Finally. A voice of reason!

Bloomberg Ridicules Washington On Economy

'Cash Rebates Like Booze For Alcoholics'

U.S.Resembling A 'Third-World Country'

NEW YORK (CBS/AP) ? Mayor Michael Bloomberg has unleashed another flurry of jabs on Washington, ridiculing the federal government's rebate checks as being "like giving a drink to an alcoholic" on Thursday, and said the presidential candidates are looking for easy solutions to complex economic problems.

The billionaire and potential independent presidential candidate also said the nation "has a balance sheet that's starting to look more and more like a third-world country."

President Bush signed legislation Wednesday that will result in cash rebates ranging from $300 to $1,200 for more than 130 million people.

The federal checks are the centerpiece of the government's emergency effort to stimulate the economy, under the theory that most people will spend the money right away.

But Bloomberg does not believe it will do much good. And his harsh words at a news conference Thursday reflect the view among some of his associates that the country's economic woes present a unique opportunity for him to launch a third-party bid for the White House.

The theory among those urging him to run for president is that a businessman who rose from Wall Street to build his own financial information empire might be particularly appealing as the fiscal crisis worsens.

Publicly, Bloomberg says he is "not a candidate," and explained recently he is speaking out on national issues as part of an "experiment" to influence the dialogue in the race.

His tirade against the candidates and the economic stimulus package on Thursday began when he was asked how that experiment is going.

In his answer, he praised Democrat Barack Obama for the plan the Illinois senator outlined on Wednesday that would create a National Infrastructure Reinvestment Bank to rebuild highways, bridges, airports and other public projects. Obama projects it could generate nearly 2 million jobs.

Last month, Bloomberg and Govs. Arnold Schwarzenegger of California and Ed Rendell of Pennsylvania announced a coalition that would urge more investment in infrastructure.

"I don't know whether Senator Obama looked to see what I've been advocating, or not -- you'll have to ask him -- but he's doing the right thing," Bloomberg said.

But then the mayor went on to say that while the presidential candidates appear to be talking more about the economy now, they are looking for quick fixes to please voters instead of focusing on the roots of the problem.

"Nobody wants to sit there and say, 'Well there's no easy solution,"' Bloomberg said. "They want to send out a check to everybody to stimulate the economy. I suppose it won't hurt the economy but it's in many senses like giving a drink to an alcoholic."

A spokesman for the mayor said later that Bloomberg was trying to say Washington can't stop itself from spending, and was not insinuating that Americans who receive checks are part of the problem.

The mayor last month said the economic stimulus package was shortsighted, and presented his own views on where the federal government should be focusing its attention. Specifically, he said the government should adopt a capital budget to oversee long-term infrastructure spending, instead of the current year-to-year spending.

It should also offer financial counseling, modified loans, and in some cases, subsidized loans to homeowners who find themselves unable to afford their mortgages.

He says that the government should also think differently about immigration, and that bringing more workers in rather than keeping them out is the key to long term economic stability.

http://wcbstv.com/campaign08/bloomberg.federal.government.2.654315.html

(© 2008 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Ben Bernanke told Congress the obvious earlier today. What did he tell them? The economy is in danger because people bought subprime loans.

What's a subprime loan? It's a loan for people with shitty credit. Basically, these people allowed their emotions to override reason. "Gee I can buy a house? With no money down? My monthly payment will be $650? Hell, my take home is $800. I can pay for that! Where do I sign?"

Several months later the banks increase the interest rate. Now the payments double. People defaulted on their loans. Hence the economic meltdown.

Bernanke said "The outlook for the economy has worsened in recent months and the downside risks to growth have increased," Bernanke told the committee. "To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so."

The Fed chief told senators the "virtual shutdown" of the market for subprime mortgages given to people with blemished credit histories or low incomes -- and a reluctance by skittish lenders to make "jumbo" home loans exceeding $417,000 -- have aggravated problems in the housing market. "Further cuts in homebuilding and in related activities are likely," he said. (yahoo finance)

What? Banks won't lend $417,000 because the losers they lent to are broke? Imagine that.

