Hey Barry:
UPDATES 2.27.11
Maybe too loudly, but Clinton says US reaching out to Libyan opposition groups in east of country. US needs to be careful - not seen as meddling. Read it here:
http://www.live5news.com/Global/story.asp?S=14149682
Gadhafi forces abandoning Tripoli:
http://www.alarabiya.net/articles/2011/02/26/139272.html
************************
OK, I know y'all aint askin, but here's my two cents about what we - the good ol US of A - oughta be doing in all the Mid-East countries, starting now.
First, let's just realize that as you read this hundreds of people are dying and bleeding from gunshots in a whole bunch of countries.
Most of the people bleeding and dying are young, well-read kids. They are just like we were a long time ago, say in about 1776 or thereabouts.
All they are asking for is a chance to create a just place where they can live in peace and have a say about their government. And, whenever they get the chance as it appears in Benghazi, they are doing just that.
The folks doing the shooting are mostly old, rich and corrupt. They are the kind of folks that we tossed out of our country.
Question is: whom do we want to side with? Cuz, Barry, we gotta choose sides, aint no way round it. If we say nothing then we is supporting the old corrupt folks against the young folks.
And, if we speak out about how good are the young people, then we are choosing revolution instead of order and stability.
What we can NOT do is send in American troops - that will just prop up the old fogeys.
Here's what we should do, Barry: Keep quiet and choose the young. We choose the young by sending in some real quiet folks who can speak the language and encourage them to develop new government structures. Part of that job is to watch for and corral the few who want to take over the energy and push it in the wrong direction. It can be done quietly, Barry.
And, maybe we can send in some folks who are good at revolutionary tactics. I'm sure hoping we have some of them Barry - we need them now. And, maybe some better weapons, Barry. I do not want to stand in a street and call out Ghadafi with a shotgun - he has .50 cal machine guns and .50 cal sniper rifles that he is using now. It's not fair.
If that is not possible because the old, corrupt folks have too much power, then we gotta lean on the old fogeys real hard. Barry, when I say 'lean on them', I do NOT mean we should 'encourage them to offer reforms.'
What I mean is that we say - in private, mind - 'Make the changes on this list and allow the young folks some of what they want, or you will be gone.' Then, we gotta mean that.
Make no mistake, the US of A cannot choose the old fogeys in all these countries. If we do that, we'll be choosing the past and the world will pass us by even faster than it is doing now.
We gotta choose the future, Barry. We just gotta chose it quietly and effectively.
Your pal,
Saturday, February 26, 2011
Monday, February 21, 2011
U.S. Class War - It's On
Hey Barry:
You will probably want to skip this posting - some things are better left unread by you.
CLASS WAR TODAY
Today, there is class war in the United States.
Sadly, only one side is fighting the war. Equally sadly, that side is winning.
The two sides are the Billionaires - not millionaires, billionaires - on one side and the rest of the people on the other side.
BILLIONAIRES ARE WINNING
The Billionaire side's objective is very simply to remove any and all protections for the middle class population in the USA and to return to social policy of the 1880's.
These include but are not limited to collective bargaining, publicly funded health insurance and health care, publicly funded retirement, minimum wage laws, regulations that protect public health and safety from business errors and/or practices, any restraint on financial institutions - specifically including the right of banks to buy corporate shares with federal reserve cash - welfare and a host of laws designed to secure a better life for the average working person and family.
The Billionaire side's methods are stunningly simple: obtain political power through the electoral process and reduce systematically taxes on corporations and Billionaires and then claim a budget crisis that requires forfeiture of protections for the population. The methods also include threats of violence - so far no actual violence - from their followers.
PEOPLE NOT FIGHTING
In a normal country, the reaction of the people to this type of class war would be equally simple and direct: overthrow with violence the government which allows these actions to proceed.
However, Americans are better than that. We do not resort to violence, except in extreme circumstances. And the circumstances of today are not extreme enough to justify violence.
But, the normal method of fighting against the attack, namely the electoral process, is so corrupt that only money interests are protected.
Unless the American people find some way to redress the situation, the war will be over before the fight has begun.
FIGHTING CIVILLY: LEGALLY AND NON-VIOLENTLY
I will suggest below an alternative method of fighting class war; this method is untried on a large scale and so I cannot predict its impact with certainty. But, I am sure that it will be as effective as it is widely mounted.
Personally I have been on the receiving end of such an attack and although it was not violent, it was destructive and distracting even though I did nothing wrong or illegal.
To read an example of how a single person can cause a problem for a company, read here how one such person targeted a restaurant for no apparent reason: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/03/05/BAIK1I4C48.DTL
It is time to begin such an attack on the interests that are destroying our social safety net.
Before discussing the specific methods of such an attack, let's examine its objectives.
OBJECTIVES OF FIGHTING CIVILLY
The objectives of the attack are twofold:
1. Distract the Billionaire organizers so that they must concentrate their funds and efforts on protecting their cash generating operations; and,
2. Limit Billionaire activities to strictly legal behavior. That is not to say that all Billionaires are law breakers, but it is to say that we want to be sure the laws of the land are followed by everyone, including the rich and privileged.
METHOD OF FIGHTING: REGULATIONS
The United States has many business regulations which dictate how business must behave. Such regulations are enacted at the Federal, State, County and City level. They are cumbersome and do in fact change how a company conducts its business.
This is a good thing for this fight.
Each of these business regulations has a bureaucracy whose sole job is to enforce its rules. While some of these regulators have police powers to arrest and prosecute, most do not. But they all have the right and responsibility to bring legal action whenever their rules are broken.
Here's the very good thing from our perspective: each regulation bureaucracy reacts to citizen complaints about rule breaking. They respond when they receive information that a rule is being broken.
Our method then is simply to find an employee of the Billionaire's businesses who is aware of real or POTENTIAL rule breaking and to notify the responsible regulator. The regulator will then conduct an investigation. If the business is found compliant with the regulation, then nothing further will happen. The good thing from our perspective is that it takes a lot of time and effort to defend yourself against such a complaint, even if you are found innocent of wrongdoing.
If the business is found in violation, then the regulator will issue a fine or criminal complaint, which is even more costly than exoneration.
METHOD OF FIGHTING CIVILLY: TARGET KOCH BROTHERS
There are hundreds of Billionaires. We can't target them all. It makes sense to target the specific folks who are driving the class war.
That will be the Koch Brothers. They are the people funding the class war.
STEP BY STEP CAMPAIGN CIVILLY TARGETING KOCH BROTHERS
Here's how to bring regulators to businesses owned by the Koch brothers.
1. Use the list below to locate your closest Koch owned company;
2. If there is no company listed in your area, do a little Googling to find one - this list is not an exhaustive list;
3. Find an employee you know socially or through your union who shares your views; if you don't know an employee, then make it a point to find one through Facebook, friends, or whatever method you can;
4. Research which regulations cover the job your new acquaintance does; the most widely known are the EPA, IRS, OSHA, local building codes and local zoning laws;
5. Research the regulation in order to understand how the Koch company is, or may be, violating it;
6. Ask your acquaintance for any specific ideas about regulations which are or may be violated;
7. Write a complaint to the regulator stating that the rules are being violated in each specific location and that you are personally harmed as a result; if you complain about more than one location, write a separate complaint about each;
8. If the regulation is covered by the Whistleblower law, be aware that you may be entitled to a money reward if the company is guilty of a violation.
KOCH BROTHERS COMPANIES
Below is a PARTIAL list of Koch owned companies and cities - note that company headquarters is Wichita Kansas and if no specific city is listed, chances are that it is located in Wichita:
Koch business solutions, LP, Wichita KS, Green Bay WI, Atlanta GA
Koch chemical tech group, LLC, Luxembourg LU
Koch companies public sector LLC, Arlington/Reston VA, Washington DC
Koch companies services LLC, Wichita KS
Koch energy services LLC Houston TX,
Koch Exploration Company, LLC Calgary, CA
Koch fertilizer Canada, ULC, BRANDON CA
Koch fertilizer LLC, Wichita KS
Koch financial corporation
Koch Glitsch GP LLC, Wichita KS
Koch heat transfer company LP, Houston TX
Koch industries Inc, Wichita KS
Koch knight LLC, Canton OH
Koch membrane systems Inc, Boston MA, Parramatta, NSW AU, Aachen Germany
Koch minerals LLC, Wichita KS
Koch nitrogen company LLC, Wichita KS, Aurora NE, Beatrice NE
Koch pipeline company LP, Wichita KS, Corpus Christi TX, Minneapolis MN, Eagleville MO,
Koch pulp & paper trading
Koch specialty plant services, Houston TX
Koch supply & trading LP, Houston TX
Koch supply company
MBM north america
Unifin chesapeake
Invista
Georgia pacific
Koch exploration company, LLC calgary CA
Optimized Process designs, Inc., Houston TX
Koch owns a coal company subsidiary with facilities in Green Bay, Manitowoc, Ashland and Sheboygan; six timber plants throughout Wisconsin; and a large network of pipelines in Wisconsin.
Coen Sacramento CA, Tulsa OK,
Flint Hills Resources, Wichita KS, North Pole AK, Corpus Christi TX, Houston TX, Beaumont TX Minneapolis MN, Forth Worth TX, Ames IA, Shell Rock IA, Joliet IL, Menlo IA, Calgary CA
John zink company, Tulsa OK
C. G. Koch Foundation, Washingto DC http://www.cgkfoundation.org
Your pal,
You will probably want to skip this posting - some things are better left unread by you.
CLASS WAR TODAY
Today, there is class war in the United States.
Sadly, only one side is fighting the war. Equally sadly, that side is winning.
The two sides are the Billionaires - not millionaires, billionaires - on one side and the rest of the people on the other side.
BILLIONAIRES ARE WINNING
The Billionaire side's objective is very simply to remove any and all protections for the middle class population in the USA and to return to social policy of the 1880's.
These include but are not limited to collective bargaining, publicly funded health insurance and health care, publicly funded retirement, minimum wage laws, regulations that protect public health and safety from business errors and/or practices, any restraint on financial institutions - specifically including the right of banks to buy corporate shares with federal reserve cash - welfare and a host of laws designed to secure a better life for the average working person and family.
The Billionaire side's methods are stunningly simple: obtain political power through the electoral process and reduce systematically taxes on corporations and Billionaires and then claim a budget crisis that requires forfeiture of protections for the population. The methods also include threats of violence - so far no actual violence - from their followers.
PEOPLE NOT FIGHTING
In a normal country, the reaction of the people to this type of class war would be equally simple and direct: overthrow with violence the government which allows these actions to proceed.
However, Americans are better than that. We do not resort to violence, except in extreme circumstances. And the circumstances of today are not extreme enough to justify violence.
But, the normal method of fighting against the attack, namely the electoral process, is so corrupt that only money interests are protected.
Unless the American people find some way to redress the situation, the war will be over before the fight has begun.
FIGHTING CIVILLY: LEGALLY AND NON-VIOLENTLY
I will suggest below an alternative method of fighting class war; this method is untried on a large scale and so I cannot predict its impact with certainty. But, I am sure that it will be as effective as it is widely mounted.
Personally I have been on the receiving end of such an attack and although it was not violent, it was destructive and distracting even though I did nothing wrong or illegal.
To read an example of how a single person can cause a problem for a company, read here how one such person targeted a restaurant for no apparent reason: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/03/05/BAIK1I4C48.DTL
It is time to begin such an attack on the interests that are destroying our social safety net.
Before discussing the specific methods of such an attack, let's examine its objectives.
OBJECTIVES OF FIGHTING CIVILLY
The objectives of the attack are twofold:
1. Distract the Billionaire organizers so that they must concentrate their funds and efforts on protecting their cash generating operations; and,
2. Limit Billionaire activities to strictly legal behavior. That is not to say that all Billionaires are law breakers, but it is to say that we want to be sure the laws of the land are followed by everyone, including the rich and privileged.
METHOD OF FIGHTING: REGULATIONS
The United States has many business regulations which dictate how business must behave. Such regulations are enacted at the Federal, State, County and City level. They are cumbersome and do in fact change how a company conducts its business.
This is a good thing for this fight.
Each of these business regulations has a bureaucracy whose sole job is to enforce its rules. While some of these regulators have police powers to arrest and prosecute, most do not. But they all have the right and responsibility to bring legal action whenever their rules are broken.
Here's the very good thing from our perspective: each regulation bureaucracy reacts to citizen complaints about rule breaking. They respond when they receive information that a rule is being broken.
Our method then is simply to find an employee of the Billionaire's businesses who is aware of real or POTENTIAL rule breaking and to notify the responsible regulator. The regulator will then conduct an investigation. If the business is found compliant with the regulation, then nothing further will happen. The good thing from our perspective is that it takes a lot of time and effort to defend yourself against such a complaint, even if you are found innocent of wrongdoing.
If the business is found in violation, then the regulator will issue a fine or criminal complaint, which is even more costly than exoneration.
METHOD OF FIGHTING CIVILLY: TARGET KOCH BROTHERS
There are hundreds of Billionaires. We can't target them all. It makes sense to target the specific folks who are driving the class war.
That will be the Koch Brothers. They are the people funding the class war.
STEP BY STEP CAMPAIGN CIVILLY TARGETING KOCH BROTHERS
Here's how to bring regulators to businesses owned by the Koch brothers.
1. Use the list below to locate your closest Koch owned company;
2. If there is no company listed in your area, do a little Googling to find one - this list is not an exhaustive list;
3. Find an employee you know socially or through your union who shares your views; if you don't know an employee, then make it a point to find one through Facebook, friends, or whatever method you can;
4. Research which regulations cover the job your new acquaintance does; the most widely known are the EPA, IRS, OSHA, local building codes and local zoning laws;
5. Research the regulation in order to understand how the Koch company is, or may be, violating it;
6. Ask your acquaintance for any specific ideas about regulations which are or may be violated;
7. Write a complaint to the regulator stating that the rules are being violated in each specific location and that you are personally harmed as a result; if you complain about more than one location, write a separate complaint about each;
8. If the regulation is covered by the Whistleblower law, be aware that you may be entitled to a money reward if the company is guilty of a violation.
