Thursday, September 29, 2011
Peace - September 29
My mind devours me. Thankfully today it is full . Being able to exist in life's mundanity, that means doing necessary but boring things, is a welcomed relief. Therefore, I will leave this question for another day: Which is more heavenly, to engage in the repetition of life's tasks or to check out of life, if that were possible, and live in a mind full of dreams?
Tuesday, September 27, 2011
America's Infrastructure
America's physical infrastructure would look good with a facelift just as a dated home would be better after a renovation, except that renters or homeowners cannot even think about upgrading when they are in debt, but a broke United States can, and even move forward with it.
The rationale is safety. An example is the collapse of a bridge in Minneapolis that killed 13 people, but that was due to a design flaw, not its age. See http://www.popularmechanics.com/science/4245065
If money is going to be spent anyway regardless of the deficit, why not set aside those funds for rebuilding and use them after the next natural disaster? I forgot. There is something like that already called Social Security. It got robbed. Therefore, it is probably wise to overhaul the political infrastructure ahead of the physical one.
The rationale is safety. An example is the collapse of a bridge in Minneapolis that killed 13 people, but that was due to a design flaw, not its age. See http://www.popularmechanics.com/science/4245065
If money is going to be spent anyway regardless of the deficit, why not set aside those funds for rebuilding and use them after the next natural disaster? I forgot. There is something like that already called Social Security. It got robbed. Therefore, it is probably wise to overhaul the political infrastructure ahead of the physical one.
Monday, September 26, 2011
Obama Fundraising in the Bay Area 2011
"Sept. 26--President Barack Obama collected $3.5 million to $5.5 million at back-to-back fundraisers Sunday evening in Silicon Valley's toniest cities, on the eve of a town hall meeting on his American Jobs Act plan at the business networking site LinkedIn (LNKD).
"This is the president's second visit to the Bay Area in six months, and his sixth visit since taking office. He's here to take advantage of the generous fundraising support he receives: Contributors from the area's three major cities coughed up $35.5 million for his 2008 campaign, and at least about $2.2 million for his re-election as of June 30." See http://seekingalpha.com/news-article/1907714-obama-visit-to-the-bay-area-nets-millions
Even assuming that Obama raised $5.5 million this past weekend, the total contribution from the most progressive and one of the wealthiest regions in the country comes to $7.7 million so far, about 5 times less than his first presidential campaign bid. Although it is possible that he can make it up in the upcoming year (one), month (one) and change (puns intended) before the election on November 7, 2012, his advisers ought to be concerned when their goal is $1 billion as reported in the Daily Mail Reporter on April 5th, 2011. Someone thought then that it could be achieved: "'It's definitely within reach, as he raised three quarters of a billion last time,' said Michael Malbin, executive director of the non-partisan Campaign Finance Institute." See http://www.dailymail.co.uk/news/article-1373178/Barack-Obama-launches-2012-election-bid-1bn-campaign.html
To be clear, 1 billion is 1,000 millions or 1,000,000,000. $7.7 million is 0.77% of a billion dollars. Therefore regions outside of the Bay Area would have to come up with 99.23% of a billion or 992 million 300 thousand dollars to help Obama realize his billion dollar dream. He could dream that Warren Buffet who is worth about $50 billion these days, who does not mind paying taxes and whose secretary is in a higher tax bracket than he would just write a check, an even billion to make it simple, to close the gap. It is 2% of his net worth. The estate tax is a whole lot higher. Besides, the remainder $49 billion is still good money. By putting it in a 30-year US Treasury bond, yielding 2.99 percent today, a year's interest on the $49 billion will come to 1 billion 465 million 100 thousand dollars ($1,465,100,000). So not to worry, Mr. Buffet would not be poor for long.
The Buffet check is not going to be in the mail. It is illegal. There is a maximum a person can contribute to a federal candidate (see http://www.fec.gov/pages/brochures/citizens.shtml). What Obama is getting is a dose of his own medicine, watching the hands that feed him becoming a little less willing, in order to save up for the taxes they would have to pay under his proposals. His best hope for a second term is having an idiot of a candidate run against him.
"This is the president's second visit to the Bay Area in six months, and his sixth visit since taking office. He's here to take advantage of the generous fundraising support he receives: Contributors from the area's three major cities coughed up $35.5 million for his 2008 campaign, and at least about $2.2 million for his re-election as of June 30." See http://seekingalpha.com/news-article/1907714-obama-visit-to-the-bay-area-nets-millions
Even assuming that Obama raised $5.5 million this past weekend, the total contribution from the most progressive and one of the wealthiest regions in the country comes to $7.7 million so far, about 5 times less than his first presidential campaign bid. Although it is possible that he can make it up in the upcoming year (one), month (one) and change (puns intended) before the election on November 7, 2012, his advisers ought to be concerned when their goal is $1 billion as reported in the Daily Mail Reporter on April 5th, 2011. Someone thought then that it could be achieved: "'It's definitely within reach, as he raised three quarters of a billion last time,' said Michael Malbin, executive director of the non-partisan Campaign Finance Institute." See http://www.dailymail.co.uk/news/article-1373178/Barack-Obama-launches-2012-election-bid-1bn-campaign.html
To be clear, 1 billion is 1,000 millions or 1,000,000,000. $7.7 million is 0.77% of a billion dollars. Therefore regions outside of the Bay Area would have to come up with 99.23% of a billion or 992 million 300 thousand dollars to help Obama realize his billion dollar dream. He could dream that Warren Buffet who is worth about $50 billion these days, who does not mind paying taxes and whose secretary is in a higher tax bracket than he would just write a check, an even billion to make it simple, to close the gap. It is 2% of his net worth. The estate tax is a whole lot higher. Besides, the remainder $49 billion is still good money. By putting it in a 30-year US Treasury bond, yielding 2.99 percent today, a year's interest on the $49 billion will come to 1 billion 465 million 100 thousand dollars ($1,465,100,000). So not to worry, Mr. Buffet would not be poor for long.
The Buffet check is not going to be in the mail. It is illegal. There is a maximum a person can contribute to a federal candidate (see http://www.fec.gov/pages/brochures/citizens.shtml). What Obama is getting is a dose of his own medicine, watching the hands that feed him becoming a little less willing, in order to save up for the taxes they would have to pay under his proposals. His best hope for a second term is having an idiot of a candidate run against him.
Saturday, September 24, 2011
Moneyball
This must be acting at its best. Completely natural, with no hint of awkwardness, Brad Pitt took on Billy Beane's character as if it were his own. Comfortable in his own skin and notwithstanding the fact that he has lost a tad of his boyish prettiness to age, a very mature 47 year-old Brad Pitt exuded confidence as the general manager of the Oakland A's. He had come to terms with who he was, his station in life and what he wanted out of it without pretentiousness.
Brad Pitt gave an Oscar-winning performance, even though I do not believe that an Oscar is a credible measure of performance since many of the statuettes that were handed out over the years tend to favor members of a particular group, some of whom whose talents were average at best and lacking at worst. Brad Pitt is not part of that group. For that reason, whether Brad Pitt wins an Oscar for his role as Billy Beane in Moneyball is not important just as money was not important to Billy Beane when he rejected a $12,500,000 offer by the Boston Red Sox to become the highest paid general manager in baseball in 2002.
