Let's build a home.
Great idea! Let's start with the roof!...What? That seems to be the way the current administration and Repugnicants try make things work. It's called Reaganomics, trickle down theory, or now, with the current failing bailout programs, we can call it elitist socialism.
Let me try to explain.
If a foundation is not solid a building will fall. A foundation should be engineered carefully and be designed to withstand the numerous pressures of the local soil benefits and limitations. Whether the ground is made of rock, or clay you should build for the environment of the area in order to make sure your structure is physically sound. Some areas have earthquakes, some tornadoes, some have soft clay soil, some have high water levels. Therefore, sometimes you must install piers deep into the ground to help alleviate any motion that the soil may give to the structure. Whatever it may take to make sure that a foundation is solid. A foundation should include steel to aid the concrete in its structural properties. In earthquake regions the walls should be bolted to the foundation. If the plate of the walls are not attached solidly to the foundation during shaky times the walls will slip off of the foundation. The walls should be built to withstand the winds and protected from the outside elements so to reduce and eliminate any water and pest intrusion. The windows and doors should be properly sealed to ensure energy conservation. The roof should be secured to the wall structures to withstand high winds and lateral movement. There should be steel, clay or asphalt shingles on the roof to protect the structure from the weather. There should be appropriate locks and perhaps an alarm system to help protect the structure from intrusion.
This seems like a given. Simple really. There are rules to building a structure. In the United States we have codes that are normally followed. There is the Universal Building Code, which is used primarily throughout the United States, as well as, the International Building Code, which is used in some areas of the United States and as the enforcement for the industrialized and other emerging areas of the world.
Ok, now, let's build a nation. But, let's not have any regulations. or oversight. That is what Bush is stating and been doing for the past eight years. If there has been rules and oversight he has eliminated them. We got in this mess due to the de and un-regulating that has occurred over the past eight years. The Clinton administration began some of the open lending ideas to help the less advantaged become enabled to purchase a home. To create more home ownership throughout the country. Bush, took this idea, and opened the floodgates by eliminating any oversight to the financial industry which allowed anyone to own property whether they had a job, had any money or had any idea on how to pay for it. Through this, the financial industry allowed the creation of the Hedge Fund industry which has absolutely no oversight and regulations whatsoever. This allowed the financial industry to rethink how they could package and resell the mortgages throughout the financial world in order to get them off the banks books as soon as possible to alleviate the debt that banks had just incurred through the loan they had just approved. The mortgage industry had no oversight so convicted criminals were getting licenses to market, negotiate, and distribute loans to home buyers. They distributed the loans that they would make the most money on whether it was the best loan for the buyer or the property made no difference. The machine was making everyone a lot of money.
In other words, from the top down, the rich were lending money to anyone and everyone and didn't care about the repercussions of the loan payoff since the loan was now on the books of some other institution, packaged in such puzzling ways that no one knew exactly the value or payoff parameters of any specific loan. Anyway, they had insurance, and re-insurance...AIG, you've heard of them.
I think we all see the house of cards that Bush has been built with NO liability and oversight. I say no liability as the current administration, which includes Henry Paulson, who used to work at Goldman Sachs, is distributing the hundreds of billions of our tax dollars out to the most needy Americans, those financial institutions who created this. You see, he has given Goldman Sachs over $10 Billion and AIG, who was Goldman's largest trading partner, has received over $85 Billion and they are needing more.
What about the foundation? You know the foundation of society? Those people who work 40-60 hours a week to try to keep a house for their families and their kids in schools?
Well, Paulson will specifically state that the foundations of our economy are fractured, the foundations of our financial institutions are failing. Yet, the money gets sent to the top, the roof, to patch holes in the roof where it is still raining money.
The foundations of our economy are the Joe the Plumbers, and Joe six-pack. You remember those people that the Repugnicants worked so hard for their votes. Those who work their asses off to have a roof over their head for their family that is built on a solid foundation. Now, these people are losing their homes because the banks are needing to fix their roof!
We get to sit back and watch as the house of cards falls down from the bottom up. The ponzi scheme that this administration has created, that elitist type of Peter to pay Paul kind of capitalism that permeates the Repugnicant party, is being held up by no strings attached to their funds as they are able to magically keep the roof in the air while the walls and foundation of our society crumble to the ground in ruins.
When is January 20th?
(c)Copyright 2008 Doug Boggs
Showing posts with label Bush Administration. Show all posts
Showing posts with label Bush Administration. Show all posts
Sunday, November 16, 2008
Thursday, October 16, 2008
Adam Smith today...
