I decided to copy and paste this post from last April in lieu of the $50 billion dollar Madoff scandal. Frankly I do not know how anyone has any confidence or trust in anyone except the Lord Jesus. What purpose does the SEC serve........none, continue reading and you will see.
Remember back in the days when insider selling was illegal? Well not anymore. Today we see big corporate hot shots selling off large amounts of stock just before the bad news hits Wall Street and somehow, they are getting away with it. Is there any accountability anymore? What happened to regulation and/or regulatory control? Isn't Congress supposed to enforce laws to regulate such behavior? How come it seems Congress just isn't working anymore? Or perhaps they are just capitulating to the pressure of these big corporations.
Inside trading is a felony under federal law, yet the privileged and well-positioned take advantage of secret information to profit at the expense of ordinary investors. Billions of inside trading is going by corporated executives and they are getting away with it. Why is this? Perhaps it is because these corporate executives are in a perfect postion to use secret information to trade in their company's stock. In the 20's, Congress prohibited fraud by corporated executives, but what about now? Well now we have the SEC and corporate executives got them to issue a new rule. This rule allows executives with stock options to exercise the option, immediately sell the stock and keep the profit. The SEC rule created the "stock option flip-trade." Executives can now bail out at the first smell of bad news inside the company. They could exercise options, instantly sell the stock and pocket the profits, without putting up a penny or taking any market risk. The abuse is obvious. Corporate executives, with the benefit of sophisticated management information systems that provide instantaneous updates on internal trends, know precisely when to trade. So as soon they see performance short-falls are coming, they can flip trade, put stock sale plans in place or increase the shares they are selling. Several Enron fraudsters, including Mr. Lay and Mr. Skilling used this "safe harbor" to sell off huge chunks of their Enron stock-option stock, pocketing hundreds of millions of dollars. Despite Congress' stringent prohibitions against quick-flip stock trades or stock sales based on secret information, both have become the order of the day.
Recently, SEC Enforcement Director, Linda Thomsen, admitted to "seeing deliberate, calculated misconduct", "rampant" insider trading. She also voiced suspicion that executive stock sale plans were being abused. The financial world is littered with abuses. Such suspicions include Yahoo when it encountered long delays in launching its new internet ad placement technology. When the delay was finally revealed, Yahoo's stock collapsed from $44 to $22, inflicting $25 billion in loses on Yahoo's shareholders. While the top executives at Yahoo were struggling with these undisclosed problems, they unloaded 33 million shares of their Yahoo stock for more than a billion dollars. The CEO and CFO each sold 80% to 90% of their shares.
Dell computer disclosed serious product quality and customer service problems and restated years of prior financial reports to eliminate millions in profits. Dell stock fell from $42 to $19, inflicting $30 billion in losses on shareholders. Yet before this came out, Dell executives unloaded 98 million shares of stock for $3.3 billion. Dell's CEO and CFO, both ousted due to the scandal, sold 98% of their stock. Eight other executives sold more than 90 % of theirs. Most were "quick flip" stock option sales.
Remember Countrywide that was plastered all over the news with the subprime mess? Well, when it's lax lending practices and dubious accounting became public, its stock collapsed from $45 to $20, costing shareholders $13 billion. Yet Countrywide's insiders had unloaded 21 million shares for $765 million before the bad news. More quick-flip stock option sales. The CEO, Angelo Mozilo sold millions of shares pocketing $232 million while he monkeyed with his stock-sale plan to increase his sales before the stock collapsed.
At Forest Laboratories, a drug manafacturer, the CEO sold off 3.8 million shares, all stock-option shares, for $221 milllion before studies linking its main drug to increased adolescent suicide came out. Then the stock collapsed from $78 to $36, costing shareholders $15 billion.
At home builder Toll Brothers, top insiders unloaded 14 million shares for $612 million, before revealing slowing demand and a decline in orders that caused that stock to plummet from $56 to $33, costing shareholders $3.5 billion.
And finally there is AOL TIme Warner, where the corporate insiders sold more than 22 million shares for more than $750 million, as they put together and watched fall apart, the worst merger of the century causing hugh losses and a stock drop from $59 to $9, inflicting $150 billion in losses on shareholders.
If someone robs a convenience store, his crime may earn his 10 years in prision, yet corporate insiders regularly use secret information to profit by millions and millions with impunity, even though insider trading is a felony and their misconduct harms hundreds of thousands of investors, including pension funds charged with investing the life savings of millions of Americans. The punishment doesn't fit the crime because there is no punishment. The SEC's mandate is to protect investors and police fraud in our securities market. So why is this happening and what is the SEC doing about it? Despite the SEC Enforcement DIrector's complaints about insider selling, the SEC is doing little about the current epidemic.
In each of the above examples of insider bailouts, institutional investors brought securities class-action suits. But they all suffer from problems due to the SEC's protective insider-trading rules. As a result, corporate insiders virtually never pay up any of their insider trading proceeds when such suits are settled. This kind of stock profiteering by corporate insiders UNDERMINES investor confidence in the markets and the federal agency that is supposed to protect them. If investors lose confidence, they invest less and economic growth and prosperity are impaired. Rather than engage in empty rhetoric about insider trading, the SEC should step up its enforcement efforts and police the markets like Congress intended it to.
Remember the movie "Wall Street" with Michael Douglas and Charlie Sheen? Michael Douglas played the character Gordon Gekko and in the movie Mr. Gekko said, "Greed is good". Well, no it is not!!!!!! When greed is unrestrained, it's yields terrible and disasterous results. But unfortunately man does not care because greed resides in his heart and he loves his sin.
Thursday, December 25, 2008
Sunday, December 14, 2008
Politics as usual..........
When I think about the current financial crisis facing this country, I can not help but think of all the deregulation and the cavalier attitudes of our leadership and why Congress obviously does not care much what their actions portray to the perceived public. Is the United States a democracy (my question mark is not working on this computer). I sure the heck do not think so and I am sure many others share my sentiment as well. Perhaps this is why Congress has its lowest rating (about 28%) in decades.
Just recently I had my car window smashed to pieces and my pocketbook stolen and mind you, this was in a community park. (of course I have my own theories about what REALLY happened, but I will choose not to elaborate on that right now). When I spoke to the Palmer Twsp. police officer (in Easton, Pennsylvania) over the phone to make a report, he told me that this has been happening quite often. When I asked him why a sign was not posted to alert the public, he said that it would make our community look bad. Well folks, we all know what that is...............politics, just like everything is today. We do not want God to look bad, so we do not warn people about sin and damnation. We ignore doctrine for the sake of peace without much resistance. We continue to borrow and add to our National debt........all the while ignoring the tidal wave that is approaching. Why do we do this.
According to our government, the nations chronic deficits are not a problem as long as they remain under a certain percentage of the GNP (excluding the cost of the war and future entitlements) and that current levels are historically sustainable. The national debt is cumulative though and when you have to keep borrowing to pay off old debts, the wave gets bigger and threatens to drown you (our national government now pays more in interest than for education, health care, and homeland security combined). And keep in mind that our government keeps borrowing from Social Security and Medicare just to pay the interest on that national debt. They should at least have the decency to keep their bloody paws off programs that are funded by workers and promised to them. The creators of these programs intended for them to act as trust funds and that the greedy politicians were to keep their hands off of them.
Even Japans treasury pays about one-fifth the interest rate that we pay. We have basically become the most profitable sub-prime borrower or its preferred customer in the global finance market. And the more we borrow, the higher the premiums they will throw our way. And what about bankruptcy. Remember just recently Congress revamped the bankruptcy laws making it harder for individuals to file bankruptcy. However, corporations some how skirted this law.......as usual. Do you actually think that Congress is acting on behalf of the American people or are they really working for the corporations and receiving clandestine favors from their banking friends. When the banks and credit card companies realize that outlawing bankruptcy is not going to stop people from going broke, they are going to have to rethink their strategy. What IS certain, is that Congress probably will not compel them to do anything, which borders on criminal negligence. When the average Joe falls on hard times, there will be no generous donor to bail him out in exchange for his vote, nor could he expect to have his credit report cleaned up in a matter of minutes.
The two-tiered system we have put up with for too long has shielded our representatives in Congress from appreciating both the magnitude and the urgency of the problem facing middle-class Americans. I think a great idea is to have congressmen forced to live on minimum wage and get food from a pantry or have the President go to a county hospital for treatment and wait an hour and half in the emergency room. Why are there not more lobbyist for American families on important issues. And why should the financial industry be allowed to treat those in power any differently than ordinary Americans. Should corporations, which keep in mind, were originally chartered to have the same rights as individuals, be allowed to keep those rights.....e.g., bankruptcy, while living, breathing citizens are stripped of them. If Congress does not want families to have the option of getting out from under, corporations and investments banks should not enjoy that privilege either. CEOs who have the foresight to pay themselves millions of dollars before their companies tank should not be the only ones afforded a fresh start.
And on the issue of privacy. Is it not amazing how these investment banks and large corporations are given this privilege as well. When the average Joe defaults on his creditors, he will be threatened and harassed by an army of faceless voices who are allowed to share everything they know about him, including his address, his phone #, the names of his relatives and neighbors, as well as his entire financial history. If consumers are to have a fair chance, the practice of information sharing needs to be curtailed, not expanded, and consumers must have a bona fide right to opt out. Our current system only allows consumers to opt out of receiving solicitations; it does nothing to guarantee an individuals constitutional right to privacy or protect them from malevolent collectors. The government should respect the law and not join in the game by purchasing private information from the credit bureaus. And agencies like the IRS should not be allowed to share personal information with credit bureaus or debt collectors. Personally, I feel that our credit bureaus and the FICO credit scoring system is quite similar to what the mark of the beast will be like. You know...........you can not purchase food, clothing, or shelter unless you bow down and worship the anti-christ.
I have heard the term, floor rate, which means that is the lowest a credit card company will drop their rate. Why does not Congress address this issue as well. Why are not the banks interest rates capped. We see that paw shops and casinos are regulated so then how does a $12,000 debt suddenly balloon to a $50,000 debt. It is unfortunate that regulation has been viewed or made tantamount to socialism and deregulation has been mistaken for freedom. Where are the checks and balances. Are there not supposed to be limits on interstate banking. I wonder how many people think Congress has been asleep at the wheel for too long. Or how many people bought Hank Paulsens pleading with Congress for the $700 billion bailout, that what is good for banking profits, is always good for the American people. I wonder how many think It is time to create a new metric in order to judge how many middle-class Americans are joining the ranks of the poor. The poverty line is archaic because it is based solely on food (this poverty line is defined as 3 times the cost of feeding a family of 4). Is that the only factor to determine if someone or a family is in poverty. What about exorbinant healthcare costs, housing costs, and insurance costs.
I think too many have collectively thrown their hands up and said that the financial industry is too big to regulate so we give up and we will just capitulate to their demands. Or better yet, perhaps Congress is actually afraid of the BANK. You know when Abe Lincoln was assassinated, Mary Todd Lincoln, his wife, screamed.....Oh, that bank. I wonder how many people have been knocked off because they did not cooperate with the BANKS agenda. Money yields and amasses incredible power and control.
And interestingly, regulation was instigated to protect the financial system from a Depression-style meltdown. Perhaps that is a prophetic statement.
Just recently I had my car window smashed to pieces and my pocketbook stolen and mind you, this was in a community park. (of course I have my own theories about what REALLY happened, but I will choose not to elaborate on that right now). When I spoke to the Palmer Twsp. police officer (in Easton, Pennsylvania) over the phone to make a report, he told me that this has been happening quite often. When I asked him why a sign was not posted to alert the public, he said that it would make our community look bad. Well folks, we all know what that is...............politics, just like everything is today. We do not want God to look bad, so we do not warn people about sin and damnation. We ignore doctrine for the sake of peace without much resistance. We continue to borrow and add to our National debt........all the while ignoring the tidal wave that is approaching. Why do we do this.
According to our government, the nations chronic deficits are not a problem as long as they remain under a certain percentage of the GNP (excluding the cost of the war and future entitlements) and that current levels are historically sustainable. The national debt is cumulative though and when you have to keep borrowing to pay off old debts, the wave gets bigger and threatens to drown you (our national government now pays more in interest than for education, health care, and homeland security combined). And keep in mind that our government keeps borrowing from Social Security and Medicare just to pay the interest on that national debt. They should at least have the decency to keep their bloody paws off programs that are funded by workers and promised to them. The creators of these programs intended for them to act as trust funds and that the greedy politicians were to keep their hands off of them.
Even Japans treasury pays about one-fifth the interest rate that we pay. We have basically become the most profitable sub-prime borrower or its preferred customer in the global finance market. And the more we borrow, the higher the premiums they will throw our way. And what about bankruptcy. Remember just recently Congress revamped the bankruptcy laws making it harder for individuals to file bankruptcy. However, corporations some how skirted this law.......as usual. Do you actually think that Congress is acting on behalf of the American people or are they really working for the corporations and receiving clandestine favors from their banking friends. When the banks and credit card companies realize that outlawing bankruptcy is not going to stop people from going broke, they are going to have to rethink their strategy. What IS certain, is that Congress probably will not compel them to do anything, which borders on criminal negligence. When the average Joe falls on hard times, there will be no generous donor to bail him out in exchange for his vote, nor could he expect to have his credit report cleaned up in a matter of minutes.
The two-tiered system we have put up with for too long has shielded our representatives in Congress from appreciating both the magnitude and the urgency of the problem facing middle-class Americans. I think a great idea is to have congressmen forced to live on minimum wage and get food from a pantry or have the President go to a county hospital for treatment and wait an hour and half in the emergency room. Why are there not more lobbyist for American families on important issues. And why should the financial industry be allowed to treat those in power any differently than ordinary Americans. Should corporations, which keep in mind, were originally chartered to have the same rights as individuals, be allowed to keep those rights.....e.g., bankruptcy, while living, breathing citizens are stripped of them. If Congress does not want families to have the option of getting out from under, corporations and investments banks should not enjoy that privilege either. CEOs who have the foresight to pay themselves millions of dollars before their companies tank should not be the only ones afforded a fresh start.
And on the issue of privacy. Is it not amazing how these investment banks and large corporations are given this privilege as well. When the average Joe defaults on his creditors, he will be threatened and harassed by an army of faceless voices who are allowed to share everything they know about him, including his address, his phone #, the names of his relatives and neighbors, as well as his entire financial history. If consumers are to have a fair chance, the practice of information sharing needs to be curtailed, not expanded, and consumers must have a bona fide right to opt out. Our current system only allows consumers to opt out of receiving solicitations; it does nothing to guarantee an individuals constitutional right to privacy or protect them from malevolent collectors. The government should respect the law and not join in the game by purchasing private information from the credit bureaus. And agencies like the IRS should not be allowed to share personal information with credit bureaus or debt collectors. Personally, I feel that our credit bureaus and the FICO credit scoring system is quite similar to what the mark of the beast will be like. You know...........you can not purchase food, clothing, or shelter unless you bow down and worship the anti-christ.
I have heard the term, floor rate, which means that is the lowest a credit card company will drop their rate. Why does not Congress address this issue as well. Why are not the banks interest rates capped. We see that paw shops and casinos are regulated so then how does a $12,000 debt suddenly balloon to a $50,000 debt. It is unfortunate that regulation has been viewed or made tantamount to socialism and deregulation has been mistaken for freedom. Where are the checks and balances. Are there not supposed to be limits on interstate banking. I wonder how many people think Congress has been asleep at the wheel for too long. Or how many people bought Hank Paulsens pleading with Congress for the $700 billion bailout, that what is good for banking profits, is always good for the American people. I wonder how many think It is time to create a new metric in order to judge how many middle-class Americans are joining the ranks of the poor. The poverty line is archaic because it is based solely on food (this poverty line is defined as 3 times the cost of feeding a family of 4). Is that the only factor to determine if someone or a family is in poverty. What about exorbinant healthcare costs, housing costs, and insurance costs.
I think too many have collectively thrown their hands up and said that the financial industry is too big to regulate so we give up and we will just capitulate to their demands. Or better yet, perhaps Congress is actually afraid of the BANK. You know when Abe Lincoln was assassinated, Mary Todd Lincoln, his wife, screamed.....Oh, that bank. I wonder how many people have been knocked off because they did not cooperate with the BANKS agenda. Money yields and amasses incredible power and control.
And interestingly, regulation was instigated to protect the financial system from a Depression-style meltdown. Perhaps that is a prophetic statement.
Tuesday, December 9, 2008
Another Pearl Harbor.......
If you genuinely cared about someone would you warn them if they were about to go off a cliff. Of course you would, that is IF you cared. Unfortunately today we see most people, including so-called Christians, that do NOT care. With the likes of Joel Osteen and Billy Graham, to Rick Warren, it is clear that most folks do not have any comprehension, much less awareness, of the impending doom and evil that is prevelant in this world. We chalk off conspiracy theories as comedy and we joke about the Emergent Church we no real sense of urgency in our hearts of how bad things will get. Perhaps that is left only to the prophets of impending doom.....much like those in the old testament who likely lamented day and night of the wickedness they were well aware of. Unfortunately these prophets were stoned, back stabbed and disregarded as dirty old dish rags.
