The future of the Boston Red Sox
Monday, September 29, 2008
Attack of the Sox Vol. 1 Issue 2
The future of the Boston Red Sox
Sunday, September 28, 2008
Dear Diarrhea: The Joys of Skype
Debates Round 1
Obama 51% McCain 38%
Who Would Better Handle Economy? Obama 58% McCain 37%
Who Would Better Handle Iraq? Obama 52% McCain 47%
Who Did the Best Job In the Debate?
Obama 51% McCain 38%
Who Would Better Handle Economy? Obama 58% McCain 37%
Who Would Better Handle Iraq? Obama 52% McCain 47%
From Fox News:
And when conserative web sites like The Pundit Review and National Review Online call it a close win for John McCain then you know something is wrong. Both reviews seemed deeply upset by McCain strategy, but being consertative still gave the nod to McCain......barely. Their is a lot of work needed to be done by John McCain in the next week and a half. Somehow he has to hope Sarah palin does not screw up his campaign anymore then she already has with three simple television interviews and he has to prepare himself to have a clear victory for the October 7th town hall debate.
Tuesday, September 16, 2008
Issues: Social Security
Social Security. My arch enemy. For years I have looked at my beloved pay check wondering where all my hard money goes. I knew who you were SS. I even knew most of what you did, but I had heard the rumors. The rumors that all this money I was giving to you would never be seen by these eyes again. Now I finally get of my ass to figure this out. What are you really? Are the rumors true? Finally, what if anything, will be done about this system by the two men running for the White House?
Social Security is a program signed into law by President Franklin Roosevelt in 1935. It has changed a lot through the years, but the basics of the program remain the same. We the people are taxed directly from our paychecks and all the money is put into a fund nicknamed the "federal old-age, survivors and disability insurance." Its like a little savings fund the government forces on us in case we have a rainy day. Don't let my language mislead you. Forcing us into action on something like this is actually a good idea. I am horrible with my money and it is nice to know that my hard earned cash will be there when I get older or when doctors finally admit that I am mentally disabled.
Anyway this fund covers me for when i want to retire (the retirement age of course being set by the government babysitting my money) or if I become disabled. If I die the money will go to my wife (that I dont have) or my children (that dont know I exist) and all the accumulated monies are invested in treasury securities. It is apparently against the law for this money to be invested into the private sector like Wall Street. Thats not a joke, the money can only be invested in government securities instead of taking a chance on a high rate of return on wall street or other private sector investments.
If that were not enough that very same government our funds are invested in can, and does, reach into this social security surplus when it needs some extra cash by replacing it with government bonds. Basically imagine you are a small child trying to save up your allowance money to buy the newest super soaker gun (man I loved those things) so you can out duel the neighborhood kids. Only daddy needs a case of beer and all of his money is wasted somewhere else so he opens your money jar, takes out your money and replaces it with a little piece of paper with I.O.U. written on it. Thankfully every four to eight years mommy gets smart and gets a new daddy. However, this new daddy needs money for his crack cocaine and the whole freakin process starts all over again. Suddenly you wonder if you will ever see that fancy new super soaker. Fun fact: in 2007 the social security surplus fund held 2.2 trillions government bonds i.e. daddy's I.O.U.'s
The final kick in the balls from this shoddy operation is that the social security tax is only taken out of the first 102,000 thousand you make. So thankfully after that 102,000 all the rest of my money is.....awwwww, fuck. Never in my days did I ever dream of hitting it big so that I could make enough money to stop paying social security. I wanted to make mucho money to have golden super soakers and be comfortable in life. Sadly I doubt I will ever come close to that $102,000 threshold. So if a person stops paying at $102,000 they get less benefits right? Nope. The upper class pays less into the system and makes the same benefits of the middle and lower classes who need the money more.
More controversy comes from those politicians in the government who think we would benefit more by privatizing the program. There are many different ideas on how to do this, but the simplest way seems to be making it like a 401(k). A 401(k) is already like privatized social security. If your job has it as an option and you choose to take it, then a portion of your weekly paycheck will go into a 401(k) account. This money is invested in stocks, bonds, money markets or a mix of anything you want. You are the one who usually chooses how the money is invested. None of this money is taxed until after you decide to remove it from the fund.
