Economic Cancer

US Diagnosis: Terminal Bankruptcy

Our doctors, politicians, economist, FED leaders and yes even you and me knew the day of reckoning would come. Well the dawn is breaking. Auto, Bank, Credit Cards and more to come – Retail, Airline, Consumer Electronics etc…. Some of the only beneficiaries are bankruptcy lawyers. And the FED is gearing for another rate cut so inter-banking money will be almost interest free! We conveniently call it a deep RECESSION when in fact this country is dying.

Here are some close facts so listeners can become more aware of how bad it really is:

The US deficit will reach $11 Trillion next year – We refinance the debt and interest + spending Isn’t that what the banks did?
50% (appx) of the deficit is owned by Social Security – Medicare and Medicaid Where did our money go?
Social Security, Medicare and Medicaid are projected at a $99 Trillion deficit Can anyone even fathom that regardless of the above and below?
The FED is printing money 24-7 flooding the world markets with US Dollars Is this Pre War Germany to come – currency devaluing will be a final nail
Healthcare and social programs – stack on another $50 trillion over the next few decades. Healthcare and social programs can’t be paid for – more pandering!

The US is a Consumption Economy – No Longer manufacturing or industrial. Consumers cant or want consume – what does that do to the economy in the next few yrs?
95% of Americans use credit, loans and other debt Credit addition is killing and will kill tens of millions of consumers
All majors sectors of our economy are at historic lows Industrial Revolution era, Depression Era and Pre WW II levels (I hope we hear that)
Unemployment and underemployment have approached historic markers And it will go far beyond 12 years – many more decades to fall in ranks
Corporations crumbling under global competition Unions, High Wages and 2nd largest corporate tax rate

Oh there is so much more! OK now given the above – I would love to hear from anyone that can tell me how the US isn’t insolvent or bankrupt already!

Here is the US Medical picture if easier to visualize:

ILLNESS: Cancer National Deficit Consumption Economy

Cause: Long Term Credit Addition US Lawmakers US Consumers

Symptoms: Run Away Spending Massive Bailouts Consumer Unemployment – Under Employment & Bankruptcy

Doctors: Lawmakers The FED Big Businesses

Treatment: Print Money 24-7 Allocate $2 trillion thus far we don’t have Pray the world holds its confidence in our economy, treasuries and currency


Unfortunately, government and business leaders who most listeners and Americans have never met or spoken to – and never will – are in surgery and recommending radiation treatment to kill off many of us with squeezing the consumer and their ability to work, buy good and keep paying their loans. Doesn’t that seem likely to cause the greater economy to fail and fail again. Yes radiation, FED rate cuts, useless stimulus checks to come, bailout etc… are things in the past that didn’t work. Right – if you continue to do the same – you will get the same result. We need massive transformation and radical solutions or we are DEAD.

So to quote another author “What got you hear..Won’t get you there”. And my favorite “No matter where you go – There you are”. And we are smack in the middle of either saving our way of life or completely ruining our country. So here are the solutions – I have been talking about for a year.

1. Pay off deficit in 1 year.
a. US Institutional Investors – required to invest 100% of the money have over $100 Trillion under management and over 50% in fixed income. Pass Law to require 10% of those monies invest in buying back all US debt = America owes America and Economic Revolution
2. Economy Bonds
a. Only Americans can buy them and the Government gives every tax payer bonds for 5% of their taxes (govt still uses money) and we build a savings nation again.
3. Expunge 30-60-90 – 120 days lates over last year and halt negative reporting until economy settles
a. Why? Our economy depends on consumers. If over $30 million have poor to average credit – they won’t get loans, credit cards etc.. SO THEY CANT BUY ANYTHING – YES EVEN A NEW CAR!
4. Refinance America:
a. We are credit addicted and need rehab. Everyone cannot do this themselves – so the govt should create a huge boom in banking revenue (pay off our loans to banks) by allowing the debts Americans have anyway to be refinanced and consolidated in one payment. This would liberate tens of millions and get their debt under management and require counseling. Toxic loans are toxic because people can’t pay. Through stringent counseling then they can work themselves out of the hole or face many many more bankruptcies.
5. Office of Financial Defense
a. Our economy is the heart and brain of our national security. We are under constant threat right now of Economic War. Immediately set up and office to oversee all economic decisions of this country – ESPECIALLY CONGRESS AND THE BUDGET.

Some food for thought for you and the many listeners we serve.

HOW CAN THE CONSUMPTION ECONOMY SURVIVE WITHOUT CONSUMERS

Who is going to be buying cars?

Answer to that – very few. So bail out the auto industry – and It will happen – and they will find themselves right back in trough again because they can’t sell as many cars as they once did. Do we really think people are going to be traveling all over? No they can’t afford to and wait until the credit card companies cut up to 40% of the available credit of consumers. The consumer is already cut off from home equity, refinancing and will emerge regardless of bailouts hobbled at best. Well what does that do to the consumption economy businesses depend on. Yes a car wreck no matter what.

I use the car wreck analogy because as businesses like the auto industry, which is topical, are bailed out, even if you and I don’t agree, the consumer certainly isn’t going to be out buying cars and worse many just can’t. Consumers now suffer from 30-60-90-120 day lates on their credit reports. Consumers are unemployed and with an Obama program of “Great Works” the consumers supporting the economy will find themselves under employed even if they go build bridges and roads. May be great for job numbers and political equity but overall for the economy it will fail to meet the massive waves of chaos that have hit our shores and will continue to drown many industry sectors.

The government is saying this will tighten the belt – it will get worse – and this process will expunge the nation’s credit addicted consumers and bad debts. Really? So you do that and tens of millions of consumer emerge with their credit destroyed and wouldn’t qualify to use credit to purchase anymore. What do you do about that. NOTHING! There are few big ideas, including my rants, that would seem to attack the deficit (our cancer) and the various symptoms to correct our course in history. And by every measure this is historic and will be remembered as the depression of the 21st century. We feel better saying deep recession but it’s a farce. Consumers are the lifeblood of the economy and they are affected the worst.

Yes everyone is culpable – consumer – bank – credit cards etc.. in this massive upheaval, but that is yesterday. No matter where go – There you are! So we are here and watching the corpses of our consumers rotting on the credit battlefield as big business and our government just run right over them. Mark my words a stimulus package – with pandered money – with small checks to consumers will happen. Appalling – that is a waste of money for sure. What about the consumer having credit expunged so they can get credit, having all Americans consolidate debt under one payment (huge surge for banks) so the toxicity of the loans and portfolios isn’t as bad, economy bonds in exchange for some taxes (Japan was a saving nation which saved their financial industry from total wipeout),the 10 percent solution for the deficit – on and on. You thankfully allow me to rant therefore I have a voice – just as you do – can’t we together do something to impact this? Let’s see.

THE TITANIC

Is the US Economy and Big Business too big to sink?

Too big to fail! We have heard this time and time again. Through the history books we heard the same label about the Titanic. Industry after industry keeps running aground as the government continues to bail water out of the sinking ships. How do we save the ship as the life rafts have already been used. What’s next? Pensions, hedge funds, retailers, airlines! How can the US keep printing and borrowing money to plug the leaks stay afloat? IT CAN’T.

The collapse of the US economy is upon us, the ship hit a mortgage iceberg first, then insurance, and keeps ripping the hull at every turn. Bush was right to call Wall Street drunk and I throw in politicians also, Remember Exxon Valdese. The people steering our economic ship were drunk and now even hung over their heads are not screwed on right. while government believes bailing out companies that are too big to fail –like AIG – we all sit in the second and third decks locked in like rats powerless to do anything but drown. The Bread lines we are so familiar with that represented people during the Great Depression have been replaced by companies and entire industries. Everyone is looking to get a hand out, bailout and some way out. But government is not the answer.

During the 80s, 90s and early 2000 the companies we see trying to get a seat at the table have aggregated so many businesses that they are way “too big” now and many can’t fail. So the government has to bail them out? YES. But why hasn’t someone thought of a plan to break up these businesses if government has to step in. GM finance would be a huge IPO and reap billions for GM. GE finance the same and banks and insurance companies can do the same. I know the Leveraged Buyout funds are just licking their lips ready to begin buying assets from failed business. Why isn’t the government forcing the issue that if you take our money we will force a debundling of car brands, insurance lines of business, bank brokerages and lines of business. If we lend the money we can recover the capital quickly through sale of assets and IPOs and really regenerate the markets and streamline big business. Now doesn’t that sound more plausible?

What about the 10% solution for retiring the deficit I suggested. Want a pension and hedge fund bailout then make the markets soar by mandating 10% of their portfolios go toward retiring the US debt. Heck they own some already buying more would cause the stock market to soar. What about Economy Bonds. What about a forced refinancing and consolidation of every household’s debt. 30,60, 90 day lates expunged. If we do nothing but bailout companies then our economy – a consumption economy – will fail worse because millions are out of work and can’t pay their bills. Even if you can pay your bills millions are so hobbled they won’t be buying a car, products, goods and services as they were over the last 30 years. Worse even more millions can’t participate in the future economy because their credit is ruined. How can the US economy be sustained this way. IT CAN’T.

But the government choice is to print money 24-7. Isn’t it clear that this strategy will for certain devalue the dollar and risk our currency as the underpinning of trade. The US is also borrowing money from around the world that it can’t pay back. We see the headlines of trillions of dollars necessary to save the US economy but how does this help when our consumption economy is getting wiped out?

