moonlightcowboy's WunderBlog

US banks "insolvent" - bankruptcy looming

By: moonlightcowboy, 5:52 PM GMT on January 25, 2009

The Obama trillion-dollar spending stimulus may just be the "tip of the iceberg" of an even more gargantuan government bailout plan if what Nouriel Roubini says is true about the US banking system. Roubini, the economist who predicted the financial collapse a couple of years ago, said this weekend that US banks are "insolvent" calling it a "systemic banking crisis." He goes further to say that problems at Citi, Bank of America and other banks are signaling that the system is essentially bankrupt and that Europe's scenario is very similar.

US banks and brokerages are capitalized by $1.4 trillion, but staggering credit losses are expected to reach a whopping $3.6 trillion as the financial crisis broadens. So now, in addition to the $350 billion leftover from the Bush stimulus package, Obama will likely have to also use his entire proposed trillion-dollar stimulus money to further recapitalize the banking system. With such massive cash-injections and a renowned economist basically declaring the system bankrupt, the so-called prolonged recession is taking on more of a depression outlook although Bush, Obama and others are spinning it more subtly, saying the situation could simply worsen without adequate and prompt funding and without actually admitting the “D word" possibility.

If the Great Depression similarly started with massive bank failures one could certainly draw conclusions that the US could be facing another grim period. And, there are other similar and different variables, today. The debate still rages over whether the depression and our current plight was caused by failures in global trade policy, a failure of government to aptly regulate financial institutions or perhaps both. Then, there was little money in supply compared to today’s spiraling, straight-upwards supply the Federal Reserve is continuously and feverishly printing. Then, we had little national debt comparatively, but today our debt is surpassing $11 trillion and this year’s budget deficit will exceed a $1 trillion for the first time in history. Home and business values falling, little credit, cheap goods – all are deflationary and similar to both eras. However, the common bank troubles, job losses, trade and government issues are all exponentially more complex today.

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It's difficult to see in the above money-supply graphic as the little blue line is obscured somewhat with the gray recession bar, but notice how the blue line goes STRAIGHT UP! Look closely - I've drawn a red line parallel to the blue one so that it's easier to discern.


The Treasury’s money-printing presses are running beyond capacity to feed the expense of government, float bank depositories and keep the flow of goods and services moving. Yet, every aspect of the economy reflects a deflationary move in the economy. How can that be? Is there a lag between the massive influx of money and inflationary prices and higher interest rates? Evidently there is. With all that money being injected into the system economic concepts should point towards inflation. So, why haven’t we seen that yet? Hoarding? It happened in the 30’s, too. Some economists believe it’s still coming towards us and the lag will result in “hyper-inflation” – meaning that when it hits it will hit with a vengeance. A loaf of bread could cost $100, interest rates will go up, more businesses will close, unemployment will double or triple, the dollar is likely to collapse and America could find itself in an even deeper and darker depression than the 30’s.

It’s apparent that massive bank-recapitalization will soak up new, unfathomable amounts of freshly-printed money, substantially more than Obama or Congress has resolved needed. Obama’s job creation plan will require an additional trillion just to spur temporary jobs in infrastructure, education and energy – none of which will become available quickly, and possibly too little-too late given the recent predictions of massive retail closings, manufacturing, financial and other job losses in 2009. Obama will probably address the nation soon, warning of the continuing, plaguing problems before taking his case to Congress in an effort to persuade them to pass an even substantially larger stimulus package – now one of trillions instead of billions. Clearly, America’s recovery is going to come with a much higher price tag; and, if it can recover at all and debts repaid, the heavy burden will fall squarely on the fortitude and pocket books of future generations.

Cranking Up the Presses - a MUST read!

The Coming of the Second Great Depression?

Seeing the Pattern: 1929 and 2008

Hastening the Glut of Relocating Factories Overseas

Unhappy Anniversary: NAFTA Fifteen Years Later

“NAFTA is really less about trade than it is about investment. Its principal goal is to protect US companies and investors operating in Mexico. The text of the agreement is contained in two volumes covering more than 1,100 pages. Buried in the fine print are provisions that will give away American jobs and radically reduce the sovereignty of the US.” -- Ross Perot

What CANADIANS are saying about NAFTA after 15 years.



Unfortunately, (not surprisingly) Obama is already contradicting himself on the trade agreements as shown in the Lou Dobbs segment above left. Then, there's also Wal-Mart and China in bed together - actual and symbolic of the loss of real national wealth in this country. Watch the video above right. I've made at least ONE resolution for the new year - that I WILL NOT patronize Wal-Mart! Don't mis-understand me - I'm not trashing Obama. It's just what all politicians do: say one thing and then do something entirely different. Actually, I've got a great deal of sympathy for the man - he's walking into a caldera of problems. He'll need our help and prayers. I'm hoping for the best!

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(There are links to the right under "Recommended Links" to help you contact your Representatives and Senators.)




Simple rules in this blog: Keep it absolutely civil, especially towards fellow bloggers. And, don't get heavy on the partisanship - it's quite obvious that corrupt, petty, inept, greedy, powerlust politicians are plentiful on both sides of the aisle. It's ok to take jabs at them - either party, any official or candidate; but, leave the total "blame game" out of this - it's ALL of them, everyone! If you think otherwise, then you probably don't want to bring it in here!

