Saturday, January 5, 2013
The Late Great Jim Valvano: Cutting Down the Nets (1987)
Thank You McCall72 from Youtube
As explained by McCall72 - A speech delivered by the late great Jim Valvano the then head coach of the NC State Wolfpack circa 1987. I've had this in my possession for a good long while. This speech was giving at the 1987 Million Dollar Round Table annual meeting.
Friday, January 4, 2013
Newsletter about the City Council meeting of January 2, 2013
This newsletter is about the Hickory City Council meeting that I attended this past week. City council meetings are held on the first and third Tuesdays of each Month in the Council Chambers of the Julian Whitener building.
At right of this page under Main Information links is an Hickory's City Website link. If you click on that link, it takes you to our city’s website, at the left of the page you will see the Agenda's and Minutes link you need to click. This will give you a choice of PDF files to upcoming and previous meetings.
You will find historic Agenda and Minutes links. Agendas show what is on the docket for the meeting of that date. The Minutes is an actual summary of the proceedings of the meeting of that date.
Here is a summary of the agenda of the 1/2/2012 meeting. There were a couple of important items that were discussed at this meeting and the details are listed further below:
Please remember that pressing Ctrl and + will magnify the text and page and pressing Ctrl and - will make the text and page smaller. This will help the readability for those with smaller screens and/or eye difficulties.
All materials and maps for this meeting are provide at this link:
City Council Action Agenda - January 2, 2013
Invocation by Rev. Deacon Barbara Burns, Episcopal Church of the Epiphany
Consent Agenda:
A. Approval to surplus 2,231 Discarded Library Materials so that these materials may be given to the Friends of the Library to be sold at the Friends “Corner Book Store” at Patrick Beaver Memorial Library. The sale of donated and discarded books is the primary fundraising activity of the Friends of the Library and discarded library materials comprise a significant portion of their inventory. The sale of these items ultimately benefits the library, and is an appropriate means of disposing of unneeded materials. Public Notice advertised on December 21, 2012 in a newspaper having general circulation in the Hickory area.
B. Approval to Declare as Surplus eighty-four (84) Scott AV-2000 Masks that can be utilized by other public safety agencies. In 2003 Scott Safety redesigned their Self Contained Breathing Apparatus (SCBA) masks which improved the facial fit to the wearer and the voice amplification system. The fire department purchased the new mask (AV-3000) for all fire suppression members. The AV-2000 masks that were replaced by this new mask were taken out of service and put into storage. The City of Hickory Fire Department has received requests from Hiddenite Fire Department requesting (20) twenty AV-200 SCBA Masks and a request from Stewart-Simmons Volunteer Fire Department for (25) twenty-five masks. The currently value of each mask, per the manufacturer, is approximately $50. This request is to donate the masks to departments that request the need. Public Notice advertised on December 21, 2012 in a newspaper having general circulation in the Hickory area.
C. Approval to Purchase Six Specialized Police Package Emergency Vehicles. - Hickory Police Department request approval of the purchase of six rear wheel drive Chevrolet Caprice police package vehicles from Bobby Murray Chevrolet on the North Carolina State Contract at a cost of $27,458.60 per vehicle and a total cost of $164,751.60. The police department has funds budgeted in 2012-2013 CIP for replacement of police vehicles.
D. Approval to issue a pyrotechnic display permit to Hickory Crawdads. - The North Carolina Fire Code requires a mandatory operational permit for the use and handling of pyrotechnic special effects material. The Fire Prevention Bureau shall review all required documentation such as but not limited to the following: Alcohol Tobacco and Firearm’s (ATF) License, Operator and Assistant Operators Permits from North Carolina Office of State Fire Marshal (NCOSFM), Site Plan, and the one million dollar liability insurance policy. The Fire Prevention Bureau will also inspect the pyrotechnics display area prior to the event to ensure compliance with NCOSFM Guidelines, National Fire Protection Association (NFPA) NFPA 1123 Code for Fireworks Display, and NFPA 1126 Use of Pyrotechnics Before a Proximate Audience (if applicable) are met.