I wanted to keep my thoughts going with the current ongoing ideas, however, I needed to inject a bit today due to the current economic situation.
I wanted to dive into a few thoughts from Adam Smith, and his landmark book "Wealth of Nations", Book V, Ch.2, Of the Sources of the General or Public Revenue of the Society...
V.2.8
No two characters seem more inconsistent than those of trader and sovereign. If the trading spirit of the English East India Company renders them very bad sovereigns, the spirit of sovereignty seems to have rendered them equally bad traders. While they were traders only they managed their trade successfully, and were able to pay from their profits a moderate dividend to the proprietors of their stock. Since they became sovereigns, with a revenue which, it is said, was originally more than three millions sterling, they have been obliged to beg extraordinary assistance of government in order to avoid immediate bankruptcy. In their former situation, their servants in India considered themselves as the clerks of merchants: in their present situation, those servants consider themselves as the ministers of sovereigns.
V.2.9
A state may sometimes derive some part of its public revenue from the interest of money, as well as from the profits of stock. If it has amassed a treasure, it may lend a part of that treasure either to foreign states, or to its own subjects.
This seems to me to ring so true to today, just as it did then. Since this first publication back in 1776, I guess it shows that we have(?) come a long way as we look at our current state of affairs and the current band-aids that have plagued the American taxpayer in order to bailout the corporations. This shows us just how important it truly is for this current campaign and the result as to how and who should be running this country for the future. Do to the nature of our economic crisis, as well as, the global economic fallout and the necessary reparations to the perceptions of the world populace to our country this next leader is going to be pivotal to the future global political landscape for generations to come.
Let's look at the relevance to Smith's writings and today's economic crisis.
Recently, we have bailed out some of the largest corporations, and Treasury Secretary Paulson has publicly stated that we should make sure these businesses do not fail. There is some who think that Paulson has self interests involved in which companies succeed and which may fail due to some of the narcissistic patterns of funding and oversight thus far.
Perhaps this is the human pattern of self interest. The current Republican welfare state for the rich shows us that the trickle down theory of economics does not work. Smith tells us that the wages of the poor should be high in relation to their position, and he views that a common street porter was not intellectually inferior to a philosopher. In other words, as to the founding fathers, we are all created equal and should have equal rights and opportunities.
This brings me to Paulson's latest move. If we, as the tax payers and funders of the bailouts to the banks, insurance, and mortgage institutions that we have seen take place, we should also be given the voting rights as the stock holders to these firms. We should be given the opportunity to delegate our individual proxy votes for these companies with transparent oversight to these voting processes. This will give the American people the opportunity to truly protect the investment that our government has put our money into, and to maintain that the people that Paulson has placed into power positions are scrutinized and managed appropriately and fairly as with any other corporation. We, as tax payers, are now the major stock holders to these firms. As a Union of voters we should be given these rights and voting powers just as with any other corporate structure.
The interesting thing about this democratic capitalistic management philosophy that has transpired through the Bush administration is that we are riding a fine line to communism and or dictatorship. I use the first volume of Marx's major work, "Capital", which was published in German in 1867, as an example. In it, Marx focused on the labour(sic) theory of value and what he considered to be the exploitation of labour by capital. The labour(sic) theory of value held that the value of a thing was determined by the labor that went into its production. This contrasts with the modern understanding of mainstream economics, that the value of a thing is determined by what one is willing to give up to obtain the thing. Ironically, Smith is often cited for being the conceptual builder of free markets in Capitalism, and also cited as a main contributor to Communist theory, via Marx.
Smith believed that while human motives were often driven by selfishness and greed, the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and argued against the formation of monopolies.
It seems that his fears have shown their relevance and we are in this global dilemma. AIG is the world's largest insurance firm, and is now quite possibly the world's fourth largest social benefiting program outside of Social Security, and Medicare which are also nearly bankrupt. For the third largest social welfare program we have the Freddie Mac and Fannie Mae bailouts and the new mortgage holding corporation of the United States of America. Then we have the multiple corporations that make up the new social banking system that has recently become part the nations growing stock portfolio program.
The difference to what the current administration has done here is created the sovereign social state policies that Smith discusses. The sovereign continually declare the welfare state as being dis functional until it is time to meet the needs of the sovereign.
An often-quoted passage from The Wealth of Nations is:
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.
It is for this reason and this reason alone that there MUST be full transparency and accountability to all actions that are taking place in today's economic crisis. We as the major stockholders to all of these new corporate structures must maintain our position of such and demand that.
