taking The Oath of Office

President George W. Bush Taking The Oath of Office


Inauguration Of George W. Bush

 

Every President of the United States must take the following oath of office as setforth in the US Constitution, Article II, Section 1:

“I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.”

http://www.law.cornell.edu/constitution/constitution.articleii.html#section1

Under Article 4, Section 4, the Federal Government must defend the states against invasion:

“The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence.”

http://www.law.cornell.edu/constitution/constitution.articleiv.html#section4

 

obama_swearing_in_back

 

Barack Obama Oath of Office

 

obama_family_swearing_in

 

“The clearest way to show what the rule of law means to us in everyday life is to recall what has happened when there is no rule of law.” 

~ President Dwight David Eisenhower

President Obama becomes the second President in a row that breaks his oath of office and fails to stop the invasion of the United States by over 20 million Mexican illegal aliens.

Instead of enforcing existing immigration laws and deporting illegal aliens, President Obama under the code words of  “comprehensive immigraion reform,”  and a  “pathway to citizenship” wants to grant the millions of illegal aliens now working in America — amnesty!

cnn – obama on immigration reform – no borders


 

President Obama and Immigration Reform

Mexican Drug Cartels Overrunning American Cities. Build a border Wall – Glenn Beck

Lou Dobbs: Mexican Border Drug War & Border Fencing

 
 

Excuse me Mr. President but unemployed Americans now numbering over 13 million want to know why illegal aliens numbering over 20 million are still illegally working in the United States?

Tell the 20 million Mexican illegal aliens to come out of the shadows and go home, Mr. President.

Tell American business owners to stop hiring illegal aliens by requiring them to use E-Verify, Mr. President.

Tell those who want to immigrate to the United States to do so legally or do not come at all, Mr. President.

Tell the American people that the double border fence and road will not only be completed but will extended along the entire border with Mexico and be well patrolled, Mr. President.

Yes the United States is a nation of immigrants, Mr. President, however, the United States is also a nation under the rule of law.

Mr. President, start enforcing the immigration laws and stop trying to change them to reward criminal aliens!

Either honor the oath office you freely took  “to the best of my ability, preserve, protect and defend the Constitution of the United States .” or do the right thing and resign.

close_up_obama

Unfortunately, President Obama is misleading the American people that he intends to stop businesses from hiring illegal aliens.

Instead President Obama and the Democrats are in fact trying to kill E-Verify, the most effective tool in stopping the hiring of illegal aliens!

Both E-Verify and the double border fence work to stop the illegal alien invasion.

Both President Obama and the Democrats oppose them for precisely this reason.

Lou Dobbs – 2-2-9 – Obama Admin wants to kill E-Verify

Lou Dobbs – E-Verify & Border Fence may be canceled

E-Verify Killed by Democrats, Stripped from Stimulus Bill, Illegal Aliens will get Stimulus Jobs

The overwhelming majority of Americans want illegal immigration to stop and those illegally living and working to just go home.

Unfortunatley, the current President of the United States like the past President, will not stop the 20 million Mexican invasion of the United States.

Both Presidents are oath breakers who refused to enforce the immigration laws.

The rule of law is being challenged by the rule of man.

Ronald Reagan takes the oath of office

“Freedom prospers when religion is vibrant and the rule of law under God is acknowledged.”

~President Ronald Reagan

 

We The People Stimulus Package

LOL

What if they Stole Your Springsteen Seats…

Second American Revolution–Tea Party Celebrations–Washington Fair–July 4, 2009–An Open Invitation To The American People

American People’s Plan = 6 Month Tax Holiday + FairTax = Real Hope + Real Change!–Millions To March On Washington D.C. Saturday, July 4, 2009! 

Background Articles and Videos

The Second American Revolution

 

Glenn Beck – Worst-Case Scenario No. 1/3

Glenn Beck – Worst-Case Scenario No. 2/3

US Constitution

http://www.law.cornell.edu/constitution/constitution.overview.html 

 

FAIR

Federation for American Immigration Reform

Public Opinion Polls on Immigration

“…The general public overwhelmingly favors immigration reform. Poll after poll shows that Americans want well-enforced, sensible, and sustainable immigration laws.

  • 89% of Americans think illegal immigration into the U.S. is a problem (30% “extremely serious,” 33% “very serious,” and 26% “somewhat serious.” (Time Magazine, Jan. 2006)
  • 82% think that not enough is being done along the borders to keep illegal immigrants from crossing into the country. (New York Times/CBS May 2007)
  • 68% feel that the number of immigrants who cross the border, whether legal or illegal is “too high”. (Polling Company, Sept. 2006)
  • 62% oppose making it easier for illegal immigrants to become citizens of America. (Quinnipiac Univ., Feb. 2006)

These are only a few examples of the many statistics demonstrating that Americans want lower immigration, greater enforcement, and more commitment to making immigration work in the best interests of the nation.

MOST RECENT NATIONAL POLLS

A Rasmussen Report Poll conducted November 5, 2008 of 1,000 likely voters asked: “Is the government doing enough to secure the border?”

  • 79% responded “no,”” it is not doing enough.
  • 10% responded “yes.”

It also asked, “Which is more important: securing the border or legalizing undocumented workers?”

  • 65% responded that gaining control of the border is more important.
  • 26% responded that legalization is more important.

Rasmussen Report Poll conducted from October 24-25th of 800 likely voters found that:

  • 51% opposed the DREAM Act (a form of amnesty for former and present illegal alien students) concept
  • 68% believe the passage of the bill would encourage more illegal immigration in the future.
  • 71% believe that illegal immigrants should not qualify for in-state tuition rates at colleges and universities.
  • 77 % oppose making drivers’ licenses available to illegal immigrants. …”

http://www.fairus.org/site/PageServer?pagename=research_researchd74c

 

Downsizing Illegal Immigration
A Strategy of Attrition Through Enforcement

May 2005

By Mark Krikorian

“…An important point about using verification of legal status as a way downsize the illegal population is that its effects would be felt gradually, rather than all at once. A new, functional verification system for employment, for instance, would be applied mainly to new hires (though employers should have the option of checking existing employees as well). The same is true for getting a driver’s license or a mortgage — these are not things people do every day, so the effects of verifying legal status would unfold over a period of time.

Attrition requires not only implementing policies to force illegals to deport themselves, but also avoiding policies that would trigger more illegal immigration. This has two main policy implications: First, streamline the legal immigration system to make it less likely to promote illegal immigration, by eliminating the visa lottery and the preference category for adult siblings of U.S. citizens. And second, under no circumstances undertake any new guestworker programs, the inevitable result of which would be to stimulate even more illegal immigration.

And finally, legalization (i.e., amnesty) isn’t even a legitimate topic for discussion until after the broken immigration system is fixed. Even then, there are strong arguments against it, but it would at least be appropriate to debate it as one possible way to deal with long-term illegal aliens. Until that time, however, even a discussion of legalization (or normalization, or earned regularization, or whatever this week’s euphemism is for amnesty) is irresponsible and subversive of law enforcement.

An effective strategy of immigration law enforcement requires no booby traps, no tanks, no tattoos on arms — none of the cartoonish images invoked in the objections raised routinely by supporters of loose borders. The consistent application of ordinary law-enforcement tools is all we need. “Consistent,” though, is the key word. Enforcement personnel — whether they are Border Patrol agents, airport inspectors, or plainclothes investigators — need to know that their work is valued, that their superiors actually want them to do the jobs they’ve been assigned, and that they will be backed up when the inevitable complaints roll in.

And, finally, this isn’t bitter medicine the public must be persuaded to swallow for the greater good. Enforcement of the immigration law may not be popular among the elite, but actual voters across the political spectrum support it. As Alan Wolfe wrote in One Nation, After All, the difference between legal and illegal immigrants “is one of the most tenaciously held distinctions in middle-class America; the people with whom we spoke overwhelmingly support legal immigration and express disgust with the illegal variety.”

Harnessing that sentiment can buttress a sober, considered policy of attrition through enforcement.”

http://www.cis.org/articles/2005/back605.html

 

Nacy Pelosi Says Enforcing Immigration Law is Un-American

 

 

Obama-immigration(LA RAZA)

 

Obama Immigration Reform / Youth gangs dropouts / Latino racial identity: Janet Murguia NCLR

 

San Francisco values: Pelosi says enforcing immigration laws is “un-American”

By Michelle Malkin  

As I noted yesterday, the next big shamnesty push is underway at the White House. And Nancy Pelosi is performing her own open-borders sideshow in the House circus tent. If her rhetoric trashing federal ICE agents sounds familiar, well, it’s because Barack Obama engaged in the same smearing during the campaign — when he accused ICE agents of “terrorizing” families.

Pelosi the Patriot goes one step further and asserts that enforcement actions by ICE are “un-American.”

These are San Francisco values at work: …”

http://michellemalkin.com/2009/03/18/san-francisco-values-pelosi-says-enforcing-immigration-laws-is-un-american/ 

 

Immigration Hearing 5/10/2007 — Robert Rector (Heritage)

 

Robert Rector on the Cost of Low-Skill Immigrants

 

The Dangers of Unlimited Legal & Illegal Immigration


 

Stop Amnesty for Illegal Immigrants

 

New Immigration study out and results are shocking

 

How Many Illegal Aliens are in the U.S.? – Introduction

Census Bureau estimates of the number of illegals in the U.S. are suspect and may represent significant undercounts. The studies presented by these authors show that the numbers of illegal aliens in the U.S. could range from 20 to 38 million.

 

How Many Illegal Aliens Are in the US? – Diana Hull, part 2

 

How Many Illegal Aliens Are in the US? – Fred Elbel

 

How Many Illegal Aliens Are in the US? – Philip Romero

 

Number of illegal immigrants in U.S. may be closer to 20 million

“…In 2005, Bear Stearns analysts determined that the surveys conducted by the Census Bureau undercounted the number of illegal immigrants by far more than 10%. Through discussions with illegal immigrants, Bear Stearns found that immigrants avoid responding to Census questionnaires and work very hard to conceal their identities.

As an alternative to the residual method, Bear Stearns used micro-economic indicators to project an alternative estimate. They examined trends in school enrollment, foreign remittances and housing permits in states with high populations of undocumented immigrants like Texas, California, and New York. 

Underpinning Bear Stearns’ estimate of 20 million illegal immigrants is the identification of two patterns: 1) a trend of sharply increased demand for public services in communities that have become gateways for immigration, and 2) increases in foreign remittances (money sent back to an immigrant’s native country), housing permits and border-crossings.

Given the unrecorded nature of the illegal immigration phenomenon, it’s unlikely that a well-founded or rigorous method of measurement will be developed. The reality is, the math is fuzzy and the most definitive conclusion one can make is that the measurements of illegal immigrants in the U.S. are subject to extreme inaccuracies.”

http://ohmygov.com/blogs/general_news/archive/2008/04/10/number-of-illigral-immigrants-in-u-s-may-be-closer-to-20-million.aspx

 

Planting the seeds of the next shamnesty

By Michelle Malkin  

“…The Hill reports that President Obama will “huddle” with Hispanic Democrats tomorrow to talk “immigration reform.”

Translation: The seeds of the next shamnesty are being planted:

Hispanic Democrats will have their first West Wing meeting with President Obama on Wednesday morning to discuss immigration reform, according to Democratic sources.

The meeting is the first face-to-face sit-down between Obama and the Congressional Hispanic Caucus (CHC) since the president was sworn-in. Some in the CHC have recently expressed frustration that Obama has not talked more about immigration in his first two months in office.

Immigration reform is front-and-center on the group’s agenda.

CHC is eager to hear the president’s ideas and proposals for tackling immigration reform, not only as it relates to a comprehensive reform bill that could provide a pathway to citizenship for millions of undocumented workers but also as it relates to rolling back Bush administration policies of raiding workplaces and detaining and deporting thousands of illegal workers.

CHC members came away from a recent meeting in the Capitol with Department of Homeland Security Secretary Janet Napolitano — a day after her Senate confirmation hearing — very encouraged that the workplace raids policy would be fully reviewed, and possibly altered.

Obama is on board. His DHS secretary is on board. The question is not whether, but when. He spoke to the massive illegal alien shamnesty march in Chicago in 2006, where he boasted of standing “shoulder-to-shoulder” with the open-borders mob. Here’s a flashback: …”

 http://michellemalkin.com/2009/03/17/planting-the-seeds-of-the-next-shamnesty/

 

Obama’s border talk: I call bull

By Michelle Malkin  

 

“…There’s been a bit of a stir over President Obama’s comments suggesting that he is open to the idea of sending National Guard troops down to the southern border to deal with long-festering chaos.

“We’re going to examine whether and if National Guard deployments would make sense and under what circumstances they would make sense,” Obama said during an interview with journalists for regional papers, including a McClatchy reporter.

(link)

Yadda yadda yadda. I call bull.

No meaningful security force will be mobilized along our border.

It will never happen as long as the La Raza/Race lobbyist has a seat at Obama’s table and certainly not as long as DHS is headed by a secretary who is incensed that basic immigration laws are being enforced.

And not as long as the White House is supported and populated by open-borders activists pushing for shamnesty and other illegal immigration-legitimizing measures (hint: Census power grab) designed to boost Democrat voter rolls.

Not going to happen. The state of the borders will remain unsound.

I’d love to be proven wrong.

*** …”

http://michellemalkin.com/2009/03/12/obamas-border-talk-i-call-bull/

 

 THE EMPLOYMENT SITUATION:  FEBRUARY 2009

   Nonfarm payroll employment continued to fall sharply in February (-651,000),
and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today.  Payroll employ-
ment has declined by 2.6 million in the past 4 months.  In February, job
losses were large and widespread across nearly all major industry sectors.

Unemployment (Household Survey Data)

   The number of unemployed persons increased by 851,000 to 12.5 million in
February, and the unemployment rate rose to 8.1 percent.  Over the past 12
months, the number of unemployed persons has increased by about 5.0 million,
and the unemployment rate has risen by 3.3 percentage points.  (See table
A-1.)

   The unemployment rate continued to trend upward in February for adult
men (8.1 percent), adult women (6.7 percent), whites (7.3 percent), blacks
(13.4 percent), and Hispanics (10.9 percent).  The jobless rate for teen-
agers was little changed at 21.6 percent.  The unemployment rate for Asians
was 6.9 percent in February, not seasonally adjusted.  (See tables A-1, A-2,
and A-3.)

   Among the unemployed, the number of job losers and persons who completed
temporary jobs increased by 716,000 to 7.7 million in February.  This mea-
sure has grown by 3.8 million in the last 12 months.  (See table A-8.)

   The number of long-term unemployed (those jobless for 27 weeks or more)
increased by 270,000 to 2.9 million in February.  Over the past 12 months,
the number of long-term unemployed was up by 1.6 million.  (See table A-9.)

http://www.bls.gov/news.release/empsit.nr0.htm

Immigrants in the United States, 2007
A Profile of America’s Foreign-Born Population

November 2007

Steven A. Camarota

Download the .pdf version

  • The nation’s immigrant population (legal and illegal) reached a record of 37.9 million in 2007.
     

  • Immigrants account for one in eight U.S. residents, the highest level in 80 years. In 1970 it was one in 21; in 1980 it was one in 16; and in 1990 it was one in 13.
     

  • Overall, nearly one in three immigrants is an illegal alien. Half of Mexican and Central American immigrants and one-third of South American immigrants are illegal.
     

  • Since 2000, 10.3 million immigrants have arrived — the highest seven-year period of immigration in U.S. history. More than half of post-2000 arrivals (5.6 million) are estimated to be illegal aliens.
     

  • The largest increases in immigrants were in California, Florida, Texas, New Jersey, Illinois, Arizona, Virginia, Maryland, Washington, Georgia, North Carolina, and Pennsylvania.
     

  • Of adult immigrants, 31 percent have not completed high school, compared to 8 percent of natives. Since 2000, immigration increased the number of workers without a high school diploma by 14 percent, and all other workers by 3 percent.
     

  • The share of immigrants and natives who are college graduates is about the same. Immigrants were once much more likely than natives to be college graduates.
     

