All actions have consequences. Consumers living beyond their means, taking out loans for homes they couldn't possibly afford, resulted in the sub-prime crisis, Fanny and Freddie mess, and meltdown of the US economy.

The TARP bailout for $700-some billion has opened the door to every Tom, Dick and Harry industry standing in line for a bailout handout: the auto industry, rental car companies, ethanol industry, and credit card companies to name a few. States such as California and even Wisconsin might put their hands out as well. President elect Obama is talking about another bigger and better stimulus package too, asap.  

Our government acts like they can give out billions of bailout and stimulus money with no consequences.

But history tells us no economy can thrive by printing up and passing out dollars. It did not work for Germany, where you practically needed a wheelbarrow to hold your Marks to buy a loaf of bread. "In 1914 one egg cost less than one mark. Nine years later an egg was 80,000,000,000 (eighty billion marks)."*

To finance the new spending during Carter years, the joke was, Hey, Jimmy, just print up another roll of $20s! We know how well that worked.

So why do we think we can do what no other government could do in the past, by printing up new money to finance and shore up failing industries with no consequences? Arrogance maybe?

Money Morning sounded another warning today: With Billions in Bailout Funds Flowing, the "Peso-fication" of the Dollar Continues:  

The plethora of bank and corporate bailouts, stimulus plans and interest-rate cuts that the U.S. government has produced over the last three months can only lead to one outcome: The U.S. dollar has to decline.

During the crisis so far, the dollar in general, and U.S. Treasury bonds in particular, have been regarded as a “safe haven,” making the dollar strong and pushing long-term U.S. Treasury rates downward. In the New Year, however, this is likely to change – the weight of the added supply of dollars in circulation will be too great for the greenback to shrug off.

Much of that report makes my head spin, but I do understand the basic principle that you cannot increase the money supply so dramatically without inflationary consequences. The amount of deficit spending we have committed to so far is unprecedented.

Usually I check the stock market every day and look at how the dollar is trading too. Today, the US dollar was down in all trading: against the Canadian dollar - $1.23 vs $1.28 a few days ago, against the Euro, the dollar had fallen 4 cents to .76.  

If this trend continues, the dollar loses value, therefore, you need more of them to pay for purchases. Hence, the wheelbarrow will be needed to carry your cash to the store! On second thought, people will just use a credit card instead of cash, so no need for the wheelbarrows.

What we need is to tighten our belts and live within our means, be it at the local, state, or federal level of government. It is time to act like grownups and say NO to frivolous spending and bailouts. If we don't, the Carter years will look like the good old days for the dollar and us.

Did you contact Senators Kohl and Feingold about the auto bailout? Senator Kohl (Phone: (414) 297-4451, (202) 224-5653) and Senator  Feingold (Office of Senator Russ Feingold (202) 224-5323)

*From Richard Maybury's Whatever Happened to Penny Candy, Wallpaper, Wheelbarrows, and Recession, pp 52. 

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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There is a lot at stake for former Vice President Al Gore with the Global Warming* issue. Without the threat of Global Warming, he is rather out of a job. Who would hire Al Gore to come speak about the threat of normal weather? Without Global Warming, who would ever buy a carbon credit from the corporation he is affiliated with? Without Global Warming, Al Gore just becomes another washed up Vice President who did not make it to the ultimate status prize of the presidency.

I can understand why Al Gore keeps insisting that Global Warming is a serious threat to the planet.  All of Al Gore's current prestige and status and livelihood are tied to this fabricated crisis.

President elect Barack Obama's buy-in is more difficult to understand, but buy-in he did. Obama meets Gore, urges urgent action on global warming:  (My emphasis throughout)

U.S. President-elect Barack Obama on Tuesday reiterated the need to address global warming as he discussed the problem with former Vice President Al Gore. Flanked by Gore and Vice President-elect Joe Biden, Obama told reporters in Chicago, ‘‘All three of us, I think, are in agreement that the time for delay is over, the time for denial is over.’’