Brad Pitt gave an Oscar-winning performance, even though I do not believe that an Oscar is a credible measure of performance since many of the statuettes that were handed out over the years tend to favor members of a particular group, some of whom whose talents were average at best and lacking at worst. Brad Pitt is not part of that group. For that reason, whether Brad Pitt wins an Oscar for his role as Billy Beane in Moneyball is not important just as money was not important to Billy Beane when he rejected a $12,500,000 offer by the Boston Red Sox to become the highest paid general manager in baseball in 2002.
Thursday, September 22, 2011
Options Available for the Socialists in America
One option is to let the pendulum swing violently to the extreme left. Then everyone is poorer because no one is likely to want to work when they can get the same benefits as those who do not care to work.
Another is to encourage the socialist politicians and their fans to move to North Korea. There they will not be stressed out by the capitalists around them, and they will breathe better, live longer and be happier.
Another is to encourage the socialist politicians and their fans to move to North Korea. There they will not be stressed out by the capitalists around them, and they will breathe better, live longer and be happier.
Question for the Socialists In America
If no one works because there is no incentive to work, will socialist-minded politicians stop providing security for the country and welfare for the poor and unemployed?
My answer: Probably not since they need security themselves and want food for their jobless friends and relatives.
My answer: Probably not since they need security themselves and want food for their jobless friends and relatives.
Tuesday, September 20, 2011
Too Soon For A PC Requiem
Eight calender quarters have passed since the article "The Death of the PC" dated December 28, 2009, showed up at Forbes.com (see http://www.forbes.com/forbes/2009/1228/technology-virtualization-vmware-wyse.html).
I do not think the PC will go away. It will simply be more expensive relative to cloud computing for many of the same reasons as driving your car with customized options costs more than taking a bus.
Will cloud computing have a market share? Absolutely. A big one, especially in the developing world. It may even be subsidized by governments without freedom of speech to observe and control its people and by governments with freedom of speech to observe and control terrorism.
I do not think the PC will go away. It will simply be more expensive relative to cloud computing for many of the same reasons as driving your car with customized options costs more than taking a bus.
Will cloud computing have a market share? Absolutely. A big one, especially in the developing world. It may even be subsidized by governments without freedom of speech to observe and control its people and by governments with freedom of speech to observe and control terrorism.
A Lesson In Writing
Oddly enough, my most memorable lesson in writing I had learned from physics teacher. That was decades ago when I was still in high school. Fr. Eugene said to write well, I had to write every day.
Every day? What was I supposed to write? Of course I did not do what he asked. It was not possible. I had nothing to write about.
Decades later, Fr. Eugene's one sentence writing lesson is being taken to heart. I finally understand what he meant. He was right. To write well, I have to write, and write and write. Writing does not come easy for me, these paragraphs included. If it did, I might find it boring very quickly, but I will never know.
Fr. Eugene Lauer, O.S.B, had the curiosity of a child and the patience of a seasoned fisherman. He was the best teacher I have ever had even though I really never learned physics, and still hate the subject.
Thank you for all the special lessons and the infinite patience you had given me, Fr. Eugene. Hope to join you in heaven one day. Pray for me.
Every day? What was I supposed to write? Of course I did not do what he asked. It was not possible. I had nothing to write about.
Decades later, Fr. Eugene's one sentence writing lesson is being taken to heart. I finally understand what he meant. He was right. To write well, I have to write, and write and write. Writing does not come easy for me, these paragraphs included. If it did, I might find it boring very quickly, but I will never know.
Fr. Eugene Lauer, O.S.B, had the curiosity of a child and the patience of a seasoned fisherman. He was the best teacher I have ever had even though I really never learned physics, and still hate the subject.
Thank you for all the special lessons and the infinite patience you had given me, Fr. Eugene. Hope to join you in heaven one day. Pray for me.
Saturday, September 17, 2011
Writing Frees Me
I am lost in a space with volume but without shape and lose track of time but not consciousness of a timeless existence. I no longer feel an obligation to conform to cultural traditions or societal expectations, or walk in lockstep with life’s clock. When writing, I am entirely free to create whatever that happens to be in my thoughts.
These days, more thoughts go through my head than I have time to capture and examine them and put them into words. There have been times when nothing comes to mind, and the periods between inspirations have ranged from days to years.
I wish I could abandon the confines of my life and the ways I am expected to live it, and ensconce myself somewhere to be enveloped by the grand expanse of nature and kissed by its beauty.
And so I dream. In this space it is possible, from this timeless moment to an endless time.
These days, more thoughts go through my head than I have time to capture and examine them and put them into words. There have been times when nothing comes to mind, and the periods between inspirations have ranged from days to years.
I wish I could abandon the confines of my life and the ways I am expected to live it, and ensconce myself somewhere to be enveloped by the grand expanse of nature and kissed by its beauty.
And so I dream. In this space it is possible, from this timeless moment to an endless time.
A Happy Moment of Realization – September 17, 2011
It happened earlier this evening. I was finally able to accept fully that I do have a passion in life, a passion to write. Knowing that I do not have to die without a passion has diminished two of my death’s fears, the purposelessness and uselessness of my existence. It was a happy moment.
No event contributed to or reinforced this realization. No award, no compliment or no delusion that I was talented. The satisfaction came because I had received permission to own my passion, a gift from God, one for me to work on continually so that I can bring it home more polished than when it was given, to show what was gifted was not given in vain.
No event contributed to or reinforced this realization. No award, no compliment or no delusion that I was talented. The satisfaction came because I had received permission to own my passion, a gift from God, one for me to work on continually so that I can bring it home more polished than when it was given, to show what was gifted was not given in vain.
Economics & Politics: A Brief Discussion
Postulates
1. Natural inequality is intrinsic to life.
2. Greed is intrinsic to capitalism.
3. Corruption is intrinsic to socialism.
4. Artificial inequality arises from the greed and corruption that spin the revolving door between the private and public sectors.
Conclusions
Both socialism and capitalism are evil. Capitalism gives more individuals an opportunity to do great things and therefore tips the scales of justice to its side. Even the less capable has a chance at winning the lotto.
Note here that good cannot be achieved by giving more people a chance to be greedy. However, if evil is inevitable, it is fairer that everyone gets a shake in having a good life rather than limiting it to those most articulate and charismatic who become politicians and those most organized and influential who put them into office.
Discussion
Politicians are beholden to a handful of voting blocs that put them into office. Their scared cows are fed at the expense of other voting blocs with different breeds lest they and their party lose the next election. Each voting bloc wants to have many cows in their field as they can in order to remain relevant.
This posting focuses on two major breeds, the socialists’ breed and the capitalists’ breed.
Socialist cows have low self-esteem. They are lazy. They get fat from government favors and handouts. They are overfed and underworked. Their keepers let them languish on their own as their fields become a vast methane-filled wasteland. The cows remain content as long as they are fed and cared for by the state.
Capitalist cows are fussy, but they are ambitious. They grow from eating better than what they have. Their keepers have to keep up with new and interesting enticements so that the cows continue to work hard for what they want before they become lazy with boredom and join their socialist comrades.
The keepers of socialist cows depend on political cronyism to satisfy their breed and are therefore corrupt. The keepers of capitalists’ cows are greedy for they always want more to placate their fussy breed; meanwhile, they continue to accumulate wealth beyond their ability to consume in their lifetime.
The socialist wants to spread this wealth around. He does so by taxing it. In other words, he wants the capitalist to work a percentage of their workweek for free to benefit those who are lazy. This is forced charity to support those who do not deserve it and supplants voluntary donations for those truly needy.
