What a clear picture that is emerging. Falling crude oil prices are resulting in deflation. What does that mean to the average American? Your dollar goes farther! I’ve been saying for months that crude prices were directly related to the demise of a boisterous economy.
Now this is just speculation mind you, but I bet it’s breaking news before long. And it’s really quite simple. The banks over the last couple of years were heavily vested in energy stocks and speculated in energy exploration. In order to justify the huge investments made in exploration, more money was invested in oil futures. Every investment house in the nation was encouraging the purchase of some investment in energy, whether it were Exxon/Mobil or crude futures or funds with heavy ties to energy. Banks also speculated more in questionable mortgages. They had to spend their profits somewhere.
What the banks hadn’t anticipated was that the price per gallon at the pump would affect consumers the way that it did, nor did they imagine that companies would be affected in the production of goods, or the transportation of goods. Consumers were hit hard, not only by increased fuel prices, but increased prices on everything. In just the last 2 ½ years, a gallon of milk increased an average of 50%. Air Travel increased from 20% to 50%. Everything increased in price. So the cost of energy caused this massive inflation. Consumers who were allowed to buy in on seemingly easily obtained discounted mortgages, got hammered with substantially higher costs on everything. Interest rates increased so did adjustable rate mortgages. With the higher cost of virtually everything, then the dramatic decrease in demand, due to high prices, layoffs began to occur. Doom and Gloom were in the headlines. Spend, Borrow and Spend days were over. Banks raised consumer interest rates, in some cases beyond the allowed usury laws of many states. Defaults on mortgages were just around the corner. The very thing that banks penalize consumers for was common practice in the banking and investment industries. It’s okay for them as long as we pay the bill. Supposedly energy demand is down, this is somewhat of a fallacy. While consumer demand for fuel for personal transportation is down. The percentage is miniscule. Over all
Now the leverage game of the banks is over. Fractional reserve banking (easy money for banks) is over for the present. They can’t borrow it if they don’t have it. Banks need money to survive and they want us to foot the bill. Well the American people need money to survive and we are damn tired of footing the bill. Let these bastards fail. If were any average American, that American would be forced into bankruptcy and would have to start all over.
The U.S. Economy will recover on its own. As prices fall, demand for goods will increase. The dollar will be worth more, not only for our own goods, but abroad. Companies will re-tool, hire new employees further stimulating the economy. Homes will be bought and sold. Interest rates will rise to a fair level, the banks that were smart and survived will prosper, money will be lent. The economy will rebound more sound that it was or ever has been in recent memory.
My friend and professional journalist Imran Anwar has a sound quick start solution. You should check it out at:
Bottom line, the American people are the ones in need of the bailout. We need protection from the glutonous banks that have preyed upon the American people with deceptive practices. We need protection from our own government who has no problem mortgaging our futures to bailout their major campaign contributors. Obama has his work cut out for him. Hopefully, he will listen to mainstream America and will make a change.
Kevin Glenn
Friday, January 16, 2009
Thursday, January 15, 2009
Careful, your conservatism is showing!
As doom and gloom and economic naysayers prevail, the economic situation in the U.S. continues to be weak at best.
Now, BoFA the clown and Citi, that is nowhere on the map, want more! Let them fail! These institutions already have shown that they are totally irresponsible with the money their customers have already given them. Why would the government want poorly run organizations to continue to operate? Why would the government want to continue to spend our money on such ludicrous ideas?
The American People have had enough of this crap. What we want are jobs, stability, and the ability to pay our bills. Short term history has shown that the bailout of these mega banks and corporations has done nothing to shore up the economy and quite the reverse. Executives continue to get bonuses. There are still problems with mortgages and unemployment is continuing to rise. The great globalization plan is a failure, unless the powers that be are able to get us to the breaking point where we will accept anything.
Congress and the new Prez should sit up and take notice. A poll conducted yesterday continues to show that a solid majority of the American People do not want any more bailouts for big business. And the government should listen. Right now, there are a multitude of grass roots organizations working to provide stability within their own communities. The organizations are planning for self sufficiency and zero reliance on the Federal Government for any help. There are plans for increased community gardening and farming. Small business that cater directly to the community in which they are located. And micro economies are emerging.
A good friend of mine has a very simple way to correct this, I won't go into detail here, but you can view his idea on www.youtube.com/imrananwar. You should check it out, it makes a lot more sense than what the Feds are trying to do.
So Congress and President Elect Obama, watch out, the peoples conservatism is showing.