How fortunate for the government when the masses do not think for themselves. This is what Hitler said when he was ruling the Third Reich. Hitler used his propaganda machine in Joseph Goebbles to further advance his plans and all the while the masses believed it. Only a few, discerning people who knew better were aware of the evil. They were not stupid or ignorant. We see how far Hitler advanced before anything was done. What a shame it is when we see people capitulating to the evil around them by joining the crowds and refusing to take a stand.
We see this in the ecumenical movement in the church. With Evangelicals joining hands with Catholics, Mormons and Jehova Witnesses. Yet if anyone stands up against it, they are labeled divisive, when in reality, it is they, the disobedient ones, who are divisive. They are clearly causing the brethern to divide over those who will be obedient to God and those who will not. It is more expedient to be political. It is more expedient to be lucrative, according to their actions.
In the early churches, Christians were persecuted, hunted down and murdered BECAUSE of their faith. They would not compromise for anything. Their allegiance was to Christ and His Word, not this world. You can not love God and this world at the same time. Either you love one or the other. But you can not love both.
Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh, and lust of the eyes, and the PRIDE of life, is not of the Father, but is of the world. And the world passeth away, and the lust thereof; but he that doeth the will of God abideth forever.............I John 1:15-17
How fortunate for the government when the masses do not think for themselves. This is what Hitler said when he was ruling the Third Reich. Hitler used his propaganda machine in Joseph Goebbles to further advance his plans and all the while the masses believed it. Only a few, discerning people who knew better were aware of the evil. They were not stupid or ignorant. We see how far Hitler advanced before anything was done. What a shame it is when we see people capitulating to the evil around them by joining the crowds and refusing to take a stand.
We see this in the ecumenical movement in the church. With Evangelicals joining hands with Catholics, Mormons and Jehova Witnesses. Yet if anyone stands up against it, they are labeled divisive, when in reality, it is they, the disobedient ones, who are divisive. They are clearly causing the brethern to divide over those who will be obedient to God and those who will not. It is more expedient to be political. It is more expedient to be lucrative, according to their actions.
In the early churches, Christians were persecuted, hunted down and murdered BECAUSE of their faith. They would not compromise for anything. Their allegiance was to Christ and His Word, not this world. You can not love God and this world at the same time. Either you love one or the other. But you can not love both.
Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh, and lust of the eyes, and the PRIDE of life, is not of the Father, but is of the world. And the world passeth away, and the lust thereof; but he that doeth the will of God abideth forever.............I John 1:15-17
Wednesday, November 26, 2008
Is there an appropriate title for this?
What makes you happy in life? Would it be a wonderful family? Perhaps it would be a successful job. Or maybe good health? Perhaps it would be a close knit church family who loves you and supports you through hards times. Or maybe even be good relationships within the parameter of family, work, community and church.........in other words, you have a pretty good reputation.
Well suppose you did have all these things, but, little by little, God began to take those things from your life. Would you still be happy? Would you still be thankful? Would you still praise God? I am sure many Christians would most likely say, "Well yes, because God says to give thanks in all things, so yes I would", or perhaps they would say, "It would definitely be difficult but I would pray and read the book of Job and other scriptures to encourage my heart". Well I can assure you that it's much easier said than actually done.
Here's a scenario that I'd like you to sincerely consider and as you read this, take the time to ponder Ecclesiastes 7 v.3 which says, "sorrow is better than laughter: for by the sadness of the countenance the heart is made better". Suppose you were raised in a Christian home and everyone therein was born again, redeemed souls of God and suddenly one morning you wake up and everything changes. Suppose your parents decide to separate because they can't live together anymore. You are 11 years old and God allows to taste your first bitter disappointment in life. How would you respond? Would you pray to God and ask Him why? Would you fall into a depression? Would you spend most of your days trying to figure out what you did wrong? Now suppose several years pass and your parents have finalized their divorce and one morning on your birthday the remaining parent that you live with decides to falsely accuse you and throw you out and basically treat you like an illegitiment child. How would you respond? Would you forgive or would you get revenge? Would you get seriously depressed? Lets just say you choose to forgive and trust God with all you've got because you simply have no other choice and because you can't see the road ahead, but somehow you know He does. Now lets say several years later you try to reconcile with this family of yours.....this family that God put you in and you realize how incredibly painful it is because you know deep down inside you are still treated like an outsider and when you see pictures of your older brother getting married and you are not included in any of those pictures, yet all the other siblings are.........how then would you respond? Would you feel worthless? Would you feel angry? Would you feel cheated? I am sure you would feel those feelings and more. How would you deal with life then? Would you go to the scriptures and cry out to God for understanding? Or would you seriously consider ending your life because you see no more purpose to the suffering and the pain?
Now lets say that while you have been dealing with this family trial which has been more than enough to bare, suppose God allows you to be poor, while you see your family prospering and enjoying each other's company without you and then to add insult to injury you feel the constant sting from your family's judgment because you are usually in need financially. How would you feel then and how would you respond? A lot to ponder here.........so please take your time.
Now suppose on top of being left out of your family and having your character assassinated by them and being poor, the little that you do have is constantly being stolen from you because once again God is allowing these things to happen to you. You go for a run because you know exercise helps you cope with the stress, and when you come back your car is stolen. Oh and you've just been fired unjustly from your job. What do you do now? Do you get so pissed off that you just can't stand it anymore? Do you get so damned depressed that you figure this life ain't worth living anymore? Or do you just think.......with a smile....."WOW, I must be living in a garbage can........yeap, Satan's garbage can"! So let's say you decide to trust God once again but not until you allow yourself time to vent your anger. It's takes a couple weeks but by God's grace you are back on your feet again trying to stay afloat and God supplies your need of a new car. He provides it through your family but it doesn't come without a price because even though your family may give you a car that you know you must have for work to support yourself, they add judgment and criticism to it. As if you didn't already feel like a victim of crime....now you feel absolutely miserable. Then you say to yourself, "how I am suppose to be thankful for this constant nonsense in my life? I mean, this is now getting ridiculous, one thing after another, it just never ends".
Now just imagine after all this, several weeks later the police call you to say they found your stolen car on the streets of Philadelphia. You know you want to go see it to get some of your things, provided they are still there. When you get there, you see that your pocketbook is still there, even though you went through the trouble of cancelling all your bank cards and checks and you put a fraud alert on your credit reports........you know, the usual things you must do when your identity is stolen. So you begin to feel some kind of relief that you got some sentimental things of yours back. As you are leaving Philadelphia, you are waiting at a red light and one person is ahead of you waiting at this red light too. Suddenly someone smashes into your rear end, jolting you forward so far that your body slams into the dash board and your head hits the windshield and you were pushed into the guy in front of you. As the adrenaline rushes through your body and you realize what is happening, you see the driver that hit you, drive beside you, make eye contact, and bolt off. You instantly jump out of the car to run after him to get his license plate but before you know it, he is nothing but a vapor in the distance. You know that you don't have collision of your insurance policy because you can't afford it. When you return to your car, the person that you were pushed into starts to scream at you, blaming you, and calling you a "crazy woman driver". Keep in mind that you have already endured enough criticism and hardship in your life, being blamed for crap you never did and constantly being criticized and judged to the point where no matter what you do people will always harass you. At this point you feel so helpless, you wish you had a gun so you could shoot yourself. Eventually you realize you have to see a chiropractor because your neck is on fire from severe wipelash. The X-ray shows that your cervical region is no longer curved but straight up and down..........an indication of the severe trauma you received from the driver who committed a crime of hit and run. Now you have residual pain that will never go away and sometimes you can't sleep at night because you simply can't find a comfortable position for your neck. So how are feeling at this point? Are you feeling so tired from the battle field that you just want to quit? Have you put in your resignation on life? Or do you walk around just pissed off all the time because you realize God has assigned to you a life of pain, hardship, and trial?
Oh, I'm not done yet, in fact, I'm just getting started. Even now, as you battle anger, bitterness, and resentment, you have a friend from a large Baptist church in Atlanta that you attended and you think he is your friend because he calls you frequently and wants to talk. This relationship that you have is in your mind platonic. But you knew that this friend wanted more from the relationship. You assumed that if you told this person the truth from the get-go that you had no interest in pursuing the relationship further than just friends, that everything would be ok. I mean after all he was attending a large Baptist church with a world renowned pastor preaching from the pulpit. So surely he must have some maturity to handle disappointment. Never once were you abusive to this person but were always honest with your feelings towards this person. One day this person decides that they are going to get revenge on you for apparently "stringing them along" or whatever and this person sends you hate mail and hate email, slandering you to the point where it borders on criminal activity. They start stalking you and it's so bad to the point where you have to have them arrested. Obviously this friend had a disproportionate response to the so-called offense that you caused them. Now this person puts you through a trial and bad mouths you in the courtroom. They continue to justify their actions by casting blame at your feet, even though they "apologized". After this you know for sure you will never get involved with anyone ever again at a church, much less even go to church, because most people are carnal in churches anyway, that you simply can not endure anymore betrayal, deceitfulness and gossip. You've had enough!!! Now.......is that how you would respond? Or would you continue to be a toilet for people to crap in? Really ask yourself how would you honestly respond to all this sh-t?
Once again you are assulted with another crime. Someone smashes your window to steal your pocketbook, even though you put it in the truck to hide it from criminals. And once again you have to go through the trouble of cancelling all your bank cards, credit cards, checks, etc., etc. On top of all this garbage that has been thrown your way most of your life, there is the added pressure from all your so-called church friends that you are not responding obediently to God and you are ruining your testimony. What do you do now? Do you tell the world to f--k off? Do you tell everyone to shove up their ass and leave you alone? Or do you go back and forth between trust and anger, resentment, and bitterness? Or do you isolate yourself from everyone or at least those people who have no idea how you feel because they have a comfortable life and you have nothing in common with Christians like that?
This is my life........has been my life and probably will continue being my life. So my only hope is heaven.......not this garbage can down here. The apostle Paul said it well in Philippians 1 verse 23, "For I am in a strait betwixt two, having a desire to depart, and to be with Christ; which is FAR better"............no doubt Paul said that because of all the crap he had to endure. One thing I have learned for sure is that suffering gives you a greater appreciation and longing for Eternity. This is a garbage can......it's Satan's garbage can and God said one day that He would destroy this earth and create a new one wherein only righteousness dwells. That's the day I long for......until then it's like living in a concentration camp under Nazi rule. So to encourage my own heart as Paul frequently had to do ( II Timothy 4:16 ), I will remember what Paul said in Philippians 3 verse 8, "Yea doubtless, and I count all things but loss for the excellency of the knowledge of Christ Jesus my Lord: for whom I have suffered the loss of all things, and do count them but DUNG, that I may win Christ", so yes, everything down here is worthless crap when compared to the beauty, perfection, and glory of Christ Jesus so why should I be upset over losing something (whether that be friends, family, possessions, etc., all), that's elephant crap anyway!
"I cried unto the Lord with my voice; with my voice unto the Lord did I make my supplication. I poured out my complaint before Him; I showed before Him my trouble. When my spirit was overwhelmed within me, then thou knewest my path. In the way wherein I walked have they privily laid a snare for me. I looked on my right hand, and beheld, but there was no man that would know me; refuge failed me; no man cared for my soul. I cried unto thee, O Lord: I said, thou art my refuge and my portion in the land of the living. Attend unto my cry, for I am brought very low: deliver me from my persecutors; for they are stronger than I. (bring my soul out of prison), that I may praise thy name: the righteous shall compass me about; for thou shalt deal boutifully with me"...............Psalm 142
****special note.......my mouth might be a little profane which is why I used blanks and God forgive me for that, but somehow I know that is the only way to express how I really feel without putting on a fake church face and plaster smile or the use of pious platitudes which so many use for their so-called spirituality.
*********I appreciate the Psalms of King David. David had his ups and downs in life. Clearly he poetically revealed his moments of despair and his moments of trust and faith in God. David was real, expressing his joys and his lamentations. He revealed his courage and his vulnerabilities. Some days he was full of confident faith, other days he was down in the dumps........so naturally I relate quite well to him. Some days are good, others not so good, but I do know my times are in His hands.
Well suppose you did have all these things, but, little by little, God began to take those things from your life. Would you still be happy? Would you still be thankful? Would you still praise God? I am sure many Christians would most likely say, "Well yes, because God says to give thanks in all things, so yes I would", or perhaps they would say, "It would definitely be difficult but I would pray and read the book of Job and other scriptures to encourage my heart". Well I can assure you that it's much easier said than actually done.
Here's a scenario that I'd like you to sincerely consider and as you read this, take the time to ponder Ecclesiastes 7 v.3 which says, "sorrow is better than laughter: for by the sadness of the countenance the heart is made better". Suppose you were raised in a Christian home and everyone therein was born again, redeemed souls of God and suddenly one morning you wake up and everything changes. Suppose your parents decide to separate because they can't live together anymore. You are 11 years old and God allows to taste your first bitter disappointment in life. How would you respond? Would you pray to God and ask Him why? Would you fall into a depression? Would you spend most of your days trying to figure out what you did wrong? Now suppose several years pass and your parents have finalized their divorce and one morning on your birthday the remaining parent that you live with decides to falsely accuse you and throw you out and basically treat you like an illegitiment child. How would you respond? Would you forgive or would you get revenge? Would you get seriously depressed? Lets just say you choose to forgive and trust God with all you've got because you simply have no other choice and because you can't see the road ahead, but somehow you know He does. Now lets say several years later you try to reconcile with this family of yours.....this family that God put you in and you realize how incredibly painful it is because you know deep down inside you are still treated like an outsider and when you see pictures of your older brother getting married and you are not included in any of those pictures, yet all the other siblings are.........how then would you respond? Would you feel worthless? Would you feel angry? Would you feel cheated? I am sure you would feel those feelings and more. How would you deal with life then? Would you go to the scriptures and cry out to God for understanding? Or would you seriously consider ending your life because you see no more purpose to the suffering and the pain?
Now lets say that while you have been dealing with this family trial which has been more than enough to bare, suppose God allows you to be poor, while you see your family prospering and enjoying each other's company without you and then to add insult to injury you feel the constant sting from your family's judgment because you are usually in need financially. How would you feel then and how would you respond? A lot to ponder here.........so please take your time.
Now suppose on top of being left out of your family and having your character assassinated by them and being poor, the little that you do have is constantly being stolen from you because once again God is allowing these things to happen to you. You go for a run because you know exercise helps you cope with the stress, and when you come back your car is stolen. Oh and you've just been fired unjustly from your job. What do you do now? Do you get so pissed off that you just can't stand it anymore? Do you get so damned depressed that you figure this life ain't worth living anymore? Or do you just think.......with a smile....."WOW, I must be living in a garbage can........yeap, Satan's garbage can"! So let's say you decide to trust God once again but not until you allow yourself time to vent your anger. It's takes a couple weeks but by God's grace you are back on your feet again trying to stay afloat and God supplies your need of a new car. He provides it through your family but it doesn't come without a price because even though your family may give you a car that you know you must have for work to support yourself, they add judgment and criticism to it. As if you didn't already feel like a victim of crime....now you feel absolutely miserable. Then you say to yourself, "how I am suppose to be thankful for this constant nonsense in my life? I mean, this is now getting ridiculous, one thing after another, it just never ends".
Now just imagine after all this, several weeks later the police call you to say they found your stolen car on the streets of Philadelphia. You know you want to go see it to get some of your things, provided they are still there. When you get there, you see that your pocketbook is still there, even though you went through the trouble of cancelling all your bank cards and checks and you put a fraud alert on your credit reports........you know, the usual things you must do when your identity is stolen. So you begin to feel some kind of relief that you got some sentimental things of yours back. As you are leaving Philadelphia, you are waiting at a red light and one person is ahead of you waiting at this red light too. Suddenly someone smashes into your rear end, jolting you forward so far that your body slams into the dash board and your head hits the windshield and you were pushed into the guy in front of you. As the adrenaline rushes through your body and you realize what is happening, you see the driver that hit you, drive beside you, make eye contact, and bolt off. You instantly jump out of the car to run after him to get his license plate but before you know it, he is nothing but a vapor in the distance. You know that you don't have collision of your insurance policy because you can't afford it. When you return to your car, the person that you were pushed into starts to scream at you, blaming you, and calling you a "crazy woman driver". Keep in mind that you have already endured enough criticism and hardship in your life, being blamed for crap you never did and constantly being criticized and judged to the point where no matter what you do people will always harass you. At this point you feel so helpless, you wish you had a gun so you could shoot yourself. Eventually you realize you have to see a chiropractor because your neck is on fire from severe wipelash. The X-ray shows that your cervical region is no longer curved but straight up and down..........an indication of the severe trauma you received from the driver who committed a crime of hit and run. Now you have residual pain that will never go away and sometimes you can't sleep at night because you simply can't find a comfortable position for your neck. So how are feeling at this point? Are you feeling so tired from the battle field that you just want to quit? Have you put in your resignation on life? Or do you walk around just pissed off all the time because you realize God has assigned to you a life of pain, hardship, and trial?
