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Tuesday, October 6, 2009

My Letter To The Pennsylvania U.S. Congress

To: Congresspersons: Congressman Tim Murphy, Congressman Jason Altmire, Senator Arlen Specter, Senator Bob Casey, jr, and Senator Max Baucus

From: Jerry ******
120 ****** Av.
*************, PA 15***

October 6, 2009

Dear Congresspersons,

I am writing to all of you, at one time, in order to let each of you know exactly what I think and how I feel regarding the current state of affairs inside the Obama administration and its Congress.

I am thoroughly disgusted with the Democratic Party and the Obama administration. It appears that what has occurred following the regime of Little Boy Bush, which was supported by the coward Congressman Murphy, who supported that failed president and all his neo-fascist ideas for 8 years, is more of the same. Now, CONgressman Murphy should be replaced in the next election cycle, as should be CONgressman and Blue Dogshit Coalition member Jason Altmire.

Now, regarding the Democrats, I am sick of them, as well. As Michael Moore recently stated, because the Democrats have failed their populist roots and have fallen lock step behind the CONservative Repugni-CONS, they have sent many hard working Americans adrift toward the falls to be washed underwater by the tidal pools.

Senator Baucus has turned out to a Democratic Turncoat by giving up, at the very least, a Public Health Care Option. And, at the very best a Single Payer health care program. Instead, Baucus has decided to support a nice insurance industry gift horse called health care exchanges. Now, the health care companies will begin to become the biggest investment industry in the nation, offering health insurance as a side business. There already exists a economic financial crime syndicate, which CONgress has failed to investigate. Instead, CONgress has been engaging in the biggest economic stimulus program, which should be called Bail-Out Plus, and has included TARP, TALF, PPIP, Fed Fund Window Cash for Trash handouts and more. This has amounted to over $2T for the economic financial crime syndicate, instead of it money going into the real jobs manufacturing economy.

The Federal Reserve needs to be audited and then, once it is discovered, to no one’s surprise that it has been engaged in an economic crime syndicate take over by the US government and Bernanke, the crooks should be prosecuted for crimes against our country’s national security. Just look at the secret meetings that went on between GS, Bernanke and Paulson!!! Don’t forget the incompetent Geithner’s role as the New York Federal Reserve Chairman and his role of the do-nothing-regulatory-but-thought-he-wasn’t-a- regulator-yet-should-have-been!

What we have now is a no government government. What is in power is an oligarchy---the financial banking investment crime syndicate. What we have is not a Congress or Executive Branch, but a financial investment corporate board room with bought and paid for board members, called President Obama and Vice President Biden. Then we have the bought and paid for share holders called Congress.

Obama has shown to be a coward, jetting around the world, shaking hands and giving worthless speeches as the citizens lose their jobs, homes, retirement, health care, and watch their credit card interest rates being jacked up handing over massive gains to the financial banking investment crime syndicate. I am sorry I voted for him and should have voted third party instead. I have been a tried-and true Democrat, but no more!! I will vote third party every time now. The two parties show no difference, for the most part.

Where is FDR when you need him the most?

Senator Specter has turned Democrat, but that seems just about it. Nothing more. A Public Option is demanded by the public, therefore it must be included in any bill and let the traitors turn it down filibuster it and show the voters just who they are.

In addition, the war in Afghanistan should be ended. The war in Iraq must be ended now. The funds must be returned home, along with all the soldiers. 8 years in Afghanistan and nearly 7 years in Iraq are quite enough. END THEM NOW! The military/surveillance industrialization of American must be given a major haircut, as was warned by President Eisenhower.

We will see, in spite of the head fakes on Wall Street as they and Bernanke manipulate the stock prices, the economy further collapsing and commercial real estate taking a nosedive worse than during the subprime mortgage debacle. The dollar will become subverted, as the dollar will eventually no longer be used as the world’s reserve currency, especially when traded for world oil. This means that Treasury Bills and Bonds will tank and Bennie Bernanke will have to raise interest rates in order to attract dollars back to the Fed, which will kill development in the United States.

