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Someone is worried about the Newark mayor’s race.  Nancy’s evidence shows that  financing for Polly Sierer’s campaign is coming out of One Commerce Center, 1201 Orange Street in Wilmington.  This building is the home to over a 100, 000 shadow corporations.

Here is what Nancy has:

The address listed on the Polly Sierer mailer is the Cambridge Drive, home of Mike Mullen. It says to visit elections.delaware.gov for more information on “I Like Polly’s Plan.” The Department of Elections says a PAC was just created but has not yet filed any reports so we will not know until the end of year report who is financing this effort. The PAC had the minimal information legally required, which was the treasurer’s name and contact information. The treasurer is Mike Mullen and his cell was listed – 392-893-7832. I have tried calling but it does not ring and simply says “The person you are trying to reach is not accepting calls at this time. Please try your call again later.”

Here is the location of that area code…..

Two islands in the middle of the Pacific Ocean 5000 miles East of Australia….  (it is probably a default; there is no area code for 392 other sources state.)  It appears this number is off a spoofer, one of those machines that can fake a number.  Here are a list of random complaints made over that area code….

We now have a violation of election law.  The deliberate misleading of who is sponsoring a candidate is not allowed.  A known illegal phone number was given to the Department of Elections for the treasurer of a small municipal mayoral election….  It is not a mistake.  It was provided by a spoofer. It was purposefully hidden.

What happens now.

The Superior Court has jurisdiction over Election Law.  All entreaties must go through the Attorney General.  Due to the timeliness of the election,    “(a) The Attorney General shall immediately prosecute to final judgment all complaints which may be made of a violation of this title.   

Furthermore, a complaint can be further made to the Elections Office on Monday, and the complainer require them to notify the Attorney General of this violation. (b) Each department of election and all election officers shall notify the Attorney General of all violations of this title.

Election filings are considered perjury if misfiled.  There is no mistake that his was intentional…..

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But that is really an offshoot.  What is important for Newark is that a giant corporation, with over hundreds of billions in assets, is using surreptitious means to overthrow Newark’s elections for one reason.  To approve the largest gas burner in the state of Delaware which will be only 200 feet from resident’s homes. And use the umbrella of providing jobs … to do it.

Would they be doing this if this was really a good plan?  Or would they be doing this because time is running out, and the threads are being followed, and soon the truth will show?

Gas burners shower their surrounding ten miles with elements normally kept miles underground.  Radon is one.  Radon detectors in everyones home will now go off non stop.  Lead is another.  Imagine a micron depth of lead over your cars, you lawn furniture, your pets, every morning you wake up. Uranium is a third.

There are very good reasons the investors of the largest gas burner in Delaware, which will run 24/7, do not want you to know this.  Likewise, there are very good reasons corporations choose to register in Delaware, where no one can find their owners and hold them accountable…..

But at best it comes to character… Who in the hell hires a treasurer they don’t know, who has a phone number showing up in the middle of the Pacific Ocean?  Ostensibly so as not to answer questions?  So as not to be accountable?  So as not to be up front?

A patsy. A pawn. A slave to someone else’s interests… That is who.  Seriously.  If YOU were running, and  YOU are the one who fills out the application form to run, YOU are the one who puts down your treasurer, YOU are the one who types in their phone number in the slot that says after treasurer …. Phone Number….  and YOU didn’t know it was a fake, or you knew and agreed with it,  wouldn’t YOUR character be suspect?

Newark.  You are so lucky.  Consider yourself warned just in the nick of time.  Regardless of how you feel about the Power Plant, and now that evidence is rushing in on how damaging it will be you should be concerned, just on character alone, is reason not to “Vote For Polly.”  Character alone.  Doesn’t Newark deserve better?

Why is Polly’s Treasurer’s number a fake area code?

The answer is in One Commerce Center, 1201 N. Orange Street, Wilmington, Delaware, 19801…….

So vote:  Shall it be Wall Street?  or Main Street, that is… both the East and West versions of Newark’s Main Street….. And if by chance you are wondering who is squeaky clean and willing to represent all of Newark, and won’t be cowed, intimidated or bought out by the persuasive giants of Wall Street?  You should already know it is Amy Roe… She has stood up to them many times. I think that now, at least till this data center passes, someone who is pro-business-as-long-as-it-does-not-kill-residents in its process, is what Newark should have. Actually for now, it kinda appears what Newark really needs.