‘‘We all believe what the scientists have been telling us for years now: that this is a matter of urgency and national security, and it has to be dealt within a serious way,’’ he said. ‘‘That’s what I intend my administration to do.’’

Obama met with Gore ‘‘to listen and learn from Vice President Al Gore on the extraordinary work that he has done around the issue of climate change,’’ for which the former vice president won a Nobel Peace Prize in 2007.

Obama is still bent on his environmentally friendly energy program, his green jobs plan--even though they won't solve our energy problems or help our economy.

When people realize what his energy plan will cost, both in Cap and Trade costs and increased utility costs, they might HOPE things will CHANGE back to cheaper un-green energy. From geophysicist David Deming:

"Let the politicians take note. People will not like what you have in mind. California is arguably the most liberal state. Yet last month they defeated, by nearly a 2-to-1 margin, a law that would have forced California utilities to obtain half their electric power from renewable sources. What the Obama administration proposes is much more radical. Their cap-and-trade proposal will dramatically increase the energy costs of the average consumer and likely drive our crippled economy into a severe depression.

Why a president, facing the economic crisis our country seems to be headed toward, would embrace such expensive, inefficient green energy and crippling cap and trade proposals is beyond me. It is beyond geophysicist Deming too, who stated in his commentary, Global warming freeze:

This is an absurd spectacle. Our advanced civilization is being systematically mismanaged by technologically illiterate lawyers responding to political pressures from irrational fanatics. Would someone please tell these people it is impossible to overturn the laws of thermodynamics?

We cannot improve our economy by artificially forcing people to use expensive, unreliable and inefficient energy sources.

As Deming concludes, "To the extent global warming was ever valid, it is now officially over." Now we just have to get the politicians to look at the facts, because I cannot afford to pay triple WE energies bill charges!

*The term Global Warming is morphing into the term Climate Change because world temperatures have not cooperated over the past 10 years. Many examples cited in Global warming freeze? point out that current data shows warming "is now officially over."

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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Remember when Sen. Joe Biden predicted an international crisis if Obama was elected? "Mark my words, it will not be six months before the world tests Barack Obama like they did John Kennedy" (Actually, Kennedy's test came 22 months after taking office.)

Although the idea that an Obama presidency would generate an "international crisis, a generated crisis, to test the mettle of this guy" is troubling, yet the comparison of Obama being like John F. Kennedy is flattering. Unfortunately, there is no comparison.

Yes, both men were young, but that is pretty much where the similarity ends.

JFK was a war veteran. He was squarely behind defending liberty throughout the world. From his Inaugural Address:

Let every nation know, whether it wishes us well or ill, that we shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe, in order to assure the survival and the success of liberty.

This much we pledge--and more.

JFK did not spurn the use of technology to keep the world safe as Obama has. In fact, the technological breakthrough of the solid rocket fueled Minuteman missiles served as a deterrent to the Soviets during the Cuban Missile Crisis.

We learned about the Minuteman deterrent when we visited an actual Minuteman II Missile Site while on vacation 2 years ago. (Photo is of huge bank style vault door)

The National Park Service preserved this last remaining facility for its historic significance, and we were privileged to have Kerry Davis, a former Minuteman employee, as our tour guide.

Ranger Davis (pictured, but my family is photoshopped out) used to work in a Minuteman II facility just like this one. We were far below the surface of the earth in this vault-like bunker command station. Davis told us how he belted himself into the red rolling chair on tracks during his shift. They did this so in case of nuclear attack, he could still launch our missiles, God forbid, if needed.

He also told us why the Minuteman was nicknamed the Ace in the hole during the Cuban Missile Crisis. President Kennedy knew he could launch in 5 minutes, if needed. Presumably Khrushchev and Castro knew it too.