I could rant on and on, but you get my point. You are all a failure. You all should resign or declare this to be your last term. We need term limits!!! You all get the nation’s best health care and retirement program, but, in your eyes, the rest of us don’t deserve what you have been given by all of us!!!

Senators Specter, and Casey, and CONgressman Murphy and Altmire, what went on here in Pittsburgh during the G-20 was shameless. The exercise in Martial Law was deplorable. The invasion and lock down of the city by the several thousands of military and paramilitary was disgusting. The actions by the military against US citizens was an assault upon all of us living in and around Pittsburgh and probably immoral, if not illegal. Where is YOUR outcry? Instead, we have officials and corporate representative apologizing for the university student’s actions when Obama needs to be apologizing for his embarrassing remarks dismissing the protesters.

As it has come out, the main action by the G-20 was to turn the IMF into the agent for the world’s currency. The IMF has become the recipient of G-20 funds, which will be used to create a currency called SDR, or Special Drawing Rights. The “IMF Slush Fund” created by the G-20 members will be loaned out to very depressed Third World countries not to improve their economies, but to pay the interest on their loans to the G-20 members, so those poor nations can borrow more principal funds. This is called a Ponzi Scheme, and you are all engaged in it.

We Americans want REAL change NOW! Not later. We want real economic regulation and transparency. No more investment banking handouts or Cash for Trash programs. No more bonuses or raises or big salaries for CEOs that fail a company and the stockholders and bondholders. We all want the Fed audited and a Grand Jury investigation into why the economy went South and who are at fault. Then we want indictments.

We want all the corporations that sent jobs overseas and hired cheap, non-regulated workers to make their cheap stuff, while the corporate headquarters held their profits in off-shore accounts, told to bring all that money back or face indictment for creating a national security crisis.

We want term limits for all of you, and public funding for all campaigns. We want it forbidden for lobbyists and corporations to contribute to a single candidate or official. We no longer want corporations to have the rights of a person.

It is clear that none of you are capable of standing up for the average American worker, nor the dedicated Democrats, progressives and liberals, who were the very voters who swayed the election bringing Obama to the White House and YOU Democrats to Congress.

Your time is up. You have failed to deliver the goods. The economy has been given away and all of you are responsible. We have had enough of the smoke and mirror game playing. Either stand up for workers, or we will send you walking.

Sincerely , Jerry *****


The Pentagon has just sent over 24 IAV Styker armored combat vehicles, made by General Dynamics at a cost of $1.42 million per vehicle. One-third have been decommissioned already due to bomb attacks or maintenance. $34 million has just been spent for these vehicles when suffering working Americans could have used that money to rebuild US manufacturing. But instead, General Dynamics got rich with unsustainable manufacturing. How many more millions are about to be wasted, along with the lives of soldiers, in Afghanistan?


SPECTRE of Deflation said...

Jerry, great piece once again. Both crime syndicates are arm in arm and in lock step regarding stealing our property and liberty. They threatened martial law once already, with TARP, and everything going on now indicates that they intend to make good on the promise that was left unfufilled. I fear for our Republic. Concerning Obama and Biden in the snip below, you could of left that blank so I could of filled it in with Bush and Cheney. By the way, Afghanistan is all about the poppy to the elites. All that slush leveraged by the big boys, and tax free to boot.

"What we have now is a no government government. What is in power is an oligarchy---the financial banking investment crime syndicate. What we have is not a Congress or Executive Branch, but a financial investment corporate board room with bought and paid for board members, called President Obama and Vice President Biden. Then we have the bought and paid for share holders called Congress.

SPECTRE of Deflation said...

Jerry, they are more than willing to shed blood for the poppy.