Oh, I'm not done yet, in fact, I'm just getting started. Even now, as you battle anger, bitterness, and resentment, you have a friend from a large Baptist church in Atlanta that you attended and you think he is your friend because he calls you frequently and wants to talk. This relationship that you have is in your mind platonic. But you knew that this friend wanted more from the relationship. You assumed that if you told this person the truth from the get-go that you had no interest in pursuing the relationship further than just friends, that everything would be ok. I mean after all he was attending a large Baptist church with a world renowned pastor preaching from the pulpit. So surely he must have some maturity to handle disappointment. Never once were you abusive to this person but were always honest with your feelings towards this person. One day this person decides that they are going to get revenge on you for apparently "stringing them along" or whatever and this person sends you hate mail and hate email, slandering you to the point where it borders on criminal activity. They start stalking you and it's so bad to the point where you have to have them arrested. Obviously this friend had a disproportionate response to the so-called offense that you caused them. Now this person puts you through a trial and bad mouths you in the courtroom. They continue to justify their actions by casting blame at your feet, even though they "apologized". After this you know for sure you will never get involved with anyone ever again at a church, much less even go to church, because most people are carnal in churches anyway, that you simply can not endure anymore betrayal, deceitfulness and gossip. You've had enough!!! Now.......is that how you would respond? Or would you continue to be a toilet for people to crap in? Really ask yourself how would you honestly respond to all this sh-t?
Once again you are assulted with another crime. Someone smashes your window to steal your pocketbook, even though you put it in the truck to hide it from criminals. And once again you have to go through the trouble of cancelling all your bank cards, credit cards, checks, etc., etc. On top of all this garbage that has been thrown your way most of your life, there is the added pressure from all your so-called church friends that you are not responding obediently to God and you are ruining your testimony. What do you do now? Do you tell the world to f--k off? Do you tell everyone to shove up their ass and leave you alone? Or do you go back and forth between trust and anger, resentment, and bitterness? Or do you isolate yourself from everyone or at least those people who have no idea how you feel because they have a comfortable life and you have nothing in common with Christians like that?
This is my life........has been my life and probably will continue being my life. So my only hope is heaven.......not this garbage can down here. The apostle Paul said it well in Philippians 1 verse 23, "For I am in a strait betwixt two, having a desire to depart, and to be with Christ; which is FAR better"............no doubt Paul said that because of all the crap he had to endure. One thing I have learned for sure is that suffering gives you a greater appreciation and longing for Eternity. This is a garbage can......it's Satan's garbage can and God said one day that He would destroy this earth and create a new one wherein only righteousness dwells. That's the day I long for......until then it's like living in a concentration camp under Nazi rule. So to encourage my own heart as Paul frequently had to do ( II Timothy 4:16 ), I will remember what Paul said in Philippians 3 verse 8, "Yea doubtless, and I count all things but loss for the excellency of the knowledge of Christ Jesus my Lord: for whom I have suffered the loss of all things, and do count them but DUNG, that I may win Christ", so yes, everything down here is worthless crap when compared to the beauty, perfection, and glory of Christ Jesus so why should I be upset over losing something (whether that be friends, family, possessions, etc., all), that's elephant crap anyway!
"I cried unto the Lord with my voice; with my voice unto the Lord did I make my supplication. I poured out my complaint before Him; I showed before Him my trouble. When my spirit was overwhelmed within me, then thou knewest my path. In the way wherein I walked have they privily laid a snare for me. I looked on my right hand, and beheld, but there was no man that would know me; refuge failed me; no man cared for my soul. I cried unto thee, O Lord: I said, thou art my refuge and my portion in the land of the living. Attend unto my cry, for I am brought very low: deliver me from my persecutors; for they are stronger than I. (bring my soul out of prison), that I may praise thy name: the righteous shall compass me about; for thou shalt deal boutifully with me"...............Psalm 142
****special note.......my mouth might be a little profane which is why I used blanks and God forgive me for that, but somehow I know that is the only way to express how I really feel without putting on a fake church face and plaster smile or the use of pious platitudes which so many use for their so-called spirituality.
*********I appreciate the Psalms of King David. David had his ups and downs in life. Clearly he poetically revealed his moments of despair and his moments of trust and faith in God. David was real, expressing his joys and his lamentations. He revealed his courage and his vulnerabilities. Some days he was full of confident faith, other days he was down in the dumps........so naturally I relate quite well to him. Some days are good, others not so good, but I do know my times are in His hands.
Sunday, November 2, 2008
Tuesday, October 7, 2008
A global collapse?
They say that as the U.S. goes, so goes the rest of the world. Be that true as we see global stock markets falling around the world and Fed speak of a global rate cut. Things are falling into place as God sets the stage for a global one world economy, currency, and religion. You can not be a Believer in Christ and be ignorant of the times. It's time to lift up your head for your Redemption draweth nigh. People need to come to Christ or they will die in their sins. I'm excited to see these times as God orchestrates these events.
I'm just waiting and anticipating!
Our national economy..............$14 Trillion dollars.........our national debt........$10 Trillion dollars. Soon our debt will exceed our "superior" economy. "The wicked shall be turned into Hell and all the nations that forget God"..............Psalm 9:17
I'm just waiting and anticipating!
Our national economy..............$14 Trillion dollars.........our national debt........$10 Trillion dollars. Soon our debt will exceed our "superior" economy. "The wicked shall be turned into Hell and all the nations that forget God"..............Psalm 9:17
Saturday, September 27, 2008
Our Growing National Debt
Our national debt is growing insidiously and THAT alone will drive this country's economy to collapse. Enough is enough. President Andrew Jackson was in my opinion the only sensible man who ran in office. He was the only man who understood how important it was for the new republic to be debt free. He had such disdain for those investments bankers who wanted to control the nations' money. Unfortunately, all his efforts went null and void as Presidents after him did not share his views. Once those GREEDY investments bankers deceived "simpleton" Woodrow Wilson into signing the FEDERAL RESERVE ACT, this country was doomed. Afterwards, Wilson admitted to unwittingly ruining his country.
I say enough is enough. Let the tax payer alone. Let the greedy investments bankers swallow their own deceitfulness. And if less credit is available to the average Jane Doe on "Main Street" and to big companies, that's ok. Americans have way too much debt and many live way above their means. Stunted growth is ok, it will not kill us. However, the national debt will and even Warren Buffet agrees wholeheartedly with that in his recent documentary I.O.U.S.A.
It's time Congress acts on behalf of the American people, not the wealthy, powerful people who work so hard to seduce and control Washington. Our "elected officials" were elected by the American people and are there to serve the American people, not Wall Street. Besides they have already bailed out enough. From Bears Sterns, to Fanny and Freddy, enough is enough. This is the time to make LUCID decisions, not decisions based on panic!
I say enough is enough. Let the tax payer alone. Let the greedy investments bankers swallow their own deceitfulness. And if less credit is available to the average Jane Doe on "Main Street" and to big companies, that's ok. Americans have way too much debt and many live way above their means. Stunted growth is ok, it will not kill us. However, the national debt will and even Warren Buffet agrees wholeheartedly with that in his recent documentary I.O.U.S.A.
It's time Congress acts on behalf of the American people, not the wealthy, powerful people who work so hard to seduce and control Washington. Our "elected officials" were elected by the American people and are there to serve the American people, not Wall Street. Besides they have already bailed out enough. From Bears Sterns, to Fanny and Freddy, enough is enough. This is the time to make LUCID decisions, not decisions based on panic!
Thursday, September 25, 2008
Oh brother, another bail out!
Question............Where is this $700 million dollars going to come from? Oh, yes I forget, the Fed has this great big printing press in their back room where they conduct their clandestine affairs. But all that does is devalue the mighty green back. Some day soon the U.S banknote will be worthless. Does Congress actually listen to the American people? No, this is why most Americans are fed up with Washington. This whole thing is ridiculous. That $700 billion dollars could be used so much more wisely for our future in alternative energies. Or they could invest that money in highways and bridges and leeves.
The folks on TV are telling us that billions of dollars could be lost and the economy will collapse, but frankly it's these very rich investment bankers and CEO's that will loose billions, not the guy on "Main Street". Yes, the economy is not great right now, but if we don't "act" right now, the economy will not collapse. That's just fear tactics to get the American people to support this bail out. Obviously the objective is to raise capital and perhaps try to release more credit into the market, so why don't they have a charity auction to raise money for these banks that screwed up? Or perhaps they could privitize the emergency money? Didn't Warren Buffet invest $5 billion in Goldman or should I say "donate"? We, the tax payer, went through this during the S&L crisis. Again the tax payer had to foot the bill. But did that change Wall Street? No, of course not and even with the so-called SEC, we still have seen unrestrained greed. They are stealing from our children's future, if they will even have one and Social Security and Medicare will be bankrupt. Things are just looking pretty bleak! You don't have to be an economist or even a prophet to see that things will no doubt get worse. But it will not be a sudden collapse. It will be a slow, steady decline in this country as it has been for years. And listen, implementing policies and shifts in direction will not come without any pain, just as our break away from our dependence on foreign oil will not (if that ever happens), but changes need to be made if we are even going to change the direction this country is going in. And that is irrespective of any political party.
Oh, and just because gas prices have fallen a little and a barrel of oil on the NYMEX has fallen, does not mean that our energy crisis has some how disappeared. Today's production can not keep up with global demand and we have explored every nook and cranny of this world. The ground looks like swiss cheese already. And these "Big" oil companies are loosing their power very quickly as their drilling rights and contracts are being revamped by these non-opec countries. Hey, they say, we want more of the profits, rendering these "Big" oil companies powerless.
The folks on TV are telling us that billions of dollars could be lost and the economy will collapse, but frankly it's these very rich investment bankers and CEO's that will loose billions, not the guy on "Main Street". Yes, the economy is not great right now, but if we don't "act" right now, the economy will not collapse. That's just fear tactics to get the American people to support this bail out. Obviously the objective is to raise capital and perhaps try to release more credit into the market, so why don't they have a charity auction to raise money for these banks that screwed up? Or perhaps they could privitize the emergency money? Didn't Warren Buffet invest $5 billion in Goldman or should I say "donate"? We, the tax payer, went through this during the S&L crisis. Again the tax payer had to foot the bill. But did that change Wall Street? No, of course not and even with the so-called SEC, we still have seen unrestrained greed. They are stealing from our children's future, if they will even have one and Social Security and Medicare will be bankrupt. Things are just looking pretty bleak! You don't have to be an economist or even a prophet to see that things will no doubt get worse. But it will not be a sudden collapse. It will be a slow, steady decline in this country as it has been for years. And listen, implementing policies and shifts in direction will not come without any pain, just as our break away from our dependence on foreign oil will not (if that ever happens), but changes need to be made if we are even going to change the direction this country is going in. And that is irrespective of any political party.
Oh, and just because gas prices have fallen a little and a barrel of oil on the NYMEX has fallen, does not mean that our energy crisis has some how disappeared. Today's production can not keep up with global demand and we have explored every nook and cranny of this world. The ground looks like swiss cheese already. And these "Big" oil companies are loosing their power very quickly as their drilling rights and contracts are being revamped by these non-opec countries. Hey, they say, we want more of the profits, rendering these "Big" oil companies powerless.
Thursday, September 18, 2008
More bank failures to come........
So now we have seen the largest insurance company, AIG, with over $1 trillion in assests, become the latest victim of the subprime mess. This problem is like a cancer that is proliferating with no end in sight. This problem runs so deep that we have not seen the last merger or bankruptcy. There is more to come, no doubt. The problem is these collateralized debt obligations, which are securities that package together mortgage and other debt and are sold to investors. But it's these risky investments that went sour and in the end could cost investors and companies trillions of dollars.
Washington Mutual will be next and Morgan Stanley will have to merge just to survive. I am not an economist and I didn't even go to college but I know I would never buy a house with no money down and I wouldn't even think about buying a house on shaky credit and with low-income. The so-called American dream is not for everyone and there are some things in life that we just can't have and the leadership in these banks and these mortgage brokers obviously did not care, much less think about the consequences. Most people have probally realized by now that the market was driven by greed more so than ignorance. And now we will no doubt see more regulation by the government; another step in a socialized direction. Or perhaps another step in a global currency...........even the stock markets around the world have been effected by the subprime mess.
I think everyone should be weighing their bank's health. Despite deposit insurance, it's important to understand your institution's financial strength. I mean, after all, who's next to fail? When the FDIC took over IndyMac in July, about 10,000 customers of the California-based mortgage lender had $1 billion in uninsured deposits. So all those people lost their savings. Frankly though, the way this economy is going, just about everyone's retirement account will be wiped away by bad investments and inflation, with health care being the worst.
More to come....
Washington Mutual will be next and Morgan Stanley will have to merge just to survive. I am not an economist and I didn't even go to college but I know I would never buy a house with no money down and I wouldn't even think about buying a house on shaky credit and with low-income. The so-called American dream is not for everyone and there are some things in life that we just can't have and the leadership in these banks and these mortgage brokers obviously did not care, much less think about the consequences. Most people have probally realized by now that the market was driven by greed more so than ignorance. And now we will no doubt see more regulation by the government; another step in a socialized direction. Or perhaps another step in a global currency...........even the stock markets around the world have been effected by the subprime mess.
I think everyone should be weighing their bank's health. Despite deposit insurance, it's important to understand your institution's financial strength. I mean, after all, who's next to fail? When the FDIC took over IndyMac in July, about 10,000 customers of the California-based mortgage lender had $1 billion in uninsured deposits. So all those people lost their savings. Frankly though, the way this economy is going, just about everyone's retirement account will be wiped away by bad investments and inflation, with health care being the worst.
More to come....
Tuesday, August 26, 2008
The Future of Big Oil
Oil production has begun falling at all the major Western oil companies, and they are having a harder time finding new prospects, even as they bring in record profits. We are finding many reasons for this......one being political and of course the other simply being the law of supply and demand. The political aspect has many consequences, as we know and Western oil companies are being deprived of resource-rich provinces. These companies are being forced to renegotiate contracts on less-favorable terms and are fighting losing battles with assertive state-owned oil companies. These oil giants that once dominated the global market have lost their influence and with it, their ability to increase supplies.
The sharp retreat in all of the commodities' prices over the last month, about 20%, reflects slowing global growth. But don't let the slowing demand or the drop in oil prices deceive you. Rising demand from growing economies in China and India will continue to stress the market and these oil companies as well, finding supply more and more difficult to come by. With the mature regions such as the North Sea and Alaska, production has greatly been reduced. In a word, oil production has failed to keep up with demand and as we see on television and the media, people are beginning to realize the enormity of this problem.
Five of the biggest publicly traded oil companies, including Exxon Mobile, said their oil output had declined by 614,000 barrels a day. And even though that may not seem like a lot in a world that consumes 86 million barrels a day, today's markets are so tight that just one event, such as a hurricane or a geopolitical event (Russia invading Georgia), can easily cause havoc. These big oil companies have contracts with producing countries whose governments are allocating fewer barrels to them as prices rise. These governments realize they need to keep their own oil reserves. And speaking in terms of investments..........International companies have a portfolio of assests in areas of significant decline and no frontier discoveries to make up for that. We're talking financial losses in epic proportions. We have seen what the subprime mess did and the cancer that infected not just housing, but the financial markets, financial institutions and even government backed Fanny and Freddy.
Energy experts do not expect oil supplies to grow this year in countries outside of OPEC and yet global demand for oil is expected to expand by 800,000 barrels a day. OPEC as a whole has about 2 million barrels in untapped capacity that it's members control. And just as early as 30 years ago, Western corporations controlled more than half of the world's oil production. Today, however, they now produce just 13 percent. These companies we know as BP, Royal Dutch Shell, Chevron, Conoco Phillips, and Exxon Mobil. The largest holders of petroleum reserves now are stated-owned companies like Russia's Gazprom and Iran's national oil company. Ezekiel's war in chapter 37 and 38 is looking more and more of a reality right on the horizon.
Oil company executives contend that they have been shut out of promising regions by a rising assertiveness in the Middle East, in Russia, in South America and elsewhere by governments determined to keep full control of their oil. Even where Western companies are allowed to operate, countries such as Russia, Algeria, Nigeria and Angola have recently sought to renegotiate their contracts with foreign investors to capture a bigger share of the profits.
Western oil companies could have done more after the oil-price collapse of the mid-1980's. They could have invested heavily in exploration and production. In 1994, the top 5 oil companies spent 3% of their free cash on share buybacks and 15% on exploration. By 2007, they were spending 34% of their free cash on buybacks, which propped up their share prices, and only 6% on exploration.