The capitalist realizes that he cannot take his wealth to his grave. He gives it away, willfully in life and unwittingly at death. Either way, the wealth is spread but not by the will of a socialist.
The socialist state does not see this kind of wealth for the incentive to produce is diminished by the dictates of the system. The only people who earn some money are the political cronies and the politicians they elect to office. The rest are treated as an expense of the state. When a person becomes an expenditure, he is no longer an asset that produces. He is therefore a wasting asset until old age when he turns into a liability. Not even a compassionate socialist likes to dig into his pockets to pay for expensive healthcare for someone he does care about or know. But this is the result of an artificially created inequality that benefits the same crony institutions by means of corrupt arrangements with a socialist government. To avoid having bitter socialists, a person at his prime should have been given the opportunity to work hard and provide for his family and own retirement.
Under capitalism, everyone has a chance to strike it rich, even the dim, for they have their dumb luck. Granted there is a built-in inequality among people, but it is precisely this inequality that drives a free society. Not everyone can be a genius and sit like Rodin’s Thinker. If everyone is a genius, then nobody is going to roll up his sleeves to do the work. Of course, greed, the fuel for capitalism, is not exactly a virtue. But let poison be poison’s cure with this simple Rx: Caveat emptor!
1. Natural inequality is intrinsic to life.
2. Greed is intrinsic to capitalism.
3. Corruption is intrinsic to socialism.
4. Artificial inequality arises from the greed and corruption that spin the revolving door between the private and public sectors.
Conclusions
Both socialism and capitalism are evil. Capitalism gives more individuals an opportunity to do great things and therefore tips the scales of justice to its side. Even the less capable has a chance at winning the lotto.
Note here that good cannot be achieved by giving more people a chance to be greedy. However, if evil is inevitable, it is fairer that everyone gets a shake in having a good life rather than limiting it to those most articulate and charismatic who become politicians and those most organized and influential who put them into office.
Discussion
Politicians are beholden to a handful of voting blocs that put them into office. Their scared cows are fed at the expense of other voting blocs with different breeds lest they and their party lose the next election. Each voting bloc wants to have many cows in their field as they can in order to remain relevant.
This posting focuses on two major breeds, the socialists’ breed and the capitalists’ breed.
Socialist cows have low self-esteem. They are lazy. They get fat from government favors and handouts. They are overfed and underworked. Their keepers let them languish on their own as their fields become a vast methane-filled wasteland. The cows remain content as long as they are fed and cared for by the state.
Capitalist cows are fussy, but they are ambitious. They grow from eating better than what they have. Their keepers have to keep up with new and interesting enticements so that the cows continue to work hard for what they want before they become lazy with boredom and join their socialist comrades.
The keepers of socialist cows depend on political cronyism to satisfy their breed and are therefore corrupt. The keepers of capitalists’ cows are greedy for they always want more to placate their fussy breed; meanwhile, they continue to accumulate wealth beyond their ability to consume in their lifetime.
The socialist wants to spread this wealth around. He does so by taxing it. In other words, he wants the capitalist to work a percentage of their workweek for free to benefit those who are lazy. This is forced charity to support those who do not deserve it and supplants voluntary donations for those truly needy.
The capitalist realizes that he cannot take his wealth to his grave. He gives it away, willfully in life and unwittingly at death. Either way, the wealth is spread but not by the will of a socialist.
The socialist state does not see this kind of wealth for the incentive to produce is diminished by the dictates of the system. The only people who earn some money are the political cronies and the politicians they elect to office. The rest are treated as an expense of the state. When a person becomes an expenditure, he is no longer an asset that produces. He is therefore a wasting asset until old age when he turns into a liability. Not even a compassionate socialist likes to dig into his pockets to pay for expensive healthcare for someone he does care about or know. But this is the result of an artificially created inequality that benefits the same crony institutions by means of corrupt arrangements with a socialist government. To avoid having bitter socialists, a person at his prime should have been given the opportunity to work hard and provide for his family and own retirement.
Under capitalism, everyone has a chance to strike it rich, even the dim, for they have their dumb luck. Granted there is a built-in inequality among people, but it is precisely this inequality that drives a free society. Not everyone can be a genius and sit like Rodin’s Thinker. If everyone is a genius, then nobody is going to roll up his sleeves to do the work. Of course, greed, the fuel for capitalism, is not exactly a virtue. But let poison be poison’s cure with this simple Rx: Caveat emptor!
Friday, September 16, 2011
Class Warfare
Obama said in his job's speech, "This isn't class warfare." It is precisely class warfare otherwise there is no need to underscore the fact that he is not engaged in one. Therefore, I predict that the 2012 presidential election is going to be split between the Haves and the Have-nots. The latter group seems to be winning.
The Have-nots want a bigger government, despite the inefficiencies and corruption that are plaguing the current one. They are pushing for a federal infrastructure bank, a last step before establishing a national bank, like the Bank of China. With that, the government will have the power to decide what the private sector can or cannot do by controlling funding. As a result, corruption will replace innovation (Solyndra Inc.), apathy will replace productivity and economic activity will stagnate. Without a competitive market with plenty of choices, the Haves will join the Have-nots. Together they will have a low standard of living for the eager workers who produce good work and whose advancement depends on how well they do will become government employees who enjoy job and pay security and could care less about the quality of their output.
The future of the United States is not looking good. Its best days are over. If the Have-nots have their say, then the United States with its massive nuclear arsenal and lack of productivity will inevitably become very much like the "evil empire" that was once the USSR, poor and envious of those with vibrant and prosperous economies. That would truly be tragic.
On the bright side, United States has some good days left. During this time, more good days can be created with better ones to follow but draconian measures need to be taken quickly, from undoing the all mistakes of warmonger GW Bush and socialist Barack Obama to cleaning up the corruption and returning all the illegal immigrants to the immigration lines outside of the United States to start.
The Have-nots want a bigger government, despite the inefficiencies and corruption that are plaguing the current one. They are pushing for a federal infrastructure bank, a last step before establishing a national bank, like the Bank of China. With that, the government will have the power to decide what the private sector can or cannot do by controlling funding. As a result, corruption will replace innovation (Solyndra Inc.), apathy will replace productivity and economic activity will stagnate. Without a competitive market with plenty of choices, the Haves will join the Have-nots. Together they will have a low standard of living for the eager workers who produce good work and whose advancement depends on how well they do will become government employees who enjoy job and pay security and could care less about the quality of their output.
The future of the United States is not looking good. Its best days are over. If the Have-nots have their say, then the United States with its massive nuclear arsenal and lack of productivity will inevitably become very much like the "evil empire" that was once the USSR, poor and envious of those with vibrant and prosperous economies. That would truly be tragic.
On the bright side, United States has some good days left. During this time, more good days can be created with better ones to follow but draconian measures need to be taken quickly, from undoing the all mistakes of warmonger GW Bush and socialist Barack Obama to cleaning up the corruption and returning all the illegal immigrants to the immigration lines outside of the United States to start.
Thursday, September 15, 2011
The Securities & Exchange Commission
I had long thought that the SEC was not doing its job along with FNMA and Freddie Mac when the mortgage backed derivatives were packaged and sold. I also think that it was improper for the Financial Accounting Standards Board (FASB) to permit such assets to be marked to market rather than requiring them to be accounted for traditionally at the lower of cost or market.
