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THE ECONOMIC PHILOSOPHY OF GERALD SPENCER
The US International Trade
Deficit must be corrected by any means possible! This is the basic structural
economic foundation problem that will destroy the US economy.
The USA is losing the Economic
War! The USA must re-industrialize, or become a third world nation of mostly
unemployed beggars.
The USA has lost the World
Technology Leadership! The USA must change the emphasis of our education systems
back to technology and science if the USA wants to compete in the technology
competition.
The USA is Bankrupt! Instead of
redeeming our freshly printed US dollars and other currency with gold, the US
government is allowing these freshly printed US T-Bills, Bonds, or other
Securities to be redeemed for title to privately owned businesses, factories,
casinos, hotels, farms, land,
ports, breweries,
refineries, forests,
ports, breweries,
refineries, and other
privately owned
assets located in the USA that were created by previous US generations to
foreigners in order to pay foreigners to manufacture our imported products that
we consume, rather than have US citizens work to produce the things that we
consume (and also to pay for growing US government expenses that are in excess
of our federal tax collections).
When the USA has no more
privately owned land, hotels, farms, businesses, casinos and other assets to
sell to foreigners in industrial countries in return for freshly printed US
T-Bills, Bonds, or other Securities, those foreigners will not buy any more of
our freshly printed US T-Bills, Bonds, or other Securities. Foreign
manufacturers will then stop accepting US dollars for the consumer products that
we continue to import. The US government will then not be able to sell any US
T-Bills, Bonds, or other Securities to raise US dollars from these foreign
manufacturers to pay for our US government expenses and/or our imported consumer
products.
The USA is Committing Economic
Suicide! The USA will become a third world nation when our US dollar loses all
of its purchasing value.
BY
Gerald Roy Spencer,
Professional Engineer
President, Spencer Engineers, Inc.
4635 Southwest Freeway - Suite 900
Houston, Texas 77027-7139
www.spencerae.com
gspencer@spencerae.com
1-800-383-9685
713-621-2482
INDEX
CHAPTER 1........... BASIC
ECONOMIC PRINCIPLES.................................................. 3
CHAPTER 2........... SUPPORT
REQUIRED FOR GENERATING ECONOMIC
WEALTH.............................................................................................
4
CHAPTER 3........... US
ECONOMIC
POLICY.................................................................. 5
CHAPTER 4........... US
FOREIGN TRADE DEFICIT....................................................... 6
CHAPTER 5........... US
GOVERNMENT SPENDING DEFICIT...................................... 6
CHAPTER 6........... THE USA
IS COMMITTING ECONOMIC SUICIDE....................... 9
CHAPTER 7........... FREE
TRADE...................................................................................
11
CHAPTER 8........... CAN THE
US ECONOMY BE SAVED?......................................... 12
CHAPTER 9...........
SCIENTIFIC & TECHNOLOGY EDUCATION OPTION............... 13
CHAPTER 10.........CHINA IS
WINNING THE WAR FOR SCIENTIFIC AND
TECHNICAL
SUPERIORITY............................................................ 14
CHAPTER 11.........THE USA
NEEDS SCIENTIFIC AND TECHNICALLY EDUCATED
CITIZENS
..........................................................................................
15
CHAPTER 12.........KNOWLEDGE
WORKERS IN A POST INDUSTRIAL
SOCIETY............................................................................................
17
CHAPTER 13......... US
ECONOMIC FUTURE................................................................
19
CHAPTER 14......... US
ECONOMIC STIMULATION PLAN.......................................... 20
CHAPTER 15......... SPENCER'S
US ECONOMIC STIMULATION PLAN................... 21
CHAPTER 16......... DID
FOREIGNERS CREATE THIS DISASTER?.......................... 21
CHAPTER 17......... FORECASTS
OF FUTURE CIVIL UNREST.................................. 22
CHAPTER 18......... FUTURE US
DOLLAR BUYING POWER....................................... 23
CHAPTER 19......... HOW CAN
THE USA RE-INDUSTRIALIZE NOW?........................ 24
CHAPTER 20......... US
FINANCIAL PRODUCTS........................................................... 25
CHAPTER 21......... US
FINANCIAL BUSINESS FUTURE............................................. 28
CHAPTER 22......... HOME
MORTGAGES......................................................................
28
CHAPTER 23......... US
ECONOMIC FUTURE................................................................
29
CHAPTER 24......... US
POLITICAL LEADERS..............................................................
30
CHAPTER 25......... US TRADE
BALANCE
CORRECTION...........................................
31
CHAPTER 26.........
INTERNATIONAL INFLUENCE.......................................................
32
CHAPTER 27......... IF GOD
DOES EXIST, HE WILL NOT SAVE USA.....................,.. 32
CHAPTER 28......... US
ECONOMIC TRADE POLICY.................................................... 33
CHAPTER 29......... NATIONAL
SALES TAX................................................................... 34
CHAPTER 31.........
GENERAL MOTORS
BAILOUT
...................................................... 36
CHAPTER 32......... FUNDING
FOR RE-INDUSTRIALIZATION AND FOR THE RE-.... 37
CREATION OF A TECHNICALLY QUALIFIED US CITIZEN
DATABASE
CHAPTER 33......... IS GREED
GOOD OR BAD?............................................................ 37
CHAPTER 1
BASIC ECONOMIC PRINCIPLES
1.
Economics, Trade Deficit, Government Spending Deficit, Jobs for
Americans, and the Buying Power or value of the US Dollar are all interrelated.
Each of these principles affect each of the others, and each is very important.
These subjects need to be understood by the General Public. Economics is not
that complicated. It is interlocked with understandable cause and affect
principals of various economic action options that can be totally understood by
almost any High School Graduate, and/or most High School Drop outs.
1.1.
Real wealth and real monetary value is created and/or acquired ONLY when
the members of a family (or a nation, tribe, city-state, etc.) plant, grow
and/or harvest something of commercial value from the earth, extract something
of commercial value from the earth, provide professional services (medical,
legal, dental, engineering, architecture, accounting, land surveying,
technology, etc.) to others outside of that family, and/or manufactures or
constructs something of commercial value that is consumable (or permanently
useful for income or rent) and then SELLS, LEASES OR RENTS these items and/or
services to parties outside of their family, IN RETURN FOR A NET TRANSFER OF
GOLD, CURRENCY OR COMMODITIES from other
parties outside of their family into their own family. The members of that
family can reflect their real wealth with the accumulation of grain, gold,
cattle, jewels, land, buildings, commodities and/or other marketable products
for reserve use in times of emergency and/or also to raise the standard of
living for the members of that family.
1.2.
The US economy is a closed economic system that is defined by the area
under control of our US government law.
1.3.
The US Government only has $11B of gold left in Ft. Knox according to the
AP Dec. 21, 2009, 3:44PM, and the US government is continuously allowing our
freshly printed US T-Bills, US Bonds, or other Securities to be redeemed by
purchasing privately owned land, hotels, farms, businesses, casinos and other
assets located in the USA that were created by previous generations of US
citizens, before the de-industrialization of the USA.
1.4.
The value of the outstanding US debt of 12Trillion in Bonds and T-bills
plus $829B in currency equals very little buying power of the US dollar if
foreign nations stopped buying our freshly printed US T-Bills, US Bonds, or
other US Securities and/or wanted the US government to redeem our currency in
gold (just like other nations).
1.5.
Did the Biblical Jacob squander his assets unwisely and then became
hungry when a famine occurred? Did Jacob sacrifice all of his cattle to his god?
Or sell his assets for food & wine to have a bunch of parties? Did Jacob burn
his tents, grain and other assets as sacrifice to his god? When the Jacob's
family faced starvation, Jacob took his family to Egypt where there was grain
stored and hoarded by the greedy Egyptians to insure the survival of Egyptians
during times of drought and famine. Jacob and his descendants probably submitted
themselves to be slaves of the Egyptians in return for food and shelter. Is the
US government repeating these actions?
1.6.
Any
family, tribe, country, etc. and its individual members can prosper or become
debt ridden in accordance with their industrial behavior, government spending
behavior, and/or other economic actions of the leaders of that family.
1.7.
If any family or nation purchased imported things from outside of their
family of less monetary value than the monetary (or otherwise useful value) of
the items that they sold and exported to others outside of their family, then
that family would have a net positive foreign trade balance of gold, grain,
cattle, etc. into that family. Only a net positive foreign trade balance will
increase the value of the accumulated real wealth of privately owned assets
within that family.
1.8.
People working together in an organized fashion are generally more
productive than individuals working alone. An extended family will live better
than a nuclear family. A tribe will live better than an extended family. A
nation will live better than a tribe, until the tribe or nation's leaders decide
to spend the resources unwisely. The US government has decided to spend the US
national wealth unwisely for the past few decades.
1.9.
The USA government economic policies, environmental regulations, trade
policies, free trade policies, labor costs and other recent factors have caused
our wealth generating factories to close. These factory closings have caused the
lay off US workers for labor cost savings. Anticipated future environmental
regulations have also caused US companies to close and leave the USA.
1.10.
Transportation, distribution, warehousing, tax collection, sales,
marketing, delivery, packaging and other similar services provided within that
family (or an organization, tribe, country, etc.) are necessary to enable and
support the original creation of wealth by the basic productive efforts within
in that country. These costs are added to the cost of the product that was
initially created by other basic productive efforts within in that country.
These services are necessary for the export of locally made products to foreign
countries in return for foreign exchange and to distribute goods within that
family. These and other similar services provided for distributing and sale of
imported products just stir the economic pot and assist the US importers of
imported products that send US dollars to overseas manufacturers.
1.11.
Consumer spending (consumer confidence) with credit cards is a symptom of
economic well-being, not the cause of any economic recovery. The population
needs to be employed and able to support their families for economic and
political stability.
1.12.
US Government jobs such as police, teachers, military, finance, social
services, social security, welfare, environmental and other bureaucratic jobs
generally do not produce any of the food, shelter, and clothing required to
sustain life of the citizens who produce the necessities of life, and who are
usually taxed to pay the government employee salaries. Most of these government
jobs are needed to support and protect the citizens that do produce the things
that we need to survive. A lot of these US government jobs could be eliminated.
The communist form of government where everybody works for the government
because the government owns everything does produce the food, shelter, and
clothing required to sustain life. Most of the individuals in communist
countries want to work at something other than producing the basic food,
shelter, clothing and other products required to sustain life. They usually
become a nation of non-producers wanting the disgruntled producers to produce
more and more so that privileged individuals of the elite can keep themselves
busy as musicians, poets, social workers, philosophers, historians, politicians,
bureaucrats, administrators, etc. The elite will then let, require, and/or force
those that the elite have deemed lower class to work and produce the food,
shelter, and clothing required to sustain the life of the nation including the
elite class of the government employees.
1.13.
Without businesses and corporations providing jobs, all US citizens would have
to live off of the land.
Most of the jobs in the USA
are and were created by publically held corporations and private businesses. You
could study hard, work hard, and then start your own corporation (or business)
as I did in 1968. The corporation or business does not owe any employee anything
beyond what the employee contracted with that business to do for the money that
the employee agreed to receive in return for the employee's work.
1.14.
US Businesses must now relocate their manufacturing plants and/or
outsource labor expenditures to lower employee wage countries as much as
possible since they have to satisfy the US consumer's demand for the very lowest
price possible for each of the US consumer's purchases, or the company will
become bankrupt by paying decent wages to US citizens. If a business does not
outsource their labor costs overseas, then their competitors will and this will
cause the company utilizing US labor to become bankrupt due to high production
costs.
1.15.
The businesses across this nation are creating jobs, but these new jobs
are located in foreign nations because of the US government trade laws and the
US environmental laws that were created by both major political parties that
make creating jobs in the USA un-economical. Labor and environmental costs are
almost always much less expensive in foreign nations due to the US government
trade and environmental laws. US citizens elected the congressmen and senators
who voted for these laws that generally did not exist several decades ago when
the USA was a successful industrial giant. Both major parties are in favor the
free trade and environmental legislation, which has destroyed US, industries and
the industrial employment opportunities for the average US working person.
1.16.
I do not know what the Prohibition Party's position is on this issue, or
even if that party still exists, But I would even give up alcohol consumption
and join the Prohibition Party if they would re-industrialize the USA.
1.17.
I
would consider joining the Green Party, except that they want an even cleaner
environment which means closing down complete industries and then exporting more
of the few remaining US jobs to overseas countries where the environmental costs
are less expensive. We must somehow repeal existing free trade legislation (and
environmental laws) in order to re-industrialize and reverse the balance of
trade if we desire to somehow employ US citizens instead of foreigners to
manufacture the things that we consume.
1.18.
Foreign trade balance will accumulate wealth if it is positive, or create
poverty if it is negative for any family, for the USA, and/or for any other
organization, tribe, nation, etc.
CHAPTER 2
SUPPORT REQUIRED FOR
GENERATING ECONOMIC WEALTH
2.
Many Other Services are required to support the Agriculture, Mining,
Technology, Construction and Industrial Production members of a family, tribe or
nation. Civilized nations have always taxed the productive
(agricultural and industrial) population to pay for National Security, Armed
Forces, Crime Prevention, Police, Fire Protection, and other similar items that
assist, support and protect and prevent interruption of the agricultural and the
industrial production bases that supplied the things that the entire population
consumed.
2.1.
Industrial and Agricultural Bases could not exist with foreign invasion,
crime, protection rackets, corruption, sabotage, etc., disrupting the
production. A portion of the money earned by this producing base has always been
taken by taxation to pay for governments to prevent these occurrences that would
otherwise interrupt the production of the things that the citizens need to
sustain civilized life.
2.2.
The USA can no longer afford to spend these hard earned taxes and
borrowed money on National Service, social entitlements, welfare, environmental
clean-ups, digging holes then re-filling the same holes, pork barrel projects,
free educations, free medicine, subsidized housing, humanities, art, music,
writing poems, make-work schemes, entertainment, etc., and/or similar things
that does not contribute positively to our economy. These things are nice but
the USA cannot afford these expenses until we re-establish our economic
strength. These things take tax money and employ people to do things that do not
accumulate wealth for the family, tribe, or nation.
CHAPTER 3
US ECONOMIC POLICY
3.
The USA has almost entirely ceased to generate wealth for future US
generations. Instead the USA has elected to sell or export
our wealth,
including title to
privately owned businesses, factories, casinos, hotels, farms, land,
ports, businesses,
refineries, forests,
ports,
breweries, refineries,
and other privately owned
assets located in the USA that were created by previous US generations
in order to pay
people in foreign countries to manufacture the things that US citizens consume,
and also to pay for expanded US government expenses when the expenses exceed the
taxes raised by the government.
The US government is even
selling our children's means of creating future wealth, in order to pay for the
imported products that US citizens consume, and also to pay for US government
expenses that are in excess of the US government tax collections.
3.1.
The US government does not really borrow money to pay for its expenses.
The US congress passes laws that authorize Federal Reserve Board (via Chairman
Ben Bernanke) to buy some paper and then print a bunch of new interest bearing
paper currency instruments in varying amounts with the promise of US government
repaying these loans in US dollars at the future dates specified (when they
become due). The FED then auctions off these freshly printed US T-Bills, Bonds,
or other Securities at US Federal Reserve Bank public auctions (at discounts
less than face value and/or present worth) to mostly foreign manufacturers,
foreign banks and foreign individuals in China, India, Brazil, Pakistan, and
other industrialized countries in return for the US dollars that these
foreigners earned by making consumer goods for US citizens. The US government
then spends these US dollars, plus US dollars collected by taxation, on various
government expenses.
3.2.
Instead of
redeeming our freshly printed US T-Bills, US Bonds, and other currencies with
gold from Ft. Knox, the US government is allowing these freshly printed and
other Securities to be redeemed (by mostly foreigners from industrial
manufacturing nations that earn a continuous flow of US dollars by manufacturing
US goods for US citizen consumption) for title to privately owned businesses,
factories, casinos, hotels, farms, land, ports, breweries, refineries, forests,
ports, breweries, refineries, and other privately owned assets located in the
USA (that were created by previous US generations).
3.3.
