Success & Disaster: Natural Progression

In a previous blog your author saluted the achievements of magazine pioneer and profile in Black American success John Johnson. It pleased your author this week when he read this -Black-owned businesses in America grew 45% from 1997-2002, as indicated by the US Census Bureau. Most of these entities appear to be self-proprietorships or businesses with just one or two employees. Additionally according to the Census Bureau the majority of these businesses are found in New York, California, Florida, Georgia and Texas. Your author again salutes Black achievement in making solid inroads in the free market system.

Now with this great news what has been the response by the so-called Black leadership? Your author will identify them as the following: NAACP, Louis Farrakhan and the Nation of Islam and Rev. Jesse Jackson of the Rainbow PUSH Coalition. Why not? This is a group, minus Rev. Al Sharpton, that makes the headlines. Well strangely enough, following a review of their respective web pages, your author could find no mention of this profound declaration of Black achievement.

NAACP's webpage greeted the author with continual references to the aftermath caused by Hurricane Katrina in New Orleans and concerns over Medicaid/Medicare. The civil rights group also stated that race and urban location may be a factor when attempting to gain access to healthcare, according to a report labeled NAACP Urges Passage of Tri-Caucus Healthcare Legislation to Address Disparities Affecting Racial and Ethnic Minority Americans. To their credit the group is actively attempting to bus in displaced New Orleans natives to vote in their mayoral election.

Farrakhan and the Nation of Islam (NOI.org) greets the viewer with the Minister's recent visit to Cuba. The photo shows a smiling Farrakhan shaking hands with Cuban dictator Fidel Castro. The visit was described as being 'anticipated and successful'. While shaking hands with the dictator, who has caused his island country to fall near the brink of poverty in his failed socialist revolution, Farrakhan felt it necessary to remind everyone in attendence that President Bush had declined Cuba's offer of 1,600 doctors to assist in the Hurricane Katrina aftermath. Minister Farrakhan was part of a twenty three member group in Havana to study disaster relief preparedness. Since I have experienced several hurricanes in the past I can probably could have spared NOI a plane ticket and told Farrakhan-leave, leave long before the storm hits the shore. I can only wonder if the Minister was able to travel outside Havana and see the impoverished conditions of Cuba?

Farrakhan summed up his visit in an essay entitled The Good Samaritan; A study of Cuba. He praised Cuba's response to hurricanes, noting that there had been no loss of life or property damage. Well Minister Farrakhan would Cuba even bother reporting on a death toll? More importantly when the rank and file of the island's citizenry live in huts how can one assess property damage? Yes I know Minister this doesn't compare to the greatest nation that has allowed you and the NOI exist compared to Cuba, where the self appointed dictator would have shut the lights out of an organization such as yours and where they have no freedom. Farrakhan then went on to say that the United States was a Christian hypocrite, who hated their neighbor because they are socialist. No, quite the opposite Minister, asked the Cuban refugees, those who lived and died coming to America. They hate Castro and his legacy of poverty. You see Minister freedom to these refugees is worth dying for, better to die free then live under a regime. This is a point obviously not considered during your rant.

While over at Rev. Jackson's Rainbow PUSH Coalition's site, where the viewer is greeted with a flash of photos showing Jackson through the years, nothing is mentioned on the Census Bureau report. The 'good Reverend' who counseled then President Clinton during his adultery fiasco with a White House intern while he had fathered an out of wedlock child himself, is having his crew rally behind trying to change Medicare drug reform. Minister Farrakhan states we don't take care of our own in the realm of healthcare while the NAACP and Jackson believe more should be done, you decide. Reverend Jackson reminds the reader that on April 29th (go grab a pen and paper to jot this down) he will be marching in New York City for 'peace, justice and democracy'. Here is a clue Reverend, America is the poster boy for all three and only in a free nation can you demonstrate, a point you appear to have forgotten. Finally Jackson has penned an essay relating to the recent Duke University lacrosse team case, where a stripper has claimed she was raped and yet there is no DNA evidence to substantiate these claims. Your author only scanned through the essay, it brings up facts that are not relevant to the case. Ten to one says if Duke donates to Rainbow PUSH Coalition, Jackson and his crew will head back to Chicago. Any takers?

Each of these groups have been critical of the Bush administration and their handling of the New Orleans Hurricane Katrina disaster relief. Your author has already commented on this at the time it transpired. However it was the failures of the New Orleans local government, led by Mayor Ray Nagin and Louisiana governorKathleen Babineaux Blanco along with social welfare state that plagues the state that should be placed under the microscope. What did they want the Bush team to do? Some have said send military troops. This cannot simply be accomplished, not according to the US Constitution (a document that enables these critics) as it states in Amendment III.

No soldier shall, in time of peace be quartered in any house, without the consent of the owner, nor in time of war, but in a manner to be prescribed by law.

