In case you missed it, on July 21st 2011 the U.S. Government Accountability Office (GAO) released a 266 page partial audit of the Federal Reserve (FED).
Here is the punch line: The Federal Reserve secretly kept the Phony-Fiat-Money-System afloat by "lending" out $16 Trillion Dollars to various corporations and banks, many of which were foreign, non-U.S. entities like The Bank of Scotland, UBS (Switzerland), Deutche Bank (Germany) and Societe Generale SA (France) between December 1, 2007 through July 21, 2010 (read this as: Created-Out-Of-Thin-Air and had refused to tell us). The details are on page 133 which you can read here.
How big is $16 Trillion Dollars? Well, to get a basic idea please review this excellent presentation. Here are some other ways to try to get your head around this astounding number:
The entire U.S. GDP is $14.8 Trillion Dollars. That is what everybody: you, me, everybody, including all Government spent in 2010.
The entire U.S. Debt over the past 200 years is $14.5 Trillion Dollars. It used to take time to dig a whole this deep….no more!
To think about it with a bit more personal impact let’s just pretend that you can carry a backpack with one million pounds in it. Now make that backpack 16 Million times more heavy!
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Thursday, August 18, 2011
Foreclosures Not Letting Up
For developers and homeowners, market not done caving
It was a bad week for major foreclosures in Delaware, and real estate veterans say there are a lot more to come, especially in Kent and Sussex counties.One Maryland-based developer lost prime building land near Lewes and on Indian River Bay, along with an entire subdivision north of Milton, on Tuesday, when Stonebridge Bank bought the properties for just over $1 million at a Sussex County sheriff's sale, following foreclosure on more than $13.8 million in debts to the bank.
The same day, another local investor group lost a planned 64-acre development near the Assawoman Bay State Wildlife area in a Wilmington Savings Fund Society foreclosure and sale that netted the bank about $2.2 million of the $6.9 million owed on a $10 million mortgage dating to 2006.
More
AFTER $8 TRILLION – ARE YOU SAFER?
The killing of Osama Bin Laden did not put cuts in national security spending on the table, but the debt-ceiling debate finally did. And mild as those projected cuts might have been, last week newly minted Secretary of Defense Leon Panetta was already digging in his heels and decrying the modest potential cost-cutting plans as a “doomsday mechanism” for the military. Pentagon allies on Capitol Hill were similarly raising the alarm as they moved forward with this year’s even larger military budget.
None of this should surprise you. As with all addictions, once you’re hooked on massive military spending, it’s hard to think realistically or ask the obvious questions. So, at a moment when discussion about cutting military spending is actually on the rise for the first time in years, let me offer some little known basics about the spending spree this country has been on since September 11, 2001, and raise just a few simple questions about what all that money has actually bought Americans.
Consider this my contribution to a future 12-step program for national security sobriety.
Let’s start with the three basic post-9/11 numbers that Washington’s addicts need to know:
1. $5.9 trillion: That’s the sum of taxpayer dollars that’s gone into the Pentagon’s annual “base budget,” from 2000 to today. Note that the base budget includes nuclear weapons activities, even though they are overseen by the Department of Energy, but — and this is crucial — not the cost of our wars in Iraq and Afghanistan. Nonetheless, even without those war costs, the Pentagon budget managed to grow from $302.9 billion in 2000, to $545.1 billion in 2011. That’s a dollar increase of $242.2 billion or an 80% jump ($163.6 billion and 44% if you adjust for inflation). It’s enough to make your head swim, and we’re barely started.
2. $1.36 trillion: That’s the total cost of the Iraq and Afghan wars by this September 30th, the end of the current fiscal year, including all moneys spent for those wars by the Pentagon, the State Department, the U.S. Agency for International Development, and other federal agencies. Of this, $869 billion will have been for Iraq, $487.6 billion for Afghanistan.
Add up our first two key national security spending numbers and you’re already at $7.2 trillion since the September 11th attacks. And even that staggering figure doesn’t catch the full extent of Washington spending in these years. So onward to our third number:
3. $636 billion: Most people usually ignore this part of the national security budget and we seldom see any figures for it, but it’s the amount, adjusted for inflation, that the U.S. government has spent so far on “homeland security.” This isn’t an easy figure to arrive at because homeland-security funding flows through literally dozens of federal agencies and not just the Department of Homeland Security (DHS). A mere $16 billion was requested for homeland security in 2001. For 2012, the figure is $71.6 billion, only $37 billion of which will go through DHS. A substantial part, $18.1 billion, will be funneled through — don’t be surprised — the Department of Defense, while other agencies like the Department of Health and Human Services ($4.6 billion) and the Department of Justice ($4.1 billion) pick up the slack.
