"The cart before the horse" is a quote, which is often used, such to describe the European Union (EU).
The moniker is based upon the hard fact: the EU is an economic union, which is not being supported,, by a political union.
The EU's central bank does generate monetary policy, as said policy is applying, for the member nations.
However, the fiscal policy is not determined, by the central bank. Each sovereign nation, within the EU membership, is establishing, a stand alone fiscal policy, which is applicable for the defining nation, only.
Now, with sovereign default afoot in Greece, and sovereign default pending, in Italy, Portugal and Spain, the calamity of the inconsistent fiscal policies clashing, with the consistent monetary policy does present.
Indeed, the bylaws, which are governing the EU, do specify, financial "bailout," of a defaulting, member nation, is not within the province, of other member nations.
Regarding, the financial bailout of one nation, by another nation, this quote does, perhaps, serve as a prognosticator of what does happen, if such bailout procedures persist:
"If core sovereigns such as the U.S., Germany, U.K., and Japan 'absorb' more and more credit risk, then the credit spreads and yields of these sovereigns should look more and more like the markets that they guarantee. The Kings, in other words, in the process of increasingly shedding their clothes, begin to look more and more like their subjects. Kings and serfs begin to share the same castle."
This quote is provided, by PIMCO Chief Investment Officer, Bill Gross
Hopefully, USA citizens are not enduring, a replay, of these situations, directly.
However, some sources are skeptical, such that municipal bonds, which are forthcoming, from cities and states, within the USA, are constituting, as sound investments.
Cities and states are funding, municipal workers’ pension plans, via the issuance, of massive debt obligations.
The workers are continuing, such to become older and are drawing, from these aforementioned pension funds.
The possibility, of a crises, in the near future, is presenting.
States and municipalities are not being empowered, such to print money; this empowerment is vested, solely, within the USA federal government.
The questions:
1. Will local governments have need for a “bailout,” which is supplied, from the federal government, courtesy, of the taxpayers?
2. Will local services, as supplied, from the states and from the municipalities, be reduced, thus inflicting suffering, upon the citizens?
3. Will the amounts of state taxes and local taxes, which are being paid, by the citizens, be increased?
As always, we are remembering: as a bond's price does decrease; a bond's yield does increase; as a bond's price does increase; a bond's yield does decrease.
What is a boomer, to do? Are municipals ceasing, as a safe haven?
Adding to the mix, the federal income tax rules are scheduled, for profound change.
Changes are commencing, during the year 2011
1.Tax rates will rise substantially, as the top bracket jumps back to 39.9% in 2011. Currently, during 2010, rates max out at 35%. 7nbspTHIS IS A GOOD THING!
2. Low-income taxpayers will see the 10-percent tax bracket disappear, and they will have to pay taxes at the 15-percent rate. THIS IS A BAD THING!
3. Married taxpayers will see the marriage penalty return. THIS IS A GOOD THING!
4. Taxpayers with children will lose 50 percent of their child tax credits. THIS IS A GOOD THING!
5. Federal death taxes will come back to life in 2011, after fading down to nothing in 2010.
THIS IS A VERY GOOD THING!
Once again, the Baby Boomer News does, respectively, suggest, such that boomers are contacting, their elected representatives to the USA Congress.
The message: increase the employers' contributions' percentages, into SSA.
The citizens are not, with any measure of successes, funding, their respective, individual retirements, via the “investments” routes.
Forget about the crap: the mutual funds; the 401’s; the IRA’s; the Keoghs; the whatevers.
These are all shams, whichm over time, benefit, only, the plans’ sponsors and administrators.
If, state and local governments, inbued with taxing powers, are not competent, such to fund retirements, how does one expect individuals to fund retirements?
Social Security is, without question, the most successful federal program, for citizens, which is presenting, during any time period.
Fund SSA, via increased employer contributions. In addition, levy taxes, separate and apart, from the employer withholdings, upon all businesses. These tax revenues are supprtring, Social Security.
Strengthen Social Security.
Social Security does have the potential, such to fullfill the needs of all the citizens; all the times.
Projected Total Of Annusal Deficits: 2010 Through 2020=$7,400,000,000,000!
Time And Place For Honesty Winston Chruchhill Style?
