Say “No” To Taxpayer Bailouts
Posted by Michelle Moquin on July 22nd, 2011
Good morning!
Here’s a nice follow-up to yesterday’s blog.
NO
MORE
TAXPAYER
BAILOUTS
This morning, a group of public servants showed up to work at a brand-new agency created to protect everyday Americans from the abuses of Wall Street.
They’re the folks of the Consumer Financial Protection Bureau, and they’ll be the cops on the beat protecting consumers from predatory credit card and mortgage lenders, bait-and-switch creditors, and anyone trying to make a quick buck by deceiving or manipulating Americans who are just trying to secure their financial future.
Many Americans don’t know it, but this bureau is just one part of a sweeping Wall Street reform law — the most pro-consumer and pro-taxpayer reform of our financial system since the Great Depression — that President Obama signed a year ago today.
Whether you watch the video or not, please share this email with someone.
It’s important that everyone knows what this law means for all of us. Simpler mortgages. Clearer credit card rates, fees, and rules. Fairer loan terms. It’s based on the simple idea that if you make sure that people get clear information, they’ll make the financial decisions that work best for them.
And we can all rest a little easier knowing that our common financial future is more protected from the irresponsibility of a few. This law made structural reforms to ensure that the financial crisis we experienced in 2008 never happens again and that taxpayers aren’t on the hook to pay for Wall Street’s risky bets.
It’s up to you to make sure more people know about this. Most Americans don’t have all the details on how this law is working for them, and it’s our job to change that.
Amazingly, each and every Presidential candidate on the other side opposes this law.
And the same opposition that tried to block it more than a year ago is still alive and well.
Right now, lobbyists are at work trying to weaken the tough regulations this law imposes.
That’s no accident — its provisions are designed to rein in the Wall Street, credit card, and mortgage banking interests these people represent.
As we know, there aren’t a whole lot of high-powered lobbyists in Washington looking out for the common good of everyday families.
That’s exactly why this law is necessary, and why our growing organization in all 50 states is so important. It’s up to us to make sure our friends and neighbors know about it.
Watch our video about Wall Street reform today — and then pass it on:
Readers: Another feather in Obama’s cap. Why would anyone want to spend hundreds of million of dollars to roll back this law? Oh yeah, the greedy people who care more about money, and care less about our country. Can you imagine what our country would be like if Obama wasn’t the president? I don’t want to imagine and I don’t want that to be a reality for 2012. Are you with me?
PS: In case you may have noticed that I am keeping my comments to a minimum, the reason is because my MAC is still getting repaired. I am working on a borrowed baby MAC. And let me tell you…size does matter. I never thought I would say that 12″ is not enough.
Anna of Guam: I just have to make one comment to you before I sign off. That story you posted in just horrific. When I read the description of how small the 14 month old child was at death, I was stunned. That is cruelty at its worst.
Peace out.
Lastly, greed over a great story is surfacing from my “loyal”(?) readers. With all this back and forth about who owns what, that appears on my blog, let me reiterate that all material posted on my blog becomes the sole property of my blog. If you want to reserve any proprietary rights don’t post it to my blog. I will prominently display this caveat on my blog from now on to remind those who may have forgotten this notice.
Gratefully your blog host,
michelle
Aka BABE: We all know what this means by now :)
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July 22nd, 2011 at 8:38 am
HI Mischa, I’m laughing over here bc I made the mistake of buying a 12″ thinking the size wouldn’t matter, it does, so I alternate between my 17″ pc which is showing all signs of crashing again and this ‘baby refurb mac’ – sigh…want the BIG one!
I second the comment to Ana, made ill, people like that should just be treated the same way they treat their babies. And men should have to live life for a week as a woman, too.
Luv, Zen Lill
PS how much intimacy/passion is too much? click through and find out ; )
July 22nd, 2011 at 9:49 am
Social Butterfly:
I couldn’t have said it better. My husband and I gave birth to a beautiful baby who is gay. His father has disowned the son he loved for 23 years.
When Mark declared his hidden secret his father cried as if it were he who had had to suffer years of secret anguish because of the fear of rejection.
Men can be the most selfish, self-centered bastards on the planet. I held my son in my arms and told him he would always be welcomed in our home.
Michelle your blog gave me the courage to defy my husband. I am now a Girlz in my heart. After 31 years of marriage, 9 in marriage counseling, it took just 1 month of reading your blog for me to get my head screwed on right.
