Lottery Post Journal

FANNIE, FREDDIE: Devastating video from 2004

This is a video every single tax payer shhould watch, beinning to end.  It's less than 10 minutes long.

You will hear Republicans and Democrats speaking about the two entities responsible for the current financial mess:  Fannie Mae and Freddie Mac.

This is not spin, and it leaves no doubt as to the blame.

The is from four (4) years ago.  This crisis could have been avoided.

http://www.youtube.com/watch?v=YL36nwCSYUM

THE BAILOUT: Here is a much better idea...

This arrived in my e-mail box this evening.  I think it's brilliant.

What do you think?

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child.  So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+  into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

  • Pay off your mortgage – housing crisis solved.
  • Repay college loans – what a great boost to new grads
  • Put away money for college – it'll be there
  • Save in a bank – create money to loan to entrepreneurs.
  • Buy a new car – create jobs
  • Invest in the market – capital drives growth
  • Pay for your parent's medical insurance – health care improves
  • Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+   including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.

  • Sell off its parts.
  • Let American General go back to being American General.
  • Sell off the real estate.
  • Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington, D.C.

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

—Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

COMMON SENSE - I wish this person was my Congressman

I am in awe.  This man has profoundly articulated my exact thoughts, and has done so brilliantly on the House floor.

Why doesn't this man get the attention he deserves on the evening news?

http://www.youtube.com/watch?v=MlfmvwxxgHM

Sarah Palin Mythology Debunked

By: Ronald Kessler

With George Bush soon leaving office, what will Bush bashers do with themselves? If Sarah Palin is elected vice president, it appears they will target her.

Already, with the help of the media, they have managed to obfuscate the record of John McCain's vice presidential nominee and create a string of myths about her. To set the record straight, here are the chief myths, along with the facts.

Myth: As governor of Alaska, Palin put the governor's plane up for sale on eBay but did not really sell it.

Fact: After she did not find a buyer on eBay, she sold the plane eight months later through a broker for $2.2 million.

Myth: Palin did not really stop the "Bridge to Nowhere."

Fact: During her gubernatorial race in 2006, she endorsed the bridge but as governor rejected it, allocating the federal earmark money elsewhere. Meanwhile, in 2005, Barack Obama voted against a Senate amendment to stop funding for the project.

Myth: As mayor of Wasilla, Palin banned nearly 100 books, including "The Adventures of Tom Sawyer," "The Adventures of Huckleberry Finn," and "Death of a Salesman."

Fact: Palin never banned any books. An emailed list of books she supposedly banned included Harry Potter books that had not yet been published when she was in office.

Myth: Palin fired her public safety commissioner because he would not terminate a trooper who was her former brother-in-law after he had been suspended for five days for misconduct.

Fact: Palin did want Walt Monegan to fire her former brother-in-law. But extensive emails from Palin and her aides show she was upset with him because he repeatedly defied her instructions on a string of budget requests. He was offered another job but declined to take it.

Myth: Palin cut funding for special needs education by 62 percent.

Fact: Funding for the program in question was actually tripled thanks to legislation signed by Palin.

Myth: Palin wanted Alaska to secede from the U.S.

Fact: A member of the Alaskan Independence Party incorrectly told the New York Times that Palin at one time had been a member. She later recanted this claim and issued a public apology to the governor.

Myth: Palin left Wasilla residents disenchanted with her.

Fact: In subsequent elections, Wasilla residents voted for Palin by 70 percent or more.

Myth: Palin has no experience.

Fact: Sarah Palin has a string of accomplishments to show for her herself. As mayor, she cut property taxes by 75 percent and reduced her own salary by 10 percent. After joining the Alaska Oil and Gas Conservation Commission in 2003, she led an ethics probe of the commission's chairman, Randy Ruedrich, who also was the state GOP chairman. Facing conflict-of-interest-allegations, Ruedrich admitted ethics violations and resigned.

Besides opposing the $400 million "Bridge to Nowhere," Palin as governor used her veto power to cut nearly $2 billion from the state budget. She was successful in enacting ethics reform legislation. While pushing to develop more energy resources, she reformed the system for paying Alaskans royalties from oil production. That will enable her to deliver a rebate of $1,200 — in addition to $2,069 in dividends — to each resident of the state.

Source

Bloomberg spells out the cause of the current financial crisis

I will let the article from Bloomberg speak for itself, although I will mention that I echoed some of these same thoughts yesterday in RickG's blog.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

Ever wonder what a 500 carat near-flawless diamond looks like?

500 carat near-flawless diamond

Lesotho mine yields one of world's largest diamonds

Miners in the southern African kingdom of Lesotho have found one of the world's largest diamonds, a near-flawless white gem weighing nearly 500 carats, mining group Gem Diamonds said on Sunday.

The diamond was discovered in the Letseng Mine on September 8, the company said in a statement. It has been analyzed by experts in Antwerp and found to weigh 478 carats, with very few inclusions and of outstanding color and clarity.

"It has the potential to yield one of the largest flawless D color round polished diamonds in history," the company said.

Letseng is one of the most productive mines in history -- four of the world's 20 largest rough diamonds have been found at the mine, including the three largest found this century.