  • The proportion of immigrant-headed households using at least one major welfare program is 33 percent, compared to 19 percent for native households.
     

  • The poverty rate for immigrants and their U.S.-born children (under 18) is 17 percent, nearly 50 percent higher than the rate for natives and their children.
     

  • 34 percent of immigrants lack health insurance, compared to 13 percent of natives. Immigrants and their U.S.-born children account for 71 percent of the increase in the uninsured since 1989.
     

  • Immigrants make significant progress over time. But even those who have been here for 20 years are more likely to be in poverty, lack insurance, or use welfare than are natives.
     

  • The primary reason for the high rates of immigrant poverty, lack of health insurance, and welfare use is their low education levels, not their legal status or an unwillingness to work.
     

  • Of immigrant households, 82 percent have at least one worker compared to 73 percent of native households.
     

  • There is a worker present in 78 percent of immigrant households using at least one welfare program.
     

  • Immigration accounts for virtually all of the national increase in public school enrollment over the last two decades. In 2007, there were 10.8 million school-age children from immigrant families in the United States.
     

  • Immigrants and natives have similar rates of entrepreneurship — 13 percent of natives and 11 percent of immigrants are self-employed.
     

  • Recent immigration has had no significant impact on the nation’s age structure. Without the 10.3 million post-2000 immigrants, the average age in America would be virtually unchanged at 36.5 years.

 

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Read Full Post | Make a Comment ( 9 so far )

Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand

Posted on March 19, 2009. Filed under: Blogroll, Economics, Employment, Investments, Links, Music, Politics, Quotations, Rants, Raves, Regulations, Taxes, Technology, Video | Tags: , , , , , , |

“Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps.”

“The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution.”

“An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself.”

 

 

~Ludwig von Mises

Why Are Dems Outraged Over AIG Bonuses When They Benefit Too?

 

ABC Panel Discusses AIG Bonuses

 

Glenn Beck – “Congress Using AIG as a Distraction”

 

Glenn Beck on the AIG Government Scam

 

Jim Rogers: Let AIG Go Bankrupt or USA Finished

 

Jim Rogers : Must Let Banks Fail

 

CNBC’s Rick Santelli on AIG Bonuses “No Big Deal”

 

Penn and Teller Explain Sleight of Hand

 

Both President Obama and the Democrats in the House and Senate are going on and on about all those big bad bonuses totaling $165 million that AIG gave its employess.

 

 

The Democratic Party’s radical socialists wanted the bailouts in the first place so they could nationalize or socialize the banking industry that is in financial crisis or trouble over their investments in mortage backed securities and related derivative securities.

I was and remain opposed to any government intervention into the financial markets by providing capital in the form of a loan to prevent a business going into bankruptcy or liquidation.

The bonuses are a contract between the company, AIG, and its employees.

If there had been no bailout of AIG, AIG would be in bankruptcy or liquidation and the the employees’ contracts would have been set aside.

Once the Federal Government bailedout AIG and the funds were now available for bonsues–the contracts were honored and paid.

The Democrats led by Senator Dodd actually put language in the bill that permitted the payment of bonuses by AIG!

 

Sen. Christopher Dodd says he was responsible for the AGI bonus loophole

 

Carl Cameron Reports Sen. Chris Dodd saved AIG Bonuses

 

liberal Hypocrisy- chris dodd The Liar On AIG Bonuses

 
 

Then the Democrats rushed the bills through Congress without even reading their own words!

Congress should be forced to return their own paychecks for not doing their own jobs.

The arrogant and clueless Democrats wanted the bailouts for their friends and campaign contributors on Wall Street.

Obama Fundraising

 

Obama Ranks Second In Freddie/Fannie Contributions

AIG executives who received the bonuses also gave Senator Dodd campaign contributions totaling over $100,000.

“…Dodd’s state of Connecticut is home to a large division of AIG, which has given the former Democratic presidential candidate more money than to any other lawmaker. Dodd received more than $101,000 in campaign donations from AIG employees in 2008 and $223,000 since 2003, according to OpenSecrets.org. …”

http://www.sfexaminer.com/local/Dodd-silent-on-language-in-stimulus-that-allows-AIG-bonuses_03_18-41404342.html

 

Blame the Democrats for this mess and its continuation.

Bailouts beget more bailouts.

Government intervention leads to more government intervention.

Ban Bailouts.

No amount of hand waving and feigned outrage over $165 million in bonuses will distract the American people from the reality that the Democrats want anywhere from $3 trillion ($3,000,000,000,000) to $4 trillion ($4,000,000,000) for the Federal Government to purchase so-called “troubled-asset” or invest additional money in failing companies.

Forget about the bonuses, focus on who AIG in turn sent to the bailout money to meet AIG’s contracts with them and the amounts:

  • Goldman Sachs:                                         $   12,900,000,000 or $12.9 billion
  • Merril Lynch:                                             $    6,800,000,000 or $6.8 billion
  • Bank of America:                                        $    5,200,000,000 or $5,2 billion
  • Citi Group:                                                $    2,300,000,000 or $2.3 billion
  •  Wachovia                                                $    1,500,000,000 or $ 1.5 billion
  • Société Générale of France            nearly  $   12,000,000,000 or $12 billion
  • Deutsche Bank of Germany            nearly  $   12,000,000,000 or $12 billion
  • Barclays of Britain                                   $     8,500,000,000 or $8.5 billion
  • UBS of Switzerland                                  $     5,000,000,000 or $5 billion

The reason AIG was “too big to fail” is that if it were not bailouted, many other financial institutions in the United States and abroad would also be signficantly impacted.

Why is United States bailingout foreign banks, the American people would like to know?

Did executives of Goldman Sachs, Merril Lynch, Bank of America, Citi Group, Wachovia, and AIG make signigicant campaign contributions to the Democratic Party and its candidates including Senator Dodd and President Obama?

You bet they did!

Who was responsible for the irresponsible mortage loans in the first place?

The Democratic Party including the Congressional Black Causus and the Congressional Progressive Causus!

 

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

 

 

Obama & the Congressional Black Caucus are responsible for the financial melt-down

 

The very people that are now complaining  about $166 million in bonuses  paid by AIG to their employees are also the very same people that bear a large share of the blame for causing the financial crisis in real estate mortage loans and related securites!

Keep your eyes on ball and not the the radical socialist sleight of hand.

Forget about the bonuses.

Stop all the bailouts now.

Boycott any company or bank that accepts bailout money. 

Cut Senator and Congress pay in half for financial incompetence.

Better yet fire the greedy, arrogant, stupid bastards!

 LOL

It’s not AIG. It’s the GOV…

A Special Message from Barack Obama’s Teleprompter

 

Incompetent obama’s Teleprompter Crutch- The one Seeks Dialogue With taliban


 

Tarp Song “I Want Some Tarp” by Bill Zucker ” Stimulus and tarp 2 song

 
 

Bailout Figures

Current Bailout Amount: $11,623,630,000,000

“…TARP and the bailouts of Bear Stearns and Citigroup are just the tip of the iceberg. So far, our government committed more than $11.6 TRILLION to funding failed companies (that’s over $60,000 per family in America!), and has spent $3.8 trillion of that in just a few months. (Mouse over the circles below to see the details.)
Yeah, it’s really that bad.

What’s worse? It’s not making a difference. The line for bailouts is growing, and includes the telecom industry, airlines, as well as city and state governments.
We’ve got to do something.

Obama talks a tough game about bailouts, but his own stimulus package and his bank bailout proposal hand BILLIONS more of our dollars to failed companies. …”the gent to DO WHAT’S RIGHT: Stop the bailouts!

http://www.right.org/bailout/main

 

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Huge amounts of AIG bailout went to Goldman Sachs

“Goldman Sachs (GS) seems to do everything right, even in the midst of disaster. It turns out AIG (AIG) paid it large sums of money from funds provided by the government.

According to The Wall Street Journal, Goldman got about $6 billion in the last four months of 2008. “The government’s rescue of AIG helped prevent its counterparties from incurring immediate losses on mortgage-backed securities and other assets they had insured through AIG,” the paper writes

Is it right that Goldman got the money? Almost certainly “yes”

The main reason the the government bailed out AIG was that it did not want to see dozens of financial firms that did business with the large insurer take billions of dollars in losses.

That might have put the global financial system in some jeopardy. Goldman had paid AIG to insure and hedge some of its positions. If AIG collapsed, Goldman and many other firms could have been driven to take write-offs and probably seek new capital. …”

http://www.dailyfinance.com/2009/03/07/huge-amounts-of-aig-bailout-went-to-goldman-sachs/

 

A.I.G. Lists Banks It Paid With U.S. Bailout Funds

A.I.G. also named the 20 largest states, starting with California, that stood to lose billions last fall because A.I.G. was holding money they had raised with bond sales.

In total, A.I.G. named nearly 80 companies and municipalities that benefited most from the Fed rescue, though many more that received smaller payments were left out.

The list, long sought by lawmakers, was released a day after the disclosure that A.I.G. was paying out hundreds of millions of dollars in bonuses to executives at the A.I.G. division where the company’s crisis originated. That drew anger from Democratic and Republican lawmakers alike on Sunday and left the Obama administration scrambling to distance itself from A.I.G. …”

http://www.nytimes.com/2009/03/16/business/16rescue.html

 

 

The Kabuki Theater of AIG Outrage

By Michelle Malkin

“…My syndicated column today looks at the award-winning performances of Washington hypocrites outraged by the AIG entitlement beast they nurtured through four massive bailout infusions. For added comic relief, be sure to read through the entire transcript of Robert Gibbs’ press briefing yesterday. (It’s been sanitized. Just add 25 “ums” during every exchange on AIG and you will ensure accuracy.) This morning, AIG president Edward Liddy will take the hot-seat during a congressional hearing so that his enablers can wag their fingers at him while letting themselves off the hook again. One observer expects “outright talk of nationalization.” The House Financial Services subcommittee hearing begins at 10am Eastern.

As that flogging ritual takes place, hark! Tiny Tim Geithner hears the distant sounds of yonder bus wheels thumping.

On with the show… …”

http://michellemalkin.com/2009/03/18/the-kabuki-theater-of-aig-outrage/

 

Chris Dodd confesses: Yes, I slipped in the AIG bonus protection…’cuz Treasury made me

By Michelle Malkin  

Fall, fall on your sword, ye Purveyor of Hypocritical Indignation.

Via CNN, unscrupulous borrower and No. 1 AIG benefactor Chris Dodd admits that yes, yes, he did support AIG bonus protections before he was against them: …”

http://michellemalkin.com/2009/03/18/chris-dodd-confesses-yes-i-slipped-in-the-aig-bonus-protection/

 

How AIG — read: you and I — are bailing out the world

By Michelle Malkin  

“…Bob Owens keeps his eye on the ball and breaks it down:

Barack Obama’s lack of leadership in a down economy has now hit crisis proportions, as his claimed inability to block millions of dollars in bonuses for executives of bailout recipient AIG has caused even his supporters to turn on him.

But while the ire of Congress and the media focus are on the $165 million that AIG paid out in bonuses to their executives, the president is hoping you won’t notice the $100 billion in taxpayer bailout dollars that AIG paid out to other banks, including $58 billion to foreign banks and $36 billion given to French and German banks alone.

The Obama administration is allowing AIG to bail out the rest of the world with your tax dollars.

So by all means, the president is happy to have you railing at “evil” but relatively small potatoes AIG executive bonuses, as it points your outrage away from his own far more costly executive abuses.

And of course, the re-distributor-in-chief hopes you won’t notice where much of the rest of the AIG bailout cash is being spent.

While $58 billion of your tax dollars — or more accurately, your children’s tax dollars — are being used to pay foreign banks, a substantial portion of that money ($43.5 billion) is being used to pay American banks, including Goldman Sachs, Merill Lynch, Bank of America, Citigroup, Wachovia, Morgan Stanley, AIG International, and JP Morgan. …”

http://michellemalkin.com/2009/03/17/how-aig-read-you-and-i-are-bailing-out-the-world/ 

 

Troubled Asset Relief Program

“…TARP” redirects here. For other uses, see Tarp.

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the government’s measures in 2008 to address the subprime mortgage crisis.

TARP allows the United States Department of the Treasury to purchase or insure up to $700 billion of “troubled” assets. “Troubled assets” are defined as “(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.” [1]

In short, this allows the Treasury to purchase nonliquid, difficult-to-value assets from banks and other financial institutions. The targeted assets can be collateralized debt obligations, which were sold in a booming market until 2007 when they were hit by widespread foreclosures on the underlying loans. TARP is intended to improve the liquidity of these assets by purchasing them using secondary market mechanisms, thus allowing participating institutions to stabilize their balance sheets and avoid further losses.

TARP does not allow banks to recoup losses already incurred on troubled assets, but officials hope that once trading of these assets resumes, their prices will stabilize and ultimately increase in value, resulting in gains to both participating banks and the Treasury itself. The concept of future gains from troubled assets comes from opinion in the financial industry that these assets are oversold, as only a small percentage of all mortgages are in default, while the relative fall in prices represents losses from a much higher default rate.

The Act requires financial institutions selling assets to TARP to issue equity warrants (a type of security that entitles its holder to purchase shares in the company issuing the security for a specific price), or equity or senior debt securities (for non-publicly listed companies) to the Treasury. In the case of warrants, the Treasury will only receive warrants for non-voting shares, or will agree not to vote the stock. This measure is designed to protect taxpayers by giving the Treasury the possibility of profiting through its new ownership stakes in these institutions. Ideally, if the financial institutions benefit from government assistance and recover their former strength, the government will also be able to profit from their recovery.[2]

Another important goal of TARP is to encourage banks to resume lending again at levels seen before the crisis, both to each other and to consumers and businesses. If TARP can stabilize bank capital ratios, it should theoretically allow them to increase lending instead of hoarding cash to cushion against future, unforeseen losses from troubled assets. Increased lending equates to ‘loosening’ of credit, which the government hopes will restore order to the financial markets and improve investor confidence in financial institutions and the markets. As banks gain increased lending confidence, the interbank lending interest rates (the rates at which the banks lend to each other on a short term basis) should decrease, further facilitating lending.[2]

The TARP will operate as a “revolving purchase facility.” The Treasury will have a set spending limit, $250 billion at the start of the program, with which it will purchase the assets and then either sell them or hold the assets and collect the ‘coupons’. The money received from sales and coupons will go back into the pool, facilitating the purchase of more assets. The initial $250 billion can be increased to $350 billion upon the President’s certification to Congress that such an increase is necessary.[3] The remaining $350 billion may be released to the Treasury upon a written report to Congress from the Treasury with details of its plan for the money. Congress then has 15 days to vote to disapprove the increase before the money will be automatically released.[2]. The first $350 billion was released on October 3, 2008, and Congress voted to approve the release of the second $350 billion on January 15, 2009. One way that TARP money is being spend is to support the “Making Homes Affordable” plan that is being implemented as of March 4, 2009, using TARP money by the Department of Treasury. Because “at risk” mortgages are defined as “troubled assets” under TARP, the Treasury has the power to implement the “Making Homes Affordable” plan. Generally, the Plan will provide refinancing for mortgages held by Fannie Mae or Freddie Mac. Privately held mortgages will be eligible for other incentives, including a favorable loan modification for five years.[4]

The authority of the United States Department of the Treasury to establish and manage TARP under a newly created Office of Financial Stability became law October 3, 2008, the result of an initial proposal that ultimately was passed by Congress as H.R. 1424, enacting the Emergency Economic Stabilization Act of 2008 and several other acts.[5][6]

 …”

http://en.wikipedia.org/wiki/TARP

Our Mission at AIG: Repairs, and Repayment

By Edward M. Liddy

“The government rescue of American International Group (AIG) and other financial firms has produced a palpable wave of anger on the part of Americans and a rising public demand for accountability from corporate and government leaders.

The anger is understandable, and I share it. I have been fortunate in more than three decades in business to see firsthand the wealth creation that well-managed American companies bring to their employees and their communities. I have seen the good side of capitalism. But over the past six months, since agreeing to take the reins of AIG and reviewing how it was run in prior years, I have also seen instances of the bad side of capitalism.

