gdp's Comments

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 23:55:22 +0000

Well said Bill...I appreciate the comments you have added. It is from the heart and well spoken. A great call to stay on purpose...thanks. There are good people of both party's...and we need to call them forth. I think an earlier article I have posted here is a good fit; An Agenda for Real Change: http://justanothercoverup.com/?p=597

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 23:06:59 +0000

In the National Review article you provided Murdock states in his opening paragraph that it was waterboarding Khalid Sheikh Mohammed (KSM) 183 times in March 2003 that “PREVENTED a bloody attack” on the Library Tower in LA “that could have murdered thousands.” Bush stated in a commencement speech to the US Coast Guard in May 2007: “…in 2002 was a plot by Khalid Sheikh Mohammad to repeat the destruction of 9/11 by sending operatives to hijack an airplane and fly into the tallest building on the West Coast.” http://georgewbush-whitehouse.archives.gov/news/r... A Bush White House Fact sheet released at the same time states: “In 2002, we broke up a plot by KSM to hijack an airplane and fly it into the tallest building on the West Coast. During a hearing at Guantanamo Bay two months ago, KSM stated that the intended target was the Library Tower in Los Angeles.” http://georgewbush-whitehouse.archives.gov/news/r... It looks like information gleaned from KSM from waterboarding in 2003 ONLY confirmed a plot the government already uncovered and broke up in 2002 but it did NOT PREVENT if from happening.

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 18:41:56 +0000

From the research I’ve been able to do so far defining the impact taxes cuts have on the economy is determined how they have been applied. http://www.taxpolicycenter.org/UploadedPDF/311088... Regardless of which party is deficit spending, there is an abundance of academic studies that indicate government deficit spending does not have a positive impact on the economy: http://www.heritage.org/Research/Budget/upload/bg... Every dollar the Fed injects into the economy must first be taxed or borrowed out of the economy itself. No new spending power is created. Money just trades hands from one group to another. If the government borrows from domestic investors those investors have less to invest or spend in the domestic economy. If they borrow from foreigners, the balance of payments is adjusted by equally reducing net exports leaving GDP unchanged. The alternative is the Fed could print all the money it needs. But that creates inflation (e.g. Zimbabwe) and debases the value of the dollar. http://www.heritage.org/Research/Budget/upload/bg...

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 18:41:24 +0000

No argument there - the government does not know what to do with…I’d add they do know how to spend far more then it takes in…that’s for sure…__I’d be interested in seeing the reports you have on the revenue history during the Reagan years. __According to a US Treasury Dept report the various Reagan’s tax bills combined had a mixed impact on revenue with the overall impact being negative…recapped here …I have found a variety of pro and con reports accessible here too: __http://en.wikipedia.org/wiki/Reaganomics__http://...

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 16:34:38 +0000

And more "expert" statements: July 21, 2008 Paulson: "Our banking system is a safe and a sound one." Sept 16, 2008 Paulson: The American people can remain confident in the "soundness and resilience in the American financial system." Sept 17, 2008 Paulson: "Don't Worry, the Banking System Is Sound" By Sept 22 as the Bush $700 billion bailout is pending before Congress Paulson warns: “We’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.” http://globaleconomicanalysis.blogspot.com/2008/0... In 2007 Bush says: "The world economy is strong and I happen to believe one of the main reasons why is because we remain strong." http://www.cnbc.com/id/19994900/ And again in 2008: http://www.reuters.com/article/politicsNews/idUSW...

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 16:34:14 +0000

Neither party is in any position to point fingers of blame and play the high and mighty. Over the last 30 plus years each have contributed to the crisis we now face. The sooner we ALL get that the better. Neither party offers any real solutions. Corporate lobbying and funding stalks the power trail from one side of the aisle to the other. Pulled from the NY Times article Harry provided, this says all we need to know on how messed up things are and we hear this all the time: ''The regulator has not only been outmanned, it has been outlobbied,'' said Rep Baker. We cannot rely on anything any of these yahoos say: ''These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis,'' said Rep B Frank (statement made in 2003).

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 15:15:49 +0000

Bill good write up…thanks! The jump in foreclosures in April is partially a result of financial firms having placed a moratorium on processing further foreclosures for the first quarter 2009…which expired at the end of March

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 15:10:39 +0000

The two biggest deficit spending presidents in recent history have been Reagan and GWBush. Borrowing to fund deficit spending is simply future taxes. Either way, we pay for it now, or pay for it later. Someday the debt will have to be paid or defaulted on. Since we owe foreigners, "they will demand returns that will take an increasing proportion of future tax revenues.” http://sprott.com/pdf/marketsataglance/03_2009.pd... http://www.epi.org/publications/entry/bp221/ (see page 9 Figure A) Wall Street is proving to be very self-reliant...is this the sort of self reliance you are referring to?

