June 30, 2009

Inflation Argument

Some economists are predicting hyper-inflation. As posted in Deflation Grips the United States, others believe the frozen credit markets will create deflation.

The effects may be balanced, but both of them are bad for American wallets. Here is a video that describes the inflationary argument.


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June 29, 2009

Tea Party Columbia


An Independence Day Tea Party in Columbia is scheduled for July 4th between 12:00 - 2:00.

Columbia Tea Party
Columbia, South Carolina
Saturday, July 4, 2009
11:00-200pm
State House
Main and Gervais
Allen Olson (organizer)
803-466-7217 (organizer phone)

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June 28, 2009

We’re Turning Japanese…

We’re Turning Japanese…

Watch this video that helps explain why the current United States economic policies have a historic precedent of failure in Japan. They call it the lost decade.

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June 27, 2009

Cap and Tax Passes Thru Peoples House

Eight RINOs Vote for Democrat Tax Hike

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June 26, 2009

DeMint on Fed

Here is an interview by Glenn Beck of South Carolina Senator Jim DeMint. DeMint is a cosponsor of the Senate version of the House Bill calling for a change in the law to allow an audit of the Federal Reserve. Present law allows for the Federal Reserve to operate in secrecy.


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June 25, 2009

Cap and Trade Tax--Pelosi Ramrod Job

American People Need to Cry "FOWL!"

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Stop Cap and Trade Bill

Democrats Plan Huge Tax on Poor, Rich, and Middle Class


“[U]nder my plan of a cap and trade system, electricity rates would necessarily skyrocket.” --

Barack Obama

Democrats seem to be using turmoil in Iran and news about Mark Sanford to sneak the law past the eyes of the American people.


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Read The Bill: Cap and Trade Rushing Through Congress

None of Our Leaders are Reading the 1200 Page Bill

Here's something terrifying: Congress passed the $787 billion stimulus bill and we're pretty sure the people who voted on that legislation didn't actually read it. And for sure you didn't have a chance to look at it, either.

That's not the first time important legislation has rushed through Congress in a matter of hours. By hurrying to vote on these bills, members of Congress might miss an earmark or tax break that could have a lasting impact on you and your community.

Let's make sure this doesn't happen again. Sign the petition and demand that Congress Read The Bill:

Sunlight Foundation's Read the Bill Petition

A good contemporary example is the cap and trade energy bill. There is currently some wacky legislative maneuvering going on with H.R. 2454. This is another example of the failure of Congress to make bills properly available. According to the New York Times:

House Democratic leaders late last night released a revamped, 1,201-page energy and global warming bill (pdf), clearing the way for floor debate Friday even though it remains uncertain if they will have the votes to pass it.

The House bill posted on the Rules Committee Web site has grown from the 946-page version adopted last month in the Energy and Commerce Committee. Sources on and off Capitol Hill said the bulk of the changes largely reflect requests from the eight other committees that also had jurisdiction over the bill, including the Ways and Means Committee and Science and Technology Committee.
View H.Res.554

Amending the Rules of the House of Representatives to require that legislation and conference reports be available on the Internet for 72 hours before consideration by the House, and for other purposes.

Introduced: June 16, 2009
Status: Introduced
Next step: Voted on by House
Latest action:
Sponsor: Rep. Brian Baird [D, WA-3]

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June 24, 2009

LSU Wins World Series

Congratulations to the Tigers


The chart below tabulates the performance of the two SEC teams (Arkansas and LSU) which made it to the NCAA College World Series. The SEC dominated the competition winning 70 percent of the games.

The ESPN announcers just about cried in announcing the SEC victory. They were so pulling for the Texas team.



One must note that two of the SEC losses came because the NCAA decided to pit LSU and Arkansas in the same side of the eight team tournament. That pairing forced the LSU to eliminate Arkansas.

The SEC teams' World Series record against other conferences was 5-1, a percentage of 83%. Texas advanced to the final three game series against LSU undefeated without facing an SEC opponent. LSU beat them 2-1.

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Cost of Health Care

Quantify the Real Impact of the Spending


Senator Edward Kennedy and his pals in the Democrat Congress are trying to pass "health care reform."

The "independent" Congressional Budget Office, which has a Democrat as its Chairman, estimates that the cost of the Obama Health Care Bill to be over a Trillion Dollars over ten years. Some say, once the Democrats finish adding all the bells and whistles, the cost will be 1.6 Trillion Dollars.

This post looks at ways to define a TRILLION.

Simply stated, a trillion is a million million. That number is so big it is pretty hard to fathom. Here are some illustrations.

The Time Approach: If a person were to count to a trillion beginning at the earliest age from speaking to a ripe old age of 95 years old, they would not make it all the way even by counting one number per second -- with no breaks, no sleep, no rest. In fact, a person would take 32,000 years to count to a Trillion.

Even Methuselah only lived to be 969.

The Distance Approach: If a spaceship could traveling at the speed of light it still takes two months to cover a trillion miles. If you took a trillion one-dollar bills and laid them end-to-end, they would reach from the Earth to the sun. Certainly, if given enough time, the Federal Reserve could print enough money for this project.

