Obama to Bankrupt Country by Raising Minimum Wage

Obama to Bankrupt Country by Raising Minimum Wage

Black CookPresident Obama called for raising the minimum wage to $9/hr. Please tell me how many people will be fired if that happens? How many businesses will have to shut down? How many part time workers, will have their hours cut?

Please understand something: Obama is selling you pie in the sky. We’re adults. We know that a company has to pay, not just the worker’s salary, but his taxes, his state and local taxes, any benefits, unemployment fund, etc etc etc. Raising the minimum wage IN A RECESSION will only be bad. VERY BAD. for the already down economy.

You are not supposed to feed a family of 3 on a minimum wage job. Yes, people do it, but who’s fault is that? For every minimum wage job out there are 2 brain-dead jobs that pay better. Minimum wage means you have NO skill. It isn’t for someone that does immense calculations. If they wanted to pay more, the position would require more.

I guarantee you if the minimum wage is raised, people will get fired. And I mean, A LOT OF PEOPLE.

For those who have been following my blog, you already know from my macroeconomics posts, the minimum wage is a destructive tool that is used for racism and destroys productivity. It bankrupts business, raises labor costs and forces owners to fire the worst workers from his business. You can tolerate a bad worker at a lower wage. You cannot tolerate a bad worker at a higher wage.

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Maybe Standardized Tests Really are Racist Against Black People

Standardized Tests Really are Racist Against Black People

black college gradsIn the 1970s there was a very big todo about standardized tests being racist against Black people. When I heard about the debate, when I was old enough to even take a standardized test and made aware of the debate, I didn’t see how the test could be racist, because there was nothing on the test, in my view, that even hinted at racism. However, I am now about to take the CFA, chartered financial analyst, exam. While this exam is not racist, I just had an epiphany.

Reading an Alien Language

What I couldn’t comprehend before, I now comprehend. There was an episode of “Good Times” that I saw on rerun, of course. In the episode, the youngest son of the family, who was always portrayed as a Black militant, all 4 feet ant 10 yrs old of him, had a monologue about how standardized tests were racist. The mother, playing the straight man to his schtick was the devil’s advocate and asked him to explain how the tests were racist. He said, “for instance: the quests asks ‘if jane and george go to the diner for lunch, and jane won’t sit next to suzy and suzy won’t sit next to harold and harold will only sit next to jane, who is sitting next to whom'”. Now the mother asks, what’s wrong with that question. So he answers, “Black people don’t even go to diners so they don’t know what a diner is, and these names are white and Black people have never heard of them, and Black people don’t go out for lunch. It’s racist.” Of course they play the laugh track to laugh at the monologue.

But, they were trying to hint at a very real problem.

Where do I come in? So I am taking the CFA exam. There is nothing wrong with the exam, nor the study guides the institute actually sends you. The problem is that nearly all study groups online are with people from India. On its face, that’s mostly not a problem, since they do speak English. The problem comes when they reference me to use their study material. you see, the CFA is a very big deal in India. So they have many professors that have study material of their own.

Here is where the problem comes in. While trying to listen to the Indian study material, it struck me like a ton of bricks. I don’t understand 50% of what the guy is even saying. The units and names and references are to things I cannot even imagine what they mean. This is where the epiphany about the standardized tests came in. I suddenly realized what “Good Times” was trying to say.

It’s not that the test was racist, it is that in the hands of a Black person, the test is literally like trying to read an alien language, with no point of reference of how to even begin. In the debate, they rewrote entire standardized tests in pure Black colloquial terms, and with references that Black people would understand and every Black person that took those exam scored much higher.

To give you an example of how reading or listening to my indian study guides, the professor will say something like this: “the conditional probability of when India ****, ** *****, ***** at 36% and **, ****, **** at 50%, give us the probability of **** *** and **** ***.

I literally cannot tell what he is saying. And, as the lecture goes on, he gets more and more obscure with his references.