No longer did our offensive nuclear missiles require time consuming fueling before take off. Prior to the Minuteman, the fueling process took so long that missiles from Russia would already be blasting America before our liquid-fuel rockets could get off the ground. The Minuteman was a solid rocket system--always at the ready in 5 minutes, hence the name Minuteman.

If you look at the Minuteman Missile History, you see that Minuteman I became operational just 8 days after the crisis began...

and 1 DAY before we went to DEFCON 2.

(My emphasis throughout) 

LGM-30A/B Minuteman I:  In the late 1950s advances in solid-fuel propellants enabled the Air Force to develop its first solid-fuel ICBM, the Minuteman I (LGM-30A/B). Formal development began in September 1958, and after an extraordinarily rapid development program, the Air Force put its first ten Minuteman ICBMs on operational alert at Malmstrom AFB, Montana, in October 1962. Deployment proceeded at an equally furious pace, and within 5 years 1,000 of the solid-fuel missiles stood poised in their silos.

... On October 22, 1962, SAC placed its first flight of ten Minuteman missiles on operational alert.

On the night of October 23, the Joint Chiefs of Staff instructed Strategic Air Command to go to DEFCON 2, for the only time in history. The message, and the response, were deliberately transmitted uncoded, (unencrypted), in order to allow Soviet intelligence to capture them.^[3] Operation Falling Leaves quickly set up three radar bases to watch for missile launches from Cuba.^[clarify] The radars were experimental models ahead of their time. Each base was connected with a hotline to NORAD control.

NORAD was the central control for the 10 new Minuteman I stations. America played a gut-wrenching game of chicken with the Soviets and Cuba. By the grace of God, the crisis passed.

 ...After much deliberation between the Soviet Union and Kennedy's cabinet, Kennedy agreed to remove all missiles set in Turkey on the border of the Soviet Union in exchange for Khrushchev removing all missiles in Cuba.

If America did not possess the capability to launch before Russia or Cuba could, or if we had not developed new weaponry, would the Cuban Missile Crisis have resolved peacefully?

I doubt it.

Countries that were weak militarily in Europe were taken over by the Soviet Union.

I believe it was only Providence that caused the Soviets to believe America was a force to be reckoned with, that the situation resolved as well as it did.

Now contrast Kennedy's attitude toward military technology with Obama's on military spending and technology:

...I will cut 10s of billions of dollars in wasteful spending. I will cut investment in unproven missile defense systems. I will not weaponize space. I will slop our development of future combat systems...

I will set a goal of a world without nuclear weapons. To seek that goal, I will not develop new nuclear weapons. I will seek a global ban on production of fissial material and I will negotiate with Russia to take our ICBMS off hair trigger alert and to achieve deep cuts in our nuclear arsenals.

Obama's naivete' on military technology and preparedness is frightening. Where would we be today if President Eisenhower and Kennedy had not embraced military technology? Maybe part of the Soviet Union?

President Kennedy might have been young and tested just 22 months into his presidency. At least he was realistic about the importance of new technology. Obama is not. 

After our tour of the Minuteman command bunker, the Ranger took us to an actual missile silo. We were told about how many warheads have been dismantled since the end of the Cold War and how the military was doing a soft standing down of Cheyenne Mountain/NORAD command center--they felt they didn't really need it anymore. Since North Korea had just fired a test long-range missile, I was not so sure a soft standing down was wise. Are there other Minutemen missiles I asked? Yes, the Minuteman IIIs are in service. I felt a little better. (Photo is of missile in glass topped silo)

The world is a much more dangerous place since our visit 2 years ago. North Korea and Iran continue to work on developing nuclear weapons. Russia is becoming more aggressive. Can we afford to "slow our development of future combat systems?" or "cut investment in unproven missile defense systems?" or "take our ICBMs off hair trigger," as Obama promotes? I would say, no, not in today's dangerous world. At least not if America wishes to remain a superpower.

P.S.--A serendipitous find: We stumbled on the ATK Corporation, out in the middle of nowhere in Utah. The T stands for Thiokol Chemical Corporation, the maker of solid rockets. Their entire front lawn held a collection of solid rocket history. Very interesting.

