The pork laden American Recovery and Reinvestment Act of 2009 (H.R. 1) should be considered a disgrace by the public and the administration. According to the Government Accounting Office and the Office of Management and Budget only twelve cents of every dollar in the package would actually go towards any type of economic stimulus. In other words a full 88% of the $819 Billion is pure pork! I hope that everyone can see the full agenda of the 111th congress of the United States here. Its very first bill is designed to take this country as far to the left as possible.
As an example, two farcical areas that are given an inordinate amount of money and attention in it are for so called "green initiatives". Investments in green technologies for who else but government workers. That's right, $600 Million is allocated for purchasing green automobiles for government workers to use, even thought the fuel infrastructure is virtually nonexistent in most areas. And even though a recent symposium of 650 of the brightest scientific minds have concluded that global warming is a myth, it allocates $400 Million for climate change research.
But the part that causes me the most concern is how they try to begin the nationalization of the health care system through the back door. $2.7 Billion is given to the National Institutes of Health for human experimentation of embryonic stem cell therapies, which to date have not produced one single cure for diseases. Interestingly, not one penny is allocated towards research or testing of adult stem cells which have produced results.
Why do they insist on fixing the wrong thing? What is wrong is the health insurance industry, not health care. The quality of health care in the United States is the best in the world. Health care is expensive no matter where you are so the best way to combat rising costs is to combat insurance fraud, abuse, and waste. If big government gets into deciding who gets what level of health care do you honestly believe that people will be better off than they are now? As a person who has chronic health issues, I know full well how expensive treatment can be. But I have found that the consumer of health care is their own best advocate. Being well informed about your health, substituting generic drugs when possible, having a close relationship with your doctors, and paying close attention to your body and any symptoms, are the keys to getting high quality health care.
Having access to health care is not dependent upon having good insurance, or having insurance at all. Public hospitals that are not for profit are mandated by law to care for those who are admitted via emergency regardless of there ability to pay for treatment. So our laws already provide for accessibility to quality health care. No, what desperately needs fixing is not health care, it isn't the cost of health care, it is the health insurance industry.
The leftist agenda of the 111th congress is not addressing the real issues that confront our nation. What we need to do is stop Queen Nasty Pelosi and Prince Harry Reid before they run our nation into the ground. This bill is not economic stimulus, it is porkulus (as Rush Limbaugh calls it).
Thursday, January 29, 2009
Monday, January 26, 2009
Whiplash
Well, today Rush Limbaugh proposed a plan to resuscitate our ailing economy on his radio program that has broad appeal for both of the polarized political camps. It actually made a lot of sense to me. Although I covered that topic with greater detail in my recent post on January 24, 2009 which included specific examples of how to go about it, Rush's was a generality, but I liked the way that he presented it.
I am beginning to come to the view our new administration with more and more disdain with each passing day. Rush stated that Obama was running fast to the left as predicted. But it seems to me that Obama has donned a "jet-pack" and is flying there past all forms of reason. Let's see if I get this right; first we give billions to the automotive industry after publicly skewering the CEOs. Then today he publicly muses about granting 13 states waivers from EPA standards so that they can set their own standards. This would cost the industry a lot more to comply with a patchwork of standards than they were given earlier this month! So we give them money to stay afloat, then sabotage them with more intrusive regulations.
And how about the Gitmo edict. Giving the order to close Gitmo in a year before having a clue as to what to do with the prisoners. Appointing and ramming through confirmation hearings Timothy Geitner as the new Secretary of the Treasury even though he "forgot" to pay several thousands of dollars of his own personal taxes over a three year period!
It would appear to me that the liberal democrats are completely inebriated with their new found power. It is obvious that they do not know what they are doing.
Hold on to your hats and your wallets, it's going to be a wild ride to right this economy. The twists and turns we'll take long the way will include compromising our principles, abandoning ethics, and outright lawlessness (witness the whole Blagojevich fiasco).