U.S. troops call Afghan region 'Vietnam without napalm'

By Hal Bernton | McClatchy Newspapers

JELAWUR, Afghanistan — The men of Bravo Company have a bitter description for the irrigated swath of land along the Arghandab River where 10 members of their battalion have been killed and 30 have been wounded since the beginning of August.
"Like Vietnam without the napalm," said Spc. Nicholas Gojekian, 21, of Katy, Texas.
A prime agricultural area of vineyards and pomegranate orchards, the 18-miles of valley that the 1st Battalion, 17th Infantry Regiment patrols includes Taliban insurgents, booby traps and buried explosives. The troops call the area the "green zone," but unlike Iraq, where it's a fortified area in the heart of Baghdad, this green zone can be a hellish place.
The soldiers have one of the toughest tasks in Afghanistan: improving security and winning the support of villagers in an area where the Taliban have been gaining power.
The battalion arrived in southern Afghanistan this summer as part of a brigade of more than 3,800 soldiers from Fort Lewis, Wash. The unit took its heaviest losses in August, when it had the highest casualties in what was the deadliest month so far in America's eight-year war here.
So far, the Army mission here has been an uneasy mix of trying to woo elders with offers of generators, roads and other improvements while fighting a nasty war with an often-unseen enemy.
Bravo Company arrived in Afghanistan with 24 Strykers, the first of the eight-wheeled combat vehicles outfitted with high-tech communications and surveillance gear to arrive in Afghanistan. A third of the vehicles are now out of service due to bomb attacks or maintenance.

carlandjerry said...

SPECTRE, thanks for the snip! I added it to the letter. How unfortunate that the corporate share holders, called Congress are bowing to the corporate elite at General Dynamics and their pals to keep this war going, as well as escalating it.

Thanks for the positive comments, too!!


SPECTRE of Deflation said...

Jerry, here's one of the good guys just in case you have not seen this video:

2009 9-23 TARP on Steroids: Little Timmy Geithner dodges Brad Sherman question

SPECTRE of Deflation said...

Jerry, fugly comes to mind:

Three Government Reports Point to Fiscal Doomsday
by Martin D. Weiss, Ph.D. 10-05-09

SPECTRE of Deflation said...

Jerry, I know you are an advocate for universal healthcare or at least the option of one. My concern has always been that the govt. will overstep it's authority regarding decisions by a patient and his/her doctor. My parents are on Medicare, and I am very worried that they (GOVT.) will target seniors and patients with very serious illnesses, as a means to an end. A couple of bullet points below explain what I am talking about. My prediction is that we will see pure crap for the common man (VA ANYONE?) while the Politburo enjoys all the finest in healthcare at our expense. Just my two cents.

*Even more devastating is the amendment Sen. Maria Cantwell (D-Wash.) got inserted into the bill (revised chairman's mark, pp. 102-3). It gives the Secretary of Health and Human Services the power to define quality, cost-effective care for each medical condition and penalize doctors who spend more on their patients.

*The law establishing Medicare in 1965 barred the federal government from interfering in doctors' treatment decisions. Slowly, Medicare regulations have begun unraveling that protection. Now the Cantwell amendment finishes the job.

*This is the most extreme change to Medicare ever. Dr. David McKalip, a Florida neurosurgeon and a board member of the Florida Medical Association, predicts: "The only doctors left in Medicare will be those willing to ration care and practice cookbook medicine."

It's reasonable for Medicare administrators to strive to get value for dollars spent. In recent years, Medicare has taken a slow, tight-fisted (and sometimes arbitrary) approach to paying for new drugs or medical devices. But Cantwell aims directly at doctors' decisions.

That's not surprising. President Obama and his advisers vilify doctors for over-treating patients. Dr. Ezekiel Emanuel, brother of White House Chief of Staff Rahm Emanuel and a key Obama health-care adviser, argues that the Hippocratic Oath is largely to blame for the "overuse" of medical care. (TORT REFORM ANYONE?)

In his view, doctors focus too much on the needs of their own patients; they should be taught to ask whether the money they're spending on a patient is worth it. To curb doctors' spending, the stimulus legislation launched a process of sending doctors protocols via computer on what the government deems "appropriate" and "cost-effective" care. Doctors who are not "meaningful users" will be punished financially.