In my opinion, the incompetence of FNMA and Freddie Mac in buying the bank mortgages without performing due diligence is not in dispute. The SEC's illegal destruction of records came to light on September 13, 2011, based on the admission quoted in paragraph below. The FASB has yet to be implicated.
"The SEC's enforcement chief made the disclosure in a letter Wednesday to Sen. Charles Grassley, R-Iowa. Grassley had asked about allegations by an SEC attorney that the agency illegally destroyed records related to thousands of preliminary probes, including investigations of Bank of America, Goldman Sachs, Wells Fargo and Madoff." See http://www.huffingtonpost.com/2011/09/14/sec-investigations-tosses-preliminary_n_963178.html?icid=maing-grid7|main5|dl1|sec3_lnk2|95811
Clean up the government and the nation's debt problems will be solved.
But no.
President Obama want a bigger government, more new agencies including a national infrastructure bank and tax revenues to pay for all of this. In essence, he wants to transfer wealth from the hard-working folks in the private sector to the hardly-working public servants.
Let me recommend a less nuanced method: Force every taxpayer, dead or alive, to file an estate tax return for the year ending December 31, 2011. Assess a flat 80% tax on the wealth in excess of $200,000 with no deductions. Use that money to pay for Obama's socialist state, and before leaving office, Obama should change the country's name from the United States of America to the Communist States of America. The rationale: Give back to Ceaser what belongs to Ceaser.
In my opinion, the incompetence of FNMA and Freddie Mac in buying the bank mortgages without performing due diligence is not in dispute. The SEC's illegal destruction of records came to light on September 13, 2011, based on the admission quoted in paragraph below. The FASB has yet to be implicated.
"The SEC's enforcement chief made the disclosure in a letter Wednesday to Sen. Charles Grassley, R-Iowa. Grassley had asked about allegations by an SEC attorney that the agency illegally destroyed records related to thousands of preliminary probes, including investigations of Bank of America, Goldman Sachs, Wells Fargo and Madoff." See http://www.huffingtonpost.com/2011/09/14/sec-investigations-tosses-preliminary_n_963178.html?icid=maing-grid7|main5|dl1|sec3_lnk2|95811
Clean up the government and the nation's debt problems will be solved.
But no.
President Obama want a bigger government, more new agencies including a national infrastructure bank and tax revenues to pay for all of this. In essence, he wants to transfer wealth from the hard-working folks in the private sector to the hardly-working public servants.
Let me recommend a less nuanced method: Force every taxpayer, dead or alive, to file an estate tax return for the year ending December 31, 2011. Assess a flat 80% tax on the wealth in excess of $200,000 with no deductions. Use that money to pay for Obama's socialist state, and before leaving office, Obama should change the country's name from the United States of America to the Communist States of America. The rationale: Give back to Ceaser what belongs to Ceaser.
Monday, September 12, 2011
Someone's Prediction Came True
When Obama was a presidential candidate and talking about change, some guy said all you'll have left is change in your pocket.
I thought it was funny because I did not think it would come to pass.
It's not funny now.
I thought it was funny because I did not think it would come to pass.
It's not funny now.
The Dawning of American Socialism
I am not a political scientist and not qualified to render a treatise on socialism in the United States, but simply believe that American socialism began after the fall of fascism under GW Bush (see http://desertpeace.wordpress.com/2008/05/22/george-bush-is-a-fascist-you-wanted-proof-here-it-is/) shortly before he left office when the forces inhabiting Washington was on the brink of nationalizing banks in 2008 and delivered ObamaCare in March of 2010.
I also believe that socialism has ironically been made possible in the United States and palatable to Americans by the waning of Chinese communism and the outsourcing of manufacturing and pollution to China, the resultant expansion of its economy, rapid accumulation of wealth and the communists' purchase of United States capitalists' notes.
Palatable at first, but the road ahead will be painful, as if the pain is not already being felt, if the United States of America continues to go down the socialist path. Everyone will suffer and those whom the "bleeding heart progressives" intend to help will become neglected and suffer even more, for when push comes to shove, most people, progressives included, will adopt the "me and my family first" mentality. Even the powerful and corrupt will have to live with far less choices in the marketplace than under capitalism. And if a new disease breaks out, there may not be enough medication assuming a timely doctor's appointment is available, if there is even a medication for it under an incentiveless socialist state.
Look at Europe, it is not so bad, some people say. Perhaps not, but next time you go, get out of those Michelin-rated restaurants, the 4-star hotels, all the touristy places for the cash-rich Arab and the near-extinct credit-wealthy American and check out the grocery stores for the working folks. And talk to the locals about their healthcare. If a majority of Americans like what they see and hear, then be socialist Europe, but Obama may have already taken the United States into Marxist territory, or is it TERRORtory?
I also believe that socialism has ironically been made possible in the United States and palatable to Americans by the waning of Chinese communism and the outsourcing of manufacturing and pollution to China, the resultant expansion of its economy, rapid accumulation of wealth and the communists' purchase of United States capitalists' notes.
Palatable at first, but the road ahead will be painful, as if the pain is not already being felt, if the United States of America continues to go down the socialist path. Everyone will suffer and those whom the "bleeding heart progressives" intend to help will become neglected and suffer even more, for when push comes to shove, most people, progressives included, will adopt the "me and my family first" mentality. Even the powerful and corrupt will have to live with far less choices in the marketplace than under capitalism. And if a new disease breaks out, there may not be enough medication assuming a timely doctor's appointment is available, if there is even a medication for it under an incentiveless socialist state.
Look at Europe, it is not so bad, some people say. Perhaps not, but next time you go, get out of those Michelin-rated restaurants, the 4-star hotels, all the touristy places for the cash-rich Arab and the near-extinct credit-wealthy American and check out the grocery stores for the working folks. And talk to the locals about their healthcare. If a majority of Americans like what they see and hear, then be socialist Europe, but Obama may have already taken the United States into Marxist territory, or is it TERRORtory?
Obama Checkmated Himself
This is too funny: Just after Obama announced that he is about to go around the country to market his plan to create jobs, a plan that comes with raising taxes by slashing deductions for state taxes, mortgage interest and charitable contributions on Schedule A, Bank of America introduced its jobs package -- eliminating 30,000 jobs over the next few years and closing branches -- perhaps in part to save money to pay off the Obama administration's lawsuit against it and other banks filed on September 2, 2011, see details in this blog under "Obama Comes Full Circle" on September 2, 2011, and in part to prepare to realize a real loss on the bank's shadow inventory (underwater mortgages) because people would rent rather than purchase without the mortgage deduction.
With no housing recovery in sight, the shadow inventory will be dumped. That way, the property owners will get even richer because they can now buy cheap properties cheaper and rent it out for a healthy return, thanks to the mortgage deduction available to businesses and the depreciation on rental properties. That means less tax revenue for you to spend, Mr. Obama. Rich people may also enter into a sale and leaseback transaction, not that some of them are not doing that already.
Tax considerations aside, there will be no new housing with no end to recovery in sight with shadow inventory flooding the market. That means no new construction. Its rippling effect will lead to a triple-dip recession, one that maybe coined the Obama triple dipper.
The same sword Obama uses to cut off wealth to the rich has this other edge with the capability to cut him and his family off from any potential economic gain after he leaves office since a capitalist will not likely seek advice from a socialist and a socialist will not likely want to work very hard under capitalism since he/she expects the government to provide it all.