The ongoing saga, which is revealing, the intricacies associated, with the "runaway" Toyotas' accelerator systems miscues, is revealing, new knowledge and is revealing, some previous knowledge, which is, apparently, forgotten, in today’s universe.
The revelations are spurring, many random thoughts and random observations, within the Baby Boomer News' consciousness state.
Some revelations examples:
1. Today, February 3, 2010, sources are revealing: Ray LaHood, Secretary of Transportation, is stating, such that USA citizens, who are the owner of afflicted Toyota vehicles, are, correctly, not driving, said vehicles, before the accelerator systems' miscues are being corrected.
Secretary La Hood is making, this remark before a House of Representatives' appropriations committee.
Later, during a news conference, LaHood is attempting, such to minimize the impact, of this comment.
Well, maybe, however, we are remembering, the Bama Boy administration is providing, quick and easy, in and out, bankruptcy protection, for General Motors and Chrysler.
In addition, USA taxpayer's are providing, financial support, for the two down and out auto manufacturers.
How better, such to help, these beneficiaries, than trashing the competition, via fear mongering.
2. The appearance is: USA drivers are lacking, in basic driving skills, which are, once upon a time, being included, in each driver's basic knowledge set.
Specifically, turning the ignition to the off position and / or disengaging, the drive train, via placing the transmission into neutral, are tried and true methods, which are applicable as a vehicle is becoming out of control, on a slippery road or is becoming a "runaway" as is the situation, when the speed of the vehicle is not being controllable, by the driver.
Toyota owners are having need, such to be reminded, of these well founded safety measures, via recent news articles.
3. The USA Department of Transportation is asking, Toyota: are failures, within the vehicles' onboard electronic systems, the true cause for the accelerator systems’ miscues?
As always, we are remembering; sourcing components, from third world vendors, is a different paradigm, than is sourcing, from North America and Europe based vendors.
When sourcing, from the third world, which does include, the middle empire, the merchandise is being purchased, with low prices per item at the forefront. Unfortunately, there is a trade off involved. Within this paradigm; the quality of the individual items, is varying from one example to another. The net result: only some portion, of the purchased items, is being suitable for inclusion, into the finished product.
Daimler-Benz, it is believed, is learning, as they are out sourcing electronic components world wide. The usability, of the components being purchased, via world wide outsourcing, is not matching, the usability, of the components, which are being sourced, from family owned enterprises, which are situated, within Germany.
Apparently, the same sourcing rules, as applied for suitability for purpose, are existing, as a major Asian nation is purchasing, from the third world suppliers.
4. Mr. LaHood is revealing: Dept of Transportation employees are traveling, into Japan, via air.
.Reminding, the Toyota company, of the company's legal obligations is the purpose, for this trip.
Mr. La Hood does state, Toyota is not initiating, the auto recalls, before this trip’s conclusion. Mr. LaHood does present, as believing: the recall is not being initiated, without this additional pressure, from the USA Dept of Transportation.
So, what else is new? We, the USA citizens, are never forgetting; the rights and welfare, of the individual, are not paramount, in the third world nor are these considerations paramount, within the, more significant, Asian nations. New York Times: Stop Driving Recalled Toyotas
Social networking sites are very popular. Said sites do include: Facebook,YouTube andTwitter. Most likely, baby boomers, in some numbers, are visiting and, perhaps, contributing, into these sites.
The sites’ contributions are being created, by individuals, without alternative agendas, so it is hoped. This, created by innocents, premise, is fostering, the ongoing support of the social networking sites.
Sites' visitors are comfortable, as they assimilate the opinions, thoughts and videos. These entries are, presumably, unfettered.
Unfortunately, this premise of innocence is not reflective, of the current situations, which are existing, within the social network industry.
Vendors, such as Bloggerwave, are shilling, for "twenty-percents" controlled business entities.
Yes, the social network sites are being used, by the "twenty-percents" controlled business entities, such to prey upon, the "eighty-percents," which are, of course, constituting, the USA citizen majority.
The Bloggerwave Inc does provide, what is described as "Social Media Optimization."
This service is empowering, business entities, such to present, as innocent web citizens, while, at the same time, inflicting, there money grubbing messages upon the hapless social networks’ devotees.
The bottom line: caution is the byword, as you are visiting, the social network sites. All that is glittering, may not be gold!
