Blogging is better for your health than jogging. If I jogged at my age, I could get a heart attack, but blogging relieves stress. Whenever I get upset about situations and idiots who are seemingly everywhere, I write a blog to get it off my chest. I hope the stress isn't transferred to readers! I can tell you from personal experience that heart attacks are no fun!

STATE OF THE UNION SPEECH

January 28, 2010

I listened to Obama's entire State of the Union speech last night and must admit that he has a golden tongue and knows how to work crowds! Alert cameramen caught Napolitano napping and Ried yawning, but President Obama was obviously in his element, doing what he does best.

The audience was strangely silent toward the end of the speech. Obama seemed nervous when he paused for applause that didn't even come from the Democrat side. At one point, Joe Biden could be seen applauding, but he stopped clapping when he realized that he was all alone.

Many other politicians have had the gift of oratory and rhetoric, but history has shown that these traits have not always been beneficial to the constituency (voters, supporters), let alone the subjects of dictatorships.

Deficit of Trust
The President said that he had observed a "deficit of trust" in America. The deficit of trust has been rather obvious to some of us, but many Americans are still naive enough to think that small print on packages, contracts and labels is insignificant. They listen to the sales pitch and buy whatever sounds good. That is why they voted for Obama.

The rest of us didn't trust him and voted for McCain or not at all. In the past year, our trust in the President, Congress and the Senate has eroded even more. Considering the debacle in Massachusetts, many who voted for Obama are also having second thoughts.

I have been blogging about this lack of trust for quite a while already and contend that it isn't just politicians who aren't trusted. Many motorists drive with a "me, myself, mine and I" mentality. And when they get where they are going, they go into a shop or the workplace or church or their home where that attitude continues to prevail. People don't trust their employers, employees, lenders, borrowers, husbands, wives, parents or children. Ask anyone in this category and they can tell you why. It's because of broken promises and unfulfilled expectations. Oh yes, it is always the other person's fault.

I little child asked, "Mommy, do all fairy tales start with 'once upon a time?'" Mommy relied, "No child, some of them start with 'I do" and others start with 'If I am elected, I will.'"

I wrote about President Obama's standard explanation for America's problems in my last blog. He used the phrase "the past eight years" again last night, but also added an updated version, "the past decade." Either way you look at it, I must give him credit for including his own first year.

Restoring Trust
President Obama praised Americans for traditionally showing "human dignity," "ideals," "values," and "fundamental decency," but he chided them for not allowing gays to parade their sexual desires in the military.

Obama announced his plan to restore trust in the Federal Government. He is calling for a freeze on government spending (with some exceptions) for three years.

That should really scare Americans! We have been alarmed at the astronomical sums of taxpayer money (mostly of our children and grandchildren) that have been thrown at banks, mortgage companies and auto makers. There seems to be no end of this reckless spending for bail-outs and stimulus plans.

The President added that the freeze will not begin until next year. That gives him enough time to wrap up his three trillion dollar health plan with all the pork needed to buy the necessary votes.

Our President promised that this (wild and reckless spending) will continue to increase in 2010 and then "freeze" through 2014.

Did that restore your trust?

"THE PAST EIGHT YEARS"

January 21, 2010

I was determined not to write a blog about the election of Senator Brown in Massachusetts because everyone else was doing it. I changed my mind.

In yesterday's evening news, ABC's Stephanopoulos had an exclusive interview with President Obama. Obama gave his assessment of the situation which brought about the big upset in Massachusetts.

Obama said, "Here's my assessment of not just the vote in Massachusetts, but the mood around the country. The same thing that swept Scott Brown into office swept me into office. People are angry, and they're frustrated. Not just because of what's happened in the last year or two years, but what's happened over the last eight years."

In other words, Obama now concedes that George W. Bush's first year in office was ok and his own first year was lousy. Otherwise, nothing has changed. Obama's favorite cliche' is still "the past eight years."

Obama was obviously ad-libbing and not reading a prepared speech from his teleprompters.

Almost two years ago, on my birthday (March 8, 2008), I wrote a blog about political jargon and shared one of Obama's little-known idiotic statements. In a speech at Drexel University, he blamed Republicans for the high gasoline prices but was forced to concede that the prices had gone back slightly in recent weeks. Then he said, "But just wait! After the election, the prices will go up again!" The audience gave him a standing ovation.

It amazes me that there are still Americans out there who think Obama is a great orator. A President who thinks Massachusetts Democrats voted for a Republican because they are angry and frustrated with Republicans amazes me even more!

25 YEARS AGO TODAY - MY FIRST COMPUTER

January 11, 2010

Exactly 25 years ago today I purchased my first computer, a Commodore 64.

My new computer had a 5 1/2" floppy disk drive (it really was floppy!), a monochrome monitor (I think it was 12" diagonal) and a dot matrix printer (young people probably never heard of those). I paid about $1500 for everything including a bookkeeping program on floppy disc.

I just dug up the sales brochure and copied the specs for readers of this blog.

Just to give you an idea of the amount of ram this thing had, the two reduced pictures on this blog total about 64kb.

