Thursday, May 28, 2009
Trying out twitter because more and more people who are worth following are on it. I will see if I like it or not.
Scary Thought
As much as President Obama is frightening, let's hope for his good health. Why you ask, well because his number two is a bumbling fool, who just speaks whatever comes into his head, might as well call him Mr Gaffe, he has had foot in mouth disease so long, that the expression is, Oh well that's Joe. And if Joe's health fails, we have the ever lovable, Pinocchio Pelosi, the queen of the San Francisco queens. Oh well have to go now before I spoil my lunch.
Thursday, May 21, 2009
Runaway freight train
It seems the good people of California have had enough, in 1991 their state budget wass 51 billion, now the latest proposed by Schwarzenegger is $144 billion. That is almost triple in just 18 years, making the rate of expansion around 190% in only 18 yrs. Compare that to the federal government which spent 1.32 trillion in 1991, which is less than just the projected deficit of 1.8 trillion dollars this year for US taxpayers burden. That means since this fiscal year starting October budget is 3.6 trillion that spending has increased about 180% in only 19 years, that is about 8% increase per year, which oh by the way is almost as ludicrous an increase as California.
Many people have tried to pooh pooh the tea bag demonstrations against bloated government spending at the federal level. Well what started as a spark setting off a brush fire could build into a fire storm, as more people become educated about the sheer size of California's and federal budget deficits. They are such large numbers that at first they are mind numbing, but once you start breaking down the household share of that debt , all of a sudden it gets closer to home.
In 2000, federal debt was about $16,500 per person, not counting unfunded Social Security and Medicare obligations which would add another $13,000 per person as of this year. By September 2008, fed debt per peson had climbed to $33,000 per person, not counting medicare and pension obligations. By the end of September 2009, fed debt per person will be $42,000 per person. Projections by the Congressional Budget Office are at the current rate of proposed spending, at only 63 billion per year additional that Obama set aside in budgeting for healthcare, that in 10 years will be $75,000 not counting unfunded obligations. That is $300,000 per household of 4, compared to $66,000 per household in the year 2000.
Does anyone think that this level of spending at the state and federal level is sustainable without bankruptcy? More and more people will soon start expecting a higher interest rate for state bonds and US Treasury bills to take this level of risk. In other words Congress is creating a bubble of spending that is no more sustainable than the housing bubble was. This time the deadbeats are our Congresspeople. They are subprime borrowers. Worse yet they print more money if they cannot borrow fast enough, which makes the dollar less valuable, which creates inflation that will eat away the value of your salary, the amount of good that a dollar of federal spending can do for anyone. Consumers have tightened up, they are starting to save, economize and act fiscally responsible, thank goodness. It is time to demand that Congress do the same, that is what the voters of California trying to send a message by defeating these ballot measures to raise taxes. That is the same message that those who attend the tea parties are trying to send. DO NOT BANKRUPT US, SO THAT THERE IS MONEY LEFT TO SPEND FOR OUR CHILDREN AND GRANDCHILDREN. DO NOT SPEND IT ALL NOW. DO NOT SQUANDER THEIR INHERITANCE.
Many people have tried to pooh pooh the tea bag demonstrations against bloated government spending at the federal level. Well what started as a spark setting off a brush fire could build into a fire storm, as more people become educated about the sheer size of California's and federal budget deficits. They are such large numbers that at first they are mind numbing, but once you start breaking down the household share of that debt , all of a sudden it gets closer to home.
In 2000, federal debt was about $16,500 per person, not counting unfunded Social Security and Medicare obligations which would add another $13,000 per person as of this year. By September 2008, fed debt per peson had climbed to $33,000 per person, not counting medicare and pension obligations. By the end of September 2009, fed debt per person will be $42,000 per person. Projections by the Congressional Budget Office are at the current rate of proposed spending, at only 63 billion per year additional that Obama set aside in budgeting for healthcare, that in 10 years will be $75,000 not counting unfunded obligations. That is $300,000 per household of 4, compared to $66,000 per household in the year 2000.
Does anyone think that this level of spending at the state and federal level is sustainable without bankruptcy? More and more people will soon start expecting a higher interest rate for state bonds and US Treasury bills to take this level of risk. In other words Congress is creating a bubble of spending that is no more sustainable than the housing bubble was. This time the deadbeats are our Congresspeople. They are subprime borrowers. Worse yet they print more money if they cannot borrow fast enough, which makes the dollar less valuable, which creates inflation that will eat away the value of your salary, the amount of good that a dollar of federal spending can do for anyone. Consumers have tightened up, they are starting to save, economize and act fiscally responsible, thank goodness. It is time to demand that Congress do the same, that is what the voters of California trying to send a message by defeating these ballot measures to raise taxes. That is the same message that those who attend the tea parties are trying to send. DO NOT BANKRUPT US, SO THAT THERE IS MONEY LEFT TO SPEND FOR OUR CHILDREN AND GRANDCHILDREN. DO NOT SPEND IT ALL NOW. DO NOT SQUANDER THEIR INHERITANCE.