Friday, December 5, 2008
It's Still the Economy Stupid!
Black Friday, 2008 has come and gone. Sales were up 3% over 2007. But retailers still suffered, offering sales that cut into their bottom line. The government officially announced that the U.S. is in a recession. The Big 3 automakers showed up in Washington to plead for money sans the corporate jets. And now, crude oil is at the lowest price in 4 years.
What does this all mean for us commoners? As long as you are still employed and are paying your bills, not a hell of a lot, except to cause depression from listening day after day to the blither that comes out of mainstream media about how bleak the economic horizon is.
On the other hand, times like this are what can motivate us serfs into action. It times like this that create the new wealth in America. We have a unique opportunity to grow our potential now, and it doesn’t matter who is in the White House.
With fuel costs being so low, the cost of transportation will come down and already has for motorists. Contracts to purchase fuel by mass transit and the airlines will delay any immediate decline in pricing, but a decrease is coming. Cost of goods will come down due to decreased fuels costs to produce and get these goods to market. I recently blogged about the cost of crude oil and the correlation between fuel costs and the recent bailout. So it is absolutely pertinent that fuel costs stay low.
Now is the time to take advantage of this economy. Don’t go out and buy a ton of undervalued stock, not unless you have the money to lose. Invest in yourself. Deals abound every where and terms in a lot of instances have never been better. The smallest percentage of motivation in the American public to better themselves will do wonders for this economy. We don’t play with the wealth on paper that Wall Street plays with, ours is the real thing, we see it on payday and in our bank account and paying it out to put food on the table. Now is the time to think smart and plan for your financial future and make it happen.
What does this all mean for us commoners? As long as you are still employed and are paying your bills, not a hell of a lot, except to cause depression from listening day after day to the blither that comes out of mainstream media about how bleak the economic horizon is.
On the other hand, times like this are what can motivate us serfs into action. It times like this that create the new wealth in America. We have a unique opportunity to grow our potential now, and it doesn’t matter who is in the White House.
With fuel costs being so low, the cost of transportation will come down and already has for motorists. Contracts to purchase fuel by mass transit and the airlines will delay any immediate decline in pricing, but a decrease is coming. Cost of goods will come down due to decreased fuels costs to produce and get these goods to market. I recently blogged about the cost of crude oil and the correlation between fuel costs and the recent bailout. So it is absolutely pertinent that fuel costs stay low.
Now is the time to take advantage of this economy. Don’t go out and buy a ton of undervalued stock, not unless you have the money to lose. Invest in yourself. Deals abound every where and terms in a lot of instances have never been better. The smallest percentage of motivation in the American public to better themselves will do wonders for this economy. We don’t play with the wealth on paper that Wall Street plays with, ours is the real thing, we see it on payday and in our bank account and paying it out to put food on the table. Now is the time to think smart and plan for your financial future and make it happen.
Thursday, November 13, 2008
Natural Selection! People are Idiots! TV Shows!
Natural Selection! People are Idiots! TV Shows!
Okay, the election is over and we can move on to more mundane topics. Like the economy. You may or may not have read my last blog on the cost of energy, but have you noticed that gas is at a price not seen for about 3 years. This is a good thing!
Yesterday in a town not far from where I live, a 17 year old girl was entering her high school to have a 14 year old boy, walked up behind her and slit her throat. The latest is that the young lady is in serious condition and the boy is in protective custody. Now this young man has had troubles in the past, it was suggested that he be given counseling and be treated for various psychological ailments, but in the infinite wisdom of the state; he was not treated because it would have been too traumatic. So now we have a young woman, who has been forever scarred both physically and mentally. Chances are, if this young man had been born 100 years ago, he would not have survived child birth. Why???
How many times have we heard that this person or that person, had they been intercepted by law enforcement, or had the judiciary not provided leniency, this next heinous crime would have not been committed? Natural Selection???? We demand it in nature. The World Wildlife Fund demands it of all countries. If a fawn is abandoned by its mother, it can receive no help, it must die. You cannot have a double standard and say that you are one political persuasion or another. If the same applies to the fawn, the same should apply to the throat slitter.
Cost of energy. It is paramount that we maintain our self restrictive purchases of fuel. Demand has to remain low. We cannot continue to line the wallets of OPEC and Big Oil. Our economy will grow on lower energy costs. Please refer to my earlier blog. Can’t figure it out, get a calculator. Geesh!
