Yuja Wang Shostakovich 1st Piano Concerto

David Chamberlin (1788 - 1854) - Find A Grave Memorial

David Chamberlin (1788 - 1854) - Find A Grave Memorial

Sea of white faces at Republican convention


"There is such a thing as a black Republican, but they have been all but invisible at the party's national convention which is hardly representative of America's diverse population.

"Among the party's 2,380 delegates gathered in St. Paul only 36 are African Americans and very few other visible minorities were to be found on the convention floor.

"This is the first time in 40 years that there has been such a weak representation of minorities at a major political party convention, according to the Joint Center for Political and Economic Studies."

No, those are not my words, are from an article in today's Breitbart.com.

This is something anyone watching the convention on TV could have noticed. I did. What a great contrast to the diversity represented at the Democrat's convention.

Condeleeza Rice has not appeared at her own parties convention, because the Republicans don't want to lose their great white votes.

This is not reaching across the isle as John McCain likes to say. It is, instead, a picture of the current race war in America - which will only get worse - for the white folks.

Will there be blood in the streets? Maybe, but I doubt it. The race war will be a slow grind where the whites are displaced mainly by Hispanics, and Black Americans.

Eventually, the grind will bring us to good riddance of bad white rubbish.

You see, I write, "bad white rubbish." Not all whites are bad, at most somewhere under fifty percent (my guess).

McCain has placed this inexperienced woman, Sarah Palin, with NO foreign policy experience a heartbeat away from being President of the USA.

Her experience? She was the mayor of a town of 6,000 people, a former beauty pageant queen of the same town, governor of a small state for two years, and a soccer mom.

Moreover, she is under investigation for her firing of a state official, because of allegations she sacked him for refusing to fire her former brother-in-law, an Alaska state trooper. Allegedly, She was upset that the state trouper divorced her sister. Sarah Palin is now under investigation for this (Troopergate).

Is this presidential material? How does McCain vet his people?

Is she ready to be Commander-in-Chief?

Now McCain has no argument about Obama's presumed lack of experience - not with his beauty pageant queen.

Why did McCain really chose this woman, who has no foreign policy experience?

McCain had a very good reason - he chose her because none of his other choices were willing to be on a losing ticket.

The bubble economy was caused by the United States Federal Reserve's run of low interest rates - Greenspan's irrational exuberance.

The nail piercing this bubble is the Iraq war, which has, so far, has cost the US $500 billion in military expenditures and about $1 trillion by such "unintended?" consequences as the rising price of crude oil and hidden inflation.

The transfer of wealth out of the United States for crude oil has been massive - an unbelievable $70 trillion over the past 30 years. You will not hear this from the news media, nor that that the cost to produce a barrel of oil in Saudi Arabia and other Middle Eastern countries is slightly under $2.00.

The United States hopes for the sovereign funds of these Middle Eastern countries to bail us out. Even tiny Singapore is making a $4 billion investment in Merrill Lynch.

The sovereign funds are buying America only to exchange their dollars for assets they hope will survive.

This gamble on the part of the Middle Eastern countries and Singapore may not pay off as the United States economy sinks due to the endless waste of assets in Iraq.

Junk bond interest rates in the United States are around 9.4%. Bearing this in mind, it is startling that a Citibank is paying a whopping 11% on a $7.5 billion convertible preferred loan from Abu Dhabi. If Citibank is paying a higher interest rate than a sub-prime mortgage lender, can we believe that there will be any affordable mortgage loans left?

The United States won the Cold War because the Soviet Union ran out of funds to compete in the arms race. The Soviet Union was defeated financially.

The sub-prime mortgage fiasco is only a symptom, used by the media to hide the real problem. The root cause is the fact that United States is losing the war on terror (whatever that may be) for the same reason that the Soviet Union lost the Cold War - lack of funds.

Is the United States being defeated Osama and friends?

Seems likely.

Stay tuned...

Where did all the money go?
...To Iraq (and friends), stupid

In the November 29, 2007 edition of the New York Times, Peter Goodman wrote. "Credit flowing to American companies is drying up at a pace not seen in decades, threatening the creation of jobs and the expansion of businesses, while intensifying worries that the economy may be headed for recession.

The combined value of two leading sources of credit — outstanding commercial and industrial bank loans, and short-term loans known as commercial paper — peaked at about $3.3 trillion in August, according to data from the Federal Reserve. By mid-November, such credit was down to $3 trillion, a drop of nearly 9 percent.

Not once in the years since the Fed began tracking such numbers in 1973 has this artery of finance constricted so rapidly. Smaller declines preceded three recessions going back to 1975; at other times such declines tended to occur in conjunction with an economic downturn. "

As usual, the media addresses only the symptoms, not the root cause of America's credit crunch. Blame it on sub-prime mortgages! Blame it on the lenders! Blame it on the banks! But please don't blame it on the reckless spending of the Bush administration.

During the Bush administration, the national debt has swollen from $5 trillion to $9 billion - a minus $29,900 for every American.

To support the war, and the price of oil, we have to borrow dollars. The real interest rates go up, as the federal funds rate goes down to stem the tide of foreclosures. Consequently, the dollar collapses.

Now how can the real interest rates go up while the federal funds rate goes down? Take a look at Abu Dhabi's purchase of 11% convertible notes from Citibank. Junk bonds are at 9.4%. This a a true measure of where interest rates are going - up, up, up. The federal funds rate decrease is just a band-aid to stem the inevitable tide.

The instability caused by the Iraq war has driven the price of oil to just shy of $100 a barrel. Does the media ever tell you that the cost of production of 1 barrel of Saudi crude is slightly under $2.00... two bucks!

Let's get back to Citibank's savior, Abu Dhabi. Citibank's convertible notes were purchased by $650 billion Abu Dhabi Investment Authority, the world's largest sovereign wealth fund. The $650 billion comes to $169,000 for each citizen of Abu Dhabi. Compare that to the US national debt, at minus $29,900 for each American.

The rape and selling of America to foreign interests will certainly help the US stock markets as it did when the Abu Dhabi purchase of Citibank's convertible notes was announced.

The citizens of Abu Dhabi will get only richer, while Americans can only sink deeper into the hole.

It looks like "game over."

Let's keep it simple

Unfortunately Osama seems to have won. The US defeated the Soviet Union not militarily, but economically. With the trillions spent uselessly in Iraq, the US housing market and the US dollar are collapsing along with the US economy, which is no longer sustainable.