amount of money
It’s Tuesday January 8th! Do you know where your podcast is? On this day in history back in 1877, Crazy Horse and his noble warriors fought their final battle against U.S. military forces in Montana. General Nelson Miles of the U.S. Army located Crazy Horse’s camp along the Tongue River. According to what is formerly known as The History Channel, “U.S. soldiers opened fire with their big wagon-mounted guns, driving the Indians from their warm tents out into a raging blizzard. Crazy Horse and his warriors managed to regroup on a ridge and return fire, but most of their ammunition was gone, and they were reduced to fighting with bows and arrows." Read more
About a hundred years ago, our nation was engaged in World War I, and needed to simplify how the government funded its responsibilities. For the Treasury to be able to fund debts incurred from obligations already legislated by Congress without additional votes from Congress every time money was to be released, the debt ceiling was created.
The government website describes the debt ceiling best: “Indeed, the debt limit does not authorize new spending commitments; it simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have approved in the past.” (http://www.treasury.gov/)
The debt ceiling has been raised dozens of times, and typically with no fanfare, until… Read more
We have had 30 years of what has turned out to be horrible economic policy. All of the facts, when reviewed, will show that the system is failing the majority of Americans. But instead of admitting that failure, we are told that we need to double down. We have not been faithful enough to the system. We were bad capitalists who strayed into the arms of government hooch. Coming to save us is businessman, Mitt Romney. He has made his very profitable career with Bain Capital. Bain Capital specializes in private equity and venture capital. Mitt Romney is a man of the finance world. He has made decisions on a level of business that you or I could never begin to imagine. Mitt Romney has repeatedly touted his business experience as an asset towards reviving the U.S. economy. Read more
Welcome to the future Corporate America – an America that is no longer a People’s America but one that belongs to and is controlled by Big Money and big corporations. It really started trading hands once our United States Supreme Court ruled in Citizens United vs. FEC that money was free speech and couldn’t be limited.
The conservative majority of the court declared corporations as people and not only do they have the same rights as all of us but they have the right to use their money to speak louder than the rest of us by influencing our political leaders and by throwing unlimited cash into super pacs to defeat candidates that don’t kowtow to their agenda. Read more
A week or so ago, lots of people were linking to this New York Review of Books article by Steven Weinberg on "The Crisis of Big Science," looking back over the last few decades of, well, big science. It's somewhat dejected survey of whopping huge experiments, and the increasing difficulty of getting them funded, including a good deal of bitterness over the cancellation of the Superconducting Supercollider almost twenty years ago. This isn't particularly new for Weinberg-- back at the APS's Centennial Meeting in Atlanta in 1999, he gave a big lecture where he spent a bunch of time fulminating about what idiots politicians were for cancelling the project. Read more
It is a very impressive room.
A room; veritably dripping with power and authority.
The authority to make decisions for all 300 million Americans.
Decisions about whether the laws that Congress makes are in harmony with the Constitution.
If you have been even a casual observer and tracker of the decisions handed down by the body of men who occupy and work in this room; you could be forgiven if you stood up now and yelled at the top of your voice; “Yeah; Right”………………………………………………
…………………………………………I suppose that I should state for the record that I am speaking of the The Supreme Court of the United States. (SCOTUS for short). Read more
Maybe I was just confused.
Then; over time; I began to realise that far from being confused; I had a very good hold on what I thought and think about the various pieces of insanity that surround us; but…………………………………..
……………………………………….I did find; over the years that most of the folks who made the most noise about politics and were supposed to be the smart ones who knew the direction we should take and how to get to where we want to be turned out to be Very confused.
Either they don’t know what the American people want or they don’t care; I thought.
Then it came to me.
Politicians don’t run Governments. Read more
A little over 300 years ago, Antonie van Leeuwenhoek, a dry goods seller from Delft in Holland, learned to grind glass into lenses and fashion the best microscopes the world had ever seen. In those days, the idea of being a "scientist" as a profession was ludicrous. Natural philosophy was pastime for nobility or at least those with considerable disposable income. Leeuwenhoek was a successful business man, and in his spare time, he pointed his lenses at pond water (among other things). As Paul de Kruif recounted in his brilliant book Microbe Hunters: Read more
As the Republican candidates move from Christian, evangelical South Carolina to Florida, a state still rack Read more
December 7, 1764, 245 years ago, the Empress Catherine II ordered to open for inspection by it acquired from the Berlin merchant Johann Ernst Gotzkowsky collection of paintings by Flemish and Dutch Read more
As we’re about to say goodbye to 2011, let’s have a look at the most painful chapters in the US economy, that may have its after-effects even in 2012. Read more
The US national debt has recently surpassed the debt ceiling and has reached a staggeringly high amount of $ 15 trillion. Read more
A recent question about Richard Blumenthal’s Vietnam service has practically imploded the Connecticut Senate race. Richard Blumenthal has been the front-runner of the race for the last few months. Blumenthal’s opponent has given her campaign a 14 million no fax cash advance from her personal accounts, including income from the previous World Wresting Entertainment C.E.O position. Read more
This is big -- the President promised that by the end of his first term, he will cut in half the massive federal deficit we've inherited. And we'll do it in a new way: honestly and candidly.
"This will not be easy. It will require us to make difficult decisions and face challenges we've long neglected," President Obama said. "But I refuse to leave our children with a debt that they cannot repay -- and that means taking responsibility right now, in this administration, for getting our spending under control." Read more
Where the Money Isn’t
Making Sense, by Michael Reagan
Willie Sutton is wrongly believed to have said he robbed banks because “that’s where the money is.” He never said that, and anybody who says it now would also be wrong.
A bank’s principal function is twofold -- to be a depository for their customers’ money and to make profits by lending money and charging interest on the loans. Read more