The financial excesses, of the USA government, are documented. These ongoing excesses are contributing, toward: the current economy dilemmas, which are encountered, within the USA; the ever increasing national debt; and the current fiscal year's deficit.
The USA federal government is, obviously, not, as yet, learning, "a lesson"
The practices, which are fostering, ongoing financial irresponsibility, are being sustained, by USA consumers, also.
One of these practices: cell phone usage, within the USA.
The number of cell phone subscribers, for whom a legitimate need does exist, such to be continuously available for contact, via phone, is, very small.
Perhaps, five percent, of the numbers, which are revealed, via the hyperlink displayed in the next paragraph, do possess this legitimate need.
Sources do report: Cell Phone Subscribers in the U.S., 1985–2008.
The money, which is being spent, by USA consumers, as they are paying monthly premiums, for cell phone subscription services, is much better spent, as same money is being directed, toward other goods and services.
The time is arriving: USA consumers are "growing up" and reassessing, what are their true needs, as said needs are existing, for communications empowerment.
Truth be told, most USA consumers are adequately served, as they are making use of existing, relatively inexpensive, land line, phone service.
Emergency communications, hardware and interconnect service, are, correctly, being provided, by public entities.
As change is being undertaken and entity provided, emergency services are being placed into service; said services are applying, for true emergencies only.
Unfortunately, cell phone usage is providing, 'nib shits' and 'little helpers' with ill used avenues
These avenues are facilitating, both, situation aggrandizements and self aggrandizements.
Email and fax are much better as communication mediums. These alternate mediums are using, the written word, as opposed to the spoken word.
We are remembering, the spoken work via cell or land line does remain as heresy, which is, easily, being: falsely presented, misconstrued or misinterpreted.
Today, January 25, 2010, The Conference Board is releasing, the Consumer Confidence Index.
The question: Does the substantive body of thought, which is necessarily, in place, as the economic health, of the USA economy, is being determined, motivate the consumers's opinions, which are being revealed, via this index?
Boomers have customers, friends, neighbors and relatives; these, so identified, individuals are constituting, "the public."
So, place your bets!
Boss Bush is adding, members to the Supreme Court, during his terms as USA President.
Perhaps, these additions are coming to the fore as the Court is deciding, CITIZENS UNITED v. FEDERAL ELECTION COMMISSION.
Initially, upon being learning, of the decision; Baby Boomer News is experiencing, anger and fear. The intense apprehension, which is resulting, from the fear, is exceeding, the intensity, of the anger.
Upon reflection; Baby Boomer News is becoming, more comfortable. The comfort level increase is being derived, from understanding: the Court is stating, such that corporate entities are possessing, the same freedom of speech empowerments as our individual USA citizens.
This understanding is a derived rationalization.
The rationalization’s application, for this particular, money driven, situation, is difficult.
The corporate voice is as strong as is the individual human voice, as the election environments are presenting, as being ideal.
However, the introduction, of large money amounts, is changing the election environment.
With good reasons; the USA citizens fear, this environment change.
This change of environment is empowering, the corporate voices
The corporate voices are overpowering, the individual human voice and the collective human voices, as this empowerment is becoming manifest.
The question: how do the USA citizens temper the corporate voices?
The corporate voices are becoming omnipotent, via money spending. The citizens voices are becoming, once again heard, via the removal, of the discretionary money, which is being applied, toward elections, from the corporations.
Taxation, at the federal, local and state levels is the, obvious, methodology, which is effectively tempering, the corporate voices, as said voices are being directed, toward the election process.
These, suggested, tax increases are, while tempering the corporate voices, aiding, in the processes, which are reducing, the USA's annual deficits and long term national indebtedness.
Sources are reporting:
Voters say they want the deficit reduced even if it hurts the economy
In an NBC News/Wall Street Journal Poll - Scroll Down Page, they were asked if they'd prefer
(a) to boost the economy even though it meant larger deficits, or (b) control the deficit even if it meant a tougher recovery.
Only 31% chose boosting the economy; 62% chose controlling the deficit.
A visit to Fannie Mae's Homepath website does provide, an emotional uplift for Baby Boomer News. Baby Boomer NewsSearching through residential properties, which are available for sale, does deliver the promise: common sense is, perhaps, returning, for residential real estate valuations, within the USA.
