Americans over 65 still have plenty of bills to pay. In fact, 25% still have mortgages to pay. That is up from 14% in 1989. They still have car payments, credit card debt and loans for their children’s education to pay. They are taking on new 30-year fixed mortgages to pay their bills. Who would be insane enough to give them such loans? The Federal Reserve System of course, via Fannie Mae and Freddie Mac. Americans over 65 have not only the fastest growing share of personal bankruptcy filings plus the biggest need for credit counseling. This, of course, is financial insanity but the Fed wants to keep the economy from collapsing so they continue the financial accommodations. After inflation, mortgage debt owed by older households nearly quadrupled between 1989 and 2001. That over 65 households has $44,000 in mortgage debt. Now someone has to explain to us how this debt is going to be paid by a retiree. Due to unusually low interest rates homes are used as piggy banks and that is not going to last forever. Of course, they have some $9,000 in credit card debt like most everyone else. These retirees devote 40% of their incomes to debt. What is increasingly happening is the husband is dying. The $1,400 a month social security check is gone and the Mrs. does not know what to do. As you can see, we are not immortal and so Mr. is gone and Mrs. files for bankruptcy and often becomes a bag lady. As the numbers of these over 65 have gone up 3%, their bankruptcies have tripled. Then there are the inevitable medical bills. They wipe many out completely. Better, you should pray for death then a debilitating stroke. It is pretty easy to build up credit card debt of $25,000 to $50,000 alone on medications over a five-year period. Then there are the children’s failed marriages and their drug addictions. The impulse to help them never goes away. As we have always contended the financial conditions of Americans, particularly the elderly lie with the Fed and the banks that indiscriminately create and then lend money to people who they know can never pay it back. The banks, the lenders are the guilty parties not the borrowers. These are the people who issue credit cards to the elderly. Once interest rates rise, the fallout will be stunning, so prepare for it.
US Brigadier General, Janis Karpinski, who was in charge of Baghdad’s notorious Abu Ghraib prison, and was responsible for military police guarding all Iraqi jails at the time prisoners were abused by US troops, says some of the interrogators were Israelis. We reported immediately after the incidents that our sources had told us the Israelis were running the interrogation operation. Karpinski and all those officers and non-commissioned officers are directly responsible for what went on. There is no excuse, as proven under the Nuremberg mandates. All orders, of course, come directly from Rumsfeld, Cheney and Bush and the CIA ran the operation including the Israelis. Karpinski is trying to save herself by putting the blame on the CIA, Israelis, but she and others were every bit as complicit. As we have said many times in this publication and on numerous radio programs, we believe Americans should vote for an independent presidential candidate because both choices offered are repellant and are members of the elitist-Illuminist conspiracy.
We will give you the name of the drug, the consumer price and then the cost of general active ingredients. Celebrex, 100 tabs, $130.27 cost $4.60, markup 21,712%; Claretin $215.17, $0.71, 30,306%; Keflex, $157.39, $1.00, 8,372%; Lipitor $272,37, $5.80, 4.696%; Norvasec $188.29, $0.14, 134,493%; Paxil $220.27, $7.60, 2,898%; Prevacid, $44.77 $1.01, 34,136%; Prozac $247.47, $0.11, 224,973%; Tenormin $104.47, $0.23, 80,362%; Vasotec, $102.37, $0.20, 51,185%; Zestril, $89.89, $3.20, 2,809%; Zithromax $1,482.19 $18.78, 7,892%; Zocor, $350.27, $8.63, 4,059%; Zoloft $350.27, $8.63, 4,059%. Is this outrageous?
It is only 15 years late, but finally the SEC is probing about 20 instances, in which hedge funds may have used insider information to profit from forthcoming stock offerings. The deals known as private investments in public equity, or PIPE transactions, in which companies with limited financing options sell investors discount-priced stock that cannot be traded publicly until a later date. Brokers would tip off hedge funds to the pipe deals.
This week the Senate Energy and Natural Resources Committee will vote on a bill that spells doom for private property rights, landowners and local zoning. Sen. Craig Thomas’ National Heritage Partnership Act (S2543) would create a program that threatens to swallow every community in the country under the guise of preservation. Each area will devour private property rights and local land use control as part of the national socialist corporatist-fascist plan for our country. We suggest you contact your Senators immediately and let them know how you feel about this attempt to nationalize your private property.
Without admitting or denying, Knight Trading will pay the SEC and NASD $79 MILLION. We ran into scummy trading companies over 28 years, but this was probably the worst.
