Contriving Smart

Contriving Smart 12/25/2014
As we approach the end of 2014 we might consider looking at one of the major mis-steps that I made throughout this past year. I had forecast a major increase in hyper-inflation beginning in July of 2014 and continuing into 2015. All of the flags were present.
The Federal Reserve ignored the drought conditions of the Southwest, they ignored the sell-off of cattle in south and west. The Federal Reserve also continued to look the other way at foreclosures, even though they slowed down, they were still occurring at alarming rates through the first two quarters, they refused to include the pricing of petroleum and food staples in inflation numbers presented to the public to maintain their lower expectations of an inflation number of 2.5%.
As these costs to the public were rising, in general, food staple costs rose 7 to 12 percent in 2014. Petroleum crude oil barrel prices were stagnate at $111.54 throughout the year. This equates to an average gasoline cost of $3.48 (not including State Sales Tax) per gallon to the consumer at the pump. Now, looking at back at this price in July as I had forecast, and looking at to today’s pricing of $1.99, add that amount back into the pocket of every American pocket and look at what it can do to spur growth in our local, state and national economy. It has the ability to make me look very foolish and very Wrong!
So, my concern in my evaluation was, “Al, what did you miss? What sign, what flag was hidden from you that you missed? You were in London when China sign the Banking bill to open their new bank by-passing the US, shutting out the US Dollar as the Reserve Currency. What did I miss? This was huge, China was opening banks around the financial centers of the world and denying the US Reserve Capital income in the hundreds of billions of dollars that could have a devastating financial impact upon our economy and send us in to a spiraling inflationary cycle as “I” was predicting……
Well, I figured it out, I resolved the mental crisis, I got it a few weeks ago, I observed it, I knew, I just did not take its full weight into consideration. It happened On March 17, 2014, with President Obama issuing Executive Order 13661. Within the order, the President virtually wages economic war upon Russia’s Petroleum Industry and its Ruble, the order states in brief:
“..14 defense companies and individuals in Putin’s inner circle, as well as imposed targeted sanctions limiting certain financing to six of Russia’s largest banks and four energy companies. We have also suspended credit finance that encourages exports to Russia and financing for economic development projects in Russia, and are now prohibiting the provision, exportation, or reexportation of goods…”
The order goes even further and attacks the Russian Federation’s ability to develop and bring petroleum to the global market by sanctions in stating ;
“..exploration or production for deep-water, Arctic offshore, or shale projects that have the potential to produce oil in the Russian Federation, or in maritime area claimed by the Russian Federation and extending from its territory, and that involve five major Russian energy companies…”
This singular action in conjunction with the other G-7 nations of placing these sanctions upon the Russian Federation set the wheels in motion for a global economic rebound that benefits those of wealth and trickles down to the masses like snowflakes on a Christmas day.
So you may ask, “Al, give me a break, how does this impact US/Global gas prices and improve our economy…”?
Well over the period of a few quarters, it has demonstrably impacted us very heavily in this manner and history proves it. In the fall of 1991, then President George Bush (41) along with Federal Reserve Chairman Alan Greenspan created roughly $240 billion in bonds in an effort to buyout the Soviet Union as part of a broader program of ending the Cold War via an attack of the economy on the former Soviet Union. Hind sight shows, President George H.W. Bush had initiated a number of related covert operations to takeover certain sectors of the Soviet economy such as: “energy companies, banks, suspended credit finance, prohibiting the provision of exportation, collapse of the ruble, so Moscow faces the specter of depression…”.
At this time Vladimir Putin was KGB and very good friends with former CIA Director, former Ambassador to China, former Vice President of the United States , still Oil Tycoon, and the then, Current 41st President of the United States George Bush. He helped with the overthrow of Chairman Gorbachev and to put Russian oil tycoon Mikhail Khodorkovsky in prison in early 2003. This allowed for them to take control of the vast oil, gas fields and reserves of the then Soviet Union allowing Exxon-Mobile and Chevron Texas to take very sizable controlling interests of these resources through some very shady price fixing arrangements involving various shell companies, financing agents from locations such as: Cyprus, Isle of Man, British Virgin Islands, Turks and Caicos Islands, and other offshore tax havens.
BY taking control of these highly productive wealth centers, President Bush (41) and Federal Reserve Chairman Greenspan were able to virtually liquidate the financial center of the Soviet Union within one (1) year. They reduced the Ruble value by over 80%, drove the Soviet economy in to a spiraling hyer-inflationary state, thus bankrupting their military economy by effectively removing the very resource that allowed them to move and transport product, “Petroleum”.
Today, this is exactly what the Obama Administration is doing in conjunction with the G7 powers. They are effectively waging economic warfare upon the Russian Federation under the guise of the Ukraine incident.
The benefit to the world is that by attacking the Russian Federation Oil & Gas Industry, it simply lowers the global price of petroleum by inserting a glut of petroleum into the reserves. In other words, we have an oversupply in the demand equation. This implies directly that prices must go down to maintain a competitive environment.
The people win by default (temporarily for the time being, “trickledown effect”) by having lower prices and more disposable income in their wallets for the time being. The smart person will use this money to pay-off or reduce debt load as opposed to spending on wanton desires or be hooked into holiday spending.
I will have more on this topic in the coming days and weeks. But I wanted share my mis-step, clear the air and let you know what is taking place and not be mislead by the wild storied that the “Economy is finally making a comeback”!! This is far from the truth. Inflation is still with us.
Prices have risen in 2014 on average 7%. FritoLay prices are up almost 20%, Dairy 12%, Canned Goods 13%, Produce 18%, until December Petroleum was steady at $3.22 (depending upon State Sales tax), Property taxes were rising at 5%, and Savings were a mere $0.02. Wow, but, banks still charged upwards of 15% to 18% on credit cards, 8% for car loans, 4.2% for home loans and foreclosures continued but at a lesser pace, but they were still happening, the news media just did not cover them as well.
Lastly everyone is talking about how well the market is performing (NYSE). It is performing well, over 18,000 points!!! Yeah, for the very wealthy, BOO for the 79% of the population that is not in the market. That is correct, How many of you actually “personally own stock? How many you buy or sell stock yourself? Not IRA’s or Mutual Funds, 401k’s, but personal stock ownership? That is what I am referring to. The market is paying big to those able to personally participate, and it is not the small investor that is making out so well, most of the small investors are breaking even or losing according to ‘smash reports’. The big Investor is the winner right now. And, Win he/she is. Do not be misled by the media on this. Unless you understand the market, players, who, and where the growth of the market is taking place, do not get sucked in.
It appears that most of the gains are going to those that know about what is taking place with the Russian Federation and the Gas and Oil Industry, Certain Financial Sectors and of course the everlasting Military Industrial Complex. But, if you do not know who is getting what contract, you do not know who’s stock to purchase in advance (something called ‘legal insider trading’)………..
This is what is going on. Beware of false flags. We are in a false bubble right now. The sanctions are working exactly as the G7 hoped. The only thing that will change this is if China props up Putin’s Federation. I have observed stranger things. If China needs petroleum, they might do it. But, our economy is not on the rebound, this is only a band aid and Congress has nothing to do with it. Congress may however mess it up if they are not careful.

