Who is the real Maverick?

An interesting change is already happening in Washington, with the President Elect, Obama, having a productive meeting with John McCain. This is the first time since before the Presidential Campaigning that the two men have sit down to discuss the issues together in a bipartisan way.

In the news article on ABC News website the writer Jake Tapper tells us, The two later released a joint statement, saying, "At this defining moment in history, we believe that Americans of all parties want and need their leaders to come together and change the bad habits of Washington so that we can solve the common and urgent challenges of our time. It is in this spirit that we had a productive conversation today about the need to launch a new era of reform where we take on government waste and bitter partisanship in Washington in order to restore trust in government, and bring back prosperity and opportunity for every hardworking American family."

Yes it looks as if John McCain, who claimed to be the Maverick is out Mavericked by Obama whom McCain called 'That One'.

3 Major Auto Industries Blame Who?

It is Saturday, November 15 2008. A week after the election economic troubles is still brewing for GW Bush's year end. The Final days till January 20, 2008 are still filled with more financial evils with the 3 major American auto industries now threatening to lay off workers if they do not get a bail out. It seems so strange to me that just before the November 4 2008 elections, the American auto industry said nothing of any problems. In fact, they hid their predicament so well. So why did they all of a sudden feel they needed to make the demand? Just what brought that on? Would those 3 American auto makers had made the same threat if the Republicans, McCain and Palin, were elected?

Yet the same old imaginary villain who the 3 American auto makers blame are the Unions. It seems that the same old song of the Republicans and the manufacturing industry is to cry about how the Unions are to blame for the over spending, over extending mistakes of the Companies. Yeah it seems the Old 3 Manufacturers are following suite of the companies of our past of bellowing out that Old Republican refrain from Reagans time of blaming the Unions instead of taking a good look into their own mirrored past that could explain why their present situation has come to pass.

Those 3 auto makers had been sending jobs over seas as they opened new manufacturing plants in other countries where they were building the more economical cars for decades, while they laid off employees, down scaled work and jobs, and closed a few auto plants here in the States. During these last 8 years of GW Bush administration, toward the end of the year, at least one of the auto giants here in the USA has laidoff some of it's workers. But when you add the number of those laid off during these last 8 years, you can begin to realise that the auto makers have caused this negative aspect themselves.

How can Americans buy the goods and services in this country, if the American Businesses keep laying off the American workers in this country while closing up shop in this country? Yep, it still has not occurred to the American Corporations that taking jobs away from the American worker also takes away the buying power of the American middle class worker. The American companies have yet to figure out that by making the American Middle Class Worker unemployed and devaluing the work of the American Middle Class Worker has stripped away 'The Cycle of the Economy'.

When will the companies realise that every time they make Americans unemployed, those same companies which relied on the American consumer, just keep shooting themselves in the foot.

Campaign Lies

Yesterday, November 4th 2008, a Democrat who is a Black man named Barack Obama was elected to be president. Of course he will be sworn in during the inauguration ceremony on January 20, 2009 Inauguration day. But this campaign was unlike any other. There were the lies and innuendo, which we do normally experience. But this time, we actually had a fact check to mark the lies. John McCain, the Republican candidate told quite a few out right lies. Of course my list only has a few of the false, misleading, lies. I only went as far as one month's worth.

John McCain and his running mate Sarah Palin called Obama a Socialist. They said over and over again that Obama was going to share their supporters wealth and distribute their income to others. They had a Joe the plumber who they paraded around as proof because Joe the plumber said that Obama's tax plan sounded like Socialism.

Well Fact Check called that misleading (a lie). According to Fact Check During the panel discussion, Obama talked about court rulings and "redistributive change" from a historical legal perspective but there's no indication that he was advocating "redistributing wealth and income" which McCain and Governor Palin lied about. That also means that Joe the Plumber whom McCain and Palin had campaign with them also lied when he said that Obama's tax plan sounded like socialism.

John McCain and Sarah Palin claimed that Obama has Political links to Khalidi whom they claim is a Muslim terrorist.
What was the verdict from Fact Check regarding John McCain's claim against Obama? The verdict was considered misleading (a lie), since John McCain chaired the IRI which funded the CPRS which was co-founded by Khalidi.

And what was the verdict from Fact Check regarding Sarah Palin's claim against Obama? The verdict was considered misleading (a lie), While Khalidi eight years ago hosted a political fund-raiser for Obama, the two men strongly disagree over the Israeli-Palestinian issue and there's no evidence of a continuing political relationship.

John McCain made the statement: "According to the independent Center for Data Analysis, Barack Obama's new policies will destroy nearly 6 million jobs over the next decade."
What was the verdict from Fact Check regarding John McCain's claim against Obama? According to Fact Check the verdict is False (a lie). The study does not say Obama's plan would "destroy" jobs.

John McCain said that Obama and Biden are inconsistent on who will get the tax cuts. According to Fact Check the verdict is False (a lie). What McCain is doing here, in part, is comparing apples and oranges. He compares two different aspects of Obama's tax plan as if they were the same. And Biden never said people making less than $150,000 are the "only" people who would get a tax cut under Obama's policies.

McCain's VP running mate Governor Sarah Palin stated that Obama only served 300 days in the Senate before he became a presidential candidate.
What was the verdict? According to Fact Check that statement was false (a lie). Actually Obama served 743 days in the Senate working. Now 304 of those days he worked while the Senate was in Session. But the Senate works in the Senate even when the Senate is not in Session. So again, according to Fact check Sarah Palin lied.

McCain made said, "Sen. Joe Biden, Obama's VP running mate, had this cockamamie idea about dividing Iraq into three countries."
What was the verdict? According to Fact check it is false (a lie). Biden proposed decentralizing Iraq's government, but not breaking up the country.

Change Is Here

I have witnessed many things in my life time. At 4 years of age in 1957 in Chicago Illinois, I witnessed my father being told that he had to sit in the back of the bus, but because I was white looking the bus driver told my father that I could sit in the front. Even then I had the good sense to grab my father's hand and say, "Daddy, I want to sit with you."

At the age of 12, I remember watching TV at a peaceful civil rights march led by Martin Luther king in Chicago South Side in the 1960's. I watched in horror as white men, their wives, and their children were throwing bottles and bricks at the peaceful marchers as the Police stood on the side lines and did nothing. And as the civil rights marchers were being hit by the bottles and bricks thrown at them, I witness the blood as the marchers fell.

One news reporter captured a Chicago police officer saying, "We don't want their kind here."

Yes, I have witness many things in my day. But I never thought I would ever witness a Black man elected President in my life time. God Bless the United States of America. God Bless Barack Obama. God Bless the Obama family. And God Bless the Biden family.

The Continued Global Economic Crises

It is Monday October 6 2008 9:06 am Pacific Time in the USA and our markets have began to continue their downward plunge after the markets in Asia and Europe did a downward spiral on their Monday which is our Sunday. Try to remember that those countries are one day ahead.

I just wonder, since the Bush Administration pushed for and got laxing regulations during most of the 2 terms of Bush, and since the same Financial companies, Banks, and Wall Street corporations all benefited from those laxed regulations thus being able to do their deceitful business transactions with no oversight or accountability, how would throwing tax dollars at them suppose to improve the economy?

I have a hard time with the Bush Administration concept that throwing away 700Billion of tax payers money with the 150Billion of the sweeten deal at the same scrupulous companies and their devious transactions is suppose to improve the economy.

Just HOW does it improve the economy anyway?

Asia and Europe Markets Plung after US 4th Bail Out

It is Sunday, three days after the Congress voted for the 700billion dollar sweeten deal, in the United States but it is Monday in Asia. And in the Far East the Stock Market took a plunge.

In an article written by Alex Kennedy with the Associated Press in Singapore, the Asian and European Markets spiraled downward because they could not trust that the U S government bail out was enough to help the world economic crises.

What? The Europe and Asia Markets could not trust that the US government Bail Out as enough to help the world economic crises?