The SEC has sent letters to about 24 mutual funds demanding detailed information regarding kickbacks within the industry concerning 401(K) plans. The payments regulators are trying to identify if illegal gratuities were made in a hard-to-detect form, known as directed brokerage, in which the fund company sends its stock and bond buying business to specific brokerage houses and pays above average commissions in return for favorable treatment for its funds. It just gets worse.
Boston commuters are being told, those who use public transportation, not to carry briefcases, handbags, backpacks or parcels, or they risk being stopped and subjected to random searches. These searches are unconstitutional under the Fourth Amendment’s protections.
The latest war cry in Washington is “no child will go un-medicated.” Children are expelled from pre-schools and childcare facilities for severely disruptive behaviors and emotional disorders. Thus, this excuse is being used to screen 52 million students and six million adults who work at schools. Those deemed problematic are given new expensive antidepressant drugs. This, of course, is very profitable for drug companies. This is the same type of program used in Soviet Russia and Cuba. The plan does not have the Orwellian goal of drugging the populace for a political purpose, its goal is to drug for an economic purpose. Parents are losing their children to the government and to drug companies.
As Father Daniel Coughlin began the commemorative services for Ronald Reagan, the father prayed “Empower all of us, Lord, to play our part in crumbling the walls of separation and in opening the gates to a globalized world.” We ask who don’t the elitists control?
Republicans blocked an effort to block the part of the anti-terrorism law that helps the government investigate and deprives you of your constitutional rights. The effort to curb the Patriot Act was pushed by a coalition of Democrats and conservative Republicans. Now book dealers and libraries must continue to surrender records such as purchases and Internet sites visited on a library computer and sneak and peak searches will continue. This is tyranny. If your Congressman voted for this fascist legislation be sure to vote him out of office.
We cannot believe it happened. One of the top-rung elitists has been indicted. Former Enron Chairman Ken Lay has felt the sting of the grand jury process after two years. This does not bode well for the Bush wing of the conspiracy. It will hinder George Bush’s chances for reelection because Lay was a Bush family advisor.
Free trade and globalization is just wonderful. The Commerce Department says China and Vietnam have been dumping shrimp at unfair prices. Commerce will apply tariffs ranging from 8% to 113%. Shrimp from Thailand, Brazil, Ecuador and India will probably be next suffering a similar fate. The actions of our free trade friends caused US shrimpers to harvest $560 million in shrimp, down from $1.25 billion. Foreigners cut their costs through the use of harmful antibiotics and American shrimpers cannot compete with slave wages. We either increase tariffs and pay higher inflationary prices for shrimp or we see another American industry destroyed.
KENRON: Ken Kay has had his famous perp walk and you don’t often see members of the Trilateral Commission bite the bullet. This was the key to the most spectacular fraud in US business history. He gave $600,000 of Enron’s cash to George W. Bush. Kenny-boy was an elitist all right – in the midst of all those riches and that power. Is he guilty? Of course, he is. He, like all elitists believe they are above the law. Mr. Skilling will bury Mr. Lay and the jury will buy it. Ken was worth $400 million and is down to his last million. The grandee and his lying wife have been destroyed and rightly so. 22,000 people lost their jobs and their pensions. We actually find it incredible, in this one instance that justice might be served.
Due to the Ken Lay indictment, George W. Bush’s attempt at reelection is going to suffer, but that is not the worst of it, he may still be impeached. Dick Cheney is facing a criminal indictment from both France and the US. He intervened while Vice President to secure a $7 billion no-bid government contract for Halliburton. That was brought up by Vermont Senator Pat Leahy and that is why Cheney told him to ---- off. One way or the other these two arrogant blowhards are going down. You cannot alienate that many people and get away with it. In a further loss of credibility for Bush, his AWOL military records have disappeared – more deception. We still have the distinct possibility of another George and the neocons staged terrorist event to implement martial law and cancel the elections. That could lead to the overthrow of the government. There is a faction of military and ex-military who would like the opportunity to do just that. Cheney is under investigation for bribery, money laundering and misuse of corporate assets. The French may be the first to move. They had virtually beaten the SEC into submission to get them to act on the matter. The SEC is not really interested in the real crooks, only the little guys and newsletter writers who tell the truth about what they and the government are doing. There is no doubt Cheney is guilty. Let’s see if the elitists can protect him as one of their own. They may be losing their grip letting Ken Lay get indicted. They may not be able to stop the demise of Cheney.