"Whenever the people are well informed, they can be trusted with their own government; that whenever things get so far wrong as to attract their notice, they may be relied on to set them to rights." - Thomas Jefferson
A troubling thought has been keeping me awake at night, and the more I think about it, the more it bothers me. It all started a few days ago while I was searching through the U.S. Social Security Administration's 2008 OASDI Trustees Report. The following, with emphasis added, is an excerpt from the introduction of this report:
"The Board of Trustees was established under the Social Security Act to oversee the financial operations of the OASI and DI Trust Funds. The Board is composed of six members. Four members serve by virtue of their positions in the Federal Government: the Secretary of the Treasury, who is the Managing Trustee; the Secretary of Labor; the Secretary of Health and Human Services; and the Commissioner of Social Security. The other two positions, which are currently vacant, are for members of the public, to be appointed by the President, subject to confirmation by the Senate."
As hard as I try, I cannot seem to understand how these two positions could be left completely vacant at such a critically important time, when now more than ever we need visionary leaders to guide us through difficult circumstances and an uncertain future. Who do we expect to look after our best interests if we ourselves will not? And how can we possibly hold politicians accountable for taking trillions of dollars from the Social Security trust fund when we the American people are denied our rightful advocates?
Sources:
U.S. Social Security Administration - 2008 OASDI Trustees Report
(Section I, Introduction)
Source: blog.pactamerica.com
EJ (15.40 Delayed Quote): At/Above PivotS1[15.13] (Z2Rch:29%, Sup:92%), lm:-4, PrvCHi, AtPivS1, MedFlt[38.4M], PrvClGap-:-435%chg
EJ (15.40 Delayed Quote): At/Above PivotS1[15.13] (Z2Rch:29%, Sup:92%), lm:-4, PrvCHi, AtPivS1, MedFlt[38.4M], PrvClGap-:-435%chg
EJ [?]: E-HOUSE HOLDINGS ADR -- Financial / Property Management
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A Smile for a Suit
I never imagined that a set of clothes could put a smile on my face, but that was before I tried on my new suit.
Last Tuesday after work, I walked down to the Brook Brothers store located on LaSalle and Adams near the Chicago Board of Trade.
Almost every wall had wooden shelf cases with shirts stacked practically to the ceiling. And upstairs, it seemed like there were enough suits to clothe an entire town. After first trying on a dark navy jacket, I chose a two-buttoned grey, and a trim, white-haired man made small chalk markings on the fabric while he took measurements.
This expert tailor finished my suit today, and I picked it up this evening.
And as I was walking back, I realized that most of what I was wearing happened to be made right here in America. The suit I was carrying. The shirt I was wearing. My belt. And even my underwear. All had a “Made in the USA” label.
At that moment, in the light of the setting sun, I took satisfaction in completing a long day of hard work. Because I had given thought to my purchases, other Americans could also share in the pride of a job well done. And I smiled.
Source: blog.pactamerica.com
MHS (45.03 Delayed Quote): Encountering Heavy Distribution (PotSHRT)
MHS (45.03 Delayed Quote): Encountering Heavy Distribution (PotSHRT)
MHS [?]: MEDCOHEALTH SOLUTNS -- Services / Drug Stores PPH $SPX
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A Run-of-the-Premium-Coffee-Mill Recession?
I was working late tonight, and wound up leaving the office around 2:30 AM. When I got home, I decided to quickly check the news on CNN.com.
Earlier tonight, President Barack Obama appeared on television to plead the case for his economic stimulus plan, which would cost an unprecedented $838 billion, citing that this is not a "run-of-the-mill" recession.
However, the lead story on CNN.com was about Starbucks offering a coffee-breakfast combo to attract more customers in these trying economic times.
I can't help feel like the government, and the media, is increasingly out of touch with reality. While some might lead us to believe that current economic times are the worst since the Great Depression, the comparison seems hardly justified. Back then, devastating poverty, hunger, and homelessness affected millions of people.
It just seems like there's a big difference between being able to afford basic necessities versus not having enough extra money in the budget for premium coffee.
I'm not trying to make light of the situation, nor am I being cynical, but something just doesn't seem right here.
Source: blog.pactamerica.com
WLT (31.32 Delayed Quote): At/Below 1DyLo50%R[31.08, 5m, 0.38offLo], lm:-7, DyRng:3.28, PDayGp+, MedFlt[52.0M], Gap-:-279%chg[-4.1%], 1WkLo-
WLT (31.32 Delayed Quote): At/Below 1DyLo50%R[31.08, 5m, 0.38offLo], lm:-7, DyRng:3.28, PDayGp+, MedFlt[52.0M], Gap-:-279%chg[-4.1%], 1WkLo-
WLT [?]: WALTER ENERGY, INC -- Basic Materials / Industrial Metals & Minerals
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A Suitable Change
This morning (Saturday) I went down to the bank and purchased $200 worth of paper Series I bonds. Even though I've been doing a good job of saving lately, the amount of this investment is less than I would have liked. That's because I'm anticipating higher expenses for the month, as yesterday the company I work for tasked me with buying a business suit for an important upcoming meeting.
Believe it or not, I've never actually owned, or even worn, a suit before. Though I wear dress shirts on an almost daily basis, I typically roll up the sleeves within minutes of buttoning my shirt, and it's been so long since I've worn a tie that I've forgotten how to tie one.
And so, this week I'll set out to buy my first suit. I'm planning to look at one of the men's clothing stores in downtown Chicago, in search of a suit that fits both my frame and my budget.
Only three years ago, I could scarcely afford the cost of a new pair of jeans, and would stay up late stitching patches to repair the burns received from hot sparks of steel that sprayed upon me as I welded. Now I'm a position to enlist the help of a professional tailor.
Aside from this, I'm still a man working hard to accomplish his goals—that part hasn't changed. And while it's been said that clothes make the man, I believe that men are made by actions, not appearances. The strength of a warrior is found not in the breadth of his arm, but in the depth of his heart.
Source: blog.pactamerica.com
$700 Billion Bailout
This is not a corporation--it's a country! This is not of the corporation, by the corporation, for the corporation--it's of the people, by the people, for the people!
Earlier tonight, Congress came one step closer to passing a $700 billion bailout package for the financial industry. While I am not one to rush to judgment before knowing and understanding the details, my initial reaction is one of anger!
In fact, I am reminded of a drawing I made a few years ago, with the American flag depicted as a combination of corporate bar codes...
Regardless of whether the situation warrants a bailout or not, I firmly believe that the current credit crisis has been caused in part by the federal government. In addition to the constant manipulation of interest rates, continual federal budget deficits have vacuumed increasingly large amounts of capital from the credit markets, sucking up money that might otherwise be used for legitimate lending and productive business activity.
Source: blog.pactamerica.com
Custom List: My Links
My Links
My main website, which is still under development.
Satirical comedy site that pokes fun at Basildon - hilarious! :-)
My company site.
My street site
Source: mcrosby.spaces.live.com
I.O.U.S.A.
Tonight after work, I went to see the new documentary I.O.U.S.A.
The film focuses on what it identifies as the four major deficits in America: the federal deficit, the savings deficit, the trade deficit, and the leadership deficit. And while the subject of economics does not usually make for edge-of-your-seat excitement, I thought the presentation was very educational and engaging. I liked it!
Source: blog.pactamerica.com
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