Why don't they do their own bailing out? Our U S Government is using the money of the tax paying working Middle class United States Citizens to bail out the Financial corporations, the banks and Wall Street. The federal tax dollars are supposed to be used to RUN THE GOVERNMENT not bail out companies. The federal tax dollars are supposed to be used to pay for the Government services that are suppose to be provided to the US Citizens, not given to CEO's. And how does that translate into bailing out the whole world?

You know what Asia and Europe? I have some advice for you. " BAIL YOUR SELVES OUT! " Enough already!

The U S economy is on the brink because of regulations that were altered by the Republicans in the Bush White House Administration.

Maybe you in Asia and Europe also took out regulations that protected the economy, and that could be why your economy is not doing well. Do you want to fix your economy, then put the regulations in your market and corporations to prevent the destruction of the economy as well. Try it, it just might work.

Too bad the Republican Bush Administration had spent most of the last 8 years to do away with those regulations. Wouldn't it be just PEACHY KEEN to see those regulations back in play, fixing the economy?

Sweeten 700Billion Deal

It has been one and a half week of president GW Bush demanding that the Congress approve a 4th bail out bill for the Financial Corporations, Banks and Wall Street. Only this time it was 700Billion tax dollars being decided on.

However, at first the Republicans walked out of the meetings. They refused to approve the 700Billion bail out the way it was written. Of course the Democrats also did not trust the bill that was presented to them because the Democrats wanted regulations and limitations added to it.
But that is not what the Republicans were concerned about and it is not what they wanted added to it. No! The Republicans in the Senate stated they would vote for it if they rewrote it. Well they did, and the Republicans added a lot of pork which has come to be known as the sweet deal.
Yet there was NO REGULATIONS, NO LIMITATIONS, NO RESTRICTIONS, and NO GUARANTEES for the American Tax Paying working middle class people.

The 7 1/2 years of the Republican GW Bush presidency has given us a roller coaster economy EVERY SINGLE YEAR since 2001. Guess Republican Bush just wanted to leave his office with something big to be remembered for in history. And it looks like he got his wish.

The Biggest Bank Failure, Is My Bank!

I just read an article by Charles Herman and Daniel Arnall from September 25, 2008, FDIC: 'WaMu the Largest Bank Failure Ever'. What a surprise. WaMu, short for Washington Mutual, just happens to be my bank. You can bet that it took me by surprise to read it. Especially since I was never given any indications at all that there were any problems. JP Morgan Chase & Co. has bought up the working assets of Washington Mutual. It is the largest Savings and Loan bought for 1.9billion. What a bargain? Considering that it costs American Taxpayers 700 billion to bail out Wall Street. Too bad, we could bail out WaMu for 1.9 billion instead.

There was no impact on the customers and depositors of WaMu. The name will remain the same for now. Washington Mutual did have 307 billion dollars worth of Assets, which made the it possible to save the bank.

Why is this story so important? This story comes at a time when we are already dealing with our government Bailing out the companies, Financial Corporations and Banks of Wall Street for the 4th time within a 7 month period. But this fourth time bail out is using 700 billion dollars of Federal Taxpayer's money.

It makes me very angry and sick. I am especially confused. I always believed, as did most Americans, that our tax dollars paid for our Government and the Services they provide. But how can any of the Services they provide exist if the money is going for Bail out of the CEO's, Financial corporations and the Banks who all made Devious Financial Business Transactions.

We were told that the government passed the Bail out with Oversight attached. I hope there are some strong regulations and ethical restrictions prohibiting the same type of Deceitful Business transactions from ever occurring again.

Oversight Of Bank's Bad Assets

For as long as I can remember, the Republicans have always called for Deregulation. The thought of government looking behind the shoulder of Big Business never sat well with the Republicans. So came the call for Deregulation from the Republicans, Loudly and clearly as they sounded, Nixon, Reagan, Bush Sr., Bush Jr., McCain. Oh yes, Senator McCain has always sound the horn the loudest from the 1980's on.

But McCain did more than sound the horn, in 1999 McCain help sign the bill that did away with only protection that existed since the Great Depression. Yep, there was a bill that was put into law, which contain the rules of ethics for Wall Street. You see it put there after the big crash when a lot of people committed suicide after the total life savings was gone in their investments on Wall Street.

Many will say, but Clinton was president. Yes he was. But the Republicans had control of the Senate. And they finally pulled the ultimate switch and bait on the American people when we were not looking. Now add to that the 8 years of republican Bush that followed, and what we have is a crises waiting to happen.

Maybe they thought it would be when the next administration was up? Or maybe they thought they could hid it? But here we are with 4 bailouts using Taxpayer's money in just 7 months. It sounds ludicrous. I never thought I would ever see the day when Big business of Wall Street and the Financial Corporations along with the Banks would have the gull to demand that our United States government Bail them out with No Regulations to follow, No Restrictions attached, and No Government Oversight. Well The people have spoken, And if they want to be bailed out then it will only be if our Government Looks over their shoulder for now on.

Personally, I would prefer that they fail and fall, loosing all their wealth and money. I like to call it "Tough Love." After all, I do know one thing about the Great Depression. The people to suffered the most were the companies of Wall Street and their investors who put all their savings into the company stocks. Yes the working middle class did suffer somewhat. But after these 8 years of Bush and the Republicans devaluing the jobs of the working middle class, forcing our wages down and sending our jobs overseas, we working middle class do not have far to fall if a Great Depression were to hit again. It would only be the CEO's, companies, and investors who would not do well. A lesson that Today's young and successful Americans who value the market and the 'Get Rich Quick Schemes' were never taught.

National Road Fund Broke In One Month

I just read a news article by LISA STARK and KATE BARRETT Sept. 5, 2008 about the money for the nationwide projects of repairing our roads and bridges being depleted to almost nothing by one month's time. Since drivers are driving less to conserve their gas and save some pocket change because they want to have enough to buy their groceries which has also rose in costs the Department of Transportation are warning that they now have less revenue to pay for the road and bridge repairs across our nation.

Yep, less purchases at the pump means less money in the kettle for our highways. In fact Lisa writes, "the department called for an immediate infusion of $8 billion in tax revenues into the fund. That's precisely what some Democrats in Congress have been trying to do -- and a move that the administration, just six weeks ago, opposed."

But the Transportation Secretary, Mary E Peters a bias Republican, tells us: "Every family understands that constantly spending more than you earn is a recipe for insolvency. Yet many in Congress have refused to apply that same common-sense thinking to the federal program that currently accounts for close to half of all highway and transit investments."

Yet Senator Murray, Democrat stated "It's too bad that it has taken an emergency to force the administration to pull its head out of the sand and appreciate how serious this problem is."

Well, at least the proof that the Democrats in Congress had been trying to do precisely what was needed with the Republican Bush Administration opposing them just six weeks ago is CATALOGED in the Congress Library. Oh, yeah! Too bad Mary E. Peters put her foot in her mouth, and lied flat out because now her words blaming Congress wrongly is also recorded in the news for historical facts of her Republican lies.

Rising Foreclosures And Delinquencies

And just when you thought it was getting better. Well it's not. No!

According to Alan Zibel, an AP Business Writer for on line news, now the blame has been shifted again. Yep instead of it being borrowers with bad credit, now the blame is homeowners with good credit who took out exotic loans with ballooning monthly payments. Well I cannot speak for the other home owners, but I was told that my loan was a 30 year fixed. I did not want an exotic, balloon loan. But unfortunately my husband and I found out too late that the broker for the lenders lied to us. And after our loan was sold to another lender that was when the real problems started to come with the medical bills piling up. Don't you just love it when they LUMP all the homeowners into one category?

In the news Alan writes: The problem that policymakers and Wall Street once assured us was 'contained' to subprime mortgages has proven to be anything but," Mike Larson, a real estate analyst with Weiss Research, said in a research note. Gee, even I new that before I read it in Zibel's news article.

Now we are being warned that this wave of mortgage defaults flooding the market, with homes plunging in value, is expected to continue through the year 2010. One of the faults is loss of income or drop in income with either unemployment, health and medical, or loss of a spouse through death or divorce. And the numbers are climbing with new foreclosures rose from the first quarter in 35 states and Washington, D.C.