Then there's the issue of corporate greed and vanity that was exemplified by the revelations this week about former Merrill Lynch CEO John Thain who blew over a million dollars redecorating his office and doling out massive bonuses to top brass (including himself, of course) before he was shown the door by Bank of America after BofA bought up Merrill Lynch. Of course Thain did all of this as they were being acquired by BofA and he did it with taxpayer money. Unbelievable; the unmitigated gall that Thain has. What a monumental ass.
I am beginning to come to the view our new administration with more and more disdain with each passing day. Rush stated that Obama was running fast to the left as predicted. But it seems to me that Obama has donned a "jet-pack" and is flying there past all forms of reason. Let's see if I get this right; first we give billions to the automotive industry after publicly skewering the CEOs. Then today he publicly muses about granting 13 states waivers from EPA standards so that they can set their own standards. This would cost the industry a lot more to comply with a patchwork of standards than they were given earlier this month! So we give them money to stay afloat, then sabotage them with more intrusive regulations.
And how about the Gitmo edict. Giving the order to close Gitmo in a year before having a clue as to what to do with the prisoners. Appointing and ramming through confirmation hearings Timothy Geitner as the new Secretary of the Treasury even though he "forgot" to pay several thousands of dollars of his own personal taxes over a three year period!
It would appear to me that the liberal democrats are completely inebriated with their new found power. It is obvious that they do not know what they are doing.
Hold on to your hats and your wallets, it's going to be a wild ride to right this economy. The twists and turns we'll take long the way will include compromising our principles, abandoning ethics, and outright lawlessness (witness the whole Blagojevich fiasco).
Then there's the issue of corporate greed and vanity that was exemplified by the revelations this week about former Merrill Lynch CEO John Thain who blew over a million dollars redecorating his office and doling out massive bonuses to top brass (including himself, of course) before he was shown the door by Bank of America after BofA bought up Merrill Lynch. Of course Thain did all of this as they were being acquired by BofA and he did it with taxpayer money. Unbelievable; the unmitigated gall that Thain has. What a monumental ass.
Saturday, January 24, 2009
Why It Will Get Worse, Not Better.
The newest round of public money bound to be given to banks has stipulations attached that would require that the banks loan it out to consumers. The problem with that is that it will worsen the situation by creating more bad assets. How you might ask? Well, because banks will once again be forced to make loans to people who cannot afford them. Or are they going to legislate that consumers that can afford to repay loans be forced to borrow the money as well? could it be possible that our leaders are really just that stupid? The people who could afford to repay new loans do not want or need them now. They are savvy in uncertain times, tightening budgets instead of increasing them. Why would any sane person want to borrow now and increase their debt?
Government first needs to repeal the bad legislation that forced the banks to make bad loans in the first place. Secondly, remove the bad assets from the market. Thirdly, stimulate the economy. And it needs to be done in that order to gain any traction against the rising tide of bad economic news.
FDR's policies lengthened and worsened the pain of the Great Depression (recovery from it) precisely because of the same reasons mentioned above. FDR's polices were not effective then and will not be effective now either.
Government first needs to repeal the bad legislation that forced the banks to make bad loans in the first place. Secondly, remove the bad assets from the market. Thirdly, stimulate the economy. And it needs to be done in that order to gain any traction against the rising tide of bad economic news.
FDR's policies lengthened and worsened the pain of the Great Depression (recovery from it) precisely because of the same reasons mentioned above. FDR's polices were not effective then and will not be effective now either.
Free Market Economics and Capitalism
Since the free market system is driven by consumerism, the worst situation that can occur is for consumers to lose confidence. There are several ways that they can lose confidence. Fear that they will lose their job is a major one. Fear that they will not be able to find gainful employment if they do lose their job is another. That our government can't seem to address the appropriate problem doesn't help either. And then seeing our government throw taxpayer money away again and again and again to no avail adds a deeper level of despair. Make no mistake, this is not an economic or financial crisis that we are in, it is a crisis of confidence. It isn't just our economy that is flailing, our government is swatting blindly and hoping to hit a home run.
