Anti-incumbent super-PAC puts Texas House lawmakers in its sights

Sorry, Readability was unable to parse this page for content.

jack del rio jack del rio heaven is for real chapter 11 bankruptcy chapter 11 bankruptcy big ten acc challenge 2011 john wayne gacy

Americas Biggest Threat is EU Sovereign Debt Crisis not AQAP

Okay, let?s get this straight. The injudicious assertions promulgated by political charlatans on both side of the aisle from Obama to Congressman Pete King that America?s biggest threat is Al-Qaeda in the Arabian Peninsula (AQAP) is feculent and even dangerous. In fact it is one of the more laughable jactitations proffered in recent years and ranks up there with the suggestion that America is post racial or even that Wall Street and bankers can police themselves.


In all honesty as things stand, our truest and greatest threat is the European sovereign debt crisis and not AQAP. For if the chickens come home to roost, with the chickens in this sense being the massive preponderance of complex financial papers and derivatives which remain without a true valuation and inundate the global markets, and then we have seen nothing yet in terms of an economic disaster. I means, what is on the horizon given what is occurring in Europe will eventually demonstrate that what we just observed with regards to JP Morgan-Chase and Jamie Dimon will be just a drop in the bucket.

But instead of giving these events the attention they require and other signals, we ignore them and continue with the small thinking myopia that would advance a HR 1838 (SWAP Bailout prevention act) on behalf of Republicans or an HR 3784 (Gas Price Spike Act of 2012) on behalf of democrats. The later under whom oil companies would be taxed at 50 to 100 percent of profits considered to be ?higher than reasonable.? Notwithstanding other distractions whether they concern Mayor Cory Booker?s honest remarks on private equity or the President?s personal opinion on Gay marriage, we never seem to be able to be proactive and address real issues that will impact us more than any of the aforementioned in aggregate. Fact is gay marriage has nothing to do with the US economy.

Bush, followed by the Obama administration implemented massive stimulus that were supposed to grow the economy. Unfortunately, such has not manifested as promised by the Keynesian heavy Obama administration (Bernanke, Krugman and Geithner). By their logic the stimulus was supposed to produce fifty cents of GDP growth for each stimulus dollar spent. But instead of increasing demand, what they did was discourage consumption and investment by the private sector who based on all this talk, rightly expect tax hikes to finance the stimulus somewhere in the near future. Meaning that the stimulus actually squashed the private sector spending it desired to stimulate.

This may be why the CBO recently reported the strong chance of another US recession soon. They predict that the US Gross National Product (GNP) will go negative for at least two quarters, given the eventually ending of the Bush-era tax cuts, the extended unemployment benefits and the reinstating of the payroll tax rates back up to 6.2 percent from the current 4.2 percent. Not to mention that currently as a nation, we spend $454 billion a year just on servicing the interest on the national debt alone. Then there is the $642 billion spent on the Afghan war (this includes this year?s spending). And let us not forget the 11 million homeowners in the US with in excess of $800 billion in negative home equity and you can see we have a big mess on our hands without the problems in Europe.

Starting with the UK, Britain's economy contracted by 0.3% in the first three months of the year, faster than previously thought and pushing the country back into another recession and equal to the contraction in the final quarter of 2011. There has been no growth in manufacturing after last year the sector exhibited a decline of 0.7% at the end of last year. The banking sector also contracted, by 0.3%.

Then there is Spain. Spanish banks? total loan losses could range between 218 billion and 260 billion Euros, more than currently expected according to estimates by the Institute of International Finance. Spain?s economy is in critical condition with 23 percent unemployment of which 50% percent of those under 24 are unemployed (the highest in the Euro zone) and they are in their second recession in three years. Spain like all the European countries that, are uncompetitive, have high debt levels, and suffer from low savings rates that have been forced down in over the past years - one reason why 16 Spanish banks were downgraded last week.

The picture is no different in Italy which saw Moody?s Investors Service downgraded 26 Italian banks, where investors are needing higher risk premiums for Italian government bonds on fears that Greece may exit from the euro zone and Italy's double-dip recession . Italy is estimated to have around a debt burden of ?1.9 trillion (about 120% the size of its gross domestic product), or about $2.6 trillion).

