Wednesday, December 31, 2008
Do you think company will laid off minority first ?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2045)
I recently got laid off. My company looks like they laid off the monority more then ever. the first one was on June 2007, there were 5 minorities and 1 white lady. this time, 4 minorities and again 1 white lady. I am not being sad because I got laid off. Actually, it is good break for me, but the more my co-worker had pointed out, the more looks to me, a lot of places will laid off minority first regardless how hard you work... of couse, my co. had to add 1 white person, so that they would not get in trouble...
By: debbie
By: debbie
Where is a good place to buy a sapphire ring?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=380)
I'm looking for something in yellow gold, simple, not horribly blingy and reasonably priced. I've looked on Amazon and at Penney's, Sears, Bon-Ton, Boscov's, Kay's, Zales and Belden, with no luck. Are there any good Web sites I should be looking at?
By: BlueAngelGal
By: BlueAngelGal
What is the best book to get if I want to start Home Brewing beer?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1681)
I want to start Home Brewing in my basement. I live in Wisconsin, and hops and other ingredients are readily available, I also have enough land that I can also grow some of my own grains and hops as well. I love beer, darker the better, and I love the rewards of hard work. Any suggestions will be well rewarded with 2 points, possibly 10.
By: James A
By: James A
GM Announces More Job Cuts?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2353)
With so many negative factors going, the announcement that 2009 will bring the close of Oshawa Truck plant and another 1000+ jobs lost in the communities of North America, what do you think is going to happen to these towns?
Oshawa, Ingersoll, places where the automakers have been the main source of employment for the vast majority of the town for years. Towns that are that blue collar workforce and that live and breathe by the functionality of that plant. No one is truly unaffected by this; the increase in job seekers is going to dry up markets and for some who will not be able to find work, they will become a strain on the already crumbling Social Assistance system. Is it really only the price of oil that's causing people to buy smaller vehicles and avoid the North American automakers for imported goods? If these automakers could come up with a fuel efficient, more ecologically friendly alternative for production, do you think it would save these jobs? Why? What will happen?
This is definitely an opinion based question, I have my own thoughts but I'm curious as to how people see this situation that feel like they are removed from it. I grew up in Oshawa and I kind of feel like this could be detrimental to the town. Let's think Ghost Town...
By: Ilerya
Oshawa, Ingersoll, places where the automakers have been the main source of employment for the vast majority of the town for years. Towns that are that blue collar workforce and that live and breathe by the functionality of that plant. No one is truly unaffected by this; the increase in job seekers is going to dry up markets and for some who will not be able to find work, they will become a strain on the already crumbling Social Assistance system. Is it really only the price of oil that's causing people to buy smaller vehicles and avoid the North American automakers for imported goods? If these automakers could come up with a fuel efficient, more ecologically friendly alternative for production, do you think it would save these jobs? Why? What will happen?
This is definitely an opinion based question, I have my own thoughts but I'm curious as to how people see this situation that feel like they are removed from it. I grew up in Oshawa and I kind of feel like this could be detrimental to the town. Let's think Ghost Town...
By: Ilerya
Very early to ask but 2008-2009 predictions?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2883)
i say repeat of the 2004-2005 finals pistons and lakers and pistons take it in 6. with rasheed ending his career as a champion again.
and yes rasheed has told stephen a. smith that once his contract is up he is done playing basketball so he can be the father that he never was because of his schedule.
and yes rasheed has told stephen a. smith that once his contract is up he is done playing basketball so he can be the father that he never was because of his schedule.
and yes rasheed has told stephen a. smith that once his contract is up he is done playing basketball so he can be the father that he never was because of his schedule.
and yes rasheed has told stephen a. smith that once his contract is up he is done playing basketball so he can be the father that he never was because of his schedule.
Is car trade good and how does it work ?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1237)
i own my car and i was thinking about getting a new one..now if i do a trade my car for another car do i have to pay a monthly payment or can i just pay the difference without refinacing or car note ..basically can i trade my car for another close to the value of my car or more ?
By: mozeki22
By: mozeki22
what is the name of the next 3 top movies on your netflix queue list ?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1077)
mine is
princess diaries 1 and 2
ella enchanted
By: (?(?)?)????????oo????s?ooq?????
princess diaries 1 and 2
ella enchanted
By: (?(?)?)????????oo????s?ooq?????
what would be a fair price to ask for this? what would you offer if you were interested in buying this car?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2346)
I've got a 1993 plymouth acclaim that I'm thinking of selling.
Its a 3.0L V6 with 185xxx kms on it, mostly highway. Undercoated every year, never winter driven (i live in the maritimes where most cars of this age are rusted out from salt and snow). Tires still have plenty of tread on them. Very clean, interior of car looks almost new. Burgundy color with red interior. Brand new brake line, fuel line, idle air control motor and spark plugs. Recent battery and starter. Spare tire in the trunk is brand new (used once) and is a full sized tire. Inspection good til June 2009. Absolutely no rust on the body, rocker panels are completely solid. Easy on gas, smooth and quiet ride. Doesn't burn oil - don't let the year of the car fool you - it's been lady driven since it was bought brand new. I enjoy driving this car but am just thinking of upgrading with a second baby on the way.
By: raspberry
Its a 3.0L V6 with 185xxx kms on it, mostly highway. Undercoated every year, never winter driven (i live in the maritimes where most cars of this age are rusted out from salt and snow). Tires still have plenty of tread on them. Very clean, interior of car looks almost new. Burgundy color with red interior. Brand new brake line, fuel line, idle air control motor and spark plugs. Recent battery and starter. Spare tire in the trunk is brand new (used once) and is a full sized tire. Inspection good til June 2009. Absolutely no rust on the body, rocker panels are completely solid. Easy on gas, smooth and quiet ride. Doesn't burn oil - don't let the year of the car fool you - it's been lady driven since it was bought brand new. I enjoy driving this car but am just thinking of upgrading with a second baby on the way.
By: raspberry
will northern rock pass on interest rate cut?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2124)
do you think northern rock will pass on the interest rate cut?
By: back by popular demand
By: back by popular demand
2009 Oscar Predictions: Best Picture ?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2873)
Here are eight movies which are expected to be contenders for 2009 Oscar Predictions: Best Picture.
http://ping.fm/GBiCW
I need to know which is most likely to make it.
Would you suggest any other movies or links from where I can know.
http://ping.fm/GBiCW
I need to know which is most likely to make it.
Would you suggest any other movies or links from where I can know.
Royal Rumble 2009 match predictions and Wrestlemania25 predictions?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2867)
feel free to give your match predictions.
MERRY CHRISTMAS!!! from the Khali Kiss Cam!!
MERRY CHRISTMAS!!! from the Khali Kiss Cam!!
What pop culture predictions do you have for 2009?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2841)
It can be in the area of entertainment, sports, fads, music, or whatever popular culture areas you can imagine.
free Aries Horoscope 2009 predictions. How to git it?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2835)
HI
I am looking for Aries horoscope 2009. Is there any website to get it free.
Please help.
I am looking for Aries horoscope 2009. Is there any website to get it free.
Please help.
Recession : With War or Without it ? Isrel vrs Iran// War - and US?
(My Original Blog Post: -*http://www.latesttrendsguide.com/?p=2350)
Recession: With War or Without It?
by Gary North
by Gary North
DIGG THIS
The world's economy has been in growth mode at least since 1991. China has been in growth mode since 1979. The American economy had a sharp recession in 1991. Asia had a financial crisis in 1998. America had a very brief, very shallow recession in 2001. The Federal Reserve System pumped in money at an accelerating rate after mid-2000 through 2004, and did not go to tight money until the month Bernanke took over: February 2006. Inflation overcame the recession of 2001, and it overcame the crisis of 9/11, but it created the housing bubble and the commodity bubble.
The housing bubble has popped. This is going to take the price of housing in the United States lower than it is today. I think 20% lower is a conservative figure. We are nowhere near the end of this popped bubble.
The commodity bubble is still in full force. It is a worldwide bubble. The price of energy and the price of rice and other food commodities have received most of the attention.
Federal Reserve policy since early 2006 has been one of relatively stable money. There is a lot of chatter to the contrary, but if we look at the two most significant monetary indicators, the adjusted monetary base and M1, we see that there has been very little growth in either. This is why the United States is now either in a recession or is facing one in the next few months. When a period of monetary inflation ends, economies go into recession. The American economy is slowing down, and it will continue to slow down.