I believe the plan is flawed, even if we take large ownership stakes in businesses to help assure shareholders, you and me, that the money being invested actually is repaid. But if we bail out airlines or auto then what happens when people can’t buy a car? Right it fails later anyway. So the government is trying to play smart and casting off life boats like crazy. But the government is also at the helm and I am certain the policies being implemented will take it down with the ship. Ans remember you and I are trapped on the ship and the life boat, probably in the form of a silly, useless check to stimulate the economy, is what we are being offered. Well grab a life jacket and jump into freezing water – you are sure to economically die either way.

BIG GOVERNMENT BAILS OUT BIG BUSINESS: WHAT HAPPENED TO BAILING OUT CONSUMERS DIRECTLY

Despite Bailouts if consumers can’t or won’t buy PRODUCTS, GOODS AND SERVICES these industries will fail anyway

Big Government is bailing out big business. Citigroup is another example. While our politicians continue to prop up various sectors of the economy consumers like you and me sit on the sidelines not consuming products, goods and services. So what does that mean? Well Citigroup like so many banks is sitting on “toxic loans”. The loans are toxic because Americans are defaulting and behind on mortgage payments, car loans, credit cards and many just trying to provide the basics for their families. With no plan to protect these people the circle will continue to go around and around because millions – tens of millions - of consumers won’t support our economy by buying goods and services because they can’t. This will assure every bailout scenario will fail over time.

50,000 workers laid off at Citigroup. Do you think those people and so many others unemployed and struggling to make ends meet will actually buy a new car, big ticket items, electronics, travel, dinning and the list goes on. Certainly not. Even worse when the years of financial woes to come continue to batter people’s credit rating there will be segment of our society that just can’t or won’t buy things. Forget about banks tightening credit, tens of millions of consumers won’t even qualify to come back into the market to support our failed and failing economic sectors. Tens of millions of consumers will have terrible credit ratings and be shut out. An immediate impact would be to expunge 30, 60, 90 days lates for people trying to pay their bills over the last 12 months and next 12 months. That would have an immediate “mainstream” impact and assure future spending. Otherwise this economy will not recover any time soon especially due to lack of consumption by those hobbled unworthy credit consumers.

Here is an example. The auto manufacturers. Even if they are bailed out their future is bleak. So they survive for a period of time but have no hope of meeting sales requirements in the future. What of airlines, banks and wait for retail among others that will for certain underperform because consumers just aren’t what they used to be. Why isn’t a team of experts, leverage buy out, investment bankers, economist and others with real world experience going into the segments and buying assets that these “To Big To Fail” businesses sit on while their hands are out to government. Why isn’t GM spinning out and taking public GM finance, GE Finance, all the brands they have acquired and rolled up over the past 20 years. Now there is a plan – even if we loan them money we need to break up the conglomerates and unlock shareholder value. If the companies are too big to fail then break them up and fast.

I have spoken to thousands of consumers and everyday people, unemployed, underemployed and credit constrained. Almost 100 percent of them are not buying things – especially big ticket items – and are being forced to raid their stock holdings and 401ks to survive despite huge penalties. With Desperality comes Depression. A deep recession, and we are in one, needs to have consumer support to turn around. There is no way the American consumer of the 90’s and early 2000’s are going to be even close to the sales numbers this year and for the foreseeable future. Without us, you and me, big government bailing out their donors and friends in big business have a failed strategy.

Here comes our President elect. Even now, and I have been saying for a year, the bailout packages combined are well over $1.5 trillion and will approach $2 trillion fast. Well here is a plan to save us! Consumers first.

1. The US takes its next $700 billion and places it in a trust to insure every American’s credit risk. Now that would be a stimulus and guess what assure banks that their portfolios aren’t toxic.
2. Every American gets a 30 day holiday on payments so they can catch up on their bills. Yes this would stifle collections but frankly we are already giving these institutions money anyway.
3. Support every American in an effort to refinance the entirety of their debt under one payment scheme again supported – not paid for – by the government guarantee program.
4. Expunge 30 – 90 day lates across the board over last 12 and at least next 12 months to assure that consumers will participate and can participate in the economy or we will sink.

Then Economy

1. We have an Office of Homeland Defense. Wouldn’t it make sense to create an office of Financial Defense to regulate and oversee the vulnerability of the America heart and soul – Capitalism. We are wide open to the real threat of Economic War by most any nation on earth. Not a shot needs to be fired to crater our economy and therefore our way of life.
2. American Board of Directors comprised of the most capable – real world – executives to oversee all the endeavors of runaway government and make sure we only spend what we have not to borrow against our future. If we had real world executives the US would not be bankrupt and can be turned around from the brink of catastrophe,
3. Pay off the deficit by requiring 10% of all portfolios in the US to be pooled into a deficit fund to retire our debt. All the intuitions must invest 100% of the money anyway why don’t we require that all invest in our nation. We would raise over $10 trillion in the first year, pay off the deficit and their stock portfolios would skyrocket.
4. Immediately step into the world markets and buy back as much currency as we can. The US dollar is soon to lose its status as the underpinnings of world trade. Worse the FED is printing money 24-7 flooding the market with dollars that will roost and cause inflation or perhaps hyper inflation. What would happen if a country like China or Russia dumps a hoard of dollars on the market. Or worse doesn’t show up at our next treasury action. You have it – Economic War.

I am certain that if American consumers don’t get real relief the economy will continue to erode. If we send out say a $1000 check to everyone that qualifies I will be sickened. That is a voters bribe and does nothing for the eroding credit and future credit worthiness that supports spending. They will say it stimulates spending and consumption and it will for some but frankly its flawed, ridiculous and I certainly don’t want Russia and China among others to lend me money or write me a check.

ECONOMIC PROZAC: DEPRESSED CONSUMERS CAN'T BUY GOODS AND SERVICES

Bail out after bailout of big industry won’t help if American’s can’t or won’t consumer their products

A depression is looming over America. Recession is already upon us and American’s inability to afford their current debts and worse companies’ inability sell goods to them will exasperate the economic woes. Regardless of the American people’s vote, the bailout of big businesses will continue, although I suspect overwhelmingly voters would choose bailing out themselves too. Why is this a good idea?

Much of the trouble with banks, auto manufacturers and definitely retailers to come is that consumers are strapped with debt, having lines of credit and credit cards cut off and can’t squeeze any money out to support the industries being bailed out. This should be at the core of the bailout. My solution calls for a converged strategy where consumers get a cash infusion and loans are provided to failing companies. The convergence occurs when consumers clean up their balance sheets so big business won’t have so many bankruptcies and defaults, the core of the problem, while businesses shore up their balance sheet while assuring more spending in the future that is necessary to bolster sales.

Worse millions of Americans have been burdened with 30, 60, 90 day lates on their credit reports further assuring that future access to loans for houses, cars, appliances, air travel etc.. will not be available for up to a decade. This issue alone will cause havoc long term by denying the fundamental supporters in our economy the ability to consume. Bailouts are only a short term fix. With programs focused on simply cash for the big companies we fail to see the long term problems and the ongoing defaults and bankruptcies ahead.

A balanced approach. If government is going to roll up bad loans, thus far in real estate and soon in credit cards, student loans and all other credit markets, then why don’t they attack the core issue to help every American pay their bills. Removing all late payments from the credit bureau over the past year and insulating the next year is a great way to relieve stress and assure a strong future economy. A balanced approach of spending our money to support industry while giving Americans enough money to pay off their revolving debt, up to 100 thousand dollars, will change the game. Fundamentally another issues looms long term. Our credit addicted nation needs to transition to a savings and investment nation again like prior to 1960. Why doesn’t the government issue economy bonds to US citizens instead of selling and refinancing our debt all over the world. This will provide every American a way to have a nest egg while the government still gets to use the money.

The many ways to solve our economic woes are out there. But if we do not fundamentally release the consumer’s burdens and clean up credit bureau reporting the US economy will suffer long term and assure we sink straight into a depression. The government should be issuing Economic Prozac to assure American consumers will be there after the industries are cleaned up. A fair and balanced approach.

ECONOMIC PROZAC: DEPRESSED CONSUMERS CAN'T BUY GOODS AND SERVICES

Bail out after bailout of big industry won’t help if American’s can’t or won’t consumer their products

A depression is looming over America. Recession is already upon us and American’s inability to afford their current debts and worse companies’ inability sell goods to them will exasperate the economic woes. Regardless of the American people’s vote, the bailout of big businesses will continue, although I suspect overwhelmingly voters would choose bailing out themselves too. Why is this a good idea?

Much of the trouble with banks, auto manufacturers and definitely retailers to come is that consumers are strapped with debt, having lines of credit and credit cards cut off and can’t squeeze any money out to support the industries being bailed out. This should be at the core of the bailout. My solution calls for a converged strategy where consumers get a cash infusion and loans are provided to failing companies. The convergence occurs when consumers clean up their balance sheets so big business won’t have so many bankruptcies and defaults, the core of the problem, while businesses shore up their balance sheet while assuring more spending in the future that is necessary to bolster sales.