The Heavens Approach: Look into the sky on a clear country night. Lots of stars are smeared across the sky. If our naked eyes were strong enough, astrologers estimate that there are about 100 billion stars in the Milky Way? It would still require ten whole Milkey Way galaxies to build a star system a trillion stars.

The Democrat and NeoCon Republican Approach: For these big spenders, this approach involves ignoring the significance of spending trillions of dollars of our children's and grand children's money. Obscure the reality and claim we're saving by spending, or how about we just conceal the costs! Bury our heads in the sand and don't try to count the grains while its stuck down in the hole.

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June 23, 2009

Health Care Rationing: The Future



What It Will Do
  • It Undermines Parental Authority: Instead of empowering parents, President Obama's health care plan will chip away at the fundamental rights parents have in key health care decisions for their family by centralizing crucial health care decision-making over plans and benefits in Washington.


  • It Puts Federal Bureaucrats in Control of Health Care Decisions: The President's health agenda would result in a major transfer of regulatory authority over health insurance and the kinds of benefits and medical treatments that families get in their health coverage. This could also compromise the rights of families to secure the kind of health coverage that is compatible with their ethical, moral, or religious convictions.


  • It Shackles Families with Unknown Costs: President Obama promised American families that under his health plan the average family would save $2,500. But independent analysis shows that less than 11 percent of American families would actually see that level of savings with the reforms proposed by the Administration.

Heritage Foundation, Obama's Health Care Agenda: How it Will Hurt American Families.

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June 22, 2009

Federal Reserve Economic Policy

Deflation Grips the United States

The federal reserve bank has been printing money at an incredible rate. The money supply has doubled in the past year.

In college, we learned that when a nation rapidly increases the money supply that action puts inflationary pressure on the currency.

Why, then, hasn't the Dollar's inflated? The answer is the “deflation” pressure caused by a credit crunch.

Deflationary pressure in America is keeping the dollar from rapidly increasing in value. In fact, had the Federal Reserve not drastically increased the money supply over the past few months, the prices for goods and services would likely have dropped dramatically—deflation.

Why is America experiencing deflation when the money supply is increasing so dramatically?

The reason is a lack of credit. The possibility of even worse credit availability is on the horizon. Economic trends writer, Mike "Mish" Shedlock, explained in Mish's Global Economics Trend Analysis, Flow of Funds Report Offers Hard Evidence of Deflation.
Credit markets [collapsed] at the astonishing pace of $856.4 billion per year, their biggest cutback of all time (line 7).
A chart captured from the Federal Reserves Quarterly Report backs up the statement. Click on the chart to zoom it in a separate window.


Bottom line--America needs jobs. Unemployed folks need to get back to work. Unless folks are working again, more and more mortgages in America are at risk of failure. That would cause even greater stress on banks, putting the fear of disaster into them. That fear will further reduce the availability of credit in America.

Check out this really scary chart showing mortgage delinquencies through the fourth quarter of 2008.



The delinquency rate was just as bad in the first quarter of 2009.

So what is happening to American banks with mortgage delinquency rates increasing so rapidly? Why aren't banks failing as the foreclosure and delinquency rate is skyrocketing?

Up until now, the Federal Reserve has been bailing out selected banks and investment funds by allowing banking institutions to swap allegedly "AAA rated" mortgage backed securities for T-bills backed by the American tax payer.

In all likelihood, the AAA rating on those mortgage securities is bogus. We have no way of knowing, however, since Congress are not permitted to peer through the Federal Reserve shroud of secrecy.

The Fed is most probably acting as a super hedge fund for failing American mortgages. Eventually, however, should economic conditions make the mortgage delinquency trend continue significantly longer, bad mortgages packing the Federal Reserve balance sheet will cause the central bank to vastly inflate the Dollar to save itself. If that happens, financial chaos will follow and the tax-payer will be left holding the bag. The Fed is gambling that the American economy will turn around before they have to fish or cut bait. Let's pray they are right.

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June 21, 2009

Healthcare Reform Future?

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June 20, 2009


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June 19, 2009

Missile Defense: Thirty-Three Minutes Film



33 Minutes: Protecting America in the New Missile Age is a one-hour documentary about the threat foreign enemies pose to you, me, our children and grandchildren, and every other American. The truth in the film 33 Minutes is stark - no matter where on earth a missile launch occurs, it would take only 33 minutes or less for it to kill us and our progeny.

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June 18, 2009

Reality Check: SEC Verses ACC

Conference Matchup Records Even For 2008

I call this post a reality check. I have a very good reason for writing it.

Every year, Gamecocks around the globe tend to become over-enthusiastic during the pre-season. This, of course, just sets us up for disappointment.

Don't get me wrong. I'm an optimist. I would love nothing better than to see the 2009 Gamecocks win 10 or 11 games.

However, this optimistic tendency of our fanbase must be nurtured with a full realization of the obstacles that the opposition poses to our team. It is ok to expect victories and have hope for a great season. It is not ok to regard opponents—especially road opponents—as pushovers and weaklings. The problem with harboring an unrealisticly negative view of the opponent is that if there is a setback against one, one tends to give up much hope for the rest of the 2009 season.

That is my reason for publishing these reality check posts. We should appreciate the challenge our opponent presents. If the Gamecocks overcome it, that makes their victory all the sweeter and more impressive.

