Showing posts with label wall street. Show all posts
Showing posts with label wall street. Show all posts

Saturday, February 20, 2021

February, 2021, Part 9, Political Class Insanity: Stupid Taxation Idea In New York, Minneapolis Politicians Go Around In A Big Circle, and Seattle Circles The Drain

It is the beginning of another month which means it is time again to review the latest political class insanity from the American political class. Each month it takes us multiple posts to cover the wasteful spending, incompetent government organizations and employees, government programs that usually make a problem worse than resolving it, inane and idiotic politician comments, etc.

To review past posts on this insanity and idiocy, just click on the first few posts in each month listed to the right of this page. After reviewing just a handful of these insanity posts we think you will agree that we are currently being served by the worst set of American politicians ever to hold office in our entire history.

1) We have always made the claim that most politicians in the American political class these days are inept and incapable of fixing the problems and issues facing Americans today, with many of the issues and problems being caused by the same politicians' incompetence. As a result, ordinary Americans are faced with the following challenges:

  • Politicians keep raising taxes and imposing new taxes in a vain attempt to fix the problems they create or make worse.
  • Politicians are today generally incapable of providing a very, very basic government function, protecting the lives and property of citizens, as crime and violence continually increase in certain states and cities across the country.
  • As a result of the previous two realities, we have shown how residents and businesses are fleeing the states that are ruled by the most inept politicians, searching for places where their lives, their property, their families, and their freedoms can be better sheltered and protected.

As a result, we have often discussed the reality that many politicians are currently leading their cities and states into financial death spirals. This will quite soon collapse the financial, economic, and societal aspects of the entities they rule over, with the most comprehensive review of these imminent collapse discussed in the following post:

https://loathemygovernment.blogspot.com/2020/11/which-city-and-which-state-will-go.html

In this post, we make the case that Chicago, New York, and San Francisco are the most likely American cities to financially, economically, and criminally collapse in the near future. But as a recent article by David Kamioner on the Lifezette website shows, Seattle is also a viable candidate for collapse, given how ineptly that city’s politicians have ruled that city:
  • Jason Rantz is a Seattle talk show host who has some very real insights to what is going on in Seattle.
  • Specifically: “Plagued by surging violent crime and uncontrollable homelessness, Seattle business owners have had it. They are getting out of town before their employees or customers are seriously injured. Residents are following suit. Seattleites are being chased by aggressive, mentally ill homeless people. Professionals are dodging human waste on sidewalks as they walk to business meetings. Antifa riots are still destroying storefronts, deadly overdoses are surging, and police are leaving the hamstrung department in historic numbers. Seattle is on life support, while the mayor and City Council remain silent on the worsening crisis…At Miller Park in Seattle’s Capitol Hill neighborhood, city officials refuse to intervene in a growing encampment. Used needles are strewn everywhere, with car break-ins as frequent as fights. It’s gotten so bad the Seattle Youth Soccer Association stopped using the park over safety concerns…Meanwhile, Seattle’s murder rate rose an astonishing 61% in 2020 – its highest number of homicides in 26 years. And with a surge in rapes – January already registered 29 cases – people are feeling scared.”
  • Local business owner, Joey Rodolfo, co-founder of Buki clothing has the same viewpoint: “There’s no consequences. And we have a city attorney that turns his back on business people and lets these people just run wild in the city and destroy property. Seattle, unfortunately, is circling the drain as we speak.”
  • Obviously, it is the opinion of these two Seattle residents that the local politicians and the government they operate have failed to provide that very basic government function, protecting lives and properties of innocent residents.
  • And as we have discussed in previous posts, people are not going to sit still while their lives, livelihoods, safety, and freedoms are stomped on by the ineptness of local politicians.
  • For example, Mr. Rodolfo is moving his business to the safer and better business environment of Arizona, robbing Seattle of tax revenue, jobs, and a future.
  • A Seattle CEO, Megan Gluth-Bohan, has had similar frightening experiences: “We had one female employee chased into a Starbucks. Business partners coming in for meetings were dodging human fecal matter and homeless people on the sidewalk… [An employee] had her driver’s side window down working the parking machine, and someone attempted to enter her car.”
  • Mason McDermott of Cartender: “These people, because they’re poverty stricken or drug addicts or whatever you wanna call it, [city leaders] are allowing them to get away with whatever they want to do.”
  • Simply Seattle owner, Jamie Munson: “A string of break-ins, bricks through our windows, people coming in just in broad daylight with big groups, taking armloads of gear. Hard to operate and keep our staff safe at the same time.”
Hard not to make the case that Seattle will be the next major U.S. city to collapse, financially, economically and morally when this is what law abiding citizens and businesses have to put up with. A failure of epic proportions caused and extended by another set of inept American politicians.

