A Must Read

I am currently reading this book, and absolutely must recommend it to anyone and everyone who has any interest in America's changing role in the global political environment.  The title is "America and the World: Conversations on the Future of American Foreign Policy".  The book is in interview and discussion format, questions are posed by the renowned journalist David Ignatious.  The two men he is interviewing are Zbigniew Brzezinski and Brent Scowcroft.  Zbig Brzezinski is the former National Security Advisor to President Jimmy Carter, and had extensive experience and influence during the Cold War era.  Scorcroft served as National Security Advisor to President Gerald Ford and President George H.W. Bush.  These men are two of the brightest and most experienced political minds in the United States.  Their extensive political positions and experience allow them to share key insights into global politics, and the United States' role in the Cold War, Afghanistan, Iraq, China, Japan, etc.  This truly is a must read for every American, you can learn a lot about our country's political position in the world today.

Purchase book here

Have we weathered the storm?

Stocks soared and markets rallied today on news from the Treasury regarding their toxic asset relief plan.  Although we are awaiting details, the news of the plan was more then enough to sending the Dow surging nearly 500 points, which is the largest gain since October 2008!  Well, it is extremely encouraging and relieving to see that the markets are responding in a positive manner.  Maybe Tim Geithner and Barack Obama are finally comprehending the correlation between their attitude/statements to the financial markets/investor confidence.  Banks especially had a solid performing day, including a 20% increase in Citigroup and a 26% increase in Bank of America stock. 

Now, what does this all mean?  The essential question that we need to ask ourselves, and our economists, is have we seen the worst of this mess?  Are we at a turning point as far as the recession is concerned?  Well, in my opinion yes and no.  I think we have seen the worst of things, regarding financial markets and the economic downturn.  Do I think we are recession free? No.  We have to be very careful of the road ahead, we could eventually see a stagnant economy leading to elevated risk of inflation.  However, I do believe that investor confidence is being restored, and as long as we are able to clean up the bank balance sheets, then we should be in good shape.  That is the main purpose of this TARP initiative produced by the U.S. Treasury.  It will offer incentives for private investors to purchase up to $1 trillion in bank's troubled assets.  This is extremely essential for economic growth for a couple of reasons.  Once the banks are able to clean up their balance sheets, and rid themselves of these toxic assets (which they are having trouble pricing), then credit lines should free up.  With the banks possessing stronger balance sheets, they will be able to loan more through credit as opposed to trying to remain as liquid as possible.  The other thing that will certainly help is the purchasing of foreclosed properties.  The worst thing for a bank's balance sheet, besides the so called toxic asset, is a foreclosed home.  They are desperate to get them off their hand, and so I believe with a little government incentive (i.e. a $15,000 tax credit), a very low mortgage rate of around 4%, and an excellent bargain, foreclosed properties should start selling soon.

Lets jump to the political arena for a bit.  President Obama has been under heavy criticism as of late regarding his demeanor and overall attitude in the past few weeks.  You know, I often hear two views, either Obama is too gloom and negative or he is overly joyous and smiling too much.  I think that is a bit ridiculous.  But I will tell you what I have a problem with.  I have a problem with our President showing up on the tonight show with Jay Leno, and then proceeding to imply his bowling score of 129 is "special olympics worthy".  You know what's ironic about this?  The there is a group trying to eliminate the word "retard" by the end of March, and here you have the President of the United States suggesting his bowling capabilities are comparable to that of a special needs participant in the special olympics.  To me, his smiles and jokes are a sign of arrogance.  Here we are in the most serious fiscal calamity since the Great Depression, and Mr. Obama is touring Los Angeles and appearing on late night talk shows?  Mr. Obama, you are a government employee, you recieve your pay and mandate from the masses, and in-turn you should be spending every single minute of your working day trying to solve this country's economic problems.  Not shooting the you know what with Jay Leno.