When I warned that this meant the government would be interfering in doctors' treatment decisions, CNN and said that was untrue. But Dr. David Blumenthal, appointed in March to head the new system of computer-guided medicine, settled that debate. In the New England Journal of Medicine (April 9), he confirmed that "embedded clinical-decision support" (his term for computers telling doctors what to do) would be used to reduce costs, and he predicted that some doctors might rebel against tight controls.

The Baucus bill completes the framework for tying doctors' hands when treating the elderly.

Gingi said...

I must say that after reading your blog and watching your video, my reaction was "Finally!! someone sees what I see and offers a excellent solution." I am so outraged about all of it. Keep up the excellent work.

SPECTRE of Deflation said...

Jerry, here's a dandy:

8 Shocking Ways the Billionaires Have Schemed to Rob Us of Every Last $

By Mark Ames, eXiled Online. Posted October 8, 2009.

American billionaires keep cooking up scheme after scheme to shake down Americans and plunder the national wealth, as if the last one was too easy and boring.

SPECTRE of Deflation said...

Jerry, as I said yesterday, the Politburo will have the best care our money will buy, while we all get universally terrible care. The idea is great, but I know the thieves of DC and Wall St. will screw the little guy on every occasion to do so.

Mayo unit no longer to accept Medicare
Ginger Rough - Oct. 9, 2009 12:00 AM
The Arizona Republic

One of the Mayo Clinic's two family-medicine practices in Arizona soon will stop accepting Medicare, leaving thousands of patients to pay out of pocket for routine doctor's visits or find a new physician.

The changes, which go into effect Jan. 1, apply only to primary-care services offered at Mayo Clinic Family Medicine-Arrowhead.

Mayo will accept Medicare for critical care and specialty services at its north Phoenix hospital. Lab services, physical therapy and X-rays at the Glendale family-practice office also will continue to be covered.

Hospital officials called the new policy a "two-year pilot program" and said Thursday that the changes are necessary because of low Medicare reimbursement rates.

"This is just a primary-care problem," said Dr. R. Scott Gorman, vice chairman of the executive-operations team at Mayo Clinic of Arizona. "We're trying to look at ways to make it more sustainable."

The family-practice office at 20199 N. 75th Ave. in Glendale lists about 3,000 Medicare patients among its regular clientele. Letters detailing the changes went out this week.

Gorman said Medicare reimbursement rates have remained stagnant over the past decade, while inflation for medical services has increased 4 percent to 8 percent annually.

"Medicare now only covers about half our costs," Gorman said.

The new policy will have a huge financial impact on patients who choose to stay with the practice. According to the letter, Medicare patients who choose to continue with their primary-care doctor will need to pay an annual $250 administrative fee, plus appointment fees of $175 to $400 per visit.

That means a patient who has a physical, plus three additional appointments during a 12-month period, will face annual out-of-pocket costs of about $1,500, according to the letter.

Mayo says it has no plans to expand its pilot program to its north Phoenix hospital, its family-practice center in Scottsdale, or its facilities in Rochester, Minn., and Jacksonville, Fla.

Patients at the Arrowhead practice were provided names of other family-care physicians in their area who accept Medicare, should they choose to switch doctors, Gorman said.

Mayo Clinic warned earlier this year that its operations were struggling. In a March statement, hospital administrators said income from patient care dropped to $205 million in 2008, down from $293 million in 2007. The hospital also estimated unpaid portions of Medicare and other senior programs at $765 million for the year.

Mayo has started a health-policy center and has been advocating reform changes that would shift the health-care system to one that focuses on prevention and wellness.

SPECTRE of Deflation said...