Before it is cut into gems it is hard to value the diamond, but a spokesman for Gem Diamonds said a similar weight stone with lesser-quality color and clarity had recently sold for $12 million (around 5.5 million pounds).

"Preliminary examination of this remarkable diamond indicates that it will yield a record breaking polished stone of the very best color and clarity," Clifford Elphick, the chief executive of Gem Diamonds, said in a statement.

The minister for natural resources in Lesotho, an impoverished mountain kingdom in eastern South Africa, praised the productivity of the mine, one of the highest in the world at more than 3,000 meters (10,000 feet).

"Once again Letseng has proved its ability to produce extraordinary diamonds and continues to place Lesotho at the forefront of diamond producing countries," Monyane Moleleki said in a statement.

Letseng is 70 percent owned by Gem Diamonds and 30 percent owned by the government of Lesotho.

The world's largest diamond is the Cullinan, discovered in South Africa in 1905. It weighed more than 3,100 carats before it was cut into more than one hundred separate gems, many of which are part of the British crown jewels.

Source

Sweet electric car!

Wow, Chevy's new Volt electric car, coming out as a 2010 model (so I guess next summer or fall), looks fantastic!

Check out the site: http://www.chevrolet.com/electriccar/

The video is really clever and fun to watch.

The car itself looks really nice, which is such a refreshing change.  I am tired of the ugly designs chosen by the Japanese automakers for their electric cars.  Why do they have to make electric cars ugly?  To hold back demand?

The Volt is designed to plug into a regular household outlet (nice!) and will go for 40 miles without a drop of gas.

The web link above has more info — check it out!

Are you confused by the Fannie Mae/Freddie Mac crisis?

Fred Thompson recently wrote a terrific overview of what this crisis is, the root cause of it, and why the entire thing is dangerous.

Here is his article, in its entirety:

The Danger of Government Guarantees

I'll bet it came as a surprise to most folks that the financial stability of the world as we know it depends upon the survival of a couple of outfits called Fannie Mae and Freddie Mac. Yet that's what the so-called experts are telling us. Moreover, we taxpayers are now being asked to guarantee Fannie and Freddie's tab, one that could make the $124 billion S&L bailout of the late 1980s look cheap.

So how did we get stuck with this bill? Well, Congress wanted to "do something" about what it saw as a "housing problem." To them that meant that they should create an even bigger problem.

So Congress passed laws that made it easier for hopeful home-buyers to buy houses ... even when they couldn't afford them. Then the Fed and other regulators helped, in the form of easy money and loose credit standards for mortgages.

Not surprisingly demand for houses grew, home prices rose, lenders financed additional questionable mortgages, fueling even higher prices and so on. You get the picture. This is called a bubble.

Then an amazing thing happened - apparently impossible to foresee. Home prices did not continue to rise forever! Home prices came down and easy money dried up, causing the above mentioned cycle to reverse. In other words, the bubble burst.

So you'd think the in-over-their-heads homebuyers and the mortgage bankers would take the hit, and the market would right itself. No reason for an international meltdown here, right?

Not so fast my friends. Years earlier Congress established Fannie and Freddie as purchasers of these mortgages, which they could bundle up, repackage and sell to investors, freeing up more mortgage money. As government creations tend to do, the two companies grew until they either owned or guaranteed about half the nation's $12 trillion dollars in mortgages.

Fannie and Fred were "government sponsored enterprises" which means heads they win, tails you lose. If they make money stockholders, creditors and Fannie and Freddie employees - some making millions annually - get the benefit. But now that mortgages have hit the skids, with mounting losses, the taxpayers potentially face trillions in exposure. This is because there is an "implicit" (read "actual") government guarantee of Fannie and Freddie's obligations and both are now too big to be allowed to fail. This is called the "bailout phase," which will probably lead to a bigger bubble in the future.

Lost in this immense, complex mess is the root problem most people are missing: the government is gradually becoming the guarantor of seemingly every important aspect of American secular life, creating incentives and bureaucracies that cause failure and invite fraud.

In Fan and Fred's case, it was in no one's interest to turn off the bubble machine. Just the opposite. The system induced borrowers to take on financial obligations they could not afford and lenders to lower lending standards. Fannie and Freddie went along because their managers' compensation depended on the firms' short term financial performance. And investors continued to buy complex security packages they didn't understand, because the securities were viewed as government-backed.

Heavy campaign contributions by those benefiting from this scheme induced Members of Congress to avert their gaze from the ugly mess that was unfolding.

You'd think we'd have learned by now: when the backstop of the federal treasury makes it easier for politicians, lenders, borrowers, welfare recipients, government contractors, or anyone else, to serve their own self interest at the expense of the taxpayer, many will do just that.

That is why we continue to see self-dealing, moral lapses, outright fraud and lack of management and oversight in a wide array of programs and government-sponsored entities, from housing to Medicare, education and the Small Business Administration, all costing taxpayers billions, even trillions of dollars.

