Too Big to Fail...Or Too Big to Govern?
Posted by Ercille Christmas at 6/14/2011 11:06 AM 
Categories: Political
Tags: Flag Day President Obama Speaker Boehner China Alan Greenspan
Categories: Political
Tags: Flag Day President Obama Speaker Boehner China Alan Greenspan
The obituary notices are being circulated. Some are mourning, but are too broke to send flowers. Others are rejoicing, and want to send champagne in celebration. Who is the person generating this conflicting buzz? Actually, it is not a person. It is the land personified by Uncle Sam. Yep, poor Uncle Sam/USA/America is being buried in an avalanche of debt, created not by some foreign entity/sworn enemy/Machiavellian type. Nope, this USA is being massacred by its “sons and a few daughters,” supposedly in charge. The enforced financial suicide is an inside job. Maybe there is some Machiavellian type or types involved after all.
It is disconcerting to wake up to the headline that China dropped 97 percent of its holdings in U.S. Treasury bills – because it can. Going from holding $210.4 billion to $5.69 billion in under two years is a heck of a drop. In the meantime, an agreement was reached between the US president and the Speaker of the House to go golfing. One whack of that golf ball ought to bring down the debt and the deficit? My discombobulated state continued with the next headline that the Dow Jones Industrial Average had its own version of “I have fallen, and I may not get up. “The article reported on “jobs and manufacturing.” There are still jobs in manufacturing in this country? Did China et al, go on vacation?
The former Federal Reserve Chairman, Alan Greenspan added to my personal misery index when he was described as “scared.” He is scared? He should see the reaction of that person who is out of unemployment benefits and still no job. He should check with that single mother who still has a job, but is worrying about those rumors that her $10 an hour job could be exported to someplace, where for about $2 a month, the product that she would normally produce, is being sufficiently assembled to last until it is taken out of its box, before it falls apart.
Chairman Greenspan is recommending “the highest tax rates in more than a decade.” I guess he has not gotten the message that those who are considered “rich” and therefore “eminently taxable,” will protect themselves, by flight of their capital, if they have to. He and others suggesting this remedy should check with Bono, who is facing flak for moving his business to a more friendly business environment. I do not blame Bono or any other of the “rich” for wishing to protect themselves. I firmly believe that everyone, no matter the size of the income, should pay the same percentage to Uncle Sam, and make it a small percentage, under 10 percent.
All of the other “arrangements” including the favors given to some, at the expense of others, are causing the graft, corruption and waste that are becoming endemic to the present system. I typed “becoming.” I used the wrong tense. I should have used “become,” accompanied by “entrenched.” With all due respects, Mr. Greenspan – it is the overspending by government, not the under-taxing by government, that is causing the seemingly inevitable financial collapse of the US, “land of the financially enslaved, and home of the financially scared.”
Even if some members of the ruling class are oblivious to the dire financial situation of the US, Moody's is certainly taking notice, threatening to downgrade the credit rating of the US. Instead of the triple A rating, will Moody’s come up with a rating that translates to “you are screwed”? The more important question is – will a downgrade succeed in postponing that upcoming golf game between President O and Speaker B?
As usual, Mark Steyn gave his biting analysis of the president’s job performance and his nonchalance in addressing important issues. By the way, businesses out there, do not invite the president to visit. He is good at closing down businesses! Bye, Chet’s. I had forgotten about this famous line – “"this was the moment when the rise of the oceans began to slow." Not only has the rise of the oceans begun to slow, the progress of the country has taken on glacial speed! Seriously though, the president’s dispassionate “bumps in the road to recovery” translates into actual human beings being bumped from jobs and homes.
I wonder if he would be so stoic if China foreclosed on the White House. While he was wining and dining the Chancellor of Germany, unlike the barely civil meeting that he had with the leader of Israel, the human bumps were struggling to put food on the table. I don’t know about anyone else, but I am beginning to think that this “leadership” gig should be part time and a real job should be worked the other half of the time. That goes for all levels of “government.”