One morning after reading your blog. I said, “Fuck this bastard, I’m taking his shit no more!”
I boiled a pot of water and I carried it into the bedroom where he was sleeping. I let a drop fall on his foot. He awoke instantly.
I held the steaming pot and looked directly into those cruel and startled eyes. I told him that if he ever hit me again, he would wake up one morning with a scalding face and I would continue to throw scalding water on him until the authorities arrived to stop me.
He got up, put on his clothes, called me names under his breath. But this time he did not raise a hand to hit me. Then he left. It was 3:15 AM that morning. When he returned at 6:30 AM, he dressed for work and left.
When we both returned home from our respective jobs, he didn’t mention the incident. We haven’t spoken of it since. That was 2 years ago. But he has never hit me again or threaten to do so since.
We are Girlz! We are fierce!! We fear NOTHING!!!
Margret
PS: I found this Social Butterfly – Reject Bachmann’s support of “reparative therapy”!
Michele Bachmann and her husband, Marcus, hold some of the most extreme and disturbing anti-LGBT views of any presidential candidate and spouse – and Marcus has admitted to using “reparative therapy” in his Minnesota clinic.
We can’t let these dangerous actions go unchallenged. We’re calling on all of the Republican presidential candidates to speak out against the Bachmanns’ alarming views and activities before more damage is done.
======================
My republican husband can no longer count on this woman to be one. I attend no more of his bigoted fund raisers for that hypocritical party.
Margret
July 22nd, 2011 at 10:10 am
Canned Vegetables Can Be As Nutritious As Their Fresh Counterparts
Christine Bruhn, PhD
Vegetables are canned upon harvest, when nutrients are at their peak, so some canned varieties may have even more nutrients.
Best: To get a mix of essential nutrients, choose canned, fresh and frozen vegetables. Opt for low-sodium versions, or rinse canned produce to reduce sodium.
Women’s Health interviewed Christine Bruhn, PhD, specialist in the cooperative extension, food science and technology, University of California, Davis, and leader of a study of canned vegetables, published in Journal of the Science of Food and Agriculture.
July 22nd, 2011 at 10:44 am
Mike, whatever your source it seems you are right again about the investigations Murdoch will have to deal with.
I read an article that said that the US Justice Department is launching two separate criminal misconduct investigations against News Corp.
One is an FBI investigation into bribing police officers to obtain the phone records of the 9/11 victims and then the subsequent hacking into their phones.
The second is the investigation into whether News Corp which is a US company is guilty of violating the Foreign Corrupt Practices act, which bars US companies from making payments to foreign government officials to assist in obtaining or retaining business.
In as much as Murdoch has been doing those things and a myriad of other illegal activities for at least a decade and getting away with it, I can believe that a powerful individual has set his sights upon going after him.
Doug, the Main Dude may see it otherwise, but I ask if it all just a coincidence, what an unfortunate one for a man who has been bribing governments and civilian employees on all levels of those governments for decades to have this just happen to him.
To me this is a purposeful driven attempt to go after this criminal. I applaud the efforts of whomever is behind this man getting his just do.
As for Anonz, I don’t think any of the super wealthy are going to think anyone but this guy is behind it.
Wilbur
July 22nd, 2011 at 10:52 am
House Republicans, joined by 5 Democrats, passed Cut, Cap, and Balance (CCB) only to see the Senate, on a party line vote, table it 51-46 earlier today.
In other words, the House passed the Ryan Plan and CCB. The Senate has passed no plans, and rejected Barack Obama’s budget 97-0. Republicans have a plan. And that plan is to prevent the government from solving the financial problem or the employment problem.
The House Republicans do not now need to negotiate. They do not now need a deal. They’ve done what was asked of them. That is to stagnate the country into steep unemployment and keep the banks from be regulated.
Mike
July 22nd, 2011 at 11:05 am
There are conflicting opinions about hydrogen peroxide therapy. Some consider it to be one of the greatest healing miracles of all time.
Others consider it an extremely dangerous therapy that only the foolhardy would think of using. I’ll discuss this controversy more and tell you how I feel about it, but first let’s take a closer look.
Hydrogen peroxide 101
What is hydrogen peroxide? This odorless, colorless substance should really be called hydrogen dioxide. Its chemical formula is H2O2. It contains one more atom of oxygen than does water (H2O).
When stored properly, in the absence of light and contaminants it breaks down very slowly at the rate of about 10 percent a year. (This can be slowed even further by storing the liquid in the freezer.) It boils at 152 degrees Celsius and freezes at -2 degrees Celsius.