2) American politicians generally do not know how to solve problems. Their solution is usually just to raise taxes and throw money at a problem or an issue they don't understand. And if you do not understand the root causes of a problem, then just throwing money at the problem is usually not successful.

This malady is especially bad in the city and state of New York. Both the city and state have some of the highest tax rates and tax burdens in the country and yet this extremely high taxation level has resulted in the following reality:
  • Crime is rising especially in NYC.
  • The out-migration of residents and businesses from NYC and the state is growing dramatically with recent news reports indicating that moving companies in NYC could not find enough moving vans for the demand they were seeing.
  • The city and state have enormous unfunded future financial liabilities that are going to be coming due soon without the revenue streams that will be needed to fund those liabilities as they come due.
  • This shortfall on the liabilities will eventually result in higher and higher taxes, lower and lower quantity and quality of government services, all of which will drive more and more residents and businesses out of the city and state which will reduce the tax base and the financial death spiral is in place.
  • The state of New York not only needs untold billions of dollars for future financial liabilities but it is likely about $6 billion short of having enough tax revenue for the current fiscal year expenses.
  • But rather than address root causes of all the problems that face New Yorkers, politicians just want to raise taxes in a desperate attempt to resolve issues that they either caused or made worse and which they do not understand.
  • This was made apparent by the latest hairbrained scheme of New York state politicians and their new idea for a new tax:
  • They are considering cheating a new tax that would levy a fee on all stock trades that are executed by companies who reside in the state of New York.
  • While this may have worked 50 or a 100 years ago, when stock trades were actually done in person in the state with paper and pencil, today all stock trades are done digitally, meaning that a physical company presence doesn't have to be maintained in NYC and on Wall Street.
  • To avoid this additional tax, stock exchanges could just move their physical footprints to more tax friendly states such as Texas and Florida since stock trades now happen electronically and not physically in New York.
  • If the exchanges and Wall Street financial companies made such a move to avoid this new tax, the financial results would be a disaster for the city and state of New York.
  • The stock securities industry generates 18% of New York state tax collection and in NYC the industry is responsible for a whopping 60% of all city private sector wages.
  • And this tax impact would likely be passed onto to those ordinary citizens who are invested in the stock market with Vanguard estimating that “a financial transaction tax of 10 basis points would force retirement-account investors to work roughly 2½ years longer before retiring to reach the same savings goals they might have achieved without the tax.”
  • When France imposed a similar tax in 2012, a third of stock trading in French companies simply moved to London and elsewhere to avoid the tax.
  • Other countries have tried the same tax gimmick with bad, bad results such as Sweden did in 1984, a tax they later repealed as stock trading and the jobs and tax revenue associated with simple stock trading moved elsewhere.
More and more taxation is rarely the solution to societal and government issues as we have shown so many times. And yet, politicians like those in New York are so obsessed with raising taxes they rarely have any time or energy left over to actually understand root causes of problems and how to resolve them.

3) Speaking of having no clue how to understand root causes of problems and how to then attack the root causes, let’s return to the inept city politicians leading the city government in Minneapolis. As you know, Minneapolis was the center of violent rioting in the summer in the aftermath of the George Floyd death that was caused by some inept city police officers.

Rather than address the root causes of a few ill performing police officers, the city council and the politicians on it went over the edge and started the ill fated, stupid movement to “defund the police.” They immediately cut funding to the police department with the intention of creating a social counseling organization that would use counseling and negotiation and not police actions to curtail crime.

Of course, they did all these actions without having a plan on what would happen when they cut police resources or when they actually tried to use social workers and not police to defuse criminal situations.

As a result, crime of all types has skyrocketed in the city, so much so, that the city council then used tax money to hire private armed security guards to protect themselves. No social workers for them, they wanted hardcore armed guards for their own private protection, the protection of private citizens be damned.