Mistakes were made at AIG, and on a scale that few could have imagined possible. The most egregious of those began in 1987, when the company strayed from its core insurance competencies to launch a credit-default-swaps portfolio, which eventually became subject to massive collateral calls that created a liquidity crisis for AIG. Its missteps have exacted a high price, not only for the company and its employees but for the American taxpayer, the federal government’s finances and the global economy. These missteps brought AIG to the brink of collapse and to the government for help. …”

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031703019.html

 

Tim Geithner interviewed by Rose pt 1 of 6

 

Tim Geithner interviewed by Rose pt 2 of 6

 

Tim Geithner interviewed by Rose pt 3 of 6

 

Tim Geithner interviewed by Rose pt 4 of 6

 

Tim Geithner interviewed by Rose pt 5 of 6

 

Tim Geithner interviewed by Rose pt 6 of 6

 

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Rod Stewart–Videos

Posted on March 18, 2009. Filed under: Art, Blogroll, Life, Links, Music, People, Quotations, Raves, Video | Tags: , , , , |

rod_stewart_young

 “A show is like having a climax. It’s like having an incredible, natural climax. And then suddenly it’s all finished, and you don’t know what to do next.”

 

What a Wonderful World – Rod Stewart 

 

Rod Stewart & Faces-It’s All Over Now+Take a Look at the Guy

Rod Stewart – Hot legs 1978

 

Sailing Rod Stewart

http://www.youtube.com/watch?v=zW2-_01i48w

 

 

 

Rod Stewart-You’re in my heart

 

ROD STEWART / DA YA THINK I’M SEXY ― TWISTIN’ THE NIGHT AWAY

 

 

http://www.youtube.com/watch?v=ewSWKuouHZ8&feature=related

 

Rod Stewart-It’s A Heartache

Rod Stewart – Father and Son + It’s A Heartache

Rod Stewart – Time After Time

The way you look tonight

Blue Moon

They can’t take that away from me

As Time Goes By

Stardust – Rod Stewart

Rod Stewart- For Sentimental Reasons


 

Rod Stewart – I got a crush on you

 

Rod Stewart – People Get Ready

http://www.youtube.com/watch?v=TdtX0rdWrx4&feature=related

 

http://www.youtube.com/watch?v=fUpzbaM2buY&feature=related

 

Rod Stewart – Maggie May 

 

Rod Stewart – Have You Ever Seen The Rain

http://www.youtube.com/watch?v=8ogb3NHtTvw&feature=related

 

 

Rod Stewart-Have I told you lately

 

Rod Stewart – Fooled Around And Fell In Love

http://www.youtube.com/watch?v=F0Mnj1cSESg&feature=related

 

http://www.youtube.com/watch?v=F0Mnj1cSESg

 

Rod Stewart-Baby It’s Cold Outside

The way you look tonight – Rod Stewart

Rod Stewart-I Wish You Love

 

First Cut is the Deepest – by Rod Stewart

 

ROD STEWART – Addicted to love

 

ROD STEWART / REASON TO BELIEVE

 

 

Rod Stewart – Rhythm of my Heart

 

 

Missing You Rod Stewart

 

ROD STEWART / THIS OLD HEART OF MINE 

 

ROD STEWART / SWEET LITTLE ROCK’N ROLLER

 

Rod Stewart & Amy Belle- I don’t wanna talk about it..

rod_stewart1

 

       “I want to go out at the top, but the secret is knowing when you’re at the top, it’s so difficult in this business, your career fluctuates all the time, up and down, like a pair of trousers.” 

 

Background Articles and Videos

Rod Stewart

“Roderick David “Rod” Stewart CBE (born 10 January 1945) is a British singer and songwriter born and raised in London, England and currently residing in Epping. He has Scottish and English parentage.

With his distinctive raspy voice, Stewart came to prominence in the late 1960s and early ’70s with The Jeff Beck Group and then Faces. He launched his solo career in 1969 with his debut album An Old Raincoat Won’t Ever Let You Down. His work with The Jeff Beck Group and The Faces proved to be influential on the formation of the heavy metal and punk rock genres, respectively.[1][2] Both bands were also pioneers of blues-rock.

With his career in its fifth decade, Stewart has achieved numerous solo hit singles worldwide, most notably in the UK, where he has garnered six consecutive number one albums and his tally of 62 hit singles include 31 that reached the top 10, six of which gained the number one position. He has also had 16 top ten singles in the USA, with four of these reaching number one. His most-known solo hit singles are “Maggie May”, “You Wear It Well”, “Sailing”, “Tonight’s the Night (Gonna Be Alright)”, “Hot Legs”, “Da Ya Think I’m Sexy?”, “Forever Young” and “Rhythm of My Heart.” It has been estimated that Stewart’s album and single sales total more than 250 million,[3] earning him a place on the list of best-selling music artists. …”

http://en.wikipedia.org/wiki/Rod_Stewart

 

Rod Stewart interview – part one – Parkinson – BBC

http://www.youtube.com/watch?v=RUkNGGQFGhU

Rod Stewart interview – part two – Parkinson – BBC

http://www.youtube.com/watch?v=fdyPcYi9qm4&feature=SeriesPlayList&p=FF59A85C1C868DED&index=64

Andrew Denton interviews Rod Stewart – Part 1

Andrew Denton interviews Rod Stewart – Part 2

Andrew Denton interviews Rod Stewart – Part 3

ROD STEWART / interview ― ALL FOR LOVE

Kenny Everett as Rod Stewart

Rod Stewart – Maggie May (Kenny Everett Video Show)

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One Big Awful Mistake America (OBAMA): Veterans Will Now Lead The Fight To Defeat Radical Socialism!

Posted on March 17, 2009. Filed under: Blogroll, Economics, Employment, Health Care, Life, Links, People, Politics, Quotations, Rants, Security, Taxes, War | Tags: , , , , , , , , , , , , , , |

 

Please Help Spread The Message of Liberty

 

obama_mistake

 

“Duty, Honor, Country: Those three hallowed words reverently dictate what you ought to be, what you can be, what you will be. They are your rallying points: to build courage when courage seems to fail; to regain faith when there seems to be little cause for faith; to create hope when hope becomes forlorn.”

~General Douglas MacArthur 

 “…

February 27, 2009

The Honorable Barack Obama

President of the United States

The White House

Washington, DC

Dear President Obama:

On behalf of the millions of veterans represented by the veterans and military service organizations that have joined our effort, we write to express our serious concerns about a policy proposal that has been discussed this week in conjunction with the release of your first budget. We have been told that your Administration may be considering a proposal that would allow the Department of Veterans Affairs (VA) health care system to bill a veteran’s insurance for the care and treatment of a disability or injury that was determined to have been incurred in or the result of the veteran’s honorable military service to our country. Such a consideration is wholly unacceptable and a total abrogation of our government’s moral and legal responsibility to the men and women who have sacrificed so much for our freedoms.

As you know, the mission of the VA is “To care for him who shall have borne the battle, and for his widow, and his orphan.” Similarly, the VA emphasizes that it will “provide veterans the world-class benefits and services they have earned—and to do so by adhering to the highest standards of compassion, commitment, excellence, professionalism, integrity, accountability, and stewardship.” Unfortunately, the proposal to bill veterans for the care of their service-connected disabilities ignores the most important aspect of this vision—that their care has been earned.

This proposal ignores the solemn obligation that this country has to care for those men and women who have served this country with distinction and were left with the wounds and scars of that service. The blood spilled in service for this nation is the premium that service-connected veterans have paid for their earned care.

We understand and accept that the VA bills third-party insurers of veterans who are treated for non-service connected conditions. However, we cannot and would not agree to any proposal that would expand this concept any further. There is simply no logical explanation for billing a veteran’s personal insurance for care that the VA has a responsibility to provide. …”  

http://www.dav.org/news/documents/LettertoPresidentObama.pdf 

 

Fox & Friends claims President Obama will force War Veterans to pay for their medical coverage

 

Rachel Maddow on Obama’s Veterans Adm. Controversy

  

The current President of the United States, Barack Obama, has a well deserved reputation for being arrogant, a liar, teleprompter reader and a radical socialist.

It was only a matter of time before he would make a big awful mistake that would outrage the vast majority of the American people.

The issue is a proposed policy that would charge a veteran’s private health insurance for service-related injuries and ailments.

This would shift the cost for medical care of veterans from the Federal government to private insurance carriers and in turn employers and employees.

Everyone’s health insurance premiums would go up including that portion paid by the employee.

The change would mean that veterans would now be responsible for paying for medical treatment for their service-related injuries and ailments.

This has truly outraged all veterans and veteran organizations, who view the policy as a betrayal of veterans.

Only an totally inexperienced, incompetent and clueless radical socialist like President Obama would propose such a change.

This is a national disgrace.

Both Republicans and Democrats, conservatives and liberals, will quickly realize that this proposed change is a big vote loser for it will be remembered when Americans vote again.

If President Obama goes forward with this new policy, I urge General  Shineseki, Secretary of Veterans Affairs, to do the right thing and resign in protest:

 

Gen. Shinseki as Secretary of Veterans Affairs

 

Once Obama is correctly perceived as the enemy of veterans, he will soon become an enemy of the American people.

When the unemployment rate exceeds 10% in July with over 17 million unemployed, the hope and change President’s honeymoon will be over.

The Tea Parties all of the United States are growing in number and size daily as the American people protest One Big Awful Mistake America!

Join the second American Revolution!

 

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“It’s a betrayal,” 

 “My insurance company didn’t send me to Vietnam, my government did.

The same holds true for men and women now fighting in Iraq and Afghanistan. It’s the government’s responsibility.”

~Joe Violante, legislative director of Disabled American Veterans

 

 Dear Mr. Obama

 

red_socialism

 

 UPDATE:

Look like even President Obama knows when he has a real loser of a proposal.

Obama drops vet medical plan

Heeds public, military outcry

(Contact)
Thursday, March 19, 2009

“…The Obama administration dropped a proposal to require some disabled veterans to pay for medical treatments through their private insurance companies, heeding a chorus of outrage from veterans groups and Capitol Hill lawmakers who said the idea was immoral, unconscionable and un-American.

The White House decided to scrap the plan after meeting with a contingent of veterans and military advocacy groups on Wednesday for the second time this week.

“In considering the third-party billing issue, the administration was seeking to maximize the resources available for veterans,” said White House spokesman Robert Gibbs. “However, the president listened to concerns raised by the [veterans groups] that this might, under certain circumstances, affect veterans and their families’ ability to access health care.”

The proposal, which the administration said was never a certainty, called for generating an estimated $540 million in savings by tapping veterans’ private insurance for service-related injuries and ailments that for decades the government has been obligated to pay. …”

http://www.washingtontimes.com/news/2009/mar/19/obama-drops-disputed-vet-medical-plan/

 

 

 

Background Articles and Videos

 

The President has Crossed My Line

Posted by USWeapon on March 17, 2009

“…It boggles the mind that any administration, even one so in left field (pun intended) as that of Barack Obama, would even consider such a thing. One of the sacred trusts that a grateful nation gives to the men and women who choose to place their bodies between the rest of us and those who mean to do us harm is that the wounds and ailments they receive during their service will be treated by that grateful nation. To try to shed that obligation is a violation of that trust.

What this means is that it will be harder for veterans to get private insurance. What private health insurance company wants to take on a veteran with a pre-existing condition that the government (the one payee the insurance companies have to pay when requested) is going to require them to pay for treatment for? What private insurance company is going to want to insure a veteran currently serving their country when his or her job requires being put in harm’s way? As it is they jack up your insurance premium if you smoke because it might cause you health problems in the future. How much will they jack up the premium for someone stepping into the line of fire?

Additionally the costly care for service related injuries could quickly max out the limits of what private health insurance companies will provide, leaving veterans and their families struggling to come up with the money to pay for children’s flu shots or an arm broken while playing in the back yard. Add this into the fact that the service to the country has already cost this veteran a limb, or an eye, or even their sanity. The list of jobs they are able to do is already dramatically shorter than it is for most of us. And you want them to pay more?

I could chalk this up as just another lie from Obama, who campaigned on the promise that he would work to take care of veterans. From the “Obama/Biden 2008″ website:

  • Barack Obama will restore our sacred trust with our nation’s veterans: Obama and Biden are committed to creating a 21st Century Department of Veterans’ Affairs that provides the care and benefits our nation’s veterans deserve.

  • Help returning service members: Obama and Biden will improve the quality of health care for veterans, rebuild the VA’s broken benefits system, and combat homelessness among veterans.

  • Improve mental health treatment: Obama and Biden will improve mental health treatment for troops and veterans suffering from combat-related psychological injuries.

But I am not going to just chalk this up as another lie from Obama. This is more than just a lie to me. This is a blatant slap in the face of every veteran in the United States from a President who has never served his country in the military. Let us hope that perhaps this is on the advice of some crazy cabinet member and that he will have the good sense to tell them to go to hell. But it sure doesn’t look that way.  …”

http://standupforamerica.wordpress.com/2009/03/17/the-president-has-crossed-my-line/ 

 

Obama VA: Let’s charge vets for care on service-related injuriesposted at 10:57 am on March 12, 2009 by Ed Morrissey

“If the Obama administration wanted to come up with the most politically offensive policy it could imagine, within the bounds of reason and reality, what elements would it have to include? Insulting veterans and looking like cheapskates in a time when massive government outlays to private industry would certainly help it along. Comes now Hero of the Anti-War Left, retired General Eric Shinseki, who wants to save a few bucks at the Veterans Administration by making men and women injured in the service of our country pay for their care:
Veterans Affairs Secretary Eric Shinseki confirmed Tuesday that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance. …
No official proposal to create such a program has been announced publicly, but veterans groups wrote a pre-emptive letter last week to President Obama voicing their opposition to the idea after hearing the plan was under consideration.
The groups also cited an increase in “third-party collections” estimated in the 2010 budget proposal — something they said could be achieved only if the Veterans Administration started billing for service-related injuries.
Asked about the proposal, Shinseki said it was under “consideration.”
“A final decision hasn’t been made yet,” he said.
Let’s see. The same administration that wants to give tens of billions of dollars to GM, Citigroup, AIG, and a host of other banks and manufacturers wants men and women injured in service to their country to pay for the medical care that arises from these injuries? In what universe does Shinseki and the Obama administration live, anyway?

http://hotair.com/archives/2009/03/12/obama-va-lets-charge-vets-for-care-on-service-related-injuries/    

 

Obama May Charge Veterans’ Private Health Insurance for Service-Related Ailments
Tuesday, March 17, 2009
By Fred Lucas, Staff Writer

“The Obama administration is considering a plan to charge the private health insurance of veterans for treatment of service-related ailments that currently are paid for by the Department of Veterans Affairs — a potential change that has veterans’ groups outraged.

“Such a consideration is wholly unacceptable and a total abrogation of our government’s moral obligation and legal responsibility to the men and women who have sacrificed so much for our freedom,” said a letter to President Barack Obama signed by the leaders of 11 prominent veteran organizations.

Several leaders of veteran groups met with Obama administration officials Monday at the White House about the overall budget for the Department of Veterans Affairs (VA).

Last week, Veterans Affairs Secretary Eric Shinseki confirmed to the House and Senate committees on veterans’ affairs that the idea to bill veterans’ private individual insurance was being considered by the administration but was not yet a formal proposal.

“It is a consideration. It is not in the budget, but it is a consideration, and I’ll be sure that your concerns are delivered,” Shinseki told the House Veterans’ Affairs Committee. “And again, we’re talking — in health care — the two aspects of this are delivery of health care and the financing of it. This is about the financing. I want to assure you that there should be no concern about the delivery.”