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Thoughts for October 08, 2014

Thoughts for October 08, 2014

Was there a setback on October 07, 2014? US stocks took one of their most precipitous drop since July, a 275 point drop, not pretty, but with a steady vertical trend over the past 60 days many would consider this a minor adjustment. I have stated since July 01, 2014 that the market would shift upward due to midterm elections and that both parties would do all in their powers to put the brightest face on the economy that they could to make their respective party appear to look good in light of, a really ‘crappy economy, that has been perpetuated by an equally lousy Congress, that has failed at every juncture to do its job, and has maintained a dismal approval rating of less than 12% as reported by  Real Clear Politics as of September 29, 2014.

It is no coincidence that it happened on the same day that the International Monetary Fund (IMF) cut its outlook for next year’s global economic growth. The IMF cut its forecast for global growth to 3.3% in 2014 down from 3.4% and lowered its 2015 forecast citing regional weaknesses including Europe and potential geopolitical risks of the Middle East. The Eurozone economy is genuinely struggling, investors are extremely anxious about how this will affect large US enterprises. Even the Germans who have appeared to be in control of their economic dominion , have demonstrated weak metrics recently which tends to make everyone in the European Union queasy.

On the home front, HP first announced its redesign / restructuring plans in 2012. Those plans included the lay-off of more than 25,000 workers. But, then at that time, HP would cut 27,000. By June of this year, it had doubled the target, to 50,000, with 36,000 employees already gone.