There were a few states where the foreclosures declined, but that was because those states passed laws to slow the foreclosures process and give the homeowners time to catch up on their payments.

Yet the blaming continues with the nick name "Liar Loans" because they claim that the incomes were not documented. That is a lie. My husband is a computer contractor who works for different consulting firms for their clients and we do our INCOME TAXES every year. Our income is well documented.

So Go ahead and blame the consumer. After all, we have had eight years of the Bush Administration, the Republican economists experts, and the Business news media who every year have blamed the American consumer for not spending enough. In fact, beginning November and December of 2001, all we got was complaints on how our not spending more was driving down the economy. Too bad we are not given an opportunity to review those news casts from money news on CNN, Fox cable, MSNBC and all the local station news as well along with all the Republican financial experts telling Americans that they should be using their credit cards more.

Yep, these last eight years, each and every year, the Republican financial experts and money news reporters have blamed the financial mess on the American consumers.

Job Loss Still Rising

The Associated Press on line reported on Sept 5 2008 the unemployment rate is higher than the economic experts expected. Yep, Employers slashed 84,000 jobs in August as we hit a 6.1 five year high in unemployment. A financial toll is effecting our economy as the housing, credit and financial crises worsen. The employment deterioration tumbled all major stock indexes on Thursday. Yet I do not recall hearing anything of it on any of the news stations or the local news.

In fact, the number 84,000 does not seem to add up to the list of jobs that were loss in the government's Labor Department Report. In the report the lists include: "Factories cut 61,000 jobs, construction firms eliminated 8,000 jobs, retailers axed 20,000 slots, professional and business services slashed 53,000 positions and leisure and hospitality got rid of 4,000." You do the math.

Now also in the same news article in the Associated Press: "Job losses at all private employers -- not including government -- came to 101,000 in August." It seems we just keep getting higher figures in the reporting, yet the government report have the number lowered.

Loss Mitigation or Delinquent Department

I have experienced something horrifying to me. If it isn't illegal, it should be.
This all began shortly after my original mortgage company sold my account. At first I was OK by it. Then our life began to take a turn for the worse a combination of unemployment and illness.

My husband's permanent secure high tech job disappeared back in 2002 to outsourcing. Since that time we have managed to stay afloat with my husband working temporary contract jobs in his field. Of course those jobs are not easy to come. They are few and far in-between so I managed to put some money aside during his working sessions so we do not loose the house when the next job is hard to come by .

However, we encountered a set back with my husband's health when he was suffering from gall stones in his gall bladder while he was unemployed. First it took a long time to get a doctor and a hospital to diagnose the problem. Why? We do not have insurance, and I found out that unless the doctors can pin point the problem, they do NOT have to treat you. It took more than 6 months of my husband suffering before someone at a hospital took his pain seriously and finally performed the operation of removing the gall bladder. It has been five months since the operation and he has had no more problems. My husband even had a job waiting for him to start. Within a two week period he was on the new job.

We did fall back just a little so I called to make a payment in late March. Saxon told me to filled out Loss Mitigation paperwork with Saxon Mortgage and not to make a payment until they had a chance to work out a plan. As soon as I received and completed the Loss Mitigation paperwork, I faxed it to them April 8 2008. I never heard from Saxon, so I called a week later. They claimed there was nothing on their computer about the Loss Mitigation, So I redid the paperwork and faxed it the Same Day April 12 2008.

Yet I still had not heard from them so I decided to send a May payment in good faith. But the mortgage company did not acknowledge that they received it. In fact I did not receive a statement. Not wanting to give them a reason to take my home, I sent another payment June 8 2008 using an older payment stub and a letter. A week later I received a call from the mortgage company. They did acknowledge receiving the May payment, but they placed it in another account to use toward a repayment plan. The mortgage company also asked if I paid another payment, it would aid me in my repayment plan. But after that not to send any more until a plan was worked out.

Well I informed Saxon that I did send out a payment a week prior. And few days later, I checked my on-line bank statement and the second check was paid out to Saxon Mortgage on June 17, 2008. The money was subtracted from my checking account on that day by the bank in my checking account. I thought everything was fine, UNTIL...

When I still did not hear from Saxon nor receive any statement during the week of July 20, full month later, I spoke with Stanley a representative of Saxon. Stanley of Saxon delinquent department claimed that Saxon did not receive that June check. He wanted me to send proof of confirmation. So I quickly got a copy of the front and back of both checks from my on-line banking which showed the date it was cashed and paid to Saxon mortgage along with a running on-line balance bank statement of my checking account showing when both May and June checks were paid out. According to my bank, it clearly showed the second check being paid on June 17 2008, more than a full month before. I faxed it to the Delinquent Department fax number provided to me by Stanley with Saxon Mortgage.

Several days later they still claimed they did not receive it. Then I told the person over the telephone that I did faxed it too them and I will again go ahead and re-fax the information to him right then and there. He then claim that he finally found the information and did acknowledge that I paid it, but he claimed that they did not received the check until June 21, 2008. In fact the Saxon representative claimed that I broke contract with the company because he claimed that I was suppose to get it to them by June 20, 2008.

Well, 'DO-THE-MATH!' My bank subtracted the money from my Bank checking account, paying it to Saxon Mortgage on June 17, 2008, which is four (4) days prior than June 20th. Now the mortgage company delinquent department wanted me to refill out the Loss Mitigation paperwork based on their claim that they did not get the check until after a date they set. Yet no one ever set a date with me since I already had sent the check PRIOR to the discussion of me sending a second check. Well I still had the originals saved on my documents so I refilled them and faxed the paperwork immediately.

Yet something kept stirring at me. I felt as if I was being conned and my information was being manipulated by the Saxon mortgage. I began to believe that Saxon was deliberately setting me up so that they could foreclose on my home. The recent news of a family whose home was foreclosed and the wife committing suicide came to mind. The husband claimed that his wife was working with the Mortgage company's Loss Mitigation department for months and she was constantly calling them sending them more paperwork. He mentioned that she had to redo the paperwork several times because their mortgage company claimed there was a slip up, or they did not get it, or it wasn't gotten to them on time. Maybe, I would not had paid attention to the news when they spoke of that on CNN, but it was the 'COLDNESS' of the TV CNN money news people that got me. That was why I remembered it.

Although I never received a notice of any foreclosure, I was so frustrated and fearful of loosing my home that I told my son we may end up loosing our home if Saxon continues to playing with me.
On July 25, 2008 my son connected me to a friend of his who did a three-way calling for me to speak yet with his friend who just happens to work for a company that specializes in negotiating better mortgages for the homeowners. Since July 28 2008, I hired his company to negotiate on my behalf for a much better mortgage with Saxon. His words were, Stop paying them, do not talk to them, if they call tell them that my company is doing your talking for you, and if anything regarding foreclosure should come in your mail just FAX it too me immediately so that I can stop the foreclosure process.

I did finally begin to receive a Saxon billing statement on August, but it had the payment as received by Saxon on July 10 2008.

What a bunch of crock??? Saxon manipulated the information in their computers so much that they have the funds for the check, which was cashed and paid by my bank to Saxon on June 17 2008, as received and paid a FULL MONTH later.

Isn't it illegal for Financial institutions to be manipulating the information of the homeowners just so they can STEAL the homeowners home right from under them? The FBI and the IRS should be freezing Saxon's operations, and assets immediately. Everyone from the owners of Saxon to the top CEO to all the employees in the Delinquent Department and the Loss Mitigation Department should all be arrested and taken away in hand-cuffs and NEVER ever be able to 'SEE-THE-LIGHT-OF-DAY' again.

Republican Moral Ideas

Today, August 5, 2008, at the age of 55 years I thought I had seen and heard it all. Well even I was shocked today after reading the report on abcnews.go.com. Forget about almost falling out of my chair. I did fall out of my chair! Yep, there was something in the news today that just literally took my breath away as I began gasping for air while turning blue and chocking.