Currently, the VA covers the full cost of medical ailments related to military service and bills third-party insurers for non-service related injuries. For example, if an injured veteran is treated for the flu, the veteran’s personal insurance is billed. If the injured veteran is treated for a service-related injury and requires hearing aids or prosthetics, for example, the VA covers the cost. …”

http://hotair.com/archives/2009/03/12/obama-va-lets-charge-vets-for-care-on-service-related-injuries/ 

 

Veterans Groups Blast Obama Plan for Private Insurance to Pay for Service-Related Health Care

President Obama’s plan to require private insurance carriers to reimburse the Department of Veterans Affairs for the treatment of troops injured in service has angered veterans groups who say the government has a moral obligation to pay for service-related medical care. 

President Obama’s plan to require private insurance carriers to reimburse the Department of Veterans Affairs for the treatment of troops injured in service has infuriated veterans groups who say the government is morally obligated to pay for service-related medical care.

Calling it a “desperate search for money at any cost,” Craig Roberts, media relations manager for the American Legion, told FOXNews.com on Tuesday that the president will “wish away so much political capital on this issue” if he continues to insist on private coverage for service-related injuries.

Cmdr. David K. Rehbein of the American Legion, the nation’s largest veterans group, called the president’s plan to raise $540 million from private insurers unreasonable, unworkable and immoral.

“This reimbursement plan would be inconsistent with the mandate ‘to care for him who shall have borne the battle,’ given that the United States government sent members of the Armed Forces into harm’s way, and not private insurance companies,” Rehbein said late Monday after a meeting with the president and administration officials at the Veterans Affairs Department.

“I say again that The American Legion does not and will not support any plan that seeks to bill a veteran for treatment of a service-connected disability at the very agency that was created to treat the unique need of America’s veterans,” Rehbein said.

Roberts said that 11 veterans service organizations were told to come up with another plan if they didn’t like this one. The groups met on Monday with Obama, Chief of Staff Rahm Emanuel, Veterans Affairs Secretary Eric Shinseki and Office of Management and Budget defense spending chief Steven Kosiak.

http://www.foxnews.com/politics/first100days/2009/03/17/vets-group-blasts-obama-plan-private-insurance-pay-service-related-health-care/ 

 

 Obama’s Plan to Cheat Disabled Troops out of Medical Care they Deserved

“…Again, the practice of reimbursement for non-service connected care has been going on for a while. According to Military.com, the VA already taps “third party” insurance plans for treatment of non-service related conditions. These collections in 2008 were about 2.4 billion. However Obama’s plan now calls for collection of my insurance for my service-connected disability and this is an outrage. Mr. Obama who never served has no right – even as President – to strip the benefit we had to suffer to get.

If Obama wants “war” over this issue he will surely see it. As a member of the Disable American Veterans of America we have sent Obama this letter. It won’t be the end. Veterans groups are going to begin to hold any public servant responsible for any effort to approve this measure, and brand them an enemy of veterans if they do so. We are also prepared to hold VA Secretary Eric K. Shinseki responsible. He knows his responsibility to the veterans of America and he’d damn sure better live up to them.

http://macsmind.com/wordpress/2009/03/16/obamas-plan-to-cheat-disabled-troops-out-of-medical-care-they-deserved/

 

Department of Veterans Affairs

http://www.va.gov/

 

THE EMPLOYMENT SITUATION:  FEBRUARY 2009

   Nonfarm payroll employment continued to fall sharply in February (-651,000),
and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today.  Payroll employ-
ment has declined by 2.6 million in the past 4 months.  In February, job
losses were large and widespread across nearly all major industry sectors.

Unemployment (Household Survey Data)

   The number of unemployed persons increased by 851,000 to 12.5 million in
February, and the unemployment rate rose to 8.1 percent.  Over the past 12
months, the number of unemployed persons has increased by about 5.0 million,
and the unemployment rate has risen by 3.3 percentage points.  (See table
A-1.)

   The unemployment rate continued to trend upward in February for adult
men (8.1 percent), adult women (6.7 percent), whites (7.3 percent), blacks
(13.4 percent), and Hispanics (10.9 percent).  The jobless rate for teen-
agers was little changed at 21.6 percent.  The unemployment rate for Asians
was 6.9 percent in February, not seasonally adjusted.  (See tables A-1, A-2,
and A-3.)

   Among the unemployed, the number of job losers and persons who completed
temporary jobs increased by 716,000 to 7.7 million in February.  This mea-
sure has grown by 3.8 million in the last 12 months.  (See table A-8.)

   The number of long-term unemployed (those jobless for 27 weeks or more)
increased by 270,000 to 2.9 million in February.  Over the past 12 months,
the number of long-term unemployed was up by 1.6 million.  (See table A-9.)

http://www.bls.gov/news.release/empsit.nr0.htm

 

Obama Approval Index History

“…The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 37% of the nation’s voters now Strongly Approve of the way that Barack Obama is performing his role as President. Thirty-two percent (32%) now Strongly Disapprove giving Obama a Presidential Approval Index rating of +5 (see trends).

The Presidential Approval Index is calculated by subtracting the number who Strongly Disapprove from the number who Strongly Approve. It is updated daily at 9:30 a.m. Eastern (sign up for free daily e-mail update). Updates also available on Twitter.  …”

http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

http://www.rasmussenreports.com/public_content/politics/obama_administration/obama_approval_index_history 

 

Obama mulls making vets foot bill for service injuries

“Dead on arrival” is how Democratic Sen. Patty Murray of Washington described the idea.

“ . . . when our troops are injured while serving our country, we should take care of those injuries completely,” Murray, a member of the Senate Veterans Affairs Committee, told a hearing last week.

Secretary of Veterans Affairs Eric Shinseki said at the same hearing that the plan was “a consideration.” He also acknowledged that the VA’s proposed budget for next year included it as a way to increase revenue. But he told the committee that “a final decision hasn’t been made yet.”

For veterans, that was little comfort.

Veterans claim that the costs of treating expensive war injuries could raise their insurance costs, as well as those for their employers. Some worried that it also could make it more difficult for disabled veterans to find work. …”

“It’s a betrayal,” said Joe Violante, legislative director of Disabled American Veterans, which signed the letter to Obama. “My insurance company didn’t send me to Vietnam, my government did. The same holds true for men and women now fighting in Iraq and Afghanistan. It’s the government’s responsibility.”

Meanwhile, a new poll by the independent Pew Research Center for the People & the Press has found Obama’s approval rating falling to 59 percent from 64 percent in February. It also found the ranks of Americans who disapprove of his job performance rising, to 26 percent from 17 percent.

Pew found that 44 percent think that the president listens more to liberals than to moderates in his party, while 30 percent think he listens more to moderates. In January, 44 percent thought he listened more to moderates and 34 percent more to liberals.”

http://www.buffalonews.com/180/story/610029.html 

 

No duh! White House “worried about bailout backlash”

By Michelle Malkin

“…With a few notable exceptions, the national media has ignored the tax revolt movement against the porkulus package, omni-pork spending bill, and bottomless bailouts that began in Seattle on President’s Day; continued in Denver on the day of the Generational Theft Act signing; spread to Mesa AZ during President Obama’s massive mortgage entitlement push; spurred protest in Overland Park KS; and evolved into the Tea Party movement across the country.

But local politicians and local newspapers/TV are definitely on notice. Thousands of folks converging in places like St. Louis (1,500), Greenville (2,000), Fullerton (est. 15,000), and Cincinnati (5,000) are getting harder to ignore.

And now, it seems, word is getting around in Washington. The White House, the NYTimes (which has mocked the tax revolters) tells us, is worried about a populist backlash against bailout-mania. Naw. Really? You don’t say: …”

http://michellemalkin.com/2009/03/16/no-duh-white-house-worried-about-bailout-backlash/

Obama: I’m not a socialist, I just play one on TV

By Michelle Malkin  

“…Comedy gold to kick off a new week of market turmoil and Treasury Department incompetence: Barack Obama phoned up the New York Times to clarify, uh, that he’s not really a socialist because an unnamed former administration (here, Barry, let me help you: Bush the pre-socializer) poured billions of tax dollars into failing business, so, uh, he didn’t start it. He’s not a socialist. He just plays one on TV.

Behold the role model of personal responsibility: …”

http://michellemalkin.com/2009/03/09/obama-im-not-a-socialist-i-just-play-one-on-tv/

 

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When The Videos Stop Playing On You Tube!

Posted on March 16, 2009. Filed under: Blogroll, Computers, Links, People, Programming, Rants, Video | Tags: , , , , , , , |

youtube-logo 

 

Many viewers of YouTube were getting this error message on Sunday, March 15, 2009:

Hello, you either have JavaScript turned off or an old version of Adobe’s Flash Player. Get the latest Flash player.

Well not so fast.

First, I had JavaScript turned on.

Second, I downloaded the lastest version of the Adobe Flash Player.

Apparently, this is not the first time this problem has happened.

http://forums.techguy.org/multimedia/526305-hello-you-either-have-javascript.html

http://answers.yahoo.com/question/index?qid=20080330145347AA6eHX8 

This is just the type of problem that should have been avoided had both YouTube and Adobe tested their code before releasing live to world.

Videos are still not playing on YouTube.

However they work perfectly fine on this blog where they are embedded.

I posted on Microsoft’s Channel 9 Coffeehouse to see if any developer were getting the same error message and what they did about it:

http://channel9.msdn.com/forums/Coffeehouse/461080-YouTube-or-Adobe-Screwed-Up-Looks-Like-Adobe/

This may be helpful for all of you that are having this problem:

 

Seeing your post made me actually get round to fixing it, go here, run the uninstaller and the go to flash.com and reinstall it, all works again.

Google who owns YouTube and Adobe need to get their act together, this should not happen!

The whole situation reminds me of a Bugs Bunny Bloopers Cartoon:

(Blooper) Bunny! (1991) – HQ

Start Me Up

http://www.youtube.com/watch?v=Cpd3v4wwThE

Background Articles and Information

Software Bug

A software bug is an error, flaw, mistake, failure, or fault in a computer program that prevents it from behaving as intended (e.g., producing an incorrect or unexpected result). Most bugs arise from mistakes and errors made by people in either a program’s source code or its design, and a few are caused by compilers producing incorrect code. A program that contains a large number of bugs, and/or bugs that seriously interfere with its functionality, is said to be buggy. Reports detailing bugs in a program are commonly known as bug reports, fault reports, problem reports, trouble reports, change requests, and so forth.

http://en.wikipedia.org/wiki/Software_bug

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The Rolling Stones–Videos

Posted on March 14, 2009. Filed under: Blogroll, Communications, Life, Links, Music, People, Quotations, Raves, Video | Tags: , , , , , , |

 the_rolling_stones

The Rolling Stones – 1964

The Rolling Stones-The Last time

The Rolling Stones – Not Fade Away

Rolling Stones – It’s all over now

The Rolling Stones – Have Mercy (1965)

Rolling Stones – I’m Alright – 1965

http://www.youtube.com/watch?v=jc-P5K429Os&feature=related

The Rolling Stones – Satisfaction

The Rolling Stones – Under My Thumb


The Rolling Stones – You Can’t Always Get What You Want

Rolling Stones – Honky Tonk Woman

Jumping Jack Flash

The Rolling Stones – Paint it black

The Rolling Stones – Brown Sugar

Gimme Shelter – The Rolling Stones

The Rolling Stones-Sympathy For The Devil

Angie – The Rolling Stones

Gimme Shelter 1969 – The Rolling Stone

Rolling Stones – Gimme Shelter

The Rolling Stones – Gimme Shelter (Live)

Start me up

Wild Horses – Rolling Stones

http://www.youtube.com/watch?v=KQx6YJnF7t8&feature=related

The Rolling stones – Anybody seen my baby

the_rolling_stones_color

Background Articles and Videos

The Rolling Stones

“The Rolling Stones are an English rock band formed in 1962 in London when multi-instrumentalist Brian Jones and pianist Ian Stewart were joined by vocalist Mick Jagger and guitarist Keith Richards. Bassist Bill Wyman and drummer Charlie Watts completed the early lineup. Stewart, deemed unsuitable as a teen idol, was removed from the official lineup in 1963 but continued to work with the band as road manager and keyboardist until his death in 1985.

Jagger and Richards early on formed a songwriting partnership and gradually took over leadership of the band from the increasingly troubled and erratic Jones. At first the group recorded mainly covers of American blues and R&B songs, but since the 1966 album Aftermath, their releases have mainly featured Jagger/Richards songs. Mick Taylor replaced an incapacitated Jones shortly before Jones’s death in 1969. Taylor quit in 1974, and was replaced in 1975 by Faces guitarist Ronnie Wood, who has remained with the band ever since. Wyman left the Rolling Stones in 1992; bassist Darryl Jones, who is not an official band member, has worked with the group since 1994.

First popular in the UK and Europe, The Rolling Stones came to the US during the early 1960s “British Invasion”. The Rolling Stones have released 22 studio albums in the UK (24 in the US), eight concert albums (nine in the US) and numerous compilations; and have sold more than 600 million albums worldwide.[1] Their latest album, A Bigger Bang, was released in 2005. Sticky Fingers (1971) began a string of eight consecutive studio albums that charted at number one in the United States. In 1989 The Rolling Stones were inducted into the Rock and Roll Hall of Fame, and in 2004 they were ranked number 4 in Rolling Stone magazine’s 100 Greatest Artists of All Time. Their image of unkempt and surly youth is one that many musicians still emulate. …”

http://en.wikipedia.org/wiki/The_Rolling_Stones

Rollingstones.com

http://www.rollingstones.com/home.php

Mick Jagger interview closeup 1968

Rolling Stones Hillarious Interviews

Rolling Stones – Interview 1965 – Denmark

1970′s Mick Jagger interview for the BBC

Rolling Stones – Mick Jagger Interview 1971

Jim Morrison: Rare 1971 Rolling Stones Interview: 1 of 8

http://www.youtube.com/watch?v=DIcfhsS_JB4

Jim Morrison: Rare 1971 Rolling Stones Interview: 2 of 8

http://www.youtube.com/watch?v=kHnMX6UQ3PU

Jim Morrison: Rare 1971 Rolling Stones Interview: 3 of 8

http://www.youtube.com/watch?v=GmV6ufBr2x0

Jim Morrison: Rare 1971 Rolling Stones Interview: 4 of 8

Jim Morrison: Rare 1971 Rolling Stones Interview: 5 of 8

http://www.youtube.com/watch?v=ojCkR3lX_F4

Jim Morrison: Rare 1971 Rolling Stones Interview: 6 of 8

http://www.youtube.com/watch?v=vPw9TOdqtJw

Jim Morrison: Rare 1971 Rolling Stones Interview: 7 of 8

http://www.youtube.com/watch?v=JAdbYJjtaVE

Jim Morrison: Rare 1971 Rolling Stones Interview: 8 of 8

http://www.youtube.com/watch?v=CRH9EVEA4J0

Rolling Stones – “20/20″ Interview 1989 Part 1 of 2

Rolling Stones – “20/20″ Interview 1989 Part 2 of 2

Conversations With The Rolling Stones 1994 Part 1 of 3

http://www.youtube.com/watch?v=I-FP3bhzOjg

Conversations With The Rolling Stones 1994 Part 2 of 3

http://www.youtube.com/watch?v=1rAcHatmI1M

Conversations With The Rolling Stones 1994 Part 3 of 3

http://www.youtube.com/watch?v=sdRoh1zylIc&feature=related

Rolling Stones – “60 Minutes” Interview 1994 Part 1 of 2

Rolling Stones – “60 Minutes” Interview 1994 Part 2 of 2

Rolling Stones – Keith Richards “1 To One” 1995 Pt 1 of 3

http://www.youtube.com/watch?v=bEQIxk-D2oE

Rolling Stones – Keith Richards “1 To One” 1995 Pt 2 of 3

http://www.youtube.com/watch?v=73QlVCTj8mA

Rolling Stones – Keith Richards “1 To One” 1995 Pt 3 of 3

http://www.youtube.com/watch?v=QtRQsECpZwE

Rolling Stones Interview , Voodoo era, (1 of 2)

Rolling Stones Interview , Voodoo era, (2 of 2)