US is going to
have to print and sell these US T-Bills, US Bonds, and other currencies mainly
to foreign manufacturers FASTER AND FASTER to get the foreign held US dollars
back from foreign manufacturers in order to pay for the growing US government
expenses that are in excess of our US federal government tax collections. This
includes high-speed rail projects, environmental cleanups, roads, bridges,
utilities, and other pork barrel projects in politically contested areas that
will create temporary employment and make President Obama appear to be improving
the economy by spending borrowed dollars to win re-election votes and improve
approval ratings. The US government also needs more and more US dollars to pay
for wars, military
jets with active duty military USAF pilots for the personal use of specially
privileged members of congress (ala Pelosi), government
bureaucrat
payrolls, government retirement checks, courts, federal police, failed business
bailouts, cash bonuses to the various Wall Street forgers of SEC documents that
contributed to political campaigns, Las Vegas corporation junkets for failed
corporation employees, foreclosed house mortgages for big spenders with bad
credit, new multi-million dollar French manufactured personal corporate jets for
political contributor's bankrupt corporations, pork barrel projects, high speed
rail projects, research contracts, Welfare, Social Security, Medicare, Medicaid,
SSI, expensive corporate vacations, new infrastructure, wealth re-distribution,
mental health services, foreign aid and any other thing that congress and the
president decides to use taxpayer money to acquire, build or just give to their
political campaign contributors and various other privileged individuals.
3.4.
Productive nations like China, India, Brazil, Pakistan, and other
industrialized foreign nations grow wealthy and secure the value of their
currency by producing and creating enough products to support the needs of their
populations with their farms, factories and mines, plus they earn additional
currency and additional wealth from foreign nations by exporting additional
products that they manufactured in return for foreign currency, foreign gold,
title to foreign assets, and other valuables. The economic health of every other
business in that country depends upon their productive industries. These
industrious individuals, companies and nations will soon own title to most of
the privately owned assets and wealth located in the USA.
3.5.
Future generations of our children and our unborn grandchildren will have to
work hard to pay off these US bonds and T-Bills when they become due and also
buy back these
privately owned
assets if that is
even possible. US citizens apparently believe that we are entitled to sit idle
and not work in some dirty factory making the things that US citizens consume,
when US citizens can obligate our grandchildren to work and pay for our easy
non-productive lifestyle. This situation might end when the USA runs out of
privately owned
US property
and other assets that foreigners will accept in return for the cash that US
citizens paid to foreign workers in foreign factories to make the things that US
citizens purchased and consumed.
3.6.
The US government is living like some creative American families that
charge all of their expenses to credit cards, buy new autos, take expensive
vacations, buy new designer clothes, eat out at expensive restaurants, rent
instead of buying a house, pay the minimum credit card payments every month, and
quit working at their jobs. Why should anyone work if they can live off of
borrowed money? This is the new American Way. It cannot ever end! Financial
Freedom Forever!
3.6.1.
Maybe my wife & I could get a divorce with her awarded all of our assets,
and then we could travel around the world living the high life with my credit
cards until my credit cards were "maxed out", and then I could file bankruptcy
and not pay for our good times. We could then get re-married. But what if she
wants a newer, better-looking and younger man instead of me. Maybe I had better
not try that.
3.7.
Most US citizens, including all of my immediate family members are
unconcerned about the overall big picture. They believe that the party will go
on forever with the citizens of industrialized nations paying the bills for the
high lifestyle and excessive consumption of US citizens in return for title to
everything of value in the USA. They say that our government has secret policies
that they will implement in order to prevent another great depression.
3.8.
If our economy collapses, there will not be any jobs for anyone at
present wages. When we have destroyed the purchasing value of the US dollar, you
might make $3,000.00 per hour but a loaf of bread might cost $35,000.00 if you
can find one for sale.
CHAPTER 4
US FOREIGN TRADE DEFICIT
4.
The US government has created an economic situation that US gold; US
currency; stocks, title to US real estate, businesses, jobs, and other privately
owned US assets are leaving the USA to pay people in foreign countries to
manufacture the things that US citizens import and consume, and also to pay for
our US government spending when it is more than the US government collects in
taxes. These amounts of dollars leaving the USA are greater than they would be
if US citizens in the USA were manufacturing more of the things in the USA that
US citizens were consuming. We must change this situation or we will become a
post WWI Germany economically where our currency has no buying power. This could
happen overnight as soon as we have sold title to all of our privately owned
businesses, factories, casinos, hotels, farms, land,
ports, businesses,
refineries, forests,
ports,
breweries, refineries, publically traded securities
and other privately owned
assets located in the USA that were created by previous US generations in return
for the foreigner's US dollars that they earned by making things for US citizens
to consume, and then we will have nothing else of value left to sell to the
foreign industrialized nations.
4.1.
A Trade Deficit is created when the USA importing, transportation,
distributing and retail sales companies pay companies and individuals in foreign
countries like China, India, Brazil, Pakistan, and other industrialized foreign
nations with US dollars to manufacture the things that these US businesses
import, distribute, and then sell to the US consumers.
4.2.
Manufacturers of vehicles, appliances, and equipment made with imported
parts that they paid the people working for foreign companies in foreign
countries with US currency to manufacture a large portion of the parts and
assemblies that are imported for final assembly of the finished product in the
USA that is then sold to US consumers as "Made in the USA".
4.2.1.
If only the nameplate is attached to the product, is that product really
"Made in the USA"?
4.3.
The average consumer (maybe all consumers) will always pay less for a
foreign made product than pay more for a more expensive American made product if
he has a choice.
CHAPTER 5
US GOVERNMENT SPENDING
DEFICIT
5.
The US government does not really borrow money to pay for its expenses.
The US congress passes laws that authorize Federal Reserve Board (via Chairman
Ben Bernanke) to buy some paper and then print a bunch of new interest bearing
paper currency instruments in varying amounts with the promise of US government
repaying these loans in US dollars at the future dates specified (when they
become due). The FED then auctions off these freshly printed US T-Bills, Bonds,
or other Securities at US Federal Reserve Bank public auctions (at discounts
less than face value and/or present worth) to mostly foreign manufacturers,
foreign banks and foreign individuals in China, India, Brazil, Pakistan, and
other industrialized countries in return for the US dollars that these
foreigners earned by making consumer goods for US citizens. The US government
then spends these US dollars, plus US dollars collected by taxation, on various
government expenses.
5.1.
Bernake cannot
disobey congress, or Congress would fire him and find another person to continue
the Ponzi scheme that finances our US government financial activities.
5.2.
Maybe the US government should hire Jeff Skilling, Bernard Madoff, Scott
Rothstein, Eddie Fastow, Allen Sanford and the other lesser known financial
wizards as consultants to advise the US treasury department of "How to operate a
Ponzi Scheme"! They might be the best qualified people in the USA to run the
FED.
5.3.
This debt is called the “National Debt” that obligates the future
generations of US citizens to repay the holders of these freshly printed US
currencies when these currency instruments come due. The purchasers are no
longer sure that these freshly printed US currencies will be repaid in the
future, so these industrious foreigners deposit these currencies in US banks
(actually sell these instruments to US banks at a discount for US dollars) and
then spend these US dollars to acquire title to real estate and other US assets
that were created by generations of previous US citizens.
5.4.
The US government is allowing these freshly printed currencies to be used
for purchase of title to privately owned assets located in the USA instead of
gold from Ft. Knox, which is mostly now gone. The US Government stopped
redeeming US dollars for gold from our gold reserves at Fort Knox in 1971 or
1972 and is now redeeming our freshly printed US T-Bills, US bonds, US dollars,
and etc., that foreigners earned by making products for US consumer consumption,
with title to privately owned businesses, factories, casinos, hotels, farms,
land,
ports, businesses, refineries,
forests,
ports, breweries,
refineries, and other
privately owned assets located in the USA that were created by previous US
generations. The US government declared that the US dollar and these freshly
printed US T-Bills, Bonds, and etc. is now backed by the "full faith and credit
of the USA" (aka Junk Bonds).
5.5.
As long as foreigners are able to easily and quickly redeem these freshly
printed US T-Bills, Bonds, and other US governments instruments for title to
existing privately owned businesses, factories, casinos, hotels, farms, land,
ports, businesses, refineries, forests, ports, breweries, refineries, and other
assets that were created by previous US generations, instead of redeeming US
dollars for gold, these foreigners in industrial countries will continue to buy
our freshly printed US T-Bills, Bonds, or other Securities, and US citizens will
not have to work to pay for our imported consumer goods and our US government
activities.
5.6.
Exchanging freshly printed US T-Bills, Bonds, and other instruments for
title to privately owned US assets instead of gold has created value for buyers
of our freshly printed debt instruments that allows the US government to raise
money to pay for US federal government spending. This can last only until we
have no more US assets (that were created by previous US generations) available
to sell for foreign earned US dollars.
5.7.
This allows US citizens to sell the US located privately owned assets
that were created by previous US generations to foreigners, in lieu of US
citizens having to work to produce the things that US citizens consume. These
privately owned US located assets are finite. The USA will soon run out of
various assets created by previous generations that we can to sell to foreigners
to keep US citizens from working.
5.8.
When those foreigners have purchased title to everything of value in the
USA, the US government will no longer be able to raise many US dollars from
these foreign manufacturers by printing fresh T-Bills, Bonds, or other
Securities to pay for our US government expenses.
5.9.
If we disallowed purchase of title to privately owned US assets using
freshly printed US currencies, the foreigners would not buy our freshly printed
US T-Bills, Bonds, or other Securities when the FED offers them for sale at
auctions, or else they will be purchased for the equivalent of a fraction of a
penny on the dollar, and the buying power of the US dollar would approach zero.
5.10.
The US importers and distributors pay foreign manufacturers in foreign
countries with US currency (Dollars) to purchase the products that US consumers
purchase at retail outlet stores. These foreign countries do not buy very many
US dollars worth of anything from the USA because our products are much more
expensive than foreign made products, and sometimes US products are not as good.
5.11.
US citizens are racing to sell title to everything in the USA of value
that was created by previous generations in order to keep from working. This
will keep the USA from re-industrializing and allow US citizens to not work as
required to produce the things that US citizens consume. This will also raise US
dollars to pay for federal government spending. This is "sort-of like" US
citizens selling our body parts to keep from working! The US government calls
this "Investing in America". US citizens are racing to sell title to everything
in the USA of value that was created by previous generations in order to keep
from working.
5.12.
The day will come when there will be (almost) nothing of value left to
sell to foreigners, and then we will then have to re-industrialize because US
citizens will then no longer be able to print paper currency to pay foreigners
to work and make the things that US citizens consume. At that time the USA will
probably have no means raising money for any kind of re-industrialization by
selling US assets that were created by previous US generations.
5.13.
The USA is selling our children's legacy, including title to most all of
the US wealth, that previous generations worked for and accumulated, in order to
pay people in foreign countries to work and produce the things that US citizens
consume. This keeps the USA from re-industrializing and having US citizens
working to produce the things that US citizens consume.
5.14.
The
FED
publicly received bids of almost 4% interest for $100 billion of freshly printed
paper US Treasury securities that were printed and sold at the May 2009 public
auctions. This was about double the rate expected by the Treasury Department.
The US government will need to "borrow" at least $6 trillion more US dollars
back from the industrial manufacturing countries that earned US dollars before
the end of 2009 by conducting more of these FED auctions to sell more freshly
printed US T-Bills, US Bonds,
and other US credit
instruments in return for US dollars that are mostly held by people in the
industrialized nations.
5.14.1.
Who
knows how high the interest rates and/or face value discounts will be bid at
these future FED auctions.
China, India, Brazil,
Pakistan,
and the other
industrialized
wealth generating
nations already hold a large portion of all US federal debt securities, and they
are exchanging these instruments for title to
privately owned businesses,
factories, casinos, hotels, farms, land,
ports, breweries,
refineries, forests,
ports,
breweries, refineries,
and other privately owned
assets located in the USA that were created by previous US generations
that they do not
already own, as fast as they can, since the US government will no longer redeem
their dollars and other US government financial instruments for gold.
5.14.2.
Foreigners know that the US currencies and credit instruments that they
earned by making the things that the USA population consumed can not redeemed in
gold, but foreigner individuals and their foreign governments are allowed to
redeem their freshly printed paper US government currencies by purchasing title
to privately owned US assets, instead of exchanging their dollars for gold
bullion from Ft Knox. If we stopped allowing this exchange of US currency for US
property, the buying value of the US dollar would diminish to the point that it
might take a whole day's wages to buy one loaf of bread.
5.14.3.
Some sources estimate that the title to 25% of privately owned US located
assets with recorded deeds and/or titles are now listed as foreign owned (http://economyincrisis.org/articles/show/1072)
and this percentage is increasing rapidly. Our payments for foreign oil,
manufactured assembly parts, and foreign raw material suppliers are handled in
essentially this same manner. What will we do when we have nothing of value to
sell to the foreigners who work to make the things that we consume? I do not
believe that they will work for free.
5.14.4.
These privately owned US located assets are finite, and the day will come
when there is nothing left to sell to foreigners, and then we will then have to
re-industrialize.
5.14.5.
The discounts/interest rates offered at public bid to purchase our
freshly printed US securities by industrialized manufacturing nations that have
acquired US dollars will depend and reflect upon the confidence that the USA
instills these foreigners by our economic actions. (What if we made our
currencies more pretty, or used psychedelic colors to improve their cash value.
This might improve the value of the paper that they are printed on).
5.14.6.
Many countries are losing confidence in the dollar as the benchmark for
world trade and currency values. Other currencies, like the Chinese Yuan with a
more stable value, are now being talked about as a replacement for the US Dollar
as the benchmark for international currency values. The Chinese Yuan might be
the last man (currency) standing after the US government destroys the US Dollar.
5.15.
If taxes taken in each year are not sufficient to pay these expenses, The
US congress passes laws that authorize Federal Reserve Board Chairman Ben
Bernanke to buy some paper and then print a bunch of new interest bearing paper
T-Bills, Government Bonds, etc. and then sells them at FED auctions to people
who are holding US dollars (foreign industrial manufacturers and foreign
governments) in exchange for these freshly printed T-Bills, Government Bonds,
etc. The US government deposits these US dollars into banks to redeem the
government checks written for various US government expenses.
5.16.
Why can't
the US government just buy some more paper and print more money (faster and
faster) to pay our expenses like Mexico?
Every time that we print dollars, the value and buying power of each printed
dollar reduces proportionately. One US Dollar that would buy about 8 Mexican
pesos in 1960 can now exchange for as much as 15,000 of the 1960 Mexican pesos
today. This is equivalent to about 187,500% inflation over that period. A $2.00
USA loaf of bread would then cost $3,750.00 if the USA implemented Mexican
economic monetary type policies.
5.17.
Why do we
have to borrow money from foreigners, and not our own financial institutions?
The Chinese,
Indians, Pakistanis, and Brazilians are very industrious people that have
created a continuous flow of incoming US paper dollars that they earn from US
importers for making the things that US citizens consume. Only small percent of
these freshly printed paper T-Bills, US Bonds, etc. are bought by US citizens
and US organizations.
5.17.1.
The US government wants these industrial nations to spend their US
dollars to purchase the freshly printed paper T-Bills, US Bonds, etc. at the
periodic US Federal Reserve auctions. These foreign industrial countries are now
offering less and less than the face value of our freshly printed-paper T-Bills,
US Bonds, etc. as the industrial nations confidence in the USA economic system
diminishes.
5.17.2.
When the USA runs out of privately owned real estate, businesses and
other assets in the USA to sell to foreigners in return for the wealth (T-Bills,
US Bonds, etc.) that foreigners created by working to manufacture the things
that US citizens consumed, these productive foreign industrial nations will then
pay less and less US dollars for our freshly printed paper T-Bills, US Bonds,
etc. that the US government wants foreigners to buy.
5.17.3.
How did
these industrialized nations
get so much of our US currency, Dollars, T-Bills, Bonds, and other government
securities? The US importers and distributors pay foreign manufacturers in
foreign countries with US currency (Dollars) for the products that US consumers
purchase. These foreign countries do not buy very many dollars worth of anything
from the USA because our products are much more expensive than foreign made
products, and sometimes US products are not as good.
5.17.4.
China
already is the USA's biggest foreign lender (creditor) of US Dollars to the US
Government to pay government expenses.
China owns an estimated $1 trillion of this U.S. government debt consisting
mostly of freshly printed-paper US T-Bills, US bonds, US securities and etc. If
China wants Gold instead of printed-paper currency, a weaker dollar will result.
5.17.4.1.
If the Industrial nations only wants to pay only pennies on the dollar
for any of our future freshly printed paper T-Bills, Bonds, Securities,
currencies, etc., this will cause great inflation in the USA, and/or also cause
great reduction of the buying power of the US dollar within the USA for imported
and domestic products.
