Archive for July, 2009

CARBON TAX: Another Speculative Bubble Opportunity for the Banks?

Wednesday, July 29th, 2009

At the end of Matt Taibbi’s punishingly concise article in the Rolling Stone, called Inside The Great American Bubble Machine, he wrote:

Fast-forward to today. It’s early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs—its employees paid some $981,000 to his campaign—sits in the White House.

Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs.

Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm’s co-head of finance.)

By most any intelligent person’s judgment, this is undeniably a tag-team; mutual special interest operations digging into a guaranteed-by-law trough of unending cash from the tax-payer. What else could trillions of virtually inconceivable bailout dollars be? But here’s the bit that I don’t understand. Actually, I barely grasp any of it, so far from my instinctual interests.

Nonetheless, Taibbi goes on to say:

And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion-dollar market that barely even exists yet, but will if the Democratic Party that [Goldman Sachs] gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an “environmental plan,” called cap-and-trade. The new carbon-credit market is a virtual repeat of the commodities-market casino that’s been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won’t even have to rig the game. It will be rigged in advance.

Can anybody explain that, and how it would speculatively work (pun intended), or post a good link? My pre-economic mind can’t understand it. Suffice to say, it’s no surprise that anything moving toward sustainable living, not directly tied to fossil fuels and growth—in fact quite the opposite—would be co-opted by certain interests.

Keep loving, keep learning,

Pete xoxo

THE AMERICAN MEDICAL ASSOCIATION, RONALD REAGAN and OPERATION COFFEE CUP: Health Care Reform Attempts in 1961

Tuesday, July 28th, 2009

It never ceases to amaze me how relentlessly the American Medical Association—and, earlier and perhaps today, the Canadian Medical Association—seems to me to oppose, as a group, the idea of a medical care system whose two main conditions are high quality care and care that actually reaches all (or nearly all) people. Yes, even so-called poor people. Even if Medicare-type delivery is cheaper, which it has proven to be, using the cost of the American system as an example—a system that still leaves 47 million people uninsured.

Coming from a family with two doctors therein, I never would have instinctively guessed such an inegalitarian stance to be the instinct of an Association led by doctors (and their rich friends). How naive, evidently.

Some of the early opposition to so-called universal health care was simply racist: for example, the fear of allowing blacks to be treated in the same hospitals as white, let alone with the same care. Indeed, I am sure the question for many was also: why treat them at all?

But check this out, to get a very slight taste of history. In 1961, the AMA created, believe it or not, a program called Operation Coffee Cup. Part of the program was to have doctors’ wives (called the “Women’s Auxiliary”) gather over coffee, with others, to convince said gatherers to write letters to Congress, and on and on.

About what?

Well, the goal of Operation Coffee Cup was, in short, to oppose health insurance for the elderly. More specifically, the expansion of Social Security to include health insurance for the elderly. This, of course, wreaked of socialism (which already wreaked enough). This communism-infected Health insurance ideology for the elderly, by the way, would later become known as Medicare.

At these meetings, doctors’ wives would play an LP album called Ronald Reagan Speaks Out Against Socialized Medicine. At this point, I believe President Reagan was still just a pretty poor actor.

The three parts are here. One, two and three.

I wish human nature was different, and greed and domination wouldn’t overtake any blanket ideology—because blanket ideologies are used for exploitation—but they do. In a way, isn’t it oppressive at least to a degree to make a person live under any system he or she doesn’t wish to live under? We are distinct individuals after all.

Lots of love and health,

Pete xo

PS This just in! Although historically the AMA and CMA have often been against universal health care, I just read this on the Democracy Now site:
Isabel MacDonald [of FAIR]:

“Fifty-nine percent of Americans and 59 percent of physicians support a Medicare for All-type program, or single payer [I'm not sure if that currently means the AMA]. ABC [Television Network] has not had a single advocate of that system on air this year [I wonder if ABC's friends are Health Insurance companies or coalitions of, say, poor people in New Orleans]. So we’re delivering a petition to both ABC and we’re also sending a message to the other TV networks, demanding that they cover single-payer healthcare and stop silencing single-payer advocates.”