I never thought I would ever read anything like this. But that is just what happens when a Political Party like the Republican Party, ride high on the insistence that they are the 'MORAL MAJORITY Party'. The Republicans also for decades have won big on the claim that they are the 'FAMILY VALUE Party'. However, the Republican slogan will have to change, thanks to John McCain's 'DOUBLE-TALK' mouth at one of his small town rallies today.

"I was looking at the Sturgis schedule, and noticed that you had a beauty pageant, so I encouraged Cindy to compete," McCain told an audience at the rally. "I told her [that] with a little luck, she could be the only woman to serve as both the First Lady and Miss Buffalo Chip."

Now what is wrong with a beauty pageant, you ask?

Nothing is wrong with a beauty pageant, EXCEPT when that Beauty Pageant is of 'TOPLESS CONTESTANTS'. Nothing is wrong with a beauty pageant, EXCEPT when that Beauty Pageant has the contestant exposed without any decency.

Hmm, could this be the 'NEW-KIND-OF-CAMPAIGN' John McCain said he was running?

The Weekend Blues

During a time when AP economics writer, Jeannine Aversa, informs us 'Stores, factories and other businesses large and small showed workers the door last month, sending unemployment to its highest rate in four years and adding to the evidence an economic recovery remains far off. Employers clamped down on hiring and cut 51,000 jobs in July, the Labor Department said Friday. The economy has shed jobs each month this year — 463,000 in all.'

Also reports like that of Jim Marshall in the Reuters news report, 'the analysts at Standard & Poors warned against mortgage related debt products in Internet emails, stating in one email, where a S&P manager wrote that the 'ratings agencies were helping to create an "even bigger monster -- the CDO (collateralized debt obligation) market. Let's hope we are all wealthy and retired by the time this house of card falters."'

While still getting news of 'U.S. auto sales plunged to a 16-year-low in July, led by a 27 percent drop at General Motors Corp , as high gas prices and tight credit sent the industry into a tailspin' , written by Poornima Gupta of the Reuters news on-line.

And as many stories of the 'Oil giants Chevron Corp. and Total SA wrapped up a string of gargantuan, record-breaking earnings reports Friday, a stretch in which six of the major international oil companies topped $50 billion in combined profit for the first time.' Like the one told to us by John Porretto, AP Business Writer during the same time period people are struggling to decide whether they buy gas for their cars to get to work or groceries to eat. During a time when people begin to purchase that heating oil to prepare for the winter, wondering if the Oil giants are planning to create another questionable paper written demand and supply to call it a shortage while raising prices even higher.

There is a new story brewing in the works about 'New York Attorney General Andrew Cuomo plans to imminently charge Citigroup Inc , accusing it of fraudulently marketing and selling auction-rate securities, and destroying documents that had been subpoenaed' in the Reuters by Joseph A. Giannone and Jonathan Stempel.

http://news.yahoo.com/s/nm/20080802/bs_nm/citigroup_subpoenas_dc;_ylt=Ar2mX7W1.bpaHLPLWs0iq4SyBhIF

More Jobs Lost As few Return

According to an on-line news article 'U.S. Loses 51K Jobs but Some Outsourced Jobs Are Coming Back' written by Alice Gomstyn of ABC News, "As the U.S. economic slump continues, American jobs are increasingly in short supply: the U.S. Labor Department reported on Friday that employers shrunk payrolls by 51,000."

Yet Gomstyn lets us know what employers like Monster Job on-line search Vice President O'Donnell are are saying about the returning jobs that were outsourced, "You've got to have a workforce that you can control and you can invest in and grow talent and skills over time, and that usually doesn't happen offshore,".

Gosh, and it took O'Donnell from when Bush first took office in 2001 until today, August 1 2008 to figure that one out. That is seven years of the Republican selling the lie that Americans are too stupid to do the jobs. Gee, what happened? Did Americans all of a sudden become intelligent again?

Remember, the whole concept of outsourcing was based on GW's early speeches about how "the American worker did not have the intelligence or skills or base knowledge for the high tech industry." GW Bush also stated during that same time period from 2001 through 2002 that "America will no longer be a High Tech country! America is now a service country!" Those words still rip through my heart, tearing it to shreds.

So according to Bush in his early speeches, the country of American workers who created the 'SILICON CHIP', and the country of American workers who created the 'PC', and the country of American workers who created the 'INTERNET', the country of American workers who built the 'SPACE ROCKET' for the Apollo missions and 'FIRST MOON MISSION', the country of American workers who launched the successful 'SATELLITES' into space, the country of American workers who designed and built the 'SPACE SHUTTLE' and had the successful space missions, the country of American workers who had the successful 'MARS MISSIONS', was just not smart enough to be the High Tech country anymore? Oh yeah and by the way, the country whose American workers created and built the first 'TELEPHONE', the first 'AIRPLANE', the first 'AIR CONDITIONER', the first, 'CABLE NEWS NETWORK' is just not smart enough?

But now, a new awakening is arriving. A very small portion of the jobs are returning. Just not the highly technical ones yet.

Alice also wrote in her ABC news report, "In March, AT&T chief executive Randall Stephenson told a Texas business group that the communications company was having trouble finding qualified applicants to fill 5,000 jobs -- mostly customer service positions -- that it had pledged to move back to the United States from India, according to a Reuters report."

Wow, did Randall Stephenson mean to say that when AT&T first took the jobs to India that all those new workers in India who took those jobs away from Americans had all the skills to work for a telephone company without having to be 'TRAINED?, or SCHOOLED in any way? Well if I remember those news articles in March concerning AT&T did admit to spending a lot of time and a lot of $$$$$$$ dollars in the millions or billions to train those Indian workers in India when they first outsourced those jobs back in the early Bush years.

Well maybe AT&T is just not willing to spend the same amount of time or money training the American worker that AT&T spent on the Indian Worker.

Also concerning the report written by Alice on AT&T, "An AT&T spokesman Thursday backpedaled from Stephenson's comments. Michael Coe told ABC News that AT&T had filled more than 2,500 positions and that the company is confident it will fill the rest."

Brain storm! Why not spend the same amount of time and money to train the American workers in the United States that you need just like you, AT&T, did on the Indian workers in India. DUH!

Alice of ABC news also got reaction from other companies who are either returning the jobs or bringing new jobs. ""It takes 70 Korean or Chinese workers 20 minutes to make a Chi flat iron," he said. "Now, in the United States and in Houston, with five people, I can make an iron in five minutes." Shami, who was first profiled by ABC News Houston affiliate KTRK, said he is building a new facility in Houston that he hopes will house 1,000 new workers within a year. He said he expects to neither save nor lose money through the new venture. A Palestinian immigrant, Shami said he's just doing his part to help the U.S. economy. "The only way to recover our economy is if we start manufacturing," he said. "I'm doing my part as a good citizen, that's all.""

Gosh, did Farouk Shami just give the workers of the United States of America a compliment?

You mean to say that the top 'CEO's' who were complaining in 2001 and 2002 that the American workers were just lazy and that the companies had to find more reliable workers was all a lie? Hmmm, What are the chances of that happening?

Speculation UP, Speculation Down

Here we go again. First Wall Street's Stock Market speculates the price of oil up by speculating that the demand is up, although it is only speculation.

Now the candidates talked about drilling in more of our coastal beaches. So what does the Speculating Traders on Wall Street do? They again speculate the price of oil. Only this time the Stock Market is speculating the price of oil down.

So was it really demand? And does what the speculators do here really justify the 'ROLLER COASTER' pricing of oil? Hmmm, let's see what is going on in the news.

On Friday, July 25 2008, there were talks on the horizon for that weekend, with speculation of a positive resolve that lowered the price of oil barrels on Friday. Yet in the news on Monday, July 28 2008, the press both on-line and in various news outlets reported on the oil price creeping back up on Monday.

