Guest Voice: Dear Charlotte – You Are Bankrupt

Dear Charlotte – You Are Bankrupt

By J.J. Jackson

Dear Charlotte,

Even though you are far too young yet to understand this letter, and you are rightfully more interested in seeing how much noise you can make by throwing all of our pots and pans on the floor, I wanted to let you know that I am sorry. I am sorry at what has happened to you. For you see, you are bankrupt.

I know that this will come as a shock to you once you are old enough to read these words considering that you have never held a job, earned a wage or incurred a single debt to your name. But it is true and I am sorry that I was not able to stop this from happening. Believe me, your mother and I tried and tried hard to not have you placed in such a situation. We have worked hard, paid our bills and lived within our means.

It is not because of us, your parents, that you are bankrupt however. Ask your mother when you are older about how every week I toiled at the computer and wrote numerous articles and blog postings about the misbegotten economic ideas of our nation. These are the ideas and practices which are the real reason why, before you can even think about needing to earn a wage to support yourself, you will be tens of thousands, if not hundreds of thousands, of dollars in debt to the federal government.

I am sad for you. I am sad for you because these are not burdens that someone who is not yet even two years old should be saddled with. It is not right that the people of this once great nation have stripped you of so much at such a young age and sold you, without permission or without you having committed any crime, into slavery and bound you to serve them and their greed.

A lot of citizens have mortgaged your future for their own present comfort and security. Knowing how it feels to have my own future mortgaged by these same greedy, and dare I say unrighteous, souls I understand that it will only get worse for you as you grow up. Your mother and I already have a heavy weight on our own shoulders in which thousands of our hard earned dollars are taken by the government at the behest of the greedy who did not care enough about their own future to save for their own retirement and believe they are entitled to such at our expense. We are burdened with the heavy cost of other greedy folks who believe that we should pay for their health care because of the virtue of our success while they have not cared one bit to better their own lots in life and acquire that which they desire. And then there are the myriad of other thieves that have compiled agencies of government to demand from us to pay the other debts that they could not pay themselves.

My dear Charlotte, I know it will only get worse for you because it has only gotten worse for us. Already in the past year the government has issued hundreds of billions of dollars in debt certificates, paper money with no substantive backing simply printed on a whim, to line the pockets of people that have made more bad choices in ten minutes than you will make in your lifetime and who believe that they are “too big to fail.” The government calls these debt certificates “money,” but they are nothing more than I.O.U.s which are being financed by foreign governments that will demand the interest we are promising them in return for taking on this debt. Yes, you, my dear, will be tasked to repay these “loans” and all the other spiraling costs of a government run amok beyond sound limits.

For now you will not have to worry much about this looming crisis. There is so much that is of greater importance to you at this moment and for the next few years. You will thrill in chasing the dogs around the living room as they try to escape your all encompassing love and simple desire for just a hug and a sloppy doggie kiss from them. You will be learning your ABC’s and your 123’s and discovering new words. You will be busy trying to mimic new actions you see your mother and I doing and continue trying to sweep the floor, dust the table and clumsily sop up spills with paper towels. You will soon be learning how to ride a bike and to roller-skate. You will undoubtedly revel in enjoying the thrills of the first snow each year and then the first blossoms of spring that will follow. You will eagerly anticipate Christmas morning for many years and what Saint Nicolas has brought for you as a reward for being a good little girl.

I do not write this letter to you in order to strip you of the childish joy you will be filled with over the coming years. I do not expect you to even understand the severity of the situation in which you have been placed even when you are able to read these words, probably asking how to pronounce certain new and unfamiliar ones that you will come across in doing so. I do however write this letter to you hoping that someday, when you are older and wiser and buried by the avalanche of public debt that is bearing down on you, you will find it in your heart to forgive me for not being able to stop the pending disaster which will doom you to a life of servitude to the slothful and the greedy. I hope that you will forgive me for not being able to stop the bad policies of our government that will invariably force you to have to work even harder to support not only yourself but also support all those that the bureaucracy has decided that you must, in addition to yourself, while pursuing the American Dream.

I know that you will be able to succeed in bettering yourself and taking care of yourself but I am sad and disappointed in myself that I have not been able to make it easier on you to live free and experience a greater sense of liberty than the generation before you. I hope and pray that you will not hold it against us, your parents. And I want you to know that I will continue to do everything in my power so that I will, hopefully, one day be able to tear up this letter and never have you read it.

Love eternally,

Your Father

Finally – An African-American that gets it!

A very excellent article by Erik Rush on the problems on Wall Street and our Economy.

Highly Recommended! 😀

Money Quote:

Remember affirmative action? It was that lovely social program that (again, ostensibly) promoted access to education and employment to minority groups, usually ethnic minorities, women and those considered socioeconomically disadvantaged. In practice, education and job opportunities wound up being made available to many who were either indolent or unqualified, as opposed to disenfranchised, resulting in inequity, a lowering of standards and bitterness on the part of qualified, industrious Americans who were passed over for these opportunities.

Man, he is ever right. God is he ever.

The Big Three's Hidden Agenda??

I normally would not link to this guy’s Blog. But because my Dad is a Retired G.M. Worker and a UAW man. I’m linking to it.

I think everyone who is worried about thier jobs and what’s happening with the big three need to read this Blog posting.

Click here

I have never been so angry at my Government and at Washington D.C. as I am, right now. Go read the posting and you’ll see why. 😡

A Picture of our Economy

A Picture of our Economy
A Picture of our Economy

(H/T to ParaPundit)

New York Times has the story:

But the inventory glut in Long Beach is not limited to imported cars. There has also been a sharp drop in demand for the port’s single largest export: recycled cardboard and paper products.