The real issue for me is I just don't trust the guy.  I'm sorry, I just do not believe a word coming out of his mouth.  And although I am willing to give him a shot before I judge him and his policies, I refuse to refrain from being critical of policies and things I do not agree with.  Every time I see him on TV or listen to him speak it is a flashback to mid 2008 during the campaign trail.  And I don't think I'm the only one, one poll has 14% of independents changing their opinion regarding agreeing with Barack Obama's policies.  Well, unfortunately time will tell whether he is the right guy for the job.  For now, its a reality we must face.  I still wish he would debate Bill O'Reily or Sean Hannity, it would be amazing. 

AIG: American International Gangstas

If you have watched TV in the last 6 months, I'm sure you have heard about the debacle going on at AIG. AIG (American International Group) is one of the largest American based insurance companies around. Back in September, when the recession really started hitting home, AIG was one of the first to ask for government bailout funds. Their credit rating was downgraded, and in turn AIG faced a large liquidity crisis because this downgraded rating forced them to put up collateral with their trading counter-parties. So what did the government do? They gave AIG $85 billion fearing that the collapse of this enormous corporation would negatively effect investor confidence and deepen the recession we were entering. The government in turn took an equity stake in AIG, and in reality the U.S. tax-payers became the shareholders...woopdedoo.

In October 2008, AIG received another $37.8 billion in aid money. The company had over $13 billion in losses from January-June 2008, and their stock had dropped from $70 down to a measly $1.25. Then in November, another $40 billion worth of equity was purchased in AIG by the government. Needless to say, this pumping in of cash was just a means of stalling the inevitable. Point of the story is, AIG received over $150 billion in "bailout money", and what are they spending it on you ask? Well it seems the priority for AIG executives is to pay out $165 million in bonuses for themselves. Yes, you heard right, AIG executives will be receiving millions of dollars in bonus.

See, I thought one receives a bonus in turn for doing something good, or performing well over the course of the year. If this was the case, how in God's name are AIG executives deserving of bonuses. It is absolutely enraging to have to hear about this kind of situation. Here we have this corporate giant begging for money in order to run day-to-day operations (or so we thought), and they go off spending our (tax-payer) money in the form of bonuses? Its sickening. And I am glad to see Obama and his administration attempt to block this from happening. I think the New York District Attorneys office, in coordinated efforts with the U.S. Attorney Generals office, should prosecute any of these executives who received the money as well as the genius' behind the whole plan.

We have pumped billions into this company, and it seems that the end is near. AIG continues to post losses, pay off bonuses and high salaries, and then turn around and ask for more. I think we need to let the cycle of free market capitalism take effect, and next time these bastards ask for more money we should give them a bag of coal. I hope some regulation takes effect on this matter, and the people responsible are suitably punished.

Bernard Madoff: The worst human in history

Yes, worse then Castro, worse then Hitler (maybe tied), even worse then Judas Iscariot himself. For those of you fortunate enough not to know who Bernie is, let me give you a quick explanation.  He was a very wealthy private wealth manager, who only took on select clients.  He ran the largest ponzi scheme in U.S. history, stealing over $65 billion. Absolutely bizarre.  That's not even the best part, the Madoff company was audited and checked on by the SEC over a twenty year period, and yet they never found out about the scheme.  But in all seriousness, this is such a sad story, people lost retirement money, college funds, life savings, etc.  Even the actor Kevin Bacon lost a chunk of cash because of Madoff.  I saw an interview today with a 50-60 year old couple who had invested their life savings with Madoff. They wanted to accumulate money in order to pay for their grand-children's college tuition. They lost everything. Now they both have to work 9-5 jobs just to make ends meet.  

Madoff ran the "company" with his wife, brother, and two sons (who were in charge of compliance, ha).  After his arrest, Madoff's wife claimed the $70 million in her account was her earned money.  You know what? I think you should look up this entire crooked family, a) for being cheats and b) for being morons.  The woman hasn't worked a day in her life, and now she suddenly has $70 million? Good one.  The 7o year old Madoff has pled guilty to 11 felony counts (except conspiracy), and is facing 150 years in prison.  He pretty much knows that his life is over, but he is trying to secure the future of his family.  Fat chance.  