China may not foreclose on the White House, but according to this article, it may soon own the state of Idaho? What the heck is the real purpose of “Project 60”? Foreign firms are getting “special tax exemptions”? American companies do not get these tax exemptions? China owns billions in US Treasuries, gets aid from the US, and now is taking over a US state? What is the Mandarin expression for “idiots”? I am not referring to the Chinese. I am witnessing a country committing financial suicide, and again, I do not mean the Chinese.
Not so fast though in questioning the “China factor.” If I am reading correctly this article by Diana West, we may have more to fear from our own president’s administration. The end game could be “banks nationalized – Economy in lockdown”? The one bright spot in all of this is that China with its social engineering is now scrambling to import girls. It has the situation on its hands of millions of young men seeking wives, but because girls were once “expendable,” there are not enough girls to go around. I do not delight in this girl shortage in China, but there could be a plus for the US with this new “China Syndrome.” China may be too busy righting its cultural/social ship to sink the US financial ship.
Additionally, China could be inclined to not turn its full financial artillery on the US, if it is receiving indirect stimulus money, investment and jobs via situations such as that of Cree LED Light Company. US consumers will be forced to purchase $100 light bulbs, bulbs made in China, with capital created with a $39 million tax credit, which went to open a plant in China? Woo hoo – “Cree Chip, China Heart”? I wonder if Uncle Sam felt that stake through his heart.
Just as I was beginning to experience a little of that hope that was promised in the hype on the road to presidency, there comes this article expounding on American collapse, a situation where we “have no change, no hope and no job.” Normally to be compared to two of the great empires of the world would not be a bad thing – unless the comparison was to the failure of these empires. The Guardian does not paint a pretty picture:
The experience of both Rome and Britain suggests that it is hard to stop the rot once it has set in, so here are the a few of the warning signs of trouble ahead: military overstretch, a widening gulf between rich and poor, a hollowed-out economy, citizens using debt to live beyond their means, and once-effective policies no longer working. The high levels of violent crime, epidemic of obesity, addiction to pornography and excessive use of energy may be telling us something: the US is in an advanced state of cultural decadence.
Despite the visual of a rotting empire, I am going to take hope in the following paragraph:
The assumption is that the problems can be easily solved because the US is the biggest economy on the planet, the only country with global military reach, the lucky possessor of the world's reserve currency, and a nation with a proud record of re-inventing itself once in every generation or so.
What is the suggestion of this non-scientist, non-economist, non-psychiatrist? I would humbly suggest that Americans adopt the following measures in choosing their leaders:
▪ Wise leaders, leaders whose brains are actually in their heads and not in their pants
▪ Leaders who know the history of the country
▪ Leaders who know even a smidgen of economics
▪ Leaders who realize that riding around in limos and jets is not the primary function of leaders
▪ Leaders whose motto is not “do as I say not as I do”
▪ Leaders who pass laws for all citizens, not just for the serfs
▪ Leaders who practice “public service” and not turn into public users
My fellow “serfs,” we are not off the hook once we elect these leaders. Instead of being distracted by the antics of the celebrity du jour, we have to pay attention to the actions of those elected. We already know it is a given that the elected ones will say anything to get elected, knowing full well that once they get into office, they can get away with murder, figuratively speaking of course. We therefore have to, in a few election cycles, even if we have to have an electoral revolving door, get them to understand that the “public servant” part of the job description is a major factor in determining whether they get to hold onto the limos and the jets. We expect a worthwhile return on investment or they will be returned from whence they came.
As one who immigrated to this country, and now a citizen, I have someplace else where I can run to escape oppression. Millions of my fellow serfs/Americans, do not have that “escape hatch.” I will not exercise that option though. When I stood and proudly pledged allegiance to the Flag of the US, it was like a marriage, and not one of convenience. I was in love with the America of the Founding Fathers, the America with the “can do” spirit, the America of innovation, of dollars for efforts, the real land of liberty. It was for “better or for worse.” “Worse” is upon us. I intend to remain to do whatever I can, legally and morally, to ensure that “worse” does not become “worst,” that the state of the State, is eventually returned to at least “better.”