E. Approval of 2012 State Legislative Agenda. - Staff has sent to City Council a draft of the proposed 2012 State Legislative Agenda. The NC General Assembly convenes its long session on January 9, 2013. City staff, City Council and City residents and business owners will promote to our local delegation and other members the City’s priorities which will enhance the City’s opportunities for economic growth and provision of municipal services. The Legislative agenda is dynamic and may change as different proposals are discussed by the NC 2013 General Assembly and Executive Branch.
F. Budget Ordinance Amendment No. 10.
1. To budget a $2,000 donation from the N.R.P.A. (National Recreation and Park Association) in the Parks and Recreation Department Recreation Supplies ($1,361) and M & R Grounds ($639) line items. This donation is to purchase basketball goals at Southside Park.
2. To budget $20,000 of General Fund Contingency in the Public Buildings Maintenance and Repair line item. This amendment is to pay for installation of a 125KW generator at City Hall to provide a backup power source. Currently there is no backup power source at City Hall and there is a risk of loss of data if a power failure does occur. All work will be performed by Public Services staff.
3. To budget $9,551 of Assistance to Firefighters Grant Program funds in the Part-Time Salaries ($8,873) and FICA Taxes ($678) line items. This represents the reimbursement to the General Fund for the salary and tax benefits paid for a Part-Time employee to complete the grant funded duties for the smoke detector/carbon monoxide detector installation program.
4. To budget $35,880 of Community Development Block Grant revenues in the Public Buildings General Capital Improvements line item. This amendment is necessary to pay for the parking lot project at the 400 Block of South Center Street. This project will be funded with Community Development Block Grant revenues and the Community Development Block Grant Fund will reimburse the General Fund when the project is complete.
5. To transfer $38,381 of remaining revenues in excess of expenditures related to the Hickory District Court Facility in FY11-12 from the General Fund to the District Court Capital Reserve Fund.
Informational Items
A. Report of Alderman Hank Guess travel to Metropolitan Mayors Legislative Retreat in Raleigh, NC on December 12-13, 2012 (Meals - $34.18; Gas in city vehicle - $36.00; Lodging - $156.72; Registration - $120.00 and Parking - $22.00)
New Business - Public Hearing
1. (3:30) Financing Concept for the Hickory-Catawba Wastewater Treatment Facility Upgrade and Expansion.
New Business - Departmental Reports:
1. Appointments to Boards and Commissions
a) (16;30) NORTH CAROLINA LEAGUE OF MUNICIPALITIES - Selection of a Voting Delegate to the North Carolina League of Municipalities Advocacy Goals Conference 2013
b) (20:40) SUBCOMMITTEE ON CITIZEN INPUT AT THE BEGINNING OF MEETINGS - At it’s December 18, 2012 meeting, City Council established a subcommittee of Mayor Wright, Alderwoman Fox and Alderwoman Patton to “Decide the language for getting citizens input at the beginning of the meeting.” As a duly appointed subcommittee of its members, the meetings will be advertised and open to the public. Council can discuss the process of the subcommittee and establish a time and location for its first meeting.
Previous History on this issue.
Newsletter about the City Council meeting of December 18, 2012 - Cliff Moone spoke once again about the process that has been instituted in relation to allowing Citizens to be heard before votes are taken in relation to second readings, Consent Agenda Items, and Departmental Reports.At the end of the meeting Council voted affirmatively to form a subcommittee to formally put this process, allowing Citizens to be Heard before votes are taken, on the Agenda.
Newsletter about the City Council meeting of October 2, 2012 - Addendum on the CEG proposals - Proposal introduced by the Mayor outside of the constructs of the agenda
Newsletter about the City Council meeting of November 20, 2012 - Cliff Moone addressed the issue of Citizens being allowed the question items on the agenda at the beginning of the meeting. He discussed what occurred at the October 2, 2012 meeting.