Worse millions of Americans have been burdened with 30, 60, 90 day lates on their credit reports further assuring that future access to loans for houses, cars, appliances, air travel etc.. will not be available for up to a decade. This issue alone will cause havoc long term by denying the fundamental supporters in our economy the ability to consume. Bailouts are only a short term fix. With programs focused on simply cash for the big companies we fail to see the long term problems and the ongoing defaults and bankruptcies ahead.

A balanced approach. If government is going to roll up bad loans, thus far in real estate and soon in credit cards, student loans and all other credit markets, then why don’t they attack the core issue to help every American pay their bills. Removing all late payments from the credit bureau over the past year and insulating the next year is a great way to relieve stress and assure a strong future economy. A balanced approach of spending our money to support industry while giving Americans enough money to pay off their revolving debt, up to 100 thousand dollars, will change the game. Fundamentally another issues looms long term. Our credit addicted nation needs to transition to a savings and investment nation again like prior to 1960. Why doesn’t the government issue economy bonds to US citizens instead of selling and refinancing our debt all over the world. This will provide every American a way to have a nest egg while the government still gets to use the money.

The many ways to solve our economic woes are out there. But if we do not fundamentally release the consumer’s burdens and clean up credit bureau reporting the US economy will suffer long term and assure we sink straight into a depression. The government should be issuing Economic Prozac to assure American consumers will be there after the industries are cleaned up. A fair and balanced approach.

OLIVER TWIST: PLEASE SIR CAN I HAVE MORE MONEY FROM THE GOVERNMENT

Glynn’s Appearance on Fox news underscores predictions of industries with their hand out

It’s a run on the Federal Government by many industries and giant companies. Big companies are running to the government for help – AGAIN! Auto, Finance, Airline and there are many more mouths to feed. The cascade of the housing and financial meltdown is rippling through every sector of the economy and it’s a worldwide cotangent. Even China is being hurt and had to implement a stimulus package. When do the handouts stop!

The most recent proposal to bailout the auto industry and here comes AMEX adds to the long and growing line of companies seeking government handouts. Although proposed investments are being considered in businesses and loans carrying high interest with warrants it is still just a drop in the bucket. $700 billion is not enough and I suspect it is going to at least $1.5 trillion over the next year. And what we don’t see is the off US balance sheet money being used to help industries suffering front the effects of long term cancer.

The government is wrapping feeble businesses and industries with band aids so much that they look like a mummy. Mummies are already dead when wrapped and this is true for many companies and even industries that continue to line up with their dead hands out. The Ferry Man skeleton we are all familiar with wants a coin in its bony hand to get across the lake. In this case the lake is like the Great Lakes and the shore is so far away many of the companies will drown because of terrible management, unions and the inability of American consumers to consume. These are the fact and wait until retail is hammered this Christmas and forced to come to the government with a hand out. I say chop it off. The government is trying to be Rumpelstiltskin but the spinning of hey into gold isn’t going to happen.

We all want solutions and the cancer this nation faces is the deficit and the banks not lending and cutting off credit without methadone. And when this is all over, which will be a long time, consumer will emerge with horrible credit – 30, 60 and 90 day late or worse bankruptcy. Everyone is hobbled and millions won’t be able to access decent loans and credit cards, auto loans etc in the future. Why doesn’t someone give relief there and allow consumers trying to pay their bills to have their records wiped clean if they have had any negative reporting over the last year. If someone doesn’t recognize this as a major consumption problem then we are blind and this will trickle right down to small businesses, retail, airlines and every industry that requires US consumers to consume. This alone will exasperate the long term crisis.

Why don’t these giant companies immediately begin selling off profitable assets and businesses and even taking them public to unlock shareholder value. GM finance, GE finance and AMEX insurance for example. All huge value producers and obvious vehicles to raise capital though spin offs and IPOs. Also, why aren’t we tackling the deficit – I offered up the 10% solution that I believe is a revolutionary opportunity for everyone. I don’t propose we shut down the auto industry but I do want a bridge loan provided and then a debundling of assets as I would require in other industries. All these business have acquired so many companies throughout the 80’s and 90’s that they are now way upside down and just too big. We should assemble a group of turn around and Leverage Buy Out groups immediately to replace management and get these companies profitable as a condition of any loan or hand outs. These people are experts in unlocking value and have 100’s of billions to participate as a partner in the plans.

There are so many capitalist plans that can be implemented and if we don’t pursue them or force them to happen this will continue to be a cancer we cannot recover from. Worse it has spread to a vast group of consumers that just are out of the consumption game and this will perpetuate the pain everyone is undergoing. With or without our input these bailouts will happen. And the line up just will not end until government puts its foot on the necks of the failing industries and get out of the commercial lending arena.

Conservative Talk Radio and Liberalism: Time to Pick a Fight!

The Liberal bent in the media, TV and Newspaper just elected our President

We just learned that one of the most powerful weapons in the 21st century is the Media. Do you think the founding fathers had any idea that our country’s free speech and the vehicles of Liberalism would impact our county’s direction in such a way. The mainstream media in America has painted you and me into a corner.

I think we knew that Obama was going to win and Congress was going to change. But how did our nation allow the Liberal media bias to essentially coerce Americans to vote for Obama. Conservative radio has power for sure but measure that against the power of TV and Newspapers that were so bias it had a massive influence on molding voter’s decisions. How does the conservative media even fight against such a machine. And worse how about that machine having elected one of their own and on the agenda is a direct goal to crush conservative radio.

I think it’s illegal and unconstitutional for the media to have such an impact on our democracy. Freedom of speech never envisioned this and frankly these influences want to take away Republican’s freedom of speech on radio. Do you find this appalling! I believe its criminal. Think of the nation represented and influenced only by the mainstream media and conservative talk radio muzzled or hobbled. Right now the competitive advantage for airtime and public opinion impact is minimal for the radio against other mediums.

I always like to provide and opinion and solution. With well over $20 billion spent on elections across the nation – clearly almost $2 billion on the Presidential election there is no way the mainstream media is going to give up all that money in advertisement. But I believe it is so damaging to our democracy that we have to have a constitutional referendum to halt all advertising in America for politicians. I want only public service broadcast done and just the facts. Then send every American the resume of the candidates and a basic guide to their positions done by a 3rd party. That is it – a format I believe can take our country out of the hands of these fanatics. That is the only thing that counts when our country elects a CEO. Imagine the current process even being considered in recruiting a new CEO.

Do I think this will happen – not in a million years. But in the meantime if our Democracy is so influenced by the Liberal press as it was this election and we don’t expose it for what it is – our Democracy (republic), well oligarchy if we are honest, is happy to lead the ignorant and undereducated American public right by the nose. If the mainstream media wants your opinion – I assure you they are happy to give it you.

Rumpelstiltskin: I you spin straw into gold The Democrats will give it away

If Obama wins the redistribution of wealth, clearly stated, will take over 50% of money!

With the proposed Obama plan US citizens will see one of the biggest forced redistribution of wealth and class warfare in our history. Proposing raising the Capital Gains tax alone will have devastating effects on the economy at this fragile time. I earn my money and invest it then I am taxed so heavily on the gains why would I ever invest it in the first place. Yes I make more than $200,000. But why should 40% of my income – almost half go to the government. That is almost half of what I make. Why then would I want to do business as a US company. Almost half my money is going to go into a redistribution of wealth. Then if I invest it, which I won’t, another 40% tax is proposed to be put on my gains. If I sell one of my homes the capital gains tax will be so great that I wouldn’t dream of selling at all. And already the US has the 2nd highest corporate tax rate and this will go up for every small business and big alike. Then all the money taken from my pocket gets spread around to everyone else. AHHHHHHHHHHHHH. I cannot believe this is likely to happen.

I will tell you my plan if this happens. I will eat some capital gains and losses immediately on my business, stocks and at least one house. I will plan to spend almost 6 months out of the year in Costa Rica, Belize or Bermuda. I will not be here to give my money away nor will my business. I will be forced to lay off or eliminate almost every job in my core business. The others I have founded or own will immediately lay off employees. This notion of redistribution of wealth will cause so many investors and businesses to just withdraw investment and growth in their business and personal life. Without this support the markets and many sectors of the economy will become much worse.

Almost half of my earning! Where does it say in the Constitution that you can just reach in and take so much of the money I earn. I earned it not a bunch of other people. And worse it is going to be forced on me. If I were asked to pay my fair share into a pool of investments that would retire the deficit I would today. If I were asked to give a helping hand to an American, like supporting a child overseas, I would do so immediately. Why wouldn’t I get a tax free break on donating the money into programs like this.

States are now shuttering and I predict some will go bankrupt. But to stave this off State taxes are sure to go up too. So this will be over 50% of my hard earned money. So I want someone to tell me why over 50% of my money will be taken from me once I earn it and why I should continue as a US corporation. RIGHT! You couldn’t give me a reason other than patriotic but taking so much of my income just isn’t fair nor is it acceptable to me. You can follow my story if Obama gets elected and I assure you I will go to any means necessary to protect my income and hoard my cash. I will not invest one penny of it in growth of new jobs and in the markets. I know it sounds bad but no one is going to take more than 50% of my hard earned money and waste it, give it away and mismanage it so horribly that it only makes sense not to participate in investments, business growth or the open check book to Congress.

