Sunday, November 20, 2011

"Morning Papers" - It's Origins

The Rooster

"Early to bed, Early to rise, makes a woman healthy, wealthy and wise."

Good Night, Moon

The Moon for Nov 20, 2011
(At Midnight, US Central time, as viewed from the Northern Hemisphere)

Illuminated Fraction: 23.2%

2.7 days after last quarter
24.8 day old moon

"The Waning Cresent"
07/27/11 06:25 PM ET

ATHENS, Greece — Standard and Poor's (click here) on Wednesday relegated Greek government bonds to the deeper end of junk status, cutting the debt-crippled country's credit rating by two notches to CC and saying a new downgrade is likely....

First Posted: 7/7/11 05:31 PM ET Updated: 9/6/11 06:12 AM ET
...S&P affirmed its A-minus long-term (click here) and underlying ratings on California's general obligation debt, as well as affirmed the A-minus and BBB-plus long-term and underlying ratings on the state's Proposition 1A and appropriation-backed debt....

The chances California is another Greece is absolutely hideous, unless of course, one is trying to superimpose a change in elections in 2012.  But, that is the case, then it is based on a lie, now isn't it?

Deficit committee heads for less-than-super endgame

I liked that title from the Bellingham Herald in the state of Washington.

Trying to restructure Medicare, Medicaid and Social Security is a completely different legislative matter.  Quite frankly these entitlements are not up for grabs.  What needs to occur here is regulation of 'Health Care Costs.' 

These entitlements have been the bedrock of the USA economy for decades.  When all else fails there is a steady economic dynamic existing due to these entitlement programs.  There is a lot more at stake there than what Republicans like to call 'social welfare programs.'  When these programs are tampered with the economy is tampered with.
I believe when the State Exchanges are established there will be greater concentration on health care costs, fraud and waste.  Right now a federal gtovernment can't tackle the problem while the House is tampering with budgets.  The last place that cuts should be made in any federal authority is in the area of compliance and investigation.  If there aren't people to do take the responsiblity seriously and bring abuses under scrutiny and control the citizens suffer.  With the continually escalating costs of the health care industry there needs to be oversight and monitoring.  I have yet to hear sincere dialogue as to the cause of this strange cost increase in short time spans.  Where is the industry justifying its additional costs to pass on to consumers?  Wages?  Not likely.  The USA competes internationally for nurses.  Those wage issues have been consistent for a long time.  So, what's the problem already?  It has the appearence of being really unreasonable and untrustworthy of the industry.

But, that is off topic, except, it was wrong for Republicans to even consider entitlements as a part of a deficit reduction package.

- Congressional leaders are negotiating an endgame for the "super committee" that could come as soon as Monday as Democrats and Republicans blame each other for what appears to be the panel's failure to come up with a $1.5 trillion deficit-reduction plan.
Despite a flurry of last-minute proposals and closed meetings, it appeared increasingly unlikely that members of the bipartisan committee could compromise on the contentious issues of taxes and entitlement spending that have deadlocked the talks....

I don't believe this is irresponsible.  It is just the NEXT impass in a frequent reoccurrances of them sincer 2010 elections.  The GOP won't allow revenue increases that matter.  They just won't.  They expect the citizens of this country to accept any token revenue offer as a monumental move on their part.  NOT.  Raising revenues that include tax increases is only a monumental problem for the GOP, not the majority of Americans.

From where I sit there were heroic strides attempted and rejected.  The reduction will occur as it was legislated.  The nation knows what is going on.  The entitlements could not be cut in a meaningful way that would add up to 1.2 trillion.  It is ridiculous.  There is reassurance for many Americans knowing the legislative cuts will not effect their limited incomes.  Rightfully so.  There are members of the SuperCommittee that should be having no regrets. 
  • As one of the largest industries in 2008, (click here) healthcare provided 14.3 million jobs for wage and salary workers.
  • Ten of the 20 fastest growing occupations are healthcare related.
  • Healthcare will generate 3.2 million new wage and salary jobs between 2008 and 2018, more than any other industry, largely in response to rapid growth in the elderly population.
  • Most workers have jobs that require less than 4 years of college education, but health diagnosing and treating practitioners are highly educated.

The Debt Crisis with Italy, Spain and Greece relates to the Euro and its new beginnings.

It has been an easy conversion for some countries to adapt their old currency and debt to the new currency.  This is unrelated to any debt or deficit in the USA.  The 'mind speak' about these countries in the political sphere has been an 'adult-child' dialogue whereby sovereign authority is suppose to be ashamed of their past behavior. 