Bernie has bigger problems then his double life sentence.  It is believed that he is involved with the mafia (some claim the Russian mob).  And I think we all know the mafia likes to collect their money, one way or another.  Sometimes they go for you, and sometimes they target your family, who knows?  Mr. Madoff, I would wish you good luck, but you don't deserve it.  The last person on Earth that I would want to be at this point in time is Bernard "Bernie" Madoff.  

Secretary Timothy Geithner

This is an awesome video, gives us a chance to relax a little bit and laugh at the current situation we are in, albeit it is at the expense of the secretary of treasury, haha.

Government funded embryonic madness...

President Obama has over-turned a Bush bill which will now allow government funding to be directed to embryo based stem cell research.  Well, I have a couple of things to say about this.  I personally think we just opened a Pandora's box of moral calamity.  How in God's good name are you going to be able to regulate what scientists do with public funded embryo research? Have past results warranted this dramatic change in policy.  I saw nothing wrong with the bill passed from the previous administration, which have public funding to adult stem cell research, the point of this was to avoid the moral issues involved with killing embryos for their stem cells (which is a very viable reality).  Under Bush, stem cell research was increased dramatically, and all kinds of stem cell research were allowed under privatization, but embryonic based research was not funded by the government.  Don't get me wrong, I am all in favor of stem cell research, I think it has wonderful benefits to correct genetic malfunctions and cure diseases that effect a lot of people (a lot of people I know and care about).  But I am not willing to sacrifice my morals and values in the name of research, in the name of science, and in the name of Barack Obama wanting to keep top scientists in the U.S.   Mr. Obama said that we needed to make this crucial change in the name of science, and in order to keep our top scientists from leaving the country because of the lack of public funding for research.  How funny.  Because, I recall certain top doctors leaving certain countries (France, Spain, Canada, etc) because of nationalized health care.  Quite an interesting double standard that the President and his administration seem to hold.

You know what? I'm actually pretty pissed off.  The most powerful man in the world, not the country, the world does not know how to prioritize and organize himself.  In case Mr. Obama forgot, we are deepening in a global recession that has yet to bottom out and whose outlook is grim at best.  But, here we are signing bills about abortion funding, embryo research funding, nationalized health care, and renewable energy (this one just blows my mind).  Is it just me? Does no one else seem to get agitated when we are having a global economic meltdown, in which people are losing homes, jobs, retirement funds, pensions, etc...and here we are talking about renewable energy and abortion funding.  Michelle Obama once said, "I have never been so proud to be an American".  Well, let me say this, it is a little more difficult to hold my head up these days, especially after seeing how our country's elites have been running things.  Even legendary investment guru, Warren Buffet (an Obama supporter), is skeptical, and suggested in an interview this morning that Barack Obama is trying to do too much at once.

Anyways, enough of that, its just upsetting to think that only a few months ago during all of those presidential elections, the economy was the hot topic.  And now, all I am hearing is "don't worry", "we inherited this problem", "everything will be fine"...Umm, well I AM worried, and I don't care if you inherited this problem, I inherited it too and I have to deal with it, and NO everything is not going to be peachy.  In other news, market was down today (surprise, surprise) and we were ever so close to engaging in wars with the Chinese and the North Koreans.  I spoke about the Koreans in my previous post, but apparently we came dangerously close to engaging Chinese ships due to their aggression and breaching of International Waters Law.  It is a really scary thought, to think we came that close to a global mess.  That would be just what we need on our plate, another conflict with another nation.  Anyways, I hope it can be avoided at all costs, and I think that a Chinese ambassador or diplomat of some sort is scheduled to meet with U.S. officials in Washington D.C. tomorrow, so we will see how that goes.  

Stay tuned, everyday is just full of headlines.  

North Korean lays down the law

North Korea has ordered their troops to be combat ready and on standby.  The country has announced a satellite launch, and has made it very clear that any interference with that launch will be viewed as an act of war.  This is very concerning.  These launches could actually be missile tests and not satellite launches.  Japanese and U.S. officials have suggested that they could and potentially would shoot down any North Korean missiles.  Also, South Korean and U.S. troops have launched annual war games, which trains and prepares soldiers for combat. The North Koreans have taken it as an advanced aggressive sign, and between this and the threat of their missiles being shot down they have issued a statement.  