More
None of this should surprise you. As with all addictions, once you’re hooked on massive military spending, it’s hard to think realistically or ask the obvious questions. So, at a moment when discussion about cutting military spending is actually on the rise for the first time in years, let me offer some little known basics about the spending spree this country has been on since September 11, 2001, and raise just a few simple questions about what all that money has actually bought Americans.
Consider this my contribution to a future 12-step program for national security sobriety.
Let’s start with the three basic post-9/11 numbers that Washington’s addicts need to know:
1. $5.9 trillion: That’s the sum of taxpayer dollars that’s gone into the Pentagon’s annual “base budget,” from 2000 to today. Note that the base budget includes nuclear weapons activities, even though they are overseen by the Department of Energy, but — and this is crucial — not the cost of our wars in Iraq and Afghanistan. Nonetheless, even without those war costs, the Pentagon budget managed to grow from $302.9 billion in 2000, to $545.1 billion in 2011. That’s a dollar increase of $242.2 billion or an 80% jump ($163.6 billion and 44% if you adjust for inflation). It’s enough to make your head swim, and we’re barely started.
2. $1.36 trillion: That’s the total cost of the Iraq and Afghan wars by this September 30th, the end of the current fiscal year, including all moneys spent for those wars by the Pentagon, the State Department, the U.S. Agency for International Development, and other federal agencies. Of this, $869 billion will have been for Iraq, $487.6 billion for Afghanistan.
Add up our first two key national security spending numbers and you’re already at $7.2 trillion since the September 11th attacks. And even that staggering figure doesn’t catch the full extent of Washington spending in these years. So onward to our third number:
3. $636 billion: Most people usually ignore this part of the national security budget and we seldom see any figures for it, but it’s the amount, adjusted for inflation, that the U.S. government has spent so far on “homeland security.” This isn’t an easy figure to arrive at because homeland-security funding flows through literally dozens of federal agencies and not just the Department of Homeland Security (DHS). A mere $16 billion was requested for homeland security in 2001. For 2012, the figure is $71.6 billion, only $37 billion of which will go through DHS. A substantial part, $18.1 billion, will be funneled through — don’t be surprised — the Department of Defense, while other agencies like the Department of Health and Human Services ($4.6 billion) and the Department of Justice ($4.1 billion) pick up the slack.
More
Herd Of Cows, A Flock Of Chickens
The English language has some wonderfully anthropomorphic collective nouns for the various groups of animals.
We are all familiar with a Herd of cows, a Flock of chickens, a School of fish and a Gaggle of geese.
However, less widely known is a Pride of lions, a Murder of crows (as well as their cousins the rooks and ravens), an Exaltation of doves and, presumably because they look so wise, a Parliament of owls.
Now consider a group of Baboons. They are the loudest, most dangerous, most obnoxious, most viciously aggressive and least intelligent of all primates. And what is the proper collective noun for a group of baboons?
Believe it or not ....... a Congress!
I guess that pretty much explains the things that come out of Washington!
We are all familiar with a Herd of cows, a Flock of chickens, a School of fish and a Gaggle of geese.
However, less widely known is a Pride of lions, a Murder of crows (as well as their cousins the rooks and ravens), an Exaltation of doves and, presumably because they look so wise, a Parliament of owls.
Now consider a group of Baboons. They are the loudest, most dangerous, most obnoxious, most viciously aggressive and least intelligent of all primates. And what is the proper collective noun for a group of baboons?
Believe it or not ....... a Congress!
I guess that pretty much explains the things that come out of Washington!
Did You Notice
Did you notice when Obama wasn't getting his way on raising
the debt ceiling. . . whom he focused his threats on?
the debt ceiling. . . whom he focused his threats on?
He did not threaten to stop payments to illegal aliens, he did not threaten to take frivolous benefits such as internet access away from violent inmates, he did not offer to fire some of the thousands of unnecessary federal employees that he hired, he did not offer to cut down on his or his wife's frivolous gallivanting around, he did not threaten not to pay the senators and representatives or any of their staff, he did not threaten to take benefits away from people who are just too lazy to work, he did not threaten to take benefits away from welfare recipients, he did not threaten the food stamp programs, he did not threaten not to pay foreign a id. Nor did he offer to give up his almost "daily" Air Force One trips. What does it really cost to fire that big bird up and deliver him wherever he wants to go? The engine hasn't cooled down since he took office!
This list goes on and on. He did not threaten to cut back on anything that involves his voting base.
He is in full political reelection mode!
