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Health Care & Environment

11.15  The long read:  The plastic backlash: what's behind our sudden rage – and will it make a difference? [the world wants to throw-up...]

11.15 Claws out: crab fishermen sue 30 oil firms over climate change [workers are waking-up...]

11.15 Trump administration to cut air pollution from heavy-duty trucks [behaving ignorantly again...]

11.14 Backed by Ocasio-Cortez, Youth Climate Activists Arrested in Pelosi's Office Demanding Democrats Embrace 'Green New Deal'

11.13 What would a smog-free city look like?

11.13 Global report highlights Australia’s renewables potential amid mixed signals for coal

11.13 Interior department whistleblower: Ryan Zinke hollowed out the agency

11.12  This Land is Your Land:  The Zinke effect: how the US interior department became a tool of industry [behaving ignorantly again...]

11.12 Planned Parenthood's new president warns of 'state of emergency' for women's health

11.11 Trump responds to worst fires in California’s history by threatening to withhold federal aid [behaving ignorantly again...]

11.11 Interior department sued for ‘secretive process’ in at-risk species assessment [behaving ignorantly again...]

11.11 Keystone XL pipeline: judge rules government 'jumped the gun' and orders halt [behaving ignorantly again...]

11.09 Rainforest destruction from gold mining hits all-time high in Peru

11.09 A new way to make steel could cut 5% of CO2 emissions at a stroke

11.08 Medicaid’s stunning victory

News Media Matters

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

11.15 Democrats Won Big. Can They Go Bold, Too? [it's about suppressing the influence and leadership by Republican-like Democrats who counsel 'íncremental' (no) change, such as Nancy Pelosi, Steny Hoyer, Hillary Clinton, Chuck Shumer and Joe Biden]

11.15 Pentagon Officials Forced to Make Fewer Public Appearances to Avoid Provoking Trump [...by revealing Trump's huuuge ignorance]

11.15 REPUBLICANS USED A BILL ABOUT WOLVES TO AVOID A VOTE ON YEMEN WAR [if there are 'defense industry' profits to be made—including congress-critter insider-trading—and political 'donations' to be had, we mustn't stop killing innocent civilians!]

11.15 Big Oil v the planet is the fight of our lives. Democrats must choose a side

11.14 The Real Florida Recount Fraud

11.14 Telling NRA #ThisIsOurLane, Doctors' Photos Show Blood-Soaked Reality of America's Gun Madness

11.14 At Freshman Orientation, Young and Growing Progressive Caucus Makes Clear It Will 'Fight Like Hell' for Bold Democratic Agenda

11.13 'You Sound Nervous': Gillum Mocks Trump as President Demands End to Florida Recount

11.13 Kyrsten Sinema wins Arizona Senate race in breakthrough for Democrats

Justice Matters

11.09 Trump administration blocks asylum claims by those crossing border illegally [Making America Less Great Again...]

High Crimes?

11.14 The Guardian view on Yemen’s misery: the west is complicit [WAR CRIMES]

11.10 US stops refuelling of Saudi-led coalition aircraft in Yemen war [But there are a few children still alive. It's too soon!]

Economics, Crony Capitalism

11.15 The Earth is in a death spiral. It will take radical action to save us [fossil fuel burning, un-recyclable plastic production/use and methane gas release must cease ASAP.]

11.14 Brexit: May tells her cabinet, this is the deal – now back me

11.11 Tax reform: down with the ‘stepped-up basis’

International & Futurism

11.15 Cuba to pull doctors out of Brazil after President-elect Bolsonaro comments [terms must be negotiated for fairness to Cuba's health professionals without disruption of healthcare for Brazil's poor]

11.14 'Appalling' Khashoggi audio shocked Saudi intelligence – Erdogan [Exposing a psychopath?]

11.14 Israel and Hamas launch hundreds of attacks in Gaza clash

11.14 Mueller seeking more details on Nigel Farage, key Russia inquiry target says

11.13 Austin's Fix for Homelessness: Tiny Houses, and Lots of Neighbors

11.13 Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.

11.13 Caravan marks one month on the road: ‘We keep on going, laughing or crying’

11.13 Letter Shows Einstein’s Prescient Concerns About ‘Dark Times’ in Germany

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  Print view: Thinking About Responsibility
A GENERATION OF MALFEASANCE BY GOVERNMENTS:

Thinking About Responsibility

by Fred Cederholm
National Debt is hovering at $14 TRILLION. $5 TRILLION of that is owed Social Security to repay its borrowed & spent surpluses, and Medicare and Medicaid are disasterously underfunded.