Every time I use my desktop computer running Windows, I get nostalgic and wish they could still make computers like they used to. Twenty-five years ago, there were no daily updates, virus scans, pop-ups, error messages or crashes to interrupt your work. You just turned the Commodore 64 on and went to work. When finished, you saved your work and turned it off.

Ten years later Commodore was bankrupt and my fourth PC was running Windows. Someone sent me the following. Enjoy!

Abbott and Costello Meet Windows 95

Costello: Hey, Abbott!
Abbot: Yes, Lou?
Costello: I just got my first computer.
Abbot: That's great Lou. What did you get?
Costello: A 486 DX-266, with 16 MB RAM, and 325 MB hard drive.
Abbot: That's terrific, Lou.
Costello: But I don't know what any of it means!!
Abbot: You will in time.
Costello: That's exactly why I am here to see you.
Abbot: Oh?
Costello: I heard that you are a real computer expert.
Abbot: Well, I don't know-
Costello: Yes-sir-ee. You know your stuff. And you're going to help me.
Abbot: O.K. Lou. What do want to know?
Costello: I managed to turn it on, but I can't figure out how to turn it off.
Abbot: Well, first you press the Start button, and then-
Costello: No, I told you, I want to turn it off.
Abbot: I know, you press the Start button-
Costello: Wait a second. I want to turn it Off. I know how to start it. So tell me what to do.
Abbot: I did.
Costello: When?
Abbot: When I told you to press the Start button.
Costello: Why should I press the Start button?
Abbot: To shut off the computer.
Costello: Press Start to stop?
Abbot: Well Start doesn't actually stop the computer.
Costello: I knew it! So what do I press?
Abbot: Start.
Costello: Start what?
Abbot: Start button.
Costello: Start button to do what?
Abbot: Shut down.
Costello: You don't have to get rude!
Abbot: No, no, no! That's not what I meant.
Costello: Then say what you mean.
Abbot: To shut down the computer, press-
Costello: Don't say, "Start!"
Abbot: Then what do you want me to say?
Costello: Look, if I want to turn off the computer, I am willing to press "Stop," "End," "Cease and Desist" buttons, but no one in their right mind presses "Start" to Stop.
Abbot: But that's what you do.
Costello: And you probably Go at Stop signs, and Stop at green lights.
Abbot: Don't be ridiculous.
Costello: I'M being ridiculous? Well. I think it's about time we started this conversation.
Abbot: What are you talking about?
Costello: I am starting this conversation right now. Good-bye.

Microsoft hasn't learned much in the last fifteen years. You still have to press the "Start" button to turn off the computer.

MONEY MANAGEMENT

January 4, 2010

The Federal Deposit Insurance Corporation (FDIC), the organization that "insures" your bank deposits, ran out of money in October, 2009. The FDIC expects to be "in the red" through 2012. No one dares to make any prognosis beyond that date.

In September, 2008, the FDIC reported that 117 banks were in trouble. By the end of October, 2009, more than three fourths of the institutions named had gone under. Since 2000, 200 banks have failed, seven alone on one day, October 23rd!

The list of "problem banks" nearly quadrupled to 416 institutions by August 27, 2009 (FDIC's most recent release) and a couple hundred more were likely added in the last quarter of 2009.

Many jobless Americans are depleting their bank accounts in order to survive. The government reports a 9.8 percent unemployment rate but the real rate is closer to 17 percent. Millions of Americans have stopped looking for jobs or have taken early retirement, or part-time positions and no longer appear in the government statistics. This drain on wealth is putting an increasing number of banks at risk.

When businesses go under or reduce productivity, this too adds stress for banks. Many lending institutions find themselves saddled with confiscated homes worth less than what was owed on them. Add to this the cost of property taxes, upkeep and insurance, and it is easy to see why banks are struggling.

Government on every level depends on taxation to exist and carry out its duties. The above described scenarios result in less revenue. Economist John Williams, who publishes the website Shadow Government Statistics, shows the negative net worth of the federal government (total federal obligations based on GAAP) to exceed $70 trillion at the end of 2009. The Federal Government can print money or borrow from foreign powers to pay for whatever it chooses to do, but that drives the Dollar's value into the pits on international money markets.

State and local governments, however, do not have that option and must raise taxes, cut services or create astronomical deficits. The recently elected New Jersey Governor inherits more than $50 billion in debt (including obligatory interest payments) and will hardly be able to keep it from rising more.

Many people are already wondering how to prepare for the future, but when the full realization of what is happening dawns on them, there may be a mass run to withdraw money. Already, many are withdrawing their savings and investing in gold, real estate or commodities that can be exchanged later.

Gary Kah writes on his website, "I believe there is a growing possibility that a more serious financial collapse could occur between now and the end of 2010. I also believe that Barack Obama is "the anointed one" of the international elite and has been designated to take the United States into the new world order. As long as he is making unhindered progress toward their goals, they probably will continue to pump a measure of money into the US economy to create a "softer landing." However, if resistance to Obama increases to the point where he is no longer able to effectively push forward their (and his) agenda for world government, they could pull the financial plug and throw America into a crisis that makes our current situation seem benign. Globalization efforts by the international elite could soon be accelerated through a designed crisis if they fear Obama might lose his majority in the House and Senate in next year's election."

