Do you still blame The People?

I woke up this morning to continue my seemingly endless pursuit of a career and saw this article.

The article explains that Freddie Mac hired a Republican consulting firm to kill a bill (by influencing 13 Republican Senators) that would have called for more regulation of Banks and Wall Street. 

Fuck! And we just wrote a check to these fuckers!

Economic Data Today. . .

Here's a picture showing some of our country's fundamentals (data released 10-16-08)...Notice the unemployment claims (number of people filing for unemployment insurance for the first time last week). 

The fundamentals of our economy are strong- John McCain

Ha!

Largest Percentage Gains on the Dow...

Biggest Percentage Gains

March 15, 1933: 8.26 points, or 15.34 percent, to 62.10

Oct. 6, 1931: 12.86, or 14.87 percent, to 99.34

Oct. 30, 1929: 28.40, or 12.34 percent, to 258.47

Sept. 21, 1932: 7.67, or 11.36 percent, to 75.16

Oct. 13, 2008: 936.42, or 11.08 percent, to 9,387.61

Oct. 21, 1987: 186.84, or 10.15 percent, to 2,027.85

Aug. 3, 1932: 5.06, or 9.52 percent, to 57.22

Feb. 11, 1932: 6.80, or 9.47 percent, to 78.60

Nov. 14, 1929: 18.59, or 9.36 percent, to 217.28

Dec. 18, 1931: 6.90, or 9.35 percent, to 80.69.


8 out of 10 of the largest percentage gains were during the Great Depression!

A note on the economy. . .

Our former Fed-Chair NOW says we've entered into a recession! Hmm, I've been in recession for a long ass time!

I spend a lot of time watching CNBC, I trade Forex and have done so for quite some time now. I have to say that I am really worried about this economic situation. First, let me say that I was opposed to the bailout- $700 Billion to bail out banks when our economy is super-crappy? Come on, really?

After approving the bailout, Wall Street had a REALLY bad week closing on Friday around 8400 (after dipping down into the 7600 range for a minute). That's scary! So, what did our Federal Reserve do? They cut interest rates (yet again!) 0.5% to 1.5%. Okay. They also created an institution to buy up debt of banks to increase liquidity in lending. Hmmm. Okay. They've also announced today measures to spend $250 Billion dollars in capital injection into the banks, and have increased the FDIC account limit to $250,000 (just shy of meeting inflation requirements since FDIC incorporation post-Great Depression).

Okay. So, after the stock market sorta-crashed last week, on Monday, the stock market rose 936 points (an all-time one-day POINT increase record). Awesome. But what does that mean for us? Mental Note- 6 out of 10 of the LARGEST percentage gains happened DURING the Great Depression.

(1) Commodities will increase- oil for example, that was down to $76/barrel and gas at $3/gallon will go back up (an has started to do so- even with low demand). Natural Gas, Copper, wheat, etc...will continue to increase! awesome for our pocket books in the short term!

(2) The value of the US dollar will decrease against major currencies like the Euro (especially when oil goes up) make YOUR dollar unable to go as far as it once did. The dollar may look strong now, but let me say the only reason our Dollar is doing well against the Euro now (1.36 Euro= 1 dollar) is because Europe's economy sucks too.

(3) Our individual tax-debt will continue to go up...the cost per hosuehold is now $483,000 for the national debt plus this bailout.

(4) The bailout allows Wall Street to Sell into Rallies...that is when the Dow increases, Traders sell to make a profit on their way out...That will start happening this week (and definitely happened last week...)

So, inflation increases, your dollar doesn't go far, your personal debt goes up and let's not forget that EVEN WITH THE BAILOUT unemployment is INCREASING and the HOUSING CRISIS is not being resolved...That's right, capital injections to increase liquidity do not erase bad housing debt...

It doesn't make a whole lot of sense to me...Bail out the banks by stealing from the poor...

Something is wrong here...

I hope if someone out there has a better understanding of this economic situation they will share it with me...I really don't see how this economic plan RESOLVES any issues...I see it as (ANOTHER) bandaid...just covering up the problem...

And now our government is considering another STIMULUS package for us? As if giving us $600, and another $1000 will make us forget that you just made us give $2500 to banks?!?!

The unfortunate thing here is that I don't have any solutions...I see letting the economy fall apart as the 'smartest' long-term option...It keeps the power on OUR side (the People's side), and though it will hurt, it provides us with the opportunity to re-build...

Solving a credit crisis by allowing bad banks to give out more bad credit is NOT a solution...it's FUBAR!

Good luck to everyone!

Hammer

P.S. the Dow just turned Negative again!

Gas. . .

I have a question...maybe someone can answer this for me...

When I moved back to the US in early 2008, gas was $2.25/gallon or around $90.00/barrel.
When oil went up to $140.00/barrel, gas was $4.25...

Why then, when oil is around $88.00/barrel (this week) is gas still $3.50?

Inflation? Oil companies selling off their "expensive" oil before they start buying the cheap stuff?

If our reserves were low, the futures would be going up (and the USD value would be going down compared to the Euro)...why is gas still so damn expensive?

Maybe we're just used to the prices now?

Hmmm...

Speaking Engagement

I will be presenting a talk at the University of St. Francis on Single Issue Politics and my evolution from political cheerleader to activist...it should be interesting.

The University of St. Francis is located in Joliet, IL.

Vice Presidential Debate Night. . .

Hello my fellow St. Louisans...

Today is a (another?) sad day for the People of our Country. Tonight, at 5pm, I went to a Rally and March to the gates of the VP Debate at Washington University in St. Louis. We met at Northmoor park, set amongst the mansions whose owners WERE invited to the debate. Standing in that park, surrounded by wealth, we, the people, heard from several of our brothers and sisters: a man whose daughter was raped and murdered by the US Military in Iraq- while serving her country; a representative from the School Board with no access to money to educate; a woman who lost her home (foreclosure!), and a woman struggling with cancer who had no healthcare.

We met at Northmoor to organize the march  up the street to the barricaded debate. A debate in which our voices should have been heard. We did this because we, as Americans, wanted to inject some DEBATE (over REAL issues) into the theatrical spectacle that will occur shortly (8pm-CST). We were denied entry into the debate. The people who had real issues with government were DENIED entry into a debate. The voice OF THE PEOPLE was rejected from the debate. 

Our country is in a sad state my friends. Our government, held hostage by greedy bankers, will soon be passing a bill that bail's out executives who have raped our brothers, sisters, neighbors, families, and friends. The disparity between the rich and poor is growing stronger every day. The rights that were once promised to us all- the pursuit of Happiness, Life, Liberty-  are all being sold. Our voices are muted. Our consciences silenced by those that are meant to act based on our collective conscience. Our government is too strong, my people. Our government is too large. We have no education. We have no healthcare. We have no homes. We have no money. What will they take next? Our voices? Our will? Our Humanity? No. No. No.

My people, our voices must be heard. Not through voting. Voting selects a leader that will continue to propagate a government that represses us. Our voices will be heard through civil disobedience.

From today, I vow the following:

No longer will I be standing on the sidelines watching as my life is sold.

No longer will I silence my conscience in hopes that my representatives in Congress will speak for me. 

No longer will I fund war, torture, bad business, and repression.

No longer will I participate in a government that doesn't recognize me as a citizen- deserving equal rights and access to benefits.

My people, I am infuriated, but in my anger I've found direction. I've found my conscience.  I've found the voice that I know resonates within all of you. Look within yourselves and act based on your conscience. Let us move forward in solidarity and take back our country.

In struggle and hope,

Hammer.