BATON ROUGE – Today, Governor Bobby Jindal held the first in what will be a series of weekly economic briefing meetings on Louisiana’s economic climate.
The Governor requested that Division of Administration Commissioner Angele Davis, Economic Development Secretary Stephen Moret, Natural Resources Secretary Scott Angele, Revenue Secretary Cynthia Bridges, Workforce Commission Director Tim Barfield, and Office of Financial Institutions Secretary John Ducrest all attend today’s briefing in order to discuss the state’s current economic environment, in light of recent declining economic conditions across the nation.
Governor Jindal said, “As we continue to focus on our state’s recovery and rebuilding efforts, we must also keep a steady pulse on the national economic climate so we have the most up to date information on economic shifts and trends that can affect our Louisiana businesses, workers, oil prices, housing market, and even our state revenue. In order to ensure that we are fully engaged and ready to proactively address evolving national economic conditions relating to our state, we will hold weekly economic briefing meetings with key economic advisors for the next several months.”
Today’s economic briefing meeting with the Governor will be the first in a series of several weekly meetings to discuss economic conditions as they continue to evolve nationally, and what impact they may have in Louisiana. In particular, Louisiana has been hit hard by the ravages of the recent hurricanes and its economy is directly impacted by the elements and the price of oil and gas.
Sorry about skipping out on your question on oil KPF..... Market fluctations, and market calls....... Supply and demand to a certain extent, but I think a lot of it is the artificial dumping of capital into that pool, and they all want a return... I don't know enough about all the particulars to be authoritive, but I do have my ideas........... Written by
on 10/16/2008
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You are so close, and then so far, and then so close again there KPF....... Stern contemplations on this issue should be in order....... It is very easy to fix/accommodate/cause into fruition in a very economical-fair-and effective fashion.... There are way more solutions out there than detriments if we put our collective minds to it.......... And it is important, this insurance issue, folks going bankrupt because of doctors improper diagnosis, inflated costs, corporate involvement, insurance for malpractice and on and on and on..... It needs to be dissected, evaluated, and recommendations made....... When you see someone about to lose a leg because of a spider bite and no access to a cheap anti biotic or some form of an antidote or anti venom it is a shame...... Emergency room abuse is rampant, fraud is rampant, and the inflated load as a result of illegal aliens etc., etc., etc. is a shame....... I can tell you one thing, after listening to Obama’s flippant remarks where abortion and its affects are concerned or construed I can tell you right now that piece of dog chit isn’t fit to wear men’s trousers let alone lead the greatest nation on the face of the earth… Written by
on 10/16/2008
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Falling oil prices are good? Shouldn't we "stabilize" this price higher than its market value? No? I agree. But let's be consistent. Why should the price of anything be artificially high or low? That's "the real debate." I just don't get it I suppose.. but why when so many cry that we need "affordable housing" then turn around to artificially prop up housing prices when their value decreases? Doesn't the ever lower price of housing move us closer to the "affordable housing" we so desire? More to the point, Herbert Hoover and FDR BOTH advocated artificially maintaining prices. A mistake. Let the market determine the price of one commodity vs. another. Stocks go up and down, so will the price of anything else. The market reflects the true value of goods and labor, and more importantly INDICATES where more or less of our time and money NEEDS to be spent. "Speaking words of wisdom, let it be." Written by kpf
on 10/16/2008
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O.K. folks, excellent news out there for those who aren't 'in-the-know'.... Credit Suisse, 5+bil infusion..... This is the lead indicator, next Monday, last of down turns.... Speaking of downturns, when the original 750 billion was proposed, I had optimistically (and there is that damned optimistic word) stated 1.5 trillion or better, (I was leaning towards 2.2 trillion+, they trumped and now it stands at 2.5 trillion injections).... You can look for stabilization of real estate into the end of the 1st quarter in 2009 on this issue.... Oil, dropping below $75.00, look for a $67.00 per barrel price (hopefully)...... If we stabilize the Columbia problem could even see as low as $62.00... Columbia I say? Yeah folks, you have to look at the abstracts..... Joe the plumber, interesting topic.... Pretty much along the lines of where Spunkie is going to get his money, and as you can plainly see T-Duuuuuuuuhhhhhhhbbbbb;b, Plumbers do make a 1/4 million or better per year....... Anybody want to get into donuts? It is great for some extra dough, that is until you get tired of the hole business (hole/whole - nayuck-ncuk-nuck-nuck-nuck)....... O.K. Health care reform, very important and until upfront and behind the counter prices are