MONDAY MORNING QUATERBACK: ALL THE FINANCIAL BLOCKING AND TACKLING WON'T STOP THE BLITZ

I hate tell you – I told you so

Here we are getting the news that retail sales are down and going down further. Unemployment rising and will continue. Sector after sector will continue to feel the massive credit crunch as consumers can’t or don’t consume. The credit addiction, withdrawal and fear will just keep them at home. Worse if Obama wins, and it looks likely, the projected tax increases in capital gains to almost 40%, reinstating the inheritance tax, taxing high income families, capital gains on homes and much more will cause a panic post election and through the next 18 months. It’s worse than a perfect storm and I have been saying for months its coming.

Greenspan called it a Tsunami – I used that term months ago to describe the devastation after the Wall Street quake. Mark Cuban says the real problem will be if the foreign governments unload or debt and currency or just don’t buy new Treasuries. And I.O.U.S.A. painted a grim picture regarding the deficit. I can go on and on but my shtick must be getting heard because I am hearing it on the news every night when the fact is I have written, spoken and ranted about all this for over a year. I don’t need credit for anything just want to propose alternative solutions to get us out of the mess. I don’t have the reach and voice that you do but I am thankful to the dozens of radio stations I serve weekly.

A Monday thought for you. What will all the proposed taxes under Obama’s plan do to the economy even just based on him winning. I think a sell off and bailout of the market by the real influencers will take place at the same time the retail, airline, auto, bad credit card debt, student loan problems and everything I have said hit at once. Wachovia released a tax analysis of Obama’s plan and McCain’s. It was shocking! On top of all of mess it will cause and the massive transfer and redistribution of wealth American influencers and businesses will get so much more tax that their necessary support of the markets is sure to be pulled back. Imagine earning money and investing it. Then you make some money on the investment and get taxed heavily again. That is insane. How much more of this can the economy handle? None. Also, check the Bush tax plan and the tax roll back – that hikes taxes considerably more. I can’t believe the under educated, ignorant voting class actually understands how bad this is and will be.

I don’t have to tell you I have been calling all these shots – I am certain you have read my tea leaves. But someone needs to stay on point and serve listeners both the plate of dog food and the solutions to clear the plate. Help me help you get the word out.

THE BILL GLYNN CRYSTAL BALL CALLS WALL STREET SHOT AFTER SHOT: EARNINGS REPORTS GET MORE NEGATIVE

Months ahead of the retail and other sector disappointing results Glynn continues to predict the financial chaos.

On radio and TV I have predicted the recession to be caused by terrible retail, service, auto, finance and many other sectors that are now being hard hit. I have looked out into the future and gave specific views on the financial crash, how it happened and solutions. I have said for months the earnings reports are coming out and will continue to be abysmal. The earnings reports as a result of consumerism dropping off sharply will cause many more problems for Wall Street.

The credit crunch hitting main street is unprecedented. The only way to support our economy is to have American consumers – consume. Well that isn’t going to happen for a while. The result – many sectors already feeling the squeeze will be battered, hobbled and many just unable to survive. This fundamental truth is gloomy but I think everyone who reads my blogs and hears me speak knows I have been predicting this for months – and I will say again – the worse is coming and fast.

The financial bailout was necessary but is not close to enough to sustain a retail free fall. Main Street just doesn’t have the credit or emotion to drive sales and this will assure a recession – although we are already in one that will deepen significantly. Mark my words because its coming and if a Democratic White House and Congress is in place the fragile and weakening economy will be crushed for certain. Please go to www.billyg.net and see the dates of the various predictions made and I think you will agree my crystal ball is pretty darn accurate.

THE SHOES ARE DROPPING: WHAT THE BAILOUT DOES'T COVER YET!

THE SHOES ARE DROPPING: WHAT THE BAILOUT DOESN’T COVER YET!

Keep a close eye on one the many sectors that WILL be hit hard

Retail will be abysmal this year because of cautious and emotional consumers. Being cut off from credit with many consumers simply maxed out the spending America depends on to support the many sectors of our economy will cause more havoc.

As I have been writing the worst is yet to come. The financial crisis is far from over and the world economy has to wake up to the fact that products, goods and services will be hit extremely hard over the coming year. What we don’t see yet is the massive bailouts for credit card debt, student loans, automotive, airlines, retail – on and on. The underpinning of our economy is consumerism. Without the American people’s support the many sectors of our economy will weaken assuring a worldwide recession at best.

The government’s rush to act to free up credit among banks and to save financial institutions was very necessary at this point in our history. The free markets needed to have the government intervention and the plan will provide some relief but it is far from enough. Even with the new stimulus plans being implemented the fact is consumers just can’t or won’t be able to afford large ticket items, luxury goods, traditional services and the retail pull back may be good for Wal-Mart but will cause major companies to collapse or be seriously damaged in the next year.

I am not a doom and gloom expert but a realist facing forward that believes strongly the US and the world for that matter is teed up for continued pain. The free markets will correct themselves and portfolio values will come back but this won’t happen for a while because many stocks will be battered as performance in sectors that require consumer spending just won’t get the necessary spending support. Layoffs, plant closings, unemployment, consumer confidence will exasperate the problems the economy already faces. So will the financial bailout be the solution? NO! there is more to come and as we borrow and print money to support the lofty plans in the financial industry more roosting will be upon us.

Watch the indicators and please pay attention to the future bailouts of more bad debt coming from the consumer sectors like credit cards and student loans at a minimum. When retail numbers begin to hit mark my words Wall Street will not be happy and continue to go up and down like a roller coaster. Also, if the Democrats to get into the White House and control Congress all bets will be off. The mere fact that Capital Gains and Business Taxes will be targeted especially focused on wealthy investors who keep the markets afloat and small business there will be a panic and major backlash – exactly what we don’t need at this historic moment in our economy.

I have offered a series of solutions at http://www.billyg.net/ contained in the I.O.U.S.A. NOT pamphlet that all listeners can read and gain an understanding of the issues and also plans that we all should hope get the ear of politicians.

KENNEDY VS. NIXON = OBAMA VS. MCCAIN: CHARM IS WORTH MORE THAN EXPERIENCE

Why Obama will be President and how we survive another Jimmy Carter Administration

History repeats doesn’t it? I have always said we just don’t want it repeating on US. But Americans have been charmed by Obama. Last night was McCain’s final pitch and he just didn’t close. This my friends, to use his words, was the end of the election. Get ready for a mirror of the Jimmy Carter administration. The personality, plans, foreign policy and domestic line up perfectly. We all know what happened there!

I am hugely disappointed in all the spent opportunities McCain has had to blow Obama away. Like Nixon against Kennedy it wasn’t about experience and track record simply about America falling in love with CHANGE and the savvy politician. Obama is no JFK but McCain appears to be more like Nixon for certain. What the heck are we going to do with a Democratic White House and Congress because I assure you it is coming.

Honestly, I am sitting here writing this and feeling sick. But like I have done calling the shots ahead of time with the financial crisis predications I am going to call it like I see it - I hate to say it but Obama is going to win the election. Do I hope something happens in the next week to turn the tide – or the box of Tide as I say - YES – but it can’t. The Democrats have so many voters registered because of Hillary and Obama and Obama nailed the college students last night with his programs for them that the odds are stacked so heavy in their favor and I doubt the river card is going to get McCain over the top.

Instead of being sick, distraught and bitter we have to take our medicine and understand the implications to prepare ourselves and the economy.

1. Economy: In a welfare state, entitlement society and changing tax environment the markets are sure to decline and people are just not going to spend money. Trickle down works and when those that employ and have money don’t spend or freeze or down size – and they will – our economy will erode further and a very deep recession – perhaps a depression will be imminent.

a. Expect unemployment to sky rocket and many large businesses WILL for certain now move jobs overseas

b. Retail sales to be abysmal and for a while because the spenders are not those making 42k a year to be frank – it is those that make real money that buy stuff and they will pull back because the government wants more money

c. Stock markets cratered and capital gains increases will assure this

d. Deficit not to be handled but increased

e. Spending on entitlement programs to go through the roof

2. National Security. One thing for Bush is he kicked butt around the world. Like with Jimmy Carter I see a dismantling of our armed forces and capabilities. We all know that the Taliban, Al Qaeda and Hugo Chavez are all rallying for Obama to win. This is because America’s foreign policy is going to be radically different and will make America weak in our enemies eyes. This has far reaching implications and will for sure change our stature in the world – and some by the way will be positive as I can see where Obama may get a lot of nations to like us.

a. We are economically weak and will be more so – a new Era of Chinese, Arab, Russian and India dominance is a reality and will be sped along.

b. We may make nice with many nations but with real power on earth we will lose our fangs for sure – hence why all the weak nations and terrorists are rooting for Obama.

3. Energy. Obama will invest in alternative fuels for certain. This is good but will take 10 years and even with an energy revolution here it will take so much time that in the next 4 years we are going to choke on fuel.

a. Without massive drilling – we cannot send the message to the world and force their hand on energy. We are the world’s biggest client and I am sure this will wake people up.

b. 60 percent of our oil comes from here, Canada and Latin America, 22 from Africa and only 18 from the Gulf. Get that straight and you can get your head out of the sand and really grab our energy from Canada and Mexico and cut Chavez off – but that isn’t going to happen – we will be weak on dealing with international energy.

Other than packing up and moving out of the country – we have to brace for another Carter Administration. I think Obama will have a powder keg in the White House and blame everything on Republican policies. I guess we have to ride this one out and tuck away our cash fast as everyone will be ripping money out of the system as we all know taxes and capital gains are going way up.