Rolling Stones – TFI Friday Interviews 1999 Pt. 1 of 6

http://www.youtube.com/watch?v=wAouUmSFTs0

Rolling Stones – TFI Friday Interviews 1999 Pt. 2 of 6

http://www.youtube.com/watch?v=hu-q3UJotEE

Rolling Stones – TFI Friday Interviews 1999 Pt. 3 of 6

http://www.youtube.com/watch?v=mOYv-i_umqA

Rolling Stones – TFI Friday Interviews 1999 Pt. 4 of 6

http://www.youtube.com/watch?v=KYCA3GRFx7Y

Rolling Stones – TFI Friday Interviews 1999 Pt. 5  of 6

http://www.youtube.com/watch?v=alsdy9NL3QQ

Rolling Stones – TFI Friday Interviews 1999 Pt. 6 of 6

http://www.youtube.com/watch?v=UwdsTitosZ0

Mick Jagger interviewed by Charlotte Roche 2001 1/2

Mick Jagger interviewed by Charlotte Roche 2001 2/2

 Rolling Stones- Rock & Roll Circus 1968- Part 1

 Rolling Stones- Rock & Roll Circus 1968- Part 2

 Rolling Stones- Rock & Roll Circus 1968- Part 3

 Rolling Stones- Rock & Roll Circus 1968- Part 4

 Rolling Stones- Rock & Roll Circus 1968- Part 5

 Rolling Stones- Rock & Roll Circus 1968- Part 6

 Rolling Stones- Rock & Roll Circus 1968- Part 7

 Shine A Light Trailer

Rolling Stones Movie – Interview

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We Surround Them–You Are Not Alone–9.12 Project

Posted on March 14, 2009. Filed under: Blogroll, Economics, Law, Life, Links, People, Philosophy, Politics, Quotations, Raves, Taxes, Video | Tags: , , , , , , , , , |

912_project

Glenn Beck We Surround Them 1 of 5

 

 Glenn Beck – We Surround Them Webcast – 1/4

 

Glenn Beck – We Surround Them Webcast – 2/4

 

Glenn Beck – We Surround Them Webcast – 3/4

 

Glenn Beck – We Surround Them Webcast – 4/4

 

GLENN BECK THE912PROJECT.COM E-MAILS

 

 

Background Articles and Videos

 

Glenn Beck – We Surround Them

 

The Nine Principles

1. America is good.

2. I believe in God and He is the Center of my Life.

3. I must always try to be a more honest person than I was yesterday.

4. The family is sacred. My spouse and I are the ultimate authority, not the government.

5. If you break the law you pay the penalty. Justice is blind and no one is above it.

6. I have a right to life, liberty and pursuit of happiness, but there is no guarantee of equal results.

7. I work hard for what I have and I will share it with who I want to. Government cannot force me to be charitable.

8. It is not un-American for me to disagree with authority or to share my personal opinion.

9. The government works for me. I do not answer to them, they answer to me. 

12 Values

  • Honesty
  • Reverence
  • Hope
  • Thrift
  • Humility
  • Charity
  • Sincerity
  • Moderation
  • Hard Work
  • Courage
  • Personal Responsibility
  • Gratitude

 

You Are Not Alone

If you agree with at least seven of those principles, then you are not alone. Please send a digital version of your picture to:

wesurroundthem@foxnews.com and then stay tuned to the radio and television shows over the coming weeks to see how we intend to pull back the curtain.

http://www.glennbeck.com/content/articles/article/198/21018/

 

Glenn Beck

Glenn Beck (born February 10, 1964) is an American radio and television host, conservative political commentator, author, and entrepreneur. His nationally-syndicated radio show, The Glenn Beck Program, airs throughout the United States on Premiere Radio Networks. Beck also hosts a self-titled television show on Fox News Channel. In addition to broadcasting, Beck has gained success in publishing as author of three New York Times-bestselling books and as publisher of Fusion Magazine. Beck also stars in a one-man stage show that tours the United States twice a year.[1]

…”

http://en.wikipedia.org/wiki/Glenn_Beck

 

Glenn Beck’s 9 “We Surround Them” Principles

“…As laughable as Glenn Beck’s new logo and campaign are, there is a substantive argument being made by it.  He is attempting to clearly define his version of conservative values and asking people to stand behind it.

Here are the stated beliefs of the “We Surround Them” campaign. …”

“…Mr. Beck, you and your wing-nut friends don’t surround us, you are a part of US.  Right now (and hopefully for a very long time) your views are in the minority, but that doesn’t mean you aren’t a part of who we are.  

We are all Americans.  We all want to work hard and love our friends and our families if we have them.  We all want to see America live up to its highest principles.  We all want to practice our faith (or lack thereof) without being bothered or ostrecized.  We all want to speak our minds freely, and we all want our government to look out for our best interest.  

But that’s just it Mr. Beck – it’s about US, not just you and the folks like you.  You aren’t “real” America and you don’t represent what this country “used to stand for.”  This country isn’t made up of the tenenants of a particular poltical philosophy or a make believe cultural past – it is made up of us.  All of us.  Even the ones you don’t like, Mr. Beck.  

And if you choose to set yourself apart from that, or view yourself as seperated from us, then here is the truth…

We surround you!”

http://www.dailykos.com/story/2009/3/13/95532/3885/817/708026

 

Glenn Beck’s, The 9.12 Project

“Glenn Beck’s “We surround them,” aired today and to say the least it was kind of interesting. Beck has taken issue with the complacency of the American public, the entitlement attitude of our pols, and what to do about it.

Admittedly, Beck can be a little bit of a drama queen. However, this does not take way from his point that America is being taken down a road that we do not understand by people who obviously do not have our best intentions in their hearts. …”

http://politicsandcriticalthinking.blogspot.com/2009/03/glenn-becks-912-project.html

We Surround Them

http://wesurroundthemmap.com/

Glenn Beck’s  “We Surround Them”  and The 9.12 Project

“Today Glenn Beck unveiled the first step in the “We Surround Them” strategy to take back our country for the people.  With a packed New York City studio and huge groups of participants and viewers in cities across the nation, he spoke right to the heart of America, but even more importantly, he provided incentive, opportunity, and encouragement for Americans to speak to each other.

Beginning with a chronicle of the events leading up to and following September 11, 2001, Glenn described how the nature of Americans changed drastically within a three-day period.  On 9/10, American’s had their heads in the sand, busy going about their business.  On 9/11, Americans were running scared, frightened, confused, and vulnerable.  On 9/12, the strength of America emerged from the wreckage in the form of it’s average, everyday citizenry as we joined together to voice our outrage, our patriotism, and our sympathy for those whose lives were sacrificed to treachery.

Today Glenn asks, “Which kind of American are you?” …”

“… Again, I echo Beck and encourage you to do the same in your neighborhood.  Let’s start the discussion and keep the dialogue going.

1. Send a tea bag to Washington on April 1st.  We are no fools.  This will cost you no more than 2 minutes, an envelope, a spare tea bag, and a stamp.  You can do this.  For more information, click here.

2. Attend a Tax Day Tea Party or start one if there hasn’t been one organized for your city already.  One hundred and fifteen cities around the nation have already signed up to be a part of this.  That’s 1-1-5, folks!  If that doesn’t send a clear message of discontent and a need for real “change,” I cannot imagine what else will.  Someone please remind me why America voted this guy into power in the first place?  Please? …”

http://pearl-diving.blogspot.com/2009/03/glenn-becks-we-surround-them-and-912.html

The 912 Project

 

http://www.the912project.com/

 

ATB – You’re Not Alone

 

Olive – You’re not Alone

 

TEXAS “Tax Day” TEA PARTY Events – CAPITALIST MARCH ON WASHINGTON

 

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Bee Gees–Videos

Posted on March 12, 2009. Filed under: Art, Blogroll, Life, Links, Music, Quotations, Raves, Video | Tags: , , , , , , , |

 

 bee_gees

 

“I think any everybody, any new songwriter or an artist starting out today should establish their own style rather than try and copy everybody else because that the only thing that’s gonna work.”

~Robin Gibb

 

“We are brothers first, a pop group second”

~Barry Gibb

 

“We love and have been influenced by many country artists particularly Roy Orbison.”

~Maurice Gibb

 

Bee Gees – New York Mining Disaster 1941

 

Bee Gees – I Started a Joke



Bee Gees Words..and words are all I have

Bee Gees – Times Passing By – Live in 1960

Bee Gees – Wine And Woman – Early Days

Robin Gibb (Bee Gees) – Saved by the Bell 1969

Bee Gees – Every Second, Every Minute
 

How Can You Mend A Broken Heart

 

http://www.youtube.com/watch?v=dYBxSCS_d_A&feature=related

 

Bee Gees – Stayin’ Alive

Too Much Heaven – Bee Gees

1974 Bee Gees – Mr Natural


Bee Gees – “Edge Of The Universe” – Live In Chicago

Bee Gees – Massachusetts

Bee Gees – Wind of Change

Bee Gees – Nights on Broadway

Bee Gees-You should be dancing

Bee Gees – Night Fever

Bee Gees – How Deep Is Your Love

Jive talkin’ 1979

Bee Gees – Alone & Still Waters



Bee Gees – To Love Somebody

Bee Gees – Spicks and Specks

Bee Gees – Tragedy

Bee Gees

http://www.youtube.com/watch?v=m6wSGV-ZJrM&feature=related

 

Bee Gees e Celine Dion

 “If you can write a good song that last for years. I mean that is a great blessing.”

~Maurice Gibb 

 

“What songwriting’s always been to me is basically like a flash. I have a flash of an idea or a flash of a chorus, or a flash of a song before it’s actually constructed. That hasn’t changed, it’s continued right through my life. I’ll get up in the middle of the night and put something on a dictaphone and go back to sleep.”

~Barry Gibb

 

“There’s a lot more to being an artist than just making a record, you know, if you’re a songwriter and you’re a musician, there’s a lot more I believe that goes into being an artist instead of just having a good-looking face and singing someone else’s music. There’s a lot more to it. That’s my philosophy.”

~Robbin Gibb 

 

 bee_gees_color

Background Articles and Videos

 

Bee Gees

“The Bee Gees were a singing trio of brothers — Barry, Robin, and Maurice Gibb. They were born on the Isle of Man to English parents, lived in Chorlton-cum-Hardy, Manchester, England, United Kingdom and during their childhood years moved to Brisbane, Australia, where they began their musical careers. Their worldwide success came when they returned to the United Kingdom and signed with producer Robert Stigwood.

The multiple award-winning group was successful for most of its forty years of recording music, but it had two distinct periods of exceptional success: as a harmonic “soft rock” act in the late 1960s and early 1970s, and as the foremost stars of the disco music era in the late 1970s. The group sang three-part tight harmonies that were instantly recognizable; as brothers, their voices blended perfectly, in the same way that The Everly Brothers and The Beach Boys did. Barry sang lead on many songs, in an R&B falsetto introduced in the disco years; Robin provided the clear vibrato lead that was a hallmark of their pre-disco music; Maurice sang high and low harmonies throughout their career. The three brothers co-wrote most of their hits, and they said that they felt like they became ‘one person’ when they were writing. The group’s name was retired after Maurice died suddenly in January 2003.

The Bee Gees were inducted into The Rock and Roll Hall of Fame in 1997; fittingly, the presenter of the award to “Britain’s first family of harmony”[1] was Brian Wilson, leader of the Beach Boys, America’s first family of rock harmony.

It has been estimated that the Bee Gees’ record sales total more than 200 million,[2] easily making them one of the best-selling music artists of all-time. The above figure in record sales does not include record sales for artists for whom they have written and with whom they have collaborated. Their 1997 Rock and Roll Hall of Fame citation says “Only Elvis Presley, The Beatles, Michael Jackson, Garth Brooks and Paul McCartney have outsold the Bee Gees”.[3] …”

http://en.wikipedia.org/wiki/The_Bee_Gees

Bee Gees – On Merv Griffin Show

Bee Gees – 1981

Bee Gees – 1981 – Part 2


 

Bee Gees – 1981 – Part 3

Bee Gees – 1981 – Part 4

Bee Gees – 1981 – Part 5

Robin & Maurice Gibb – Interview 6/20/84

Bee Gees – “Into The Night” – Part 1 of 2

Bee Gees – “Into The Night” – Part 2 of 2

Bee Gees – Interview (1993)

 

Bee Gees – Interview 1993 – Part 3

Bee Gees – Interview 1993 – Part 4

Bee Gees – Interview 1993 – Part 5

Bee Gees Still Waters Interview Part 1

Bee Gees Still Waters Interview Part 2

Bee Gees – Interview 2001

Bee Gees – Interview on Greatest

http://www.youtube.com/watch?v=LvytKLEbb-c

 

Bee Gees – Barry & Robin Reunite in 2006

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Life Is A Gift–Live In The Present–Peace Be With You!

Posted on March 8, 2009. Filed under: Blogroll, Communications, Life, Links, People, Philosophy, Religion, Video | Tags: , , , , , , , , , |

First keep the peace within yourself, then you can also bring peace to others. 

 ~Thomas à Kempis 

In the last twenty months I have writen over 350 blog posts with over 110,000 views.

I wanted to learn the value of writing, research and mass communication on the internet using a blog.

After some reflection I have decided to cease writing posts for the time being to focus my time and energies elsewhere. 

In all likelihood this will be a one year sabbatical.

There are a number of writing and video projects I want to devote time and attention to including a two hour video with narration on The Impressionists.

I hope my posts have been of some value to those searching for information on a subject of interest.

Thank you for your comments and interest.

God Bless and Au Revoir  

Our lives are like a candle in the wind.

~Carl Sandburg 

At the Day of Judgment, we shall not be asked what we have read, but what we have done.

 ~Thomas à Kempis  

 

Background Articles and Videos

 

Thomas à Kempis

Thomas à Kempis (orig. Thomas Haemerkken; Thomas Hammerlein; also Thomas Hemerken, Thomas Hämerken, Thomas van Kempen, Tomás de Kempis) (ca.1380 – 25 July 1471) was a late Medieval Catholic monk and author of The Imitation of Christ, one of the best known Christian books on devotion.

He was born at the Lower Rhine region in Kempen (Germany), County of Cleves in 1380 and died in 1471 near Zwolle in the Prince-Bishopric of Utrecht, 75 miles north of his birthplace. He was apparently (accidentally) buried alive, in that splinters were later found embedded under the fingernails of his corpse. He was denied canonization on the grounds that a saint would not fight death in this way.[1] His paternal name was Hemerken, Kleverlandish for “little hammer.” …”

http://en.wikipedia.org/wiki/Thomas_%C3%A0_Kempis

 

Thomas à Kempis

“Author of the “Imitation of Christ”, born at Kempen in the Diocese of Cologne, in 1379 or 1380; died 25 July, 1471. …”

http://www.newadvent.org/cathen/14661a.htm

 

THE IMITATION OF CHRIST 

BY Thomas À Kempis

http://www.ccel.org/ccel/kempis/imitation.all.html 

 

Carl Sandburg 

“Carl Sandburg (January 6, 1878 – July 22, 1967) was an American writer and editor, best known for his poetry. He won two Pulitzer Prizes, one for his poetry and another for a biography of Abraham Lincoln. H. L. Mencken called Carl Sandburg “indubitably an American in every pulse-beat.”

http://en.wikipedia.org/wiki/Carl_Sandburg 

 

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Elton John–Videos

Posted on March 7, 2009. Filed under: Art, Blogroll, Life, Music, People, Quotations, Raves, Video | Tags: , , , , |

  

 elton_john

 

 “The great thing about rock and roll is that someone like me can be a star.”

