Monday, December 29, 2008
Obama's Tax Cut for Middle
Obama adviser: Slowing economy won’t halt tax cuts
A top adviser to President-elect Barack Obama said Sunday that the country's slowing economy won't keep the new administration from fulfilling its plans for a middle-class tax cut.
"We feel it's important that middle-class people get some relief now," Obama adviser David Axelrod said.
Middle-class tax cuts will be part of the new administration's stimulus plan, Axelrod said. "This package will include a portion of that tax cut that will become part of the permanent tax cut that he'll have in his upcoming budget," Axelrod said.
Read the story
Sunday, December 28, 2008
The Economy, What Happened?
Financial Meltdown 101
From 1982 to 2000, the U.S. stock market went on the longest bull run ever, as share prices rose to dizzying heights. In the late 1990s, a combination of factors, which included the Federal Reserve lowering interest rates, created a huge price bubble in Internet stocks. A speculative bubble occurs when price far outstrips the fundamental worth of the asset. Bubbles have occurred in everything from real estate, stocks and railroads to tulips, beanie babies and comic books. As with all bubbles, it took more and more money to make a return*. This led to the Internet bubble popping in March 2000.
During this time of market mania, the Fed guts the Glass-Steagall Act, which was enacted during the Great Depression to prevent the type of banking activity that led to the 1929 stock market crash. In 1996, the Fed allows regular banks to become heavily involved in investment banking, which opens the door to conflicts of interest in banks pushing sketchy financial products on customers who poorly understood the risks. In 1999, under intense pressure from financial firms, Congress overturns Glass-Steagall, allowing banks to engage in any sort of activity from underwriting insurance to investment banking to commercial banking (such as holding deposits).
*For instance, if you purchased 100 shares of Apple at $10 a share and it rose to $20, it cost $1,000 to make $1,000 profit (a 100 percent return), but if the shares were $100 each and rose to $110, it would cost $10,000 to make $1,000 profit (a 10 percent return -- and the loss potential would be much greater, too.
*Shorthand for any mortgage originator.
In the originate-to-distribute model, the banks sell the mortgage to third parties, turning the loans into a commodity like widgets on a conveyor belt. By selling the loan, the bank frees up its capital so it can turn around and finance a new mortgage. Thus, the banks have an incentive to sell (or distribute) mortgages fast so they can recoup the funds to sell more mortgages. By selling the loan, the bank also distributes the risk of default to others.
Saturday, December 27, 2008
Bush, an Un-Escapable Legacy?
Bush Pushes Midnight Regulations, Many To Last
George W. Bush is on pace to impose more last-minute changes to federal rules than any president in history. Many consider Bush's "midnight regulations" to be a parting gift to big industry and against the greater public interest. Discussions are already underway to see if the next Congress can undo what the Bush White House has done.
Friday, December 26, 2008
Winning with Viagra
How to Win Friends and Influence People the American Way!
CIA using Viagra to Change This:
CIA using Viagra to Change This:
Into This:
The Afghan chieftain looked older than his 60-odd years, and his bearded face bore the creases of a man burdened with duties as tribal patriarch and husband to four younger women. His visitor, a CIA officer, saw an opportunity, and reached into his bag for a small gift.
Four blue pills. Viagra.
"Take one of these. You'll love it," the officer said. Compliments of Uncle Sam.
The enticement worked. The officer, who described the encounter, returned four days later to an enthusiastic reception. The grinning chief offered up a bonanza of information about Taliban movements and supply routes — followed by a request for more pills.
Read More
Ending the year with Toxic Disaster
But at Least We Get to have Cheap Electricity!
So Much for Clean Coal...
 J. Miles Carey/Knoxville News Sentinel, via Associated Press Fifteen homes like this one in Harriman, Tenn., were flooded with fly ash sludge on Monday after a storage pond wall broke. |
An environmental disaster of epic proportions has occurred in Tennessee. Monday night, 2.6 million cubic yards (the equivalent of 525.2 million gallons, 48 times more than the Exxon Valdez spill by volume) of coal ash sludge broke through a dike of a 40-acre holding pond at TVA's Kingston coal-fired power plant covering 400 acres up to six feet deep, damaging 12 homes and wrecking a train.
Read the story
What may be the nation’s largest spill of coal ash lay thick and largely untouched over hundreds of acres of land and waterways Wednesday after a dam broke this week, as officials and environmentalists argued over its potential toxicity.
