Custom Search
Flash Points

Wednesday, April 15, 2009

Tea Parties

Give me a break. We've got the richest 5% of the nation crying about having to pay more taxes, like the other 95% of the population is supposed to care. We finally got a president that is going to make you greedy rich bastards pay your fair share of taxes. Do you really think I care that you have to pay more in taxes than I can make in a lifetime? Are you really trying to provoke us poor people into going Robin Hood on all your asses. It is obvious you rich bastards can't do math. 95% is greater than 5%. Maybe you can understand that. Pres. Obama told the American people this was going to happen, that's why he got elected. Once again, let's do some math, Obama 53% to McCain 46%. The real American people have spoken and we ain't listening to you crybabies. You need to be in front of G.W. Bush's home because he is the one who put you in this position.

Sunday, March 15, 2009

Bailout Tactics

As I stated in my Bailout Plan, once the government gave money to these companies to bail them out, they would continue to abuse the American public with unscrupulous tactics when giving credit. I just read an article that talks about how the credit card companies are cutting people's credit limit in half without notifying them. They are cutting limits close to and below their outstanding balances causing people who have good credit to have to pay overlimit fees, and the government says this is legal!!! Combine that with the disclosure today that AIG got $170 billion in Bailout money and is paying $165 million in bonuses to employees. Again, the government says that there is nothing they can do about it because the company has a contract with it's employees to pay out these bonuses.

This comes from being in a rush to solve a problem that' can't be rushed. Would the government have given AIG this money if they had known about this contract? I don't think so. We know Pres. Obama has a devastating task ahead of him and he is anxious to get things moving in the right direction, but he is learning that his lack of experience in the Senate is a slight setback. He is learning that a lot of the people he thought he could trust to put in various positions of authority weren't as honest as he thought they were, most of them having problems paying taxes.

Pres. Obama made a lot of promises in his first State of the Union Address, but all presidents do. In order to make these promises come true he needs good help. He has to run his administration like a corporation, in the sense that he has to first create a business plan. This he has done by outlining his vision with distinct tasks and time limits. Next he has to put people that he can trust to get things done in charge of each division. Together they create a plan on what needs to be done and the necessary staffing. This is where Obama has hit snags because he has worked with most of these people in the past and thought of them as trustworthy, much like some of the people that were named to try to undermine him during his campaign, such as William Ayers.

This proves that Pres. Obama truly is naive when it comes to American politics. By not being a Washington Insider, he only looked at people from what he accomplished or tried to accomplish while working with these people on various committees or certain issues and felt they needed to be in a position to lead under him. It's been like adding Mark McGuire, Barry Bonds and Alex Rodriguez to your team. You know these guys can help you win a championship, but they have violated your policy of honesty. By the way, has anyone noticed how many Texas Rangers were using steroids while Bush owned the team? Don't remember them ever winning anything though. Another article on steroids later. You should also read about how Bush cheated the people of Arlington by having them pay for his stadium.

http://www.angelfire.com/ok5/pearly/htmls/bush-sec5.html

So now Pres. Obama has to choose replacements for people he thought he could trust with people he may not know as well, but will have to trust. That's the purpose of the business plan, knowing what has to be fixed in order to get things running smoothly again, or at least running. It will also let him know what adjustments need to be made within each department. I'm willing to bet that some people are turning down appointments to avoid being investigated. For example, it was pointed out on "Meet the Press" this morning that the Treasury Department has no staff members appointed under the Secretary of the Treasury. That's not good with the economy in the shape it's in.

So hopefully Pres. Obama has learned that he has to slow down and be the analytical man that he is. He can't let the Republicans and the media rush him into bad judgments trying to fix this mess. They knew this before the election so there is no need to panic less than two months into his administration. Besides, who is going to be stupid enough to listen to them anyway since they are the ones who created this mess.