The evidence is in: By holding up his hot-off-the-press printed jobs plan and a double-edged sword this morning, Barack Obama demonstrates that he has no clue as to how capital works and apparently he is not paying attention to those who do, yet he needs a functioning and prosperous capital market to get him re-elected and more importantly, earn him a respectable legacy and some lucrative speaking engagements when he turns in his key to the White House.
Unless he eats crow and unravels his policies, this political chess game of jobs and spending is over for President Obama, and his presidency may very well end on January 20, 2013.
With no housing recovery in sight, the shadow inventory will be dumped. That way, the property owners will get even richer because they can now buy cheap properties cheaper and rent it out for a healthy return, thanks to the mortgage deduction available to businesses and the depreciation on rental properties. That means less tax revenue for you to spend, Mr. Obama. Rich people may also enter into a sale and leaseback transaction, not that some of them are not doing that already.
Tax considerations aside, there will be no new housing with no end to recovery in sight with shadow inventory flooding the market. That means no new construction. Its rippling effect will lead to a triple-dip recession, one that maybe coined the Obama triple dipper.
The same sword Obama uses to cut off wealth to the rich has this other edge with the capability to cut him and his family off from any potential economic gain after he leaves office since a capitalist will not likely seek advice from a socialist and a socialist will not likely want to work very hard under capitalism since he/she expects the government to provide it all.
The evidence is in: By holding up his hot-off-the-press printed jobs plan and a double-edged sword this morning, Barack Obama demonstrates that he has no clue as to how capital works and apparently he is not paying attention to those who do, yet he needs a functioning and prosperous capital market to get him re-elected and more importantly, earn him a respectable legacy and some lucrative speaking engagements when he turns in his key to the White House.
Unless he eats crow and unravels his policies, this political chess game of jobs and spending is over for President Obama, and his presidency may very well end on January 20, 2013.
Sunday, September 11, 2011
Heaven Imagined
You step into an empty amphitheater, as large as you imagine it to be. You are there alone. It does not matter where you sit, what look like or how you dress. In a moment you will feel awkward, self-conscious and out of place.
In the blink of an eye, the entire place is filled, packed with angels, with no air space in between them or in between you and the ones surrounding you. They are assembled in concentric circles, each higher and wider than the one above. You can tell that they are not just one layer deep but you do not know how many layers deep behind you they go. They are spirits; you are human. They are clothed in ethereal white. Perhaps you have on a t-shirt, a pair of jeans and some sneakers. You have never felt so foreign but no angel considers you foreign. Knowing that does nothing for you. You are not at ease. You want to shift your weight to get into a more comfortable position but you notice all the angels are remaining still in their places. You dare not move.
They start to sing. They sing in unison. You have never heard anything so beautiful, so perfect, so uplifting, whatever the sounds you hear and whatever you understand their words to be. You close your eyes. You know you are in heaven. You think to yourself: this is absolute perfection.
Just as it could not in your imagination get better, it does. A single voice penetrates and complements the chorus with a song, melodious and harmonious, a voice so pure and clear it cleanses you from the inside out. You imagine the effect to be the same had it been a cascade of cool crystal water from the very first rain ever, extracted from deep inside a glacier somewhere, frozen in time but melted for you to drink and bathe in to purify your body, mind and soul.
While you are being refreshed and renewed, the solo voice diminuendoes and merges with the chorus. You once again close your eyes, feeling lightness all over, unburdened by anchors of earthly concerns and the weight of sins. You become deeply entranced by the angelic voices surrounding you. By losing yourself, you join the angels and the music.
As you have imperceptibly transformed, so has the beautiful music subtly grown. It has become more layered, more complex, more encompassing, grander and more beautiful than what you believed to be perfection to start with. You open your eyes. The amphitheater has become bigger. Much, much bigger. You no longer see the top of it nor can you see the edge of the highest circle and you have no clue how many more layers it now has behind you, but you can see that it is packed with angels, far too many to even think of counting.
Your visual and auditory senses are overwhelmed. You close your eyes once more as the heavenly music continues to bring you total fulfillment. You feel lifted. You are lifted.
Abruptly, the tempo changes. You feel the gravities of earth, life and sins set in. You return to reality. In it, some of the noises you hear are lies, hypocrisy and rationale based on intellectual dishonesty and some of the things you see include those people who hunger for greed or self-importance and those who betray their conscience or pawn their souls to evil.
You pine to return to heaven. There are ways to get there.
The alternative is unbearable.
In the blink of an eye, the entire place is filled, packed with angels, with no air space in between them or in between you and the ones surrounding you. They are assembled in concentric circles, each higher and wider than the one above. You can tell that they are not just one layer deep but you do not know how many layers deep behind you they go. They are spirits; you are human. They are clothed in ethereal white. Perhaps you have on a t-shirt, a pair of jeans and some sneakers. You have never felt so foreign but no angel considers you foreign. Knowing that does nothing for you. You are not at ease. You want to shift your weight to get into a more comfortable position but you notice all the angels are remaining still in their places. You dare not move.
They start to sing. They sing in unison. You have never heard anything so beautiful, so perfect, so uplifting, whatever the sounds you hear and whatever you understand their words to be. You close your eyes. You know you are in heaven. You think to yourself: this is absolute perfection.
Just as it could not in your imagination get better, it does. A single voice penetrates and complements the chorus with a song, melodious and harmonious, a voice so pure and clear it cleanses you from the inside out. You imagine the effect to be the same had it been a cascade of cool crystal water from the very first rain ever, extracted from deep inside a glacier somewhere, frozen in time but melted for you to drink and bathe in to purify your body, mind and soul.
While you are being refreshed and renewed, the solo voice diminuendoes and merges with the chorus. You once again close your eyes, feeling lightness all over, unburdened by anchors of earthly concerns and the weight of sins. You become deeply entranced by the angelic voices surrounding you. By losing yourself, you join the angels and the music.
As you have imperceptibly transformed, so has the beautiful music subtly grown. It has become more layered, more complex, more encompassing, grander and more beautiful than what you believed to be perfection to start with. You open your eyes. The amphitheater has become bigger. Much, much bigger. You no longer see the top of it nor can you see the edge of the highest circle and you have no clue how many more layers it now has behind you, but you can see that it is packed with angels, far too many to even think of counting.
Your visual and auditory senses are overwhelmed. You close your eyes once more as the heavenly music continues to bring you total fulfillment. You feel lifted. You are lifted.
Abruptly, the tempo changes. You feel the gravities of earth, life and sins set in. You return to reality. In it, some of the noises you hear are lies, hypocrisy and rationale based on intellectual dishonesty and some of the things you see include those people who hunger for greed or self-importance and those who betray their conscience or pawn their souls to evil.
You pine to return to heaven. There are ways to get there.
The alternative is unbearable.
Friday, September 9, 2011
Obama’s Worthless Jobs Speech
Obama went on national television yesterday after the market closed to announce a plan to create jobs. That was another waste of time and a disservice to the economy. The DOW dropped 303.68 points at the close of today’s trading.
Obama once again demonstrated he is clueless when it comes to capital. Perhaps I am the one clueless. Nonetheless, let me outline:
1. Jobs follow capital spending.
2. Private capital spending creates jobs that lead to earnings which in turn lead to more new jobs and new tax revenue.
3. Government capital spending creates dead-end jobs. For example, modernizing schools and infrastructure renewal by the government are not profitable and will not create new jobs or new tax revenue after they are completed. Federal jobs program is a form of social welfare, an addictive drug that creates dependency on the people who feed on it.