Here’s another example that may show you what I mean. “When in Accra I had the best fufu. The best fufu is only found in the bush. When in the bush you sit and watch the fufu being made. The Tri make the best fufu.” Now, unless you’ve been to Africa, that probably should make no sense to you. So here are the definitions of the words I just used.

  • fufu = a pounded root that is pounded into a plastic like dough that you eat raw
  • Accra = a city in Ghana Africa
  • bush = the interior of a country away from the coast, which has nothing to do with bushes. It just simply means you are really far in the countryside.
  • Tri = a major tribe in West Africa

Even if you are fairly intelligent, without these references and definitions that sentence should have been terribly hard for you to understand. This is how I feel while studying Indian study guides and this is probably how inner city Black kids felt when taking the standardized tests. They were literally reading what would be alien language to them.

It is ironic that the Mexican immigrants come here and everyone bends over backwards to get over the language barrier for them. However, for Blacks there was never such effort. Don’t get me wrong, ebonics is not Black language, seeing as the very word and concept wasn’t even invented by Blacks. I am referring to a social and cultural barrier that is hard to understand unless you are Black yourself.

When I went down south to attend college, it took me a month to understand everyone. Mind you, I was at college, so we are not talking about unintelligent people. They literally spoke a foreign language, from my perspective. After about a week of asking people to repeat themselves, I gave up. Slowly but surely, after a month had passed, I began to understand everyone. I would literally walk around and if someone spoke to me I would apologize and tell them I could not understand them. As hard as I found it to understand them speaking, I cannot imagine the difficulty they had when they had to take national tests.

And, if you think I am exaggerating because it was just one college campus, it is not the case. When I went to visit family around the country, they were all struck by how differently I spoke. One of my uncle’s was certain that I would change after staying him for a few months. He was quite surprised that I did not, which he mentioned as I was leaving. He was sure I was faking, and that I would come around and let the joke end.

What Exactly is Fracking and Is it Bad

What Exactly is Fracking and Is it Bad

frackingIf you listen to Democrats and environmentalists this method of drilling for oil and natural gas, called fracturing is the 2nd coming of the beast. There is a lot of talk about how terrible it is for the environment, how they put toxic chemicals in the ground, how it pollutes the water table, how it is very near the surface and kills livestock and small children.

Well, I wouldn’t want you to be completely ignorant on the subject, because you will be called to vote on this very issue soon or in the very near future.

None of the propaganda against fracking is true. Nearly every point is the exact opposite of the truth. Finally, because of fracking natural gas is now cheaper than ever.

Department of Defense Prepares for Half a Billion in Spending Cuts

dod civilian workerWASHINGTON, Feb. 21, 2013 – Deep, across-the-board spending cuts scheduled to take effect March 1 would cause chaos for the Defense Department, Deputy Defense Secretary Ashton B. Carter said in a televised interview yesterday.

Carter told Judy Woodruff on “PBS Newshour” that the department will do what it can to minimize disruptions should the cuts kick in, but it can do only so much.

“We don’t have a lot of flexibility, and we don’t have a lot of time in that regard,” Carter said.

A “sequestration” mechanism in budget law requires DOD to cut $46 billion in spending from March 1 until the Sept. 30 end of the fiscal year unless Congress comes up with an alternative that would stop sequestration from triggering. This comes on top of $487 billion in defense spending reductions already programmed over 10 years, and Pentagon officials have noted that operating under continuing resolutions in the absence of a fiscal year budget complicates matters.

Defense Secretary Leon E. Panetta notified Congress yesterday that the department is preparing to place almost all of its 800,000 civilian employees on unpaid furlough for one day a week through the rest of the fiscal year. These are not faceless bureaucrats who simply shuffle paper, Carter said.

“They repair our ships. They maintain our aircraft,” Carter said. “That’s who these people are, and 44 percent of them are veterans. It’s a terrible thing to have to deprive them of some of their income.”