5.17.4.2.
If the foreigners decide to only pay a few pennies or less on the dollar
for our freshly printed paper US T-Bills, US bonds, and other US securities,
then the USA will have to print up many times as much paper money, and the
inflation could then become astronomical, ala Mexico.
5.18.
Chinese
Premier Wen Jerboa
stated, "Of course we are concerned about the safety of our assets. To be
honest, I'm a little bit worried." Wen said at a news conference Friday
(13MAR09) after the closing of China's annual legislative session. "I would like
to call on the United States to honor its words, stay a credible nation and
ensure the safety of Chinese assets." This message is unlikely to be
misunderstood at the White House. The Obama administration is counting on
Beijing to loan the US government US dollars to pay for our TARP, Wars, social
programs, environmental cleanups, and various other economic stimulus packages
by buying our freshly printed paper U.S. bonds (at hopefully close to face value
or not too much of a discount) with the US dollars and other US currency that
China earned from the USA population by manufacturing the things that the USA
citizens imported and then consumed.
5.19.
If I owe the bank $500,000.00 and cannot pay, I am in real trouble. If I
owe the bank $50,000,000.00 and cannot pay, the bank is in real trouble. China
is probably worried that the future generations of US citizens will not re-pay
the T-Bills and US Government Bonds that finances our non-productive high
consumption US lifestyle of today, and our fast growing government expenses. The
US government must have assets available for the foreigners to purchase with
their freshly printed paper U.S. bonds or the foreigners will not buy our U.S.
bonds on the next occasion that we print some more of these paper U.S. bonds.
5.20.
The only reason for any foreigner to purchase any freshly printed-paper
U.S. currency is to redeem that currency for title to existing US located assets
that were created by previous generations of US workers. The foreigners know
that this exchange of currency for US assets needs to happen as soon as possible
since the buying power of the US dollar is diminishing rapidly.
5.21.
"The
principle of spending money to be paid by posterity, under the name of funding,
is but swindling futurity on a large scale." - Thomas Jefferson
CHAPTER 6
THE USA IS COMMITTING
ECONOMIC SUICIDE
6.
When and if foreign individuals and governments stop buying freshly
printed US paper T-Bills, US paper bonds, and other paper US securities at
Federal Reserve public auctions so that the Federal Government can raise US
dollars to pay for US government expenses, and/or if foreigners start buying
these items at the foreign currency exchange equivalent of a few pennies or less
on the dollar face value, the government checks, social security checks,
government payroll checks, and private paychecks will then not buy very much
food or anything else that we consume. Your life savings might only sustain you
for only a couple of weeks.
6.1.
After we have sold title to all of our privately owned US real assets
that have any value to foreigners as required to settle our foreign trade
obligations and government expenses, there will not be anything left that the
foreigners will want to buy with their freshly printed paper US T-Bills, US
bonds, etc. The US government will then not be able to raise any funds for any
possible future re-industrialization of the USA, and the US citizens will not
have any possibility of employment in their future to buy back the assets that
will be foreign owned.
6.2.
Foreign entities will very soon own everything of value in the USA and
then foreigners will become the major (only) source of employment for US
citizens.
6.2.1.
The USA population will then become employees; possibly indentured
servants; or maybe even beg to become slaves owned by the foreign countries
and/or foreign individuals that will own everything of value in the USA in the
very near future if the US government continues to destroy the US economy.
6.2.2.
US citizens might have no options if they want to feed their families?
Our children and our grandchildren might also have to change to the religion
(probably not Christian) of the business owner if they want a job.
6.3.
The USA is selling our children's legacy, including title to all of the
wealth accumulated by previous generations in order to pay people in foreign
countries to work and produce the things that US citizens consume, so that this
will keep the USA from re-industrializing and having US citizens working to
produce the things that US citizens consume and to pay for federal government
spending. This is "sort-of like" US citizens selling our body parts to keep from
working! The US government calls this "Investing in America". US citizens are
racing to sell title to everything in the USA of value that was created by
previous generations in order to keep from working.
6.4.
What will
be the buying power of the US dollar when there are no remaining privately owned
US assets that the foreigners want to exchange for the US dollars, T-Bills, and
bonds that they earned by manufacturing the things that US citizens imported and
consumed? The USA
will very soon run out of title to any assets that foreign manufacturers will
want to purchase with their freshly printed US government currencies and
securities that they purchase at Federal Reserve auctions with the US Dollars
that they earned by making items for US consumers.
6.5.
The USA needs to direct the remaining funds that will be derived from the
sale of the remaining privately owned US real property assets toward investing
in activities such as technical education and re-industrialization so that US
citizens can get the Gold, property titles, and US dollars back from these
foreign countries and into the USA economy via re-industrialization. Wall Street
and Banking Business bailouts will not accomplish anything to correct the basic
flaw in our economy, which is the foreign trade deficit. Do you think that the
Chinese buy title to Dogpatch? I think that the US government at one time
declared Dogpatch to be the most worthless property in America! What if we
packaged the title to Dogpatch into a LLP with title to other low value US
properties, do you think that anyone would notice that there really is no
Dogpatch property in the USA?
6.6.
Industrialized countries view the United States of America as borrowing and
spending huge amounts of freshly printed paper money (actually FED Bonds,
Securities, etc. sold to foreigners to get the US dollars back from the people
who made the things that we consumed) with the careless abandon of a drunken
sailor on shore leave.
This US government attitude
is very disturbing to those very same foreigners in industrialized nations that
the US government hopes will buy more of our freshly printed US securities
(hopefully at not too much of a discount and/or not very high interest rates) to
pay for our economic stimulation, our trade deficit, our wars, our social
programs, our environmental activities, and other (necessary and) unnecessary
various government expenses with the US dollars that the foreigners earned by
making things for US consumers and then loaned to the US government.
6.7.
The US government currently uses this borrowed money to pay for
government expenses including wars, military jets with active duty military
USAF pilots for the personal use of specially privileged members of congress
(ala Pelosi), government payrolls, government retirement checks, courts,
federal police, failed business bailouts, cash bonuses to the various Wall
Street forgers of SEC documents that contributed to political campaigns, Las
Vegas corporation junkets for failed corporation employees, foreclosed house
mortgages for big spenders with bad credit, new multi-million dollar French
manufactured personal corporate jets for political contributor's bankrupt
corporations, pork barrel projects, research contracts, Welfare, Social
Security, Medicare, Medicaid, SSI, expensive corporate vacations, new
infrastructure, wealth re-distribution, mental health services, imported
consumer goods and any other thing that congress and the president decides to
use taxpayer money to acquire, build or just give to their political
contributors and various other privileged individuals with borrowed US dollars
including high-speed rail projects and other local pork barrel projects that
will create temporary employment.
These are cosmetic economic stimulation changes
that do not correct the structural problem that is the Foreign Trade Deficit
because these expenses produce nothing.
6.8.
The free money previously passed out or loaned to the financial
"industries" by the US government did absolutely nothing to create any real jobs
or to reduce the foreign trade deficit problems with the US economy. Maybe it
created industrial business pressure to out-source more US jobs to reduce
manufacturing costs and thus reduce business losses and/or to increase business
profits.
CHAPTER 7
FREE TRADE
7.
Free World Trade of products and commodities means that every US business
must compete internationally based mainly upon price (and/or by bribing various
government officials). Labor cost is normally the greatest cost component of
most products and commodities. The country with the lowest labor cost normally
gets the product sale, the manufacturing jobs, and the import of foreign
exchange currency to manufacture these products. Free Trade does benefit the
US importers, US distributors and retail sales outlets of foreign made products
with jobs for supplying US average citizen with less expensive products, but
this is at the cost of losing jobs in the USA to make these products. If the
USA had innovative products that foreigners did not have, then the USA could get
higher prices for those products, until the foreigners copy the US inventions.
7.1.
The labor intensive US tire manufacturing companies have closed most of
their plants in Ohio, sold the tire manufacturing molds and equipment to foreign
citizens who relocated this tire manufacturing equipment to their foreign
countries where labor costs are very low compared to US labor costs. These
foreigners then re-constructed and re-started these plants using foreign workers
that are happy to be paid only a tiny fraction of the pay that US citizens would
accept. As a result, these foreign companies now manufacture almost all of the
tires that are consumed in the USA. There are not very many industries or jobs
remaining in the USA. This is typical of how free trade has affected all of our
industries.
7.2.
The USA importers and distributors pay the foreign manufacturers in
foreign countries with US currency (Dollars) for these products, and these
foreign countries do not buy very much of anything from the USA because our
products are much more expensive than foreign made products, and sometimes US
products are not as good. Foreigners will continue buy the remaining US located
businesses, natural resources, casinos, and the other US located assets that
they do not already own with the US dollars that US importing companies pay them
for the products that they make for consumption by US citizens.
CHAPTER 8
CAN THE US ECONOMY BE
SAVED?
8.
The only
thing that will create/save US jobs, preserve/restore the buying power of the US
Dollar is reversing the trade deficit, cease US government deficit spending, and
reducing the US government costs
in order to start re-building the USA gold reserves which is the basis of the
buying value of the US dollar. Only a positive balance of trade will eventually
restore the value of the dollar, and we must accomplish this by any means
possible, or we shall have to accept third world poverty for the majority of our
citizens. The only way to do this is to produce and export more (dollar value
of) things than we import. The only way that we can accomplish exporting US made
products is to re-industrialize and make these products, hopefully with mostly
US materials & Labor. The only way that our products will be sold abroad is if
these products are either technologically superior, or cheaper. US citizens
must manufacture and sell things to foreign countries in order to get US
currency back from foreign nations in order to buy back the privately owned
US assets sold to and are now owned by foreigners.
8.1.
US
Government jobs generally do not produce any of the food, shelter, and clothing
required to sustain life. The communist form of government where everybody works
for the government because the government owns everything does produce the food,
shelter, and clothing required to sustain life. Most of the people in communist
countries want to work at something other than producing the produce the food,
shelter, and clothing required to sustain life. They become a nation of
non-producers wanting the producers to produce more and more so that they can
keep themselves busy as musicians, poets, social workers, philosophers,
historians, politicians, bureaucrats, administrators, economists, artists, etc.
and let others work to produce the food, shelter, and clothing required to
sustain the life of the nation.
8.2.
What is
preventing the USA from re-industrializing?
The US citizens do not want to work for the extremely low wages that are paid in
foreign countries to manufacture the things that US citizens consume. This is
the main reason why the US manufacturers have closed their US factories, and
relocated the manufacturing facility to a country with less expensive labor. The
constant US government activity of "Piling on" more and more environmental
regulations onto our industries is also a great incentive to relocate US
industries to foreign countries.
8.3.
Import
Tariffs: Only US
import tariffs high enough to prohibit imported products from being imported and
sold in the USA will create re-industrialization, stop the flow of title to
privately owned US assets from the USA, re-create the value of the US dollar,
and also create manufacturing jobs for US citizens. Yes the consumers will have
to pay many times the current price of each item if these items are made in the
USA, but maybe this can avert a second bloody USA revolution.
CHAPTER 9
SCIENTIFIC & TECHNOLOGY
EDUCATION OPTION
9.
If US citizens are not willing to work for lower wages than the foreigner
workers employed in foreign countries are paid, then the USA cannot compete
based upon lower product costs. If we cannot compete on lower costs, then maybe
we could be competitive internationally through other areas such as superior
technology, as the USA did to win WWII and for a few of the decades following
WWII.
9.1.
The USA is no longer the World Technology leader that the USA was until
maybe the early 1970's. Asian countries are now are the technology leaders. The
best & brightest students in the USA have pursued the more financially rewarding
non-scientific financial careers, instead of educations that might have created
technically innovative products that people in foreign countries might purchase.
9.2.
China is
now the primary source of the most advanced scientific talent
because their public technical education process starts early and continues to
produce a stream of highly qualified young people that is quite large compared
to what is produced by the US undergraduate programs. American students will
generally not endure the hard work and intense focus that is required for
science and engineering degrees, especially since there is such limited
financial rewards and respect for that effort after graduation.
9.3.
Existing
Science and Technology will not save the USA economy
because in the last few
decades the US government has apparently decided that science and engineering
educations should not be financially rewarded as much as the other less
demanding educations. Asian countries are now producing large quantities of
technically educated and competent scientists and engineers that are probably
better technically qualified than the US engineering graduates, while the USA
produces Historians, Poets, MBAs, Economists, Social Scientists, Political
Scientists, and etc. The Asian and other industrial countries produce very few
of these non-technically educated students.
9.3.1.
Many entrepreneur owners of
Restaurants and retail stores here in Houston are Engineers who decided that
engineering was no longer financially rewarding and left the Engineering
profession for more lucrative professions and businesses. My personal dentist is
an ex NASA electrical engineer.
9.4.
Only if our
products are technically superior
can we export those products in return for their foreign payment (gold and US
dollars) to the USA, unless we can somehow produce these products cheaper than
the foreigners. We must also prevent foreign countries from pirating and/or
copying our new innovative products. We might need to use the force of law
and/or the force of our military might to prevent any pirating of our
technology, or the jobs to produce any new technology will be exported to
foreign countries as all of the other jobs to produce US engineer invented
products have been exported. The Unions should promote legislation that would
keep jobs for production of US developed products in the USA.
9.4.1.
If we had technically innovative products that foreigners did not have,
then we could get high prices for those products with excessive profits (until
the foreigners copy our inventions and/or infringe upon our patents). As we have
purposefully reduced our human scientific and technology resource bases, the USA
has stopped being the country that is creating any new inventions or products.
9.5.
The USA must create superior engineers, superior medical doctors,
dentists, and scientists if we want to regain the technological edge that the
USA has lost and purposefully destroyed in the last few decades. This will not
be easy, but it must be accomplished immediately before it is too late.
Resources should be spent on regaining the technological edge, rather than
paying borrowed government money for buying Wall Street toxic assets and
constructing US government pork barrel expenses.
9.6.
We must somehow create funds to finance the re-creation of a superior
Human Technical Base that is required to win any technology war.
9.7.
We need to reverse course of our educational system and re-emphasize
science and engineering to create many more medical doctors, engineers,
scientists, and educators as the US educational system did prior to the 1970's.
The USA scientists, medical doctors, engineers, and educators must also become
much better educated, much more intelligent, and otherwise much more superior to
any foreign educated engineer and/or scientist in order to design, create,
innovate, and produce new technical products that foreigners do not have, so
that the foreigners will then buy these new products from the USA, in exchange
for their foreign gold and US currency which could then be sent to the USA
companies.
9.8.
Our
computer programming
technology and expertise (ala Microsoft etc.) helped our balance of payments
considerably in the past, but the lack of technical education in this country
today has reduced and will soon totally destroy this export capability. The
foreign countries have become better than the USA at creating new computer
software programs, since the USA has chosen to de-emphasize technical and
scientific education in our universities. Asian Countries are now the producers
of new computer technology, not the USA.
9.9.
Visit the
Texas Medical Center
(mostly the MD Anderson Cancer Center in Houston) and witness the percentage of
women wearing Burkas to get a clue or to estimate the percentage of foreign
medical service income currency that is received at the Texas Medical Center. I
do not believe that any of these women wearing Burkas are US citizens. Foreign
currency paid to our US located Medical Doctors, Laboratories and Hospitals by
foreigners improves our foreign trade balance. I think that most foreigners
still believe that US educated medical doctors are much superior to their own
in-country educated medical doctors, and that is the reason that they seek the
best medical care available which is in the USA. We must maintain the US
leadership in the medical field.
9.10.
Engineers
who are working in Foreign Countries
and sending (most of) their dollars home to the USA improves our balance of
trade. In the past, foreigners believed that US educated and trained Engineers
were superior to their in-country educated Engineers. This advantage has almost
disappeared since the USA stopped emphasizing engineering education, science
education, and other technical education in our Universities. I have been the
engineer of record for the construction of projects in Asia, Europe, Middle
East, Caribbean, and South America. US citizens are unaware of the lifestyle
advantage that we are accustomed to and take for granted. If our economy
collapses, we can become a starving third world country overnight.
CHAPTER 10
CHINA IS WINNING THE WAR
FOR SCIENTIFIC AND TECHNICAL SUPERIORITY
10.