To give you some background, the protective ozone layer that surrounds the earth consists of three atoms of oxygen (O3).
It is created when ultraviolet light from the sun splits a stable atmospheric oxygen molecule (O2) into two single, unstable oxygen atoms.
These single molecules combine with others to form ozone (O3). Ozone isn’t very stable, and it will quickly give up its extra atom of oxygen to falling rainwater to form hydrogen peroxide (H2O2).
If it is exposed to other compounds, however, hydrogen peroxide dismutates readily. The extra oxygen atom is released, leaving H2O (water).
The single atom of oxygen left is very reactive and is referred to as a free radical. We know that free radicals are responsible for all types of ailments and even premature aging.
We need to remember, however, that our bodies create and use free radicals to destroy harmful bacteria, viruses, and fungi.
In fact, the cells in the body that fight infection and foreign invaders (white blood cells) make hydrogen peroxide and use it to oxidize offending culprits.
(The intense bubbling you see when hydrogen peroxide comes in contact with a bacteria-laden cut or wound is the oxygen being released and bacteria being destroyed.)
Newer research indicates that hydrogen peroxide is necessary for a multitude of other chemical reactions that take place throughout the body.
Lactobacilli in the colon and vagina produce hydrogen peroxide. This destroys harmful bacteria and viruses, preventing colon disease, vaginitis, bladder infections, and a host of other common ailments.
The friendly bacteria in the colon and vagina are aerobic. In other words, they flourish in an environment of oxygen-rich H2O2.
On the other hand, most strains of harmful bacteria (and cancer cells) are anaerobic and cannot survive in the presence of oxygen or H2O2.
A controversial solution
There are a few reported dangers and side effects from using hydrogen peroxide, but they are often conflicting.
No one doubts its effectiveness when it comes to treating infections topically, but there is controversy over oral ingestion or intravenous introduction of hydrogen peroxide.
I believe that hydrogen peroxide is safe, no matter the method—if the proper dilution is used and it is used and handled properly.
For one thing, intravenous infusion can cleanse the inner lining of the lungs and restore the ability to breathe.
Essentially, within minutes of the IV, oxygen from hydrogen peroxide begins to bubble up between the membrane lining, the lung sacs, and the accumulated mucus.
A patient begins to cough and expel the material that has accumulated in the lungs.
The amount of bubbling, coughing, and cleansing can be regulated by simply turning the H2O2 on and off.
As the peroxide clears the lung surface and destroys bacterial infections, the patient regains the ability to breathe more normally.
I have heard of patients whose breathing improved so much that a wheelchair and supplemental oxygen were no longer needed.
CAUTION! Do not attempt intravenous infusion of H2O2 on your own. It must be performed by a licensed, trained health-care professional.
Making the grade
Before you buy hydrogen peroxide for therapeutic purposes it’s important to know that any H2O2 concentrations over 10 percent can cause neurological reactions and damage to the upper gastrointestinal tract.
There are various strengths and grades of hydrogen peroxide. Most are not relevant for daily living, so I am going to talk about just two: 3-percent and 35-percent H2O2.
Three-percent pharmaceutical grade H2O2is sold at pharmacies and supermarkets. DO NOT use 3-percent hydrogen peroxide internally.
It contains stabilizers that should not be ingested. These include phenol, sodium stanate, and tetrasodium phosphate.
To get the proper dilution pour one ounce of 35-percent H2O2 into a pint jar and add 11 ounces of distilled water.
One of the most convenient, and safest, ways to dispense 35-percent H2O2 is with a small glass eye dropper bottle that can be purchased at a pharmacy.
Fill it with the 35-percent H2O2, and store the larger container in the freezer compartment of your refrigerator until you need more.
Also store the eye dropper bottle in the refrigerator.
Three percent H2O2 has a variety of medicinal uses
This solution can be used full strength as a mouthwash, mixed with baking soda for toothpaste, or used full strength as a foot bath for athlete’s foot.
Diabetics have found relief from circulation problems by soaking their feet in one pint of solution mixed with one gallon of warm, non-chlorinated water for 30 minutes nightly.
Three tablespoons of solution mixed with a quart of non-chlorinated water makes a good enema or douche formula.
One tablespoon of solution added to one cup of non-chlorinated water can be used as a nasal spray.
Depending on the degree of sinus involvement, the amount of peroxide used should be adjusted.