...see ya 'round the blogosphere! Have a good one!


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WHOA! 20,000 Posts Party!!!!!

By: moonlightcowboy, 3:38 AM GMT on January 24, 2009



117 blog entries
20,000 comments

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Whoa, is right! W H O A!!! Although I'd been a member since 06 and visited the site in 05, my first blog and post was not until the first of hurricane season in '07. YUP, 20,000 "thank yous" would be in order for folks reading one or any or many of my posts, God help you! Of course, I've always followed the hurricanes (ever since Camille), but WU's made it interesting, learned a TON and it's been a great community! Why, heck, I'd rather be around you people than the finest people in the world! ;P No kiddin' though - "thanks" for your disagreements, your agreements, your listening, your understanding but most of all for your friendship!

I've always known I was long-winded! :)



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The weekend is is here! I hope you enjoy your weekend whether it's cool, cold or freezin' your %#?@*% off! Sometimes life is really B E A U T I F U L and then we get WARM WEATHER - yahoo! (But, the storms, too, ugh!) If you get around the blogs and feel like posting some good music, please do! Enjoy LIFE! Raise your glass and post some music AND even something weather related if you'd like. That'd be real nice. I'll likely be playing some blues. BUT, the music doesn't have to be all blues. Just post whatever makes you feel good! Join in and leave your keys and worries at the door, grab a chair and sit a spell. Remember, friends don't let friends.....uuuuuummmmmm, well, make it up! LOL But, FRIENDS GENERALLY DO HAVE FUN! So, MOAN IN and "Laissez les bons temps rouler!"




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Here comes Obama: Trillion Dollar man

By: moonlightcowboy, 1:08 AM GMT on January 19, 2009

Never before in America’s history has a newly-inaugurated President been handed a trillion dollars to spend revitalizing an ominous economy. And, unlike the “Six Million Dollar Man’s” bionics wielded by Lee Majors in the popular mid-70’s TV series, this “Trillion Dollar Man’s” power will come from a virtually blank checkbook – an era of “Obamanomics” ushered in by a complicit Congress and hastened by a plethora of “free-traders” drunk with borrowing and spending.

Obama’s stimulus plan will only create temporary public-sector jobs, grow permanent government bureaucracy and continue to fuel the mass exodus of manufacturing and service jobs to foreign shores. America doesn’t need more FDR-like spending for national parks and monuments, or roads and bridges and other temporary, pseudo-real projects – we need real jobs, manufacturing jobs that grow permanent wealth. Our companies leave because we have the second-highest corporate tax rate in the world and through trade agreements, allowing them to take advantage of cheap resources and cheap (even child) labor to drive profits. Since NAFTA and other WTO agreements were initiated over fifteen years ago, America has lost nearly four million jobs and sold nearly 17,000 American companies to foreign interests. Unfortunately, Obama’s campaign pledge to renegotiate these agreements has waned, already altered and likely hoodwinked by the groping, drunken power of Washington bureaucracy, big-business and foreign lobby.

His plan thus far has no incentives for permanent wealth for a nation whose borrowing capacity is exceeded only by its larger appetite for spending. We now borrow trillions instead of billions with no real plan to reverse our dismal course. Our debt of $11 trillion is sky-rocketing and we no longer generate enough tax revenue to cover just the expense of Social Security and Medicare – forget funding for running the government, defense and other mandatory or discretionary spending. These foreign loans also subject us to their stipulations, limiting our action on democracy and freedom ideologies. We are debt-ridden, entirely dependent on loans to feed growing entitlements suffered by our cornerstone loss of wealth in manufacturing and support for entrepreneurship.

We must create new manufacturing protectionisms like our trading partners and set a true course for re-growing the nation’s wealth. We must renegotiate or do away with these trade agreements, implement import tariffs and limit the lobbying power in Washington. We’ve taken liberty for granted and if the course isn’t changed the nation "of the people" may likely exist only in history. We need to get involved in taking back our country - learn what's happening, take real action to preserve and endear it! Leaving things "up to someone else" has left us in the shape we're in now! Join a group (Campaign for Liberty), contact your congressmen and senators or write POTUS Obama at Change.gov - demand these trade agreements be renegotiated or revoked and hold them accountable.

Obama can take the helm of this economically starved, consumer-drunken nation if he follows his campaign promises and bring America back to being the strongest nation in the world! And, his future legacy shouldn’t resemble that of FDR or of Lincoln, but rather as a “restorer” of our wealth and sovereignty. Otherwise, America will awaken from this “trillion-dollar drunken spending spree” with an empty bottle and a jobless hangover, powerless and stumbling around looking for handouts from the economically-prosperous, less apt than ever to lend us more hair of the dog that bit us.




Unfortunately, America is really no longer manufacturing the sticks or stones that count! And, for you trouble-making pundits, I'm not talking about ramping up the war machine. We've lost our edge for growing our wealth and we can no longer support our own selves or pay our bills! That must change!


