Since Rick Perry has described Social Security as a Ponzi Scheme and has decided to Secede from the United States, we need to allow him to do so and take all of his billionaire buddies with him. I think it is now time for the United States to provide Governor Perry with a little slice of Texas for his own country. The part I am referring to is in Andrews County in west Texas where for $100,OOO Rick Perry signed the legislation to allow billionaire Harold Simmons to set up a radioactive waste dumping site. Now that Rick The Great has decided to run for President of the United States, Harold Simmons has apparently donated $1.2 million to Rick(The Great)Perry to help his presidential bid. Since Perry does not want any government regulations, the NATION OF PERRY-SIMMONS would not need a constition, an army, a police force, hospitals, trains, airplanes, or any kind of motorized vehicles. They would not need hospitals because billionaires and on-the-take-politicians are too unscrupulous to die from disease. No self respecting microbe, germ or virus would go near them for fear that they would mutate into some kind or organism that would alter their way of life.
There is one problem with this proposal. It appears that Perry and Simmons have violated the laws of the United States with respect to the setting up of the nuclear waste site. I doubt if the Federal Government will allow the State of Texas to dump nuclear waste because any nation or any corporation could dump their waste on United States soil, poison the soil, the water supply, and the citizens of the United States, Canada, and Mexico.
There is another problem associated with Rick Perry and his candidacy for President of the United States. Mr. Perry likes executive orders or signings whereby he can bypass the congressional and judicial system or our government and become a unitary executive or the supreme ruler of our nation without any checks and balances. An example of this tactic used by the Texas Governor is the appointment of persons to boards which govern the various functions of the State of Texas. For example, Perry appointed a person to the board governing teacher pensions so that funds from these pensions could be monitored and used at his discretion. In exchange for such a favor one such candidate paid the governor over $100,000. There are hundreds of such organizations in Texas such as the board that governs drugs. An appointment to the drug board provided Perry with another large amount of money and provided drug companies with many favors in return such as freedom from law suites in case the drug killed the patients who had been administered a particular drug. In fact in his years as Governor, Perry has become a very wealthy multimillionaire . If Perry were to be elected as President of the United States we would expect the same tactics to be instituted at the national level because Perry does not believe in governmental regulations nor does he believe that receiving money for appointments or for any other reason constitutes an illegal act. In this instance and many others, he is a reflection of the ethical values of the Republican Party and of individual Republicans who are willing to sell their souls for individual gain at the expense of the national interests.
The Federal Government and private corporations tend to fund large technologies and to overlook small technologies that cost relatively small amounts of start up costs and yet can make significant changes in our quality of life. One example is planting gardens on the roof of apartment and commercial buildings. This innovation can save thousands of dollars in energy costs with a small outlay of renovation costs. Another example is the use of rail systems which are rarely used, but can be used for public transportation in both metropolitan and rural areas. For example, in the Portland, Oregon metropolitan area and the Willamete Valley, we have short rail lines which are already in place, and can readily be used with the installation of new platforms for passengers to step onto the train. We have one line which runs from downtown Portland to Wilsonville. This provides cheap transportation and saves commuters time and money which would otherwise be used sitting in traffic on the freeway. This train is composed of an engine car with passenger seats and one other passenger car. We do have a light rail system which has been rebuilt after it was abandoned during the 1950’s. It works well but has problems in the winter time when the overhead lines freeze with coats of ice and the railcar stalls. We could easily connect the coastal regions of Oregon using the existing short rail lines. Our own small community of Sherwood has a little used rail line which could also be used with a similar passenger rail car. At one time there were small passenger rail cars linking communities together all over Oregon so we would only reintroducing an old idea at a small cost.
In the area of power generation, the windmill farms are providing more energy than we can utilize because our power grid is not capable of transmitting all the available power being produced. Having traveled all over the western states in motor homes for several years, I know from personal experience that we have an abundance of wind energy that has not yet been utilized. Many times I have fought the wind in trying to keep the motor home on the road because it acts as a large sail. Large trucks have the same problem, particularly those with smooth sides. We are currently subsidizing oil companies for drilling for oil while ignoring the power grid and the storing of mechanical energy from the windmills until it can be converted back into electrical energy. One way to overcome this problem is to place fiber flywheels next to hydroelectric dams and windmill farms. These fiber flywheels already exist and can be spun up to 60,000 revolutions per minute or more and allow the storage electrical energy as mechanical energy until it is needed as electrical energy. The fiber flywheels run in a evacuated chamber and now have magnetic bearings so that their usable life is greatly extended. The fiber flywheels can also be used in automobile, trucks and locomotives. They can be used to capture energy in braking, or they can be charged through the electrical grid and used in automobiles in place of lithium batteries which contribute to pollution when discarded. The gyroscopic effects of using fiber flywheels in cars has been overcome, so there is no excuse for ignoring their use in cars along with electrical storage.