NOAM CHOMSKY gives a few thought provoking reminders halfway through 2009

Sunday, July 26th, 2009

“I’m a sucker for free and fair elections. It warms my heart to watch people drop ballots in a box to express their will…”
—Thomas Friedman

Me, too.

Once again, one does not have to agree in full or in part with what Noam Chomsky points out in the following essay—but his points always remind me of the constant coating painted by media, over top of what is generally much closer to the truth.

Thomas Friedman’s celebration of the election in Lebanon and mocking of the same in Iran is given a little more nuance by Noam. In short, yes, Iran’s election is a disgrace, but Lebanon’s is not as lily white as Friedman and others would like peons like myself to believe. To put it mildly, they’re both travesties.

Speaking of which, I still don’t know what happened in Florida in 2000 and 2004. Have those elections been unofficially but strongly labeled corrupt yet? Were they?

Reactions were similar throughout the mainstream. There are, however, a few flies in the ointment. The most prominent of them, apparently unreported in the US, is the actual vote. The Hezbollah-based March 8 coalition [which commentators say work on behalf of Syria and Iran] won handily, by approximately the same figure as Obama vs. McCain in November 2008, about 54% of the popular vote, according Ministry of Interior figures. Hence by the Friedman-Abrams argument, we should be lamenting Ahmadinejad’ s defeat of President Obama, and the “moral authority” won by Hezbollah, as “the majority of Lebanese … took the opportunity” to reject the charges Abrams repeats from Washington propaganda.

Like others, Friedman and Abrams are referring to representatives in Parliament. These numbers are skewed by the confessional voting system, which sharply reduces the seats granted to the largest of the sects, the Shi’ites, who overwhelmingly back Hizbollah and its Amal ally.

But as serious analysts have pointed out, the confessional [think sectarian divisions] ground rules undermine “free and fair elections” in even more significant ways than this. Assaf Kfoury observes that they leave no space for non-sectarian parties and erect a barrier to introducing socioeconomic policies and other real issues into the electoral system. They also open the door to “massive external interference, ” low voter turnout, and “vote-rigging and vote-buying, ” all features of the June election, even more so than before.

Thus in Beirut, home of more than half the population, less than a fourth of eligible voters could vote without returning to their usually remote districts of origin. The effect is that migrant workers and the poorer classes are effectively disenfranchised in “a form of extreme gerrymandering, Lebanese style,” favoring the privileged and pro-Western classes.

And then there’s the ongoing commentary that Honduras has undergone the first removal of a democratic government in Latin America since the early ’90s or, as some newspapers have said, in something like 25 years. Something more truthful, I think, actually occurred to me right away, too: two other coup or coup attempts this decade seem to have been somehow overlooked.

Mainstream commentary described the coup as an unfortunate return to the bad days of decades ago. But that is mistaken. This is the third military coup in the past decade, all conforming to the “recurrent story.”

The first, in Venezuela in 2002, was supported by the Bush administration, which, however, backed down after sharp Latin American condemnation and restoration of the elected government by a popular uprising.

The second, in Haiti in 2004, was carried out by Haiti’s traditional torturers, France and the US. The elected President, Jean-Bertrand Aristide, was spirited to Central Africa and kept at a safe distance from Haiti by the master of the hemisphere.

What is novel in the Honduras coup is that the US has not lent it support. [Although the non-support is weak, this is still a great thing] Rather, the US joined with the Organization of American States in opposing the coup, though with a more reserved condemnation than others, and with no any action, unlike the neighboring states and much of the rest of Latin America. Alone in the region, the US has not withdrawn its ambassador, as did France, Spain and Italy along with Latin American states.

Anyway, just a couple of interesting expansions on mainstream news reporting. The full article is here.