On this Monday past, it bumped up the new layoff target, yet again, to 55,000. Even so, HP remains an enormous employer, with over 330,000 employees worldwide, and that means that when HP reorganizes itself, it will likely make even more cuts. However, when we look at the US employment, we must be concerned with how many American jobs will be lost and be concerned with America first!

As I originally pointed to back in July is that after the midterms, watch for rapids inflation, (hyper-inflation) it has already begun. Frito-Lay has increased prices in September by as much as 20%, Produce has risen by as much as 14%, in general food costs for the past 90 days have increased an average of 5.83%. The Federal Reserve will not include these numbers in their inflationary figures as demonstrated in Janet Yellen’s commentary before the Senate in July/August hearings. Fuel prices are being kept artificially low. Why? Midterm Elections! On October 7, 2014, national news reported (ABC news) that winter heating fuel prices would be rising ‘very high’ in comparison to last year, which is very curious to me. I find it curious as we are not fighting any war in Iraq or Afghanistan so our US military fuel consumption should be lowered by over 250 million barrels per month. So would cost go up if consumption is down?

Here are some thoughts on the current economy for you to give consideration. Please look at all your candidates carefully. This election is important. Parity in both houses is important, when one house is dominated by one party whether at state level or federal level, nothing is ever accomplished. Parity forces both sides to talk with each other, to work in the interests of the people, not their own agenda’s.

Lastly, if you think multi-millionaires / billionaires are going to represent the best interests of those that make $38,000 per year, think again……… but who am I but a humble economist…………………. (Unproofed)

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The Honorable Darrel Issa

May 04, 2014


To:          The Honorable Congressman Darrel Issa                    

               2347 Rayburn House Office Building;                                           

               Washington, DC   20515                                                                              

Congressman Issa,

I am not a constituent of your district, but I am a constituent of congress. We have serious matters before our nation. As a Political Scientist and Economist the most serious issue before our nation is the upcoming ‘continuing resolution’. The Congress with which you serve, the same as that of my Congressman Justin Amash, have wasted valuable time and scarce economic resources on such issues as Benghazi by attempting to link former Secretary of State Clinton to some obscure linkage that she , provided military instructions of a “stand-down order” is simply disgraceful to the military and our government.

I would believe you have read, (possibly participate in ‘Closed Door’ congressional testimony) of Admiral Mullen and Ambassador Pickering last June which support the position that: “..”We found no evidence whatsoever that [Clinton] was involved in security decisions” about the compound in Benghazi, Mullen told investigators. “She did not have such a role,…”

That being said, I implore you in the name of the American Public with which you are sworn to serve, to take advantage of the power of your committee and its resources and Reform the budgetary process that will force OUR/Your Congress to do its job and create an operational budget that achieves and meets the needs of the American people and this nation within the time frame as designed by the founding fathers and create an end to ‘continuing resolutions’that defy economic logic.

One of the greatest dis-services our congress has done to this nation over the past two congressional sessions is its lack of financial guidance. Without a budget in place that provides a road map to direction of achievement of goals, our nation flounders and the Federal Reserve reaps the rewards of our treasury through untold amounts of interest collections and private asset attainment. Over eighty percent of American’s suffer from the loss of asset wealth of their property values that have plummeted from the banking scandal of 2008 and the cover ups of collusion and banking fraud that was perpetuated upon the American public.

Lastly, the most disgraceful of all acts, the Department of Defense and its failure each year to balance its own budget and demonstration of hundreds of billions and even trillions of dollars of write-offs of losses that go unaccounted. As reported by then Secretary Rumsfeld on September 10, 2001 the unaccounted for $2.3 trillion and the previous year of over $1 trillion dollars. I shall offer one of the reports that I have followed from 2006 here for your review in short:

Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation’s Financial Condition and Long-term Fiscal Imbalance

March 1, 2006, Government Accountability Office (formerly Government Accounting Office) – Official .pdf version of 2005 report summary on GAO website

       – Non-.pdf version

GAO is required by law to annually audit the consolidated financial statements of the U.S. government. Until the problems discussed in GAO’s audit report … are adequately addressed, they will continue to … hinder the federal government from having reliable financial information to operate in an economical, efficient, and effective manner. For the ninth consecutive year, certain material weaknesses in internal control and in selected accounting and financial reporting practices resulted in conditions that continued to prevent GAO from being able to provide the Congress and American people an opinion as to whether the consolidated financial statements of the U.S. government are fairly stated in conformity with U.S. generally accepted accounting principles. Major impediments to an opinion on the consolidated financial statements continued to be (1) serious financial management problems at the Department of Defense. The federal government’s fiscal exposures now total more than $46 trillion, representing close to four times gross domestic product (GDP) in fiscal year 2005 and up from about $20 trillion or two times GDP in 2000.