KOCH BROTHERS COMPANIES
Below is a PARTIAL list of Koch owned companies and cities - note that company headquarters is Wichita Kansas and if no specific city is listed, chances are that it is located in Wichita:
Koch business solutions, LP, Wichita KS, Green Bay WI, Atlanta GA
Koch chemical tech group, LLC, Luxembourg LU
Koch companies public sector LLC, Arlington/Reston VA, Washington DC
Koch companies services LLC, Wichita KS
Koch energy services LLC Houston TX,
Koch Exploration Company, LLC Calgary, CA
Koch fertilizer Canada, ULC, BRANDON CA
Koch fertilizer LLC, Wichita KS
Koch financial corporation
Koch Glitsch GP LLC, Wichita KS
Koch heat transfer company LP, Houston TX
Koch industries Inc, Wichita KS
Koch knight LLC, Canton OH
Koch membrane systems Inc, Boston MA, Parramatta, NSW AU, Aachen Germany
Koch minerals LLC, Wichita KS
Koch nitrogen company LLC, Wichita KS, Aurora NE, Beatrice NE
Koch pipeline company LP, Wichita KS, Corpus Christi TX, Minneapolis MN, Eagleville MO,
Koch pulp & paper trading
Koch specialty plant services, Houston TX
Koch supply & trading LP, Houston TX
Koch supply company
MBM north america
Unifin chesapeake
Invista
Georgia pacific
Koch exploration company, LLC calgary CA
Optimized Process designs, Inc., Houston TX
Koch owns a coal company subsidiary with facilities in Green Bay, Manitowoc, Ashland and Sheboygan; six timber plants throughout Wisconsin; and a large network of pipelines in Wisconsin.
Coen Sacramento CA, Tulsa OK,
Flint Hills Resources, Wichita KS, North Pole AK, Corpus Christi TX, Houston TX, Beaumont TX Minneapolis MN, Forth Worth TX, Ames IA, Shell Rock IA, Joliet IL, Menlo IA, Calgary CA
John zink company, Tulsa OK
C. G. Koch Foundation, Washingto DC http://www.cgkfoundation.org
Your pal,
Saturday, February 19, 2011
UPDATE 2.26: The Revolution Is Televised
Hey Barry:
Watch it here:
http://english.aljazeera.net/news/africa/2011/02/2011223125256699145.html
2.23.11 ShababLibya BREAKING: a caller confirms 1500 were found in an underground prison systemhttp://bit.ly/hJTQLl (Arabic) #Libya #Feb17 what is this man??!
Seems that Libya is heading to a real revolution.
See it here: http://english.aljazeera.net/news/africa/2011/02/2011219811665897.html
Twitter feeds from Al Jazeera say that some army units are joining the protestors and that the army has killed hundreds.
'May God grant that you live in interesting times', ancient curse.
Your pal,
Watch it here:
http://english.aljazeera.net/news/africa/2011/02/2011223125256699145.html
2.23.11 ShababLibya BREAKING: a caller confirms 1500 were found in an underground prison systemhttp://bit.ly/hJTQLl (Arabic) #Libya #Feb17 what is this man??!
Seems that Libya is heading to a real revolution.
See it here: http://english.aljazeera.net/news/africa/2011/02/2011219811665897.html
Twitter feeds from Al Jazeera say that some army units are joining the protestors and that the army has killed hundreds.
'May God grant that you live in interesting times', ancient curse.
Your pal,
2.19.11 Bahrain Update
Hey Barry:
The WSJ reports that the Bahraini army has left Pearl Roundabout and is turning crowd control to the police.
Read it here: http://online.wsj.com/article/SB10001424052748703407304576153730131759762.html
This was one of the protestors' demands and may be interpreted as good news by the protestors.
If so, that would encourage more protest actions; it could mean even more violence unless the government acts wisely.
Gene Sharp - Arabian Revolutionary Hero
On a related matter, seems that 83 year old US citizen Gene Sharp is the godfather of non-violent revolution. His free book 'From Dictatorship to Democracy ' can be downloaded in many languages here: http://www.aeinstein.org/
Your pal,
The WSJ reports that the Bahraini army has left Pearl Roundabout and is turning crowd control to the police.
Read it here: http://online.wsj.com/article/SB10001424052748703407304576153730131759762.html
This was one of the protestors' demands and may be interpreted as good news by the protestors.
If so, that would encourage more protest actions; it could mean even more violence unless the government acts wisely.
Gene Sharp - Arabian Revolutionary Hero
On a related matter, seems that 83 year old US citizen Gene Sharp is the godfather of non-violent revolution. His free book 'From Dictatorship to Democracy ' can be downloaded in many languages here: http://www.aeinstein.org/
Your pal,
Thursday, February 17, 2011
UPDATE 2.18 More Bahrain Violence
Hey Barry:
Government forces fire on demonstrators and mourners
Read it here:
http://www.nytimes.com/2011/02/19/world/middleeast/19bahrain.html
Only questions are these: will the government continue violence and will the Shiite majority react to government violence with more violence?
Your pal,
Government forces fire on demonstrators and mourners
Read it here:
http://www.nytimes.com/2011/02/19/world/middleeast/19bahrain.html
Only questions are these: will the government continue violence and will the Shiite majority react to government violence with more violence?
Your pal,
Wednesday, February 16, 2011
PROTESTS CLOSE SCHOOLS!
Hey Barry:
Teachers strike and schools are closed. Students grab bullhorns and march on government buildings. 30,000 educated, average people PROTEST economic policies.
And, Barry, this is MADISON, WISCONSIN!
TODAY! Wednesday and Thursday.
Here's what's happening: the new Republican governor slices taxes on corporations. Just exactly like Rep govs in other states.
Y'all can read it here: http://online.wsj.com/article/SB10001424052748704171004576149003027310600.html?mod=googlenews_wsj
He creates a budget shortfall. He blames public workers and their unions for the financial crisis. He proposes a bill to prohibit public employees from bargaining collectively.
Just another attack on the middle class.
EXCEPT - the middle class - teachers, police, EMT's, snowplow drivers, fire fighters, students - know EXACTLY what is happening.
They don't like it. They march to the capitol and demand the bill be stopped. They close schools.
They are not happy, Barry.
Not happy.
Y'all need to get in front of this, Barry.
We need you there
Your pal,
Teachers strike and schools are closed. Students grab bullhorns and march on government buildings. 30,000 educated, average people PROTEST economic policies.
And, Barry, this is MADISON, WISCONSIN!
TODAY! Wednesday and Thursday.
Here's what's happening: the new Republican governor slices taxes on corporations. Just exactly like Rep govs in other states.
Y'all can read it here: http://online.wsj.com/article/SB10001424052748704171004576149003027310600.html?mod=googlenews_wsj
He creates a budget shortfall. He blames public workers and their unions for the financial crisis. He proposes a bill to prohibit public employees from bargaining collectively.
Just another attack on the middle class.
EXCEPT - the middle class - teachers, police, EMT's, snowplow drivers, fire fighters, students - know EXACTLY what is happening.
They don't like it. They march to the capitol and demand the bill be stopped. They close schools.
They are not happy, Barry.
Not happy.
Y'all need to get in front of this, Barry.
We need you there
Your pal,
Saturday, February 12, 2011
UPDATE 2.16.11: Government Launches Security Review of Business Acquisitions
Hey Barry:
Well, seems we have a committee to do just that. But, it appears to focus on military acquisitions, or more precisely, acquisitions of companies and technologies that might compromise our ability to fight a war.
And, they only make recommedations to you, Barry Obama. You make the final decision as to whether to sell a company or technology to a company in another country.
The current case is Huwei, which bought some technology that our CFIUS folks think is a bad idea to sell. I hope you'll deny the technology transfer.
HUAWEI UPDATE - 2.19.11
Seems Huawei has dropped the deal and is withdrawing the challenge. Read it here: http://www.pcworld.com/businesscenter/article/220183/chinas_huawei_to_reverse_controversial_deal_for_3leaf.html
On a broader note, Barry, you need to expand the committee so that it examines technologies and companies which will create lots of jobs in the future regardless of military applications.
That's the best way to secure our national economic future.
Once again, it's up to you Barry.
Keep your eye on the ball and trust your hands [instincts].
Our committee to "check that merger and acquisition deals struck by foreign firms ...do not endanger "national security" can be read about here: the Committee on Foreign Investment in the US
[http://www.fas.org/sgp/crs/homesec/RS22863.pdf]. It has the same goal as the Chinese. And, it's been around for years.
Good on us.
Your pal,
Well, seems we have a committee to do just that. But, it appears to focus on military acquisitions, or more precisely, acquisitions of companies and technologies that might compromise our ability to fight a war.
And, they only make recommedations to you, Barry Obama. You make the final decision as to whether to sell a company or technology to a company in another country.
The current case is Huwei, which bought some technology that our CFIUS folks think is a bad idea to sell. I hope you'll deny the technology transfer.
HUAWEI UPDATE - 2.19.11
Seems Huawei has dropped the deal and is withdrawing the challenge. Read it here: http://www.pcworld.com/businesscenter/article/220183/chinas_huawei_to_reverse_controversial_deal_for_3leaf.html
On a broader note, Barry, you need to expand the committee so that it examines technologies and companies which will create lots of jobs in the future regardless of military applications.
That's the best way to secure our national economic future.
Once again, it's up to you Barry.
Keep your eye on the ball and trust your hands [instincts].
Our committee to "check that merger and acquisition deals struck by foreign firms ...do not endanger "national security" can be read about here: the Committee on Foreign Investment in the US
[http://www.fas.org/sgp/crs/homesec/RS22863.pdf]. It has the same goal as the Chinese. And, it's been around for years.
Good on us.
Your pal,
Thursday, February 10, 2011
Fat Cats on Board with Saving Oil
Hey Barry:
Looks like you have the Generals and CEO's on board with saving energy.
Go 'head and push on it. Maybe fat cat muscle can give it a final boost. Finally, we can put the oil RICH guys in second place to what's good for all of us.
Read it here: http://dc.streetsblog.org/2011/02/10/retired-military-leaders-corporate-ceos-driving-alone-aids-terrorists/
Your pal,
Looks like you have the Generals and CEO's on board with saving energy.
Go 'head and push on it. Maybe fat cat muscle can give it a final boost. Finally, we can put the oil RICH guys in second place to what's good for all of us.
Read it here: http://dc.streetsblog.org/2011/02/10/retired-military-leaders-corporate-ceos-driving-alone-aids-terrorists/
Your pal,
Saturday, February 5, 2011
BAHRAIN 2.13.11: Predicting Revolution
Hey Barry:
Totally got that you're upset at intelligence for not predicting the revolutions.
But Barry, it aint simple, not by a long shot.
Predicting economic problems is a cakewalk in comparison, see my proposal to do that here: www.mkeever.com/eda.doc
Wow, predicting revolution - not so easy.
Memory serves up an axiom of revolution: people take revolutionary action when, and only when, they perceive that things are getting BETTER. Then they have hope, but are frustrated that change happens too slowly.
Here's how I would forecast revolution timing:
Develop a list of countries 'at risk' for revolution because of extreme income inequality, repressive regime, history of torture, high percentage of youth in population, high unemployment among youth and highly educated youth.
Rank countries on list by closeness to revolution.
Then, monitor social media and opposition press for indications of frustration at the pace of change: "Things are getting better, but we want more, now."
Pretty sure the combination of 'at risk' countries, as above, with perceived frustration at the pace of change will predict imminent revolution.
Change criteria over time as facts develop.
Include in daily briefing 'five countries most likely to experience social unrest in next 90 days.'
That's about all the intelligence can do Barry; it's way harder than rocket science.
It'd sure be fun, though. Sign me up.
UPDATE: BAHRAIN
U S Navy has an important base in Bahrain. That country appears vulnerable to uprisings at this point. Leaders are offering concessions to demonstrators, a possible sign that protestors will think thngs are getting better. Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/02/13/international/i034830S98.DTL
UPDATE: NIGERIA
We get a lot of oil from Nigeria, and it is currently devolving into a Somalia like morass. Probably not looking at imminent revolution there - seems people have little hope of improvement.
Read this: http://www.osundefender.org/?p=11842
And this: http://www.nytimes.com/2011/02/09/world/africa/09nigeria.html?partner=rss&emc=rss
Your pal,
Totally got that you're upset at intelligence for not predicting the revolutions.
But Barry, it aint simple, not by a long shot.
Predicting economic problems is a cakewalk in comparison, see my proposal to do that here: www.mkeever.com/eda.doc
Wow, predicting revolution - not so easy.
Memory serves up an axiom of revolution: people take revolutionary action when, and only when, they perceive that things are getting BETTER. Then they have hope, but are frustrated that change happens too slowly.
Here's how I would forecast revolution timing:
Develop a list of countries 'at risk' for revolution because of extreme income inequality, repressive regime, history of torture, high percentage of youth in population, high unemployment among youth and highly educated youth.
Rank countries on list by closeness to revolution.
Then, monitor social media and opposition press for indications of frustration at the pace of change: "Things are getting better, but we want more, now."
Pretty sure the combination of 'at risk' countries, as above, with perceived frustration at the pace of change will predict imminent revolution.
Change criteria over time as facts develop.
Include in daily briefing 'five countries most likely to experience social unrest in next 90 days.'
That's about all the intelligence can do Barry; it's way harder than rocket science.
It'd sure be fun, though. Sign me up.
UPDATE: BAHRAIN
U S Navy has an important base in Bahrain. That country appears vulnerable to uprisings at this point. Leaders are offering concessions to demonstrators, a possible sign that protestors will think thngs are getting better. Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/02/13/international/i034830S98.DTL
UPDATE: NIGERIA
We get a lot of oil from Nigeria, and it is currently devolving into a Somalia like morass. Probably not looking at imminent revolution there - seems people have little hope of improvement.