ALEC is an organization which is made up of some of the richest persons and corporations in the United States. It produces boilerplate legislation for state legislatures throughout the nation which are often passed without any thought by the legislature of a given state. It patterns itself after the Propaganda Techniques of the Nazi Regime of World War II. Lately, as an example, it was running advertisements on the Oregon Public Employees Retirement System to try to sway public opinion on those employees who had retired and moved to other states to retire. If a retiree moves to another state, that retiree has only to pay taxes required by the state of their present residence. This right was won by a women who moved from California to Nevada after she was retired and was required to pay California taxes even though she had not lived in that state for fifteen years. She had sued the state of California in Federal Court and won. This right was extended to every retiree throughout the United States. The corporation running this advertisement was none other than Comcast, one of the largest cable companies in the United States, and which extended its reach into politics by recently purchasing CNBC.
A woman who works for ALEC, had written that ALEC was based upon the Republican principles of President Thomas Jefferson and the Federalist Papers. At the time the Federalist papers were written, there were basically two parties, the Federalist Party and the Republican-Democratic Party. The Federalist Party became the Whig Party and the Republican-Democratic Party became the Democratic Party. The Whig Party then became the Republican Party, so to link Jefferson to the Republican Party by the woman from ALEC was a complete misrepresentation of Jefferson’s political beliefs which were very liberal. I asked the woman from ALEC if she had ever read the Federalist Papers because if she had she would not have made the error of trying to tie Jefferson to the conservatism conveyed in the Federalist papers. After I wrote my email to her she changed the introduction, but still tried to tie Jefferson to the conservatism of the Federalist Party.
The Republican members of the Supreme Court are all members of the Federalist Society. In fact, justices from both the Republican and Democratic members of the Supreme Court have looked to the Federalist Papers in making decisions throughout the history of the Supreme Court. The Federalist Papers defined our system of government and our nation as a Republic and not a Democracy as defined by the city state of Athens, where decisions had to be made by the people gathered in one place such as a public square. Obviously in a nation the size of the United States, a voice vote of all the citizens gathered in one place would not work, so we now have elections at the Federal Level decided by the Electoral College where members of the Democratic and Republican Parties are chosen at the state level and are expected to cast their votes for their respective candidates. This system worked well until the Supreme Court decided to appoint Bush as President in the 2000 election rather than allow a recount in the State of Florida. Again this same group of conservative justices looked the other way when the wide spread voter fraud in the state of Ohio again favored Bush in 2004.
When the Republican Members of the Supreme Court voted in the Citizens United Case to make Corporations a person, they extended their prejudices even further by allowing corporations to donate millions of dollars to any political candidate of their choice without any disclosure as to its source, its candidate, or the amount of money. In recent elections in the states of Wisconsin, Michigan, Indiana, and Ohio corporations under the umbrella of ALEC have purchased votes by buying and paying for Governors and State Legislatures whose politics are aligned with their own interests and beliefs. The Republican Justices of the Supreme Court claimed that corporations should be allowed free speech just as individual citizens enjoy free speech, but unless an individual is extremely wealthy, free speech can be very costly. I cannot make much of a dent by donating a few dollars to a candidate of my choice.
If you want to read the Federalist Papers for yourself, you can download a PDF copy free. These papers are not easy to read, but are well worth your time if you are interested in the history of our nation and the reasons we have evolved as we have both politically and economically. You can also buy a copy by visiting my Amazon Store.
My wife and I keep getting surveys from the Democratic National Committee on what the party should be doing to improve the economy, get elected, and improve the party’s chances in the next election. I do not particularly like surveys because they are too simplistic to be of much value to anyone and often do not allow one to express a detailed thought on how to solve the long term problems of the nation. So, I thought I would take this opportunity to share my experiences with being born during the great depression and the consequences of growing up during the depression.