Federal studies have long shown coal ash to contain significant quantities of heavy metals like arsenic, lead and selenium, which can cause cancer and neurological problems. But with no official word on the dangers of the sludge in Tennessee, displaced residents spent Christmas Eve worried about their health and their property, and wondering what to do.
Read the story
More on this disaster from Tennessee
Thursday, December 25, 2008
The Birth of Christ
Matthew 1:18-25
[18] Now the birth of Jesus Christ was on this wise: When as his mother Mary was espoused to Joseph, before they came together, she was found with child of the Holy Ghost.
[19] Then Joseph her husband, being a just man, and not willing to make her a publick example, was minded to put her away privily.
[20] But while he thought on these things, behold, the angel of the Lord appeared unto him in a dream, saying, Joseph, thou son of David, fear not to take unto thee Mary thy wife: for that which is conceived in her is of the Holy Ghost.
[21] And she shall bring forth a son, and thou shalt call his name JESUS: for he shall save his people from their sins.
[22] Now all this was done, that it might be fulfilled which was spoken of the Lord by the prophet, saying,
[23] Behold, a virgin shall be with child, and shall bring forth a son, and they shall call his name Emmanuel, which being interpreted is, God with us.
[24] Then Joseph being raised from sleep did as the angel of the Lord had bidden him, and took unto him his wife:
[25] And knew her not till she had brought forth her firstborn son: and he called his name JESUS.
Luke 2:1-7
[1] And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
[2] (And this taxing was first made when Cyrenius was governor of Syria.)
[3] And all went to be taxed, every one into his own city.
[4] And Joseph also went up from Galilee, out of the city of Nazareth, into Judaea, unto the city of David, which is called Bethlehem; (because he was of the house and lineage of David:)
[5] To be taxed with Mary his espoused wife, being great with child.
[6] And so it was, that, while they were there, the days were accomplished that she should be delivered.
[7] And she brought forth her firstborn son, and wrapped him in swaddling clothes, and laid him in a manger; because there was no room for them in the inn.
Book of Luke: Chapter 2:1-20
King James Version
[1] And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
[2] (And this taxing was first made when Cyrenius was governor of Syria.)
[3] And all went to be taxed, every one into his own city.
[4] And Joseph also went up from Galilee, out of the city of Nazareth, into Judaea, unto the city of David, which is called Bethlehem; (because he was of the house and lineage of David:)
[5] To be taxed with Mary his espoused wife, being great with child.
[6] And so it was, that, while they were there, the days were accomplished that she should be delivered.
[7] And she brought forth her firstborn son, and wrapped him in swaddling clothes, and laid him in a manger; because there was no room for them in the inn.
[8] And there were in the same country shepherds abiding in the field, keeping watch over their flock by night.
[9] And, lo, the angel of the Lord came upon them, and the glory of the Lord shone round about them: and they were sore afraid.
[10] And the angel said unto them, Fear not: for, behold, I bring you good tidings of great joy, which shall be to all people.
[11] For unto you is born this day in the city of David a Saviour, which is Christ the Lord.
[12] And this shall be a sign unto you; Ye shall find the babe wrapped in swaddling clothes, lying in a manger.
[13] And suddenly there was with the angel a multitude of the heavenly host praising God, and saying,
[14] Glory to God in the highest, and on earth peace, good will toward men.
[15] And it came to pass, as the angels were gone away from them into heaven, the shepherds said one to another, Let us now go even unto Bethlehem, and see this thing which is come to pass, which the Lord hath made known unto us.
[16] And they came with haste, and found Mary, and Joseph, and the babe lying in a manger.
[17] And when they had seen it, they made known abroad the saying which was told them concerning this child.
[18] And all they that heard it wondered at those things which were told them by the shepherds.
[19] But Mary kept all these things, and pondered them in her heart.
[20] And the shepherds returned, glorifying and praising God for all the things that they had heard and seen, as it was told unto them.
Book of Matthew: Chapter 2:1-23
King James Version
[1] Now when Jesus was born in Bethlehem of Judaea in the days of Herod the king, behold, there came wise men from the east to Jerusalem,
[2] Saying, Where is he that is born King of the Jews? for we have seen his star in the east, and are come to worship him.
[3] When Herod the king had heard these things, he was troubled, and all Jerusalem with him.
[4] And when he had gathered all the chief priests and scribes of the people together, he demanded of them where Christ should be born.
[5] And they said unto him, In Bethlehem of Judaea: for thus it is written by the prophet,
[6] And thou Bethlehem, in the land of Juda, art not the least among the princes of Juda: for out of thee shall come a Governor, that shall rule my people Israel.