I find this ongoing exacerbation of Benghazi fruitless and of zero benefit to the American Public when YOUR Committee is charged with upholding Constitutional validity and these most important issues have gone ignored, covered up and swept under the table in the name of political gamesmanship.

My students ask me day in and day out “why are we not addressing these most serious of issues?” I cannot answer then except to say “party politics”. I am tired of that answer. I demand more, I expect more. You are the Committee Chairman, you set the agenda, please share with me what to tell my students and those that I publish with your answer to the serious nature of our nation’s most delicate of problems and why you chose to not focus your reform matters on issue that HELP the American Public as opposed to creating divisive issues that impact only a specific political agenda?


Albert S. Abbasse

Political / Economist

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THE NEFARIOUS CONGRESSIONAL LEADERS MISSED BUDGET DEADLINES Unprecedented Disrespect for the Constitution of the United States

Speaker of the House Boehner, Minority Leader Eric Cantor and House Budget Committee Chairman Paul Ryan have all failed America in their leadership of the United States House of Representatives. Under their leadership, Congress has not passed a budget since 2010. What has been passed are “Continuing Resolutions,” resolutions that do no more than perpetuate the financial deficit that they insist is due to the failings of the administration. Under the leadership of Speaker of the House Boehner, a stream of Continuing Resolutions has been passed in place of Legislative Budgets for FY 2011, 2012.
Current Congressional leadership has implemented the Continuing Resolution over seven times. A recap of those actions as published by National Priorities demonstrates extreme prejudice toward the rule of law. (Dana, 2011)
PL 111-242, Oct 1 – Dec 3, 2010
PL 111-290, Dec 4 – Dec 18, 2010
PL 111-317, Dec 19 – 22, 2010
PL 111-322, Dec 23, 2010 – Mar 4, 2011
PL 112-4, Mar 5 – 18, 2011
PL 112-?, Mar 19 – Apr 8, 2011
PL 112-10 July 26 – 2012 “..This joint resolution may be cited as the ‘‘Continuing
6 Appropriations Resolution, 2012’’.
It is extremely important to understand that Congress is completely and ultimately responsible for the Budget of the United States. As stated in the Constitution of the United States,
“..No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time….” Article 1, section 9, clause 7
Congress may write all of the Public Acts it so wishes. Public Acts such as “The Budget and Accounting Act of 1921”[BAA of 1921] require the President of the United States to
“..submit his budget request for the upcoming fiscal year no later than the first Monday of February…”
The BAA of 1921 created the Bureau of the Budget (called the Office of Management & Budget, or OMB); by design, it was sequestered within the Department of the Treasury. This provided immediate access of the Executive Branch to the full budgets of all governmental units. Also, arising from this was the General Accounting Office (GAO) which functioned as the Congressional unit’s point of access. The Act, however, placed certain restrictions upon each branch such as the aforementioned. A series of fiscal power grabs occurred over the 20th Century. Franklin Roosevelt, in 1933 and 1939, issued the Executive Reorganization Plan, which provided more, let us say, “Leeway” in budget appropriations. Richard Nixon changed the name to Office of Management and Budget through Executive Order 11541. The order required all department, agencies and cabinets to direct their individual budgets through the OMB for review and approval.
In 1974, Congress was not too happy with the way the Executive Branch swiped such a controlling interest in the budget. Congress passed the Federal Budget and Impoundment Control Act of 1974. Realigning the priorities of Congress with a centralized approach; the creation of the new Congressional Budget Office (CBO), with particular deadlines that each branch of government must fulfill to present a timely budget to reduce the deficit was enacted. As history has proven, this has failed to work out well for neither branch, nor the people of the nation.
There are many more examples of the changes and modifications to this process such as the following:
The Economic Recovery Tax Act (1981)
Gramm-Rudman-Hollings: The Balanced Budget and Emergency Deficit Control Act (1985) This was subsequently overturned by: The Supreme Court, Bowsher v. Synar case (92 L. Ed. 2d 583. The SCOTUS ruled this a violation of the separation of powers
The Emergency Deficit Control Reaffirmation Act of 1987 to repair Gramm-Rudman
Budget Enforcement Act of 1990
Omnibus Budget Reconciliation Act of 1993