But the two topics that I mentioned at the top of this article are a direct result of rushing to a fix. There is still no better plan than my Bailout Plan in the previous article. No one deserves the money more than the American people because of the way these banks, credit card, and mortgage companies have treated us and continue to treat us since some of them have received money from the government. Just look at two of the examples from the article. One man had his unlimited American Express limit reduced to $5000 when he owed $10,000. If you don't know, you have to pay your entire balance on American Express each month. Why would you attack a customer like this? The other example had a limit reduced from $9000 to $300 when the cardholder only owed $360, thus putting him over the credit limit and he had to pay a penalty. How in the hell can this be legal? Here is another article where you can read more:

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/15/AR2008111500216.html

By reducing your credit limit, it reduces your available credit, and reduces your credit ratio, which in turn reduces your credit score. So now some people with excellent credit scores will be lowered into the good bracket, thus costing them more in interest rates IF they can get more credit. This is the thanks the American taxpayers get for bailing out these companies, much as I predicted in my previous article. Then you have AIG. Not only are they paying bonuses to employees, they are going mostly to the division of the company that caused them to fail in the first place. All of this comes from not investigating these companies before giving them money. They should have been investigated and audited to find out why they went under, not just take their word for it. Hell, before they give you money they want to know your life history, so they should be subjected to even more scrutiny since their business failed.

So Pres. Obama, you face your first major setback as an administrator because you rushed to solve a problem that needs precise detail and judgement. I'm not saying your plan won't work, it has to be given time. But I guarantee my plan will show improvement much faster if implemented properly. Maybe even a combination of the two plans. As you are finding out, a lot of the people you trusted can't be trusted. They are only going to continue to come up with weak solutions that will benefit their ties to their corporate backers while the American people continue to suffer.

The credit card industry has been compared to loan sharks with their ability to increase interest rates above the 20 % level and to change terms at their leisure to further reduce your credit worthiness. At the same time, I can remember when banks gave you as much as 8% interest on savings and 6% on checking accounts. Now you get zero on checking and less than one percent on your savings. Remember, banks use your money to operate and this is how they repay you. Actually, you are loaning the banks money. It's like giving money to your brother to hold and he invests it behind your back, makes millions and doesn't give you any of the profits. He just gives you back what you ask for. In conclusion, I can't see how any plan to rescue the loan sharks is going to help the sheep that have been fleeced.

Tuesday, December 2, 2008

The Bailout

Since I am not an economist, all this talk about bailing out companies that screw the American people on a daily basis is very confusing to me. For some reason I just can't comprehend how giving money to companies that have overcharged us for years and are now suffering from their greed is going to help "fix" the economy. I'm talking about the oil companies, the utility companies, the American auto makers, the insurance industry, and the banks and finance companies just to name a few. I really take offense to the government officials and the media blaming the American citizens for the cause of this problem when these companies have been taking advantage of us with the government's blessings for years.
Most people don't know they are being taken advantage of because if they can afford to pay higher prices, they don't worry about the value they are getting for their money. They also either don't care or realize that they are making it more difficult for those trying to make a living on incomes below $50,000 a year. Think of it like this: if I had a million dollars, $50,000 is the equivalent of a nickle to a dollar. Now keep this figure in mind as we explore this problem. Let's apply this figure to the auto industry. With the growing number of millionaires through sports, music, and other means, it is nothing for them to walk into a car dealership and drop $50,000 on a new car. I walked into a dealership earlier this year and told the salesman I was looking for a "used" car that I could make payments of no more than $200 a month. He said we don't sell bicycles here. In other words, car dealerships could afford to laugh at the person making an average income because they knew they would catch the rich suckers and overcharge them and make a huge profit off of a couple of sales a day. Now they want the public to bail them out so they can continue taking advantage of the rich.
The insurance industry piggybacks off the auto industry because the law says you have to have insurance, therefore they can charge you what they want or you risk fines and jail time for not having it. Let your payment be late, you will be charged reinstatement fees and a higher rate for discontinued service. They will also cancel you for no reason in order to raise your rates. Some companies are allowed to raise your rates even if you haven't had any accidents or tickets since they have been covering you. How can you raise someones insurance if they haven't had any incidents and the value of their vehicle is steadily decreasing? Well it's because the government allows it. The gasoline companies took advantage of having oil men in office that allowed them to do whatever they felt like with gas prices. Create false shortages based on natural disasters and raise prices. It's holiday or summer vacation time, let's raise prices.
Banks and finance companies have been charging high interest rates for years based on what the government sets as the prime lending rate. I can remember when the interest on your savings account was higher than the interest rate on your loan. We even earned interest on checking accounts, just slightly lower than the rate on our savings. These institutions have found ways to punish you for having credit. It is almost impossible to keep your credit rating intact these days. Just watch the infomercial on "Debt Cures They Don't Want You To Know." Although I don't recommend the book for curing any debt problems, it gives a detailed message as to how the financial institutions work together to bring own your credit score. Why? Because the lower your credit score, the higher the interest rate they can charge you. Most of you know that every time you apply for credit, your score is lowered, but how many of you knew that every time you cancel a credit card, even if there is no balance due, you take a hit? There are all types of little hits designed into the system to bring your credit score down even if you've never missed a payment. For example, if you have a $1000 credit limit and you have charged $750 worth of merchandise and you make the minimum payment every month, your score is going to take hits for having a high balance and for slow pay, even though you are paying the minimum amount each month.
These are just a few examples of how these companies have been taking advantage of the American public for years because the government allows it. But all of this ripping off the poor has finally caught up with them. In the afore mentioned book, it tells how charging over 20% in interest rates is akin to loan sharking, yet credit companies regularly charge between 20-25% if you miss a payment, or they hold back your payment in order to accrue late charges and raise your interest rate. You may sign up for a 6% rate but be a day late and watch that rate jump to over 20%. People cannot afford to pay their bills due to all of these hidden increaes raising their payments from the original agreement. Now your credit score can affect your ability to obtain work. Can you believe that? If you have a low credit score, you may not be hired by a lot of companies. So you can't even get work to pay your bills, you can't even get work so you can be garnisheed! So they have created a situation where they can't get paid back because they were trying so hard to make it hard for you to pay in the first place.
The government wants to bail out the companies that have been ripping us off and still leave us in debt. As we have seen, when AIG got their money the executives went to a luxury resort within a few days. When the auto makers appeared in front of congress asking for money, they flew in on private jets, and when asked if they were willing to fly back on commercial airlines, no one responded with a yes. They want us to give them more money so they can continue to rip us off, and the government thinks this is a good idea. Well I've got a better idea.