Using twelve ounces of 3-percent solution per gallon of non-chlorinated water in a vaporizer improves nighttime breathing tremendously.
To prevent problems, always dilute hydrogen peroxide properly before using.
Also, handle carefully since direct contact will burn the skin. If it does get on your skin, flush with water immediately.
You also want to store it safely and properly. After diluting, the remainder should be stored tightly sealed in the freezer.
It is important to take hydrogen peroxide on an empty stomach. If there is food in your stomach, the reaction of the H2O2 on any bacteria present may cause excess foaming, indigestion, and possibly vomiting.
It is preferable to take it either one hour before or three hours after meals.
CAUTION: Again, never use 35-percent H2O2 at full strength. If it is not diluted properly, it can be extremely dangerous—or even fatal.
It’s also important to know the side effects. Some individuals taking H2O2 immediately before they retire for the night have a difficult time getting to sleep.
This is probably due to a sense of alertness triggered by an increase of oxygen at the cellular level.
It is possible to experience an upset stomach. If this occurs, it can be helpful to take three or four lecithin capsules at the same time the H2O2is taken.
The bleach-like aftertaste of H2O2 can be lessened by chewing sugar-free cinnamon gum.
*****
Most of us started on hydrogen peroxide shortly after birth. Not only does mother’s milk contain high amounts of H2O2, the amount contained in the first milk (colostrum) is even higher.
This seems only reasonable now that we know one of its main functions is to activate and stimulate the immune system.
Although I’m a strong supporter of H2O2 therapy, I’m not suggesting that everyone needs to be using it.
There are probably some individuals whose health and well-being wouldn’t be enhanced with hydrogen peroxide.
But there are also millions of others who are suffering needlessly because they either don’t know about hydrogen peroxide or they’ve been misinformed about its use.
Until next time,
Dr. David Williams
July 22nd, 2011 at 11:10 am
Coast Guard to rescue 15 castaways from Pacific island
By the CNN Wire Staff
July 22, 2011 — Updated 1705 GMT (0105 HKT)
(CNN) — On a small uninhabited island that’s but a small dot on the Pacific, 15 marooned people joined hands to form a giant “SOS” on the beach.
Washed up in a deserted paradise, all the castaways could do was to hope that someone would spot them.
It sounds like an episode of “Survivor” but the 15 people — six children and nine adults — are from Chuuk, a group of islands in the Federated States of Micronesia. And this was no television drama.
Missing since Tuesday, after their small boat hit a coral reef and overturned, the castaways were finally spotted and are awaiting rescue by the U.S. Coast Guard, said spokesman Ensign Richard Russell.
He said they would be rescued after daylight Saturday.
The 15 people — between the ages of 4 and 59 — were heading from Chuuk to Ruo Island for an outing for the children.
Their skiff’s hull was damaged when they hit the coral reef, Russell said.
They dragged the hull to the beach and waited. Their only link to the outside world was a solar-powered radio.
A long-range Navy search plane flew over the area after the Coast Guard received a report of the missing skiff from another vessel in the area.
“Once on scene, the aircraft reported back that a damaged vessel was overturned on the beach and several crude shelters had been erected on the beach,” a Coast Guard statement said.
“Three other boats could be seen on the island and people on the shore began waving at the plane as it soared overhead.”
It was like finding a needle in a haystack, Russell said. A 28-foot boat lost in the world’s largest ocean.
The Chuuk State Department of Transportation reported the boat missing to the Coast Guard Tuesday morning when it was overdue at Ruo Island.
The national government of the Micronesian federation, the Chuuk state government and the Guam sector of the Coast Guard coordinated a joint search to find the boat.
The Federated States of Micronesia is a democratic island group in the Pacific Ocean between Hawaii and Indonesia.
Independent since 1986, the vast archipelago of hundreds of tiny islands comprises a land mass of just 702 square miles, about the size of Singapore. It includes the Chuuk Islands, Yap Islands, Kosrae and Pohnpei.
July 22nd, 2011 at 11:16 am
You liberals love putting down the republican party. You think you are so much smarter. We will see who occupies the White House in 2013.
Hint: The title WHITE House will have meaning again.
Q: Why do so many liberals live in LA?
A: It’s the only city easy enough for them to spell.
Dan
July 22nd, 2011 at 11:21 am
Tyna:
We need you assistance in coordinating energy fields accumulating around ships in close proximity. While the fields are not harmful to humans, they pose a threat to continual cloaking.
