Palin Says She’s not Going to Take it Anymore

Palin Says She’s not Going to Take it Anymore

In a rare instance of speaking in coherent sentence, Ex-Governor Sarah Palin speaks out against the slander heaped upon national tea party members. I thought for sure Twisted Sister was about to come on the set, singing their song, “We’re not going to take it”, but I was disappointed.

Lead Singer of Twisted Sister Dee Snider

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I Am Not a Teabagger

A Message to Obama Worshipers

*sigh* I’ve said it before, but apparently, I was ignored.  I AM BLACK.  I VOTED FOR OBAMA.  However, I have a political science degree and can see quite easily what is going on in the country.

Blacks are approaching nearly 50% unemployment.  There has NOT been a pull from Iraq and Afghanistan.  We have lost millions upon millions of jobs.  The dollar has not only sunk to a new low, but is in danger of DEFAULTING EVEN MORE.  Yes, that’s right, WE’VE ALREADY DEFAULTED YEARS AGO.

If you have a college degree, even in liberal arts, you’ll easily be able to see that Obama has done everything in his power to staff his cabinet with wall street heavy hitters, not just the peons, but the heavy hitters.

I was also registered democrat.  But, with a modicum of homework, I quickly realized that the two parties are one and the same.  *GASP* oh shocking… oh my zeitgeist is come crashing down around my ears, democrats and republicans can’t be the same.  Oh, come on.  Really?  You can’t be in that much denial.

Anything Bush did, is long gone.  This is the 3rd year of this guy’s term of office.  He has signed into law, much legislation of his own.  Also, he was never forced to sign into law anything that was going on during the Bush term.  You do recall that Bush was a Republican and this guy is a Democrat. 

I don’t need to go into a brief history lesson of how Clinton did not sign into law anything that his Republican predecessor arranged.

Come on, you all are smarter than this.  There have been Black women, men, on this page, Latinos and others who are OBVIOUSLY not republicans.  We are all saying the same thing.  This president is not speaking for the people, he is speaking for wall street.  In fact, Bush wasn’t even Republican.  At the end the Republican party and congress fought him tooth and nail.  WHY? Because, he too, was a corporatist.  He ramped up the deficit higher than any democrat / republican preceding him.  This guy is doing the same exact thing.

Give up.  Take your licking and admit that you were duped.  Remember, Obama is POLITICIAN.  Who cares about his speaking abilities when china is raping us, jobs are flooding out of the country, food prices are skyrocketing and the darling of the Democratic party of issues, SOCIAL SECURITY, is the first thing on the chopping block.  What’s worse is he has committed unconstitutional crimes over and over and over.

The time for giving him a pass is way over.  Who cares that he’s half Black.  Who cares that he’s articulate.  Who cares that the country was bad under Bush.  I have a clue for you.  Bush wasn’t the cause of the housing bubble.  We Americans were the cause of the housing bubble.  Bush wasn’t the cause of this economic depression.  We were the cause of this economic depression.  Bush wasn’t the cause of jobs hemorrhaging out of the US.  We were the cause.

For all the blame that I, personally, laid at Bush’s feet, the reality was that he no more caused it, than I did.  In fact, the housing bubble started under Reagan, skyrocketed under Clinton and came to a halt under Bush. 

For all the bleeding and weeping we have for these people losing their homes, at the end of the day, it is their own greed that got them into it.  Do you think for a second that someone purchasing a $30,000 home EVER got into trouble?  Do you think someone that paid CASH for their home, [ oh an yes 30% of homes are STILL paid for in cash, like everyone did in the 30’s 40’s and 50’s ] got into trouble?

Obama is not special.  He doesn’t deserve your worship.  He deserves your scrutiny.  And, do NOT rely on the news to do your thinking for you.

I offer you an olive branch.  Without you, the country cannot be healed.  If the millions of Obama worshipers do not quickly wise up, we are going to be plunged into the worst nightmare, even this current session could not hold a match to.  Please, just stop the Obama worship and think for a second about what is going on.  The wars, the money, the budget, the drop in the dollar, the wall street CONTINUOUS bailouts, the food inflation, the energy inflation, the middle class slipping into poverty, the staggering job loss.

There is an alternative, to this two party monopoly.