Bernanke said that in his own economic forecast he did not predict a recession but a period of sluggish growth "followed by a somewhat stronger pace of growth starting later this year" as the impacts of the Fed's rate cuts and the $168 billion economic stimulus package of tax rebates begin to be felt.

However, he also said there were significant downside risks ranging from the threat that the housing slide could become even more severe, the job market could deteriorate more than currently expected or that the credit squeeze will intensify. He said the Fed would be monitoring the economy closely and would "act in a timely manner as needed to support growth and provide adequate insurance against downside risks."

The man with direct control over our economy said that. Guess what happened? Stocks dropped again.

Economists now think the Fed will cut rates again in March 18th and April 30th by 1.25 points.

Bernanke and some other guys said the economic placebo cash will save the economy from recession. The first checks will fly out in May.

The Fed will press mortgage lenders to give a 30 day grace period for people seriously behind in payments. The bankers were also asked to freeze interest rates.

Here's where things get stupid.

Democrats want more.

But a group of Senate Democrats said those efforts fell far short of what is needed. They announced outside of the hearing that they were introducing a second stimulus measure that would have a variety of initiatives to help stem foreclosures including providing $4 billion in new community development grants to purchase and rehabilitate foreclosed properties.

"If we really want to tackle the economic problems the country is facing, we must address the housing crisis that got us here," said Sen. Charles Schumer, D-N.Y., a supporter of the new stimulus measures.

Tackle the issue by throwing money at it. Don't educate people. Provide government loans/grants for them. Why empower people with independence through knowledge, when you can make them dependent by ignorance? Oh well. People mess up. Government steps in to clean it up.

Can't pay for your house? It's not YOUR fault. What will the federal government do for ME?

Senate Banking Committee Chairman Chris Dodd, D-Conn., told reporters after the hearing that he planned to explore a proposal to create a Homeownership Preservation Corp. that would buy mortgages at steep discounts from mortgage firms and banks and then rework the loans based on the reduced value of the properties, making the payments more manageable. (http://biz.yahoo.com/ap/080214/congress_recession_threat.html?.v=28)

What he means is government will buy the loans from banks. Then they'll loan it out to the public. Sounds good eh? I'm not so sure. Do you remember the student loan scandals of 2007 to present? Giant lenders getting jacked-up interest rates from sweetheart college loan deals. College administrators and politicians getting what looks like kickbacks. And the average citizen is left with the bill.

Economic classes in elementary school? Critical thinking classes in high school? Hell no. People don't need to learn to think for themselves. They need to be herded.

Sheep will continue to spend more money than they earn. However, I can't blame them; not entirely. Where did the herd learn such behaviour? They learned from government. Tax, spend and borrow. Save? Never.

In the end Bernanke and government will succeed in providing a short-term solution to a long-term problem. The lesser problem is the subprime crisis.

The greater problem is the ignorance of our countrymen.

I forgot to mention the subprime meltdown cost the global market $7.7 TRILLION in stock market value since October (according to Joseph Quinlan, chief market strategist for Bank of America). (www.breitbart.com)

Yay.

Dub'ya signed a bill giving us $300-$1200 of our own money. In order to get the money you need to file a 2007 tax return. You need a social security number. Great. No argument from me.

Tax breaks for business owners? Sounds wise. Tax breaks for those dumbasses who bought homes they couldn't afford? Bush and Congress are losing me. Giving my tax money to people whom earn so little money they didn't pay tax? I'm lost.

Yes I know. "Jayson don't you care about veterans and old people?" Naturally. I care that our representatives create responsible legislation to protect the needs and interests of such groups. I want the federal government to stop fucking our veterans and provide the benefits and thereapy earned by defending our republic. I want the elderly to receive every dollar they contributed during their years in the workkforce.

