Years ago a song in a movie contained the lyrics, "Are you
watching me now? Watch closely now" When it comes to government debt,
American, or that of several of the EU nations I suggest you don't, that is if
you want to sleep well at night.
The author can be contacted at Advancingtime@aol.com
Friday, June 22, 2012
Thursday, June 21, 2012
Lance Armstrong Is Being Crucified
What appears to be a quasi-government agency has put the American hero Lance Armstrong on trial. I suspect I'm not the only taxpayer that is angry at the continuation of our government attacking it's citizens. Armstrong has been an incredible inspiration, an ambassador for America as well as a leader in bringing the issue of cancer and the fight against it to the forefront. On June 13th former professional cyclist Lance Armstrong was formally charged with doping by the U.S. Anti-Doping Agency, another creation of our Government that has run amuck. With no "due process" and a standard lower then "legal reasonable doubt" the USADA charges and investigation amounts to the crucifixion and destruction of the life and rights of an American citizen using our taxpayer money.
The Wall Street Journal cited a letter in which the agency said blood samples collected in 2009 and 2010 were "fully consistent with blood manipulation including EPO use and/or blood transfusions." In a statement, Armstrong attacked the "discredited allegations dating back more than 16 years." The action could cost Armstrong some or all of his seven Tour de France titles, according to the Journal, he's now banned from competing in triathlons as a result of the charges. The case is no longer just about whether Armstrong used drugs to win the Tour de France, but whether there was a team-wide doping program, an offense that could lead to fraud and conspiracy charges.
Of course two of the accusers, Landis and Hamilton, have credibility issues and have changed their stories. A story by CBS chose to rely on these questionable sources while completely ignored Lance's nearly 500 clean tests and the hundreds of former teammates and competitors who would have spoken about his work ethic and talent. Armstrong and his lawyers claim Hamilton is leveraging his allegations against Armstrong to try to secure a book deal. Hamilton's public remarks put him alongside not only Landis but also George Hincapie as the third trusted teammate to have allegedly spoken to federal authorities looking into the Armstrong case. (See the Reuters release below:)
---------------------------------------------------------------------------------
(Reuters) - Statement released by Lance Armstrong on Wednesday in response to reports he had been contacted by the United States Anti-Doping Agency over doping allegations
"I have been notified that USADA, an organization largely funded by taxpayer dollars but governed only by self-written rules, intends to again dredge up discredited allegations dating back more than 16 years to prevent me from competing as a triathlete and try and strip me of the seven Tour de France victories I earned. "These are the very same charges and the same witnesses that the Justice Department chose not to pursue after a two-year investigation. These charges are baseless, motivated by spite and advanced through testimony bought and paid for by promises of anonymity and immunity.
"Although USADA alleges a wide-ranging conspiracy extended over more than 16 years, I am the only athlete it has chosen to charge. USADA's malice, its methods, its star-chamber practices, and its decision to punish first and adjudicate later all are at odds with our ideals of fairness and fair play. "I have never doped, and, unlike many of my accusers, I have competed as an endurance athlete for 25 years with no spike in performance, passed more than 500 drug tests and never failed one. "That USADA ignores this fundamental distinction and charges me instead of the admitted dopers says far more about USADA, its lack of fairness and this vendetta than it does about my guilt or innocence."
-----------------------------------------------------------------------------------
I'm dubious and suspicious of any testimony that is sought after with such vigor and where the accuser is given immunity. I must question if the testimony has been coerced or the motivation of the accusers and why these guys continue to try to bring Armstrong down with taxpayer money? What do they feel they have to prove? Baseball great Roger Clements Roger was recently acquitted on all charges that he obstructed and lied to Congress in denying he used performance-enhancing drugs to extend his pitching career. Like the governments assault on Martha Stewart this is another example of injustice, she did time and was forced to pay huge fines not for insider trading (something that until recently was legal for politicians in Washington), but for lying. What politician could endure this kind of constant scrutiny?
The Wall Street Journal cited a letter in which the agency said blood samples collected in 2009 and 2010 were "fully consistent with blood manipulation including EPO use and/or blood transfusions." In a statement, Armstrong attacked the "discredited allegations dating back more than 16 years." The action could cost Armstrong some or all of his seven Tour de France titles, according to the Journal, he's now banned from competing in triathlons as a result of the charges. The case is no longer just about whether Armstrong used drugs to win the Tour de France, but whether there was a team-wide doping program, an offense that could lead to fraud and conspiracy charges.
