Beat And Battered

Jones, originally I was gone post one of two essays I found on my jump drive today. The first is called Scorn of Lady Macbeth (about women using kids as pawns in relationship) and the second is called Work hard and don’t make excuses (about demise of work ethic in youngins today). Maybe next week, but I had to detour for a few based of an astute comment left on the prior post by my folk Curious. His comment reads as follows:

“I had to look up wt the Glass Steagall Act was and what effects it may or may not have had in the banking industry. As a Liberterian I would have thought that you would have approved of repeal of the Act. Doesn’t this mean that there is less government interference and therefore more chance to make money by the industry and less chance of losing money on waste and regulation?”

Yes it is true; I am a Libertarian, a civil libertarian. But it is also true that I do feel as I do about the repealing of the Glass-Stegall Act. How can this be since I am against government intervention and protecting me from myself? It is simple. When I read the constitution of these United States of America, especially the Preamble, which learned as a child looking at Schoolhouse Rock on Saturdays in between cartoons, the first thing that I recall is the phrase WE THE PEOPLE.

This is very important to me for it “ordains and establishes” a foundation for my civil liberties as an individual as well as a self professed civil libertarian. Especially as implied via the 14^th amendment for I consider myself a sovereign citizen. I do not believe nor do I accept that institutions, groups and last but not least – corporations, are ordained as such under the constitution. Consequently I do not equate the rights of corporations as that of or equal to those of individual citizens, I just don’t and folk don’t get down like that with respect to dialectical ruminations of the constitutional sort. For again, in the preamble to the constitution, it reads WE THE PEOPLE and not WE THE CORPORATION. Curious, hope that answers your query. Great comment as usual.

Addendum: The song today is Citizen Sovereign – corner of my eye (1996) by savagebeastmonsta-sameblakmuthafucas - us. My interpretation and application of what the 14^th amendment is to me if yawl aint ever read it. For as I have written before, Ignorance and freedom is incompatible. Enjoy

PS – Buy Fast and Gamin’ Today.

CORPERATION, 14^th amendment, Libertarian, liberty, Glass-Stegall Act, constitution, savagebeastmonsta-sameblakmuthafucas, Preamble, Schoolhouse Rock

Point of order: Sorry for delay in post, forgot I was still a scientist and had two journal articles to proof and correct for Health Education Journal and Global Public Health

Now since I was finally able to post Recess – is- on and PP (which were written in April), back on the grind, which you know in most cases means loot. I am kind of frustrated with America, I mean we aint got what it takes it seems anymore. I can understand how K street gets politicians in a bind but I can’t understand why regular folk don’t see why things are the way they are economically.

We are big on crying and asking folks to do for us, but we never have a good understanding of first what needs to be done or even what or how serious the problem is. Come this November, after the general election, well really before, I hope we can come to an understanding of the aforementioned.

This country has not been in this bad of shape economically since the 1920s and 1030s. I’m sure some will disagree with me, but this is just my opinion. Right now, at least based on numbers from two years go; our domestic financial debt was more than 14 trillion dollars. Fourteen trillion. Today I suspect it is maybe 4 or 5 trillion more, but there aren’t any real numbers available, just estimates so I made my own.

And although we talk about the housing market as being a major contributor to this problem as well as multiple wars, the truth is that the financial sector is mostly to blame, along with republican and democratic leadership at the legislative and executive level. For as I said before, with regulatory constraints basically removed, this created an environment for this particular sector of our economy to go buck wild. Bill Clinton repealed the Glass –Stegall Act and bam.

Long time ago, there were regulated fees for Credit Cards for example, now they can make up fees and even charge you for paying on time or even if you pay off your monthly balance. Don’t even throw in the outrageous and wide ranging interest rates credit card companies (the financial sector) can charge, that is a whole ‘nother story. But to sum it all up, this is where the problem lies. We didn’t have this type of concern when America made stuff and had a strong manufacturing base. Since the financial sector has replaced manufacturing as our largest industry, our national debt has sky rocketed. This sector alone accounts for more than 30% of all of our national debt. Namely as a result of what is called Securitization or what can be called collateralizing debt obligation

Like I said back in the 20s and 30s when we saw similar problems, the national debt was about 250% of our gross domestic product. Today it is about 350%. What does this mean, well in simple terms, maybe a 10% reduction in the values of our houses for those of us who own one, commodity inflation (as mentioned in a prior post) and a 500 trillion dollar debt, which will eventually come back to bite us in the ass one day. I think that is one of the reasons I don’t have an ATM card. Never had one ever. So they next time you go to an ATM machine, just remember that the $3.00 they charge you to use it, is just adding to our national debt. Three cheers for the financial sector. Hip Hip Hooray.

Addendum: Love the fact folks can come in shop with dogs and kids, lay up and drink wine for free – they always end up buying stuff.