Unless  later, whenever you have a complaint with the city, you want to call the Pacific Ocean….. “Ariel, Ariel… is that you?”

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Economic theory, which is basically bullshit, is often coached in mathmatical terms to disguise the fact that it is pure bull.  However there are some very simple concepts which make very good common sense, and if one looks at that, instead of how to use current data to justify one’s action politically, one comes up with obvious surprising results.

Labor Demand < Labor Supply

That is why so many people are out of work.  Now here are the players.

  1. Workforce Market
  2. Corporations
  3. Commodity Market
  4. Foreign Investments
  5. Financial Markets
  6. Households
  7. Government

Government is our last option.

So our workforce if we compare the same counting today as was during the Great Depression, is running at 85% capacity.  Meaning 15% are unemployed.

Going down the list then,

Corporations are at their best ever. Corporate profit the highest percent of GDP ever.

Financial Markets also are at their best ever.  Dow Jones is at record highs.

Commodities are performing well, all indications are of a long term bull market.

Foreign Investment is at an all time high.  Never have we had this much outside money.

Real Household Income is declining.  We are headed downwards and are currently tied with 1994 as it rose out of the 91 recession, and prior to that, tied with 1984 as we were coming out of the 1982 Recession.

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Bottom line with government out our equation, we have the investment side of our economy all doing spectacularly well, and the household side going down.

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Proof enough that the free market system, or capitalist system does little for the good of any nation, just as little good it did prior to the legislation that became law after the crash of 1929 when Democrats swept the Federal Government.

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Government is the great equalizer.  For a fix, government needs to step up and side with We the people (or households), and as a referee would in any sporting event, make the playing field fair.

It can to it in either of two ways. It can impose necessary restrictions upon businesses which increase their demand for labor at the expense of their corporate profits.  For example, pass legislation to imprison CEO’s for malfeasance. Only then in order to keep their heads out of hot water, they hire environmentalists, social engineers, accountants, and other highly trained personnel whose prime function is to make sure the company is not doing anything shady.

It can also split the corporations into multiple smaller ones, each now requiring a new president, several new vice presidents, new HR’s, new financial planners, etc and with one fell swoop, increase the demand for labor.  This too, comes at the expense of corporate profits, which are currently huge primarily due to economies of scale.

And it can indirectly create demand by raising taxes.  When taxes go up on profit- earned, less profit gets earned by design; less “reported” profit, less money handed over in taxes.. Meaning the bulk of that money is now spent being reinvested into the business just so it can’t be taxed.  Building projects, higher wages, more R&D gets spent into the economy,  This too, comes at the expense of corporate profits on the books.

But that is why higher tax rates are actually the best alternative.  Higher tax rates tend to create less taxes, so government still needs to stay small.  The revenue collected is lower for the simple reason that if there was absolutely no tax, all the money earned would belong to me.  But if more of what I earn goes to you, then I will figure out a legal way to keep more for myself, and report less.  So whereas as tax rates go up, total tax revenue comes down;  the net effect is that more money goes into our economy thereby creating more demand.

The demand for labor then gradually rises to equal the supply and if it continues on its upward path, yes, yes, so there are more jobs than workers, then competition begins pushing the individual wage rates higher.

Which adds to the increased demand.

Using tax rates works best for now instead of the government interfering with day to day operations of all businesses, it actually creates an environment where each business can operate independently to its own best interest, and as they do, the demand for labor rises even more…..

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Anyone who argues for less government input into the economy is in the wrong century and can’t read economic figures that are plain as day.  So how does one interpret the cries for less regulations that are hurting corporate profits?  Easily. One realizes that sooner or later corporate profits have no choice but to fall, so our household income can increase. Loss of corporate profits is a “good thing”.

One should mention in the same breath, that labor’s percent of wages is deteriorating all across the world.  It is a world wide phenomenon.  The answer is simply that deference of all governments over the past decade and a quarter, has been given to those in charge of investment.

Policies favoring Investment must now take a back seat to those which put people back to work, which if done, raise the incomes of all of us… Even those of  the 1% , though not as much as they have been lately been accustomed.  But everyone still benefits.

Raising taxes is where we need to go.

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Today in order to capitalize upon the fact that the fourth quarter economy sank (even though it was because of the downward pressure due to the threat of sequestration forced upon Congress by the Tea Party), they wheeled out Arthur Laughter Laffer to make a dire predictions….