The sharp retreat in all of the commodities' prices over the last month, about 20%, reflects slowing global growth. But don't let the slowing demand or the drop in oil prices deceive you. Rising demand from growing economies in China and India will continue to stress the market and these oil companies as well, finding supply more and more difficult to come by. With the mature regions such as the North Sea and Alaska, production has greatly been reduced. In a word, oil production has failed to keep up with demand and as we see on television and the media, people are beginning to realize the enormity of this problem.
Five of the biggest publicly traded oil companies, including Exxon Mobile, said their oil output had declined by 614,000 barrels a day. And even though that may not seem like a lot in a world that consumes 86 million barrels a day, today's markets are so tight that just one event, such as a hurricane or a geopolitical event (Russia invading Georgia), can easily cause havoc. These big oil companies have contracts with producing countries whose governments are allocating fewer barrels to them as prices rise. These governments realize they need to keep their own oil reserves. And speaking in terms of investments..........International companies have a portfolio of assests in areas of significant decline and no frontier discoveries to make up for that. We're talking financial losses in epic proportions. We have seen what the subprime mess did and the cancer that infected not just housing, but the financial markets, financial institutions and even government backed Fanny and Freddy.
Energy experts do not expect oil supplies to grow this year in countries outside of OPEC and yet global demand for oil is expected to expand by 800,000 barrels a day. OPEC as a whole has about 2 million barrels in untapped capacity that it's members control. And just as early as 30 years ago, Western corporations controlled more than half of the world's oil production. Today, however, they now produce just 13 percent. These companies we know as BP, Royal Dutch Shell, Chevron, Conoco Phillips, and Exxon Mobil. The largest holders of petroleum reserves now are stated-owned companies like Russia's Gazprom and Iran's national oil company. Ezekiel's war in chapter 37 and 38 is looking more and more of a reality right on the horizon.
Oil company executives contend that they have been shut out of promising regions by a rising assertiveness in the Middle East, in Russia, in South America and elsewhere by governments determined to keep full control of their oil. Even where Western companies are allowed to operate, countries such as Russia, Algeria, Nigeria and Angola have recently sought to renegotiate their contracts with foreign investors to capture a bigger share of the profits.
Western oil companies could have done more after the oil-price collapse of the mid-1980's. They could have invested heavily in exploration and production. In 1994, the top 5 oil companies spent 3% of their free cash on share buybacks and 15% on exploration. By 2007, they were spending 34% of their free cash on buybacks, which propped up their share prices, and only 6% on exploration.
Sunday, August 24, 2008
Pick your poison
According to a report published in The Journal of Gender Studies, many American women are bucking centuries of traditional gender roles by placing stunted, emotionally unfulfilling relationships on hold in order to pursue mind-numbing careers devoid of any upward mobility.
The study, which surveyed a cross-section of 477 female recent college graduates, found that young women were 23 percent more likely than any previous generation to seek dissatisfaction in the professional world rather than in empty romantic partnerships. Dr. Gillian Detweiller, a professor of women's studies at the University of Maryland and coauthor of the report, said that the data suggests a cultural sea change in how women choose to experience lifelong disappointment!!!
I am one of these women that this article is talking about. In my early twenties I dated several men and always came up empty......just too much shallowness, so I turned my attention to work instead. But unfortunately, that too, has turned up empty. I have gone through so many jobs in the healthcare field that my work is actually becoming an oppressive burden. What gives? Going to heaven? Yeah! I'm all for it. Many times I just wish God would get on with this world and bring all the injustice to an end and wrap it all up. Many times I wonder how God allows all this evil and particularly, the evil in men's and women's hearts, to go on. In the days of Noah, God looked on man's hearts and saw NOT ONE noble intention.....in fact man's heart was intentionally evil all the time and God was sorry He even created man. Wow, pretty pathetic isn't it? As a Christian, I am perpetually disturbed in my heart by all the mindless nonsense I see in the workforce, particularly among women. It seems people thrive on gossip, backbitting, backstabbing, deceitfulness and the like. When someone comes along and makes it very clear they have absolutely no intention of being that kind of person, they will immediately become the subject of scrutiny. In other words, they will stand out like a sore thumb.
In the many jobs I have had in Long term care, some women are like Nazi troopers, beastly, with very little feminine qualities. They seem to thrive on gossip, backstabbing and tearing another individual down to absolutely nothing. It's make you wonder where these people were raised. Were they raised on the African plains were they became savage beasts just to survive? I don't know, but it has become increasingly depressing to work with people like that. And this is why I keep quitting jobs. The last job I was at, I explained to the director of nursing that I am not a gossip, I am actually a loner because I will not engage in mindless chatter that is only about tearing another person down. She tells everyone that I am not a social person and I don't like to chit-chat. Well, that's not entirely true. I am social and I do like to talk, but I will not engage in mindless negative gossip. There's a big difference between constructive criticism (that has the goal in mind of making a person better) and criticism that based only in contempt. The first one is postive, the latter is negative. And it just seems that people are more interested in the latter. Everyday I would go to work, on my break I would sit in the break room and turn on the TV and it never failed, a soap opera was on. When people fill their mind with mindless crap, out will come mindless crap. I have encouraged women repeatedly through the years to read a newspaper instead of reading a Harlequin Romance novel. To watch the History channel instead of watching soap operas (that basically teach you to be a backstabbing you know what).
I've also encouraged women to read the dictionary to enhance their vocabulary. These are all postive, not negative. But unfortunately, people have no interest in intelligent things, but rather juicy gossip and mindless, idle chatter.
Even in churches that I have attended, I have found this to be true. People seem to be more interested in competing and knowing the latest gossip of a divorce or an affair or the new person attending than they do in what the sermon was about or what God was doing in their life. I have found that people can recollect very sharply the latest gossip than they can the morning sermon and how God spoke to their heart. Why is this? Is it more entertaining and exciting to know the lastest gossip or is it that people can't stand living a "boring" life of minding their own business as the Bible admonishes us to do in I Thessalonians 4:11 and 12? The other problem that I have found to be true with many people is their certain pettiness. It seems that all their brain can focus on is the petty things........the unimportant things when measured in terms of perspective. Through the years, I have worked along side women and have been in relationships with men in which everything I do and say is scrutinized to the point where it just becomes unbearable and intolerable. So I just bail out or quit because I can't stand it anymore. Why do people have to focus on petty "stuff"? (I would use another "choice" word in here but I'll refrain from using it) I mean, in the grand scope of things, how important is the fact that I use sweet-n-low on my salad? Or that I eat cocoa puffs for breakfast? (I'm using these as an example to show you the futility). You find this very evident in Washington politics as well. Congress is too busy battling out their partisanship over petty things than they are in actually addressing the real important matters such as the obvious energy crisis, not to mention the healthcare crisis in this country and our national debt which will no doubt lead to this country's demise. What about social security and medicare.........these programs that will undoubtly go broke in time. No, congress is too busy fighting back and fourth because they can't agree, so instead they decide to pass laws on things they can agree on like naming a highway or making a new national holiday. (Rep. John Shimkus of Illinois introduced a resolution to recognize June 30 as National Corvette Day. "It's probably not the best use of our time, but we have to do something. These resolutions make it look like we're working"). No wonder we see very little productivity.
I have always said I prefer to be autonomous and be by myself. Now you know why. And in terms of my job, this is why I prefer homecare instead. It's just me and the client and I can freelance my skills and experience, not to mention my unique gifts to a person in need of companionship and assistance with their adl's. I have never succeeded in Long-term care nor have I succeeded working in an office environment or anywhere where there is a "peaking order". Too many clicks, or in the case of politics, to much partianship and very little productivity. I have never been one to run with the herd, even in High School, I never cared about popularity or being in the "in" crowd or making sure my name was in every club. I was a loner, but that did not mean that I didn't have friends. Quality is much better than quanity.
The only conclusion I can come to is that the reason people engage in premediated backstabbing and gossip and deceitfulness is because they think the crowd will like them and accept them into the "group" or click. We know that to be true in High School. If you didn't drink, smoke and party or engage in premarital sex, then you were a square. It's unbelievable that people will be more inclined to engage in juicy gossip than they will in perserving someone's reputation and they do this all to their own advancement in the group. The worst part.........these people have no shame, much less a conscience. They spread their posion everywhere and this is why God is shoved out of their lives because they don't want to be held accountable for their actions nor do they what to be held to a standard of righteousness.
The study, which surveyed a cross-section of 477 female recent college graduates, found that young women were 23 percent more likely than any previous generation to seek dissatisfaction in the professional world rather than in empty romantic partnerships. Dr. Gillian Detweiller, a professor of women's studies at the University of Maryland and coauthor of the report, said that the data suggests a cultural sea change in how women choose to experience lifelong disappointment!!!
I am one of these women that this article is talking about. In my early twenties I dated several men and always came up empty......just too much shallowness, so I turned my attention to work instead. But unfortunately, that too, has turned up empty. I have gone through so many jobs in the healthcare field that my work is actually becoming an oppressive burden. What gives? Going to heaven? Yeah! I'm all for it. Many times I just wish God would get on with this world and bring all the injustice to an end and wrap it all up. Many times I wonder how God allows all this evil and particularly, the evil in men's and women's hearts, to go on. In the days of Noah, God looked on man's hearts and saw NOT ONE noble intention.....in fact man's heart was intentionally evil all the time and God was sorry He even created man. Wow, pretty pathetic isn't it? As a Christian, I am perpetually disturbed in my heart by all the mindless nonsense I see in the workforce, particularly among women. It seems people thrive on gossip, backbitting, backstabbing, deceitfulness and the like. When someone comes along and makes it very clear they have absolutely no intention of being that kind of person, they will immediately become the subject of scrutiny. In other words, they will stand out like a sore thumb.
In the many jobs I have had in Long term care, some women are like Nazi troopers, beastly, with very little feminine qualities. They seem to thrive on gossip, backstabbing and tearing another individual down to absolutely nothing. It's make you wonder where these people were raised. Were they raised on the African plains were they became savage beasts just to survive? I don't know, but it has become increasingly depressing to work with people like that. And this is why I keep quitting jobs. The last job I was at, I explained to the director of nursing that I am not a gossip, I am actually a loner because I will not engage in mindless chatter that is only about tearing another person down. She tells everyone that I am not a social person and I don't like to chit-chat. Well, that's not entirely true. I am social and I do like to talk, but I will not engage in mindless negative gossip. There's a big difference between constructive criticism (that has the goal in mind of making a person better) and criticism that based only in contempt. The first one is postive, the latter is negative. And it just seems that people are more interested in the latter. Everyday I would go to work, on my break I would sit in the break room and turn on the TV and it never failed, a soap opera was on. When people fill their mind with mindless crap, out will come mindless crap. I have encouraged women repeatedly through the years to read a newspaper instead of reading a Harlequin Romance novel. To watch the History channel instead of watching soap operas (that basically teach you to be a backstabbing you know what).
I've also encouraged women to read the dictionary to enhance their vocabulary. These are all postive, not negative. But unfortunately, people have no interest in intelligent things, but rather juicy gossip and mindless, idle chatter.
Even in churches that I have attended, I have found this to be true. People seem to be more interested in competing and knowing the latest gossip of a divorce or an affair or the new person attending than they do in what the sermon was about or what God was doing in their life. I have found that people can recollect very sharply the latest gossip than they can the morning sermon and how God spoke to their heart. Why is this? Is it more entertaining and exciting to know the lastest gossip or is it that people can't stand living a "boring" life of minding their own business as the Bible admonishes us to do in I Thessalonians 4:11 and 12? The other problem that I have found to be true with many people is their certain pettiness. It seems that all their brain can focus on is the petty things........the unimportant things when measured in terms of perspective. Through the years, I have worked along side women and have been in relationships with men in which everything I do and say is scrutinized to the point where it just becomes unbearable and intolerable. So I just bail out or quit because I can't stand it anymore. Why do people have to focus on petty "stuff"? (I would use another "choice" word in here but I'll refrain from using it) I mean, in the grand scope of things, how important is the fact that I use sweet-n-low on my salad? Or that I eat cocoa puffs for breakfast? (I'm using these as an example to show you the futility). You find this very evident in Washington politics as well. Congress is too busy battling out their partisanship over petty things than they are in actually addressing the real important matters such as the obvious energy crisis, not to mention the healthcare crisis in this country and our national debt which will no doubt lead to this country's demise. What about social security and medicare.........these programs that will undoubtly go broke in time. No, congress is too busy fighting back and fourth because they can't agree, so instead they decide to pass laws on things they can agree on like naming a highway or making a new national holiday. (Rep. John Shimkus of Illinois introduced a resolution to recognize June 30 as National Corvette Day. "It's probably not the best use of our time, but we have to do something. These resolutions make it look like we're working"). No wonder we see very little productivity.
I have always said I prefer to be autonomous and be by myself. Now you know why. And in terms of my job, this is why I prefer homecare instead. It's just me and the client and I can freelance my skills and experience, not to mention my unique gifts to a person in need of companionship and assistance with their adl's. I have never succeeded in Long-term care nor have I succeeded working in an office environment or anywhere where there is a "peaking order". Too many clicks, or in the case of politics, to much partianship and very little productivity. I have never been one to run with the herd, even in High School, I never cared about popularity or being in the "in" crowd or making sure my name was in every club. I was a loner, but that did not mean that I didn't have friends. Quality is much better than quanity.
The only conclusion I can come to is that the reason people engage in premediated backstabbing and gossip and deceitfulness is because they think the crowd will like them and accept them into the "group" or click. We know that to be true in High School. If you didn't drink, smoke and party or engage in premarital sex, then you were a square. It's unbelievable that people will be more inclined to engage in juicy gossip than they will in perserving someone's reputation and they do this all to their own advancement in the group. The worst part.........these people have no shame, much less a conscience. They spread their posion everywhere and this is why God is shoved out of their lives because they don't want to be held accountable for their actions nor do they what to be held to a standard of righteousness.
Tuesday, July 1, 2008
Oil Genesis continued.......
This post is continued from my previous post on Oil Genesis on where oil comes from.........
*There are no big open caverns at oilwell depths. The oil is trapped in rocks with significant porosity, known as reservoir rocks. ("Significant" is more than 5%.) Roughly half of the world's oil comes from sandstone reservoirs. Almost all of the other half comes form limestone and dolomite. Limestones-which is calcium carbonate, CaCO3 -is formed mostly by marine plants and animals in ocean surface waters. Dolomite, a calcium-magnesium carbonate, CaMg(CO3)2, is still not fully understood, but it makes some of the best reservoir rocks.
*The pore spaces in the rock have to be connected to one another so that oil or gas can flow through the rock; the pore connectivity is called permeability. Gas bubbles in a solidified lava flow are examples of pores that are not connected to one another. Permeability depends on the square of the grain size. Doubling the diameter of the sand grains in a sandstone increases the permeability by a factor of four. Increasing the grain size by a factor of ten makes the permeability a million times larger.
*At least one rock layer between the oil reservoir and the surface has to make a leak-tight seal, called a cap rock. The first layer above a commercial reservoir rock is often mistakenly identified as the cap rock, although it usually is simply an oil saturated but noncommercial reservoir rock. Leak- proof cap rocks are special; very fine-grained mudstones and evaporite layers like halite (NaCI, table salt) and anhydrite (CaSO4).
From my first post on oil genesis until this post, there are 7 essential ingredients in crude oil. If one or more is missing, you will find zero oil.
*There are no big open caverns at oilwell depths. The oil is trapped in rocks with significant porosity, known as reservoir rocks. ("Significant" is more than 5%.) Roughly half of the world's oil comes from sandstone reservoirs. Almost all of the other half comes form limestone and dolomite. Limestones-which is calcium carbonate, CaCO3 -is formed mostly by marine plants and animals in ocean surface waters. Dolomite, a calcium-magnesium carbonate, CaMg(CO3)2, is still not fully understood, but it makes some of the best reservoir rocks.
*The pore spaces in the rock have to be connected to one another so that oil or gas can flow through the rock; the pore connectivity is called permeability. Gas bubbles in a solidified lava flow are examples of pores that are not connected to one another. Permeability depends on the square of the grain size. Doubling the diameter of the sand grains in a sandstone increases the permeability by a factor of four. Increasing the grain size by a factor of ten makes the permeability a million times larger.
*At least one rock layer between the oil reservoir and the surface has to make a leak-tight seal, called a cap rock. The first layer above a commercial reservoir rock is often mistakenly identified as the cap rock, although it usually is simply an oil saturated but noncommercial reservoir rock. Leak- proof cap rocks are special; very fine-grained mudstones and evaporite layers like halite (NaCI, table salt) and anhydrite (CaSO4).
From my first post on oil genesis until this post, there are 7 essential ingredients in crude oil. If one or more is missing, you will find zero oil.
Wednesday, June 18, 2008
Emerging markets, not Wall Street, hold 75% of the world's foreign exchange reserves.