The government has reacted way to slowly to a problem that they played a significant part in creating. Since they have waited far too long to address the problem, they must do much more to fix it. There are five key areas that they must address and they are:
The government has reacted way to slowly to a problem that they played a significant part in creating. Since they have waited far too long to address the problem, they must do much more to fix it. There are five key areas that they must address and they are:
- Bolster public confidence in the Free Market System.
- Stabilize the Financial Markets.
- Stabilize the Housing Market.
- Improve oversight, regulation, and transparency of markets.
- Stimulate economic growth.
I will list some concrete ideas for each of these 5 key areas next. First to bolster public confidence in the Free Market System of Capitalism we can:
- Overhaul the IRS (streamline it and simplify the tax code).
- Eliminate the Death Tax.
- Eliminate the Alternative Minimum Tax.
- Eliminate the Capital Gains Tax.
- Close overseas tax loopholes for big business.
- Lower tax rates for everybody.
- Spend on infrastructure improvements.
To stabilize the financial markets we could:
- Establish an entity like the Resolution Trust Corporation to buy up all the toxic assets and hold them to maturity so that banks and corporations can remove them from their books and get a fresh start.
- Institute a complete ban on all credit based derivatives (as this totally unregulated market segment has fueled the corporate greed fire for the past two decades).
- Overhaul the Financial Accounting Standards Board (FASB).
To stabilize the housing market:
- Repeal the Community Reinvestment Act.
- Eliminate the Death Tax.
- Eliminate the Capital Gains Tax.
- Reduce the Estate Tax.
- Toughen the training and licensing requirements for mortgage loan originators and brokers.
- Eliminate Fannie Mae and Freddie Mac.
- Stop nationalizing banks.
To improve oversight, regulation and transparency of markets.
- Overhaul the Financial Accounting Standards Board (FASB).
- Strengthen the Securities and Exchange Commission (SEC) by increasing funding, manpower, and scope of authority.
- Increase transparency at the SEC.
To spur economic growth:
- Institute permanent and substantial tax breaks for business.
- Give business refundable tax credits that are retroactive for all of 2008.
- Eliminate the Capital Gains Tax.
- Eliminate Inventory Taxes on businesses.
- Eliminate the Sarbanes Oxley Act (regards accounting standards for business)
- Increase funding for the Small Business Administration (SBA).
You will notice that a few of the same suggestions appear in different categories, that is because there is a little bit of overlap between these areas as they are so closely related to each other. Noticeably absent is any idea of simply tossing money at business with no strings attached, which is instead the first action that our government took.
It is all about confidence folks, and we have such a long, long way to go yet. Finally to address the immediate federal budgetary shortfalls, we could institute a temporary consumption tax. A federal sales tax no more than 2.25% and phase it out over 10 years.
Friday, January 23, 2009
Our Fair Share
I took the time and did a little research on the Internet and found a map of gasoline and diesel taxes per state for the United States. The figures given for each state are an average for each state and include all local, state, and federal taxes. The figures given are in cents per gallon. The state of California leads the way at 67.1, then Massachusetts at 65.6, Illinois at 64.4, then New York at 60.7, then it is a tie between Indiana and Michigan at 59.4, Washington state at 55.9, Florida 51.6, Wisconsin at 51.3, Utah and Hawaii are also tied at 51, West Virginia at 50.6, North Carolina at 48.6, Maine at 48.3, Georgia at 46.5, and Ohio at 46.4.
Of course Alaska has the lowest at just 18.4 cents per gallon. All other states are between 32.4 and 48.4 cents per gallon.
Since I live and work in Michigan and I have family in Ohio I did some calculations and this is what I have discovered. Based on these taxes, driving my vehicle (assuming 16 mile per gallon average for all mile driven) for 32,000 mile driven per year I purchase 2000 gallons of gas per year, which translates into $1,188.00 taxes for road maintenance. I also figured the same miles per gallon for my Ohio relatives but they drive less miles (15,000 per year). That translates into 937.5 gallons of fuel consumed per year for a total tax of $435.
What exactly is our state and federal governments doing with all of this money. for just two people out of 200 million vehicles in our country that extrapolates to a lot of cash! This is in addition to all income, sales and property taxes. Where the heck is it all going?