I've always heard there are three kinds of people in the world:

1. Those that make things happen.
2. Those that watch things happen.
3. Those that wonder what the hell happened!

LEARN, Take ACTION! Let's don't find ourselves shocked, overwhelmed by the forthcoming changes - let's usurp them and guard our sovereignty closely!


I'm appalled at the article below and we should all demand that it be changed! WATCH THIS! If these new "stimulus incentives" are NOT included to keep jobs here and Congress passes it anyway; then, we as Americans have no choice but to revolt - peaceably and by the means necessary to get these bums thrown out of office! This is simply unacceptable! In fact, if this money goes towards creating even "one" job overseas it should be vetoed by the President. And, if he doesn't veto it, he is as corrupt as the lame congressmen leaving liberty undefended and surely threatened!

Hastening the Glut of Relocating Factories Overseas

Senate Democrats were hoping and pushing for special tax credits for manufacturers of renewable energy products to be included in President-elect Barack Obama’s $825 billion stimulus package but it appears that incentive has been left out, which critics say will only hasten the glut of factories relocating overseas. According to CNNMoney.com, cheaper labor markets, more well trained workforces and most of all tax incentives are luring U.S. manufacturers of renewable energy products to places like Asia and even Europe.

"We would love to have the opportunity to invest in our own backyard," Julie Blunden, a spokeswoman for SunPower, one of the country's largest makers of solar panels, told CNN. But "the tax packages offered in the Philippines are difficult to compete with in the U.S. today." To offset those incentives, lawmakers were hoping to include special tax credits that would have allowed manufacturers of renewable products to remove 30 percent of the money they invest in capital equipment from their tax bill each year.

"There is more interest in energy investment and the opportunity to create jobs in energy than I think the Obama administration has really picked up on," said Sen. Ron Wyden, D-Ore. "There would be bipartisan support toward skewing it more toward energy investments." Indeed, the Solar Energy Industries Association predicts that such a tax credit would create roughly 315,000 manufacturing jobs here in the U.S. by 2011 in the solar industry alone. The wind industry could double that number, according to CNN.

Now, the nation is missing out on a great opportunity to lead in the field of alternative energies. Not only that, but it is also squandering the future wealth that the industry would create, the specialized knowledge that comes with the technology, jobs and more importantly an excellent opportunity to revitalize the nation’s floundering industrial base. "What are we doing to our own competitive posture?” asked Michael Carboy, a renewable energy analyst at Signal Hill, a boutique investment firm based in Baltimore. "We are being reckless by continuing to outsource technologies we need to build our industrial base in the U.S."



Unhappy Anniversary: NAFTA Fifteen Years Later

“NAFTA is really less about trade than it is about investment. Its principal goal is to protect US companies and investors operating in Mexico. The text of the agreement is contained in two volumes covering more than 1,100 pages. Buried in the fine print are provisions that will give away American jobs and radically reduce the sovereignty of the US.” -- Ross Perot

What CANADIANS are saying about NAFTA after 15 years.

U.S. multinational corporations (including the financial industry) and their CEO's have profited greatly from international trade thanks to increasing use of low-wage labor and trade agreements guaranteeing them tariff-free access to U.S. consumer markets for their foreign-made merchandise.



Unfortunately, (not surprisingly) Obama is already contradicting himself on the trade agreements as shown in the Lou Dobbs segment above left. Don't mis-understand me - I'm not trashing Obama. It's just what all politicians do: say one thing and then do something entirely different. Actually, I've got a great deal of sympathy for the man - he's walking into a caldera of problems. He'll need our help and prayers. I'm hoping for the best! BUT THEN, there's also Wal-Mart and China in bed together - actual and symbolic of the loss of real national wealth in this country. Watch the video above right. I've made at least ONE resolution for the new year - that I WILL NOT patronize Wal-Mart!


Cranking Up the Presses - a MUST read!

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(There are links to the right under "Recommended Links" to help you contact your Representatives and Senators.)


visitor stats

...see ya 'round the blogosphere! Have a goodun!

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STICKS & STONES, breaking bones....

By: moonlightcowboy, 6:34 PM GMT on January 13, 2009



"Stick and stones may break my bones, but words will never hurt me!" was the all too familiar childhood chant of years ago! But, words do hurt and I'm ashamed of some of the bloggers who have maliciously lashed out, hurting others here recently and I am truly disappointed in their childish behaviors. I also want to say thanks to others for the nice emails and comments following all the ugly hoopla. I respect 97 percent of the frequent bloggers here. Then, there's the two percent that I can tolerate; but, there's the one percent that turns my stomach. I believe it's true that "one bad apple can spoil the barrel!" That one percent continues to prove themselves as troublemakers with a hell-bent duty to cause others pain and grief. In many ways I feel sorry for them because I know there is something missing, something wrong in their lives. Yet, it's hard to overlook something/statements when there is such blatant, hateful malice. And, that is one thing; but, it's entirely another when that malevolence is unchecked and accepted by WU administration.