China is
going to achieve tremendous progress in the world science and technology in the
next 30-40 years." This is a remark by eminent scientist and Nobel laureate Chen
Ning Yang in his speech on "Science and Technology of the 21st Century"
delivered at the opening ceremony of the 6th World Chinese Entrepreneurs
Convention in Nanjing on September 17, 2008. In his speech, Yang said that
modern science and technology were introduced into China only in the 20th
century. Within a time span of just one century with efforts by merely several
generations, China has started from scratch to having attained the level of
being able to launch and recover its Shenzhou Spaceship, an incredibly rapid
development with no precedence in history.
So he
believes China's scientific and technical level will surely reach the foremost
front of the world advanced level by the year 2030 or 2040.
10.1.
China is
stepping up research of particle accelerator on its own, according to reports
from the ongoing 2nd Asia Accelerator Conference. It is said that the Institute
of High Energy Physics under the
Chinese Academy of Sciences is making an active effort in design and
research of positive-negative electron impinging machine in
Beijing, and hopes for a 100-fold increase in the brightness of the machine.
10.2.
As China increases their Nuclear Research, China will soon surpass the
USA in Nuclear and other advanced scientific technologies and capabilities.
10.3.
China is using their hard earned and newly created wealth to accelerate
their scientific capabilities, including their nuclear and rocket delivery
systems.
10.4.
Chinese nuclear technology and capabilities will soon surpass the USA
scientific technology. The Chinese now have had the Rocket Guidance technology
(purchased from Hughes Aircraft in the 1990's in return for a political campaign
contribution via Chinagate bagman Johnny Chung) for intercontinental ballistic
targeting anywhere in the USA (and anywhere else around the world). The Chinese
missiles would not fly on course before this technology purchase.
10.5.
The USA must fight and then win the war for Scientific and Technological
Superiority! If we lose the scientific and technology lead to China or any other
country, the USA will rapidly decline into a third world nation, and our
citizens will have to work for the Yuan equivalent of US pennies per hour after
the total economic collapse of the USA and the buying power of the US dollar
goes to zero.
10.6.
The USA is no longer the scientific and technical world leader that it
once was just a few decades ago.
10.7.
The US
government elected to cease construction if the US Super Collider at Waxahachie,
Texas a few decades ago,
but
decided to spend many times that amount to bail out various Wall Street
financial businesses.
As China
increases their Nuclear Research, China will soon surpass the USA in Nuclear and
other advanced scientific technologies and capabilities.
CHAPTER 11
THE USA NEEDS SCIENTIFIC
AND TECHNICALLY EDUCATED CITIZENS
11.
There is very little economic incentive for US citizen college students
to major in any of the science or engineering fields at this time. This needs to
change for the benefit of the US economy. I believe that most students today
want to study business and/or economics in order to become one of the wealthy
Wall Street (master criminal) business tycoons. No person in his or her right
mind would major in science or engineering since the pay scale has eroded so
much in the last few decades and the study is so demanding compared to several
other less demanding and more rewarding fields of study.
11.1.
Asian countries are now outdistancing the USA in producing very large
numbers of competent scientists and engineers that might be even more creative
and more competitive than the US educated scientists and engineers. China,
India, Brazil, Pakistan, and other industrial foreign nations are producing
large numbers of scientific graduates because their technical education process
starts early and continues through university levels to produce a large number
of very technically qualified young technical graduates, while the USA produces
large numbers of MBAs.
11.2.
These total numbers are many times in excess of the number of science and
engineering graduates that the US undergraduate programs produce. Average
American students refuse to endure the hard work and the intense study required
for technical and scientific educations, when higher paying less strenuous
fields of study are available, and the scientific and engineering jobs after
graduation are so stressful and demanding when compared to other jobs.
11.3.
The USA must somehow reverse this process and begin to create engineers,
medical doctors, scientists and technicians that are superior to and without
equal to any of the others produced anywhere else in the world so that the USA
can start to regain the technological edge that the USA lost and/or purposefully
destroyed in the last few decades. This will not be easy, but it must be
accomplished immediately before the last remnants of our technological
capabilities are destroyed and out of date when compared to the average Asian
technology. If not, the USA will become a third world country.
11.4.
This erosion of economic reward for engineers is also caused by the
import of (H1-B visa) foreign engineers who will work for just slightly above
minimum wages and a Green Card Visa. These Foreign Engineers might be much less
as productive as US educated engineers, but since they are willing to work for
such a small fraction of the pay that US educated engineers demand (or used to
be paid), it is much more economically effective to employ several foreign
educated engineers when compared to the total cost of employing one U.S.
educated engineer (except maybe for the additional legal liability costs of
their design failures).
11.5.
The USA needs to create a demand for, and provide more financial
incentive for US students to major in the medical, technical, mathematical,
engineering and scientific subjects that are needed to create the technical
human capability intelligence bases that will be required to re-industrialize
the USA and re-create the US technology base needed for re-industrialization. We
need to demand a return to scientific and technical excellence in all levels of
our education systems that we purposefully destroyed in the past few decades. It
is necessary to re-create the technology bases that are necessary before
re-industrialization can occur in order to correct the US balance of trade
payments.
11.6.
We can only export technology if our products and technical services
available for export are either superior and/or cheaper when compared to the
services available in that particular foreign country. This will first require
that our best and brightest students study science and engineering instead of
other subjects in our education system. This needs to begin in elementary school
and continuing through graduate school.
11.7.
Resources should be spent on science and engineering educations rather
than spending borrowed money for Wall Street bailouts and government payrolls,
which does almost nothing to benefit any part of the US economy.
11.8.
According to the National Science Foundation and the National Society of
Professional Engineers, less than 5% of the current undergraduate college
students in the USA studying for a degree in science, medicine, mathematics or
engineering are US citizens. In the Asia the vast majority of the college
students are majoring in science or engineering. We need to increase the
percentage of USA citizen college students studying science and engineering from
5% to more than 60%, in order to emulate the economic industrial successes of
the Asian countries. We must emulate the educational systems of China, India,
Pakistan, and other Asian countries or the USA will die economically.
11.9.
The USA needs to replace our current "dumbed-down equal outcome"
educational process with some sort of selective process in order to allow
selection of only the best and the brightest to qualify for science and
engineering educations. We must provide financial incentives for these students
want to study science and technology instead of other less difficult pursuits of
study. The financial salary rewards to study science and technology in the
1950's made science students respected by other students, and this
inducement/reward needs to be re-introduced. Today, students make fun of and
demean science and engineering students.
11.10.
We could provide scientific and engineering services to foreign nations
and foreign individuals in return for the foreigner's currency, US dollars, gold
and/or other commodities in order to improve our balance of trade, except that
both India and China have surpassed the USA in technological capability. US
services would have to be provided by doctors, scientists and engineers who are
very much superior to any foreign educated doctors, scientists and engineers, or
the foreigners will use their home grown or some other more technically advanced
foreign country's medical, scientific and engineering talent, and then not buy
the services of US doctors, scientists and engineers. Foreign countries will
always seek the most technically advanced scientific and engineering resources
if they do not have these resources locally available.
11.11.
Existing US Science and Technology might no longer save the USA economy
after we completely destroy our technology base. Asian countries are producing
very competent scientists and engineers that are even more technically qualified
than the US educated engineers, while the USA produces MBA's, psychologists,
poets, artists, musicians, historians, economists and other non-scientific
graduates that will not contribute to anything to improve the Foreign Trade
Deficit. The Asian countries produce very few non-technically educated students.
Student loans should be available for only those fields such as science,
engineering, education, and medicine that do contribute to our industrial base
that will help our international trade balance by re-creating our technical
knowledge base necessary for re-industrialization.
11.12.
Most of the large US engineering firms outsource the CADD drafting and
the detailed engineering effort to India and/or Pakistan. There will soon no
technical design capability when US recent graduate engineers are not trained as
engineers by performing detailed engineering and CADD drafting under the
direction of an older and experienced engineer in an apprentice type experience
as required for and engineering license. We need legislation to impose
prohibitively high import duty tariffs to prohibit the import of technical
engineering services and CADD drafting services.
CHAPTER 12
KNOWLEDGE WORKERS IN A
POST INDUSTRIAL SOCIETY
12.
Some academic "economic experts" think that the USA can become a
"post-industrial" society of "knowledge workers" consisting of software
developers, data analysts, technicians, editors, scientists, lab technicians,
teachers, doctors, nurses, architects, accountants, engineers, inventors,
lawyers, poets, musicians, historians, philosophers, etc, and still somehow
generate sufficient wealth to continue payment to foreigners for them to
manufacture the food, shelter, clothing and other things that US citizens
consume.
12.1.
How does anyone think that US citizens can get foreigners to pay for
(buy) the services of these "US knowledge workers" if their home grown local
"knowledge workers" are equal to, or maybe technically superior to, our "US
knowledge workers", and will work for less money?
12.2.
I do not think that any foreign individual or foreign country would ever
purchase any of the services of any US educated liberal arts graduate, MBA
graduate, history graduate, philosophy graduate, English graduate, foreign
language graduate, economics graduate, musical, artist, social worker,
government graduate, political scientist or any of the other similarly educated
US citizen at any price because their services are not marketable.
12.3.
Maybe in the future the USA could produce better "knowledge workers", but
only if US citizens totally overhauled and changed our educational system to
emphasize science, engineering, and technical education instead of the other
various non-technical degree majors that most of the US citizen students study
today.
12.4.
How can US citizens earn enough money to pay for the import of the
products from foreign countries that we consume unless our education system
completely changes course and re-emphasizes science and engineering similar to
the 1940's and 1950's, instead of other studies that do not contribute
positively to our balance of trade? We need to stop the net foreign flow of US
dollars, US gold and title to privately owned US assets out of this country. All
of these privately owned US assets will all soon be foreign owned.
12.5.
After we have sold foreigners the title to all of our privately owned
wealth and assets, US citizens will not be able to keep on consuming the things
that foreigners manufacture for our consumption. US citizens might have to start
making these products in the USA. US citizens cannot make the products that we
consume unless US citizens re-industrialize and manufacture these things
ourselves, or just stop consuming these products. Re-industrialization will be
much easier now than later, when we no longer have any privately owned assets to
sell to raise money to construct any of the industries needed for
re-industrialization.
12.6.
We have lost the technology wars to China, India, Brazil, Pakistan, and
other industrial foreign nations. China will very soon become the predominant
source for "knowledge workers" when other nations need technology, not the USA.
12.7.
Nations grow wealthy and secure by making enough food and products to
support their needs (real or perceived) on their farms, factories and mines,
with an excess of those products to sell abroad to pay for the imports we need
or want. The health of every other aspect of our economy depends on these
principals. It is silly to speak of a "service economy" without presuming some
one else will work to create the food, clothing, energy, transportation, and
other products that US citizens consume without (just) compensation. Foreigners
do not have any use for our "knowledge workers" if they are a liberal arts
graduate, MBA graduate, history graduate, philosophy graduate, English graduate,
foreign language graduate, economics graduate, musical, artist, social worker,
government graduate, political scientist or any of the other similarly educated
US citizen
12.8.
Many of my (college educated) friends tell me that this modern economy
needs the consumers who do not produce anything but sit idle and consume the
things that the workers produce. I think that they also believe that a slave
needs an owner to sit idle and consume the things that the slave works hard and
produces. I believe that a slave does not need an owner.
12.8.1.
I believe that some US citizens think that Americans are special and that
other people in other countries would happily work to make the things that we
consume while we sit idle and consume the things that they made for us in return
for title to our privately owned property and other assets
that were created by previous generations of hard working Americans.
12.8.2.
We have killed and eaten our cow, and we are now complaining that we no
longer have any milk available for our children. We now have to borrow money to
pay our neighbors for his milk from his cow, and our family is running out of
things to pawn and/or sell for money so we can continue to eat. I really do not
want to work in some dirty factory and make something to sell in return for
money to buy milk for my family, until I run out of things to pawn for money.
12.9.
Why can't the USA just print more paper US T-Bills, bonds and other paper
securities and sell them to people in other countries to get the US dollars back
that we paid these foreigners for working to manufacture the things that US
citizens consume? We can remain idle and refrain from working while our children
can then work hard when they grow up and pay off these US bonds, T-bills and
other paper debt instruments at some later date when payment becomes due to
various foreigners. Will our children be happy to work hard when they grow up
and then pay for our privilege of consuming and not working?
CHAPTER 13
US ECONOMIC FUTURE
13.
How could
the USA re-industrialize and also pay decent wages to US citizens to manufacture
the things that we consume?
We could provide extremely high import tariffs
on the products that we desire to begin
manufacturing in the USA. The tariffs would be high enough to prohibit the
import of these selected products. This would allow the US manufacturer to
employ US citizens at some pay scale several times higher than foreign country
citizens get paid. The US government could select one product at a time for
prohibitive tariffs. The US government might start with steel, automobiles, auto
parts, tires, washers, dryers, refrigerators, computer chips, building
materials, computers, data processors, and then other selected manufacturing
industries. The USA should repeal all free trade legislation and international
trade treaties. Our consumable products will cost several times as much as they
cost now, but this is necessary. Otherwise the USA
will become a third world nation of unemployed
street beggars ala Asia.
13.1.
Is there
anything made in the USA anymore?
When you go to anywhere in the USA to buy anything, look to see where is it
made? Nothing is made in the USA anymore. When you buy $1,000.00 tools, parts,
materials, etc at Home Depot, they send a very large percentage of that purchase
in US Dollars to China, India, Brazil, Pakistan, and other industrial foreign
nations to purchase these products from the people who actually worked and
manufactured these items. This is how the US dollars leave the US economy. The
USA only makes a few things that people in other countries want to buy in order
for the US to earn some of this US currency back into the US economy and banking
system, but off hand, I cannot think of one single thing foreigners would buy
from the USA.
13.2.
How can we
preserve the economic miracle that has given US citizens one of the highest
living standards in the world?
The Agricultural and Industrial Base that won WWII and then gave us today's
bountiful way of life and created the standard of living that US citizens enjoy
today has been destroyed.
13.2.1.
This industrial and agricultural base produced the food, goods, services
and other items that we consumed, plus an excess of these goods & services that
were produced and then sold to other foreign countries in order to accumulate
the US gold reserves at Fort Knox through a positive balance of trade surplus
payments has been purposefully destroyed in the last few decades.
13.2.2.
This industrial and agricultural base must be re-created at any cost.
13.3.
Wall Street financial manipulations, innovative "financial products",
Junk Bond Creations, did not contribute to this economic miracle.
13.4.
US citizens are selling the US National Wealth that was created by the
previous generations of agriculture, mining and manufacturing sectors of our
economy during and after World War II to pay for our non-producing but high
consumptive lifestyle of today.
13.5.
Paying people to rake leaves, pave roads, teach school, build
infrastructure, plant trees, dig holes then refill the same holes, clean up the
environment, write poems, paint pictures, bailout financial investment failures,
etc. with US dollars borrowed from industrialized nations is nice, but these
jobs will not be useful or contribute anything to correcting the basic USA
economic foundation problem which is borrowing US dollars back from foreign
industrialized nations to pay for the foreign trade deficit and the Federal
Government Spending deficit.
CHAPTER 14
US ECONOMIC STIMULATION
PLAN
14.
The current proposed US government economic stimulation plan is
apparently to print up a bunch of new paper T-Bills, US Bonds, Dollars and other
similar paper US securities and then sell them at public auction as needed to
get US dollars back from the foreign industrialized countries that we paid in US
dollars to make the things that we consumed and use these dollars for payment to
US contractors to re-build and expand the US infrastructure (Pork Barrel
Projects) in order to reduce unemployment. This money will probably be spent on
imported earth-moving machinery, imported materials (Steel, Cement, Equipment,
Pipe & Wire), new imported French manufactured private executive jet airplanes,
illegal alien labor, outsourced engineering, outsourced CAD drafting, etc.,
and the US workers will still be mostly unemployed, and the foreign
manufacturers will benefit greatly. Any Economic Stimulus Spending should
also prohibit any imported products (even if we no longer manufacture those
products) from being purchased with these funds, and also prohibit all
outsourcing of the Labor Required. What happens after the project ends , and
these temporary jobs disappear? This is a short term solution that will mostly
economically benefit foreign manufacturers of industrial and consumer goods,
salesmen of the foreign manufactured equipment, materials, airplanes, etc., and
the other people working in the distribution of the imported things for our
infrastructure improvements, but the balance of trade will still require sending
borrowed US dollars overseas to pay for these things that we import.
14.1.