I’ve been thinking about responsibility. Actually I’ve been thinking about the midterm elections on Tuesday, November 2nd, the swinging pendulum, the Democrats, the Republicans, the economy, the debts/ deficits, US treasuries, the US dollar, and foreclosures. All elections are important, but there is an urgency about the one being held on Tuesday. We should brace ourselves for a quantum change in elected officials. The party in power traditionally loses ground during a midterm election. In my lifetime I have never seen the negatives toward the serving “public servants” holding office. I have also never seen such a barrage of negative campaigning. Ok, we have had mudslinging before, but I feel this go around sets the standard downward even farther than what we normally experience.

You see voter dissatisfaction is ripe right now. There is a good reason for this. Governmental profligacy at the national and state level (and even in many county and local governments) has been out of control for a generation, or more! The debts/deficits continue to break records by the hour. It took US/us from 1789 until the early 1980s to acquire our first TRILLION of national debt. Now we can add a TRILLION in NINE months, maybe less. Our national and state governments never met a dollar they couldn’t spend. Presently 41 cents out of every dollar spent is financed and goes directly to the debt. A generation (as in twenty plus years) of hundreds of BILLIONs of Social Security surpluses is over! National Debt is hovering at its present $14 TRILLION cap until after the election when Congress will again vote/ approve another (HIGHER) ceiling. Five TRILLION is owed Social Security!

National Debt in actual dollars, uncorrected for inflation
US national debt

We need restraint in Washington DC, and our state capitols. Programs will have to be cut bigtime. We cannot keep up our world bellicose “Civis Americanis Sum!!!” big stick foreign policy of adding yet another war against the so-called terrorists of the world. If the casualty numbers can be believed, it is costing us roughly $10 MILLION to kill off each of these so-called “bad guys.” We just can’t afford THAT any more (and besides, we should be able to buy them off cheaper than that)! Conflicts in Afghanistan literally broke Alexander the Great, the British, and the Russians and they accomplished zero there. We are doing no better! These “policing actions” in the Middle East and Central Asia are accomplishing nothing. The public is fed up. The only plus is the economy does not appear as bad with the war(s) given how much Uncle is spending.

The Democrats are poised to take a beating on Tuesday --- losing the majority in the House of Representatives, and even possibly in the US Senate. The Republicans are set to clean up --- “clean up” in the sense that they should win more seats than the Democrats even though their alleged “clean up” of our economic and financial messes is highly shy of any details on how they plan to accomplish this (?). There is plenty of blame to go around. Our deficits and debt ballooned under Reagan, Papa Bush, “W”, and Obama. The so-called Clinton “surpluses” resulted from a gridlock between the White House and Congress. They couldn’t agree on anything INCLUDING spending money! The Democrats had a great opportunity these past two years and blew it. Their attempt at national health care is a bad joke. Unemployment really stands at 22%. Ninety-nine weeks of unemployment compensation is set to expire for MILLIONS of Americans. Five hundred plus banks are at insolvency even with the warehousing of $800 BILLION of their Cleverly Rigged Accounting Ploy investments at the FED at face value for “the duration.” This slight of hand swap is no solution. Nothing we have seen out of DC is a solution!

Uncle $ugar is “borrowing” upwards of $4 BILLION every day to pay his bills. Effectively the Federal Reserve is printing money to buy new Treasury debt because the foreign $ugar daddies are not anteing up like they have been. This US right hand buying the US debt from the left hand will only blow up on the US dollar in the near future. We are laying foundations for a massive inflation/ default.

As deregulation ran amuck in the past twenty years, nothing was done to change the foreclosure “system,” so the churning and “securitization” of mortgages has blown up now, too. Systemic fraud and forging of signatures on documentation is ripe, and judges are throwing the foreclosure actions out of court. It now takes two to two-and-a-half years to get a non-paying mortgagee out of a defunct real estate deal. This problem is breeding on itself as more households get their backs to the wall. Families who are “upside down” (owing more than their places are worth) are stopping payments even if they can afford them. They are living effectively there “free” for a couple of years. The declining cash flow is killing the investors in the insurance industry, pension/ retirement plans, mutual funds, and banks.

We need to take responsibility for our messes and hold the elected officials to their promise(s) of real and much needed reform. Buying our own debt instruments in fictitious transactions with our own freshly printed green backs, not CLOSING badly the run financial institutions, not prosecuting financial crime offenders, and saddling coming generations of Americans with a legacy of debt just won’t cut it any more. Please vote!!!

I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.


Copyright 2010 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.



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This story was published on November 1, 2010.

 

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