"Most of the pieces are in place and our economic sovereignty has, for all practical purposes, already been handed over to international interests. This took place, unbeknownst to the American public, through agreements made at the G-20 summit in London (last April) and was finalized at the summit in Pittsburgh (this September). As a result, a group known as the Financial Stability Board – composed of the top central bankers of the world – is now running the show."

"From now on the FSB will be making the most important financial decisions impacting the United States and the rest of the world. Six of the twelve national members on this board are from European countries. The United States, with a GDP three times that of the next largest G-20 member (Japan), will have only one vote."

The design of all this is to replace the dollar with a new international currency. At some time soon, very likely in 2010, all banking institutions will be closed and accounts frozen until the transition takes place. All old currency will be worthless unless exchanged for the new currency.

We witnessed this process while living in Europe. While Americans were worried about what would happen when computers switched to the year 2000, Europe was changing to the Euro. Two years later, the Dollar was on a par with the Euro, but it is presently worth 65 cents and still heading south.

This is why many are now investing in gold. If you actually have the gold in your possession, it may work for you, but most sellers of gold merely give certificates that can be devalued just like any currency.

I don't have any money to invest, but if I did, I would buy small farms or land that could be made into farms. Your kids would do well to learn how to till the ground, raise livestock, and can fruit and vegetables. In short, they should turn the clocks back a couple of centuries.

Back in 1963, the government prohibited prayers in schools. Those kids graduated and became the generation that got us where we are today. And now they and their offspring are blaming Christians!

BARGAIN DEFAULTS

January 4, 2010

The government's program for "mortgage loan modification" is a failure. To date, only a small percentage of home loans have been modified and of those that were, a high percentage still go into default and foreclose. Neither the Obama Administration, nor banks, nor Fannie Mae and Freddie Mac are offering acceptable modifications.

Thousands of homeowners whose equity is worth less than their mortgages will walk away from their homes even if they can afford to make mortgage payments. Here's why.

A few years ago, many Americans bought homes with an adjustable rate mortgage (ARM). If interest accrued, the mortgage balance rose while house equity fell. They could pay forever and never own the house. Or they can default.

By defaulting, they eliminate hundreds of thousands of debt immediately. Many who stop paying the mortgage live rent free for up to a year or more before they can be removed. There is no need to pay property taxes because the bank now owns the house.

Because it takes time to complete foreclosure, the lender sets an actual equity value, reduces the mortgage accordingly with a corrected 6 percent interest rate, hoping the homeowner will eventually honor the loan.

In a worst case scenario, a person's credit rating may suffer for a year or two, but if he or she pays down credit card debts in a short period of time, it will rebound.

GM, Chrysler, Merrill Lynch, Fannie Mae, Freddie Mac, and AIG have cost taxpayers dearly and Wall Street robbed them of retirement funds. Why should home buyers feel guilty about walking away from debts?

PORK-YOU-PAY'N

January 4, 2010

During his bid for the Presidency, Barack Obama promised repeatedly to crack down on the pork under his watch.

December 10, 2009, while Americans were busy preparing for the holidays, the House voted to pass a $1.1 TRILLION dollar Omnibus spending bill for 2010 (#3288) and the Senate passed it without amendments. Obama signed it into law on the 17th, increasing the national budget by 10%.

The $1.1 trillion bill has 5,244 earmarks of nearly $4 billion.

Some of the pork:
$30,000 for the Woodstock Film Festival Youth Initiative
$200,000 for a visitor's center in a Texas town with a population of about 8,000.
$150,000 for educational programs and exhibitions at the National Building Museum.
$400,000 for renovation of the Brooklyn Botanical Garden.
$150,000 for Theodore Roosevelt Inaugural Site Foundation exhibits, Buffalo, N.Y.
$500,000 for exhibits at National Mississippi River Museum and Aquarium, Dubuque, Iowa.
$200,000 for the Washington National Opera.
$30,000 for the Woodstock Film Festival Youth Initiative.
$2,700,000 to the Univ. of Nebraska Medical Center for surgical operations in space!
$200,000 for a visitor's center in Bastrop, Texas.
$700,000 for "Shrimp Industry Fishing Effort Research Continuation," Silver Spring, MD
$292,200 for the elimination of blight in Scranton, Pa.
$750,000 for exhibits at the World Food Prize Hall of Laureates in Iowa.
$1.600,000 for a tram between the Marshall Flight Center and Botanical Garden, Huntsville, AL
$655,000 for equipment at the Institute for Irritable Bowel Syndrome Research in Los Angeles.

Now Congress prepares to take up a new jobs-creation package, raising the debt ceiling by nearly $2 trillion. Four Republican lawmakers are demanding an audit of the $787 billion job-creation stimulus program already enacted following reports of exaggerated or inaccurate accounts of the number of jobs created.