Read this: http://www.osundefender.org/?p=11842
And this: http://www.nytimes.com/2011/02/09/world/africa/09nigeria.html?partner=rss&emc=rss
Your pal,
Thursday, February 3, 2011
Bankers Have Egyptian Blood on Their Keyboards
Hey Barry:
Well, it's really a mess in Egypt and a few other countries in the Middle East.
Sad to say, our good ol Merican bankers like the Golden Sox boys have contributed to the mess in a big way. It's not a big stretch to say they have blood on their computers.
Here's the thing: our bankers have been speculating big time in commodities like oil and wheat. That drives up the price. Then the poor folks in Egypt can't afford to eat. It is no surprise when they riot in the streets. What would you do if you have no money to feed your kids?
The background is this: Both FDR in the 1930's and the Dodd-Frank bill last year recognized that speculators could disrupt world commodity markets unless they were controlled. So FDR installed controls that stabilized the markets - until the Golden Sox boys and others lobbied Congress to remove the limits in the 1990's.
Dodd-Frank re-introduced controls on commodities and commodity derivatives, BUT, their implementation has been delayed because of lobbying in your White House.
Itsa cryin and a killin shame Barry. You gotta get on this soon.
Here's a transcript of MSNBC's Ed Shultz show of February 1, 2011 on the topic:
ED "So what else do these countries - Yemen, Jordan, Egypt - have in common?
One thing is high food prices, a factor in how all the riots really started and how all of it started. And it's not a coincidence that all of them have high food prices right now. Food prices have skyrocketed around the world and a big reason for that is wall street.
It started in 1991 with surprise, surprise Goldman Saachs. Before then, wall street speculateors played only a minor role in food prices. The way it worked food companies and their suppliers, America's farmers, wanted to keep their business stable. Even if prices spiked for wheat, corn, or other agricultural commodities. So they'd hedge their bets, signing contracts, futures, to lock in prices for some point in the future. Speculators helped, putting enough money in the system to keep things liquid.
After the depression, FDR saw that speculators could drive up the price of wheat, corn, whatever, by betting on commodity futures the way wall street later bet on dot coms. Distorting food prices like that could destroy the very stability future contracts were created to provide so FDR signed into law what are called position limits -- limits on how much of the total betting could be done by wall street. And what do you know it worked.
For decades the price of wheat was driven by fundamentals like the weather and wall street couldn't stand it.
In 1991, Goldman Sachs asked the commodity futures trading commission, the CFTC, to give them a waiver on those position limits, so they could bet as much as they wanted.
A CFTC appointee for the first President Bush said sure. More than a dozen other firms followed suit. Goldman Sachs even created commodities indexes. To simplify the betting and goose casual investors into the casino.
Again, wall street followed suit. Remember the real estate bubble? Wall street wanted to hedge all of those bets it made on mortgages. So they ramped up their bets on commodities.
And when wall street started losing money on sub primes, they bet it on commodities instead. By 2008, wall street had five times more futures contracts in commodities than it did in 2002. Commodity indexes held about $13 billion in 2003. By 2008 it was over a quarter trillion. That's how we got the oil bubble.
And record high gas prices added to the cost of shipping food plus speculators looking for another bubble, and you get a food bubble. Estimates are speculators held 65% of corn futures' contracts. 68% Of soybean, 80% of wheat. By mid 2008, the IMF food price index jumped more than 80% in just a year and a half before. It was the first time in history the proportion of people going hungry worldwide went up.
The number of chronically malnourished people rose by 75 million in 2007. 40 Million in 2008. That's why Egypt had riots back in 2008. Along with 30 other countries, Italian moms marched against the price of pasta. Wall street speculators admitted they were doing it.
In 2006 Merrill Lynch said speculation accounted for 50% of the price of commodities. Half the price.
In 2008 a Goldman Sachs research paper said, quote, without question, increased fund flow into commodities has boosted prices. 2009, Even republican senator Tom Coburn admits the speculation, quote, helped to inflate futures prices and there by disconnect futures from cash prices impairing farmers' and grain elevators' ability to hedge price risk.
Even Coburn said there was so much wall street money distorting prices that farmers and other guys who actually need commodity futures couldn't use them to keep their companies stable anymore. We don't notice price hikes so much because most of our food prices come from marketing and packaging.
But in the developing world, the price of food is everything. And what country imports more wheat than any other? Egypt. Where the price of wheat rose 70% last year. Last summer Goldman called a report on the role of speculation in food prices, quote, misleading and blamed other factors.
A lot of reports mentioned that Russia cut off its wheat supply last year. What they don't tell you is why. Because futures traders asked them to.
Let's bring in my colleague Dylan Rhadigan. He has his own show here on msnbc week days at 4:00. Formerly of cnbc and bloomberg news.
Thanks for coming in tonight, Dylan.
DYLAN: I appreciate it it's a pleasure.
ED I know you have talked a lot about speculators and what has happened on wall street but this has really been a tsunami in the food world, which has caused a lot of havoc around the world. Tell us, these price hikes, strictly due to speculation?
DYLAN No. First I want to compliment you on your reporting, Ed. I think you did an exquisitely good job of describing the contributing factor that financial speculation has been in the spike not just in food prices but also in energy prices. Unfortunately there are other factors also in the financial community that are even more sinister. There's a mathematical certainty, Ed, that is this.
All the paper currency in the world, all the money, all the paper must by definition equal the value of all the commodities because a commodity is equal to what the value of the currencies are in the world.
In order to cover up the massive bank theft that's been perpetrated in this country in 2008, the Federal Reserve under the guidance of first President Bush and now President Obama as you know, ed, has been printing trillions of new dollars and people, smart financial planners, have been concerned about the debasing effect that has on our currency.
Well, as a direct result of the Federal Reserve's money printing, to cover up our bank theft, that has been an additional factor in causing commodity prices to explode higher.
So in addition to the speculative aspects that you describe so well, a by product of the federal reserve and the white house and the treasuries decision to go with money printing as a way to prop up our economy, is driving food prices higher.
ED You know, it's just an amazing domino effect.
DYLAN There is no doubt.
ED But what exactly are these commodity markets supposed to be accomplishing?
DYLAN Well, very simply, they're supposed to create price stability as you described in your piece. There is a very, very valid role for a futures market in commodities both for food consumers who would like to be able to have a stable price for bread, a stable price for milk, a stable price for cheese and meat, not just here but around the world. Rice, tortillas, pasta, I don't care where you live.
And if you are a farmer, you want to know that you can lock in a price on your farm in this country or any other for that price.
The position limits, which you referenced, are critical in that they represent a limit as to how much grain could potentially actually exist. The elimination of the position limit makes it such that you can suddenly buy more grain than exists on the entire planet because now you're just speculating on the price or potential price and creating all the price inflation you described so well.
ED High prices, rural america does well. That ag dollar turns seven times on main street. So America is loving this stuff as far as the ag economy is concerned. Then you take a look at the construction of -- and the manufacturing of all the big equipment that goes with it.
But somebody pays a price down the line. In this case, it is people of these countries that are run by dictators that can't provide for their people. There is the snowball effect.
DYLAN I would say it's the poorest billion, whether it's the poor in the Middle East, the poor in Asia or the poor in Louisiana and Arkansas, those are the only people who suffer from the financial shenanigans.
ED What has struck me about this event in Egypt is for all of our carrying on about the spread of democracy through military assault and the death of our own soldiers and Iraqi civilians all you had to do was double the price of grain in the middle east from your trading floor in Goldman Sachs to receive the democratic revolution we claim to be in favor of with our military the past ten years."
Caint let this stand Barry. Ya gotta do something.
Your pal,
Well, it's really a mess in Egypt and a few other countries in the Middle East.
Sad to say, our good ol Merican bankers like the Golden Sox boys have contributed to the mess in a big way. It's not a big stretch to say they have blood on their computers.
Here's the thing: our bankers have been speculating big time in commodities like oil and wheat. That drives up the price. Then the poor folks in Egypt can't afford to eat. It is no surprise when they riot in the streets. What would you do if you have no money to feed your kids?
The background is this: Both FDR in the 1930's and the Dodd-Frank bill last year recognized that speculators could disrupt world commodity markets unless they were controlled. So FDR installed controls that stabilized the markets - until the Golden Sox boys and others lobbied Congress to remove the limits in the 1990's.
Dodd-Frank re-introduced controls on commodities and commodity derivatives, BUT, their implementation has been delayed because of lobbying in your White House.
Itsa cryin and a killin shame Barry. You gotta get on this soon.
Here's a transcript of MSNBC's Ed Shultz show of February 1, 2011 on the topic:
ED "So what else do these countries - Yemen, Jordan, Egypt - have in common?
One thing is high food prices, a factor in how all the riots really started and how all of it started. And it's not a coincidence that all of them have high food prices right now. Food prices have skyrocketed around the world and a big reason for that is wall street.
It started in 1991 with surprise, surprise Goldman Saachs. Before then, wall street speculateors played only a minor role in food prices. The way it worked food companies and their suppliers, America's farmers, wanted to keep their business stable. Even if prices spiked for wheat, corn, or other agricultural commodities. So they'd hedge their bets, signing contracts, futures, to lock in prices for some point in the future. Speculators helped, putting enough money in the system to keep things liquid.
After the depression, FDR saw that speculators could drive up the price of wheat, corn, whatever, by betting on commodity futures the way wall street later bet on dot coms. Distorting food prices like that could destroy the very stability future contracts were created to provide so FDR signed into law what are called position limits -- limits on how much of the total betting could be done by wall street. And what do you know it worked.
For decades the price of wheat was driven by fundamentals like the weather and wall street couldn't stand it.
In 1991, Goldman Sachs asked the commodity futures trading commission, the CFTC, to give them a waiver on those position limits, so they could bet as much as they wanted.
A CFTC appointee for the first President Bush said sure. More than a dozen other firms followed suit. Goldman Sachs even created commodities indexes. To simplify the betting and goose casual investors into the casino.
Again, wall street followed suit. Remember the real estate bubble? Wall street wanted to hedge all of those bets it made on mortgages. So they ramped up their bets on commodities.
And when wall street started losing money on sub primes, they bet it on commodities instead. By 2008, wall street had five times more futures contracts in commodities than it did in 2002. Commodity indexes held about $13 billion in 2003. By 2008 it was over a quarter trillion. That's how we got the oil bubble.
And record high gas prices added to the cost of shipping food plus speculators looking for another bubble, and you get a food bubble. Estimates are speculators held 65% of corn futures' contracts. 68% Of soybean, 80% of wheat. By mid 2008, the IMF food price index jumped more than 80% in just a year and a half before. It was the first time in history the proportion of people going hungry worldwide went up.
The number of chronically malnourished people rose by 75 million in 2007. 40 Million in 2008. That's why Egypt had riots back in 2008. Along with 30 other countries, Italian moms marched against the price of pasta. Wall street speculators admitted they were doing it.
In 2006 Merrill Lynch said speculation accounted for 50% of the price of commodities. Half the price.
In 2008 a Goldman Sachs research paper said, quote, without question, increased fund flow into commodities has boosted prices. 2009, Even republican senator Tom Coburn admits the speculation, quote, helped to inflate futures prices and there by disconnect futures from cash prices impairing farmers' and grain elevators' ability to hedge price risk.
Even Coburn said there was so much wall street money distorting prices that farmers and other guys who actually need commodity futures couldn't use them to keep their companies stable anymore. We don't notice price hikes so much because most of our food prices come from marketing and packaging.
But in the developing world, the price of food is everything. And what country imports more wheat than any other? Egypt. Where the price of wheat rose 70% last year. Last summer Goldman called a report on the role of speculation in food prices, quote, misleading and blamed other factors.
A lot of reports mentioned that Russia cut off its wheat supply last year. What they don't tell you is why. Because futures traders asked them to.
Let's bring in my colleague Dylan Rhadigan. He has his own show here on msnbc week days at 4:00. Formerly of cnbc and bloomberg news.
Thanks for coming in tonight, Dylan.
DYLAN: I appreciate it it's a pleasure.
ED I know you have talked a lot about speculators and what has happened on wall street but this has really been a tsunami in the food world, which has caused a lot of havoc around the world. Tell us, these price hikes, strictly due to speculation?
DYLAN No. First I want to compliment you on your reporting, Ed. I think you did an exquisitely good job of describing the contributing factor that financial speculation has been in the spike not just in food prices but also in energy prices. Unfortunately there are other factors also in the financial community that are even more sinister. There's a mathematical certainty, Ed, that is this.
All the paper currency in the world, all the money, all the paper must by definition equal the value of all the commodities because a commodity is equal to what the value of the currencies are in the world.
In order to cover up the massive bank theft that's been perpetrated in this country in 2008, the Federal Reserve under the guidance of first President Bush and now President Obama as you know, ed, has been printing trillions of new dollars and people, smart financial planners, have been concerned about the debasing effect that has on our currency.
Well, as a direct result of the Federal Reserve's money printing, to cover up our bank theft, that has been an additional factor in causing commodity prices to explode higher.
So in addition to the speculative aspects that you describe so well, a by product of the federal reserve and the white house and the treasuries decision to go with money printing as a way to prop up our economy, is driving food prices higher.
ED You know, it's just an amazing domino effect.
DYLAN There is no doubt.
ED But what exactly are these commodity markets supposed to be accomplishing?
DYLAN Well, very simply, they're supposed to create price stability as you described in your piece. There is a very, very valid role for a futures market in commodities both for food consumers who would like to be able to have a stable price for bread, a stable price for milk, a stable price for cheese and meat, not just here but around the world. Rice, tortillas, pasta, I don't care where you live.
And if you are a farmer, you want to know that you can lock in a price on your farm in this country or any other for that price.
The position limits, which you referenced, are critical in that they represent a limit as to how much grain could potentially actually exist. The elimination of the position limit makes it such that you can suddenly buy more grain than exists on the entire planet because now you're just speculating on the price or potential price and creating all the price inflation you described so well.
ED High prices, rural america does well. That ag dollar turns seven times on main street. So America is loving this stuff as far as the ag economy is concerned. Then you take a look at the construction of -- and the manufacturing of all the big equipment that goes with it.
But somebody pays a price down the line. In this case, it is people of these countries that are run by dictators that can't provide for their people. There is the snowball effect.