I don't think so.  Modifiying the spending NOW is important and bringing their debt and deficit under control as a portion of their GDP cannot be understated, but, there is no shame here.  This is a currency problem and it will work out.   I have no problem with debt holders getting less on the dollar for their VENTURES.  Holders of sovereign debt have to know there are dynamics at work that involved human beings and their relationship with their government.  There is risk.  Oh, well.  Sovereign debt is exactly that.  These debt holders will bearly feel the pinch from the gobbs of money they have already made as the Greek debt is restructured. 

...U.S. stock futures rose early Friday as borrowing costs for Italy and Spain declined, a signal that the European debt crisis might be easing. 

Spain and Italy have had to pay high interest rates because bondholders fear that that they will default. Holders of Greek bonds were all but forced to take steep losses on that nation's debt.

Fears about the European crisis sent stocks lower this week. Even nations with relatively strong finances, such as France, are being forced to pay higher interest rates....

What is occurring in regard to State and Federal Budget topics is politics.

There is no way California's deficit matches the problems Greece has.  There is no way it is going to either.  The politiking that surrounds the flucturations of Wall Street in its anxiety over Greek debt is unrelated to any problems the USA has or any state in the country.

To keep a frenzy about spending money or raising taxes is the only strategy the Republicans have to stir their base and seek to please their cronies.

If every dollar spent in the USA is scrutinized as unnecessary to spend then the people in leadership within that office will appear to be uncaring, distracted from the issue and aloof. 

Anyone can start a hysterical process surrounding any topic and make it seem real, but, whether or not a Greek crisis interprets into a California crisis only is possible if California holds Greek debt.  Otherwise, they are unrelated topics.

The only way the Republicans can get the people of the USA to destroy their own entitlements is to point to other countries saying the USA is going to turn out the same way.

NOT.  That is a lie.  The USA's debt has accumulated for sometime now and not in the past two years.  It was due to unnecessary war, overspending on security offices across the country and pouring concrete to keep buildings sprouting up.  The debt the USA holds is not related to entitlements at all.  It is related to unnecssary spending in huge amounts.

Greece is not at war.  It is not invading Iraq.  It does not carry global capacity for its Navy.  The structural debt of the USA and California for that matter is very different than that of Greece.

Wall Street is spoiled.  It was bailed out, has seen record setting profits, has scaled back operations to facilitate profit.  I don't understand how Wall Street is going to continue to have enormous profits with continued closing of plants and loss of market share, but, hey none of my business.  As far as I am concerned, the more plant closings, the more opportunity for American entrepreneurs to begin new enterprises based in American labor and raw materials.

Whirlpool may make money this year by closing a plant, but, there are Americans in need of jobs that have skills to build major appliances.  That is a ready labor force for investment and marketing.  A new start up manufacturing of those applicances will find an interesting gap in market share that will grow as the enterprise secures its place where giants failed.

California Budget 2011 - 2012 (click title to entry - thank you)

Now, everyone knows a budget is always larger than it will finally be voted on.  So there really isn't any surprises here to realize complaints are beginning already.  It is to be expected in a political environment that has been tainted by hysterical Republicans trying to keep their gains of 2010.

It didn't take long Wednesday for the state's partisan budget battle to reignite.

Fresh off a new Legislative Analyst's Office report that paves the way for mid-year cuts in education and social services, Democrats called for additional taxes and Republicans said lawmakers must rein in spending. The report also pegs the state's deficit at nearly $13 billion through June 2013.
The Assembly's Democratic budget chairman, Bob Blumenfield, said in a statement that the analyst's report "acknowledges that we made great progress last year but validates the need to raise revenues to finish what we started."

"We need solutions that protect education, create jobs and put California on the path to stability," he added. "That can't be achieved through cuts alone or by one party governing alone. New revenues can prevent cuts that shock the conscience, hurt our economy and compromise our morals as a civilized society."

His GOP budget counterpart, Assemblyman Jim Nielsen, R-Gerber, countered by saying taxes are unnecessary....

It seems as though Greece is going to restructure its debt somewhat, get some breathing room and continue on.

It will work.  Greece does not want to disappoint itself anymore than it has by handling national spending so poorly as in the past decade.  Greece seems to be stabilizing its GDP and one the debt is restructured, with careful oversight, the Greek government should be stable.  I don't believe this is going to get out of control again.  Citizens are disappointed and the public 'pact' between citizens and governments should not be so fluid that everyday life becomes destablized.

If the current Greek leadership can instill confidence after this next measure there will be less and less negative political dialogue within the citizens.  I remain optomistic.  I believe Greece seeking stability with so much change in such a short period of time is the best outcome for its people.

...Under the guidance (click title to entry - thank you) of its international bailout lenders, the European Union and the International Monetary Fund, Athens is struggling to rein in its public debt and fiscal deficit to avoid bankruptcy and a possible exit from the euro.