TRUST: LAWMAKERS, WALL STREET, PAULSON, THE FED AND BUSINESS LEADERS

TRUST: LAWMAKERS, WALL STREET, PAULSON, THE FED AND BUSINESS LEADERS

The definition of trust is a firm reliance on the integrity, ability, or character of a person or thing

Andrew Jackson spoke these words in 1832 to a delegation of bankers.

“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”

A friend sent me that quote recently. I feel like a Paul Revere racing around the country trying to make a difference – I know you want to too. Confidence and trust in our institutions, Congress, politicians and America has expired. I HAVE A GOOD CHALLENGE! Poll your listeners and viewers and I bet almost 100% would say they have no confidence or trust in our leaders – government and business alike. We all know it is true but who is willing to stand up and say it. I am! Heck someone has to.

Do Americans and the world TRUST America. NO! I can’t remember how many times I have alerted the media about the confidence game and the erosion of world confidence in America. America has been bankrupt for many years now trading our future for quick bucks and financial lawlessness. Congress has defeated a Constitutional Amendment that requires a balance budget each year. Can you believe that. What a joke. These self regulated LAWMAKERS actually said no to one of the most important Constitutional Amendments in American history. When do you remember the last time we had a balanced budget? The deficit and borrowing has grown every year since 1957. Now with our deficit approach $11 trillion how could our leaders let this happen? No wonder why no one trusts our government and when the modern Robber Barons crater their companies and put hundreds of millions of dollars in their pockets we stand by and just watch it happen.

Ok, now let’s look at the definition of confidence: Trust or faith in a person or thing.

Horrifying isn’t it! And we say this is a Democracy. If America was truly a Democracy then we would be empowered to do something. Then why do Americans feel impotent, unimportant and hopeless. Well first America is a Republic where we elect representatives like in Rome but does any American think these people are working in our best interest and putting America first. I will bet my life and net worth Americans will say they are appalled, disgusted and outraged. Why then if we don’t trust these people do we allow them to run our country and institutions. Well I am here to tell you again and again and again this is an Oligarchy; RULE BY THE FEW, THE RICH AND POWERFUL! You are either in the club and ruling class or you are an outsider and a little person throwing rocks at the sun.

Imagine in your home, workplace or community if no one trusted you or had confidence in your abilities. Yes, you would be fired for certain and alienated by everyone around you. If you made promise after promise and told lie after lie what would be the outcome? Again, horrifying for you. And here we sit glued to the markets and the TV just to be programmed and pandered to when we all know its BS and we don’t trust a word of it. It is hardly conceivable that we can take back our country. And as sad as it sounds it is more than likely the US will have to declare bankruptcy in my lifetime. The minimum outcome will be flushing the American dreams of millions down the toilet – in fact many have already been flushed and left to rot.

If you are sickened like me and the media has the biggest voice of all then why doesn’t everyone band together for a day – one unified broadcast – in every city and town and hold a truly democratic town hall. Ask all the same questions and present all the same facts. I think this will create a movement and expose our leaders as untrustworthy, lacking character and many deserving to go to jail.

WALL STREET ON A BUNGEE CORD

The markets around the world are watching Wall Street dangling from a bridge and it lifeline is about to break – WHY?

Emotion is ruling the markets and I continue to call the shots that $700 billion is not enough and will be at least $1.5 trillion. The ups and downs on Wall Street are being caused by panicked investors and short sellers. Why doesn’t the government do away with short selling all together. Wouldn’t that keep pressure off the companies and the market – of course it would. Will global interest rates save the market from the jump it took and the bouncing up and down as if it were attached to a bungee cord. No!

Regardless of the various banks around the world interest rate cuts banks are still just not lending money; to consumers nor other banks. The liquidity in the market and what caused the crunch is as I have said for months – confidence. Now the pundits have picked up on the fundamental issue that caused the collapse in the first place and confidence has still not been restored. This is and will be an ongoing issue as banks and insurance giants try to keep their heads above water.

Banks have also cut off credit to the people that support our economy. I’ll call the shot again as I have been RANTING about for months - that come holiday and retail season we will see most every sector get hammered. Wall Street knows this already and will wait for consumer confidence and retail numbers to come out and I assure you it will be dismal. This will exacerbate the problems for sure and force the markets to erode much further. Are we at the bottom – no and plan for more bad news – It is coming and from many places. The world is feeling this and as we are connected globally the US markets are under sever scrutiny and pressure from around the world to get their act together. Worse the world is losing confidence in the American system and with that is keeping a very close eye on treasury auctions. Just pray the confidence there does not erode. That truly will be nail in the coffin for our economy and surely bring a 21st century depression upon us.

Do I like the $700 billion dollar bail out and even McCain’s idea of re-pricing consumer loans to market values – NO. But despite everyone’s disdain for all of this there will be a much much higher price to pay and its coming now. McCain’s plan has merit and will allow consumers a better deal rather than foreclosure but that will take some time as well. Until the cancer of our country is solved and the deficit eradicated – please not my 10% plan – there will continue to be deterioration of confidence in our system and the bungee cord will keep going up and down with the elephant and the donkey holding on with a toe.

The problem is that Wall Street jumped and took everyone with them. I know we want these people to drown and cut that cord with $2 trillion of value already sucked out but frankly there is little anyone can do. My strong opinion unlike Cramer is to keep all money in the portfolios that have lost so much value. Keep an eye on the future and hope someone leads our nation to halt and fix the deficit, social security, Medicare and Medicaid to truly restore confidence in our nation and the trust and confidence of our consuming citizens or expect that life line to break for certain. Also, I cannot believe our lawmakers have not changed the Mark to Market rules. This inaction and incompetence is the same as the oversight of Freddie and Fanny and just one more example that Lawmakers should never manage our money let alone a check book.

BULLSEYE: GINGRICH HITS THE MARK - TO MARKET

Finally Some Real Solutions

It is so refreshing to turn on the TV and actually hear some rational strategy to help clean up this financial mess. Federalized accounting rules and Clinton era loan programs for the underprivileged fueled the car that hit the Wall Street. Not to say greed didn’t play a major role and the confidence in the US housing markets and the loan portfolios a key to the meltdown, but Mark to Market rules understated much of the value of mortgage portfolios that resided on the balance sheets of our major institutions. This required them to set very low and unrealistic values for mortgage portfolios that cause a major reserve problem, devalue businesses, and broke the back of companies like Merrill Lynch, Lehman Brothers and many banks. This one requirement has caused so much turmoil and forcing banks to lend money to risky home owners under laws passed under Clinton created a large part of our perfect storm.

Was Newt Gingrich correct in his idea to remove the Mark to Market provision? You can bet the farm on that one. With all the problems in our markets and the worst decline on Wall Street in history did the Lawmakers make the right choice by killing a bill, all be it very necessary, to shore up the economy? YES! The bill was laden with such a heavy burden that even the Democrats with their hold on power in the House couldn’t get a huge swath of their own team to pass it. The issue then of course became political as Democrats blamed Republicans for the debacle while the public was outraged and the markets collapsed. The Republicans since the beginning have a much better plan that would have made the bill solid and financially attractive.

Mark to Market reform would alone shore up many banks’ asset positions by valuing those portfolios on the books properly, not at a hugely depressed value, allowing their reserve requirements to be met as their balance sheets would became more healthy. This would free up hundreds of billions of liquidity for banks and other institutions almost overnight. Also, repealing the forced laws on banks to lend to under privileged home owners would also change bank requirements to lend to risky homeowners that was also at the root of the financial meltdown. So what the heck is going on in Washington?

My conclusion is that this Bill will pass but not before some compelling financial strategies are in place. Lending not buying and insuring can relieve a lot of the problem although some portfolios need to be bought. Also, it is critical that this includes removal of the Mark to Market and federal home loan programs that force banks to do risky lending. I believe simply removing mark to Market provisions alone would hugely advantage our institutions and thus bring huge liquidity back into the market. If lawmakers can’t see this as a major piece of the legislation and ongoing reform then we are going to remain in financial jail so to speak held captive by the undervalued assets that the banks and financial institutions hold. Washington better be listening because this one move can turn the economy around despite the meltdown.

I TOLD YOU THERE WAS ANOTHER $7000 BILLION HANGING OUT THERE!

BUT WHERE ARE ALL THE OTHER SHOES THAT WILL DROP!

Do we really think $700 billion will be the end! What about the education loan, credit card, auto relief programs. Even worse what about the holiday season where our credit addicted country and its consumers won’t have access to the dollars to support the other sectors of the economy. Although the FED is urging the political machine to act and act swiftly the world has lost its confidence in the American markets already. And wait there is more. I assure you theBad Asset Trust will buy more loans and have more dollars printed to support the other sectors of the economy. I say $1 trillion plus up to $1.5 trillion. That will put our deficit close to $11 trillion. I wonder if our citizens even realize the magnitude of that rock around our neck.

What if the FED and politicians bantering around and putting all sorts of stipulations in a bill doesn’t work. Financial meltdown! Worse if we lose our world credit rating and counties don’t buy our national debt and interest so we can simply refinance it and lose faith in our dollar what would happen then? Our economic collapse.