Nebraska Jail Adopts 2 Cats For Inmates
NORTH PLATTE, Neb. (AP) - A Nebraska jail has adopted two cats from a local animal shelter, and the sheriff says they're helping lower tensions.
More
More
Why Your Nose Itches More As You Age
WASHINGTON -- Ever notice that older people seem to have runny noses? Or that someone you know is suddenly allergic to shellfish who never was before?
As people age, they can develop new sensitivities to things they never had problems with before. Maybe it's perfume that now makes you sneeze, or suddenly pollen gives you a runny nose.
"Well, we're always morphing," says Dr. Rachel Schreiber, an allergist with Shady Grove Adventist Hospital.
"The immune system can weaken as we get older," Schreiber says.
"Our bodies overall just become less elastic. Oftentimes people get a runnier nose as they age."
More
As people age, they can develop new sensitivities to things they never had problems with before. Maybe it's perfume that now makes you sneeze, or suddenly pollen gives you a runny nose.
"Well, we're always morphing," says Dr. Rachel Schreiber, an allergist with Shady Grove Adventist Hospital.
"The immune system can weaken as we get older," Schreiber says.
"Our bodies overall just become less elastic. Oftentimes people get a runnier nose as they age."
More
Beware: Computer Virus Disguises Itself As Unpaid Ticket
WASHINGTON -- Internet users are being warned not to open e-mails that appear to be traffic tickets as they may be a new computer virus in disguise.
Authorities say a new virus scam is circulating in which people report receiving e-mails that appear to come from the New York Department of Motor Vehicles with a subject line that reads "Uniform Traffic Ticket."
New York State Police say a virus could be unleashed when these e-mails are opened.
The e-mail claims to be notification of an unpaid speeding ticket in New York State on the morning of July 5.
But it's not. Instead, it's a hoax.
More
Authorities say a new virus scam is circulating in which people report receiving e-mails that appear to come from the New York Department of Motor Vehicles with a subject line that reads "Uniform Traffic Ticket."
New York State Police say a virus could be unleashed when these e-mails are opened.
The e-mail claims to be notification of an unpaid speeding ticket in New York State on the morning of July 5.
But it's not. Instead, it's a hoax.
More
BREAKING NEWS: Stocks Rally Off Lows, But Remain Sharply Lower
Stocks have stabilized at sharply lower levels Thursday around midday, with the major averages off 3-4%.
The headwinds facing equities were already strong, and they grew stronger with this morning’s economic data; the bearish news included a frighteningly low read on mid-Atlantic factory activity, higher prices at the consumer level, a soft weekly jobless claims report and more weakness in the housing market. The Dow is off 385, or 3.4%, the Nasdaq Composite index shed 101, or 4%, to 2410, and the S&P 500 lost 44, or 3.7%, to 1149.
From Fox News
The headwinds facing equities were already strong, and they grew stronger with this morning’s economic data; the bearish news included a frighteningly low read on mid-Atlantic factory activity, higher prices at the consumer level, a soft weekly jobless claims report and more weakness in the housing market. The Dow is off 385, or 3.4%, the Nasdaq Composite index shed 101, or 4%, to 2410, and the S&P 500 lost 44, or 3.7%, to 1149.
From Fox News
Debate Over Probation Officer Staffing Continues
The head of the union representing parole and probation officers is taking strong exception to the letter from the acting head of the division that we published last week, “Probation caseloads are taken out of context.” That in turn was a response to our initial article, “Probation officers are stretched too thin, union head says.”
Continue Reading...
Continue Reading...
RICK POLLITT: TRY TELLING THE TRUTH NEXT TIME
According to Mr. Pollitt, when County residents voted to change the Charter to have an elected County Executive, rather than an administrator (manager) appointed by the County Council, they were voting for more than that change. He postures that the voters also intended that the elected County Executive would spend much if not most of his time in non-administrative activity – for example, formulating and promoting a grand vision, quality of life, the poultry industry, etc. – which is (according to him) the real reason for the elected position. In short, the administrative tasks can be handled by assistants.
But nobody else – with the possible exception of his office staff – remembers it that way. Everyone else I’ve talked with recalls that the public was sold (many now say scammed) on the elected executive simply as a full time CEO in charge of county governmental operations. By having an elected CEO, it was widely believed, the cost of the County government would be reduced and its efficiency increased. The only "change" that was intended or discussed was the manner in which the CEO is selected – i.e., by election rather than by appointment, with the tasks and role remaining the same rather than altered as Mr.Pollitt would have the public believe.