To those who think the West is the most sovereign nation in the world, think again...........the above statement is a sobering reality to this nation's demise.
"The wicked shall be turned into hell, and all the nations that forget God".........Psalm 9:17
To those who think the West is the most sovereign nation in the world, think again...........the above statement is a sobering reality to this nation's demise.
"The wicked shall be turned into hell, and all the nations that forget God".........Psalm 9:17
Monday, June 9, 2008
"Tough" barrels in oil production
I decided to repost this from it's first date of post in early March of this year because of it's importance. Oil will soon be trading on the NYMEX for $200 a barrel. Wall Street is in for a rude awakening or should I say "Crude Awakening". Nations go to war over oil and I believe that is coming very quickly. Time is running out..........
In Hammerfest Norway energy executives were suduced by vast quantities of natural gas in one of the world's least hospitable places.....90 miles of Norway's northern coast, beneath the Arctic Circle. Freezing winds and blanketing snowstorms lash the region. No oil company knew how to operate in such harsh conditions.
But Norway has solved the problem.......one of the most advanced natural gas plants is coming to life. Gas will start crossing the ocean in specially designed ships, feeding into the pipeline network for America's East Coast. It will be the first commercial energy production from waters north of the Arctic Circle.
As global demand soars and prices rise, energy companies are going to the ends of the earth to find new supplies. In Kazakhstan, petroleum engineers are braving wild temperature swings in the shallow waters of the Caspian Sea to tap the biggest oil discovery of the last 30 years. They are drilling wells 6 miles deep in the Gulf of Mexico. And on the island of Sakhalin, off far eastern Russia, they have drilled horizontal wells through miles of rock to produce oil from a stretch of ocean notable for giant icebergs.
But as the industry extends its reach, the quest is becoming more arduous. The cost of producing new oil and gas is rising fast, and companies are troubled by worsening delays. Drilling rigs are scarce. Engineers, geologists and petroleum specialists are in critically short supply. And the POLITICS of oil and gas are getting trickier, with producing countries demanding a bigger share of the revenue and angry about project delays that postpone their payments.
Industry executives say their ability to keep up with global demand is badly strained. "We're facing bigger risks and bigger difficulties when we go into new frontier regions", said Odd A. Mosbergvik, a senior manager at the dominant Norwegian energy company, StatoilHydro. "But this is why the oil industry is for big boys. It's a big gamble."
The industry's new reach is shifting the economics of energy extraction. According to a recent study, discovery and development costs, a key indicator for the industry, tripled from 1999 to 2006, to nearly $15 a barrel. Last year alone, companies spent $200 billion developing new energy projects worldwide according tot he study by the consulting firms John S. Herold Inc. and Harrison Lovegrove- an amount larger than the economies of 147 countries.
These higher costs mean that the industry needs higher energy prices to finance new projects. They are also constraining its ability to expand quickly. "There are no easy barrels left," said J. Robinson West, chairman of PFC Energy, an industry consulting firm in Washington. "The only barrels are going to be the tough barrels."
There is plenty of oil and gas still in the ground, energy executives say. But the global consumption is rising SO FAST that they must keep looking for new sources. Despite worldwide concern over the role of fossil fuels, U.S. government specialists project that global oil and gas demand will increase by some 50% in the next 25 years.
At the same time, the big discoveries of the last 3 decades, like those in the North Sea and on the North Slope of Alaska, are drying up. So with the rising prices of oil and gas.....topping @ over $110 a barrel, it is not a matter of inflation or a weaker dollar as some economists would suggest, but rather a simple matter of supply and demand and that supply is quickly running out.
Another great book to pique your interest......."Twilight in the desert" by Matthew Simmons. It's about an inflated estimate of Saudi oil reserves. He believes that the largest oil basin ever found in the world has already been depleted by @ least 50%. However OPEC continues to reassure the public that they have plenty more oil to produce and can actually produce more oil. My question.......so how come they haven't?
In Hammerfest Norway energy executives were suduced by vast quantities of natural gas in one of the world's least hospitable places.....90 miles of Norway's northern coast, beneath the Arctic Circle. Freezing winds and blanketing snowstorms lash the region. No oil company knew how to operate in such harsh conditions.
But Norway has solved the problem.......one of the most advanced natural gas plants is coming to life. Gas will start crossing the ocean in specially designed ships, feeding into the pipeline network for America's East Coast. It will be the first commercial energy production from waters north of the Arctic Circle.
As global demand soars and prices rise, energy companies are going to the ends of the earth to find new supplies. In Kazakhstan, petroleum engineers are braving wild temperature swings in the shallow waters of the Caspian Sea to tap the biggest oil discovery of the last 30 years. They are drilling wells 6 miles deep in the Gulf of Mexico. And on the island of Sakhalin, off far eastern Russia, they have drilled horizontal wells through miles of rock to produce oil from a stretch of ocean notable for giant icebergs.
But as the industry extends its reach, the quest is becoming more arduous. The cost of producing new oil and gas is rising fast, and companies are troubled by worsening delays. Drilling rigs are scarce. Engineers, geologists and petroleum specialists are in critically short supply. And the POLITICS of oil and gas are getting trickier, with producing countries demanding a bigger share of the revenue and angry about project delays that postpone their payments.
Industry executives say their ability to keep up with global demand is badly strained. "We're facing bigger risks and bigger difficulties when we go into new frontier regions", said Odd A. Mosbergvik, a senior manager at the dominant Norwegian energy company, StatoilHydro. "But this is why the oil industry is for big boys. It's a big gamble."
The industry's new reach is shifting the economics of energy extraction. According to a recent study, discovery and development costs, a key indicator for the industry, tripled from 1999 to 2006, to nearly $15 a barrel. Last year alone, companies spent $200 billion developing new energy projects worldwide according tot he study by the consulting firms John S. Herold Inc. and Harrison Lovegrove- an amount larger than the economies of 147 countries.
These higher costs mean that the industry needs higher energy prices to finance new projects. They are also constraining its ability to expand quickly. "There are no easy barrels left," said J. Robinson West, chairman of PFC Energy, an industry consulting firm in Washington. "The only barrels are going to be the tough barrels."
There is plenty of oil and gas still in the ground, energy executives say. But the global consumption is rising SO FAST that they must keep looking for new sources. Despite worldwide concern over the role of fossil fuels, U.S. government specialists project that global oil and gas demand will increase by some 50% in the next 25 years.
At the same time, the big discoveries of the last 3 decades, like those in the North Sea and on the North Slope of Alaska, are drying up. So with the rising prices of oil and gas.....topping @ over $110 a barrel, it is not a matter of inflation or a weaker dollar as some economists would suggest, but rather a simple matter of supply and demand and that supply is quickly running out.
Another great book to pique your interest......."Twilight in the desert" by Matthew Simmons. It's about an inflated estimate of Saudi oil reserves. He believes that the largest oil basin ever found in the world has already been depleted by @ least 50%. However OPEC continues to reassure the public that they have plenty more oil to produce and can actually produce more oil. My question.......so how come they haven't?
Wednesday, June 4, 2008
The Clandestine Affairs of Men
Some historians say that the Revolutionary War, the War of 1812, and the civil war were fought over an attempt to control the issuance of America's currency. The Bank of England was determined to establish and control a central bank in the United States.
In 1912, the Federal Reserve Act was passed by our well-intentioned politicians, creating a central bank of the United States....under the control of the Bank of England and its European-based International Banking Cartel.
When the Federal Reserve System was established in 1913, the United States had no national debt. Today, however, our government owes this International Banking Cartel more than $13 trillion. At the end of the 20th century, all the taxes collected in America will not cover even the interest due on our national debt. When Thomas Jefferson first learned that Alexander Hamilton had been given a permit to establish a central bank, he said, "If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake homeless on the continent their fathers conquered." And that is exactly what is happening.
After the Civil War, Abraham Lincoln voiced his concern about the prospects of private control of America's currency. He said, "As a result of the war, corporations have been enthroned. And an era of corruption in high places will follow and the money power of the country will endeavor to prolong its reign by working on the prejudices of the people until wealth is aggregated in the hands of a few and the Republic is destroyed."
In 1913, Colonel Edward Mandell House, a secret representative of the International Banking Cartel, persuaded President Woodrow Wilson to support and sign the Federal Reserve Act into law. Some years later, President Wilson admitted, "I have unwittingly ruined my country." And who was Colonel Edward Mandell House? He was a proponent of world government. During the Civil War, his father, Thomas House, had been an agent of the Bank of England and had made a fortune by supplying the South with equipment and ammunition from France and England. Colonel House called himself the "unseen guardian angel" of the Federal Reserve Act. He was not only an advisor to President Woodrow Wilson, he was the unseen administrator of the Wilson White House.
In 1912, Colonel House published a novel called, "Philip Dru, Administrator", wherein he laid out a plan to bring America into a New World Order. He wrote, "America is the most undemocratic of democratic countries......our constitution and our laws served us well for the first 100 years of our existence, but under the conditions of today they are not only obsolete, but even grotesque." His book tells of a bloody revolution in the United States wherein the "Socialism of Karl Marx" would be established. Colonel House wished the same for Russia. And that revolution came in 1917......only 5 years after the publication of his book.
Over the years, there have been several attempts in our Congress to dissolve England's hold on America's currency. But all attempts have failed. Our government is filled with politicians on the payroll of the International Banking Cartel. By the middle of the 1980's, some 20 states had passed several legislation calling for an audit of the Federal Reserve System, or for a repeal of the Federal Reserve Act. But did you hear about this in the news media? NO!!! The big networks are effectively controlled by this powerful and fabulously wealthy secret society.
By the late 1980's the battle was once again taken to the floor of the United States Congress. House Resolution 1469 called for the abolition of the Open Market Committee of the Federal Reserve System, and House Resolution 1470 called for repeal of the Federal Reserve Act of 1913. Another House Resolution called for an annual audit of the Federal Reserve. But again, they all failed. How can this be? Who are these people who have a stranglehold on American politics? And what is this SECRET society which plans to bring all nations under their control?
On May 1, 1776, the infamous Illuminate was organized in Germany by Adam Weishaupt, a prominent member of one of the secret societies evolving from the Knights Templar. His sinister organization conspired for the overthrow of all governments and the establishment of a New World Order. Weishaupt wrote, "We must do our utmost to procure the advancement of Illuminati into all important civil offices. By this plan we shall direct all mankind. The occuptions must be so allotted and contrived, that we may, in secret, influence all political transactions."
According to some historians, this ultra-secret organization was short-lived. But not so! They have continued to flourish under the cover of several sinister organizations until this very day. In the late 18th century they carried out the French Revolution. In the 19th century they conspired with Karl Marx to produce a plan for world conquest. In America, this secret society, funded by the International Banking Cartel, established a group called the Council on Foreign Relations. Gary Kah quotes from the handbook of the Council on Foreign Relations concerning it's origin: "On May 30, 1919, several leading members of the delegations to the Paris Peace Conference met at the Hotle Majestic in Paris to discuss setting up an international group which would advise their respective governments on international affairs." The United States branch was officially formed on July 29, 1921, and called the Council on Foreign Relations.
Over the years, this group has accomplished some astonishing feats. It established the United Nations, the Trilateral Commission, and the Club of Rome. Its tentacles reach into every facet of American life. It influences our educational system from the earliest grades to university level. It provides politicians for local, state, and federal legislatures. It educates our lawyers and controls our judicial system. And it effectively controls both political parties in our nation. It provides the candidates for our federal government in both the Democratic and Republican parties. We are told that the candidates differ in their approach to government; but in reality, it doesn't matter who is elected. Both will work for the establishment of world government. This is true not only in America, but in almost every nation in the world.
Adapted from the book....."Earth's final Days" by various authors. The post title is mine however. I thought Clandestine was a perfect description of what goes on in government and politics, not to mention throughout our whole world.
In 1912, the Federal Reserve Act was passed by our well-intentioned politicians, creating a central bank of the United States....under the control of the Bank of England and its European-based International Banking Cartel.
When the Federal Reserve System was established in 1913, the United States had no national debt. Today, however, our government owes this International Banking Cartel more than $13 trillion. At the end of the 20th century, all the taxes collected in America will not cover even the interest due on our national debt. When Thomas Jefferson first learned that Alexander Hamilton had been given a permit to establish a central bank, he said, "If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake homeless on the continent their fathers conquered." And that is exactly what is happening.
After the Civil War, Abraham Lincoln voiced his concern about the prospects of private control of America's currency. He said, "As a result of the war, corporations have been enthroned. And an era of corruption in high places will follow and the money power of the country will endeavor to prolong its reign by working on the prejudices of the people until wealth is aggregated in the hands of a few and the Republic is destroyed."
In 1913, Colonel Edward Mandell House, a secret representative of the International Banking Cartel, persuaded President Woodrow Wilson to support and sign the Federal Reserve Act into law. Some years later, President Wilson admitted, "I have unwittingly ruined my country." And who was Colonel Edward Mandell House? He was a proponent of world government. During the Civil War, his father, Thomas House, had been an agent of the Bank of England and had made a fortune by supplying the South with equipment and ammunition from France and England. Colonel House called himself the "unseen guardian angel" of the Federal Reserve Act. He was not only an advisor to President Woodrow Wilson, he was the unseen administrator of the Wilson White House.
In 1912, Colonel House published a novel called, "Philip Dru, Administrator", wherein he laid out a plan to bring America into a New World Order. He wrote, "America is the most undemocratic of democratic countries......our constitution and our laws served us well for the first 100 years of our existence, but under the conditions of today they are not only obsolete, but even grotesque." His book tells of a bloody revolution in the United States wherein the "Socialism of Karl Marx" would be established. Colonel House wished the same for Russia. And that revolution came in 1917......only 5 years after the publication of his book.
Over the years, there have been several attempts in our Congress to dissolve England's hold on America's currency. But all attempts have failed. Our government is filled with politicians on the payroll of the International Banking Cartel. By the middle of the 1980's, some 20 states had passed several legislation calling for an audit of the Federal Reserve System, or for a repeal of the Federal Reserve Act. But did you hear about this in the news media? NO!!! The big networks are effectively controlled by this powerful and fabulously wealthy secret society.
By the late 1980's the battle was once again taken to the floor of the United States Congress. House Resolution 1469 called for the abolition of the Open Market Committee of the Federal Reserve System, and House Resolution 1470 called for repeal of the Federal Reserve Act of 1913. Another House Resolution called for an annual audit of the Federal Reserve. But again, they all failed. How can this be? Who are these people who have a stranglehold on American politics? And what is this SECRET society which plans to bring all nations under their control?
On May 1, 1776, the infamous Illuminate was organized in Germany by Adam Weishaupt, a prominent member of one of the secret societies evolving from the Knights Templar. His sinister organization conspired for the overthrow of all governments and the establishment of a New World Order. Weishaupt wrote, "We must do our utmost to procure the advancement of Illuminati into all important civil offices. By this plan we shall direct all mankind. The occuptions must be so allotted and contrived, that we may, in secret, influence all political transactions."
According to some historians, this ultra-secret organization was short-lived. But not so! They have continued to flourish under the cover of several sinister organizations until this very day. In the late 18th century they carried out the French Revolution. In the 19th century they conspired with Karl Marx to produce a plan for world conquest. In America, this secret society, funded by the International Banking Cartel, established a group called the Council on Foreign Relations. Gary Kah quotes from the handbook of the Council on Foreign Relations concerning it's origin: "On May 30, 1919, several leading members of the delegations to the Paris Peace Conference met at the Hotle Majestic in Paris to discuss setting up an international group which would advise their respective governments on international affairs." The United States branch was officially formed on July 29, 1921, and called the Council on Foreign Relations.
Over the years, this group has accomplished some astonishing feats. It established the United Nations, the Trilateral Commission, and the Club of Rome. Its tentacles reach into every facet of American life. It influences our educational system from the earliest grades to university level. It provides politicians for local, state, and federal legislatures. It educates our lawyers and controls our judicial system. And it effectively controls both political parties in our nation. It provides the candidates for our federal government in both the Democratic and Republican parties. We are told that the candidates differ in their approach to government; but in reality, it doesn't matter who is elected. Both will work for the establishment of world government. This is true not only in America, but in almost every nation in the world.
Adapted from the book....."Earth's final Days" by various authors. The post title is mine however. I thought Clandestine was a perfect description of what goes on in government and politics, not to mention throughout our whole world.
Monday, June 2, 2008
Oil genesis
I have said before that the study of geology is fascinating to say the least. Understanding where crude oil comes from and how it is formed is essential to interpret the current problem with rising gas prices. The law of supply and demand is fundamental. You can factor in the weaker dollar or inflation, however, that does little to effect the price of a barrel of oil on the NYMEX. Some have said that it is price manipulation and greed from the oil companies, but unfortunatley, that too will do little to bring down the price of oil. Congress has convened with oil companies under their ethics committee to determine if price gouging is indeed going on but nevertheless, we live in a capitalistic society where companies make enormous profits. It's always been that way. So it's important for people to understand this amazing organic substance and it's indispensible value and why it's supply is indeed declining.