DYLAN I would say it's the poorest billion, whether it's the poor in the Middle East, the poor in Asia or the poor in Louisiana and Arkansas, those are the only people who suffer from the financial shenanigans.
ED What has struck me about this event in Egypt is for all of our carrying on about the spread of democracy through military assault and the death of our own soldiers and Iraqi civilians all you had to do was double the price of grain in the middle east from your trading floor in Goldman Sachs to receive the democratic revolution we claim to be in favor of with our military the past ten years."
Caint let this stand Barry. Ya gotta do something.
Your pal,
Sunday, January 30, 2011
Lessons From Egypt
Hey Barry:
Been thinking about the riots and revolution in Egypt, Tunisia, Jordan and other mid-east countries.
Here's a question for us: What can we learn from them?
I think we can watch carefully and learn what government actions 'work' to restore stability and which do not 'work'. 'Work' is in quotes because there can be a tendency to stop reforms after short term solutions create an appearance of calm. If the short term actions are not followed by solutions which address the underlying structural issues, a danger then exists that the unrest will reappear at a later time.
The common theme across the region appears to be frustration at economic injustice. You can read it here: http://www.google.com/hostednews/ap/article/ALeqM5hP9QSsUxtsG857BtLliCZ6mVJ0rQ?docId=963a7f0a2f72410b8724a8c39e9e40e9
Here's a link to a CNN history: http://edition.cnn.com/2011/WORLD/africa/01/31/egypt.protests.qanda/
Some mothers cannot feed their families and some university graduates cannot find jobs. At the same time, the populations have the perception that their society is corrupt - the rich people take all the money from the country and leave the rest to struggle and/or starve.
I fear that your government, Barry, will stand by and proclaim that 'democracy' will solve economic injustice. I don't think that plain ol democracy - in the form of free elections - is enough to prevent economic injustice. We have both, Barry. We have both.
Our foreign policy does not require that governments which receive our aid money make changes to reduce the levels of injustice. Street rioters then can blame the U S of A - with some justification - as supporting that injustice.
My hope is that one of the afflicted countries finds some mechanism to reduce the level of economic injustice so that average folks can have a decent life.
That would be a good lesson to bring home Barry. Then we could apply it here.
Your pal,
Been thinking about the riots and revolution in Egypt, Tunisia, Jordan and other mid-east countries.
Here's a question for us: What can we learn from them?
I think we can watch carefully and learn what government actions 'work' to restore stability and which do not 'work'. 'Work' is in quotes because there can be a tendency to stop reforms after short term solutions create an appearance of calm. If the short term actions are not followed by solutions which address the underlying structural issues, a danger then exists that the unrest will reappear at a later time.
The common theme across the region appears to be frustration at economic injustice. You can read it here: http://www.google.com/hostednews/ap/article/ALeqM5hP9QSsUxtsG857BtLliCZ6mVJ0rQ?docId=963a7f0a2f72410b8724a8c39e9e40e9
Here's a link to a CNN history: http://edition.cnn.com/2011/WORLD/africa/01/31/egypt.protests.qanda/
Some mothers cannot feed their families and some university graduates cannot find jobs. At the same time, the populations have the perception that their society is corrupt - the rich people take all the money from the country and leave the rest to struggle and/or starve.
I fear that your government, Barry, will stand by and proclaim that 'democracy' will solve economic injustice. I don't think that plain ol democracy - in the form of free elections - is enough to prevent economic injustice. We have both, Barry. We have both.
Our foreign policy does not require that governments which receive our aid money make changes to reduce the levels of injustice. Street rioters then can blame the U S of A - with some justification - as supporting that injustice.
My hope is that one of the afflicted countries finds some mechanism to reduce the level of economic injustice so that average folks can have a decent life.
That would be a good lesson to bring home Barry. Then we could apply it here.
Your pal,
Saturday, January 29, 2011
It's Official: Banks Caused Recession
Hey Barry:
Phil Angelides and the Financial Crisis Inquiry Commission have investigated the banking crisis. I list their conclusions below and there is plenty of blame to go around.
You can read the report here: http://fcic.gov/report
Clearly the major factors were bankers who acted recklessly, and occasionally criminally, and a poor to non-existent regulation structure.
The crisis was both preventable and predictable. Sadly, it WILL happen again unless strong additional steps are taken to prevent it.
Here are the conclusions:
"...We conclude this financial crisis was avoidable. The crisis was the result of human action and inaction, not of Mother Nature or computer models gone haywire. The captains of finance and the public stewards of our financial system ignored warnings and failed to question, understand, and manage evolving risks within a system essential to the well-being of the American public...
We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets. The sentries were not at their posts, in no small part due to the widely accepted faith in the selfcorrecting nature of the markets and the ability of financial institutions to effectively police themselves. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avoid catastrophe...
We conclude dramatic failures of corporate governance and risk management at many systemically important financial institutions were a key cause of this crisis. There was a view that instincts for self-preservation inside major financial firms would shield them from fatal risk-taking without the need for a steady regulatory hand, which, the firms argued, would stifle innovation. Too many of these institutions acted recklessly, taking on too much risk, with too little capital, and with too much dependence on short-term funding...
We conclude a combination of excessive borrowing, risky investments, and lack of transparency put the financial system on a collision course with crisis. Clearly, this vulnerability was related to failures of corporate governance and regulation, but it is significant enough by itself to warrant our attention here...
We conclude the government was ill prepared for the crisis, and its inconsistent response added to the uncertainty and panic in the financial markets. As part of our charge, it was appropriate to review government actions taken in response to the
developing crisis, not just those policies or actions that preceded it, to determine if any of those responses contributed to or exacerbated the crisis...
We conclude there was a systemic breakdown in accountability and ethics. The integrity of our financial markets and the public’s trust in those markets are essential to the economic well-being of our nation...
We conclude collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis...
We conclude over-the-counter derivatives contributed significantly to this crisis. The enactment of legislation in 2000 to ban the regulation by both the federal and state governments of over-the-counter (OTC) derivatives was a key turning point in the march toward the financial crisis...
We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction. The three credit rating agencies were key enablers of the financial meltdown..."
On a related note, from Susanne Craig of the New York Times: "Lloyd C. Blankfein, the chief executive of Goldman Sachs, had a rough 2010. But at least he got a raise: his bonus increased by $3.6 million, according to a regulatory filing.
The firm’s board granted restricted stock valued at $12.6 million to Mr. Blankfein and other senior executives, including Gary D. Cohn, the firm’s president. The board also approved a new annual base salary of $2 million for its chief executive, up from $600,000. Mr. Cohn and others will see their base salaries increase to $1.85 million, according to the filing on Friday."
Your pal,
Phil Angelides and the Financial Crisis Inquiry Commission have investigated the banking crisis. I list their conclusions below and there is plenty of blame to go around.
You can read the report here: http://fcic.gov/report
Clearly the major factors were bankers who acted recklessly, and occasionally criminally, and a poor to non-existent regulation structure.
The crisis was both preventable and predictable. Sadly, it WILL happen again unless strong additional steps are taken to prevent it.
Here are the conclusions:
"...We conclude this financial crisis was avoidable. The crisis was the result of human action and inaction, not of Mother Nature or computer models gone haywire. The captains of finance and the public stewards of our financial system ignored warnings and failed to question, understand, and manage evolving risks within a system essential to the well-being of the American public...
We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets. The sentries were not at their posts, in no small part due to the widely accepted faith in the selfcorrecting nature of the markets and the ability of financial institutions to effectively police themselves. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avoid catastrophe...
We conclude dramatic failures of corporate governance and risk management at many systemically important financial institutions were a key cause of this crisis. There was a view that instincts for self-preservation inside major financial firms would shield them from fatal risk-taking without the need for a steady regulatory hand, which, the firms argued, would stifle innovation. Too many of these institutions acted recklessly, taking on too much risk, with too little capital, and with too much dependence on short-term funding...
We conclude a combination of excessive borrowing, risky investments, and lack of transparency put the financial system on a collision course with crisis. Clearly, this vulnerability was related to failures of corporate governance and regulation, but it is significant enough by itself to warrant our attention here...
We conclude the government was ill prepared for the crisis, and its inconsistent response added to the uncertainty and panic in the financial markets. As part of our charge, it was appropriate to review government actions taken in response to the
developing crisis, not just those policies or actions that preceded it, to determine if any of those responses contributed to or exacerbated the crisis...
We conclude there was a systemic breakdown in accountability and ethics. The integrity of our financial markets and the public’s trust in those markets are essential to the economic well-being of our nation...
We conclude collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis...
We conclude over-the-counter derivatives contributed significantly to this crisis. The enactment of legislation in 2000 to ban the regulation by both the federal and state governments of over-the-counter (OTC) derivatives was a key turning point in the march toward the financial crisis...
We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction. The three credit rating agencies were key enablers of the financial meltdown..."
On a related note, from Susanne Craig of the New York Times: "Lloyd C. Blankfein, the chief executive of Goldman Sachs, had a rough 2010. But at least he got a raise: his bonus increased by $3.6 million, according to a regulatory filing.
The firm’s board granted restricted stock valued at $12.6 million to Mr. Blankfein and other senior executives, including Gary D. Cohn, the firm’s president. The board also approved a new annual base salary of $2 million for its chief executive, up from $600,000. Mr. Cohn and others will see their base salaries increase to $1.85 million, according to the filing on Friday."
Your pal,
Saturday, January 22, 2011
Open Letter to Keith Olbermann
Hey Barry:
I'm writing to Keith, but you can read.
Hey Keith:
Thanks for your vision and integrity. You are a hero. You have been telling truth to power for several years. It's really not a surprise that the power reacted.
Theirs was the oldest response in the books - kill the messenger, ignore the news.
I know you will find a new outlet and I look forward to hearing from you again soon.
In the meantime I offer you this space at any time you are interested. My audience is hundreds and not millions, but it is yours if you wish.
Your pal,
I'm writing to Keith, but you can read.
Hey Keith:
Thanks for your vision and integrity. You are a hero. You have been telling truth to power for several years. It's really not a surprise that the power reacted.
Theirs was the oldest response in the books - kill the messenger, ignore the news.
I know you will find a new outlet and I look forward to hearing from you again soon.
In the meantime I offer you this space at any time you are interested. My audience is hundreds and not millions, but it is yours if you wish.
Your pal,
Wrong Way to Jobs
Hey Barry:
It is good that you are concerned about American jobs, because Lord knows we need some more.
But I am concerned that you are taking some wrong turns to get more jobs.
SAN FRANCISCO MARCH AGAINST THE KOREAN FREE TRADE AGREEMENT
Wrong turn number one is a new Free Trade agreement with South Korea. The well documented history of FTA's is that they reduce total American jobs - they do not increase them. While there may be some few jobs generated as a result, on balance they reduce total US employment.
There will be a march in San Francisco next Saturday January 29, 2011. The march will go from Nancy Pelosi's house to the Korean consulate. People from a wide spectrum of political opinion will march to protest the FTA with Korea. Organizers are expecting academics, students, business leaders, union representatives and perhaps even Tea Baggers to participate.
To join the march supporting American jobs, please RSVP to Ian Fletcher at ian.fletcher@usbic.net for location and other details.
JOB KILLER IMMELT HEADS PANEL TO CREATE AMERICAN JOBS
Wrong turn number two is the appointment of GE's CEO Jeffrey Immelt to head a panel about creating American jobs. "General Electric (NYSE: GE) is hostile to the union movement and is committed to outsourcing American jobs to foreign (cheaper) workers", according to an article in the International Business Times [http://www.ibtimes.com/articles/103735/20110121/immelt-jobs-unions-outsourcing.htm#].
It just does not make any sense Barry. You really need to work on your econs in DC so they get a better understanding of the relationship between trade and US jobs.
Their ignorance is hurting us on Main Street. It may help the plutocrats on Wall Street, but it hurts us, Barry.
I'm worried.
Your pal,
It is good that you are concerned about American jobs, because Lord knows we need some more.
But I am concerned that you are taking some wrong turns to get more jobs.
SAN FRANCISCO MARCH AGAINST THE KOREAN FREE TRADE AGREEMENT
Wrong turn number one is a new Free Trade agreement with South Korea. The well documented history of FTA's is that they reduce total American jobs - they do not increase them. While there may be some few jobs generated as a result, on balance they reduce total US employment.
There will be a march in San Francisco next Saturday January 29, 2011. The march will go from Nancy Pelosi's house to the Korean consulate. People from a wide spectrum of political opinion will march to protest the FTA with Korea. Organizers are expecting academics, students, business leaders, union representatives and perhaps even Tea Baggers to participate.
To join the march supporting American jobs, please RSVP to Ian Fletcher at ian.fletcher@usbic.net for location and other details.
JOB KILLER IMMELT HEADS PANEL TO CREATE AMERICAN JOBS
Wrong turn number two is the appointment of GE's CEO Jeffrey Immelt to head a panel about creating American jobs. "General Electric (NYSE: GE) is hostile to the union movement and is committed to outsourcing American jobs to foreign (cheaper) workers", according to an article in the International Business Times [http://www.ibtimes.com/articles/103735/20110121/immelt-jobs-unions-outsourcing.htm#].
It just does not make any sense Barry. You really need to work on your econs in DC so they get a better understanding of the relationship between trade and US jobs.
Their ignorance is hurting us on Main Street. It may help the plutocrats on Wall Street, but it hurts us, Barry.
I'm worried.
Your pal,
Tuesday, January 18, 2011
Time Travel: Really
Hey Barry,
Two Australian physicists, University of Queensland's Jay Olson and Timothy Ralph, claim that the basic physics of quantum particles suggests that time travel may be possible someday.
Read it here: http://gizmodo.com/5736217/scientist-discovers-time-teleportation
Never a dull moment.
Your pal,
Two Australian physicists, University of Queensland's Jay Olson and Timothy Ralph, claim that the basic physics of quantum particles suggests that time travel may be possible someday.
Read it here: http://gizmodo.com/5736217/scientist-discovers-time-teleportation
Never a dull moment.