However, I do not want my money freely given to children. I do not want my money given to people whom choose to work part-time. Bag boys? No money. Waiters? No money. If you choose to work in a job which pays under $3000, you do NOT deserve my money.

I work 40+ hours a week. Throughout that year the state and federal government takes my money. At the end of the year I owe more money.

Now the government is telling me it's justifiable for some bastard to work five hours a week, go to their mom's basement, and play nintendo? What the fuck? Here you go loser. Here's some money.

No, I'm the loser. Why work when I can collect handouts? Wellfare, here I come!

The idea is to get people to spend. The government hopes the money will burn a hole in our pockets and make us buy flat screen televisions.

Why is the national deficit so high? Why are so many people in debt? Irresponsible spending. The economic placebo package will cost $168 billion. The government will borrow this money. THEY WILL BORROW MONEY....TO GIVE US MONEY.....WE ALREADY GAVE THEM....TO SPEND AGAIN!

Great. The economy tanked because morons bought houses without educating themselves prior. Bankers, the greedy bastards they are (of course a free-market economy cannot survive without some greed), took advantage of the dumbasses.

No money down! Sign today! You too can become a home owner!!

Then the interest rates rose. Payments doubled. Houses were foreclosed.

Instead of aid in the form of education and refinancing, the bankers took the property. Of course the property was useless to them. Why? They wanted to sell at or above perceived market value. There are seven home sellers for every buyer. Who in the hell are the bankers trying to fool?

Most likely themselves.

Instead of the Fed lobbying for education and refinacing from banks, they drop interest rates twice (which is good in some ways, but that's ALL they did). Instead of lobbying for state level education for home owners, the federal governemnt is handling the problem the way they have for decades. They spend tax dollars.

You are still knee deep in debt. But you'll be knee deep in debt, with a new television.

RFID (radio-frequency identification) is a technology used to track and monitor anything from wallets to jeans to dogs to passports.

There is a proposal in the United Kingdom to implant RFID chips in its prisoners to free over-crowded prisons. In America, this measure is already implemented.

According to Verichip Corp., 2000 chips have been sold to implant in humans. Presently this technology is used for mainly medical uses. Alzeimer patients and 400 others have the chip implant.

Some of Verichip's customers are using the chip for security. Since the technology currently works short range, it can be used as a high-tech key. In 2006, CityWatcher required its employees to have the implant.

In 2004 The FDA approved a measure by Applied Digital Solutions to chip people with RFID implants.

Wisconsin state Rep. Marlin Schneider (D) said ""I had heard about this device from CNN or someplace, and I went into the office and said, 'Get a bill drafted that prohibits this,'" he said. "This is beyond even what Orwell imagined." (http://www.globalresearch.ca/index.php?c..va&aid=7781)

In 2006 Wisconsin law forbade the forceful implanting of these chips in people.
The ban begins on Wednesday, when legislation signed on May 30 by Gov. James Doyle goes into effect. The act dictates that no person may force another to have a microchip implanted in his body. Violators face fines of $10,000 each day until the chip is removed.(www.computerworld.com)

The following has me concerned. I copied and pasted from (http://www.globalresearch.ca/index.php?c..va&aid=7781).

How low-tech are these homemade readers?

Determined to show the security flaws to skeptics in the Legislature, Senator Joe Simitian (D-Ca.) asked a tech-savvy grad student from his office to build one. The student then wandered the state Capitol one afternoon with the reader in his briefcase. In the process, he stole the security numbers of nine representatives. The reader could send out any of those numbers, getting him past any locked door a state senator would have access to. And he would appear as the senator in the electronic records.

To add insult to injury, these implants may cause health risks. According to Associated Press the technology could be traced to cancer in lab mice and rats. Dogs seem to be fine, however, some scientists question the FDA's approval of implanting chips into humans.

Why would the FDA approve of implanting these chips into people? Call me a pessimist, but I suspect money is involved.