Of course two of the accusers, Landis and Hamilton, have credibility issues and have changed their stories. A story by CBS chose to rely on these questionable sources while completely ignored Lance's nearly 500 clean tests and the hundreds of former teammates and competitors who would have spoken about his work ethic and talent. Armstrong and his lawyers claim Hamilton is leveraging his allegations against Armstrong to try to secure a book deal. Hamilton's public remarks put him alongside not only Landis but also George Hincapie as the third trusted teammate to have allegedly spoken to federal authorities looking into the Armstrong case. (See the Reuters release below:)
---------------------------------------------------------------------------------
(Reuters) - Statement released by Lance Armstrong on Wednesday in response to reports he had been contacted by the United States Anti-Doping Agency over doping allegations
"I have been notified that USADA, an organization largely funded by taxpayer dollars but governed only by self-written rules, intends to again dredge up discredited allegations dating back more than 16 years to prevent me from competing as a triathlete and try and strip me of the seven Tour de France victories I earned. "These are the very same charges and the same witnesses that the Justice Department chose not to pursue after a two-year investigation. These charges are baseless, motivated by spite and advanced through testimony bought and paid for by promises of anonymity and immunity.
"Although USADA alleges a wide-ranging conspiracy extended over more than 16 years, I am the only athlete it has chosen to charge. USADA's malice, its methods, its star-chamber practices, and its decision to punish first and adjudicate later all are at odds with our ideals of fairness and fair play. "I have never doped, and, unlike many of my accusers, I have competed as an endurance athlete for 25 years with no spike in performance, passed more than 500 drug tests and never failed one. "That USADA ignores this fundamental distinction and charges me instead of the admitted dopers says far more about USADA, its lack of fairness and this vendetta than it does about my guilt or innocence."
-----------------------------------------------------------------------------------
I'm dubious and suspicious of any testimony that is sought after with such vigor and where the accuser is given immunity. I must question if the testimony has been coerced or the motivation of the accusers and why these guys continue to try to bring Armstrong down with taxpayer money? What do they feel they have to prove? Baseball great Roger Clements Roger was recently acquitted on all charges that he obstructed and lied to Congress in denying he used performance-enhancing drugs to extend his pitching career. Like the governments assault on Martha Stewart this is another example of injustice, she did time and was forced to pay huge fines not for insider trading (something that until recently was legal for politicians in Washington), but for lying. What politician could endure this kind of constant scrutiny?
Wednesday, June 13, 2012
Putin Strengthens Ties With China
Russian President Vladimir Putin
vowed to boost trade and cooperation with China after meeting
Chinese leaders as the sides push against Western calls for
stronger action in Syria and Iran. Putin and President Hu Jintao agreed recently in Beijing
to increase trade to $200 billion by 2020 from $83.5 billion in
2011. The two leaders also discussed North Africa, the Korean
Peninsula, and Iran's nuclear program. In total, Putin and Hu oversaw the signing of 12
agreements, including the creation of a $4 billion joint
investment fund. The wealth funds of Russia and China will each
commit $1 billion, raising additional money from third-party
international investors.
Putin has pledged to strengthen Russia’s economic and political ties with China after skipping a Group of Eight summit in the U.S. last month. As veto-wielding members of the United Nations Security Council, Russia and China have blocked resolutions pushing for stronger sanctions on Syrian President Bashar al-Assad’s regime and oppose expanding Iran sanctions. “The most important thing is that we reached a high level of coordination in order to help mediate and solve international crises and problems,” Putin said at a joint press conference. “Thanks to our efforts we have lifted the level of Russian-Chinese cooperation to unprecedented heights.” Putin also met with Vice President Xi Jinping where he confirmed the two sides would continue military cooperation.
The Chinese Vice Foreign Affairs Minister May said China opposes sanctions that restrict normal trade with Iran. “The situation internationally remains very difficult,” Chinese Premier Wen Jiabao said after meeting with Putin. Strengthening the partnership “has crucial importance for ensuring peace and stability in the world,” Wen said. Putin will also meet with Iranian President Mahmoud Ahmadinejad while in Beijing, this meeting foreshadows an international round of talks about Iran’s atomic program in Moscow on June 18-19. Iran claims its nuclear program is for peaceful purposes and is seeking relief from the economic sanctions the U.S. and the European Union have imposed. This unholy alliance between Russia and China may create major problems for America going forward, it certainly is a negative for the people of Syria.
Putin has pledged to strengthen Russia’s economic and political ties with China after skipping a Group of Eight summit in the U.S. last month. As veto-wielding members of the United Nations Security Council, Russia and China have blocked resolutions pushing for stronger sanctions on Syrian President Bashar al-Assad’s regime and oppose expanding Iran sanctions. “The most important thing is that we reached a high level of coordination in order to help mediate and solve international crises and problems,” Putin said at a joint press conference. “Thanks to our efforts we have lifted the level of Russian-Chinese cooperation to unprecedented heights.” Putin also met with Vice President Xi Jinping where he confirmed the two sides would continue military cooperation.