Be Careful Of What You Wish For

He is on their short list of who-to-call-when-we(FOX News)-NEED-a-dire-prediction…..

Because….. He is well known for making “dire predictions”..

“Economist Arthur Laffer told his clients on July 26, 1982, that (Ronald Reagan’s) Tax Equity and Fiscal Responsibility Act, which raised taxes by about one percent of GDP, “will stifle economic recovery,” “retard economic growth,” and undercut “the economy’s ability to enter into a period of expansion.” On August 20, 1982, he told his clients that TEFRA, Tax Equity and Fiscal Responsibility Act, “will tend to lengthen and deepen the recession.”

Instead, ….. No one could have been more wrong…

“Looking at real gross domestic product, it grew 4.5 percent in 1983 and 7.2 percent in 1984 – an exceptionally strong performance. The stock market had one of its best years ever in 1983 – both the Dow Jones Industrial Average and the S&P 500 Index rose 35 percent. There was no increase in the rate of inflation, which was exactly the same in 1983 and 1984 as it was in 1982. The unemployment rate fell from 10.6 percent in December 1982 to 8.1 percent by December 1983 and 7.1 percent in December 1984.”

On August 20, 1993, Laffer told his clients, “Clinton’s tax bill will do about as much damage to the U.S. economy as could feasibly be done in the current political environment.” He said that interest rates would rise and the stock market would fall.

Once again, it would be hard to find a forecast that was more completely wrong….

“The unemployment rate fell from 7.1 percent in January 1993 to 5.4 percent by December 1994. Real GDP growth rose from 2.9 percent in 1993 to 4.1 percent in 1994. Stock prices rose and interest rates fell. More importantly, the 1993 tax increase and accompanying spending controls, which were opposed by every Republican in Congress, laid the foundation for the phenomenal growth of the late 1990s that actually produced budget surpluses before Republican tax cuts in the 2000s dissipated them.”

And now! Today,… well, there he goes again….

“You have the whole output of the economy shrinking. Not just expanding more slowly, it`s absolutely shrinking,” (lol, see by how little, below)… Laffer told Fox News’ Eric Bolling

That’s catastrophic,” the former adviser to President Ronald Reagan added. (Did anyone else catch the stupendous irony of that? Oh, Wow. You can’t make stuff like that up).

You can explain some of that by sequestration, and defense spending was down lot and all that. But you still have a rotten economy. And it’s still too bad. We know how to fix it, by the way, a low rate flat tax, spending restraint, sound money, free trade.” (See George Bush’s Economic Record.) Laffer was responding to reports Wednesday that the U.S. economy contracted 0.1 percent in the last quarter of 2012…

Yes. Laffer was responding to reports Wednesday that the U.S. economy contracted 0.1 percent in the last quarter of 2012. Quote: “You have the whole output of the economy shrinking. Not just expanding more slowly, it`s absolutely shrinking,”

Recalling his years as one of Reagan’s top economic advisers, Laffer said Reagan actually cut the highest tax rates (From 70%-50%; they are 35% now) He said “we made a mistake” by phasing in the cuts, which he said caused the 1981-82 recession. But he said the economy took off in 1983* when the cuts (and 1%GDP tax increase) went into full effect. *

“This place just went like a rocket ship,” he said. “I think we had 7.5 percent growth in 1983 and 5.5 growth in 1984, just this boom that lasted for years and years.”* (*lol)

(Conversational excerpts provided by Newsmax)

They cost you too…

The drop in payroll tax from 6.2% to 4.2% results in a savings of about $1000 a year to every wage earner.

(If truth were widely known, that tax cut is actually a bad idea. It hemorrhages a dying social security fund, requiring the eventual death of the program or an expensive emergency last ditch surgery in the future.)

But it is hard not to give a $1000 present to every voter. Even if it only comes out as $19 dollars and change each week… But, still again, if your electric bill is $198 and you only have $189 in your account, that additional amount is, well, a lifesaver…..

But, Republicans in the House, even after Republicans in the Senate voted passage, overwhelmingly voted….. not to vote on the measure…

They didn’t vote against it… THEY VOTED NOT TO VOTE ON IT……
(speculation is that they lacked the votes to keep it from passing)..

So, how does that relate to you?

House Republicans (read Tea Party) just voted NOT TO VOTE on whether or not you will be losing an extra $20 a month out of your next paycheck.