This first reality check post considers our SEC conference advantage against our first opponent, NC State, an upper-half ACC team, and puts it into perspective.

Last year, the Gamecocks and two other SEC teams opened the 2008 season by blowing out ACC opponents. That sets us up for unrealistic expectations with regard to the the first opponent in 2009. We expect that an SEC team (i.e., South Carolina) will easily beat the ACC opponent.

Reality check.

In last years home opener against NC State, the breaks went Carolina's way and the Gamecocks won by the lopsided score of 34-0.

That 34-0 slaughter tends to reinforce our fans' belief that SEC football, of which Carolina is a competitive part, is far superior to the brand of football played in the ACC. That opinion was demonstrated at the end of last year's football game when the Carolina crowd chanted . . . S - E - C . . . S - E - C . . . S - E - C . . . . It was fun.

A couple days later, much to our delight, Alabama went out and physically pummelled a pre-season, top-five Clemson, 34-10. Florida followed that by stomping Miami 26-3. People figured the SEC was dominant, particularly in matchups with what fans regarded as a relatively weak ACC.

This is what sets us up. The 2008 ACC was simply way better than they looked in the first three inter-conference matchups.

Reality check.

The reality is that in twelve 2008 inter-conference games, the SEC record against ACC teams was 6-6. After the initial three SEC victories, ACC teams beat six out of the next seven SEC teams.

I love charts. The chart below depicts graphically SEC net wins against the ACC throughout the 2008 season.



Notice that the ACC put the SEC into significant negative numbers for most of the latter half of the 2008 season. That should tell you that the ACC teams were a lot better than the initial impression.

Based on the scores in 2008, I still say the SEC is clearly the better conference. The net points for the interconference games tilted heavily in favor of the SEC. The table below shows the scores for all of the games.



Many of the games between SEC-ACC conference opponents were blowouts. The SEC blowouts were bigger. In the six games won by the SEC, the average score was 32 to 8, a 24 point victory margin. The ACC margin of victory in its six wins was 30-18, 12 points.

The chart below depicts graphically the SEC's 79-point advantage as the 2008 season progressed. The SEC got out to a big point lead in the first three games and the ACC never caught up.



The reality here is that the ACC dished it out pretty well against SEC teams in 2008.

If before reading this, some Gamecock fans expected NC State to be a bunch of pansies because they play football in the ACC, then this post constitutes your cold splash of reality. The ACC has some dang good teams that are very capable of beating an SEC team.

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June 17, 2009

Kevin Tuma Cartoon


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June 16, 2009

$20 Billion of Bailout Money to Bank of America

CEO Accused of Being Short on Memory and Integrity

On June 11, 2009, former Bank of America CEO, Ken Lewis, testified to congress. The subject was the catestrophic decision to aquire with Merrill Lynch. The Merrill Lynch balance sheet was riddled with poisonous mortgage backed securities.

Representative Dennis Kucinich (D-OH) catches Lewis lying and changing his testimony. Lewis did not suspect that Congress would acquire normally confidential attorney communications about Lewis' communications with the Federal Reserve Chairman.

Lawyers in the Federal Reserve disclosed Lewis asked government a letter (or a "writing" if you prefer Lewis' terminology) suggesting the Fed ordered Lewis to merge with Merrill Lynch. The Federal Reserve paid BOA $20 Billion to go through with the acquisition of Merrill.

Kucininch disclosed that Lewis' action constituted a betrayal of his trust with the bank's shareholders. Lewis wanted to obtain evidence (the writing) that he could use to defend justified shareholder lawsuits based on the flawed decision-making. Lewis was ethically bound to provide BOA shareholders full disclosure about the Merrill Lynch transaction before they voted to acquire the sinking business on his recommendation.



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June 15, 2009

Card Game: Cheaty Mages

A few weeks ago, my sons and I went to Chapel Hill for a Diplomacy Tournament.

Well . . . the boys didn't play Dip, but we all tried out some random board games while were up in North Carolina.

One of the games I played with Jackson (15) was a fun, quick game called Cheaty Mages. Cheaty Mages is a card game. The back of the box (depicted to the right) states as follows:
Skilled mages have arrived at a gambler's arena, all with the same goal: Winning the big jackpot. Dodging the judge's watchful eyes, the mages use their magic skills to lead the monster they bet on to victory... who will walk away with the largest pile of gold?
The Cheaty Mages game is published in Japan at the Kanai Factory by the Japon Brand company.

Cheaty Mages was really fun and intersting. The way it is played is that five "monsters" are dealt out face up. The players all have a hand of cards. The players secretly wager on the monsters, and then play cards to help or hurt the combatants. The game is similar to Titan: The Arena, if you have played that card game.

The more risk you take, the greater the reward in gold. Thus, if you bet on only one monster, and it wins, you hit a jackpot. On the other hand, if you bet on more than one, your reward decreases. If you spread the risk, you get less and less gold for picking the winning monster.

The game is not yet available in the USA. However, it is scheduled to be released here soon.

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June 14, 2009

Stop the EPA From Hijacking the Economy

Global Warming Fears Endager Our Lives


On April 17, the Environmental Protection Agency (EPA) issued an endangerment finding, saying that global warming poses a serious threat to public health and safety. Thus, almost anything that emits carbon dioxide and other greenhouse gases could be regulated under the Clean Air Act. This is the first official action taken by the federal government to regulate carbon dioxide.

