Governmental Politics Getting In The Way

Devastation has hit a small country in a romote part of the world early this week. The country known as Myanmar has been hit by a cyclone storm of huricane winds with almost 62 thousand killed or missing. The stench of rotting corps fill the air with many bodies not being burried as of yet. Efforts of a massive food aid rescue attempt, which was launched by many countries around the world in the United Nations was crippled by the military government of Myanmar as they confiscadated the food, halting any further aid from reaching their country.

The military government of Myanmar has refused foreign aid workers into their country to help with the overwhelming million survivors who are waiting for food, medicine and clean drinking water. Completely submerged in the water of the Irawwady Delta are whole villages. Aid groups are warning that the country is on the verge of a Medical disaster of greater propotions than originally thought.

Back To The Old Slashing Of Interest Rate

Are the Federal Reserve and the Chairman Ben Bernanke creating a muddier mess of the economy every time they try to stop a recession with their constant lowering of the Key Interest Rate?

So far since September 2007, the Federal Reserve have cut the interest rate up to six or seven or even eight times already, promising that each time was the last to secure that we not go into a recession. Yet each time they slash the rate, it has prove not to be the last since the inevitable is sure to happen. Or has it happened already and they are just not admitting to it, while they lie to the American people?

I don't know about you, but in January it was reported that the key interest rate was lowered five times since September 2007. That means that in February and March and again in April when Bernanke and the Fed cut the rates those three times the number increased to eight times since September 2007.

Where is the outcry? Why hasn't anyone stood up and said, "YES WE ARE IN A RECESSION!" Do they really think that the USA citizen is that naive and gullible? Or are we?

One thing is certain, someone is laughing all-the-way-to-the-bank. And that someone is NOT the USA citizen.

Price Per Barrel Almost $120.00

I never thought the oil prices per barrel would jump so high, so quickly. But it did. The US Light Crude is at $119.26, while the London Brent Crude jumped up to $117.07. Of course the news media keeps telling us that our price per gallon is not as high as Europe. Yet they keep basing the cost by percentage of the whole country, which is not the accurate price per gallon at all.

Here in different parts of California the prices vary from county to county, from northern to southern, from coastal to desert. With most areas already hitting the $4.00 per gallons while some are still at the $3.75 per gallon, it is unthinkable that along Hi-way 1 in a small town community out in the middle of no-where the price per gallon for regular oil is at $5.40. But do not expect to see a sign letting you know what the price per gallon is. You do not know until after you pumped the oil into your car. The owner of the station is also the owner of the town and claims he is loosing money, because his towns' electricity is powered by the oil fuel. So instead of doing the right energy saving thing and switching the power of the towns' electricity to either wind or solar, the owner prefers to stick it to the stranded motorists who are driving along Hi-way 1.

Price gouging is a factor in this instance, and a violation. Now why would I call it price gouging, because the motorists do not see any price signs on what the price per gallon is and they do not know until after they pumped the oil into their cars.

We Are Not In A Recession?

Announced on TV, CNN news, the Oil prices for regular premium gasoline have hit closer to $4.00 a gallon in some states, while in a few locations in the USA it is already at $4.00 per gallon. Diesel fuel is over $4.00 per gallon making it harder for some independent truck drivers to compete with companies for the jobs. Yet, president Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news the housing market has hit another all time low, with home values dropping and consumers paying mortgages that are higher than the current value of their homes. Yet, president Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news the mortgage foreclosures are still on the rise, with homeowners reporting of getting no help from their lenders. Yet, President Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news the job loss has risen again with families struggling to make ends meet. Yet, president Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news the numbers of job loss continues to climb with companies trying to stay afloat, while fewer and fewer jobs are becoming available. Yet, President Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news as the value of the American dollar sinks the world market of trade suffers. Yet, president Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news as the world food market faces a crises, people in other countries are taking to the streets protesting the rising cost of food. Yet, president Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Announced on TV, CNN news that in the USA a rationing of Rice has just begun, with a limit of what restaurants or companies who use the Rice product in their canned or packaged foods can purchase at any one time. Yet, President Bush stated once again for the fifth or sixth time this year, "We are not in a recession."