The Chinese Vice Foreign Affairs Minister May said China opposes sanctions that restrict normal trade with Iran. “The situation internationally remains very difficult,” Chinese Premier Wen Jiabao said after meeting with Putin. Strengthening the partnership “has crucial importance for ensuring peace and stability in the world,” Wen said. Putin will also meet with Iranian President Mahmoud Ahmadinejad while in Beijing, this meeting foreshadows an international round of talks about Iran’s atomic program in Moscow on June 18-19. Iran claims its nuclear program is for peaceful purposes and is seeking relief from the economic sanctions the U.S. and the European Union have imposed. This unholy alliance between Russia and China may create major problems for America going forward, it certainly is a negative for the people of Syria.
Please read my February 12, 2012, post titled "Syria uprising is past the point of Return!" The situation has continued to deteriorate. It is now reported that Russia has shipped helicopter gunships to Syria to be used to suppress the people.
Tuesday, June 12, 2012
Marriage and other Words "Redefined"
In modern society the meaning of many words are constantly being re-framed and redefined. Some of this can be directly contributed to political correctness, a poison that has spread throughout our modern culture. Great power lies in how people perceive the meaning of a word or phrase. This is highlighted by the example of how years ago President Reagan renamed the then MX missile the "Peacemaker", this redefined the way people related and felt and it. Recently these forces have turned their sights on marriage, traditionally a union between a man and a woman.
The definition of marriage varies according to different cultures,the social institution under which a man and woman establish their decision to live as husband and wife by legal commitments, religious ceremonies, etc. but is usually an institution in which interpersonal relationships, usually intimate and sexual, are acknowledged. Such a union is often formalized via a wedding ceremony. Many cultures limit marriage to two persons of the opposite sex, but some allow forms of polygamous marriage, and some recognize same-sex marriage.
The marriage discussion comes on the back of redefining "wants into needs," we are now being told what people "deserve". When you tell me what people deserve I feel my stomach churn. For example all people deserve respect, give me a break, I take my fathers old school approach, respect is something you earn. It is ironic that many of those that constantly seek more justify their request because they feel they "deserve, " often fail to respect the source of what they are given. It might be noted that since they feel they "deserve" what they take, the need does not exist to be "thankful" in any way.
The definition of marriage varies according to different cultures,the social institution under which a man and woman establish their decision to live as husband and wife by legal commitments, religious ceremonies, etc. but is usually an institution in which interpersonal relationships, usually intimate and sexual, are acknowledged. Such a union is often formalized via a wedding ceremony. Many cultures limit marriage to two persons of the opposite sex, but some allow forms of polygamous marriage, and some recognize same-sex marriage.
Monday, June 11, 2012
Government Centered Economy
A "Government Centered Economy", who deserves credit for this very descriptive phrase? The first person I heard using this phrase was Mitt Romney. The phrase may of been around for years or conjured up by one of his speech writers, but when used to describe the new American economy it is bang on. Government needs to get out of the way and let America get back to work, the job of government is not to compete with business.
During the election President Obama said "the private sector is doing fine" he went on to say that it is the public sector that is laging at creating jobs. His answer more deficit spending to drive the economy forward by having states and localities hire police, firemen, teachers, and talking about increasing spending on infrastructure. At the time Romney and others jumped all over this calling Obama out of touch. What they should of hammered on is that after much thought people are beginning to reject the idea of the private sector working to support the government, government should be working for the private sector.
Some view the failure of the 2012 Governor Scott Walker "recall election' in Wisconsin as a watershed event and a sign of changing public sentiment. Simply put the problem is government jobs often pay more and provide benefits, security, and pensions that the private sector cannot afford to meet. An unhealthy system supports this, politicians give raises to government employe unions that in turn support the politicians reelections so they can get further raises, this has created a ugly cycle. This should be the crux of the discussion about the economy going forward, the size of government must be contained and reduced.
Capitalism should be defended when blamed for the ills and problems that exist within society, capitalism is really just an economic system where capital is owned by private citizens who get to determine its price and flow by interacting with one another. Capitalism implies that private citizens get to keep most of the fruits of their labor or the profitability of their capital and by its nature it creates value for those without capital when appropriate rules of fairness and honesty exist. Individual freedom to own property and control its use leads to the most efficient allocation of resources this in turn results in the highest economic growth and prosperity.