Jerry, of course there is plenty of money for war making if you can even call it war. This is Vietnam without napalm. Keep the poppy crops coming is what I see so that they can launder and leverage their ill gotten profits to the max. The English did this with the Chinese when they were the Empire. Congrats to President Barry for being such a peace loving man. It must be why he's only gonna send 10,000 instead of 40,000. Let us give thanks to our lord. The get together of the G-20 shows how freedom loving he really is.

Barack Obama may send just 10,000 troops to Afghanistan

Speculation is growing that Barack Obama will send only 10,000 extra US troops to Afghanistan, well short of the number requested by his military commander.

SPECTRE of Deflation said...

Jerry, we have nothing but thieves in DC. Tax Evaders in charge of taxing us. The corruption is complete asnd total. Both sides are stealing us blind, but President Barry won a Nobel for his peace loving ways. What a F***ING JOKE!!!!!!!

Rangel Evades Taxing Questions

By Perry Bacon Jr.
Washington Post Staff Writer
Wednesday, October 7, 2009; 8:56 AM

Rep. Charles B. Rangel (D-N.Y.) isn't interested in talking about his tax troubles and the ethical questions they've raised in Congress.

Reporters accosted him Monday as he strolled to the podium for a news conference outside a Manhattan subway station, but Rangel, 79, ducked his head and kept moving.
"Let me thank you all for coming on this beautiful day," he began when it was his turn at the podium to tout the new subway entrance at 96th and Broadway. "And I would hate to see anyone attempt to mar this with questions that are not related to this exciting event."
Everyone obliged, except a guy driving by in his car.
"Charlie, pay your taxes! Come on, Charlie, pay your taxes!" the passerby shouted.
And therein is the challenge facing the chairman of the powerful Ways and Means Committee. No matter how much he may want to avoid discussing the issue-- from his alleged failure to report taxes and assets, including a home in the Dominican Republic, to his questionable use of a rent-controlled N.Y. apartment as a campaign office -- the Rangel ethics problems won't go away. On Wednesday, congressional Republicans will introduce a resolution calling for him to surrender his chairmanship.
No one expects the measure to pass in a Democratic-majority Congress, especially against the legendary Rangel, who has been on Capitol Hill since 1971, is a founder of the Congressional Black Caucus and wields his power with the unapologetic glee of a lawmaker who has spent years fighting for it. But the move signals that the GOP will try to make Rangel a liability for fellow Democrats in the 2010 midterm elections, characterizing any votes supporting him keeping his committee akin to supporting congressional corruption. Democrats in close races could also face demands that they return campaign funds from Rangel.

SPECTRE of Deflation said...

Jerry, these are the people that will fix healthcare?

Barney Frank in 2005: What Housing Bubble?

carlandjerry said...

Hello Spectre,

Thanks for all the article links and snips. It has taken me a few days to get through them. You picked out some very interesting pieces to ponder!!!

I recall under Little Boy Bush the "dead peasant insurance" policies being taken out on workers. Such actions should be illegal. For these "policies" to be considered tax-free is obscene. It reminds me of a credit default swap. A corporation provides health care to the employee, but then bets on his/her death.

Martin Weiss' piece was incredible!! Everyone should read that one!! The bottom line is that Bada Bing Bernanke has placed himself between a rock and a very tight place: if he continues to keep Treasuries at nearly zero percent interest rates, foreign investors will continue to look elsewhere to invest and especially when the dollar gets dumped off the boat as the world's sole reserve currency. Until now, foreign national banks have had to do something with dollars that have been traded for oil and goods, so they buy Treasuries. Because Treasuries don't look so good, they now are buying up shares: partial or full amounts in U.S.banks, financial institutions and corporations.

Bernanke is continuing to monetize the debt in order to mop up Treasuries being sold off now so they don't end up being sold for below market value
just to dump them. The keeps climbing even with this plan.

More than likely, Bernanke will have to raise Treasury interest rates in hopes of attracting foreign investors who left for brighter investment pastures, and then, he will have to pay out higher returns. This will lead to further US monetized debt.

Either way, US debt burden looks bad and dollar will likely sink further lowering wages, tightening consumer belts, and adding to more un/underemployment.