This material typically goes to China, where it is used to make boxes for new electronics and other products that are sent back to the United States. But Chinese factories reacting to sharply falling demand are slowing production, so they need less cardboard. Tons of paper are piling up recycling businesses around the port, the detritus of economies on hold.

Long Beach is an important port, particularly for the West. It is where imported products arrive and filter through the tributary of trucks, trains and retailers into the hands of consumers. But now, products are just sitting.

“We’re supposed to move things, not store them,” Mr. Wong said.

Roughly 20 percent of the nation’s container imports last year came through Long Beach, putting it close behind the largest container port, Los Angeles. This year, shipping volume at Long Beach is down 10 percent from 2007, and nearly all major ports around the country have seen similar declines. Veteran port workers say the slowdown since mid-October is like nothing they have ever seen. And it is having a cascading impact on other businesses and workers. – Read the rest

Go read the rest of the story. But it’s not only cars, it’s everything. I think Obama might just come; too little, too late. 🙁

Important Announcement From the Blogs 4 Borders Crew!

Jake Delivers a sobering announcement about the Blogs 4 Borders BlogBurst. 🙁

….and here I am unemployed and cannot help. 😥

If you want to help Jake get his show on the road, click here to send him a message. Or go to his YouTube site and leave him a message there.

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Dow Plunges, Global Markets suffer as well…

I haven’t posted today, because I have been watching the market and doing a little paper trading (fake money…not real)

Here’s the official story via the AP:

Wall Street tumbled Monday, joining a selloff around the world, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The credit market remained under strain, and investors piled into government bonds. The Dow Jones industrials skidded more than 300 points and fell below 10,000 for the first time in four years.

The markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.

Here is the Dow Chart:

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The line to the left of the vertical slash, is the market today. Oh yeah, it’s that ugly…

On the other hand, Gold is looking very promising:

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(charts from thinkorswim.com)

My advice to everyone, if you nervous, sell what you’ve got and invest in Gold.

More gold Charts:

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So much for that “Bailout” eh?

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Mid-Day Stock Graphs and Quotes

As of 11:39  EST

Click the pictures to make ‘em bigger.

DOW:

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NASDAQ Composite:

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S&P 100 Index:

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S & P 500 Index:

image

Numbers:

Dow

10,674.40
+191.55
(1.83%)

Nasdaq

2,032.35
+55.63
(2.81%)

S&P 500

1,142.00
+27.72
(2.49%)

10y bond

3.72%
+0.09
(2.48%)

USD-Euro

0.7242
+0.0003
(0.04%)

USD-Yen

105.8200
+0.7200
(0.69%)

USD-GBP

0.5634
-0.0035
(-0.62%) 

Gold:

Silver:

Platinum

News:

Citigroup Demands Wachovia, Wells Fargo Terminate Merger Deal (Via Bloomberg)

Apple Rebounds After Saying Reports of Jobs Heart Attack False (via Bloomberg)

Europe Scents New Hint Of A Rate Cut (Forbes)

Schwarzenegger Tells Paulson States May Need Loans (Update1) (Bloomberg)

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A very interesting video on our Nation’s banking system

This video, made by the Ludwig Von Mises Institute, makes the case of why the United States of America should go to a 100% gold standard.

I highly recommend that everyone watch this video.

Also, I recommend everyone go to my bookstore and check out the section on the gold standard.

Trackposted to Blog @ MoreWhat.com, Rosemary’s Thoughts, A Blog For All, Right Truth, DragonLady’s World, Shadowscope, Leaning Straight Up, Cao’s Blog, Democrat=Socialist, Conservative Cat, Diary of the Mad Pigeon, , Allie is Wired, Faultline USA, third world county, Woman Honor Thyself, The World According to Carl, Walls of the City, Pirate’s Cove, The Pink Flamingo, Gulf Coast Hurricane Tracker, Wingless, Dumb Ox Daily News, and Right Voices, thanks to Linkfest Haven Deluxe.

 Linkfest Haven, the Blogger's Oasis

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Now here’s a smart idea….

Now the Democrats are using their brains.

U.S. Democrats seek Wall Street tax in bailout plan (Via Reuters):

Democrats in the U.S. House of Representatives are pushing for a new Wall Street tax that would cover the potential costs of a $700 billion bailout being negotiated by Congress and the Bush administration.

U.S. House Speaker Nancy Pelosi, speaking to reporters after a meeting with fellow Democrats, said the fee could be assessed after five years if the non-partisan Congressional Budget Office determined taxpayers had lost money in the bailout.

“If after five years … the CBO decides that the American taxpayer has lost money in this, then there would be a fee on financial institutions,” Pelosi said, adding that she hoped the provision could be part of a final bailout deal.

Pelosi said that the Secretary of the Treasury could determine how to assess the fee.

It is a about damn time the Democrats wised up. This would ensure that the taxpayer, (i.e. you and me) would not get stuck paying the bill on this “bail out”.

I know some traders will scream about this. But, you know what I say? screw ‘em! I say, let the assholes making the big money get the tax, instead of the working class, like me, who do not even play the markets.

I am all for free markets, but I’m also for responsibility. If greed caused all this, let the damn greedy ones pay for it in taxes, instead of the average American, like me!

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My thoughts on the AIG bailout…

First Fannie May and Freddie Mack and now AIG.

It just seems to me that more and more everyday. The United States of America is starting to resemble the old Soviet Union, with everything being nationalized.

I just wonder how long will it be, before the oil refineries will be nationalized.  

We fought long and hard in Germany and in Japan to defeat communism. Now it seems to be taking our Country over from within.

I would write, God help this Nation. But at this point, that seems a bit moot. Seeing this Nation with it’s liberal Government wanting to eradicate everything and anything even remotely Christian. I am left with nothing to say except to offer the thought that God has forsaken this Nation long ago and has left it to be consumed from within.

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