"If the enemies recklessly opt for intercepting our satellite, our revolutionary armed forces will launch without hesitation a just retaliatory strike operation not only against all the interceptor means involved but against the strongholds...Shooting our satellite for peaceful purposes will precisely mean a war"

This is potentially a very real and scary situation.  North Korea not only has anti-American sentiments, but also believed to have nuclear weapons.  Could we see another Korean War? I hope not, because this one would be a lot deadlier then the last.  That means South Korea, Japan, the United States, and their allies would get involved along with China and Russia. North Korea has one of the largest and most powerful armies in the world, with over 1.2 million soldiers.  Analysts say that this could be a ploy in order to test the Obama administration, since they are in the midst of defining what their relation ship will be with the North Koreans.  I personally would take this as a very serious and viable threat, and would have to go about it in a very diplomatic way.  The problem is Kim-Jong-il is not the most friendly ruler, and who knows what this Napoleonic-like man is capable of doing.  Hopefully this situation is handled in the correct manner, we will just have to wait and see.

I also wanted to make a quick little note since I just read it, the Japanese Nikkei 225 exchange just reached 26 year lows amidst fears of the global economy.  Analysts are also discussing an unbelievable situation, the dow reaching 5000 and the s&p reaching 500 levels.  This is a complete bearish dream, and a bull nightmare.  I don't think we are going to see those levels, because if we do, I don't think there is any coming back from them.  Tomorrows trading day will be an interesting one, there isn't any indication that things have been changing or that we have hit a turnaround.  Unfortunately I think we are riding a steep slump, and I just can't tell you when its going to be over.  Its like being on the roller coaster from hell and not knowing when the ride is over.  Just remember, cash is king, as long as you remember that you should make it out just fine.

Webster Tarpley on Barack Obama

This video is only an opinion, and could be considered conspiracy, however it is interesting to hear some different points of view. Check it out, and let me know your thoughts

The collapse of the financial sector

Another interesting yet disappointing day of trading on Wall Street.  The dow dropped another 281 points, and has reached an unbelievable low level of 6594.  It seems like yesterday that we were seeing levels of 1400 and 1500.  Financials and nearly all sectors of the market got hit hard today mainly because of Citgroup's seemingly imminent demise.  Bullish investors are working hard to keep Citigroup's stock price above the $1 mark, even though it broke that threshold earlier during the trading day.  Investors are fearing the worst, the failing of our financial markets.  I mean, who can blame them.  You have two of the largest companies in the United States  (even the world) nearing their end.  And here we have Geithner and the rest promising that banks will continue to get funds in order to avoid failure.  Take my word for it, 50 years from now people will be studying this crisis and learn about the "AIG Mistake".  You know, the one where the government took tax-payer money and pumped it uselessly into AIG, who in turn spent it out on bonuses, office decoration, and corporate getaways.  Instead of giving those corporate dogs more money, why don't you give $200 billion back to the people.  Let them pay-off debts, house payments, invest, create some wealth...maybe that would be a better "stimulus plan", if only I was born in the U.S., it would be the "Tailo 2028 campaign".

Tomorrow should be an extremely interesting trading day.  National unemployment numbers are set to be released, and they are not going to look very pretty.  I think the national rate is around 9-10%...which is just silly.  So market could react in two way, A) it could cause a substantial increase in markets because of panic or B) it could just be another devastating blow due to lack of confidence.  We have either neared the bottom and can expect the bulls to defeat the sell off bears, or we can look forward to another devastating slide in the economy.  Tune in tomorrow and find out.  As for me, I think I may buy some stock/contracts on the S&P tonight and see how it plays tomorrow morning.