I found an intersting link on the Heritage Foundation website. The link allows an easy format to submit comments. (Stop-the-EPA Link) The deadline for public comment submission is June 23, 2009. Here is the letter I composed based on the draft provided by Heritage.

City, State: Greenville, SC

Dear Administrator Jackson,

I am strongly opposed to Docket ID # EPA-HQ-OAR-2009-0171, the Proposed Endangerment Findings for carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride. They do not threaten the public health and welfare, and regulation of such gases would cause economic harm.

The proposed endangerment finding the EPA issued is the first step in the Agency’s proposal to regulate carbon dioxide through the Clean Air Act, a law never intended to do that. Because 85% of America’s energy production is from fossil fuels, any attempt to regulate, cap or tax CO2 emissions will increase the price of energy and constitute an invasive new energy tax on the American people and on American business.

This new tax will burden businesses and consumers for years to come. The planned global warming tax could shrink the American economy by nearly $7 trillion by the year 2029. Single-year losses exceed $600 billion in 2029, more than $5,000 per household. Even worse, energy costs would skyrocket 30 percent or more, and annual job losses would exceed 800,000 in several years in the near future. Hit particularly hard is manufacturing, which will see job losses in some industries that exceed 50 percent.

Despite the proposed economic harm, the EPA has failed to conduct an environmental impact study, including a costs benefit analysis of the proposed regulations. Obviously, there is a reason the agency is shirking its duty. It is because there is no discernable environmental benefit to the new regulations.

In fact, analysis by the architects of the endangerment finding, the EPA, strongly suggests that a 60 percent reduction in carbon-dioxide emissions by 2050 will reduce global temperature by 0.1 to 0.2 degrees Celsius by 2095. While putting in place costly regulations on the entire U.S. economy is always a bad idea, it’s especially nearsighted to do so in such difficult economic times.

Using the Clean Air Act to regulate carbon dioxide would likely be the most expensive and expansive environmental regulation in history and will bypass the legislative process completely. In other words, the action is unconstitutional and constitutes taxation without representation. Such action could lead to a justsified revolution against the Government, as advocated by Thomas Jefferson and demonstrated by our Founding Fathers.

Furthermore, although the Environmental Protection Agency claims the effects of carbon dioxide and other greenhouse gases are compelling and overwhelming, the scientific evidence suggests anything but that. The agency should not act prematurely to regulate something that is not a problem to begin with. Therefore, I respectfully ask that the Environmental Protection Agency not formalize the proposed aforementioned finding and furthermore, that the Department not involve itself in the regulation of carbon dioxide.

Sincerely,



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June 13, 2009

Dennis Kucinich Addresses Auto Bailout

Apparently the Obama Administration's Auto Task Force, and Treasury Secretary Tim Geithner, are planning to use TARP money for the reorganized GM to help build up auto jobs in China. The government has bailed out GM, and now even though we are a majority equity holder in the company, our government is selling out to foreign interests. I agree with Democrat Representative Dennis Kucinich. He takes strong issue with those ideas.

The videos have a lot of interesting back and forth related to the Auto Task Force and GM bailout deal being ram-rodded through the bankruptcy court.




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June 12, 2009

Video About Audit the Fed

I just joined the Break the Matrix site. Please join and begin targeting the Senators to co-sponsor S 604. S 604 is HR 1207 (Audit the Fed)'s companion bill. Senator Jim DeMint is the first cosponsor.


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IMF Bailout

DeMint Attempted Senate Amendment to Block IMF Loans, Save American Gold Reserves

In an earlier post today on this subject, I wondered why Senator Jim DeMint voted in favor of obligating the U.S.A. to make billions in loans to the IMF. GovTrack Since then, I located Senator DeMint's May 21, 2009, comments about the IMF Bailout Bill. It looks like Senator DeMint knew exactly what was in the War Appropriations Bill when he voting for it. Below are his remarks about it.
That is, in effect, what we are doing with the International Monetary Fund. Let me explain to my colleagues a lot of things I didn't know until I looked into this. The International Monetary Fund was set up to make loans to nations; to help nations that might need money to get through a financial crisis. Many nations are involved, but we give them $10 billion as a kind of deposit to the fund. Currently, the IMF has the authority to use that money continuously. But we also give them the right to draw another $55 billion from our Treasury at any time. In effect, the International Monetary Fund can appropriate $55 billion from the U.S. Treasury anytime it wants. They now have over $60 billion of our money that they can use all over the world.

We can debate whether that is a good thing, but what the President has asked for, and this bill provides, is an additional $100 billion credit line, in effect, to the International Monetary Fund, and it ups our deposit another $8 billion. We are going to take another $8 billion and put it in the International Monetary Fund to be used. But then we make appropriators out of the International Monetary Fund. We give them a permanent credit line of an additional $100 billion that they can appropriate anytime they want around the world.

There are a lot of good things we would like to do as a country, as a Congress. We would love to improve our education system. There are a lot of challenges in health care. We have talked about our roads and bridges decaying. There are so many good things we would like to do that we don't have the money for. How can we possibly tell an International Monetary Fund that they can take $100 billion anytime they want from the U.S. Treasury if there is an emergency somewhere in the world?