We have discussed this insanity and inability of Minneapolis politicians to resolve issues and problems before. Let’s check in and see what has happened in light of defunding the police department in the city and the resultant dramatic jump up in crime:
  • Keep in mind that the politicians’ badmouthing and disrespecting of city police officers and the budget cuts reduced the city police force by about 25%, from 800 officers to about 600 officers.
  • Thus, no surprise that crime has gone up when you disrespect law enforcement officers and you reduce the human resources by 25%.
  • All of this has resulted in citizens and businesses complaining about the increased crime and danger to their safety.
  • Thus, the council has recently budgeted over $6 million to hire MORE police officers after having gone months and months bad mouthing the police force and stripping them of personnel and resources.
  • According to a local newspaper: “In the months since then, some residents have begged city leaders to hire additional officers, saying they’re waiting longer for responses to emergency calls amid a dramatic uptick in violent crime.”
  • As background, in 2020 there were 532 gunshot victims, more than twice as many in 2019 when there was no defunding of the police, carjacking cases are up a whopping 331%, and violent crime is up more than 25% on a year over year basis.
So the city politicians had a problem with a small group of police officers, tried to dismantle and discredit the whole police force, reduced police resources without having a replacement plan, which increased crime which required the city politicians to go back to the situation that they had originally had. Unfortunately, this circle to nowhere caused many city residents and businesses to suffer at the violent hand of criminals that could not be stopped with a much smaller police force.

That will do it for today. Another set of examples where politicians have no ability to understand root causes of problems, knee jerk react to a current crisis with no long term plan ready for action, and whose go to, losing move is to always raise taxes.

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:

Please visit the following sites for freedom:


Friday, June 28, 2013

By The Numbers: Government and Political Class Incompetence, Part 3 - Unhappy Americans, Happy IRS Party Goers, Retirement Insolvency, and More

This is a third in a series of posts we are doing that look at the state of our country “by the numbers.” Using only the most recent and trustworthy statistics and numbers, we are examining how badly the American class has managed our country’s finances, spending, freedom, and future. Only by understanding the underlying statistics, numbers and realities of the issues facing Americans, can we have any hope of efficiently and effectively resolving those problems.

Unfortunately, as we review the latest numbers and statistics, you will see that our politicians have dug such a hole for this country that it will be very difficult to get out of it in order to save our economy, our democracy, and our future. That is why the overarching theme and proposed solution in all of these post is the need to impose term limits on all Federal politicians. The long term, career politicians in Washington have created this mess and the associated depressing numbers that go with it, they no longer deserve the right to fix what the monster they themselves created.

The first two “by the numbers” posts can be accessed at:

http://www.loathemygovernment.blogspot.com/2013/06/by-numbers-government-and-political_26.html

http://www.loathemygovernment.blogspot.com/2013/06/by-numbers-govenrment-and-political.html

The following continues the “by the numbers ”analysis of our plight:

1) The Harris polling organization recently completed their regular “Happiness Index” poll and it turns out that Americans are not too happy these days, as reported by a June 1, 2013 UPI article:
  • The survey of 2,345 U.S. adults surveyed April 10-15, 2013 by Harris Interactive found certain groups, such as minorities, recent graduates and the disabled, trended downward in the last couple of years in their happiness level.
  • "Our happiness index offers insight into what's on the minds of Americans today and is a reflection of the state of affairs in our country," Regina Corso, senior vice president of the Harris Poll, said in a statement. "While the attitudes on the economy may be improving, we're seeing that this is not translating into an improvement in overall happiness."
  • Relative to the last happiness index poll that was taken in 2011, the latest happiness levels were especially low among the Hispanic-Americans.
  • Americans whose incomes were under $50,000 per year were less likely to qualify as very happy relative to 2011, dropping down from 33% to 29% among those earning less than $35,000, and from 35% to 32% among those earning between $35,000-$49,999.
  • Those 50 and older were more likely to be very happy than younger people.
  • Thirty-two percent of independents voters were less likely to be very happy than members of either the Democratic or Republican parties at 35% each.
Thus, we have both low happiness levels and happiness numbers that are trending downward, not a good sign.

2) Let’s face it, the IRS has been in the news a lot lately on how the organization illegally and immorally targeted political opponents of President Obama when it came to tax matters. But besides shredding the Constitution, the organization has also been very busy wasting taxpayer wealth in a gluttonous, straightforward, old fashioned manner, according to a June 3, 2013 online website article of the Wall Street Journal:
  • The IRS spent $50 million on conferences for employees just between 2010 and 2012.
  • A single conference in August, 2010 cost the agency a whopping $4 million.
  • The agency brought in $135,000 worth of speakers, including a “leadership through art” speaker for $17,000, and distributed baseball tickets and Presidential suites to employees which cost up to $3,500 per night per person.
Destruction of taxpayer wealth and citizens’ freedom, a double IRS whammy against America.