Will President Obama also now offer the Republican Congressmen and Senators ear
marked "Pork Barrel Projects" and "Green Projects" such as high speed rail,
bridges to nowhere, etc. in their districts paid for with federal taxes in
return for supporting and voting for his legislative agenda?
14.1.1.
These "Pork Barrel Projects" will have to be paid for with more and more US
dollars borrowed back from foreigners who were paid with US dollars to
manufacture goods by US importers for US citizens to purchase and consume.
14.1.2.
US
government will now need to print and sell more of these freshly printed US
T-Bills, US Bonds, and other currencies faster and faster in order to pay for
the growing US government expenses that are in excess of our federal tax
collections, including new Pork Barrel project spending to create temporary
employment to make President Obama appear to reduce unemployment.
14.1.3.
Most US citizens seem to follow the US government example and just keep
borrowing money to live as high on the hog as possible by using credit card
debt. US citizens think that we deserve to have everything that we desire, right
now, and that we can use US dollars borrowed back from people in foreign
industrial nations who worked to earn US dollars to pay for the things that US
citizens want today.
14.2.
The current US government plan will still require sending more and more
US dollars and title to privately owned US assets overseas in exchange for
purchase of the materials that we will import for our infrastructure rebuilding
and other pork barrel projects.
14.3.
After we have sold title to all of our privately owned US assets to
foreigners as required to settle our foreign trade obligations, there will not
be anything left for the foreigners to buy and then US government not be able to
raise any funds for any re-industrialization of the USA, and the US citizens
will not have any possibility of any employment in their future.
14.4.
The money passed out to the financial industries did nothing to create
any jobs or eliminate the problems with the US economy. Maybe it did help pay
for the sales commissions of the US salesmen for the expensive new French
manufactured private Jet Airplanes with the bailout funds, and these salesmen
spent most of that money in expensive Bars and restaurants. The French people
making these multi-million dollar (Dasault Falcon 20-25) airplanes are probably
very thankful for the US government's generosity.
14.5.
The newspapers say that some foreign industrial nation economies are
re-bounding with fresh manufacturing orders. How many of these orders will be
paid with free or loaned US government bailout money given to the automobile and
other badly managed industries to purchase a larger percentage of each
automobile with foreign manufactured auto parts and subassemblies? The US
workers and manufacturers won not benefit at all from most of this economic
stimulation?
14.5.1.
Additional money loaned to existing businesses might finance more and
more relocating of jobs overseas to make the US businesses more profitable, and
increasing US unemployment.
14.6.
The number of people added to the unemployed rolls each month is probably
reducing because fewer and fewer US citizens are employed, and therefore there
are fewer employed US citizens available to be terminated in order to reduce
labor costs when their jobs are shipped overseas. How many workers are really
added to the un-employment total each month? Should the unemployment statistics
also consider the unemployed whose unemployment benefits have expired and are
still unemployed? If the monthly job losses as reported by applications for
unemployment were 250,000 and another 200,000 had their unemployment benefits
terminated, should this number of total unemployed be increased by 450,000? The
number of unemployed should be the "bottom line" or the actual total unemployed
to be considered.
14.7.
Outsourcing of labor to foreign companies is apparently the easiest way
for a manufacturing company to increase its profit or reduce its losses.
CHAPTER 15
SPENCER'S US ECONOMIC
STIMULATION PLAN
15.
Without extremely high import tariffs, US workers must compete with
foreign workers at very low foreign wage scales. The US government should build
manufacturing plants to make various consumer products in sequence one product
at a time, i.e. refrigerators, washing machines, clothing, TV's, electronics,
tires, auto parts, hand tools, power tools, machine tools, appliances, and etc.
How about passing laws to prohibit the export of service jobs such as
accounting, telemarketing, customer service, computer aided drafting,
engineering, etc. that are now provided by workers overseas through the
internet. Eventually all of the consumer goods that we import could be made in
the USA. We should then impose extremely high import taxes that are high enough
so that these US made products are always less expensive to the consumer than
the same imported product.
15.1.
These plants should periodically and/or constantly be for sale based upon
periodic open public competitive bidding, but at a minimum sale price at least
equal to as much as the government investment, and with terms of cash only
without any creative financing. There should not be any leveraged or other
creative financing for purchase allowed by the government. Only cash sales
should be allowed.
15.2.
The management should know about making the products, not creative
accounting and/or creative financing.
15.3.
Yes, the consumer will pay several times the price for the particular US
manufactured product, but maybe this might avert a second American revolution.
CHAPTER 16
DID FOREIGNERS CREATE
THIS DISASTER?
16.
It is not the foreign manufacturer's fault that this economic condition
exists. US citizens created this condition. US citizens elected legislators that
purposefully destroyed most of our industries that then fired all of their
employees that were employed in the US located factories for various free trade,
economic and environmental laws.
16.1.
Our recent leaders decided that we could get people in other countries to
work and make these things for our consumption if we paid them with US dollars
that were redeemable to purchase freshly printed-paper T-bills, US Bonds, and
other types of freshly printed-paper securities that they could use to purchase
title to any of the privately owned businesses, factories, casinos, hotels,
farms, land,
ports, breweries,
refineries, forests,
ports,
breweries, refineries,
and other privately owned
assets located in the USA that were created by previous US generations.
16.2.
Our legislators of both political parties, importing companies, consumers
that purchase imported products (including myself) because these products are
cheaper than US made products, Ignorant Government Employees, Self Serving
Corporate Managers, Wall Street Financial Genius Master Criminal type
management, NAFTA, EPA, WTO, OSHA, and the buying public just to name a few,
have created this situation. The Government needs to reverse the existing
negative trade balance by any means possible.
16.3.
The US citizens want to pay as little as possible for the things that
they consume. The US Businesses must relocate and/or outsource labor
expenditures as much as possible to reduce labor costs if they want to satisfy
the US consumer's demand for the lowest price possible for the US consumer's
purchases.
CHAPTER 17
FORECASTS OF FUTURE CIVIL
UNREST
17.
Riots and insurrections are predictable, ala the French Revolution and
the Russian Revolution, when the people find their situations economically
hopeless.
Mass unemployment will foster mass civil unrest, crime, anger, riots,
revolution, starvation, etc.
Future federal
nationalization of foreign owned US property and other foreign owned US business
assets, ala Mexico, Venezuela, etc., is another topic for discussion on another
day.
17.1.
If any future US revolution
to overthrow the US government occurs (maybe to change the economic situation),
where will all of the food, fuel, water, sanitation, medicine, and other
necessities to support the population come from after the revolution? These
necessities will not exist after the revolutionary hostilities start.
17.2.
Chaos and total lawlessness will prevail during and long after any US
revolution. Only the very meanest and the most evil will survive in this
climate. We will have then totally destroyed our civilization. We will live like
people in Africa, and we will be made to comply with the will of any and every
armed person that we meet. Will all of the city
residents starve after a revolution? Most of the US urban population is not
intelligent enough to live off of the land anymore. The city dwellers might
foray into the country, kill the farmers, and steal the farmer's food to feed
their own families? Food might become more valuable than paper money.
17.3.
We are approaching that
point of no return,
which I will define as the
point where we have sold all of our privately owned assets to foreign owners to
pay for our imported products that we consumed and our silly government
expenses. After foreigners own all of our wealth and US locates assets, we will
no longer have any economic or intellectual resources available for
re-industrialization.
17.4.
In the 1960's the USA was worried about surviving a Russian nuclear
attack. I took a U S Army course called "Environmental Engineering". The Army
course was not about the earth's ambient environmental quality, but about
administrating the environment within a nuclear fallout shelter during and after
an atomic war. This included survivors taking turns foraging outside of the
shelter after the radiation levels reduced to levels that would allow short
duration forays out of the shelter, and how to re-establish civilization after
radiation levels decayed to allowable levels.
17.4.1.
The instructor taught us the official course material indicated that
human beings would compete with each other (like animals) for the scarce amount
of remaining canned goods and the other few remaining resources, and that these
competitions for resources would result in death struggle animal behavior
between the remaining human beings for available remaining resources. The course
material implied that only the strong and most resolute (the most evil, ruthless
and determined) would ultimately survive.
17.4.2.
The Officer teaching the course stated that his personal belief was that
human beings would rise to the occasion and take care of each other, in lieu of
the deathly competitive behavior predicted by the Psychiatrists who wrote the
course material. I also look for the best in human behavior, but I have
deliberated over this question ever since, and have not really made up my mind
as to who might be the most correct.
17.4.3.
I believe that human behavior after an economic collapse might be similar
to human behavior after emerging from a nuclear fallout shelter.
17.5.
US citizens no longer believe that we are our brother's keeper. We have
become a mobile society that has no permanent neighborhood roots or sense of
community relation to one another.
17.6.
If any future US revolution to overthrow the US government is successful
and occurs for some valid reason (maybe to protest the economic situation),
where will all of the food, fuel, water, sanitation, medicine, and other
necessities to support the population come from after the revolution? After a
revolution will US citizens all starve if we are in a city? The US population
cannot live off of the land anymore. Will the US citizen city dwellers foray
into the country, kill the farmers, and steal the farmer's food to feed the city
dweller's family? Will foreigners hire the unemployed US military (and maybe
various city policemen) to keep the US population under control, or to regain
control, and/or to re-establish law & order after an economic collapse and
resultant civil unrest?
17.7.
After the US economy is totally and completely destroyed by both
political parties and when the vast majority are unemployed with no prospects
for future employment, and when the citizens have no confidence in the
government, the US citizens might listen to a charismatic politician who will
promise the nation into a new government (Reich) that will correct all of the
real and imagined injustices that are hurting the citizens in return for
absolute political power and suspension of the US Constitution. I believe that
Martin Luther King stated something to the effect that "Everything that Adolph
Hitler did was legal."
17.8.
Fixing the economy RIGHT NOW
might prevent a future second American Revolution.
CHAPTER 18
FUTURE US DOLLAR BUYING
POWER
18.
The Chinese Yuan paid by
Chinese business owners to their US employees in the future might be the only
currency with any value (to buy food, rent or anything else) after the US
dollar's buying power goes to zero due to the current US government economic
policies.
18.1.
The foreign owners of US
businesses will probably be the only source of currency with any buying power to
pay the US military to install and/or enforce some foreign version of law and
order upon the US citizens. If the unemployed and hungry US military are
available and their families are hungry, they will accept food from any source
in return for their allegiance and services.
18.2.
"Power comes out of the
barrel of a gun?" Mao was only partially correct because a strong economy is
also necessary to arm, feed, support, house, pay and otherwise maintain a strong
military force. The soldiers need to be happy, or they might overthrow whatever
government might be in power at that particular time. China now has the strong
economy and is rapidly building their military technology and military might
that will surpass the military capability of the USA in the very near future.
18.3.
If the USA decides to pirate
(steal or nationalize) all foreign owned property, ala Mexico in the 1960's,
Venezuela in the 1990's, etc., China will probably be able to enforce their
property rights with appropriate punitive military action against US citizens on
US soil if their military capability exceeds the USA military capability,
especially if they can provide food and pay in some valuable currency to the US
military for their services.
18.4.
If our economy collapses, there will be not be any jobs for anyone at
present wages. When we have destroyed the purchasing value of the US dollar, you
might make $300.00 per hour but a loaf of bread might cost $5,000.00 if you can
find one for sale.
18.5.
Most US citizens, including all of my immediate family members are
unconcerned about the overall big picture. They believe that the party will go
on forever with the citizens of industrialized nations paying the bills for the
consumption of US citizens in return for title to everything of value in the
USA.
CHAPTER 19
HOW CAN THE USA
RE-INDUSTRIALIZE NOW?
19.
How can the USA ever possibility restart our industries
(re-industrialize) to re-create jobs and also generate a positive balance of
trade that will restore our economy? Most of the people who knew how to operate
the US basic industries and factories were discharged or fired decades ago and
might now be long dead and buried. There are no books that completely tell
everything about how to do most of the things that we knew how to do years ago
when we created the industries that won WWII and then gave us this bountiful way
of life.
19.1.
The USA
needs more technical and science oriented citizens
that will be able to create many new innovative products and services that we
can sell or exchange in return for foreign owned currency and/or Gold. We need
to import foreign owned US dollars, foreign owned foreign currency, and foreign
owned gold in return for purchase of the US produced products that future US
manufacturers might export, instead of exporting our dollars and gold in
exchange for foreign manufactured (imported) products. When the time comes that
people in foreign nations no longer accept our freshly printed paper dollars to
pay for our imported products (and our government activities), we will be in
deep trouble with no quick way out.
19.1.1.
We must act now while we can still buy foreign made materials and foreign
made equipment for the re-industrialization of the USA with the remaining
purchasing power of the dollar before we have redeemed all of the exported
currency for title to all of the remaining existing privately owned US assets.
19.1.2.
The buying power of the dollar will become zero when there is nothing
left for the foreigners to buy with the dollars that they earned by making our
consumer goods.
19.1.3.
I do
not have confidence that the USA citizens still have the knowledge and technical
capability to re-create our factories for manufacturing, innovating and
designing any new products for export as required to reverse our trade balance
and restore the value of the dollar.
19.2.
After the
American revolution, the USA instituted extremely high import tariffs
to encourage the industrialization of the USA, and it was successful in
establishing a positive balance of trade, accumulating Gold reserves, creating a
manufacturing base, creating a technical data base, and making the USA
independent from England for technology.
19.2.1.
One way or another we must stop the selling of title to everything of
value that is privately owned in America as required to raise money to pay for
government expenditures plus pay for the things that we import and then consume.
19.2.2.
We must create a positive balance of trade by any means possible. If not,
we will destroy the purchasing power of the US dollar.
19.2.3.
Without import tariffs, most all products will be available for less
money if they are manufactured in foreign countries where labor costs are
minimized. The US labor force has no future without high import tariffs to
prohibit foreign imported products.
19.2.4.
Without high import tariffs, US workers must compete with foreign workers
at or below foreign wage scales for employment in the USA. Most USA citizens do
not want to work for wages that the same job in a foreign country would pay.
19.2.5.
Until we re-industrialize and correct our foreign trade imbalance, and
eliminate our federal government borrowing to pay expenses, we cannot afford to
have free trade because it will destroy the US Economy.
19.2.6.
After the American Revolution there were probably many shopkeepers that
imported goods from England and they probably objected to having to deal in more
expensive US manufactured goods.
19.2.7.
The US importers and retailers of foreign manufactured imported retail
products will probably object strenuously when and if the US Government
prohibits them from importing the foreign manufactured products that they sell
to US consumers.
19.3.
Until the USA can re-industrialize and correct our foreign trade deficit,
and eliminate our federal government borrowing to pay for government expenses,
maybe we cannot afford to have free trade because it will continue to totally
destroy the US economy.
CHAPTER 20
US FINANCIAL PRODUCTS
20.
Maybe all of the recently created new financial products, and similar new
toxic asset products created by the master financial criminal geniuses that
created the derivative and other junk bond type paper securities out of the thin
air should require a separate application and a separate license granted by the
SEC for the existence and/or sale of each and/or any new financial product. And
maybe the SEC should grant license only to any of them that have some intrinsic
collateral value, are easily understood, transparent, forthright, and not
deceptive in their sworn financial statements. The SEC should also require a
study to justify the need and safety of any new derivative type instrument
created, similar to an Environmental Impact Statement. When the financial risks
are several layers or completely removed from the title to the actual asset that
has some actual collateral value (like a Mortgage, Bond, Stock Share, Promissory
note), and this instrument is insured from most of the investment risk, how much
due diligence will an investor perform before he will commit to purchase, as
compared to the investing into a primary mortgage or similar instrument that is
collateralized for the event of failure? If I were driving a car without
insurance, I would probably drive more carefully than if I had insurance since
my exposure for loss is lessened with insurance. Maybe we would be better off
without any of these recently created new financial (Toxic Asset) products that
required the US government to guarantee to the foreign parties that bought them.
Are these recent "freshly printed" financial products similar to an incurable
disease, because once they are created, they destroy the basic economic
foundations of the US economy, and other financial geniuses emulate these others
and create even more of these various attractive toxic assets.
20.1.
I
believe that Martin Luther King stated something to the effect that "Everything
that Adolph Hitler did in Germany was legal." I believe that all of these
financial transactions were probably legal. We need to change the laws if we
want these actions to be illegal.
20.2.