Love ya,

Pete

YVES ENGLER on CANADIAN FOREIGN POLICY: THE TOP 10 THINGS YOU PROBABLY DON’T KNOW ABOUT CANADIAN FOREIGN POLICY

Saturday, July 25th, 2009

Here is some food for thought. There are a lot more things that could have made the list.

For an overview of what’s in Yves’ book, see this and see this.

THE TOP 10 THINGS YOU PROBABLY DON’T KNOW ABOUT CANADIAN FOREIGN POLICY

10. On dozens of occasions since 1915, Canadian gunboats have been deployed to the Caribbean and Central America [speaking of Navy, the Canadian government and business—in particular, I believe, Canadian Steamship Lines, where PM Paul Martin made much of his fortune—relentlessly and shamelessly smashed the Canadian Seaman's Union in post-war Canada, in large part by employing American union breakers/thugs to terrorize organizers. The most notorious thug of all was Hal C. Banks, whose crimes and brutality were greeted with international (Canada and US) impunity].

9. Canada has been the fifth—or sixth—largest contributor to the U.S. war in Iraq.

8. Ottawa asked London for its Caribbean colonies after World War I [London said no].

7. Days after the elected President Salvador Allende was overthrown, Canada’s ambassador to Chile called victims of dictator Augusto Pinochet’s repression the “riffraff of the Latin American Left.” [Henry Kissinger's role in the coup was evident by many actions, including lines like: "I don't see why we have to let a country go Marxist [democratically] just because its people are irresponsible.”]

6. In a number of countries, Canadian “aid” has been used to rewrite mining codes to the benefit of Canadian mining companies [Aid has been used this way forever, and calling such a thing aid is like calling a beating with a stick a deep massage].

5. Canada had between 250 and 450 nuclear-armed fighter jets based in Europe in the 1960s.

4. Washington did not press Ottawa to break relations with post-revolution Cuba because it wanted Canada to spy on the island [the Canadian government was also deeply involved in the coup that shipped democratically elected Haitian President Aristide out of the country?].

3. Throughout Pierre Trudeau’s time in office and before, Canadian companies were heavily invested in apartheid South Africa [I believe it was in the early 1980s when Trudeau also greatly limited the use of trial-by-jury, the free use of which, for obvious reasons, is vital for a vibrant democracy.]

2. Canada helped depose Congolese Prime Minister Patrice Lumumba, one of Africa’s first independence leaders, who was then killed [early 1960s: Mobutu took his place, a brutal killer and a truly skilled stealer of foreign aid—aid sent to open up business interests].

1. Many commentators, including the world’s leading intellectual, Noam Chomsky, consider Lester Pearson a war criminal because of his significant support for the US war on Vietnam, particularly Canada’s role in delivering US bombing threats to North Vietnam [I believe (but don't have a reference) that Canada's business sector also made more money off the Vietnam war, per capita, then any other country other than the US].

If you know others, please add—and stay vigilant in the name of love and community, and compassion,

Pete

BANKSTERS (as in bankers/gangsters): MUST, MUST, MUST READ

Monday, July 20th, 2009

“Some will rob you with a six-gun, some with a fountain pen.”
—Woody Guthrie

And this:

After the oil bubble collapsed last fall, there was no new bubble to keep things humming — this time, the money seems to be really gone, like worldwide-depression gone. So the financial safari has moved elsewhere, and the big game in the hunt has become the only remaining pool of dumb, unguarded capital left to feed upon: taxpayer money. Here, in the biggest bailout in history, is where Goldman Sachs really started to flex its muscle.
—Matt Taibbi

If you re-read that paragraph a few times, you can really get a sense of the disease that is taking place—the all-pervasive cancer. At the most obvious—ignoring all the ills that got to this point—the symptom of the disease is this ongoing public (tax-payer) bailout of crap fiat money for the economies’ collapsed financial sector.