While capitalism is not perfect the closer society adheres to its general principles the better it is for the population at large. When you place the bulk of society's power in the hands of a central authority or bureaucracy many of the natural imperfections of human decision making including the problem of unintended consequences quickly arise. Central planners with little skin in the game seldom garner enough information to make wise decisions about the allocation of resources across an entire society. Central planning tends to release corruption, arrogance, and the fallibility of human nature, when these become concentrated it should come as no surprise that governments do almost everything with less efficiency than the private sector and at greater cost.
While politicians rush to say they want to add the "good public employees" like teachers and "first responders" they fail to mention the large expensive support system of bureaucrats that exist behind the scenes. Politicians rush to offer infrastructure like bridges but fail to address the massive waste in government spending projects as they tear up and replace perfectly good sidewalks, the jobs government creates are the wrong kind of jobs. Those who understand business and budgets should focus on this issue, a "Government Centered Economy" is one that does not work.
During the election President Obama said "the private sector is doing fine" he went on to say that it is the public sector that is laging at creating jobs. His answer more deficit spending to drive the economy forward by having states and localities hire police, firemen, teachers, and talking about increasing spending on infrastructure. At the time Romney and others jumped all over this calling Obama out of touch. What they should of hammered on is that after much thought people are beginning to reject the idea of the private sector working to support the government, government should be working for the private sector.
Some view the failure of the 2012 Governor Scott Walker "recall election' in Wisconsin as a watershed event and a sign of changing public sentiment. Simply put the problem is government jobs often pay more and provide benefits, security, and pensions that the private sector cannot afford to meet. An unhealthy system supports this, politicians give raises to government employe unions that in turn support the politicians reelections so they can get further raises, this has created a ugly cycle. This should be the crux of the discussion about the economy going forward, the size of government must be contained and reduced.
Capitalism should be defended when blamed for the ills and problems that exist within society, capitalism is really just an economic system where capital is owned by private citizens who get to determine its price and flow by interacting with one another. Capitalism implies that private citizens get to keep most of the fruits of their labor or the profitability of their capital and by its nature it creates value for those without capital when appropriate rules of fairness and honesty exist. Individual freedom to own property and control its use leads to the most efficient allocation of resources this in turn results in the highest economic growth and prosperity.
While capitalism is not perfect the closer society adheres to its general principles the better it is for the population at large. When you place the bulk of society's power in the hands of a central authority or bureaucracy many of the natural imperfections of human decision making including the problem of unintended consequences quickly arise. Central planners with little skin in the game seldom garner enough information to make wise decisions about the allocation of resources across an entire society. Central planning tends to release corruption, arrogance, and the fallibility of human nature, when these become concentrated it should come as no surprise that governments do almost everything with less efficiency than the private sector and at greater cost.
While politicians rush to say they want to add the "good public employees" like teachers and "first responders" they fail to mention the large expensive support system of bureaucrats that exist behind the scenes. Politicians rush to offer infrastructure like bridges but fail to address the massive waste in government spending projects as they tear up and replace perfectly good sidewalks, the jobs government creates are the wrong kind of jobs. Those who understand business and budgets should focus on this issue, a "Government Centered Economy" is one that does not work.
Thursday, June 7, 2012
The Millionaire Mind
What have you been reading? I was moving around some books the other day
and opened a book by the name of “The Millionaire Mind”. The author
Thomas Stanley also wrote the book “The Millionaire Next Door” which was a
best-seller a few years back. The people he studies are financially secure. This book takes a deeper look into how
these people think and make their money.
Far from what many of us might think his studies and research show that millionaires are a real down to earth group of people, the kind that made America famous. He looks at where they live, their favorite leisure activities, and the different factors that make them wealthy. Somewhat obscure and not just off the press this book is an excellent read and a manual for those of us wanting to get ahead.
Thomas Stanley reminds us you can’t judge a book by its cover, and that the fella you see mowing his yard or sitting next to you as you fly in coach may just be a millionaire. The book is about making and saving money the old fashion way, not through winning a lottery. This is a far more realistic look at the rich and wealth in America then the hyped and unhealthy fixation of the media on billionaires.
Far from what many of us might think his studies and research show that millionaires are a real down to earth group of people, the kind that made America famous. He looks at where they live, their favorite leisure activities, and the different factors that make them wealthy. Somewhat obscure and not just off the press this book is an excellent read and a manual for those of us wanting to get ahead.
Thomas Stanley reminds us you can’t judge a book by its cover, and that the fella you see mowing his yard or sitting next to you as you fly in coach may just be a millionaire. The book is about making and saving money the old fashion way, not through winning a lottery. This is a far more realistic look at the rich and wealth in America then the hyped and unhealthy fixation of the media on billionaires.
