Mark???¦??s Column ~ Dancing Through the Waves of Finance (The Weekend Edition) . . .
I hope you are all having a great end of the week. The week???¦??s end is a tough time to report. It is very difficult to acquire information. Nonetheless, there are plenty of things going on out there that are good to report on. In fact, with the advent of the Internet, news can be thwarted forward long before the mass media ever figures it out. We will stay focused on finance and the economy with this column. I???¦??m telling you one thing right now, there are serious changes coming forward on both items.
There is no control in spending with our government (and our tax dollars), we???¦??ve already determined that. Just look ~ http://www.usdebtclock.org/. It doesn???¦??t take a genius to figure it out. Look, this nation is gaining debt quicker than at any time in American history. It???¦??s not going to stop. The question is how can it be halted and/or turned around? Guess what? It???¦??s nearly impossible to even ponder paying off the debt accumulated by the fools we have in office. At the rate that debt is accumulating without revenue coming into the system for payment of the interest on the debt, this battle cannot be won. Granted, there are ???¦?hidden taxes???¦? that are coming in on all angles. Travel expenses, fuel, electricity, food, licensing fees, insurance. They are all coming in on a massive scale. Credit card interest rates are skyrocketing. Do you think the government cares about that? No. They don???¦??t. They don???¦??t have to. The people who took out LOC loans are the ones that need to worry.
Going here will give everyone a great idea of where we are headed as a nation:
Let???¦??s take a look at what is going on now in the financial community. It will be important to take a look at what is going on with Spain and Greece. What is happening in Spain is going to change the look of the entire European Union. That, in turn, will change the banking systems of the United States of America.
Let???¦??s take a short break for a ride on a boat. This song was written by John Denver to create money for the Jacques Cousteau Society. We all know John died in a plane wreck in 1997. We also know that Jacques Cousteau was a sea voyager . . . http://en.wikipedia.org/wiki/Jacques_Cousteau. Let???¦??s get started on our voyage. Like always, go and get a drink of your favorite beverage while we get started. Turn up the music ~ you will see why, later . . .
John Denver ~ Calypso . . . http://www.youtube.com/watch?v=vl7aM3nCqC0
At the present time, it appears that Spain will default on their obligations to pay off their debt. Germany can???¦??t afford to bail them out right now. They can see what is coming over the horizon. The risk is too high. Greece, as mentioned in a previous column has gone to bartering with silver. Italy is going to go down as well and the United Kingdom isn???¦??t far behind. In short, the European Union is collapsing as fast as the Euro (currency). How does this affect the United States? Guess what, the members of the EU are the countries that purchased our debt. Of course China is another big one that has purchased our debt. The numbers are all posted right here so that I can provide reference for those that care to dip into this issue a bit further:
Many people may wonder why they should look into these issues any further. Guess what? When the EU goes down the EMU will go down, and the USD will be on its???¦?? way to purgatory. This is no joke. I can guarantee you right now that the extremely wealthy are grimacing at what is taking place. Warren Buffett did make a good call on derivatives. He has an innate ability to call the market. Although he was recently diagnosed with colon cancer I have a feeling he has Berkshire Hathaway set up quite fine for continued success. It does, however, look like Charlie Munger may be up on deck.
Let???¦??s take another break for a song. I met this fine musician when I was backstage at a concert at Opryland in Tennessee. I believe it was Brittany Allyn that introduced me to Roger Eaton who later introduced me to Lorrie Morgan via a guitar produced here in Logan, Utah by Kevin Moore.
Lorrie Morgan ~ (Singing a song by the Beach Boys) . . . Don???¦??t Worry Baby
Okay, now, here???¦??s the thing. The currency system in Europe is collapsing. The dollar will assuredly collapse at some point thereafter. Our nation sold our debt to foreign nations whose currency is collapsing. As the EMU collapses and the dollar follows, how are we going to pay those who purchased our treasury bills? Things aren???¦??t looking so swell in China and Japan, as well. Spain, however, is much worse. Spain is in real big trouble. How does this effect LOGAN, UTAH? Well, we???¦??ll check this out in just a moment.
Sometimes the waves of the ocean really don???¦??t matter. It is when we reach for the sky that matters.
The Commodores ~ Sail on . . . http://www.youtube.com/watch?v=zg-ivWxy5KE&NR=1
Each individual that pays taxes should know where their money is going. There should be an itemization of allocations of funds produced by each individual taxpayer that is put on paper and provided to the individual who paid the tax. Just say for instance you pay 10,000 dollars in taxes for the previous year. You hear about banks being bailed out, foreclosures on properties, and worthless wars overseas. You hear about hungry children. You hear about cities in the United States going bankrupt because there isn???¦??t enough tax revenue coming in to support their needs to keep the schools in operation and the highways in condition for locals to make it to and from work. Gas prices are going up, wages are going down. You are paying higher taxes on gasoline, in case you haven???¦??t noticed. Where is your money going when bankers continue to get bonuses and people who are trying to work continue to lose their homes?
The American people should be able to determine where the money being taken out of their paychecks is going. If we???¦??re going to pay the taxes, we should choose where the money is going and then be provided with confirmation revealing evidence that our money went to our preferred allocation.
I doubt any of us would support overseas ventures that haven???¦??t proven successful at all. In fact, if Americans could decide where their funds were going, we wouldn???¦??t have wars overseas. We need to get our troops back to America and get the reigning sociopaths from wherever they came from, out of office. What is happening is just pitiful.
Let???¦??s end this column with a little hope. I never met Lee Ann but I hope this song will make some sense to all of you. We have the power to make change. The people who have the skills to stand up against the crap that is going on right now need to take a stand for those who don???¦??t. Those who don???¦??t have the power need to support those who stand up and do have that power. It???¦??s a simple concept and one that needs to be followed right now! We???¦??ll end with this song. . .
Lee Ann Womack ~ I Hope You Dance . . . http://www.youtube.com/watch?v=RV-Z1YwaOiw&ob=av2e
Well that???¦??s it for the weekend edition, my friends. What to focus on right now are events in Spain and Italy. Greece is gone. Iceland has already taken care of itself. The UK is in trouble but should hold on for a while. We???¦??re going to see a crisis happen in May when the NATO meets in Chicago. Look for a lot of uncomfortable things to happen in those streets. With the exposure coming from the Internet, I do not see how that event is going to turn out very good. Particularly when warnings are out for the people residing within the buildings to leave their apartments during the forthcoming meetings or risk being barricaded for three days inside of their complexes.
Until next time ~ Peace be with you all, always and in all ways . . .
Graduate from Utah State, Penn State and UC Irvine Universities