On CNN on-line business news, Kenneth Musante, wrote an article titled 'Gas Prices Fall For 13th Straight Day.' I guess Ken and CNN did not get the news of oil price creeping back up on July 28th Monday. And Still on Tuesday all news media kept saying was oil has continued to drop. 'Continued?' But no mention of the glitch from Monday, just one day prior. http://money.cnn.com/2008/07/30/news/economy/gasoline/index.htm?postversion=2008073006

And now on July 30th 2008 there is still conflicting reports. With CNN stating that gas prices fall for 13th day straight, the Associated Press on-line has a new article.

http://biz.yahoo.com/ap/080730/oil_prices.html Stevenson Jacobs AP business writer's article 'Oil Jumps $5.00 After Report Says Gas Supplies Fell" indicated today that the price per barrel has jumped again. This time $5.00 more per barrel. Of course this business writer also states the two-week slide with no mention of July 28th price creeping.

Why there was even a July 11 2008 news article by Associated Press Writer, Madlen Read, where Read talks of the price per barrel passing $147.00 per barrel.

During the time frame of July 11 thru July 30 the price per barrel was not in any way continuing to go down. The weeks of July 14 - July 21 through Monday July 28th news reports have it ROLLER COASTING up and down. There was no two-weeks straight slide. A two week period is fourteen days. There is Not any 14 days of straight decline at all. There is only a continuous positive spin ignoring any facts of the rise in price that just keeps creeping up now and then.

Yet in my city, no one had reported that their price at the pump had even gone down .1cent. So I would of loved to see the prices at the pumps marked as a drop. In fact the price remained the same. However buy Tuesday, there was a report that some pumps either dropped their price by several cents or by 1/2 cent in some other places. But on the on-line business news reporting, the media were able to find an area or two where the price showed more than a .10 cents drop.

All of this speculating is enough to make me dizzy with the positive spin on oil drop and negative rise. When will the price become stable at a level we can afford.

Remember that many of us do not drive for pleasure. We drive to get to work. We drive for our work. We drive to get important errands done quickly and smoothly and on time. Some are small business owners. Some are workers who work 2 to 3 jobs to stay afloat. Some are households with 2 workers paying between $100.00 to $120.00 tank of gasoline on each car to get to work. Some errands have to be done by car. Try loading your groceries on the bus with your milk and ice cream while the air conditioner is not working. Yep, that happens a lot when you live in the high desert area. Try waiting for the bus in the smoldering heat, where the buses break down and a replacement is not sent so you just have to wait an hour or two later with small children and a milk souring in the heat. Everything from doctor office appointment to dental appointments end up being rescheduled when we arrive late because buses break down. Many times the delays can cause as much as a 2 hour later showing up for the appointment that was just 5 to 10 miles away. WE--NEED--OUR--CARS!

Driving is no option. Driving is a necessity. And when the speculators speculate the oil price 'ROLLER COASTER', you are stuck in a tizzy.

Bush Administration Projected Trillion Dollar Deficit

The Republican Bush Administration today, July 28 2008, projected the year 2009 will reach trillion dollar deficit for the next presidency, no matter who is president according to Jeremy Pelofsky and David Lawder in the Washington (Reuters) news on line. The housing slow-down will hit government revenues in a soaring half a trillion dollars of U.S. budget deficit.

Yet the, "we--are--not--in--a--recession," Bush Administration is still optimistic saying that the new report should cut the deficit to 178 billion in 2010 and may begin to produce surpluses in 2012. But everything the Bush Republican Administration had stated that would happen or should help our economy since the end of 2001 has proved NOT to work. So I hope Bush and his Republicans wont mind if I do not hold my breath.

Still the Bush Administration did give a worse forecast at 3.8 percent inflation this year. Many in the Republican Party, along with Bush, are selling the idea that 2009 will look better with a 2.3 percent and calling it moderate.

I guess that would depend on where the line is placed. Remember the Bush administration has changed the line of where the acceptance of average is, making it seem to be better than what it really is according to the original line. When they move the imaginary line of acceptance, Republicans can make it appear as if we are doing better than we actually are.

As Bush's tax cuts went into effect, the budget has been sapped by the expense of the Iraq and Afghan war.

The article, White House Sees Record Budget Gap In 2009, also reported "Democrats have blasted the Republican administration for squandering budget surpluses and nearly doubling the national debt, from $5.6 trillion when Bush took office in 2001 to over $9.5 trillion now." The Chairman of the House Representatives Budget Committee, South Carolina Democrat John Spratt said, "Under its policies, the largest surpluses in history have been converted into the largest deficits in history."

In the report, "Merrill Lynch & Co Inc last week estimated that a 2009 deficit topping $500 billion, combined with the government's normal financing operations, would require the Treasury to sell about $1 trillion in debt next year, a task they called "daunting."

John McCain Ignores Pentagon Orders?

McCain said,"If I had been told by the Pentagon that I couldn't visit those troops, and I was there and wanted to be there, I guarantee you, there would have been a seismic event,"

Well, If the PENTAGON says "NO", you can bet you will NOT be allowed anywhere near the wounded soldiers. How could an ex-soldier, ex-air pilot, ex-POW think the Military are going to allow you, no matter who you are, to get anywhere close to the wounded soldiers on an American Military base in another country when the orders came from the Pentagon itself?

Just who is John McCain kidding? What makes him think he go and do the opposite of what the Pentagon ordered? Is John McCain having a Bush moment?

Without any proper authorization, does anyone believe that they can 'side--step' the Pentagon orders? Without the proper authorization does anyone believe that a civilian can just go on base and go anywhere they want and not follow the guide lines as to where they can and cannot go?

I believe the American US Citizen is too smart to fall for that one.

Remember, those wounded soldiers are in a military hospital on a military base in GERMANY and It is very ARROGANT for John McCain to have said those words, "If I had been told by the Pentagon that I couldn't visit those troops, and I was there and wanted to be there, I guarantee you, there would have been a seismic event,"

And I guess that the Military on base will 'IGNORE WHAT THE PENTAGON ORDERS WERE.' Yeah, when-pigs-fly!

It seems that there is a different set of rules regarding following the orders of the Pentagon as well as the Military Commanders on base for the Republican party politicians.

While everyone else would be put under Military arrest or kicked off of the base for trying to cause trouble on Base, the Republicans seem to think that they can do as the Republicans please on the base whether the Pentagon allowed it or NOT!!!!

I guess the Pentagon and Military enjoy having their orders ignored by the Republican Party.

Republicans Laugh, Americans Cry

MARTIN CRUTSINGER, an AP Economics Writer in Washington on July 24, 2008, in his news report article on the ABC news on line tell us, "The National Association of Realtors reported that sales dropped by 2.6 percent last month to a seasonally adjusted annual rate of 4.86 million units. That was more than double the decline that had been expected and left sales 15.5 percent below where they were a year ago."


He also wrote, "The downward slide in sales depressed prices, too. The median price for a home sold in June dropped to $215,100, down by 6.1 percent from a year ago. That was the fifth largest year-over-year price drop on record."


Yet Bush with his Republican Administration crack jokes about the economy and Wall Street?

Associated Press Business Writer, STEPHEN BERNARD in NEW YORK, yesterday July 23, 2008, reported in his business news, "Student lender SLM Corp., more commonly known as Sallie Mae, said Wednesday its second-quarter profit plunged 72 percent as funding costs remained high amid further weakening in the credit markets and the company took charges related to its restructuring.Net income fell to $266 million, or 50 cents per share, during the second quarter, from $966 million..."

Why do Republicans laugh at stuff like this?

DEE-ANN DURBIN and TOM KRISHER AP Auto Writers in DEARBORN, Mich. July 24, 2008, inform their news readers, "Ford Motor Co. posted the worst quarterly performance in its history Thursday, losing $8.67 billion in the second quarter."

How do Bush and his Republican Administration find a joke in our failing economy?

A Reporting by Kyle Peterson, from the Reuters News Service Chicago, Ill. July 23, 2008, appeared on ABC news website. In Peterson's reporting he gives us some insight on Northwest airlines dilemma.