Our geniuses in congress can't seem to grasp the idea that they can not have it both ways. They crater under pressure from environmental groups and introduce legislation that encourages less energy consumption. The very same energy consumption is a great source of revenue for them, so now that the legislation has had the desired effect of reducing consumption, they are scrambling to replace the lost revenue stream. They want to raise taxes again. But now they have to disguise any new taxes because voters are getting tax fatigue. Voters like you and I are wary of any new taxes. Now they are seriously tossing around the idea of raising revenue by any means. And how convenient to use the whole "green movement" and craft a "cap and trade" carbon tax for businesses. As if our businesses need to pay more tax.
The gross incompetence in our government is astounding. They are already taxing businesses into oblivion. Businesses are closing up shop, or leaving the country and taking good paying jobs with them, and these idiots want to actually increase the tax burden on business.
Here's a clue Congress; spend less, not more. Stop rescuing Wall Street and Banks. Let them fail. Save Jobs by bailing out manufacturers, and giving them tax breaks.
Obama's plan for $500 for individuals and $1,000 for couples is the smaller than the one Bush gave everyone, and it will have the same effect; NONE! People will use it to pay down debt, or save it because they are worried about losing their job next.
Of course Alaska has the lowest at just 18.4 cents per gallon. All other states are between 32.4 and 48.4 cents per gallon.
Since I live and work in Michigan and I have family in Ohio I did some calculations and this is what I have discovered. Based on these taxes, driving my vehicle (assuming 16 mile per gallon average for all mile driven) for 32,000 mile driven per year I purchase 2000 gallons of gas per year, which translates into $1,188.00 taxes for road maintenance. I also figured the same miles per gallon for my Ohio relatives but they drive less miles (15,000 per year). That translates into 937.5 gallons of fuel consumed per year for a total tax of $435.
What exactly is our state and federal governments doing with all of this money. for just two people out of 200 million vehicles in our country that extrapolates to a lot of cash! This is in addition to all income, sales and property taxes. Where the heck is it all going?
Our geniuses in congress can't seem to grasp the idea that they can not have it both ways. They crater under pressure from environmental groups and introduce legislation that encourages less energy consumption. The very same energy consumption is a great source of revenue for them, so now that the legislation has had the desired effect of reducing consumption, they are scrambling to replace the lost revenue stream. They want to raise taxes again. But now they have to disguise any new taxes because voters are getting tax fatigue. Voters like you and I are wary of any new taxes. Now they are seriously tossing around the idea of raising revenue by any means. And how convenient to use the whole "green movement" and craft a "cap and trade" carbon tax for businesses. As if our businesses need to pay more tax.
The gross incompetence in our government is astounding. They are already taxing businesses into oblivion. Businesses are closing up shop, or leaving the country and taking good paying jobs with them, and these idiots want to actually increase the tax burden on business.
Here's a clue Congress; spend less, not more. Stop rescuing Wall Street and Banks. Let them fail. Save Jobs by bailing out manufacturers, and giving them tax breaks.
Obama's plan for $500 for individuals and $1,000 for couples is the smaller than the one Bush gave everyone, and it will have the same effect; NONE! People will use it to pay down debt, or save it because they are worried about losing their job next.
Thursday, January 22, 2009
Enviroleftism and The Green Truth
There is an email circulating cyberspace that has the environmentalists up in arms. It warns of the Obama administration's plans to convert our public forests into green energy sources like bio fuels, solar and wind farms. Let's be real here; the denuding of all public forests to produce cellulosic bio fuels will never happen. there are way too many lawyers in this country. They will clog the courts with suits for years against such folly.
Tribal lands will not be used as wind farms either. They are sovereign countries within our borders and as such would require a treaty for such use. No new treaties have been signed by native tribes in the United States since 1845. They are not going to start now. Besides, the tribes would own the land and the natural resources which means that they would demand just compensation for any energy produced on top of actual production costs. Which means it would not be an economically viable source of energy.