Housing, such as is revealed, via this hyperlink is being offered, for sale. This selected example, along with other examples, does offer: attractive appearing; recent construction; pricing less than $100 per square foot of structure.
These structures are found, with frequency, within Arizona and Nevada.
True, these structures are, possibly, being afflicted, with structural flaws; with infestations; with environmental shortcomings, which are specific, for the areas, wherein the properties are situated.
Nevertheless, TBBN does hold the opinion; these price reductions are positive steps, toward the accurate pricing, of residential real estate, which is situated, with the USA.
Yes, TBBN is still desirous, such to change the evaluation methodology. Said change is separating, the land value, form the structure value. Said separation does result, with the eventual total depreciation, of the structure. As the structure does become without value; land value is remaining, as the sole deeming factor as a property’s sale price is being established.
The Massachusetts voters speak, January 19, 2010.
In Massachusetts, non Republican voters outnumber Republican voters three to one. The Democrats do not enjoy a voter registration majority. The unaffiliated, Massachusetts voters are the key. The unaffiliated voters are aligning, with the Republican voters and a Republican Senator is being elected, January 19,2010.
At this time, the question is: as the, mid term, elections are arriving; do the other states voters follow courses of action, which are presenting, as shows of non-support for the BamaBoy initiatives, which are, both, underway and proposed.
Poor Boomers; the folks, for whom $2000 to $3000 motor vehicles are a way of life, are angry. The Cash for Clunkers program is removing, many, of these low priced vehicles, from the marketplace. The removal is resulting, as BamaBoy is mandating: these vehicles are being destroyed as they are being surrendered, via the CFC program.
Providing incentives, for a select few, is enough evil. The destruction, of usable machines, is over the top.
The remaining population, Boomers included, is frightened. The fear is arising, as the Congress is contemplating, the passage of legislation, which is mandating: health insurance is being required, for all USA citizens.
Once again, the premise is health insurance for all; the premise is not health care for all. Citizens do realize; there is a difference.
Some citizens are angry; some citizens are being frightened; as the USA's economic future is being pondered. The make it up as you go economics, which are being made operational, via the Obama administration's machinations, are the source of the angers and the fears.
The administration's failure, such to significantly alter the status quo, as defined, by Wall Street and the administration's manipulation, of the federal bankruptcy code are adding fuel to the anger fires and to the fear fires.
Obama is not possessing the knowledge, temperament and understanding, which are, by necessity, all being in place, as the above enumerated problems and opportunities are being addressed.
Obama seeks quick and easy fixes, much as a young thug; who is, on the spur of the moment, robbing, a convenience store, while possessing, an illegally obtained pistol or revolver.
Obama is elected, because a change is necessary. This first change is not successful; now, another change is necessary.
Previously, Baby Boomer News is suggesting, Peoples Republic of China(PRC) is the preeminent nation, during the twenty-first century.
This premise is based upon these observations:
1. The sheer number of people, who are comprising, the PRC population.
2. The development, of national infrastructure, within PRC.
3. The emergence, of significant manufacturing capability, which is resulting, as the ruling Communist party, within the PRC, is adopting, a slightly modified, capitalist mindset. Said mindset is being applied, solely, for world commerce.
4. The premise, such that the orientals' minds are more attuned, for the development and exploitation, of the Information Age, than are the western populations' minds. TBBN is holding, the opinion: the masters of the Information Age are the masters of the twenty-first century.
5. More income dispersion, among the Chinese population; rising living standards, among the Chinese people; the designation, of 'capitalist,' which is being applied for some portion of the PRC population.
There are many, who are doubting, the emergence, of PRC, during this current century. Questions, about China's emergence, and hesitations, regarding China's emergence, are well founded. We need, only, examine, the Chinese behaviors as applied, for their honest forthcoming, with accurate information, during previous encounters.
Many, if not most, do perceive; China does continue, such to present, as a growth economy.
As an example, the PRC GDP growth, during the fourth 2009 quarter, is: $4.3T USD. This figure is determined, on an annualized basis.
China doubters do explain: the PRC's $900B USD financial stimulus program, which is enacted, during 2009, is generating, one fourth of the GDP growth.
Detractors are informing: China does build a new city, in the middle of Inner Mongolia. This new city is being established, with a price tag, in the billions of USD.
This new city does remain, without population, as 2009 is closing. This city is named: Ordos. Is this city, only, a 'razzle-dazzle,' which does serve as a GDP hype?