(c)Copyright 2008 Doug Boggs
I wanted to dive into a few thoughts from Adam Smith, and his landmark book "Wealth of Nations", Book V, Ch.2, Of the Sources of the General or Public Revenue of the Society...
V.2.8
No two characters seem more inconsistent than those of trader and sovereign. If the trading spirit of the English East India Company renders them very bad sovereigns, the spirit of sovereignty seems to have rendered them equally bad traders. While they were traders only they managed their trade successfully, and were able to pay from their profits a moderate dividend to the proprietors of their stock. Since they became sovereigns, with a revenue which, it is said, was originally more than three millions sterling, they have been obliged to beg extraordinary assistance of government in order to avoid immediate bankruptcy. In their former situation, their servants in India considered themselves as the clerks of merchants: in their present situation, those servants consider themselves as the ministers of sovereigns.
V.2.9
A state may sometimes derive some part of its public revenue from the interest of money, as well as from the profits of stock. If it has amassed a treasure, it may lend a part of that treasure either to foreign states, or to its own subjects.
This seems to me to ring so true to today, just as it did then. Since this first publication back in 1776, I guess it shows that we have(?) come a long way as we look at our current state of affairs and the current band-aids that have plagued the American taxpayer in order to bailout the corporations. This shows us just how important it truly is for this current campaign and the result as to how and who should be running this country for the future. Do to the nature of our economic crisis, as well as, the global economic fallout and the necessary reparations to the perceptions of the world populace to our country this next leader is going to be pivotal to the future global political landscape for generations to come.
Let's look at the relevance to Smith's writings and today's economic crisis.
Recently, we have bailed out some of the largest corporations, and Treasury Secretary Paulson has publicly stated that we should make sure these businesses do not fail. There is some who think that Paulson has self interests involved in which companies succeed and which may fail due to some of the narcissistic patterns of funding and oversight thus far.
Perhaps this is the human pattern of self interest. The current Republican welfare state for the rich shows us that the trickle down theory of economics does not work. Smith tells us that the wages of the poor should be high in relation to their position, and he views that a common street porter was not intellectually inferior to a philosopher. In other words, as to the founding fathers, we are all created equal and should have equal rights and opportunities.
This brings me to Paulson's latest move. If we, as the tax payers and funders of the bailouts to the banks, insurance, and mortgage institutions that we have seen take place, we should also be given the voting rights as the stock holders to these firms. We should be given the opportunity to delegate our individual proxy votes for these companies with transparent oversight to these voting processes. This will give the American people the opportunity to truly protect the investment that our government has put our money into, and to maintain that the people that Paulson has placed into power positions are scrutinized and managed appropriately and fairly as with any other corporation. We, as tax payers, are now the major stock holders to these firms. As a Union of voters we should be given these rights and voting powers just as with any other corporate structure.
The interesting thing about this democratic capitalistic management philosophy that has transpired through the Bush administration is that we are riding a fine line to communism and or dictatorship. I use the first volume of Marx's major work, "Capital", which was published in German in 1867, as an example. In it, Marx focused on the labour(sic) theory of value and what he considered to be the exploitation of labour by capital. The labour(sic) theory of value held that the value of a thing was determined by the labor that went into its production. This contrasts with the modern understanding of mainstream economics, that the value of a thing is determined by what one is willing to give up to obtain the thing. Ironically, Smith is often cited for being the conceptual builder of free markets in Capitalism, and also cited as a main contributor to Communist theory, via Marx.
Smith believed that while human motives were often driven by selfishness and greed, the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and argued against the formation of monopolies.
It seems that his fears have shown their relevance and we are in this global dilemma. AIG is the world's largest insurance firm, and is now quite possibly the world's fourth largest social benefiting program outside of Social Security, and Medicare which are also nearly bankrupt. For the third largest social welfare program we have the Freddie Mac and Fannie Mae bailouts and the new mortgage holding corporation of the United States of America. Then we have the multiple corporations that make up the new social banking system that has recently become part the nations growing stock portfolio program.
The difference to what the current administration has done here is created the sovereign social state policies that Smith discusses. The sovereign continually declare the welfare state as being dis functional until it is time to meet the needs of the sovereign.
An often-quoted passage from The Wealth of Nations is:
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.
It is for this reason and this reason alone that there MUST be full transparency and accountability to all actions that are taking place in today's economic crisis. We as the major stockholders to all of these new corporate structures must maintain our position of such and demand that.
(c)Copyright 2008 Doug Boggs
Tuesday, October 14, 2008
Margin calls...