3) A recent report by the trustees that oversee the Social Security and Medicare programs had some very disturbing analyses of the future liabilities of the two organizations:
  • Under the current program parameters, the total long term financial liability of the Social Security program is about $23 TRILLION.
  • The long term financial liability of the Medicare program is about $43 TRILLION.
  • Thus, the total future financial liabilities of just these two government programs is about $66 TRILLION, the equivalent of about four years of the nation’s total GDP.
  • The per household share of the total liability is about $574,000 FOR EACH household.
Obviously, if you do a little bit of number crunching like we just did, you see that the future of these two programs is going to end badly. There is just not enough wealth to fund just these two government programs.

And by the way, as we have discussed many times before, taxing the wealthy in this country to cover this liability will not work. Even if you confiscated and liquidated the wealth of America’s wealthiest citizens, a true totalitarian move, it would not come anywhere close to paying off $66 TRILLION in liability.

And these government financial liabilities do not include the current liabilities of almost $17 TRILLION in our national debt today. And our politicians still have no solution or clue on how to resolve these dire numbers and trends.

4) Interesting number $1 billion, nice round number with lots of zeroes. $1 billion of taxpayer wealth could have been used to operate White House tours for over 1,000 years. $1 billion in taxpayer money could be used to give every American household about $9 dollars each, enough for a meal. $1 billion could have created a nice number of American jobs if invested domestically. Who knows how many more cancer research professionals or teachers, or social workers, etc. could be hired for $1 billion.

But we will never know since according to a Forbes article from April 4, 2013, the Obama administration is going to give a Russian helicopter manufacture, Rosoboronexport, $1 billion of American taxpayer money to provide helicopters to the Afghanistan armed forces once the U.S. pulls out most of its troops. The administration took this action on this number even though:
  • The National Defense Authorization Act for 2013 expressly prohibits the use of funds to enter into any contracts or agreements with Rosoboronexport.
  • During consideration of the Department of Defense Appropriations Act, 2013, the House of Representatives overwhelmingly approved an amendment prohibiting further contracts with Rosoboronexport by a vote of 407-5.
  • A strongly worded letter to the administration from ten members of congress pointed the illegality od doing this deal.
  • There are perfectly good helicopter manufacturers within the U.S. that should have been given the opportunity to win this contract and should have had the inside track to do so.
  • However, this was a no bid contract so they never even got the chance.
$1 billion, a nice round number to flush down the toilet.

So let’s review. Americans are not happy because the numbers in their lives (high unemployment numbers, declining family wealth numbers, high national debt numbers that their family today and in the future will have to pay for, etc.) are not good.

IRS employees are happy because they get to spend millions of dollars on themselves on lavish conferences despite crushing the freedom of speech of Obama’s political opponents.

America’s retirees are not happy since the Federal government and political class have not planned to financially care for the retirement income and medical needs of older Americans.

At least one Russian helicopter manufacturer is happy, and $1 billion richer via the American taxpayer.

Seems like the wrong people are happy and the right people are unhappy. All the more reason to get term limits put in place for all Federal politicians and find people that can reverse the trend of unhappiness and negative numbers and statistics concerning ordinary American citizens that do not work for the IRS or a Russian helicopter company.

Our final “by the numbers” adventure will conclude tomorrow with a devastating look at 40 statistics that conclusively prove that the current members of the American political class have us on a statistical trend that is going to end badly for all of us unless we start doing things dramatically different within our political processes. And we start by dumping out all of the current incumbents in Washington that put us on this downward spiral.

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:

www.loathemygovernment.com

It is also available online at Amazon and Barnes and Noble. Please pass our message of freedom onward. Let your friends and family know about our websites and blogs, ask your library to carry the book, and respect freedom for both yourselves and others everyday.

Please visit the following sites for freedom:

http://www.reason.com/
http://www.cato.org
http://www.robertringer.com/
http://realpolichick.blogspot.com
http://www.youtube.com/watch?v=08j0sYUOb5w 

Friday, January 11, 2013

The Selling and Buying Of America, Part 3: The Gangs That Control America

This is the third post on the topic and insult of the “Buying and Selling Of America.” Two days ago we reviewed the recent history of politicians helping themselves to taxpayer wealth to enrich themselves, enrich their families and friends, and continuing to finance their reelection campaigns with taxpayer dollars.