Part of that effort is a plan to cut Greece's privately held debt load in half, which the budget draft said would entail swapping 200 billion euros ($270 billion) in existing bonds with 70 billion euros in new paper and a 30 billion euro payment in cash to creditors who take part.

Excluding the effects of the debt swap, the budget draft predicted the country's fiscal gap would fall to 6.7 percent of gross domestic product next year, from 9 percent in 2011....

This is a really 'cool' chart. It shows GDP and ratio to debt, etc. (click title to entry - thank you)

Click on chart to enlarge and the 'key' is in the upper right corner.

The California Debt Clock shows a ratio of less than 19% to GDP.  (click here)

Starting to get the picture as to why Greece is in trouble?

There was a change in government, a change in currency and life was good, so the Greeks believed.  The government didn't manage its increased GDP well, it indulged and now the government has to rollback its generosity.  It is not an inhumane thing as the benefits Greeks receive can absorb a decrease without putting lives in peril.

...Like any state (click title to entry - thank you) (or person, for that matter), it spent more money than it took in. After the switch to the euro, the traditionally strong Greek public sector saw wages rise to ultimately unsustainable levels. To compound this, the retirement age in the country is low (by Western standards) and benefits are generous.

But that alone is not enough to sink an economy....

The Greeks probably need to negotiate a higher income from its pipeline with Russia to assist with its debt.  I don't know if Russia would be able to seek its way clear to assist Greece with an hike in income from the pipeline that traverses its land, but, Russia has a surplus of natural resources and perhaps they might carry empathy for the opportunity to be a hero.

The real problem is the austerity measures are slowing the Greek economy.  The slowing of the economy has hurt its GDP.  Since the GDP seems to be stabilizing, the Greek government may be able to survive austerity measures, stabilize the decreased spending and set a path of consistent GDP and reduction of national debt.  I am optimistic this will work out.  The people have to realize their government needs more insight to managing the country's GDP, but, I don't see why a population growth as steady as Greece can't predict its future deficit based upon spending before 2000.
Greece, if properly managed will show a surplus in GDP before too much longer.  I don't see why their culture has to change or sacrifices made by up coming generations in need of an educational system.  There is reason to believe Greece will pull themselves out of this mess.  The EU has its reservations, but, Greece had a currency change shortly before the global economic collapse.  These things will happen.

Population of California (click title to entry - thank you)

In July 1980 there were 23.668 million people in California.

In July 2009 there were 39.962 million people in California.

In 2010 the population of California was 37.253 million people with a growth rate since 2000 of 10% while the national growth rate of population was 9.7%.  (click here)

California's population growth is about the average of other states.  Nothing unusual, a steady increase, matching the national average in most age groups except 65 years and old.  The senior age group increase was less than the national average.

Population of Greece (click title to entry - thank you)

In 1960 the population was 8.327 million.

In 1980 it was 9.643 million.

In 2000 it was 10.917 million.

In 2010 it was 11.319 million.

The population growth of Greece has been significantly steady.  There was no surge in population growth to explain the sudden hike in GDP in 2000 to 2008.  In the same respect, the debt Greece has is serving a population that has consistent needs in the fact that growth is not outpacing GDP.  Hm?

The Greek government, by measure of most European countries is a young government. 

Parliamentary republic
1975 - New constitution declares Greece a parliamentary republic with some executive powers vested in a president....

...2004 December - European Commission issues (click here) formal warning after Greece found to have falsified budget deficit data in run-up to joining eurozone.

2005 March - Trade unions launch 24-hour strikes in protest at rising unemployment and high inflation.

2005 April - Parliament ratifies EU constitution....

...2006 March - Public sector workers strike over pay and in protest at government plans to scrap job security laws and intensify privatisation.

2006 September - Greece, Russia and Bulgaria back a long-awaited deal to build an oil pipeline which will carry Russian oil to Europe via Alexandropoulis in Greece.

2007 February - The conservative government survives a no-confidence vote and promises to forge ahead with reforms....

Greece has been going through reforms for longer than just recently.  Needless to say, the vast change in GDP was a trigger to higher spending in the face of reforms. 

California GDP by year in billions of dollar (click title to entry - thank you)

The Growth History of the GDP of California is far different than that of Greece.  It is more stable, more predictable and are two different animals completely.

GDP - Gross Domestic Product of Greece (click title to entry - thank you)

In 1990 it was $94.201 billion.

In 2000 it was $245.558 billion.

In 2008, it had grown to $347.042 at an astounding rate.

In 2010 it fell to $304.862 as quckly as it had risen.

During the decade of the Buish adminstration false confidence existed faux rewards were reaped and the Greek government believed the stock markets heading to Mars was never going to end.

Greek GDP slows its slide but still deep in red (click here)

ATHENS | Tue Nov 15, 2011 6:25am EST
ATHENS (Reuters) - Greece's economy slowed its steep slide in the third quarter but still shrank 5.2 percent from a year earlier as the debt-choked economy continued to plummet in a recession that looks set to head into a fifth year.The drop was mainly the result of huge wage and pension cuts, job losses, and tax hikes imposed under an international bailout aimed at stabilizing Greece's crumbling public finances and saving the country from bankruptcy....

It's Sunday NIght

Greek Tragedy

#Occupy Movement is about human suffering under the oppression of Wall Street.

There is sound reasons for these protests and demonstrations.  The federal government, ie Scott Brown, has gross evidence of elected officials being bought through the actions of a corrupt Supreme Court, ie Citizens United.
We know for a fact there is an entire generation of Americans unemployed.  It is a national emergency and the federal government is blocked from returning fluidity to achievement according to the "American Dream" standard this economy was built on. 

Government is suppose to be benevolent to the citizens.  It is suppose to exhibit moral content.  Congress is completely blunted due to political BLOCKS of elected activists.

Every demonstrator, every protester and every activist is standing on solid moral ground for their assertions under the First Amendment.

Besides the generational oppression, there is ever increasing poverty and homelessness.  This is not the USA, this is occupation of our government by those facilitated by government appointees intended to corrupt the judiciary and obstruct the effectiveness of our legislatures.

There is gross evidence for the PURPOSE of #Occupy.

Police are substituting pepper spray for bullets.

Do the words "Danger Contained" mean anything to the authorities anymore?  This is police brutality.  They lack the ability to discern whom was in danger here.  I tqke it these police don't know what it is to serve and protect.  Failure of training or simply idiocy of power at work?  Probably both. 

If I were there and pinned down by police brutalizing me, I would have called 911 asking for an ambulance to transport me to the hospital.  Seriously.  There would be no doubt in my mind.  I did not come to a protest or demonstration willing to accept abuse for the First Amendment assembly right.  If the police prohibited me from securing health services there would be more charges of abuse and if I suffered because of their actions further damaging me upto that point, I would file charges against them if I were still physically able.  This is assault.  There were intentions of harm.  This was not police protecting themselves.  This is an aggressive action.  At no point in time were the police in any way in danger of bodily injury to require tactics of self-defense.

(Just for the record, calling 911 for an ambulance is not a stunt.  I would fully expect to be recovered from searing pin and blindness.  I would expect it all to be entered into my completely private medical record asking the emergency room physician to obtain the identifying lot numbers of the substances I was exposed to.  Emergency rooms can't refuse people suffering and worried about their well being.  The active ingredient of pepper spray is used in salves to assist in solving the pain of arthritis.  It is not a minor agent.  It is intended to alter the activity of nervous tissue.  Self treatment would compromise the liability of authorities and manufacturers)

This is a grossly inappropriate use of pepper spray and police should be prohibited from using it. They should be prohibited from aggressive tactics involving a weapon of any kind when protesters are unarmed while doing nothing but asserting their rights under the First Amendment of the USA. The police should have been there to protect the protesters from any retribution from other sources.

No different than stun guns, pepper spray is being found linked to altering human body chemistry and death.  This is gross malpractice of the authority of police and those unleashing this attack on innocent citizens need to be removed from their position of authority.  There is no discussion on this at all.  There is a lethal component to any weapon and there is to pepper spray as well. 

Stun guns are being found to bring about seizures after its application to the human body.

There are active ingredients which cause the pain and BLINDNESS.  There are also components to these sprays that act as propellants, there are processing agents in producing both the propellants and the pepper extract as well as manufacturing processes that expose 'container' contents to toxins.

Pepper spray and stun guns need to be regarded as dangerous as any other weapon and used ONLY in defense of the person administering the substance.  If there is no requirement for self defense then there is no requirement for the use of any of these weapons.

The only legal designation of stun guns and pepper spray that allows them to be purchased over the counter is that they are considered 'sub-lethal.'  That is a matter in dispute.

The abuse of the protesters by the police in this instance exposed them to enough pepper spray to stop a herd of gizzly bears, yet alone human beings demonstrating and NON-aggressive.  This is abuse, these are potentially lethal and injurious levels of exposure.  There is no tolerance for abuse.  None.  This is overt aggression against peaceful people.  The police participated as well as those that ordered it.

Any and all federal monies for this purpose should be removed and training is appropriate police action substituted with that funding.  There is appropriate reasons to deploy police when people are in danger.  No one was in danger except the protesters themselves and the actions of the police are grossly misdirected.  Demonstrations happen in order to bring attention to problems citizens face.  The best way to avoid the so called preceived problems of 'assembly' in this case is to avoid the IMPETUS and not the demonstration.