What Was Said Was Nothing Again

I guess there was a great speech taking place last night. In the Obama speech what was said was nothing again. In the Bobby Jindal speech we heard a Governor who has principles and fiscal discipline. In the Obama speech, no new plans or actual information by the President as to how he is going to turn the economy around. Contradiction galore including the senseless and expensive tax on carbon. Nope in my economic opinion we heard more of the same, more rhetoric, more style than substance and many more taxpayers starting to really tune out the lack of vision by this new administration. We did hear a fresh voice in Governor Jindal who is obviously not worried about public opinion polls and actually leads his state.
By expanding government all you are doing is cutting out the private sector which is the backbone of our economy and the area where new jobs and wealth are created. The Federal government does little if anything to create jobs or wealth in our economy.
Our economy is still strong and vibrant in its fundamentals. We need to stop listening to the 24/7 talking heads and politicians who know little if anything about business and economics and are more concerned with their glory and self gratification. We are an educated population who will overcome this man made negativity. Those who wish to work hard and be successful will continue to do so in our country. Make no mistakes about it. I promise you that.

Economic Confusion

We have economic confusion in our current administration. In my economic opinion we also have economic illiteracy also. I am confused how you can add over $1.2 trillion dollars to the national debt in less than one month in your administration, then come up with a comment on economic restraint and to cut in half the actual deficit by 2013. Can someone in economics tell me how this is possible? I am lost by this rhetoric and fantasy remark. I am even more confused by a pork and earmark laden stimulus package that really does nothing other than place a pent up spending package onto the economy with no rhyme or reason. Obviously politicians are blind to the repercussions of who actually will be paying back this $1.2+ trillion dollars over the next 100 years. And they also blind to the reality that this package is doing nothing to help the economy. Why has the stock market reacted so negatively? Lack of confidence? Lack of any economic knowledge by this administration? Lack of leadership? All of the above? Thus a new chapter for my class will be how to spend $1.2 trillion dollars of pork and then get half off your debt in 4 short years. 2010 can't happen soon enough.

It Is Really Time For Chris Dodd To Resign

It is really time for Chris Dodd to resign as Senator of Connecticut. Yesterday Dodd once again proved his incompetence as head of the Senate Banking Committee with his remarks regarding short term nationalization of our banking system. With this remark he was able to cause millions of Americans to lose even more money in the stock market as prices fell. His panic remarks came after his stupid remarks over the past two years both Fannie Mae and Freddie Mac are in great financial shape, that TARP will help both banks and the credit markets and his nondisclosure of his sweetheart mortgage deal with Countywide mortgage (which benefited from the first bailout bill dramatically). Enough is enough, between lying about his mortgage, getting financial donations from the banking and finance industries which are influencing his decision left and right and now his panic remarks, Dodd can no longer govern. He is causing incredible damage to our financial system and to our state.
Chris Dodd is the reason why we need the power of a recall election in Connecticut. We as taxpayers and voters must force him out of office today, we can't wait until 2010 anymore. Taxpayers can no longer accept his personal glory and self interest as the guise of being a Senator. Dodd needs to resign today.

End The Fairness Doctrine Once And For All

End the Fairness Doctrine once and for all. I applaude South Carolina Senator Jim DeMint to force a vote on ending any thoughts of reviving the Fairness Doctrine. This law does limit freedom of speech and is solely targeted to conservative talk radio. Liberal talk radio fails miserably as guess what very few people wish to listen to it. Liberals are besides themselves in trying to limit Conservative hosts Beck, Limbaugh and Hannity, and their powerful and large radio audiences who listen to them. Why? Because Democrats are afraid of the truth? Are they afraid that these three hosts plus several more are actually expressing a point of view in which millions of Americans agree upon? As compared to the stale, failed rhethoric of the Democratic party? I think Senator DeMint has forced the issue and we will see how many Senators will be in favor of eliminating our freedom of speech by voting to agree with this failed doctrine. The standard should be freedom of speech not the limiting of speech to only liberalism. Remember 2010 is coming fast and the scales will be turning back towards democracy at that time.

These Are The Real Economic Figures That Should Be Reported

These are the real economic figures that should be reported but are not by the media. First we are not in nor even close to a depression. We are in a normal business cycle called a recession. In a recession people lose their jobs because of a lack of demand by consumers to purchase certain goods and services. This is a common occurrence in our economy since the forming of our country. This recession has been exaggerated by both the government and the media. The government has forced affordable housing on the financial industry since the Carter administration and was blind to the massive failures of both Fannie Mae and Freddie Mac. Thus people who can't afford homes are in them right now and are part of the toxic debt problem we have. Thus it is furthering the recession.
Our money supply is a fiat money supply meaning that the US dollar is backed by our faith in our government not by any precious metal. Roosevelt decided back in 1933 to stop backing our dollar with gold and turned to this fiat money system. The next result was money that had no longer any real value to it. Did this shorten the depression? Not at all, our production only increased when we entered World War II. Also the decline in the stock market back in the depression was 90%, today it is only 35%, there is much more money and opportunities in our economy today than the 1930's. Thus his programs did virtually nothing to end the great depression and were more politically orientated than economic.
In reality we have a recession as severe as the 81-82 recession, which we came out of not with massive pork governmental spending but with well thought out tax cuts which stimulated our economy for a long period of time. In my economic opinion to use economic fear to your political advantage is ruthless, illogical and misguided. Unfortunately it seems that our new administration loves and thrives on it. Why? Because power and ego are much more important than the good of our country to these people who supposedly represent us.