Our Founding Fathers knew more than a little bit about human nature. It is one reason why in the Constitution, the federal government was given certain delineated powers and no others. I hate to burst another bubble, but our government simply doesn't have the authority or the capability to be the guarantor or insurer of our every need or desire. Isn't it time we started sending that message loud and clear to the big enablers in Washington?

http://townhall.com/columnists/FredThompson/2008/09/08/the_dangers_of_government_guarantees

Sarah Palin: An American Woman

Greta Van Susteren did an excellent one-hour show about Sarah Palin that aired on Sunday.

For anyone wanting to know about her background, it's the best background material I've seen.  That is most certainly because Greta is among the best investigative journalists anywhere — entirely detached and non-partisan.  Greta is always able to pull together new information from a variety of sources, because people are always glad to speak with someone who is non-partisan, as she is.

The entire show is available in 5 parts on YouTube, and I've included links below to each of the 5 parts.  (No commericals!)  Definitely worth the time to view.

It includes an absolute TON of new, very personal footage.  Lots of video taken at home with her husband and family, and lots of video of her in her mayor and city council days.  Interspersed with new interviews of Geraldine Ferraro, providing some insight on runing as a woman on a national ticket.

Sarah Palin: An American Woman

Part 1 of 5: http://www.youtube.com/watch?v=Pq4ljBIlOTY

Part 2 of 5: http://www.youtube.com/watch?v=_wzNkuCyzms

Part 3 of 5: http://www.youtube.com/watch?v=xQMEwK781yE

Part 4 of 5: http://www.youtube.com/watch?v=QBD5A126tmM

Part 5 of 5: http://www.youtube.com/watch?v=8BAk_pSXpuM

Journalism is dead

This news story shall speak for itself.

http://www.nypost.com/seven/09142008/news/politics/mac_hater_has_a_lousy_image_129007.htm

My favorite line from the Atlantic is, "We don't vet our photographers by their politics."

Um, OK, well how about vetting them by their disgusting behavior?

Matt Damon unhinged

Matt Damon on Sarah Palin:

I need to know if she really thinks Dinosaurs were here four thousand years ago; I want to know that, I really do, because she's going to have the nuclear codes.

This video is typical of the left-wing Hollywood know-nothings.  It's a great example of how these people think.  It's probably also a great example of how some of the bloggers here think.

This is the kind of crap commentary that will cause people to rally to the side of decency and common sense.

Where is Matt's wonder at Obama's sudden rise to glory?  Since Obama's rise happened with absolutely no executive experience, would it not be a better example of a "Disney movie"?

I guess Matt Damon feels comfortable ridiculing a "hockey mom".

http://www.breitbart.tv/html/171553.html

In response to Pacattack05's blog

Pacattack05 posted a video of Governor Palin that showed her when she was starting her former career as a broadcast journalist.

The implied message is, "She is nothing, has no experience, and is not qualified to be VP."

Another implication certainly must be that Obama is highly qualified, since it would not make much sense to attack Governor Palin in that manner unless the person posting the video felt they were standing on solid footing.

Here is a reality check for you.

Governor Palin is not only a highly-qualified candidate for VP, but has better credentials than the presidential candidate on the other side.

If you would like to watch a more realistic portrayal of Governor Palin, here is one that sums it up quite nicely:

http://www.youtube.com/watch?v=Obrd9uHpGRE

Update for Google Chrome Available (Already!)

For those who have installed Google's new "Chrome" (I really don't like that name) Web browser, there is already the first update available, but you may not be aware of it.

I have read about a major security flaw in the browser lately, so I was surprised when I did not see the browser "update itself" at some point.

I just happened to be poking around in the interface and noticed a small message at the bottom of the "About" window stating that an update was available.

So if you have Google Chrome, here's how to get the update:

  1. Click the button in the upper-right corner with the "wrench" symbol on it.
  2. Select "About Google Chrome" from the menu.
  3. At the bottom of the About window (to the left of the OK button) you will see a message that either states that the browser is up-to-date, or that an update is available.
  4. If an update is available, click the message to install it, and then (as it instructs) close all instances of the Chrome browser that you have open.  (After they are all closed you can re-open them.)
The new version is 0.2.149.29 (build number 1798).

McCain speech sets new record, despite being on fewer channels than Obama's

"Substance trumps hype"

Nearly 39 million people watched Republican presidential candidate John McCain's acceptance speech on the closing night of the GOP convention Thursday in St. Paul, Minn. That broke the week-old convention record of upwards of 38 million viewers set by Sen. Barack Obama only the week before.

Sen. McCain amassed an audience of 38.9 million viewers for his speech on two fewer channels than were carrying Sen. Obama's speech Aug. 28 to 38.38 million viewers, according to data from Nielsen Media Research.

In addition to the three broadcast networks and three cable news networks carrying both closing speeches, Sen. Obama's speech was carried live by BET and TV One, which target African American audiences, as well as Spanish-language Telemundo and Univision. Sen. McCain's speech was carried by Telemundo and Univision.

Sen. McCain's audience dwarfed the 25.57 million who tuned in for President Bush's acceptance speech on closing night, Sept. 4, in 2004.

http://www.tvweek.com/news/2008/09/mccain_speech_breaks_obamas_we.php