China critics expose a dichotomy, which does exist, between auto sales totals, as supplied, by the Chinese government, and the total sales of gasoline, within the PRC.
Auto sales do continue, With A Record Breaking Increase during 2009. The PRC auto registrations do increase, by double digits, during 2009.
However, the gasoline gallons, which are sold, during 2009, are NOT, apparently, increasing.
Doubters are suggesting, the Chinese government is 'cooking the books.' What is happening: more efficient autos; fewer miles being traveled, via auto; misinterpreted statistics; some of each?
PRC supporters retort; there is not a 'bubble,' in existence, within the PRC economy. Further, the need for infrastructure, especially mass transit, is assuring, the continuation of Chinese economic growth, into the foreseeable future.
Inconsistencies and irregularities do abound. From it all; what we, as USA citizens, are discerning; outsiders' participation, in the forthcoming Chinese emergence, is, most likely, not being offered, with ongoing reliable information.
Eventually, as the PRC is becoming, ever stronger; such participation is, possibly, not existing in any amounts or in any forms.
The hyperlink, which is contained herein, does provide an opportunity, for the The Baby Boomer News visitor, The visitor is reading, the statement, which is delivered, by Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation on the Causes and Current State of the Financial Crisis, January 14, 2010.
This statement does provide perspectives and insights. This information is revealing :
1. The recent prominence of the 'shadow banking' industry along with an explanation of the negative influences, which are being exerted, by this upstart industry.
2. The excessive, ongoing stimulation, which is being directed, toward the money supply, within the USA.
3. The creation of financing vehicles, via enterprises, which are situated outside the traditional banking industry.
4. How the last banking debacle, which occurs during the 1980s, is bringing influence to bear. Said influence is, in part responsible, for the current financial crisis.
5. The double digit increase in residential real estate prices, annually, during the previous nine years. These price increases are being driven, via increased demand. This demand is being motivated, via the availability of various and assorted, non traditional, financing schemes. These schemes are presenting, during this same time period.
Yes, and in addition, these substantial price increases are, in part, being attributable, toward the inaccurate and inadequate methodology, which is applying, as residential real estate is being valued. Indeed, without this valuation misanthrope’s existence; the dubious schemes are not being nurtured, as the schemes are being born.
Statement of Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation
Today, January 14, 2010, The Baby Boomer News does extend kudos for President Obama and for the Google search engine management.
The President is suggesting: Congress is enacting legislation, which is levying a tax upon financial firms, which are possessing assets greater than $50 Billion each.
The stated purpose for this suggested levy: assure repayment of the TARP monies.
TBBN does believe; more USA citizens are benefitting, than are not benefitting, as this proposed tax is being implemented.
As a bonus, for the citizens, we, the citizens, are witnessing, the Congressional members enacting, a tax, which is not beneficial, for the, more significant, financial supporters, of the Congressional members. Super!
Google management is being commended, because they are taking a strong stand, which is supporting, these concepts: freedom of thought; freedom of inquiry; freedom of expression.
This stand is being taken, as the Chinese government is continuing, policies, which are designed, such to suppress free thought and free expression.
Google is, of course, risking much as they are taking this strong position. The PRC population is a large, search engine market, at this time. The PRC population is, possibly, constituting, the largest search engine market, as time is passing.
The residential real estate foreclosure nemesis is still lurking. This is an opinion, which is being voiced, by a real estate data firm.
Realty Trac is stating, in a report being released, January 14, 2010: residential real estate foreclosures are increasing, during, 2009. This company is, in addition, stating: the outlook for 2010 is not being rosy
The video presentation, which is accessed, via the following hyperlink is revealing and is, maybe, frightening. More Foreclosure Trouble AheadThe video does not discuss, what are the missteps, which are responsible, as the foreclosure debacle is presenting and is continuing.
Once again, we are aware; the current state, of the residential real estate market, is being attributable, toward the acceptance, of mortgages, from individuals, for whom repayments are being difficult. What is difficult is becoming impossible, as the USA economy is slowing.
Greed, which is based, within financial institutions, is motivating, the creation of these weak financing instruments, which are empowering, the buying an selling of overpriced residential real estate.