Yes we are facing the worst crisis in American history. We a liken it to the Great Depression but it’s much worse because the world markets being connected and the dollars are so much bigger it is staggering. As the FED prints money night and day to support the problems what is happening to the US dollar. Our value is eroding and fast and already world government that hold hoards of currency are looking to alternatives for trade. What if the dollar was no longer the underlying trade currency? Again boom America is cast into a financial free fall that we cannot print money for and try to buy our way out.

You see we are in a catch 22 thousand. The confluence of so many events that are hitting and roosting here at home means that regardless of the bailout it’s not enough. The Full Faith of the United States Government is waning as Congress is doing the same all over again. The future President will inherit a nightmare and the candidates still haven’t offered a solution like my 10% to clean up the cancer in the American body. Bring in the crash cart for this because it is not over by a long stretch. This will cascade throughout the world and every sector in our economy. We are so far behind the 8 ball with no leadership to fix the issues that I feel compelled to ask every American to oust these politicians in the election and make sure we establish an Office of Economic Defense with a real CEO and team to manage our way out of this over the next decade or our way of life will be halted.

I.O.U.S.A NOT!

USA OWES US!

We have to face the fact that our nation is BANKRUPT! Financially, Spiritually, and Socially! Our cities are crumbling, hopelessness is everywhere, we have created a permanent social underclass, our family values, morals and spiritual compass are being flushed and spinning like our instruments are in the Bermuda Triangle, denigration of our society from within by urban hip hop, Liberal Television, publications and media, fraud, waste and abuse in Washington and an Economic Disaster that we have only seen the beginning of. I want answers and solutions and you should too. Help me get the word out!

The United States Government and its leaders have bankrupted our nation. It is appalling at best but our government and business leaders have gone way too far and I guess we are all supposed to pay and pay and pay for their mistakes, fraud, waste, abuse or power – on and on and on!

IOUSA gave a grave picture of these facts and I believe WE are owed answer and solutions to protect our way of life. We are all shareholders in this nation and must stand up and protect OUR America. If we allow government to do more of the same we will lose international confidence and will be cut off from those nations buying our debt that are keeping the USA from bankruptcy right now. The Freedom guaranteed under the Constitution has been squandered by the Oligarchy that rules our nation as we are more beholden to China, Europe, The Middle East and the world at large.

Don’t you think its time that the people of this nation mobilize and make sure we keep the politicians in check. Why don’t we have an Office of Financial Security with an American CEO to run the country’s finances. I don’t see Congress being able to manage a check book especially not our nation’s. I expect the 10% solution to become a mainstream idea and I hope someone in our government will get the requisite talent and the proper checks and balances in place to get America back on the road to recovery. Unless we help each other rattle the Washington cages the out of control people and special interests will continue to fleece our country. Do you really think we can support the trillions of dollars of guarantees our Government has obligated itself to. NOT and that is not just a nightmare but one we cant wake up from.

I TOLD YOU SO!

BANKS, INVESTMENT BANKS, NOW INSURANCE – AND WAIT MUCH MORE TO COME

I am not a Monday morning quarterback although I have been saying for months this meltdown is going to keep coming and get worse. Of course the insurance industry that re insured many of the mortgage packages sold by banks through brokerage firms like Lehman and Merrill will be hard hit and it’s only just begun with AIG. Everyone is culpable and everyone will get hurt badly and keep getting hurt as I have been saying. I have been a month or two ahead of this curve consistently and not blowing a horn of mine just a trumpet I hope is loud enough to get attention around the issues today and definitely those coming like a train wreck.

But is there more to come? Yes of course! There will be many more bank failures and the imminent horrifying retail season coming up. What will that bring to American businesses? More of the same but worse! The cascade of this meltdown and our national and personal credit addiction is coming home to roost presently. The people out there are limited in their spending power now and this will tighten belts and leave our economy in many sectors dangling on the brink even worse than it is already. We are dependant on consumers to support the various US business by buying services, products and of course Christmas presents. We are also dependant on foreign nations to purchase the paper we issue to run our country backed by the “Full Faith” of our government.

A recession or depression? We are teetering on the brink of not only a Depression but the loss of our credibility as an investment grade nation. What does that mean? Well how can we pay our astronomical debt and interest if the US can’t roll over its interest and issue new debt to pay our creditors? The US is doing exactly what the banks did and for years it has done so. I can’t believe that all involved raiding the American bank didn’t know this was going to come home to hurt our nation. We are extremely vulnerable and the politicians are simply treating each instance but have no plan to cure the cancer our nation suffers from. I put forward the 10% solution again to solve the underlying issue with our economy – the mess that is and is coming is much worse than the daily headlines and can’t be stopped now.

We are at WAR. The day is upon this nation that is unavoidable and we can not continue to do business as usual. Unless our markets and debt is addressed massively, urgently and with massive force the rattling of the banks, insurance companies and soon retail will be the beginning. The end will come when we get cut off or our borrowing rates get so out of control that the US itself gets caught in its own death spiral.

Economy bonds like war bonds! 10% of asset allocations in the pensions, 401k’s etc.. to buy back all US debt? Is this too simple to make it to Washington or am I missing something? Incremental solutions and fixes can no longer hold off the Visigoths – we have a Clear and Present danger to our nation and on TV all I see is pandering and sales pitches that cant possibly be the solution. I hope listeners can really hear the facts and solutions before it’s too late.

AMERICA'S DRUNK DRIVERS FINALLY WRECKED THE CAR!

POLITICIANS AND THE FED HIT A HUGE WALL STREET AND USING BAND AIDS TO TREAT THE WOUNDS!

Lehman Brothers, another sacred American institution, is in collapse. Freddie and Fannie have little hope of being saved. And America is throwing band Aids one by one on issues and avoiding radical treatment to save our economy. What are our leaders doing and why at this grave time is it politics as usual?

A Bridge to Nowhere! Who cares. Lies and accusations are being tossed around the emergency room. The car wreck already happened and the American body is traumatized. Where are the surgeons that can fix this thing because I don’t see anything coming across the tube that makes me feel like politicians actually get it and are in touch. The banter continues and the brand lifts are being ridden on top of the big tidal wave crashing into Wall Street and still we bury our heads only to emerge each time a crisis hits. The meltdowns will continue to hit the market and keep coming. Even worse just wait until the retail season is upon us then we will be in really big trouble as the trickle down of the banking collapse hits home worse than ever and will inflict damage on every industry here. America has reached its breaking point. The FED has to keep wheeling the crash cart in just to keep the heart beating but that’s not going to keep us alive.

Our Government cannot support the banking meltdown. Our institutions could rally with an outcry of American resilience but I don’t see anyone mobilizing the leaders of all of our industries together to solve our own problems and we have them all over. Auto, Airline, Energy, Financial, Services, Retail are all getting pounded and we are allowing foreign governments entry into our system to take over. So what of McCain and Palin, Barrack and Biden! Someone, somewhere needs to do something and not just simple triage and some stitches – this is open heart surgery and BRAIN TRAUMA.

I say brain trauma because we have had to of lost our minds to let our economy keep melting and our politicians keep shoveling the same crap down our throats over the TV. This is clearly insane and by any measure the people driving that car that wrecked must have been drunk as Bush said and politicians were riding shotgun. We are hooked up to life lines from across the world and our government just hopes if it keeps on “GUARANTEEING” more and more debt that it will all be ok! Well it’s not.

I offered 2 simple solutions:

1. The 10 percent plan to use already invested capital from large institutions to pool enough money together to eliminate our debt and put massive liquidity into the markets. They have to invest 100% of the money so why not invest our economic liberation. The markets would for certain go through the roof – EVERYONE WINS! Especially you and me.

2. Economy bonds for Americans to become a savings nations! Bonds can be issues for some tax paid into the government whereby the government still gets the money and our citizens begin to take stock in our nation again. We sold WAR bonds when our freedom was jeopardized why not Economy Bonds.

This is WAR after all – Economic War! Our national security is certainly at risk and the heart of America which is our economy is sputtering. Regardless of how many times we can jump start it the trauma will still be there unless someone fixes our broken body. I am pleading with everyone to just take a simple look above and realize the power we can place back in our hands and how we can step up and let America take control of its destiny and rise above the political banter to attack the most serious of issues.

WHY THE GOVERNMENT HAS TO TAKE OVER FREDDIE AND FANNIE AND MCCAIN HAS TO BE ELECTED

Freddie, Fannie, many more and it is not over. Wall Street has to have McCain!

Can the government actually afford to take over and support Freddie and Fannie. Answer! absolutely not! There is just way too much money and too many mortgages to shore up. But despite the fact that necessary steps had to be taken and unfortunately incrementally only reinforces the fact that our market is losing luster and the world’s confidence is waning in light of the meltdown.

So who cares? Everyone! That’s why the election is also crucial and why the people may love Barrack, even in Europe, but the fact is he will crater the economy if elected. The Wall Street crowd and many overseas will just puke if his tax plans are implemented. It may help the middle class by redistribution of wealth but the economy is only supported by their spending not kept afloat in a volatile and dangerous world economy.

If confidence is lost in American markets just think of the catastrophic issues it would cause. In the early 90’s Japan hinted at selling some government securities and our markets cratered. Today, only one of the major debt holders in the world would need to balk and either raise the interest demanded on US securities or just not buy new issues. It is appalling to think how fragile our economy is and that’s why the government must intervene. The government must keep the markets afloat long enough to the see this through and to keep all the panicked investors here and abroad under control so they don’t write America off.