Let's take that $700 billion and divide it by $25,000. That comes out to 28 million families that can use that money to get out of debt. The economy will be stabilized and everyone will be happy. Quit giving us these little ass teaser checks that wont even pay a months rent. Remember I said families, not people, should get the $25,000. They can pay off their debt and still have money to make new purchases. These families cannot make more than $100,000 a year, therefore their debt shouldn't be over the $25,000 level, excluding what is owed on a car and house. The average person in the lower income range doesn't have that much debt because they can't get that much credit, so let's bail them out and let them bail their creditors out that way. You would have to apply for the relief money the same way you would apply for a loan, by providing proof of your debt. If you think 28 million families is a lot, consider the fact that about 125 million people voted in the presidential election, not families, people. If necessary, just add more money to the bailout, if you can do it for companies and war, you can do it for the American people. What's a trillion dollars anyway?

Monday, November 10, 2008

More Gas Gouging

Is there any doubt that the current administration has been in cahoots with the oil companies to gouge as much money out of us as it could before leaving office? Gas prices per barrel are almost where they were when George Bush took office in 2001. But we are still paying a dollar more a gallon than when he took office. George Bush and Dick Cheney have destroyed the economy with their greed. He is now in the process of trying to cover up his mess before Barack Obama takes over. I'm sure he was looking forward to John McCain taking over and continuing this farce with our economy. Remember, McCain's wife's family made their fortune from beer, so I'm sure he felt comfortable with someone already rich taking over and keeping the rest of us poor. Now that we have someone who is like most Americans, honest and caring, Bush has to pull a Nixon and hide certain details of his corrupt administration's dealing with the oil companies.
With the constant dropping of oil prices, is there really any urgent need to start offshore drilling and drilling in Alaska's protected lands as Sarah Palin wants us to do? Maybe I'm wrong, but I don't think so. Here in Georgia we suffered for a month through a fake gas shortage supposedly created by Hurricane Ike, while the area it hit was not affected at all. We were told there was a surplus of crude oil but the refineries were shut down and couldn't produce gasoline. We were also told that Georgia uses a special blend of pollution reducing gasoline that the rest of the country doesn't use, therefore we couldn't get the gasoline we needed. But I wrote in an earlier article how the gas prices fluctuated with the poll numbers for the election.
When McCain had started slipping in the polls, prices per barrel started going down. When Palin was announced as his VP choice and poll numbers started rising right after Hurricane Ike, gas prices hit record highs. But as the public got to know Sarah Palin and the poll numbers started going down, so did oil prices per barrel. Now that Obama has been elected, prices are swiftly returning to where they should be. George Bush has a lot of cleaning up to do before he leaves office, but it won't be enough. One thing I remember that Barack Obama said is if he took office he would review everything Bush had done and if he found any wrong doing, he would bring Bush up on charges. Don't forget, both Obamas are Harvard graduated lawyers, with Barack being a specialist in Constitutional law.
Keep in mind, Obama is against unnecessary drilling that can further endanger the environment. There is no shortage of oil in the world, it was reported last week there is a surplus. No need to make more oil people richer. I think this economy will turn around a lot quicker than most people think now that we have the corrupt administration out of office. The Republicans are mad because Obama has threatened to raise taxes on the rich, which most Republicans are. He has also said he will increase spending in certain areas by taking away wasted money in others. Once again, this man has outsmarted Hilary Clinton and John McCain when it came to financially running his campaign, coming through both with surplus money. Why should we expect anything different with him handling the country's economy?