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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Remember the song, Raindrops keep falling on my head? I'm thinking we need a new version: ACORNs keep falling on my head! (Sing along to the original song's last refrain.)

ACORNs keep falling on my head,

And just like the guy who keeps reg-i-st'ring the dead,

No one seems to care,

'Cause, we're never gonna stop the fraud by complainin'

Because they're free-e-e,

No one's checkin' their ID 

I'm sure we could come up with alternative lyrics to the whole song with a different theme for each stanza: multiple registration, fictitious name, underage, felon, non-citizen registrations--you name it, but you get the idea. 

Here are just a few newsworthy rotten ACORNs. 

Missouri officials suspect fake voter registration:

KANSAS CITY, Mo. - Officials in Missouri, a hard-fought jewel in the presidential race, are sifting through possibly hundreds of questionable or duplicate voter-registration forms submitted by an advocacy group that has been accused of election fraud in other states.

Charlene Davis, co-director of the election board in Jackson County, where Kansas City is, said the fraudulent registration forms came from the Association of Community Organizations for Reform Now, or ACORN. She said they were bogging down work Wednesday, the final day Missourians could register to vote.

1 VOTER, 72 REGISTRATIONS: 'ACORN PAID ME IN CASH & CIGS': 

CLEVELAND - A man at the center of a voter-registration scandal told The Post yesterday he was given cash and cigarettes by aggressive ACORN activists in exchange for registering an astonishing 72 times, in apparent violation of Ohio laws.

Local 2 Investigates Dead Voters: (And Texas has a voter ID law!)

Texas Watchdog compared Harris County's voter registration roll with the Social Security death index and found more than 4,000 matches -- registered voters that, it appears, are already dead.

...Auditors identified 49,049 registered voters state-wide who may have been ineligible to vote. Approximately 23,576 may have been deceased and another 23,114 were possible felons. And they found more than 2,359 duplicate records.

Many convicted felons remain on voter rolls, according to Sun Sentinel investigation. The video clip interviewed one convicted felon who was registered by the Democratic party. (ACORN was not mentioned in this case.)

Since January 2006, more than 1.6 million new voters have registered in Florida. FDLE [Florida Department of Law Enforcement] identified more than 124,000 possible felons.

...Elections workers are now reviewing more than 3,800 possible felon voters but have more than 108,000 others still to be checked. "We've not touched those records yet," Browning said.

Yesterday, the 3rd person [was] charged with election fraud in Wisc.

MADISON, Wis. (AP) -- A third person in Milwaukee faces charges of election fraud after prosecutors say he turned in 54 fake registrations, including one for a man who died 16 years ago.

Frank Walton, 29, submitted the inaccurate voter forms to the city Election Commission, according to a criminal complaint, with errors that also included fake driver's license numbers and Social Security numbers.

Walton faces one count of falsely procuring voter registration and faces up to 3 1/2 years in prison and $10,000 in fines if he's convicted.

And, let's not forget that even Mickey Mouse Tries to Register to Vote, The cartoon character's application, which included a stamped logo of ACORN, was rejected by Florida elections officials over summer. 

Florida elections officials rejected Mickey's application this summer. It is unclear whether Mickey tried to register as a Democrat or a Republican. But the application included a stamped logo of ACORN, the community organizing group that is facing accusations of voter registration fraud.

At least Mickey is a Florida resident! 

There are so many incidents of ACORN and other fraudulent voter registration stories, that it is difficult to keep up with them. There is little that can be done at this point because we have not accurately maintained our voter registration rolls and Democrats are unwilling to help remedy the situation. (Remember how the Wisconsin Democrat Senators wouldn't bring Voter ID to a vote last spring? My Senator, Jim Sullivan*, cast a key vote in keeping that measure from the floor.)

Sickening.

*I will help the next conservative Republican State Senate candidate's campaign. How about you? 