We all know the plans and tactics both parties want to use to shore up the economy. America needs to get away from the $200 million brand war for office – eating it all up on TV as its served – and realize that if Barack Obama is elected the markets would immediately react very negatively. McCain on the other hand plans to reduce the corporate tax rate now 2nd highest in the world. He plans to deliver more relief to small business and yes even to US shareholders – you and me. After all we are a capitalist nation and we need a real CEO in place to help bring America back from the brink.

I hate to say it but I have been on air for months telling markets that Freddie and Fannie and hundreds of financial institutions were melting down and the government needed to step in to shore things up. I am disappointed that it is being done incrementally. We need a massive intervention and we need stewardship beyond that will loosen up Wall Street not make the investors skittish because that alone will leave America out dangling in the wind.

PALIN IS THE RIGHT'S RIGHT CHOICE - RIGHT?

Palin is the Right’s Right Choice – Right?

The Historic female VP nomination can and will energize voters in the country. Although McCain didn’t get Tom Ridge or Senator Lieberman he did get a strong and values based partner that has the much needed momentum to compete with a brand like Obama that I call a box of Tide. Palin is getting smeared across the news and yes the vetting process wasn’t thorough enough but frankly I don’t think anyone should throw stones. Look at Obama, born Muslim and being hailed in Europe as the first Muslim born President of the US. He was a Muslim for a long time as was his family and the Koran clearly states leaving Islam and following a different faith is punishable by death. Does anyone see how that can be used by our enemies and how this alone can fuel hatred by radicals against the United States.

There are so many rocks that will be tossed during the election that only obscure track records, experience and visions. IT IS SIMPLY VILE! With so many issues facing our nation the television viewers only see a bunch of dirt being slung and using hundreds of millions of dollars to brand a person properly. In the case of Palin she did have a DWI, 22 years ago! Obama was getting high on dope back then wasn’t he? Palin’s daughter is pregnant at 17. So I guess that’s now Palin’s fault. This is so ridiculous I don’t even want to turn on the TV to hear about it anymore. She fired a government employee and is now under ethics review. So let’s investigate her not the other guy. Do you see how the Democrats are working hard to discredit and smear her before the American public. The Republicans will bash Obama and Biden too but who is getting to the issues.

McCain has bullet proof credentials, patriotism and courage many of us would wish for. Just the Vietnam experience alone is an amazing testimony and of course tongue and cheek being attacked by Democrats. Palin, a dedicated mother with tremendous courage to bear a child they knew was handicapped, is a leader that also comes from a state with 20% of our oil reserves and has the necessary relationships to make sure drilling is economic, safe and can solve some of our energy crisis. But this too will be skewed and attacked.

Why don’t we build a web site that just list credentials and a resume. The business plan of the candidates for this country and the background checks for them. Rick Warren’s platform was the best I have ever seen. Just questions and answers and facts. No BS.

Anyway anything that can be said about McCain and Palin can be said just as bad about Obama and Joe Biden. Its back to the political crap we all see every election year. The debates don’t even do a good job of getting the critical information out it is a platform for stumping to the American people. I see all these headlines about Palin and it seems to me to yet another smoke screen to hide the lack of experience of Obama and the fact that Joe Biden is really the guy that will have the substance. Since we aren’t voting for a VP why do we even let these hate mongers rip into Palin in the first place.

It is sickening!

THE SEWER: PEOPLE HAVE GATHERED TO EAT MORE SEWAGE AND POLITCIAL FRAUD THAN EVER

EVERYONE HAS BROUGHT AN APPETITE TO DENVER AND READY TO REGURGITATE ALL THE BS FOR YOU

Political fraud happens every day. Every word, gaff, background, look, handshake, speech etc.. is under intense scrutiny and exploited as news worthy every single minute during the election season. The Circus is in town and we all have tickets to the Greatest Joke on Earth.. The American Election.

Think of all the crap that happens during this cycle – I heard even last night “DEFINING” McCain. Are you kidding me – I was so pissed off I turned plaid and couldn’t sleep – talk about how crazy I am about this stuff! Defining anyone has zero relevance and is political fraud. The person is the person – running mates running mates and our political process is reduced to having tag lines and ideas spewed at the other guy so he isn’t an acceptable brand in America. Hundreds of Millions of dollars spent doing it.

The only relevant things in an election is the track record of public or private service. The business plans for each segment of the economy and should include b plans from the party for Social Security, deficit, war, religion and all other things not to be spoken of at a dinner table. Rick Warren’s platform was a significant step toward bringing honesty back to the system. Why shouldn’t we have the candidates just stand up and answer questions. The cabinet, VP, one by one have slates and slates of questions, the track record available, the mission statement and executive summary available. The rest is all so absolutely appalling I can’t even finish my coffee I am so upset. Aren’t you upset!

I realize the money game and all that is spent into the media and the economy at this time of year, all the favors, back room deals, eye winking and head nodding being done and frankly the snow job we allow to happen. Obama this time has to live up to DNC freak shows of the past and hype everything about himself and others to make him look like the guy to bring our nation from despair. What a joke and all the democrats will open wide and just eat until they can’t anymore. Broken promises, lies, filth, slander and fraud.

Honestly, I have hit a chord in myself now and I am certain this is a sickening subject to even present to your audience but we are lied to , BS-ed, snowed over and we actually accept be defrauded at the grandest scale ever known on this planet. Like a runaway train we all can’t stop it can we. No matter what we say or do we are powerless to do anything to change this or anything else in America. How does it feel?

10 THINGS AMERICA MUST DO TO SAVE OUR WAY OF LIFE

Election Taxes Economy Energy Healthcare
Deficit Social Security Welfare Congress Culture

Add to those the threat to America and Obama given he was born into a devout Muslim family and converted to Christianity and is being hailed in Europe as the West’s first Muslim born leader. By Sharia Law converting from Islam to Christianity is punishable by death. Will this enrage radical Islamic extremist? Will this put Obama and our nation’s leader in harm’s way?

We have to face the fact that our nation is BANKRUPT! Financially, Spiritually, and Socially. Our cities are crumbling, hopelessness is everywhere, we have created a permanent social underclass, our family values, morals and spiritual compass are being flushed and spinning like in the Bermuda Triangle, denigration of our society from within by urban hip hop, Liberal television, publications and media, fraud, waste and abuse in Washington and an Economic Disaster that we have only seen the beginning of.

We need leadership, a national voice and some guts to turn it around or we will hit rock bottom. Here are simple solutions.

Election. Do not elect an inexperienced Liberal Brand that has “Rock Star” Appeal.
Our way of life is in grave danger and now more than ever we need deep experience in the White House

Our population is sheepish and fickle and largely under educated and ignorant. There will be over $200m spent to convince them that a brand is electable.

Solution: Vote for a box of TIDE instead. It’s a Brand we trust and it cleans things up!

Don’t Raise or Lower Taxes. Don’t Lie about it either!

Economy Bonds are a way to give Americans a savings account and we desperately need to shift from a credit to a savings nation. Use a portion of taxes each year to invest in Economy Bonds. Government can use the money, Citizens can own a piece of America and we bolster every American’s personal net worth and confidence.

Economy. Economic downfall is imminent if we stay the course.

a. Solution. There is an office of Homeland Defense – As a Capitalist Nation whose future rests in World Governments owning America – Shouldn’t we consider an office of Economic Defense – Led by an American CEO to oversee congress and our budget.

b. With America facing spiraling deficits approaching 10 trillion and social security, Medicare, Medicaid and other national programs sure to collapse under the estimated 99 trillion needed to fund and the collapsing economy – isn’t this as critical as the Great Depression or World War II?

c. Solution: consider passing a law to require all pension, endowment, unions, 401k to take 10% of their fully invested portfolios and re allocate the funds into a national trust led by civilians and the Fed to be used only to buy back all US debt and hoarded currency.

Energy. First more than 60% comes from Canada and Latin America and a lot from the US too.
Secure 100% of our natural resources from the US, Canada and Latin America where we can control the sources. 22% from Africa and only 18% from Persian Gulf.

Solution. 100% drilling and everywhere we can – alternative fuels will not be around and usable for years and industry can’t afford to shift overnight. This is a National Security Issues and should be like the Manhattan Project and Great Works program.

Solution. Coal. We have huge stock piles of coal. Get coal into all markets, industry and any area that can use it. Free up natural gas and oil. Gasification and liquid coal should be harnessed immediately.

Solution. Waste. Use all waste facilities to put Methane Gas on the grid quicker.

Healthcare. We are not socialists but capitalists. Until a capitalist program is created that can make money from the under insured or non insured the problem will persists.

The US is broke and can’t afford healthcare for everyone.

The politicizing of Healthcare causes more lies and empty promises

Solution: Choice, competition and profit center.
i. Create a system for the uninsured and underinsured that is profitable. All uninsured will be insured if they perform civic duties 10 hours a week. Like the Great Works Program. For that the US will use its balance sheet, supported by Reinsurance to pay for primary health benefits. 40 hours a month x minimum wage can pay for healthcare.

ii. Commercialize federal and social healthcare systems.

iii. Allow private business to submit business plans to get jump stared by government that address the needs profitably.

Deficit. Our Roman Empire is crumbling and the Visigoths keep buying our DEBT.
$8.7 Trillion and more record deficit years will put us at appx. $10 Trillion by 2010

Social Security and Medicare/Medicaid own large amounts of the 52% owned by the US. Moving money from one broke hand to another is disastrous.