In any event, the Governator didn't support this invasive measure. He signed a bill that forbid the forced implanting of RFID tech into workers. The mandate went into effect January 1, 2008. http://www.npr.org/templates/story/story.php?storyId=17762244

North Dakota also banned the illicit use of RFID surgical implants.

As of now some U.S. prisons are using RFID tag-based monitoring involving wrist bands. Minnesota's Department of Corrections introduced a $500,000 RFID system for a prison.
http://www.govpro.com/News/Article/68532/

What do your representatives think about this issue? What do you think about it?

"........Cruelty and injustice, intolerance and oppression. And where once you had the freedom to object, to think and speak as you saw fit, you now have censors and systems of surveillance coercing your conformity and soliciting your submission. How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror......."
V


In 2005 the Real ID Act, or as it began H.R. 415 and later H.R. 418, was passed in the House of Representatives. The Real ID Act will grant additional power to the monster known as Homeland Security (I will examine H.R 5005 in increments in the future). Basically highly detailed information about American citizens such as social security number, physical characteristics, etc. will be compiled into a data base. How is this different from a driver's license? Without the Real Act identification, citizens will be unable to open a bank account, ride an airplane, train, bus, or enter a federal building. In other words, our current methods of identification will become obsolete. To do things we ALREADY DO, we'll have to comply and get the Real ID. Each state will be required to link it's motor vehicle database with all other states. The DMV will become agents of the federal government. http://thomas.loc.gov/cgi-bin/bdquery/z?d109:h.r.00418:

By the way, the cost is estimated around $80 to 100 million of state funds.

The new ID card will cost more than driver's licenses. More revenue for the government, I suppose.

The bill was initially voted down. Then it was added onto the 2005 Emergency Supplemental Appropriations for Defense, the Global War on Terror and Tsunami Relief. What congressperson would vote against money for our soldiers and tsunami relief?

Naturally the states could refuse to play ball. However, its citizens could not receive social security or travel. Non compliance could keep state citizens from obtaining jobs.

Here's a list of states opposing the Real Act: Arkansas, Colorado, Georgia, Hawaii, Idaho, Illinois, Michigan, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Oklahoma. South Carolina, Tennessee, and Washington have joined Maine and Utah. Unfortunately these are non-binding resolutions and not the law. The decision is left to our governors (Wikipedia).

Governors such as Sonny Perdue. People whom believe the solution to a drought is to beg an all-powerful white man that lives in the sky.......for rain. Nice. Don't forget your knee pads Sonny. At least he believes in SOME degree of liberty. (He's against the Real ID Act, but won't allow Georgians to buy adult beverages on Sunday.)

Speaking of theists, here's what Mike Huckabee said September 26, 2007. At least he got one of his positions right.

"There have been some things in this particular administration that have been troubling to me. I'm certainly a 10th Amendment guy. I'm a federalist at heart. I think Jefferson was right and Hamilton was wrong. And at times this administration seems to have become Hamiltonian and not Jeffersonian. For example, with REAL ID, that's a huge mistake. It's putting a burden on a state that should not be the state's function, which is to provide the frontline of national security defense at the hands of a DMV worker at a state office. That's absurd. And then not funding it. That's a real problem. If you're going to have federal program then the feds ought to pay for it." (www.news.yahoo.com)

Similar resolutions are pending in Alaska, Arizona, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Vermont, Washington, D.C., West Virginia, Wisconsin, and Wyoming (Wikipedia).

California and North Carolina appear to support the Real ID Act.

Homeland Security is bribing states with $79.8 million to "assist with Real Act implementations." This action was announced by big brother on January 29, 2008 (Fox News, January 11, 2008).

My next blog will examine RFID implants.

Dub'ya said Sunday there's no doubt (in what passes for his mind) John "Madman" Mccain is a true conservative. Here's what he said "I know his convictions. I know the principles that drive him," Bush said in an interview with Fox News Sunday, adding, "Look, he's very strong on national defense. He's tough fiscally. He believes that tax cuts ought to be permanent. He's pro-life. I mean…his principles are sound and solid as far as I'm concerned." (www.thehill.com)

Okay. A true conservative is fiscally conservative. Bush has a great history on fiscal conservatism. Right?