If sequestration triggers, operations and maintenance — the primary funding that ensures readiness — will be particularly affected. The department will ensure units deploying to Afghanistan will receive the training needed to succeed. But this will rob other units readying for other missions, Carter said.

“That’s just a mathematical fact of doing sequester,” he added. “This is very damaging to national security.”

In planning for sequestration, the Navy already has postponed sending an aircraft carrier to the Persian Gulf to join one already there, to ensure there will be enough ready carriers to dispatch to other critical areas if required.

“In everything we do, we’re really trying to keep on protecting the country and delivering the defense under these circumstances,” Carter said.

By Jim Garamone
American Forces Press Service

Charities Left Out in the cold in Cash for Clunkers Deal

Cash for Clunkers What is it?

I’ve mentioned before that the stock market it is a zero sum gain, I win at your expense, not a win win situation. In the cash for clunkers program the government is footing the bill for $2 billion. Now when I say the government is footing the bill, I mean US. But the cars that qualify for the trade in program are perfectly running cars; can’t be too old; can’t have bad emissions; can’t have great emissions; have to be paid off.

Now I thought on its face that those criteria were just awful. Why would a rational thinking American turn in a car and burden themselves with more debt? This is why were are in this mess to begin with. This is insanity. This makes me mad.

Not only does the cash for clunkers program make me mad, but now I’ve found out that these idiots fell for it hook line and sinker and the program is an “overwhelming success”. Idiocy is running rampant in America. They should have an intelligence quotient for people to call themselves American.

Now I am totally ballistic. I am so fuming mad I could spit.

BUT WAIT …

THERE’S MORE …

Enter the Charities

In the stimulus package, that Barrack Obama signed into being, you’ll see how in that bill, charitable donation tax write offs were lowered. I don’t know how a peace loving, hippie acting, granola eating, president could completely shaft charities like that.

Regardless of what some idiots who stick their heads in the sand say, charities do benefit heavily due to people wanting a tax write off.

As if that weren’t enough, let’s take a look at the Cash for Clunker stimulus package, i.e. car industry bailout.

The cars being turned in for vouchers are the cars that previously would have been the exact cars donated for a tax deduction. Car donations were left completely out of the entire cash for clunkers program, even though both the Congress and Senate were told of the problem months and months before.

Apparently, charities are not a big enough lobbying group. [ I guess they didn’t “donate” $1 million like Goldman Sachs did… ooops did i say that ]

And, Obama is gloating over the plan, and hoping it will get renewed. So once again, this president is shafting them.

I just don’t get it.

I say donate your car. If you really need a new car so badly, you can get dealer incentives to buy upwards of $4,500 anyway. Give your old car over because I’m not liking to foot your stupid bill in this $2 billion car bailout, because that’s all it is anyway.

Don’t misunderstand me, I am not a desocialistacrat nor a repukeblican. Both are the same thing.

This American Lifestyle: Why Are We in This Mess

Why are You in Debt?

Peter Schiff comes on to CNBC and they all have a good laugh at him. Of course Peter Schiff has a 1 minute 30 second spot to deliver his message of doom and gloom, competing with the idiot host who wants to give you the “THE RECESSION IS OVER, THE RECESSION IS OVER,” mantra they always spew.

Let me explain why we are in this situation, since I [and you] have all the time in the world.

Preparing You for a Life of Debt

Let’s start with you and I’ll get to your parents in a second and tie it all in. Your first taste of true economic freedom is clamped down and you’re straddled with debt immediately. How? College! You take out massive loans, not secured by anything other than your I.O.U. You are then strapped with this debt fresh out of college. You must secure a job immediately to start paying it back.