There will be emergencies in these times. The interesting issue we are not thinking about is we are going to have more and more crises here at home. We know California is heavily in debt--over $20 billion. They are talking about a financial collapse, as is New York and other States. But the size of California's debt is only one-fifth of what we are giving the International Monetary Fund.

I don't think we have added up all of this. I am very concerned we are not considering how much money we are talking about. Let's put $108 billion in context. I know some will come and say we are not spending that amount of money, we are just authorizing it, which means it can be appropriated anytime, but we are not spending it. In fact, they took the effort to get CBO to change the way it normally scores so this is not spending. They are saying the risk is only like $5 billion. But the International Monetary Fund can take $100 billion out of our Treasury anytime it wants.

With the world situation the way it is, I think we are being very naive to think it will not come out. We were told most of the TARP funds would not be used. We used most of the TARP funds.

But let's think about this $100 billion. That is more than we spend as a Federal government on transportation all year. The 2010 budget for transportation is $5 billion. It is more than we spend on education for a whole year--$94 billion in our country. It is more than we spend on veterans' benefits. It is a lot of money. But very often we are talking about our own services to our own people in this country for which we do not have enough money. We need to remember the International Monetary Fund, while it may serve in theory a good purpose, people on the board who decide how this money is used include countries that we say are terrorists, such as Iran. Do we think Iran is going to help the United States when we are in trouble?

Let's look at our current situation. Our current national debt as a country is $11.2 trillion--more than any other country in the world. We are the most indebted country in the whole world. Our per capita debt is $37,000. Every man, woman and child in this country owes $37,000, based on what we have already borrowed. But if you include Social Security and Medicare liabilities, our current expenditures will exceed tax revenues by $40 trillion over the next 75 years. Our debt is now 80 percent of our gross domestic product--80 percent of our total economy, which is the highest level since 1951.

The President's budget estimates that total debt relative to our total economy will rise 97 percent by 2010 and 100 percent thereafter. We are going to have debt that is larger than our total economy in the next year or two.

We currently owe $740 billion to the People's Republic of China and we owe $635 billion to Japan and $186 billion to the oil exporters. Keep in mind, if the IMF does access this $108 billion, we will have to borrow it in order for them to get it, and we will have to pay interest on that money. We will be told we will earn interest on any money that is borrowed, but we will likely pay even a higher interest rate in order to make that money available. When we do, we increase our debt even further.
GovTrack Site. Senator DeMint tried to amend the Senate Bill to remove IMF loan provisions. He also tried in the same amendment to stop the sell-off of American gold. The Amendment attempt failed, apparently with the supporting hand of northeastern, RINO Senate Republicans like Judd Gregg (R NH). GovTrack Vote on Amendment

Considering the concern evidenced by DeMint's Senate floor remarks, why in the world did Senator Jim DeMint still vote for the Bill? I understand that cutting off funding of overseas contingency operations while we have troops in the field is not wise. However, it seems to me that our Senators ought to take principled stands in cases like this.

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Democrat Congress Giving Billions to IMF

Democrat Congress Law Would Sell $12 Billion of American Gold Reserves


This blog posted a month ago in Mr. Obama's War that the Democrat Congress plans to spend billions more tax-payer dollars for America's ongoing, undeclared foreign wars. We simply cannot afford the cost.

The War Appropriations Bill is sailing along and will soon be passed as law. All of our local representatives, including Senator Jim DeMint have voted in favor of this law. In fact, it was the Senate where the IMF funding was added to the Bill. I want to know why Jim DeMint voted for a Bill with this poison pill included?

The Bill is now in the Democrat controlled conference committee where differences between the Senate Bill and the House Bill, linked below, are being ironed out. Once the Conference Committee finishes its work, the Bill will be submitted to President Obama. When he signs it--and he will--it will become law.

It is not just the billions that the potential law appropriates for the undeclared foreign wars, but the Bill is filled with give-a-ways to the International Monetary Fund. The Bill gives discretion to the Treasury Secretary, Tim Geithner, to dole out the money to the international agency.

Some summaries of the IMF provisions and the links to the current Bill are shown below. This could be worthy of making a call to your Senator.

This link shows the Bill's proposed payment of the United States “quota” in the amount of slightly less than $5 Billion.

This link shows where the Bill proposes a loan of $75 Billion to that international organization.

Here is a link where our elected representatives propose to further bankrupt our children by selling 12,965,649 onces of gold. Each ounce of gold sells for roughly $1,000 in today's market. That calculates to $12 Billion of American gold that is being sacrificed to the international globalists favored by the Obama Administration.

On June 4, 2009, Representative Eric Cantor (R VA) made these remarks on the House floor:
And, Mr. Speaker, I say to the gentleman that the belief on our side is the purpose of the war funding bills should be to provide our troops with the support they need, not this controversial global bailout money. Mr. Speaker, I would say more than that, what we believe is--currently from the reports is that the bill would eliminate $5 billion from the defense spending directly for our troops and provide that $5 billion credit towards the guarantee that the United States would have to provide to the IMF.

Mr. Speaker, even further, we understand that in this provision in the bill, in essence we would be providing for more money for foreign countries in terms of a global bailout than we would be for our own troops.