I read a very interesting article today.  I often fear that President Obama is one of the most inspiring and public speaking politicians this country has ever seen.  I can't say that I don't agree.  However, did you know that Obama uses a tele-prompter more than any president in American history.  Lets be realistic, presidents have been using a tele-prompter for the last half century, but usually only for very large speeches like the state of the union address, or when they have to address congress, etc.  But Obama has taken it to a new level.  He uses tele-prompters for nearly everyone of his public addresses (they are just hidden out of camera view), and also he has been coached by some of his staff through several news conferences.  Now, you may look at this and say, "whatever, its not a big deal".  But I think the American people are long-due some honesty and truth, especially in times like this.  Media question sessions are not meant for cue cards and notes from your staff on how to answer questions.  Just my opinion though.

I want to talk about something that is driving me absolutely crazy.  Why is the democratic party so interested in bringing bad publicity to Rush Limbaugh?  Why is this man constantly misquoted and misrepresented.  His speeches and words are taken completely out of context.  I don't agree with a lot of what he says, and I think he is a very conservative Republican, but I don't doubt the mans love for this country or his talent.  You show me another political radio hot who has over 20 million listeners and I'll shut up.  There has been recent controversy surrounding Limaugh because of comments he made suggesting he wanted Obama's policies to fail.  I think he was saying he was wants the policies to fail because he believes that these policies will hurt our country in the long run.  He is entitled to his opinion, and if you don't like it then don't listen to his show.  But here you have some liberal politicians who are criticizing Limbaugh and the GOP for having him as their spokesman, etc, etc.  Either they are intimidated or they are taking attention away from the failing policies and errors of this administration.  I have noticed a trend recently.  When backed into a corner, the democratic party has started attacking republicans and conservatives.  Since there is no Gingrich, Bush, or Cheney anymore, who do they go after...Limbaugh.  

Lastly, I just read about the details of Chris Brown's alleged attack on Rihanna.  Man.  So disappointed in him, it was such a brutal attack.  And it all started because she saw a text message on his phone from another girl.  Guys, do yourselves a favor, put a pass-code on your phone.  Brown is facing two felony charges (threats to do bodily harm and assault).  I just hope Chris "Pretty Boy" Brown can avoid jail time, for his sake...if you catch my drift.  

Dow's down again, jobs "created", rescue efforts have ceased.

The Dow was quite volatile today during trading hours.  Although I follow the S&P more carefully then the DJI, the Dow definitely impacts the other averages and the general movement of the market.  A lot of people don't actually know what the Dow and S&P are, so let me quickly explain what they are.  The Dow Jones Industrial Average is an average computed based on the stock prices of 30 of the largest and mostly widely held companies in the U.S.  It was created in 1896 by Charles Dow, and the "industrial" portion is more historical then it is reflective of the type of companies in the Dow 30.  Some of the companies include: Coca-Cola, General Electric, Bank of America, Citigroup, IBM, JP Morgan & Chase, Walmart, etc.  The DJIA gives us a solid and conceptual understanding of the market's movements, because it includes financial, consumer, retail, banking, and pharmaceutical stocks.  The S&P 500 (Standard & Poor's 500) is a value weighted average of 500 large cap (overall market valuation of more than $5 billion is the general rule) common stocks traded in the U.S.  The S&P is also generally viewed as a significant indicator and benchmark in relation to overall market movement and performance.  I hope that helps, but I really must talk about something else that is just eating at me.

Does anyone else ever get sick of leftist media and right wing media outlets (cough, CNN and fox news)?  Because I do.  Quite often actually.  Every time I go to CNN.com all I see is liberal propaganda aimed at persevering and advancing the democratic agenda.  Same with FOX.  A lot of criticism and conservative babble.  Example.  The main page of CNN.com's politics page is "'Shovel's hit the ground' on stimulus project, Obama Says".  This was in reference to the 60 jobs created recently because the a piece of the infrastructure portion of the $787 billion stimulus bill has been used for Maryland Highway renovations.  Look, 60 jobs is a start, its definitely not headline news.  Because millions and millions of jobs have been lost, and several hundred thousand of those were in the last two months.  I wouldn't poor the champagne and light the cigar quite yet.  But I would be very interested to find out how much of that $787 billion was used to create those 60 jobs.  I feel that is essential in making projections and analyzing the situation further.  