My problem is not with the folks I have the usual or occasional disagreements - those differences are largely healthy dialog and generally a communicable, civil reasoning of issues. But, I am transcending the juvenile antics of the bad apples here which WU seems to support. They're beneath me and I will not partake in their foolish, immature, ill-mannered behavior and caustic mentality. WU may decide to ban me permanently, but I will not lose any sleep from such a shallow and trivial ostracizing. Everyone makes mistakes and perhaps admin is now, too; but, I just won't participate at a site that lets personable slander go unfettered, continuously repeated, spewing hatred, discontent and discord. When WU permanently bans some of these "bad apples" and also begins practicing a more even-keeled judgment accordingly (and I'm still welcome), then I will participate here actively again. Until, then I'm only drifting in and out - a pit stop for changing the oil every few thousand miles. Certainly, I've been no model blogger myself, but I have refrained from the malicious name-calling (except for politicians) and do try to be respectful of other bloggers and their opinions. I've been banned a few times and I am somewhat surprised that I haven't been FEDEXed some tar and feathers occasionally for my efforts. Demonstrably, I don't have much tolerance for corrupt politicians or for bloggers that mistreat fellow bloggers!



On a bright, positive note, WU is a great weather site and it has the potential to be so much more. It has helped create friendships, helped those in bad weather situations and ultimately supported relief efforts of disaster-related victims. That is the WU one can't help but appreciate and desire to associate. I've enjoyed that aspect and I've made some friends - you folks know who you are and we'll stay in touch. Hurricane season will be here again shortly and there's no better place to get informed than at WU. I've come to respect and greatly care for many here. There's some sharp people - sharp weatherwise and otherwise, a ton of talent and a heap of heart! Your friendship, your character and your wisdom I hold fondly and admirably.



If you've kept up with my blog it's no secret that I've a passion for this country and I am greatly concerned and disturbed with the erosion of our liberty, our sovereignty over the past many years. Lately, it's been more like a massive mud-slide than an erosion. Most of us do not remember a time when things were bad, really bad - no jobs, no money, no food - not much at all. The thing is everyone was alike then - one really didn't know any differently. Today, that's different, very different. If this country continues to slide into the abyss, those that have been propped up by debt and decent jobs may suddenly find their fortunes reversed! The poor will begin to understand an even broader definition of the word. And, there will be much chaos and crime, possibly warranting martial law. We are in for some troubled, rough times, very different times ahead!



We've lost the cornerstone of our strength, our wealth-making machinery, our manufacturing and it has left us nearly terminally ill. We're presently outsourcing service jobs at the rate of 20,000 jobs per month, not counting manufacturing jobs. We've lost millions of jobs, sold thousands of whole industries to foreign interests. Our debt has sky-rocketed exponentially and we no longer generate enough revenue from our own tax base to even pay for the outlay on Social Security or Medicare - much less "anything" else! Revenue is quickly shrinking while expenses are growing considerably. We're borrowing trillions instead of billions now with no real ray of hope in sight to reverse our dismal course. Obama is already reversing his campaign position and promise of renegotiating our trade agreements and the prospect of that is becoming even more dismal. We must create protectionisms like our trading partners and set a straight course for regrowing our wealth. When we opened the global trade floodgates for "one bad greedy multi-national" we opened the door to spoil the barrel and very apparently, it has become quite rotten! We must chunk the bad ones overboard or towards the hog-slop and begin anew - begin with better respect for liberty and all that we hold sacred about America! Otherwise, the nation "of the people" will only exist in history and be missed in the hearts that remember living freely!

So, being my long-winded self and having said all that, I'm going to leave you with one prevalent thought, one challenge: Learn what's happening to our country - take action, real action to preserve and endear it! I've got a few links here - that'll get you started; but, really it's up to "you" and no one else. I'll dip in occasionally and post some interesting, extraordinary things; but, you can do the same - find something and post it for others to benefit. Leaving things "up to someone else" has put us in the shape we're in now! If you don't do anything else extra-curricular this year - learn and take action! America (and the world really) is depending on us!

I've always heard there are three kinds of people in the world:

1. Those that make things happen.
2. Those that watch things happen.
3. Those that wonder what the hell happened!

LEARN, Take ACTION! Let's don't find ourselves shocked, overwhelmed by the forthcoming changes - let's usurp them and guard our sovereignty closely!



Unfortunately, America is really no longer manufacturing the sticks or stones that count! And, for you trouble-making pundits, I'm not talking about ramping up the war machine. We've lost our edge for growing our wealth and we can no longer support our own selves or pay our bills! That must change!



I'm appalled at the article below and we should all demand that it be changed! WATCH THIS! It these new "stimulus incentives" are NOT included to keep jobs here and Congress passes it anyway; then, we as Americans have no choice but to revolt - peaceably and by the means necessary to get these bums thrown out of office! This is simply unacceptable! In fact, if this money goes towards creating even "one" job overseas it should be vetoed by the President. And, if he doesn't veto it, he is as corrupt as the lame congressmen leaving liberty undefended and surely threatened!

