New holes in body parts

Victoria asked for 2 days straight for earrings. She told Mommy over and over until Mommy said she needed to tell Daddy. As soon as Daddy walked in the door from work on Wednesday she ran to him and said "Daddy I NEED earrings!".

Thursday afternoon Mom took her to get her earrings. She was so excited! Mom decided NOT to tell her it was going to hurt. She was afraid Victoria would move her head at the last second if she knew what was actually coming, so the poor thing was completely shocked when they were stabbed into her ears. She only cried for a minute, once Mommy gave her a lolly-pop she was all better! After she calmed down she was so happy to have her pretty earrings! Mommy asked her if we should get Aryah some earrings too. She said NO! Mom thought she didn't want Aryah to have to get hurt too, but no... she said "I'm the only one who can have earrings and be a princess"! Lovely.

"The government solution to a problem is usually as bad as the problem." - Milton Friedman

One of the key issues being ignored by the mainstream media is that the National Taxpayers Union Foundation published data which shows that Bob Barr will decrease federal spending by $201 billion dollars. According to their data, John McCain the big-spending "maverick" will increase federal spending by $92 billion and Barack Obama will add $293 billion of "change" to the federal budget.

http://www.ntu.org/pdf/P080925Barr_SpendingAnalysis.pdf

http://www.ntu.org/pdf/P080925_McCainAgendaCostUpdate.pdf

http://www.ntu.org/pdf/P080925_ObamaAgendaCostUpdate.pdf

Mulitple Votes - Texas Legislature

Texas Legislature meets only every 2 years and they are scheduled to meet starting January 2009. Please contact them and let them know that you don't approve of double voting...

Financial "Rescue" Plan

Like most American's, I've been trying to wrap my head around the happenings in the financial markets and the government intervention. At first, I felt that something needed to be done to prevent a complete market crisis; however, now I'm starting to feel otherwise. Since I have this blog, I thought I'd post my thoughts and be done with it. I'm going to try to avoid discussing all the crazy politics that have been going on around this issue, but focus instead on the key issues.

First, I am a capitalist. I have studied the markets, I understand the fundamentals behind the markets, and I believe the markets work best when LEFT ALONE. People will argue that the markets didn't work in this situation. In fact, Iran's President, Mahmoud Ahmadinejad, said, "There are some who believe we can improve the economic situation with the formulas that are prescribed by the West; they must know that capitalist systems are falling apart." However, the reason the markets didn't work in this situation was too much governmental manipulation in the past. Companies come and go - markets go up and down. It's normal. An example is in business with statistical quality control charts. A product is measured as acceptable within a range above and below a certain line. Until it falls out of that range, does intervention need to happen. Government has regularly and repeatedly intervened when data isn't exactly on the line, but not out of range.

Second, I am not comfortable with government operating in a business interest, whether that be an investment bank, or these quasi-business ventures such as Fannie and Freddie. That's what caused the problem in the first place. Everyone knew that the government would ultimately bail them out. Under Paulson's plan, eventually the government might make a lot of money on these purchased assets. However, do you think we'll ever see any of that in reduced taxes? Probably not.
Government accounting is done almost backwards from normal business accounting. They estimate their "revenues" from the various sources (usually mostly tax) and then they calculate their appropriations, or budgets. I believe the government will be subject the same mistakes the financial institutions have made, by GUESSING what they think these assets will generate in future years and spend the money before they generate it, on new programs such as nationalized healthcare, etc... If the money doesn't come in, we're now even worse off...

Third, this may sound bad, but I believe, and have believed for some time, that the economy and government needs a "reset". After the stock market crash of 1929 and the Great Depression, Secretary of the Treasury, Andrew Mellon advised President Hoover that shock treatment would be the best response: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.... That will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people." Hoover rejected this advice and started other programs to end the Depression, all of which failed. The market collapse was inevitable and while the liquidation may have made an immediate negative effect, it may have done what it was intended to do. Ultimately, the Depression was turned around by a combined effort of many things. A war, the New Deal, other programs; however, the people did have a value adjustment. Conservation and rationing were now a reality. Then the people could rebuild.
Now days, with credit card debt, mortgage problems, and the general welfare state we exist in, I believe the country could use a value adjustment.

One final thought. Congress rarely gets things right. Especially this Congress. So, why do we feel that we can trust them to handle this deal correctly in such a short period of time? The Republicans have offered other plans, so at least someone is thinking up there.

"Part of what a leader does to instill confidence, is to demonstrate he or she knows what they are talking about..." Joe Biden

Right now, Congressional leaders are working through the details of the banking nightmare. It's so complicated that there is no way Congress will get it right...
Especially when our Congressional leaders are people like Joe Biden.