Each of the above pieces of legislation attempted to do certain things. The first of which was congressional reinsertion of legislative leadership; the second, to restore some sort of order to a very serious and contentious problem. The budget was becoming time consuming, unmanageable and unpredictable. Budget planning became a titan of divisiveness – the only thing either party or the Executive Branch could agree upon was the three arenas of discretionary spending: more defense spending, more domestic spending and more foreign aid.
The Budget Enforcement Act of 1990 was intended to create opportunity of balancing the budget. It was called a “Pay as You Go” program. New programs had to be paid for or other programs would be deleted. “Pay as You Go” was controlled by the Executive Branch, for the most part, when goals were not attained. This program would be a precursor to the current rage of ‘Cap and Trade.’ To obtain a new program when available funding was not present, a swap could be created between units, agencies, departments, etc., to appropriate the monies.
“Firewalls” became the rage of the 1990’s. Firewalls were legislated into place to halt spending at specific points. However when the legislative or executive branch tried to affect, they found they could not take from one of the three distinct arenas because that surplus had to be applied to the debt of the nation.
One of the major avenues to reduce spending was the attempt to institutionalize a process called “sequestration.” Under the BEA-1990, the Executive Branch controlled sequesters. So if a budget deficit goal, or the ‘cap,’ was exceeded upon a particular program, the President could invoke sequester. The difference between then and now is that with “firewalls” of today, sequestering may occur within the firewall and automatically invokes budget cuts across the spectrum of the budget to achieve the desired maintenance of that budget.
It is very clear that within the constraints of the Constitution which branch of government is responsible for the budget’s preparation and the process. As each branch jockeys to obtain more power for itself, we have concerns and issues such as we have had for the past five administrations. With the advent of political party strength, each party has attempted to, through legislation, advance Presidential Powers and require the executive branch to take the lead on the national budget.
This, however, is very detrimental to separation of powers, to each branch and to the citizen constituent. The reasoning is quite simple: If the legislature does not want to do their job, wishes to write legislation to give those responsibilities over to another branch (the Executive Branch), they should pass an amendment, using the amendment process, to eliminate the legislative branch, thereby appointing the Executive Branch to the position of King/Queen which was one of the reasons why the constitution was written… to not allow for a Royalty/Totalitarian national leader that would control the Revenues and expenses of the nation.
The question now before the people is how to repair the damage done. How do the people interfere with a l¬egislative branch that chooses to ignore the demands of the people, demonstrates a loyalty to specific interests within the nation and brazenly puts American economic interests in peril?
Congressman Ryan of Wisconsin stated in 2012:
“The decision to delay the release of his budget again could not come at a more precarious moment for our fiscal and economic future…”
As demonstrated above, the President is not required to submit a budget. The President is required by Public Law to “…submit his budget request…” The intent of the law is to have the President share his intent and direction – within the constraints of budgetary requirements – to further allow a smooth transition of economic resources that meet the needs of the nation. Congressman Ryan failed to inform the public that no matter who is at fault, no matter who is mistaken, no matter who is right, Congress is ultimately responsible to complete the budget based upon the “Rule of Law” which happens to be the Constitution of the United States.
For Congressman Ryan, and his fellow congressional members, to continue to deride the President about the deficit (which has been reduced by $2.7 trillion, according to Marc Goldwein, CRFB’s senior policy director) is simply drama and deflection.
Speaker of the House Boehner, Minority Leader Eric Cantor and House Budget Committee Chairman Paul Ryan have all failed America in their leadership of the United States House of Representatives. They have failed to uphold the duties they pledged to support. Through their nefarious actions, they have created the fiscal cliff with one simple intention: to place an attack on Social Security, Education and those unable to defend themselves. They obfuscate Public Acts but fail, at the highest level, to follow and enforce the “Rule of Law” of our Constitution of the United States.