 

Elton John – The Greatest Discovery


Elton John – Honky Cat


Elton John – Your song


Elton John-Tiny Dancer


Elton John – Burn Down The Mission – 1970


 

Elton John-Goodbye-live 1971

 http://www.youtube.com/watch?v=_pyZPDI54fI

 

Elton John – Lucy In The Sky With Diamonds

Elton John – The Bitch is Back


Elton John – Philadelphia Freedom – Live in Ephesus

Elton John-Levon-Live 1971

http://www.youtube.com/watch?v=CMub1_CdOrQ

Elton John – Pinball Wizard


 

elton john – daniel

Elton John – Crocodile Rock (Live)



Elton John – Nikita

Elton John – Song For Guy

Elton John – Ballad Of A Well-Known Gun (Live)

Elton John – Hercules (Live)

Elton John – Blessed

Elton John – Believe

http://www.youtube.com/watch?v=dPxstfxiYO8

 

Elton John – The One [What Dreams May Come]


Elton John – Candle In The Wind


Elton John – Abide With Me

Elton John – Funeral For A Friend – Love Lies Bleeding

Elton John – Recover Your Soul

Elton John – If The River Can Bend (Live 1997)

Elton John – Bite Your Lip (Get Up And Dance – 1980

Elton John – Mona Lisas And Mad Hatters (Live)



Elton John – This Train Don’t Stop There Anymore (Live)

Elton John Cold as Christmas Live in Sydney 1986

Elton John – Sartorial Eloquence (Live)

Elton John – The Last Song


I’m Still Standing- Elton John


Elton John – Too Low For Zero (Live)

Elton John – Turn the Lights Out When You Leave

Elton John-Goodbye yellow brick road


 Elton John – Rocketman (In Think It´s Gonna Be A Long Time)

Elton John – Ego


Elton John – Part Time Love

Elton John – Chloe

Elton John – Whispers

Elton John & Kiki Dee – Don’t go breaking my heart


Elton John – I Guess That’s Why They Call It The Blues

http://www.youtube.com/watch?v=ecU-e0XUMd8

Elton John – Little Jeannie – Live in New York


Elton John-Benny & the Jets


 

Elton John – Sorry Seems To Be The Hardest Word – 1976

Elton John – Sacrifice

Elton John can you feel the love tonight

Elton John – They Call Her The Cat (Rome 2005)

Shania Twain And Elton John

Elton John – Don’t Let The Sun Go Down On Me

elton_john_piano

“The whole point of being in this business and being blessed and being successful is that you’re able to do things for your friends or your family, which means that they can have something special in their lives, too. “

 

Background Articles and Videos

Elton John

 “Sir Elton Hercules John CBE[1][2] (born Reginald Kenneth Dwight on 25 March 1947) is an English singer-songwriter, composer and pianist.

In his four-decade career, John has been one of the dominant forces in rock and popular music, especially during the 1970s. He has sold over 200 million records,[3][4] making him one of the most successful artists of all time. He has more than 50 Top 40 hits including seven consecutive No. 1 U.S. albums, 56 Top 40 singles, 16 Top 10, four No. 2 hits, and nine No. 1 hits. He has won five Grammy awards and one Academy Award. His success has had a profound impact on popular music and has contributed to the continued popularity of the piano in rock and roll. In 2004, Rolling Stone ranked him #49 on their list of the 100 greatest artists of all time.[5]

 …”

 http://en.wikipedia.org/wiki/Elton_John

Elton John

http://web.eltonjohn.com/index.jsp

GTK: Elton John interview in the UK 1971

Elton John interview at Old Trafford 1978

Elton John – Interview on drugs and love

http://www.youtube.com/watch?v=YeVXSpweTXg&playnext_from=PL&feature=PlayList&p=4CBE57BF12F5163B&playnext=1&index=46

Elton John interview – part one – Parkinson – BBC

http://www.youtube.com/watch?v=C_KQci5-dUk

Elton John interview – part two – Parkinson – BBC

http://www.youtube.com/watch?v=Fpy2agMmvP0&playnext_from=SPL&feature=SeriesPlayList&p=FF59A85C1C868DED&index=68

Elton John Interview – Addictions

http://www.youtube.com/watch?v=Yseqqb5LnsY

Andrew Denton interviews Sir Elton John

Elton John on Ellen 9.19.06 part 1 of 3

Elton John on Ellen 9.19.06 part 2 of 3

Elton John on Ellen 9.19.06 part 3 of 3

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Microsoft Expression Studio–Videos

Posted on March 7, 2009. Filed under: Communications, Computers, Links, Programming, Raves, Resources, Technology, Uncategorized, Video | Tags: , , , , , |

 Microsoft Expression Studio

http://www.microsoft.com/expression/

 

Free Software for Students Including Microsoft Expression Studio

https://www.dreamspark.com/default.aspx

https://www.dreamspark.com/FAQ/StudentOverview.aspx

 

Microsoft Expression Studio Vision 

 

Microsoft Expression Community

http://expression.microsoft.com/en-us/default.aspx

 

Learn Microsoft Expression

http://expression.microsoft.com/en-us/cc136522.aspx

 

Expression Web

 

  • Understanding the Benefits of Standards-Based Design with Expression Web
  • Styling Text using CSS with Expression Web
  • Understanding CSS Pseudo Classes for Styling Links using CSS with Expression Web
  • Understanding CSS Margins and Padding with Expression Web
  • Using CSS Positioning for Layout with Expression Web
  • Adding Background Images using CSS with Expression Web
  • Using CSS Floats to Create Flexible Page Layouts with Expression Web
  • Clearing CSS Floats with Expression Web
  • Adding JavaSript to Your Site with Expression Web
  • Using External CSS Stylesheets with Expression Web 
  •  

    Microsoft Expression Fundamentals: Web

     

    Get an introduction to Expression Web and Web standards in this overview session. Topics include a brief backround on web standards, HTML, Cascading Style Sheets, XML, and ASP.NET.

    http://www.microsoft.com/web/content.aspx?id=expression-fundamentals-web

     

    Expression Web Tutorial – Checklist -set up empty web site – For Beginners

     

    Expression Web Tutorial – Set up a Web Site

     

    Expression Web Tutorial for Beginners – Make a Web Page

     

    CSS Selectors and Expression Web Tutorials

     

    Expression Web Tutorial -Center a Web Page (or a div)

     

    Insert Flash with Expression Web- Tutorial 

     

     Expression Blend

     

    Microsoft Expression Blend

     

    Microsoft Expression Fundamentals: Blend

     

    Get an introduction to the Microsoft Expression Blend tools that help create rich applications and help you improve your workflow in this detailed web seminar with trainer Joshua Eklund.

    http://www.microsoft.com/web/content.aspx?id=IT-Mentors-091508-Expression-Fundamentals-Blend-v2

     

    Movie Trailer for Microsoft Expression Blend Training

     

    Movie Trailer for Microsoft Expression Blend Training

     

    Creating Glass Buttons in Blend

     

    JUXtapose Episode 1: Simple Animation Using Expression Blend

     

    Expression Design

     

    Microsoft Expression Suit

     

    Microsoft Expression Fundamentals: Design

    Get an introduction to the Microsoft Expression Blend tools that help create rich applications and help you improve your workflow in this detailed web seminar with trainer Joshua Eklund.

    http://www.microsoft.com/web/content.aspx?id=IT-Mentors-Exp-Fundamentals-Design-9-15-08

     

    Expression Media

    Interactive Media in Education

     

    ClickView is a small solution provider that delivers online education videos and tools for creating online video libraries to schools throughout Australia. One of its customers is the private girls’ school Abbotsleigh. The school wanted to give its students more creative learning opportunities that would support their high academic standards. Using Microsoft’s Silverlight, ClickView developed a product that makes thousands of videos available to students that supplement their lectures and activities—and it was a perfect fit for Abbotsleigh’s objectives.

    http://www.microsoft.com/web/content.aspx?id=expression-fundamentals-media

     

    Background Articles and Videos

     

    Microsoft Expression Studio

    Microsoft Expression Studio is a suite of design and media applications from Microsoft aimed at developers and designers. It consists of:

    • Microsoft Expression Web (code-named Quartz) – WYSIWYG website designer and HTML editor.
    • Microsoft Expression Blend (code-named Sparkle) – Visual user interface builder for Windows Presentation Foundation and Silverlight applications.
    • Microsoft Expression Design (code-named Acrylic) – Raster and vector graphics editor.
    • Microsoft Expression Media – Digital asset and media manager.
    • Microsoft Expression Encoder – VC-1 content professional encoder.

     

    Overview

    Of these products, Expression Blend, Expression Design and Expression Encoder have themselves been written using Windows Presentation Foundation[citation needed]. Expression Web (and Sharepoint Designer) is the successor to Microsoft FrontPage, however it features significant differences from FrontPage, such as using its own rendering engine, rather than Internet Explorer’s Trident layout engine. All the FrontPage bots and functions have also been removed. Expression Media is largely based on its predecessor iView Media which Microsoft acquired in June 2006. The technology from Expression Design is also based on a previously acquired product, Creature House Expression, however, Expression Design has been entirely rewritten in WPF.

    Microsoft introduced Expression on 16 September 2005 at Microsoft’s Professional Developers Conference in Los Angeles. Expression Encoder was introduced at NAB 2007. Microsoft Expression Studio was released to manufacturing on 30th April, 2007. The RTM news was announced at Microsoft’s MIX 07 conference for web developers and designers.[2] Expression Web, Expression Blend and Expression Media can also be purchased individually. Expression Design is only available as part of Expression Studio. Expression Encoder is only available for Windows. It was released to manufacturing on September 6, 2007.

    Version 2 was released on May 1, 2008, which also included a graphical makeover for the suite to an inverse of the previous a white on black theme. This release brings all products in the suite to version 2, and now also includes Visual Studio Standard 2008. Visual Studio 2008 Professional Edition as well as Expression Studio is also available to students as downloads via Microsoft’s DreamSpark program. …”

    http://en.wikipedia.org/wiki/Microsoft_Expression_Studio 

     

    Microsoft Expression Web

    “Microsoft Expression Web, code-named Quartz, is a WYSIWYG HTML editor and general web design program by Microsoft, replacing Microsoft FrontPage. It is part of the Expression Studio suite.

    Expression Web allows authoring of web pages integrating XML, CSS 2.1, ASP.NET 2.0, XHTML, XSLT and JavaScript into sites. It requires the .NET Framework 2.0 to operate. Its sibling is Microsoft SharePoint Designer. The second version, Expression Web 2, has full native support for PHP and Silverlight. Editing classic ASP is supported but not on the same page with ASP.NET and there is no classic ASP IntelliSense support. Expression Web uses its own standards-based rendering engine, different from Internet Explorer’s Trident engine.[1] On May 14, 2006, Microsoft released the first public preview version of Expression Web on their web site. On Sept 5, 2006, Microsoft released Beta 1. The major changes from CTP 1 are that nearly all of the old FrontPage bots, parts, functions and non-standard features such as themes have been removed. On December 4, 2006 Microsoft released the final version, which can be found on the Expression Web homepage.

    Microsoft Expression Web provides the ability to install add-ins from third-party developers, extending the capabilities of Expression Web.

    The program received a four-star rating from PC Magazine, which labeled it as a more cost-effective compared to the main competitor, Adobe Dreamweaver. “Even if money is no object, Expression Web 2 might be your better choice,” Editor Edward Mendelson wrote.[2] …”“…Ratings

    Both PC Magazine’s Edward Mendelson and PC Pro’s Tom Arah gave Expression Web 2 four stars. “It largely succeeded by concentrating on providing standards-compliant support for the web’s core markup languages, (X)HTML and CSS,” Arah concluded.[3]

    PC Magazine criticized a lack of Secure FTP upload and Safari-rendering options, but agreed that it was as good or better choice to Adobe Dreamweaver.[4]

    http://en.wikipedia.org/wiki/Microsoft_Expression_Web

     

     

    Microsoft Expression Blend

    Microsoft Expression Blend is a user interface design tool developed and sold by Microsoft for creating graphical interfaces for web and desktop applications that blend the features of these two types of applications. It is an interactive, WYSIWYG front-end for designing XAML-based interfaces for Windows Presentation Foundation and Silverlight applications. It is one of the applications in the Microsoft Expression Studio suite.

    Expression Blend supports the WPF text engine with advanced OpenType typography and ClearType, vector-based 2D widgets, and 3D widgets with hardware acceleration via DirectX.

    Availability

    Expression Blend was code-named Sparkle, and originally the product was announced as Microsoft Expression Interactive Designer, before it was renamed Expression Blend in December 2006.

    On January 24, 2007, Microsoft released the first public Community Technology Preview of Expression Blend as a free download on their web site. The final version was released to manufacturing along with other Expression products on 30th April, 2007. The RTM news was announced at Microsoft’s MIX 07 conference for web developers and designers. [1] Expression Blend required .NET Framework 3.0. Expression Blend and Expression Web are also available as part of the MSDN Premium subscription. Expression Blend Service Pack 1 was released in November 2007. [2]

    The latest version, Expression Blend 2.0 is available which supports developing Microsoft Silverlight browser-based Rich Internet Applications providing animation, vector graphics, interactivity and video playback capabilities.

    A trial version of Expression Blend is available. [3]

    Version 2.5 has been in preview but is now obsolete. The features of 2.5 have been added to Blend 2 Service Pack 1. …”

    http://en.wikipedia.org/wiki/Microsoft_Expression_Blend

     

    Microsoft Expression Design

    “Microsoft Expression Design is Microsoft’s commercial professional illustration vector and raster graphic design tool based on Creature House Expression, which was acquired by Microsoft in 2003. It is part of the Microsoft Expression Studio suite and is written using Windows Presentation Foundation.

    Expression Design was codenamed Acrylic and was originally announced as Expression Graphic Designer until the current name was adopted in December 2006.

    Availability

    The final version of Expression Design was released to manufacturing along with other Expression products on 30 April, 2007. The RTM news was announced at Microsoft’s MIX 07 conference for web developers and designers.[1] Expression Design requires the .NET Framework 3.0 as it uses Windows Presentation Foundation. Expression Design is not available as an individual product, but rather only as part of the Expression Studio suite. Originally Expression Studio was not included in any MSDN subscription, but in 2007 Microsoft added it to the highest level MSDN Subscription. (see the MSDN Subscription information page for more information.

    Expression Design is available for Microsoft Windows XP and Windows Vista on the Windows platform.

    A trial version of Expression Design is available.[2] Service Pack 1 for Expression Design was released on October 17th, 2007.[3]

    http://en.wikipedia.org/wiki/Microsoft_Expression_Design

     

    Microsoft Expression Media

    Microsoft Expression Media is a commercial digital asset management (DAM) cataloging program for Microsoft Windows and Mac OS X operating systems. It is the next version of iView MediaPro (also see iView Media) which Microsoft acquired in June 2006, and is available as:

    • Standalone
    • As part of the Expression Studio suite of design applications
    • As part of Office 2008 for Mac Media Edition

    Expression Media’s key function is cataloguing digital assets. Professional and amateur photographers use the program to display and manage a wide range of formats from high resolution raw image formats to complex multi-layered Photoshop files and more common formats such as JPEG and GIF. It can also catalogue a wider range of other media formats including music and video, Adobe PDF, fonts, and rich media formats like Adobe Flash. The user is able to efficiently organize and categorize without being limited to assets’ actual folder locations, can add metadata including IPTC annotations, and locate assets which may spread over multiple folder and drive locations, including offline discs.

    As well as cataloguing, Expression Media has a range of output functions:

    • Print – formats include contact sheets, lists
    • Web gallery output
    • Conversion to other formats – eg raw files can be resized, output as JPEG, and attached to emails
    • Slideshow

    Expression Media was released to manufacturing along with other Expression products on 30th April, 2007. The RTM news was announced at Microsoft’s MIX 07 conference for web developers and designers.[1] In September 2007, Microsoft released Expression Media Service Pack 1 for Windows and Mac which adds support for HD Photo.[2]

    Trial versions of Expression Media and Expression Encoder are available.[3]

    http://en.wikipedia.org/wiki/Microsoft_Expression_Media 

     

    Microsoft Expression Encoder

    “Microsoft Expression Encoder (formerly Expression Media Encoder) is a Windows-based program for encoding digital and video media. It has a modern user interface and a command line interface. Expression Encoder can be used to create video compressed VC-1 targeting Microsoft Silverlight. Version 1.0 was released to manufacturing on September 6, 2007. A beta of version 2.0 was released in March 2008 which includes new VC-1 codecs and better Silverlight support.