Your pal,
Monday, January 17, 2011
National Security: Status of the Country
Hey Barry:
READERSHIP OF THIS SPACE
Before reviewing my personal list of United States national security issues, I'll take a moment to acknowledge that this space has an international audience as well as an American one. Half the readers are from the US while the balance is from other countries including Netherlands, Malaysia, South Korea, Russia, South Africa, Germany, Ukraine, France, Sweden, Brazil and Switzerland. The proportion of international readers has been increasing lately.
GOAL OF THIS SCRIBE
So Barry, as you work on your address on the State of the Union, you most likely have your speech down pat and are just putting on the finishing touches. Probably your goal is to be as balanced as possible and to encourage hope about our future.
My goal here is a little different - I will try to be as realistic as possible without being overly cynical.
I began this exercise in 2007 by commenting on a list of nine items critical to the national security of the United States. An update of that list follows.
SUPPERRICH: GROWING THREAT TO NATIONAL SECURITY
A new item has come to the head of the list: The biggest threat to our future is the continuing creation of a class of super rich billionaires. As addressed in earlier posts, this trend has created a plutocracy which will be with us for generations. These vast fortunes take on a momentum of their own and corrupt the systems the Founding Fathers installed to prevent just the problem we face today.
At the same time this new class of billionaires has been created, the living standard of most Americans has remained the same or declined slightly from the 1970's. For example, African Americans have seen half of the total wealth they accumulated as a group since the civil war eliminated due to the recent housing bubble.
Without direct action to tax away the big fortunes and ensure the prosperity of the middle class, the United States will decline as a nation and a force for good in the world.
This situation is especially troubling for your administration since one of your campaign issues was specifically to address this issue.
POLITICAL CORRUPTION
Second on my list of national security issues is political corruption. This issue damages national security if private interests can sway public policy to favor private gain over public good. The United States of America is thoroughly corrupt. Money interests routinely gain laws that favor them over the greater public good.
MILITARY/INDUSTRIAL COMPLEX
Third is the military industrial complex. While the negative effect of this issue is somewhat subsumed under the income disparity issue above, the concentration of interests designed to promote war and wasteful government spending for weapons is still a major threat to our security. Your administration and Defense Secretary Gates have made some laudable moves to control this question, but so far the results are not adequate to remove this issue from the critical list. The Weapons Systems Acquisition Reform Act is only a start.
ENERGY POLICY
Fourth is energy. Although your administration has worked diligently to revise our national energy policy, political corruption has thwarted most of your proposals. This is a clear case where private interests act against the national interest.
UNION MEMBERSHIP
Fifth are unions. I perceive this issue as a means to counteract the influence of the plutocracy and to assist the middle class achieve a better living standard. I have not seen any progress in this area; of course, it is entirely possible I have missed it.
The Lilly Ledbetter Fair Pay Act helps women and the Health insurance reform helps families and small businesses. But, the health insurance reform does not bring the USA up to first world standards and will be attacked by the REPS.
ELECTION FRAUD
Sixth are elections. Electronic voting machines are susceptible to fraud and there has been no significant movement to restore more trustworthy voting methods. We are vulnerable to election fraud.
JUDICIAL INDEPENDENCE
Seventh is judicial independence. This question remains critical and there is little movement to repair it. Congress continues to block judicial appointments for spurious reasons. This inability to appoint an adequate number of judges compromises the integrity of the process.
TRADE DEFICIT
Eighth is our trade deficit. As a nation we continue to run a substantial trade deficit. Ultimately this imbalance will be corrected whether we correct it deliberately or wait for financial forces to make the adjustment. If we do not act deliberately, we will suffer greater hardship by letting outside forces make the adjustment for us. A continuing infatuation with the economic theory of Free Trade prevents us from examining the question honestly. It is past time to re-examine our trade policy.
BANKS
Last, but not least, our banks have continued to run amok. The recent housing bubble resulted from shoddy or criminal bank practices and brought ruin to millions of families worldwide. While you did pass a bank regulation act that promises better regulation, the law is not adequate to the task. We will see further crises until and unless the regulations are strengthened.
A banker told me that the next bubble will be in tech stocks. Already there are cubicle farms of people doing nothing while an IPO is being written. The founders' game plan: pocket the cash and disappear.
Your appointment of Elizabeth Warren is a notable bright spot.
OTHER CRITICAL ISSUES
In addition to the above challenges, we face a number of issues that demand immediate attention; among these are: huge and unsustainable budget deficits; the present and future fiscal crisis at the city, county and state levels that will reduce local services such as police, fire and schools [see article about Camden NJ - http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/01/18/national/a055102S83.DTL]; lack of domestic demand sufficient to promote domestic growth while that growth is required to overcome the budget deficits; a political deadlock with parties who refuse to act in the national interest; the looming shadow of a European financial meltdown; and, actively fighting two major wars drains our treasury, undermines political support of your government and kills our young people. There are others of course, but these spring to mind immediately.
We are with you Barry. We know your plate is full.
Just keep telling what we can do to help you.
Your pal,
READERSHIP OF THIS SPACE
Before reviewing my personal list of United States national security issues, I'll take a moment to acknowledge that this space has an international audience as well as an American one. Half the readers are from the US while the balance is from other countries including Netherlands, Malaysia, South Korea, Russia, South Africa, Germany, Ukraine, France, Sweden, Brazil and Switzerland. The proportion of international readers has been increasing lately.
GOAL OF THIS SCRIBE
So Barry, as you work on your address on the State of the Union, you most likely have your speech down pat and are just putting on the finishing touches. Probably your goal is to be as balanced as possible and to encourage hope about our future.
My goal here is a little different - I will try to be as realistic as possible without being overly cynical.
I began this exercise in 2007 by commenting on a list of nine items critical to the national security of the United States. An update of that list follows.
SUPPERRICH: GROWING THREAT TO NATIONAL SECURITY
A new item has come to the head of the list: The biggest threat to our future is the continuing creation of a class of super rich billionaires. As addressed in earlier posts, this trend has created a plutocracy which will be with us for generations. These vast fortunes take on a momentum of their own and corrupt the systems the Founding Fathers installed to prevent just the problem we face today.
At the same time this new class of billionaires has been created, the living standard of most Americans has remained the same or declined slightly from the 1970's. For example, African Americans have seen half of the total wealth they accumulated as a group since the civil war eliminated due to the recent housing bubble.
Without direct action to tax away the big fortunes and ensure the prosperity of the middle class, the United States will decline as a nation and a force for good in the world.
This situation is especially troubling for your administration since one of your campaign issues was specifically to address this issue.
POLITICAL CORRUPTION
Second on my list of national security issues is political corruption. This issue damages national security if private interests can sway public policy to favor private gain over public good. The United States of America is thoroughly corrupt. Money interests routinely gain laws that favor them over the greater public good.
MILITARY/INDUSTRIAL COMPLEX
Third is the military industrial complex. While the negative effect of this issue is somewhat subsumed under the income disparity issue above, the concentration of interests designed to promote war and wasteful government spending for weapons is still a major threat to our security. Your administration and Defense Secretary Gates have made some laudable moves to control this question, but so far the results are not adequate to remove this issue from the critical list. The Weapons Systems Acquisition Reform Act is only a start.
ENERGY POLICY
Fourth is energy. Although your administration has worked diligently to revise our national energy policy, political corruption has thwarted most of your proposals. This is a clear case where private interests act against the national interest.
UNION MEMBERSHIP
Fifth are unions. I perceive this issue as a means to counteract the influence of the plutocracy and to assist the middle class achieve a better living standard. I have not seen any progress in this area; of course, it is entirely possible I have missed it.
The Lilly Ledbetter Fair Pay Act helps women and the Health insurance reform helps families and small businesses. But, the health insurance reform does not bring the USA up to first world standards and will be attacked by the REPS.
ELECTION FRAUD
Sixth are elections. Electronic voting machines are susceptible to fraud and there has been no significant movement to restore more trustworthy voting methods. We are vulnerable to election fraud.
JUDICIAL INDEPENDENCE
Seventh is judicial independence. This question remains critical and there is little movement to repair it. Congress continues to block judicial appointments for spurious reasons. This inability to appoint an adequate number of judges compromises the integrity of the process.
TRADE DEFICIT
Eighth is our trade deficit. As a nation we continue to run a substantial trade deficit. Ultimately this imbalance will be corrected whether we correct it deliberately or wait for financial forces to make the adjustment. If we do not act deliberately, we will suffer greater hardship by letting outside forces make the adjustment for us. A continuing infatuation with the economic theory of Free Trade prevents us from examining the question honestly. It is past time to re-examine our trade policy.
BANKS
Last, but not least, our banks have continued to run amok. The recent housing bubble resulted from shoddy or criminal bank practices and brought ruin to millions of families worldwide. While you did pass a bank regulation act that promises better regulation, the law is not adequate to the task. We will see further crises until and unless the regulations are strengthened.
A banker told me that the next bubble will be in tech stocks. Already there are cubicle farms of people doing nothing while an IPO is being written. The founders' game plan: pocket the cash and disappear.
Your appointment of Elizabeth Warren is a notable bright spot.
OTHER CRITICAL ISSUES
In addition to the above challenges, we face a number of issues that demand immediate attention; among these are: huge and unsustainable budget deficits; the present and future fiscal crisis at the city, county and state levels that will reduce local services such as police, fire and schools [see article about Camden NJ - http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/01/18/national/a055102S83.DTL]; lack of domestic demand sufficient to promote domestic growth while that growth is required to overcome the budget deficits; a political deadlock with parties who refuse to act in the national interest; the looming shadow of a European financial meltdown; and, actively fighting two major wars drains our treasury, undermines political support of your government and kills our young people. There are others of course, but these spring to mind immediately.
We are with you Barry. We know your plate is full.
Just keep telling what we can do to help you.
Your pal,
Thursday, January 13, 2011
Christina Taylor Green, R I P, and Daniel Hernandez
Hey Barry
Great speech yesterday - brought tears to my eyes, lotta tears.
At the same time you gave us hope for the future with your talk about Christina Taylor Green and Daniel Hernandez.
While we have children and young adults like these, we have a bright future.
Also, I am reminded that the tragedy or a very similar one was inevitable and will probably be repeated.
There are a couple of reasons that these tragedies will happen again.
First, our gun laws are quite simply insane. The RICH folks who sell death on our streets have corrupted Congress and the state legislatures so that they are unable to pass laws that will stop the killing.
The best tribute to Christina's memory will be effective gun control.
Second, our mental health care is ineffective. Insurance companies fight to deny coverage for mental issues because treating mentally ill people is expensive.
I believe that your health insurance program extends coverage for mental issues.
As a tribute to both Christina and Daniel, please do not let that coverage be deleted.
And, as difficult as these two issues are, they are just the tip of the societal malaise iceberg which exists in the U S of A. You can get a handle on that iceberg by reading Daniel Parenti on 'DIRTY TRUTHS' here: http://www.michaelparenti.org/HiddenHolocaust.html
We have a lot of work to do Barry.
Lotta work.
Your pal,
Great speech yesterday - brought tears to my eyes, lotta tears.
At the same time you gave us hope for the future with your talk about Christina Taylor Green and Daniel Hernandez.
While we have children and young adults like these, we have a bright future.
Also, I am reminded that the tragedy or a very similar one was inevitable and will probably be repeated.
There are a couple of reasons that these tragedies will happen again.
First, our gun laws are quite simply insane. The RICH folks who sell death on our streets have corrupted Congress and the state legislatures so that they are unable to pass laws that will stop the killing.
The best tribute to Christina's memory will be effective gun control.
Second, our mental health care is ineffective. Insurance companies fight to deny coverage for mental issues because treating mentally ill people is expensive.
I believe that your health insurance program extends coverage for mental issues.
As a tribute to both Christina and Daniel, please do not let that coverage be deleted.
And, as difficult as these two issues are, they are just the tip of the societal malaise iceberg which exists in the U S of A. You can get a handle on that iceberg by reading Daniel Parenti on 'DIRTY TRUTHS' here: http://www.michaelparenti.org/HiddenHolocaust.html
We have a lot of work to do Barry.
Lotta work.
Your pal,
Sunday, January 9, 2011
Political Vitriol and Death
Hey Barry:
The recent shooting in Tucson causes me to pray for the victims and families; and, to reflect on our political discourse in general.
As far as I am aware, there is no causal link established at this time between national politics and the shootings, but lots of folks have commented on the seeming lack of civility in our discussion today.
As historical background, politics in the US of A have been even more overheated, personal and vitriolic in the past. It is a tradition. Our rhetoric today pales in comparison with historical campaigns.
For example, John Quincy Adams was in a nasty fight with Andrew Jackson that involved name calling and the respective families. It was not pretty. And, recall that we even had a Civil War about politics. In that light, today's 'excesses' can appear mild.
But, the world is different now, and we are less tolerant.
And, there are a lot of whack jobs with access to firepower that was unimagined in the 18th and 19th centuries. So, perhaps a little civility can be a good thing.
I confess to some past excesses in this space. They spring from a frustration about issues which seem critical but appear to be ignored. And, today's REPS have mastered the art of unpleasant politics while the today's DEMS have seemed tame. But, it is not for me to balance the scales.
It is my considered opinion that the most critical issue affecting our national security today is an accumulation of wealth and power in too few hands unbalanced by patriotism or control.
It is not about the people who collect the wealth and power - it is the accumulation itself. Our system guarantees that some will collect wealth and power and that those people will exercise that power to the detriment of the national interest. There are only two things which can mitigate that inevitability: first, the generous instincts of the possessors; second, national government policies which actively attempt to reduce its influence.
Our continuing failure to limit the pernicious effects of wealth concentrations is harbringing the decline of our country's fairness, influence and power.
On top of that, those with power have a vested interest in preventing amelioration of their power. They also possess the means and will to prevent any effective limits on themselves.
That leaves the rest of us dependent on their conscience and good wishes. I for one do not rely on the charitable impulses of a plutocratic class.
It is time for the national goverment to take a stand on this issue and assert control over the great fortunes.
That's you Barry.
