CITIZENS ARE FRUSTRATED, DEMOCRACY HAS FAILED

sophists, and Machiavellian mafiosi.Democracy tends to kleptocracy.Anarchy
should replace democracy.the Watergate scandal in 1974.Our so-called political leaders have just
completed a grand game of chicken, and the United States is the loser.

American pseudoleaders might deteriorate to the miserabble level of
Graecokleptocrats!The impunity of the 300 Graecokleptocrats of the Grand
Brothel on Syntagma Square is the most freakish thing on Earth.Even though
Graecokleptocrats looted many billion euros in kickbacks and churning, not a
single Graecokleptocrat has ever gone to jail!They are protected by the
parliamentary immunity, and nobody can touch them, no matter what. Moreover,
they have the nerve to jail dissident bloggers.It's a long way from the 300
Spartans of Leonidas!Allons enfants de la Grece!spending, revenues, and debt limits.Suffice it to say that cutting a little
over $2 trillion from the projected ten-year deficit is akin to losing seven
pounds off a starting weight of 350.We will still have accumulated deficits
over that time frame of $7 trillion, and we still confront total debt and vested
liabilities of perhaps $90 trillion.

Stimulus funds stimulate government, not the economy.Downturn in a business
cycle is painful but necessary medicine for restoring equilibrium to the
economic system.Reject further lowering of the interest rate (stimulative
monetary policy) or any other attempts (for example, deficit spending or
stimulative fiscal policy) to stimulate demand.a*serts we can't cut entitlements.Both sides are wrong.Entitlement costs,
especially healthcare, will eat us alive.Without real reform of affordable
health delivery, not just reform of access to health insurance, the US economy
is doomed.More generally, at all levels, government has given away the future
to buy votes in the presenta truly bipartisan effort over decades.On the
revenue side, we will need to increase taxes, broaden the tax base, and reform
the tax code or we are also doomed.

The Federal Reserve refuses to give a public accounting of the trillions in
recent taxpayer-backed loans.Congress has the responsibility to force a public
audit of the Federal Reserve, and the American people deserve to know how their
tax dollars are being spent.Allowing the Fed to remain out of control and
shrouded in secrecy clearly allows for abuse and the continued stealing of our
tax dollars through inflation and unaccounted electronic bank loans.

Sahlman notes that because the negotiated settlement of the debt crisis was so
lame, Standard & Poor's has downgraded the country.Instead of asking whether we
are in greater danger of long-term financial difficulties, everyone is blaming
the bearer of bad news, pointing out that they weren't exactly prescient in the
recent financial crisis.That is true but irrelevant.You don't need a crystal
ball to see that we have an unsustainable business model and no political
process for change.

Most institutional investors have regulatory fiduciary requirements that
necessitate the use of credit ratings as part of their daily business. They may
think that the three CRAs really have no useful insights, but they still need to
use their ratings.So this business is pretty much like any business that is
given a legislative right to serve.CRAs could not have possibly been more
wrong on their ratings of U.S.mortgage debt instruments. Chimps throwing darts
are much better than pseudoexperts are!

The three largest credit rating agencies (CRA) Moody's, Standard & Poor's,
Fitch are ready to downgrade PIGS again.What PIGS are experiencing at the
moment is a shock and awe.But it was also overdue.PIGS are not innocent when
it comes to their decline.But providing PIGS with extended maturities and
lower interest rates is in no way a true solution.PIGS need restructured debt
in order to have a little breathing room.marilizardism, incivility, stupidity, charge stacking, and junketing.Banks
cannot participate voluntarily in illegal acts, such as fiduciary imprudency.

Bank directors are committed to bank's welfare, and not the public interest.If
bankers waive outstanding debts at the expense of the bank, this is a breach of
trust and punishable by law.All those bankers, that IIF claims plan to
participate in rollovers, might go to jail for violating the fiduciary duty of
prudency!Venizelos of October-18 Mafia pressures the banks to participate, but
he really opens a Pandora's box.

Sahlman a*serts that what we need is simplegrowth.We need the economy to
expand.We need people to feel that they can get a job, that their children will
be better off, that tomorrow will be a better day.Where does growth come from?
The answer is equally simple.Business, especially new business, creates jobs
and prosperity.

We need to stop arguing about how to slice a shrinking pie and start working to
grow the pie.We need lots of investment in research and development.We need a
better educated and trained workforce.We need talented immigrants to work their
magic in the economy.We need to use existing government and private dollars to
fix infrastructure and create opportunities.We need more venture capital and
more entrepreneurs.We need more competent CEOs of major companies who will
invest wisely to create new valued products and services.

Sahlman a*serts that private action can overcome partisan haggling and
incompetence. America is a great country, because it has citizens who constantly
search for new ways to improve the world.We have willing investors.We view
crises as opportunities.We, the non-politicians, need to accept responsibility
for fixing the country and get on with it.
Jim Beam Bacon Mustard, 11-Ounce (Pack of 6)