Yesterday, we reviewed the disgrace of the Washington political class asking for/demanding citizens and businesses contribute to Obama’s inauguration festivities and parties and how taxpayers will likely pay over $150 million to support the inauguration parties for the politicians in D.C.

Today’s examples come from a new book written by Jeffrey Sachs, a highly respected economist from Columbia University. The book is titled "The Price of Civilisation" and Mr. Sachs says the US economy is caught in a feedback loop: ''Corporate wealth translates into political power through campaign financing, corporate lobbying and the revolving door of jobs between government and industry; and political power translates into further wealth through tax cuts, deregulation and sweetheart contracts between government and industry. Wealth begets power, and power begets wealth,''

Well said. In about fifty words Mr. Sachs has summarized how the buying and selling of America works. We no longer live in a democracy, we live below a tier of elitists that trade taxpayer wealth and freedoms for their own reward, greed, and enrichment. That is why no major issue ever gets resolved in this country. There are powers and “gangs” that do not want them solved, it would upset the cozy arrangements that these elitists have established.

I use the word “gangs” because that is what Mr. Sachs calls them, as outlined in an article by Ross Gittins of The Sydney Morning Herald. Mr. Sachs categorizes the gangs as follows:

1) The first gang is the military-industrial complex, i.e. the relationship between the Pentagon and the private businesses and contractors that live off of its massive annual budget. Here are is a famous quote from President Eisenhower from over fifty years ago: "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists, and will persist."

As a result, Sachs concludes that “America has been condemned to militarization, useless wars and fiscal waste on a scale of many tens of trillions of dollars since then.'' I would say he has gotten that right:
  • Useless wars: Vietnam, Granada, Yugoslovia, Lebanon, Iraq I, Iraq, II, Afghanistan, and probably a few I have forgotten.
  • Fiscal waste: you cannot spend over $600 billion a year on a world wide operation and not have fiscal waste. Rather than run down the many examples that we could list, let me refer to our most popular blog post ever regarding the Navy nonchalantly wasting over $300 million of taxpayer wealth:
http://loathemygovernment.blogspot.com/2011/07/us-navy-ships-for-sale-cheap-never-used.html

Additionally, if you go to the website www.simplywired.com you will find that the average salary for an individual defense contractor is about $64,000. Since the average American household annual income is just under $50,000, you begin to see why defense contractors want the status quo to be maintained.

2) The second gang, according to Sachs, the Wall Street-Washington complex, a complex which has steered the nation’s financial system towards monopoly control by just a handful of politically connected Wall Street firms including Goldman Sachs, JPMorgan Chase, Citigroup, Morgan Stanley and a few other financial firms. Despite the financial meltdown of the Great Recession, despite the useless, but long and cumbersome, Dodd-Frank financial industry reform legislation, despite the public’s disgust with the banking industry in general, these few banks control as much or more of the financial industry than they did five years ago. These few banks control over 50% of banking deposits, banking assets, and just about any other measure of banking value.

How were they able to do this? Let’s look at just two examples of how the “gang” works:

- Congressman Barney Frank used to be a powerful chairman of a House banking committee. His committee was supposed to oversee and make sure banks did not get out of control. But how motivated was he in this role when:
  • According to an October 22, 2010 article in the Boston Herald by Dave Wedge, Massachusetts Congressman, Barney Frank, accepted $40,000 in reelection campaign donations from financial institutions that received bailout/TARP from the government. Two things make this action so despicable. First, Congressman Frank was at the center of the whole taxpayer bank bailout activity since he was chairman of the lead House of Representatives committee that was determining which institutions got how much taxpayer money, if any.
  • Second, in 2009, Mr. Frank told the Washington publication, Roll Call, that he "won't take any PAC money from banks that took TARP funds, nor would I take it from the top executive." However, according to Mr. Wedge's research he did not fulfill this statement.
  • According to Mr Frank's own campaign disclosure reports, he accepted a campaign donation of $7,000 from top executives from Bank Of America. Bank of America received $45 billion in taxpayer bailout funds."
  • He received $5,000 for Bank Of America's Federal PAC fund.
  • He received $10,000 from the Bank Of New York Mellon Corporation which received $3 billion from the bailout fund.
  • He received $2,000 from the Financial Services Roundtable PAC that includes representatives from TARP recipients Bank of America, JP Morgan, Chase, and Wells Fargo.
  • He received $1,000 from U.S. Bancorp's PAC which received $6 billion in bailout funds.
  • These details and further discussion of “gangster politics” can be found at:
http://loathemygovernment.blogspot.com/2010/10/conflicts-of-interest-and-lies-that-are.html