Wrong. Here's Bush's record on spending:Since 2001, even with record low inflation, U.S. federal spending has increased by a massive 28.8% (19.7% in real dollars)—with non-defense discretionary growth of 35.7% (25.3% in real dollars)—the highest rate of federal government growth since the presidencies of Richard Nixon and Lyndon Johnson. This increase has resulted in the largest budget deficits in U.S. history, an estimated $520 billion in fiscal year 2004 alone. Furthermore, the projected spending for 2005 is a conservative estimate, since it doesn't include at least $50 billion for the cost of the Iraq occupation (www.independent.org)

Here's Mccain on economics. He voted against the Bush tax cuts in 2001 and 2003. He voted for them in 2006 (as did "If you elect me I'll repeal Bush's tax cuts and I don't support the war I voted for" Clinton). Mccain (although he later refuted the statement) admitted in an interview McCain gave to the Wall Street Journal in 2005 in which he said, "I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated." (www.politifact.com).

With regard to tax cuts, Mccain pulled a "flip-flopping" Romney. He's against them in one moment, then he wants to make them permanent. Unlike Hillary, whom Mccain accused of spending $500 million in pork; which is a falsehood. The actual bill for Senator Clinton's seven years in office is closer to $2.2 billion as of December 2007. However, I digress.

To be fair, he voted consistently with regard to pork/earmark spending. But that's about it. He wants to keep the death tax on life support.

The death tax is basically a tax that occurs after an individual's death. It can affect inheritance of property and businesses. If one was to inherit property worth a certain amount, Uncle Sam gets his cut. If you cannot afford this amount (in some cases in the millions), tough luck. Forfeit the property.

John repeatedly voted in favor of the tax during Senate sessions. Of course his legislation would mostly tax the "wealthy few." What constitutes wealth? Basically anyone making between Bill Gates money and a micromanager at T.J. Max.

Let's ignore the fact that the top 1% employ most of the country and pay 19% of taxes. Fine. The greedy few can afford more taxation. Take their property and give it to the masses. The government knows best. Of course the economy will tank, job growth will stagnate, and those with jobs will face unemployment.

Wait a second, I thought this was a socialist/communist attitude? This can't be fiscal conservatism. According to Dub'ya it is.

Ummmm, Mccain is strong on defense? Here's an idea. Lets have 737 bases overseas in countries that don't want us there, meddling in affairs that have shit to do with us. Then let's spend and borrow like maniacs and weaken the dollar to the point of irrelevence. NOW let's have weak legislation on border control. That's not enough. We ALSO need to close various bases in America and kill local economies in the process. Thanks Congress. Is John responsible for this? Not entirely. Has he done anything constructive about it while in the Senate? Not at all.

Mccain said you can't have a strong national defense with a weak economy. How can he protect our nation if he missed all eight votes in the Senate this year? He was at the airport during a vote on the economic placebo bill. He had the option for a police escort. He turned it down. Nice work ethic.

Don't get me started on the Mexican/U.S border fence legislation. Do you think a twenty-foot fence will keep illegals out? I have news for you. My grandmother has a fence surrounding her home. The fence didn't stop the local dilenquents from picking apples from her tree. I suppose Congress thinks Mexicans can't climb. Or walk around it. The border only covers 2000 miles......

So far I am unimpressed with John's so called conservatism. And shut up Dub'ya.

"National character is only another name for the particular form which the littleness, perversity and baseness of mankind take in every country. Every nation mocks at other nations, and all are right."
Arthur Schopenhauer

After a long winded rant with my girlfriend via email, I realized the need to exorcize political demons from my mind. Perhaps this will save my descendants from years of hospital bills after my brain aneurysm. At the least it will lesson conniptions.

Yes, I know. Hope springs eternal.

Hence the creation of this blog.