Barack - He strongly opposes privatizing social security and wants to fix the payroll system so that it applies to more then just the first $100,000 a person makes. I believe I read that he would increase the cap to $250,000,but don't quote that number. He has also said that he will work with congress to get a new reform package on the books that will keep the program healthy for at least the next half century.
note - many people attack Obama because they feel he wants to raise taxes. In fact by removing the social security tax cap there will be a 1.3 billion tax increase. However since anyone making under $100,000 is already putting in the full amount they can, then this tax would only affect people with incomes greater then $100,000. So the talk of him taxing the middle classes in this case is false.
McCain - He advocates supplementing the social security benefits with individual investment accounts and prefers slowing the growth benefits to raising the taxes.
My View - I am not much of an economist and I have not seen a serious plan from either one of the candidates, but instead just quotes on what they would like to do. Like I said above their are many different ideas on how to privatize and I don't have the first inkling on how McCain's plan would work. Hopefully we learn more during one of the upcoming debates. Having said all of that and read all I have on this subject i would personally vote to privatize social security. The program is not working in its current state, its not making enough interest as it could on the private market and quite frankly its my money and I should be able to invest it how I please. Every week workers in this country pay into social security and many of them also pay into 401(k) accounts. The government should be able to find an intelligent plan to combine these two systems while still insuring our money that is invested just as I described last week with my housing blog. Why the government will insure investors in the housing market, but not insure our social security benefits is beyond me. Obviously the hardest part of this would be the change over. I am not sure how it would be done or if it could be done, but I am willing to listen to ideas on privatizing more then I am willing to listen to ideas on how to fix a failing pyramid scheme.
Obama - 2
McCain - 1
Monday, September 15, 2008
Attack of the Sox Vol. 1 Issue 1
The Story of the Bitter End
Hey i, boy, Im still alive
Hey i, i, i, Im still alive, yeah
Ooh yeah...yeah yeah yeah...oh...oh...
Sunday, September 14, 2008
Summer/Fall Movies
The films I saw this past summer with a quick review:
Thursday, September 11, 2008
Issues: Housing
So basically regular folks with good standing credit go to the bank ask for a loan and get money to buy a house. The homeowner gets a loan with a fixed rate of interest so that our economies constantly changing interest rate wont drastically change what they owe the bank each month. However because of these fixed rates their is a possibility the bank's will lose money on the loan depending on where interest rates fall. Because of that, bank's look to insure themselves by selling bonds to investors. These bond's insure the bank against any lost interest or in the case the homeowner is unable to make payments.
The Federal National Mortgage Association (Fannie Mae) and the Federal Loan Mortgage Corporation (Freddie Mac) are both government sponsored, stock-holder owned corporations that deal with the buying and selling of mortgages and their bonds. These two companies provide insurance to investors who buy bonds from banks. If a homeowner defaults on a loan (which has been sold to an investor via bonds) Fannie Mae and/or Freddie Mac will swoop in an buy the bonds from the investor. This insures that their is no risk for the investor. The two companies own about half of the thirteen trillion dollar mortgages in this country. They make their money by charging a fee for this "insurance". This system helps to make sure their is a supply of money for mortgages and home purchases so the housing market never stops.
So what caused the problem? The main instigator appears to be the sub prime mortgage crisis. Sub prime mortgages are given to people who do not normally meet the requirements of a regular mortgage loan. People with low income and bad credit for instance. There was a surge of these mortgages all over the country, but the main problem came from deceptive loan practices. These sub prime loans looked good to homeowners because of a very loan interest rate. Most of them however were not fully informed that these were what are called adjustable rate mortgages. Meaning the loan starts with a a very low "introductory" interest, but will reset to normal or higher mortgage rates after two years. Once these rates jacked up many homeowners were not able to keep up with the loans and fell behind and were foreclosed on.