The real questions:
1. Why do sub-prime borrowers exist, within the USA?
2. Why is residential real estate not valued correctly, within the USA?
3. Why is the financing, of residential real estate, not reflective of the true values, which are situated, within the lands and the structures?
Inadequate, federal taxation, as applied, for the wealthy entities and the wealthy individuals is the answer for question number one. Very simply; the USA wealth is not being divided equitably. Federal taxation is a mechanism, which is in place. This mechanism is presenting, as an extremely effective tool, as it is being applied, for wealth leveling, within the USA. Use the federal tax system, for this purpose!
A change is necessary, as the USA is valuing, residential real estate. TBBN does suggest, once again: land is valued separately, from the structures, which are placed, upon the land
The land is appreciating, in value, overtime. The structure, which is placed, upon the land, is depreciating, over time.
The current system is wrong. The current system does, frequently, appreciate, both the land and the structure over time.
In addition to a change in the valuation methodology; two instruments are, correctly, being used, as residential real estate is being financed:
A. The mortgage is being secured, by the land, only. The mortgage amount is being determined, by the value of the land, only. Possibly, the land mortgage is being retired, via the payment of interest, only, through a predetermined time schedule. This, interest only payment methodology, does require, a balloon payment is being due as the interest payments schedule is being completed.
B. The structure is being financed, via an installment loan. This structure loan is presenting, with similarity to an auto loan or an installment loan. Fixed payments, which are including principal and interest, are being completed, through a predetermined time schedule.
Baby Boomer News is, previously, expressing, doubts as to the need for federal legislation, as said legislation is being applied, for citizen health care.
Now, December 24, 2009, the U.S. Senate is passing, The Patient Protection and Affordable Care Act. This legislation is proceeding, into a conference committee. The conference committee is deliberating, with the intent, such to reconcile the Senate health care legislation, with the House of Representatives' health care legislation.
Following this reconciliation process; both Congressional chambers must pass the, agreed upon, reconciled version.
We are remembering, the earlier legislation, which is titled: H.R.1 is containing, a provision which s establishing, the "Death Panel."
H.R. 1 is more commonly known as: The Stimulus Bill.
H.R. 1 does, among other vices, empower: Federal Coordinating Council for Comparative Effectiveness Research. This bit of business is the "Death Panel." This empowerment is effected, via the creation of a $1.1 Billion fund.
The intent of this Federal Coordinating Council for Comparative Effectiveness Research is exposed here:
Ruin Your Health With the Obama Stimulus Plan: Betsy McCaughey
Baby boomers, who are constantly becoming older, are, most likely, having need for additional, complicated and expensive, health care procedures as we are becoming older.
The "Death Panel" is not an entity, which is beneficial, for the boomers future well being
Returning, to the specifics, of the Senate's The Patient Protection and Affordable Care Act; the commentaries, which are being reviewed, via the following, of the links below, are revealing additional shortcomings and deceits, which are not fostering, the boomers best interests.
The Real Price of the Senate Health Bill
What Doctors and Patients Have to Lose Under Obama Care
Again, we are remembering; currently, all USA citizens do not have health care insurance. However, all USA citizens do receive some level of health care.
With Bama Boy's health insurance plan established, as the law of the land; all USA citizens do have health insurance. However, all USA citizens are not guarantied health care.
Goldman Sachs is the largest corporate contributor for Bama Boy's Presidential election campaign.
Michael Moore does advise, of this fact, in his new film titled: Capitalism: A Love Story.
The revelation is being confirmed, via Open Secrets
Obviously, this President is being owned, by the out of control, Wall Street banks.
AIG is not a member of the top contributors listing.
However, Bama Boy’s demonstrated predilection, toward the large business entities, does, perhaps, eliminate the element of surprise, as a factor, while we are digesting, the revelations which are brought forth in this Sigtarp report
Factors Affecting Efforts To Limit Payments To AIG Counterparties
This President is not a friend, for the poor citizens, in the USA.
The quotation, which does follow, is food for thought as the federal government and wall street become less the separate entities and more the single entity. This, hitherto somewhat disguised, single entity is not being concerned with welfare of the USA citizen majority.
This entity is serving, the ten percent, of the USA population, who are controlling fifty percent of the USA income. This entity is serving, also, the one percent, of the USA population, who are controlling twenty-four percent of the income. This, illegal entity is serving, as well, the twenty percent, of the USA population, who are controlling eighty percent, of the USA wealth.