Hastening the Glut of Relocating Factories Overseas

Senate Democrats were hoping and pushing for special tax credits for manufacturers of renewable energy products to be included in President-elect Barack Obama’s $825 billion stimulus package but it appears that incentive has been left out, which critics say will only hasten the glut of factories relocating overseas. According to CNNMoney.com, cheaper labor markets, more well trained workforces and most of all tax incentives are luring U.S. manufacturers of renewable energy products to places like Asia and even Europe.

"We would love to have the opportunity to invest in our own backyard," Julie Blunden, a spokeswoman for SunPower, one of the country's largest makers of solar panels, told CNN. But "the tax packages offered in the Philippines are difficult to compete with in the U.S. today." To offset those incentives, lawmakers were hoping to include special tax credits that would have allowed manufacturers of renewable products to remove 30 percent of the money they invest in capital equipment from their tax bill each year.

"There is more interest in energy investment and the opportunity to create jobs in energy than I think the Obama administration has really picked up on," said Sen. Ron Wyden, D-Ore. "There would be bipartisan support toward skewing it more toward energy investments." Indeed, the Solar Energy Industries Association predicts that such a tax credit would create roughly 315,000 manufacturing jobs here in the U.S. by 2011 in the solar industry alone. The wind industry could double that number, according to CNN.

Now, the nation is missing out on a great opportunity to lead in the field of alternative energies. Not only that, but it is also squandering the future wealth that the industry would create, the specialized knowledge that comes with the technology, jobs and more importantly an excellent opportunity to revitalize the nation’s floundering industrial base. "What are we doing to our own competitive posture?” asked Michael Carboy, a renewable energy analyst at Signal Hill, a boutique investment firm based in Baltimore. "We are being reckless by continuing to outsource technologies we need to build our industrial base in the U.S."



Unhappy Anniversary: NAFTA Fifteen Years Later

“NAFTA is really less about trade than it is about investment. Its principal goal is to protect US companies and investors operating in Mexico. The text of the agreement is contained in two volumes covering more than 1,100 pages. Buried in the fine print are provisions that will give away American jobs and radically reduce the sovereignty of the US.” -- Ross Perot

What CANADIANS are saying about NAFTA after 15 years.

U.S. multinational corporations (including the financial industry) and their CEO's have profited greatly from international trade thanks to increasing use of low-wage labor and trade agreements guaranteeing them tariff-free access to U.S. consumer markets for their foreign-made merchandise.



Unfortunately, (not surprisingly) Obama is already contradicting himself on the trade agreements as shown in the Lou Dobbs segment above left. Don't mis-understand me - I'm not trashing Obama. It's just what all politicians do: say one thing and then do something entirely different. Actually, I've got a great deal of sympathy for the man - he's walking into a caldera of problems. He'll need our help and prayers. I'm hoping for the best! BUT THEN, there's also Wal-Mart and China in bed together - actual and symbolic of the loss of real national wealth in this country. Watch the video above right. I've made at least ONE resolution for the new year - that I WILL NOT patronize Wal-Mart!


Cranking Up the Presses
- a MUST read!

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(There are links to the right under "Recommended Links" to help you contact your Representatives and Senators.)


visitor stats

...see ya 'round! Have a goodun!

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US Flags "Made In China"

By: moonlightcowboy, 8:01 AM GMT on January 11, 2009



In my recent blog, 15 years of NAFTA killing the U.S., someone pointed out that the U.S.A no longer manufactures our own flags! At first I thought the person might be joking, but he wasn't. I looked it up and was appalled at what I discovered: In 2006, $5.3 million worth of American flags were imported into the United States, with $5 million of that coming from China, according to the Flag Manufacturers Association of America.

Betsy Ross
must be turning cart wheels in her grave!

That's unbelievable! But, I'm not surprised considering how we've put ourselves, our companies and our country up for sale! It bothers me greatly that we no longer make our own flag. And, the thought of bringing home one of our soldiers in a box draped with a China-made American flag turns my stomach. That soldier gave his/her life for this country, now being "pedaled" to the lowest "labor bidder" to stitch together its own colors!



I wonder if the flags draped behind Bush or PEOTUS Obama are made in China? It'd be interesting to see someone from the press corp put them on-the-spot to turn around and check the tag in the stitching wouldn't it? Maybe, it'd finally hit "home" with them as well! What about the flag that flies over the Capital or the White House? I'm disgusted with ourselves, allowing this to happen. It really chaps my saddle sores!

All of these corporate big-shots collecting huge bonuses pretending to be "American" as they've managed to pillage our sovereign wealth and have greedily manipulated our legislators into slanting "so-called" trade agreements to improve the bottom line regardless of the consequences for this country. It has robbed Americans of jobs, reduced wages and severely hindered, if not destroyed, the futures of our children.

NORTH DAKOTA legislators have introduced a bill (Bismarck Tribune story) that would permit "only" American-made flags to be sold in their state! I say, "BRAVO!" And, I understand that Minnesota passed a similar bill in 2007. Now, I am also drafting a letter to my state representatives to pass such a bill, too. Perhaps, this can be the very "start" we need to turn this country's trade deficits and sovereignty situation around! It's worth a try! Check out flags sold in your state and see if they are "China-made" and then contact your representatives and tell them to pass such a law! It could be the start of something "American" for a change! It's obvious our Congress can't see the need for this, being blind and all from selfishly seeing too much green and wielding too much power. So, I say, "Heck, let's move the Capital to North Dakota where they not only can see, but their "vision" is quite clear!" Start all over with new Congressmen and Senators; then, turn DC completely into a museum - nothing there but old relics with the same old tired thinking anyways!