Because these sub prime loans became a huge sell, demand for houses went up drastically and with all supply and demand situations the price of houses skyrocketed. It was a seller's market and people were buying left and right. On top of that people who already had normal mortgages took advantage of the increased price of their house by re-financing them at a higher rate and taking out a second mortgage. This second mortgage was extra cash for these folks and they used the money for just about anything.
Then the federal interest rate increased and sub primer's 2 year introductory rate ended. Like dominoes everything began to go wrong. Homeowners (both sub prime and normal due to re-financing) could not keep up with their bills. Loans stopped being paid and houses began to get foreclosed on in record numbers. Banks who had loans that were not insured by bonds began to lose money and some went out of business. The loans that did have bonds began to pinch Freddie Mac and Fannie Mae. The two businesses were starting to not be able to keep up. They were quickly running out of money and many people speculated they would go bankrupt.
If those two companies went bankrupt they would not be able to insure the investors who bought all those mortgage bonds. The American economy would go spirally out of control. If you thought the economy was slowly headed in the wrong direction before then this would put us at about 80MPH towards the wrong direction. Just a few days ago the federal government stepped in to save Freddie Mac and Fannie Mae. They took control of the two companies and the $5 trillion home loans they insured. The Federal Housing Financing Agency will run these two companies until they are both on better footing.
Barack - He proposes a $10 billion fund to help prevent foreclosures and would eliminate taxes and fees for families who must sell their homes. People who are in danger of being foreclosed would re-finance loans that would be insured by the Federal Housing Administration. In addition he would boost funding for law enforcement programs aimed at housing fraud by $40 million and establish new criminal penalties for professionals found guilty of fraud. He would require lenders to report suspicious or fraudulent activity and would establish a database of disbarred mortgage professionals.
McCain - Give homeowners a chance to have their loan modified provided they meet certain criteria. He believes a government bailout should be a last resort. He would create a justice department task force that punishes individual's or firms that defraud innocent home owners or forged loan applications. He would also assist state attorneys investigating abusive lending practices and improve transparency in the lending process so potential home owners know what they are getting into.
My Take - On the justice side of things I think they are both very close with their plans. I actually have to stop and wonder why it took the government this long to punish dealings like this and to find a way to prevent situations like this. Having said that it is Barack's plan that I have to give a point to. I don't believe the government should have a hand in everything, but one of those things they should be there for is crime & punishment. The government should not have been blind sided by fraud on this level. I understand McCain's point that a bail out should be a last resort. The governemtn should not be there to baby us everytime we make a mistake just as we should not baby our governemnt when they make mistakes. However in this case I believe there is blame to go all around. Nobody did their jobs in this matter and I believe from what I have read and seen that this is the time for last resorts. There should already have been safeguards in effect and the plans of both candidates sound like something that should have already been common sense. Its Barack's plan that does the most to make up for this mistake. It does the most to make up for these mistakes. Its does the most to insure the economy can get back on its feet quickly.
Tuesday, September 9, 2008
Issues: Cuba
Cuba: Should the U.S. lift its embargo on Cuba?
Before Fidel Castro took over Cuba the United States and corporations owned by Americans owned over 40% of the land in Cuba. When Fidel and communism took over in '59 they passed The Agrarian Reform Law which allowed expropriation of all land holdings. Basically Cuba was taking its land back for its own people whether the actual owners liked it or not. Of course the U.S. were the ones who did not like this nor did they feel the compensation Cuba offered was good enough for the amount of land they lost and money they would lose. On top of that Cuba was starting to become closer partners with U.S. cold war rival Russia.
On February 7,1962 the U.S. imposed an economic, commercial and financial embargo on Cuba. Basically they prohibited America and its businesses to trade or deal in any form of commerce with Cuba. In 1992 America passed the Cuban Democracy Act because they felt Castro's government (which was dominated by its military) was violating the freedoms of its people. The act fined any business that went into Cuba and forbid all travel to the island. On top of that the act promised that any other country who provided aid to Cuba would risk losing aid from the U.S.