Maybe it’s not even paper money. Maybe it’s just magic, punched into a computer. Who knows? Whatever it is, it is of no inherent value, and yet devalues whatever ‘money’ means now. That actually also describes cancer cells multiplying.

This symptom (bail-out) is simultaneously the sickest form of so-called socialism (financially) and the sickest form of capitalism (outright theft—stealing rapaciously from public funds and still calling it a free-market). And from inside cancer itself comes a now even poorer, blinded citizenry, and a richer elite, which at some point defines a feudal system, or a dictatorship (even with so-called democracy, as Honduras is showing).

But enough of my clap-trap. A must read from Matt Taibbi’s Inside the Great American Bubble Machine.

And listen to the video, too, please. Of course this is a one-sided piece, but how many people list Hitler’s strong points?

To me, this may be simplified, but how else can the average person, like myself, understand any of what goes on with economic heists? For example, people got hopeless sub-prime mortgages they couldn’t pay back.

Their fault? Sure.

But the problem is caused or instituted or continued because of…

“…banks like Goldman Sachs who found ways to chop up crappy mortgages [if some Wal-Mart worker in Boise should have known they were crap, surely Goldman Sachs...] into little bits and then sell them off as securities to unwitting pensioners.

And there’s nothing ordinary people can do about that stuff. People who are in this business have trouble with a lot of this stuff. It’s enormously complicated, even for insiders….

And if you don’t understand it, if you don’t get it, there’s no way to vote on it sensibly. There’s no way to demand your congressman take action, and that insulates these people from any kind of action…”

Let’s be honest: like lawyer talk, heretofore, wherein and screw you in perpetuity, the whole thing is mystified and complicated, at least partially, with the plan to blind with bull***.

Just appalling. Democrats, Republicans (in fact Democrats big time, in case anyone was feeling smug). My old man has been describing this, through other utterly marginalized economic experts (and still marginalized), for twenty years. Meanwhile, the same perpetrators keep cycling through the system, no matter how bad or even heinous their policies.

These major bankers knew everything. But like a person caught up in, say, drugs or an affair—the rush so great, and these money grabs are an addiction—they don’t notice or literally can’t stop. They literally can’t be ethical: “It was bigger than both of us…” etc.

And President Obama, by posting these people to continued high positions, and the list would be comical if not so tragic (as Taibbi painfully points out), is simply further institutionalizing the sickness.

Seeing as Goldman Sachs ‘donated’, ha ha, more money than anyone else to his campaign, period, he likely believes them. It’s like disowning dear old dad if he paid for where you are. Difficult.

Fast-forward to today. It’s early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs — its employees paid some $981,000 to his campaign — sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs.

If Obama does have good intentions, I sure feel sorry for him.

But those insider banksters and then bankers in government and at the Fed knew and know what they are doing—that’s why and how they made the moves, deregulations, regulations, policy changes etc., they made and continue to make. It’s called uber-maximization of profit, regardless of the cost, the externalities, and it’s where the system ultimately collapses into an abyss of human aberration, greed and emptiness (but tell that to those getting this year’s bonuses).

Really, it’s just a free-for-all and a real picture of human nature, human greed, in the extreme. Why? As Clinton said about his White House indiscretions (and you can include Robert Rubin with Monica Lewinski), paraphrasing, ‘I did it for the worst possible reason: because I could.’

In the end, Monica was brushed off without a mention of her name, or the mental distress caused to her, while Clinton described Robert Rubin as the “greatest secretary of the Treasury since Alexander Hamilton.”

Many do actually question Hamilton’s competency. Thomas Jefferson supposedly considered Hamilton aristocratic and unprincipled. How Rubinesque! Thank you, Bill Clinton.

And do you think most bankers really care if the credibility of their profession is at this point more or less nil? At $700,000 bonuses for Goldman Sachs employees after record quarterly profits in the multi-billions—mere months after the public bailout—and a 1% tax rate last year (seriously), I am sure they care not a wit. After all, it’s simply a good investment on their Obama stocks (formerly Bush, formerly Clinton stocks).