Saturday, June 2, 2012
Fantasy World of Debt and More Liquidity
The entitlement societies that have developed over the last several decades were created on the back of the industrial revolution, technological
advantages, capital accumulated from the colonial
era, and the domination of global finances. Our current entitlement societies were built on the
assumption that those advantages would continue in both Europe
and US, and that ever greater prosperity and promises would be sustained through debt financed consumption growth. In that eerie fantasy world, debt was to be used as a tool fueling consumption and be the catalyst to bring about ever more growth.
Now reality has raised its ugly head and it is becoming apparent that this is unsustainable. The entitlements and promises that have piled up have become overwhelming. While the populations of Europe and America were led to believe the good times would never end, their core advantages in technology, capital, and productivity started to erode, and to lag behind the emerging countries. Manufacturing jobs have steadily gone elsewhere, replaced by low skilled service jobs, this has removed the supports from our debt fueled prosperity showing it to be unsustainable.
We were told that we were moving up the value chain, while in reality the opposite was true. The debt fueled prosperity and consumption growth led many to believe that their future would be secure if they moved towards "higher value adding activities" than the emerging and developing countries. The economies we built on those false assumptions are now crashing down. Merely addressing the symptoms of our malaise as "financial problems", a tactic being tried by leaders, central banks, and the IMF, will only raise false hope, it will not avert the economic and political catastrophe. If governments are allowed to default on their debts only the foolish and insane will choose to loan them money.
Central banks have tried to address the situation by printing money and adding liquidity. Driving down the interest on government debt has been a key component in kicking the can down the road. This is their equivalent of a band-aid, and they have been putting one band-aid on top of another, but our wounds are not healing. In the modern border-less world we have created, bankers are finding it impossible to control where money flows, the result is akin to pouring water into a leaky bucket. Money flows into the hands of speculators, manipulators, and a over valued stock market, meanwhile the poor and many people have little prospects to earn money, their only or chief source of income is that given to them by governments running massive deficits.
For years those in charge have busied themselves looking for "green shoots", they touted that we only need "confidence", and that consumers should go out and spend. All the time they caution that austerity is not the answer and will only make things worse, the bonds and coupons of the strongest countries are yielding 0% with inflation leaving the buyer locked into a losing hand. The reward for saving and doing the "right thing" is gone. Our government centered economy does not work, the emperor has no clothes! Prepare for our Government and others across the world to break promises and rewrite the rules. The bottom line is that you cannot spend your way out of debt, the fat lady is about to sing!
Now reality has raised its ugly head and it is becoming apparent that this is unsustainable. The entitlements and promises that have piled up have become overwhelming. While the populations of Europe and America were led to believe the good times would never end, their core advantages in technology, capital, and productivity started to erode, and to lag behind the emerging countries. Manufacturing jobs have steadily gone elsewhere, replaced by low skilled service jobs, this has removed the supports from our debt fueled prosperity showing it to be unsustainable.
We were told that we were moving up the value chain, while in reality the opposite was true. The debt fueled prosperity and consumption growth led many to believe that their future would be secure if they moved towards "higher value adding activities" than the emerging and developing countries. The economies we built on those false assumptions are now crashing down. Merely addressing the symptoms of our malaise as "financial problems", a tactic being tried by leaders, central banks, and the IMF, will only raise false hope, it will not avert the economic and political catastrophe. If governments are allowed to default on their debts only the foolish and insane will choose to loan them money.
Central banks have tried to address the situation by printing money and adding liquidity. Driving down the interest on government debt has been a key component in kicking the can down the road. This is their equivalent of a band-aid, and they have been putting one band-aid on top of another, but our wounds are not healing. In the modern border-less world we have created, bankers are finding it impossible to control where money flows, the result is akin to pouring water into a leaky bucket. Money flows into the hands of speculators, manipulators, and a over valued stock market, meanwhile the poor and many people have little prospects to earn money, their only or chief source of income is that given to them by governments running massive deficits.
For years those in charge have busied themselves looking for "green shoots", they touted that we only need "confidence", and that consumers should go out and spend. All the time they caution that austerity is not the answer and will only make things worse, the bonds and coupons of the strongest countries are yielding 0% with inflation leaving the buyer locked into a losing hand. The reward for saving and doing the "right thing" is gone. Our government centered economy does not work, the emperor has no clothes! Prepare for our Government and others across the world to break promises and rewrite the rules. The bottom line is that you cannot spend your way out of debt, the fat lady is about to sing!
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