*Basins at the edges of the world ocean......like the Red Sea, the Yellow Sea, and the Black Sea.......sometimes develope a circulation pattern that traps marine nutrients. Dead plants and animals and fecal pellets fall out of the surface water, taking nutrients with them. They are normally oxidized by bacteria on the sea floor, which releases the nurients back into the water. This constant organic fallout from the surface continually hauls nutrients into the deep water. When an arm of the sea has more surface evaporation (from sun and wind) than freshwater input from rain and rives, a circulation pattern develops that brings in shallow ocean water and exports the nutrient rich deep water back to the main ocean. If river runoff plus rainfall exceeds surface evaporation, then nutrient-depleted surface water is exported back to the ocean and the deep water becomes a nutrient trap. Wherever the nutrient-laden deep water is mixed toward the surface, surface marine life blooms. Phosphates and nitrates are usually the critical nutrients. The Black Sea comes close to being a modern example. About a thousand years ago, the Black Sea bottom water was fully depleted of oxygen. Sediments with more than 10% organic matter were preserved on the bottom of the Black Sea. Organic-rich sediments are not common; less than 1% of all sedimentary rocks contain more than 5% organic carbon. If organic-rich sedimentary rocks were common, we would be swimming in oil.
*Burying organic-rich sediments in rocks deeper than 7,500 feet takes them into a temperature range (about 175 F) that causes large organic molecules to break into smaller pieces. Molecules with 5 to 20 carbon atoms are liquids: crude oil. Molecules with fewer than 5 carbon atoms are gases at room temperature and pressure: natural gas. A depth of 7,500 feet is called the "top of the oil window".
*Burying the sediments, or the oil, deeper than 15,000 feet continues the molecular breaking until the remaining product has only 1 carbon atom per molecule. That gas, almost pure methane, is often referred to as "dry" natural gas. The limit of 15,000 feet is the bottom of the oil window. If you are looking for oil, you need organic-rich sediments that have been buried, at some time in their history, into but not deeper than the oil window.
*After liquid crude oil is liberated within the oil window, it tends to migrate upward. The oil is not soluble in water and it floats upward because it is lighter than water. Most oil, at least 90%, finds its way to the surface as oil seeps. The remaining 10% (or less) gets trapped underground in places that are not well connected to the surface, such as domes, fossil reefs, sand lenses, and even a few meteorite impact sites.
More to come..........
*Basins at the edges of the world ocean......like the Red Sea, the Yellow Sea, and the Black Sea.......sometimes develope a circulation pattern that traps marine nutrients. Dead plants and animals and fecal pellets fall out of the surface water, taking nutrients with them. They are normally oxidized by bacteria on the sea floor, which releases the nurients back into the water. This constant organic fallout from the surface continually hauls nutrients into the deep water. When an arm of the sea has more surface evaporation (from sun and wind) than freshwater input from rain and rives, a circulation pattern develops that brings in shallow ocean water and exports the nutrient rich deep water back to the main ocean. If river runoff plus rainfall exceeds surface evaporation, then nutrient-depleted surface water is exported back to the ocean and the deep water becomes a nutrient trap. Wherever the nutrient-laden deep water is mixed toward the surface, surface marine life blooms. Phosphates and nitrates are usually the critical nutrients. The Black Sea comes close to being a modern example. About a thousand years ago, the Black Sea bottom water was fully depleted of oxygen. Sediments with more than 10% organic matter were preserved on the bottom of the Black Sea. Organic-rich sediments are not common; less than 1% of all sedimentary rocks contain more than 5% organic carbon. If organic-rich sedimentary rocks were common, we would be swimming in oil.
*Burying organic-rich sediments in rocks deeper than 7,500 feet takes them into a temperature range (about 175 F) that causes large organic molecules to break into smaller pieces. Molecules with 5 to 20 carbon atoms are liquids: crude oil. Molecules with fewer than 5 carbon atoms are gases at room temperature and pressure: natural gas. A depth of 7,500 feet is called the "top of the oil window".
*Burying the sediments, or the oil, deeper than 15,000 feet continues the molecular breaking until the remaining product has only 1 carbon atom per molecule. That gas, almost pure methane, is often referred to as "dry" natural gas. The limit of 15,000 feet is the bottom of the oil window. If you are looking for oil, you need organic-rich sediments that have been buried, at some time in their history, into but not deeper than the oil window.
*After liquid crude oil is liberated within the oil window, it tends to migrate upward. The oil is not soluble in water and it floats upward because it is lighter than water. Most oil, at least 90%, finds its way to the surface as oil seeps. The remaining 10% (or less) gets trapped underground in places that are not well connected to the surface, such as domes, fossil reefs, sand lenses, and even a few meteorite impact sites.
More to come..........
Saturday, May 31, 2008
Diagnosis: fx toe
Well it turns out that I fractured my right toe. You don't realize home much you actually use your toes until you break one. Generally when we walk, we shift our whole body weight on one foot as we move from foot to foot. Some people walk on the outside of their feet, while others tend to walk on the inside. You can usually tell whether you pronate or supinate as you walk by looking at the bottom of your shoe. If the sole of your sneaker is worn on the outside, then you supinate as you walk. Most people tend to walk on the outside of the foot this is why it's important to get sneakers with good lateral support for cross training activites. If your sneaker is worn on the inside, then you pronate.
Here's a little anatomy for you. Pronation of the foot is a combination of ankle joint dorsiflexion (moving the top of the foot toward the shin), subtalar joint eversion (lifting the lateral border of the foot) and forefoot abduction (moving away from the midline of the body). Supination of the foot is a combination of ankle joint plantarflexion (moving the sole of the foot downward; "pointing the toes"), subtalar joint inversion (lifting the medial border of the foot), and forefoot adduction (motion toward the midline of the body). Rotation occurs in the transverse plane about an imaginary axis that runs the length of the bone(s). It's amazing how little we think about these things and really how amazing our bodies are. God has designed these machines in such a way; uniquely designed unlike anything else He has created. For He said, "Let Us make man in our image, after our image, after our likeness", Genesis 1:26a.
I have never broken a bone, not even a toe or a finger until now, that is. And it will take 3 weeks to completely heal. Being a runner/jogger, this has really put a dent in my activity. But I am learning to go with flow and just accept that these things happen. Really, it could have been worse, maybe a broken hip. So for now, I'll ride my bike on flat surface to get some kind of exercise until it heals and then get back into my jogging routine.
Unless of course, boredom kills me before then! Well, the perfect Rx: the French Open!
Here's a little anatomy for you. Pronation of the foot is a combination of ankle joint dorsiflexion (moving the top of the foot toward the shin), subtalar joint eversion (lifting the lateral border of the foot) and forefoot abduction (moving away from the midline of the body). Supination of the foot is a combination of ankle joint plantarflexion (moving the sole of the foot downward; "pointing the toes"), subtalar joint inversion (lifting the medial border of the foot), and forefoot adduction (motion toward the midline of the body). Rotation occurs in the transverse plane about an imaginary axis that runs the length of the bone(s). It's amazing how little we think about these things and really how amazing our bodies are. God has designed these machines in such a way; uniquely designed unlike anything else He has created. For He said, "Let Us make man in our image, after our image, after our likeness", Genesis 1:26a.
I have never broken a bone, not even a toe or a finger until now, that is. And it will take 3 weeks to completely heal. Being a runner/jogger, this has really put a dent in my activity. But I am learning to go with flow and just accept that these things happen. Really, it could have been worse, maybe a broken hip. So for now, I'll ride my bike on flat surface to get some kind of exercise until it heals and then get back into my jogging routine.
Unless of course, boredom kills me before then! Well, the perfect Rx: the French Open!
Thursday, May 29, 2008
To be thankful!
I wonder how many people through the years have stubbed their toe on a chair, table leg, door or whatever? Well, we all know how much that hurts, kind of like banging your funny bone. So why do "they" call it the funny bone? I don't ever remember laughing when I banged my elbow on something. Generally the pain would be quite shape but eventually dissipate. Well, I have banged my elbow, stubbed my toe probally a thousand times through the years but I have never been this tramatized from stubbing my toe! I never imagined by stubbing my toe that my whole foot would swell up and turn black and blue. So who knows, maybe I broke the joint that connects to my pinky toe because when I stubbed it, I was walking pretty fast around the corner and slammed my toe into the frame of the door, probally jamming my toe into my joint. Wow, that's when you feel kind of stupid......like your IQ just dropped 100 points.
So what does a person with HIGH energy do when they are out of commission so to speak? THEY GO BATTY! Well, a little anyway or they can read a great book to gain back those 100 points of their IQ that they just lost from stubbing their toe, or they could read the newspaper, go through old emails or simply listen to Frank Sinatra. But slowing down can actually be a wonderful time of reflection and appreciation of God's wonderful grace. When I think of all the times my God has delivered me from challenging times, and how gracious He has been to me through the years, I can't help but be thankful and knowing too that time here on earth before the Lord returns is so short due to the inexorable movement of the homosexual agenda....I get so excited just thinking of His return so that finally the righteous will be vindicated and everyone will extol His righteousness. This country is rapidly declining, not only in the moral fabric but the economic fabric as well. All you have to do is just LOOK around and see!
Awhile back in early April, I had given my notice to my previous job that was basically not a very pleasant environment to work in and I wasn't sure what I should do.......should I move to Pittsburg where the opportunites are abounding or should I move back towards eastern PA? I knew that by living in a rural area, I was limiting my options, BUT, and here's the operative word, GOD never runs out of options....thank goodness......so I prayed about it. However, even when I pray, I can find myself still having a little anxiety, probally because it's human nature. We all tend to have some anxiety, even the disciples did, and it's due to our wanting and somehow needing control over our circumstances. So in my moments of anxiety, I decided to go visit my brother and his family in eastern PA to take my mind off my circumstances. I visited with my 3 nephews and took out the 2 oldest, Luke and Ben, to the mall and a picnic. I can only tell you how enjoyable that was. But most importantly what God did for me during that time. After our picnic, the boys and I walked on this bike path and Luke had run ahead of Ben and I. As I pushed Ben in the stroller, thoughts starting running through my mind about what I should do (that anxiety started lurking around again). I began weighing the options in my mind, talking out loud as if someone would hear me. Ben, who is only 4, looks out of the stroller and says to me with these adorning eyes, "what's the matter Aunt Cindy"? Well I answered him like I would any adult and because I think that's the best way to treat children, even though I know that having an adult conversation with a 4 year old child is limited. "Ben", I said, "I don't know what to do. Should I move and be with you, should I move to Pittsburg to have more options, not to mention more things to do or should I stay by Grandpa Holwick because he needs someone to help him"?. Ben looked outside the stroller at me again and with incredible sensitivity for a 4 year old, said, "It's ok Aunt Cindy, everything is going to be just fine. It will all work out, you'll see". I was so blown away by such sound judgment from a 4 year old, I realized that at that moment a 4 year old child consoled me, not an adult. And what a lesson that is for all of us. God wants out childlike trust unconditionally everyday. And I just know, God was speaking through a small child to get my attention. All because He cares for me. Just like He cares for all His children.
So remember to constantly tell your children about the Lord Jesus and show them how to invite the Lord Jesus into their life and to forgive them of their sins. They are never too young to understand the simplicity of a loving Father and their need to be forgiven. Pray for your children. My mom did for me and I came to know my Savior when I was only 4. And for that I am eternally grateful! Oh, and by the way, it did all work out in the end, just like little Ben said.
So what does a person with HIGH energy do when they are out of commission so to speak? THEY GO BATTY! Well, a little anyway or they can read a great book to gain back those 100 points of their IQ that they just lost from stubbing their toe, or they could read the newspaper, go through old emails or simply listen to Frank Sinatra. But slowing down can actually be a wonderful time of reflection and appreciation of God's wonderful grace. When I think of all the times my God has delivered me from challenging times, and how gracious He has been to me through the years, I can't help but be thankful and knowing too that time here on earth before the Lord returns is so short due to the inexorable movement of the homosexual agenda....I get so excited just thinking of His return so that finally the righteous will be vindicated and everyone will extol His righteousness. This country is rapidly declining, not only in the moral fabric but the economic fabric as well. All you have to do is just LOOK around and see!
Awhile back in early April, I had given my notice to my previous job that was basically not a very pleasant environment to work in and I wasn't sure what I should do.......should I move to Pittsburg where the opportunites are abounding or should I move back towards eastern PA? I knew that by living in a rural area, I was limiting my options, BUT, and here's the operative word, GOD never runs out of options....thank goodness......so I prayed about it. However, even when I pray, I can find myself still having a little anxiety, probally because it's human nature. We all tend to have some anxiety, even the disciples did, and it's due to our wanting and somehow needing control over our circumstances. So in my moments of anxiety, I decided to go visit my brother and his family in eastern PA to take my mind off my circumstances. I visited with my 3 nephews and took out the 2 oldest, Luke and Ben, to the mall and a picnic. I can only tell you how enjoyable that was. But most importantly what God did for me during that time. After our picnic, the boys and I walked on this bike path and Luke had run ahead of Ben and I. As I pushed Ben in the stroller, thoughts starting running through my mind about what I should do (that anxiety started lurking around again). I began weighing the options in my mind, talking out loud as if someone would hear me. Ben, who is only 4, looks out of the stroller and says to me with these adorning eyes, "what's the matter Aunt Cindy"? Well I answered him like I would any adult and because I think that's the best way to treat children, even though I know that having an adult conversation with a 4 year old child is limited. "Ben", I said, "I don't know what to do. Should I move and be with you, should I move to Pittsburg to have more options, not to mention more things to do or should I stay by Grandpa Holwick because he needs someone to help him"?. Ben looked outside the stroller at me again and with incredible sensitivity for a 4 year old, said, "It's ok Aunt Cindy, everything is going to be just fine. It will all work out, you'll see". I was so blown away by such sound judgment from a 4 year old, I realized that at that moment a 4 year old child consoled me, not an adult. And what a lesson that is for all of us. God wants out childlike trust unconditionally everyday. And I just know, God was speaking through a small child to get my attention. All because He cares for me. Just like He cares for all His children.
So remember to constantly tell your children about the Lord Jesus and show them how to invite the Lord Jesus into their life and to forgive them of their sins. They are never too young to understand the simplicity of a loving Father and their need to be forgiven. Pray for your children. My mom did for me and I came to know my Savior when I was only 4. And for that I am eternally grateful! Oh, and by the way, it did all work out in the end, just like little Ben said.
Wednesday, May 28, 2008
Economics 101
"Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist"..........Kenneth E. Boulding
Sunday, May 18, 2008
The law of supply and demand
I am reading another fantastic book..........and because I LOVE to read books, this will not be the last. Lately I have been interested in economics. I do not know why other than the fact that I just enjoy studying and learning new things and reading books gives you a wonderful opportunity to do so. I have been reading the newspaper for years and have found that to be quite an enjoyable activity, not to mention the spark of molecular currency in my brain that reading has generated. And because I am creative, it's the perfect hobby for my spare time.
Since reading is considered a hobby to me, I in no way want to extenuate the topic of this current book.
This book is about oil. And oil is becoming such a problem that I believe people are just now starting to realize how large a problem it is. Oil is the lifeline to our economy as it is to China and Indonesia. Just as blood is essential for our bodies to live, so is oil to our economy. In fact both the leaders of the US and China have openly declared and deemed OIL essential to their economic survival and energy security. This poses a real threat when measured in terms of SUPPLY and DEMAND, an issue that so many leaders and elected officials are denying. But as gas prices soar above $5 a gallon, we may just very well hear more about supply and demand from not only the media but from our leaders as well. Unfortunately, our current "leaders" have not demonstrated any real leadership on this issue because everyone just assumes that oil will always be there. But what about cheap oil to support our economy that cannot exist without inexpensive oil? And what about an infrastructure that does not work without cheap oil? When you think about all the things we use petro chemicals for; from makeup and health and beauty products, to polyester, to all things plastic, and so much more, we simply cannot exist in our current society without cheap oil. In a word, our civilization is built on cheap oil. Even most of the airlines now have merged or are discussing a merger due to the exorbitant fuel costs.