And the even more troubling part to many of us, Mr. Speaker, is the fact that the IMF program allows eligibility for countries like Iran, Venezuela, Zimbabwe, Burma and others. And that these countries, Mr. Speaker, are not necessarily in pursuit of policies that help the national security of this country. And given the fact that our President has said we don't have the money, how is it, Mr. Speaker--and I would ask the gentleman--does he think that we ought to be delaying the funding of our troops by including the provisions that we've just spoken of? And I yield.

. . . .

And is it appropriate in a war-spending bill for the taxpayers of this country to be guaranteeing $108 billion dollars to the IMF when we're only providing our troops $80-some billion? So that's more than we're providing our troops for a global bailout. And that is the first line of questioning, Mr. Speaker.

Secondly, does he expect to produce more than the 200 votes that the gentleman's side produced on the first go-round on this supplemental bill? Because if not, then he would need to have some support from this side of the aisle. And Mr. Speaker, I would say to the gentleman, the New York Times has pointed out May 27, Hezbollah, the Shiite militant group, has talked with the IMF and the European Union about continued financial support.

So is he aware that this money that we are affording the IMF to extend to countries who are in need would include countries where Hezbollah would have some impact on the disbursal of those funds.
GovTrack Site.

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June 11, 2009

Jon Voight Speech

The Jon Voight speech at the 2009 GOP Senate-House Dinner is getting attention. One of the more interesting aspects was his remarks about the shifting United States foreign policy away from support of our great ally, the nation of Israel.

I found the Voight speech on YouTube and embedded it below.

I may try to write some more about the shift of our nation's support away from Israel. Such a shift is troubling from a Biblical perspective, and really could imperil the United States.


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June 10, 2009

Socialist Movement Capitalizes on Cult of Personality

Potential Government Handouts Attract Supporters

Obama Administration is organizing a grass roots support group to help it implement socialistic policies. The organization is called Organizing for America. This Administrative orchestrated group is putting together a National Healthcare Day of Service rally on June 27. It would be shocking if ACORN groups are not well-represented in the potential crowds considering how much money the Democrat government is giving away to ACORN.

Blogger Dan Joseph, who writes at Falling Panda Blog, went undercover to learn about what happens at an Obama Healthcare Meetup meeting. You can link to the full post by clicking on the hyperlink in this paragraph.
Sandra and our other esteemed leader, explained to the group that the primary focus of the administration's efforts to sell the health care plan was going to be in emphasizing “personal stories”. So for the next few months expect a steady stream of sob stories about some guy named Raymond who has Lupus and has to subsist on cat food in order to pay his skyrocketing health care bills. The Obama administration knows that the majority of Americans will not be able to grasp the consequences of this complex plan and therefore, as liberals tend to do, they plan on playing on the emotions of the American people in order to sell the massive bureaucracy in which this plan will inevitably result.

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June 9, 2009

NCAA Baseball Championships 2009

The South Carolina Gamecocks, in a rebuilding year, failed to make the College World Series field. The Gamecocks did not even make it to the Super Regionals (sweet 16). However, they did make it to the tournament, and performed well in their regional.

The other SEC teams also performed well. Two Conference teams made the Series, LSU and Arkansas. Four SEC teams made it to the Super Regionals. The Conference proved itself to be one of the best baseball conferences in America. One could argue effectively from the data below, that the SEC remains the best.



Other conferences did not prove themselves in 2009. The Big Ten, for example, is as bad at baseball as at football. It is time that the NCAA stops giving the Big Ten slots in the tourny, when more deserving conferences ought to have a chance.

Conference USA teams proved extremely tough. The Gamecocks battled like crazy against one in the Greenville, NC, regional hosted by East Carolina. East Carolina, emerging from the losers bracket of that regional, won the deciding game in extra innings. However, its battle with the Gamecocks and other teams there was so tough, that East Carolina's pitching became depleted and it was swept out of the championship in two games by the current number one seed, UNC.

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June 8, 2009

GM Bankruptcy: Rule of Law Ignored

Bankruptcy Court Favors Unsecured Union Creditors


The federal bankruptcy laws provide for two main types of bankruptcies. First, you have Chapter 7 bankruptcy, a reference to the portion of the code. Those are liquidations. The idea behind Chapter 7 is that a debtors assets are sold and the proceeds are paid to the creditors. The debt will very substantially outweigh the assets. Thus, the creditors are paid a percentage of the debts.

Chapter 11 bankruptcies are restructuring bankruptcies. Under Chapter 11, many of a debtor's assets continue to be owned by the debtor during and after the bankruptcy process ends.

Chapter 11 bankruptcies are used for ongoing businesses. Many American companies have survived a Chapter 11 bankruptcy and continued as a business.

Under a Chapter 11 bankruptcy plan, for example, a automobile company would keep its lease and dealer contracts, employment contracts, and real estate properties for operating its ongoing business. The company would not have to sell those assets to satisfy creditors. The bankruptcy court would administer a "plan" to keep the company going, and theoretically, pay its debtors off. When the plan has been litigated by the creditors and interested parties, the Court would approve it and "discharge" the company from bankruptcy.