Both China and India have expanded their money supplies dramatically for a decade. Both countries are now facing a crisis of rising prices. Price inflation is a major threat to the continued prosperity of both countries.
China's government has begun to impose selective price controls. This is creating shortages and production bottlenecks. India's government is considering doing the same thing. What both governments need to do is to tell their central banks to cease buying all government debt and all assets of any kind. The central banks need to stop inflating the money supply. But if the banks do this, both countries will experience major recessions. The governments do not want to have major recessions, but they also do not want to experience the effects of monetary inflation: price inflation. So, both of them are tempted to go back to the traditional policy of imposing price controls. This always creates shortages, and it always reduces the rate of growth of the economy. China and India are trapped.
AN INTERNATIONAL TRAP
The United States is in the same trap. The headlines scream of the skyrocketing costs of energy and food, but the broader consumer price indexes indicate slow increases: maybe 3% a year. This is because families are readjusting their budgets. As the prices of gasoline and food rise, families are forced to cut back expenditures in other areas. So, the general price indexes are not rising dramatically, but families are struggling with their budgets.
This struggle will get much worse this winter, when the price of heating oil rises. This will exacerbate the existing economic slowdown. Furthermore, the rising price of oil means a rising balance of payments deficit for the United States. Oil-exporting countries are the main beneficiaries of the rising price of oil. This means that foreign sellers of oil will get the lion's share of the increase of the price of oil. American producers will pay for the prosperity of the oil exporting countries. They will pay in the form of reduced demand for their products.
The world is facing simultaneous recession. Meanwhile, the American financial system has absorbed hundreds of billions of dollars of IOUs from home buyers who cannot possibly pay off their debts. They are in the process of defaulting to the lenders. This has created a crisis for America's largest banks, and for several major European banks.
We all know the story by now, but psychologically, most Americans have not adjusted to the new economic reality. Most investors have not adjusted. Yes, the American stock market is down by 20% since last October. But still they think a recovery is just around the corner. The media keep saying this. American investors still have faith that the economy is essentially healthy, that there will not be a continuing fall in the stock market, and that the economy will not go into recession and stay in the recession for two or more years.
So far, I am giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy.
Why is this good news? Because this recession is going to put a cap on the rising cost of energy. Commodity prices will fall during the recession; this includes the price of oil.
NO MORE FISCAL WIGGLE ROOM
Americans have steadily stopped saving over the last 28 years. In 1981, they saved over 11% of their discretionary income. Today, they save nothing. They are now in full spending mode. They have borrowed money against their future income, against their home equity, and on simple promises to pay (signature loans: credit cards). They have stretched themselves thin with respect to debt.
If oil goes to $400 a barrel, or $500 a barrel, and stays there for a year, American consumers will be in panic mode. They will have to cut their budgets, and they have forgotten how to cut their budgets. They have forgotten how to save.
The strategy of the optimists is to tell us that the worst is over economically. This is the government's official position. Chairman Ben Bernanke does not say this. He keeps hinting of more trouble to come. He keeps telling us that the Federal Reserve System is monitoring events. He keeps implying that there is some sort of rabbit still remaining in the Federal Reserve System's hat which they can pull out if the banking system moves into paralysis mode. But he doesn't tell us what these rabbits are, or under what conditions the FED will pull them out of its hat.
The good news regarding the economy in general is not backed up by anything specific. The government tells us that the worst is over, but there are almost no indications that the worst is over. The housing market is still in decline. Foreclosures are still rising rapidly. The lenders are not selling foreclosed properties at market prices. Instead, they keep buying back the properties. There is a growing inventory of unsold properties on the books of the lenders. Meanwhile the two major sources of liquidity for the housing market, Fannie Mae and Freddie Mac, are verging on bankruptcy. On Wednesday, July 9, the stock price of Freddie Mac dropped by 23%. Yet its stock price was down over 50% since January. These two stocks have continued to fall.
Everywhere we look on the horizon of the domestic economy, there is bad news. There is no sector of the economy that is improving, unless it is heavily funded by the Federal government. Health care has not slumped, because health care as funded by Medicare and other state and local government programs.
This means that the Federal deficit is going to get worse in any recession. Medicare and Social Security are non-discretionary spending items. The revenues will fall. So, the supposed strength sectors of the economy are in fact guarantees of a government fiscal crisis. If the general economy slumps, the Federal deficit is likely to go over $500 billion a year.
When the recession hits, commodity prices will fall. If the recession does not hit, commodity prices will continue to rise. But rising commodity prices will force bankruptcies in those firms that are not in a position to pass on increased costs to their consumers. This means industries associated with discretionary spending. If your company is dependent upon discretionary spending by the public, your job is at risk. If the recession hits, your company will suffer. If the recession doesn't hit, rising commodity prices will squeeze your company. Consumers will spend their money for gasoline and heating oil, not on the products or services your company produces.
The boom economy has not been based primarily on non-discretionary income. The boom has come at the margin: those areas of the economy in which consumers do have the option of spending their money rather than saving it.
So far, I have been giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy.
THE BAD NEWS
The bad news is that the State of Israel is increasingly likely to launch an air strike on suspected Iranian nuclear weapons production facilities.
I have discussed this before. If this happens, the price of oil will skyrocket. This will force massive readjustments of family budgets in every country on a permanent basis. This is going to force producers to fire people out of fear of bankruptcy. Consumers are going to stop buying much in the area of discretionary income. That is, those items that can be cut back will be cut back.
This could mean you.
If the State of Israel launches an attack on Iran, the economic news will get really bad really fast all over the world. So, the most important question today is whether or not the Israeli Air Force will attack Iran. From an economic standpoint, this is the crucial question.
Here, too, the mainstream media have generally promoted optimism. They suggest that the Israelis will not attack Iran. The problem is, they can't point to anything specific that officials in the State of Israel have said that indicates that there will not be an attack. On the contrary, officials there keep saying "no comment."
Something else is really ominous. The political leaders in the countries over which Israeli bombers will have to fly are deadly silent. They are not telling Israel in full public view that if Israel sends planes over their airspace, they will go to war with Israel. They are not saying that they are preparing right now to shoot down every Israeli plane that flies over their airspace. They are saying nothing. Why? I think the main reason is that they will not back up their words with deeds. They will not shoot down Israeli planes. They say nothing in public because they will do nothing if the overflights take place. If they go public with bellicose threats today, their own people will turn on them if they fail to back up their words with deeds if the flights take place. "You said you would do something. You did nothing. Get out!" This could start internal revolutions in the overflown countries. Silence is golden. It's yellow, but it's golden.
This tells me that the overflight countries' leaders think the attack may take place. They would prefer to be accused of having been caught flat-footed by the Israeli Air Force than unwilling to back up a threat.
American officials are offering the bipartisan line: "We must settle this through diplomacy." (To which Israeli government officials can respond, Tonto-like: "Who you mean we, paleface?") They are not saying anything about what sanctions against the State of Israel that America will impose as soon as Israeli jets bomb Iran. That is because there will be no such sanctions.
Admiral Mullen supposedly sent Israel a statement in early July saying that the United States has not issued a green light for an Israeli attack on Iran. This supposedly means something important in itself. It means nothing in itself. What it means is the United States has not issued a red light against an Israeli attack on Iran. This means that there is no stop sign. There is no red light, so the absence of a green light means nothing.
Of course no one has said that the United States will help Israel in such an attack. So what? Israeli officials are not asking for a public offer of American help. If the United States and those governments over which the Israeli Air Force must fly are not issuing public statements at this time warning that there will be significant negative sanctions imposed on the State of Israel as soon as the attack is launched, then this is an implied green light.
Do we imagine that senior decision-makers in the Israeli government care a whit about the lack of an official American green light to their attack on Iran? They are as unconcerned about the lack of a green light as Iran is unconcerned about President Bush's threat of sanctions if Iran does not comply with all requirements announced by the Bush administration. Iran knows what Israel knows: the Bush administration is terminal. It will end on January 20, 2009. It has no teeth. Lame ducks don't bite. They merely squawk.
Why should we think that either Iran or Israel gives a fig about the red light/green light debate? American pundits may think this debate is important, but why should anyone with common sense think it's important?