Newsletter about the City Council meeting of December 4, 2012 - Cliff Moone addresses the City Council about the Council's new policy odf making a motion to allow citizen's to address the City Council about items on the Agenda. Cliff and all members of the Citizens for Equity in Government feel that the Council is proverbially flying by the seat of their pants on this. Second they are not following proper protocol, because this is nowhere to be found on the Public Agenda, so technically it is a matter not on the Agenda and should by statute come at the end of the meeting after Citizens Requesting to Be Heard, which takes us back to square one. Hickory Inc. wants to say what's the big deal and we agree. Since it isn't a big deal, then formally put in on the agenda and quit with the ruse.
The Hound's Comment:
This was a straight forward meeting that lasted right around 30 minutes. Of course the "Citizens Requesting to be Heard" item is the real issue of the moment. I hold out hope that the Mayor will be cooperative in allowing citizens to speak about items on the agenda before votes take place. It is only a big deal because of certain processes that occurred over the last few years. It isn't a big deal to allow the public to be heard before decisions are made that affect them. It is the right thing to do.
At right of this page under Main Information links is an Hickory's City Website link. If you click on that link, it takes you to our city’s website, at the left of the page you will see the Agenda's and Minutes link you need to click. This will give you a choice of PDF files to upcoming and previous meetings.
You will find historic Agenda and Minutes links. Agendas show what is on the docket for the meeting of that date. The Minutes is an actual summary of the proceedings of the meeting of that date.
Here is a summary of the agenda of the 1/2/2012 meeting. There were a couple of important items that were discussed at this meeting and the details are listed further below:
Please remember that pressing Ctrl and + will magnify the text and page and pressing Ctrl and - will make the text and page smaller. This will help the readability for those with smaller screens and/or eye difficulties.
All materials and maps for this meeting are provide at this link:
City Council Action Agenda - January 2, 2013
Invocation by Rev. Deacon Barbara Burns, Episcopal Church of the Epiphany
Consent Agenda:
A. Approval to surplus 2,231 Discarded Library Materials so that these materials may be given to the Friends of the Library to be sold at the Friends “Corner Book Store” at Patrick Beaver Memorial Library. The sale of donated and discarded books is the primary fundraising activity of the Friends of the Library and discarded library materials comprise a significant portion of their inventory. The sale of these items ultimately benefits the library, and is an appropriate means of disposing of unneeded materials. Public Notice advertised on December 21, 2012 in a newspaper having general circulation in the Hickory area.
B. Approval to Declare as Surplus eighty-four (84) Scott AV-2000 Masks that can be utilized by other public safety agencies. In 2003 Scott Safety redesigned their Self Contained Breathing Apparatus (SCBA) masks which improved the facial fit to the wearer and the voice amplification system. The fire department purchased the new mask (AV-3000) for all fire suppression members. The AV-2000 masks that were replaced by this new mask were taken out of service and put into storage. The City of Hickory Fire Department has received requests from Hiddenite Fire Department requesting (20) twenty AV-200 SCBA Masks and a request from Stewart-Simmons Volunteer Fire Department for (25) twenty-five masks. The currently value of each mask, per the manufacturer, is approximately $50. This request is to donate the masks to departments that request the need. Public Notice advertised on December 21, 2012 in a newspaper having general circulation in the Hickory area.
C. Approval to Purchase Six Specialized Police Package Emergency Vehicles. - Hickory Police Department request approval of the purchase of six rear wheel drive Chevrolet Caprice police package vehicles from Bobby Murray Chevrolet on the North Carolina State Contract at a cost of $27,458.60 per vehicle and a total cost of $164,751.60. The police department has funds budgeted in 2012-2013 CIP for replacement of police vehicles.
D. Approval to issue a pyrotechnic display permit to Hickory Crawdads. - The North Carolina Fire Code requires a mandatory operational permit for the use and handling of pyrotechnic special effects material. The Fire Prevention Bureau shall review all required documentation such as but not limited to the following: Alcohol Tobacco and Firearm’s (ATF) License, Operator and Assistant Operators Permits from North Carolina Office of State Fire Marshal (NCOSFM), Site Plan, and the one million dollar liability insurance policy. The Fire Prevention Bureau will also inspect the pyrotechnics display area prior to the event to ensure compliance with NCOSFM Guidelines, National Fire Protection Association (NFPA) NFPA 1123 Code for Fireworks Display, and NFPA 1126 Use of Pyrotechnics Before a Proximate Audience (if applicable) are met.