Think about this for a moment........."the suburban lifestyle will be impossible to sustain in a world of increasingly expensive oil. As energy becomes more expensive and costly, few people will be able to afford to heat a 5,000 square foot home, or to own a car-let alone drive 10 miles to and from work each day. It will be cost prohibitive to ship goods from China, or even food from out of state, to supply suburban neighborhoods, so the malls and box stores will be empty"............excerpted from the book "The Long Emergency" by James Howard Kunstler
The people who think oil will never run out are those who think money and technology can buy anything. They imagine that the ultimate amount of energy available to us is determined both by economics and technology and if you pay smart people enough money they will figure out anyway to get the oil we need. It's like you give me a couple tooth picks and I will build you a shopping mall. Or they imagine it's just a political crisis like that in the 1970's oil embargo when oil exports from Saudi Arabia were denied the US because of our allegiance to Israel. However, things have changed. We are no longer dealing with a political crisis, but rather an energy crisis. Global oil production is on the decline because the earth's crust contains only so much oil that can be extracted for a reasonable cost, and no amount of money or brain can change that fact. Some people believe the United States has plenty oil here because we are the richest nation in the world, but don't be deceived because US oil production actually started to decline in the 70's. When we first started producing oil from a well in Titusville PA, we should of kept all our oil production but because we were not consuming near as much oil as we do today, we exporting much of our oil and I believe to our peril as we will see. I find it interesting that as soon as we started talking about drilling in Anwar, the environmentalists started besieging the TV with ads on the so-called endangered polar bear.
If anyone wants to understand anything about crude oil, they should first seek to understand what crude oil is, where it comes from, how it is formed and how it is refined. It's actually quite interesting and a fascinating study, and this is why we have geologists who love rocks and sediment, the material that settles to the bottom of a liquid. Where the issue of supply and demand comes in to play is when we factor in the barrel per day and so estimate that global demand will soon reach 200 million barrels per day or 200 million bpd. When you factor in the rate at which the population is growing and the rising global economies such as China and Indonesia, it is mathematical impossible to meet the demand. The demand for oil is not just growing slowing, it is growing exponentially meaning it is doubling in growth from 2 to 4 to 8 to 16 to 32 to 64 and on and on. And since there is only a finite number of economic oil patches in the world, global oil production must eventually decline. Even if production simply flattens, that will be enough to prevent future economic growth. This is a serious issue that is not going away and the demand for oil will not relent. And everyone at least has enough sense ( I would hope) that when people get desperate enough, they will go to war, up to and including nuclear war.
"Energy is essential to wealth. Just as the United States will feel compelled to defend its access to oil, other nations, who feel they have an equal right to enjoy a share of the world's wealth, may fight to secure some of the remaining oil deposits. With nuclear weapons becoming more widespread, the possibility of nuclear war grows greater, and with it the most dramatic, large-scale collapse of civilization the world has ever witnessed. As Albert Einstein observed, "I don't know what kind of weapons will be used in the third world war, assuming there will be a third world war. But I can tell you what the fourth world war will be fought with........stone clubs."..........excerpted from the current book I am reading, "The Coming Economic Collapse....How you can thrive when oil costs $200 a barrel" by Stephen Leeb, PhD.
There is so much to be said on this subject so for now I will blog on this in increments. But no doubt given our current world situation, it is enough to seriously ponder. But as a Christian, it just reminds me of one more day closer I am of seeing my Lord and Savior Jesus Christ fulfilling His promises.
To be continued.......
Since reading is considered a hobby to me, I in no way want to extenuate the topic of this current book.
This book is about oil. And oil is becoming such a problem that I believe people are just now starting to realize how large a problem it is. Oil is the lifeline to our economy as it is to China and Indonesia. Just as blood is essential for our bodies to live, so is oil to our economy. In fact both the leaders of the US and China have openly declared and deemed OIL essential to their economic survival and energy security. This poses a real threat when measured in terms of SUPPLY and DEMAND, an issue that so many leaders and elected officials are denying. But as gas prices soar above $5 a gallon, we may just very well hear more about supply and demand from not only the media but from our leaders as well. Unfortunately, our current "leaders" have not demonstrated any real leadership on this issue because everyone just assumes that oil will always be there. But what about cheap oil to support our economy that cannot exist without inexpensive oil? And what about an infrastructure that does not work without cheap oil? When you think about all the things we use petro chemicals for; from makeup and health and beauty products, to polyester, to all things plastic, and so much more, we simply cannot exist in our current society without cheap oil. In a word, our civilization is built on cheap oil. Even most of the airlines now have merged or are discussing a merger due to the exorbitant fuel costs.
Think about this for a moment........."the suburban lifestyle will be impossible to sustain in a world of increasingly expensive oil. As energy becomes more expensive and costly, few people will be able to afford to heat a 5,000 square foot home, or to own a car-let alone drive 10 miles to and from work each day. It will be cost prohibitive to ship goods from China, or even food from out of state, to supply suburban neighborhoods, so the malls and box stores will be empty"............excerpted from the book "The Long Emergency" by James Howard Kunstler
The people who think oil will never run out are those who think money and technology can buy anything. They imagine that the ultimate amount of energy available to us is determined both by economics and technology and if you pay smart people enough money they will figure out anyway to get the oil we need. It's like you give me a couple tooth picks and I will build you a shopping mall. Or they imagine it's just a political crisis like that in the 1970's oil embargo when oil exports from Saudi Arabia were denied the US because of our allegiance to Israel. However, things have changed. We are no longer dealing with a political crisis, but rather an energy crisis. Global oil production is on the decline because the earth's crust contains only so much oil that can be extracted for a reasonable cost, and no amount of money or brain can change that fact. Some people believe the United States has plenty oil here because we are the richest nation in the world, but don't be deceived because US oil production actually started to decline in the 70's. When we first started producing oil from a well in Titusville PA, we should of kept all our oil production but because we were not consuming near as much oil as we do today, we exporting much of our oil and I believe to our peril as we will see. I find it interesting that as soon as we started talking about drilling in Anwar, the environmentalists started besieging the TV with ads on the so-called endangered polar bear.
If anyone wants to understand anything about crude oil, they should first seek to understand what crude oil is, where it comes from, how it is formed and how it is refined. It's actually quite interesting and a fascinating study, and this is why we have geologists who love rocks and sediment, the material that settles to the bottom of a liquid. Where the issue of supply and demand comes in to play is when we factor in the barrel per day and so estimate that global demand will soon reach 200 million barrels per day or 200 million bpd. When you factor in the rate at which the population is growing and the rising global economies such as China and Indonesia, it is mathematical impossible to meet the demand. The demand for oil is not just growing slowing, it is growing exponentially meaning it is doubling in growth from 2 to 4 to 8 to 16 to 32 to 64 and on and on. And since there is only a finite number of economic oil patches in the world, global oil production must eventually decline. Even if production simply flattens, that will be enough to prevent future economic growth. This is a serious issue that is not going away and the demand for oil will not relent. And everyone at least has enough sense ( I would hope) that when people get desperate enough, they will go to war, up to and including nuclear war.
"Energy is essential to wealth. Just as the United States will feel compelled to defend its access to oil, other nations, who feel they have an equal right to enjoy a share of the world's wealth, may fight to secure some of the remaining oil deposits. With nuclear weapons becoming more widespread, the possibility of nuclear war grows greater, and with it the most dramatic, large-scale collapse of civilization the world has ever witnessed. As Albert Einstein observed, "I don't know what kind of weapons will be used in the third world war, assuming there will be a third world war. But I can tell you what the fourth world war will be fought with........stone clubs."..........excerpted from the current book I am reading, "The Coming Economic Collapse....How you can thrive when oil costs $200 a barrel" by Stephen Leeb, PhD.
There is so much to be said on this subject so for now I will blog on this in increments. But no doubt given our current world situation, it is enough to seriously ponder. But as a Christian, it just reminds me of one more day closer I am of seeing my Lord and Savior Jesus Christ fulfilling His promises.
To be continued.......
Friday, May 16, 2008
Is it appeasement?
So Obama thinks he can negotiate with Hammas and the terrorists? And Bush says that's like negotiating with Hitler. Well all I have to say is that Hitler would have just shot you or had you shot if you showed any resistance. Why do we have so many people that deny the reality of evil or underestimate it's power? For anyone who had to live in Nazi Germany in the late 30's, early 40's, I am sure many of them were scared to death. Even Hitler's SS men and the men in his inner circle didn't trust one another. They were all afraid someone would rat on them or turn on them. All you have to do is study WWII history and the Third Reich and you will easily discover how absolutely evil this system was and particularly Hitler. And you know what? Those radical muslims have been reading and are reading Hitler's "My Struggle" which is all about anti-semitism and a superior white race. That kind of mentality you can't be diplomatic with. It's impossible.
I fear for the future of this country but nevertheless, I trust God who ultimately is in control. Acts 17 says, "And hath made of one blood all nations of men for to dwell on all the face of the earth, and hath determined the times before appointed, and the bounds of their habitation" and Job 14:5 says, "Seeing his days are determined, the number of this months are with thee, thou hast appointed his bounds that he cannot pass". Yes, God IS in control!
I fear for the future of this country but nevertheless, I trust God who ultimately is in control. Acts 17 says, "And hath made of one blood all nations of men for to dwell on all the face of the earth, and hath determined the times before appointed, and the bounds of their habitation" and Job 14:5 says, "Seeing his days are determined, the number of this months are with thee, thou hast appointed his bounds that he cannot pass". Yes, God IS in control!
Wednesday, May 14, 2008
Ecumenical and Vatican Folly
So now the Vatican says it's ok to believe in space aliens..........humm........I told you that joining hands with catholics in an ecumenical movement is like joining the circus........it's preposterous.......just like space aliens. Yeah, that might not be very nice or diplomatic especially in this age of tolerance running rampant in the world. We don't want to cause offense even if man's eternal destiny is on the line.
Just recently John Hagee "recanted" his statements about the Catholic church being called "The Great Whore" as described in Revelation 17. We see that Hagee has capitulated to the pressure from the Media because he has joined hands with Macain and he obviously doesn't want to damage the republican party and hurt Macain. We are always dealing with politics aren't we? Wow, I just know I wouldn't last long as an intern in Washington. They would throw me out quicker than I can blink my eyeballs. But going back to Hagee........he had gone off the deep end awhile ago anyway when he had stated that Jews don't need to be evangelized and I know he sincerely believes that. He is so overly passionate about the Jews that he has lost any lucid judgement......if he even had any in the first place.....regarding their place in the pages of scripture. It's just like in the ECT document where well noted Evangelicals have come along side well known Catholics and have agreed not to proselytize one another for the sake of unity. The only problem is man's souls are lost in the process and clearly the living God is not glorified. God specifically states that His WORD does not return void but prospers in the thing which He sent it. Even the apostle Paul stated very clearly in 1 Corinthians chapter 2 starting in verse 1: "And I, brethren, when I came to you, came not with excellency of speech or of wisdom, declaring unto you the testimony of God. For I determined not to know any thing among you, save Jesus Christ, and Him crucified. And I was with you in weakness, and in fear, and in much trembling. And my speech and my preaching was not with enticing words of man's wisdom, but in demonstration of the Spirit and of power: that your faith should NOT stand in the wisdom of men, But in the power of God." The cities of the empire back in Paul's day as we know, were filled with itinerant teachers who attacked disciples by impressive oratory and philosophical argument. Paul determined not to rely on either to win hearers to Christ. Realizing his frailty, he simply proclaimed a crucified Saviour and left it up to the Spirit to win converts. And what a freeing thing this is.......our effectiveness in sharing the Gospel with others does not depend on our skills, training, or knowledge. The Spirit works powerfully through the message itself. We can share despite our frailities, for our confidence is in the power of God.
I just read recently in the Pittsburg Post-Gazette paper that a ministry called CityReachers Pittsburgh is trying to distribute Pittsburg-themed New Testaments to Allengheny County residents. If all goes according to plan on September 7th, Allengheny county suscribers will unwrap their Sunday paper and find a New Testament in an advertising pouch like those used for sampling soaps or cereals. Unfortunately it will be in the New International Version, a deficient translation in my opinion, and on the front cover will be showing a golden triangle and the back cover will be a photograph of Steelers kneeling in prayer and will also include testimonials of well known Pittsburghers. Their goal is to reach 250,000 subscribers in Allegheny County. Interestingly, Mrs. Smith of the CityReachers Pittsburgh knows that many people already own bibles but that they are often unread because they look old, dark and forbidding. She states that the "Our City, God's Word" New Testament is designed to intrigue people enough to open it and read. So in a man-made effort to reach people they are adding fancy pictures and creative design and wording to intice people. Let me ask a question, does God have to do that? Would God honestly do that? We already know that God's Word is powerful enough that nothing more is needed to add to it and frankly adding to it warrants serious consequences as stated in Revelation. So why do so many ministries feel this compulsion as in the Emergent Church to become more culturally relevant? Why isn't the plain, simple, yet powerful Words of God enough? Why can't we just preach the Word in season and out? Apparently Pittsburgh will be the 6th city for CityReachers, a program of the International Bible Society based in Colorado Springs.
Now none of this comes as a surprise to me because orginally this was intiated by Protestants, yet however, the Catholic archdiocese "joined" in the effort in both Philadelphia and Pittsburgh. Due to a high Catholic demographic in Pittsburgh organizers considered Catholic participation "crucial" and approached Bishop Zubik even before his formal installation in September. It reminds me of the scripture........."be ye not unequally yoked together with unbelievers: for what fellowship hath righteousness with unrighteousness? and what communion hath light with darkness? And what agreement hath the temple of God with idols?" Would a Believer in Christ Jesus knowing what His Truth says in His Word, marry a unbeliever and consummate their marriage in the marriage bed? I would think not......the same goes for unholy alliances.
Concerning the cover of this New Testament bible, Mr. Rader consulted extensively with local organizations to determine "what would make the book most interesting". What a shame that we have to resort to that kind of manipulation. Even though I know in good faith that these people leading this ministry have noble intentions they just can't rely on God's power alone and instead are using clever design and eye-catching visuals to reach people. Innovative? Yes but will it work? Well, I guess we will just have to leave that in God's hands to work through our futile and sinful attempts to reach the lost. The Rev. James Wehner, who is in charge of Catholic participation in the project, said, "In my opinion, people are thirsting for the truth and are looking for meaning in life". Are they really, I don't think so.....that's not what the Bible says. The Bible resonates over and over throughout the pages that man is never looking for the Truth. In fact the Bible condemns man and all his doings. It never euolgizes his wisdom nor praises his achievements. On the contrary, it declares that "every man at his best state is altogether vanity" Ps. 39:5. Romans 3:11 and 12 can easily refute Rev. Wehner assersion........."There is NONE that seeketh after God. They are all gone out of the way, they are together become unprofitable; there is none that doeth good, no, not one".
Just recently John Hagee "recanted" his statements about the Catholic church being called "The Great Whore" as described in Revelation 17. We see that Hagee has capitulated to the pressure from the Media because he has joined hands with Macain and he obviously doesn't want to damage the republican party and hurt Macain. We are always dealing with politics aren't we? Wow, I just know I wouldn't last long as an intern in Washington. They would throw me out quicker than I can blink my eyeballs. But going back to Hagee........he had gone off the deep end awhile ago anyway when he had stated that Jews don't need to be evangelized and I know he sincerely believes that. He is so overly passionate about the Jews that he has lost any lucid judgement......if he even had any in the first place.....regarding their place in the pages of scripture. It's just like in the ECT document where well noted Evangelicals have come along side well known Catholics and have agreed not to proselytize one another for the sake of unity. The only problem is man's souls are lost in the process and clearly the living God is not glorified. God specifically states that His WORD does not return void but prospers in the thing which He sent it. Even the apostle Paul stated very clearly in 1 Corinthians chapter 2 starting in verse 1: "And I, brethren, when I came to you, came not with excellency of speech or of wisdom, declaring unto you the testimony of God. For I determined not to know any thing among you, save Jesus Christ, and Him crucified. And I was with you in weakness, and in fear, and in much trembling. And my speech and my preaching was not with enticing words of man's wisdom, but in demonstration of the Spirit and of power: that your faith should NOT stand in the wisdom of men, But in the power of God." The cities of the empire back in Paul's day as we know, were filled with itinerant teachers who attacked disciples by impressive oratory and philosophical argument. Paul determined not to rely on either to win hearers to Christ. Realizing his frailty, he simply proclaimed a crucified Saviour and left it up to the Spirit to win converts. And what a freeing thing this is.......our effectiveness in sharing the Gospel with others does not depend on our skills, training, or knowledge. The Spirit works powerfully through the message itself. We can share despite our frailities, for our confidence is in the power of God.
I just read recently in the Pittsburg Post-Gazette paper that a ministry called CityReachers Pittsburgh is trying to distribute Pittsburg-themed New Testaments to Allengheny County residents. If all goes according to plan on September 7th, Allengheny county suscribers will unwrap their Sunday paper and find a New Testament in an advertising pouch like those used for sampling soaps or cereals. Unfortunately it will be in the New International Version, a deficient translation in my opinion, and on the front cover will be showing a golden triangle and the back cover will be a photograph of Steelers kneeling in prayer and will also include testimonials of well known Pittsburghers. Their goal is to reach 250,000 subscribers in Allegheny County. Interestingly, Mrs. Smith of the CityReachers Pittsburgh knows that many people already own bibles but that they are often unread because they look old, dark and forbidding. She states that the "Our City, God's Word" New Testament is designed to intrigue people enough to open it and read. So in a man-made effort to reach people they are adding fancy pictures and creative design and wording to intice people. Let me ask a question, does God have to do that? Would God honestly do that? We already know that God's Word is powerful enough that nothing more is needed to add to it and frankly adding to it warrants serious consequences as stated in Revelation. So why do so many ministries feel this compulsion as in the Emergent Church to become more culturally relevant? Why isn't the plain, simple, yet powerful Words of God enough? Why can't we just preach the Word in season and out? Apparently Pittsburgh will be the 6th city for CityReachers, a program of the International Bible Society based in Colorado Springs.