You concern over the scrutinizing of Medicare patient medical care is a concern for many. Listen to the NPR story. Nearly one-third of the medical care provided has not helped people. This amount has reached $600B. Medical procedures need to be reevaluated, at some level.

The 5 year study showed that more care is not always better, but likely worse because in high spending areas of the country, too many doctors dirty up the patient's care pot. Survival rates in low spending areas resulted in just as good or better outcomes for patients.

I know people sneer at single payer systems, but I believe that if our provider(s) were not-for-profit, and the government held all the drug patents and the drug manufacturers only made the stuff, our costs would dramatically drop. For-profit insurance companies spend 33% on non-medical costs.

Spectre--thanks again for though-provoking pieces. You have greatly added to the discussion that occurs on this blogspot!!!


SPECTRE of Deflation said...

Jerry, I have not listened to your latest blog post yet, but I promise to do so this weekend. I guess what makes me the most irate is the fact that there is so much that can be done right now. Stop the monopoly of the drug companies. Allow our citizens to import meds from Canada where meds are so much cheaper. This could be done tomorrow. My mom has osteo-arthritis in her knees, and they will pay for total replacement of both knees, yet won't pay for a scooter which is at most 1/10th the price of the surgeries. Is there anyone in DC with a brain?

I guarantee that if you took average citizens instead of our career clowns in DC, we could fix many of these problems because we haven't been bought off.

Looking at state budgets for their current fiscal year, they are in at least as bad a shape as last year, if not worse. Where does the money come from for Medicaid when local, state and federal receipts are down down 10, 20 and even 30 percent YOY?

Lastly, until we get meaningful tort reform, I don't see doctors doing anything differently so as to cover their own arses which is understandable in our sue for any reason society.

Once again Jerry, thanks for allowing myself and others to express our opinions in a forum that is respectful of all views. Your site is one of the few that allows this conversation without insults from both sides and a belief that understanding comes from dialogue. We would be much better off in stopping the thieves
if all sites were as good and fair as yours. Again, you are a gentleman of the highest order by your actions and fairness to all.

Very rare indeed my friend!

carlandjerry said...

Spectre, thank you for your kind words, and all the feelings are returned. Thanks for being a part of this, as well as everyone else!!

kindly, jerry

SPECTRE of Deflation said...

Jerry, this is where I believe we are headed with State Run Healthcare. Elderly folks in this country are right to fear any system that takes away their right to decide on their own healthcare decisions with their own doctor. It doesn't mean they get carte blanche' with the cost of their healthcare, they don't get that now, but it does mean that that the sick,their families and their personal doctors decide when to make end of life decisions. Not an arbitrary board of any kind.

AN 80-year-old grandmother who doctors identified as terminally ill and left to starve to death has recovered after her outraged daughter intervened.
Hazel Fenton, from East Sussex, is alive nine months after medics ruled she had only days to live, withdrew her antibiotics and denied her artificial feeding. The former school matron had been placed on a controversial care plan intended to ease the last days of dying patients.
Doctors say Fenton is an example of patients who have been condemned to death on the Liverpool care pathway plan. They argue that while it is suitable for patients who do have only days to live, it is being used more widely in the NHS, denying treatment to elderly patients who are not dying.
Fenton’s daughter, Christine Ball, who had been looking after her mother before she was admitted to the Conquest hospital in Hastings, East Sussex, on January 11, says she had to fight hospital staff for weeks before her mother was taken off the plan and given artificial feeding.

Doctors say EU working week is killing patients
Families 'kept in dark' by doctors over dying

carlandjerry said...

Hello Spectre, Again I appreciate your input, comments and opinions. Without sensible debate and discussion, such as what you offer, there is no society worth continuing!

I read about the EU end-of-life debacle regarding the lack of family and patient input with dying patients. I believe there are a few law suits currently over these unilateral medical decisions by so-called professions.

