Report: Blackwater buys Brazilian-made fighter plane - USATODAY.com

Report: Blackwater buys Brazilian-made fighter plane - USATODAY.com


Does anyone see anything wrong with the whole situation with Blackwater?

Congress Gets Its Props

I have been one of the biggest critics of the Congress. I have called them do noting and lame, but I will give props where props are deserved.

The media has been allowed by president after president to be owned or controlled by corporations and senator Dorgan is trying to stop this control.

The Federal Communications Commission defied some members of Congress in 2007 by easing a ban on ownership of a newspaper and a broadcast station in the same city.

Yesterday, the lawmakers took the first step toward getting even.

The Senate Commerce Committee unanimously approved a rare "resolution of disapproval" to invalidate the FCC's new rules, as concerns about media consolidation escalated in the wake of News Corp.'s negotiations to buy a second New York newspaper.

"We really do literally have five or six major corporations in this country that determine for the most part what Americans see, hear and read every day," said Sen. Byron L. Dorgan, a Democrat from North Dakota who is the lead sponsor of the resolution. "I don't think that's healthy for our country."

Both Sen. Clinton and Obama are signed on board of this effort. The real test will be if the Prez vetoes, will they overrride.

Help The Speculators!

Recently, I heard Pres. Bush say that it was not the governments job to bail out speculators......thinking.....the bail out of Bear-Sterns is bailing out speculators. I guess he meant small speculators not the large corporations that speculate. Ask yourself, how many small businesses would the government bail out of financial trouble? That is an easy one to answer---NONE!

The free market is not working in the financial sector, it needs massive transfusion of government money. So please stop using the term, "FREE MARKET"! It is not free. Especially to the taxpayer. So it is somehow okay to use tax money to bail out corporations, but not to help Aunt Lucy with her medical problems. Where is that a country for the people?

Your vote in November, as it is shaking out, will present little relief from these governmental tactics. Don't worry. Be happy.

Bush's Economic Stimulus Package

Tonight is the big night.....The last state of The Union speech to be given by GW. He will dance around about how well his strategy in Iraq has worked. And then he will go to his new economic stimulation plan will benefit Americans and Corporations.

Let us begin with the tax rebates. The theory is that the taxpayer will go out and spend this money on consumer goods thus massaging the economy back to health. NO! This is an economic band-aid. Why? The normal taxpayer will use the rebate for their mortgage or their credit cards or something similar. The poor, who do not own a house in trouble or have the luxury of multiple credit cards, will probably spend this rebate on toys or electronic or such--consumer goods. So they will be the only ones using the money in the economy, but they will not be that effective in the slide of the economy.

Ok, let's move on to the REAL benefit of the package. Corporate Incentives. Corporate tax credits will help create jobs, according to the President. In what world does he live? Consumer demand creates jobs, not corporate tax breaks. Do you honestly believe that if a company has an extra $2 billion, that they will say darn we need to create more jobs? You are dreaming! If their is no demand, they will not invest it in production. It is just that simple.

The small amount of jobs that will be created will NOT be in the US. since almost all consumer goods are imported, from, India, China, Thailand and so on, any jobs created will be in those countries not here. The consumer goods that will be bought, like toys, china, clothing, are all made overseas. So where will these jobs be created in this country. Any jobs created will be low paying jobs and that too will be a drag on the economy.

The real questions that should be asked are: we have a $7 trillion deficit and this package will cost about $140 billion, where will the money come from to pay for this plan? If they print more money, then that will be yet another drag on the economy. In the past, how many high paying jobs have past corporate tax cuts created? Not enough!

IMO, Bush's plan is just a way to make the economy look good for a short period of time. until he is out of office and then when the economy tanks, someone else will be in office and will take the blame.

Do not be ignorant! This plan is a band-aid for a gunshot wound. There is no way it can be a good thing for the future. Someone will have to pay for this plan.

Is Recession Coming?

According to Goldman/Sachs it is and will last awhile. But this prediction comes from a company that gives a bonus of $68 million to its CEO. Just had to throw that in....for effect. The Fed will most likely cut rates again, maybe by a half a point. That should entice investors to go hog wild on the markets. Since the markets are falling like a skydiver without a chute, something will have to be done to protect the investors.

All this is just ducky, if you are investing heavily in the markets. But what about Joe Sixpack who lives on Wisteria Lane? What is being done to help them face the economic crunch? He/she is facing rising food costs, rising gas prices, jobs loss, a credit crunch, and a housing dilemma; so what is the FED doing to help the real person struggling to provide for their family?

Consumers, average working Joes and Joans, make up 66% of the economy, but yet they are totally ignored until it is advantageous to report on them.

A coming recession? If you are a worker--you are already in a massive, deep recession. Can this be changed? Hell yes, but you will have to vote for change...unfortunately, I see little change coming for the average American, no matter who or which party is elected. Buck up!

What About Worker Inflation?

Most reports one see or reads in the media has a better than average outlook for the economy, but those outlooks are geared toward investors, not humans.

Let us look at realities for the average working stiff in the US.

Food costs are up
Gas prices are up
housing is sagging
unemployment is up
retail sales flat
plant closings
jobs lost

These are all things that effect the workers of this country and yet we are told constantly that all is well and the economy is looking good. Who decides that for the average worker? Ask anyone, other than some hot shot investor and you will get the answer that all is not well. And the prospects of improvement are not looking good. The average working family is basically living on credit and eventually that is gonna bite everybody in the butt.

I know reality bites!

You Wanna Another Raise?

Not at work! The US deficit has reached another all-time high. $9 trillion, I believe. That means we are looking at another ceiling raise to compensate for this spending. BTW, the ceiling has been raised 5 times with Bush at the helm. So much for Repubs being for smaller government.

He recently, Bush that is, vetoed a massive water bill because he said it was too expensive. Did I miss something? But yet, the billions upon billions thrown at Iraq and Afghanistan is money will spent? The water bill was probably full of pork in one form or another and I would agree that it that is the case then trim that sh*t and go again. You guys voted for these ass wads, are you happy now?

Yesterday, the Dow lost 360 points, ouch! They say it is because of the sub-prime debacle. Actually the sub-prime lenders are under investigation and the sell off was the hedge funds running for cover. Rats deserting a sinking ship, if you will.

NOTE: There has been a few predictions that inflation will return. First of all, let me give you a little knowledge. The two most important things to the consumer is gas and food. These go up and seldom come down, but when the government figures the inflation rate these two are not part of the equation. Why? They say those markets are too volatile to be used to get an accurate picture of the economy. Really? Those two markets tell the story, these are the things that effect the people more than anything else. But we do not use it to keep the markets stable and profitable.

Just thought you might like to know.

Peace--Out!

CHUQ

This is a reprint from my other blog, Political rhetoric.