Novice Politicking

Below is an article emailed to me through our research department at our company today... Bold and red emphasis is mine.  For some reason bureaucracy trumps free markets.  Who gets to decide what type of company "threatens" the economy, and whose definition of what economy is will be used?  This is right up there with the new reporting requirements for purchases made over $600.00 which was part of the Health Care Bill... what does me buying $601 worth of lumber at Home Depot have to do with Health Care, and why exactly will I be having to give my social security number to do so?  See the next article I'm posting today, a link to Jim Sinclair's website, JSMineSet.
 

Be careful what you "HOPED" for, here we come socialism... no wonder Europe is so happy with our direction now, they now know how poorly their attempts at democratic socialism has failed (as example, see last three months for the European Union) and they're ecstatic to see our own eminent failures.  I'm sure Russia is laughing the hardest.  We fall subject to the same garbage we fought so hard against.
 

The government now owns more residential real estate than our citizens do.  Our farmers are barely able to keep their heads above water due to existing taxes.  The Bush tax cuts set to expire.  Reporting requirements will increase... most importantly, rates CANNOT go lower from these points, and if QE (quantitative easing) is not set to increase, than the pressures felt that are sold to us as being called "deflation" is a guarantee.  Although we may not see actual "deflation" of the money supply but instead what the bobble-heads tell us is deflation (which of course is another word that has taken on a whole new meaning than what it actually means in the last few years).  This is then called "stagflation" where the inflationary pressures attempted by congress and the fed are not working regardless yet we still see negatives of deflation, like increasing unemployment and decreasing productivity.  With no viable options as rates increase, imagine a world appearing as a deflationary depression but increasing commodity and gold prices due to lack of investment options and devaluations of the dollar regardless of increases in interest rates.  The perfect storm brews.   
 

Interested to see these elections.  Including the nationwide GOP fury with the Dem's, will we see a dramatic reversal of party lines in Congress?  Could we see more Dem's who once were so aggressively on the Obama/Pelosi bandwaggon's present moderate arguments?  Job security is Job No. 1 in Washington, and the only loyalty is to the paycheck.  The real question is, is there a party line out there who seeks to empower the Middle Class and Small Business with friendly legislature, decrease the size and scope of the government and unfortunately increase certain taxes and probably interest rates to get our budget in line?  Now I'm sure most everyone reading this is cringing at that last statement, but no one liked Volcker at first... emphasis on the phrase, "at first" as Paul (no, we are not on a first name basis, but it would be an honor to be) inevitably dampened what should have been a much larger crisis... We can thank Alan "Darth Vader" Greenspan for resuming the immediate gratification of measured inflation. 
Sorry for the rant... please enjoy the below article..
 

Congress sends Obama sweeping Wall Street bill
By JIM KUHNHENN, Associated Press Writer Jim Kuhnhenn, Associated Press Writer 15 mins ago
 

WASHINGTON – Congress sent legislation to President Barack Obama Thursday that imposes sweeping new regulations on Wall Street and creates new protections for millions of consumers.
 
The Senate's 60-39 vote came nearly two years after a financial crisis knocked the economy to its knees.
At a whopping 2,300 pages, the legislation is designed to rein in big banks and protect consumers in hopes of averting a repeat of the 2008 financial crisis. Its ultimate impact, however, will depend on the government regulators assigned to implement it.
 
The legislation gives the government new powers to break up companies that threaten the economy, creates a new agency to guard consumers in their financial transactions and shines a light into shadow financial markets that have escaped the oversight of regulators.
 
Named after Senate Banking Committee Chairman Chris Dodd and House Financial Services Committee Chairman Barney Frank, the legislation ends a trend to ease regulations and clamps down on the financial industry in ways unseen since the Great Depression.
 
Republicans cast the bill as a vast government overreach, and were betting that voters' antipathy toward big government and their worries over jobs would trump their anger at Wall Street in the November elections.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
 
WASHINGTON (AP) — Congress is sending legislation to President Barack Obama imposing sweeping new regulations on Wall Street and creating new protections for millions of consumers.
 
The Senate passed the massive overhaul Thursday, nearly two years after a financial crisis knocked the economy to its knees.