July 22nd, 2011 at 1:49 pm
NIKOLA TESLA: A TRUE GENIUS AHEAD OH HIS TIME:
Nikola Tesla: The father of Wireless Technology was a true visionary and futurist who was far ahead of his contemporaries in the field of electrical science and development in the 1880‘s – 1943 — the year of his death. July 10, was Tesla’s birthday.
Tesla was one of the greatest minds of the 19th and 20th centuries, responsible for today’s modern world. Nikola Tesla is still virtually unknown to today’s general public. He invented the florescent bulb, neon lights, speedometer, auto ignition system, and the basics behind radar, the electron microscope, and the microwave oven.
It is said that Thomas Edison was more responsible than anyone else for creating the modern world — That No one did more to shape the physical/cultural makeup of present day civilization. He is known as the most influential figure of the millennium. I disagree. I feel it was Nikola Tesla. The Croation Scientiest who came to America and worked for Thomas Edison, who became forgotten by history and died penniless because of the Giant, Thomas Edison. Chances are you see little, if any, mentions of Tesla. Very few people today have ever even heard of him. The Giant Industrialist Thomas Edison made sure of that.
If Tesla had not had to deal with Thomas Edison’s greed and Corporate Power, the world would probably be far ahead in the sciences. We could possibly be traveling through space right now if he wasn’t quashed by Edison.
Tesla joined Continental Edison Company in Paris where he designed dynamos. In 1883, he privately built a prototype of the induction motor and ran it successfully. Unable to interest anyone in Europe in promoting this radical device, Tesla accepted an offer to work for Thomas Edison in New York. His childhood dream was to come to America to harness the power of Niagara Falls.
Tesla moved to the United States in 1884. When he arrived, he worked as an assistant to Thomas Edison, then in his late 30′s. Edison had just invented the electric light bulb, but he needed a system to distribute electricity to houses. He designed a DC (direct current) system, but it was impractical. Edison promised Tesla lots of money in bonuses if he could get the bugs out. Tesla took the challenge and ended up saving Edison over $100,000, which was millions of dollars by today’s standards. Edison later refused to keep his promise. Tesla quit not long after that, and Edison spent the rest of his life trying to discredit Tesla which is the main reason why he is so unknown today.
In 1888, Tesla devised a better system of transmission — AC (alternating current) used in houses all around the world today. By using Tesla’s newly developed transformers, AC could be stepped up and transmitted over long distances through thin wires. Edison’s DC couldn’t be stepped up, required a large power plant every square mile and thick cables for transmission.
Electricity is useless if it can’t do anything, so in 1890, Tesla invented a motor to run on AC, the same type of motor used in every household appliance today. Scientists of the late 1880′s were convinced that no motor could work with AC. After all, AC electricity reverses itself 60 times a second, so all previous motors would just rock back and forth 60 times a second. Tesla solved this problem and proved them all wrong.
Word of AC eventually got to George Westinghouse. In 1893, Tesla signed a contract with Westinghouse to get $2.50 per Kilowatt of AC electricity sold. Nikola finally had the money to conduct all of the experiments that he had dreamt of. There were many.
Tesla developed and used florescent bulbs in his lab some 40 years before industry “invented” them. At the World’s Fair, Tesla took glass tubes and bent them into famous scientists’ names — the first neon signs. Tesla also designed the world’s first hydroelectric plant at Niagara Falls in 1895. Tesla also patented the first speedometer for cars in 1916. In fact, Tesla invented all of the things that are listed at the beginning paragraphs.
Edison soon had too much money invested into his DC system, and he tried his best to discredit Tesla by showing that AC was more dangerous than DC. Edison paid local children 25 cents for each stray dog they could bring him. Then he would hold press conferences and electrocute the dogs at public gatherings to frighten people. He claimed that DC could not kill, but in fact, it could.
Edison felt that it was necessary to experiment by killing animals before he could guarantee his electric chair would kill efficiently. Yes, it was actually Edison who invented the electric chair to frighten people away from Tesla’s AC system.
But Tesla counteracted by staging his own marketing campaign. At the 1893 World Exposition in Chicago, attended by 21 million, Tesla demonstrated the safety of AC by passing high frequency AC through his body to power light bulbs. He was then able to shoot large lightning bolts into the crowd without harm.
When royalties owed to him by Westinghouse exceeded $1 million, Westinghouse ran into financial trouble. Tesla realized that if he kept his contract, Westinghouse would go out of business, so Tesla took his contract and ripped it up! Instead of becoming the first billionaire, he got $216,600 for his patents.