We are victims of our own device. We need instant gratification. It has to happen now. We need the new plasma TV, our neighbor has the better car, house, spouse, why don’t we???. We have become less self sufficient and more interdependent. We have allowed ourselves to be lulled into the dream of being able to have anything we can, through the most convenient mathematical equation we can afford. Are we idiots???
Television!?! I’ve been a producer primarily in the late ‘80’s and recently. On cable TV content makes me want to puke. I am so tired of watching the same program over and over again. I turn on any cable network channel and can watch the same show at 8 and 10, and then again on the next day and probably the next and an encore showing on Saturday and Sunday. Certain producers get so far up the ass of network big wigs that they are the only ones who get their programs viewed. The very thing that these network big wigs bitch about in politics, they are committing within their organizations. They come up with a couple of good anchor shows and hope the rest of the crap will carry the audience. CNN is by far the worst network newscast available, but they have the highest ratings, according to their stats. Larry King and Lou Dobbs are the ruling shows on CNN, everything else is crap. And CNN gets the carryover audience. It’s not only network news, but virtually every other cable network out there. TV has become stagnant. Much like our economy, TV execs have become accustomed to the norm, their norm. TV has to be cutting edge, it has to be entertaining, it has to be more than re-runs. Take a chance on new producers. It doesn’t cost as much as they network execs says that it does. If the show bombs, okay, but don’t stop. We are tired of watching the same crap over and over again. I have a piece with a network that was supposed to air in April, but it is still on hold. I have three pilots in the can, but who is interested? If you could keep on showing the same piece on Will Rogers and maintained a .05 rating and selling advertising on that viewership, does it make good economic sense? Or does showing a new pilot that may pull in a .10, and result in possibly bring in more revenue make sense? Again, Natural Selection. It’s not who you know, it’s who you blow!
People need to get real. What affects you on a day to day basis? What are you responsible for? What are you willing to tolerate? Does it make sense to put up with crap? Are you going to be apathetic, or are you going to be proactive? What has your community done for you!?! Or should it be, what have you done for your community?
Okay, the election is over and we can move on to more mundane topics. Like the economy. You may or may not have read my last blog on the cost of energy, but have you noticed that gas is at a price not seen for about 3 years. This is a good thing!
Yesterday in a town not far from where I live, a 17 year old girl was entering her high school to have a 14 year old boy, walked up behind her and slit her throat. The latest is that the young lady is in serious condition and the boy is in protective custody. Now this young man has had troubles in the past, it was suggested that he be given counseling and be treated for various psychological ailments, but in the infinite wisdom of the state; he was not treated because it would have been too traumatic. So now we have a young woman, who has been forever scarred both physically and mentally. Chances are, if this young man had been born 100 years ago, he would not have survived child birth. Why???
How many times have we heard that this person or that person, had they been intercepted by law enforcement, or had the judiciary not provided leniency, this next heinous crime would have not been committed? Natural Selection???? We demand it in nature. The World Wildlife Fund demands it of all countries. If a fawn is abandoned by its mother, it can receive no help, it must die. You cannot have a double standard and say that you are one political persuasion or another. If the same applies to the fawn, the same should apply to the throat slitter.
Cost of energy. It is paramount that we maintain our self restrictive purchases of fuel. Demand has to remain low. We cannot continue to line the wallets of OPEC and Big Oil. Our economy will grow on lower energy costs. Please refer to my earlier blog. Can’t figure it out, get a calculator. Geesh!
We are victims of our own device. We need instant gratification. It has to happen now. We need the new plasma TV, our neighbor has the better car, house, spouse, why don’t we???. We have become less self sufficient and more interdependent. We have allowed ourselves to be lulled into the dream of being able to have anything we can, through the most convenient mathematical equation we can afford. Are we idiots???
Television!?! I’ve been a producer primarily in the late ‘80’s and recently. On cable TV content makes me want to puke. I am so tired of watching the same program over and over again. I turn on any cable network channel and can watch the same show at 8 and 10, and then again on the next day and probably the next and an encore showing on Saturday and Sunday. Certain producers get so far up the ass of network big wigs that they are the only ones who get their programs viewed. The very thing that these network big wigs bitch about in politics, they are committing within their organizations. They come up with a couple of good anchor shows and hope the rest of the crap will carry the audience. CNN is by far the worst network newscast available, but they have the highest ratings, according to their stats. Larry King and Lou Dobbs are the ruling shows on CNN, everything else is crap. And CNN gets the carryover audience. It’s not only network news, but virtually every other cable network out there. TV has become stagnant. Much like our economy, TV execs have become accustomed to the norm, their norm. TV has to be cutting edge, it has to be entertaining, it has to be more than re-runs. Take a chance on new producers. It doesn’t cost as much as they network execs says that it does. If the show bombs, okay, but don’t stop. We are tired of watching the same crap over and over again. I have a piece with a network that was supposed to air in April, but it is still on hold. I have three pilots in the can, but who is interested? If you could keep on showing the same piece on Will Rogers and maintained a .05 rating and selling advertising on that viewership, does it make good economic sense? Or does showing a new pilot that may pull in a .10, and result in possibly bring in more revenue make sense? Again, Natural Selection. It’s not who you know, it’s who you blow!