The reality is all the talking and meeting the G-8 just did wasn?t anything and empty, especially without Russia, China and India in attendance. The realty remains that a Greek euro exit is very likely and soon. If it happens, it will lead to runs on Spanish and Italian banks, resulting in the need for the ECB to give out more credit to keep the banks from collapsing. Although the problem isn?t Greece, but rather that Greek banks are undercapitalized. Greece cannot crash the euro zone alone. But what it may lead to can. If they are allowed to leave, the same will be true for other nations.

Ben Bernanke and the politicians in Washington DC speak of recovery while the facts do not support their contention. Not to forget that it was in the 1970s when Nixon enabled bankers and politicians to print and spend at liberty without a gold standard and a Central Bank owned by Wall Street, has resulted in a country where the cost of things we need to live have risen at twice the rate of our income. The truth is that real inflation has been running 5% higher than government is telling us in spite of what is being told to us by Paul Krugman (that there are very few Americans living on a fixed income being impacted by Bernanke?s zero interest rate policy). Maybe this is why?Krugman?is so bent on another $4 trillion of debt and a debt to GDP ratio of 130% to get our economy back on track.

Yes we cannot see the big picture. The real US deficit is over $5 trillion. Our policy appears to ignore Greece, which after several years of austerity are in the midst of a full-blown economic depression and they still do not have a balanced budget. The Greek economy has contracted by 8.5 percent over the past 12 months and the unemployment rate in Greece is up to 21.8 percent, is already experiencing a depression that will only get worse. If or when they leave, investor confidence in the euro zone will be damaged forever. Already as a nation America has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.

Europe is our largest trading partner, especially as it pertains to exports. Yet our efforts are all over the place. Paul Ryan supposed spending cuts really only slow spending to 3 percent annually while Obama increases spending 4.5 percent a year in his budget. No to mention that like the EU zone banks who are undercapitalized and heavily burden with the uncertainty of how much banks actually hold in bad assets, and the potential need for the government to bail them out at the expense of a bigger debt burden, the same is true for US banks.

Economic growth is stalled both in Europe and in America plus there seems to be a lack of concern here and little if any coordination between the EU and US. None of the nations including the US are recalibrating either fiscal or monetary policy which is a must. Reform not stimulus is the answer if we look at the real world examples here and abroad. Both the ECB and Federal Reserve seem to focus on the nations and not the banks and the Obama administration has only tackled the issue from a short term perspective. So what there is a newly revealed Al Qaeda video that calls on followers to launch cyber attacks on Western targets that has Sens. Susan Collins and Joe Lieberman, chairman of the Senate Homeland Security Committee, scared, it aint got nothing on what?s going on across the pond and is nowhere as big a threat to America as the European sovereign debt crisis. Take note you heard it here first.

lesnar vs overeem appetizer recipes alistair overeem alistair overeem texas a m insight bowl russell brand files for divorce

Crowd attempts Everest summit after deadly weekend

KATMANDU, Nepal - Scores of climbers were headed for the summit of Mount Everest on Friday to begin what is expected to be another busy weekend on the top of the world.

1. Don't miss these Travel stories

   1. New coasters offer new thrills

      Ride designers and theme park operators are upping the thrill factor through design and technology rather than vying for new records.

   2. Want to fly next to your child? Prepare to pay
   3. Have an airport question? Ask an avatar
   4. U.S. airlines see decline in baggage-fee revenue
   5. Fear factor: Strangest travel phobias

Last weekend, four climbers died on their way down from the summit amid worsening weather and a traffic jam of more than 200 people scrambling to conquer the world's highest peak. A similar crowd is expected this weekend, but there have been no reports of climbers in trouble and the weather is good.

Related: Climbers' traffic jam blamed for Mount Everest deaths

Gyanendra Shrestha, an official with Nepal's Tourism Ministry, said he had reports that 82 climbers reached the 29,035-foot summit on Friday morning.

Shrestha, who is at base camp, said 120 climbers started the last phase of the climb on Thursday night, but not all of them reached the summit. He said it was normal for some climbers to quit at the last treacherous part of the climb for various reasons.

More climbers were expected to try to reach the summit on Saturday - probably the last day of this climbing season.

"This is the last chance for climbers to attempt to reach the summit. If they can't, then there is not going to be another opportunity this season," said Mohan Krishna Sapkota, another tourism official.

Most of the climbers began their trek from the last camp at the South Col, located at 26,240 feet, on Thursday night and climbed all night, reaching the summit in the morning.