I totally understand how difficult it can be to get "medical appliances" such as scooters for patients, such as the type your mom may need to remain independent. In Toronto, Ontario, Canada, my aunt had double knee replacements close together with no cost to her. Her therapy was at no cost. Now, she is doing great and feels better than before it all went down. She had to wait a few months, but her problem was not a rush job. She could wait.

In the US, such surgeries are costing patients more and more because of increased premium and deductible costs, while one's income is declining. People are having to put off or decline these surgeries because of the costs. Often the choices are between living expenses and medical decisions. Therefore, the quality of life declines, whereby such people are unable to be as productive increasing the overall costs to the society-at-large. It is becoming a society of haves and have nots.

I continue to return to what I feel is the best public option and that is single payer health care.

I believe that if the government took over drug research, the biggest expense built into the cost of drugs would be eliminated. In addition, there would be no need for advertising costs, since all the drug makers would be doing is producing the medicine. If we had single payer, the 33% in non-medical costs generated by insurance companies would drop to less than 10%. Insurance providers would no longer need to advertise. Doctors would no longer need paper pushers in each and every office and practice, which adds a significant amount to the costs.

Single payer would cost the nation less than what we are paying today. Not-for-profit health care is the only solution, but, of course, it won't happen because the goal of this government is to in-debt average Americans.


SPECTRE of Deflation said...

Jerry, they better take down all the YouTube videos of the non-use. Lying seems to be the order of the day in all things govt.!

Pittsburgh Police Deny G-20 'Sound Cannon' Allegations
LRAD Demonstration Shows How Device Works

SPECTRE of Deflation said...

Until they do something about prescription drugs, which is one of the easier things to fix, they are blowing smoke up our arses. Bread and circus for the sheeple!!

My parents are living proof they can give a rat's ass concerning the elderly. Let's see should we eat, or maybe buy our prescriptions
and do without?

No prescription fix and no tort reform shows the blowhard pencil d***ed politicians are more full of shit than a stuffed Christmas Turkey. The Drug industry has them in their pocket and so do the lawyers. Guess who is the largest single donor, as a group, that gives to the Democratic Party? The ABA ring any bells?

Just keep pushing the little man elites. Yours is coming!!

SPECTRE of Deflation said...

Jerry, this is from Karl Denninger who I consider to be very level headed and way smarter than the A-HOLES of DC. When I see Karl talking about this subject, I perk up because he's not one to blow smoke.

To The States: Should We Talk About Secession?

I'm going to go back to this quote by Barney Frank of the US House, because it says everything those in state and local governments need to know:

Barney Frank, the Massachusetts Democrat who is chairman of the House Financial Services Committee, said in an interview that the defaults were, in essence, worth it.

“I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling too fast. That’s a policy.”

Got it? It's a policy to screw the state and local governments.

Huh, you say? It's simple, really: State and local governments rely on property tax revenues. Yet defaulted mortgages don't pay property taxes. Yes, there's a lien on the property but this doesn't help the municipal budget now.

And suffer they are:

Tax revenues used to pay teachers and fuel police cars continue to trail even the most pessimistic expectations, despite the cash from the economic stimulus plan pouring into state coffers.

"It's crazy. It's really just unbelievable," said Scott Pattison, executive director of the National Association of State Budget Officers, and called the states' revenue situations "close to unprecedented."

These shortfalls are a direct consequence of the intentional action of not only refusing to prosecute financial fraud and the making of unsound loans for years, but of continuing the game-playing even now as an official federal government policy.

SPECTRE of Deflation said...

Jerry, one thing I will say in favor of the drug companies is that they have saved the lives of millions, rather tens of millions with their drugs. Malaria alone would account for God knows how many lives saved. Polio, Mumps, Chicken get the idea.

They have developed these druga at great expense, and getting greater all the time, so who has paid the bill? I would argue that America has been damn philanthropic to the rest of the world for shouldering the majority of the cost of all these micacle drugs. We have subsidized their low pricing for drugs with high pricing for ourselves with nary a whimper.