First of all, there are many families who are so poor that they would not recognize the difference between one depression versus another. These families come from every nation on this planet. Many will remain poor during their entire lifetimes, and they are not all lazy, ignorant and poor managers of their resources and time. It is difficult to escape poverty even with the best on intentions and the best work ethics. A person often has to have a helping hand or a burning desire or an unusual opportunity to escape poverty.
I grew up in a family of eight children, with five older sisters and two younger brothers. Each of my brothers and sisters have different memories of how hard they had to work, who had the best opportunities, and other details too numerous to mention. None of us had much in the way of material possessions, but we did have enough to eat and were able to go to school. My father and mother were both raised by their fathers because both of their mothers died when they were children, so their family was important to both of them. My father started working at age 14 years. He worked on ranches in Wyoming, and at odd jobs relating to the construction industry, so by the time he was an adult, he had developed skills in building and the construction trades that kept him self-employed most of his life. During the Depression he worked on the development of the irrigation districts and projects that were sponsored by government funds under President Franklin Delano Roosevelt Reconstruction Programs. My father followed the construction of irrigation projects starting in Minatare, Nebraska, to the Black Canyon Dam in Idaho, to the Owyhee Dam in South Eastern Oregon, to a dam in Central Oregon, an irrigation project in Baker, Oregon and finally back to Vale, Oregon where he and my family spent twenty eight years before moving to Colville, Washington in the 1950’s. Because of the nature of the work during the depression, such as twenty hour days, my father became ill in his forties and was not expected to live. He still had to work and by the time he reached his fifties, his health had improved and he was able to take a job as maintenance foreman for the Vale Oregon Irrigation District where he worked until age 66 years before he retired. My father died about two weeks before of his 88th birthday. My Grandfather was born in 1842, so he was eighteen when the Civil War began, and he was also 88 years of age when he died. This makes me the third generation from the Civil War. I grew up on a farm which we homesteaded, meaning the farm was in sagebrush and had to be cleared before it could be farmed. We had to build a house, improve upon the land, and farm it for seven years before the deed was transferred to my father and mother. Like many of the families the children had to work to enable us to survive. We first farmed with horses which I learned to harness and hook up the farm machinery at an early age of about nine. From that time forward, I took on more and more responsibility until the farm was sold in about 1955. I did most of the farming with the help of my middle brother. My sisters were all gone from the farm by 1948, so the family of eight was reduced to three. I started college by the fall of 1952, but I still spent my summers farming during that time which included helping to milk cows, manage crops like haying and growing potatoes, corn and other crops. My mother’s life was not easy during these years because she spent much time raising a huge garden, canning fruits and vegetables, sewing, ironing, cooking and cleaning house. Her lifelong hobby was growing vegetables and flowers. She loved the latter and continued this hobby until she died of Lou Gehrig’s Disease(ALS) at the age of 74 years.
When I hear the Speaker of the House, John Boehner complain about having to sweep floors in his father’s tavern, I cannot have too much sympathy for him because all of my classmates grew up in far more demanding circumstances than he did because we started early in the morning doing chores and had to start in doing more chores once we got home. I have never considered any kind of physical labor demeaning. My day started at 5 a.m. and finished at 10 p.m. We had to be on the school bus by 7:30 a.m. and got off at 5:30 p.m. I would get a snack before starting chores because the time from noon until our night time meal at 8 to 9 p.m was long. I had no time for homework because by 10 p.m. I was exhausted. While my grades suffered because of missed homework assignments, my learning did not. Once I started to college life became easier because for the first time in my life I had time to concentrate on assignments other than work. I compared notes with one of my classmates and found out that we were just one of many families who were poor. The great depression started in 1929 and lasted until after World War II for most of us. We had food, a few clothes, but very little money. In fact, I spent about two hours looking for a 50 cent coin that I had lost while taking a path across a field on the way home from school. My mother earned extra money selling eggs to the local grocery store, so she depended upon the money she earned to supplement our meager income. My first wife had more clothes in High School than all five of my sisters combined. I never talked to her or our children about my family circumstance because it would have been futile.