Kyle's report states, "Northwest Airlines Corp reported a quarterly net loss on Wednesday, reversing a year-earlier profit, on skyrocketing fuel prices. The carrier, which plans to merge with Delta Air Lines Inc , said its second-quarter net loss amounted to $377 million, or $1.43 per share, compared with a profit of $2.1 billion a year earlier."

Where is the Joke in this?

Steve Hargreaves, a New York staff writer of CNN Money.com July 24 2008, gives us these details, "The government charged an oil trading firm Thursday with manipulating oil prices in the first complaint to be announced since the regulators began a new investigation into wrongdoings in the energy markets. The Commodity Futures Trading Commission accused Optiver Holding, two of its subsidiaries and three employees with manipulation and attempted manipulation of crude oil, heating oil and gasoline futures on the New York Mercantile Exchange."

How is this funny?

Still it is hard to get to the truth when we have to deal with manipulating reporting like the on ABC news money beat correspondent Bianna Golodryga. Her title, "Who's to Blame for High Gas Prices? You" on July 23, 2008, says it all.

Why do the Republicans keep claiming that it is the American people's fault for our bad economy? How many jokes do the Republicans have blaming the American people off camera that we do not know about? And how much longer will the American people put up with the Republicans insulting and smearing the American people?

Home Values Drop With Plummetting Prices

Tuesday a government report gave a 4.8 percent drop in home prices. Yet the percentage of dropping prices were a lot higher in other parts of the country.

Just four months ago, my husband and I went to our bank to see about refinancing our home into a 30 year fixed. But because the value of our home had already dropped approximately $150,000.00, while making our home almost $50,000.00 less in value than what we owed on our home, our bank was 'UNWILLING' to refinance with no money out on a 30 year fixed. We were stuck. Out contract with a finance loan company was sold to a different company in November 2007, when it was brought to their attention that our loan was suppose to be a 30 year fixed, and not an Adjustable Rate. When we originally did that refinancing back in December 2006 it was the Notary, who had the finance company on speed dial of his cell phone, told us that according to the Finance company the information of the 30 year fixed was just worded differently because it was just that type of wording, but not to worry it did mean a 30 year fixed. So under duress both my husband and I signed. Since December 2006 a lot has changed.

But why was the bank unwilling to refinance our home? The drop in home value just did not make any sense to us.

Well, according to the bank's home financing person, it was the homes as far as 10 to 25 miles from my home that did their quick sells, lowering their home prices below what they owed their Financial institutions in mortgage that caused my home to plummet in value.

Three months ago my friend's home, at the other end of town, had dropped $200,000.00 in value.

Just this month a friend of mine who lives up in Washington State in the Pacific Northwest was in shock to find out that the value of her home had decreased by $100,000.00 as well. However, just last month the news were reporting that Washington State with 9 other states were doing far better than the rest of the country and not loosing any of their home values.

It is now four months later after that trip to my bank. I am even more shocked to find out that the value of my home was lowered at least another $100,000.00.

Still my government keeps bailing out the same Financial Companies and Banks that are responsible for ripping off and lying to the homeowners.

Now isn't that a kick in the head?

Slashing The Job Market

Wachovia Bank is now cutting jobs due to their large second quarter loss this year.

So far for these past six months many jobs have been lost to either cutbacks or leaving the country, as businesses back track to gain some ground during these economic hard times. The Airlines, the different auto manufacturers, stores, restaurants, real estate, construction, many different mortgage companies, many different credit card companies, many different banks, many different manufacturing companies, many different packaging companies, many different distribution centers, the different telephone companies, many different medical clinics and hospitals have cut back, reports of cuts during the past seven years has even hit some police departments in different cities and other law enforcement agencies, and the list goes on.

But has job loss only been for these past six months? What about the High Tech Engineer and Program jobs? What about the Customer Service jobs? Look over jobs lost and cut backs since Bush took office in 2001. It began with Bush and his Republican Administration Outsourcing of jobs. And every year since other job industries would report lay-offs and cut backs do to the Roller-Coaster Bush Economy. Yet, the jobs loss would only be here in the U.S.A. and never in the companies other plants or business offices over seas. In fact, none of their overseas company opperations had any job loss at all.

For the past seven years the Bush administration logo in describing the cause of the economic hard times has been 'THE LACK OF CONSUMER SPENDING'. Let's face it, according to the Republicans, it is always 'Our Fault'.

What caused the lack-of-consumer-spending?

Well, remember the words of GW Bush in 2002, "America is NO longer a High--Tech--Country. America is Now a Service Country."

And remember when GW Bush said on national TV, "Americans NO longer have the 'INTELLIGENCE', knowledge or skills for the High Tech Industry."

Thanks to Bush and his administration the secure permanent high tech jobs left our country, leaving many Americans unemployed and scrambling for high tech temporary jobs in their field of which they qualify for with no medical insurance and no retirement plan benifit. Temporary jobs are only for a few months. When the jobs are over, the workers are scrambling to get another job with other consulting firms in the contracting industry to work for that company's client. The jobs available are too few and far in-between. Keeping up with the latest technologies is not hard for those like my husband who do have the Education, Skills, and Intelligence (which Bush denies). My husband is in his late 50s now, having been going through the job scarcity in his field for the last seven years, thanks to Bush and his Republican Administration.

And thanks to Bush and his Republican Administration, we lost a lot of the High Tech Engineers who quit their field because of Bush and his 'ANTI HIGH TECH' workers attitude since 2002.

Is it any wonder that consumer spending has been down during these past seven years?
Does it take a 'Rocket Scientist' to figure out that Bush and his Republican Administration have been calling the American People 'too dumb' to work high tech jobs for the past seven years?
Or hasn't anyone else figured that out yet?

Was Friday's Drop, Monday Rise All Speculation?

On ABC news online, Adam Schreck, the Associated Press Business Writer reported on the oil price creeping back up on Monday after it had slipped down on Friday, July 18 2008.

There were talks on the horizon for that weekend, with speculation of a positive resolve that lowered the price of oil barrels on Friday. Yet, there was no credit to the upcoming Saturday talks on Friday and what they, the traders and buyers, were hoping for. In fact, in reading the Money and Business News on Friday the only credit of the oil plunging in price was given to the oil companies and their oil executives and to George W Bush and his Republican Administration. Yes, even the on line money and business news writers and television reporters on Friday and this past weekend were all trying to convince us that the up swing in oil prices was over and that we should be expecting a recovery of lower prices at the pump for the rest of the year. "Oh, Really?"

However, it wasn't until Monday, July 21 2008, when we are finally given the truth."The talks didn't resolve the problem of Iran's nuclear program, and that has been a factor in prices ticking higher today," What was that? Who was that? Did David Moore, a commodity strategist in Sydney Australia just admit that the oil prices fluctuate according to the 'POLITICS' of the day? "Part of the reason prices had fallen recently was on the expectation a deal could be made there." Did the commodity strategist just state that Friday's price drop in oil was only based on 'Speculation'?

'Oil prices also rose Monday on concerns that Tropical Storm Dolly may disrupt oil operations in the Gulf of Mexico, Moore said.' Was another reason for Mondays rise in the price per oil barrel due to more 'Speculation'?

When will the average American Citizen be told the truth? Is it demand, or is it 'Speculation'? The News Media, the Reporters are all suppose to be reporting the news. However all, we seem to get is Oil top executives and Corporate interests, Wall Street, and Republicans manipulation of the news.

Someone is laughing--all--the--way--to--the--bank, and it's 'NOT' me.

Is It Really Ludicrous?

When the Right brothers invented their flying machine, everyone called them crazy.

When Kennedy said that we, as a nation, would be sending men into space, many Republicans ridiculed him.

When NASA said they were sending astronauts to the moon, a lot of people were gearing for the worst.

When we, as a nation, sent the Pathfinder to Mars, there were those who tried to stop it.

Now Gore has taken the stand and is trying to convince Americans and our government to switch over our energy to cleaner energy so we will never be dependent on OIL again within the next 10 years. The Republicans and the Oil corporations and oil interests groups are calling the idea 'LUDICROUS!'