People need to get real. What affects you on a day to day basis? What are you responsible for? What are you willing to tolerate? Does it make sense to put up with crap? Are you going to be apathetic, or are you going to be proactive? What has your community done for you!?! Or should it be, what have you done for your community?
Friday, October 24, 2008
What Cheaper Crude Means For Us!
OPEC (Organization of Petroleum Exporting Countries) has announced that it is slashing production of crude by 1.5 million barrels per day, beginning in November, in an effort to prop up a declining market. Crude is down over 50% from an all time high of over $147.00 per barrel in July of this year. A crude oil barrel is 42 U.S. Gallons. The greed of OPEC and Big Oil is evident in this latest move.
But what does lower crude prices mean for you? It means that in this declining economy your dollar at the pump goes further. It means maybe buying a chuck roast instead of hamburger. It means more money flowing into the economy. I've been saying for over 2 years now that the high oil prices would have a devastating effect on the economy worldwide and look what has happened! I blame the greed of OPEC, Big Oil and the failure of government worldwide to stem the tide of this greed as the key to our economic calamity.
Let's do the math. If you, average American, commute to work and you spent $40.00 (assuming a gas price of $4.00/gallon), 3 days per week for fuel, your weekly expenditure is $120.00. Multiply this by 52, which is $6240.00 per year. Now at the current market price of crude gas should be around $2.00 per gallon, so in the same period of time, at the lower price you spend half, $3,120. Now, let's assume that 50 million drivers in the U.S. see this savings. That's $156 Billion per year. Wow! What kind of economic stimulus is that! Now let's take it a step further, assuming that remaining 150 million Americans (not counting 100 million of the population to be conservative) who travel, drive and commute, experience a savings of 1/3 this amount $1040.00, you again have $156 Billion, times 2 equals $312 Billion. Almost half of the recent Emergency Bailout. Now take into account, all forms of transportation, reduction of cost of goods sold and generation of electricity is another savings of nearly $700 Billion per year, for a total of $1.012 Trillion annually. Again, Wow! That's $300 Billion more than the Bailout. Oh, and by the way, the average amount owed when a home mortgage goes into default is about $3,100.00.
DO THE MATH!
What we can do, is continue to conserve, make one trip count for many, put on an extra sweater and turn down your thermostat, get with friends and neighbors and carpool or rideshare for everything from going to work to going to the grocery. We can and must keep energy prices down. This is the one key thing we, as consumers, can do on our own to help bring back our economy.
One quick example, there is a fellow I know, who owns a local company that supports oil and gas activity. He employs 43 people not including himself. He has 30 vehicles from big trucks down to pickups, and other equipment that either runs on gas or diesel. In July his average daily fuel bill was nearly $4,000. DAILY! Now it's nearly half that. Which is a savings of nearly 3/4 of a million dollars per year. One small company, think of the new jobs, new investment in equipment and it goes on and on. How has high fuel prices affected you?
But what does lower crude prices mean for you? It means that in this declining economy your dollar at the pump goes further. It means maybe buying a chuck roast instead of hamburger. It means more money flowing into the economy. I've been saying for over 2 years now that the high oil prices would have a devastating effect on the economy worldwide and look what has happened! I blame the greed of OPEC, Big Oil and the failure of government worldwide to stem the tide of this greed as the key to our economic calamity.