Imagine what this is doing to payroll clerks around the country?
Imagine what this is doing to family budgets around the country?
Imagine what this is doing to businesses who rely on consumer spending around the country?
Imagine what this is doing to businesses heavily involved in the financial sector, around this country?

So what would normally happen?

Normally a group that can’t find agreement, acknowledges the sad fact, and long before the deadline, announces that they failed to reach agreement and that things would continue as they were on a temporary basis, to unfortunately allow for more time to solve differences.

But NOOOOOOOOOOOO, …. WE ARE STUCK WITH A TEA PARTY THAT FUCKS THINGS UP.

Instead, we have a vote not-to-vote, then get all sorts of very lame excuses from those who are delaying, none of which apply to the real problem that Social Security is doomed unless drastic action gets taken (higher rates, not lower), and we get nothing….

The tax cut will expire…

It is like sequestering a jury in a room, where everyone after much fact-covering argument has agreed to a judgment, except for one person who’s been bought off. And nothing, nothing, logic, emotional appeal, bullying, snuggling up to, befriending, produces any change. And you go years, every working day, to the same court house, the same jury room, they same chair at the same table, hear the same arguments, hoping against all odds, that today, he will see the light and switch. You go the next day.

That is today’s Congress. Held hostage by Tea Party Republicans who live in a dream world untouched by the reality of living under $185,000 a year. Like that bought-out juror, every day, they hold up progress with the unjustified belief that, if they wait long enough, the other 11 jurors will give up and sway over to the sole juror’s way….

Two things can happen… 1) return to the public and announce a hung jury, and do a complete retrial.. or 2) sneak up to that one juror, put a gun to his head, say nothing, pull the trigger, clean up the mess, dispose of the body, then go out to the public and announce what the 11 of you have decided…..

One is the nice way, sanctioned to due process of law. The other is the American Way.

It’s time to initiate the kavipsian policy of expression or what is otherwise known as “Show Us How You Really Feel”… Who knows? It could become the next great movement? The next time someone you know (or don’t), says anything about how millionaires should keep their tax cuts and the poor should pay, nod your head in agreement, smile a little bit, then hit them as hard as you can in their mouth, I mean as hard as you can! Put them flat on the ground holding their jaw… Then loudly say, “Don’t every talk that stupid way to me again!” Who knows, if 99% or all 303,930,000 would respond that way to our fellow congressional delegates, and the other 3.9 million of their like who advocate such madness, we might actually get the very progress we need, not because of intimidation, but because such policy is right….

For those who argue expression of violence is un-American, I’ll remind them that tonight, is John Wayne Night on AMC: view it!… I argue that such action is VERY American and perhaps it has been the lack of such spontaneous expressions of frustration from working American people, that has caused the logjam where nothing gets done because of one holdout, who thinks he can sway the world to his opinion and face no consequences… ….

Practice now, by punching brick walls.

It’s funny what you get from the little bylines down at the end of a news story. Putting them together creates a truer picture than the one allowed past the paper’s corporate sensors. lol.

I was over at Nancy’s and came across this article which had this article linked to by the words Federal Deposit Insurance Commission.

You may have seen the headline without seeing the number behind it. This headline has the number.

FDIC To Cover Losses On $75 Trillion Bank of America Derivative Bets

Within that story is a link to Bloomberg which states:

Bank of America’s holding company — the parent of both the retail bank and the Merrill Lynch securities unit — held almost $75 trillion of derivatives at the end of June, according to data compiled by the OCC. About $53 trillion, or 71 percent, were within Bank of America NA, according to the data, which represent the notional values of the trades.

That compares with JPMorgan’s deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm’s $79 trillion of notional derivatives, the OCC data show.

So unless you were putting numbers together, you are probably not aware that our two major banks, are $154 Trillion in the hole…

How much is that? A lot. THE ENTIRE GDP OF THE UNITED STATES IS $14.5 TRILLION DOLLARS. THAT MEANS IF EVERY DOLLAR AND CENT OF THE UNITED STATES ECONOMY WERE SPENT TO PAY OFF JUST THE DERIVITIVES THAT PHIL GRAMM DEREGULATED SINCE 2000, IT WOULD TAKE MORE THAN TEN YEARS.

Before you panic, consider this. These totals are stretched over time. That is the same ratio as someone making $50,000 who bought a new house whose total cost was $533,000…

Ok, NOW PANIC!!!!!