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 14:51:11 +0000

Harry: "I said water boarding saves lives. Water boarding is not torture. The Japanese and German version of water boarding was brutal and sadistic." What facts do you have to support your claim water boarding saves lives? Are you speaking from personal experience that it is not torture and how today's version compares to the Japanese and German version?

Justanothercoverup.com : As the Economy Worsens, A New America Is Emerging, Part 1

Mon, 18 May 2009 14:45:26 +0000

Excellent observations Oekoman...thanks!

Justanothercoverup.com : Free Trade Is A Misnomer; So-Called Protectionism Is A Matter of Self Survival

Fri, 13 Feb 2009 23:00:17 +0000

Consequently outsourcing has created a global wage arbitrage of wage disparities from 10 to 1, 20 -1, and 30 -1or more. U.S. workers are now unable to compete. This means one of two things; either the wages in the U.S will fall (which it is) along with the cost of living falling; or wages and the cost of living rising around the globe. It appears to be more of the former the less of the latter. Outsourcing will remain a fact of life for every American worker and for workers around the world now as long as the wage and benefits disparity exists and multi-national corporations can earn huge profits in the process. We are already seeing firms moving productions from one area now to another after having outsourced from the U.S. Dell for example recently announced the transfer of jobs from an Ireland facility to Poland due to cheaper labor there. No worker regardless of location is immune if their job today can be done cheaper by some else tomorrow in another part of the world.

Justanothercoverup.com : Free Trade Is A Misnomer; So-Called Protectionism Is A Matter of Self Survival

Fri, 13 Feb 2009 22:59:15 +0000

You raise a valid point and it is true that American consumers like most consumers’ prefer to get products in general cheaper if possible. There are multiple sides to every issue and outsourcing is no exception. The original impetus for American companies to outsource, especially with electronics and autos, was driven in part when Japanese imports hit our shores in the 1960’s and many American companies found they could not compete due to higher labor cost plus higher infrastructure cost here in the U.S. Our higher cost of labor was driven in part because of a higher cost of living as compared to other parts of the world, especially third world economies. Some of these companies were in a fight for survival.

Justanothercoverup.com : Free Trade Is A Misnomer; So-Called Protectionism Is A Matter of Self Survival

Thu, 12 Feb 2009 23:35:12 +0000

wjcormier: No argument with you on any of the points you have made. Please bear in mind I was not justifying American companies or U.S policy makers actions but pointing out the reality of globalization, which whether we like it or not, is here to stay. My point is that what we often refer to as “Chinese made” products is largely a misnomer. I wasn’t aware Wal-mart was the catalyst for outsourcing? I recall when they first were founded in 1962 or so they use to banner American Made and I’m not sure at what point that changed. Numerous companies, especially electronics companies, began outsourcing all about the same time in the late 1970’s and heavily in the 1980’ through the 1990's. I’d like to send you a couple of articles I've written for consideration for publishing on justanothercoverup…how do I send them to you?

Justanothercoverup.com : Free Trade Is A Misnomer; So-Called Protectionism Is A Matter of Self Survival

Thu, 12 Feb 2009 18:35:37 +0000

additional comments linked with the above: The lobbyist on behalf of American manufacturers very likely do not want provisions demanding buying American made products because it will directly impact these companies sales. Plus it is nearly impossible – it might be easier to find a needle in a hay stack - then find products actually made in America now days. Even our Christmas decorations and little Santa Claus’s are made in China. For American multi-national corporations it has never been about country first and never will unless it benefits their bottom line. They don't perceive the global marketplace and labor force in terms of borders or along political party lines. Their business models and strategies are based on a global economy and have been for years. Multi-national corporations have adapted to a new paradigm, in fact they created the paradigm. http://keepamericaatwork.com/_

Justanothercoverup.com : Free Trade Is A Misnomer; So-Called Protectionism Is A Matter of Self Survival

Thu, 12 Feb 2009 18:27:10 +0000

A major factor for the inclusion of “Buy American” provisions in the stimulus bill is quite simply because well over 70 percent and perhaps far more of these “Chinese made” products are actually American products that American manufacturers outsourced to China or elsewhere. To date I have been unable to find data that actually states what percent of American Branded products are made overseas and shipped back to the U.S. as “imports” but I suspect it is quite high. Go into any store; Target, Wal-mart, Home Depot – and do your own survey…LOOK not only where a product is made, but also WHOSE product it is…you will find that MOST are American Branded products; Apple I-pods, I-phones, computers - assembled in China; Weber BBQ’s - made in China, Smith Hawkins, - made in China; Fruit of the Loom underwear and clothing in general - made in China or elsewhere; Dell, HP, Intel, American branded electronics in general - made in China…these are not Chinese Branded products but American Brand products made by foreigners.