After all of these technological breakthroughs, Tesla still had not achieved his lifelong dream. All Tesla’s life, he had dreamt of free wireless energy and other signals to be broadcast throughout the world. A wireless world.
Tesla dreamed and could have accomplished the transmission of AC current without the use of wires.
In 1900, Tesla was backed with $150,000 from J. P. Morgan. Tesla began construction of “Wireless Broadcasting System” tower on Long Island, New York. Tesla intended to use it to link the world’s telephone and telegraph and to transmit pictures, stock reports, and weather information. We now use Tesla’s genius every day when we use a cell phone. No wires.
The world thought that Tesla was crazy. Transmission of voice and pictures was unheard of in that time. What they didn’t know is that he had already demonstrated the principals behind radio nearly ten years before Marconi’s supposed invention. In 1943, the year that Tesla died, the Supreme Court ruled Marconi’s patents invalid due to Tesla’s previous descriptions, but yet most textbooks and encyclopedias credit Marconi.
PART II TOMORROW — HOWIE
July 22nd, 2011 at 3:07 pm
Howie, I’m a big Tesla fan. I always appreciate reading about him.
July 22nd, 2011 at 6:00 pm
No surprise here:
House Speaker John Boehner abruptly broke off talks with President Barack Obama Friday night on a deal to cut spending and avert a threatened government default, sending compromise efforts into a crisis state.
Within minutes, an obviously peeved Obama virtually ordered congressional leaders to the White House for a Saturday meeting on raising the nation’s debt limit. “We’ve got to get it done. It is not an option not to do it,” he said.
Officials say a default could destabilize the already weakened U.S. economy and send major ripple effects across the globe. Leaders in a divided government, Obama and Boehner blamed each other’s partisans for torpedoing a deal.
“In the end, we couldn’t connect,” Boehner wrote Republican rank-and-file lawmakers, accusing the president of wanting to raise taxes and being reluctant to cut benefit programs.
But Obama, in a rare Friday evening turn at the White House podium, said, “I’ve been left at the altar now a couple of times.”
“If Congress and the House Republicans are not willing to ensure that we avoid default, it’s fair to say they take responsibility for whatever arises,” the president said.
Story posted 2011.07.22 at 03:51 PM PDT at ABC News
Wherez
July 22nd, 2011 at 6:08 pm
I was going to add wherez Anonz when you need him? I wish he could spend some time and effort to have these greedy pricks held accountable for their slimy underhanded exploitation of not just Americans but people all around the world. After Murdoch is crushed I hope he starts taking down some of our politicians and “business men.”
Obama is loved around the world except for this county because of bigots who can’t see past the color of skin. There is no pride in being an American when you read about political dealing like this.
/SB
July 22nd, 2011 at 8:16 pm
Social Butterfly:
Those “greedy pricks” you are talking about are the republicans the electorate returned to office to take back their country from the upstart OTW. Why should Anonz be concerned about a population that values the color of the President’s skin over the economic health of the country.
As stupid as most republican rank and file are, even they must know that it was the deregulation of the banks and the tax breaks to the super rich both done by a republican administration that got us into this mess.
Yet, they don’t care as long as they can get a white face back into the white house. People like that deserve what they get. If I were Anonz, I would join the bunch fleecing them.
Lawrence
July 22nd, 2011 at 8:46 pm
Good News!
Th six children and nine adults in Comment #7 -Hafa Adai Says:
July 22nd, 2011 at 11:10 am
Coast Guard to rescue 15 castaways from Pacific island – were rescued and are safe.
Hafa Adai
Anna
July 22nd, 2011 at 9:53 pm
That was very informative Howie. I look forward to the next installment.
joseph
July 22nd, 2011 at 9:57 pm
200 Days and No Jobs Plan
July 22, 2011
Saturday marks the 200th day since Republicans took control of the House and yet not a single bill to create jobs and put Americans back to work has been passed. Instead, they have focused their efforts on passing legislation that eliminates existing jobs and further risks our fragile economy:
HR 1 – The House-passed ‘So Be It’ spending bill destroys 700,000 jobs, stalls our economic recovery, and protects tax breaks for Big Oil.
HR 2 – The Patients’ Rights Repeal bill puts insurance companies back in charge and repeals the Affordable Care Act, thereby destroying more than 300,000 jobs.
H.Con.Res. 34 – The Ryan budget cuts key investments to our economic future costing Americans 1.7 million jobs by 2014, with 900,000 jobs lost next year, according to Mark Zandi, chief economist at Moody’s Analytics.