    Expression Encoder is a replacement for the becoming obsolete Windows Media Encoder. …”

    http://en.wikipedia.org/wiki/Microsoft_Expression_Encoder

     

    Microsoft Expression Web 2

    http://www.pcpro.co.uk/reviews/197913/microsoft-expression-web-2.html 

     

    Microsoft Silverlight

    http://www.microsoft.com/SILVERLIGHT/

     

    Microsoft Silverlight

    http://silverlight.net/

     

    Microsoft Silverlight

    Microsoft Silverlight is a programmable web browser plugin that enables features such as animation, vector graphics and audio-video playback that characterise rich Internet applications. Version 2.0, released October 2008, brings additional interactivity features and support for .NET languages and development tools. It is compatible with multiple web browser products used on Microsoft Windows and Mac OS X operating systems. Mobile devices, starting with Windows Mobile 6 and Symbian (Series 60) phones, will also be supported.[1] A third-party free software implementation named Moonlight is under development to bring compatible functionality to GNU/Linux.

    Silverlight provides a retained mode graphics system similar to Windows Presentation Foundation, and integrates multimedia, graphics, animations and interactivity into a single runtime environment. It is being designed to work in conjunction with XAML and is scriptable with JavaScript. XAML can be used for marking up the vector graphics and animations. Textual content created with Silverlight is searchable and indexable by search engines as it is not compiled, but represented as text (XAML).[2] Silverlight can also be used to create Windows Sidebar gadgets for Windows Vista.[3]

    Silverlight supports playback of WMV, WMA and MP3 media content[4] across all supported browsers without requiring Windows Media Player, the Windows Media Player ActiveX control or Windows Media browser plugins. Because Windows Media Video 9 is an implementation of the SMPTE VC-1 standard, Silverlight also supports VC-1 video, though still only in an ASF container format. Furthermore, the Software license agreement says VC-1 is only licensed for the “personal and non-commercial use of a consumer”.[5] Silverlight does not support playback of H.264 video, though support in future versions has been officially announced.[6] Silverlight makes it possible to dynamically load XML content that can be manipulated through a DOM interface, a technique that is consistent with conventional Ajax techniques. Silverlight exposes a Downloader object which can be used to download content, like scripts, media assets or other data, as may be required by the application.[7] With version 2.0, the programming logic can be written in any .NET language, including some derivatives of common dynamic programming languages like Iron Ruby and Iron Python.[8] …”

     http://en.wikipedia.org/wiki/Silverlight

     

    Serious business behind Microsoft’s Silverlight-3 tease

    Game faces on this month

    People sound impressed by what they’ve seen in Silverlight 3. The chances are that’s because it could finally mean parity with Flash on basic features, removing a barrier to switching from Flash to Silverlight and doubling down on .NET, while then going several steps further on workflow, data, and search. These latter steps could take content built in Silverlight into areas important to the vast majority of Microsoft’s core constituents: partners that serve business customers.

    If that is the case, then Silverlight 3 could finally give Microsoft a shot at Flash, hence the excitement emanating from Redmond, and the enthusiasm from those who’ve seen behind the veil. ® …”

    http://www.theregister.co.uk/2009/03/04/silverlight_3_futures/page2.html

     

    Microsoft Silverlight

    http://silverlight.net/

     

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    Rush Limbaugh Challenges President Barack Obama to An Open Debate On His Talk Radio Show!

    Posted on March 5, 2009. Filed under: Blogroll, Climate, Communications, Economics, Education, Employment, Energy, Immigration, Investments, Life, Links, Music, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Strategy, Talk Radio, Taxes, Uncategorized, Video | Tags: , , , , , |

     
    LOL

    Rush Limbaugh and Barack Obama… 

     

    Rush Limbaugh Challenges President Obama to Debate

     

    Rush Limbaugh to Obama – Debate Me!

     

    Barack Obama: DON’T LISTEN TO RUSH LIMBAUGH

     

    Rush vs Obama – Update on 01-31-09 – One Week Later 

     

    Rush on Fox and Friends: Obama vs. Rush Limbaugh

     

    MR PRESIDENT: The Official RUSH/OBAMA Stimulus Plan Proposal 2009!!

     

    The Obama-Limbaugh Stimulus Bill

     

    President Obama anointed Rush Limbaugh ths leader of the Republican Party and told Republicans not to listen to Limbaugh on the stimulus bill.

    Today Rush Limbaugh on his radio show challenged President Obama to an open debate.

    Rush will pay all of President Obama’s  travel, food and lodging expenses to travel to Palm Beach,Florida, so taxpayers would not pay a dime for the debate cost.

    The debate would be on the radio, internet,  and televised like all of Rush Limbaugh’s three hour shows are.

    Looks like Rush took a page or rule from President Obama’s Rules for Radicals writen by radical socialist and “community organizer” Saul Alinsky:

    Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

    Three Cheers for Rush!

     

     

    Background Articles and Videos

     

    Is Obama Scared to Debate Rush?

    “…ccording to today’s Politico story by Jonathan Martin, the entire decision to go after Rush Limbaugh was cooked up by supposedly clever White House aides and outside advisors. Says Martin in his story:

    David Plouffe, Obama’s campaign manager last year and a member of his inner circle still, will publish an op-ed in Wednesday’s Washington Post chiding Republicans for being “paralyzed with fear of crossing their leader.”

    A senior White House aide has been tasked with helping to guide the Limbaugh strategy.

    With the certainty that only a political idiot could not see, Rush has just taken these bozos up and called them out.

    He has challenged Obama to a one-on-one debate on his radio show, no teleprompters please.

    With an ineptness that leaves one breathless, the Obama team has now effectively labeled Obama himself as “paralyzed with fear” if in fact the President doesn’t have the guts to accept Limbaugh’s challenge. After all, if they claim that GOP chair Michael Steele and “Republicans” are cowards for not taking on Rush, Obama himself will surely have the guts to do what they claim Steele and Republicans do not: take on Rush Limbaugh one-on-one.  …”

     

    “…Learning nothing from history, the Obama crowd has now set up a breathtakingly stupid proposition: either Obama debates Rush one-on-one or he is, in the words of his own staff, paralyzed with fear. Now there’s a message to send to al Qaeda. The President of the United States has no guts.

    Amazing.”

    http://spectator.org/blog/2009/03/04/is-obama-scared-to-debate-rush

     

    My Bipartisan Stimulus

    Let’s cut taxes, as I want, and spend more, as Obama would like.

    By Rush Limbaugh

    “…I say, cut the U.S. corporate tax rate — at 35%, among the highest of all industrialized nations — in half. Suspend the capital gains tax for a year to incentivize new investment, after which it would be reimposed at 10%. Then get out of the way! Once Wall Street starts ticking up 500 points a day, the rest of the private sector will follow. There’s no reason to tell the American people their future is bleak. There’s no reason, as the administration is doing, to depress their hopes. There’s no reason to insist that recovery can’t happen quickly, because it can.

    In this new era of responsibility, let’s use both Keynesians and supply-siders to responsibly determine which theory best stimulates our economy — and if elements of both work, so much the better. The American people are made up of Republicans, Democrats, independents and moderates, but our economy doesn’t know the difference. This is about jobs now.

    The economic crisis is an opportunity to unify people, if we set aside the politics. The leader of the Democrats and the leader of the Republicans (me, according to Mr. Obama) can get it done. This will have the overwhelming support of the American people. Let’s stop the acrimony. Let’s start solving our problems, together. Why wait one more day?”

    Mr. Limbaugh is a nationally syndicated radio talk-show host.

    http://online.wsj.com/article/SB123318906638926749.html

     

    Rush Limbaugh on Hannity: Does Rush Want Obama to Succeed?

     

    Rush Limbaugh on Hannity Part 2: The Future of Conservatism

      

     

    Rush Limbaugh Gives Speech To CPAC (part 1)   

     

    Rush Limbaugh Gives Speech To CPAC (part 2)

     

    Rush Limbaugh Gives Speech To CPAC (part 3)

     

    Rush Limbaugh Gives Speech To CPAC (part 4)

     

    Rush Limbaugh Gives Speech To CPAC (part 5)

     

    Rush Limbaugh Gives Speech To CPAC (part 6)

     

    Rush Limbaugh Gives Speech To CPAC (part 7)

     

    Rush Limbaugh Gives Speech To CPAC (part 8)

     

    Rush Limbaugh Gives Speech To CPAC (part9)

     

    Rush Limbaugh Gives Speech To CPAC (part 10)

     

    Rush Limbaugh on Illegal Immigration

     

    An Open Letter To President Obama – Wall Street Journal (The Fairness Doctrine) / Rush Limbaugh

    Talkers Magazine–Heavy 100

    The 100 Most Important Radio Talk Show Hosts in America

    Layout 1

    http://talkers.com/online/?p=267

     

    Conservatives Dominate Talk Radio – CAP’s Palmieri on FNC

     

     

    “Fairness Doctrine” — Feinstein Outlawing Talk Radio

      

     

     

    Larry Kudlow on the Obama Administration’s war against investors and business

     

    “Going Galt” and the next Tea Party wave

    By Michelle Malkin  

     

     

    “…My syndicated column today spotlights two related phenomenon: the Tea Party revolt on the streets and the “Going Galt” revolt with our wallets. For new readers who are just learning about the protest movement and want to join, the best organizational resources are Tax Day Tea Party (nationwide April 15 events), Twitter #teaparty, PJTV’s list of upcoming protests,
    Re-TeaParty (send teabags to Washington and find July 4 events), and TCOT Report. …”

    “…While they take to the streets politically, untold numbers of America’s wealth producers are going on strike financially. Dr. Helen Smith, a Knoxville forensic pathologist and political blogger, dubbed the phenomenon “Going Galt” last fall. It’s a reference to the famed Ayn Rand novel, “Atlas Shrugged,” in which protagonist John Galt leads the entrepreneur class to cease productive activities in order to starve the government of revenue. (Not coincidentally, Rand’s novel sales are up and John Galt references punctuated many of the Tea Party demonstrations.) Dr. Smith was inundated with stories like these: …”

    http://michellemalkin.com/2009/03/04/going-galt-and-the-next-tea-party-wave/

     

    Tea Party photo album: Fiscal responsibility is the new counterculture

    By Michelle Malkin

    “…I’ve got tons of photos and e-mails pouring in from Tea Party people across the country. I joked to a Christian Science Monitor reporter covering the events that fiscal responsibility is the new counterculture. More coverage/photos/livestreaming at TCOT Report.

    There is, as the old ’60s song goes, something happening here. And what it is, is very clear: A grass-roots revolt against the culture of entitlement. The spendzillas in Washington do not speak for us.  …”

    http://michellemalkin.com/2009/02/27/fiscal-responsibility-is-the-new-counterculture/

     

    “Liberty: All the stimulus we need”

    By Michelle Malkin 

    I leave you with the parting photo of the day from the DC Tea Party. It is the leitmotif that ran through the protests across the country. Can’t say it any better than this:

    http://michellemalkin.com/2009/02/27/liberty-all-the-stimulus-we-need/

     

    The Tea Party bashers: Clueless, bitter, and wrapped in tinfoil

    By Michelle Malkin

    tinfoilhat 

     

     

     

     

     

    You know you’re on to something when the tinfoil hat conspiracists start lobbing grenades at you.

    In response to the nationwide outbreak of taxpayer protests against the culture of entitlement, a loon at Playboy.com claimed that the Tea Party events this weekend were part of a grand cabal funded by something called the Koch Foundation in cahoots with CNBC’s Rick Santelli: …”

    http://michellemalkin.com/2009/03/02/the-tea-party-bashers-clueless-bitter-and-wrapped-in-tinfoil/

     

    BLANKLEY: Obama lied; the economy died

    Big government is really his bag, but he doesn’t own up to it

    “…As he said Tuesday night: “As soon as I took office, I asked this Congress to send me a recovery plan by President’s Day that would put people back to work and put money in their pockets. Not because I believe in bigger government – I don’t.”

    This he asserted though the budget he proposed the next day asks for federal spending as 28 percent of gross domestic product (GDP), higher by at least 6 percent than any time since World War II. Moreover, after 10 years, Mr. Obama’s proposed spending as a percentage of GDP would still be 22.6 percent, nearly 2 percentage points higher than any year during the Bush administration, despite the full costs of the terrorist attacks of Sept, 11, 2001, the Iraq and Afghan wars and the rebuilding of New Orleans after Hurricane Katrina. …”

    “…And sure enough, Mr. Obama explained last week that in order to make alternative energy sources wind, solar – perhaps eventually human muscle power? – economically competitive, he intends to raise the price of carbon-based energy until it is so expensive that even solar power will be such-a-deal.

    This level of destructive irrationality cannot be accomplished in the private sector. It will take a very big government indeed to bring such inanities into being. (disclosure: being rational, I give professional advice to carbon-based energy producers.)

    If President Obama were to try to misrepresent his positions for the next four years, there would be nothing he could say that would approach the inaccuracy of his claim last week that he is not for big government. It is the essence of the man and his presidency. He doesn’t like America the way it has been since its founding – and it will take an abusively big government to realize his dreams of converting America into something quite different. If you don’t know that, you don’t yet know Barack Obama. ” 

    http://www.washingtontimes.com/news/2009/mar/03/obama-lied-the-economy-died/

    Tony Blankley is the author of “American Grit: What It Will Take To Survive and Win in the 21st Century” and vice president of the Edelman public-relations firm in Washington 

     

     Obama Approval Indes History

    http://www.rasmussenreports.com/public_content/politics/obama_administration/obama_approval_index_history

     

    50% Say Stimulus Plan Likely to Make Things Worse

    http://www.rasmussenreports.com/public_content/business/economic_stimulus_package/50_say_stimulus_plan_likely_to_make_things_worse

     

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    Obama Approval Index History

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    Radical Welfare Socialism Assaults Free Enterprise Capitalism–The “Silent” Majority Responds!