"When you see that trading is done, not by consent, but by compulsion — when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see money flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."
—Ayn Rand, Atlas Shrugged (1957)
What are we enduring, as the USA economy is “adjusting,” for the excesses, which are being in place, through many years?
Is the recession complete? Are we experiencing, a ‘V’ recovery, from the recession? Are we experiencing, a ‘U’ recovery from the recession?
Are we, currently, during, November 2009, situated in the eye of a financial storm? Are we moving, in the near future, into the storm side, which is being more severe?
What about cycles: the twenty year cycle; the fifty year cycle; the 500 year cycle? Are the cycles for real; or merely coincidences?
Maybe, the suffering is all about change. Are we enduring, the symptoms of a change; the underpinnings, of which are already afoot? During, the third or fourth decade, of the twenty-first century, is China becoming, the leading nation, in this planet?
How about those third quarter corporate results? Losses are, in some instances being replaced, with profits. Well of course, productivity is increasing, which is fostering, a profitable environment. Never mind; the increased productivity is resulting, as employee layoffs are remaining. .Employees are being fired; employees are not being hired.
These productivity increases and these recovering profits are, Bama Boy economics, fall outs. These aforementioned ‘positive’ changes are, often, not the result of more production and more sales.
The productivity increases, along with the resulting, profits, are based upon human suffering.
We, the hapless USA citizens, do understand; banking is very profitable. This is especially true, when the banking industry is benefiting, from capital infusions, which are being provided, from the USA taxpayers. Said infusions are being spread about, with few constraints attached.
One, newsletter publishing, financial analyst is expressing, his thoughts, via this hyperlink
The Great Hoax of 2009-2010
Obscenities are being attached, for income growth and income dispersion, within the USA.
The hard facts, as they present, in one state, are being revealed, via the hyperlink, which is presented, below. PA Workers Do Not Share Income Growth
Currently, which is to say: August 23, 2009, the USA does provide health care for all persons.
The USA, currently, does not provide health insurance, for all persons.
If Bama Boy's proposed, health care, legislation is being passed, into law; there is a change being created.
The new order, as proposed, is providing, health insurance for all USA citizens.
This legislation, as proposed, does not provide health care, for all USA citizens. In addition, non citizens, within the USA, are not being provided health care, as the pending legislation is becoming, the law of the land.
The single, good proposal, which is forthcoming, from the Administration, does present a proposed change in the methodology, which is being applied, for the payment of healthcare, within the USA.
This proposal is enacting, the necessary legislation, which is empowering taxation, of the rich, such to pay for the healthcare, which is being supplied, for the masses.
The Baby Boomer News is holding the opinion: this new taxation is desirable, fair and viable, as viewed, from two perspectives.
First, an unbearable burden is being removed, from the backs, of the less able. The burden is being transferred, onto the backs of the more, if not the most, able.
Obviously, these individuals, who are grabbing, more than fair share of the wealth and income, which is available, within the USA, are possessing, superior gene combinations.
These combinations are providing, said individuals, with superior emotional, superior mental and superior physical capabilities and endurances.
Second, this, proposed, health care payment, taxation is doing much , such to redistribute, income and wealth, within the USA. Such redistributions are, at all times and correctly, a top priority.
Unfortunately, the rich persons' shills, who are populating, the USA Congress, are not amenable towards enacting, the legislation, which is necessary, such to compel the rich persons’ payment, of the bill, which is accruing, for the masses’ healthcare.
Rob Peter and pay Paul.
This, familiar, catch phrase is applicable, as a title, which is being applied, for Bama Boy's Cash for Clunkers, government subsidy program.
Herein, Peter is being used as a synonym, which is being applied, for USA, new auto sales during the months: September 2009 through December 2009.
At the same time; Paul is being used as a synonym, which is being applied, for USA, new auto sales during the months: July 2009 through August 2009.
In addition, facts do reveal; Paul is spending, more time in Asia and Europe, than Paul is spending in the USA.
More of Paul's financial gain is being spent, outside the USA, than is being spent, within the USA.
More harm tha good is the result, of the Cash for Clunkers program! Yes?
How silly are the residential real estate markets, which are being situated, in the USA?
This story: a. high-rise has 32 stories, but just 1 tenant is providing, an insight into the childishness, which is pervasive and is presenting, as individuals are seeking shelter..