Top down Reaganomics at its best when the markets are free from government intervention...?
Part V
(From Equity Private)
And then we get back to reality...
*
Part V
(From Equity Private)
And then we get back to reality...
*
Monday, September 29, 2008
There is a virus in America...
America has a virus. It has infiltrated the entire nation. It has penetrated the entire consciousness. It has affected every living person of this country.
The only solution to this sickness is for the infected to stand up and fight this illness. The people must understand that there is an antiviral to fight this illness, and it is called participation and education.
The people must begin to understand this virus that is sickening the entire nation. The virus has a tendency to put the ill and infected into a state of denial, complacency, and forgetfulness. The patients must become proactive in their fight of this disease or they will perish.
A disease is an abnormal condition of an organism that impairs bodily functions and can be deadly. It is also defined as a way of the body harming itself in an abnormal way,associated with specific symptoms and signs.
"Disease" is often used more broadly to refer to any condition that causes extreme pain, dysfunction, distress, social problems, and/or death to the person afflicted, or similar problems for those in contact with the person. In this broader sense, it sometimes includes injuries, disabilities, disorders, syndromes, infections, isolated symptoms, deviant behaviors, and atypical variations of structure and function, while in other contexts and for other purposes these may be considered distinguishable categories.
The primary virus has been located and is currently isolated within Washington D.C. The main initial carrier has been discovered to be President Bush and the Administration.
The virus is very powerful. It initially infected the main populace of the country through lies, deception, and falsehoods. The virus was too strong for the incumbent political party and was primarily misunderstood in its power and capacity for deception. The country immediately became infected and the power of the virus spread quickly and covered the entire nation, as well as infiltrated many foreign countries.
The virus has subsequently spread to a new host in hopes to carry on this campaign of fear, deception and untruths.
The audacity of hope is the cure for this virus. The infected people must understand the only way out of this illness is to distance and educate themselves of the causes of the infectious virus and quarantine the virus for a period of at least 16 years. Through this quarantine the country will be able to shake much of the visible scarring that has overtaken the country. The country will be able to work to repair the necessary bloodlines of the infection by creating new jobs, rebuilding infrastructure, breathing new life into the scared, dazed, confused and healing patients of this great country.
If the patients do not accept this cure, the country will continue to be eaten from within. The virus will continue to consume the consciousness of the country and its people will be extremely hard pressed to find a cure for this illness for many decades to come.
(c)Copyright 2008 Doug Boggs
The only solution to this sickness is for the infected to stand up and fight this illness. The people must understand that there is an antiviral to fight this illness, and it is called participation and education.
The people must begin to understand this virus that is sickening the entire nation. The virus has a tendency to put the ill and infected into a state of denial, complacency, and forgetfulness. The patients must become proactive in their fight of this disease or they will perish.
A disease is an abnormal condition of an organism that impairs bodily functions and can be deadly. It is also defined as a way of the body harming itself in an abnormal way,associated with specific symptoms and signs.
"Disease" is often used more broadly to refer to any condition that causes extreme pain, dysfunction, distress, social problems, and/or death to the person afflicted, or similar problems for those in contact with the person. In this broader sense, it sometimes includes injuries, disabilities, disorders, syndromes, infections, isolated symptoms, deviant behaviors, and atypical variations of structure and function, while in other contexts and for other purposes these may be considered distinguishable categories.
The primary virus has been located and is currently isolated within Washington D.C. The main initial carrier has been discovered to be President Bush and the Administration.
The virus is very powerful. It initially infected the main populace of the country through lies, deception, and falsehoods. The virus was too strong for the incumbent political party and was primarily misunderstood in its power and capacity for deception. The country immediately became infected and the power of the virus spread quickly and covered the entire nation, as well as infiltrated many foreign countries.
The virus has subsequently spread to a new host in hopes to carry on this campaign of fear, deception and untruths.
The audacity of hope is the cure for this virus. The infected people must understand the only way out of this illness is to distance and educate themselves of the causes of the infectious virus and quarantine the virus for a period of at least 16 years. Through this quarantine the country will be able to shake much of the visible scarring that has overtaken the country. The country will be able to work to repair the necessary bloodlines of the infection by creating new jobs, rebuilding infrastructure, breathing new life into the scared, dazed, confused and healing patients of this great country.
If the patients do not accept this cure, the country will continue to be eaten from within. The virus will continue to consume the consciousness of the country and its people will be extremely hard pressed to find a cure for this illness for many decades to come.
(c)Copyright 2008 Doug Boggs
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