E. Approval of 2012 State Legislative Agenda. - Staff has sent to City Council a draft of the proposed 2012 State Legislative Agenda. The NC General Assembly convenes its long session on January 9, 2013. City staff, City Council and City residents and business owners will promote to our local delegation and other members the City’s priorities which will enhance the City’s opportunities for economic growth and provision of municipal services. The Legislative agenda is dynamic and may change as different proposals are discussed by the NC 2013 General Assembly and Executive Branch.
F. Budget Ordinance Amendment No. 10.
1. To budget a $2,000 donation from the N.R.P.A. (National Recreation and Park Association) in the Parks and Recreation Department Recreation Supplies ($1,361) and M & R Grounds ($639) line items. This donation is to purchase basketball goals at Southside Park.
2. To budget $20,000 of General Fund Contingency in the Public Buildings Maintenance and Repair line item. This amendment is to pay for installation of a 125KW generator at City Hall to provide a backup power source. Currently there is no backup power source at City Hall and there is a risk of loss of data if a power failure does occur. All work will be performed by Public Services staff.
3. To budget $9,551 of Assistance to Firefighters Grant Program funds in the Part-Time Salaries ($8,873) and FICA Taxes ($678) line items. This represents the reimbursement to the General Fund for the salary and tax benefits paid for a Part-Time employee to complete the grant funded duties for the smoke detector/carbon monoxide detector installation program.
4. To budget $35,880 of Community Development Block Grant revenues in the Public Buildings General Capital Improvements line item. This amendment is necessary to pay for the parking lot project at the 400 Block of South Center Street. This project will be funded with Community Development Block Grant revenues and the Community Development Block Grant Fund will reimburse the General Fund when the project is complete.
5. To transfer $38,381 of remaining revenues in excess of expenditures related to the Hickory District Court Facility in FY11-12 from the General Fund to the District Court Capital Reserve Fund.
Informational Items
A. Report of Alderman Hank Guess travel to Metropolitan Mayors Legislative Retreat in Raleigh, NC on December 12-13, 2012 (Meals - $34.18; Gas in city vehicle - $36.00; Lodging - $156.72; Registration - $120.00 and Parking - $22.00)
New Business - Public Hearing
1. (3:30) Financing Concept for the Hickory-Catawba Wastewater Treatment Facility Upgrade and Expansion.
New Business - Departmental Reports:
1. Appointments to Boards and Commissions
a) (16;30) NORTH CAROLINA LEAGUE OF MUNICIPALITIES - Selection of a Voting Delegate to the North Carolina League of Municipalities Advocacy Goals Conference 2013
b) (20:40) SUBCOMMITTEE ON CITIZEN INPUT AT THE BEGINNING OF MEETINGS - At it’s December 18, 2012 meeting, City Council established a subcommittee of Mayor Wright, Alderwoman Fox and Alderwoman Patton to “Decide the language for getting citizens input at the beginning of the meeting.” As a duly appointed subcommittee of its members, the meetings will be advertised and open to the public. Council can discuss the process of the subcommittee and establish a time and location for its first meeting.
Previous History on this issue.
Newsletter about the City Council meeting of December 18, 2012 - Cliff Moone spoke once again about the process that has been instituted in relation to allowing Citizens to be heard before votes are taken in relation to second readings, Consent Agenda Items, and Departmental Reports.At the end of the meeting Council voted affirmatively to form a subcommittee to formally put this process, allowing Citizens to be Heard before votes are taken, on the Agenda.
Newsletter about the City Council meeting of October 2, 2012 - Addendum on the CEG proposals - Proposal introduced by the Mayor outside of the constructs of the agenda
Newsletter about the City Council meeting of November 20, 2012 - Cliff Moone addressed the issue of Citizens being allowed the question items on the agenda at the beginning of the meeting. He discussed what occurred at the October 2, 2012 meeting.