This current recession started in the year 2000 when George Bush II was appointed by the Supreme Court as President because of the failure of the State of Florida to conduct fair elections. He was again appointed because in the following four years nothing was done by the government nor the Courts to make certain we have fair elections so this time it was the State of Ohio chose to ignore fair elections. At present the Supreme Court is at it again by passing the most unfair and stupid bit of legislation in the history of this nation by making a corporation a person when it sided with the Court Case of Citizens United. We now have a Bush Supreme Court continuing its unconstitutional pattern of supporting the rich against the poor by supposedly allowing a corporation free speech. Now we have the Koch Brothers holding secret meetings of the rich people, which include Supreme Court Associate Justices Scalia and Clarence Thomas prior to their vote to make a corporation a person. This has the appearance of a conflict of interest where two Associate Justices attend secret meetings having to do with making a corporation a person and then casting votes in favor of this misguided and stupid law. One person called in and asked if the corporation had to have a birth certificate which should give the “birthers” something new to chew on. The present depression was caused by another set of laws which were put in place during the 1930’s. One was the Glass-Steagal Act which prevented insurance companies and banks from selling securities. This law was voted out of existence by the Republican Party in 1999 and was signed by President Clinton. It should be reinstated because there is no regulation in the Insurance or banking industry which keeps them from squandering a person’s money. It is a case of the mouse guarding the cheese. Another was the lack of supervision of agencies such as the Environmental Protection Agency which was practically starved to death by lack of funding. Yet another was the lack of supervision of the banks, insurance companies, the stock market traders, the lending agencies, the lack of funding of two wars in Iraq and Afghanistan, the policy of open warfare by the Bush Administration against organized labor and against public school teachers which included the opening of Charter Schools which were supposed to revolutionize education in the United States. I learned recently that in some of the Charter Schools you are required to teach ten to twelve hours per day and are not allowed to join a union. Having worked in the field of education for 32 years, I can attest that it is a demanding job that does not pay much compared to other occupations. has more and more students with mental and behavioral problems, and a greater non-teaching personnel who do little but burden the teaching staff with programs that do not work.
At present, due to the Koch Brothers who combined have a net worth of about 104 billion, we have Governors in the States of Wisconsin, Michigan, Ohio, and Pennsylvania, whose campaigns have been financed by the Koch Brothers, with the express purpose of doing away with labor unions, both public and private, and privatizing as much of government as possible so that they can control more industries. We have the wife of Associate Supreme Court Justice Clarence Thomas working for the Tea Party and earning over $800,000 dollars but failing to pay any taxes on those earnings. Maybe she thinks she is a corporation and does not have to pay taxes. In fact, one of the reasons for the current recession is that corporations do not pay taxes on their earnings, which is strange because they are now persons and should have to pay taxes like any other person or go to jail. The Supreme Court has done more to continue to extend the current recession by supporting big corporations than any other branch of government. We either have to wait until they die or try to impeach them and have them removed from office, but that will not happen because we would have to have a House of Representatives with a majority to do so or a coalition willing and able to work together. Currently, the Chief Justice John Roberts is not doing his job of keeping the Associate Justices Thomas and Scalia under control. So the current recession may well continue for 18 years as it did for my family, and the new persons, Corporations, will continue to sell this country to any other nation it chooses. If the Middle Class continues to disappear due to the lack of patriotism by the Supreme Court, the new persons–the Corporations–and the lack of concern by our other branches of government and our own citizens, we may well become a nation where 99 per cent of our citizens live in a constant state of recession or depression.
The primary difference in the current depression and the one in the 1930’s is the lack of agencies such as the CCC’s, the NYA, the WPA, and the PWA which helped to get people, particularly the young unemployed citizens, out of the cities and into the vast areas of the United States to rebuild our infrastructure. We currently need high speed rail, bridges rebuilt, schools rebuilt, and scores of other tasks that could be done by our corporations, if we had some which were interested and patriotic enough to do something for this nation instead of ones such as China and India.
We need to change the tax code so that the politicians, corporations, and the rich pay their fair share of taxes. We also need to prevent the wealthy and the corporations from setting up off shore accounts as a means of escaping taxation and using such accounts to claim they are an international corporation in order to avoid paying taxes.
The Party of No! has a new no nothing agenda planned for the citizens of this country. Here is a sample:
1. Repeal the new Health Care Law and give it back to the states. This fantastic idea is now being put forth by Congressmen from Arizona. Since when did the State of Arizona have any new ideas worth considering?