After reading, this expose; the questions are many:
1. Who is dumb enough, such to purchase a $430,000 condominium. Regardless: the location; the finishes; the richly endowed common area maintenance fund (CAM); the tax advantages; these dwelling units are apartments, which are possessing, all of the disadvantages, which accrue, for same.
2. How does it come to pass; a forty-five year old, fire captain, a civil servant, from New Jersey is acquiring, $10,000.00, which is used as a cash deposit.
3. This individual is, also, acquiring, a $336,000.00 condominium mortgage, while maintaining, a residence, either an owned habitat or a rented habitat, in New Jersey .How does this happen?
Ostensibly, the mortgage is acquired, via the exhausting of the individual’s life savings.
Obviously, the question: how does the individual, who is bearing, the burden, incumbent with a five member family, acquire $100,000.00 +/- life savings?
Certainly, the residential real estate market place is having need, for an adjustment, which is changing, the in place, real property valuation, methodologies.
Increasing apparent; there are, also, additional, revisions being needed.
Specifically, the types, of residential real estate, which are being created, are being limited, via regulations.
The types of residential real estate, which are being offered, for sale, are being limited, via regulations.
Today, July 31, 2009, sources are reporting: the House of Representatives is passing, a bill which is authorizing, an additional $ 2 Billion funding. This funding is being directed, toward the 'Cash for Clunkers,' auto sales incentive, program.
The money, for this additional funding, is being taken, from a green energy program, which is not being scheduled, for activation, before 2010.
The Baby Boomer News is holding many questions, which are resulting, from the unfolding, of the clunkers program.
1. If, the excessive concentrations, of wealth and income, which are existing, within the USA, are not in existence; is this program being necessary?
2. With the aforementioned concentrations, in place, is the clunkers program being necessary?
3. Who are the true beneficiaries, if any are existing, of this program? The auto industry, the car dealers or the citizens?
4. If the USA citizens are the true beneficiaries; does the vehicle purchasing, citizen subset enjoy the greater benefit or does the taxpaying, non vehicle purchasing, citizen subset enjoy the greater benefit?
5.How many poor souls are paying, too much money, as they purchase vehicles?
HYPOTHETICAL EXAMPLE:
A. Sticker price: $20,000.00 USD
B. Invoice: $18,000.00 USD
C. Manufacturer's Incentives: $500.00 USD Cash For Buyers.
D. Cash for Clunkers: $3500.00
Correct Purchase Price: $14,000.00 Plus Sales Taxes And License Fees
This $14,000.00 is permitting, the dealers a profit of 2% to 3% of the Invoice amount. This amount is designated, as 'dealer hold back.' Dealer is, perhaps, receiving, additional profit, from auto loan kickbacks, which are supplied, by the auto loan originator. These kickbacks are substantial; several hundred dollars, per loan, is not unusual.
TBBN is not being surprised, such to discover; more than a few, of the 200,000, Cash for Clunkers, buyers are paying: $16,000, for the $20,000 USD vehicle, which is presented, in the above hypothetical example.
6. Above example is very simple. TBBN does not understand; what is the situation, while the clunker is possessing, a wholesale value, which is greater, than is the Cash for Clunkers allotment? Does the new vehicle purchaser receive, the wholesale value plus the Cash for Clunkers allotment?
Probably not!
Does the new vehicle purchaser receive the Cash for Clunkers allotment, while the positive cash amount, which represents the difference between the allotment and the clunker's wholesale value is being subtracted, from the purchase price?
In the above example, if the clunker is possessing, a wholesale value of $4000; the purchase price is becoming, $13,500.00 USD. The $500.00 USD reduction, which is applied, for the purchase price, is the difference, between the Cash for Clunkers allotment and the clunker's wholesale value.
7. How many people are defaulting, as they are attempting, such to complete the auto loan payments, which are resulting, from the Cash for Clunkers program's existence?
8. How are the, taxpaying, USA citizens paying, the tab, for the Cash for Clunkers program, without incurring, additional, personal financials, hardships?
The Cash for Clunkers program is not well thought out. This program is a Bama Boy amateur attempt. The benefits are being short lived. The, long term, costs, which are accruing, from the Cash for Clunkers program are greater, than are the short term benefits.
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