Under both types of bankruptcies, there is a hierarchy of creditors. Some have "priority" over other, lower tier creditors. That is because some creditors, before the company went into bankruptcy, loaned money based on promises of security or collateral for the loans. Think of a new car loan where the lender has the right to repossess the vehicle if payments are not continued . . . that is security. The car loan provider is a "secured creditor" because it has a security interest in the car. In theory, the secured creditor can provide a lower rate of interest to a borrower with collateral because there is less risk associated with a securted loan.

The lowest creditor of a bankruptcy debtor is the unsecured creditor. Under the bankruptcy laws, the unsecured creditor has no security and has issued riskier loans or made riskier agreements. The unsecured creditor trades the greater risk by demanding better interest rates or more favorable contract terms. If the borrower later goes bankrupt, however, the unsecured creditor has the lowest priority. They take greater risk, but obtain greater reward if they gamble correctly.

That is the federal bankruptcy law.

However, there now appears to be a political element that has been injected into the bankruptcy process for the federal automobile industry bailouts. The secured creditors, are highly disfavored by the Obama Administration. This is greatly to the benefit of unsecured Union creditors, are gaining priority status.

It is quite interesting that the 2d Circuit Court of Appeals upheld the sale of Chrysler assets which will do irrepairable harm to the interests of secured creditors. The bankruptcy court and the Second Circuit fear that if the plan for sale of Chrysler to an investor is not approved, the company will lose millions more. The rights of the secured creditors have lost their rights because of the fear of losing the tenuous "deal" brokered by the Obama Administration.

The secured creditors are seeking emergency stay from Justice Ruth Vader Ginsburg of the United States Supreme Court, an unlikely ally in their petition.

If secured creditors are dismissed for political reorganizations, it will make all types of secured loans more risky to lenders. That could make it more difficult for American automobile companies to obtain loans--even loans secured by assets. The banks and other capitalists are going to face greater risk if their priority as secured creditors can be destroyed by political winds.

Check out this video where a FOX news panel discusses this historical change in United States hankruptcy policy. In this instance, it appears that the rule of law is gone. Like the tax-payer, it was sacrificed on the alter of fear.



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June 7, 2009

Bible Study: Galatians and James

Bridgepointe Church Bible Study

If you are looking for an opportunity for an interesting Bible study, perhaps you should join our group at Bridgepointe Church in Taylors. Click on the link for a map and directions. We start our meetings at 10:00 a.m. on Sunday morning.

Our Bible Study group at Bridgepoint Church is beginning a study of the New Testament Books, Galatians and James.

The Lifeway Explore the Bible quarterly we are using to study these Bible Books describes them as “two sides of the same coin.” This allegory references the seeming contrasts between the two Books.

In Galatians, written by Paul in circa 49 AD, the Apostle writes to believers to warn against turning to “different gospel.” Galatians 1:6. The early Galatians church was under attack by false teachings. Paul taught in Galatians that man's salvation comes through grace alone, a sincere faith in Jesus Christ.
For by grace you are saved through faith, and this is not from yourselves; it is God's gift—not from works, so that no one can boast.
Ephesians 2:8-9.

James, on the other hand, teaches that faith without works is dead.
If a brother or sister is without clothes and lacks daily food, and one of you says to them, “Go in peace, keep warm, and eat well,” but you don't give them what the body needs, what good is it? In the same way faith, if it doesn't have works, is dead by itself.
James 2:15-17.

Thus, Paul teaches one's salvation comes through faith alone. James suggests works are an integral aspect of a saving faith.

Over the next three months of time we will study the scriptures in these Books and see if these two apparently contrasting messages in the Bible can be harmonized by clear understanding of truth. I predict that in the end, we will see how the messages are indeed two sides of the same coin.

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June 6, 2009

Political Cartoon




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June 5, 2009

Interesting 911 Conspiracy Theory Video

Architect-Engineer Richard Gage Postulates "Controlled Demolition"



Richard Gage, member of Architects and Engineers for 9/11 Truth, is interviewed on KMPH Fox 26 in Fresno, California, about the events of September 11, 2001. He has been an architect for over twenty years, and is experienced in steel structures. He, as well as 700 other architects and engineers, calls for a more thorough investigation into the collapses of the World Trade Center Buildings.

Topics discussed:

Proof of thermite and nano-thermite (explosives) found in WTC dust.
All three of the World Trade Center Buildings were brought down by controlled demolition.

Building 7s collapse at freefall speed into its own footprint.
Fires had never brought down a steel structure before 9/11, and have never brought down one since.

Several tons of molten iron at the base of the buildings.

Al Qaeda was not responsible for the collapses.

Much more! Watch and spread this video!

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June 3, 2009

PTT's Weight Loss Battle

Wii Fit Relegated to Data Collection Dump


This is my monthly post on my ongoing weight loss battle. The Wii Fit has helped kick start my battle for 2009. You may review my progress last month using the Wii Fit by clicking on my post last month.

The Wii Fit program tends to get a bit old pretty quickly. I have pretty much abandoned it for a fairly regular running program. I jog a couple miles three or four times a week now. However, if the weather is bad, I may execute the Wii Fit "strength" protocol. The strength exercises are effective. They have helped improve my core muscle strength and balance. It is just that the Wii Fit program just gets boring.

Without further ado, here are the charts of my current progress. First, here is a chart showing my May weight loss progress:




The weight loss in May was not terribly impressive. The end of the month has been filled with dramatic up and down swings in my weight. I'm not sure why that is happening to me. Probably my eating habits.