The sad truth about green energy is that there is no green energy. All energy harvesting, whether conventional or "green" requires energy, resources, and manpower. Since man was created to date, the sources of energy that yield the highest return for the least investment are conventional. God purposed it this way and he did so for a reason; so we could use it! Plain and simple.
So do not buy the hype. Spend your resources on things you really need instead! Remember that Al Gore jets all around the world in his own private jet, lives in a huge energy guzzling mansion, and has consumed just as much fattening foods as the rest of the general population (he really has packed on the pounds since his failed attempt at the Presidency, or hasn't anyone else noticed?). He is a huge inconvenient hypocrite; that is the truth. He was washed up as a politician, so he tried making money to support his lavish lifestyle as a filmmaker. He is an energy beast not the green energy Baron.
Don't buy the hype, buy gasoline instead. Gasoline refined from crude oil. This whole green movement is designed to get you to be less mobile. Which, by the way, our mobility is the single most distinguishing factor of our country. No other country in the world before or since has had a population that was as mobile as ours. It is our greatest strength. Our mobility is what makes our military the most powerful in the world. Our mobility is what makes our economy the largest and most powerful one in the world. Our mobility is why the United States dollar is the worlds' currency. Why is it then that the environmentalists on the far left want to limit our mobility by denying continued cheap access to refined natural petrochemical energy? They are un-American, non patriots.
My wife and I both drive professionally. It is how we make a living. We also drive for personal reasons. We do not have the money to spend on newer vehicles that are electric or hybrids, or run on other "green fuels". Why limit ourselves to just one source? We should use alternatives to supplement conventional energy sources, not replace them.
I drive over 32 thousand miles per year on my personal vehicle, in addition to all the miles that I drive professionally. I make no apologies for it either. I pay for all of my personal vehicle's fuel, and it serves me well. I make money driving, I get enjoyment from driving, I visit who I want, wherever I want, whenever I want. I help supply the road maintenance fund for the federal and state governments. I do my part. I am so tired of hearing about the debate over which bio fuels to use to replace oil. We will never replace oil. The petrochemical age was started in Saudi Arabia (by some Texans) back at the turn of the 19th Century and we are in the thick of it still. There is plenty of oil in the ground yet. We will not run out of it because God put it there for us to exploit and utilize! Plain and simple. Keep pumping it, refining it and I will continue to burn it without excuse.
Tribal lands will not be used as wind farms either. They are sovereign countries within our borders and as such would require a treaty for such use. No new treaties have been signed by native tribes in the United States since 1845. They are not going to start now. Besides, the tribes would own the land and the natural resources which means that they would demand just compensation for any energy produced on top of actual production costs. Which means it would not be an economically viable source of energy.
The sad truth about green energy is that there is no green energy. All energy harvesting, whether conventional or "green" requires energy, resources, and manpower. Since man was created to date, the sources of energy that yield the highest return for the least investment are conventional. God purposed it this way and he did so for a reason; so we could use it! Plain and simple.
So do not buy the hype. Spend your resources on things you really need instead! Remember that Al Gore jets all around the world in his own private jet, lives in a huge energy guzzling mansion, and has consumed just as much fattening foods as the rest of the general population (he really has packed on the pounds since his failed attempt at the Presidency, or hasn't anyone else noticed?). He is a huge inconvenient hypocrite; that is the truth. He was washed up as a politician, so he tried making money to support his lavish lifestyle as a filmmaker. He is an energy beast not the green energy Baron.
Don't buy the hype, buy gasoline instead. Gasoline refined from crude oil. This whole green movement is designed to get you to be less mobile. Which, by the way, our mobility is the single most distinguishing factor of our country. No other country in the world before or since has had a population that was as mobile as ours. It is our greatest strength. Our mobility is what makes our military the most powerful in the world. Our mobility is what makes our economy the largest and most powerful one in the world. Our mobility is why the United States dollar is the worlds' currency. Why is it then that the environmentalists on the far left want to limit our mobility by denying continued cheap access to refined natural petrochemical energy? They are un-American, non patriots.
My wife and I both drive professionally. It is how we make a living. We also drive for personal reasons. We do not have the money to spend on newer vehicles that are electric or hybrids, or run on other "green fuels". Why limit ourselves to just one source? We should use alternatives to supplement conventional energy sources, not replace them.