I am sure the theories are not exactly correct. How could they be? But please, have a read, educate yourself and others a little more via something not utterly complicated. And from there, stand for your rights, your intelligence, your grandchildren, and yourself with every new day, as best you can. It’s not easy. We’re all human, after all,

Lots of love,

Pete

FACING ALI IN VARIETY

Tuesday, July 14th, 2009

The first review in a major publication for Facing Ali, July 15, 2009 in Variety, which is an important Hollywood Industry magazine. A few appreciated phrases below:


“…first-rate…” “…so compelling…” “…impeccably researched…” “…excruciatingly moving…” “…top-notch production values…” “…nuanced insights…” “…extraordinary tales…”

The full review is here.

As the review intimates, the ten boxers really were terrific. I have such affection, compassion and respect for their stories, and their candor. I hope putting a good review on line doesn’t seem full blown. Samantha said it was cool. Heck, these things are fleeting, opinions, but I really would like the film, and these guys’ stories, to be seen and heard—and Lord knows I’ve posted bad reviews, too.

Pete

BILL MOYERS, WENDELL POTTER and UNIVERSAL HEALTH CARE

Tuesday, July 14th, 2009

I haven’t had a chance to comment on this—I just read it—but it is certainly worth reading, and comprehending in a wider, all-system sense. It reveals, in stunning detail, the pernicious way in which not just health care, but so many institutions/policies/corporations are run: profit over human rights, supported through, for example, sold out Congresspeople (so many!) via their lobbyist friends. Speaking of lobbyists and shameless PR folk, see my previous blog on Honduras.

And this leads us to a Bill Moyers interview with former CIGNA health insurance PR man Wendell Potter—a real insider. He is like a Mr. Potter from It’s A Wonderful Life, had Mr. Potter changed his position. This present-day Potter has had what is sometimes called a metanoia—a change of heart.

It’s just a shame, and shameful, what is often done relentlessly, recklessly, and without any concern for life-stealing externalities, on behalf of profit. The interview is here.

An excerpt:

I picked up the local newspaper and I saw that a health care expedition was being held a few miles up the road, in Wise, Virginia. And I was intrigued…I borrowed my dad’s car and drove up 50 miles up the road to Wise, Virginia. It was being held at a Wise County Fairground. I took my camera. I took some pictures. It was a very cloudy, misty day, it was raining that day, and I walked through the fairground gates. And I didn’t know what to expect. I just assumed that it would be, you know, like a health—booths set up and people just getting their blood pressure checked and things like that.

But what I saw were doctors who were set up to provide care in animal stalls. Or they’d erected tents, to care for people. I mean, there was no privacy. In some cases—and I’ve got some pictures of people being treated on gurneys, on rain-soaked pavement.

And I saw people lined up, standing in line or sitting in these long, long lines, waiting to get care. People drove from South Carolina and Georgia and Kentucky, Tennessee—all over the region, because they knew that this was being done. A lot of them heard about it from word of mouth.

There could have been people and probably were people that I had grown up with. They could have been people who grew up at the house down the road, in the house down the road from me. And that made it real to me.

BILL MOYERS: What did you think?

WENDELL POTTER: It was absolutely stunning. It was like being hit by lightning. It was almost—what country am I in? I just it just didn’t seem to be a possibility that I was in the United States. It was like a lightning bolt had hit me.

I hate to say it, but it sounds like a dust-bowl Woody Guthrie song, or some post-colonial disaster in the Third World. This cannot bode well for the future. Painful.

Lots of love and hopefully some fairness,

Pete

HONDURAS and BEYOND: Where PARANOIA is more accurate than MEDIA

Tuesday, July 14th, 2009

But if thought corrupts language, language can also corrupt thought.
— George Orwell

Of course I have no idea what Honduran President Zelaya is really like. I don’t know if he was trying to illegally change the constitution, or if he would become yet another so-called caudillo (Latin American Big Man) or anything else.