TIMETABLES
Iraq has announced that the United States must pull out its troops. It is demanding dates for this withdrawal. The Bush administration is pooh-poohing all this, and will not under any circumstances announce such a timetable, but so what? There is a timetable for the Bush administration's withdrawal: January 20, 2009.
This means that the United States is going to be pressured by Iraq's government to leave Iraq from now on. Most of the troops will be forced to leave Iraq unless things change dramatically. Then what will be done with the 14 major military bases that have been built?
As the pressure increases to force us to leave Iraq, and as the pressure from the Taliban increases in Afghanistan, and as the pressure from voters increases to get our troops out of both countries, and as the likelihood of the election of Obama increases, decision-makers in the State of Israel are caught between the proverbial rock and a hard place.
If the United States pulls out of the region, the State of Israel will be left high and dry. But there is another possible scenario. If Iran's surrogate Shia forces in the region take on the United States troops in reaction to an Israeli attack on Iran, American public opinion will swing in favor of keeping the troops there, no matter what. "Who do those Iranians think they are? We issued no green light to the Israelis. It's not our fault." If Iran begins to supply weapons to Shia forces in Iraq and Afghanistan, and the American death rate goes up, then American voters will switch back to a pro-war position. At least, this is a possibility. Americans do not like to be pushed around.
Any escalation of war in the region will create havoc for the supply of oil. The world economy is moving into recession already; it may go into a true depression if oil goes to $500 and stays there. So, the stakes are enormous.
The outcome is no longer in the hands of the United States, Europe, Asia, or any of the other outsiders to the Middle East. The outcome, or at least the trigger, is completely in the hands of the decision-makers in the State of Israel. They hold the gun.
Unless the United States and Western Europe tell the decision-makers in the State of Israel that Europe and the United States will impose significant negative sanctions after an attack on Iran, then decision-makers there are going to make a decision based on the self-interest of the ruling party, not the self-interest of American or European voters. They are going to take care of their perceived problem, exactly as we would expect any other national political leaders would take care of their problem.
That's why all talk about war being a threat to the self-interest of the whole makes sense only if the Israelis conclude that the economic crisis will be so severe that it will take them down in the whirlpool of economic collapse. They are not afraid of military retaliation from Iran. They are also not afraid of the United States, Europe, Asia, or any other coalition that does not have the backbone to say in advance that there will be major sanctions placed on the State of Israel if there is an attack on Iran.
This is why I am concerned about the threat of an Israeli attack on Iran. I am in no way calmed by statements attributed to Admiral Mullen. When Admiral Mullen holds a press conference and says publicly that there is no green light for an attack by the Israeli Air Force on Iran, and that any flyover of Iraq by Israeli planes will lead to shoot downs of Israeli planes by American planes, then I will stop worrying about the threat of an attack on Iran by the Israeli Air Force. How likely do you think such a press conference is?
We must face reality: the decision to go to war with Iran is 100% in the hands of Israeli decision-makers. It is not in the hands of the United States, Europe, or Asia. In other words, the economic fate of the West over the next decade is now in the hands of decision-makers who are concerned about the long-term survival of their own country. They are concerned because they do not want to have Iran in the possession of nuclear weapons. Both candidates for President have said the same thing.
We have seen saber-rattling by the Iranians with the film-doctored test of the missiles this week. These missiles are militarily useless as weapons against the Israelis. They are as irrelevant militarily as Germany's V-2 missiles were in 1945. They cannot inflict enough damage to make a difference, unless they are used against Saudi Arabian oil fields. But, if they had a nuclear warhead, that would make all the difference. The Israelis know this. So, they are going to make their decision in terms of this long-term threat.
The main inhibition against an attack is the possible collapse of the Western economy, which buys Israeli-produced goods. This threat may be sufficient to keep them from attacking. I dearly hope that it is. But it is naïve to believe that they are going to make their decision because of worries about whether Admiral Mullen has issued a green light or not.
CONCLUSION
When you invest your money, do not ignore the worst-case scenario. Set aside some of your money on the assumption that the worst-case will come true. This is what any military strategist does. He makes his decisions in terms of what the enemy can do, not what it would be convenient for the enemy to do.
I suggest that you be aware of this threat. I suggest that you sit down with the family budget and outline what your response would be if the price of gasoline were $10 a gallon or $15 a gallon or $20 a gallon. What would you do? I know what you would do. You would drive less.
Ignore the happy-face assessments of the geopolitical strategists. Ignore the happy-face assessment of the Secretary of the Treasury, Henry "Goldman Sachs" Paulson. These assessments are being issued to keep panic from spreading.
I am doing my best to encourage people to take rational steps with some of their liquid assets: to hedge themselves against the possibility that there will be an attack on Iran before January 20, 2009. This doesn't mean that I think such an attack is a sure thing. Decision-makers in the State of Israel are going to have to live with $400 oil, just like all the rest of us. They may decide that this risk is too great. They may decide to put up with the threat of a future nuclear-armed Iran. I won't bet all of my money on this. I don't think you should either.
July 12, 2008
Gary North [send him mail] is the author of Mises on Money. Visit http://www.garynorth.com.
By: MISES.ORG
by Gary North
by Gary North
DIGG THIS
The world's economy has been in growth mode at least since 1991. China has been in growth mode since 1979. The American economy had a sharp recession in 1991. Asia had a financial crisis in 1998. America had a very brief, very shallow recession in 2001. The Federal Reserve System pumped in money at an accelerating rate after mid-2000 through 2004, and did not go to tight money until the month Bernanke took over: February 2006. Inflation overcame the recession of 2001, and it overcame the crisis of 9/11, but it created the housing bubble and the commodity bubble.
The housing bubble has popped. This is going to take the price of housing in the United States lower than it is today. I think 20% lower is a conservative figure. We are nowhere near the end of this popped bubble.
The commodity bubble is still in full force. It is a worldwide bubble. The price of energy and the price of rice and other food commodities have received most of the attention.
Federal Reserve policy since early 2006 has been one of relatively stable money. There is a lot of chatter to the contrary, but if we look at the two most significant monetary indicators, the adjusted monetary base and M1, we see that there has been very little growth in either. This is why the United States is now either in a recession or is facing one in the next few months. When a period of monetary inflation ends, economies go into recession. The American economy is slowing down, and it will continue to slow down.
Both China and India have expanded their money supplies dramatically for a decade. Both countries are now facing a crisis of rising prices. Price inflation is a major threat to the continued prosperity of both countries.
China's government has begun to impose selective price controls. This is creating shortages and production bottlenecks. India's government is considering doing the same thing. What both governments need to do is to tell their central banks to cease buying all government debt and all assets of any kind. The central banks need to stop inflating the money supply. But if the banks do this, both countries will experience major recessions. The governments do not want to have major recessions, but they also do not want to experience the effects of monetary inflation: price inflation. So, both of them are tempted to go back to the traditional policy of imposing price controls. This always creates shortages, and it always reduces the rate of growth of the economy. China and India are trapped.
AN INTERNATIONAL TRAP
The United States is in the same trap. The headlines scream of the skyrocketing costs of energy and food, but the broader consumer price indexes indicate slow increases: maybe 3% a year. This is because families are readjusting their budgets. As the prices of gasoline and food rise, families are forced to cut back expenditures in other areas. So, the general price indexes are not rising dramatically, but families are struggling with their budgets.
This struggle will get much worse this winter, when the price of heating oil rises. This will exacerbate the existing economic slowdown. Furthermore, the rising price of oil means a rising balance of payments deficit for the United States. Oil-exporting countries are the main beneficiaries of the rising price of oil. This means that foreign sellers of oil will get the lion's share of the increase of the price of oil. American producers will pay for the prosperity of the oil exporting countries. They will pay in the form of reduced demand for their products.
The world is facing simultaneous recession. Meanwhile, the American financial system has absorbed hundreds of billions of dollars of IOUs from home buyers who cannot possibly pay off their debts. They are in the process of defaulting to the lenders. This has created a crisis for America's largest banks, and for several major European banks.
We all know the story by now, but psychologically, most Americans have not adjusted to the new economic reality. Most investors have not adjusted. Yes, the American stock market is down by 20% since last October. But still they think a recovery is just around the corner. The media keep saying this. American investors still have faith that the economy is essentially healthy, that there will not be a continuing fall in the stock market, and that the economy will not go into recession and stay in the recession for two or more years.
