Riding Herd on the Financial Range - # 16
Washington's insanity is a blue print from the Saul Alinsky book Rules for Radicals
7.14.2009
Howdy Folks,
This is quick update tonight as I have a huge honey do list to get done tomorrow before the wife gets home, and I have to get on it tonight.
First I need to correct a statement I made the other day about the s***storm coming over the payment of another $435 million in bonuses to AIG, in fact to the very boys and girls who brought us the pyramiding scheme of credit default swaps which nearly took down the financial systems. The storm may still come but it is not $435, it is $235 million dollars contractually payable for 2008 performance. $2.4 million is to be paid out this week to some of the big wigs, but there is more to come. Now I am not much for interfering with contractual pay packages, but it seems to me that these folks would be bankrupt without the tax payer riding in on the white horse, and as such were these contracts abrogated these folks would likely be out on the street. Therefore, I believe a strong argument could have been made before as now that we don't owe these folks anything. By the way, if you do not remember We The People own something like 82% of this company having put in $180 billion for them to send overseas to meet credit default obligations. So it they walk, so what. The government appointed Chairman has passed this hot potato to the Pay Czar so that AIG does a CYA. It will be interesting to see his response.
It appears that the most important thing for the press today and for the rest of this week is the coronation of our newest Supreme Court Justice after the serious questioning by Feinstein, Feingold, Schumer and Lindsay Graham. The 5 minutes that I could stomach, and it was all I could stomach, rivaled the resurrection of Michael Jackson last week. But do you know what is really going on here? This is a page out of the Saul Alinsky book "Rules for Radicals". The bills are still flowing and being signed unread in the middle of the night in order to overwhelm the government. This is also part of the Preamble of ACORN, you know the head of the snake of community organizers.
The point is that the media’s saturation of these two events has provided the perfect cover and misdirection to continue the Crap and Tax bribes to Senators, as well as line up and bribe those wavering on National Health Care. However, under these two is something much more concerning. I am worried more about the dollar and global governance.
These are two clear agenda items of the leftist elite and proponents of New World Order. Did you catch our ambassador of Global Warming, Mr. Al himself, out on the trail overseas talking about how Cap and Trade is the first stepping stone to "global governance?"
Global governance is just another means to throw our sovereignty out the window and place it in the hands of some supra national organization. Cap and Trade is a great example. It’s not only a not so hidden tax, but it cannot be implemented effectively without the world agreeing to the terms to limit green house gasses. So if China, India and Brazil have said they will "never" sign such a treaty and have some international organization or body telling them what they can do, then why are we tip toeing through the tulips? Are Americans so ignorant and uninformed that they will simply agree to forego their rights and freedoms through the signing of international treaties, which only need the consent of the Senate? Remember who controls the Senate. Without so much as a vote of the people this is the kind of legislation that is relinquishing American sovereignty. This will come back to haunt America.
In my mind, the impetus for enacting all this will be the down fall of the dollar. Did you catch the Russian Premier holding up a new coin that he was touting as the “new reserve currency?” It was an International Monetary Fund coin with the motto, “Strength in Unity and Diversity," or some such nonsense. At the moment, the dollar’s strength comes from the risk aversion days or flight to safety as the rest of the world thinks we are the hope for coming out of this economic mess. If the dollar falls, and it is on a steep decline given the deficit, we may see some supra national organization rise from the ashes to "save us." When that happens, it will be game over for the dollar.
Remember we are being overwhelmed at the moment with nonsense and ludicrous legislation, celebrity media frenzies. I believe we will continue to see inconsequential news to distract us from the continued move to bury critical political maneuvering and legislation that any sane legislator would have difficulty dreaming up, even if dreaming or hallucinating on drugs. But then again, what’s going on in DC is insanity.
Please folks, email or call your representatives and ask what they are doing for you. Stop Cap and Trade, and Stop National Health Care. It is going to take all of us sane citizens pulling in the same direction.
Your humble editor, Russ
P.S. As much as I hate to say this, I think it is time to put GE back on the “to buy” watch list. I hate this company, but they have their nose so far up the behind of Obama and I have seen staggering numbers about what they are about to gain. Having successfully put employees inside the Obama Nation, they are now in a position to reap what they have sown in Wind, Health Care, Cap and Trade trading, Defense, etc. The likely bankruptcy of GE competitor CIT, which has not gotten a single dime out of the government, was pretty telling as to GE’s political influence. Corrupt to the core, and many times worse than Halliburton, and not a peep from the media. I will see if I can come up with an entry price without throwing up.
About Russ Magarity
Jackson, Wyoming Distressed Patriot Russell Magarity and Chris Janelli, Chief Distressed Patriot, have been business associates and close friends since working together at Chase Manhattan Asia in Hong Kong. Russ grew up in Cuba and Panama and graduated from High School in Peru. He received a BA in International Relations from the University of Oklahoma (Norman), an M.B.A. from the Universidad Autonoma de Guadalajara (Mexico), and a Masters in International Management (with Distinction) from the American Graduate School of International Management (Thunderbird).
Russ spent his career with Chase running countries and managing corporate finance businesses in Brazil, Mexico, Hong Kong and throughout SE Asia. Prior to joining Chase, he served in the US Navy for 9 years first as a Midshipman and Naval Aviator. As a carrier pilot, he served 3 tours in Vietnam and flew over 250 missions.
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