By the way, one way that I would make things better, would be to make it illegal for presidents to be out prostituting themselves for money, especially barely concealed attempts at political fundraising in the White House. In the meantime, I am busy on my knees with my own “fund raising.” I am raising prayers to God to beg Him, not to withhold His blessings from this country. Despite the denials of some, if this US fails, the rest of the world should be deeply concerned. The “Great Satan” is also the great ATM (cash machine) and EMT (emergency med tech/emergency relief) of the world. There is no alternative.
Happy Birthday to The Stars and Stripes! May the citizens who you represent, be vigilant in preserving this country so that you may forever fly proudly!
It is disconcerting to wake up to the headline that China dropped 97 percent of its holdings in U.S. Treasury bills – because it can. Going from holding $210.4 billion to $5.69 billion in under two years is a heck of a drop. In the meantime, an agreement was reached between the US president and the Speaker of the House to go golfing. One whack of that golf ball ought to bring down the debt and the deficit? My discombobulated state continued with the next headline that the Dow Jones Industrial Average had its own version of “I have fallen, and I may not get up. “The article reported on “jobs and manufacturing.” There are still jobs in manufacturing in this country? Did China et al, go on vacation?
The former Federal Reserve Chairman, Alan Greenspan added to my personal misery index when he was described as “scared.” He is scared? He should see the reaction of that person who is out of unemployment benefits and still no job. He should check with that single mother who still has a job, but is worrying about those rumors that her $10 an hour job could be exported to someplace, where for about $2 a month, the product that she would normally produce, is being sufficiently assembled to last until it is taken out of its box, before it falls apart.
Chairman Greenspan is recommending “the highest tax rates in more than a decade.” I guess he has not gotten the message that those who are considered “rich” and therefore “eminently taxable,” will protect themselves, by flight of their capital, if they have to. He and others suggesting this remedy should check with Bono, who is facing flak for moving his business to a more friendly business environment. I do not blame Bono or any other of the “rich” for wishing to protect themselves. I firmly believe that everyone, no matter the size of the income, should pay the same percentage to Uncle Sam, and make it a small percentage, under 10 percent.
All of the other “arrangements” including the favors given to some, at the expense of others, are causing the graft, corruption and waste that are becoming endemic to the present system. I typed “becoming.” I used the wrong tense. I should have used “become,” accompanied by “entrenched.” With all due respects, Mr. Greenspan – it is the overspending by government, not the under-taxing by government, that is causing the seemingly inevitable financial collapse of the US, “land of the financially enslaved, and home of the financially scared.”
Even if some members of the ruling class are oblivious to the dire financial situation of the US, Moody's is certainly taking notice, threatening to downgrade the credit rating of the US. Instead of the triple A rating, will Moody’s come up with a rating that translates to “you are screwed”? The more important question is – will a downgrade succeed in postponing that upcoming golf game between President O and Speaker B?
As usual, Mark Steyn gave his biting analysis of the president’s job performance and his nonchalance in addressing important issues. By the way, businesses out there, do not invite the president to visit. He is good at closing down businesses! Bye, Chet’s. I had forgotten about this famous line – “"this was the moment when the rise of the oceans began to slow." Not only has the rise of the oceans begun to slow, the progress of the country has taken on glacial speed! Seriously though, the president’s dispassionate “bumps in the road to recovery” translates into actual human beings being bumped from jobs and homes.
I wonder if he would be so stoic if China foreclosed on the White House. While he was wining and dining the Chancellor of Germany, unlike the barely civil meeting that he had with the leader of Israel, the human bumps were struggling to put food on the table. I don’t know about anyone else, but I am beginning to think that this “leadership” gig should be part time and a real job should be worked the other half of the time. That goes for all levels of “government.”
China may not foreclose on the White House, but according to this article, it may soon own the state of Idaho? What the heck is the real purpose of “Project 60”? Foreign firms are getting “special tax exemptions”? American companies do not get these tax exemptions? China owns billions in US Treasuries, gets aid from the US, and now is taking over a US state? What is the Mandarin expression for “idiots”? I am not referring to the Chinese. I am witnessing a country committing financial suicide, and again, I do not mean the Chinese.