Personally, if I was going to create jobs, I would've gone a different route.  I think tax cuts for small businesses (which employ the majority of the country) and money put back into the people's hands may have been the best option.  How about decreasing capital gain tax?  Maybe even making it zero for a year or two?  I mean it couldn't hurt to try these policies, along with a smaller spending/stimulus bill.  But I mean $780 billion bill, $410 billion bill, and a $3.6 trillion spending budget??? And all of this is somehow going to cut the national deficit in half by the end of 2013?  Call me a skeptic, call me pessimistic, I just don't think you can call me stupid.  

Which brings me to my next point.  Timothy Geithner.  He defended the $3.6 trillion spending budget today, citing the fact that the Obama administration has inherited the worst fiscal situation in American history.  Obviously Timothy failed 3rd grade history class, because there was something called the Great Depression, you know 25% unemployment.  Also, I am sick and tired of hearing about Obama inheriting this and that from Bush or Paulson.  Look, the economy tanking is not a new development, some knew about this back in 2007, and the rest of us fully realized the mammoth proportions of this crisis in the summer of 2008.  So if President Obama didn't want to "inherit" this mess, he shouldn't have put his hand on the Lincoln Bible and repeated the blotched oath.  It is extremely frustrating to have to listen to this nonsense day in and day out.  OKAY, we get it, you came into office during troubled times.  The reason you are in office is because you promised change and solutions for these problems.  So, Geithner, Mr. President, and all other cabinet members, please quit the political crap and do your jobs.  

I, for one, do not think that money poured into education, alternative energy sources, and universal health care is going to solve this economic recession.  I don't really know if anything we do as of now can fix it.  It might just be a part of the viscous cycle of free market capitalism that we have to accept.  I think education and alternative energy research are crucial for our future, (you all know my view on social health care), however, they should not be the center point of our plan to combat this economic calamity.  What we need to do is start fixing the foreclosure problem, so that Americans can have home security, create jobs, cut taxes instead of spend our way out of this mess, and lastly I think we absolutely must start valuing troubled assets on banks balance sheets.  The problem is that these banks are stuck with troubled assets on their balance sheets that are not being properly valued, therefore they cannot sell them.  We need to figure out pricing, sell them or put them in a "bad" bank, and free up some credit.  These things are considered stimulus.  Not rebuilding highways and roads in Maryland.  Or giving more scholarships.  I mean these are good things, don't get me wrong.  But, barley any jobs are being created.  

Maybe I'm being selfish.  But I want to know how $787 billion is going to help me and my fellow 2008/2009 college graduates and young generation looking for careers, house investments, a car, etc.  How can you help me President Obama?

Lastly, I would like to extend my prayers and thoughts for those three men and their families who are still lost at sea off the coast of Florida.  Terrible story, and it seems that coast guard rescue teams have called it quits after covering 24,000 square miles.  I think its fair to call of the search.  These guys have been missing for a few days now, and there is a very very slim chance they would've survived in the frigid waters, without life vests, and 13 foot waves everywhere.  It's a sad story.  

Have a good one ya'll and try and stay dry tonight.

Just another manic monday...

A lot of news today, and if I could, I could talk about everything that happened this weekend and today for pages and pages.  But I won't.  Firstly, because it would take too long and secondly because I don't want to depress the hell out of you.  I mean we've got missing NFL players off the Florida Coast, a 300 point drop in the Dow, AIG asking for more money, and (this one's crazy) an 840 pound emerald found in Brazil worth $400 million.  Okay, I'm going to take a deep breath...and go:

1) President Barack Obama has made yet another bad decision.  He has chosen former Dallas, Texas Mayor Ron Kirk to be the new U.S. trade representative.  Unfortunately, Mr. Kirk is the fourth pick by Mr. Obama that has had tax issues.  He owes $10,000 in taxes.  Ah, who cares, right?  We're used to this by now.  By the way, whoever is in charge of vetting these potential government officials should get a swift kick in the you know what and a pink slip.