Financial
Institution Bailouts:
The
industries that employ people to produce actual products and commodities for
consumption and plus an excess of these products for foreign export in exchange
for foreign currency contribute to the basis of the National Wealth as reflected
in the purchasing power of the US dollar should have government support. Wealth
that should be created for future US generations, and not sold to foreigners so
that we can afford to not work. The US government policy is apparently to
destroy the manufacturing of consumer goods in the USA through Free Trade. There
is not much industry left in the USA.
20.3.
These Wall Street financial genius failures are spending the Toxic Asset
Recovery Program (TARP) bailout money so that they can continue their reckless
behavior without any penalty for any of their past or future financial mistakes
and/or failures. The federal government TARP economic bailout money is currently
being wasted to pay for the golden parachutes, private parties, expensive
vacations, new jet airplanes and bonuses to these same highly paid incompetent
(maybe criminal) executives that caused these economic problems. These
incompetent, arrogant, stupid, and selfish executives took so much personal
money from the financial markets that they caused the systems to fail. The lowly
paid US citizens is paying his hard earned taxes to them to continue their bad,
inept, stupid, and maybe criminal business policies that caused this crisis?
Should taxpayer money pay off the bank loans that occurred when these financial
geniuses borrowed money to pay stock dividends, in order to artificially drive
up the stock prices, which personally enriched themselves through their stock
option plans? How can we get rid of these financial geniuses that caused these
problems without costing the taxpayer any more of his/her hard-earned tax money?
They are still on the job when they should be unemployed and living under a
bridge.
20.4.
The
financially astute and highly successful Arthur Anderson/Enron group and their
leaders here in Houston, filed fictional, false, and/or deceptive financial
statements with the Security Exchange Commission that they swore to represent
the truth. They successfully perjured themselves when testifying about financial
facts, and generally lied about almost every compliance document that they
created and submitted to the SEC for many years. It was a miracle that these
criminal actions were even discovered. The officers and leaders suffered very
little penalty when they finally did get caught and subsequently convicted. They
will not rot in prison until they die as a deterrent to future prospective
Financial Genius "Master Criminals".
20.5.
The
financial practices of our Enron executives, Bernard Madoff, Allen Stanford,
Scott Rothstein,
and
many other Wall Street financial wizards are also examples for the current
business school students to study and learn how these people got rich, to
emulate these people in their own financial careers without being caught. These
Students will study to learn how to avoid being caught while amassing their own
financial fortunes.
20.5.1.
Did Ken Lay really die in Colorado and then be cremated, or was there
some homeless person that fit Ken Lay's general description cremated instead of
Ken Lay?
20.6.
The management of these failed financial institutions should mostly all
be fired, especially their CEOs and leaders, and not rewarded with cash bonuses
by the US government with borrowed money. This bailout is rewarding these
incompetent managers with continued employment and even large cash bonuses to
these managers that caused the failures. Why should these managers work hard to
investigate anything to do with their financial decisions and/or investments if
the US taxpayer will pay for their mistakes? They will still get their big cash
bonuses. Did their friends get commissions for selling these bad investments?
Were there any kickbacks to financial institution employees who approved these
transactions? Why are the financial institution personnel that made these bad
decisions still employed? Why is it necessary for financial institution not to
become bankrupt? Why does the taxpayer have to pay for these bad judgments and
stupid actions? If they went bankrupt and all of these managers were out of
work, it would be an incentive for managers of other companies and other future
managers (and individual investors) to become more cautious of what they buy in
the way of mortgages, securities, bonds and other investments. TARP and other
bailouts using taxpayer money should not have ever been paid as bonuses to
anybody, as some financial institution apparently did with some of their TARP
money. The amount of TARP money should also not have depended upon how many
dollars in political contributions that financial institutions gave to either
and/or to both political parties. Some of these political contributions were
even "donated" to various politicians after these same companies received TARP
money.
20.7.
None of the Wall Street financial firms should have ever gotten any of
the free taxpayer bailout money. The US government rewarded their irresponsible,
stupid, inept, careless, and maybe criminal Wall Street actions with free
taxpayer money. A financial failure and loss of investment would be an incentive
for these and other future investors to become more cautious of what they buy in
the way of mortgages and other investments. A financial failure would cause the
investors to become more skeptical concerning anything that the financial
experts have to say (usually lies). We need for this financial penalty to
happen. They are spending the TARP bailout money on bonuses for themselves, and
new larger (foreign manufactured Dassault) private jet airplanes so that they
can continue their reckless behavior without any penalty for failure.
20.8.
The Stock Markets are just gambling Venues for the public to make
gambling wagers (investments) in ownership of publicly traded companies,
securities, loans, and other investment vehicles. Investors just lost some of
value of their investments, and there is nothing wrong with this loss since the
value was speculation over and above the Balance sheet value of the companies.
The investors should not have believed anything that their brokers told them
about those or any other investments. If you review almost any of the SEC
filings (on the EDGAR database) you will find almost all of the sworn
information filed with the SEC is extremely false, most especially when you get
away from the "Blue Chip" stocks.
20.9.
It irritates me when my banker refers to Banking, Stock Trading,
Insurance and other financial businesses as "industries", since they do not
create anything, except worthless paper toxic asset financial "products". The
Wall Street Stock Exchanges and Banks are essentially corrupt and should be
allowed to close in Bankruptcy.
Wall street is too corrupt and inept to be salvaged.
Stocks should be delivered to the registered owners.
CHAPTER 21
US BUSINESS FUTURE
21.
Successful CEO’s and other executives with stock options (to buy a
defined amount of their company stock at the price it was when they were hired,
and then sell the stock if they elevate the price of the stock during their
employment) have incentive to inflate the stock prices by any means possible,
especially borrowing money and mortgaging various assets to pay increasing stock
dividends in order to make the Price/Earning ratios more and more attractive
even though the net worth of the assets per share is diminishing by their
actions. These executives usually cash in their stocks at the inflated prices
and then exit their companies to let others watch the stock prices fall when the
limits of the asset loss becomes noticeable and operating maintenance costs
increase due to deferred maintenance. These executives will also inflate the
book value of real estate assets, goodwill, and other intangibles to offset the
increase in liabilities such as loans on assets that are dispensed as
dividends. This practice should stop and the incentives for executive
performance should be based upon increases in the net worth of the company, not
the amount of hype and public relations that inflated the company stock price.
21.1.
The Economics and MBA educated executives running our Large Public traded
Corporations usually know nothing about making the product that they are in
business to produce, but they do know how to borrow money and re-finance
existing assets, pass out money to pay increasing dividends in order to run up
the company stock prices that inflates the value of their stock options,
stop/postpone or minimize maintenance costs to increase profits, and then leave
the corporation with large performance bonuses before the postponed maintenance
requires massive plant equipment replacements.
21.2.
I believe that all of these various public traded US Corporations should
abandon Wall Street, buy and sell their company stocks themselves. This would
then allow new stock brokerage firms to be created and evolve with tighter
regulation and more penalties to prevent future Wall Street type criminal
atmosphere of entitlement and above the law attitude. These new trading
exchanges should evolve, preferably in cities other than New York City such as
Houston, Atlanta, Dallas, Chicago, or some other different location that might
be a better location for a clean new start with less of the Wall Street
prevalent culture of criminal activity and entitlement. These new stock trading
exchanges could evolve with new and different rules and regulations that would
prohibit the criminal excesses of the Wall Street Master Criminals.
21.3.
We
need new federal legislation to make one single individual (President, CEO,
Chairman, etc.) in each corporation criminally responsible for the accuracy of
each of the company financial statements that are filed with the SEC, whether
the filing is intentional or not intentional, knowingly or unknowingly false or
misleading. This person needs to go to prison for a long term if there are any
intentional or un-intentional false statements sworn to as a part of any SEC
filing.
21.3.1.
Many
more crooked CEOs need to be in prison for long periods of time.
21.3.2.
A
CEO stating that he did not know anything about the company or that he relied on
others should not be a "get out of jail free" card as it is now.
21.4.
We
also need to new legislation to re-create the Glass-Steagall Act (GSA).
The Glass-Steagall
Act (GSA) was enacted during the Great Depression in 1933. It protected bank
depositors from the additional risks associated with security transactions. This
act was repealed in 1999 by congress and approved into law by President Clinton.
(If George
Bush was president, he probably would probably have also repealed the GSA if his
political campaign contributors had also requested that he repeal GSA).
Consequently, the
distinction between commercial banks and brokerage firms is not distinct, and
many banks own brokerage firms and provide investment services to their
customers. The Gramm-Leach-Bliley Act repeal eliminated the restrictions against
affiliations between commercial and investment banks.
This country does
not need more Enron Type Master Criminals and Arthur Anderson type criminal
accounting firms that will submit more perjured SEC filings to create more
economic miracles.
Furthermore, the
Gramm-Leach-Bliley Act allows banking institutions to provide a broader range of
services, including underwriting and other dealing activities.
21.5.
Accounting
Standards: Why
does the US Accounting standards allow "Goodwill & other Intangibles" to be
placed onto a financial balance sheet. These are almost as bad as listing Enron
un-audited LLP's as assets on their balance sheet that was certified by a CPA
that was supposedly stating the financial value of that particular company at
that time with their SEC financial statements. These sworn financial statements
were later discovered to be fiction. Maybe a company whose customers tattoo
company logos onto their bodies (ala Harley-Davidson) could claim some Goodwill,
but I cannot think of any other situation where brand name or goodwill has any
monetary value at all. (well maybe Coca Cola, Tide, and a couple of others).
CHAPTER 22
HOME MORTGAGES
22.
Many people got loans for houses they could not afford, and these people
should lose their houses in foreclosure. The Federal Government might have
pressured the Mortgage Markets to give mortgages to people with bad credit
histories. Financial Managers combined multiple numbers of these low quality
loans into packages (of low quality loans) and sold them to investors at
(almost) face value. These Financial Managers got multi-million dollar
(non-refundable) bonuses for their efforts. As more and more of these sub-prime
non-credit worthy mortgagees defaulted, the value of these packages of multiple
mortgages diminished drastically. The US Taxpayer is now being asked to pay for
these financial mistakes.
22.1.
The California real estate values should plummet to a fraction of their
present sales prices. The $500,000.00 South LA crack house with a $495,000.00
mortgage, roof leaks, no air conditioning, and no plumbing owned by an
unemployed person (i.e. crack cocaine supplier) might now sale for $15,000.00
and that might be closer to the actual retail market sale value. No more
"Flipping Houses". No more real estate financial geniuses. No more
get-rich-quick real estate seminars.
CHAPTER 23
US ECONOMIC FUTURE
23.
We have met the enemy and it is ourselves. There is nothing more
saddening or devastating than mass unemployment such as existed in countries
such as Mexico or Asia in the last century. I have visited Asia several times on
Business in the last part of the 20th century. Crime, family abandonment,
divorce, selling your own 12 year old (and younger) daughters for the equivalent
of about $45 in the 1990's for 10 years of indentured servitude to the brothels,
selling your 12 year old sons to the rug weavers for about the same price, and
other bad things increase during these periods of economic difficulty. Our basic
industries such as steel, computer chip manufacturing, petrochemical refining,
appliance manufacturing, tire manufacturing, automobile parts manufacturing,
aircraft manufacturing, textiles, and etc. have been decimated and/or totally
eliminated from this country by US government environmental laws and trade
treaties.
23.1.
The USA
must re-industrialize.
Even if we started to re-industrialize today, it would take decades to re-create
the scientific, engineering, manufacturing and industrial production bases that
we destroyed in the past few decades.
23.2.
Without re-industrialization, the USA is destined to become an
impoverished nation of unemployed, starving, and homeless musicians, poets,
historians, literature experts, philosophers, social workers, psychologists,
MBAs, economists, political scientists, journalists, and other individuals that
did not contribute to correcting the economic problems of the USA. We needed to
correct the Foreign Trade Deficit, which is the structural foundation portion of
the US Economy.
23.3.
New environmental cleanup jobs created by the EPA are nice, but they are
about as economically useful to correcting our negative trade balance of
payments and re-building our industrial base as paying people for raking leaves,
digging holes and re-filling the same holes, flipping hamburgers, selling
insurance, etc. These actions do not produce anything economically useful that
we can consume and/or export.
23.4.
The arts are less important than food & shelter. The arts are less
important than security (Army & Police). The arts are less important that the
balance of trade that affects our value of our dollars. The arts are less
important than manufacturing products for export that will improve our balance
of trade position. The arts must take a back seat to necessities. We must set
our spending priorities upon the basis of what is necessary, not what is nice to
have.
23.5.
Is the good life in America gone forever? Both major political parties
act in the interests of the importing companies who profit by importing,
transportation, distributing and retail sales of imported foreign manufactured
products. These US importing companies pay companies and individuals in foreign
countries with US dollars to manufacture things that these US businesses import,
distribute, and then sell to the US consumers. Manufacturers such as GM, Ford,
GE, Chrysler, GE, Westinghouse and etc. manufacture vehicles, appliances, and
equipment made with imported parts that they paid the companies in the foreign
countries with US currency to manufacture these parts for assembly of the
finished product in the USA that is then sold to US consumers. A very high
dollar value (percentage) of USA assembled products are made with imported
foreign manufactured parts and/or sub-assemblies. The consumer is also guilty of
destroying US manufacturing.
23.6.
The US public needs a bigger economic pie, not a bigger piece of the
remaining economic pie that is shrinking daily. The US government is selling
title to everything of value in our country to foreign manufacturers and their
governments, and the US government is calling this "Investing in America".
23.7.
Taxes on overseas earnings
will be just the incentive needed for more US corporations to relocate their
headquarters overseas. (It is not really that simple)
23.8.
My wife believes that the
government has secret economic plans that will prevent any economic collapse,
and that we do not need to worry. Most people believe that all they need to do
is to be optimistic and things will take care of themselves.
CHAPTER 24
US POLITICAL LEADERS
24.
Selecting USA political leaders: I remember a guy named Ross Perot who
looked like Alfred E Newman from the Mad Magazine comic books and talked through
his nose. He ran as a third party candidate against President Bush 41 and
President Bill Clinton, I think that it was 1992 and he got almost as many votes
as either of the major party candidates. He had the right message but he was the
wrong messenger. He was also not attractive, and I sadly believe that a lot of
the American people vote based upon looks more than intelligence or policy. He
had a lot of graphs and charts to indicate his points. I remember him saying
that "NAFTA will suck the remaining jobs out of the USA". He might have been the
last chance to preserve the US industry and economy.
24.1.
I remember presidential candidate McCain stating something to the effect
that he was not interested in economics during the first part of the 2008
presidential campaign shortly after he was nominated, so I voted for President
Obama, I respected McCain, but he was no choice for the economy of this country.
24.2.
Both political parties are responsible for the enormous foreign trade
deficit, the even larger federal spending deficit, and for allowing Wall Street
to create of our economic business mess. Neither of the major political parties
seems to understand the problem, and the solutions are so simple.
24.3.
Years ago engineers, medical doctors, farmers, and people in professions
other than lawyers also became politicians. Jimmy Carter was probably the last
engineer president, and he was a disaster for everything. Congressman Ron Paul
is a MD.
24.4.
We must replace the "Free Trade" legislators with new people who will
install Import duties that are high enough to prevent imports.
CHAPTER 25
US TRADE BALANCE
CORRECTION
25.
It does not matter how we reverse the balance of trade as long as we stop
the flow of gold, dollars, T-bills, Government Bonds, title to US located
properties, and other privately owned US assets from the USA to other countries,
in payment for the things that they make for us to consume, and stop borrowing
additional quantities of their US dollars to pay for our government operational
expenses.
25.1.
After industrial nations and foreigners own everything of value in the
USA, the USA will become a third world nation of unemployed beggars.
25.2.
We
will soon have sold foreigners title to all of the US property and businesses in
return for their making things for US citizens to consume and to
to pay for our government
operational expenses..
US citizens will keep busy cleaning up our environment, suing each other, and
inventing new (worthless) financial products until the very end, and then the US
citizens will ask each other, "What happened?" when there is no food or gasoline
available.
25.3.
Everything of value in the USA will very soon be owned by foreign
industrialized nations. The purchasing value of the dollar will go to zero as
the US government speeds up the printing presses to cover US government
expenses. Our military, police, firemen, and etc will get paid in freshly
printed US dollars that will not be accepted in grocery stores or any other
retail venue. These public servants will probably walk off of the job, and
somehow try to feed their own families. Chaos and total lawlessness will
prevail. Only the meanest and the most evil will survive in this climate. We
will have then totally destroyed our country.