A New Beginning

Now that the election is over and Barack Obama is the President-Elect, the world seems to think this is a new beginning for America. Barack represents hope for millions of people worldwide who believe he will bring respect and dignity back to the perception of how America should be when dealing with the rest of the world. Also Black Americans are proud of White America for doing the right thing by electing the man most qualified for the job. It will be good to have someone running the country who brings intelligence and dignity to the office of President again. The first thing Obama has done is to begin surrounding himself with others who think also. Let me give George Bush credit for one thing right now, and that was passing a law allowing for the transition to the presidency to begin immediately after the election instead of after he takes office in January. This has allowed Obama to recognize the flaws in the current administration and begin putting the right people in the right places.
The one major difference between the Republican and Democratic parties is their views on how the country should be run. The Republicans always want to keep America at war as a show of might, while the Democrats are always working to keep the American economy strong at home. In my lifetime, the Democrats have always inherited a war started by a Republican president. Yes, John F. Kennedy entered the Viet Nam war, but America's involvement was set up by Richard Nixon while he was Vice President under Dwight Eisenhower. He was so sure he was going to win that election that everything had been put in motion for the U.S. to take over the role that the French already knew was hopeless. It took him eight years to get into office and he still couldn't finish what he had started. The situation was so bad that Lyndon Johnson refused to run for re-election in 1968, something unheard of for a sitting president, because no president has lost a chance at re-election while the country was still at war. This is why it has taken George Bush so long to end a war against a country without an army, when his daddy put Saddam Hussein in check in little over a month. Remember that? His daddy lost his chance at re-election because the country was not at war and the economy was in shambles after four years. Little George would not have been re-elected either in 2004 if he had not extended this senseless war.
Which brings us back to Obama, who inherits the same type of war in Iraq and Afghanistan. He already had a plan for what he wanted to do with the war, but after briefings with George Bush, and learning more of the misguided strategy they had, he has begun to make definite decisions on what he wants to do to end this atrocity. The Bush Administration has gotten rich off the blood of our children by perpetrating fear of Saddam Hussein when he was no longer a threat thanks to his dad. The mission at hand was to find Osama Bin Laden for the destruction he was accused of creating on September 11, 2001. The talk all this year against Iran has been exactly the same language we heard to justify going into Iraq. Although you may not like the religious views of Iranian President Mahmoud Ahmadinejad and his views of Israel, the man does have a point when it comes to dealing with him and any other of our designated enemies. Talk to him, not at him. That is why he is looking forward to dealing with Obama as president. At least he knows he can engage in dialogue with him, unlike George Bush who called him, Saddam Hussein, and Kim Jong Il the leaders of an Axis of Evil when he first took office.
George Bush never used diplomacy when dealing with his enemies and we could not expect John McCain to either. Hell, he couldn't handle Barack Obama in the debates and fortunately for us, white America was able to see this also. It has also become quite interesting to hear how Sarah Palin is responding to claims from the McCain camp about her lack of knowledge by calling them jerks. It is so easy for this woman to call people out of their names who don't agree with her. Not a real sign of class or leadership, which was another thing that is appealing about Obama. Through all the name calling he endured during his primary and presidential campaigns, not once did he disrespect his opponents by calling them out of their names. So you can expect him to treat the other leaders of the world the same way, no matter how they are viewed by past leaders. Remember it was Nixon who broke down the barriers with China, and Reagan with Russia. Expect President-Elect Barack Obama to do the same with some of our current enemies.
Watch the latest videos on YouTube.com