All that is certain is President Zelaya was democratically elected, and then ousted by a military coup. For a moment, imagine the same thing happening in the United States or Canada, and imagine how such a reprehensible, illegal smashing of democracy would be justifiably worded in the media (unless, of course, powers-that-be wanted said coup).

Oops, my damn paranoia is showing again.

Anyway, I’ll take just one example of many of how the media subtly or not-so-subtly reshapes an obviously cut-and-dry breach of international law (I read a worse example last week, but then read that the wording from the Reuters article had since been changed: the word ‘caretaker government’ had been dropped!).

Anyway, my friends, read this and weep for Honduran campesinos or even your dreams of democracy. The title is a great indicator:

Isolated Honduras hunkers down, Zelaya vows action

Right away, who’s the bad guy? ‘Isolated Honduras’ sounds noble, when it’s not Honduras as a whole, it’s a military regime in Honduras. It’s a common technique of totalitarian information sources of varying degrees to interchange the people with the State—in a way that spreads out a given crime.

TEGUCIGALPA, July 11 (Reuters) – Politically isolated Honduras braced for months of austerity [a good and noble term. Why not "braced for months of oppression at the hands of a military regime?"] under the specter of economic sanctions after a June 28 coup and ousted President Manuel Zelaya on Saturday vowed actions [he's the democratically elected president!] to help reinstate him.

“We have to think in terms of austerity and we want to ask the people to do the same,” interim president [why not imposed dictator, by definition, via the military regime?] Roberto Micheletti said on Friday. He had asked his finance minister [he has a finance minister! - why not military henchman?] to find ways to cut state spending to ride out the coming months ["cut state spending" - this sounds less severe than freedom-loving Governor Schwarzenegger in California].

The [military imposed] interim [dictatorial] government installed by Congress [Congress, so it must be legitimate!] after widely unpopular [repeat 'widely unpopular' democratically elected] Zelaya was booted out of the country in his pajamas [humiliated and weak] last month by soldiers, has resisted [ah, the noble resistance] international pressure and says Zelaya’s reinstatement is not negotiable.

What a remarkable last sentence! What foul Burson-Marsteller type PR group wrote that? Burson-Marstellar, for the record, does or has done PR for the the brutal Argentinian regime in the 70s, Colombia, Blackwater, Saudi Arabia, Romania, to mention but a few lurid examples of their work.

What PR group indeed. I sound more paranoid than usual. But alas, no, check this from Democracy Now (Honduran Coup Regime Hires US Lobbyists with Clinton Ties):

The New York Times reports the [Honduran military] coup government [regime] has hired a public relations specialist with ties to former President Bill Clinton [oh, a liberal-loving PR group, hooray!]. The specialist, Bennet Ratcliff, was part of the delegation that met in Costa Rica last Thursday [how does a PR group get access?]. According to the New York Times, the delegation, including the installed Honduran president Roberto Micheletti, “rarely made a move without consulting” Ratcliff.

An official close to the talks said Ratcliff wrote or approved every proposal that was submitted at the meeting. Meanwhile, the Honduran branch of an influential Latin American business group has hired Lanny Davis, the former White House special counsel to President Clinton. Davis is leading a lobbying effort to muster up support for the coup on Capitol Hill.

Isn’t that great? The democratic right to support a military coup—if the money is right. It’s repugnant that ’support for the [military] coup’ ousting a democratically elected government could be possible in any way, period, on Capitol Hill. Maybe it should be called Capitol Shill.

shill (n): One who poses as a satisfied customer or an enthusiastic gambler to dupe bystanders into participating in a swindle.

Maybe it’s just good business. And just asking, but couldn’t a military coup be considered a form of terrorism? If I was there, I’d be afraid to speak out.