Yup, moving the Capital to North Dakota would be alright with me...this one's really had it!

Unhappy Anniversary: NAFTA Fifteen Years Later

“NAFTA is really less about trade than it is about investment. Its principal goal is to protect US companies and investors operating in Mexico. The text of the agreement is contained in two volumes covering more than 1,100 pages. Buried in the fine print are provisions that will give away American jobs and radically reduce the sovereignty of the US.” -- Ross Perot

What CANADIANS are saying about NAFTA after 15 years.

U.S. multinational corporations (including the financial industry) and their CEO's have profited greatly from international trade thanks to increasing use of low-wage labor and trade agreements guaranteeing them tariff-free access to U.S. consumer markets for their foreign-made merchandise.



Unfortunately, (not surprisingly) Obama is already contradicting himself on the trade agreements as shown in the Lou Dobbs segment above left. Don't mis-understand me - I'm not trashing Obama. It's just what all politicians do: say something, do something entirely different. Actually, I've got a great deal of sympathy for the man - he's walking into a caldera of problems. I'm hoping for the best! AND THEN, there's Wal-Mart and China in bed together. Watch the video above right. If there is ONE resolution I am MAKING right now, it's that I WILL NOT go to Wal-Mart this year!

...I think this article below sums it all up nicely. Take a read on this one, worth it! More soon!

Cranking Up the Presses
Published 12/19/08 Gerald Spencer

The U.S. government is apparently going to continue to just crank up the presses and print more dollars, T-Bills, Government Bonds, etc. to pay for the negative balance of trade, government payrolls, bailouts, entitlements, pork barrels, operations, social schemes, wars, new infrastructure, wealth re-distribution etc. every time they need to pay the bills.

Since the U.S. government stopped redeeming U.S. dollars for gold, foreign governments and foreign individuals continue to use these dollars (and other U.S. securities they earned from their exports to the USA) to purchase real estate, industries, breweries, hotels, factories, financial institutions and everything else of value that is located in the USA.

We paid these foreigners with our dollars to manufacture or supply the things that we imported and consumed (rather than working to make these products ourselves in this country). There is probably a limit to the amount of paper dollars that the foreign country manufacturing people and the foreign country raw material supplying people will continue to accept in payment. This will become apparent as soon as foreigners own everything of value in the USA and there is nothing left to sell. America is selling our children's legacy to foreign owners and the government calls it "Investing in America." The USA population will become employees (or maybe slaves) to the foreign countries and individuals that will own everything of value in the USA.

The foreigners know that these U.S. dollars will buy less and less each day that they do not spend them. They also know these securities are not redeemable for anything except the "full faith and credit of the USA" (aka junk bonds).

Only a foreign trade surplus will increase our gold reserves and the purchasing value of our currency. Without correcting our balance of trade, big dollars for new construction of infrastructure will not stop the declining buying power of the dollar. The more money that we print, the less buying power each dollar will have. We need to re-industrialize and manufacture the things that we consume, rather than sending our dollars overseas to pay people in foreign countries to manufacture the things that we consume.

If we do not look at the long term economic protection of the purchasing power of our currency, all of this big spending with printed money to reduce unemployment will probably cause inflation sufficient enough to result in a $100.00 price for a loaf of bread. This could also reduce this nation to third world living standard.

It is not the foreign entities' fault that our condition exists. We created this condition ourselves. We have destroyed most of our industries that were located in the U.S. because they created pollution. Why should we make the things that we consume as long we can get people in other countries to work to make these things for our consumption? We can pay them with freshly printed paper currencies that they can redeem by exchanging them for title to our real estate and our remaining businesses (instead of Gold). Our Stupid Legislators, Ignorant Government Employees, Bad Corporate Managers, Greedy Unions, Wall Street Master Criminals, NAFTA, EPA, and OSHA, just to name a few, have created this situation.

How can we ever re-start our industries (re-industrialize) to generate a positive balance of trade? Most of the men who knew how to operate the basic industry factories are now long dead. There are no books that completely tell how to do most of the things that we knew how to do years ago when we created the industries that won WWII and gave us our bountiful way of life.


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(There are links to the right under "Recommended Links" to help you contact your Representatives and Senators.)


visitor stats

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15 yrs of NAFTA killing U.S.

By: moonlightcowboy, 11:56 PM GMT on January 01, 2009

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NAFTA has been a disaster. A disaster all the way around for the US and Canada, too. And, really also for Mexico in many ways. The problem is that many of our big corporations and these multi-national corporations have so successfully pedaled their influence to Washington that they've created trade agreements that have been counter-productive and produced exactly the opposite of their so-called "intended" results. Profit-motivated greed has eventually led to corrupt complicity with foreign investment because of our borrowing, making matters considerably worse.