Sunday, May 17, 2009
When you hear people lie
When you hear a person over and over again say one thing and do another, it becoms quite obvious that they are lying. When you say you want to reduce the number of abortions but you won't vote for a single restriction even to save the life of a baby that survives abortion, then you know they are lying. When they say they want fiscal responsibility and they increase the annual deficit to $1.8 trillion, again an obvious lie. How many lies will the American people take before they rise up and say enough, have some principles, we may not agree with you , but tell the truth, stand up for what you beleive in, stop trying to deceive us. I can respect someone who disagrees with me, when they don't lie. I however, have absolutely no respect for anyone even if we do agree if they try to make their case by lying. Pure and simple, the devil is the author of all lies, everytime you lie, you are doing the devil's bidding, whose greatest lie is that he does not exist.
So speak the truth, you may not always find agreement, but never stayu quiet because you fear being unpopular, or in the minority. Your principles may not always be right. We should as Lincoln said pray not that God is on our side, but that we are on His side. Do not hide your light under a bushel basket, let it shine. You are called to be the salt of the earth, if you do not flavor society, then you have become like salt that has lost its flavor, and therefore good only to be thrown down and trampled on.
So speak the truth, you may not always find agreement, but never stayu quiet because you fear being unpopular, or in the minority. Your principles may not always be right. We should as Lincoln said pray not that God is on our side, but that we are on His side. Do not hide your light under a bushel basket, let it shine. You are called to be the salt of the earth, if you do not flavor society, then you have become like salt that has lost its flavor, and therefore good only to be thrown down and trampled on.
Saturday, May 16, 2009
Nancy Pinocchio?
Does Nancy Pelosi seriously beleive that when she cannot say what she remembers without having to refer to her notes, that the media will not sense blood in the water and the shark feeding frenzy they normally reserve for Republicans will begin. Let's face it scandals drive television journalism, just like they do most daily newspapers and most of the rest of TV.
Does she seriously beleive she can tell a lie about one of the premier intelligence gathering agencies in the world and they will not defend their honor? Wow, even Leon Panetta won't take this lying down. Nancy Pelosi will soon be such a liability to the Democratic party that she will be encouraged behind closed doors to step down. There will not be a vote on a resolution to remove her privilege as Speaker of the House as Gingrich suggested, that is way too public. No, the pressure will occur behind closed doors. So if she steps down, remember you read it here first.
Does she seriously beleive she can tell a lie about one of the premier intelligence gathering agencies in the world and they will not defend their honor? Wow, even Leon Panetta won't take this lying down. Nancy Pelosi will soon be such a liability to the Democratic party that she will be encouraged behind closed doors to step down. There will not be a vote on a resolution to remove her privilege as Speaker of the House as Gingrich suggested, that is way too public. No, the pressure will occur behind closed doors. So if she steps down, remember you read it here first.
Are There any Catholic Universities left?
When the leader of Notre Dame decides to confer an honorary law degree on a President who has done everything in his power to be as pro-abortion as possible in both word and deeds, who has not done anything to reduce abortions, who when campaigning for the Democratic nomination told the crowd that they should choose him because after all he has done more for reproductive rights than any other candidates, what is the average Catholic to think? Notre Dame is not alone in conferring honors on pro abortion people, simply the most visible because the honor is being conferred on our President. Sacred Heart University honored pro-abortion activist Kerry Kennedy. Xavier University commencement honored pro-abortion political activist Donna Brazile. University of San Francisco honored pro-abortion district attorney and Proposition 8 opponent, Kamala Harris. Catholicism is not a democracy and no matter how many "Catholic" universities honor those who promote abortion, the Fifth Commandment bars killing. Like Ghandi said "Sometimes the truth is a minority of one". The official Catholic position is not articulate by the president of Notre Dame or the President of the United States it is by the Pope in the Vatican. It is heresy to say that you can honor politicians who promote intrinsic evils such as abortion which by their very nature are automatically evil. No amount of sophistry, no matter how many theologians thinking they know how many angels dance on the head of a pin, will change the intrinsic evil of abortion ever. This is why people like Alan Keyes and Terry Randall showed up knowing they may be arrested, to publicize that what the President of Notre Dame has done by honoring President Obama this way is not in keeping with Catholic theology or American Catholic culture as previously expressed by Catholic institutions, who are proving to be unfortunately more and more only Catholic in name rather than philosophy or theology. President Obama is not instrinsically evil as everyone can take an immoral stance from time to time, but when they do we must speak out and chastise them by appealing to their conscience, not honor them with an honorary law degree.
Monday, May 11, 2009
How much regulation is too much
Finally some tea parties. Finally some people who don't usually take to the streets are fed up. Finally some people who are upset about the amount of debt being piled up that won't be paid off in their lifetime, let alone their children and maybe their grandchildren's lifetimes.
How many trillions have to be spent before the madness of it all sinks in. How many 787 billion dollar packages hafe to be passed without being read, before it is acknowledged as insanity.