HR 658 – The FAA Reauthorization and Reform Act will destroy 70,000 jobs, undermining our nation’s infrastructure, and jeopardizing runway safety and improvements.
H.R. 2560 –The “Cut, Cap and End Medicare” plan – a plan more extreme than the Ryan budget – will destroy 700,000 jobs while ending Medicare.
My Democratic colleagues and I understand that the top priority of the American people is job creation. Through our “Make it in America” initiative, we have laid out a plan to revitalize manufacturing in America, create new good-paying jobs, and make our nation more secure. Congress must work to pass legislation that supports economic growth and long-term job creation, providing economic security to all Americans.
Congresswoman Pelosi meets with young Americans to discuss their priorities
Fulfilling our Obligations
Congress must come to a balanced, bi-partisan agreement that reduces our debt, protects our seniors and creates jobs.
Defaulting on our commitments is not an option. Without an agreement stock prices could fall, housing prices could drop and massive numbers of federal workers could be furloughed.
Furthermore, Social Security checks could be withheld, causing many seniors to go without this crucial source of income. Congress must work towards a bipartisan solution that honors the full faith and credit of the United States, prevents the U.S. from defaulting on its loans and maintains its position as a leader on the world stage.
Early Closings at Social Security Offices
Beginning August 15, 2011, Social Security offices nationwide will close to the public 30 minutes early each day.
Many Social Security services may be accessed online or by phone. If you wish to apply for benefits, sign up for direct deposit, replace a Medicare card, obtain a proof of income letter or inform Social Security of a change of address or telephone number you may do so online or by calling their office at 800.772.1213.
July 22nd, 2011 at 10:37 pm
Why You Need China in Your Portfolio
Top Ways for Americans to Invest Safely
Paul Goodwin
China is widely considered to be one of the most attractive and exciting long-term investment opportunities in the world.
Last year, this nation of 1.3 billion people replaced Japan as the world’s second-largest economy and could surpass the US economy as soon as 2025. It already is the world’s largest exporter.
But after more than a decade of economic growth that averaged 9.9% per year and stock market returns that averaged 7.7%, there have been clouds in China’s investment outlook.
Investors are asking whether China’s attempts to fight inflation by raising interest rates along with other measures will slow economic growth to a drastic degree.
That could have bleak consequences not only for investments in China but also in other emerging markets and in diversified foreign-stock mutual funds.
Bottom Line/Personal asked emerging-markets investment expert Paul Goodwin why China is still a great place to invest despite the challenges it faces…
GROWING PAINS
From early November last year to late January, the Shanghai Composite Index plunged by more than 15%. It ended 2010 with an 11% loss for the year, compared with a 15% gain for the Standard & Poor’s 500 stock index.
Reason: Investor confidence was shaken as China faced rapidly rising inflation.
That inflation—a 5.4% gain in consumer prices for the 12 months ended in March—stemmed from factors such as a red-hot real estate market and the spiking cost of many commodities that China imports, such as oil, copper and iron ore.
The central government raised its benchmark short-term interest rate four times in the last six months and will probably have to keep raising rates for months, which investors fear might crush economic growth.
These all are reasons for concern, but long-term investors shouldn’t panic. I think the government will be able to steer a path that avoids both runaway inflation and a plunge in economic growth.
In fact, the Chinese stock market is up by about 8% this year as of mid-April despite additional pressures, such as soaring oil prices and much higher wheat prices due to a severe winter drought in China’s Northern Plains.
While there have been spectacular real estate price increases in such major cities as Beijing, Shanghai and Guangzhou, China isn’t facing a credit bubble like the one that devastated the US banking system in recent years.
It avoided that kind of crisis by imposing strict mortgage lending requirements and strictly regulating the sale of derivatives—the packaged baskets of shaky mortgage loans that helped crush the US credit and real estate markets and that Warren Buffett dubbed “weapons of mass destruction.”
What’s really happening is that China is going through big growing pains as it struggles to decrease its tremendous reliance on selling exports to the rest of the world and increase its own domestic consumer spending.
In the next few years, China’s economy is likely to grow by 7% to 10% a year—that’s still two to three times the rate that sluggish developed economies will likely achieve.
HOW TO INVEST
As an investor, it’s important that you have some exposure to China—which represents more than 10% of the world’s gross domestic product (GDP)—but you have to know how to invest there.