    Posted on March 2, 2009. Filed under: Babies, Blogroll, Climate, Communications, Education, Employment, Energy, Health Care, Homes, Immigration, Investments, Law, Life, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Religion, Security, Strategy, Talk Radio, Taxes, Video | Tags: , , , , , , , , , , , , , , , , , , , , , |

    Please Help Spread The Message of Liberty

    A Reminder from Ronald Reagan

    “The world is split today into two hostile camps, fighting each other with the utmost vehemence, Communists and anti-Communists. The magniloquent rhetoric to which these factions resort in their feud obscures the fact that they both perfectly agree in the ultimate end of their programme for mankind’s social and economic organization. They both aim at the abolition of private enterprise and private ownership of the means of production and at the establishment of socialism. They want to substitute totalitarian government control for the market economy. No longer should individuals by their buying or abstention from buying determine what is to be produced and in what quantity and quality. Henceforth the government’s unique plan alone should settle all these matters. ‘Paternal’ care of the ‘Welfare State’ will reduce all people to the status of bonded workers bound to comply, without asking questions, with the orders issued by the planning authority. …”

    P.2

    “…Neither is there any substantial difference between the intentions of the self-styled ‘progressives’ and those of the Italian Fascists and the German Nazis. The Fascists and the Nazis were no less eager to establish all-round regimentation of all economic activities than those governments and parties which flamboyantly advertise their anti-Fascist tenets. And Mr. Peron in Argentina tries to enforce a scheme which is a replica of the New Deal and the Fair Deal and like these will, if not stopped in time, result in full socialism. …”

    P.3

    “…The great ideological conflict of our age must not be confused with the mutual rivalries among the various totalitarian movements. The real issue is not who should run the totalitarian apparatus. The real problem is whether or not socialism should supplant the market economy.  …”

    ~Ludwig Von Mises

    Socialism: An Economic and Sociological Analysis

    http://www.econlib.org/library/Mises/msS0.html#Preface

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    Radical Socialism’s

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    Life, Liberty, Happiness, Family, Job, Property, Retirement and Free Enterprise Capitalism

    Join The

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    The conservative moment which has always been a fusion of traditional conservatives, fiscal conservatives and classical liberals or libertarians responds to President Obama’s Radical Socialist assault on free enterprise capitalism both on the streets at Tea Parties across the nation and at the Conservative Politcal Action Conference 2009:

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    Rush Limbaugh Gives Speech To CPAC (part 7)

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    For Tax Year 2006

    Percentiles Ranked by AGI

    AGI Threshold on Percentiles

    Percentage of Federal Personal Income Tax Paid

    Top 1%

    $388,806

    39.89

    Top 5%

    $153,542

    60.14

    Top 10%

    $108,904

    70.79

    Top 25%

    $64,702

    86.27

    Top 50%

    $31,987

    97.01

    Bottom 50%

    <$31,987

    2.99

    Note: AGI is Adjusted Gross Income
    Source: Internal Revenue Service

    http://www.ntu.org/main/page.php?PageID=6

    The 2003 tax cut was the second in three years, and although tax rates are lower, the federal income tax still remains highly progressive. The average tax rate in 2006 ranges from 3.0 percent of income for the bottom half of tax returns to 22.8 percent for the top 1 percent.Table 1
    Summary of Federal Individual Income Tax Data, 2006
    (Updated July 2008)

    Number of Returns with Positive AGI

    AGI ($ millions)

    Income Taxes Paid ($ millions)

    Group’s Share of Total AGI

    Group’s Share of Income Taxes

    Income Split Point

    Average Tax Rate

    All Taxpayers

    135,719,160

    $8,122,040

    $1,023,739

    100%

    100%

    -

    12.60%

    Top 1%

    1,357,192

    $1,791,886

    $408,369

    22.06%

    39.89%

    > $388,806

    22.79%

    Top 2-5%

    5,428,766

    $1,185,828

    $207,311

    14.60%

    20.25%

    17.48%

    Top 5%

    6,785,958

    $2,977,714

    $615,680

    36.66%

    60.14%

    > $153,542

    20.68%

    Top 6-10%

    6,785,958

    $865,430

    $109,060

    10.66%

    10.65%

    12.60%

    Top 10%

    13,571,916

    $3,843,144

    $724,740

    47.32%

    70.79%

    > $108,904

    18.86%

    Top 11-25%

    20,357,874

    $1,692,686

    $158,413

    20.84%

    15.47%

    9.36%

    Top 25%

    33,929,790

    $5,535,830

    $883,153

    68.16%

    86.27%

    > $64,702

    15.95%

    Top 26-50%

    33,929,790

    $1,569,769

    $110,023

    19.33%

    10.75%

    7.01%

    Top 50%

    67,859,580

    $7,105,599

    $993,176

    87.49%

    97.01%

    > $31,987

    13.98%

    Bottom 50%

    67,859,580

    $1,016,441

    $30,563

    12.51%

    2.99%

    < $31,987

    3.01%

    Source: Internal Revenue Service, http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html (“Individual Income Tax Returns with Positive Adjusted Gross Income (AGI) Returns Classified by Tax Percentile – Early Release”)

    http://www.taxfoundation.org/news/show/250.htm

    Ludwig von Mises (1881-1973)

    by Murray N. Rothbard

    “Economics deals with society’s fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen.”

    Ludwig von Mises, Human Action

    “…Mises, and his follower Hayek, developed this cycle theory during the 1920s, on the basis of which Mises was able to warn an unheeding world that the widely trumpeted “New Era” of permanent prosperity of the 192Os was a sham, and that its inevitable result would be bank panic and depression. When Hayek was invited to teach at the London School of Economics in 1931 by an influential former student at Mises’s private seminar, Lionel Robbins, Hayek was able to convert most of the younger English economists to this perspective. On a collision course with John Maynard Keynes and his disciples at Cambridge, Hayek demolished Keynes’s Treatise on Money, but lost the battle and most of his followers to the tidal wave of the Keynesian Revolution that swept the economic world after the publication of Keynes’s General Theory in 1936.

    The policy prescriptions for business cycles of Mises-Hayek and of Keynes were diametrically opposed. During a boom period, Mises counseled the immediate end of all bank credit and monetary expansion; and, during a recession, he advised strict laissez-faire, allowing the readjustment forces of the recession to work themselves out as rapidly as possible.

    Not only that: for Mises the worst form of intervention would be to prop up prices or wage rates, causing unemployment, to increase the money supply, or to boost government spending in order to stimulate consumption. For Mises, the recession was a problem of under-saving, and over-consumption, and it was therefore important to encourage savings and thrift rather than the opposite, to cut government spending rather than increase it. It is clear that, from 1936 on Mises was totally in opposition to the worldwide fashion in macroeconomic policy.

    Socialism-communism had triumphed in Russia and in much of Europe during and after World War I, and Mises was moved to publish his famous article, “Economic Calculation in the Socialist Commonwealth,” (1920) in which he demonstrated that it would be impossible for a socialist planning board to plan a modern economic system; furthermore, no attempt at artificial “markets” would work, since a genuine pricing and costing system requires an exchange of property titles, and therefore private property in the means of production.

    Mises developed the article into his book Socialism(1922), a comprehensive philosophical and sociological, as well as economic critique which still stands as the most thorough and devastating demolition of socialism ever written. Mises’s Socialism converted many prominent economists and social philosophers out of socialism, including Hayek, the German Wilhelm Ropke, and the Englishman Lionel Robbins. …”

    http://mises.org/about/3248

    An Inconvenient Tax

    Cap and trade yields ‘climate revenues.’ But don’t call it a t–.

    “…That didn’t take long. The same week that President Obama promised (again) that “95% of working families” would not see their taxes rise by “a single dime,” his own budget reveals that taxes will rise for 100% of everyone for the sake of global warming. Ahem.

    You don’t even have to burrow into yesterday’s budget fine print to discover the “climate revenues” section, where the White House discloses that it expects $78.7 billion in new tax revenue in 2012 from its cap-and-trade program. The pot of cash grows to $237 billion through 2014, and at least $646 billion through 2019. If this isn’t tax revenue, what is it? Manna from heaven? The offset from Al Gore’s carbon footprint?

    If it brings in revenue that the government then spends, it’s a tax, and politicians should start referring to it as such. The Administration in fact projects that these “climate revenues” will become the sixth largest source of federal receipts by 2019, outpaced only by individual and corporate income taxes, payroll taxes for Social Security and Medicare and (barely) excise taxes. We’re supposed to be living in a new era of fiscal honesty, so let’s start with cap and trade.

    Of course it’s easy to see why Democrats don’t want the public to think of cap and trade as a tax. Tax increases aren’t popular, as Mr. Gore learned when he and Bill Clinton tried to impose a BTU tax in 1993. The complex cap-and-trade tax would ripple throughout the energy chain and ultimately the entire economy. All consumers, not just “the rich,” would pay more for goods and services that use carbon energy — though some would pay more than others. A majority of those “95% of working families” probably lives in the middle of the country that relies far more on manufacturing and coal-fired power than do the better-off coastal regions. …”

    http://online.wsj.com/article/SB123569802712289113.html

    Obama administration could fast track cap-and-trade, RPS in ’09

    January 21, 2009 – Exclusive By Emma Ritch, Cleantech Group

    Likely proposals include a 15-percent reduction in emissions from 2005 levels by 2012 and 80 percent by 2050, Fusaro said in a post-election briefing on carbon markets today.

    “That will incent industry to invest in cleaner technology since they would have regulatory certainty and long term time horizon,” he told the Cleantech Group.

    A U.S. cap-and-trade policy would be in line with the 184 countries participating in the Kyoto Protocol, whereas a carbon tax wouldn’t, Fusaro said. Such a cap-and-trade system would operate as a de facto tax because costs would be added to consumers’ airline tickets, electricity bills and vehicle purchases, he said. …”

    “…Carbon trading markets today don’t provide the financial incentive for companies to reduce emissions, with a ton of carbon dioxide emissions selling for between $3 and $15 on various exchanges.

    Fusaro said the price has stayed low because there are too many sellers and not enough buyers of emissions thanks to nonexistent caps from the U.S. or too-high allowances from governments such as the European Union. Additionally, the EU mandates don’t cover enough sectors of the economy, such as transportation, Fusaro told the Cleantech Group.

    “Greenhouse gas reductions don’t have an intrinsic value. It’s rather a value driven by legislation and the anticipation of legislation,” he said.

    Voluntary cap-and-trade markets are giving companies a head start on the learning curve for emissions reductions. The U.S. makes up about 40 percent of the voluntary markets, which are increasingly being used as an alternative to the sometimes-onerous process to get credits through the Kyoto Protocol’s Clean Development Mechanism (CDM) program, Fusaro said.

    The forced entry of U.S. companies in a cap-and-trade scheme could create a $1 trillion market thanks to the the country’s 6 billion tons of emissions each year, Fusaro said. Realistically, the program will likely cover 80 percent of the country’s carbon footprint and establish a price cap of $20 a ton, generating enough money for the federal government to spent $15 billion on clean energy, he said.  …”

    http://cleantech.com/news/4081/obama-administration-could-fast-track-cap-and-trade-rps-09

    Santelli On Kudlow Show 6

    Tea Party photo album: Fiscal responsibility is the new counterculture

    By Michelle Malkin

    “…I’ve got tons of photos and e-mails pouring in from Tea Party people across the country. I joked to a Christian Science Monitor reporter covering the events that fiscal responsibility is the new counterculture. More coverage/photos/livestreaming at TCOT Report.

    There is, as the old ’60s song goes, something happening here. And what it is, is very clear: A grass-roots revolt against the culture of entitlement. The spendzillas in Washington do not speak for us.  …”

    http://michellemalkin.com/2009/02/27/fiscal-responsibility-is-the-new-counterculture/

    Tea Party on: Taxpayer revolts in Green Bay, Lafayette, Olathe, and Harrisburg; Plus: Live from Fullerton CA… “Recall the Taxinator!;” Arnie videotapes/DVDs smashes/shredded

    By Michelle Malkin

    “…The tax-paying rebels are not going away.

    In Green Bay, Wisconsin, today an estimated 500 protesters gathered for a Tea Party at Titletown Brewing. Reader David has more at Pork Revolution:

    …”

    http://michellemalkin.com/2009/03/07/tea-party-on-taxpayer-revolts-in-green-bay-lafayette-olathe-and-harrisburg/

    “Liberty: All the stimulus we need”

    By Michelle Malkin

    I leave you with the parting photo of the day from the DC Tea Party. It is the leitmotif that ran through the protests across the country. Can’t say it any better than this:

    http://michellemalkin.com/2009/02/27/liberty-all-the-stimulus-we-need/

    The Tea Party bashers: Clueless, bitter, and wrapped in tinfoil

    By Michelle Malkin

    tinfoilhat

    You know you’re on to something when the tinfoil hat conspiracists start lobbing grenades at you.

    In response to the nationwide outbreak of taxpayer protests against the culture of entitlement, a loon at Playboy.com claimed that the Tea Party events this weekend were part of a grand cabal funded by something called the Koch Foundation in cahoots with CNBC’s Rick Santelli: …”

    http://michellemalkin.com/2009/03/02/the-tea-party-bashers-clueless-bitter-and-wrapped-in-tinfoil/

    The Obama Revolution

    Paid for by the people.

    deficits

    “…The first point to understand is the sheer magnitude of federal spending built into this proposal. As the nearby chart shows, federal outlays will soar in fiscal 2009 to $4 trillion, or 27.7% of GDP, from $3 trillion or 21% of GDP in 2008, and 20% in 2007. This is higher as a share of the economy than any year since 1945, when the country was still mobilized for World War II. It is more spending by far than during the Vietnam War, or during the recessions of 1974-75 or 1981-82. …”

    “…The falling deficit also assumes the largest tax increase in U.S. history, starting in 2011 with the repeal of the Bush tax rates on incomes higher than $200,000 for individuals and $250,000 for couples. The White House says this will yield upwards of $1 trillion, if you choose to believe that tax rates don’t affect taxpayer behavior.

    In the real world, two of every three tax filers who fall into this income category are small business owners or investors, who are certainly capable of finding ways to invest that allow them to declare less taxable income. The real impact of this looming tax increase will be to cast further uncertainty over economic decisions and either slow or postpone the recovery. Ditto for the estimated $646 billion from a new cap-and-trade tax, which no one wants to call a tax but would give the political class vast new leverage over the private economy. (See here.)

    Then there is Mr. Obama’s plan for national health care. The White House has put a $634 billion place holder in the budget to pay for covering tens of millions of uninsured Americans with government subsidized coverage. But even advocates of this government plan say the cost will be closer to $1 trillion over 10 years, and probably much more. Meanwhile, the President is promising to reform entitlements, but his budget proposes a net increase of about $1 trillion in Medicare, Medicaid and other entitlements. …”

    http://online.wsj.com/article/SB123569611695588763.html

    The Obama Steamroller: Is Resistance Futile?

    By Richard Baehr

    “…Americans may grow weary of all the new programs, spending and elevated deficits. And most Americans do not hate the wealthy, even with all the populist bashing of bankers and corporate executives now going on. Obama’s team has no problem per se with wealthy folks of course — they like and depend on Hollywood liberals, K street lobbyists, trial lawyers, and union executives.  Obama’s team will counter  any criticism of its burgeoning deficit by saying:  “We inherited the problem, we inherited the problem”.

    Over time, the refrain may wear thin, but no one should assume this is or will be a fair fight in terms of the power of the messaging, and the messengers.  By 2012, the GDP will likely be growing again, and Obama will take credit for the magnificent turnaround.  Obama will be a strong favorite for re-election, given his personal likeability and a campaign war chest that will almost certainly be bigger than the $800 million he spent in 2008.

    America may also not be recognizable by then, and even less so by 2016, with a greatly expanded public sector share of the economy — maybe 30% on the federal level and close to 50% with states and localities added in. The federal bureaucracy will have been inoculated into every facet of the economy. There will be much higher tax rates on success (whether it be earned or investment income) and with this, the number of  risk-takers and entrepreneurs will drop rapidly.

    Obama will have succeeded in turning the US into a more European like economy, with much slower growth prospects, crushing deficits, and increased entitlement spending as far as the eye can see (and neither more nor less manmade global warming, regardless of what the Congress and Obama do in this area). And of course, there will be the need for ever higher tax rates on the diminishing share of the population who pay income taxes, and for ever larger amounts of debt to be financed mostly by foreigners.

    http://www.americanthinker.com/2009/02/the_obama_steamroller_is_resis.html

    Obama’s Busted Budget

    By Randall Hoven

    “..Concerning the short term, where numbers are more solid, don’t even look at his budget if you are at all squeamish.  He puts the deficit at 12.3% of GDP in 2009.  Throughout the Great Depression, whether under Hoover or FDR, the deficit never exceeded 6% of GDP.  Under Reagan, with his inherited recession and his tax cuts, it never exceeded 6% of GDP.  Under George W. Bush, with his inherited recession and his tax cuts, it never even got to 4% of GDP.

    In fact, in only five years since 1930 has the deficit exceeded 6% of GDP: 1942-46.  It has exceeded Obama’s 12.3% only from 1942 to 1945.  That was World War II.  Then, defense spending was about 40% of GDP.  Now it is about 4%.

    President Obama projects debt held by the public at 59% of GDP in 2009, and about 65% of GDP thereafter, as far as his projections go.

    You have to go back to Truman to see debts that high.  And Truman was paying off World War II costs.  It’s been below 50% of GDP since 1957.  For the first time since then, it will exceed that level this year, going from 41% to 59% of GDP in a single year.

    This is a terrible budget.  In Obama’s first term, it is even worse than my predictions.  Into his second term and beyond, it is still bad, and held together only with rosy assumptions on both the revenue and spending sides.  When things can be expected to get really bad, by 2020 and beyond, he makes no projections at all. …”

    http://www.americanthinker.com/2009/02/obamas_busted_budget.html

    Europe Is Falling Apart Faster Than US? – Glenn Beck – March 2nd, 2009

    Jim Rogers: Let AIG Go Bankrupt or USA Finished

    Jim Rogers says “Go become a Farmer!” – March 3, 2009

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