So far, I am giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy.
Why is this good news? Because this recession is going to put a cap on the rising cost of energy. Commodity prices will fall during the recession; this includes the price of oil.
NO MORE FISCAL WIGGLE ROOM
Americans have steadily stopped saving over the last 28 years. In 1981, they saved over 11% of their discretionary income. Today, they save nothing. They are now in full spending mode. They have borrowed money against their future income, against their home equity, and on simple promises to pay (signature loans: credit cards). They have stretched themselves thin with respect to debt.
If oil goes to $400 a barrel, or $500 a barrel, and stays there for a year, American consumers will be in panic mode. They will have to cut their budgets, and they have forgotten how to cut their budgets. They have forgotten how to save.
The strategy of the optimists is to tell us that the worst is over economically. This is the government's official position. Chairman Ben Bernanke does not say this. He keeps hinting of more trouble to come. He keeps telling us that the Federal Reserve System is monitoring events. He keeps implying that there is some sort of rabbit still remaining in the Federal Reserve System's hat which they can pull out if the banking system moves into paralysis mode. But he doesn't tell us what these rabbits are, or under what conditions the FED will pull them out of its hat.
The good news regarding the economy in general is not backed up by anything specific. The government tells us that the worst is over, but there are almost no indications that the worst is over. The housing market is still in decline. Foreclosures are still rising rapidly. The lenders are not selling foreclosed properties at market prices. Instead, they keep buying back the properties. There is a growing inventory of unsold properties on the books of the lenders. Meanwhile the two major sources of liquidity for the housing market, Fannie Mae and Freddie Mac, are verging on bankruptcy. On Wednesday, July 9, the stock price of Freddie Mac dropped by 23%. Yet its stock price was down over 50% since January. These two stocks have continued to fall.
Everywhere we look on the horizon of the domestic economy, there is bad news. There is no sector of the economy that is improving, unless it is heavily funded by the Federal government. Health care has not slumped, because health care as funded by Medicare and other state and local government programs.
This means that the Federal deficit is going to get worse in any recession. Medicare and Social Security are non-discretionary spending items. The revenues will fall. So, the supposed strength sectors of the economy are in fact guarantees of a government fiscal crisis. If the general economy slumps, the Federal deficit is likely to go over $500 billion a year.
When the recession hits, commodity prices will fall. If the recession does not hit, commodity prices will continue to rise. But rising commodity prices will force bankruptcies in those firms that are not in a position to pass on increased costs to their consumers. This means industries associated with discretionary spending. If your company is dependent upon discretionary spending by the public, your job is at risk. If the recession hits, your company will suffer. If the recession doesn't hit, rising commodity prices will squeeze your company. Consumers will spend their money for gasoline and heating oil, not on the products or services your company produces.
The boom economy has not been based primarily on non-discretionary income. The boom has come at the margin: those areas of the economy in which consumers do have the option of spending their money rather than saving it.
So far, I have been giving you the good news. The good news is there is going to be an international recession, rising corporate bankruptcies, bank failures, and retrenchment by consumers because they can no longer pay the rising cost of energy.
THE BAD NEWS
The bad news is that the State of Israel is increasingly likely to launch an air strike on suspected Iranian nuclear weapons production facilities.
I have discussed this before. If this happens, the price of oil will skyrocket. This will force massive readjustments of family budgets in every country on a permanent basis. This is going to force producers to fire people out of fear of bankruptcy. Consumers are going to stop buying much in the area of discretionary income. That is, those items that can be cut back will be cut back.
This could mean you.
If the State of Israel launches an attack on Iran, the economic news will get really bad really fast all over the world. So, the most important question today is whether or not the Israeli Air Force will attack Iran. From an economic standpoint, this is the crucial question.
Here, too, the mainstream media have generally promoted optimism. They suggest that the Israelis will not attack Iran. The problem is, they can't point to anything specific that officials in the State of Israel have said that indicates that there will not be an attack. On the contrary, officials there keep saying "no comment."
Something else is really ominous. The political leaders in the countries over which Israeli bombers will have to fly are deadly silent. They are not telling Israel in full public view that if Israel sends planes over their airspace, they will go to war with Israel. They are not saying that they are preparing right now to shoot down every Israeli plane that flies over their airspace. They are saying nothing. Why? I think the main reason is that they will not back up their words with deeds. They will not shoot down Israeli planes. They say nothing in public because they will do nothing if the overflights take place. If they go public with bellicose threats today, their own people will turn on them if they fail to back up their words with deeds if the flights take place. "You said you would do something. You did nothing. Get out!" This could start internal revolutions in the overflown countries. Silence is golden. It's yellow, but it's golden.
This tells me that the overflight countries' leaders think the attack may take place. They would prefer to be accused of having been caught flat-footed by the Israeli Air Force than unwilling to back up a threat.
American officials are offering the bipartisan line: "We must settle this through diplomacy." (To which Israeli government officials can respond, Tonto-like: "Who you mean we, paleface?") They are not saying anything about what sanctions against the State of Israel that America will impose as soon as Israeli jets bomb Iran. That is because there will be no such sanctions.
Admiral Mullen supposedly sent Israel a statement in early July saying that the United States has not issued a green light for an Israeli attack on Iran. This supposedly means something important in itself. It means nothing in itself. What it means is the United States has not issued a red light against an Israeli attack on Iran. This means that there is no stop sign. There is no red light, so the absence of a green light means nothing.
Of course no one has said that the United States will help Israel in such an attack. So what? Israeli officials are not asking for a public offer of American help. If the United States and those governments over which the Israeli Air Force must fly are not issuing public statements at this time warning that there will be significant negative sanctions imposed on the State of Israel as soon as the attack is launched, then this is an implied green light.
Do we imagine that senior decision-makers in the Israeli government care a whit about the lack of an official American green light to their attack on Iran? They are as unconcerned about the lack of a green light as Iran is unconcerned about President Bush's threat of sanctions if Iran does not comply with all requirements announced by the Bush administration. Iran knows what Israel knows: the Bush administration is terminal. It will end on January 20, 2009. It has no teeth. Lame ducks don't bite. They merely squawk.
Why should we think that either Iran or Israel gives a fig about the red light/green light debate? American pundits may think this debate is important, but why should anyone with common sense think it's important?
TIMETABLES
Iraq has announced that the United States must pull out its troops. It is demanding dates for this withdrawal. The Bush administration is pooh-poohing all this, and will not under any circumstances announce such a timetable, but so what? There is a timetable for the Bush administration's withdrawal: January 20, 2009.
This means that the United States is going to be pressured by Iraq's government to leave Iraq from now on. Most of the troops will be forced to leave Iraq unless things change dramatically. Then what will be done with the 14 major military bases that have been built?
As the pressure increases to force us to leave Iraq, and as the pressure from the Taliban increases in Afghanistan, and as the pressure from voters increases to get our troops out of both countries, and as the likelihood of the election of Obama increases, decision-makers in the State of Israel are caught between the proverbial rock and a hard place.
If the United States pulls out of the region, the State of Israel will be left high and dry. But there is another possible scenario. If Iran's surrogate Shia forces in the region take on the United States troops in reaction to an Israeli attack on Iran, American public opinion will swing in favor of keeping the troops there, no matter what. "Who do those Iranians think they are? We issued no green light to the Israelis. It's not our fault." If Iran begins to supply weapons to Shia forces in Iraq and Afghanistan, and the American death rate goes up, then American voters will switch back to a pro-war position. At least, this is a possibility. Americans do not like to be pushed around.
Any escalation of war in the region will create havoc for the supply of oil. The world economy is moving into recession already; it may go into a true depression if oil goes to $500 and stays there. So, the stakes are enormous.
The outcome is no longer in the hands of the United States, Europe, Asia, or any of the other outsiders to the Middle East. The outcome, or at least the trigger, is completely in the hands of the decision-makers in the State of Israel. They hold the gun.
Unless the United States and Western Europe tell the decision-makers in the State of Israel that Europe and the United States will impose significant negative sanctions after an attack on Iran, then decision-makers there are going to make a decision based on the self-interest of the ruling party, not the self-interest of American or European voters. They are going to take care of their perceived problem, exactly as we would expect any other national political leaders would take care of their problem.