25.4.
The
Chinese Yuan might be the only currency with any purchasing value (to buy food
or anything else) when the US dollar's buying power goes to nothing.
25.5.
"Power comes out of the barrel of a gun?" I think that Mao was only
partially correct because a strong economy is also necessary to support and
maintain a strong military. The soldiers need to be fed and paid, or they might
overthrow whatever government might be in power. China now has the strong
economy and is rapidly building their military technology and military might
that will probably surpass military capability of the USA in the very near
future. If the USA decides to pirate (steal or nationalize) all foreign owned
property, ala Mexico in the 1960's, China
will be able to
enforce their
property rights with appropriate punitive military action onto US citizens on US
soil.
25.6.
The
USA is approaching the point of no return, which I will define as the point
where we have lost the economic capability to re-industrialize.
25.7.
Fixing the economy right now might by reversing the trade
deficit might prevent a future revolution.
CHAPTER 26
INTERNATIONAL INFLUENCE
26.
Is there a New World Intellectual Order conspiracy? If there is, how does
any member of any silly New World Intellectual Order think that they can rule
without economic and military might? If there is a great social upheaval, ala
French Revolution or Russian Revolution, there will be total anarchy, and only
the evil, the strong, the unscrupulous, the most determined, and the most
unmerciful will survive. If these New World Order Illuminati, Bilderbergs, etc.,
are not personally armed, and/or protected by heavily armed mercenaries, they
will probably become some of the first casualties of any such revolution. Europe
is becoming more impotent than the USA, and both will very soon be of no
consequence in world affairs.
Why would anyone
care anything about the NWO, Illuminiati, Bilderbergs, and/or any of the other
silly intellectual conspirators if these conspirators are not backed by an armed
force? Would the anyone even return their telephone calls? I think that most
intellectuals believe that they can reason with an angry rebel and/or bandit who
wants the intellectual's food, weapons, house, wife, daughter, or etc. These
intellectuals will probably be killed at their very first verbal contact with an
anarchist. They need to keep their voices quiet and submit to the armed and the
violent people if they desire to live.
CHAPTER 27
IF GOD DOES EXIST, HE
WILL NOT SAVE USA
27.
Religion, superstition and other supernatural beliefs have very little to do
with whether or not the USA survives.
I believe that the founders
of this country wanted freedom from religion, not the official forced European
taxpayer state supported religion. There were mostly atheists and agnostics that
signed the Declaration of Independence. There were very few practicing
Christians and no known clerics of any religious denomination that signed the
Declaration of Independence. Most of these signers were also Masons. The
Christians that participated in the founding of this country were only a small
minority of the participants. I am a Christian, but I do not believe that this
country was founded as a Christian nation. The constitution does not establish
any religion.
27.1.
I do not know much about the Masons except that I have heard (on the
history channel) that they were founded to protest the murder and physical
torture of innocent people (including the Knights Templar) by the various
Christian religions of Europe. The History Channel hints that maybe the Masons
are somehow associated with the Knights Templar. I would like to learn more
about this.
27.2.
The Catholic Church conducted Inquisitions in Europe that resulted in
torturing and executing many innocent people for various religious violations.
All of those were probably innocent.
27.3.
There were also various Protestant religious groups in the US that were
torturing and executing innocent people for various religious reasons at the
time of the American Revolution. I believe that the founders wanted freedom of
religion to also mean freedom from allowing various religious Christian people
to burn people alive, to hang people, to crush people, to drown people and use
other unusually cruel and inhumane methods to inflict horrible punishment and
death upon those that they considered to be sinners, witches, heretics or etc.
27.4.
We should fight to eliminate the income tax deductions and the property
tax exemptions that are granted to religious groups by the federal government
and by the various states, counties and municipalities. These free rides
increase the tax burdens onto all of the non-exempt taxpayers. Church property
should not be exempt from paying local property taxes. The Churches call police
when they are the victims of a crime, call the fire department when they have a
fire, demand city water and sewer services, street lighting, paved streets, etc.
Most local authorities provide exemptions from local taxes for religious owned
property and charge the remaining property owners an increased amount to pay for
serving the church properties. This is then taxpayer state supported religion.
27.5.
The Clergy enjoys the rights and freedoms that are guaranteed by our
government with our armed forces. They should pay their fair share for the
support of the military forces and the judicial system. They should also pay for
the government welfare programs that all other taxpayers are forced to support.
The Clergy should pay taxes upon the value of all of the things that they get as
perks from the churches such as free housing. The remainder of the taxpayers
must then pay more taxes in order to make up the amount of taxes not paid by the
clergy. The next thing the clergy will want is to be a part of the government
with legal power to burn, torture and kill those who do not agree with their
brand of religious beliefs.
27.6.
As an ex-Baptist, I believe that some of the Baptist preachers could make
the Catholic Inquisition Court members look like amateurs when it came to
spilling the blood of sinners, torturing and/or burning people alive when they
are not in agreement with the clergy.
27.7.
The Roman Empire grew and prospered until Constantine established
Christianity as the state preferred religion in about 312AD. The Empire ceased
to exist a few decades after it accepted the altruistic principles of the
Christian religion. Adopting Christianity as the preferred state supported
religion was probably the main cause of the collapse of the Roman Empire.
27.8.
I believe that when any tax exempt organization collects funds from
senile little old widowed ladies (like my mother) and then use these dollars to
buy expensive vacations, luxury cars, grand large houses, pedophile sexual
activity lawsuit settlements, expensive mistresses, and/or similar expenses,
this is a great sin in my opinion.
CHAPTER 28
US ECONOMIC TRADE POLICY
28.
The USA needs to withdraw
from all international trade treaties and place a high import duty or tariff
on all imported products in order to re-create the manufacturing industries and
the jobs that these trade treaties and our government destroyed over the last
few decades. Yes, everything will cost the consumer seven times as much, but
this might prevent another revolution.
28.1.
The US government has
allowed, and maybe even encouraged, US Importing Companies, US Corporations,
Wall Street Financial Geniuses, Business Manipulators, Enron-Arthur Anderson
type Master Criminals, and others to out-source most US jobs to foreign
countries where labor costs are a small tiny fraction of US citizen wage and
benefit expectations.
28.2.
Both of the major political
parties are responsible for this unemployment rate. Maybe it is time for a third
political party if the two major political parties believe that unemployment and
re-industrialization are not important to the USA economy.
28.3.
Our political Leaders must
lobby loudly and become persistent in their quest for implementing extremely
high import tariffs on all imported goods, and repeal of the NAFTA, WTO, and IMF
treaties. We might also consider and threaten complete withdrawal from the
United Nations.
28.4.
The US government is "piling on" more and more new environmental costs to
the factories that remain in the USA every year after year. "Cap and Trade" will
not be the last environmental cost that the US government will "pile onto" the
remaining US located industries.
28.5.
The remaining US industries can expect that the US government will
continue to add more and more environmental regulations and costs until all of
our US located industries have been relocated to foreign countries, and all of
their employees are laid off and unemployed.
28.6.
US industries probably anticipate that new environmental regulations will
be piled onto their operational costs in the future by the EPA, and this
subjective attitude might finalize their economic decisions to relocate their US
plants overseas and then lay off their US employees.
28.7.
If the various industries can produce their products cheaper in foreign
countries with reduced environmental and labor costs, why would they ever elect
to stay in this country?
28.8.
There will not be any Middle Class in the USA without Jobs.
The
US government passed "Free Trade" laws that allows US businesses to move their
US factories overseas and lay off all of the US employees in order to reduce
their product prices (and increase their profits). Why blame the businesses? If
a business's competitors take advantage of cheaper foreign labor costs, then the
competitor will have less expensive products, and the business with the more
expensive products will go bankrupt because the US consumer will not buy the
more expensive US made product. Both political parties and their political
contribuitors (and the various importers lobbyists) directed our lawmakers to
remove import tarrifs that protected the jobs of US citizens working in US
industries. This action then created "Free Trade" wnich is the cause of most of
the US factory closings and job losses to overseas locations. The US jobs are
not going to be recreated without "Exrtemely High Import Tarrifs" that are high
enough to prevent imported products. What do you think that the future of the US
worker will be? I do not know where to buy any US made products anywhere any
more.
CHAPTER 29
NATIONAL SALES TAX
29.
Do not replace the existing tax system with anything that is subject to
easy revision such as a flat (income) tax. This will only be modified by
congress until we get back to what we have now. Why not have a national sales
(consumption) tax, disband the IRS, and fire most of the IRS employees. Call
this a "Value added tax" or a "Consumption Tax" and it will be easier to sell to
the US public.
29.1.
Make New Products, New Vehicles, New Houses, New House Additions &
Improvements, Fast Food, pre-prepared food from grocery stores, Restaurant
Charges, Sports Tickets, Entertainment Expenses, New Vehicles, New Boats,
Building Materials, all labor, and other similar new purchase items taxable.
29.2.
Make uncooked food, used clothing, rent up to a minimum amount, and any
similar items exempt to help the poor.
29.3.
Businesses would also pay these taxes on new plant constructions, new
plant expansions, plant maintenance supplies, replacement parts, consumable
office supplies, and other similar expense items that are used in the
manufacture of products (and not re-sold).
29.4.
Utilities consumed in manufacturing products for retail sales,
maintenance labor, operating labor, administration Labor, manufacturing labor,
would be exempt from consumption taxes since these tax costs will be collected
at the retail sales level.
29.5.
Wholesale materials, parts, etc. that are re-sold should not be taxed
until the final sale is made to the end user or retail consumer (like state
taxes). If you buy a used house, you pay no sales tax, but when you remodel
and/or improve it, you pay sales taxes on the material, and on the labor as you
obtain these items to improve the value of your property. You do not pay taxes
on the increase in appreciation value, and this might be a break or incentive
for people to buy houses rather than rent.
29.6.
Foreign Exports could be taxed at a different rate, or maybe not taxed at
all to make our export products less expensive to foreign buyers and this might
improve our balance of trade,
29.7.
Generally each item produced shall pay taxes only one time when that item
is newly manufactured and sold into the market to the final user and/or retail
consumer. Pay the states to collect these taxes (these systems are generally in
place) and minimize the number of federally paid employees collecting taxes.
29.8.
Make the sales tax one time on new cars, and then no additional sales
taxes on the subsequent times that the used vehicles are sold. Tax new parts and
maintenance labor as these expenses are applied to these used cars.
29.9.
Make the sales tax one time on new Houses, and then no additional sales
taxes on the subsequent times that the used houses are sold, except on the
amount that the sale increases above the previous sale price. Tax the material
and labor used to improve, operate and/or maintain these houses after the
initial purchase purchased, and reduce these taxes from the taxes due for the
next sale.
29.10.
Repeal the Tax Code with its special tax breaks for various special
interests, farmers, tobacco growers, dairymen, etc.
29.11.
Taxes on overseas earnings
might be just the incentive needed for more US corporations to relocate their
headquarters overseas. (It is not really that simple)
CHAPTER 30
ENVIRONMENTAL POLICY
30.
The USA is now almost completely de-industrialized, and public pressure
is being applied to eliminate the remainder of our industries and US jobs with
the recent "Cap and Trade" legislation, existing environmental laws, and the
anticipated costs of future environmental legislations that will be "piled onto"
our remaining industries.
30.1.
US industries know that there will be many more future Environmental
Regulations that will require expensive compliance costs. Our US businesses know
that even if they can economically survive the current proposed environmental
legislations, more and more environmental legislation will be "piled onto" them
in the future. If there is an economic life cycle cost analysis that would allow
some US factory to stay in the USA today, the business managers should fire
their US workers and relocate that factory to a foreign country in order to
escape the costs of the anticipated future environmental regulations that the US
government will almost certainly create, and also to take advantage of lower
labor costs and more productive work rules that are available in foreign
countries.
30.2.
Foreigners are now employed in foreign factories as they make more and
more of the things that US citizens are consuming, instead of US citizens. The
US located plant owners have since relocated those factories, equipment, and
those jobs to the foreign countries that have fewer environmental regulations
than the USA.
30.3.
At least US citizens now have cleaner air to breathe since we have closed
down most all of our remaining basic industry factories and terminated the
employment of most of those US citizens that were employed there!
Foreigners can now employed in those factories as they make the things that
US citizens
were consuming. The plant owners have since relocated those factories,
equipment, and those jobs to the foreign countries that have fewer environmental
regulations than the USA.
30.4.
There was an era in the 1960's when people living in Pasadena, Texas
would say that their refinery pollution smelled like jobs, money, food, housing,
and college educations for their children.
30.5.
New Green Environmental jobs are nice, but paying US citizens with US
dollars borrowed from industrial producing nations to then pay US citizens to
keep busy raking leaves, performing environmental cleanups, government payrolls,
social programs, digging a hole in the ground and then filling the same hole,
just does nothing to correct the Foreign Trade Deficit that is the basic
economic structural foundation defect of the USA.
30.6.
I do not like it when a few of us die from polluted air, but this is
better than the majority of us starving to death from economic chaos.
30.7.
The EPA, if it is not disbanded, must be re-organized with orders not to
hamper any re-industrialization of the USA - If the EPA had been created in
1865, the USA would be a third world country of unemployed beggars today, or
maybe a part of Germany or Japan.
30.8.
Some percentage of US citizens are harmed each year by our industrial
pollution, but when our economy collapses, most all of our citizens will be
unemployed, homeless and hungry.
30.9.
If the US economy implodes, the USA will probably resemble India, Mexico,
China, etc., as these countries were in the decades before they industrialized.
I do not believe that any of these foreign countries will help the US citizens
if we are in distress. They view us as fat, lazy, incompetent, not productive
and somehow self entitled to not have to work.
30.10.
If all of our Ship Channel industries close and then fire all of their
employees, Houston will have clean air to breathe. There might be soon enough
unemployed people nationally to cause civil unrest.
CHAPTER 31
GENERAL MOTORS
BAILOUT
31.
I
believe that GM should have gone bankrupt last fall before their previous gifts
of free money from the public money taxpayer. I guess that GM will not give back
any of the money that the US Government took from me previously and gave to GM.
Is there anything of value going to be left after the auto industry executives
and the auto union members have bled their companies to death (bankruptcy)? The
banks probably have mortgage lien on the title to most of the remaining
factories and other assets anyway. If they are allowed to continue to go to the
public feed trough again and again, they will never stand on their own two feet.
31.1.
Should we continue the auto
Industry's bad behavior and outright theft of company money with taxpayer funds?
The additional
$50 billion of Taxpayer funds proposed to be given to the US Auto Industry will
only encourage the continuation of the arrogant, stupid, and selfish bad
business policies of both the US Auto Industry executives and the UAW members.
Why are these same highly paid incompetent executives and the overpaid union
workers continue their featherbed deals, job banks, perks, private jet
airplanes, stupid business decisions, and etc. with taxpayer money.
31.2.
These are the same selfish
people that are responsible and should be fired, unless they know something
about making cars instead of finance. Let other parties buy their assembly
plants and re-start these plants. Maybe we have to let the GM Executives
disappear with the large amounts of money that they took from the US Auto
Industry, but do not let them have another $50billion of Taxpayer Funding to
continue their bad business practices and personal thievery.
GM is probably already in debt up to their ears. Let GM disappear, especially as
a lesson to all of the other financial geniuses that caused these problems. If
these financial geniuses that caused these problems disappear then the UAW
feather beds that they created will also disappear with them.
31.3.
Are these Taxpayer Billions
for the Auto Industry going to fund the golden parachutes and bonuses of the
auto industry executives that caused the crisis? Should taxpayer money pay off
the bank loans that occurred when these financial geniuses borrowed money to pay
stock dividends, in order to artificially drive up the stock prices, which
personally enriched themselves through their stock option plans? How can we get
rid of these financial geniuses and the UAW feather beds that caused these
problems without costing the taxpayer some of his/her hard earned tax money?
31.4.
They do not need any more
Financial Genius Master Type Criminals to manage their affairs.
Are there any more Lee
Iacocca type people in that industry that could revive these sick Auto
Manufacturing companies from their impending deaths? Is Lee Iacocca still alive?
Can Lee Iacocca be drafted into the U S Army and then be assigned to head GM by
the US Government? Lee Iacocca was a mechanical engineer that knew how to
design, market, and manufacture automobiles. He supposedly fought the Ford
financial management tooth and nail to let him build the financially successful
Ford Mustang. Later in his career he was credited with saving Chrysler from
their financial geniuses. I tend to believe that
GM is probably managed by financial geniuses that know how to drain company
assets into their own pockets, but know very little about making automobiles.