regulated into a more manageable package, this is a moot subject...... Would like to add into that but who is listening? Oh, the 2.5 trillion, o.k. KPF, dance, dance, dance... I have to agree with you on that, it isn't good, but it isn't a ball buster either.... But it is close... It amounts to around .66 cents a day per man woman and child for the next 30 years..... I am still sort of pissed off on the failure of the 2.5 to 1 leverage that was possible... Obama says he is going to address it in his first 120 days in office..... Big joke, the deal is already done... Sort of like Clinton being stuck with the no fly zones that he played hell with trying to enforce..... Well folks, go with McCain, things won't be the same, and I think we have a chance if we focus and discuss and work diligently towards solutions...... Bye Bye now.................. I have more to say, but you are only capable of absorbing so much at one sitting I suppose, talk about limited attention spans.....;. sheesh, but for those others, luv's ya................. Written by
on 10/16/2008
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A penny saved is a penny earned. Written by Ben Franklin
on 10/16/2008
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Dear Governor 'Bobby' Jindal, I have been seeing accounts that seem to indicate that you have no idea whatsover what the value of money, or the meaning of an economy is. I will post this so you can get a crash course in their effects. It is truly sad to see such an ignorant person in the position of leadership such as you are. Suppose you give me a million dollars with the instructions, "Invest this profitably, and I'll pay you well." I'm a sharp dresser -- why not? So I go out onto the street and hand out stacks of bills to random passers-by. Ten thousand dollars each. In return, each scribbles out an IOU for $20,000, payable in five years. I come back to you and say, "Look at these IOUs! I have generated a 20% annual return on your investment." You are very pleased, and pay me an enormous commission.
Now I've got a big stack of IOUs, so I use these "assets" as collateral to borrow even more money, which I lend out to even more people, or sell them to others like myself who do the same. I also buy insurance to cover me in case the borrowers default -- and I pay for it with those self-same IOUs! Round and round it goes, each new loan becoming somebody's asset on which to borrow yet more money. We all rake in huge commissions and bonuses, as the total face value of all the assets we've created from that initial million dollars is now fifty times that.
Then one day, the first batch of IOUs comes due. But guess what? The person who scribbled his name on the IOU can't pay me back right now. In fact, lots of the borrowers can't. I try to hush this embarrassing fact up as long as possible, but pretty soon you get suspicious. You want your million dollars back -- in cash. I try to sell the IOUs and their derivatives that I hold, but everyone else is suspicious too, and no one buys them. The insurance company tries to cover my losses, but it can only do so by selling the IOUs I gave it!
So finally, the government steps in and buys the IOUs, bails out the insurance company and everyone else holding the IOUs and the derivatives stacked on them. Their total value is way more than a million dollars now. I and my fellow entrepreneurs retire with our lucre. Everyone else pays for it.
This is the first level of what has happened in the financial industry over the past decade. It is a huge transfer of wealth to the financial elite, to be funded by US taxpayers, foreign corporations and governments, and ultimately the foreign workers who subsidize US debt indirectly via the lower purchasing power of their wages. However, to see the current crisis as merely the result of a big con is to miss its true significance.
I think we all sense that we are nearing the end of an era. On the most superficial level, it is the era of unregulated casino-style financial manipulation that is ending. But the current efforts of the political elites to fix the crisis at this level will only reveal its deeper dimensions. In fact, the crisis goes "all the way to the bottom." It arises from the very nature of money and property in the world today, and it will persist and continue to intensify until money itself is transformed. A process centuries in the making is in its final stages of unfoldment.
Money as we know it today has crisis and collapse built into its basic design. That is because money seeks interest, bears interest, and indeed is born of interest. To see how this works, let's go back to some finance basics. Money is created when somebody takes out a loan from a bank (or more recently, a disguised loan from some other kind of institution). A debt is a promise to pay money in the future in order to buy something today; in other words, borrowing money is a form of delayed trading. I receive something now (bought with the money I borrowed) and agree to give something in the future (a good or service which I will sell for the money to pay back the debt). A bank or any other lender will ordinarily only agree to lend you money if there is a reasonable expectation you will pay it back; in other words, if there is a reasonable expectation you will produce goods or services of equivalent value. This "reasonable expectation" can be guaranteed in the form of collateral, or it can be encoded in one's credit rating.