Why does anybody, for more than a passing dream, believe that the thrust of any nation state—even a democratic nation state—is to push for democracy worldwide? The evidence is so non-existent. The thrust of the State is, by nature, by evolution, by greed, by the commands of God—I don’t know, but by something—to maximize and enforce the interests of the richest and most powerful sectors. It’s so painfully obvious. Everything else, it seems, is a sort of balancing act of varying degrees of freedom, prosperity and autonomy, by those whose ancestors have fought for said things.

Keep up the ancestral vigilance for human rights, with love, community, solidarity, an endless belief in freedom, and defense of the vulnerable,

Pete

FACING ALI Academy Release July 10-16 in New York and Los Angeles

Thursday, July 9th, 2009

Hope all is well. This is a blog for all those wonderful folks who have written or called or wondered where and when they can see Facing Ali. First off, I’d love you to see it! I’m not the only one. Check out this photo of ‘The Greatest.’

I’ve been lucky enough to be at full screenings in Seattle, Washington DC and Los Angeles, and I cannot say enough about how generous and enthusiastic the crowds have been. It was like family—families who really love each other. It’s also been shown in Nantucket and Maui.

For now, though, FACING ALI is opening June 10th for a limited one week engagement in LA and New York in what is called an Academy Release. This allows the film to have a shot at an Academy Award nomination. Wouldn’t that be something? That happens, and you’ll all see it.

If you happen to be near either of these two theatres, I’m so happy. If you know anyone near those places, please send an email or make a phone call.

New York:
New Coliseum Theatre
703 West 181st Street
New York, NY 10033

Los Angeles:
Laemmle Claremont 5
450 West Second Street
Claremont, CA 91711

If not, damn I’m sorry. Either way, spread the word if you’ve seen the film, or spread the word if you want to see it. You will love these ten guys who fought Ali, had their lives changed forever, and were a huge part of Muhammad Ali’s evolution. I loved ‘em.

The TRAILER is here.

And check this out for three online reviews.

Lots of love to you,

Pete

BANKS, BAILOUTS and BULLSHIT: If You’re Logical Enough, You Can Get Away With Anything

Wednesday, July 8th, 2009

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

John Maynard Keynes (1883-1946)

I read today:

President Barack Obama’s $75 billion plan to [refinance mortgages etc to] keep millions of Americans from losing their homes to foreclosure may be doomed to fail because banks simply don’t want to refinance mortgages.

That is the conclusion of a study conducted by the Federal Reserve Bank of Boston, which found only 3% of seriously delinquent borrowers (those more than 60 days behind in their payments) had their loans restructured by lenders.

Restructured doesn’t even mean saved (or bailed out). It just means helped. Now granted, as Jenifer McKim wrote in the Boston Globe:

The lenders [banks] may have compelling reasons not to find new borrowers to help, according to the study. For example, up to 45 percent of borrowers who did receive some kind of help on their loans ended up in arrears again, the study found. Conversely, about 30 percent of delinquent borrowers are able to fix their problems without help from their lenders.

But what does this say about the clearly known idiocy of this particular bail-out ideology—tax-payer money—in the first place? Is that not fraud?

And if it’s tax-payer money, it’s by definition money from a group of people who, according to countless statistics, are already, per capita, up to their elbows in debt. What kind of sense is that?

Suddenly a bunch of tax-paying citizens, massively in debt, and against their own desires and instincts (if we have any left), are, by the continuing stroke of a fast-writing pen, turned into little public lending institutions (actually aid institutions) to help out, well, uh, big, private lending institutions.

According to the prescient Federal Reserve, in 2007, consumer debt—not including mortgage debt—was around $8,500 for every person in the US. Every person. Extrapolating, if you and your partner (or ex-partner) have, say, three kids, on average you’re $42,500 dollars in debt. Again, before the mortgage. Or put another way, before the foreclosure.