That's why all talk about war being a threat to the self-interest of the whole makes sense only if the Israelis conclude that the economic crisis will be so severe that it will take them down in the whirlpool of economic collapse. They are not afraid of military retaliation from Iran. They are also not afraid of the United States, Europe, Asia, or any other coalition that does not have the backbone to say in advance that there will be major sanctions placed on the State of Israel if there is an attack on Iran.
This is why I am concerned about the threat of an Israeli attack on Iran. I am in no way calmed by statements attributed to Admiral Mullen. When Admiral Mullen holds a press conference and says publicly that there is no green light for an attack by the Israeli Air Force on Iran, and that any flyover of Iraq by Israeli planes will lead to shoot downs of Israeli planes by American planes, then I will stop worrying about the threat of an attack on Iran by the Israeli Air Force. How likely do you think such a press conference is?
We must face reality: the decision to go to war with Iran is 100% in the hands of Israeli decision-makers. It is not in the hands of the United States, Europe, or Asia. In other words, the economic fate of the West over the next decade is now in the hands of decision-makers who are concerned about the long-term survival of their own country. They are concerned because they do not want to have Iran in the possession of nuclear weapons. Both candidates for President have said the same thing.
We have seen saber-rattling by the Iranians with the film-doctored test of the missiles this week. These missiles are militarily useless as weapons against the Israelis. They are as irrelevant militarily as Germany's V-2 missiles were in 1945. They cannot inflict enough damage to make a difference, unless they are used against Saudi Arabian oil fields. But, if they had a nuclear warhead, that would make all the difference. The Israelis know this. So, they are going to make their decision in terms of this long-term threat.
The main inhibition against an attack is the possible collapse of the Western economy, which buys Israeli-produced goods. This threat may be sufficient to keep them from attacking. I dearly hope that it is. But it is naïve to believe that they are going to make their decision because of worries about whether Admiral Mullen has issued a green light or not.
CONCLUSION
When you invest your money, do not ignore the worst-case scenario. Set aside some of your money on the assumption that the worst-case will come true. This is what any military strategist does. He makes his decisions in terms of what the enemy can do, not what it would be convenient for the enemy to do.
I suggest that you be aware of this threat. I suggest that you sit down with the family budget and outline what your response would be if the price of gasoline were $10 a gallon or $15 a gallon or $20 a gallon. What would you do? I know what you would do. You would drive less.
Ignore the happy-face assessments of the geopolitical strategists. Ignore the happy-face assessment of the Secretary of the Treasury, Henry "Goldman Sachs" Paulson. These assessments are being issued to keep panic from spreading.
I am doing my best to encourage people to take rational steps with some of their liquid assets: to hedge themselves against the possibility that there will be an attack on Iran before January 20, 2009. This doesn't mean that I think such an attack is a sure thing. Decision-makers in the State of Israel are going to have to live with $400 oil, just like all the rest of us. They may decide that this risk is too great. They may decide to put up with the threat of a future nuclear-armed Iran. I won't bet all of my money on this. I don't think you should either.
July 12, 2008
Gary North [send him mail] is the author of Mises on Money. Visit http://www.garynorth.com.
By: MISES.ORG
what's the current minumum fico score for doing a stated home mortgage refinance deal?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2375)
i want to refinance my home,but my broker tells me that the minumum fico score is constantly changing,so,i want to exactly know what is the minumum score to do a stated refinance mortgage deal right now?
By: Julio A
By: Julio A
Teeth-whitening?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1739)
i've heard that lots of times when people think they are whitening their teeth they are also stripping off their enamel. are their any teeth whitening systems out there that dont do that? (ex. do crest whitestrips do that to your teeth?)
By: jared_padalecki<333
By: jared_padalecki<333
Which is a better SUV when it comes to safety, performance & fuel economy? 2009 Toyota Lexus or Toyota Rav 4?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2576)
I'm looking to buy an SUV and haven't got a clue about cars
By: Ponyride
By: Ponyride
Tuesday, December 30, 2008
Are Geronimo Stilton Books Good?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2469)
I want o know if anyone thinks the books are good because i want to buy them.
By: mary k
By: mary k
How much is required to open a pawn shop in Minnesota?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=808)
How much would I need in cash or assets to open my own pawn shop in Saint Paul, MN?
I heard that there might be a required amount needed.
By: Issac T
I heard that there might be a required amount needed.
By: Issac T
Where can I get custom Christmas Cookies?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=64)
I'm wanting cheap christmas cookies that can be customized. Something cheapish, and not something I have to make.
By: Yup69
By: Yup69
If it is a bartenders job to cut off someone who is drunk?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1508)
.......Is it a waiters job to cut off someone who is fat?
By: Dz Nutz
By: Dz Nutz
is there a 2009 toyota avalon yet, and whats its fuel economy rating?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2582)
are late 08 models sold as early 09 models?
By: Dogmeat
By: Dogmeat
Should I pre buy oil for 2008-2009?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2298)
I live in Maine were it is very cold in the winter. We can lock in the oil prices for a "discount" in June, but if the price of oil falls by next winter, we get stuck with the pre bought price.
By: Travelight
By: Travelight
Increasing oil prices and presidential candidates' solutions?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2308)
Experts predict the national, average, price, of gas, will continue to increase within the next 5years. In the summer of 2008, the national, average, price, of gas, is probably going to be at least $4.00. In the summer of 2009, the gas prices will be higher..
As gas prices increase, americans will have a harder time getting a job and buying that flat panel TV.
I think gas prices are the primary, economic, issue.
How do the presidential candidates plan to help the american economy?
By: robert f
As gas prices increase, americans will have a harder time getting a job and buying that flat panel TV.
I think gas prices are the primary, economic, issue.
How do the presidential candidates plan to help the american economy?
By: robert f
How do your players improve their ratings during a season on Madden NFL 2009?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2273)
I just played an entire season and made it to the Super Bowl. I realized that none of my players ratings had improved despite pro bowls and other awards. I am now into a new season and still I am getting the same ratings. Am I missing something because it does not make sense for a rookie quarterback to stay the same after playing an entire season.
By: kevin_scott777
By: kevin_scott777
When does the Christmas day parade start on Christmas day?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1011)
Can someone please tell me when the Christmas day parade starts and what channel it is on? It would be really appreciated! Merry Christmas and God bless you!
By: Cynthia L
By: Cynthia L
What is the password to the secret room on zwinky-Zwinktopia?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=962)
If you are on zwinky you know what im talking about. On here it says that one of the cones in all of the places is replaced by a red and white life preserver and it needs a password. What is the password to it???
By: kryspie10
By: kryspie10
What is a good piano song to play for Christmas?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2167)
Hi, my piano teacher wants me to play at our school's Christmas presentation thing. She says that she would like me to play a Christmas song. I'm not quite sure what to play because most Christmas songs aren't very complex and it wouldn't sound so great beause of the simplicity. I want to play a sort of complex song that wouldn't sound so simple, while still being a Christmas song.
So what do you think is a good song to play? Please answer.
Thanks in advance. :)
By: John S
So what do you think is a good song to play? Please answer.
Thanks in advance. :)
By: John S
Branding Trends for 2009 -- Consumer Interviews and G-Ometer Report
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2830)
Change was on everyone's lips in 2008, and it is coming with a vengeance in 2009. With the economy in a free-fall, the business of brand planning has never been so uncertain. We hit the streets to talk directly to consumers. We also spoke to one of New York's Guru's of the future, Judy Galloway, the brains behind the G-Ometer Report, which has a finger on the pulse of culture and the markets, and an eye on the horizon. This video presents key insights for business in 2009.
Change was on everyone's lips in 2008, and it is coming with a vengeance in 2009. With the economy in a free-fall, the business of brand planning has never been so uncertain. We hit the streets to talk directly to consumers. We also spoke to one of New York's Guru's of the future, Judy Galloway, the brains behind the G-Ometer Report, which has a finger on the pulse of culture and the markets, and an eye on the horizon. This video presents key insights for business in 2009.