So, to see exactly what was intended to be the role of the elected County Executive, I consulted Section 402 of the Wicomico County Charter, in which the "powers and duties" of the elected County Executive were specified when the Charter was adopted by the voters. Rather than quote them, the complete text of that provision is presented with this post. Suffice it to say, it does not support Mr. Pollitt to any extent whatsoever.
I’m sorry and very sad to say that it appears Mr. Pollitt has been conning the public for the past couple months if not longer. In fact, in his 2007 "State of the County" speech, he told us that the primary task of the County Exec. is to prepare the annual budget, which is consistent with the plain language of the Charter. In essence, Rick now is trying to change the Charter to suit his personal view of things, and in doing so has distorted history to say the least.
BP Investigates New Sheen In Gulf
(LONDON) — Oil giant BP said Thursday that it was investigating a new sheen in the Gulf of Mexico but there was no immediate indication it was the result of a new oil spill.
A catastrophic April 2010 explosion at BP's Macondo well in the Gulf killed 11 men and led to the worst offshore oil spill in U.S. history.
More
Christine O'Donnell Walks Off Interview
Christine O'Donnell walks off her interview with Piers Morgan after he asks about her views on gay marriage.
Justice Department Reportedly Investigating Standard & Poor's
The Justice Department is investigating whether the Standard & Poor's credit ratings agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis, The New York Times reported Wednesday.
The investigation began before Standard & Poor's cut the United States' AAA credit rating this month, but it's likely to add to the political firestorm created by the downgrade, the newspaper said. Some government officials have since questioned the agency's secretive process, its credibility and the competence of its analysts, claiming to have found an error in its debt calculations.
Today's Survey Question 8-18-11
Lets go where the MSM won't!
$1.6 Billion In Revenue, Where's The Money
$500,000,000.00 went to the state, GO FIGURE.
$50,000,000.00 went to Education, HELLOOOOO!
The announcement seemed to pretty much end there, or that's what the MSM wanted you to know anyway. That being the case, where's the rest. Because the MAJORITY of their viewers are rednecks working in the chicken industry, (that's what their consultants told them, so don't bark at me) doesn't mean they, nor anyone else is that stupid.
Then I start to question the numbers that they DID announce. $500,000,000.00 to the state. Please tell me why we're raising Tolls everywhere then. Please tell me why the sales tax is still at 6%. Please tell me why O'Malley continues to steal our highway tax money to care for Wicomico County roads.
Then I just about threw the remote at the TV when they mentioned $50,000,000.00 given to education. You have got to be BS'ing me! All those WET PANTS LIBERALS bragging about EDUCATION yet they got SH!T on by O'Malley once again. I started asking around last night what people thought about these numbers and the very first thing out of every one's mouth was, wasn't the majority of that money supposed to go to education!
Welcome to the real world of politics and not some feel good, butt kissing television station with their head up their rear ends not willing to ASK questions and do even the slightest investigative reporting and or spend time looking deeper into the numbers. Oh, that's right, Salisbury News will do all that for you.
$50,000,000.00 isn't JACK, O'Malley! Not when you bring in $1.67 Billion in revenue.
Lawsuit: Mo. Girl Expelled For Making Rape Claim
(CBS News)
A southwestern Missouri school district has denied accusations in a federal lawsuit that officials failed to protect a middle-school girl from being raped, calling the lawsuit "frivolous" and saying the girl "neglected to use reasonable means to protect herself."
The girl, identified as a 7th grade special education student, was raped twice during the course of two school years, according to the lawsuit filed July 5 against Republic School District in U.S. District Court for the Western District of Missouri. The lawsuit was first reported by the Springfield News-Leader newspaper in Missouri Wednesday.
Carnival Cruise Becomes Vacation Nightmare
Jennifer and her husband went on a cruise for their vacation last month, but it wasn't all that relaxing. They ended up less healthy and more stressed at the end of the vacation than at the beginning. It began with an asthma attack-inducing smoke-filled stateroom, and somehow actually got worse from there. Worse how? There was the food poisoning, accidentally being double charged for everything, and a ship employee who was almost comically insensitive to the fact that Jennifer uses a wheelchair.
More »
More »
Obama: U.S. Not In Danger Of Second Recession
(CBS News)
ATKINSON, ILL. - At the end of his Midwest bus tour, CBS News senior business correspondent Anthony Mason interviewed President Obama for this week's "Sunday Morning" program. Mason asked Mr. Obama which way he thinks the economy is headed.
Mason reports Mr. Obama said he was happy to be out of Washington - and he looked it. He insisted he was on a listening tour, not a campaign swing. But in his three day bus trip across Minnesota, Iowa and Illinois - three states he carried in the last election - he has been getting an earful about the economy.
Subscribe to:
Posts (Atom)