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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Last night I heard Senator Inhofe (R-Oklahoma) on the Mark Levin Show.  They were discussing S. 2191, the Senate "Lieberman/Warner Global Warming Bill and the disastrous effect this would have not on just the country as a whole, but the individual." (My emphasis throughout post.)

Wall Street Journal referred to Cap-and-Trade as Cap and Spend

As the Senate opens debate on its mammoth carbon regulation program this week, the phrase of the hour is "cap and trade." This sounds innocuous enough. But anyone who looks at the legislative details will quickly see that a better description is cap and spend. This is easily the largest income redistribution scheme since the income tax.

The Washington Post said, Just Call It "Cap-and-Tax" 

"...One of the bad ways [to control greenhouse gas] is cap-and-trade. Unfortunately, it's the darling of environmental groups and their political allies.

The chief political virtue of cap-and-trade -- a complex scheme to reduce greenhouse gases -- is its complexity. This allows its environmental supporters to shape public perceptions in essentially deceptive ways. Cap-and-trade would act as a tax, but it's not described as a tax. It would regulate economic activity, but it's promoted as a "free market" mechanism. Finally, it would trigger a tidal wave of influence-peddling, as lobbyists scrambled to exploit the system for different industries and localities. This would undermine whatever abstract advantages the system has.

...Call this "environmental pork," and it would just be a start. The program's potential to confer subsidies and preferential treatment would stimulate a lobbying frenzy. Think of today's farm programs -- and multiply by 10.

After listening to Senator Inhofe, I think we could also refer to it as Cap-and-Raid! If it passes, it will raid every worker in America's wallet!

Senator Inhofe said, Senator Barbara Boxer insists this is not a tax bill. But if you have looked into the bill itself and at the linked articles, it is difficult to understand how this could not be considered a tax bill.

Inhofe then quickly listed some points to ponder. He mentioned the Wall Street Journal referring to it as the most extensive reorganization since the 1930s. He called it worse than the Kyoto Treaty for the economy. Cap-and-Trade will need 45 more Big Government Bureaucracies to enforce the standards.

Using Boxer's figures, Inhofe pointed out that Cap-and-Trade would collect $6.7 Trillion dollars from industry (those costs will be passed onto us!). The maximum rebate to customers is $2.5 Trillion dollars. Do the math: That means $4.2 Trillion goes where?

That sounds like a tax to me!

He went on to remind us that the Democrats have killed every domestic drilling bill. The US relies on coal for 53% of all of its electricity production. Cap-and-Trade will tax coal fired electricity production. Consider that China "cranks out a new coal electric plant" every 3 days (?). (I think he said 3 days, which fits with this - certainly between India and China it would be true.)

Manufacturing jobs will go where there is (cheap) energy/power, Inhofe said. This is also what Congressman Sensenbrenner talked about at his Town Hall Meeting when he called Cap-and-Trade "Catastrophic for Wisconsin". I would add that manufacturing jobs will also go where environmental regulations are more lax.

Senator Inhofe suggested people take a look at Liberman-Warner Opposition Resource Center; Impacts of Costly Climate Bill Exposed  It is chock full of quotes, links and articles.

The Senate is debating this bill this week. While some say the bill will not pass, as you know, once the foot is in the door, the issue will not go away.  Considering all 3 Presidential candidates support the concept of Global Warming, I would just say, the bill probably won't pass...yet.

Our Senators' response to my emails: Not much hope of a NO vote here--unless they feel the heat from constituents.

This is important! Please contact them both: Senator Kohl (Phone: (414) 297-4451, (202) 224-5653) and Senator  Feingold (Office of Senator Russ Feingold | 202/224-5323) and let them know what you think about this bill.

More reading:

George Will's Cap-And-Trade: A Devious Tax Plan

Good chart of key players and terms explained at end: Senate taking up key climate-change bill 

The Heritage Foundation's Morning Bell: Carbon Capping in Bizarro World 

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