3.1 Leave funding for schools and infrastructure to the states and municipalities by issuing municipal bonds. Let these decisions be made locally and not in Washington.
I sent to Obama's campaign office an e-mail a week or so ago, making the suggestion I had posted on this blog on August 13th under the title “Two Simple Fiscal Policies To Match Bernanke's New Monetary Policy.” The people there should read that carefully. There was no cheap $4,000 tax credit cap for hiring unemployed workers by businesses. There was a $100,000 tax credit cap by anyone hiring a new worker. Also, there was no restriction on hiring of new workers, whether or not they have been unemployed 6 months or longer because that is for the private sector to decide, not the government. This requirement is absolutely stupid because companies usually hang on to their best employees until the very last moment when they cannot afford them anymore. Nonetheless, Obama plans to send the recently terminated star employees to stand in the unemployment line in favor of second and third tier workers. Is this socialism? I suppose Obama does not support capitalism since he has been a beneficiary of the public sector for too long, has no entrepreneurial experience (oh "my bad," he wrote two books to raise money for his 2008 presidential campaign) and is likely intimidated by those who have. Apparently a majority of those in his cabinet maybe in the same category as well, see http://blogs.ajc.com/kyle-wingfield/2009/11/30/obamas-cabinet-this-graph-explains-a-lot/
Yet there is a contradiction. Obama wants good schools to provide a good education for Americans, so that the more ambitious, more educated, more talented and more capable can stand in line for work behind those less ambitious, less educated, less talented and less capable and watch them compete with the smartest in India and elsewhere in Asia? Brilliant.
I could go on and on and dig a deeper gutter for Obama's jobs plan but who am I to criticize and give advice to someone so charismatic and articulate? Barack Obama is the most powerful person in the world right now and he can do pretty much whatever he pleases.
I hear that on September 11, 2011, President Obama might be together with his predecessor GW Bush at ground zero. I ought to be able to tell them apart if I happen to see a picture but it is becoming more and more difficult.
Obama once again demonstrated he is clueless when it comes to capital. Perhaps I am the one clueless. Nonetheless, let me outline:
1. Jobs follow capital spending.
2. Private capital spending creates jobs that lead to earnings which in turn lead to more new jobs and new tax revenue.
3. Government capital spending creates dead-end jobs. For example, modernizing schools and infrastructure renewal by the government are not profitable and will not create new jobs or new tax revenue after they are completed. Federal jobs program is a form of social welfare, an addictive drug that creates dependency on the people who feed on it.
3.1 Leave funding for schools and infrastructure to the states and municipalities by issuing municipal bonds. Let these decisions be made locally and not in Washington.
I sent to Obama's campaign office an e-mail a week or so ago, making the suggestion I had posted on this blog on August 13th under the title “Two Simple Fiscal Policies To Match Bernanke's New Monetary Policy.” The people there should read that carefully. There was no cheap $4,000 tax credit cap for hiring unemployed workers by businesses. There was a $100,000 tax credit cap by anyone hiring a new worker. Also, there was no restriction on hiring of new workers, whether or not they have been unemployed 6 months or longer because that is for the private sector to decide, not the government. This requirement is absolutely stupid because companies usually hang on to their best employees until the very last moment when they cannot afford them anymore. Nonetheless, Obama plans to send the recently terminated star employees to stand in the unemployment line in favor of second and third tier workers. Is this socialism? I suppose Obama does not support capitalism since he has been a beneficiary of the public sector for too long, has no entrepreneurial experience (oh "my bad," he wrote two books to raise money for his 2008 presidential campaign) and is likely intimidated by those who have. Apparently a majority of those in his cabinet maybe in the same category as well, see http://blogs.ajc.com/kyle-wingfield/2009/11/30/obamas-cabinet-this-graph-explains-a-lot/
Yet there is a contradiction. Obama wants good schools to provide a good education for Americans, so that the more ambitious, more educated, more talented and more capable can stand in line for work behind those less ambitious, less educated, less talented and less capable and watch them compete with the smartest in India and elsewhere in Asia? Brilliant.
I could go on and on and dig a deeper gutter for Obama's jobs plan but who am I to criticize and give advice to someone so charismatic and articulate? Barack Obama is the most powerful person in the world right now and he can do pretty much whatever he pleases.
I hear that on September 11, 2011, President Obama might be together with his predecessor GW Bush at ground zero. I ought to be able to tell them apart if I happen to see a picture but it is becoming more and more difficult.
Light & Shade
A discussion of light givers and takers in a previous post ("Giving Light" on August 30) is incomplete without identifying the shades. Shades are so consumed by evil that they have little redemptive possibility. Since the slightest possibility of redemption does exist, they are not quite evil’s surrogates.
Shades are by nature dark, as in lightless. They can be thought of as invisible 2-D shadows that depend on reflected light of the evil to give them 3-D shape. Reflected light is not divine light. It is just the opposite. Since it can be just as bright and virtually indistinguishable from true light, it is therefore absolutely deceitful.
When a shadow takes on reflected light, it assumes human form and like the reflected light from which it arises, the deceit is absolute and the entity is in all respects human even though it continues to have the character of a shade. In its human shape, a shade continues to absorb light. The more light it absorbs, the more attention it gets and the more powerful it becomes. A consistent betrayer of truth, a shade uses falsehoods to manipulate light givers into giving it light.
By the time the truth is known and light givers withdraw their light, the shade would usually have already wreaked havoc and done irreparable damage. To avoid being tricked by shades is to recognize them at the outset, but a light giver who continues to shed light on a shade to nurture its existence after its evil nature has been revealed is in the process of becoming a shade himself.
Shades stand apart by the intensity of evilness in the reflected light on which they continuously depend but telling which human is a truly a shade is not easy for even light givers are at times lit by reflected light for evil permeates all.
So what is reflected light? Think of it as a constant charge of evil energy from hell. And how does a shade use it? A hypothetical can illustrate this: a politician (a lightless figure) relying on the 9-11 disaster (through an act with enough evil energy and light to outlast human history) to be seen (becomes a hell-lit 3-D human shade).
On the other hand, a man of cloth using the crucifixion of Christ to preach to his congregation is not a shade because the crucifixion was not an act that was evil in origin. It was a preordained salvific event representing the death of original sin, the end of eternal death and the return to a place of lasting peace. Moreover, unlike a shade using an evil event to underscore its own importance, a sermon on the crucifixion does not draw attention to the speaker; rather, attention is directed away from the speaker toward the event giving it meaning, so that those listening might internalize its holy purposes.
However, in another instance, a man of cloth could certainly be a shade. When one talks ceaselessly about the need to give to the poor when he himself is adequately hydrated, fed, dressed, housed and insured, and comes under a religion that owns an impressive portfolio of real estate globally and priceless objects of art when there are still homeless people living with thirst, hunger and disease, he is existing in hypocrisy. Since hypocrisy is evil in nature, a preacher who is a hypocrite is therefore a shade, a 2-D shadow with hell's light shining on him giving him 3-D shape. [1.]