[7] Then Herod, when he had privily called the wise men, inquired of them diligently what time the star appeared.
[8] And he sent them to Bethlehem, and said, Go and search diligently for the young child; and when ye have found him, bring me word again, that I may come and worship him also.
[9] When they had heard the king, they departed; and, lo, the star, which they saw in the east, went before them, till it came and stood over where the young child was.
[10] When they saw the star, they rejoiced with exceeding great joy.
[11] And when they were come into the house, they saw the young child with Mary his mother, and fell down, and worshipped him: and when they had opened their treasures, they presented unto him gifts; gold, and frankincense, and myrrh.
[12] And being warned of God in a dream that they should not return to Herod, they departed into their own country another way.
[13] And when they were departed, behold, the angel of the Lord appeareth to Joseph in a dream, saying, Arise, and take the young child and his mother, and flee into Egypt, and be thou there until I bring thee word: for Herod will seek the young child to destroy him.
[14] When he arose, he took the young child and his mother by night, and departed into Egypt:
[15] And was there until the death of Herod: that it might be fulfilled which was spoken of the Lord by the prophet, saying, Out of Egypt have I called my son.
[16] Then Herod, when he saw that he was mocked of the wise men, was exceeding wroth, and sent forth, and slew all the children that were in Bethlehem, and in all the coasts thereof, from two years old and under, according to the time which he had diligently inquired of the wise men.
[17] Then was fulfilled that which was spoken by Jeremy the prophet, saying,
[18] In Rama was there a voice heard, lamentation, and weeping, and great mourning, Rachel weeping for her children, and would not be comforted, because they are not.
[19] But when Herod was dead, behold, an angel of the Lord appeareth in a dream to Joseph in Egypt,
[20] Saying, Arise, and take the young child and his mother, and go into the land of Israel: for they are dead which sought the young child's life.
[21] And he arose, and took the young child and his mother, and came into the land of Israel.
[22] But when he heard that Archelaus did reign in Judaea in the room of his father Herod, he was afraid to go thither: notwithstanding, being warned of God in a dream, he turned aside into the parts of Galilee:
[23] And he came and dwelt in a city called Nazareth: that it might be fulfilled which was spoken by the prophets, He shall be called a Nazarene.
John 3:16,17
For God so loved the world that He gave His only begotten Son, that whoever believes in Him should not perish but have everlasting life. For God did not send His Son into the world to condemn the world, but that the world through Him might be saved.
[18] Now the birth of Jesus Christ was on this wise: When as his mother Mary was espoused to Joseph, before they came together, she was found with child of the Holy Ghost.
[19] Then Joseph her husband, being a just man, and not willing to make her a publick example, was minded to put her away privily.
[20] But while he thought on these things, behold, the angel of the Lord appeared unto him in a dream, saying, Joseph, thou son of David, fear not to take unto thee Mary thy wife: for that which is conceived in her is of the Holy Ghost.
[21] And she shall bring forth a son, and thou shalt call his name JESUS: for he shall save his people from their sins.
[22] Now all this was done, that it might be fulfilled which was spoken of the Lord by the prophet, saying,
[23] Behold, a virgin shall be with child, and shall bring forth a son, and they shall call his name Emmanuel, which being interpreted is, God with us.
[24] Then Joseph being raised from sleep did as the angel of the Lord had bidden him, and took unto him his wife:
[25] And knew her not till she had brought forth her firstborn son: and he called his name JESUS.
Luke 2:1-7
[1] And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
[2] (And this taxing was first made when Cyrenius was governor of Syria.)
[3] And all went to be taxed, every one into his own city.
[4] And Joseph also went up from Galilee, out of the city of Nazareth, into Judaea, unto the city of David, which is called Bethlehem; (because he was of the house and lineage of David:)
[5] To be taxed with Mary his espoused wife, being great with child.
[6] And so it was, that, while they were there, the days were accomplished that she should be delivered.
[7] And she brought forth her firstborn son, and wrapped him in swaddling clothes, and laid him in a manger; because there was no room for them in the inn.
Book of Luke: Chapter 2:1-20
King James Version
[1] And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
[2] (And this taxing was first made when Cyrenius was governor of Syria.)
[3] And all went to be taxed, every one into his own city.
[4] And Joseph also went up from Galilee, out of the city of Nazareth, into Judaea, unto the city of David, which is called Bethlehem; (because he was of the house and lineage of David:)
[5] To be taxed with Mary his espoused wife, being great with child.
[6] And so it was, that, while they were there, the days were accomplished that she should be delivered.