Newsletter about the City Council meeting of December 4, 2012 - Cliff Moone addresses the City Council about the Council's new policy odf making a motion to allow citizen's to address the City Council about items on the Agenda. Cliff and all members of the Citizens for Equity in Government feel that the Council is proverbially flying by the seat of their pants on this. Second they are not following proper protocol, because this is nowhere to be found on the Public Agenda, so technically it is a matter not on the Agenda and should by statute come at the end of the meeting after Citizens Requesting to Be Heard, which takes us back to square one. Hickory Inc. wants to say what's the big deal and we agree. Since it isn't a big deal, then formally put in on the agenda and quit with the ruse.
The Hound's Comment:
This was a straight forward meeting that lasted right around 30 minutes. Of course the "Citizens Requesting to be Heard" item is the real issue of the moment. I hold out hope that the Mayor will be cooperative in allowing citizens to speak about items on the agenda before votes take place. It is only a big deal because of certain processes that occurred over the last few years. It isn't a big deal to allow the public to be heard before decisions are made that affect them. It is the right thing to do.
Thursday, January 3, 2013
Hickory City Council Meeting - January 2, 2013 - Video Presentation
The Following is a video presentation of the Hickory City Council meeting of January 2, 2013.
Lower right hand square in the Youtube box takes you to full screen mode.
The big discussion of the night was about the subcommittee consisting of Mayor Wright, Alderwoman Fox and Alderwoman Patton to “Decide the language for getting citizens input at the beginning of the meeting.” As a duly appointed subcommittee of its members, the meetings will be advertised and open to the public. Council can discuss the process of the subcommittee and establish a time and location for its first meeting.
It looks like this meeting will occur on Monday January 14, 2012 at 9:30am. They did not mention where the meeting will take place but it will be a public meeting. This discussion begin at 20:40.
Lower right hand square in the Youtube box takes you to full screen mode.
The big discussion of the night was about the subcommittee consisting of Mayor Wright, Alderwoman Fox and Alderwoman Patton to “Decide the language for getting citizens input at the beginning of the meeting.” As a duly appointed subcommittee of its members, the meetings will be advertised and open to the public. Council can discuss the process of the subcommittee and establish a time and location for its first meeting.
It looks like this meeting will occur on Monday January 14, 2012 at 9:30am. They did not mention where the meeting will take place but it will be a public meeting. This discussion begin at 20:40.
Wednesday, January 2, 2013
Cutting off the GOP Gravy Train
Peter King: Halt donations to House GOP
This is what I have done for the past few years. I have given no money to the GOP. One of the reasons why I haven't given any money is because I don't have it and what little money I do have to give has gone to help the Church and some individual causes.
I received a phone call on Saturday asking for a contribution to "Activate" my GOP membership. I told the guy I wasn't giving them a damned thing. First off, the only reason I answered the phone was because I thought it was a family member, because my family was in town, but if this guy was going to talk it up, then I was going to give him a piece of my mind.
I could tell that he was going over a schematic list... if I say this, then you say that type of thing. The first thing out of his mouth was about the Fiscal Cliff and how we need to beat back the Democrats to get the governments finances under control. I told him the Fiscal Cliff was a joke and we've gone over the cliff long ago. I told him that our party has contributed to this as much as the Democrats. We just initiated and pushed through a $677 billion Defense Authorization Program and how much is Homeland Security costing us? I fully support our troops, but in 2001 I wasn't signing on to wars that would last forever. I feel duped by all of that stuff. Hell, we blow things up to build them back again to blow them up again... How much is that costing along with giving billions to Warlords all over the Near and Far East?
Then he switches and says he understands my anger. Yeah, we need to get some of our guys out of there, how he is AWAKE, but we can only do that by supporting the party. Sounded like Bush telling us how the only way to save the free market system was through policies that interfered with the operation of the free market. I gave him Harry's line about "if you keep doing what you're doing, you're gonna get what you've got."