The deaths last weekend raised concerns about overcrowding above the highest camp on the mountain. The area above the South Col is nicknamed the "death zone" because of the steep, icy slope, treacherous conditions and low oxygen level.

Officials said that last weekend, climbers were heading to the summit as late as 2:30 p.m., even though 11 a.m. is the latest start time recommended. That meant climbers were staying too long on the mountain's upper reaches and exhausting their oxygen supplies because they didn't anticipate having to wait.

Related: Climber's sky-high dreams dashed far below Everest summit

More than 3,000 people have climbed Everest since Edmund Hillary and Tenzing Norgay became the first to do so in 1953. Some 225 climbers have died attempting it.

The deadliest day was May 10, 1996, when eight people were killed. The main reason was said to be that climbers who started their ascent late in the day were caught in a snowstorm in the afternoon and lost their way.

The climbing season normally runs from late March to the first week in June, but this year the first clear conditions occurred only last weekend.

la riots new jersey devils torn acl derrick rose injury st louis news utah jazz lawrence of arabia

Business Entrepreneurialism - Business opportunities online ...

Smart Women Have a Winning Offense

Posted: 24 May 2010 02:17 PM PDT

Recently my children's little league baseball team was defeated---badly. At one point, I looked at another mom and said, "Please let the bloodshed end!" After the game, the coach brought the team into the dugout to review what worked and what didn't work. He began with a review of the other team's performance. One boy piped in, "They sure hit well when they were at bat." Another boy said, "And they were good at stealing bases!" This got me thinking about how Smart Women need a good offense to win this game we call entrepreneurship.

Internet Marketing Training is the New Lucrative Career For Many

Posted: 24 May 2010 01:43 PM PDT

As time progresses you be sure there will be huge numbers of people earning a full-time income from the internet. Here are some reasons why, and some statistics.

How to Write SMART Goals That Increase Your Business Income

Posted: 24 May 2010 01:06 PM PDT

Writing out the goals needed to realize your dreams is a critical step that ensures you give them the attention they deserve. Find out how to write SMART goals that put money in the bank by following these simple steps.

Starting Your Internet Business in a Slow Down

Posted: 24 May 2010 11:15 AM PDT

According to market research, after every recession, at the start of boom time - the online space does very well. With this formula, the business you own must be able to capitalize on the strong points of a good and bad economy.

Online Business Ideas - Yeah, There's an Entrepreneur For That

Posted: 24 May 2010 10:44 AM PDT

Man alive, is there no end to online business ideas? And for every one, there's a slew of entrepreneurs waiting to dig in. Or, they're waiting in the wings.

Where Are You in the Bell Curve of Business Success?

Posted: 24 May 2010 09:37 AM PDT

Compare yourself to above average achievers or even super achievers and you may feel you are lacking what it takes to be all you can be. I am all for being driven to do more and be better, but that can be a high cost if you are not grounded. Take note of where you are and what you are accomplishing.

4 Quick Ways to Get Rich

Posted: 24 May 2010 07:50 AM PDT

Have you ever wondered why some people get rich and some don't? There has been a plethora of books on how to become rich, however it seems like most of the books are written by people who hasn't yet become rich. For example, it is speculated that the author of the book, 'Think and Grow Rich', died poor. To become rich it is best to learn from people who are already rich.

The Wizard of Oz

Posted: 24 May 2010 07:48 AM PDT

The Wizard of Oz was like the puppet master controlling the purse strings behind the curtain. The strings were not only controlling my hands, feet and lips, there was also a noose firmly around my neck.

Here is What Life is Really Like For Small Business Brokers

Posted: 24 May 2010 06:07 AM PDT

The lives enjoyed by small business brokers involve great income, terrific freedom, lots of fun and many other benefits of working for yourself in this exciting service business. Or does it? Let's examine some of the myths.

Models Are For Breaking

Posted: 24 May 2010 05:51 AM PDT

Lately I have been speaking to a number of people who are a bit, well, trapped by their own thoughts and preconceived notions. It is alarming how so many fall into this trap, and why I'm bringing it to you today.

the hobbit trailer red velvet cake recipe josh krajcik porphyria cinnamon rolls krampus robert de niro

nascar bristol narwhal st louis university mario manningham mario manningham williams syndrome hoya