I drive over 32 thousand miles per year on my personal vehicle, in addition to all the miles that I drive professionally. I make no apologies for it either. I pay for all of my personal vehicle's fuel, and it serves me well. I make money driving, I get enjoyment from driving, I visit who I want, wherever I want, whenever I want. I help supply the road maintenance fund for the federal and state governments. I do my part. I am so tired of hearing about the debate over which bio fuels to use to replace oil. We will never replace oil. The petrochemical age was started in Saudi Arabia (by some Texans) back at the turn of the 19th Century and we are in the thick of it still. There is plenty of oil in the ground yet. We will not run out of it because God put it there for us to exploit and utilize! Plain and simple. Keep pumping it, refining it and I will continue to burn it without excuse.
Race Relations
If ever there were two words in the English language that when appearing together were the epitome of an oxymoron, "race relations" are it. Aren't we all humans? We all belong to the same race after all; the human one. To say that we have a problem with "race relations" is the same as saying that we have a problem relating to each other as people isn't it? Perhaps Rodney King did ask the right question after all, "Can't we all just get along?"
As far as the Obamaphoria goes, I find it sappy at best and a little sickening at worst. He is a man. He puts his pants on one leg at a time, just like you or I do. His pants don't know or care what color his skin is and neither should we. In the grand scheme of things it is largely unimportant. What is important is what he does, not who he is, or what he thinks, feels, or says (even if he is a great orator).
Do we really know the racial makeup of the other 43 Presidents? They all appeared to be Caucasian, but what is "white"? Our ancestors were European, so many have multicultural family histories. They were from England, France, Germany, Ireland, Spain. When they arrived here they took as wives from the natives who lived here. We are a "melting pot", a hodge-podge, a quilt work society as it were, and we have been that way from the beginning. Why is it then that over 200 years later, that some continually lord it over the rest about the sad state of "race relations"?
People still have bills to pay like mortgages, auto loans, medical bills, and legal bills. How is Obama's race going to help people with that? People need good paying jobs. Our economy is hemorrhaging jobs at the astonishing rate of almost 3 million per year and yet people are positively giddy about having elected a "black man" as President. How is that going to reverse the trend; I don't understand it. It will be what he does that counts.
The time for talking is over. Now is the time for doing. Let's pray that he does it right and does it quickly. Let's also pray that we can start relating to each other with dignity and respect, as if we all belong to the same human race. Let's pray that we can put the stigma of the term "race relations" behind us and press onward and upward towards bigger and better things.
As far as the Obamaphoria goes, I find it sappy at best and a little sickening at worst. He is a man. He puts his pants on one leg at a time, just like you or I do. His pants don't know or care what color his skin is and neither should we. In the grand scheme of things it is largely unimportant. What is important is what he does, not who he is, or what he thinks, feels, or says (even if he is a great orator).
Do we really know the racial makeup of the other 43 Presidents? They all appeared to be Caucasian, but what is "white"? Our ancestors were European, so many have multicultural family histories. They were from England, France, Germany, Ireland, Spain. When they arrived here they took as wives from the natives who lived here. We are a "melting pot", a hodge-podge, a quilt work society as it were, and we have been that way from the beginning. Why is it then that over 200 years later, that some continually lord it over the rest about the sad state of "race relations"?
People still have bills to pay like mortgages, auto loans, medical bills, and legal bills. How is Obama's race going to help people with that? People need good paying jobs. Our economy is hemorrhaging jobs at the astonishing rate of almost 3 million per year and yet people are positively giddy about having elected a "black man" as President. How is that going to reverse the trend; I don't understand it. It will be what he does that counts.
The time for talking is over. Now is the time for doing. Let's pray that he does it right and does it quickly. Let's also pray that we can start relating to each other with dignity and respect, as if we all belong to the same human race. Let's pray that we can put the stigma of the term "race relations" behind us and press onward and upward towards bigger and better things.