Let's do the math. If you, average American, commute to work and you spent $40.00 (assuming a gas price of $4.00/gallon), 3 days per week for fuel, your weekly expenditure is $120.00. Multiply this by 52, which is $6240.00 per year. Now at the current market price of crude gas should be around $2.00 per gallon, so in the same period of time, at the lower price you spend half, $3,120. Now, let's assume that 50 million drivers in the U.S. see this savings. That's $156 Billion per year. Wow! What kind of economic stimulus is that! Now let's take it a step further, assuming that remaining 150 million Americans (not counting 100 million of the population to be conservative) who travel, drive and commute, experience a savings of 1/3 this amount $1040.00, you again have $156 Billion, times 2 equals $312 Billion. Almost half of the recent Emergency Bailout. Now take into account, all forms of transportation, reduction of cost of goods sold and generation of electricity is another savings of nearly $700 Billion per year, for a total of $1.012 Trillion annually. Again, Wow! That's $300 Billion more than the Bailout. Oh, and by the way, the average amount owed when a home mortgage goes into default is about $3,100.00.
DO THE MATH!
What we can do, is continue to conserve, make one trip count for many, put on an extra sweater and turn down your thermostat, get with friends and neighbors and carpool or rideshare for everything from going to work to going to the grocery. We can and must keep energy prices down. This is the one key thing we, as consumers, can do on our own to help bring back our economy.
One quick example, there is a fellow I know, who owns a local company that supports oil and gas activity. He employs 43 people not including himself. He has 30 vehicles from big trucks down to pickups, and other equipment that either runs on gas or diesel. In July his average daily fuel bill was nearly $4,000. DAILY! Now it's nearly half that. Which is a savings of nearly 3/4 of a million dollars per year. One small company, think of the new jobs, new investment in equipment and it goes on and on. How has high fuel prices affected you?
Thursday, October 23, 2008
Oh My God!
OMG! What a crock of sh$t. Check out this lame excuse of Hollywood trying to endorse Obama.
How pathetic is this?!?
http://news.yahoo.com/s/ynews/20081023/pl_ynews/ynews_pl108
How pathetic is this?!?
http://news.yahoo.com/s/ynews/20081023/pl_ynews/ynews_pl108
Wednesday, October 22, 2008
Biden thinks Obama not ready to lead.
Vice Presidential Democratic nominee Joe Biden, in a recent statement stated that Obama, because of his inexperience, will be tested through a major international crisis. What is Senator Biden suggesting? Something that we've known all along, that Barrack Obama is just a silver tongued politician who has wooed a lot of fellow Americans in to believeing that he is just the change that is needed.
And where is the media outcry against Biden? If this were Sarah Palin, it would be everywhere!
Joe Biden is not comfortable with the situation he is in. He does not want to have his political career to be forever branded as the almost won, second is as good as first, much like Kennedy - Johnson. Nor does he want to be involved in an international situation gone bad that will brand him like a spring calf for all history. Which brings to mind this question, "what does Joe know, that we don't"?
Why is Obama, suddenly meeting with his foreign advisers, is something in the works. Wow, could be great for conspiracy theorists! Joe Biden has made the prediction, if something does happen at a crisis level, should Biden be charged as an accomplice, did he have prior knowledge, were there other conspirators? Or will the Democratic Congress and White House (should Obama win) blame the Republicans for something that is totally out of their control. For now only the future can tell.
Biden Statement on NPR: http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=95924776&m=95924755
And where is the media outcry against Biden? If this were Sarah Palin, it would be everywhere!
Joe Biden is not comfortable with the situation he is in. He does not want to have his political career to be forever branded as the almost won, second is as good as first, much like Kennedy - Johnson. Nor does he want to be involved in an international situation gone bad that will brand him like a spring calf for all history. Which brings to mind this question, "what does Joe know, that we don't"?
Why is Obama, suddenly meeting with his foreign advisers, is something in the works. Wow, could be great for conspiracy theorists! Joe Biden has made the prediction, if something does happen at a crisis level, should Biden be charged as an accomplice, did he have prior knowledge, were there other conspirators? Or will the Democratic Congress and White House (should Obama win) blame the Republicans for something that is totally out of their control. For now only the future can tell.
Biden Statement on NPR: http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=95924776&m=95924755
Biden Photo Courtesy of:
Ed Andrieski
Caption -->Democratic vice presidential candidate, Sen. Joe Biden, D-Del., addresses a rally at the University of Northern Colorado in Greeley, Colo., on Tuesday, Oct. 21, 2008. (AP Photo/Ed Andrieski)
Date -->2008-10-21 00:00:00
Ed Andrieski
Caption -->Democratic vice presidential candidate, Sen. Joe Biden, D-Del., addresses a rally at the University of Northern Colorado in Greeley, Colo., on Tuesday, Oct. 21, 2008. (AP Photo/Ed Andrieski)
Date -->2008-10-21 00:00:00
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