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04.23 To stop global catastrophe, we must believe in humans again

04.23 Melting permafrost in Arctic will have $70tn climate impact – study

04.23 US threatens to veto UN resolution on rape as weapon of war, officials say [“Stupid is as stupid does.” –Forrest Gump]

04.21 Trump and impeachment: where Democrats stand after Mueller

04.21 Dutch engineers build world's biggest sun-seeking solar farm [A replacement for lost Arctic ice?]

04.21 We’re altering the climate so severely that we’ll soon face apocalyptic consequences. Here are 9 last-ditch ways we could hack the planet to reverse that trend.[Hail Mary pass ideas]

04.18 'We Can Be Whatever We Have the Courage to See': New Video From AOC Envisions a #GreenNewDeal Future [7:35 video]

04.18 'Decades of denial': major report finds New Zealand's environment is in serious trouble

04.17 Thawing Permafrost Emitting Higher Levels of Potent Greenhouse Gas Than Previously Thought: Study

04.16 'That Backfired': Watch Bernie Sanders Counter Right-Wing Talking Point, Make Case for Medicare for All on Fox News

04.16 Cause of cancer is written into DNA of tumours, scientists find, creating a 'black box' for origin of disease

04.16 Scientists Unveil World's First Human Heart 3D-Printed From Patients' Own Cells

04.15 What It Was Like to Have a Baby in Sweden

04.14 'Shut the country down': British climate group Extinction Rebellion heads to US

04.13 With Youth Climate Actions Backed by Leading Experts, Latest Round of Protests Highlights Call for Bold and Urgent Action

04.11 Will You Rise Up for Climate Justice Next Week? Don’t Let Fatalism and Cynicism Hold You Back

04.11 300+ Groups to Congress: #GreenNewDeal 'Must Transform Our Food System and Revitalize Rural America'

04.10 Glaciers and arctic ice are vanishing. Time to get radical before it's too late [Willfully ignorant "conservatives" and corporately-bribed liberals diddle self-obsessively while life on earth dies]

04.10 Is there a beautiful, briny solution to the world’s clean water crisis?

04.08 'The perfect storm': hydrogen gains ground on LNG as alternative fuel [Good!]

04.08 Himalayan glaciers on the eve of destruction

04.08 Russia moves to free nearly 100 captive whales after outcry [Good!]

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04.12 DOJ Charging Docs: Julian Assange Committed Journalism

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US Politics, Policy & 'Culture'

04.23 'A Really Exciting Proposal': Elizabeth Warren's Education Overhaul Would Wipe Out Student Debt, Provide Free Public College

04.23 To Reassert Congressional War Authority, Sanders Demands Vote to Override Trump Veto on Yemen

04.23 BALTIMORE POLICE TRIED TO KILL KEITH DAVIS JR. PROSECUTORS HAVE BEEN TRYING TO CONVICT HIM OF MURDER EVER SINCE.

04.21 Trump's moral squalor, not impeachment, will remove him from power

04.21 Pentagon Spending Set to Hit Near-Record Levels, But 'Establishment Says We Can't Afford' Progressive Policies

04.19 14 Must-Read Moments From the Mueller Report

04.19 No One Listens to the President

04.19 'Whimsical, uninformed': French ambassador's parting verdict on Trump

04.19 Mueller report: press secretary Sarah Sanders admitted to lying to reporters

04.19 Videos appear to show armed militia detaining migrants at US-Mexico border

04.19 Mueller report unable to clear Trump of obstruction of justice [PDF]

04.19 Nadler says Mueller report shows 'disturbing evidence' of obstruction of justice – video [2:41 video]

Justice Matters

04.21 In Ruling on Coal Mining, Federal Judge Issues Latest Rebuke of Trump's Attack on Public Lands

04.19 The Mueller Report Is Clear: Donald Trump Repeatedly Tried to Obstruct Justice

High Crimes

04.17 'Shameful': With Millions on Brink of Famine in Yemen, Trump Vetoes Resolution to End US Complicity

Economics & Corrupt Capitalism

04.23 The “disintegration” of global capitalism could unleash world war 3, warns top EU economist

04.23 The financial sector must be at the heart of tackling climate change [A reversal of their history of bad behavior]

04.21 Progressive Capitalism Is Not an Oxymoron [For the good of the public and healthier economic growth, can we make government and financial markets behave morally?]

04.19 The Pentagon’s Bottomless Money Pit [pdf; Until the Pentagon can pass audits, use their allocated budget to fight causes of global warming]

04.19 The Public Banking Revolution Is Upon Us

International & Futurism

04.23 To stop global catastrophe, we must believe in humans again

04.21 Frustration grows among migrants in Mexico as support fades

04.21 Decrying 'Toxic Alliance' of Macron and Polluters, Climate Campaigners Stage One of France's Largest Ever Acts of Civil Disobedience

04.21 Yellow Vests Demonstrate in Paris as Notre Dame Donations Highlight Wealth Inequality

04.21 The Observer view on the Mueller report: Trump is a disgrace not welcome in Britain

04.21 The Government Is Still Massively Complacent About Climate Change

04.19 Ways to Save the World

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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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