I need a job?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2815)
I'm 19. I am currently unemployed. Cant afford college right now. I used to work fast food and I don't desire to do it again. I'd like to get a steady office job or something that keeps my attention. I once thought a flight attendant but I heard you need to know how to swim and I don't. I also once thought a photographer. I need to get any job. But no one has even nibbled at my application. I only have a year and a half of experience.. I just hate letting my family down and its getting me very depressed. I've noticed that people ask "So, where are you workin'?" an awful lot.. I live in northern IL. Closest big city is Rockford. Anyone have any advise or positive encouragement?
I did go to college for 1 semester. I took graphic arts and photoshop. I got A's in both. I also took english 101, psychology, and choir
By: Jane
I did go to college for 1 semester. I took graphic arts and photoshop. I got A's in both. I also took english 101, psychology, and choir
By: Jane
Want to read a little story?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2334)
2010 Was Not A Good Year To Be President
Welcome to Toastmasters, June 13, 2033. That's right: 2033.
Today Rick Campbell, one of our senior members at age 87, is here to reminisce a bit and give us a history lesson. He says he is so old that he learned to drive an internal combustion engine car (remember those) with a manual transmission. He once owned a typewriter. He remembers when bicycles had one speed, phones had two-party lines, and cameras had something called film. As incredible as this may seem, he says that when he was young, it was common for people to smoke in restaurants and public places. He is from a different time; almost a different world.
I'm sure all of us are far too familiar with the tragic events of 2010, so Rick is not going to plow that fertile field again. Instead, he is going to give us a personal look back at the conditions which led up to that fateful year, in a speech titled "2010 Was Not A Good Year To Be President."
"2010 Was Not A Good Year To Be President"
Yes, 2010 was long ago and far away.
As we look back on history, it appears that some Presidents had an easy ride- times of growth and stability. Teddy Roosevelt, Warren G. Harding, Dwight Eisenhower, Bill Clinton come to mind. Those were good years to be President.
Others were elected just when the Republic was facing terrible crises:
Abraham Lincoln, Woodrow Wilson, Franklin Roosevelt, George W. Bush. They rose to the occasion, even though they were controversial and widely hated while in office. Not such good years to be President.
Just a few years prior, in 2008, the country began foundering. We were in the sixth year of the Iraqi Occupation, and the economy was flat. The mainstream press clearly wanted a Democrat elected.
Although we didn't know it until some years later, oil producing nations had colluded to secretly buy their own oil on the open market, driving oil prices to shocking levels above the true demand price- reaching a high of $162 a barrel in October, 2008, just before the general elections.
Their purpose was simple: to effect regime change in the United States.
And of course, the U.S. economy was already in a real estate slump and also suffering the curse of stagflation; slow growth and high inflation.
There were a million home foreclosures.
Independent truckers went under by the thousands.
Airlines failed. Airlines with names now long-forgotten: United, Delta, Northwestern, American. All now merged, of course, into the one lone U.S. carrier we love so much: Southwest.
Against this backdrop of weariness of the war on terror, and economic distress, the American people were ripe for a demagogue, and they certainly got one in Barack Hussein Obama.
He and his running mate Kathlene Sibelius inspired them with vague notions of hope and change; of a world in which diplomacy settled all international problems, of free universal health care, of abundant alternative energy, of peace and love.
It was a vision too good to resist.
The Republican nominee, a name you probably haven't heard in years anyone?
Yes, it was John McCain, an obscure Senator from Arizona had no clue how to run a national campaign, and a platform nearly as liberal as Obama's.
The selection of Condoleeza Rice as his running mate looked brilliant at first. Unfortunately, black voters viewed her as white, and women voters viewed her as one of the guys.
Even so, the McCain/Rice ticket would have won the election if it weren't for the fact that 16 percent of conservative Republicans voted for anyone remember? That's right, Bob Barr, another name that's a footnote in history.
After Obama's narrow win, thanks to recounts in Broward County, Florida, the country was positively giddy. A Democrat House, Senate, and President. At last an end to gridlock in Washington.
Camelot!
When Congress convened in January, 2009, the 44th President of the United States did something unique in history: he made good on his campaign promises.
Certainly most Americans never really thought he was serious during the campaign. But whether because of inexperience, idealism, or simply incompetence, he followed through.
In Obama's first One Hundred Days, the Congress passed his initiatives, and he signed them into law as he said he would.
He repealed the Bush tax cuts, and increased capital gains taxes.
He enacted a windfall profits tax, and instituted price controls on
gasoline and diesel fuel.
He passed universal health care, which added an additional 10 percent tax increase on all working Americans.
He signed the Immigrant Amnesty bill which created 12 million new citizens instantly, each with entitlements.
He closed the detention facility at Guantanamo Bay, and summarily released all the detainees.
He repealed the Patriot Act, and cut funding for espionage, and eliminated all terrorist listening and wiretaps.
Most important, he began the complete and immediate withdrawal of all American troops from Iraq.
He ignored the advice of the Joint Chiefs of Staff, who wanted to retain bases in Kuwait and Qatar. Instead, he went with the recommendation of Secretary of Defense Dennis Kucinich, and ordered all troops back to U.S. soil.
Viola! In One Hundred Days, by May of 2009, it was all done, and the vision was complete. He did exactly what he said he would do.
And so it was in the summer of 2009 that things began to unravel for Obama.
Of course, the economy needed a tax cut, not an increase, and unemployment quickly rose to 12 percent. Even attorneys and economists were put in the bread lines. Hard times!
Price con! trols on gasoline immediately led to shortages and gas lines.
The global cooling trend we have seen for the past 25 years first became obvious in 2009, exposing the CO2 global warming fraud.
People were justifiably angry.
Federal deficits increased massively because thousands of baby boomers, facing job loss and much higher taxes, simply gave up and took social security.
Although the superb U.S. health care system was thrown into disarray, the bright spot was the creation of the Federal Department of Health care, and the immediate hiring of 250,000 administrators, inspectors and auditors, the only job growth in any economic sector in 2009.
By February 2010, the U.S. military withdrawal from Iraq was complete. It was a very expensive undertaking.
And then in March, the gradual Shiite insurgencies from Iran turned into a true Iraqi civil war. In May, Iranian tanks crossed the border and quickly took Baghdad. Although the exact number is not know, at least 230,000 Sunni Iraqis died as we stood by.
Iran also quickly moved into undefended Kuwait.
President Obama did exactly what he said he would. He sent Secretary of State, Maria Cantwell, to Tehran to meet with Iranian President Ahmadinejad.
After two weeks of high level talks, the United States agreed to allow Iran to retain Iraq and Kuwait to create stability in the middle east, with the understanding that Israel would not be disturbed.
Cantwell returned to Washington, and explained the agreement in her famous speech, in which she proudly noted that the Obama administration had finally achieved "peace in our time" in the Middle East.
So there was some surprise at the rocket attacks on Tel Aviv on August 14th.
President Obama said, "This is not the Mahmoud Ahmadinejad I knew."
The Obama administration decided it would be de-stabilizing to take sides in the conflict, and approximately 29,000 Israeli civilians died during the summer and fall.
American Jews were appalled at the inaction. Yes, in 2010 most American Jews were Democrats, but because of 2010, they are solid Republicans today.
As awkward as it was, everything might have turned out all right for the Obama administration going into the fall mid-term elections of 2010, if it hadn't been for the dirty bomb in the Port of Long Beach.
The administration had cut funding for the inspection of containers,
because they felt it showed a "lack of trust" in the international trading community.
It wasn't really a very big bomb, and thank goodness, not a real nuclear device, but nonetheless it contaminated some expensive real estate-Newport Beach, Palos Verdes Estates- and ultimately caused the death of 14,000 Americans. People were especially annoyed that Disneyland had to be closed for decontamination.
And so, in the midterm elections, Republicans regained control of both the House and Senate, and the rest is history.
The impeachment proceedings against President Obama for "failure to protect and defend" were swift and nearly unanimous. Vice President&nbs! p;Sibeli us resigned. Newly-elected Speaker of the House, J.C. Watts, became the 45th President of the United States.
But you know the rest of the story well.
Republicans finished the war on Islamic fundamentalists, largely by aiming ICBM's at Mecca and Medina.
No Democrat has been elected President since.
Republicans have held both Houses of Congress.
History of Western Civilization and Economics are now taught in all public schools, and in English only.
Marriage is defined as one man and one woman.
And there are border fences, north and south.