Although shades are often found among people with power or influence, including those making money or winning awards off various atrocities of human suffering past or present or created by them, there are shades that are everyday people. For example, a person who always finds the need to put someone down to gain an advantage, stab someone from behind to get ahead or betray someone's trust for improper gain, that person is a shade, for these are things that are either evil in origin or in nature and will therefore give the shade the necessary reflected light to sustain its 3-D constitution.
For any shade that is still in existence, it has a shred of redemptive possibility since it can choose divine light over reflected light to maintain its human form and become a light giver. There are countless ways to obtain divine light for there is no end to goodness but when these ways are ignored in favor of evil’s reflected light, the shade is continuing with its steadfast transformation until it is evil's surrogate at which point no redemption can occur.
[1.] An excerpt of a prayer by the companions of Francis of Assisi after his death seems appropriate here:
"Do not allow that those
who are like you by profession
be unlike you in life."
Armstrong, Regis J. O.F.M. Cap. et.al. Francis of Assisi: Early Documents, Volume II, The Founder. Page 392. New York: New York City Press, 2000.
Shades are by nature dark, as in lightless. They can be thought of as invisible 2-D shadows that depend on reflected light of the evil to give them 3-D shape. Reflected light is not divine light. It is just the opposite. Since it can be just as bright and virtually indistinguishable from true light, it is therefore absolutely deceitful.
When a shadow takes on reflected light, it assumes human form and like the reflected light from which it arises, the deceit is absolute and the entity is in all respects human even though it continues to have the character of a shade. In its human shape, a shade continues to absorb light. The more light it absorbs, the more attention it gets and the more powerful it becomes. A consistent betrayer of truth, a shade uses falsehoods to manipulate light givers into giving it light.
By the time the truth is known and light givers withdraw their light, the shade would usually have already wreaked havoc and done irreparable damage. To avoid being tricked by shades is to recognize them at the outset, but a light giver who continues to shed light on a shade to nurture its existence after its evil nature has been revealed is in the process of becoming a shade himself.
Shades stand apart by the intensity of evilness in the reflected light on which they continuously depend but telling which human is a truly a shade is not easy for even light givers are at times lit by reflected light for evil permeates all.
So what is reflected light? Think of it as a constant charge of evil energy from hell. And how does a shade use it? A hypothetical can illustrate this: a politician (a lightless figure) relying on the 9-11 disaster (through an act with enough evil energy and light to outlast human history) to be seen (becomes a hell-lit 3-D human shade).
On the other hand, a man of cloth using the crucifixion of Christ to preach to his congregation is not a shade because the crucifixion was not an act that was evil in origin. It was a preordained salvific event representing the death of original sin, the end of eternal death and the return to a place of lasting peace. Moreover, unlike a shade using an evil event to underscore its own importance, a sermon on the crucifixion does not draw attention to the speaker; rather, attention is directed away from the speaker toward the event giving it meaning, so that those listening might internalize its holy purposes.
However, in another instance, a man of cloth could certainly be a shade. When one talks ceaselessly about the need to give to the poor when he himself is adequately hydrated, fed, dressed, housed and insured, and comes under a religion that owns an impressive portfolio of real estate globally and priceless objects of art when there are still homeless people living with thirst, hunger and disease, he is existing in hypocrisy. Since hypocrisy is evil in nature, a preacher who is a hypocrite is therefore a shade, a 2-D shadow with hell's light shining on him giving him 3-D shape. [1.]
Although shades are often found among people with power or influence, including those making money or winning awards off various atrocities of human suffering past or present or created by them, there are shades that are everyday people. For example, a person who always finds the need to put someone down to gain an advantage, stab someone from behind to get ahead or betray someone's trust for improper gain, that person is a shade, for these are things that are either evil in origin or in nature and will therefore give the shade the necessary reflected light to sustain its 3-D constitution.
For any shade that is still in existence, it has a shred of redemptive possibility since it can choose divine light over reflected light to maintain its human form and become a light giver. There are countless ways to obtain divine light for there is no end to goodness but when these ways are ignored in favor of evil’s reflected light, the shade is continuing with its steadfast transformation until it is evil's surrogate at which point no redemption can occur.
[1.] An excerpt of a prayer by the companions of Francis of Assisi after his death seems appropriate here:
"Do not allow that those
who are like you by profession
be unlike you in life."
Armstrong, Regis J. O.F.M. Cap. et.al. Francis of Assisi: Early Documents, Volume II, The Founder. Page 392. New York: New York City Press, 2000.
Friday, September 2, 2011
Paix - 31 août
I am not one who is at peace. I can be doing nothing, thinking of nothing, being plain bored or simply day dreaming but I am not at peace. I know what it feels like to be at peace because I have been at peace before, but only momentarily, until two days ago.
That was the last day of August. For some reason, I felt it, an inner peace, not just for a moment, but the entire day. I saw myself in multiple situations where I would normally become agitated but for some reason was not. One of those situations stood out.
I am always in a rush to get to the gym and get impatient when there is a slow driver ahead. No different than any other day, that last day of August, at about the same time on the same road that I traveled on countless times before, going to the gym was, sure enough, an inattentive driver who was looking out his side window who did not move when the light turned green. On occasions such as this, my nature is to become impatient. I knew I had plenty of inner peace earlier in the day but was not sure if it had run out. So I was prepared to become impatient, kind of even wanted to experience impatience, but it never came. That was weird.
When the driver realized that the light must have been green for a while, he sped off. That was pretty funny. Continuing on my way, I thought to myself that the sky could have fallen on me right then and I would have been unflappable. Nothing mattered. It was an amazing feeling.
I realize that that was a gift and I was thankful.
I want to have more of those days filled with such powerful inner peace but sadly I have not had a moment of it since.
That was the last day of August. For some reason, I felt it, an inner peace, not just for a moment, but the entire day. I saw myself in multiple situations where I would normally become agitated but for some reason was not. One of those situations stood out.
I am always in a rush to get to the gym and get impatient when there is a slow driver ahead. No different than any other day, that last day of August, at about the same time on the same road that I traveled on countless times before, going to the gym was, sure enough, an inattentive driver who was looking out his side window who did not move when the light turned green. On occasions such as this, my nature is to become impatient. I knew I had plenty of inner peace earlier in the day but was not sure if it had run out. So I was prepared to become impatient, kind of even wanted to experience impatience, but it never came. That was weird.
When the driver realized that the light must have been green for a while, he sped off. That was pretty funny. Continuing on my way, I thought to myself that the sky could have fallen on me right then and I would have been unflappable. Nothing mattered. It was an amazing feeling.
I realize that that was a gift and I was thankful.
I want to have more of those days filled with such powerful inner peace but sadly I have not had a moment of it since.
HP Touchpad Update
Below are quotes from a hp.com link at http://h20435.www2.hp.com/t5/The-Next-Bench-Blog/More-TouchPads-on-the-Way/ba-p/68749
"Despite announcing an end to manufacturing webOS hardware, we have decided to produce one last run of TouchPads to meet unfulfilled demand."
Does that mean HP will stop making its TouchPad after its final run? I think yes if nothing else was said but read what followed:
"Q: Can you comment on whether HP had to manufacture more to meet the recent demand?
"HP will be manufacturing a limited quantity of TouchPads with webOS during our fourth fiscal quarter 2011, which ends October 31." (Emphasis added)
Does that mean HP may manufacture a Touchpad using another operating system or will no Touchpad phoenix arise from the ashes of the webOS Touchpad?
I still think a TouchDroid is a good idea. A Google-HP business deal is not antitrust, is it? Apple may think so though.