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How to Understand U.S. Foreign Policy (video)

U.S. Foreign Policy and Military Democracy

Noone can say that America is not without complete understanding of the minds of foreign countries.  The presidency has always been the bastion of democracy on the planet.  Only the most forthright and intellectual individual is ever elected to the highest office of the land, sometimes repeatedly.  If noone else is qualified for the job of President of the World, I mean, of the United States, then it is the duty of those whore are most qualified, eloquent of speech, of good moral character, and of sound reason to be reelected, by a generous and politically savvy constituency.

Militarily speaking, only the most moral of reason has the U.S. ever used its military forces around the globe.  And, we only use our military with the utmost economic efficiency.  Any officer in the military that has one iota of conscience will forthwith inform his superior officers, or even the presidency, that they will not be used in any manner that is not 100% in a purely defensive matter to protect U.S. soil.  Ours is the shining example of how a military should be run.  Our troops wash their own clothes, engineer their own weapons and do every possible thing, in-house, to keep our military running at peak efficiency.  Of course they have to, because it is how tax payer dollars should be spent.  Our military can hold their head high and say they would never be used for any sordid economic use.  Our military stands ready to defend us from any foreign invaders.

It is simply amazing how many countries clamor to beg that we come and demonstrate to them how democracy can be practiced in their country.  It is the only reason, and a fantastic one at that, that we send our troops to ensure the safety of our instructors of democracy.  It is a small price to pay, but every American proudly pays taxes to aid our military being used in such a manner.  And, those instructors of democracy have their hands full.  It is very hard, sometimes, to get a good interpreter in those countries, since they sometimes don’t speak English over there.

Yes, U.S. foreign policy is so moral and right.  After all, the country was founded by good Christian men, none of whom touched whine, women nor owned slaves.  We can put our full faith and trust in such men to come up with a system, that we still adhere to, to the letter, to this very day.  To that end, we have sent so many diplomats overseas, to help those poor countries write just such a constitution for themselves.

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Obama to Raise Gas Tax: Poll

Americans Strongly Oppose Proposed Gas Tax Hike

Obama Proposes to Raise Gas Tax

WASHINGTON (Reuters) – Americans by a wide margin oppose a proposal to raise the U.S. gasoline tax by 15 cents a gallon to help cut U.S. budget deficits and support cutting the federal work force, a Reuters/Ipsos poll showed on Tuesday.

The poll revealed mixed views on some of the recommendations made last week by President Barack Obama’s bipartisan deficit commission. The commission put forward a number of tax and spending recommendations to cut $4 trillion in deficits over the next 10 years.

The least popular of the recommendations polled by Ipsos for Reuters was a proposal to raise gasoline taxes by 15 cents a gallon. The commission said the increase was needed to fully fund the trust fund that finances transportation projects. But 75 percent of Americans opposed the increase, the poll found.

The current federal gas tax is 18.4 cents per gallon, while taxes imposed by U.S. states average another 22 cents per gallon.

Seventy-one percent said they agreed with a commission proposal to cut the federal work force by 10 percent and reduce congressional and White House budgets. Sixty-one percent said they agreed with proposals to end federal grants to large- and medium-sized airports and to require airports to pay a greater share of the cost of aviation security.

The poll of 1,028 adults, including 802 registered voters, was taken Thursday through Sunday and had a margin of error of 3.1 percentage points.

The poll showed how difficult it will be to win public and congressional support for many of the recommendations made last week by the commission. The panel itself was not united on the plan. Eleven of the 18 members of the panel supported the package, while 7 opposed it.

Retiremen Age

The poll showed that Americans are nearly split on the idea of gradually raising the retirement age to receive full Social Security benefits to 69 by 2075, a key part of the commission’s proposal to shore up the retirement system that faces increasing financial strains from the aging post-World War Two baby boom generation. The retirement age already is being gradually raised from 65 to 67.

Only 47 percent of those polled said they agreed with the commission proposal on raising the retirement age, while 49 percent said they disagreed with it.

Fifty-five percent agreed with the panel’s proposal to reduce Social Security benefits for higher-income retirees, while 57 percent said they agreed with the idea of giving retirees a choice of collecting half their benefits early and the other half at a later age.

A slight majority, 54 percent, said they disagreed with a proposal to stop taxing the overseas profits of U.S. multinational corporations. That proposal would be part of an overall tax reform recommended by the commission to streamline the complex U.S. tax code and help lower tax rates.

Fifty-eight percent of those polled said they agreed with the proposal to lower individual and corporate income tax rates.

Fifty-six percent agreed with a proposal to reduce overseas military bases and another cost-saving measure to integrate the children of military families into local schools near U.S. military bases and close schools on the bases.

Forty-nine percent said they agreed with a proposal to freeze Defense Department salaries and bonuses as well as noncombat military pay for three years. Forty-five percent said they disagreed with it and 7 percent said they were not sure.

On healthcare, about 45 percent said they agreed with the commission’s proposal to phase out the tax-free status of employer-provided healthcare, while 43 percent disagreed and 12 percent said they were not sure.

(Reporting by Donna Smith; Editing by Will Dunham)

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Wikileaks Just the Facts

Wikileaks the Big Debate

Wikileaks Logo

With all the big bruhaha about Wikileaks, when the smoke clears and the idiots have all gone home, the truth is all the documents released on Wikileaks are actually old, not classified as secret and available to everyone who asks. So the question is, why is everyone so upset and calling for the head of the Wikileaks people? The answer? It’s a ruse. It’s just like dancing with the stars, football and American Idol. It’s to keep you ignorant of what is going on. No national security secret was revealed. No foreign diplomatic exchange was hurt. Nothing, absolutely nothing and noone was harmed in releasing the Wikileaks. I repeat, nothing was actually SECRET. All the documents are still available to you right now to ask for and get on your own, without Wikileaks.

WikiLeaks has released 272 diplomatic cables from a trove of more than 250,000. The remainder are to be dribbled out in coming weeks to provide maximum impact, the website says. A number of foreign diplomats acknowledged that the release could affect some of the most sensitive ongoing global issues and relationships.

1. Many Middle Eastern nations are far more concerned about Iran’s nuclear program than they’ve publicly admitted. According to one cable, King Abdullah of Saudi Arabia has repeatedly asked the U.S. to “cut off the head of the snake” — meaning, it appears, to bomb Iran’s nuclear program. Leaders of Qatar, Jordan, the United Arab Emirates and other Middle Eastern nations expressed similar views.

2. The U.S. ambassador to Seoul told Washington in February that the right business deals might get China to acquiesce to a reunified Korea, if the newly unified power were allied with the United States. American and South Korean officials have discussed such a reunification in the event that North Korea collapses under the weight of its economic and political problems.

[Related: WikiLeaks docs reveal U.S. diplomats insulting world leaders]

3. The Obama administration offered sweeteners to try to get other countries to take Guantanamo detainees, as part of its (as yet unsuccessful) effort to close the prison. Slovenia, for instance, was offered a meeting with President Obama, while the island nation of Kiribati was offered incentives worth millions.

4. Afghan Vice President Ahmed Zia Massoud took $52 million in cash when he visited the United Arab Emirates last year, according to one cable. The Afghan government has been plagued by allegations of corruption. Massoud has denied taking the money out of the country.

5. The United States has been working to remove highly enriched uranium from a Pakistani nuclear reactor, out of concern that it could be used to build an illicit nuclear device. The effort, which began in 2007, continues.

6. Secretary of State Hillary Rodham Clinton ordered diplomats to assemble information on their foreign counterparts. Documents in the WikiLeaks cache also indicate that Clinton may have asked diplomats to gather intelligence on U.N. Secretary General Ban Ki-moon’s plans for Iran, and information on Sudan (including Darfur), Afghanistan, Pakistan, Somalia, Iran and North Korea.

7. The State Department labeled Qatar the worst country in the region for counterterrorism efforts. The country’s security services were “hesitant to act against known terrorists out of concern for appearing to be aligned with the U.S. and provoking reprisals,” according to one cable.

8. Russian Prime Minister Vladimir Putin and Italian Prime Minister Silvio Berlusconi are tighter than was previously known. Putin has given the high-living Berlusconi “lavish gifts” and lucrative energy contracts, and Berlusconi “appears increasingly to be the mouthpiece of Putin” in Europe, according to one cable.

[Related: The Guardian gave State Dept. cables to the NY Times]

9. Hezbollah continues to enjoy the weapons patronage of Syria. A week after Syrian president Bashar Assad promised the United States he wouldn’t send “new” arms to the Lebanese militant group, the United States said it had information that Syria was continuing to provide the group with increasingly sophisticated weapons.

10. Some cables reveal decidedly less than diplomatic opinions of foreign leaders. Putin is said to be an “alpha-dog” and Afghan President Hamid Karzai to be “driven by paranoia.” German Chancellor Angela Merkel “avoids risk and is rarely creative.” Libyan leader Moammar Gadhafi travels with a “voluptuous blonde” Ukrainian nurse.

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The Jobless Rate September 2010

The Jobless Report September 2010

Below you’ll find the direct information about the jobless rate for September 2010.  This information is taken directly from the Bureau of Labor Statistics.  I hold that this information is nearly misinformation due to the fact that the Department of Labor refuses to count U-6.  The U-6, which is what the government uses to gauge people that have stopped looking for work, climbed to 17.1% from 16.7%. What the U-6 doesn’t measure are the people that actually are looking for work, but just can’t find anything. If somebody needs to make a living, they don’t give up. The government doesn’t take that into consideration though. If they are deemed to have stopped looking for work, they are no longer counted.

The jobless rate increased yet, reported government unemployment rates remained at 9.6%.  More and more jobs were lost, yet the unemployment rate remained unaffected.  As an investor, you should be looking for the correct information, instead of the reported information.

THE EMPLOYMENT SITUATION — SEPTEMBER 2010

Nonfarm payroll employment edged down (-95,000) in September, and the unem-
ployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Sta-
tistics reported today. Government employment declined (-159,000), reflec-
ting both a drop in the number of temporary jobs for Census 2010 and job
losses in local government. Private-sector payroll employment continued
to trend up modestly (+64,000).

Household Survey Data

The number of unemployed persons, at 14.8 million, was essentially un-
changed in September, and the unemployment rate held at 9.6 percent. (See
table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.8
percent), adult women (8.0 percent), teenagers (26.0 percent), whites
(8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed
little or no change in September. The jobless rate for Asians was 6.4
percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over),
at 6.1 million, was little changed over the month but was down by 640,000
since a series high of 6.8 million in May. In September, 41.7 percent
of unemployed persons had been jobless for 27 weeks or more. (See table
A-12.)

In September, both the civilian labor force participation rate, at 64.7
percent, and the employment-population ratio, at 58.5 percent, were un-
changed. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) rose by 612,000 over the
month to 9.5 million. Over the past 2 months, the number of such workers
has increased by 943,000. These individuals were working part time be-
cause their hours had been cut back or because they were unable to find
a full-time job. (See table A-8.)

About 2.5 million persons were marginally attached to the labor force
in September, up from 2.2 million a year earlier. (The data are not sea-
sonally adjusted.) These individuals were not in the labor force, wanted
and were available for work, and had looked for a job sometime in the
prior 12 months. They were not counted as unemployed because they had
not searched for work in the 4 weeks preceding the survey. (See table
A-16.)

Among the marginally attached, there were 1.2 million discouraged work-
ers in September, an increase of 503,000 from a year earlier. (The data
are not seasonally adjusted.) Discouraged workers are persons not cur-
rently looking for work because they believe no jobs are available for
them. The remaining 1.3 million persons marginally attached to the labor
force had not searched for work in the 4 weeks preceding the survey
for reasons such as school attendance or family responsibilities. (See
table A-16.)

Establishment Survey Data

Total nonfarm payroll employment edged down by 95,000 in September.
Government employment fell by 159,000, reflecting both the departure
of 77,000 temporary Census 2010 workers from federal government pay-
rolls and a decline of 76,000 in local government employment. Private-
sector payroll employment continued to trend up (+64,000) over the
month. (See table B-1.)

Health care employment rose by 24,000 in September. The increase was
concentrated in ambulatory health care services (+17,000). Health care
employment has risen by an average of 21,000 per month this year.

Within professional and business services, employment services added
28,000 jobs in September. Temporary help services accounted for most
of the gain.

Within leisure and hospitality, employment in food services and drink-
ing places increased by 34,000 over the month and has risen by 104,000
thus far in 2010.

Mining employment continued to trend up (+6,000) over the month. Mining
has added 77,000 jobs since a recent low in October 2009.

Employment in manufacturing changed little in September and, on net, has
been essentially flat since May. The industry added 134,000 jobs during
the first 5 months of the year.

Employment in wholesale trade, retail trade, transportation and ware-
housing, information, and financial activities showed little change in
September.

Employment in construction edged down (-21,000) over the month, partly
offsetting an employment gain in August. Both the August and September
changes were concentrated among nonresidential specialty trade contrac-
tors. Construction employment has shown little net change since February.

Government employment fell by 159,000 in September. A decline in federal
government employment was due to the loss of 77,000 temporary Census 2010
jobs. As of September, about 6,000 temporary decennial census workers re-
mained on the federal government payroll, down from a peak of 564,000 in
May. Employment in local government decreased by 76,000 in September with
job losses in both education and noneducation.

In September, the average workweek for all employees was unchanged at 34.2
hours. The manufacturing workweek for all employees decreased by 0.1 hour
to 40.1 hours, and factory overtime was unchanged at 3.0 hours. The aver-
age workweek for production and nonsupervisory employees on private non-
farm payrolls was unchanged at 33.5 hours. (See tables B-2 and B-7.)

Average hourly earnings of all employees on private nonfarm payrolls in-
creased by 1 cent to $22.67 in September. Over the past 12 months, aver-
age hourly earnings have increased by 1.7 percent. In September, average
hourly earnings of private-sector production and nonsupervisory employ-
ees increased by 1 cent to $19.10.  (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for July was revised from
-54,000 to -66,000, and the change for August was revised from -54,000 to
-57,000.

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Are You to Blame for Our Runaway Government?

The Government Relies on Your Participation

Script

Tea Party Protest Government Spending

Scenario #1 – You just turned 24 and graduated from college.  You secured a job with a 50 year old firm as an entry level manager.  You move to the city.  You pay your first and last month’s rent, plus deposit.  You have a moving company move your meager college level  furniture into your new apartment.  After meeting several girls and inviting them over, you decide to trash all of your furniture and just furnish out the entire place in rent-a-couch furniture.  You eat out every single day and night.  You finally meet a girl you like.  She doesn’t like the city and you get a promotion to super peon manager step 2.  You end the furniture renting contract.  And, you go put a down whopping 2% down-payment on a house and put an entire house’s worth of furniture on your credit card.  You take out a car loan, since you need a car to commute to work now.  Two kids later, you’re enrolling your first-born into soccer and have to get a second job to pay for all the extra expenses.

Conclusion: the economy crashes and you lose your job, both jobs.  You lose your house you’ve been paying on for 2 years, because you now have negative equity in it.  Your car gets repossessed although you were a few months shy of paying it off.  You look up to the heavens and wonder where you went wrong.

Scenario #2 – You graduate from high-school with a C average.  You go get a job down at the steel mill working opposite shifts as your dad.  Your parents are alright to live with, but you dream of moving out one day.  One day your dad turns to you and asks you have you thought about where you want to live for the rest of your life.  That night at the kitchen table all of you, mom, dad, brothers and sisters, all discuss what would be the best place to live.  Your dad says there is absolutely nothing wrong with the little town you’re in right now, but if you want to go see more that’s fine too.  Your mom would like for you to go see other places a bit before settling down.  Your kid brother, the genius, brings a print-out of all the places and cities around the country of where the best jobs are and how long it has been that way.  He also brings a print-out of home prices and commute times to the city.  Your sister makes remarks about schools and kids.  Finally your dad says you should get a house with land on it, so you can always grow much of your own food on it, like you have right now.  So even if things go bad, you will always have food.  After much thought you do exactly that, after saving up for buying a house and buying a car full price.  You move to the city, the entire family helps you move and even helps you plant your garden / mini-farm.  You buy a small house, and furnish it with heirloom items and some other items you buy second-hand.  You get a job working construction just outside the city about 2 miles from your house.  You meet a lady and get married.  Two kids later, instead of soccer, they are tending the farm, and learn about plants and animals.  You never eat out, and your wife doesn’t have a job.  She tends to the farm when you’re not home and sells any extra produce on the front lawn when it’s in season.

Conclusion: the economy crashes. But, you’re an independent worker to begin with so you don’t lose your job.  You don’t lose your house since you bought it outright. Your don’t lose your car since you bought it outright. You look up to the heavens and wonder when is it going to rain next, so the tomatoes can bloom.

In each scenario the jobs are of course different, but also the person’s approach is different. While people are very hesitant to living, what they feel is, a backwards lifestyle, when the system crashes, they go down with it.  Way down!  While the person who is still tied to the earth might not live the jet-set lifestyle of a penthouse playboy, they also have a much more worry free life.

The government now is in bed with business.  The two are so intertwined that the business of government is now the government of business.  50% of all policy and government laws is geared to assist business, not govern people nor do the job that they were created to do, protect people.  But, the government only gets away with any of this, if you participate in the scam.

Scam #1CREDIT: credit is the biggest and largest systemic scam out there.  You are barraged daily, not just with the message of borrowing and spending, but that having good credit, to begin with, should be your goal for a happy lifestyle.  The message goes beyond just having credit, to the point that you should be so ingrained in the credit system as to assist yourself in it, by upping your “credit worthiness”.  Financial planners now advise you how to get better credit.

STOP

It’s all a lie.  You don’t want credit at all.  Your participation in the scheme is what they want.  Noone presents you with an alternative.  Now the average adult would say, oh everyone should know that, but in practical speech, 70% of adults are never confronted with even the possibility that you don’t have to participate in the credit charade.

Credit cards launched a massive marketing campaign to not only get people involved in credit, but banks even started issuing  credit cards down to a local level, so that the entire system, top to bottom was saturated with the credit doctrine.  Stores launched their own credit cards.

But, it is all a lie.  You do not need credit.  Hell, even a debit card is not something a savvy person should use.  The person, adult, that knows anything about money, knows that you will never personally leverage yourself enough to have a winning side in the equation of banking and credit.  That means, that the message of use credit so you can have a better lifestyle now based on a fraction of the cost, is a losing position to have.

Use of borrowed money to increase production volume, and thus sales and earnings. It is measured as the ratio of total debt to total assets; greater the amount of debt, greater the financial leverage. Since interest is a fixed cost (which can be written off against the firm’s revenue) a loan allows a firm to generate more earnings without a corresponding increase in the equity capital requiring increased dividend payments (which cannot be written off against the earnings). However, while high leverage may be beneficial in boom periods, it may cause serious cash flow problems in recessionary periods because there might not be enough sales revenue to cover the interest payments.

Here’s the part that gets you, as a person, tripped up. Your leveraging, credit, does not generate you any income.  Even borrowing for a house or car, never generates money for you.

Scam #2 LOANS – taking out loans is a new thing.  There is still a very large percentage of the population that saves up money and buys a car in cash, or a house in cash, or all of their home furnishings and appliances in cash.  Noone is telling you this, because they are on the take and in on the scam of loaning you, your own money.

Here’s the promise.  You take out a loan and you can buy far more house than you ever could, if you saved up.  It is completely and utterly untrue.  If you ever set aside the amount of money, in total, that you pay for the amount of time that you spend in a house, you would always come out ahead in savings, to loans.

Let me help you with the calculation: [ warning this might be forgetting some things ]

  • loan
  • down payment
  • impound and taxes
  • home insurance
  • 3% to seller agent and 3% to buyer agent
  • title insurance
  • mortgage insurance [FHA]
  • lender points for doing loan
  • loan origination fees
  • escrow fees

Now add in the devaluation of the dollar over that time period too.

If you saved that same amount of money for that time period, let’s say 15 years, you could buy a house twice as expensive as the one you took out a mortgage for.  THAT is what everyone is trying to make sure you don’t realize.

Americans used to save up and buy a house.  Or, better yet, live in the same house and the father and mother pass it on to the kids, while they are alive or when they die.  Americans also did not kick their kids out at 18.  This is more of the inner city phenomenon.  I have no idea when it started, but it has no logical thought behind it, nor no financial logical thought behind it.

The best possible thing to do as a parent would be to have a savings account for each and every child you have and put funds into it very single month.  Your child would even be better served by you taking that money and buying them a house with some land, at 18, than paying for their college.  If you did it right, you could have enough money for both school and a home.

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