However, if one considers cumulative debt, which would be calculated as follows: all government debt + all corporate debt + all personal debt all divided by the American population of just over 300 million, then the total debt per person in the United States is about $700,000 US, or, at 2.28 people per household, $2.17 million per household.

Geezuz Murphy. Think about it—without killing yourself or stockpiling ammunitions. What the hell does that mean? Something? Nothing? Everything? World Government Takeover? IMF restructuring? A big default because the US owns all the military hardware? I need a chai.

TANGLED UP IN BLUE (I mean Red)

Isn’t it fascinating how little can be understood with regards to what the heck is going on with the economy, with the bailouts, with banks, health insurance companies and everything else? Truly astounding. I can’t even comprehend my taxes. Seriously.

One thing is for sure, whatever is happening, it is so often utterly counter intuitive to the point—and this may be the point—that we abandon any serious involvement. It’s like living within the rules of quantum mechanics and thinking therefore we don’t really hurt when we fall off a building.

Despite all the economic collapse that the Federal Reserve fellas didn’t see coming (and, yes, countless others saw it coming for years), these same Federal Reserve non-seers get put back in a position to ‘repair’ or work on what they couldn’t see coming in the first place. And they get to use tax-payer money to do it. That’s got to fit the definition of a scam.

In fact I’m going to look up scam.

Scam, noun:

1. a confidence game or other fraudulent scheme, esp. for making a quick profit; swindle.

Further, there are all these ’spooky’ things (to quote Einstein) that go on with banks, like lending nine times over the money the average-person deposits in a bank, or the blight of compound interest on loans, or offering sub-prime mortgages to countless would-be homeowners who they knew couldn’t pay back.

And I know we ‘consumers’—primed from birth—are also often moronic, believing debt has virtually no meaning. Meanwhile, consumer debt has increased in the past couple of decades beyond all other debt types (corporate and government), percentage-wise—so clearly we all have the disease. Of course, it doesn’t help that real wages have, for so many, been stagnant for a long time (there is great argument about how stagnant, and for how long, and what this means).

Anyway, back to banks and loans et al: The in-general-bubble gets so massive that it bursts, and certain banks go down (or so it seemed). So with great logic the federal government bails out these banks with tax-payer money that doesn’t exist, and with that money that doesn’t exist, puts the banks in charge of helping out the folks with bad mortgages who they already duped (or at least co-duped).

As usual, the possibly compassionate yet ultimately ineffective congressman Barney Frank put it this way:

“The problem is worse than we thought. The failure to do these modifications means the whole situation stays bad longer.”

Great. Thank you. Call a committee!

Admittedly, I don’t really know what’s going on. That silly summary is just the best I can do, loosely, trying to understand what’s going on. Either way, the Federal Reserve Bank of Boston put out this study saying that the $75 billion bailout to banks to help with these foreclosure diasasters, is barely being used at all for that purpose.

And somebody is supposed to be surprised?

“Loan modification is not profitable for lenders,” Boston Fed senior economist Paul S. Willen told The Boston Globe. “If it were profitable, they would go out and hire staff.”

Willens goes on to suggest:

Instead of giving the $75 billion to banks, Willen and others believe the administration should distribute the money directly to homeowners.

Did the banks and their rational, logical, cool-minded economists mention that before they got the $75 billion bail-out for, well, loan modification?

If they did, it had no power.

The game was all but over when the bailout happened. “Here fox, look after these chickens!” “Hey, pedophile, look after these kids!” “Hey banker…!” Or should we say bankster, as in gangster, as I believe FDR did?

Now there will be (or already is) some committee and some commission to check out what might have been illegally or ignorantly done and in the meantime the money will be gone, reused, rechanneled, or spent on bonuses, holidays or prostitutes on weekends away.

Bright people in positions of power have to have known this would happen (that’s their job!). Ah, well, back to my screenplay. Why didn’t I get an education?

The full article with links to the Boston Federal Reserve study is here.

May you have a house to live in (and may it also be a home),

Pete xo