We are a nation, a country of impossible dreams coming true. This is one dream that is very possible.

Changing City Codes Creates a False Picture

In a news report, by Patrick Rucker on ABC news on line, the government is ecstatic because housing building, in New York, is on the increase.

But was it the economy that caused a stream of new home frames popping up in New York?

'NO!'

Than what could it be? Why would new homes suddenly begin to spring up when the housing industry has been hit so hard with dropping home values, foreclosures, and a very high number of over-stock of unsold homes in the real estate market?

The answer is very simple. New York City changed their Building Codes to allow new housing development in a failing economy even though there is a large number of vacant-unsold-homes, both new and old. The U.S. government are excited that 'Building Permits' climbed to 1.091 million and that construction is already begun. The Bush Administration will be gearing up to paint that 'Rosy-Picture' again.

But what will such a move do to a troubled, failed economy? Would viewing this move as an economic progress, improve our economy? Would the speculator, traders, and buyers in the Stock Market see this as a good thing? And even if they did, would this be real proof that the economy is getting better? Or is this just another illusion, trick-of-hand maneuver by a state trying to grasp at straws?

Are we going to see other states in the Union coming up with similar changes in their Building Codes, only to burden an already failing housing industry due to the economy?

Well does the term Don't-count-your-eggs-until-they've-hatched ring a bell?

World Economy Prove Bush Wrong

Today, Tuesday, July 15, 2008, President Bush gave his spin on how great the economy is. Today, Bernanke gave his testimony in front of the Senate Banking, Housing and Urban Affairs Committee on how good the economy is 'NOT!'

But there was a more pressing matter that occur today, which might have a lasting effect on the economy. One that can make the growing recession to last longer than expected. An irreversible downward spiral in the Stock Market effecting the world economy. The Dow Jones Industrial Average closed down more than 90 points, falling below 11,000 for the first time since July 21, 2006. By itself, it may not leave a lasting impression, but with the "economy continuing to face numerous difficulties, including ongoing strains in financial markets, declining house prices, a softening labor market, and rising prices of oil, food and some other commodities," the effects could last longer. Leaving this generation to deal with something far worse than a recession. Add to that the 'ever-ending-U.S.A.-shrinking-dollar' that sank to a new low against the Euro.

Although Bush and his administration keep painting a rosy economic picture, they just cannot hide the 'Ferocious-Fanged-Recession-Monster' from showing it's ugly head.

Even with the Feds financing Fannie and Freddie with a Billion, confidence in the U.S.A. economy declining causing the stock markets in Asia and Europe to drop. The repercussions were felt in Britain, Germany, France, Hong Kong, Taiwan, Japan, South Korea, India, and Australia. It is also believed that China felt it's effects in some of their stocks. It has been rumored that China holds stocks of Fannie and Freddie.

Economics Good Cop, Bad Cop

While Bush was putting his usual spin on the condition of the economy, convincing those who would believe anything that the economy is on the up swing, Bernanke was in-front of the Senate Committee in a position where he had to tell the truth.

Having to tell the truth and nothing but the truth, Bernanke stated to the Senate Committee that the Economy is still sliding downward and that the Inflation continues to soar.

If the president were under Oath to tell the truth and nothing but the truth, his speech would have painted a different picture of despair and the trouble yet to come. But Bush is in a position where he can say anything to the same people who are being forced out of their homes, to the people who are cutting back on essentials to pay for gas to get to work, to the people who will have had to rotate their bills to pay for heating oil before the cold weather comes, to the people whose home values have dropped (in some cases as much as $250,000.00+ drop in value for the average middle class home), to the people who 'Quick Sold' their homes for hundred thousand less than what was owed on their home mortgages causing their neighbors home values to plummeted. Yes, Bush is a politician. Not the smartest one in the bunch, but he is a spinner.

Looking back on my days in school, I remember it was the truth of events and dates that are studied in history. Bernanke and the economy will be in history, like the events that led to the depression. History is 'Never' based on a spin.

Declining Stocks, Smoke Screen Fixes

The AP Business Writer, Tom Paradis, on the ABC news web page had his take on the decline of the stock market today. Even the Billion that the Feds put into Fannie and Freddie, could not stop the traders and buyers from loosing faith.

The Financial Institutions will have their quarterly reports in soon. All those homes that went into quick sale with debt that was forgiven in $100,000.00 to $200,000.00 range for each home, and causing their neighbors homes values to decline will be showing it's ugly head in those reports as money lost. Also all those foreclosures where the money is lost and the banks have to sell them for a lot less than what is owed will also show itself in those reports.

Earlier today, Chairman Bernanke was seen as the hero for the failing economy and the home mortgage foreclosures. However, even the Fed's new rules for the lending companies can not turn around this economy, because the new rules only apply to 'New Future Home Loans'. There is nothing to stop the next wave of the adjustable that are coming in current existing mortgages whose times are closing in for the rate change. Also the home mortgages whose time is still one to five years away for the adjustable rate change are not going to get any help either, since their loans existed before the new rules were put into law. Nope, the only ones getting the help are those who either do not need the help or the future new home owners.

The Financial institutions are refusing to even consider helping the borrowers get into a 30 year fixed that they can afford. Yet, the monthly on the 30 year fixed would be more affordable, which means fewer foreclosures and better economic times. But those mortgages whose adjustable will be changing in the next 6 to 12 months, will not be affordable once they adjust. Therefore there will still be plenty of foreclosures on the horizon. In the mean time those same homes have fallen in value since homes in near by communities have 'Quick Sold' their homes for a lot less than what was still owed on the homes and $200,000.00 to $300,000.00 less then what the homes were valued at 1 to 3 years ago.

My home has dropped in value $250,000.00, making it valued at $100,000.00 less than what is still owed in the mortgage. A friends home had dropped in value $300,000.00, making her home valued at $200,000.00 less than what is still owed on her mortgage. We are all stuck between a hard place and a rock of not being able to sell because that would mean giving our home away and still owing monthly payments for years to come at the adjustable rate. Unless the company is willing to forgive what was lost with the 'Quick Sale'. But then the following year the amount 'Forgiven' would have to be counted as income. Imagine having to count the amount forgiven of $100,000.00 to $200,000.00 for income in your taxes. Yep, just call me a Hertz. I'll climb into the cemetery grave hole, by myself.

I bought my home, when both my husband and I had a stable job, stable retirement, stable everything. And only went for what we could afford. Only after my husband's job was outsource did we fall into trouble. And with the loss of medical insurance the medical bills piled up, while my husband worked temporary high tech jobs in his field. Grasping for straws, we refinanced. We stated that we wanted the 30 year fixed. We were told we had the 30 year fixed. When we were signing the papers, we were reassured that it was the 30 year fixed, and that the lending institution just had it worded differently, but that it was still the 30 year fixed. Well, We found out a month later, 'IT WAS NOT' a 30 year fixed! And we are now stuck. It was our word against theirs. And no one wanted to help us. Not even the new company whom bought our account 6 months after that from the cheating company.

We got ripped off, and cannot get out of it. The Financial institution who bought our account in November 2007 when the mortgage fiasco finally came out and foreclosures were abundant, is refusing to give us a 30 year fixed, which the other company, they bought us from, ripped us off when they lied to us in the first place.

Those new laws, Will--Not--Undue any of the current bad lending practices that effect the current mortgages whose APR's are coming up. And there is no way to stop them.

Soaring Past $147.00 A Barrel

In reading the money news article by Associated Press Writer, Madlen Read, Friday July 11, 2008, I was hit with oil fatigue. It was shocking when the oil had soared to $100.00 a barrel back in February 2008. Now here we are averaging at $150.00 a barrel just 5 months later. Putting the national average at over $4.00 a gallon while the price has hit San Mateo California at $5.21 and 9/10 a gallon for regular with premium at $5.45 and 9/10.