2) The DOW drops another 300 points.  That puts us at below 6800 points, and is the lowest level since April 1997.  I was 11 years old the last time the stock market was this low.  Banks were battered in a sell off that started in Asia and moved quickly over to the U.S.  I really don't have much to say about this.  It's very troubling.  I am extremely worried.  And I think people don't really realize how bad of a sign this is.  But, what can you do?

3) AIG wants $30 billion more.  Sure.  Go ahead guys, its not like our economy's in the toilet or anything.  Henry Paulson/Tim Geithner, pat yourself on the back buddy.  AIG posted losses in excess of $99 billion in 2008.  And, the government has already given $150 billion to this troubled insurance giant.  You just have to know when to let things go.  I mean honestly, what is $30 billion going to do for AIG?  Because, it most certainly will not stop it from asking for more money.  If AIG wants to save money, maybe they should stop spending millions of dollars on sponsoring Manchester United.  Maybe that might help just a little bit.  Morons.  Let me put it for you this way.  Picture AIG as a terminally-ill patient who is in a vegetative state.  Picture Geithner and the Treasury as the medical team responsible for this patient.  And picture the billions of dollars being poured in as the oxygen flowing through the life support machine.  We're keeping AIG alive, at the tax-payers inconvenience, and for what?  In my opinion, we are delaying the inevitable.  The fall of AIG. 

4) 840 pound Emerald.  $400 million.  Coolest thing I've heard all day.

5) While millions of Americans struggle with unemployment, home foreclosures, and the worst economy since the Great Depression, Ms. Nancy Pelosi is flying around the country in a private luxury jet.  Yes, that's correct.  The good people of America have, and are currently, paying to maintain Speaker Pelosi's private plane.  Newt Gingrich, who was speaker of the house from 1995-1999, flew commercially.  I'm not a seasoned private jet aficionado, but I am guessing this jet costs $5-8 million to keep gassed up and maintain.  So why can't Pelosi fly like the rest of us?  Why are these politicians getting all of these perks, increased salaries, and pork-filled bills passed while Americans are losing their jobs, homes, and waiting in line for food stamps?

6) I can't say that I am surprised.  But, there has been some heavy criticism over President Obama's $3.6 trillion budget for the next few years.  It seems as though Mr. Obama and his administration have grossly OVER-estimated the amount of money they will save in ending the war in Iraq, and grossly UNDER-estimated the amount of money budgeted for the wars in Iraq and Afghanistan in the next three years.  They have estimated $50 billion per year (starting in 2011) for both the war in Iraq and Afghanistan.  While the estimated cost of war in 2009 is $142 billion.  Also, Obama's team estimates it will save $1.5 trillion over a 10 year period by cutting back on war spending.  But, this price tag would ensure spending $100 billion until 2019.  It just doesn't add up.  And, by the way, all I have been hearing from this administration is spending, spending, spending, and more spending.  Earth to White House, we are in A RECESSION.  STOP SPENDING MONEY.  I need to stop talking about this, because it is actually raising my blood pressure.  

7) I was thinking today about why the government isn't panicking so much during this economic downfall.  Don't you think the deeper we fall into this recession and economic mayhem, the more power the government gets?  I'm not a conspiracy theorist, nor am I a radical Conservative.  However, just entertain the notion.  Think about it.  The worse our economy gets, the more we "need" the government.  Soon, we will have an invasion into the private sector starting with nationalized banks, corporations, health care...All of these things will be controlled by the U.S. government.  Is THIS what the majority of Americans voted for?  I totally respect that Obama has made history, and I truly am proud that our country has evolved so much in the last few decades.  Going from oppression and open racism to having the first black President.  But, people, we are in a deep deep recession.  Nonetheless, historic events are no excuse for bad decisions, ill-advised spending, and a lack of action during times like this.  

Well, that about wraps up a very annoying and frustrating Monday.  I apologize if I forgot anything, but there was quite a bit to discuss.  All I can say is lets see what tomorrow brings us.  I'm gonna go ahead and anticipate another sell off on the market, but who really knows these days.  Have a good one my friends.