States Debt Pit: Meredith Whitney interview by CNN

I don't know how many of you have seen this video clip of Meredith Whitney, but if you haven't it is well worth the time. The topic is States Debt pit and was on CNN.


In the same article I read the following alarming fact: "Taxpayers have spent $4 billion since 1978 on California's capital punishment system -- and with only 13 executions to show for it. That's about $308 million per execution.

And without substantial changes, the state's total bill will expand to $9 billion by 2030, according to a new study by federal appeals Judge Arthur Alarcón and Paula Mitchell, his law clerk and a professor at Loyola Law School. The situation is now so severe, voters must choose to pay higher taxes or abolish the death penalty, the authors say."

To read the entire article click here.

Should we tap the Oil Reserves to help lower the price of Oil?

That is the question this morning on Candy Crowley's CNN program this morning. Sen. Dick Durbin believes we should and Candy pointed out to the Senator that President Obama says it should be used for supply shortages not to just lower the price of oil. There were no facts presented as to how many days supply do we have today and would using the Oil Reserves really prevent a setback to our economy if we don't use it. So here is one fact. There are about 726 Million barrels of Oil in our Strategic Oil Reserves. That supply would last only 34 days! Now here's the question for you given that bit of new information: Should we use the Strategic Oil Reserves to ease gas prices?

Source of data on Strategic Oil Reserves.

Lt. Gen. Russel Honore could lead Gulf Oil Spill cleanup!

Today on CNN's John King program, retired Lt. Gen. Russel Honore said we need to treat the Gulf Oil Spill as a War and mobilize every asset. From the government he said we should mobilize Army troops, the Navy and the Air Force to meet this crisis and take the fight off the shores and back into the Gulf. Honore is best remembered from Hurricane Katrina advisor to the media of New Orleans. He was the main person on the scene and was quite capable to do what was necessary to save lives and resolve problems. The other day I had suggested President Obama mobilize General Schwarzkopf, who headed the Iraq war. I would be just as pleased to have him take this Oil Spill cleanup and Oil floating in the Gulf. But Lt. Gen. Honore could mobilize and coordinate this problem to everyone's satisfaction. He is a man of action.

Inciting news or reporting news? A Free Press demands responsible reporting.

As I was watching a news clip from CNN this morning, fresh from Pakistan, I was listening to the announcer and watching the video footage of the "protesters clashing in the streets with police forces who were using tear gas in the Capitol." What I saw in the footage was a crowd of about 50 people. One individual was taunting police who stood behind a barbed wire barrier. The interesting visual here was that there were about 2/3rds of the people had cameras held high in the air to apparently capture the pictures of the taunting. I presume these were journalists for the most part. This begs the question, do the journalists incite the story or report on it. It looked to me that they were inciting the story as they significantly outnumbered protesters. You had to empathize with the police behind the barracade being photographed while being taunted. Ever wonder why violence breaks out in these situations?

Responsible reporting requires less drama seeking and more conscientiousness, as to ensure that reporting is actually done, not inciting the story. With the Freedom of the Press comes responsibility in accord with that privaledge.

U.S. Currency and it's effect on us.

It's finally happened, we've become more Mexican than you can imagine and it's not just from illegal immigrants crossing our borders. Remember the days when our leaders told us they supported a strong dollar? You don't hear that any more do you. That must mean that President Bush and his Administration favors a weak dollar because that is what we have. Think about this analogy, our currency today compared to the EU is 43% lower and dropping. We are becoming the cheap nation to visit for tourists. That's what Mexico used to be. The peso use to be so cheap, many Americans took vacation in Mexico. Now the table has turned and the U.S is becoming the Mexico for Europeans. This is part of a larger scheme to make the America's one large trading block with one currency, a cheap one!

Here's another piece of data you won't want to miss from an interview of Vicente Fox interview Oct. 8th on CNN's Larry King Live and some background:

Former Mexican President Vicente Fox confirmed the existence of a government plan to create the amero as a new regional currency to replace the U.S. dollar, the Canadian dollar and the Mexican peso, in an interview Oct. 8th on CNN's "Larry King Live."

It possibly was the first time a leader of Mexico, Canada or the U.S. openly confirmed a plan to create a regional currency. Fox explained the current regional trade agreement is intended to evolve into other previously hidden aspects of integration.

According to a transcript published by CNN, King, near the end of the broadcast, asked Fox a question e-mailed from a listener, a Ms. Gonzalez from Elizabeth, N.J.: "Mr. Fox, I would like to know how you feel about the possibility of having a Latin America united with one currency?"

Fox answered in the affirmative, admitting he and President Bush had agreed to pursue the Free Trade Agreement of the Americas – a free-trade zone extending throughout the Western Hemisphere – and that part of the plan was to institute a regional currency from Canada to the tip of South America.

"Long term, very long term," he said. "What we proposed together, President Bush and myself, it's ALCA, which is a trade union for all the Americas."

To read the entire CNN transcript click here.

This means the money you have saved this past 10 years has lost about 50% of its worth in the world. It also means inflation is right around the corner! Scary thought isn't it. President Bush can do even more damage as he has still one year left in office. It only took 7 years to ruin us for 3 generations. Think what one more year of his leadership will do. Hmmm, what about