[7] And she brought forth her firstborn son, and wrapped him in swaddling clothes, and laid him in a manger; because there was no room for them in the inn.
[8] And there were in the same country shepherds abiding in the field, keeping watch over their flock by night.
[9] And, lo, the angel of the Lord came upon them, and the glory of the Lord shone round about them: and they were sore afraid.
[10] And the angel said unto them, Fear not: for, behold, I bring you good tidings of great joy, which shall be to all people.
[11] For unto you is born this day in the city of David a Saviour, which is Christ the Lord.
[12] And this shall be a sign unto you; Ye shall find the babe wrapped in swaddling clothes, lying in a manger.
[13] And suddenly there was with the angel a multitude of the heavenly host praising God, and saying,
[14] Glory to God in the highest, and on earth peace, good will toward men.
[15] And it came to pass, as the angels were gone away from them into heaven, the shepherds said one to another, Let us now go even unto Bethlehem, and see this thing which is come to pass, which the Lord hath made known unto us.
[16] And they came with haste, and found Mary, and Joseph, and the babe lying in a manger.
[17] And when they had seen it, they made known abroad the saying which was told them concerning this child.
[18] And all they that heard it wondered at those things which were told them by the shepherds.
[19] But Mary kept all these things, and pondered them in her heart.
[20] And the shepherds returned, glorifying and praising God for all the things that they had heard and seen, as it was told unto them.
Book of Matthew: Chapter 2:1-23
King James Version
[1] Now when Jesus was born in Bethlehem of Judaea in the days of Herod the king, behold, there came wise men from the east to Jerusalem,
[2] Saying, Where is he that is born King of the Jews? for we have seen his star in the east, and are come to worship him.
[3] When Herod the king had heard these things, he was troubled, and all Jerusalem with him.
[4] And when he had gathered all the chief priests and scribes of the people together, he demanded of them where Christ should be born.
[5] And they said unto him, In Bethlehem of Judaea: for thus it is written by the prophet,
[6] And thou Bethlehem, in the land of Juda, art not the least among the princes of Juda: for out of thee shall come a Governor, that shall rule my people Israel.
[7] Then Herod, when he had privily called the wise men, inquired of them diligently what time the star appeared.
[8] And he sent them to Bethlehem, and said, Go and search diligently for the young child; and when ye have found him, bring me word again, that I may come and worship him also.
[9] When they had heard the king, they departed; and, lo, the star, which they saw in the east, went before them, till it came and stood over where the young child was.
[10] When they saw the star, they rejoiced with exceeding great joy.
[11] And when they were come into the house, they saw the young child with Mary his mother, and fell down, and worshipped him: and when they had opened their treasures, they presented unto him gifts; gold, and frankincense, and myrrh.
[12] And being warned of God in a dream that they should not return to Herod, they departed into their own country another way.
[13] And when they were departed, behold, the angel of the Lord appeareth to Joseph in a dream, saying, Arise, and take the young child and his mother, and flee into Egypt, and be thou there until I bring thee word: for Herod will seek the young child to destroy him.
[14] When he arose, he took the young child and his mother by night, and departed into Egypt:
[15] And was there until the death of Herod: that it might be fulfilled which was spoken of the Lord by the prophet, saying, Out of Egypt have I called my son.
[16] Then Herod, when he saw that he was mocked of the wise men, was exceeding wroth, and sent forth, and slew all the children that were in Bethlehem, and in all the coasts thereof, from two years old and under, according to the time which he had diligently inquired of the wise men.
[17] Then was fulfilled that which was spoken by Jeremy the prophet, saying,
[18] In Rama was there a voice heard, lamentation, and weeping, and great mourning, Rachel weeping for her children, and would not be comforted, because they are not.
[19] But when Herod was dead, behold, an angel of the Lord appeareth in a dream to Joseph in Egypt,
[20] Saying, Arise, and take the young child and his mother, and go into the land of Israel: for they are dead which sought the young child's life.
[21] And he arose, and took the young child and his mother, and came into the land of Israel.
[22] But when he heard that Archelaus did reign in Judaea in the room of his father Herod, he was afraid to go thither: notwithstanding, being warned of God in a dream, he turned aside into the parts of Galilee:
[23] And he came and dwelt in a city called Nazareth: that it might be fulfilled which was spoken by the prophets, He shall be called a Nazarene.
John 3:16,17
For God so loved the world that He gave His only begotten Son, that whoever believes in Him should not perish but have everlasting life. For God did not send His Son into the world to condemn the world, but that the world through Him might be saved.
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