We old codgers remember the ancient Confucian curse: "May you live in interesting times."
Well, 2010 was an interesting year, but it was not a good year to be president."
(Far fetched? We are likely to find out if we continue to be unaware of the issues and vote with our emotions rather than be studious in our approach to electing our "public officials".)
Elvira(aka nasty bi-ch)..and anyone else..I did not write a word of this, just put it out as it was foward to me..
By: celly
Welcome to Toastmasters, June 13, 2033. That's right: 2033.
Today Rick Campbell, one of our senior members at age 87, is here to reminisce a bit and give us a history lesson. He says he is so old that he learned to drive an internal combustion engine car (remember those) with a manual transmission. He once owned a typewriter. He remembers when bicycles had one speed, phones had two-party lines, and cameras had something called film. As incredible as this may seem, he says that when he was young, it was common for people to smoke in restaurants and public places. He is from a different time; almost a different world.
I'm sure all of us are far too familiar with the tragic events of 2010, so Rick is not going to plow that fertile field again. Instead, he is going to give us a personal look back at the conditions which led up to that fateful year, in a speech titled "2010 Was Not A Good Year To Be President."
"2010 Was Not A Good Year To Be President"
Yes, 2010 was long ago and far away.
As we look back on history, it appears that some Presidents had an easy ride- times of growth and stability. Teddy Roosevelt, Warren G. Harding, Dwight Eisenhower, Bill Clinton come to mind. Those were good years to be President.
Others were elected just when the Republic was facing terrible crises:
Abraham Lincoln, Woodrow Wilson, Franklin Roosevelt, George W. Bush. They rose to the occasion, even though they were controversial and widely hated while in office. Not such good years to be President.
Just a few years prior, in 2008, the country began foundering. We were in the sixth year of the Iraqi Occupation, and the economy was flat. The mainstream press clearly wanted a Democrat elected.
Although we didn't know it until some years later, oil producing nations had colluded to secretly buy their own oil on the open market, driving oil prices to shocking levels above the true demand price- reaching a high of $162 a barrel in October, 2008, just before the general elections.
Their purpose was simple: to effect regime change in the United States.
And of course, the U.S. economy was already in a real estate slump and also suffering the curse of stagflation; slow growth and high inflation.
There were a million home foreclosures.
Independent truckers went under by the thousands.
Airlines failed. Airlines with names now long-forgotten: United, Delta, Northwestern, American. All now merged, of course, into the one lone U.S. carrier we love so much: Southwest.
Against this backdrop of weariness of the war on terror, and economic distress, the American people were ripe for a demagogue, and they certainly got one in Barack Hussein Obama.
He and his running mate Kathlene Sibelius inspired them with vague notions of hope and change; of a world in which diplomacy settled all international problems, of free universal health care, of abundant alternative energy, of peace and love.
It was a vision too good to resist.
The Republican nominee, a name you probably haven't heard in years anyone?
Yes, it was John McCain, an obscure Senator from Arizona had no clue how to run a national campaign, and a platform nearly as liberal as Obama's.
The selection of Condoleeza Rice as his running mate looked brilliant at first. Unfortunately, black voters viewed her as white, and women voters viewed her as one of the guys.
Even so, the McCain/Rice ticket would have won the election if it weren't for the fact that 16 percent of conservative Republicans voted for anyone remember? That's right, Bob Barr, another name that's a footnote in history.
After Obama's narrow win, thanks to recounts in Broward County, Florida, the country was positively giddy. A Democrat House, Senate, and President. At last an end to gridlock in Washington.
Camelot!
When Congress convened in January, 2009, the 44th President of the United States did something unique in history: he made good on his campaign promises.
Certainly most Americans never really thought he was serious during the campaign. But whether because of inexperience, idealism, or simply incompetence, he followed through.
In Obama's first One Hundred Days, the Congress passed his initiatives, and he signed them into law as he said he would.
He repealed the Bush tax cuts, and increased capital gains taxes.
He enacted a windfall profits tax, and instituted price controls on
gasoline and diesel fuel.
He passed universal health care, which added an additional 10 percent tax increase on all working Americans.
He signed the Immigrant Amnesty bill which created 12 million new citizens instantly, each with entitlements.
He closed the detention facility at Guantanamo Bay, and summarily released all the detainees.
He repealed the Patriot Act, and cut funding for espionage, and eliminated all terrorist listening and wiretaps.
Most important, he began the complete and immediate withdrawal of all American troops from Iraq.
He ignored the advice of the Joint Chiefs of Staff, who wanted to retain bases in Kuwait and Qatar. Instead, he went with the recommendation of Secretary of Defense Dennis Kucinich, and ordered all troops back to U.S. soil.
Viola! In One Hundred Days, by May of 2009, it was all done, and the vision was complete. He did exactly what he said he would do.
And so it was in the summer of 2009 that things began to unravel for Obama.
Of course, the economy needed a tax cut, not an increase, and unemployment quickly rose to 12 percent. Even attorneys and economists were put in the bread lines. Hard times!
Price con! trols on gasoline immediately led to shortages and gas lines.
The global cooling trend we have seen for the past 25 years first became obvious in 2009, exposing the CO2 global warming fraud.
People were justifiably angry.
Federal deficits increased massively because thousands of baby boomers, facing job loss and much higher taxes, simply gave up and took social security.
Although the superb U.S. health care system was thrown into disarray, the bright spot was the creation of the Federal Department of Health care, and the immediate hiring of 250,000 administrators, inspectors and auditors, the only job growth in any economic sector in 2009.
By February 2010, the U.S. military withdrawal from Iraq was complete. It was a very expensive undertaking.
And then in March, the gradual Shiite insurgencies from Iran turned into a true Iraqi civil war. In May, Iranian tanks crossed the border and quickly took Baghdad. Although the exact number is not know, at least 230,000 Sunni Iraqis died as we stood by.
Iran also quickly moved into undefended Kuwait.
President Obama did exactly what he said he would. He sent Secretary of State, Maria Cantwell, to Tehran to meet with Iranian President Ahmadinejad.
After two weeks of high level talks, the United States agreed to allow Iran to retain Iraq and Kuwait to create stability in the middle east, with the understanding that Israel would not be disturbed.
Cantwell returned to Washington, and explained the agreement in her famous speech, in which she proudly noted that the Obama administration had finally achieved "peace in our time" in the Middle East.
So there was some surprise at the rocket attacks on Tel Aviv on August 14th.
President Obama said, "This is not the Mahmoud Ahmadinejad I knew."
The Obama administration decided it would be de-stabilizing to take sides in the conflict, and approximately 29,000 Israeli civilians died during the summer and fall.
American Jews were appalled at the inaction. Yes, in 2010 most American Jews were Democrats, but because of 2010, they are solid Republicans today.
As awkward as it was, everything might have turned out all right for the Obama administration going into the fall mid-term elections of 2010, if it hadn't been for the dirty bomb in the Port of Long Beach.
The administration had cut funding for the inspection of containers,
because they felt it showed a "lack of trust" in the international trading community.
It wasn't really a very big bomb, and thank goodness, not a real nuclear device, but nonetheless it contaminated some expensive real estate-Newport Beach, Palos Verdes Estates- and ultimately caused the death of 14,000 Americans. People were especially annoyed that Disneyland had to be closed for decontamination.
And so, in the midterm elections, Republicans regained control of both the House and Senate, and the rest is history.
The impeachment proceedings against President Obama for "failure to protect and defend" were swift and nearly unanimous. Vice President&nbs! p;Sibeli us resigned. Newly-elected Speaker of the House, J.C. Watts, became the 45th President of the United States.
But you know the rest of the story well.
Republicans finished the war on Islamic fundamentalists, largely by aiming ICBM's at Mecca and Medina.
No Democrat has been elected President since.
Republicans have held both Houses of Congress.
History of Western Civilization and Economics are now taught in all public schools, and in English only.
Marriage is defined as one man and one woman.
And there are border fences, north and south.
We old codgers remember the ancient Confucian curse: "May you live in interesting times."
Well, 2010 was an interesting year, but it was not a good year to be president."
(Far fetched? We are likely to find out if we continue to be unaware of the issues and vote with our emotions rather than be studious in our approach to electing our "public officials".)
Elvira(aka nasty bi-ch)..and anyone else..I did not write a word of this, just put it out as it was foward to me..