2. Take all private and public pensions and confiscate their assets. I could hardly believe I was hearing this one. Public pensions are under assault because some states have used the money for other projects and are now not able to fund the pensions of those who paid into them over many years. This is another example of the kind of governance we had under the Bush Administration. How is this different from the Bernie Maddoff Ponzi Scheme? The private corporations used this tactic to escape the pension plans set up by labor unions and transferred it back to the Federal Government while they abandoned the US workers and set up shop overseas. What is missing is this whole scheme is that if you take away the buying power of the retired citizens of this country the net effect is to make the US a third world country unable to support itself. The public employees retirement system(PERS) for the state of Oregon is not only solvent, but it returns a surplus of income to the State of Oregon in the amount of about one and one half billion dollars to the treasury after all the bills are paid to its employees an to its retirees.
3. The Republicans have called President Obama the most corrupt President the United States has ever had. When questioned about this they tried to retract the statement, but they have promised to spend the next two years holding hearings and wasting taxpayer money investigating ever law passed in the last two years. So the Party of No now becomes the Party of Useless Hearings wasting the taxpayers money and collecting fees from corporations who pay them to do their bidding. The TEA PARTY EXPRESS is basically being ignored while the Republican Party brings this country closer to bankruptcy.
4. Finally, I would call upon my fellow citizens to demand an accounting of everything our politicians do that does not rebuild the factories and infrastructure of this nation, that taxes corporations importing goods and materials from other countries and that does not actively reward the middle class for its labors. If we do not do so, we will have lost all that we have worked for to build this nation.
I do not know what the Senate rules are for censoring one of its own Senators, but something needs to be done when Senator Mitch McConnell apparently intends to spend the next two years making certain that President Barack Obama does not get elected for another four year term. If that is all he intends to do then he should resign from the Senate and form his own party and raise money to defeat the President if he decides to run again. Even though I am from the State of Oregon, when a Politician such as McConnell is dedicated to getting rid of the health care bill passed by the last congress because he can no longer receive money from the Health Care Industry, particularly if we should turn the health care bill into a Public Option, he should be publically censored by the Senate. I am outraged that McConnell, according to one source leads the way in receiving money from the Health Care Industry. If he is so opposed to the changes in the Health Care Industry, why doesn’t he give up his health care benefits as a Senator and buy his own health care plan on the open market as he is advocating for every ordinary citizen. Every Senator, whether he or she is directly from your own state, represents you as a citizen of the United States. So why should we allow a Senator to spend his time and our money, we do pay his salary even though he is from a different state, on the sole purpose to ensure that President Obama is a one term President of the United States.
My view is that the Republican Party has forgotten that we are the United States of America and that even though they would like to be in power, they must have more important duties than simply oppose every good idea the Democratic Party has to offer, and whether they like it or not, the Health Care Legislation while flawed is a step in the right direction.
Censoring Senator Mitch McConnell should be the first item of business by honest and patriotic Republican Senators, because in a time of war for a Senator to make it his sole priority during the next two years to defeat the President of our Great Nation sounds to me like a treasonable offense. So what about it, you who are members of the Senate, are you going to allow a member to do nothing positive for the next two years but thwart the President of the United States? Where is your oath of allegiance, your duty to uphold the constitution of the United States and to care for the welfare of all of our citizens? Have you forgotten why you were elected in the first place? Why do you not do something about the Supreme Court of the United States which has extended its powers, at the expense of both the Congress and the Executive Branches of out government? So far their policies have favored the Republican Party, but in the long term it will affect both the Republicans and Democrats, and the Executive Branch regardless of who is in power. So my challenge to both the Senate and the House of Representatives is to get off you duffs and do something positive for a change. As for the Supreme Court, you also need to set aside your petty one sided view of the world and do something to restore the power you have stolen from the other two branches of government, but your brains seem to be missing when two of your members attend a meeting of the Billionaire Koch brothers to plot ways in which to give more money and power to giant corporations. What happened to the phrase “of the people, by the people, and for the people”? It appears to be construed to mean for “of the corporations, by the corporations, and for the corporations” or “of the Republicans, by the Republicans, and for the Republicans,” and to hell with the rest of the nation.