Let’s move on to another example, this one where Congressional members got sweetheart mortgage deals from Countrywide Financial, the poster child for the bad  mortgageloans that were the underlying cause of the Great Recession. The following members of Congress and their senior staffs received this preferential treatment, as outlined in an Associated Press report:
  1. Former Senate Banking Committee Chairman Christopher Dodd, D-Conn.
  2. Senate Budget Committee Chairman Kent Conrad, D-N.D.
  3. Mary Jane Collipriest, who was communications director for former Sen. Robert Bennett, R-Utah, then a member of the Banking Committee.
  4. The AP report said Dodd referred Collipriest to Countrywide's VIP unit. Dodd, when commenting on his own loans, has said he was unaware of the discount program.
  5. Rep. Howard "Buck" McKeon, R-Calif., chairman of the House Armed Services Committee.
  6. Rep. Edolphus Towns, D-N.Y., former chairman of the Oversight Committee. Towns issued the first subpoena to Bank of America for Countrywide documents, and current Chairman Darrell Issa, R-Calif., subpoenaed more documents. The committee said that in responding to the Towns subpoena, Bank of America left out documents related to Towns' loan.
  7. Rep. Elton Gallegly, R-Calif.
  8. Top staff members of the House Financial Services Committee.
  9. A staff member of Rep. Ruben Hinojosa, D-Texas, a member of the Financial Services Committee.
  10. Former Rep. Tom Campbell, R-Calif.
  11. Former Housing and Urban Development SecretariesAlphonso Jackson and Henry Cisneros; and former Health and Human Services Secretary Donna Shalala. The VIP unit processed Cisneros' loan after he joined Fannie's board of directors
  12. Former Fannie Mae heads James Johnson, Daniel Mudd and Franklin Raines. Countrywide took a loss on Mudd's loan. Fannie employees were the most frequent recipients of VIP loans. Johnson received a discount after Mozilo waived problems with his credit rating.
Details of this corruption and more can be found at the following link:

http://loathemygovernment.blogspot.com/2012/07/washington-corruption-train-keeps-on.html

Still do not believe the Wall Street/Washington gang exists? Consider the following graphic that shows the incest that exists between the Federal government and Wall Street banks (double click on the picture for a larger view):















The overlap is the incest of the government/Wall Street gang.
Maybe President Wilson had it right about a hundred years ago when he said: "The government, which was designed for the people, has got into the hands of the bosses and their employers, the special interests. An invisible empire has been set up above the forms of democracy."

Are you beginning to see how the feedback loop works? Corporations support incumbent politicians via financial donations and once back in office, incumbent politicians cut special deals for those same donors and their businesses and interests. Everybody gets wealthy and secure, the gang and their loop keeps rolling along, an invisible empire above the forms of democracy.

Unfortunately, it is all subsidized by American taxpayers, who are not getting wealthy and secure. In fact, if anything, they are getting less secure (high, chronic unemployment) and declining household income and wealth (less secure). That is why there is no urgency on any politicians to upset the process since they do not pay for the process, we do. And that is why our national debt is $16.4 TRILLION and climbing, and cuts in government spending would make the gang members less wealthy and less secure even if it helped save the country’s economy and democracy.

That’s enough bad news for today. We will continue with the selling and buying of America tomorrow when we reveal the identities of the last two gangs and provide some common sense suggestions on how to bring the gangs down, restore our freedom and bring some sanity to our out-of-control government spending and get it under control. In the meantime, see if you can name the other two gangs.

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at:

www.loathemygovernment.com

It is also available online at Amazon and Barnes and Noble. Please pass our message of freedom onward. Let your friends and family know about our websites and blogs, ask your library to carry the book, and respect freedom for both yourselves and
others everyday.

Please visit the following sites for freedom:

http://www.reason.com/
http://www.cato.org/
http://www.robertringer.com/
http://realpolichick.blogspot.com
http://www.youtube.com/watch?v=08j0sYUOb5w