In 1999 Bill Clinton modified the embargo by forbidding subsidiaries of U.S. companies from doing business with Cuba. Basically American companies had found a loop hole by creating a sister company (subsidiary) in another country then had that new company make dealings with Cuba. So if I had a company called Rawson Inc in America and created an offshoot in Mexico called ....I dunno....The Jim Gray Eats Babies Company they could then legally deal with Cuba until this new modification by Clinton. He did, however, allow sale of certain items to Cuba for relief.
Most of these embargoes have been put in place with the assumption that when Fidel lost power or passed on that things would change in Cuba. However when his health began to decline and he stepped down from power, his brother Raul was elected president. Raul has promised changes, but it seems to be talk more then anything else.
The embargo of course has had its fair share of criticism. Most people believe that the embargo hurts the people more then it does the government. The food shortages that have plagued the country for many years now were blamed (by the U.S.) on the fall of communism and the end of the USSR back in the early 90's. However most people believe that it is the embargo itself that has caused the food shortages and The United Nations has claimed the embargo is a violation of international law.
McCain - John McCain has said he will keep the embargo and not allow economic aid to the island. He will push the government into freeing its political prisoners and push it to democracy . He wants to see Cuba adopt free speech, free media, allow labor unions and begin internationally mandated elections. McCain says he supports the Cuban peoples quest to be free and he would continue to fund radio support to talk directly to the Cubans.
Obama - Barack Obama would not lift the embargo until Cuba begins to democratize itself, but he would meet with Cuban leadership to discuss matter in a hope to at least normalize relations with the island. He would also allow family travel and remittances to the island.
Notes - Obama has been accused of flip flopping on this issue. In 2004 he said he would lift the embargo completely. It is important to note that issues like this change like the weather. Anything can cause a difference in opinion on foreign matters even in just 4 short years. The election of Raul Castro to the Cuban presidency soured many people on the idea of lifting the embargo. It is also important to note that during the 2000 election, while running against George Bush during the Florida primary, John McCain said he would lift the embargo and talk to Cuban leadership.
My View - I believe that after over 40 years of this embargo it is clear that it is not working. It has only oppressed the people of Cuba even more than its government has. The government of Cuba will take what little goods it has for itself and the leftovers will go to its people. Its not that Cuba is totally oppressing its people anyhow. They actually have a better health care system then the U.S. currently does. If the U.S. wants the people of Cuba to revolt it is clear that the embargo will not help that happen. On top of that Russia is quickly regaining its strength, power and money. It would be smart to make peace with an island that is only 90 miles away from American shores before the Russians start giving money/aid and decide to make it a base again. Plus we need the points with the U.N. and the rest of the world.
So....point Obama.
Its The End Of The World As We Know It
Somehow my good friend Nik discovered this so-called blog (probably when I was bitching about how insulting McCain's Country First slogan is) and added it to his blog roll which has pretty much forced my hand. People can click on that link and realize how lazy I am since its never updated or I can fool the world (as its known to Nik's blog) and actually start writing in it. Why not just delete it you ask? Well, what if I get bored again? Plus I really am that lazy.
Too lazy to write more blogs? Nope. I am too prideful not too. Nik has thrown down the gauntlet by challenging my laziness. I will not be called lazy by anyone but me! So here it begins: an onslaught of my thoughts and opinions that you never asked for and that you will wish you had never read.
What will you see on here? Random musings of my inner thoughts or long rambling rants from my inner asshole. You'll see many a report on my beloved Red Sox, but in the year 2008 you will read nothing about the New England Patriots since their season has been officially canceled. You'll get my crazy views on politics and world news. You'll see my photography and I'll introduce you to my inspirations and heroes. I might even introduce a feature that goes into my Google obsession/love.
There will be days you might expect me to update and I don't. Deal with it. There will be days where I will be too tired or drunk or pissed to edit these writings. Deal with it. There will be days I insult something you love or tell you how much I love something you hate. Deal with it. Get off your own ass and write your own blog. Feel free to comment, but if I dont give a shit about what you say go cry on someone else's shoulder. Finally, enjoy this while it lasts because you never know when I will become too lazy/busy/apathetic to do this anymore. It could be next week it could be my next life. I hope you enjoyed the peace and quiet while it lasted. If you need to blame anyone then blame it on Nik and his not so random thoughts.