31.5.
I guess that the US
Government will not get the previous taxpayer billions of money out of the GM
assets before all other creditors. The US taxpayer should have had priority over
union retirement contracts, union benefits, union medical plans, bank mortgages,
bond holders, preferred stock, medical benefits, etc. and other claims. But
maybe it is like the financial institutions and banks that got TARP money
depending upon their political contributions to the congressmen controlling the
distribution of who gets the free taxpayer earned money.
31.6.
The Clunker Buy Back Program is similar to the government buying cows and
killing them during the great depression when the US population and their
children went to bed hungry. The local auto repair garages will probably see a
drop in their business, and cause an increase in the unemployment of automobile
repairmen.
CHAPTER 32
FUNDING FOR
RE-INDUSTRIALIZATION AND FOR THE RE-CREATION OF A TECHNICALLY QUALIFIED US
CITIZEN RESOURCE REQUIRED FOR RE-INDUSTRIALIZATION
32.
If we want to rebuild our industries, we will need the funding to do it.
Do you really think that any other country in the world will really loan us any
additional loans to re-build our manufacturing capability and then compete with
them for world markets?
32.1.
Will foreign individuals and foreign governments become loan sharks after
we have sold all of our privately owned assets to the foreigners to pay for our
trade imports of the products that we consumed and our gigantic US government
expenses? I just hope it is not too late already.
32.2.
The TARP Funds that the Government borrowed and handed out should have
been spent re-industrializing the USA. The TARP money just allowed those Master
Criminals that created those "toxic assets" and also created the financial
crisis to keep their jobs.
CHAPTER 33
IS GREED GOOD OR BAD?
33.
Please let me define economic greed as "excessively or inordinately
desirous of wealth, profit, etc," in addition to the normal definitions of greed
that refer to desiring excessive amounts of food or drink. I believe that the
desires for sexual pleasure, alcoholic and narcotics euphoria should be added to
the dictionaries that I consulted. I only checked a couple of on-line
dictionaries and did not find those included in the definitions.
33.1.
I have heard some people say that one of the problems with the USA today
is that people are greedy. Were people always greedy in the past? When were
people not greedy? What is the definition of greed?
33.2.
I do not consider your working hard and producing things of value and
selling them to others outside of your family in order to enrich your family as
being greedy? I do not consider that if you start a business and hire some
people to assist you to help make these things and then make yourself more money
defines you as being greedy.
33.3.
I believe most all people are economically greedy, and not primarily
evil. I believe that greed without evil is a wonderful motivator for individuals
to produce wealth for themselves and their family. When greed is combined with
evil it is not acceptable, and should be punished.
33.4.
I believe that economic greed without evil is acceptable and should be
encouraged in my opinion. I believe that most all of the technical advances in
the lifestyles of human beings throughout history have been caused mostly by the
greed of the creators of these scientific and economic advances that benefitted
most all human beings.
33.4.1.
I believe that the Ancient Egyptians were greedy and hoarded their Grain
in Storage as wealth and security for use in times of famine. Did the Biblical
Jacob squander his assets unwisely and then became hungry when a famine
occurred? When the Jacob's family faced starvation, Jacob took his family to
Egypt where there was grain stored and hoarded by the greedy Egyptians to insure
the survival of Egyptians during times of drought and famine. Jacob and his
descendants probably submitted themselves to be slaves of the Egyptians in
return for food and shelter. The Egyptians kept the Israelites as slaves to
build and increase their infrastructure and that increased their agricultural
production capacity in return for food. They probably also used Israelites to
construct pyramids, but this action did not benefit their civilization
economically. This effort was as economically beneficial to their society as
digging holes and then filling the same holes back with the same earth that was
removed to make the original hole. There is probably a financial benefit to
Egypt of today from the tourist dollars spent to see the pyramids. Is the USA
repeating the Israeli action?
33.4.2.
I believe that Henry Ford started mass manufacturing because he was
greedy for more money that would enable his family to enjoy a better lifestyle.
I believe that Henry Ford probably worked 16-hour days to start that industry,
and did so because it would reward him financially. I do not think that Henry
Ford enjoyed it or that he did it to improve his health. I believe that Henry
Ford started that industry for the money because he wanted to enrich himself
financially for the benefit of his family. Henry Ford did not start his industry
to serve or to improve the welfare of other people, even though this was a side
benefit to the US citizens. The US citizens benefitted from his greed.
33.4.3.
I believe that the same is true for Thomas Alva Edison, Alexander Graham
Bell, Guglielmo Marconi, George Westinghouse, Lee Iacocca, and all of the other
smart and industrious individuals that produced the weapons and industries that
won WWII and then employed so many Americans for a few of decades after WWII.
33.4.4.
I started to include Albert Einstein, but I believe that he was greedy
for recognition as a Nobel Prize Winner plus the associated monetary award to
settle his divorce. The History Channel stated that he conceded his divorced
wife a share in the future Nobel Prize money as a part of their divorce
settlement.
33.4.5.
George Washington Carver, Thomas Davenport, George Eastman, Philo
Taylor Farnsworth, Benjamin Franklin, Robert Hutchings Goddard, Rear Admiral
Grace Murray Hopper, Edwin Herbert Land, Cyrus Hall McCormick, Elijah McCoy,
Samuel Finley Breese Morse, Elisha Graves Otis, Jonas Salk, Wilbur Wright and
Orville Wright were also more than likely motivated by greed for financial
rewards, but they also created new technology, benefits and employment for many
US citizens.
33.4.6.
I started to include Dr. Oppenheimer, but according to most of what I
have seen on the History Channel about him, Tanquray Gin Martinis and Lucky
Strike cigarettes motivated him when he was in charge of developing the Atomic
Bombs that won WWII. Some historical data indicates that those two items were
his main source of nourishment. (It apparently worked)
33.4.7.
I believe that the men that started Texas Instruments with their
invention of the semi-conductor worked long workdays, probably took no holidays
and also to satisfy their greed and desire for money, in addition to satisfying
their scientific curiosity.
33.5.
I guess that I can call some people greedy if they do not give me part of
the fruits of their labor while I sit idle and not work. Why should anyone work
hard for the benefit of others that are not for themselves and the members of
their family? Are the workers greedy for not sharing their products with me? Am
I greedy for some of what the worker produced while I sat idle? Am I greedy to
tax the worker and threaten him with prison if he does not give me some of the
products that he produced? Am I evil to demand that he work while I consume what
he produces?
33.6.
There are some people in this world that I would describe as evil, rather
in addition to being greedy. I consider those individuals that take advantage of
their wealth and/or position to ruin the lives of others for their own personal
pleasure and gratification to be evil when they show no compassion or concern
for people that they cause injury or death. This could also be defined as greed
for sex, but I believe that evil more aptly describes these people.
33.6.1.
I believe that Homosexual Pedophile Priests and their Bishops, Cardinals,
and Popes that knew of these activities but did not drum these priests out of
the church and also did not have the police arrest hose priests for their crimes
are evil. The Catholic Church called these individuals "troubled priests". Those
pedophile priests ruined the lives of countless numbers of children that the
parents entrusted the care of their children to these priests. These priests
were totally evil. Why were they allowed to continue private contact with other
children at other parishes when transferred around by the Catholic Church? How
and why did these priests escape punishment by the law? (I am a Catholic).
33.6.2.
People that create and/or sell new worthless toxic financial products and
create junk bond type paper securities out of the thin air and then certify and
swear that these paper products have some value are primarily evil. I do believe
that if someone creates and sells freshly printed paper securities that the
seller knows to be worthless, perjured, falsely sworn to misrepresent the stated
facts, and that the seller presents, swears by his god, and certifies to the SEC
that his freshly printed paper securities have some monetary value in order to
take a persons money is theft, greed, and also evil, ala Enron/Arthur Anderson,
Madoff, Sanford, Scott Rothstein, etc. These people are also greedy, but they
are primarily
evil
thieves and criminals.
These people are also greedy for money without producing anything useful, but
they are primarily very evil for lying, cheating and stealing money from people
that listened to them lie.
33.6.3.
Senator Edward Kennedy
was known as the
hero at Chappaquiddick in 1969 when he caused the death of the pregnant
passenger in his car, Mary Jo Kopechne. I remember his own repeated refusal to
explain what had happened. I remember the special treatment that he received
from the local police. His family had the body of Mary Jo Kopechne quickly
interned without an autopsy. I remember that a later autopsy after her body was
exhumed determined that she was pregnant. Ted Kennedy might have been drunk
while he was driving, but that was no excuse for him to let that girl drown in
his car after he drove his car off of that bridge. He called the authorities
many hours after he first made multiple telephone calls to his various political
advisors first. Senator Kennedy was primarily evil. He was also greedy for
protection of his political future at the expense of the life of Mary Jo
Kopechne. He had plenty of money from his inheritance trust fund, so maybe he
thought that he was special and entitled more consideration than common US
citizens.
33.6.4.
Most of the members of the Kennedy Family also inherited great wealth,
never held a low paying beginning job, became big shot politicians, and/or just
fooled around with women and consumed large quantities of alcohol. They were
greedy for sex, drugs, food and drink, not necessarily for money.
33.6.4.1.
They basically caused no harm, except for the people that died when they
happened to be in a motorized vehicle operated by a Kennedy.
33.6.4.2.
Some member of the second generation Kennedy apparently raped a local
neighborhood girl and then killed her with his golf club. I would define these
actions as greedy for sexual gratification plus alcoholic beverage and illegal
narcotics consumption.
33.6.4.3.
Other members of the second generation also used a lot of illegal
narcotics.
33.6.5.
Mr. Phillip Garrido of Antioch, CA abducted and then forced an
11-year-old child into slavery as his sex object. This action is very close to
murder as far as the harm caused to the victim in my opinion. Mr. Garrido was
previously convicted once before for kidnapping, served a few years, got out on
parole and then kidnapped this young girl soon after he was released on parole
from prison.
33.6.5.1.
I read in our local newspaper (02 or 03SEP09 Houston Chronicle) that he
escaped conviction in yet another kidnapping/rape of another 14 year old in
Antioch, CA when that 14-girl year old refused to testify. Mr. Garrido probably
murdered many other women and these crimes were probably un-detected.
33.6.5.2.
Mr. Garrido's punishment in prison was not sufficient deterrent to
prohibit Mr. Garrido from performing these activities on these occasions and
probably several other occasions that escaped detection.
33.6.5.3.
There needs to be some appropriate legal deterrent to prevent this
horrible type of criminal activity. These people need to suffer horrible
executions to end their lives, even if they did not take a life.
33.6.5.4.
We need special legislation to prevent future similar crimes. Mr. Phillip
Garrido was greedy and evil when he forced children to have sex with him.
33.6.5.5.
How can anybody be against the Death Penalty.
33.6.5.6.
How can anybody believe that insane and/or retarded persons should not be
executed for these types crimes. Mr. Phillip Garrido would more than likely be
found to be insane, but I believe that he should not be allowed to breathe.
33.6.6.
I consider the financially astute and highly successful Arthur
Anderson/Enron groups here in Houston, with Jeff Skilling, Ken Lay, and Fastow
as their leaders along with Bernard Madoff, Allen Stanford, Scott Rothstein, and
the other lesser financial wizards to be considered to be evil, because they
produced nothing of actual value to increase the common wealth of the USA. These
individuals were also greedy, but they are primarily evil, because they did lie,
cheat and steal to get money from others.
33.6.6.1.
These financial wizards produced false and fictional financial statements
that they swore or certified to be true and accurate, and the SEC accepted these
false statements. These financial products were actually liars, cheats and
thieves.
33.6.6.2.
I believe that almost all of the remaining Wall Street financial wizards
are studying these master criminals to learn how they got caught. I believe that
the remaining Wall Street wizards will learn how to avoid themselves from
getting caught while creating their own financial empires.
33.6.7.
I consider most of the current US citizens, including myself, to be evil
because we are living off of the efforts of previous generations of Americans
that worked and created the assets and wealth that US citizens are selling to
foreigners in order to pay for imported products to keep US citizens from
working to make the things that we consume, and also to raise money to pay for
our excessive government expenses today that are in excess of our taxes
collected.
33.6.7.1.
This is evil to make our children work and pay for our idle, consuming
and non-employed lifestyles. Most of the US citizens are very greedy, and want
to live off of the efforts of the previous generations of US citizens.
33.6.7.2.
The US population does not want to work in some factory making the things
that the US citizen consumes. The US citizens have elected to pay industrious
people in foreign countries with US dollars from US importers that the
industrious foreigners can use to buy title to privately owned US located
property assets, instead of redeeming these dollars for gold from the US
treasury.
33.6.7.3.
Those industrial people in foreign countries can use these US dollars to
purchase title to any and all of our privately owned real estate, farms,
agri-businesses, food supplies, dairies, forests, industries, breweries, hotels,
factories, casinos, financial institutions, retail businesses, and all of the
other privately owned assets located in the USA that were created by previous US
generations that worked to create that wealth.
33.6.7.4.
This process can continue until we will have nothing else of value left
to sell to the foreign industrialized nations and their citizens.
33.7.
With the approval of the US citizen voters, and at the direction of US
citizen elected representatives, the US government also sells freshly printed US
paper T-Bills, US paper bonds, and other paper US securities at Federal Reserve
public auctions in return for the foreigner's US dollars that they earned by
making things for US citizens to consume. The US citizens are spending this
borrowed money with the expectations that their children and grand children will
pay off the bonds when they become due. US citizens are greedy and evil.
33.8.
Bill Gates might be an exception now, but was he greedy when he started
Microsoft? Probably, or he would not have been successful. He was not evil. He
did not lie, cheat or steal as the current generation of Wall Street executives
do.
33.9.
Is Greed the main motivator for people to work hard? This is why I worked hard
to start a business and accumulate wealth so that my children and grandchildren
could have an easier life than myself.
33.10.
I have witnessed a few people that inherited great wealth
(multi-millions) and then became big shot investment bankers (in every hair
brained scheme that was proposed to them) until their inherited wealth was all
gone. Some declared bankruptcy (some several times). They were greedy along with
the people to whom they "invested" their inherited money. They wanted wealth
without working.
I believe that the US
government should borrow back some of the US dollars from the same foreigners
that US citizens paid with US Dollars to make the things that US citizens
consumed, and then throw these US dollars at these same incompetent wall street
financial master geniuses that created this financial disaster? That should
stimulate the economy! Are you telling me that this is what President Obama has
been doing for the last few months? Why is this not working? Why are US
industries accelerating the factory closings and speeding up the discharging
their remaining US employees.
The newspapers say that some
foreign industrial economies are re-bounding with fresh manufacturing orders.
How many of these orders will be paid with free or loaned US government borrowed
bailout money given to the automobile and other badly managed industries? Will
the US workers and manufacturers benefit at all? How many workers are
increasingly added to the un-employment rolls each month? Should the
unemployment statistics also consider the unemployed whose unemployment benefits
have expired? If the monthly job losses as reported by new applications for
unemployment were 450,000 and another 400,000 had their unemployment benefits
expired, should this total of both categories be added to the existing number of
unemployed and that resulting number should be defined as the new total number
of unemployed. The number of unemployed should be the "bottom line" that to be
considered.
I am a 71 year old
engineer still working because I think that engineering is fun, even though it
is no longer profitable. I have always been interested in economics since Texas
A&M required this course for engineers, along with business law and accounting
in the 1950's. The Economics instructor taught us preposterous lessons to the
effect that no one had to work as long as we just manipulated the economy. The
business law and accounting courses also benefited me greatly in by career. I
also cashed in my investments in the spring of 2008 and avoided the loss of
assets that most folks endured when they listened to their professional
financial advisors.
I have never participated in
journalism, except for an occasional letter to the editor. I am concerned that
the political leaders of both major (maybe all) political parties are leading
this country into becoming a third world economy, if action is not taken
rapidly. Journalists must learn about economic principals and then become the
saviors of this nation by publicizing, educating and/or preaching sound economic
principals to the general public. Who else has the capability to disseminate
this information to the general public? Our political leaders are talking as if
they never studied or read anything about economics. It is not that complicated.
It is only interlocked with understandable causes and affects of various
economic actions.
To restore the USA to
economic health and prosperity, huge changes are needed in the very political
and economic structural systems that created these problems.
The End
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