How A Democratic Stimulus Harms America

This Democratic stimulus harms America. Since we as taxpayers and voters were not able to comment on the plan nor did any members of Congress actually read it, we must examine from an economics point of view how badly this plan will hurt rather than help our economy. This bill has transfered many of our economic systems private sector functions to the Federal government. By doing this it has created a political economy, one which is fresh with corruption, earmarks, pork and economic illiteracy. How can Congress deny the excessive earmarks and lobbyists injections into this bill? By injecting over $1 trillion dollars in deficit spending in our economy, on programs and projects unproven and untested, it has only allowed the national debt to increase by 10% in one month and further eroded our gross domestic product. It will further erode our credit markets crowding out the little private sector lending taking place and will ultimately lead to much higher rates of interest and inflation. How many jobs are actually being created, at what cost to taxpayers? Where does it state in this plan how and when the national debt gets paid off? Why was this not taken into consideration? What part of economics am I missing here? How does high inflation create economic stimulation? If you really wanted to stimulate our economy Congress would have had the guts to eliminate all taxes on interest, dividends, and capital gains and lower federal spending to a balanced budget for 2009.
We can take comfort in that this plan has shown how out of touch with reality the Democratic members of Congress have become and how many are going to lose reelection in 2010 and 2012. I also must remind the Democratic Congress that FDR died in 1945 and his new deal was a miserable failure just like your bill of 2009.

The New Transparency - Taxpayers Have No Rights

The New Transparency - taxpayers have no rights. This was proven by the Obama administration and his Democratic soldiers in Congress. This new transparency means that taxpayers have no representation by any of the Democratic members of Congress. Here in Connecticut anyone who works for a living has absolutely no representation in Washington. For in a democracy common voices should be heard and debate needs to occur in order for that democracy to survive. What we saw Friday was a rape of our democracy. What we saw with the passing of this so called stimulus package was a rape of taxpayers in our country. What we saw Friday was a rape of children's and grand children's future. What we saw by the new President and his Democratic Congress was a blatant and chilling closing of democracy. The rape of prosperity, freedom of speech and representative government was accomplished by this bill. I can only take comfort that 2010 is coming and taxpayers will have the final say at that time.

What Stimulus Bill? The Democratic Financial Mess

What stimulus bill? The Democratic financial mess. How much will each job cost taxpayers, a mere $400,000? That is stimulating the economy? What a waste of taxpayers monies. How much pork was added to the final bill, can anyone in Congress tell me? In my economic opinion I do not see a great deal of support for this bill that has passed. I find it offensive to taxpayers that Congress wasn't able to even read the bill before voting on it nor were there any public comment on it. Thus taxpayers were just shoved down our throats an additional $2-3 trillion dollars of national debt with absolutely no guarantee of stimulus. I personally doubt if the Democrats will control Congress or the White House in 2010,2012. It will always be known as the Democratic financial mess they created. Great job!

Thursday February 12 - A Connecticut Holiday. Why?

Thursday February 12 - A Connecticut Holiday. Why? Why is today a paid state holiday in Connecticut? Why do taxpayers have to pay for this day off for state workers? How many holidays do state workers get? I know it is more than what I get. With a massive budgetary crisis that we have in the state today, one of the first areas that should be cut are these excessive holidays that are given to state workers. Today is not even a federal holiday so why is Connecticut closed today because of it? Are most state workers home today reflecting on Abraham Lincoln and the problems he faced as President?
Excessive and ridiculous benefits such as today being a paid state holiday has been a great contributing factor in to our states financial mess. Double dipping of retired workers also has been abused and is another factor. Taxpayers who are working today should be livid that this is a paid holiday for state workers in Connecticut. Just another example of the massive waste of taxpayers monies here in our state.

Treasury Secretary Geithner Is Unfit To Serve

Treasury Secretary Geithner is unfit to serve. I found his remarks yesterday to have no substance whatsoever with regards to the Democratic induced economic crisis that we have. He seemed completely lost while his boss is campaigning again about his failed stimulus bill. I am currently teaching a course in Money and Banking this semester (at probably the greatest time ever to be taking it for students). As my class has picked apart on numerous occasions the problems with all of the TARPs, I continue to state that the biggest problem that the economy has today is pricing the toxic mortgage debt that is in the market today. Geithner really needs the ability to come clean as to a valuation on the debt itself, whether it is 10% or 25% or whatever percentage value is derived for it. Why does the new Treasury Secretary have so much problem in doing this valuation? Price it and lets move forward. Toxic debt removed from the market would recreate our credit markets and get the economy moving again rather than the pork/earmark filled bogus stimulus package which will ultimately rape our economy in the long run. Our economy is no way, shape or form is near a depression. We still have the greatest free market economy and country in the world. We need our new administration to stop bashing our economy and act to allow the free markets to work again. This new Treasury Secretary is again an example of failed liberal policies of this administration which is already leading us to the path of ruin.