Your pal,
The recent shooting in Tucson causes me to pray for the victims and families; and, to reflect on our political discourse in general.
As far as I am aware, there is no causal link established at this time between national politics and the shootings, but lots of folks have commented on the seeming lack of civility in our discussion today.
As historical background, politics in the US of A have been even more overheated, personal and vitriolic in the past. It is a tradition. Our rhetoric today pales in comparison with historical campaigns.
For example, John Quincy Adams was in a nasty fight with Andrew Jackson that involved name calling and the respective families. It was not pretty. And, recall that we even had a Civil War about politics. In that light, today's 'excesses' can appear mild.
But, the world is different now, and we are less tolerant.
And, there are a lot of whack jobs with access to firepower that was unimagined in the 18th and 19th centuries. So, perhaps a little civility can be a good thing.
I confess to some past excesses in this space. They spring from a frustration about issues which seem critical but appear to be ignored. And, today's REPS have mastered the art of unpleasant politics while the today's DEMS have seemed tame. But, it is not for me to balance the scales.
It is my considered opinion that the most critical issue affecting our national security today is an accumulation of wealth and power in too few hands unbalanced by patriotism or control.
It is not about the people who collect the wealth and power - it is the accumulation itself. Our system guarantees that some will collect wealth and power and that those people will exercise that power to the detriment of the national interest. There are only two things which can mitigate that inevitability: first, the generous instincts of the possessors; second, national government policies which actively attempt to reduce its influence.
Our continuing failure to limit the pernicious effects of wealth concentrations is harbringing the decline of our country's fairness, influence and power.
On top of that, those with power have a vested interest in preventing amelioration of their power. They also possess the means and will to prevent any effective limits on themselves.
That leaves the rest of us dependent on their conscience and good wishes. I for one do not rely on the charitable impulses of a plutocratic class.
It is time for the national goverment to take a stand on this issue and assert control over the great fortunes.
That's you Barry.
Your pal,
Saturday, January 8, 2011
Political? Rep Gabrielle Giffords (D. AZ) Shot
Hey Barry:
A person in Tucson shot Rep. Gabrielle Giffords (D. AZ) and several other people at a rally today. Reports are that the assailant used an automatic weapon.
No idea of reasons or motives yet, but it makes one stop and think.
Is this the result of hyperpartisan politics, or something else?
Your pal
A person in Tucson shot Rep. Gabrielle Giffords (D. AZ) and several other people at a rally today. Reports are that the assailant used an automatic weapon.
No idea of reasons or motives yet, but it makes one stop and think.
Is this the result of hyperpartisan politics, or something else?
Your pal
Friday, January 7, 2011
Bank Regs - Not Working
Hey Barry:
Well, it's looking like the bank regs are not working. The point of the regs was, I think, to prevent any more bubbles caused by banks buying stuff with free money from the FED.
But, here we are with the Golden Sox guys buyin up Facebook in a secret deal with our money. They get all the upside and we take the downside. Since the money is free to them and since we take the losses, they can bid up the price of whatever they want until it crashes and we are holding the bag again.
Wot the hell, Barry. Not supposed to be that way. If there are any more of these deals, we are sure of another economic crash. Plain as the nose on my face[book].
Jon Stewart calls it out here: http://www.huffingtonpost.com/2011/01/07/stewart-facebook-goldman-_n_805701.html?ir=Business
If this don't get fixed, itsa nother nail in our coffin.
We countin on y'all up there to put a stop to this casino banking with our money.
Your pal,
Well, it's looking like the bank regs are not working. The point of the regs was, I think, to prevent any more bubbles caused by banks buying stuff with free money from the FED.
But, here we are with the Golden Sox guys buyin up Facebook in a secret deal with our money. They get all the upside and we take the downside. Since the money is free to them and since we take the losses, they can bid up the price of whatever they want until it crashes and we are holding the bag again.
Wot the hell, Barry. Not supposed to be that way. If there are any more of these deals, we are sure of another economic crash. Plain as the nose on my face[book].
Jon Stewart calls it out here: http://www.huffingtonpost.com/2011/01/07/stewart-facebook-goldman-_n_805701.html?ir=Business
If this don't get fixed, itsa nother nail in our coffin.
We countin on y'all up there to put a stop to this casino banking with our money.
Your pal,
Thursday, January 6, 2011
Keith Horn: Time to Get Prosecutorial
Hey Barry
I suppose you know what I am concerned about by now. Well, seems like it takes forever for an idea to percolate through the fog in the main stream media. So, maybe singing the same old song aint so bad.
Here my song today:
The BILLIONAIRES in the person of Keith Horn are tryin to buy our government lock, stock and barrel. They made a big down payment by buying a lot of REPS in the mid-term elections.
As a side note, now I understand why the REPS is sellin out the country. Is not for a game, is for the cash. Jes real simple, the REPS is for sale and they been bought. Shoulda seen it comin, is not a mystery.
It's documented by Peter Stone, Center for Public Integrity, and Michael Isikoff, NBC News at this URL: http://www.msnbc.msn.com/id/40913123/ns/politics
Now you and I, we know xactly what the BILLIONAIRES gonna do with their country - they gonna loot it. They gonna pass lotta laws taking away our future and our financial security so they can buy bigger villas. No more social security or medicare. No more minimum wage or bank regulation. No more health care. No more competition. No more jobs. And, especially, NO MORE DAMN UNIONS. Say bye bye to comfort and hello to misery. Our streets gonna be like streets in the movie 'Book of Eli'.
We can live here long as we keep quiet and work for whatever they feel like payin us. Gonna be jes like Guatemela or any other banana republic - a few real RICH folks who own it all and lotta poor suckers scroungin for a livin.
So Barry, that's what we know. Big question is this: Whatta we gonna do about it?
It's the defining moment of our history, right here and right now.
I don't have the answer, Barry, because it's up to you. It is all up to you. Your time at the plate.
I can tell you a story about how they doin it in Russia. Maybe that will give you an idea or two. We can't do the same, but it is a good approach.
Russia got the same problem we do - few real rich and lotta real poor. Some of their RICH got a little greedy as RICH will do. They tried to buy the government. First they steal assets from the country and then they try to buy the government so they can have bigger villas. Really annoyed the government.
Thas exactly what's happening here Barry. BILLIONAIRES steal assets and now they buyin the country so's they can have bigger villas.
Gibbon and 'The Decline and Fall of the Roman Empire' all over again.
So what did Russia do bout it? Well they 'encouraged' couple of those folks to leave the country, which they did.
But one of them, Mikhail Khodorkovsky, would not give up. So, they put him in jail in England and they just sentenced him to prison for a long time.
See, when some folks get too big for their britches, they gotta be taken down. Cause if they not taken down, they take the country down.
That's where we at right now, Barry. Is time for us to get prosecutorial. Put these guys in their place. Let's put Keith Horn in jail. He so RICH, is guaranteed he done some crimes somewhere, sometime.
We waitin on ya Barry.
Your pal,
I suppose you know what I am concerned about by now. Well, seems like it takes forever for an idea to percolate through the fog in the main stream media. So, maybe singing the same old song aint so bad.
Here my song today:
The BILLIONAIRES in the person of Keith Horn are tryin to buy our government lock, stock and barrel. They made a big down payment by buying a lot of REPS in the mid-term elections.
As a side note, now I understand why the REPS is sellin out the country. Is not for a game, is for the cash. Jes real simple, the REPS is for sale and they been bought. Shoulda seen it comin, is not a mystery.
It's documented by Peter Stone, Center for Public Integrity, and Michael Isikoff, NBC News at this URL: http://www.msnbc.msn.com/id/40913123/ns/politics
Now you and I, we know xactly what the BILLIONAIRES gonna do with their country - they gonna loot it. They gonna pass lotta laws taking away our future and our financial security so they can buy bigger villas. No more social security or medicare. No more minimum wage or bank regulation. No more health care. No more competition. No more jobs. And, especially, NO MORE DAMN UNIONS. Say bye bye to comfort and hello to misery. Our streets gonna be like streets in the movie 'Book of Eli'.
We can live here long as we keep quiet and work for whatever they feel like payin us. Gonna be jes like Guatemela or any other banana republic - a few real RICH folks who own it all and lotta poor suckers scroungin for a livin.
So Barry, that's what we know. Big question is this: Whatta we gonna do about it?
It's the defining moment of our history, right here and right now.
I don't have the answer, Barry, because it's up to you. It is all up to you. Your time at the plate.
I can tell you a story about how they doin it in Russia. Maybe that will give you an idea or two. We can't do the same, but it is a good approach.
Russia got the same problem we do - few real rich and lotta real poor. Some of their RICH got a little greedy as RICH will do. They tried to buy the government. First they steal assets from the country and then they try to buy the government so they can have bigger villas. Really annoyed the government.
Thas exactly what's happening here Barry. BILLIONAIRES steal assets and now they buyin the country so's they can have bigger villas.
Gibbon and 'The Decline and Fall of the Roman Empire' all over again.
So what did Russia do bout it? Well they 'encouraged' couple of those folks to leave the country, which they did.
But one of them, Mikhail Khodorkovsky, would not give up. So, they put him in jail in England and they just sentenced him to prison for a long time.
See, when some folks get too big for their britches, they gotta be taken down. Cause if they not taken down, they take the country down.
That's where we at right now, Barry. Is time for us to get prosecutorial. Put these guys in their place. Let's put Keith Horn in jail. He so RICH, is guaranteed he done some crimes somewhere, sometime.
We waitin on ya Barry.
Your pal,
Wednesday, January 5, 2011
Mike Rogers [R, Mich] - Lovin That Torture
Hey Barry:
Looks like the BILLIONAIRE's lap dogs can't wait to hit and water board some defenseless folks. Mike Rogers, the new chair of the House Intelligence Committee, is drooling already:
Readt it here: http://www.examiner.com/public-safety-in-national/new-congress-brings-new-hope-for-us-national-security
"....Republican Rep. Mike Rogers of Michigan was named chairman the U.S. House intelligence committee beginning today, when the U.S. Congress reconvenes......Rep. Mike Rogers, a decorated FBI agent, has often criticized the Obama administration's interrogation policies for terror suspects as being too restrictive......."
Holy cow. Please make sure he gets the memo: Torture DOES NOT WORK.
I wrote bout this in 2009
June 2009
Hey Barry:
So here's an expert who says that we should talk to the terrorists.
What an idea. You were right all along.
His name is John Arquilla and he works for the Navy.
Read it here:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/02/EDH517TKBD.DTL
Your pal
And, in 2008:
Republicans - Love that Torture
News reports are that all the Reps except McCain support torture - even more than Bush.
Perfect campaign material:
If you like torture vote Republican.
If you like freedom and dignity vote Democrat.
[OK,in case you missed the memo:
Torture hurts American national security:
1.It is illegal under US law
2. It is against American values.
3. Tortured people will say whatever they think the torturer wants to hear to make the pain stop, so the information is false
4. The military may act on false information and waste time and lives
5. It gives our enemies license to torture our troops.]
Your pal
Looks like the BILLIONAIRE's lap dogs can't wait to hit and water board some defenseless folks. Mike Rogers, the new chair of the House Intelligence Committee, is drooling already:
Readt it here: http://www.examiner.com/public-safety-in-national/new-congress-brings-new-hope-for-us-national-security
"....Republican Rep. Mike Rogers of Michigan was named chairman the U.S. House intelligence committee beginning today, when the U.S. Congress reconvenes......Rep. Mike Rogers, a decorated FBI agent, has often criticized the Obama administration's interrogation policies for terror suspects as being too restrictive......."
Holy cow. Please make sure he gets the memo: Torture DOES NOT WORK.
I wrote bout this in 2009
June 2009
Hey Barry:
So here's an expert who says that we should talk to the terrorists.
What an idea. You were right all along.
His name is John Arquilla and he works for the Navy.
Read it here:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/02/EDH517TKBD.DTL
Your pal
And, in 2008:
Republicans - Love that Torture
News reports are that all the Reps except McCain support torture - even more than Bush.
Perfect campaign material:
If you like torture vote Republican.
If you like freedom and dignity vote Democrat.
[OK,in case you missed the memo:
Torture hurts American national security:
1.It is illegal under US law
2. It is against American values.
3. Tortured people will say whatever they think the torturer wants to hear to make the pain stop, so the information is false
4. The military may act on false information and waste time and lives
5. It gives our enemies license to torture our troops.]
Your pal
Tuesday, January 4, 2011
Select Committee on Energy
Hey Barry:
I know you think that energy independence is one of our top national security issues AND that it isn't going anywhere. Energy problems will be with us for a long time.
But, chances are the REPS will just ignore it - after all the BILLIONAIRES don't want anyone messing with their cash cow.
Here's a link to the staff report on the energy committee; some day we will have to pay attention - no one sayin we aren't warned:
http://theenergycollective.com/oshadavidson/49286/challenge-isn-t-going-away-clean-energy-jobs-and-national-security
It's another case where the national interests conflict with BILLIONAIRES' money.
Wanna bet who wins?
Your pal,
I know you think that energy independence is one of our top national security issues AND that it isn't going anywhere. Energy problems will be with us for a long time.
But, chances are the REPS will just ignore it - after all the BILLIONAIRES don't want anyone messing with their cash cow.
Here's a link to the staff report on the energy committee; some day we will have to pay attention - no one sayin we aren't warned:
http://theenergycollective.com/oshadavidson/49286/challenge-isn-t-going-away-clean-energy-jobs-and-national-security
It's another case where the national interests conflict with BILLIONAIRES' money.
Wanna bet who wins?
Your pal,
Monday, January 3, 2011
Lunar Eclipse Video - Gorgeous
Hey Barry:
Here's a link to a video of the lunar eclipse - stunning: http://www.popsci.com/technology/article/2010-12/video-last-nights-lunar-eclipse-time-lapsed
Your pal,
Here's a link to a video of the lunar eclipse - stunning: http://www.popsci.com/technology/article/2010-12/video-last-nights-lunar-eclipse-time-lapsed
Your pal,
Friday, December 31, 2010
Snowy Hell
Hey Barry:
With the New Year coming up quickly, there will be some major issues on your plate. I know this is not news to you, but I want to remind you of the major problem underlying most other issues. Hopefully, you'll keep it in mind as you work.