"Despite announcing an end to manufacturing webOS hardware, we have decided to produce one last run of TouchPads to meet unfulfilled demand."
Does that mean HP will stop making its TouchPad after its final run? I think yes if nothing else was said but read what followed:
"Q: Can you comment on whether HP had to manufacture more to meet the recent demand?
"HP will be manufacturing a limited quantity of TouchPads with webOS during our fourth fiscal quarter 2011, which ends October 31." (Emphasis added)
Does that mean HP may manufacture a Touchpad using another operating system or will no Touchpad phoenix arise from the ashes of the webOS Touchpad?
I still think a TouchDroid is a good idea. A Google-HP business deal is not antitrust, is it? Apple may think so though.
Obama Comes Full Circle
On a clear cold winter day in January 2009, Obama took office with by and large a democratic Congress, with two independents siding with the democrats giving the democrats a majority in both houses. After swearing in, President Obama could have challenged the law signed by GW Bush and led the nation to repeal the $700 billion bank bailout plan, but he chose not to do so.
Today, just short of two years and nine months later, there is news that the Federal Housing Finance Agency ("FHFA")under Obama has threatened to sue the very banks that received the bailout cash.
If I understand this correctly, the US government had bailed out the nation's largest banks, fearing that they would ruin the world economy should they fail. The Obama administration tacitly doled out $700 billion to aid the failing banks knowing full well that they had handed out mortgages to unqualified borrowers by falsifying their qualifications on their loan applications during a real estate bubble, and that these borrowers became insolvent when they lost their jobs during a normal economic slowdown.
The FHFA, claiming that Fannie Mae and Freddie Mac were deceived by the banks by selling them lies-backed mortgages, now plans to sue to get their money back, the very money that was lent by their boss, the United States President, with full knowledge of such misrepresentations so that the world economy could be stabilized.
I am in need of a reality check.
Reality check #1 -- a recap: The US government knew that bailout money was given to the banks based on the knowledge that they had made loans based on false and misleading information, and now the US government, wanting its money back, is planning to use its agencies, which by the way failed to perform their due diligence before buying these loans from the banks, to claim that they were misled by the same false and misleading information on which the bailout was approved and handed out in the first place? Give me a break.
Reality check #2: The world economy has not been stabilized. The US unemployment figure is still at 9.1 percent. To attempt to take the money away from the very institutions that are the backbone of the world's economy now is to replay the condition in 2008, confronting a possible collapse of the world's financial structure.
Reality check #3: The idiot index needs to be re-calibrated for new lows.
Let me propose a solution.
To all the CEOs of banks: Admit that you were greedy, that you overreached and are working to build a better, more stable economy by weeding out corrupt practices. Then tell President Obama, and Congress, that the financial markets or the economy ought not be pawns in the game of politics. However, if the politicians still insist to use them as pawns for political gains, then together, you should resign, hand over the responsibilities of running the world's biggest banks to Washington and walk off. Let everyone be poor and Barack return to his old job as a community organizer. That would indeed be a full circle for Obama.
Update 6:47 PST: The lawsuit is no longer a threat. It was filed.
One hour & 42 minutes ago: "NEW YORK (AP) — The government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.
"Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., and Goldman Sachs Group Inc. Large European banks including The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued.
"The lawsuits were filed by the Federal Housing Finance Agency. It oversees Fannie and Freddie, the two agencies that buy mortgages loans and mortgage securities issued by the lenders.
"The total price tag for the mortgage-backed securities sold to Fannie and Freddie by the firms named in the lawsuits: $196 billion.
"The government didn't say how much it is seeking in damages. It said it wants to have the securities sales canceled and wants to be compensated for lost principal, interest payments as well as for attorney fees." See http://news.yahoo.com/feds-sue-big-banks-over-sales-risky-investments-000212787.html
It seems like the game has changed from shoring up the world economy so everyone can prosper to everyone for himself and get the money while it's still there.
So the question to ask now is: What about me?
I am a victim too.
Can I join the government's lawsuit to recover my lost wealth resulting from the 2008 financial market crisis caused by the mortgage-backed securities fraud? I seek restitution and legal fees, but have not decided whether to plead for treble damages and interest in the alternative. How about an investors' class action? That ought to be interesting.
Today, just short of two years and nine months later, there is news that the Federal Housing Finance Agency ("FHFA")under Obama has threatened to sue the very banks that received the bailout cash.
If I understand this correctly, the US government had bailed out the nation's largest banks, fearing that they would ruin the world economy should they fail. The Obama administration tacitly doled out $700 billion to aid the failing banks knowing full well that they had handed out mortgages to unqualified borrowers by falsifying their qualifications on their loan applications during a real estate bubble, and that these borrowers became insolvent when they lost their jobs during a normal economic slowdown.
The FHFA, claiming that Fannie Mae and Freddie Mac were deceived by the banks by selling them lies-backed mortgages, now plans to sue to get their money back, the very money that was lent by their boss, the United States President, with full knowledge of such misrepresentations so that the world economy could be stabilized.
I am in need of a reality check.
Reality check #1 -- a recap: The US government knew that bailout money was given to the banks based on the knowledge that they had made loans based on false and misleading information, and now the US government, wanting its money back, is planning to use its agencies, which by the way failed to perform their due diligence before buying these loans from the banks, to claim that they were misled by the same false and misleading information on which the bailout was approved and handed out in the first place? Give me a break.
Reality check #2: The world economy has not been stabilized. The US unemployment figure is still at 9.1 percent. To attempt to take the money away from the very institutions that are the backbone of the world's economy now is to replay the condition in 2008, confronting a possible collapse of the world's financial structure.
Reality check #3: The idiot index needs to be re-calibrated for new lows.
Let me propose a solution.
To all the CEOs of banks: Admit that you were greedy, that you overreached and are working to build a better, more stable economy by weeding out corrupt practices. Then tell President Obama, and Congress, that the financial markets or the economy ought not be pawns in the game of politics. However, if the politicians still insist to use them as pawns for political gains, then together, you should resign, hand over the responsibilities of running the world's biggest banks to Washington and walk off. Let everyone be poor and Barack return to his old job as a community organizer. That would indeed be a full circle for Obama.
Update 6:47 PST: The lawsuit is no longer a threat. It was filed.
One hour & 42 minutes ago: "NEW YORK (AP) — The government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.
"Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., and Goldman Sachs Group Inc. Large European banks including The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued.
"The lawsuits were filed by the Federal Housing Finance Agency. It oversees Fannie and Freddie, the two agencies that buy mortgages loans and mortgage securities issued by the lenders.
"The total price tag for the mortgage-backed securities sold to Fannie and Freddie by the firms named in the lawsuits: $196 billion.
"The government didn't say how much it is seeking in damages. It said it wants to have the securities sales canceled and wants to be compensated for lost principal, interest payments as well as for attorney fees." See http://news.yahoo.com/feds-sue-big-banks-over-sales-risky-investments-000212787.html
It seems like the game has changed from shoring up the world economy so everyone can prosper to everyone for himself and get the money while it's still there.
So the question to ask now is: What about me?
I am a victim too.
Can I join the government's lawsuit to recover my lost wealth resulting from the 2008 financial market crisis caused by the mortgage-backed securities fraud? I seek restitution and legal fees, but have not decided whether to plead for treble damages and interest in the alternative. How about an investors' class action? That ought to be interesting.
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