By: celly
Monday, December 29, 2008
Where do you see oil prices 1, 2 and 3 years out?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2310)
I would like in particular educated opinions that take into account supply, demand and possible predictions of a slowdown in world economies. What role does refinery capacity, shortages in less connected regions, as well as the dampening effect of higher prices.
My predictions are:
2008 $200 plus
2009 $250 plus
2010 $300 plus
By: diogenes
My predictions are:
2008 $200 plus
2009 $250 plus
2010 $300 plus
By: diogenes
Can anyone help me out with a background check?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=145)
Im 15 and i need to do a background check on my boyfriend (17) to convince my mom he is for real...i met him online. I have no money to perform the background check on him myself. So my question is.....Is there anyone out there that would be willing to help me out?? If you have an account or software or something and wouldnt mind emailing me the background check??? Please email me and i will give you his name and state and stuff.
By: Puppylove
By: Puppylove
Trends in 2009 Forecast by TREND HUNTER
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2829)
http://ping.fm/H3Jg7 - Trends in 2009 Forecast by TREND HUNTER - 2009 will be a year of dramatic change. This 2009 Forecast summarizes 20 of the top 2009 trends from TrendHunter.com and the 2009 Trend Reports. Dive deeper into the 2009 Trends forecast at http://ping.fm/LxnRm
http://ping.fm/H3Jg7 - Trends in 2009 Forecast by TREND HUNTER - 2009 will be a year of dramatic change. This 2009 Forecast summarizes 20 of the top 2009 trends from TrendHunter.com and the 2009 Trend Reports. Dive deeper into the 2009 Trends forecast at http://ping.fm/LxnRm
what are good electronic repair shops for a ps2?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=319)
my ps2 is not working because it says reading disk over and over whats the best place to get it repaired?
By: Wes
By: Wes
Whos going to watch the AFC play the Redskins in the Pro Bowl?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2267)
Anyone going to watch the 2009 Probowl starring the AFC and the Redskins? You might as well call the NFC the Redskins.
This question is in sarcasm to the 11 players voted to the pro bowl undeservingly. Wow you guys are dim.
By: Mranda G
This question is in sarcasm to the 11 players voted to the pro bowl undeservingly. Wow you guys are dim.
By: Mranda G
what's the best DSLR camera to get for a beginner?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2804)
i'm really into photography but i'm only 14 so i cant afford a reall really good one, although i'd like to buy a decent DSLR camera which isnt overly expensive. could some experienced photographers help me out ?
By: mustardgamer
By: mustardgamer
What is a good simple Turkey recipe?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=460)
First time i will be making a turkey. Any simple recipes?
By: mom_princess77
By: mom_princess77
Wella Trend Vision 2009 on NickEducation.com
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2828)
Nick Berardi former creative director of Vidal Sasson NYC and top stylist for Wella and team present the new trend called Virtual Life in Lisbon Portugal at the high profile Wella Trend Vision 2009
Nick Berardi former creative director of Vidal Sasson NYC and top stylist for Wella and team present the new trend called Virtual Life in Lisbon Portugal at the high profile Wella Trend Vision 2009
Senior Photographers in Florida?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2807)
I have to get my senior photos done this summer but where my school told us to go to i cant afforded it just for the proofs were like 700dollars. I was wanting to know if anyone knew any good photographers in Florida area! I live in Ocala,Florida
Thank You!
By: Brittey
Thank You!
By: Brittey
What movie is in your Netflix queue waiting to be shipped to you?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1081)
(ha, that rythmed)
Mine is Office Space..
By: American Beauty
Mine is Office Space..
By: American Beauty
Can any one find a ring just like this one on a UK web site?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=388)
reasonably priced?
http://ping.fm/7Ox3n
By: #2 due 29th June 09
http://ping.fm/7Ox3n
By: #2 due 29th June 09
where can i read (plz check the website for it first) geronimo stilton?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2453)
i wanna get all o geronimo stilton books online plz?
By: Hasnat T
By: Hasnat T
Stock Market Trends for 2009
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2827)
Andy Emerson and Mike Swanson of WallStreetWindow.com discuss the big long-term trends of the stock market and how to profit from them. Interestingly some of the people who were big in commodities in the 1970's such as Jim Rogers are getting big again. Oil, gold have been big plays for us this decade. If things follow suit after this bear market they will get big again. For more with stock trading lesssons and weekly commentary subscribe to the free WSW weekly newsletter at http://ping.fm/DLIWn
Andy Emerson and Mike Swanson of WallStreetWindow.com discuss the big long-term trends of the stock market and how to profit from them. Interestingly some of the people who were big in commodities in the 1970's such as Jim Rogers are getting big again. Oil, gold have been big plays for us this decade. If things follow suit after this bear market they will get big again. For more with stock trading lesssons and weekly commentary subscribe to the free WSW weekly newsletter at http://ping.fm/DLIWn
Why do people shout, "Geronimo!" before jumping out of a plane?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2443)
I see this in cartoons, when a character is about to take a leap. But what does it even mean? What's the origin?
By: GarnetCarnation
By: GarnetCarnation
Is the economy really collapsing by Feb.2009?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2592)
So the UK is on the verge of bankruptcy im sorry to hear that but what about the US?
I thought this was the economics section filled with people who have some what knowledge of ECONOMICS not silly answers and things that don;t apply to the US, Im better off at the toddlers section.
By: Morris
I thought this was the economics section filled with people who have some what knowledge of ECONOMICS not silly answers and things that don;t apply to the US, Im better off at the toddlers section.
By: Morris
2009 Forecast for Aquarius
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2826)
2009 forecast of the astrological trends for your sign and rising sign
2009 forecast of the astrological trends for your sign and rising sign
Sunday, December 28, 2008
What are the anwsers to the zwinky safety quiz in the zwinky safety room?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=952)
I really need to know. If you don't know what I'm talking about Its on zwinky.com and its the red and white ring and the pass word is zafety. HELP!
By: ~~~**Laryn*Renae**~~~
By: ~~~**Laryn*Renae**~~~
2009 Forecast for Leo
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2825)
2009 forecast of the astrological trends for your sign and rising sign
2009 forecast of the astrological trends for your sign and rising sign
Can anyone tell me if the home teeth whitening kits work?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1771)
I am wondering if the home teeth whitening kits work, and do they work on part dentures? Also why is it that some people have natural white teeth and some are a shade below?
By: Patricia G
By: Patricia G
Why do Domino's pizza put the little white table in the middle of there pizza do they actually?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1839)
Think you and your family is going to used that table to eat on?
By: red_ice_2g
By: red_ice_2g
Why did Blagojevich think he could make headway with Obama's aides, in the first place?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1884)
Obama says he never spoke with Blagojevich. But, he refused to tell the LA Times that his staff members never spoke with Blagojevich.
Why did Blagojevich think he could make headway with Obama's aides, in the first place?
By: TFG
Why did Blagojevich think he could make headway with Obama's aides, in the first place?
By: TFG
Comparing and contrasting Coyote from ?How the Buffalo Were Released on Earth? and Geronimo?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=2425)
I need help with having ENOUGH information on the Coyote and Geronimo...I am doing an online school and they don't give you very much information or help you out very well which is why i don't really like it but I need to do online school because i am stuck at home because of medical reasons.
Whoever can help me the BEST will get 10 points
By: schoolwheelycute
Whoever can help me the BEST will get 10 points
By: schoolwheelycute
Does anyone know a home remedy for cervical dysplasia?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=1379)
I had a abnormal pap, and was wondering if there is something I cna do in the meantime before I go back to the dr's next friday.... Does anyone know of any remedies so that I may help clear this up or elimate it? Thanks
By: armywifey8082
By: armywifey8082
Need turkey recipe based with fruit juices?
(My Original Blog Post: http://www.latesttrendsguide.com/?p=462)
My friend went to a Cuban thanksgiving dinner, she had based her turkey in like 4 juices, mango, orange, lemon & prunce juice, then stuffed the turkey with peeled oranges and lemons, she cooked it in a low over for 24 hours basting with fruit juices all the time, does anyone have the exact recipe that would be similar to this, she didn't know all ingredients. I would appreciate it. Thank you Marilyn
By: angelhair3854
By: angelhair3854
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