Any time you use money, you are essentially guaranteeing "I have performed a service or provided a good of equivalent value to the one I am buying." If the money is borrowed money, you are saying that you will provide an equivalent good/service in the future.
Now enter interest. What motivates a bank to lend anyone money in the first place? It is interest. Interest drives the creation of money today. Any time money is created through debt, a need to create even more money in the future is also created. The amount of money must grow over time, which means that the volume of goods and services must grow over time as well.
If the volume of money grows faster than the volume of goods and services, the result is inflation. If it grows more slowly -- for example through a slowdown in lending -- the result is bankruptcies, recession, or deflation. The government can increase or decrease the supply of money in several ways. First, it can create money by borrowing it from the central bank, or in America, from the Federal Reserve. This money ends up as bank deposits, which in turn give banks more margin reserves on which to extend loans. You see, a bank's capacity to create money is limited by margin reserve requirements. Typically, a bank must hold cash (or central bank deposits) equal to about 10% of its total customer deposits. The other 90%, it can loan out, thus creating new money. This money ends up back in a bank as deposits, allowing another 81% of it (90% of 90%) to be lent out again. In this way, each dollar of initial deposits ends up as $9 of new money. Government spending of money borrowed from the central bank acts a seed for new money creation. (Of course, this depends on banks' willingness to lend! In a credit freeze such as happened this week, banks hoard excess reserves and the repeated injections of government money have little effect.)
Another way to increase the money supply is to lower margin reserve requirements. In practice this is rarely done, at least directly. However, in the last decade, various kinds of non-bank lending have skirted the margin reserve requirement, through the alphabet soup of financial instruments you've been hearing about in the news. The result is that each dollar of original equity has been leveraged not to nine times it original value, as in traditional banking, but to 70 times or even more. This has allowed returns on investment far beyond the 5% or so available from traditional banking, along with "compensation" packages beyond the dreams of avarice.
Each new dollar that is created comes with a new dollar of debt -- more than a dollar of debt, because of interest. The debt is eventually redeemed either with goods and services, or with more borrowed money, which in turn can be redeemed with yet more borrowed money... but eventually it will be used to buy goods and services. The interest has to come from somewhere. Borrowing more money to make the interest payments on an existing loan merely postpones the day of reckoning by deferring the need to create new goods and services.
The whole system of interest-bearing money works fine as long as the volume of goods and services exchanged for money keeps growing. The crisis we are seeing today is in part because new money has been created much faster than goods and services have, and much faster than has been historically sustainable. There are only two ways out of such a situation: inflation and bankruptcies. Each involve the destruction of money. The current convulsions of the financial and political elites basically come down to a futile attempt to prevent both. Their first concern is to prevent the evaporation of money through massive bankruptcies, because it is, after all, their money.
There is a much deeper crisis at work as well, a crisis in the creation of goods and services that underlies money to begin with, and it is this crisis that gave birth to the real estate bubble everyone blames for the current situation. To understand it, let's get clear on what constitutes a "good" or a "service." In economics, these terms refer to something that is exchanged for money. If I babysit your children for free, economists don't count it as a service. It cannot be used to pay a financial debt: I cannot go to the supermarket and say, "I watched my neighbor's kids this morning, so please give me food." But if I open a day care center and charge you money, I have created a "service." GDP rises and, according to economists, society has become wealthier.
The same is true if I cut down a forest and sell the timber. While it is still standing and inaccessible, it is not a good. It only becomes "good" when I build a logging road, hire labor, cut it down, and transport it to a buyer. I convert a forest to timber, a commodity, and GDP goes up. Similarly, if I create a new song and share it for free, GDP does not go up and society is not considered wealthier, but if I copyright it and sell it, it becomes a good. Or I can find a traditional society that uses herbs and shamanic techniques for healing, destroy their culture and make them dependent on pharmaceutical medicine which they must purchase, evict them from their land so they cannot be subsistence farmers and must buy food, clear the land and hire them on a banana plantation -- and I have made the world richer. I have brought various functions, relationships, and natural resources into the realm of money. In The Ascent of Humanity I describe this process in depth: the conversion of social capital, natural capital, cultural capital, and spiritual capital into money.
Essentially, for the economy to continue growing and for the (interest-based) money system to remain viable, more and more of nature and human relationship must be monetized. For example, thirty years ago most meals were prepared at home; today some two-thirds are prepared outside, in restaurants or supermarket delis. A once unpaid function, cooking, has become a "service". And we are the richer for it. Right?