Not so fast though in questioning the “China factor.” If I am reading correctly this article by Diana West, we may have more to fear from our own president’s administration. The end game could be “banks nationalized – Economy in lockdown”? The one bright spot in all of this is that China with its social engineering is now scrambling to import girls. It has the situation on its hands of millions of young men seeking wives, but because girls were once “expendable,” there are not enough girls to go around. I do not delight in this girl shortage in China, but there could be a plus for the US with this new “China Syndrome.” China may be too busy righting its cultural/social ship to sink the US financial ship.
Additionally, China could be inclined to not turn its full financial artillery on the US, if it is receiving indirect stimulus money, investment and jobs via situations such as that of Cree LED Light Company. US consumers will be forced to purchase $100 light bulbs, bulbs made in China, with capital created with a $39 million tax credit, which went to open a plant in China? Woo hoo – “Cree Chip, China Heart”? I wonder if Uncle Sam felt that stake through his heart.
Just as I was beginning to experience a little of that hope that was promised in the hype on the road to presidency, there comes this article expounding on American collapse, a situation where we “have no change, no hope and no job.” Normally to be compared to two of the great empires of the world would not be a bad thing – unless the comparison was to the failure of these empires. The Guardian does not paint a pretty picture:
The experience of both Rome and Britain suggests that it is hard to stop the rot once it has set in, so here are the a few of the warning signs of trouble ahead: military overstretch, a widening gulf between rich and poor, a hollowed-out economy, citizens using debt to live beyond their means, and once-effective policies no longer working. The high levels of violent crime, epidemic of obesity, addiction to pornography and excessive use of energy may be telling us something: the US is in an advanced state of cultural decadence.
Despite the visual of a rotting empire, I am going to take hope in the following paragraph:
The assumption is that the problems can be easily solved because the US is the biggest economy on the planet, the only country with global military reach, the lucky possessor of the world's reserve currency, and a nation with a proud record of re-inventing itself once in every generation or so.
What is the suggestion of this non-scientist, non-economist, non-psychiatrist? I would humbly suggest that Americans adopt the following measures in choosing their leaders:
▪ Wise leaders, leaders whose brains are actually in their heads and not in their pants
▪ Leaders who know the history of the country
▪ Leaders who know even a smidgen of economics
▪ Leaders who realize that riding around in limos and jets is not the primary function of leaders
▪ Leaders whose motto is not “do as I say not as I do”
▪ Leaders who pass laws for all citizens, not just for the serfs
▪ Leaders who practice “public service” and not turn into public users
My fellow “serfs,” we are not off the hook once we elect these leaders. Instead of being distracted by the antics of the celebrity du jour, we have to pay attention to the actions of those elected. We already know it is a given that the elected ones will say anything to get elected, knowing full well that once they get into office, they can get away with murder, figuratively speaking of course. We therefore have to, in a few election cycles, even if we have to have an electoral revolving door, get them to understand that the “public servant” part of the job description is a major factor in determining whether they get to hold onto the limos and the jets. We expect a worthwhile return on investment or they will be returned from whence they came.
As one who immigrated to this country, and now a citizen, I have someplace else where I can run to escape oppression. Millions of my fellow serfs/Americans, do not have that “escape hatch.” I will not exercise that option though. When I stood and proudly pledged allegiance to the Flag of the US, it was like a marriage, and not one of convenience. I was in love with the America of the Founding Fathers, the America with the “can do” spirit, the America of innovation, of dollars for efforts, the real land of liberty. It was for “better or for worse.” “Worse” is upon us. I intend to remain to do whatever I can, legally and morally, to ensure that “worse” does not become “worst,” that the state of the State, is eventually returned to at least “better.”
By the way, one way that I would make things better, would be to make it illegal for presidents to be out prostituting themselves for money, especially barely concealed attempts at political fundraising in the White House. In the meantime, I am busy on my knees with my own “fund raising.” I am raising prayers to God to beg Him, not to withhold His blessings from this country. Despite the denials of some, if this US fails, the rest of the world should be deeply concerned. The “Great Satan” is also the great ATM (cash machine) and EMT (emergency med tech/emergency relief) of the world. There is no alternative.
Happy Birthday to The Stars and Stripes! May the citizens who you represent, be vigilant in preserving this country so that you may forever fly proudly!
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