The Managing Director of FACTS Global Energy in Energy in Singapore, Jeff Brown was quoted as saying, "There's always a fear premium in pricing. The tensions in Iran and the threat of supply disruption will help support oil prices,"

Of course the rising tensions between the Western countries and Iran with the 'Potential' of Nigerian militant group resuming their attacks on the Nigerian oil facilities seem to be having an effect on the 'traders and Investors' as they did their end-of-the-week-trade. And the shrinking American U. S. dollar was also to blame. Then there is also the possibility of a strike by oil workers in Brazil. But so far the only definite thing that has occurred is our devalued U. S. dollar. All the other factors for the rise during these 5 months were only probabilities.

There may not be much that we can do to stop the downward spiral of the U. S. dollar, however news on a repeat of possible threats seems to be having an effect on the 'trading and investing on Wall Street' thus controlling the price in the consumer market.

A Sworn Oath Testimony

We have Rules and Laws in our lives and our government to maintain stability and order. They exist for the stability of the way of life in which we live. To be issued a Subpoena is to be, by law, ordered to appear and give testimony under oath, 'To-Tell-The-Truth-The-Whole-Truth-And-Nothing-But-The-Truth!' If the oath is violated and it is discovered that the statement that was given under oath to be a lie, then the person under oath is charged with perjury, which carries with it a penalty of prison time.

So why would someone who is/was a member of the Bush Administration feel that he/she does not have to be sworn in prior to their testimony. Could it be that the person knows that their statement would perjure himself/herself. In other words, that person wants to 'LIE' and not be charged with perjury. Remember that refusing to co-operate with an order of subpoena is breaking the law. That is why Republican Linda Sanchez, who is the Chairman of the House Subcommittee, ruled that Republican Karl Rove was breaking the law to co-operate with the Congressional Subpoena by refusing to testify.

Other Republicans are calling it a political ploy of the Democrats in insisting that Karl Rove give an oath to say the truth and nothing but the truth in his testimony. Yet Republican Linda Sanchez recognizes the law, and unlike her fellow Republicans, is under the legal oath of following the letter of the law just as the Democrats on the House Subcommittee are under the legal oath to do.

I wonder if any of us could so easily 'REFUSE' to give the sworn oath, thus allowing us to lie in our testimony, if we at any time are ordered by a subpoena to testify in court. I guess we all know the answer to that one.

Iran Missiles Cause Campaign Concerns

Test missiles in Iran caused concerns in the Middle East and western world bringing the price per barrel up in other regions of the world whose price was always lower than ours.

Both candidates of the United States presidential election were asked: "Does Israel have a right to a preemptive strike against Iran?" Not surprising candidates views differ. What is surprising is who said what.

John McCain said, "I can't know whether a strike would be justified because I don't know the progress or the nature or the significance of the threat." Am I surprise by the Republican candidate response. No! Since Israel is not an oil rich country I did not expect any republican to care. Look at their history. No rich resource, no care. Can you here me now?

Obama on the other hand, being the presidential candidate who puts people over 'Foreign Oil Interest' answered the question in the right, humanitarian way: "Israel always has the right to protect itself from serious threats and Iran is a serious threat."

Now, what do we do about Iran. John McCain says, "Defense shield in Europe."

Obama says, "What we should have been doing from the start, instead of engaging in over-the-top rhetoric, what we should be doing is gathering our allies together in a serious effort to apply sanctions to Iran and encourage them to change their behavior."

But how did Iran get this far? In late 2002 and early 2003, wasn't it Bush and Rumsfeld who both said with straight face in front of the news cameras, to the American people and the world that Iran was our friend? Wasn't it Bush and Rumsfeld and the Republican party who insisted that we can now trust the information coming out of Iran regarding the WMD's in Iraq? And wasn't it the Bush administration who patted themselves on the back insisting of better relations with lifting the sanctions against Iran at that time and increasing the exports to Iran?

Well, the WMD's were not in Iraq! That did not and does not surprise me, after all the Iranian government have not been honest in any of their claims of the past since the take over of the Shaw. However, just as I warned on the discussion boards in late 2002 and early 2003, I do have an erie feeling that the Iran government played us during that time period of trying to get us tied up in a war that would prove be difficult to get out of since we already had been trying to deal with the real terrorists at that time, Bin Laden and Al Qaida and the Taliban. Yes, the Iranian government reeled the Bush administration in, 'HOOK-LINE-and-SINKER.

So how do we save face. Do we do as John McCain says, as he is trying to save face for the Bush Republican Administration, who have not yet been held accountable for their role in ignoring the U. S. Central Intelligence Agency's warning about Iran. Our own current history already proves that the Republican party 'Helped Iran To Get This Far Since 2002.'

Or do we follow Obama and his suggestion of beginning a process of drawing the line, which the Bush Republican Administration abandoned in the first place. Remember, the beginning process is only the beginning process, which does have to change as the circumstances call for.

But the correct actions have already elude the Republican party. Do we really want more of the same mistakes with another Republican Administration.

Yes, It Is A Fix. No, It Is Not!

According to Jeannine Aversa the AP economics writer on the news website, abcnews.com, the Federal Reserve will issue new home lending rules that the financial institutions have to follow sometime next week. According to the report, "It is suppose to protect future homeowners from dubious lending practices..." But the new rules will only apply to the new loans to prevent a repeat of the current mortgage mess.

Yet there is nothing to fix the current mortgage mess. I am still waiting.

If half of $75,000.00 is $37,500.00 than $40,000.00 is almost half and no where near 25%. That means every time my husband did a refinancing of our home (2 x's since his high tech job was outsourced 5 to 6 years ago and our bills were piling up), the brokers, whom the financial institutions began using for home loans, lied to my husband and stole almost half of the money loaned each time. Of course the grand total of the entire 1st loan, $75,000.00, was what was added to our mortgage. Plus the second time my husband did the refinancing from a different financial institution, he took out half and thought for sure he would get a better deal since the broker promised that it was a fixed 30 year loan. None of our refinancing were a quick-over-night. In fact each one would take 1 month to 2 months to go through. During the signing of the loan they said that the people re-financing the loan had to make a change for one reason or another. We asked what the changes were but they were never clear as to what the change was, just that it was necessary.

Well the 30 year fixed was a lie, which we did not discovered until we received the new billing in the mail. It had the APR set for the higher rate in February 2009, only 2 years after the signing the documents. In fact in a 10 month period our new mortgage account was sold to a different company we did not have a contract with who totally refused to help us get into a 30 year fixed with NO MONEY OUT. Why? Since they know we were lied to, they should be willing to help us get into a 30 year fixed that we can afford with our home.

Now, one of the excuses used by the Financial institutions is that people with bad credit should not qualify. Yet my husband and I had 'EXCELLENT CREDIT' before his high tech job was outsourced. Gone is the Medical coverage. It all comes out of pocket and every year more and more has to be ignored, like my asthma. I stay inside a lot. My husband heart condition can not be ignored. He has heart attacks and had a single bi-pass and is on heart medications. No medical insurance to pay for anything. His Emergency room visits, hospital stay bills cannot be paid until he gets a permanent job in his field to pay monthly payments. So our credit report is bad now since his job has been 'OUTSOURCED TO INDIA' since January 2002.

Now think about this. My husband contacted the financial institutions and thought he was dealing with them directly. They would take the information, do a quick review to see if we qualified, then have a broker contact him. The broker always introduced himself/herself as a representative of the Financial institution. But after everything was done, and we realized something was wrong, we would talk to the Financial institution and be told that the broker was not their employee, but an independent broker.

And in one of the cases, after all the paper work was finished and we received the billing, I called to question why it did not say FIXED instead of the APR, their response to me was that I can complain about the independent broker to a phone number of theirs.

What??? They were the ones who had that broker contact us. Who are they kidding? That phone number is just that financial institutions customer service.

So now the Feds are going to introduced new rules for lending institutions to protect future homeowners from unfair practices in future new loans. Yet I just listed a few unfair and unlawful practices that they did and are still doing to me. How can the Unfair Practices be OK to continue to happen to me, but not to the next guy.

That is so-not-right.