It has caused the US great troubles. When the whole prospect of this was going on back in '92 near its signing I was kind of indifferent about it. I thought it had potential, but I was also impressed by the "sucking sound" narratives of Ross Perot, then a presidential contender. He made me consider it more closely and I wish we had all listened to him.

I've recently gone back and listened to Bill Clinton's NAFTA advocation speech and guess what? It sounds totally ludicrous! We ALL should have discerned that the Mexican populace hardly made any money (nor now even really comparatively), so how were they supposed to buy our "exports?" It's simple - they couldn't, not even if they had wanted! Trade that once hammered along just fine, now has turned into huge US deficits, ruining American jobs and pressuring wages downward.

Unfortunately, it's taken on an even more serious plight. It has managed to greatly erode our wealth, our tax base to the point that we can no longer fund our own government. Nor will we be able to anytime soon! Granted, it's not just the NAFTA agreement for they've plenty of very similar company. NAFTA and other foreign trade agreements have left the US with a dying manufacturing base, shipped and out-sourced jobs and a growing number of jobless and nearly hopeless Americans. And, the ironic thing is that we keep pouring more and more money into an education abyss that continues to produce poorer and poorer results for jobs that don't and won't exist! Go figure!

Washington has to fundamentally change in order to restore our wealth. We must renegotiate these agreements, these thieves of sovereignty. They are not "free-trade" agreements as they appear on the surface either. They come with a multitude of stipulations that mostly make it substantially more "fair" to the other trading partners. Until these agreements and the "Value Added Tax" have been renegotiated or just killed, the US is simply crippled. We can not be a superpower much longer with a spiraling debt, borrowing and spending with no created wealth. America must regain its position of strength. Until then, we're going to be at the mercy of the foreign bankers and investors who clandestinly helped shape these agreements. And, with us borrowing more than a trillion dollars in 2009 the situation is only getting considerably worse. We must press Congress and PEOTUS Obama to put these agreements at the top of their very large pile of things they MUST do and soon! (There are links to the right under "Recommended Links" to help you contact your Representatives and Senators.)




Bill Clinton explains the benefits of NAFTA and in the presidential debates Hillary Clinton admits NAFTA was a mistake.

Unhappy Anniversary: NAFTA Fifteen Years Later
>

As we mourn the fifteenth anniversary of the implementation of the deleterious “free trade” agreement that is the North American Free Trade Agreement, it is important to look back and examine just what an utter disaster it has been for the United States.

Proponents of NAFTA asserted that the agreement would create hundreds of thousands of jobs in America, Canada and Mexico. They promised to turn a small trade surplus with Mexico into a huge surplus that would benefit all three countries involved. Illegal immigration would be a thing of the past as jobs in Mexico would be plentiful and lucrative. Free traders talked openly of cheaper goods for American consumers with newfound purchasing power and unprecedented surges in exports to markets never before opened to U.S. products. Of course, none of that panned out and those free trade advocates failed to mention what the biggest U.S. export would be: good-paying American jobs.


“NAFTA is really less about trade than it is about investment,” former presidential candidate Ross Perot once said of NAFTA. “Its principal goal is to protect US companies and investors operating in Mexico. The text of the agreement is contained in two volumes covering more than 1,100 pages. Buried in the fine print are provisions that will give away American jobs and radically reduce the sovereignty of the US.”

Prior to the implementation of NAFTA, the U.S. held a small trade surplus with Mexico of approximately $10 million. By 2007, that surplus had turned into an astounding $91 billion trade deficit. With Canada and Mexico combined, the U.S. has taken a $24 billion trade deficit prior to NAFTA and turned it into a $190 billion deficit - a 691 percent increase.

NAFTA was also supposed to usher in a new age of prosperity among the American people as thousands upon thousands of good-paying jobs were to be created through the increase in trade surplus that never quite came to fruition. As you can imagine, just the opposite happened. Each and every year more and more jobs are outsourced to Mexico where labor is incredibly cheap and environmental concerns are a mere afterthought. The raft of jobs outsourced to Mexico forced American workers into direct competition with one another and drove down wages for all.



One notable line in the CNN Larry King debete between Al Gore and Ross Perot was Perot's line of "you can't export to people that don't make any money!(pf)"


Now Americans are forced to compete, not only with one another, but also with Mexican workers who are willing to work for much less than the average American. In the U.S., the average factory worker makes roughly $18 per hour while his Mexican counterpart earns just $3 per hour. This has encouraged a “race to the bottom” in which American companies are frequently relocating production facilities across the border. Iconic American companies such as Coca Cola, Ford, RCA, General Motors, General Electric and Nokia have all opened up assembly plants in Mexico. In fact, GE employs 30,000 Mexicans in 35 factories in the country.

"NAFTA began it. We see nothing good about it," said Sue Levy, of United Auto Workers Region 1-D. "It's been used as a way to eliminate manufacturing jobs in the U.S. for low wages and no environmental protections.

