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Speaking of "sassy back talk", have a look see at "Dear Dinosaurs", over at Asia Times Online:

"Then there is the ham-handed attempt by the three largest US banks to put together a rescue fund for the SIV (structured investment vehicles) sector. Among all the ideas that involved good money chasing bad, this one takes the cake. To think that none other than the US Treasury Secretary Hank Paulson chaired this effort leaves the rest of us with an astoundingly bad taste in the mouth - forgive me for being impertinent, but aren't you guys supposed to be the policemen rather than the thieves?"


This is the race to the bottom.
HAHA. I was going to use that exact phrase in my reply, but you already had it in your post. I was going to refer to the race to the bottom between the yen & dollar.

The Japanese can't win that race. The Fed & the US government have many more tools at their disposal to trash the dollar. The yen is now at 114 to the dolar. If it drops just a few more yen, the carry trade (already in trouble) will explode.

Frank, that is a very funny article. I like the Asia Times.

I don't think the banks' bailout fund was ever supposed to work. The banks are just throwing some chump change at the problem, so they can run to Uncle Sam when it fails, crying "We tried to fix it ourselves, but can't! Please fix it for us!"

Elaine Meinel Supkis

The saving plan for the SIVs is a 3 card monty game.

And yes, China is laughing at us. Alas. We can't afford this. And yes, the US can trash the dollar faster than anyone on earth, even Zimbabwe and they are working on beating the Germans, for crying out loud!


Where is the outrage over sky-high taxes, regulatory costs?
by Steve Higgins
7/15/07 - New Haven (CT) Register

"Reports last week from two nonprofit groups should serve as a wake-up call to Americans to start agitating for tax reform . . .

"On Monday, the Competitive Enterprise Institute reported that the cost to consumers of complying with federal regulations exceeded $1 trillion in 2006 . . . almost 10 percent of the nation's gross domestic product. It's nearly half the amount of government spending.

"Even more worrisome, the cost of complying with these multitudinous regulations exceeds the amount of individual income tax paid in 2006, about $998 billion, as well as corporate incomes taxes of $277 billion.

"According to the Washington, DC-based advocacy group [ Americans for Tax Reform ], the average American had to work through July 11 this year just to pay all federal, state and local taxes, as well as regulatory costs including workers' compensation and unemployment benefits.

"Congress should take one of two paths: Either cut tax rates and government spending drastically, or adopt the FairTax, an innovative proposal that would involve abolishing the Internal Revenue Service and its income tax and replacing it with a simple national sales tax."

--(End excerpts)--

. . . The U.S. income tax system and the U.S. economy are inter-related, and are in DIRE trouble. If we, the citizens of these United States, do not act aggressively to spread the FairTax plan with family, friends and associates - our "nest eggs" stand to be devastated through a coming economic meltdown (Summary with podcast: "Laurence J. Kotlikoff on Long-Term Fiscal Problems in the U.S.").

Politicians are putting demogoguery and pandering above responsible governing - and they're able to do it because Americans do NOT understand - at the "get go" - politicians' / bankers' hunger for ever-increasing shares of the working person's bi-weekly paycheck; Americans do NOT understand the totality of taxes they pay. The FairTax shines the "light of day" on this, putting citizens back in charge to forcefully demand spending reductons.

YOU AND I MUST ACT to mobilize public opinion, and get the FairTax enacted, because the signs point to a probable devaluation of the dollar (reissuance of an "Amero" ? - under a U.S.-sovereignty-busting North American Union ?).

[ NOTE: Does this help clarify your understanding of what's going on globally? a) Bush's persistence on rewarding illegal immigration? b) the North American Highway now under construction in Texas (to stream cheap labor into the covertly-planned North American Union marketplace designed to compete with 21st-century China market? c) the gradual increase in value of the Chinese yuan by China corresponding to China's economic growth? (This will result in the dumping of dollar-denominated debt as its manufacturing economy grows stronger - which guarantees devaluing and ushering-in of the Amero.) ]

Keep in mind, this NAU strategy - supported by the "super-rich" (member-owners of the Fed) - together with their politician buddies who want NOTHING to do with FairTax - runs contrary to simply making the U.S. a "tax free zone" for business under the FairTax. Politicians and bankers lose power when the U.S. is returned to a "savings-driven economy" from a "debt/interest-driven" economy).

Powerful "elites," members of political and monied-interest "clubs" reaching into the halls of power in Washington, depend on keeping you and me uninformed of their plans. It is up to YOU and ME to ACT - and not live in a state of denial - based on what we now know is clearly happening to our financial futures.

After you consult the Kotlikoff interview (above):

• (If you're a member of your State FairTax organization) Contact your state or local FairTax Director to learn what you can do.

• (If you're just learning about the FairTax bill) Join FairTax.org here: Scrap The CODE, NOW !

Elaine Meinel Supkis

The flatter the taxes, the more unfair. And the more they make the rich, richer and the rich then run off to 0% tax havens across the planet.

0% taxes don't work.

Elaine Meinel Supkis

What is worse is, all the yappers screaming about social security and paying for the poor are utterly happy with MILITARY ADVENTURES and if they ring up half a trillion a year in useless stuff that doesn't protect America, they are quite content.

I despise them. First, they should cut back military spending, We can all urge Congress to do this and vote for a President who will do this. If one is a right winger, this means supporting Ron Paul. Left winger, support Kucinich.


And tell the rich to stop using our roads and highways, airports, trains, public buildings and services, and utility companies because it was really the former middle class and the poor who have been paying the significant taxes for this infrastructure. Since supply side was enacted, the trend in trade and budget deficits has been downhill. It's time to upgrade the infrastructure, but there is no money to do it.

supra footwear

let's join our hands together to stop this kind of wrong doings. It may risk lives in the future if we just let them continue.

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