That problem is the control that RICH people have over our nation's resources. It isn't just that they make a lot of money with that control; that is bad enough. No, it is that they actively deny life, liberty and the pursuit of happiness to the rest of us.
Just in case you think I am over stating, please read this column by David Sirota: 'A snowy glimpse of America's future' at this link: http://www.oregonlive.com/opinion/index.ssf/2010/12/a_snowy_glimpse_of_americas_fu.html
Looks like that's where we are headed Barry.
I'd like it to be different and I know you would too.
So, Barry, please tell us what can WE do to get a different future.
Happy New Year.
Your pal,
With the New Year coming up quickly, there will be some major issues on your plate. I know this is not news to you, but I want to remind you of the major problem underlying most other issues. Hopefully, you'll keep it in mind as you work.
That problem is the control that RICH people have over our nation's resources. It isn't just that they make a lot of money with that control; that is bad enough. No, it is that they actively deny life, liberty and the pursuit of happiness to the rest of us.
Just in case you think I am over stating, please read this column by David Sirota: 'A snowy glimpse of America's future' at this link: http://www.oregonlive.com/opinion/index.ssf/2010/12/a_snowy_glimpse_of_americas_fu.html
Looks like that's where we are headed Barry.
I'd like it to be different and I know you would too.
So, Barry, please tell us what can WE do to get a different future.
Happy New Year.
Your pal,
Saturday, December 25, 2010
Reflections
Hey Barry:
This time of year is a reflection time for me with lots of family and friends gathering. I hope it is the same for you.
So, this is a reflective note about the background for my comments in this space.
I have read about economic theory and current events since 1960 with a focus on the interaction of national government policies and economic growth. In the early 1990's I created a set of 34 national economic policies which affect growth in just about any political structure. Beginning in 1995 I have published student analyses of how well various national government policies promote economic growth. Each study is written under my direction by a native student of the country about which she or he writes.
Clicking on the link above takes you to MIEPA's home page which contains links to each of about 40 country analyses as well as some other studies published there.
LIST OF 34 ECONOMIC POLICIES
The link titled 'INTRODUCTION AND POLICY RECOMMENDATIONS' [http://www.mkeever.com/intro.html] presents a description of all the policies and some background on the site.
INDIVIDUAL COUNTRY STUDIES
Each economic analysis of a country is linked to the country name. For example the study of the USA written in May of 2010 is titled UNITED STATES OF AMERICA [http://www.mkeever.com/usa.html]
Some of the studies were written a few years ago; they remain on the site until another student writes an update. Some students fear for their lives and families and so choose to remain anonymous.
MANUAL ON WRITING COUNTRY ECONOMIC ANALYSIS
Some folks may be interested in exactly how the policy studies are written. This link gives a complete methodology: 'POLICY ANALYST APPLICATION - JOBS GROWTH THEORY' [http://www.mkeever.com/apply.html]
ECONOMIC SYSTEM ALTERNATIVES
I sponsored an essay contest in 2000 for expositions of alternative economic systems. The market based, capitalistic system which is widely used is not the only effective method of organizing economic behavior.
Several very interesting ideas and case studies were submitted and the winning essays are published under the link titled: 'THERE ARE ALTERNATIVES (T.A.A.) PROJECT' [http://www.mkeever.com/taa.html].
BALANCED TRADE
I wrote an essay on an alternative international trade theory titled: 'BALANCED TRADE: TOWARD THE FUTURE OF ECONOMICS' which is published at this link: [http://www.mkeever.com/essay.html]
It is worth considering for the United States. Since publishing that essay, I have provided some limited assistance to Ian Fletcher in his efforts to suggest alternative trade theories as published in 'FREE TRADE DOESN'T WORK: WHAT SHOULD REPLACE IT AND WHY' [www.freetradedoesntwork.com]
MORAL ECONOMICS
Sadly, economic theory does not address the social implications of market actions. Under economic theory, you as a consumer do not know or care who produced the products you use. They may have been produced by unionized workers with health insurance and a pension or they may have been produced by tubercular children working 10 hours per day for starvation wages.
The essay titled 'MORAL ECONOMICS' is an attempt to reconcile economic theory with morality: [http://www.mkeever.com/moral.html]
BANK REGULATIONS
Here's my take on the subject: 'BANK REGULATION IN THE UNITED STATES' February 2009 [www.mkeever.com/bank_regulation_usa.doc]
PREDICTING DISASTERS
Lastly, I am concerned that there appears to be no systematic attempt to predict future economic booms and busts. I made a video about a method to create such a mechanism and the scripts and links are in the site: 'ECONOMICS 2.0, DODGING DISASTERS, PART 1 AND PART 2' [http://www.mkeever.com/dodgingdisasters.html]
Thank you for your attention.
Happy New Year!
Your pal,
This time of year is a reflection time for me with lots of family and friends gathering. I hope it is the same for you.
So, this is a reflective note about the background for my comments in this space.
I have read about economic theory and current events since 1960 with a focus on the interaction of national government policies and economic growth. In the early 1990's I created a set of 34 national economic policies which affect growth in just about any political structure. Beginning in 1995 I have published student analyses of how well various national government policies promote economic growth. Each study is written under my direction by a native student of the country about which she or he writes.
Clicking on the link above takes you to MIEPA's home page which contains links to each of about 40 country analyses as well as some other studies published there.
LIST OF 34 ECONOMIC POLICIES
The link titled 'INTRODUCTION AND POLICY RECOMMENDATIONS' [http://www.mkeever.com/intro.html] presents a description of all the policies and some background on the site.
INDIVIDUAL COUNTRY STUDIES
Each economic analysis of a country is linked to the country name. For example the study of the USA written in May of 2010 is titled UNITED STATES OF AMERICA [http://www.mkeever.com/usa.html]
Some of the studies were written a few years ago; they remain on the site until another student writes an update. Some students fear for their lives and families and so choose to remain anonymous.
MANUAL ON WRITING COUNTRY ECONOMIC ANALYSIS
Some folks may be interested in exactly how the policy studies are written. This link gives a complete methodology: 'POLICY ANALYST APPLICATION - JOBS GROWTH THEORY' [http://www.mkeever.com/apply.html]
ECONOMIC SYSTEM ALTERNATIVES
I sponsored an essay contest in 2000 for expositions of alternative economic systems. The market based, capitalistic system which is widely used is not the only effective method of organizing economic behavior.
Several very interesting ideas and case studies were submitted and the winning essays are published under the link titled: 'THERE ARE ALTERNATIVES (T.A.A.) PROJECT' [http://www.mkeever.com/taa.html].
BALANCED TRADE
I wrote an essay on an alternative international trade theory titled: 'BALANCED TRADE: TOWARD THE FUTURE OF ECONOMICS' which is published at this link: [http://www.mkeever.com/essay.html]
It is worth considering for the United States. Since publishing that essay, I have provided some limited assistance to Ian Fletcher in his efforts to suggest alternative trade theories as published in 'FREE TRADE DOESN'T WORK: WHAT SHOULD REPLACE IT AND WHY' [www.freetradedoesntwork.com]
MORAL ECONOMICS
Sadly, economic theory does not address the social implications of market actions. Under economic theory, you as a consumer do not know or care who produced the products you use. They may have been produced by unionized workers with health insurance and a pension or they may have been produced by tubercular children working 10 hours per day for starvation wages.
The essay titled 'MORAL ECONOMICS' is an attempt to reconcile economic theory with morality: [http://www.mkeever.com/moral.html]
BANK REGULATIONS
Here's my take on the subject: 'BANK REGULATION IN THE UNITED STATES' February 2009 [www.mkeever.com/bank_regulation_usa.doc]
PREDICTING DISASTERS
Lastly, I am concerned that there appears to be no systematic attempt to predict future economic booms and busts. I made a video about a method to create such a mechanism and the scripts and links are in the site: 'ECONOMICS 2.0, DODGING DISASTERS, PART 1 AND PART 2' [http://www.mkeever.com/dodgingdisasters.html]
Thank you for your attention.
Happy New Year!
Your pal,
Friday, December 24, 2010
Super Shopper Obama
Hey Barry:
Sometime ago I asked that you shop for us very carefully with the RICH tax cuts you had to fund.
Is jes a cryin shame that we have to use cash to buy something good for the country from the BILLIONAIRES. Not what the Founding Fathers had in mind. Not by a long shot.
But Barry, you a Super Shopper. Holy cow. You bought a whole lot of very good things for the country. Y'all made the Reps squirm and cut a very good deal for us. Thank you.
There are so many things y'all did that nobody has published a list that I can find. Seriously, the main stream media is just overwhelmed.
Even the kid sponsored web site list [ http://whattheheckhasobamadonesofar.com/?q=29] can't keep up.
Anyways, we all thank you for the good things.
Keep up the good work in January.
Your pal,
Sometime ago I asked that you shop for us very carefully with the RICH tax cuts you had to fund.
Is jes a cryin shame that we have to use cash to buy something good for the country from the BILLIONAIRES. Not what the Founding Fathers had in mind. Not by a long shot.
But Barry, you a Super Shopper. Holy cow. You bought a whole lot of very good things for the country. Y'all made the Reps squirm and cut a very good deal for us. Thank you.
There are so many things y'all did that nobody has published a list that I can find. Seriously, the main stream media is just overwhelmed.
Even the kid sponsored web site list [ http://whattheheckhasobamadonesofar.com/?q=29] can't keep up.
Anyways, we all thank you for the good things.
Keep up the good work in January.
Your pal,
Wednesday, December 22, 2010
Putin Sings Fats
Hey Barry:
Y'all gotta see this - Vladimir Putin singing Blueberry Hill.
http://www.youtube.com/watch?v=IV4IjHz2yIo
The Russians are definitely winnning the courage race.
Merry Christmas.
Your pal,
Y'all gotta see this - Vladimir Putin singing Blueberry Hill.
http://www.youtube.com/watch?v=IV4IjHz2yIo
The Russians are definitely winnning the courage race.
Merry Christmas.
Your pal,
Tuesday, December 21, 2010
New Science: Teleportation May Be Real
Hey Barry:
Seems that Physicists Andrew Cleland and John Martinis from the University of California at Santa Barbara created a gadget that may make 'Beam me up Scotty' a reality someday.
Along with some other exciting new science, you can read it here: http://www.foxnews.com/scitech/2010/12/17/beam-teleportation-years-biggest-breakthrough/
Maybe our grandkids can live in the Star Trek world.
Merry Christmas,
You pal,
PS: The comment below is so interesting, in a tongue-in-cheek way, that I am appending it to the original post:
Cisco2035 has left a new comment on your post "New Science: Teleportation May Be Real":
Possibly some of us may be able to use it by the 2030s.
http://cisco2035.wordpress.com/2010/11/16/facts-about-teleportation/
Seems that Physicists Andrew Cleland and John Martinis from the University of California at Santa Barbara created a gadget that may make 'Beam me up Scotty' a reality someday.
Along with some other exciting new science, you can read it here: http://www.foxnews.com/scitech/2010/12/17/beam-teleportation-years-biggest-breakthrough/
Maybe our grandkids can live in the Star Trek world.
Merry Christmas,
You pal,
PS: The comment below is so interesting, in a tongue-in-cheek way, that I am appending it to the original post:
Cisco2035 has left a new comment on your post "New Science: Teleportation May Be Real":
Possibly some of us may be able to use it by the 2030s.
http://cisco2035.wordpress.com/2010/11/16/facts-about-teleportation/
Monday, December 20, 2010
Bad Man McConnell
Hey Barry:
Let's be clear about this: McConnell is just plain bad for the country.
Cynthia Tucker nails it here: http://blogs.ajc.com/cynthia-tucker/2010/12/20/republicans-unpatriotic-resistance-to-new-start/?cxntfid=blogs_cynthia_tucker
Nothing more to say.
Your pal,
Let's be clear about this: McConnell is just plain bad for the country.
Cynthia Tucker nails it here: http://blogs.ajc.com/cynthia-tucker/2010/12/20/republicans-unpatriotic-resistance-to-new-start/?cxntfid=blogs_cynthia_tucker
Nothing more to say.
Your pal,
Saturday, December 18, 2010
Rough Ridin Estate Tax
Hey Barry:
Sometime the REPS forget where they came from.
Here's what Theodore Roosevelt had to say about big fortunes and the need for an estate tax, as quoted by Tim Rutten in the LA Times: 'Like many thoughtful Americans of his era, he believed the disproportionate accumulation of wealth in the hands of a few would make a mockery of our meritocracy and, ultimately, of our democracy. In 1910, he summed up those feelings.
"We grudge no man a fortune in civil life if it is honorably obtained and well used," Roosevelt said. "It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community.... The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate." '
Your pal,
Sometime the REPS forget where they came from.
Here's what Theodore Roosevelt had to say about big fortunes and the need for an estate tax, as quoted by Tim Rutten in the LA Times: 'Like many thoughtful Americans of his era, he believed the disproportionate accumulation of wealth in the hands of a few would make a mockery of our meritocracy and, ultimately, of our democracy. In 1910, he summed up those feelings.
"We grudge no man a fortune in civil life if it is honorably obtained and well used," Roosevelt said. "It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community.... The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and … a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate." '
Your pal,
Get It While The Gettin's Good
Hey Barry:
Y'all on a roll. That's good.
Get everything you can while you can.
Come January, even blowing your nose will be a battle royal. I'd love to think the Reps will actually put the good of the country ahead of the RICH - but, I'm a pessimist.
Merry Christmas.
Your pal,
Y'all on a roll. That's good.
Get everything you can while you can.
Come January, even blowing your nose will be a battle royal. I'd love to think the Reps will actually put the good of the country ahead of the RICH - but, I'm a pessimist.
Merry Christmas.
Your pal,
Wednesday, December 15, 2010
Carried Interest
Hey Barry:
There is a thing in the tax revisions that did not get changed. It is a killer.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/15/BUSR1GQ3CI.DTL
I'm not talking about the estate tax, which is bad enough.