The Fededral Reserve is working at cross purposes right now, they have increased the amount of debt they are incurring weekly so much that the price of Treasuries is going down, sending the yield up. So why does that matter? Well banks peg mortgage rates to the yield on 10 year treasuries, so if the yield goes up, the mortgage rate goes up. So while the Federal Reserve would like mortgage rates to stay down to jumpstart the economy, printing a trillion dollars out of thin air like they did a few weeks ago, works in the opposite direction sending mortgage rates up. Why, well because when you simply print money rather than borrowing it, the dollar becomes worth less, needing a higher interest on mortgages to stay ahead of the inflation caused by pumping so much fiat money into the economy.
Was a stimnulus package necessary, probably not. Let's just for the sake of speculation, assume a package of some size was necessary, why the rush to pass the bill so much so that there was no time to read it. And yet when it was passed on a Friday it was not signed by the President until a special signing ceremony in Denver on Tuesday. Let's see it could still have been signed on Tuesday after having been read on the weekend and passed on Monday.
Oh but that's the point, all of that pork may have not been approved by Congress, there may have been some debate, the size of the stimulus package may have been reduced. And of course the ultimate reason for the rush, to get it into the hands of the state governments before the economy could start to recover. Let's see now the stimulus money is just starting to be spent, Wall Street has climbed significantly since March 9 and shows much more potential to grow again. Historically, the market grows about six months before the recession ends which would be about September, about the time that much of the stimulus package really starts to be spent.
So coincidentally it will look as if the stimulus package is the reason for the recovery, NOT!!
So if the economy was going to recover anyway and now we have plowed trillions into it to juice it up, that means it will be artificially stimulated, so when stimulus dollars wear off, it will be like a bad hangover, hyperinflation will set in, real wages after inflation will actually go down. Unemployment will climb again and voila, stagflation as in late 70's will come roaring back. How many times do we need to learn that more debt does not solve the problem of having taken on too much debt already!!
Why don't I have more faith in Timothy Geitner, former head of the New York Federal Reserve, because it was on his watch that the economy was overstimulated with too easy credit to begin with. It was he and his cronies in the banking industry and Wall Street that overinflated the money supply and caused the bubble in housing!! So we need a bubble in the Federal Government and massive interest on the national debt(a permanent solution) to a temporary problem(housing bubble). The last time extraordinary measures were taken was the Federaal Reserve creation as a result of the 1907 panic when JP Morgan sat bankers down together are pretty much ordered them to rescue Wall Street, beginning to sound familiar, only difference is now it is government rather than Morgan doing the directing. As Seneca, the famous Roman senator said, "Those who fail to understand history, are doomed to repeat it."
How many trillions have to be spent before the madness of it all sinks in. How many 787 billion dollar packages hafe to be passed without being read, before it is acknowledged as insanity.
The Fededral Reserve is working at cross purposes right now, they have increased the amount of debt they are incurring weekly so much that the price of Treasuries is going down, sending the yield up. So why does that matter? Well banks peg mortgage rates to the yield on 10 year treasuries, so if the yield goes up, the mortgage rate goes up. So while the Federal Reserve would like mortgage rates to stay down to jumpstart the economy, printing a trillion dollars out of thin air like they did a few weeks ago, works in the opposite direction sending mortgage rates up. Why, well because when you simply print money rather than borrowing it, the dollar becomes worth less, needing a higher interest on mortgages to stay ahead of the inflation caused by pumping so much fiat money into the economy.
Was a stimnulus package necessary, probably not. Let's just for the sake of speculation, assume a package of some size was necessary, why the rush to pass the bill so much so that there was no time to read it. And yet when it was passed on a Friday it was not signed by the President until a special signing ceremony in Denver on Tuesday. Let's see it could still have been signed on Tuesday after having been read on the weekend and passed on Monday.
Oh but that's the point, all of that pork may have not been approved by Congress, there may have been some debate, the size of the stimulus package may have been reduced. And of course the ultimate reason for the rush, to get it into the hands of the state governments before the economy could start to recover. Let's see now the stimulus money is just starting to be spent, Wall Street has climbed significantly since March 9 and shows much more potential to grow again. Historically, the market grows about six months before the recession ends which would be about September, about the time that much of the stimulus package really starts to be spent.
So coincidentally it will look as if the stimulus package is the reason for the recovery, NOT!!
So if the economy was going to recover anyway and now we have plowed trillions into it to juice it up, that means it will be artificially stimulated, so when stimulus dollars wear off, it will be like a bad hangover, hyperinflation will set in, real wages after inflation will actually go down. Unemployment will climb again and voila, stagflation as in late 70's will come roaring back. How many times do we need to learn that more debt does not solve the problem of having taken on too much debt already!!
Why don't I have more faith in Timothy Geitner, former head of the New York Federal Reserve, because it was on his watch that the economy was overstimulated with too easy credit to begin with. It was he and his cronies in the banking industry and Wall Street that overinflated the money supply and caused the bubble in housing!! So we need a bubble in the Federal Government and massive interest on the national debt(a permanent solution) to a temporary problem(housing bubble). The last time extraordinary measures were taken was the Federaal Reserve creation as a result of the 1907 panic when JP Morgan sat bankers down together are pretty much ordered them to rescue Wall Street, beginning to sound familiar, only difference is now it is government rather than Morgan doing the directing. As Seneca, the famous Roman senator said, "Those who fail to understand history, are doomed to repeat it."
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