Jul
24
What Doesn’t the FED Want You To Know?
Filed Under Economics | Leave a Comment
Heroic.
Visit msnbc.com for Breaking News, World News, and News about the Economy
The most successful heists are the ones that occur every day that we are not even aware of. The Federal Reserve, the quasi-governmental agency run by ex-bankers, that controls the money supply, interest rates and manages the economy is an agency very few are familiar with.
Given the trillions of taxpayer dollars on the hook and the delicate state our economy is in, H.R. 1207 aims to audit the ongoing Federal Reserve activities.
For years, the author of this bill, Ron Paul, has spoken up and drawn attention to the importance of sound money (money with tangible value, like gold and silver) and an economy which is not micromanaged by ex-bankers or manipulated in a secretive fashion. Paul has always been a political outsider and it is good to finally see his attempts to uncover the truth finally gain some momentum.
Since politicians, like all of us, are self-interested, we need to exert our influence and let them know we expect this bill to pass.
Since this bill would expose a great deal of financial/governmental/corporate connections, it would not surprise me if there is another financial panic/disaster and this bill is pushed aside to give even more power to the Fed and Executive Branch.
The above video speaks volumes about the shape of our economy and the level of dishonesty that is fraught in our financial and economic system.
Takeaway: As a man, it is imperative to be ever-inquisitive, curious and non-complacent. Reading and questioning your beliefs can help you generate an Accurate Model of Reality and prepare better for your future. Think for yourself and stand up for what you believe in, even if you stand alone.
hat tip: Zero Hedge
Jul
20
Model T’s and Loved Ones
Filed Under Fatherhood | Leave a Comment
I saw a beautiful Model T the other day. This 90 year-old entry-level vehicle is shown below. It amazes me that a caring owner can keep something this old in such good working order.
Since America is an instant gratification society with an ever-declining attention span, I was delighted to see this piece of human accomplishment so well-maintained and well cared for. It brought to mind some important facts.
There are many parallels between taking care of a motor vehicle and taking care of your loved ones. For husbands and fathers, it is important to know that the values that make cars last also make relationships last.
Preventative Maintenance – The Model T obviously required an inordinate amount of maintenance over the years from its owner. Preventative maintenace is part of being a great husband and great father. It takes years and years of daily care and attention in any relationship to build up a level of trust.
Patience – A loving relationship requires extraordinary amounts of patience and work. It is easier to get into flings and shallow relationships/friendships, but the rewards aren’t as great. The rewards of an honest, patient relationship are worth it. A high level of trust makes it easier to get through the rough patches.
Pride – The man who owned the Model T took time out of his day to explain to me the nuances of his vehicle. He showed me the old-fashioned horn, the gears and the antique headlights. His actions and demeanor spoke for themselves. Pride in your loved ones comes from patience and mutual respect. Pride is not buying an expensive ring, it is holding the door; fifty years later.
Takeaway: There are some cars that are new and flashy that never satisfy an impatient owner for very long. A luxurious Buick or Cadillac, well-maintained and well-cared for, only gets better with age.
Your family is with you from the time you are an infant until the time you have children or grandchildren of your own. Treat them them with pride and your investment will last a lifetime.
Jul
16
Don’t Give Up Your Power
Filed Under Intellectual Honesty | Leave a Comment
As we travel down an unsustainable path of reckless borrowing, spending and wastefulness, the misdirection of party politics (liberal vs democrat, D vs R) will eventually yield to curiosity and a desire for understanding.
When you see more concern about the desire to uncover the truth than a party “winning” or “being right”, we’ll be on the right track. The sooner, the better.
When the promises that “Government will provide (insert entitlement here)” go unfulfilled, only then will we realize that costs must be borne by individuals. A woman with five children can, should and will pay more for healthcare, resources and lifestyle as a result of her actions.
The answer we will learn (the hard way) over the next few years is to stop ceding our power to the Fed, Treasury and governments since we can only rely on ourselves and those around us.
Hopefully, when this realization occurs, we will demand our power back instead giving away more of our rights, liberties and responsibilities. Only then can the healing begin.
Jul
15
MorganStanleySmithBarney Ad
Filed Under Intellectual Honesty | 1 Comment
Disgraced financial institutions Merrill Lynch, Bank of America, Morgan Stanley and SmithBarney were all hours from keeling over last fall.
That hasn’t stopped them from publishing gaudy, chest-thumping ads about their own greatness.
Since the coming together of Bank of America and Merrill Lynch1, we’ve emerged as a business of strength2, size and capability. Our two top-tier3 firms are now one financial powerhouse4, offering you an unrivaled range of financial solutions, and the ability to more efficiently structure and close deals5. In fact, we’re already doing just that with leading companies and institutional investors around the world. Our aim is clear: To continue delivering on the great potential of our union by helping to grow businesses like yours. And in doing so, build a shared prosperity for the future6.
- Thanks to an illegal shotgun marriage involving secrecy and corruption at the highest levels of the government.
- Please don’t make us mark to market because then we would be insolvent!
- Top tier firms in banking often need explicit and implicit bailouts…
- Dutifully leeching off the taxpayer…
- Do you have any deals? Please let us know we are hurting!
- (Tear rolls down cheek) Fin.
This ad is just bizarre. Standing on a ladder with binoculars in the middle of nowhere? Well, you convinced me…
Please… take my money, charge me fees for your “research” and let me benefit from your years of experience. Oh. Wait. Nevermind…
Takeaway: Merrill Lynch, Bank of America, Morgan Stanley and SmithBarney are only standing today because the taxpayer had to bail them out. Their scorn is well-deserved.
Jul
14
Food Stamps Economics
Filed Under Economics | Leave a Comment
Never discussed on CNBC is the fact that more people than ever before are requesting food stamps. Bloomberg reports that 33.8 million people in the US are receiving food stamps.
Given that the US has a population of just over 300 million, this means over 1 out of every 10 Americans are currently getting food stamps from the government.
Keep in mind, Obama has acknowledged unemployment will “tick up” over the next several months.
Other economic facts:
- California is unable to pay its bills and is paying with IOUs
- Unemployment shows no signs of slowing down
- Global wage competition for jobs means fewer well-paying jobs
- City/State governments are at the brink of insolvency
- Credit has dried up and consumer spending is dead
Now, what happens if:
- There is a terrorist attack
- There is a large natural disaster
- There is a refusal to buy US Treasuries
- There is a viral outbreak
Do you really think the economy can survive and still generate 8% returns per year? Do you really believe this is just another run of the mill recession and that we are immune from a Depression? Why?
Takeaway: The rally from March – July has been based on nothing but speculation and groundless optimism that the “bottom is in”. If you have your 401(k) in stocks, please be advised that your upside is e-x-t-r-e-m-e-l-y limited! If you’ve been lucky enough to have cash invested through this rally from April, now is the time to get out.