Another major engine of economic growth over the last three decades, child care, has also made us richer. We are now relieved of the burden of caring for our own children. We pay experts instead, who can do it much more efficiently.
In ancient times entertainment was also a free, participatory function. Everyone played an instrument, sang, participated in drama. Even 75 years ago in America, every small town had its own marching band and baseball team. Now we pay for those services. The economy has grown. Hooray.
The crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left to convert into money. Centuries, millennia of near-continuous money creation has left us so destitute that we have nothing left to sell. Our forests are damaged beyond repair, our soil depleted and washed into the sea, our fisheries fished out, the rejuvenating capacity of the earth to recycle our waste saturated. Our cultural treasury of songs and stories, images and icons, has been looted and copyrighted. Any clever phrase you can think of is already a trademarked slogan. Our very human relationships and abilities have been taken away from us and sold back, so that we are now dependent on strangers, and therefore on money, for things few humans ever paid for until recently: food, shelter, clothing, entertainment, child care, cooking. Life itself has become a consumer item. Today we sell away the last vestiges of our divine bequeathment: our health, the biosphere and genome, even our own minds. This is the process that is culminating in our age. It is almost complete, especially in America and the "developed" world. In the developing world there still remain people who live substantially in gift cultures, where natural and social wealth is not yet the subject of property. Globalization is the process of stripping away these assets, to feed the money machine's insatiable, existential need to grow. Yet this stripmining of other lands is running up against its limits too, both because there is almost nothing left to take, and because of growing pockets of effective resistance.
The result is that the supply of money -- and the corresponding volume of debt -- has for several decades outstripped the production of goods and services that it promises. It is deeply related to the classic problem of oversupply in capitalist economics. The Marxian crisis of capital can be deferred into the future as long as new, high-profit industries and markets can be developed to compensate for the vicious circle of falling profits, falling wages, depressed consumption, and overproduction in mature industries. The continuation of capitalism as we know it depends on an infinite supply of these new industries, which essentially must convert infinite new realms of social, natural, cultural, and spiritual capital into money. The problem is, these resources are finite, and the closer they come to exhaustion, the more painful their extraction becomes. Therefore, contemporaneous with the financial crisis we have an ecological crisis and a health crisis. They are intimately interlinked. We cannot convert much more of the earth into money, or much more of our health into money, before the basis of life itself is threatened.
Faced with the exhaustion of the non-monetized commonwealth that it consumes, financial capital has tried to delay the inevitable by cannibalizing itself. The dot-com bubble of the late 90s showed that the productive economy could not longer keep up with the growth of money. Lots of excess money was running around frantically, searching for a place where the promise of deferred goods and services could be redeemed. So, to postpone the inevitable crash, the Fed slashed interest rates and loosened monetary policy to allow old debts to be repaid with new debts (rather than real goods and services). The new financial goods and services that arose were phony, artifacts of deceptive accounting on a vast, systemic scale.
Obviously, the practice of borrowing new money to pay the principal and interest of old debts cannot last very long, but that is what the economy as a whole has done for ten years now. Unfortunately, simply stopping this practice isn't going to solve the underlying problem. A collapse is coming, unavoidably. The government's bailout plan will at best postpone it for a year or two (who knows, maybe until 2012!), long enough for the big players to move their money to a safe haven. They will discover, though, that there is no safe haven. As the US dollar loses its safe-haven status (which will happen all the more certainly when the government takes over Wall Street's bad debts), you can expect capital to chase various commodities in an inflationary surge before a deflationary depression takes hold. If a credit freeze overpowers the government's inflationary measures, depression will come all the sooner.
The present crisis is actually the final stage of what began in the 1930s. Successive solutions to the fundamental problem of keeping pace with money that expands with the rate of interest have been applied, and exhausted. The first effective solution was war, a state which has been permanent since 1940. Nuclear weapons and a shift in human consciousness have limited the solution of endless military escalation. Other solutions -- globalization, technology-enabled development of new goods and services to replace human functions never before commoditized, and technology-enabled plunder of natural resources once off limits, and finally financial auto-cannibalism -- have similarly run their course. Unless there are realms of wealth I have not considered, and new depths of poverty, misery, and alienation to which we might plunge, the inevitable cannot be delayed much longer.