Can you give $100... Our party was fully instrumental in destroying my community's Industrial base through all of these "Free for All" trade agreements like GATT, the WTO, and NAFTA, why should I support that?
Can you give $50... My party turned a blind eye on immigration and worked with Democrats to allow an influx of people who have helped, along with the one way trade agreements, to diminish my ability to earn income, then they fuss about people not working or being on food stamps. That helps Democrats look good, because at least they say they don't want people being homeless or starving to death. Hey Republicans, why not work to bring decent paying jobs back to America? Then you will have a right to tell people to work or starve. Right now you just come across as apathetic idiots and hypocrites.
Can you give $25... The Republican Party says it is against unions, but they run the party like it's a union. Everybody is supposed to wait their turn and be seen, but not heard. This is as much our country as it is the bigwigs. They aren't going to get that until we show them that. I believe in a Meritocracy. I like the best ideas to come forward... the cream to rise to the top. One of the points of the Contract with America in 1993 was the idea of term limits. The idea that citizens would serve a few years and then go back home to rejoin society as a citizen - to be like everyone else as one of the people. When the Republicans won the majority, this was pushed to the background and rarely heard of again,. The Congress continued with their special salaries, special healthcare, special pensions, and other special privileges and amenities, while most of the rest of society has continued to decline... No I am not going to give you any money to continue on with your party and these policies.
Can you give anything... You don't get it. Back when I was making decent money and expenses were a lot less, I gave you money. That is how I got on this list. I gave you money, because I had it and I believed in the cause and the agenda you were espousing. And you took my money and you worked against my interests, because my money didn't amount to a hill of beans compared to that of the spoiled, effeminate Wall Street and Main Street Nutthuggers. You didn't do what you said you were going to do. I'll tell you what. When you do what you said you were going to do all of those years ago and you accomplish what you promised me and you begin working in my interests (the majority of the working public's interests), then I might feel like giving you some money and better yet, I might be able to afford to give you some money.
Til then GOOD BYE!
This is what I have done for the past few years. I have given no money to the GOP. One of the reasons why I haven't given any money is because I don't have it and what little money I do have to give has gone to help the Church and some individual causes.
I received a phone call on Saturday asking for a contribution to "Activate" my GOP membership. I told the guy I wasn't giving them a damned thing. First off, the only reason I answered the phone was because I thought it was a family member, because my family was in town, but if this guy was going to talk it up, then I was going to give him a piece of my mind.
I could tell that he was going over a schematic list... if I say this, then you say that type of thing. The first thing out of his mouth was about the Fiscal Cliff and how we need to beat back the Democrats to get the governments finances under control. I told him the Fiscal Cliff was a joke and we've gone over the cliff long ago. I told him that our party has contributed to this as much as the Democrats. We just initiated and pushed through a $677 billion Defense Authorization Program and how much is Homeland Security costing us? I fully support our troops, but in 2001 I wasn't signing on to wars that would last forever. I feel duped by all of that stuff. Hell, we blow things up to build them back again to blow them up again... How much is that costing along with giving billions to Warlords all over the Near and Far East?
Then he switches and says he understands my anger. Yeah, we need to get some of our guys out of there, how he is AWAKE, but we can only do that by supporting the party. Sounded like Bush telling us how the only way to save the free market system was through policies that interfered with the operation of the free market. I gave him Harry's line about "if you keep doing what you're doing, you're gonna get what you've got."
Can you give $100... Our party was fully instrumental in destroying my community's Industrial base through all of these "Free for All" trade agreements like GATT, the WTO, and NAFTA, why should I support that?
Can you give $50... My party turned a blind eye on immigration and worked with Democrats to allow an influx of people who have helped, along with the one way trade agreements, to diminish my ability to earn income, then they fuss about people not working or being on food stamps. That helps Democrats look good, because at least they say they don't want people being homeless or starving to death. Hey Republicans, why not work to bring decent paying jobs back to America? Then you will have a right to tell people to work or starve. Right now you just come across as apathetic idiots and hypocrites.