Solution: Require Pensions, Endowments, 401k managers to allocate 10% of their fully invested portfolios into a pool to buy back all debt and currency.
Social Security. Broke and owns a huge portion of US debt.

It’s broken stupid and broke. No way can it pay people in the future although they paid into the system. That is STEALING and FRAUD!

That class of consumer not being paid and all the lawsuits will tear an entire generation’s contribution to retail and services right out of the GNP.

Solution: Replace Social Security with 100% IRA accounts and contribute 5% of tax revenue into accounts for every American. Take the balance of all accounts and invest the money in the Market and arbitrage the returns.

Welfare. We are an entitlement nation not a working nation anymore.

Solution: Anyone on Welfare or Food Stamps must work 15 hours a week in civic duties.

Solution: Anyone on Welfare must attend a works program 15 hours a week to learn new skills and increase core education

Solution: Anyone on Welfare must submit to drug screening

Solution: Anyone on Welfare with children must have children attend and education works program and risk being thrown out of Welfare or in jail if more kids are born to them until they are stable.

Congress. Congress is self governed although they pass laws to govern all other industry and executive behavior.

If the US was a company its executives and board – in this case many lawmakers would be in jail.

Solution: Govern Congress and the Budget. If Congress is overseen by a civilian group and all monies spent has to pass through a civilian and FED board then the special interests and other lobbyists would fail to have influence and fraud, waste , pork and abuse would be governed.

Culture. Our culture is decadent, weak and a mess. From Aquarius and Hip Hop the decades show our social denigration.

Solution: All kids age 18 must spend 1 year in the Peace Corp, Military, National Guard or other Social Works Program

Solution: All kids upon graduation from college or high school (if not attending college) must spend 15 hours a week providing community services for 18 months.

Solution: Mentoring System. Elderly to middle aged, middle age to adult, adult to teen, teen down through every class.
i. Children of every age in school must be responsible for a child one grade below as every adult of every age be responsible for someone in their community younger than them.
ii. Wisdom classes in grade school and high school and college. Taking life lessons from the elderly and the terminally ill and creating course work for our children to see the big picture.

ECONOMIC PROZAC: HOW TO AVOID ANOTHER GREAT DEPRESSION

Rita Cosby unites Bill Glynn with Ross Perot on how to avoid the American Economic Disaster

Rita Cosby hosted Ross Perot and me on the Steve Malzberg show Friday. The Economic Crisis, political pandering and empty promises topped the list. America is teetering on the brink of another Great Depression while politicians and political parties pander for votes from the largely under educated ignorant voters in America. Even The Washington Post over the weekend released a story about the economy and correlated the Great Depression indicators to where we are today. Does anyone see we have a National Security Crisis on our hands, being eaten by cancer as our society is further denigrated, and the political parties offer nothing more than some Prozac to cover up the looming depression? I don’t just RANT so please read on or go directly to LIBERATION DAY to get right down business!

America faces one of the most challenging and potentially devastating crisis’s in our short history. Despite the facts, politicians and parties still pander, promote empty promises and stuff the talking points d’jour down our throats with hundreds of millions of dollars being spent creating and marketing their brands. America is in big trouble and as usual I predict we will wait until the devastation occurs instead of going on a massive offensive. This nation needs to mobilize every tool in the shed as if World War III: An Economic War was upon us. Frankly it is.

We can all point the finger, lay blame and talk from the arm chair. In the end here are facts:

You are Making it Happen!

You are Watching it Happen! Or

It is Happening to You!

Where do you think the majority of our leaders and people are today? Yes, watching it happen to them.

There is no easy cure for a debtor nation’s woes but worse no one is prescribing a solution to the looming issues that can destroy our way of life. It sounds harsh and I believe America will survive the plunge but what will America look like after the fall of Rome? Where will our ego and standing in the world wind up? Most importantly what can be done about it to minimize the Tsunami coming after the waves of chaos that have already struck.
Well here are some points to ponder and real solutions not rhetoric to think about. Let’s call it Psychotherapy not Economic Prozac.

Our Government just put itself on the hook for trillions of dollars of loans. TRILLIONS! The Federal government stepping into the free markets in such a major way is unprecedented. What can be done because our government will face more and can’t pay for what they are on the hook for already? ARE WE BANKRUPT YET!

The government deficit is criminal. Bankrupting our nation should be treason. We are vulnerable to major nations cutting our credit off like banks are doing to consumers. Our nation is now a risk to invest in and our currency is losing its footing as the underpinnings of world trade.

The banking collapse is still coming. We haven’t seen the other shoes dropping yet but there will be many as $700 billion or so is still out there and only about $300 billion written off so far.
The Lawmakers and consumers are credit alcoholics and are being forced into rehab. This will cause the woes to spiral as American consumers will not be able to consume because banks are cutting them off. The impact to retail and services will be horrifying.

The insurance companies, re insurance companies, Ford, GM, Merrill Lynch, Bear Stearns, on and on are either in huge trouble, being bought by foreign companies and nations or on the brink of collapse. We have only begun to see the meltdown.
So what do we do about it? I offer solutions and none include raising taxes or lower them!

LIBERATION DAY

THE SILVER BULLET: I have and will keep presenting the 10% solution, a law that will require 10% of the fully invested portfolios of pensions, Union Taft Hartley, 401ks, Endowments, corporate investments that combined are well over $100 Trillion, be re allocated into one pooled investment vehicle managed by the biggest guns we have; i.e. Pete Pete Peterson, George Russell, Ross Perot, Michael Bloomberg, Donald Trump, Carl Icon, Hank Greenberg and so on, perhaps aligned with the Fed. 100% of the Trillions will be used to buy back ALL US debt. Buy back hoards of currency to save the dollar and bring our nation back from the brink. Liberation Day! The Day America freed itself from the grips of foreign nations. The added trick is that a trillion dollar investment from the pool to buy zeros coupon bonds will assure that the money will be fully paid back at the end of the investment and huge liquidity is injected into the failing credit markets. (Zeros are bought at a discount say 200 dollars and mature at a 1000. Therefore the money borrowed is guaranteed to be paid back.)

THE PORTFOLIO VALUES AS A RESULT WILL SKY ROCKET!

Economy Bonds: How do we save the economy while transforming our credit addicted nation back into a savings nation? Allow only Americans to buy economy bonds. Like War Bonds, the bonds need to be sold and promoted to everyone at every level and become part of a tax investment program aimed at strengthening the economy, requiring Americans to invest in our nation, become savers not borrowers and position social security supplemental or replacement accounts. Use tax dollars owed can be used to have a guaranteed amount in savings while not depleting the government tax revenue. Every American will have investments and savings.
Like an IRA and a tax break, give Americans economy bonds instead of lowering taxes.

FIRE IRRESPONSIBLE LAWMAKERS: If America was a company our leaders would be in Jail for all the pork, fraud, waste, abuse of power, and for bankrupting our nation. Yet despite the outright vile behavior and record low satisfaction levels the “SELF GOVERNED” law makers remain in position to make decision that affect our future. How the heck did America get to the point where this is happening! Laws have been set across the SEC and Corporations for ethics, accounting, rules of behavior – yet Lawmakers remain way out of bounds and don’t adhere to anything but their self governance and self imposed standards.

Office of American Financial Security

The American CEO: Never elected in and out of office but can be fired. The CEO and is staff oversee the budget, oversees investment, trade deals, currency hoarding and printing, and all fiscal parts of our government. Here is where Ross Perot would be our man. We set up an Office of Homeland Security, Why not an Office of American Financial Security – we are after all a capitalist country and we are under threat of Economic War.

Fraud, pork, special interest, waste, abuse etc..: Manage the budget and lawmakers and make sure none of this can ever permeate our system. Take away the ability to spend our money like drunks and see how fast special interests lose interest!

Commercialize Government: Look how good it did for the postal services and Dept of Commerce in Virginia. You want our government to serve you then get the fat, the poor customer service, leadership and outright incompetence out! Make everyone accountable and be subject to the same rules that apply in business. We are a capitalist nation of course.

Halt credit bureaus: For last 12 months clean any payments under 90 days off the credit bureau reports. You want to provide relief then allow people to get future access to decent home loans and car loans etc.. or as mentioned earlier don’t and see huge parts of our economy no longer participating in consuming.

Post deficit: if we can pull off a pay down of the deficit then all trade deals and interactions financially with the UN, World Bank and all nations should immediately be brought under one financial team made up of super stars again and get our nation back on top in the world.
Raise taxes on all non US produced goods: It will create an economic war among nations but we couldn’t come out behind because most of the world sells their products to us and don’t buy ours as much – hence the trade imbalance. The outcome in my opinion will be hugely positive to the US but not without pain.

Finally but certainly not all: Get our education system corrected by commercializing public schools. Find unique and inventive ways to clean up the programs and the system with one huge revolution and use any means commercially – branding, slotting for products, marketing and ad revenue, whatever it takes to attract the brightest and best teachers and to change the massive downturn.

Suffering from cancer – eroding from the inside is how Rome Fell! Political inaction and denigration of our society assures that America will follow.

There are many more good ideas out there but I fear lawmakers and incompetents have such a hold on power in the US and we as people are completely impotent that we will be bankrupt and our way of live devastated in my lifetime.