Hey Washington - WAKE UP!!

For the past couple of weeks I've been listening to the debate in Washington on the economic crisis. The more I learn what is in this bill the more I think I am watching a horrible movie and wonder when the credits will roll so that I know it's over. There must be something in the air in Washington DC that makes our elected leaders lose all common sense when they arrive. The pork and outright payoffs in this stimulus bill are unconscionable! This congress is on the verge of saddling the American people with ANOTHER trillion dollars of debt.

Hey congress why don't we keep it simple! The economy will get going when people have money to spend. A bill could be passed next week and made retroactive to January 1 with the following elements. 1) $50,000 tax credit for buying a new home 2) $20,000 tax credit for buying a new car 3) low interest home loan guarantees for existing homeowners 4) suspend the payroll tax for the first 90 days of the year. Once this is done, the debate can begin on what type of government involvement should be for maintaining our existing infrastructure and investing in the future infrastructure.

Americans have had enough of government bailouts. Especially when we learn that $78 billion was overpaid. Companies receiving bailouts paid for prostitutes and took lavish and excessive junkets. When is congress going to wakeup and realize that economic recovery starts from the bottom up and not the top down.

Tim Johnson, Susan Collins, Olympia Snowe, and Arlen Specter please think twice before voting for this massive pork bill. VP Joe Biden is right when he says there could be a backlash. American's did not send the congress to Washington DC to turn us into a debtor nation.

The British called - They want their guns back!

A friend of mine sent me this link to a video on youtube. For those of you that are defenders of the Second Amendment, I'd ask that you invest a few minutes. It is eye-opening.

SR-71 Blackbird

The SR-71 is one of the most impressive airplanes the US has ever built. A friend sent me this flash video - it is very well done. Take a few minutes and watch.

What Do We Know About Barack Obama?

I just completed reading "The Case Against Barack Obama" by David Freddoso. To say the least it raises some very important questions on Obama's judgment. It also says a lot about the man that wants to be President of the United States when he votes "present" over 130 times in the state senate on controversial issues instead of taking a position. I find it amazing that I actually agree with Hillary Clinton on something - the mainstream media has given Obama a complete pass. When Obama can't even support the Born-Alive Infants Protection Act, one needs to ask yourself what do we really know about this man.

It is not mean-spirited or divisive to ask ligitimate questions about Obama's past. His ties to the corrupt Chicago political machine, a radical minister, and an unrepentent terrorist are starters. I for one would like to know when the mainstream media is going to start asking him the tough questions that every American has the right to know the answer to before voting in November.

Pickens Plan

I'm sure by now most of you have seen T. Boone Pickens on TV with his commercials or on news shows. He offers a very no nonsense approach to using the resources in the USA and reducing our dependence on foreign oil - which is currently $700 billion a year on the way to $1 trillion a year. I've spent several hours watching his testimony in front of two Senate committees. If you haven't spent any time researching his plan, I'd recommend spending a few minutes on his website - it's very educational at the least. I found a 10 minute video that describes the plan very well.

Recession or No Recession?

I know that by the technical definition the US economy is not in recession. Yes, I know that there are parts of the country that are hurting - for instance Michigan. From my perspective there are only pockets of the country that are hurting and in general things are in pretty good shape. Now before everyone thinks I'm crazy, let me share some of my observations.

Most of you know from previous posts I travel extensively for my job. I have never seen airports more crowded than I have this year. I am rarely on an airplane that has more than 1 or 2 seats unfilled. In New York City this week one can hardly walk on the sidewalks because there are so many tourists. By the way you can hardly get a hotel room near Times Square and if you do they are going for a mere $500 to $700 per night. If the economy was in dire straights would people really be spending lavishly on discretionary items?

Let me go back to May of this year. I spent a week in Las Vegas for a conference. Again an off-peak time in Vegas and it was packed. I could hardly get in and out of the airport due to the lines, the gaming tables were very busy even on week nights, show prices are astronomical, and food prices reminded me of the Miller High Life commercial where their privileges are revoked due to ludicrous prices. If the economy was in dire straights would people really be throwing money away in Vegas?

I admit I feel the pain at the pump just like everyone else, however I've adjusted spending in other places to compensate for that increased expense.

Is it possible Phil Gramm is right that we have become a nation of whiners?

The Looming Crisis the Media is Ignoring

The world is currently consuming about 85 billion barrels of oil a day. Approximately 40% of the world's oil supply is transported through the Strait of Hormuz. As we all observed this week the tyrannical country of Iran is flexing it's muscle to discourage Israel and the US from attacking it's nuclear facilities. It is becoming clearer and clearer that Iran can disrupt if not shut down the Strait of Hormuz. The devastation to the US and world economies would be unimaginable.

The US is currently spending about $700 billion per year on imported oil. Some have said that a disruption in the Strait of Hormuz would double if not triple the cost of oil overnight. If the prices do not decline, the US would now spend $1.4 to $2.1 trillion dollars a year for imported oil Clearly this is not affordable and would cripple the US economy. To put the $700 billion of annual oil spend in perspective, that is 4 times the annual cost of the Iraq war.

What happens if the US can not reduce its dependence on imported oil? For starters the US military presence in the Middle East would have to be massive to keep the Strait of Hormuz open and to protect the oil fields in Saudi Arabia, Iraq, and Kuwait. The price at the pump could easily reach $8 to $12 per gallon.

The US needs a comprehensive plan to solve this problem. Domestic sources of energy need to be put into production as soon as possible. Diplomatically and militarily the Middle East must remain "stable" to minimize the disruption of the oil supply while domestic sources are brought online.

If Iran attacks the US or Israel, we may see economic conditions not seen since the Great Depression. Isn't it about time the media starts asking our elected leaders and want to be elected leaders some tough questions that affect all of us? If not we'll continue to get 24 hour coverage of mental recessions and Jesse Jackson wanting to castrate Obama.