This race to the bottom has had a devastating effect on America’s manufacturing base. Pre-NAFTA, the U.S. had 16.8 people employed in the manufacturing field. By 2007, that number was down to just 13.9 million. That accounts for over 20 percent of America’s manufacturing jobs over the past 14 years. Those good-paying manufacturing jobs have been replaced by low-paying service sector jobs with little or no benefits.

Another broken promise of NAFTA was the idea that the trade deal would be a boon for American farmers. Since NAFTA was implemented, 300,000 family farms in the U.S. have been put out of business. Overall, net farm incomes are down 13 percent.

The failure of NAFTA could not be evidenced more clearly than through the influx of illegal immigrants that have entered the U.S. since 1993. Illegal immigrants in the U.S. have increased to 12 million today from 3.9 million in 1993, accounting for an overall increase of over 300 percent.


Ross Perot warned of this problem when he said, “As manufacturing in northern Mexico expands, hundreds of thousands of Mexican workers will be drawn north. They will quickly find that wages in the Mexican maquiladora plants cannot compete with wages anywhere in the U.S. Out of economic necessity, many of these mobile workers will consider illegally immigrating into the U.S. In short, NAFTA has the potential to increase illegal immigration, not decrease it.”




In all, NAFTA has clearly been an utter disaster that America would have been better off without. “Clearly, NAFTA has never delivered on its promises,” former U.S. Rep. Phil English said of NAFTA. “We need to redesign NAFTA so it's not a race to the bottom.”


What CANADIANS are saying about NAFTA after 15 years.

U.S. multinational corporations (including the financial industry) and their CEO's have profited greatly from international trade thanks to increasing use of low-wage labor and trade agreements guaranteeing them tariff-free access to U.S. consumer markets for their foreign-made merchandise.



Unfortunately, (not surprisingly) Obama is already contradicting himself on the trade agreements as shown in the Lou Dobbs segment above left. Don't mis-understand me - I'm not trashing Obama. It's just what all politicians do: say something, do something entirely different. Actually, I've got a great deal of sympathy for the man - he's walking into a caldera of problems. I'm hoping for the best! AND THEN, there's Wal-Mart and China in bed together. Watch the video above right. If there is ONE resolution I am MAKING right now, it's that I WILL NOT go to Wal-Mart this year!

...I think this article below sums it all up nicely. Take a read on this one, worth it! More soon!

Cranking Up the Presses
Published 12/19/08 Gerald Spencer

The U.S. government is apparently going to continue to just crank up the presses and print more dollars, T-Bills, Government Bonds, etc. to pay for the negative balance of trade, government payrolls, bailouts, entitlements, pork barrels, operations, social schemes, wars, new infrastructure, wealth re-distribution etc. every time they need to pay the bills.

Since the U.S. government stopped redeeming U.S. dollars for gold, foreign governments and foreign individuals continue to use these dollars (and other U.S. securities they earned from their exports to the USA) to purchase real estate, industries, breweries, hotels, factories, financial institutions and everything else of value that is located in the USA.

We paid these foreigners with our dollars to manufacture or supply the things that we imported and consumed (rather than working to make these products ourselves in this country). There is probably a limit to the amount of paper dollars that the foreign country manufacturing people and the foreign country raw material supplying people will continue to accept in payment. This will become apparent as soon as foreigners own everything of value in the USA and there is nothing left to sell. America is selling our children's legacy to foreign owners and the government calls it "Investing in America." The USA population will become employees (or maybe slaves) to the foreign countries and individuals that will own everything of value in the USA.

The foreigners know that these U.S. dollars will buy less and less each day that they do not spend them. They also know these securities are not redeemable for anything except the "full faith and credit of the USA" (aka junk bonds).

Only a foreign trade surplus will increase our gold reserves and the purchasing value of our currency. Without correcting our balance of trade, big dollars for new construction of infrastructure will not stop the declining buying power of the dollar. The more money that we print, the less buying power each dollar will have. We need to re-industrialize and manufacture the things that we consume, rather than sending our dollars overseas to pay people in foreign countries to manufacture the things that we consume.

If we do not look at the long term economic protection of the purchasing power of our currency, all of this big spending with printed money to reduce unemployment will probably cause inflation sufficient enough to result in a $100.00 price for a loaf of bread. This could also reduce this nation to third world living standard.

It is not the foreign entities' fault that our condition exists. We created this condition ourselves. We have destroyed most of our industries that were located in the U.S. because they created pollution. Why should we make the things that we consume as long we can get people in other countries to work to make these things for our consumption? We can pay them with freshly printed paper currencies that they can redeem by exchanging them for title to our real estate and our remaining businesses (instead of Gold). Our Stupid Legislators, Ignorant Government Employees, Bad Corporate Managers, Greedy Unions, Wall Street Master Criminals, NAFTA, EPA, and OSHA, just to name a few, have created this situation.

How can we ever re-start our industries (re-industrialize) to generate a positive balance of trade? Most of the men who knew how to operate the basic industry factories are now long dead. There are no books that completely tell how to do most of the things that we knew how to do years ago when we created the industries that won WWII and gave us our bountiful way of life.


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The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.

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About moonlightcowboy

"There is no heavier burden than a great potential." - Charles Schultz, in the Peanut's character of Linus.