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Impact of the 2001-2003 Bush Administration Tax Relief Acts of the Fiscal Cliff

The Bush administration brought the Economic Growth and Tax Relief Reconciliation Act in 2001 (EGTRRA 2001), they brought the Job and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA 2003). These two actions were heralded as being the best opportunity to spur growth in a sagging (sic) economy. He took office in January 0f 2001, he had a $450 billion budget surplus; the economy was stable but was showing some signs of slowing. This in and of itself was not bad after eight steady years of growth, the US and the world had to catch up. This is simply part of the market fluctuation of ebb and tide. The Bush 43 administration did not want to have anything to do with a decline of the economy; they wanted fast and furious growth.
The Relief Act of 2001 was designed to give the wealthy a hefty payday, a tax reduction of 4.9%. The graduated tax rate in 2001 for the wealthiest in the nation was 39.9%. This reduction would total approximately $2.5 trillion over the period of the administration. Another way to view this, the wealthiest in America earned $250 billion dollars a year at the tax payers’ expense. The President argued that there would be a $5+ trillion budget surplus during his administration and the money should be returned to the people. He just happened to give the biggest share back to the Wealthiest 5%. He further argued that the tax cut would stimulate the economy and grow jobs.
The attacks of 9/11 further created a drain on the economy. The response of the administration was to increase defense spending (Military Industrial Complex) by 107%, and Increased the number of economic regulatory governmental employees by over 91,000. This was to take a very sweeping toll upon the American economy causing severe deficits to follow.
Then in 2003 with a further sagging economy, the administration needed to shore up the tax reductions of 18 months earlier. They needed to fix and modify the loopholes and allow for off-shoring transactions, further the need to reduce tax effects on dividends and capital gains.
These two acts, along with slurry of other misguided steps by the Bush administration created the bellwether of actions to come that Neo-Conservatives would care little for. Two unfunded wars, ongoing tax reductions that benefited the wealthiest of this nation, an onslaught of deregulation of financial organizations all tied to offer the opportunity to obtain private government contracts that assured the payroll and ‘profits’ that big commerce could not obtain upon their own. These government contracts were paid from our government’s treasury.
The last and most important point to clarify is that the Bush Era tax relief efforts were designed with a “Sunset Date”. Sunset Dates are written into legislation for a few different reasons. One is to allow legislation to be used for a specific temporary purposes, such as; stimulating the economy, directing
So how did we get to the “Fiscal Cliff”?
The Fiscal Cliff as it is termed was fabled about 20 months ago when the President and Congress could not come to an agreement on raising the ‘Debt Celling’. This was in part related to a few other matters such as: allowing the Bush (43) era, EGTRRA 2001 and JGTRRA 2003 tax relief programs to expire, and also the spending cuts which will be implemented should they not agree on legislation to resolve. The term itself was coined by Ben Bernanke, Chairman of the Federal Reserve when he was addressing the potential of severe economic strife for the nation of Congress did act in a responsible manner.
So as we now know, Congress and the President are still, extremely separated on direction, economic policy and what is in best interest of the nation and the people. The debt ceiling issue will continue to be a wrangling point, but it will be used in hostage taking manner, similar to positions that the Congressional Leadership has tried to apply in previous negotiations.
It is my opinion, and there are others that agree with my position, that Social Security is one of the golden rings that the GOP wants for the very wealthy bankers and elite investors within this nation. If they (GOP) are able to wrest control of the future Social Security Investment for “Wall Street”, well they will make profits of unimaginable growth at the expense of the people and also ‘Privatize’ guaranteed investment funding by the American Treasury for “ever”.
But, the battle over the fiscal cliff was made very clear by the GOP this month, they announced very clearly that they are ‘working for the wealthiest’ in this nation. They negotiated solely on behalf of the wealthiest to not return to pre- 2001-2003 tax rates. Even though the rate was returned on those earning above $450,000 the reductions and modifications of the EGTRRA and JGTRRA are still in place and, they, (the wealthiest) still have greatly reduced their taxable liability through those legislative changes.
I do not foresee any improvement in negotiations for the future. I envision much more stalemate, gamesmanship and inaction by the Congress. We have observed Europe’s growing financial crisis. We have observed first-hand the failures of deregulation of financial institutions, waste of public funds on so called privatization, under-capitalization of lending projects for not properly valuing and inflating of costs, lack of “Economic Growth” , removal of liquid capital (cash) from global markets, and lastly the biggest failure of all; severe budget austerity. You may only cut so much before you strangle an economy and by all appearances, that is what is taking place in Europe and the United States. Keep people poor and working to survive and they will not cause problems and leave the wealthy alone to do their financial thing without encumbrance.

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Quick review of Romney Energy Policy


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Global Monetary Policy

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