It is the carried interest provision which lets the super rich treat income as capital gains.
According to columnist Andrew Ross, here's what folks say about it: '"hyperconcentration of rewards at the top" (the top 1 percent and up), and a corresponding "hyperinequality" with the rest of the nation.'
We really need to do something about this one, Barry. We need more income equality and less capital formation - capital fomation is another word for the RICH getting richer. Too much capital fomation and too little wages is a problem for us right now.
Your pal
There is a thing in the tax revisions that did not get changed. It is a killer.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/15/BUSR1GQ3CI.DTL
I'm not talking about the estate tax, which is bad enough.
It is the carried interest provision which lets the super rich treat income as capital gains.
According to columnist Andrew Ross, here's what folks say about it: '"hyperconcentration of rewards at the top" (the top 1 percent and up), and a corresponding "hyperinequality" with the rest of the nation.'
We really need to do something about this one, Barry. We need more income equality and less capital formation - capital fomation is another word for the RICH getting richer. Too much capital fomation and too little wages is a problem for us right now.
Your pal
Sunday, December 12, 2010
Let rich pay to fix deficit, say Americans
Hey Barry:
A new Bloomberg poll has reported that most Americans want the rich to pay more taxes to help with deficit reduction.
Read it here: http://www.dispatch.com/live/content/insight/stories/2010/12/12/let-rich-pay-to-fix-deficit-say-americans.html?sid=101
I don't think there are many mysteries in DC - no secrets about economics. We all get it.
Your pal,
A new Bloomberg poll has reported that most Americans want the rich to pay more taxes to help with deficit reduction.
Read it here: http://www.dispatch.com/live/content/insight/stories/2010/12/12/let-rich-pay-to-fix-deficit-say-americans.html?sid=101
I don't think there are many mysteries in DC - no secrets about economics. We all get it.
Your pal,
Saturday, December 11, 2010
Richard Holbrooke: R I P
Hey Barry:
Sadly, Richard Holbrooke passed yesterday.
May he rest in peace secure in the knowledge of his contribution to peace and saving lives.
He will be very hard to replace.
Your pal,
Sadly, Richard Holbrooke passed yesterday.
May he rest in peace secure in the knowledge of his contribution to peace and saving lives.
He will be very hard to replace.
Your pal,
Thursday, December 9, 2010
The WashBeltBox
Hey Barry:
We love you and we need you. You're the only one we have and we are not going to let you go.
Yes I know we can be a pain sometimes, but you have heard the saying: "You only hurt the ones you love." Well, that's us.
So, here's the thing. You are locked in some struggle with the BILLIONAIRE's lap dog known as the Reps.
But Barry, that struggle is taking place inside a paper box - I'll call it the WashBeltBox - that is sinking into a very deep tidal pool.
What we want Barry, is for you to break out of that box and kill the SOB who is holding the box under water. Here's an idea about how to do it: raise the income tax to a 90% marginal rate on taxable incomes over $1 million and the estate tax to 100% on any estate over $100 million.
We know it's a job for Superman and that you ain't Superman, but like I said, you are all we got.
We are hurting and we are afraid that we will drown inside the WashBeltBox unless you break out and save us.
It is not about what you can pry from the Reps, it's about saving our country from drowning.
Your pal,
We love you and we need you. You're the only one we have and we are not going to let you go.
Yes I know we can be a pain sometimes, but you have heard the saying: "You only hurt the ones you love." Well, that's us.
So, here's the thing. You are locked in some struggle with the BILLIONAIRE's lap dog known as the Reps.
But Barry, that struggle is taking place inside a paper box - I'll call it the WashBeltBox - that is sinking into a very deep tidal pool.
What we want Barry, is for you to break out of that box and kill the SOB who is holding the box under water. Here's an idea about how to do it: raise the income tax to a 90% marginal rate on taxable incomes over $1 million and the estate tax to 100% on any estate over $100 million.
We know it's a job for Superman and that you ain't Superman, but like I said, you are all we got.
We are hurting and we are afraid that we will drown inside the WashBeltBox unless you break out and save us.
It is not about what you can pry from the Reps, it's about saving our country from drowning.
Your pal,
Sunday, December 5, 2010
BILLIONAIRES: Open Letter
Hey Barry:
Here's an open letter to our BILLIONAIRES; please read ahead.
DEAR BILLIONAIRE:
I am writing you because you are very RICH.
To see whether you are RICH, click on this link.http://www.forbes.com/lists/2010/10/billionaires-2010_The-Worlds-Billionaires_Rank.html
If your name shows up anywhere on the Forbes web site or your net worth exceeds One Billion Dollars, you are RICH. You are not RICH if you are worth less than One Billion Dollars.
Your money gives a special place in the world, a place that is different from just about everyone else. You probably don't even notice how different you are because you don't have much contact with people who work for a living. Most of the people you see are either just like you or people who make a living by telling you how wonderful you are. It is no surprise that you have a different world view than most people.
There are some issues that arise from your wealth. These issues are not about your intelligence, looks or personality; they are about your impact on us. They exist for every RICH person regardless of personal circumstances.
As a background to my comments, my family history includes several Presidents and goes back to the early 1600's in this country. Of course, it also includes some undesirable folks as well, just like any family. If you'd like some details, I will put you in touch with my cousin Bev who keeps track of all that.
So, I will put on my Uncle Sam Yankee Doodle Dandy Top Hat and I will try to speak to you as the voice of the soul of America.
Our country was founded in a Revolution against tyranny and aristocracy. It was an attempt to allow average people a good life, including material comforts as well as freedom from control by powerful people.
Now, I am pretty sure you think that you embody the best characteristics of that revolution. After all, you gained your wealth by following the rules. And, you achieved the American dream of doing well in a free country.
But, you are dead wrong if you think that. Here's why you are wrong:
Your extreme wealth gives you the ability to change the rules to your benefit. You do not play fair by the nature of your ability to change the rules. And, it seems that most of the rules changes you support serve to make you even richer. You have the means to hire very good people to help you gain influence. Perhaps you even make political contributions and have the ear of Senators and Representatives. That alone makes you special.
Surely you can see where this is going, but just in case you do not, here it is: As a RICH person, you are PERSONALLY AND DIRECTLY RESPONSIBLE FOR THE ILLS OF THE UNITED STATES OF AMERICA. Most of the ills anyway, not all of them, but most.
You have the means and influence to change our country for the better or the worse. And you have used those means to make our situation worse while making your fortune bigger.
Over the past 50 years or so, you have systematically dismantled most of the rules and regulations that protect average working Americans from economic misfortune.
You have taken our livelihood and self respect. Now you are trying to take away the dreams of our grandchildren by borrowing to give you a tax reduction.
The United States of America is like a big, welcoming and forgiving family. We extend forgiveness as much as we can. But, that forgiveness has limits.
When we are pushed too far, we react by withdrawing our support. Eventually, we create rules to prevent bad behavior. When someone breaks the rules, we punish them.
Now it comes that you as the RICH among us have gone too far. You have broken the rules and we will punish you.
As the people who make the things we need to live life, you poison us with your products, you foul the air we breathe and the water we drink. You steal from us. You take away our financial security. You borrow from our grandchildren to pay for your sailboats and villas. Your employees work diligently to corrupt our political system so we cannot get a fair shake. You act like a bad wife and treat us like a wallet. You take our money and scold us when we do not give you more. You show no respect for our country while our sons and daughters, sisters and brothers die to protect our country.
We are tired of you and we are ashamed of you.
You are the bad relatives we shun.
We will be happier if you leave our country, you are not welcome here.
Here's how Andrew Carnegie puts it: 'The man who dies rich dies disgraced.'
You are disgraced.
Here's an open letter to our BILLIONAIRES; please read ahead.
DEAR BILLIONAIRE:
I am writing you because you are very RICH.
To see whether you are RICH, click on this link.http://www.forbes.com/lists/2010/10/billionaires-2010_The-Worlds-Billionaires_Rank.html
If your name shows up anywhere on the Forbes web site or your net worth exceeds One Billion Dollars, you are RICH. You are not RICH if you are worth less than One Billion Dollars.
Your money gives a special place in the world, a place that is different from just about everyone else. You probably don't even notice how different you are because you don't have much contact with people who work for a living. Most of the people you see are either just like you or people who make a living by telling you how wonderful you are. It is no surprise that you have a different world view than most people.
There are some issues that arise from your wealth. These issues are not about your intelligence, looks or personality; they are about your impact on us. They exist for every RICH person regardless of personal circumstances.
As a background to my comments, my family history includes several Presidents and goes back to the early 1600's in this country. Of course, it also includes some undesirable folks as well, just like any family. If you'd like some details, I will put you in touch with my cousin Bev who keeps track of all that.
So, I will put on my Uncle Sam Yankee Doodle Dandy Top Hat and I will try to speak to you as the voice of the soul of America.
Our country was founded in a Revolution against tyranny and aristocracy. It was an attempt to allow average people a good life, including material comforts as well as freedom from control by powerful people.
Now, I am pretty sure you think that you embody the best characteristics of that revolution. After all, you gained your wealth by following the rules. And, you achieved the American dream of doing well in a free country.
But, you are dead wrong if you think that. Here's why you are wrong:
Your extreme wealth gives you the ability to change the rules to your benefit. You do not play fair by the nature of your ability to change the rules. And, it seems that most of the rules changes you support serve to make you even richer. You have the means to hire very good people to help you gain influence. Perhaps you even make political contributions and have the ear of Senators and Representatives. That alone makes you special.
Surely you can see where this is going, but just in case you do not, here it is: As a RICH person, you are PERSONALLY AND DIRECTLY RESPONSIBLE FOR THE ILLS OF THE UNITED STATES OF AMERICA. Most of the ills anyway, not all of them, but most.
You have the means and influence to change our country for the better or the worse. And you have used those means to make our situation worse while making your fortune bigger.
Over the past 50 years or so, you have systematically dismantled most of the rules and regulations that protect average working Americans from economic misfortune.
You have taken our livelihood and self respect. Now you are trying to take away the dreams of our grandchildren by borrowing to give you a tax reduction.
The United States of America is like a big, welcoming and forgiving family. We extend forgiveness as much as we can. But, that forgiveness has limits.
When we are pushed too far, we react by withdrawing our support. Eventually, we create rules to prevent bad behavior. When someone breaks the rules, we punish them.
Now it comes that you as the RICH among us have gone too far. You have broken the rules and we will punish you.
As the people who make the things we need to live life, you poison us with your products, you foul the air we breathe and the water we drink. You steal from us. You take away our financial security. You borrow from our grandchildren to pay for your sailboats and villas. Your employees work diligently to corrupt our political system so we cannot get a fair shake. You act like a bad wife and treat us like a wallet. You take our money and scold us when we do not give you more. You show no respect for our country while our sons and daughters, sisters and brothers die to protect our country.
We are tired of you and we are ashamed of you.
You are the bad relatives we shun.
We will be happier if you leave our country, you are not welcome here.
Here's how Andrew Carnegie puts it: 'The man who dies rich dies disgraced.'
You are disgraced.
Saturday, December 4, 2010
Wonderful: Warren Workin Wonders
Hey Barry:
I am really happy that Elizabeth Warren is on the job. Your appointment of her is one of your best moves so far, ranking up there with health insurance and financial reform.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/03/MNPF1GL4FR.DTL&type=politics
One of her first moves is to coordinate the States' Attorneys General actions in enforcing consumer protections regulation in financial matters.
The next step will be giving her some real authority, but huzzahs for the first step.
Your pal,
I am really happy that Elizabeth Warren is on the job. Your appointment of her is one of your best moves so far, ranking up there with health insurance and financial reform.
Read it here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/03/MNPF1GL4FR.DTL&type=politics
One of her first moves is to coordinate the States' Attorneys General actions in enforcing consumer protections regulation in financial matters.
The next step will be giving her some real authority, but huzzahs for the first step.
Your pal,
Friday, December 3, 2010
Big Chill in China
Hey Barry:
Some folks are sayin that China's economy is heading for the tank and that we will follow.
Read it here: http://www.zerohedge.com/article/why-chinas-leading-indicators-are-big-flashing-warning-light-albert-edwards-tripple-dip-head?
There are even graphs - they look kinda like a roller-coaster.
What a time to be the President - the Reps is throwin a tantrum style hissy fit and the world's economy is looking for the toilet.
Stay steady Barry, don't panic on us. Y'all doing the right things.
Your pal,
Some folks are sayin that China's economy is heading for the tank and that we will follow.
Read it here: http://www.zerohedge.com/article/why-chinas-leading-indicators-are-big-flashing-warning-light-albert-edwards-tripple-dip-head?
There are even graphs - they look kinda like a roller-coaster.
What a time to be the President - the Reps is throwin a tantrum style hissy fit and the world's economy is looking for the toilet.
Stay steady Barry, don't panic on us. Y'all doing the right things.
Your pal,
Schakowsky's Budget Plan
Hey Barry:
Rep Jan Schakowsky D-IL wrote a budget plan that saves Social Security and stabilizes the middle class.
Y'all can read it here: http://schakowsky.house.gov/images/stories/1202_Schakowsky_Deficit_Reduction_Plan.pdf
Here's what it proves Barry: fixing the budget problem is not accounting or rocket science, it is politics.
Specifically, it is the politics of RICH taking too much and giving back nothing.
We need you here Barry, don't let the Reps sell out the country for a ribbon from the BILLIONAIRES.
Positively depressing.
Your pal,
Rep Jan Schakowsky D-IL wrote a budget plan that saves Social Security and stabilizes the middle class.
Y'all can read it here: http://schakowsky.house.gov/images/stories/1202_Schakowsky_Deficit_Reduction_Plan.pdf
Here's what it proves Barry: fixing the budget problem is not accounting or rocket science, it is politics.
Specifically, it is the politics of RICH taking too much and giving back nothing.
We need you here Barry, don't let the Reps sell out the country for a ribbon from the BILLIONAIRES.
Positively depressing.
Your pal,
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