Replies to post #174848 on Tornado Alley (PROG)

[SilverSurfer]

F6 thanks for the worthwhile reply. Enjoyed the videos.
With the information we have it is impossible to say if the teacher, Mr. Chandliss is as you say or truely alarmed at the new attitude he is seeing in his students, which I sincerely thought would encourage tinner, the object of my post. It is understandable, given the tinner or our Prez,,, and the state of our economy, that youngsters would be looking for Gov to confiscate goods from the greedy to benefit the innocent. Why would this revelation cause any concern for progressives? Should be good news that the education system is acting as a catalyst for Gov Love.


"My political ideal is democracy. Let every man be respected as an individual and no man idolized.............................. In my opinion, an autocratic system of coercion soon degenerates; force attracts men of low morality... The really valuable thing in the pageant of human life seems to me not the political state, but the creative, sentient individual, the personality; it alone creates the noble and the sublime, while the herd as such remains dull in thought and dull in feeling.

"This topic brings me to that worst outcrop of herd life, the military system, which I abhor... This plague-spot of civilization ought to be abolished with all possible speed. Heroism on command, senseless violence, and all the loathsome nonsense that goes by the name of patriotism -- how passionately I hate them!
http://www.aip.org/history/einstein/essay.htm

IMHO, the nation should take heart ............


The US "is on the cusp of an energy boom that is already creating hundreds of thousands of jobs, revitalizing entire communities, and reinvigorating American manufacturing," said US Chamber of Commerce President and CEO Thomas Donohue as he laid out the Chamber's priorities for 2012.

In his annual "State of American Business" report, delivered Thursday in the Italianate Hall of Flags in the Chamber's Lafayette Square headquarters, Donohue highlighted energy first as a sector offering vast promise in jobs and revenue to help revitalize the US economy, but only if domestic resources are developed.

Donohue pointed to unconventional oil and gas discoveries, including natural gas in Pennsylvania, Ohio, New York and West Virginia, and oil in North Dakota, as examples of the jobs boom these resources can bring "With the right policies, the oil and natural gas industry could create more than 1 million jobs by 2018," Donohue said.
Ample and cheap gas supplies mean petrochemical companies are considering coming back to the US, and may encourage other manufacturing, he said.

Donohue said the US has enough oil to last 200 years, natural gas for 120 years, and coal for 450 years. "We must speed up permitting and end many of the restrictions that have put key areas off-limits" due in some cases to "political expedience," Donohue said.

He said the nation must "harness all our resources, traditional and alternative – while expanding nuclear power and driving greater efficiency." He called efficiency "the most important environmental resource we have."


http://energy.aol.com/2012/01/13/chamber-chief-says-energy-can-lead-economy-revival/

[SilverSurfer]

F6, one area we could agree where a Big Government's influence is sorely needed would be banking, especially after the Govs incapacity to enforce it's own laws has been so disasterous yet...

"Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming "too big to fail," the nation's largest banks are bigger than they were before the credit crisis.

Five banks - JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs Group - held $8.5 trillion in assets at the end of 2011, equal to 56% of the US economy, according to the Federal Reserve.

As weaker firms collapsed or were acquired, a handful of financial giants emerged from the crisis and have thrived. Since then, JPMorgan, Goldman Sachs and Wells Fargo have continued to swell, if less dramatically, thanks to internal growth and acquisitions from European banks shedding assets amid the euro crisis.

The industry's evolution defies the president's January 2010 call to "prevent the further consolidation of our financial system." Embracing new limits on banks' trading operations, Obama said then that taxpayers wouldn't be well "served by a financial system that comprises just a few massive firms."
http://articles.economictimes.indiatimes.com/2012-04-17/news/31355557_1_banking-system-financial-system-largest-banks

more alarming is the >>>>>
9 Biggest Banks’ Derivative Exposure - the still Unregulated Global Casino for Banks.... tall structures are stacks of cash representing a $Trillion....






Goldman Sachs has a derivative exposure of $44.192 Trillion dollars.

btw - Goldman Sachs got $10 billion of the 2008 TARP bailout, and in the same year paid $10.9 billion in employee compensation and “benefits”, while paying a tax rate of 1%. That means an average of $327,000 to each Goldman Sach’s employee.





Bank of America



Bank of America has a derivative exposure of $50.135 Trillion dollars.

BofA is sticking the tax-payers with a MASSIVE bill, by moving derivatives to
accounts insured by the federal government @ total of $53.7 trillion as of 06/2011.
During 2011-12 BofA has been in need of cash, so Warren Buffett gave BofA $5 billion.
Same year BofA sold its stake in China Construction Bank to raise $1.8 billion in cash.

Bank of America paid $22 million to settle charges of improperly foreclosing on active-duty troops
BofA recruited 3 cyber attack firms to attack WikiLeaks. but the Anonymous hacker group hacked the security firms first.
BofA was sued for $31 billion in home-loan losses in 2011, the bank is involved in many lawsuits, too many to document.
BofA also received a SECRET $1.344 trillion dollar bailout from the Federal Reserve.




Citibank has a derivative exposure of $52.102 Trillion dollars.





JP Morgan Chase has a derivative exposure of $70.151 Trillion dollars.
$70 Trillion is roughly the size of the entire world’s economy.





9 Biggest Banks’ Derivative Exposure – $228.72 Trillion

There is no government in the world that has this kind of money. This is roughly 3 times the entire world economy. The unregulated market presents a massive financial risk. The corruption and immorality of the banks makes the situation worse.

Keep an eye out in the news for “derivative crisis”, as the crisis is inevitable with current falling value of most real assets.



http://www.silverdoctors.com/infographic-9-biggest-banks-derivative-exposure/