Can you give $25... The Republican Party says it is against unions, but they run the party like it's a union. Everybody is supposed to wait their turn and be seen, but not heard. This is as much our country as it is the bigwigs. They aren't going to get that until we show them that. I believe in a Meritocracy. I like the best ideas to come forward... the cream to rise to the top. One of the points of the Contract with America in 1993 was the idea of term limits. The idea that citizens would serve a few years and then go back home to rejoin society as a citizen - to be like everyone else as one of the people. When the Republicans won the majority, this was pushed to the background and rarely heard of again,. The Congress continued with their special salaries, special healthcare, special pensions, and other special privileges and amenities, while most of the rest of society has continued to decline... No I am not going to give you any money to continue on with your party and these policies.
Can you give anything... You don't get it. Back when I was making decent money and expenses were a lot less, I gave you money. That is how I got on this list. I gave you money, because I had it and I believed in the cause and the agenda you were espousing. And you took my money and you worked against my interests, because my money didn't amount to a hill of beans compared to that of the spoiled, effeminate Wall Street and Main Street Nutthuggers. You didn't do what you said you were going to do. I'll tell you what. When you do what you said you were going to do all of those years ago and you accomplish what you promised me and you begin working in my interests (the majority of the working public's interests), then I might feel like giving you some money and better yet, I might be able to afford to give you some money.
Til then GOOD BYE!
I told you so -- The Fiscal Farce
It is time folks. It is time to decide. Do you want to look in the mirror and see a tool and a fool or are you going to say No More... No More.
Folks, the charades that we have seen have destroyed the Republic. I told you they were going to make a deal and I told you that it was going to be bad. I am not arguing for arguments sake. I understand in negotiations that you have to compromise. I am not an idiot.
What we see is that at a time when we have grown the National Debt by over $6 trillion in 4 years, we are ready to further expand that. Like I pointed to a few weeks ago, you could actually see the National debt balloon to $22 trillion to $32 Trillion in the next 4 years. That is just by extrapolating the exponential numbers that we have seen over the last 8 years.
All it takes to break the dollar is a little blip up in interest rates. If interest rates go back to where they were in 2000, then our economy will be fully decimated. Bear with me.
The Federal Funds Rate
In other words the Fed Funds rate is the Interest Rate at which Intrabank Lending takes place at the shortest term basis (Daily). How much interest you earn or pay on a loan is based upon this rate. How much interest the Government earns or pays is based upon the Fed Funds Rate. It always costs more to take a loan out than you will earn in interest, because of the inherent risk associated with payback.
Today, because of Federal Reserve System manipulation, the Ded Funds interest rate is .1%. If you look back to 2007, that rate was 5.5% and back in 2000 it was 6.24%. Right now we are servicing the National Debt at an interest rate that floats somewhere near this rate through the sale of Treasury notes. When they tell you that they are going to raise the National Debt, that means that they are going to auction off more of these notes to the public Market. Other sovereign governments have been buying these notes (China, Japan, Russia, Saudi Arabia). Your Social Security is invested in these instruments. All of your financial institutions (Banks, Insurance Companies, Mutual Funds, and Pension Funds) are invested heavily in these instruments. And the Federal Reserve is even purchasing these funds from themselves, while this money already essentially has no backing.
All it takes is for one of these big institutions to start selling their holdings and/or demand a higher interest rate to invest and our problems will grow exponentially.
Last year the interest on the National debt was nearly $360 Billion ($359,796,008,919.49). If you round off that our average debt for 2011-12 was $15.5 trillion, then we paid an average interest rate of around 2.3% on the National Debt. What if interest rates were to go back closer to their historical average of around 4, 5, or 6%?
That would mean that we would easily see a doubling of the interest paid annually on the National Debt. That could easily take interest payments up to $700 Billion a year or higher. We are already running annual deficits of over $1 trillion over the past 4 years. If you start adding another $300 billion in interest, then you will never get that number down.
The biggest effect of all of this is that it is debasing the currency. Think of dollars as shares in a Corporation called the United States of America. The more of those dollars that are issued, the less the value of each share, especially when the value of the company isn't increasing.