Now none of this comes as a surprise to me because orginally this was intiated by Protestants, yet however, the Catholic archdiocese "joined" in the effort in both Philadelphia and Pittsburgh. Due to a high Catholic demographic in Pittsburgh organizers considered Catholic participation "crucial" and approached Bishop Zubik even before his formal installation in September. It reminds me of the scripture........."be ye not unequally yoked together with unbelievers: for what fellowship hath righteousness with unrighteousness? and what communion hath light with darkness? And what agreement hath the temple of God with idols?" Would a Believer in Christ Jesus knowing what His Truth says in His Word, marry a unbeliever and consummate their marriage in the marriage bed? I would think not......the same goes for unholy alliances.
Concerning the cover of this New Testament bible, Mr. Rader consulted extensively with local organizations to determine "what would make the book most interesting". What a shame that we have to resort to that kind of manipulation. Even though I know in good faith that these people leading this ministry have noble intentions they just can't rely on God's power alone and instead are using clever design and eye-catching visuals to reach people. Innovative? Yes but will it work? Well, I guess we will just have to leave that in God's hands to work through our futile and sinful attempts to reach the lost. The Rev. James Wehner, who is in charge of Catholic participation in the project, said, "In my opinion, people are thirsting for the truth and are looking for meaning in life". Are they really, I don't think so.....that's not what the Bible says. The Bible resonates over and over throughout the pages that man is never looking for the Truth. In fact the Bible condemns man and all his doings. It never euolgizes his wisdom nor praises his achievements. On the contrary, it declares that "every man at his best state is altogether vanity" Ps. 39:5. Romans 3:11 and 12 can easily refute Rev. Wehner assersion........."There is NONE that seeketh after God. They are all gone out of the way, they are together become unprofitable; there is none that doeth good, no, not one".
Monday, April 14, 2008
Inside trading @ Wall Street.........
Remember back in the days when insider selling was illegal? Well not anymore. Today we see big corporate hot shots selling off large amounts of stock just before the bad news hits Wall Street and somehow, they are getting away with it. Is there any accountability anymore? What happened to regulation and/or regulatory control? Isn't Congress supposed to enforce laws to regulate such behavior? How come it seems Congress just isn't working anymore? Or perhaps they are just capitulating to the pressure of these big corporations.
Inside trading is a felony under federal law, yet the privileged and well-positioned take advantage of secret information to profit at the expense of ordinary investors. Billions of inside trading is going by corporated executives and they are getting away with it. Why is this? Perhaps it is because these corporate executives are in a perfect postion to use secret information to trade in their company's stock. In the 20's, Congress prohibited fraud by corporated executives, but what about now? Well now we have the SEC and corporate executives got them to issue a new rule. This rule allows executives with stock options to exercise the option, immediately sell the stock and keep the profit. The SEC rule created the "stock option flip-trade." Executives can now bail out at the first smell of bad news inside the company. They could exercise options, instantly sell the stock and pocket the profits, without putting up a penny or taking any market risk. The abuse is obvious. Corporate executives, with the benefit of sophisticated management information systems that provide instantaneous undates on internal trends, know precisely when to trade. So as soon they see performance short-falls are coming, they can flip trade, put stock sale plans in place or increase the shares they are selling. Several Enron fraudsters, including Mr. Lay and Mr. Skilling used this "safe harbor" to sell off huge chunks of their Enron stock-option stock, pocketing hundreds of millions of dollars. Despite Congress' stringent prohibitions against quick-flip stock trades or stock sales based on secret information, both have become the order of the day.
Recently, SEC Enforcement Director, Linda Thomsen, admitted to "seeing deliberate, calculated misconduct", "rampant" insider trading. She also voiced suspicion that executive stock sale plans were being abused. The financial world is littered with abuses. Such suspicions include Yahoo when it encountered long delays in launching its new internet ad placement technology. When the delay was finally revealed, Yahoo's stock collapsed from $44 to $22, inflicting $25 billion in loses on Yahoo's shareholders. While the top executives at Yahoo were struggling with these undisclosed problems, they unloaded 33 million shares of their Yahoo stock for more than a billion dollars. The CEO and CFO each sold 80 to 90% of their shares.
Dell comuter disclosed serious product quality and customer service problems and restated years of prior financial reports to eliminate millions in profits. Dell stock fell from $42 to $19, inflicting $30 billion in losses on shareholders. Yet before this came out, Dell executives unloaded 98 million shares of stock for $3.3 billion. Dell's CEO and CFO, both ousted due to the scandal, sold 98% of their stock. Eight other executives sold more than 90 % of theirs. Most were "quick flip" stock option sales.
Remember Countrywide that was plastered all over the news with the subprime mess? Well, when it's lax lending practices and dubious accounting became public, its stock collapsed from $45 to $20, costing shareholders $13 billion. Yet Countrywide's insiders had unloaded 21 million shares for $765 million before the bad news. More quick-flip stock option sales. The CEO, Angelo Mozilo sold millions of shares pocketing $232 million while he monkeyed with his stock-sale plan to increase his sales before the stock collapsed.
At Forest Laboratories, a drug manafacturer, the CEO sold off 3.8 million shares, all stock-option shares, for $221 milllion before studies linking its main drug to increased adolescent suicide came out. Then the stock collapsed from $78 to $36, costing shareholders $15 billion.
At home builder Toll Brothers, top insiders unloaded 14 million shares for $612 million, before revealing slowing demand and a decline in orders that caused that stock to plummet from $56 to $33, costing shareholders $3.5 billion.
And finally there is AOL TIme Warner, where the corporate insiders sold more than 22 million shares for more than $750 million, as they put together and watched fall apart, the worst merger of the century causing hugh losses and a stock drop from $59 to $9, inflicting $150 billion in losses on shareholders.
If someone robs a convenience store, his crime may earn his 10 years in prision, yet corporate insiders regularly use secret information to profit by millions and millions with impunity, even though insider trading is a felony and their misconduct harms hundreds of thousands of investors, including pension funds charged with investing the life savings of millions of Americans. The punishment doesn't fit the crime because there is no punishment. The SEC's mandate is to protect investors and police fraud in our securities market. So why is this happening and what is the SEC doing about it? Despite the SEC Enforcement DIrector's complaints about insider selling, the SEC is doing little about the current epidemic.
In each of the above examples of insider bailouts, institutional investors brought securities class-action suits. But they all suffer from problems due to the SEC's protective insider-trading rules. As a result, corporate insiders virtually never pay up any of their insider trading proceeds when such suits are settled. This kind of stock profiteering by corporate insiders UNDERMINES investor confidence in the markets and the federal agency that is supposed to protect them. If investors lose confidence, they invest less and economic growth and prosperity are impaired. Rather than engage in empty rhetoric about insider trading, the SEC should step up its enforcement efforts and police the markets like Congress intended it to.
Remember the movie "Wall Street" with Michael Douglas and Charlie Sheen? Michael Douglas played the character Gordon Gekko and in the movie Mr. Gekko said, "Greed is good". Well, no it is not!!!!!! When greed is unrestrained, it's yields terrible and disasterous results.
Inside trading is a felony under federal law, yet the privileged and well-positioned take advantage of secret information to profit at the expense of ordinary investors. Billions of inside trading is going by corporated executives and they are getting away with it. Why is this? Perhaps it is because these corporate executives are in a perfect postion to use secret information to trade in their company's stock. In the 20's, Congress prohibited fraud by corporated executives, but what about now? Well now we have the SEC and corporate executives got them to issue a new rule. This rule allows executives with stock options to exercise the option, immediately sell the stock and keep the profit. The SEC rule created the "stock option flip-trade." Executives can now bail out at the first smell of bad news inside the company. They could exercise options, instantly sell the stock and pocket the profits, without putting up a penny or taking any market risk. The abuse is obvious. Corporate executives, with the benefit of sophisticated management information systems that provide instantaneous undates on internal trends, know precisely when to trade. So as soon they see performance short-falls are coming, they can flip trade, put stock sale plans in place or increase the shares they are selling. Several Enron fraudsters, including Mr. Lay and Mr. Skilling used this "safe harbor" to sell off huge chunks of their Enron stock-option stock, pocketing hundreds of millions of dollars. Despite Congress' stringent prohibitions against quick-flip stock trades or stock sales based on secret information, both have become the order of the day.
Recently, SEC Enforcement Director, Linda Thomsen, admitted to "seeing deliberate, calculated misconduct", "rampant" insider trading. She also voiced suspicion that executive stock sale plans were being abused. The financial world is littered with abuses. Such suspicions include Yahoo when it encountered long delays in launching its new internet ad placement technology. When the delay was finally revealed, Yahoo's stock collapsed from $44 to $22, inflicting $25 billion in loses on Yahoo's shareholders. While the top executives at Yahoo were struggling with these undisclosed problems, they unloaded 33 million shares of their Yahoo stock for more than a billion dollars. The CEO and CFO each sold 80 to 90% of their shares.
Dell comuter disclosed serious product quality and customer service problems and restated years of prior financial reports to eliminate millions in profits. Dell stock fell from $42 to $19, inflicting $30 billion in losses on shareholders. Yet before this came out, Dell executives unloaded 98 million shares of stock for $3.3 billion. Dell's CEO and CFO, both ousted due to the scandal, sold 98% of their stock. Eight other executives sold more than 90 % of theirs. Most were "quick flip" stock option sales.
Remember Countrywide that was plastered all over the news with the subprime mess? Well, when it's lax lending practices and dubious accounting became public, its stock collapsed from $45 to $20, costing shareholders $13 billion. Yet Countrywide's insiders had unloaded 21 million shares for $765 million before the bad news. More quick-flip stock option sales. The CEO, Angelo Mozilo sold millions of shares pocketing $232 million while he monkeyed with his stock-sale plan to increase his sales before the stock collapsed.
At Forest Laboratories, a drug manafacturer, the CEO sold off 3.8 million shares, all stock-option shares, for $221 milllion before studies linking its main drug to increased adolescent suicide came out. Then the stock collapsed from $78 to $36, costing shareholders $15 billion.
At home builder Toll Brothers, top insiders unloaded 14 million shares for $612 million, before revealing slowing demand and a decline in orders that caused that stock to plummet from $56 to $33, costing shareholders $3.5 billion.
And finally there is AOL TIme Warner, where the corporate insiders sold more than 22 million shares for more than $750 million, as they put together and watched fall apart, the worst merger of the century causing hugh losses and a stock drop from $59 to $9, inflicting $150 billion in losses on shareholders.
If someone robs a convenience store, his crime may earn his 10 years in prision, yet corporate insiders regularly use secret information to profit by millions and millions with impunity, even though insider trading is a felony and their misconduct harms hundreds of thousands of investors, including pension funds charged with investing the life savings of millions of Americans. The punishment doesn't fit the crime because there is no punishment. The SEC's mandate is to protect investors and police fraud in our securities market. So why is this happening and what is the SEC doing about it? Despite the SEC Enforcement DIrector's complaints about insider selling, the SEC is doing little about the current epidemic.
In each of the above examples of insider bailouts, institutional investors brought securities class-action suits. But they all suffer from problems due to the SEC's protective insider-trading rules. As a result, corporate insiders virtually never pay up any of their insider trading proceeds when such suits are settled. This kind of stock profiteering by corporate insiders UNDERMINES investor confidence in the markets and the federal agency that is supposed to protect them. If investors lose confidence, they invest less and economic growth and prosperity are impaired. Rather than engage in empty rhetoric about insider trading, the SEC should step up its enforcement efforts and police the markets like Congress intended it to.
Remember the movie "Wall Street" with Michael Douglas and Charlie Sheen? Michael Douglas played the character Gordon Gekko and in the movie Mr. Gekko said, "Greed is good". Well, no it is not!!!!!! When greed is unrestrained, it's yields terrible and disasterous results.
Monday, March 24, 2008
Outsourcing American Jobs via the tax code
How does a tax code encourage outsourcing American jobs? Very simple......a tax break for companies that ship American jobs overseas. The problem lies in profits that are earned in the United States are subject to a 35% corporate tax. Profits earned overseas by multinational corporations can defer paying U.S. taxes until they return them to the U.S. and these transfers usually don't happen for several years. Tax codes outside the U.S. are extremely low, particularly in Ireland and this is why we see multinational corporations. This is what encourages companies, who want to expand because they are growing, to move to a "tax haven" and the creation of say, 100 jobs, will be filled by those who are not American. The U.S. has one of the highest corportate tax rates in the world. But despite the high tax rate, the U.S. takes in less annual revenue from corporate taxes, measured as a percentage of economic output, than almost all other major economies. And part of this explanation for that shortfall is the allowance for corporations to postpone taxes on foreign income. Economist Jason Furman put it this way, "The problem is the company gets to deduct the cost of doing business right away, but they don't have to pay tax on the profits until they bring them back".
This deferral clause has been in the tax code for over a half century and any attempts to reform it have been thwarted. Even President Kennedy asked Congress to rewrite tax provisions that consistently favor United States private investment abroad compared with investment in our own country. Corporate foreign earnings are growing in such large volumes that to match that with low corporate tax and low wages, you will have the perfect receipe for outsourcing.
The Democrates say that the United States, in an effort to embrace globalization, has overlooked the costs to working Americans. Frankly, no one cares about the average little American who is just trying to make it in this world. Just look at the subprime mess and all those greedy bankers. Clearly the rich keep getting richer and the poor keep getting poorer. Why is it that we see this country continually sold out to globalization? It's because our "elected officials" need to go back and study American History 101 and embrace what created the birth of this nation to begin with. Too much on the agenda in the minds of our elected officials is globalization and in their efforts to embrace it, they are flushing this country down the toilet.
This deferral clause has been in the tax code for over a half century and any attempts to reform it have been thwarted. Even President Kennedy asked Congress to rewrite tax provisions that consistently favor United States private investment abroad compared with investment in our own country. Corporate foreign earnings are growing in such large volumes that to match that with low corporate tax and low wages, you will have the perfect receipe for outsourcing.
The Democrates say that the United States, in an effort to embrace globalization, has overlooked the costs to working Americans. Frankly, no one cares about the average little American who is just trying to make it in this world. Just look at the subprime mess and all those greedy bankers. Clearly the rich keep getting richer and the poor keep getting poorer. Why is it that we see this country continually sold out to globalization? It's because our "elected officials" need to go back and study American History 101 and embrace what created the birth of this nation to begin with. Too much on the agenda in the minds of our elected officials is globalization and in their efforts to embrace it, they are flushing this country down the toilet.
Friday, March 21, 2008
The Bi-Polar Mania of Wall Street
I wonder if I can go to the Fed discount window and get an overnight loan for $1 million dollars @ 2.25% because I have "liquidity issues"? Well maybe not...........I guess I'll just rough it for now! So what's the deal with this schzophrenia we see in the financial stocks and the commodities market? People just can't make up their minds which is the safest bet. With the fear of a global slow down, investors are speculating that the slower economic growth will curb demand for energy, metals and grains. Now everyone is pulling out of commodities. Ok, so were commodities a bubble, like housing that will and is bursting? Well we shall see IF prices go down and that includes gasoline that we fuel our cars with. I will believe it when and only when I see it!
Interestingly, the stock market hasn't seen such wild price swings since 1938, about 70 years ago. Makes you wonder really how secure the whole "system" is. The volitility is exploding like a giant volcano. Perhaps a volcanologist can tell us when it will crash and burn. Perhaps this all a psychological mess like bi-polar mania that is just medicated with an anti-depressant? Or are these signs of a much deeper, systemic problem that will only get worse? Really the only way to assess investments would be to look at the issues from economic indicator analyses to determine where different investments had been and the likely direction to move in the future. But true it is, if this country continues to go deeper into debt, there is no doubt in my mind that it will fail. Refusing to deal with our national debt will bring likely failure to our economy and our options are running out as time goes on.
Interestingly, the stock market hasn't seen such wild price swings since 1938, about 70 years ago. Makes you wonder really how secure the whole "system" is. The volitility is exploding like a giant volcano. Perhaps a volcanologist can tell us when it will crash and burn. Perhaps this all a psychological mess like bi-polar mania that is just medicated with an anti-depressant? Or are these signs of a much deeper, systemic problem that will only get worse? Really the only way to assess investments would be to look at the issues from economic indicator analyses to determine where different investments had been and the likely direction to move in the future. But true it is, if this country continues to go deeper into debt, there is no doubt in my mind that it will fail. Refusing to deal with our national debt will bring likely failure to our economy and our options are running out as time goes on.
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