It’s difficult for foreigners to invest in China’s public companies directly because foreigners are required to have expensive, hard-to-obtain permits.
Also, Chinese companies tend to have substandard accounting and financial disclosure practices. To avoid this problem, I choose investments only from among the 200 Chinese companies whose stocks trade as American Depositary Receipts (ADRs) in the US.
These ADRs, which represent ownership in shares of foreign corporations that trade in US financial markets, are denominated in US dollars.
They offer a measure of safety because the companies issuing the shares must meet stringent accounting, disclosure and financial statement standards approved by the Securities and Exchange Commission.
I also like US companies that have expanding operations in China.
Warning: Avoid the common mistake of investing in index funds and exchange-traded funds (ETFs) that track the broad Chinese stock market.
That market can be very volatile, and I don’t want to risk losing 65% as the Shanghai Composite Index did in 2008.
My preferred approach is to focus on Chinese companies that are tapping into three trends so powerful that they are unlikely to be derailed by higher inflation or a slowdown in economic growth…
TREND 1: City living
China’s ongoing rural-to-urban shift is one of the largest human migrations in history. City populations will expand by 20 million this year. The stocks that benefit…
Freeport-McMoRan Copper & Gold Inc. (FCX) is the largest copper miner in the world. More and more Chinese city dwellers desire the amenities of modern life, such as TVs, air conditioners and appliances.
The average home requires at least 90 pounds of copper in electrical wiring and appliances, so it’s not surprising that the worldwide price of copper has tripled since the early 2000s. Recent share price: $51.17.
Yum! Brands, Inc. (YUM) is one of the largest fast-food restaurant companies in the world, with about $11.3 billion in annual sales from franchised chains.
That includes Pizza Hut, Taco Bell, Long John Silver’s and KFC—the dominant fast-food chain in China. Yum! has vast potential for growth in China, which has far more young consumers than the US. Recent share price: $51.12.
TREND 2: Trading up
Along with moving to cities, millions of Chinese workers are earning higher wages, joining the middle class and exercising their new consumer spending power by buying homes, automobiles and computers and traveling more. The stocks that benefit…
Baidu (BIDU) is the leading Chinese-language Internet-search provider. Like Google, it collects its revenue through paid online advertising and has a virtual monopoly in its field.
But Baidu has a much larger untapped market—only about 32% of the huge Chinese population already has access to the Internet, compared with 77% of Americans, and that will grow rapidly. Baidu also holds more than $1 billion in cash and has no debt. Recent share price: $146.81.
China Yuchai International Ltd. (CYD) makes diesel and natural gas engines for Chinese cars.
In 2009, China overtook the US as the world’s largest car market, and in 2010, sales of vehicles in China jumped by 32%.
This company will benefit greatly from China’s tightening of emission limits. Recent share price: $30.04.
TREND 3: Building boom
The vast central and western regions of China still are largely underdeveloped.
To balance out the vast improvements that have taken place in the big cities, China will make sure that these regions get trillions of dollars of basic infrastructure, including raw materials, power generation, roads, rail lines, airports, and water and waste systems. The stocks that benefit…
Caterpillar Inc. (CAT) is the dominant global manufacturer of heavy construction equipment, such as bulldozers and excavators, and engines for off-highway vehicles.
China already is one of the largest markets for Caterpillar, with a total of more than $2 billion in sales there over the past five years.
With 11 plants operating throughout China, Caterpillar is likely to be the leading construction equipment manufacturer there by 2015.
Also, the need for major clearing and reconstruction following the earthquake disaster in Japan may require additional equipment from Caterpillar. Recent share price: $107.21.
CNOOC Ltd. (CEO) is one of China’s largest oil and natural gas companies. The Chinese now are the second-largest oil consumers behind the US and gaining rapidly.
CNOOC’s exclusive rights from the government to partner with foreign companies in offshore production in places such as Indonesia, Nigeria and Australia give it a huge advantage over all Chinese competitors.
Economic growth in China will be particularly lucrative for CNOOC’s natural gas business as the government looks for a cleaner fuel to meet burgeoning energy demands. Recent share price: $254.54.
Personal interviewed Paul Goodwin, editor of the Cabot China & Emerging Markets Report, Cabot Heritage Corp., Salem, Massachusetts.
The newsletter’s recommended portfolio returned an annualized 13.9% over the five years ending March 31, 2011, versus 2.6% for the S&P 500. http://www.cabot.net
July 22nd, 2011 at 10:42 pm
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