In the face of the impending crisis, people often ask what they can do to protect themselves. "Buy gold? Stockpile canned goods? Build a fortified compound in a remote area? What should I do?" I would like to suggest a different kind of question: "What is the most beautiful thing I can do?" You see, the gathering crisis presents a tremendous opportunity. Deflation, the destruction of money, is only a categorical evil if the creation of money is a categorical good. However, you can see from the examples I have given that the creation of money has in many ways impoverished us all. Conversely, the destruction of money has the potential to enrich us. It offers the opportunity to reclaim parts of the lost commonwealth from the realm of money and property.
We actually see this happening every time there is an economic recession. People can no longer pay for various goods and services, and so have to rely on friends and neighbors instead. Where there is no money to facilitate transactions, gift economies reemerge and new kinds of money are created. Ordinarily, though, people and institutions fight tooth and nail to prevent that from happening. The habitual first response to economic crisis is to make and keep more money -- to accelerate the conversion of anything you can into money. On a systemic level, the debt surge is generating enormous pressure to extend the commodification of the commonwealth. We can see this happening with the calls to drill for oil in Alaska, commence deep-sea drilling, and so on. The time is here, though, for the reverse process to begin in earnest -- to remove things from the realm of goods and services, and return them to the realm of gifts, reciprocity, self-sufficiency, and community sharing. Note well: this is going to happen anyway in the wake of a currency collapse, as people lose their jobs or become too poor to buy things. People will help each other and real communities will reemerge.
In the meantime, anything we do to protect some natural or social resource from conversion into money will both hasten the collapse and mitigate its severity. Any forest you save from development, any road you stop, any cooperative playgroup you establish; anyone you teach to heal themselves, or to build their own house, cook their own food, make their own clothes; any wealth you create or add to the public domain; anything you render off-limits to the world-devouring machine, will help shorten the Machine's lifespan. Think of it this way: if you already do not depend on money for some portion of life's necessities and pleasures, then the collapse of money will pose much less of a harsh transition for you. The same applies to the social level. Any network or community or social institution that is not a vehicle for the conversion of life into money will sustain and enrich life after money.
In previous essays I have described alternative money systems, based on mutual credit and demurrage, that do not drive the conversion of all that is good, true, and beautiful into money. These enact a fundamentally different human identity, a fundamentally different sense of self, from what dominates today. No more will it be true that more for me is less for you. On a personal level, the deepest possible revolution we can enact is a revolution in our sense of self, in our identity. The discrete and separate self of Descartes and Adam Smith has run its course and is becoming obsolete. We are realizing our own inseparateness, from each other and from the totality of all life. Interest denies this union, for it seeks growth of the separate self and the expense of something external, something other. Probably everyone reading this essay agrees with the principles of interconnectedness, whether from a Buddhistic or an ecological perspective. The time has come to live it. It is time to enter the spirit of the gift, which embodies the felt understanding of non-separation. It is becoming abundantly obvious that less for you (in all its dimensions) is also less for me. The ideology of perpetual gain has brought us to a state of poverty so destitute that we are gasping for air. That ideology, and the civilization built upon it, is what is collapsing today.
Individually and collectively, anything we do to resist or postpone the collapse will only make it worse. So stop resisting the revolution in human beingness. If you want to survive the multiple crises unfolding today, do not seek to survive them. That is the mindset of separation; that is resistance, a clinging to a dying past. Instead, allow your perspective to shift toward reunion, and think in terms of what you can give. What can you contribute to a more beautiful world? That is your only responsibility and your only security. The gifts you need to survive and enjoy will come to you easily, because what you do to the world, you do to yourself.
Written by Charles Einstein
on 10/15/2008
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This election has me very worried. So many things to consider. About a year ago I would have voted for Obama. I have changed my mind three times since than. I watch all the news channels, jumping from one to another. I must say this drives my husband crazy. But, I feel if you view MSNBC, CNN, and Fox News, you might get some middle ground to work with. About six months ago, I started thinking "where did the money come from for Obama". I have four daughters who went to College, and we were middle class, and money was tight. We (including my girls) worked hard and there were lots of student loans.
I started looking into Obama's life.
Around 1979 Obama started college at Occidental in California. He is very open about his two years at Occidental, he tried all kinds of drugs and was wasting his time but, even though he had a brilliant mind, did not apply himself to his studies. "Barry" (that was the name he used all his life) during this time had two roommates, Muhammad Hasan Chandoo and Wahid Hamid, both from Pakistan. During the summer of 1981, after his second year in college, he made a "round the world" trip. Stopping to see his mother in Indonesia, next Hyderabad in India, three weeks in Karachi, Pakistan where he stayed with his roommate's family, then off to Africa to visit his father's family. My question - Where did he get the money for this trip? ! Nether I, nor any one of my children would have had money for a trip like this when they where in college. When he came back he started school at Columbia University in New York. It is at this time he wants everyone to call him Barack - not Barry. Do you know what the tuition is at Columbia? It's not cheap! to say the least. Where did he get money for tuition? Student Loans? Maybe. After Columbia, he went to Chicago to work as a Community Organizer for $12,000. a year. Why Chicago? Why not New York? He was already living in New York.