But, wait! These college loans afford you a lifestyle change unlike, what you would have had, had you paid for college yourself. I’m not talking rich people. I’m talking average middle-class America, paying for college with their own money. “Well, no one would go to college,” you might say. Not true, and this is where Peter Schiff, Ron Paul and the Austrian Economic School of thought come into play. If everyone in America stopped taking college loans, or begging for government grants, college tuition would plummet and we all could afford it. Colleges would have to compete with each other, to offer an affordable price to gain student dollars. Colleges right now are not run like businesses, the are run like governments, wasteful. Colleges rely on the fact that the government is going to continually bailout the students. They no more reign in spending than the city or state or federal government does. If they have waste, they just raise tuition to pay for it. What do they care?

Conditioning You for Debt

The point is, you are now conditioned to accept massive debt, to afford you a certain lifestyle. This is where your parents come in. Instead of them saving, I’m talking on a massive scale, and paying for college out of their pocket, they do stuff like take out home equity loans. It has become to common place,that banks now advertise for it. “Take out a home equity loan for your kid’s college tuition.” 80 years ago, that would have been unthinkable. People would have called you mad. So, immediately, your parents first financial lesson to you is, go in debt to afford you a certain lifestyle. Nice lesson dad.

This lesson is repeated over and over. People were relying on the equity in their home, with the notion that housing prices would continually climb, so they could borrow on it. Now, Barrack Obama and Ben Bernanke, is trying to continue this farce by propping up housing prices. They are fighting the recession with every ounce of strength they have. And, believe me, they have an entire treasury to do it. They have the sheep, that is the American public to give away their money, and no one asks a question.

“More than three-quarters (77 percent) of Americans with pre-college age kids, however, have saved less than $20,000 for their children’s college expenses; 62 percent have saved less than $10,000, and 43 percent have saved less than $5,000. Twelve percent have saved nothing at all.”

Your house is not worth $125,000.00. I’m sorry to be the one to tell you this. Go back and see what your house would be worth in 1970, and maybe then you’ll have an accurate picture.

What people are failing to understand is, housing prices are predicated upon the scarcity of housing. Unfortunately, there was a housing boom in construction. There is an over abundance of housing. So your house is worth far less now, than when you first bought it. There are parts of the country with entire huge condo buildings sitting empty. I don’t have the numbers, but I guarantee there are at least 10% of empty real estate in every city. That means your housing price, should be lowered.

So this notion of borrow on equity… You have no equity. You have nothing. You were being propped up by the government the entire time. Why do you think you can deduct the depreciation of the value of your house annually? The government knew the real story.

So we have a failing economy, lowered housing prices, what’s next? Unsecured debt! Besides all the lending done on real estate, people still took up debt that was unsecured, like college. The lenders knowingly were doing this, but we were still borrowing. No one forced us to sign on the dotted line.

We just had the FBI raid TBW based on fraud. Stories like that should show you. I guarantee the FBI could probably raid every bank in the land for nefarious lending practices.

No one wants to swallow the pill. I bet you’re sitting here muttering, “I don’t want to lose my equity”, “I don’t want the value of my house to go down.” Or, you might be a banker saying, “I don’t want my clients defaulting on their loans.” So everyone is hoping Obama will bail them out, prop up this farce of an economy and keep it, business as usual.

No One Wants to Swallow the Bitter Medicine

This is what Peter Schiff, Ron Paul, and the Austrian Economic School of thought is talking about. Everyone is sitting quivering in their living room, hoping they won’t have to be the ones to pay for all this excess. And, when I say excess, I mean all the loans.

Imagine for an instance, that you had no debt, at all. Imagine the only expenses you had were your power bill. *GASP* I bet for some of you, that is nearly impossible to imagine. This is what the recession needs to cure. This is where this recession needs to go. Not, bailing everyone out. Not, propping up housing prices.

If we could go back in time, I would be for Obama saying,

“Today I’m wiping out all the toxic real estate assets. I am wiping out all current housing loans. I am declaring a banking holiday.”

Housing prices would have plummeted, but no one would care, would they? If your house was paid for, but only worth $10,000 would you care? However, no toxic assets were removed from the system, not a single one. And, you are still in debt.