Tuesday, January 20, 2009
Coronation Day
As history is being made today in Washington D.C. with the inauguration of the 44th President of the United States, the mainstream media is falling all over itself to cover every single second of the day with all things Obama. Yes they keep wondering aloud if this will be the return of Camelot to the White House. How could it be? This is not the Kenedy family. No, this is the era of Obamalot, of audacious hope and the buzzword of the new mellenia; change.
Well, I certainly hope that they are right even if the media's blatant fawning is rather repulsive to experience. The Obama's will have the limelight today and rightfully so, but the economy will still be in shambles, our enemies will still plot against us, and people will still be worried about losing their jobs. Hope is a great thing to have, but the more hope we have for this new administration, the farther they will have to fall if they don't get it right. Maybe we shouldn't set them up for failure by placing them up on such a high pedestal.
Yes, history is being made. But at the end of the day, Barack must set all memories of the home planet of Krypton aside and roll up his sleeves and get to work here on Earth. He is not Superman after all, he is just the 44th President of the United States. He will make mistakes, (he has publicly warned us of this) so I hope that we will not be too busy teaching his story (History) before the ink has dried on the page. Let's give the man some time in office before we judge him too harshly. I hope that his brand of hope and change is exactly what we need. I pray to God that it is, because frankly, I do not know just how much more bad news our country can stand to take. We need to start gaining some traction against the tide of dour news.
Yes, let the coronation begin. Let the festivities be gay. Let's all be witnesses to history. But lets not ruminate on the event for too long lest we forget that real work needs to get done here. The real work of audacious hope and change.
Well, I certainly hope that they are right even if the media's blatant fawning is rather repulsive to experience. The Obama's will have the limelight today and rightfully so, but the economy will still be in shambles, our enemies will still plot against us, and people will still be worried about losing their jobs. Hope is a great thing to have, but the more hope we have for this new administration, the farther they will have to fall if they don't get it right. Maybe we shouldn't set them up for failure by placing them up on such a high pedestal.
Yes, history is being made. But at the end of the day, Barack must set all memories of the home planet of Krypton aside and roll up his sleeves and get to work here on Earth. He is not Superman after all, he is just the 44th President of the United States. He will make mistakes, (he has publicly warned us of this) so I hope that we will not be too busy teaching his story (History) before the ink has dried on the page. Let's give the man some time in office before we judge him too harshly. I hope that his brand of hope and change is exactly what we need. I pray to God that it is, because frankly, I do not know just how much more bad news our country can stand to take. We need to start gaining some traction against the tide of dour news.
Yes, let the coronation begin. Let the festivities be gay. Let's all be witnesses to history. But lets not ruminate on the event for too long lest we forget that real work needs to get done here. The real work of audacious hope and change.
Monday, January 19, 2009
Fuel Pump Folly
Our local Fox news channel just reported on why it is that even though oil prices are falling, gas prices at the pump are rising. People are mad about it and rightfully so, the United States is awash in so much crude oil that they don't have places to store it. There are supertankers stacked up in the ports and demand is still lower than this time last year because of the poor economy and job losses.
So the real reason we are paying more at the pump is because as the economy sank further into the abyss during the fourth quarter of 2008, Corn prices collapsed. Ethanol made from corn is mandated in all seasonal gasoline fuel blends by our illustrious government. Our government has tried to sell the idea on the free market that ethanol from corn would help wean our nation off of foreign oil. They incentivized corn based ethanol production, and "created" an artificial market for it. It is an artificial market because they can not create demand, so they have subsidized production instead.
It is not as efficient as a fuel for the internal combustion engine because it has a much lower energy density (it takes more of it to generate the same power). It is an end run around the free market system. No one actually wants "cornahol" for a fuel or a fuel additive (it has consistently cost more at the pump than gasoline, since oil has tumbled). And accordingly, a few of the major manufacturers of corn based ethanol went bankrupt and got out of the business. So now there is a shortage of the mandated ethanol for gasoline fuel blends. So once again our own government has proved right the theory of "unintended consequences" by hurting those who can least afford it; the poor and middle class. As prices of food and everything else is continuing to rise steadily, so does gasoline even though it really should not be. Experts say that we should be paying around $1.50 per gallon right now.