By "chance" he met Antoin "Tony" Rezko, born in Aleppo Syria, and a real estate developer in Chicago. Rezko has been convicted of fraud and bribery this year. Rezko, was named "Entrepreneur of the Decade" by the Arab-American Business and Professional Association". About two years later, Obama entered Harvard Law School. Do you have any idea what tuition is for Harvard Law School? Where did he get the money for LawSchool? More student loans? After Law school, he went back to Chicago. Rezko offered him a job, which he turned down. But, he did take a job with Davis, Miner, Barnhill & Galland. Guess what? They represented "Rezar" which Rezko's firm. Rezko was one of Obama's first major financial contributors when he ran f! or offi ce in Chicago. In 2003, Rezko threw an early fundraiser for Obama which Chicago Tribune reporter David Mendelland claims was instrumental in providing Obama with "seed money" for his U.S. Senate race. In 2005, Obama purchased a new home in Kenwoood District of Chicago for $1.65 million (less than asking price). With ALL those Student Loans - Where did he get the money for the property? On the same day Rezko's wife, Rita, purchased the adjoining empty lot for full price. The London Times reported that Nadhmi Auchi, an Iraqi-born Billionaire loaned Rezko $3.5 million three weeks before Obama's new home was purchased. Obama met Nadhmi Auchi many times with Rezko.
Now, we have Obama running for President. Valerie Jarrett, was Michele Obama's boss. She is now Obama's chief advisor and he does not make any major decisions without talking to her first. Where was Jarrett born? Ready for this? Shiraz, Iran! Do we see a pattern here? Or am I going crazy?
On May 10, 2008 The Times reported, Robert Malley advisor to Obama was "sacked" after the press found out he was having regular contacts with "Hamas", which controls Gaza and is connected with Iran. This past week, buried in the back part of the papers, Iraqi newspapers reported that during Obama's visit to Iraq, he asked their leaders to do nothing about the war until after he is elected, and he will "Take care of things".
Oh, and by the way, remember the college roommates that where born in Pakistan? They are in charge of all those "small" Internet campaign contribution for Obama. Where is that money coming from? The poor and middle class in this country? Or could it be from the Middle East?
And the final bit of news. On September 7, 2008, The Washington Times posted a verbal slip that was made on "This Week" with George Stephanapoulos. Obama on talking about his religion said, "My Muslim faith". When questioned, "he make a mistake". Some mistake!
All of the above information I got on line. If you would like to check it - Wikipedia, encyclopedia, Barack Obama; Tony Rezko; Valerie Jarrett: Daily Times - Obama visited Pakistan in 1981; The Washington Times -September 7, 2008; The Times May 10, 2008.
Now the BIG question - If I found out all this information on my own, Why haven't all of our "intelligent" members of the press been reporting this?
A phrase that keeps ringing in my ear - "Beware of the enemy from within"!!! Written by Mr. Info Please
on 10/15/2008
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What's the matter with Bobby? Lack of money means not as many video games will be sold this christmas, or the next christmas, and maybe even the next after that making his latest Economic Development pursuit with Electronic Arts or whatever it is a bust? How about GM there Bobby? Oh, they might try to merge with Chrysler.... Well, Mercedes Benz is already firmly located in Alabama... Speaking of Alabama, Oh well, hey, how about the Nucor thing? Don't tell me it is another ThyssenKrupp... Lower fuel/oil prices? Well what did you think was going to happen...... Oh, the value of royalties for offshore protection? Guess again cupcake...... No early selloffs, no one has the money, and besides, there is no valuation that can be attached.... But then again, you would have been happy with 45 cents on the dollar...... You assumed the pilot house, now figure out how to navigate the shoals.......... But I can tell you, if you were a really-really-really wise little Piyush, you would look around and find some very novel concepts to pursue....... Opportunity is all around, it is virtually limitless, that is until our nation is sold down the river....... You poor naive and misguided fool... Written by
on 10/15/2008
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