Our New Economics, Boy Does It Scare Me

Our new Economics, boy does it scare me. I know that as an Instructor of Business and Economics I need to revamp all of my lectures. I need to lecture my students on why our Federal government has to spend money on special interest groups, pork barrel projects and not worry about paying taxes. I can see a lecture on why when one is appointed to a Cabinet position in a new Presidential administration that one does not need to worry about paying taxes. My case study would be Treasury Secretary Geithner who just forgot to pay them and is appointed to this position. In my case study I will compare myself not paying taxes and the penalties that I would endure and Geithner's avoidance of all penalties. I can show how special he is because he is a Democrat. I can also use as a case study Senator Chris Dodd, how a Senator can use his political influence to state that Fannie Mae and Freddie Mac are solvent when they are really not and then be able to get a sweetheart deal on his own mortgage. Economics therefore equals lies and your ability as an elected official to lie basically about anything and everything. Lastly I can use in a lecture that we stimulate our economy through special interest, partisan, corrupt, pork barrel spending funnelled through the Federal government. They can now limit what others make, nationalize our health care system so that more can die and then exempt themselves from the economic mess they have bestowed upon taxpayers. I am really scared but I will choose to continue to teach that the free market system is the only economic system which allows for economic growth and prosperity, something that the Democratic party hates.

State of Connecticut Pension = Continuing To Work For The State Forever

State of Connecticut pension = continuing to work for the state forever. I thought that if you retired from the State of Connecticut with your pension, you could work for 120 days at the most twice. I did not know you could work forever and double dip as long as you want. What a deal! I was even more astounded as both an educator and as a taxpayer that UConn allows this to happen; "One of the biggest UConn "double-dippers" is Richard Kochanek, the former head of the accounting department in the School of Business. Kochanek, 66, teaches two big introductory accounting classes each semester, for which he is paid $81,650 a year, records show. That's on top of his pension, which is $174,432 annually." - Hartford Courant Sunday 2/8/08. That is about $20000+ plus for one class! In the 27 years that I have been teaching Business and Economics classes at area Colleges and Universities I never made more than $3300 a class. Hey I would be willing to teach that great big Accounting class for half of that and save the state over $40,000! Wow what a deal!
I continue to be astounded at the lack of rules that govern anything Connecticut's government does. Even with rules in place and audits taking place, I guess it is just a question of the hell with laws and rules, we can do anything we want. Nor do we want any new educators with new ideas coming in and teaching our students. I guess Good ol' Boys will be Good ol' Boys and taxpayers once again be damned. What another waste of taxpayers monies.

Chris Dodd - Sees Nothing, Speaks Nothing, Hears Nothing

Chris Dodd - sees nothing, speaks nothing, hears nothing. 235 days plus later we still do not have any more information about Dodd's sweetheart mortgage deal with Countrywide Mortgage. We still are no further to trying to understand how Dodd was able to get the large sums of money for his mortgages at a reduced rate and save himself $75,000+. We still are no further in understanding his sweetheart bailout bill that was passed to help his friends at Countrywide Mortgage. We are still no further in understanding how a paid consultant of his law firm (at a cost of $70,000+) was to objectively find anything wrong with Dodd's mortgage deal. We still continue to have the lies of Chris Dodd who is unfit to be the Chair of the Senate Banking Committee. Chris Dodd has once again shown his lack of ethics in continuing to lie about his deal and subsequent payback to Coutrywide with his bill.
And no it does not make a difference if he is going to refinance his mortgages with another lender, he still has not come clean with his dealings with Countrywide.
Chris Dodd has lied to the taxpayers of Connecticut long enough. 2010 can't happen soon enough - Dodd must go.

The Demoratic Man That Costs Taxpayers $165,000

The Democratic man that costs taxpayers $165,000. What is another $165,000 to taxpayers? After all being a Press Secretary, to in his own mind, to the most important Democrat in Connecticut, Speaker Chris Donovan, is probably one of if not the most important jobs in Connecticut. I know it is difficult to motivate Democrats who have a super majority in the House and as such Mr. Whiting really needs all of this money. I know this job creates in the Democrats minds a great deal of productivity and somehow contributes to the United States balance of trade and to our nation's Gross Domestic Product. I know Mr. Whiting's job is stressful, he endangers himself each day he goes to work, his position critical and essential to the day to day functioning of Connecticut. Obviously Connecticut could no longer function without Mr. Whiting. Maybe it is time to start naming streets, schools and or towns in Connecticut after Whiting, Donovan or maybe even Jim Amann?
Just another example of how the Democratic party in Connecticut has no respect or economic common sense for taxpayers. Again, just another example of how leaderless and inept Chris Donovan is. 2010 is coming.