I can go on and on about this, but what I presented is a lot to ponder. You might think everything is alright, because you have hitched your wagonj to the news media and the politicos. Oh they will tell you how the Gross Domestic Product grew at 3.1% last quarter, but they aren't factoring in inflation (resulting from the debasement of the currency) or the fact that much of that growth is accounted for through government spending paid for by increased debt.
And all the while, they continue on with their games, while kicking the can down the road. There is a reckoning steaming towards us. We're already over the cliff. I believe we are days (if not hours) away from the markets reacting very negatively.
Message to Congressman McHenry -- Get Rid of Boehner! It is time for him to go. He doesn't get it.
Folks, the charades that we have seen have destroyed the Republic. I told you they were going to make a deal and I told you that it was going to be bad. I am not arguing for arguments sake. I understand in negotiations that you have to compromise. I am not an idiot.
What we see is that at a time when we have grown the National Debt by over $6 trillion in 4 years, we are ready to further expand that. Like I pointed to a few weeks ago, you could actually see the National debt balloon to $22 trillion to $32 Trillion in the next 4 years. That is just by extrapolating the exponential numbers that we have seen over the last 8 years.
All it takes to break the dollar is a little blip up in interest rates. If interest rates go back to where they were in 2000, then our economy will be fully decimated. Bear with me.
The Federal Funds Rate
Wikipedia - In the United States, the federal funds rate is the interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets.[1][2]
In other words the Fed Funds rate is the Interest Rate at which Intrabank Lending takes place at the shortest term basis (Daily). How much interest you earn or pay on a loan is based upon this rate. How much interest the Government earns or pays is based upon the Fed Funds Rate. It always costs more to take a loan out than you will earn in interest, because of the inherent risk associated with payback.
Today, because of Federal Reserve System manipulation, the Ded Funds interest rate is .1%. If you look back to 2007, that rate was 5.5% and back in 2000 it was 6.24%. Right now we are servicing the National Debt at an interest rate that floats somewhere near this rate through the sale of Treasury notes. When they tell you that they are going to raise the National Debt, that means that they are going to auction off more of these notes to the public Market. Other sovereign governments have been buying these notes (China, Japan, Russia, Saudi Arabia). Your Social Security is invested in these instruments. All of your financial institutions (Banks, Insurance Companies, Mutual Funds, and Pension Funds) are invested heavily in these instruments. And the Federal Reserve is even purchasing these funds from themselves, while this money already essentially has no backing.
All it takes is for one of these big institutions to start selling their holdings and/or demand a higher interest rate to invest and our problems will grow exponentially.
Last year the interest on the National debt was nearly $360 Billion ($359,796,008,919.49). If you round off that our average debt for 2011-12 was $15.5 trillion, then we paid an average interest rate of around 2.3% on the National Debt. What if interest rates were to go back closer to their historical average of around 4, 5, or 6%?
That would mean that we would easily see a doubling of the interest paid annually on the National Debt. That could easily take interest payments up to $700 Billion a year or higher. We are already running annual deficits of over $1 trillion over the past 4 years. If you start adding another $300 billion in interest, then you will never get that number down.
The biggest effect of all of this is that it is debasing the currency. Think of dollars as shares in a Corporation called the United States of America. The more of those dollars that are issued, the less the value of each share, especially when the value of the company isn't increasing.
I can go on and on about this, but what I presented is a lot to ponder. You might think everything is alright, because you have hitched your wagonj to the news media and the politicos. Oh they will tell you how the Gross Domestic Product grew at 3.1% last quarter, but they aren't factoring in inflation (resulting from the debasement of the currency) or the fact that much of that growth is accounted for through government spending paid for by increased debt.
And all the while, they continue on with their games, while kicking the can down the road. There is a reckoning steaming towards us. We're already over the cliff. I believe we are days (if not hours) away from the markets reacting very negatively.
Message to Congressman McHenry -- Get Rid of Boehner! It is time for him to go. He doesn't get it.
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