This practice must stop, and a more equitable pricing structure be developed for all countries who after all share in the bounty of the harvest. In this way we get the funding needed for future advancement while giving everyone an equal load to carry.

As I like to say, "it's always about the money, and someone always pays".

SPECTRE of Deflation said...

Great Depression Tent Cities in the US 2009

carlandjerry said...

Spectre, Hi!

I had watched that video in the summer and was saddened by such a fall from grace.

Here is my latest Youtube, which I have not yet posted on the blogspot.

If you want to see a disturbing living environment, check this link out:

Storm Sewer Dwellers in Las Vegas:


SPECTRE of Deflation said...

Jerry, here's Karl explaining exponential math to those who have no idea of it's power. Man, we are really, really screwed!!

The Raja agreed, and shortly discovered the magic of exponents, much to his chagrin.

On the first day, he gave 1 grain of rice.
On the second, two.
On the third, four.
On the fourth, eight.
On the fifth, sixteen.
On the sixth, thirty-two.
On the seventh, sixty-four.
On the eight, 128.
On the ninth, 256.
On the 10th, 512.
On the 11th, 1024.
On the 12th, 2048.
On the 13th, 4096 (it was now taking a while to count!)
On the 14th, 8192
On the 15th, 16,384 (The Raja now knew he was in trouble)
On the 16th, 32,768
On the 17th, 65,536
On the 18th, 131,072
On the 19th, 262,144
On the 20th, 524,288
On the 21st, 1,048,576
On the 22nd, 2,097,152
On the 23rd, 4,194,304
On the 24th, 8,388,608
On the 25th, 16,777,216
On the 26th, 33,554,432
On the 27th, 67,108,864
On the 28th, 134,217,728
On the 29th, 268,435,456
And on the 30th, 536,870,912

Needless to say before the 30th day the village was quite-well fed and the Raja was the one who went hungry.

But I want you to pay special attention to the above table, which is why I reproduced it all - most renditions of this story do not.

Notice that on the 29th day the girl was due more rice than had been paid to her in all of the previous 28 days. This is also true for each day in the series - a fact that you need to think about for however long it takes to sink in.

This is the fundamental truth of all exponential (or "power") functions. It is a mathematical truth, not a theory or possibility.

SPECTRE of Deflation said...

Jerry, meanwhile we are quietly sending another 13,000 support troops to Poppy-stan where their personal weapons may or may not work. This at the same time as tent cities are popping up across all of America with 56% unemployment in the age group 18 to 24 year olds. If they aren't working, who funds the Baby Boomers in retirement? This is why SS will run a deficit for the current fiscal year which is much earlier than anyone thought possible. CA is in the red again 10weeks into their new budget. I could list countless states in the same shape, but I know you know the story in full. Prepare for impact folks. Your families are/will be depending on you.

carlandjerry said...

Hi Specter,

A couple responses: if it were not for the Intitutes of Health grants to universities, hospitals and research facilities, the drug research that has made the drug companies super powerful and rich would not have been able to happen so successfully. The childhood illnesses were all researched and studied through our government agencies.

The "governator" of California is not forward thinking. He is not examining why the State of North Dakota's budget is balanced. I do believe Arnie is incompetent as a public official. He has some sort of neo-con agenda that has yet to fully unfold. It may be to put further people in his state into a lower standard of living so they borrow more money from their credit cards stimulating the big banks in his state.

Here is the new Obama-Bernanke-Geithner strategy: They will let the dollar fall to unseen lows. This will wipe not only the US debt off the slate, but most Americans, as well.

Obama appears to not really care about those who voted him into office. He is willing to throw the taxpaying consumer over the ship's rail so the banking financial crime syndicate can wear all the life preservers. With the dollar sinking more and more, their toxic debt obligations to foreigners will end up being minimal in their notional values.

Elizabeth Warren-chairperson of the TARP Oversight Committee sums it up well in this Washington Post interview: