Lofty Matters

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The problem has been laying in wait for us for years. How have most Americans been living beyond their means? Our current economic crisis has been building for decades. America?s median hourly wage is only slightly higher than it was 35 years ago, and this is adjusted for inflation. The income of a man in his 30s is currently 12 percent below what a man of comparable age’s was three decades ago. Most of the money earned in America since then has gone to the richest 5 percent.

So…what have Americans been doing to live beyond their paychecks?

• I hesitate to say this, but the first thing they did was send more women into the paid workforce. Women streamed into the work force in the 1970s partlya because of new professional opportunities but also because they had to supplement their family income to support their spending habits. The percentage of American working mothers with school-age children has basically doubled since 1970. It’s currently more than 70 percent.
• The second thing they did was to start working more hours. The average American now works more every year than they did thirty years ago. Americans have become workaholics. We put in 350 more hours a year than the average European. This was surprising! We work even more than the notoriously industrious Japanese.
• There IS a limit to how much we can work, so the third thing we’ve done is borrow. With housing prices rising sharply through the 1990s and then even faster between 2002 to 2006, they turned their homes into huge piggy banks. They refinanced their mortgages and were taking out home-equity loans hand over fist. This third strategy did have a built-in limit, however. The housing bubble has burst and those big piggy banks are almost empty.

America is reaping the results of the widening inequality between the income classes. The only way to preserve the economy for the long term is to increase the wages of the bottom two-thirds of Americans. Inequality can be reversed by focusing on improving the schools for children in lower- and moderate-income communities. This will require, at the minimum, good preschools. There needs to be fewer students per classroom and better wages for teachers in these schools.

America is becoming shattered by an inequality of income classes and we need to repair it by reuniting these classes.

There?s a new type of mosquito that has invaded Britain which not everyone wants to buzz off. In fact, most people would welcome it. Are you ready for this? It’s called the Anti-Yob Mosquito. It’s a device that emits a piercing sound that sends rowdy, intimidating thugs packing.The device needs to be switched on if groups of thug-like people are seen drinking and becoming abusive outside stores or homes. It targets only the minority of youths involved in anti-social behavior because the irritating but harmless sound is emitted at a frequency that is only audible to those under 25 years of age. It operates at just 85 decibels, which is actually lower than the traffic on most streets. Compare it to an alarm clock. It’s said to be harmless to animals.

Similar to problems existing in Malaysia, the “loafing” culture is a social problem in Britain. Many citizens are expressing concern over youngsters and even schoolchildren hanging around shops, houses and shopping centers.

Even security cameras and other surveillance equipment have not deterred the gangs from throwing insults and intimidating the public. This especially is concerning to the elderly. The police lack manpower to patrol the streets and the courts are lenient with gang behavior. Therefore it?s not surprising that over 3,500 of these devices have been bought by stores across the country. The device is provoking debate between human rights groups and the business community over whether it?s ethical to fight crime this way, however.

The Children?s Commission for England claimed it was ?demonizing? young people. Civil liberty campaigners said the use of this device is breaching laws safeguarding the right of free assembly.

Recent reports by the United Nations revealed that Britain was one of the worst countries in the developed world to raise children. Britain also has the highest rate of family breakdowns in Europe. Statistics like these make it easy to see why the country is having problems with anti-social behavior among a minority of youngsters.

Sounds like there is finally a good kind of mosquito!

A bill has been introduced into the House of Representatives that would ban companies from giving out loans for which the borrower obviously has no reasonable chance of repaying. It also would allow such borrowers to sue the lender(s) for better deals.

Representative Barney Frank (chair of the House Financial Services Committee) introduced the bill to fight the increasingly common practice among lenders of loaning at rates that begin low but increase sharply after an short period. Over two million people are estimated to have loans like this. At least a quarter are expected to default on them and lose their homes.

The bill would require all mortgage lenders to conduct reviews of a borrower’s income, credit history and current debt level to determine what kind of loan that person has a reasonable ability to repay. It would prohibit loaning to any party that does not meet this standard.

Loans considered unreasonable would include those that have monthly payments equal or exceeding half the borrower’s income. The bill would also prohibit offering incentives to brokers who encourage borrowers to take on more expensive loans. Certain practices designed to lock borrowers into loans would also be prohibited.

If the bill becomes law borrowers would have the ability to sue mortgage lenders for issuing unreasonable loans. If they are able to prove that the lender either did not conduct the proper review or that upon review the lender issued an unreasonable loan anyway, the borrower would be able to force the lender to renegotiate a more fair loan.

Even those victorious in lawsuits against lenders would still be required to repay their mortgages.

It would be interesting to visit Egypt on a sightseeing tour. There are so many things to see that I imagine it might be hard to see everything. First on my list would definitely be the Great Pyramid of Giza. Recognized as the last surviving member of the Seven Wonders of the World, this would be a must-see for me if I were in Egypt. There are actually three main pyramids included in Giza, and each Pyramid is a tomb to a different King of Egypt. In front of the pyramids lies the Sphinx - that icon of ancient Egypt.

If you decide you have to visit Egypt now, then great deals and information for flights to Egypt can be found at Dialaflight.

There are more than 500,000 cancer deaths in the United States each year. Therefore, the underlying buzz all around the just concluded San Diego meeting of the American Association for Cancer Research was, “Where is the federal government?”

AACR is comprised of 27,000 scientists dedicated to the conquest of cancer. The physicians and researchers are making discoveries shattering the old death sentence of cancer. The death rate has declined 2 percent a year since 2002. Still, 1,500 Americans a day die from cancer.

Despite fear of the torturous physical slide of cancer (people’s No. 1 health fear) federal funds for research into early diagnosis, treatment and cures are falling. The National Institutes of Health has lost 2 percent of its budget to inflation in real dollars every year for the last seven years.

Apparently, the deficit and the war are to blame. Is funding potential disease cures a part of the price of Iraq? If so, it is no wonder that 70 percent of Americans oppose the war and want its cost to end in the scheme of priorities.

NCI now funds fewer than 10 percent of requested research projects, down from 25 percent a decade ago. President Clinton doubled NIH’s budget during his presidency. This explaines many of the amazing recent breakthroughs then. Now, however, with the budget dropping, private organizations are desperately trying to pick up the pieces so that innovative science can continue.

The private sector is a pale substitute for the power of the federal government. For breast cancer alone, $600 million annually comes from NCI, and the Department of Defense has provided $2.2 billion total since 1992.

Another aspect of the funding shortage is that we may be losing an entire generation of scientists who opt to pursue other things. With no money for their research, scientists have little choice but to select fields that can pay.

One in two men and one in three women will develop some form of cancer during their lives, according to the Centers for Disease Control. It is sad that private volunteer organizations have to scramble to pick up the pieces of the federal government. With all its power it could be driving scientists closer to curing more forms of cancer.

There are many people with health issues making it necessary or advantageous to supplement their nutritional intake with B12. From what I have been reading, people with diabetes, dementia, gastric bypass and even many vegans need to think about and be aware of their B12 levels. If you are among one of these groups or for some other reason find yourself needing extra B12 then the next thing you are likely faced with is painful shots. This is definitely a downside to this supplement.

For an option that doesn?t include pain, Sublingual B12 is safe, affordable and painless alternative! This company has sold over 10 million boxes because, very simply, this product works for many people.

Vitamin B12 is becoming very popular among people from all walks of life. More and more people are giving it a try to try to give themselves an extra boost of energy and vigor. From what I read, B12 is great as a stress reducer, skin enhancer, energy booster, and also has many other beneficial health factors as well. If I could get all of this without a painful shot, I?d think about trying this.

Get your sublingual B12 here. Worth a look!

Well?the Populists were not successful in meeting their goals. They did prove, however, that a third party could have influence in national politics and could generate legislation. Although Bryan failed to stop the bankers, Jacob Coxey was still on the march. In a plot twist that almost seems contrived, he resurfaced in the 1930s to run against Franklin D. Roosevelt for President. This was at a time when the “money question” had again become a hot issue. In one five-year period, over 2,000 schemes for monetary reform were advanced. Obviously, Coxey lost the election. But he claimed that his Greenback proposal was the model for the “New Deal.” You know?Roosevelt’s plan for putting the unemployed to work on government projects to pull the country out of the Depression. The key difference was that Coxey’s plan would have been funded with debt-free currency issued by the government (Lincoln’s Greenback model). Roosevelt funded his New Deal with borrowed money and ended up indebting the country to a banking cartel that was magically creating the money out of thin air. Coxey’s plan would have achieved the same results without accruing a crippling debt to the banks.

After World War II ended the money issues faded into obscurity. Today, the U.S. debt burden has mushroomed out of control. Just the interest on the federal debt alone threatens to be a greater tax burden than taxpayers can afford. The gold standard started the problem, but separating the dollar from gold did not solve it. Instead it caused further financial problems. Expanding the money supply with increased amounts of “easy” bank credit only further exacerbated the issue by increasing amounts of money in the bankers’ pockets. Consumers continued to sink further and further into debt. The problem showed itself to be something more fundamental. It was in who extended the nation’s credit. As long as the money supply continued to be created as a debt owed back to private banks (with interest), the nation’s increase would continue to be siphoned off into private vaults?leaving want in its wake.

Bottom line for today. The dollar is a national resource that belongs to the people. It was invented by the early American colonists as a new form of paper currency backed by the “full faith and credit” of its people. A private banking cartel has taken over its issuance, however. It has turned debt into money and is demanding that it be paid back with interest. Taxes and an insurmountable federal debt have been imposed by a financial ruling class that knows how to keep the people enslaved and duped. Happy ending? The power to create money is returned back to the people and abundance returns to our nation. Before we get there, however, the Yellow Brick Road must take us through the twists and turns.

We’re off to see the Wizard! The wonderful Wizard of Oz!

With today?s market many home owners are faced with the need to refinance their mortgage, especially those who have ARMs. Some homeowners may find the Federal Housing Administration (FHA) loan program provides them with some advantages.

The FHA is not a lender. They are a guarantor. If you meet their lending criteria, they will give a guarantee to your lender that your loan will be backed by federal funds if you default.

Because your lender’s risk is reduced with a FHA home loan, you typically can save some money by going this route - possibly a significant amount of money. This is worth looking at.

Continuing our exploration of Frank Baum’s interesting and cloaked use of allegories in the enduring classic: The Wizard of Oz.
The Emerald City residents were required to wear green-colored glasses attached by a gold buckle. The green symbolizes green paper money and the gold buckle is a nod to being shackled to the gold standard.

Dorothy and her entourage presented their requests to the Wizard. The Wizard responded by demanding that they first defeat the Wicked Witch of the West. The Wicked Witch of the West represents the McKinley/Rockefeller faction in Ohio (which was then considered a Western state). At that time, the major financial players were the Morgan/Wall Street/Cleveland faction in the East (the Wicked Witch of the East) and the Rockefeller group in Ohio.

Dorothy and her friends learned that the Witch of the West was enslaving the Yellow Winkies and the Winged Monkeys (connect this to the Chinese immigrants working on the Union-Pacific railroad, the native Americans banished from the northern woods, and the Filipinos who were denied independence by McKinley). Dorothy triumphed over the Witch by melting her with a bucket of water. This suggested that rain would solve the drought and thereby the financial liquidity that the Populist Party’s solution would bring to the country.

When Dorothy and her group were lost in the forest, she had been instructed to call the Winged Monkeys by using a Golden Cap she had found in the Witch’s cupboard. When the Winged Monkeys came, their leader told them that they had been a free and happy people; but now they were “three times the slaves of the owner of the Golden Cap, whosoever he may be” (RE: the bankers and their gold standard). When the Golden Cap fell into the possession of the Wicked Witch of the West, the Witch had made the monkeys enslave the Winkies and drive the Wizard himself from the Land of the West.

Dorothy used the power of the Cap to have her group flown to the Emerald City. There they discovered that the “Wizard” was only a small man behind a curtain. Being a dispossessed Nebraska man himself, he admitted to being a “humbug” without any real power. “One of my greatest fears was the Witches,” he said, “for while I had no magical powers at all I soon found out that the Witches were really able to do wonderful things.”

Who were the Witches the Wizard feared? Behind the Wall Street bankers were powerful British financiers. They funded the Confederates in the Civil War and had been trying to divide and conquer America economically for over a hundred years. Patriotic Americans regarded the British as the enemy ever since the American Revolution. McKinley favored high tariffs to keep these nasty British free-traders out. When he was assassinated in 1901, no conspiracy was ever proven; but there were suspicions about involvement of British high financiers.

What the Wizard lacked as a magician, he possessed as a psychologist. He was able to show Dorothy’s group that they had the power to solve their own problems and realize their own dreams. The Scarecrow just needed a proper diploma to realize he had a brain. The Tin Woodman received a silk heart; the Lion received an elixir for courage. The Wizard then offered to take Dorothy back to Kansas in his hot air balloon, but the balloon was released before she could get in. Dorothy and her friends then went to find Glinda the Good Witch of the North, who they were told could help Dorothy find her way home.

On the way they faced various challenges. Among them a great spider that ate everything in its path and kept everyone unsafe as long as it was alive. The Lion (Populist leader Bryan) welcomed this opportunity to test his newly acquired courage and prove he was the King of Beasts. He decapitated the spider with his paw, just like Bryan would have toppled the banking cartel if he had succeeded in winning the Presidency.

The group finally reached Glinda. She revealed that Dorothy had the magic tokens she needed all along. The Silver Shoes on her feet would take her back to Kansas. But first Glinda told her that she must give up the Golden Cap (the bankers’ restrictive gold standard that had enslaved the American people).

The moral also worked for the nation itself. The economy was deep in depression but at the same time the country’s farmlands were still fertile and the factories were ready for business. The people just lacked the paper tokens called “money” that would facilitate business. The people had been duped into believing in scarcity by defining their worth in terms of a scarce commodity: gold. The country’s true wealth consisted of its goods and services, of its resources and the creativity of its people. Like the Tin Woodman who needed oil, all it needed was a monetary medium that would allow this wealth to flow. It needed to be allowed to circulate from the government to the people and then back again, without being always drained into the private accounts of the bankers.

Frustrated Frank Baum needed an outlet for his Populist message. He couldn’t write the editorials he wanted to write in his own newspaper, so he buried his message in his enchanting story The Wizard of Oz.

Today, let’s look at some of the fascinating allegories.

• The Wizard of Oz began on a barren Kansas farm. Dorothy lived here with her sober aunt and uncle who didn’t enjoy life (the 1890s depression that hit these farmers quite hard). A cyclone came up, and carried Dorothy and the house into the magical world of Oz (this symbolizes the American dream that might have been). The house landed on the Wicked Witch of the East (here we have the Wall Street bankers and their leader Grover Cleveland), who had kept the little Munchkins (the small farmers and factory workers) in a life of bondage for years.
• As a reward for killing the Wicked Witch, Dorothy was given magic silver slippers (remember from yesterday - the Populist silver solution to the money crisis). The Good Witch of the North (the North was where the Populists were strong) Glenda was her benefactor. Also remember that the film changed the slippers from Baum’s symbolic silver to ruby. The original silver shoes had the magic power to solve Dorothy’s problems, just like the Silverites wanted to expand the money supply with silver coins to solve the problems facing the farmers.
• Dorothy wanted to return home to Kansas but didn’t realize the power of the slippers on her feet. She set off for the Emerald City in search of the Wizard of Oz (the apparently all-powerful Leader, who was really a puppet being controlled by financiers hidden behind a curtain).
• The road to the Emerald City is paved with yellow bricks. It’s hard to miss this one. The allusion to the gold standard was very obvious. Similarly to the Emerald City and the Great and Powerful Oz, the yellow brick road would soon show itself to be an illusion. In the end, what would bring Dorothy home were the silver slippers.
• As she journeys down the yellow brick road, Dorothy was first joined by the Scarecrow needing a brain (the naive but also intelligent farmer who was kept in the dark about the government’s financial policies), then next the Tin Woodman needing a heart (the factory worker who was frozen by unemployment and dehumanized by modern mechanization). Interestingly, the Tinman was put under his spell by the Wicked Witch of the East. A common Populist view of evil Eastern influences on honest labor is hard to miss.
• The fourth member to join the little group on their way to Oz was the Lion needing courage. The cowardly lion represented William Jennings Bryan, the Populist leader. He had a “roar” that was mighty like a lion but he lacked political power. Bryan was even branded a coward by his opponents because he was a pacifist at a time of American expansion in Asia. Remember how the Lion fell asleep in the Witch’s poppy field? This was a nudge toward Bryan’s tendency to get side-tracked with issues of American imperialism stemming from the Opium Wars. Because Bryan led the Populist Party, the Lion also represented the people of the Populist Party, collectively powerful but entranced and not aware of their strength.

Tomorrow - continued allegories revealed in the Wizard of Oz.