To update the information on Senator Mitch McConnell of Kentucky, in the recent election, he raised more money than all of the seven other members of the Senate and House combined, i.e., $20,652,563. Six of the other members raised less than $2,000,000 and one raised less than $1,000,000. My question is: “How much money did Mitch receive from lobbyist to increase his own wealth?” Until we as members of the public understand how politicians at all levels profit from public service, to the extent that they will do anything to protect themselves and other millionaires from tax increases, we will continue to have politicians whose only goal is to obstruct any legislation which benefits the working class of this nation and continue the shipping of jobs to China and other nations which do nothing to provide manufacturing and innovation in scientific and technical pursuits which have made this nation a leader in the world.
We keep hearing about becoming independent of the Oil Companies and their million dollar contributions to judges, representatives, senators and any other person or entity that alter a vote, or provide legislation favorable to big oil. We need to quit trying to guess what the oil companies want and need and try to look at what is best for the common good of the people of this nation. How about considering some of the following:
1. Develop Hydrogen as a source of energy for the nation. I am certain that with a concerted effort such as occurred in World War II, we could have a Manhattan project to develop a nation wide project to use hydrogen as a fuel source. A recent article suggested using ammonia as a source of hydrogen. Other sources of hydrogen incorporate using a catalyst to break the hydrogen bonds and creating hydrogen by demand either at the home level as suggested in Switzerland or in moving transportation as suggested by the Jet Propulsion Laboratory. Still others suggest using solar panels as a means of breaking the hydrogen and oxygen bonds in water to create hydrogen on demand. Many of these do not demand a nationwide system of pipelines and storage facilities for a complete system for the use of hydrogen as a fuel.
2. Green buildings are not only affordable but are easily built as new construction or as a retrofit. Using the latter, building simple rooftop gardens on existing buildings can save millions in the loss of heat or in air conditioning costs which result from black roofs which absorb heat in the summer. Using silver colored shingles can cut the costs of air conditioning in the summer. Retrofitting buildings with solar panels and new low e windows can effectively lower the cost of heating and the loss of heat via conventional windows. Also, there are some new buildings either under construction or already completed which utilize solar panels, vertical windmills, and rooftop gardens to move this country toward self sufficient sources of energy so that our nation is not held hostage by foreign oil.
3. The move toward a self sufficient oil free future needs to be done on a national scale with the federal government supplying incentives to US based industries, and state and local governments to provide the means of developing and using and employing our own citizens to develop such a system. The Manhattan project was begun in World War II to develop the atomic bomb and became an example of the cooperation of all levels of industry and the universities to develop an atomic bomb before Germany and Japan did. It is amazing that when our security is truly threatened that we as a nation can unite and use our vast resources to protect ourselves. Practically every country subsidizes research and development to help its own citizens to earn a living. It is considered a Patriotic Act. In this country, the idea of considering our own citizens first has been labeled Socialism or Fascism or Communism. Patriotism means using our common resources to build a proud and self sufficient nation. If we want to continue as a nation, we have to rebuild this nation with our own citizens and with jobs provided in the United States. Out sourcing all of our manufacturing to other nations while neglecting our own citizens is a prescription for national disaster.
We have many problems including the oil spill, the monetary problems with the banks, insurance companies, and stock market, the political deadlock in Congress, the Right leaning excesses of our Supreme Courts, and what has become a nation by the corporation, of the corporation, and for the corporation. We are not in danger of becoming a socialist nation, but we are being dominated by multinational corporations who care nothing about the citizens of the United States. The idea of loyalty and patriotism and personal sacrifice to the welfare of this nation has slowly declined since World War II. The wealthiest one per cent of this nation care only about their personal wealth and will do anything to protect themselves from paying taxes by removing their money into secret and protected off shore accounts. The bailouts of the banks and insurance companies came about due to the repeal of the Glass-Steagall Act of 1933, which was passed after the 1929 stock market crash to prevent the wild speculation that occurred in the past decade and resulted in two costly stock market declines and then the meltdown of banks and insurance companies. The instrument used to bring about this meltdown was the derivative which should have been a commodity product with a margin requirement. Instead it was allowed to be sold to very wealthy individuals without a margin requirement so that the banks and insurance companies could leverage the money a thousand to one or more. This would be like buying a house for $500,000 with a down payment of $50.00. Not only was there no margin requirement, there was no transparency so even the investors had no idea of how their money was being invested. Let say you had a CD of $500,000 invested in a bank, and the bank could take your money and invest it in a derivative without a margin requirement. The bank was essentially using your money as collateral for a smoke and mirrors derivative, but the investor did not have to post a margin of 20%, 50%, 75% or at best 100%. To give you an example of how risky this kind of transaction can be, the Hunt family tried to corner the market on silver in the 1970’s, and ended up have to sell valuable properties at a discount because they could not meet the margin requirement. They lost millions of dollars partly because the Silver Commodities Board changed the margin requirements for the purchase of silver in midstream and made them retroactive in order to punish the Hunt family. So if you had purchased $100,000 of silver with a margin requirement of 50%, you would have had to pay $50,000 to own a $100,000 worth of silver. If the margin requirement was changed to 75% in midstream, you would have to pay an additional $25,000 to own the $100,000 of silver. This was what was done to the Hunt family by the Silver Commodities Board, except there were millions of dollars involved. Also, if you purchased 10,000 ounces of silver at $10.00 per ounce, with a 50% margin, and the price went down to $9.00 and ounce, you would have to add $10,000 to bring your margin back to 50%. However, the banks and insurance companies had no margins plus they could hedge their bets by placing a put or call to make money if the price went down or went up. What a sweet arrangement for the banks and insurance companies. They had your funds on deposit and were free to play with your money in any irresponsible manner they chose and when they got in trouble, they went to the treasury for a bailout of taxpayer money. If a private citizen did this kind of fraudulent transaction, they would be put in jail. So when your congress person or supreme court makes a statement or makes the corporation a person and rewards that corporation, bank, or insurance company with additional funds without any penalty, just remember our government is no longer of the people, by the people, and for the people, it is of the rich, by the rich and for the rich, or you can substitute corporation for people.
By Walter Bell, Ph.D. 01/2011
Since the Supreme Court has now declared that a Corporation is a person, I now have many questions about this person:
1. Does a corporation have a Mother and Father? Was the birth of this person conceived by sexual intercourse or donated sperm?
2. Is the corporation a US citizen, an illegal alien, a terrorist, or a naturalized citizen of foreign birth? This question is important because if it is not a US born citizen, it cannot run for the Presidency. If we re-instate the draft, could a gay corporation serve, or would it have to be drummed out of the military? This makes me wonder if Cheney’s favorite corporation, The Blackwater Group, is gay? If so, we could send them off to do other tasks that have nothing to do with killing civilians in places such as Iraq.
3. Since a corporation is now a person, does it have to file an income tax return, receive its own Social Security number, and can it file for disability, and/or receive social security, medicare, or medicaid benefits?
4. How is the sex of the corporation/person determined? What if it is gay? Could it marry another gay, under some kind of same sex marriage laws which is illegal in most states?
5. Can this person/corporation involve itself in bribery such as paying a Member of Congress, a member of the Supreme Court, or a member of the Executive Branch for a favorable vote as a Lobbyist?
6. Can a member of the Supreme Court become a corporation and pay lobbyists to give money to a Member of Congresss to vote for an outcome favorable to the member of the court? Since Justice Scalia and Dick Cheney are such good buddies, maybe we will soon see a corporation, known as Scalia/Cheney, Inc. with a subsidiary known as Waterboarding/Hunting Club,Inc. with a corporate slogan: “If Waterboarding doesn’t work, then have our hunting club Shoot them for target practice.”
7. Or, since Justice Alito, is such a staunch supporter of the Unitary Executive Theory making the President a Dictator, will we soon see his favorite organization, the Federalist Society, run for President so that all the members of the society can become a collective President known as “President Federalist.” In this way, Alito could remain a Justice of the Supreme Court and a Collective President known as “President Federalist, et.al.”
8. Since a Corporation is now a Person, why not merge the right wing members of the Supreme Court into a Corporation which could pay Senators to vote for more potential right wing court members so that there would be no more 5 to 4 court decisions? We would have all 9 to 0 decisions.
9. I am certain, that my readers will come up with many questions of their own. In fact, maybe we could form a Corporation known as The Supreme Court Lunacy Voting, Inc. We could then run for Congress, hire lobbyists to help other members of Congress to vote our way. It now occurs to me that we could eventually have a Congress made up of Corporations only, and we could work to have one giant corporation become the Supreme Court, the Congress, and the Executive branch all combined into one. This corporation could be simply called the UNITARY EXECUTIVE CORPORATION which would greatly simplify decision making. Our Unitary Executive Corporation’s motto would be “It is our way or the highway.”