Another area that they did not touch on but still angers the heck out of me is the "splash and dash" subsidy scandal, where gasoline refined in other countries is blended with ehtanol in tankers at United States ports, and the outbound tankers then qualify for a huge United States government subsidy even though the they are going to foreign markets for sale. Yet another way that our government is giving our tax dollars away to foreigners who mostly despise us. Way to go Congress.
So the real reason we are paying more at the pump is because as the economy sank further into the abyss during the fourth quarter of 2008, Corn prices collapsed. Ethanol made from corn is mandated in all seasonal gasoline fuel blends by our illustrious government. Our government has tried to sell the idea on the free market that ethanol from corn would help wean our nation off of foreign oil. They incentivized corn based ethanol production, and "created" an artificial market for it. It is an artificial market because they can not create demand, so they have subsidized production instead.
It is not as efficient as a fuel for the internal combustion engine because it has a much lower energy density (it takes more of it to generate the same power). It is an end run around the free market system. No one actually wants "cornahol" for a fuel or a fuel additive (it has consistently cost more at the pump than gasoline, since oil has tumbled). And accordingly, a few of the major manufacturers of corn based ethanol went bankrupt and got out of the business. So now there is a shortage of the mandated ethanol for gasoline fuel blends. So once again our own government has proved right the theory of "unintended consequences" by hurting those who can least afford it; the poor and middle class. As prices of food and everything else is continuing to rise steadily, so does gasoline even though it really should not be. Experts say that we should be paying around $1.50 per gallon right now.
Another area that they did not touch on but still angers the heck out of me is the "splash and dash" subsidy scandal, where gasoline refined in other countries is blended with ehtanol in tankers at United States ports, and the outbound tankers then qualify for a huge United States government subsidy even though the they are going to foreign markets for sale. Yet another way that our government is giving our tax dollars away to foreigners who mostly despise us. Way to go Congress.
Sunday, January 18, 2009
How much more will we have to endure?
The list of offenses against the public trust is a long one and continues to grow seemingly unchecked years after becoming a matter of public consumption. Just to name a few, we have; the savings and loan debaucle and Whitewater, Enron, Global Crossing, giving lots of taxpayer money to several airlines immediately after 9/11 with no public comment or safeguards. Getmo, Abu-Graeb, And then comes Treasury Secretary Henry Paulson (aka Colonel Clink) screaming that the sky will fall upon all of our heads if we don't abandon the free market system and nationalize Wall Street, most banks, and now a host of other industries with more money than they can reasonably borrow from foreign countries that have collected a stockpile of our dollars over the years.
So they are cranking up the presses at treasury. The problem with this is that when the logjam of credit finally breaks (as it eventually will) and there is all this cheap money in circulation we will face hyperinflation like we haven't seen before. And the Fed will have to raise interest rates to try to combat it.
The United States needs to get serious about holding those who are responsible for these transgressions to account for it.
And let's not forget about good old Bernie Madoff, a classic sociopath swindler who even bilked his own sister out of millions of dollars (what a low-life scum). He should be charged with the murder of that mutual fund manager who took his own life because of the losses he suffered by the heinous acts of Madoff. Perhaps what outrages me the most is the fact that Madoff is still out on bond living in his penthouse before his trial. Is that judge a human being or some kind of alien from another planet? What the heck was he thinking, "not a flight risk" yeah right. Madoff is an absconder who cannot be trusted; he should be in a cell awaiting his fate.
And where is Chris Cox the SEC chairman, in all of this Madoff madness (and the two other fund managers from Florida who have absconded with millions since)? We haven't heard a peep out of Cox. The congress should be grilling Cox (over open coals). They should have Cox's head on the chopping block as these words are being typed and read by others. Where is accountability, integrity, public trust, common sense? is there not a modicum of any of these pertinent traits left in our elected public servants? Is everyone really only out for themselves anymore? For once, can we please even consider that the interests of others might just be more important than our own? Are we really just that greedy?
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