Trust me, the recession has already begun.

Home & Mortgage Worries

In a new AP-AOL money & finance poll study the results are alarming if your selling, good if you're the one buying, but not as good if you are a first time buyer. Although many home values have dropped across the country, for a first time buyer it is even more difficult to be approved for a home finance.

According to the study, one in seven mortgage homeowners worry they may not be able to make their payments within the next six months. The numbers are even higher on the results regarding the people who fear the value of their homes is dropping or will decline sharply. With the numbers of job loss of 23,000 in Jan, with February job loss number at 63,000 ad to that the March unemployed numbers which have yet to come out, we could expect to see even higher numbers of foreclosures?

Yet there is another worry, not covered by this poll, the homeowners who have fallen into the quick sell of selling their homes for a lot less then what they owe will have a surprise when they do their taxes the following year. Yes, the mortgage companies can agree to forgive what is still owed, but then the homeowner who did the quick sell has to count the amount that was forgiven as his income in the next tax season. If this year the home sold for $100,000.00 less then what is owed, it is considered income for the homeowner who dropped the price for a quick sell. Good luck come April 15, 2009. "The vision of things to come."

The source for the AP-AOL Money & Finance poll study, http://abcnews.go.com/Business/Economy/WireStory?id=4646234&page=3

Nonsense La-La Land

Tim Paradis, AP business reporter wrote: "Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points."

Woe, the Dow Jones Industrials slide 250 points and there are no bells and whistles, no red flags. Is everyone asleep.
Funny that the media is concentrating on Bill Clinton adding a few more lies to his wifes remarks about Bosnia. And strange that Obama's comment on the Pennsylvanians being angry, frustrated and bitter with 25 years of poor economic growth and job loss in their state that they are just fed up with Washington would warrant the media and other candidates to concentrate on that statement to twist and turn it on it's head. Strange also is the attention the news media place on Cindy (Mrs. Barbie-doll McCain) and how much more out going and out spoken she has become.

Yet how many people both in the news media and the viewers could say that they saw the news regarding the 250 point drop of the major industry of the Dow Jones commodities in the stock market today.

Where have all the BRAINS gone? To the not so important part of political nonsense La-La Land.

Summary Of Todays' Economic News

In todays economic news an Associated Press Business Writer, John Wilen, speaks on the possibility that by this summer we may be paying $4.00 per gallon on the oil at the pump. Yep some government watchers are warning that this summer driving season may be stopped in it's tracks by the price at the pump.

I read an article on abcnews.com in the money about Greenspan. 'He's Back' and with an attitude. "Consumers are beginning to shrink in, the automobile markets are beginning to contract, production is beginning to ease, and we are in the throes of recession," he spoke on CNBC. Funny, but haven't the CNN news media been stating every Christmas since December 2001 every single year how the consumers were spending less during the holiday season. Yes that's right. Every single year I do recall how the outlook on consumer spending shrunk more every Christmas season. In fact consumer spending did drop again during the 2007 Christmas Holiday spending. That is 7 plus years of Christmases which have seen less spending each year, yet Mr. RIPVANWINKLE Greenspan is just now seeing it as the beginning. Where has Mr. Greenspan been? Has he been asleep all these years? Why is everyone pretending that this recession just started.

On abcnews.com Joanne Morrison writes, "Pending sales of previously owned U.S. homes fell to a record low in February and consumer confidence hit a new low this month, according to reports on Tuesday that heightened recession fears."

From USA Today, Chris Woodyard tells us, "Suddenly the rich aren't getting richer — and luxury car dealers are joining other high-end retailers in feeling the pinch." Yes that's right, you heard it hear. The Luxury car sales saw a drop last month.