However, if you look at my three month period graph, the trend looks a bit better. Here is the three month chart.



The coolest aspect of the Wii Fit is the data compilation and charting capability for tracking your weight.

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June 2, 2009

Voter Intimidation in Philadelphia

What's Up With This?

The Bush Administration Justice Department filed a civil rights case against the Black Panthers and the men. However, the Obama Justice Department dropped the case.

The Washington Times is reporting, "Justice Department political appointees overruled career lawyers and ended a civil complaint."

The career Justice lawyers were on the verge of securing sanctions against the men earlier this month when their superiors ordered them to reverse course, according to interviews and documents.



Before the case was dismissed, the career Justice lawyers obtained an affidavit from an important witness. Bartle Bull, a 1960s civil rights veteran who served in Mississippi, provided an affidavit in support of the now-dismissed government case. The sworn statement stated, in part, as follows:

I watched the shorter man with the weapon point it at individuals and slap it in his hand.

I watched the two uniformed men confront voters, and attempt to intimidate voters. They were positioned in a location that forced every voter to pass in close proximity to them. The weapon was openly displayed and brandished in plain sight of voters.

Their clear purpose and intent was to intimidate voters with whom they did not agree. . . . I heard the shorter man make a statement directed toward the white poll observers that “you are about to be ruled by the black man, cracker.”







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June 1, 2009

The Inverse Correlation Between Love and Sin

Effect of Pervasive Lawlessness in Society

Spanish philosopher George Santayana (1863-1952), said in The Life of Reason (5 volumes, 1905-06):
Those who cannot remember the past are condemned to repeat it.
Our Bible study group has been studying the prophesies of Micah. This week we finished up the study by looking at the condition of the last days of the nation of Judah. The southern kingdom of Judah was destroyed by the Babylonians in 587 BC, and the people were carried away into exile. The prophet Micah lived in those last days before the exile and this is what he said.
How sad for me!
For I am like one who—
when the summer fruit has been gathered
after the gleaning of the grape harvest —
[finds] no grape cluster to eat,
no early fig, which I crave.

Godly people have vanished from the land;
there is no one upright among the people.
All of them wait in ambush to shed blood;
they hunt each other with a net.

Both hands are good at accomplishing evil:
the official and the judge demand a bribe;
when the powerful man communicates his evil desire,
they plot it together.

The best of them is like a brier;
the most upright is worse than a hedge of thorns.
The day of your watchmen,
[the day of] your punishment, is coming;
at this time their panic is here.

Do not rely on a friend;
don't trust in a close companion.
Seal your mouth
from the woman who lies in your arms.

For a son considers his father a fool,
a daughter opposes her mother,
and a daughter-in-law is against her mother in law;
a person's enemies are the people in his own home.
Micah 7:1-6.

This is a picture of a civilization that abandoned the pathway of God. The people “wait in ambush to shed blood; they hunt each other with a net.” In other words, the command of God to the Hebrews that they, “love one another as you love yourself,” Leviticus 19:18, was forgotten. Instead, the people sought ways to exploit their fellow citizens at every opportunity. There was corruption throughout the Hebrew society.

The circumstances of 700 BC Judah bear similarities to the present in America. Certainly, there seems to be a proliferation of opportunists ready to exploit others for profit—the derivative mortgage market and oil futures trading are two examples. The wealthy seek greater wealth without regard to the dire consequences on our economy or to fellow Americans.

The spiritual dimension of such lawlessness is worth considering.

God the creator made the physical world, yes. He also created its intangible qualities like beauty, love, loyalty and courage.

As society deteriorates into a condition of lawless or selfish behavior, the blessing of love evaporates. Sin is like a nasty pollutant spoiling the lovely landscape of life. It affects the entire community. The Bible and the Lord Jesus teach that prevalent sin correlates directly to a loss of love.
Because lawlessness will multiply, the love of many will grow cold.
Matthew 24:12.

Micah described a lawless condition in the southern Kingdom of Judah. The selfish pursuits were so widespread the Prophet could find nary a person who was a God follower. In Micah's times even the binding love between family members was lost. Enemies were everywhere . . . even the homes.

Is America heading toward that same destitute scenario?

As an optimist, one hopes it is not too late for America yet. Certainly, God can heal our land. However, the prospect of experiencing the healing will depend on our willingness to turn away from selfish pursuits and toward God. In other words, a lot depends on whether we as a group are willing to humble ourselves and accept God's guidance.

Fortunately, the Prophet Micah acknowledged that even when society will not repent—a condition that made Micah exceedingly sad—there was hope. The hope for Micah saw came through God's Covenant promises to Abraham.
Who is a God like You,
removing iniquity and passing over rebellion
for the remnant of His inheritance?
He does not hold on to His anger forever,
because He delights in faithful love.

He will again have compassion on us;
He will vanquish our iniquities.
You will cast all our sins
into the depths of the sea.

You will show loyalty to Jacob
and faithful love to Abraham,
as You swore to our fathers
from days long ago.
Micah 7:17-20. Our hope is also based on a firm trust in God's Covenant.

When we fail to remember God, then we in America will be condemned to repeat the circumstances of Judah.


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