Posted on 2010 03, 22 by duo
By HammerTongs
Cover of All Things Must Pass [DIGI-PAK EDITION
All things must pass away
George was right. However the devil is in the details. For instance you can pass the slow car in front of you or a kidney stone. One can be fun the other no fun. Both can, under certain circumstances, be deadly
The situation we are in now is a kidney stone.
So what happens now? The majority of people, 70% the polls say, said no. They called and wrote and answered polls and protested and were ignored. A sixth or so of our economy has started down the road of complete Government control. Looking at it from a historical context I believe we are living in a dangerous moment in our history. The political process on Health Care has gone a long way to destroy the faith of the people in their leaders. For the first time, a great many people got to see on their TV screens a corrupt political process and were horrified to realize that it wasn’t taking place in some third world country but right here. No principles, no moral convictions no amount of protest or constituent will could withstand the acquisition of power so desired by those who pretend to represent us.
The question was “So what happens now?” There can only be one answer…… we must stand up as free men and women and act. Deny them money, support, respect, the things they steal from and deny us, and most of all their office. Churches, Unions and businesses that support these people must be included in our disdain and be made to understand who are the actual power brokers in society. Faith is not based on a building or the men who stand at the pulpit and unions were not started to destroy the businesses their members work for nor to hurt society in general so their members can have a few perks.
The people who think they rule us are now making it clear that they believe people will forget by November. Then Obama Care 2 will begin. Obama himself always said during the campaign that he would make single payer a reality by the end of his first term. I’m hoping we can end his Congressional power stranglehold in November and make the end of his Presidency a reality in 2012.
The head of the US Federal Reserve has partially opposed president Barack Obama‘s new rules to regulate financial firms.
Legislation unveiled earlier this week by the Obama administration suggested that the central bank would supervise only the biggest banks in the event of a possible failure.
The Federal Reserve would be limited to supervising banks with more than $US50 billion in assets.
Because the role of the US Federal Reserve is at the heart of the proposed legislation, the Federal Reserve chairman Ben Bernanke has come out to say he wants more control over smaller banks as well.
Mr Bernanke, who during the financial crisis was accused of not seeing it coming, warned that there needs to be a change in culture and structure in all financial institutions to make sure everyone does a better job.
Speaking to the House Financial Services Committee in Washington, he responded to questions about the Fed’s poor record in forecasting the global financial crisis by saying: “So there were mistakes and problems throughout the system. Other regulators and the Federal Reserve, private sector and even Congress made mistakes in this crisis. We have been doing a lot of soul searching and a lot of changes.”
By Jorn Madslien/Business reporter, BBC News
Greece’s economic problems matter, not just to heads of governments, but also to private individuals.
This is obvious for the Greeks who will soon have to get used to no pay rises, higher taxes, raised petrol prices and two more years of work before they get to retire.
But people elsewhere in Europe may also find that Greece’s troubles could eventually hit their wallets.
*CITI M-PAYMENTS TRIAL SURPASSES EXPECTATIONS, BUT CHALLENGES REMAIN
This week’s Barron’s details yet another financial time bomb ticking in the shadows of state and local government finances in a report
by Jonathan R. Laing, entitled, “The $2 Trillion Hole“:
Promised pensions benefits for public-sector employees represent a massive overhang that threatens the financial future of many cities and states.
LIKE A CALIFORNIA WILDFIRE, populist rage burns over bloated executive compensation and unrepentant avarice on Wall Street.
The debate over regulation of CDS, mostly relating to sovereign CDS, that has been simmering for a few weeks, came to a head this week (or should i say went into the gutter?) largely precipitated by an ignorant article in the NY times..RJ
Debt, markets and regulation: Those wicked speculators again – The Economist – THERE is a long and ignoble tradition in sport of blaming the referee for defeat*. Politicians have a similar habit of blaming speculators the moment that financial markets move against them. Greek prime minister George Papandreou is currently driving that bandwagon in his visit to America. Angela Merkel, the German chancellor, is calling for regulation of sovereign credit default swaps, presumably to stop investors shorting government bonds. Yes, there has been lots of speculation. But we are in this mess not because of wicked hedge funds going short. We are in it because lots of investors (and many ordinary people) speculated on the long side, taking out too much debt in an attempt to make a quick killing in the housing market. Imprudent banks encouraged the process. Politicians were generally absent in calling for restrictions on speculation at that point, and central banks did little to restrain credit growth.
KARACHI, March 15 (Reuters) – Following іѕ a list οf events іn Pakistan аѕ well аѕ news tаƖеѕ аnd press reports wһісһ mау influence financial markets.
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Posted on 2010 03, 13 by duo
By Bruce McQuain
One of the things I most admire about Walter Williams is his ability to succinctly state a point. In this case the point is about the false assertion that health care is a “right”. The primary argument against such a “right”:
True rights, such as those in our Constitution, or those considered to be natural or human rights, exist simultaneously among people. That means exercise of a right by one person does not diminish those held by another. In other words, my rights to speech or travel impose no obligations on another except those of non-interference. If we apply ideas behind rights to health care to my rights to speech or travel, my free speech rights would require government-imposed obligations on others to provide me with an auditorium, television studio or radio station. My right to travel freely would require government-imposed obligations on others to provide me with airfare and hotel accommodations.
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