Watch this clip...pay attention at 0.29 to .49



Did you catch it? He said, when the stock market crashed (which was 1929), Franklin Roosevelt (who wasn't President yet) got on TV (which weren't invented yet) and blah blah...

As quoted by Joe Biden, "Part of what a leader does to instill confidence, is to demonstrate he or she knows what they are talking about..."

Clearly he doesn't.

"Texas law doesn't make any exceptions..." - Wes Benedict, Libertarian Party Executive Director

I posted something on this earlier in the month, but took it off while I made sure I had accurate information. I find this very interesting. While I believe the rules are the rules, leaving McCain and Obama off the Texas ballot is a benefit for Obama (since McCain will most likely win Texas). In that case, I'm conflicted in my desires...

Here is the story:

AUSTIN - September 16, 2008 - Libertarian presidential candidate Bob Barr, along with the Libertarian Party of Texas (LPT), has filed a lawsuit to have Barack Obama, John McCain, and their running mates removed from the Texas general election ballot. The Republican and Democratic parties failed to certify their nominees by the August 26 deadline. "We notified the press of this missed deadline on August 27," said Wes Benedict, LPT Executive Director. "Unfortunately, Secretary of State spokesman Scott Haywood, on his last day of work, misled the press by telling them that the Republicans and Democrats had already filed the necessary certifications. The misleading statements by the Secretary of State's office, plus their foot-dragging in releasing the documents to us, made us mad."

Here are copies of the actual documents: http://www.bobbarr2008.com/files/dqcertification.pdf and sure enough...they did miss the deadline.

These rules are setup and used relentlessly against third party candidates and now the main two parties seem to be getting around them...

Fannie Mae and Freddie Mac - "The Federal Government continues to spend money it does not have." - John Cornyn (R-TX)

The recent collapse of Fannie May and Freddie Mac is a very complicated matter. While there is little disagreement that a "bail-out" was necessary to prevent a run on the banks or other fiscal disorder, the implications of the fall-out are open for discussion.
Yesterday, John Cornyn, Senator from Texas, said the following on the floor:

"I wish to join my colleague from New Hampshire in raising some alarm--not intemperate, not hysterical alarm, but alarm nonetheless--about the recent reports that the Federal deficit has now risen in excess of $400 billion. Of course, what that means is that the Federal Government continues to spend money it does not have, and I think the American people are rightfully concerned that we are on a course of significant fiscal irresponsibility for which a tremendous price is going to be paid by our children and grandchildren.

The Senator from New Hampshire mentioned the fact that here we are in September, and this Congress, under the Democratic control conferred upon them in the last election, has yet to pass a single appropriations bill. I know that in the blame game--which in Washington, DC, is a world-class sport--our colleagues on the other side of the aisle like to point to the President of the United States as the person responsible for the high budget deficit. But the fact is that the President can't appropriate a penny of money. The President does not have that authority under the Constitution of the United States. Only Congress can appropriate money, and Congress is the one that should bear the responsibility for this tremendous state of fiscal neglect and irresponsibility that brings us here today.
...
It is a troubling sign that our deficit has ballooned from $161 billion to more than $400 billion. Yet what do we find out yesterday or the day before but that the Federal Government is now going to have to take over, in essence, Freddie Mac and Fannie Mae. This move could potentially cost taxpayers as much as $200 billion more on top of the $400 billion deficit.

Since the 2006 election, Democrats have been in control. And this year alone, spending has increased by 8.3 percent. Now, I don't know any business, I don't know any family who increased their spending 8.3 percent from last year to this year. Only the Federal Government--which, of course, prints money, which is then added to the deficit and the bill passed on to our children and grandchildren--only the Federal Government could get away with that."
...
I have written a letter to the Attorney General of the United States asking him to conduct a criminal investigation into the activities of the corporate officers and anyone else who may have contributed to the overstatement of assets on the books of Fannie Mae and Freddie Mac and to make sure a thorough criminal investigation is undertaken and that those responsible for violating any of the criminal laws of the United States be held accountable."

Here is a link to his letter if you are interested in reading it -
http://cornyn.senate.gov/public/index.cfm?FuseAction=ForPress.NewsReleases&ContentRecord_id=4d0d8574-802a-23ad-43bf-527b0dff0dbc&Region_id=&Issue_id=


Does anyone remember the savings and loan crisis of the 1980's and 1990's?

Here is another interesting article from the WSJ titled, "Why No Outrage?"
http://online.wsj.com/public/article_print/SB121642367125066615.html

I suggest you contact your representative and have them support a full investigation into the financial collapse of these institutions.