Now whether or not any of these groups, individuals or other groups critical of the President were aware of this is secondary. It is obvious that most of these fringe operators, which is also quickly encompassing the mainstream media, are clueless to this important document. No what is important with this post is to demonstrate how out of touch the so-called Black leadership (identified by the mainstream media as such) with Black America. Call it that small voice inside your author's head but something tells him that the 1.2 million businesses owned by Black entrepreneurs, churning out $89 billion in revenues, that grew at a rate 45% from 1997-2002, aren't paying Jackson, Farrakhan and the NAACP much attention. They have realized it is achieved by one and not a group, which is what socialism prescribes in its bare essence.

For the record here are the statistics for 1997-2002.

• The number of all U.S. businesses grew by 10% to about 23 million.
• The number of businesses owned by women grew by 20% to 6.5 million.
• The number of businesses owned by men grew by 16% to 13.2 million.
• The number of Hispanic-owned businesses grew by 31% to nearly 1.6 million.
• The number of businesses owned by white entrepreneurs grew by 8% to 19.9 million.

Black entrepreneurs owned 1.2 million companies in 2002, or about 5% of nonfarm businesses. Hispanics owned about 7% and women of all races and ethnicities owned 28% (US Census Bureau).

Upon reading the press release for this fantastic news Commerce Department's Minority Business Development Agency chief Ronald Langston commented and I will conclude with his words: "We do have challenges. We are making progress, this is the real challenge: to move these smaller businesses into the next step of growth."

These are genuine results, true achievement and tangible evidence of Black America; not the rhetoric and balderdash spread by these press dubbed 'leaders' for their followers are becoming fewer and far between.

infinitespeculator.com

Clinton and Cruise-Reality Check

A few days back Senator (D-NY) Hillary R. Clinton, a mover and shaker within a dismal political party, said the following regarding potential threats to the US's current robust economy:
"skyrocketing health-care costs, widening trade and budget deficits and disappearing middle-class jobs."

The health care moment was a mere recollection back to her first few days as the First Lady. It was then that Senator Clinton formed an 'exploratory committee' to entertain the idea of socialized medicine. Fortunately is much to do about nothing especially when it became obvious that an overwhelming of Americans were not in favor of such program. Anytime an American proponent of socialized medicine suggests we must have such programs everyone who values good and sound healthcare must asked themselves the following-'has this person ever lived in a society where such program has been enacted and what have been the long-term consequences'. Without a doubt your author can assure you they have not and such programs produce long term bleeding spicket effects. Often times patients, who have no choice other than to do without, are left to die literally waiting in line. Doctors and other healthcare professionals flee the country for other places that do not have such social programs and wages are competitive. Socialized medicine caps earnings potential and research flounders, there are no initatives.

The growing US trade defecit, which to hear Clinton like minded folks speak of just popped up overnight, has long been a problem with the States. However a large portion of this deficit is due to imported oil. How to solve this problem? Well you can opt out for alternative energy, which has made significant progress in recent years or we can drill off our coasts. The problem with the latter are environmentalist types that are from the same ilk as Clinton.

The budget defecits can be resolved by overhauling the complex and inefficient tax code that is presently in place. One school of thought is a fixed income tax. Yet another is a national sales tax coupled by repealing any income tax. While both have their merits and are better than the current chaotic system, a consumer driven economy should be driven with a consumer tax. Yet neither of these suggestions made so much a consideration during the eight years of the Clintons. Now discussion of such items is more commonplace and it is only a matter of time.

When asked about the current financial crisis happening at General Motors, Ms. Clinton was asked if the federal government should step in and assume GM's mounting pension debt. Her reply: "the government could help by relieving some of the costs auto companies bear for retiree health care in return for getting them to 'expedite a move toward energy efficient products'.''

As always Ms. Clinton offers no solution to what is going to become a serious quagmire in the future for many key industry players. She believes in creating a bigger welfare pool instead of overhauling current pension laws. Of course this all based on cow dung (methane) operated automobiles. However the energy need and price incline was never addressed during her eight years as First Lady. No instead everything was just fine while gas sat at less than a dollar per gallon.

Once again Ms. Clinton has provided no answers. Although not officially declared, Ms. Clinton is thought to be a guaranteed nominee for the Democrat party in the 2008 presidential election. Who would elect her? Only to see Billy ride in again with his gaggle of misfits including but not limited to Robert Reich, Madeline "Put America Last" Albright, Janet "Ms. Indecisive" Reno, Leon Panetta, Warren "Lawyer Hack" Christopher along with any leftovers nuked from the Carter administration?

A Not So Silent Hypocrite

Famed Hollywood star and practising scientologist Tom Cruise has said he will allow his girlfriend actress Katie Holmes to use painkillers during the birth of their child. This contradicts his previous criticism of actress Brooke Shields and her use of ant-depressants during episodes of post natal depression. Scientology practises or at least claims to practise 'silent birth' void of little medical interaction.

Holmes had to disavow her Catholic faith to be the lovely side companion to the popular Cruise. The actor, who your author has previously stated lacks true theatatrical talent and only possesses pretty boy charm, clearly stated that he and Holmes are pure Scientologists. Miss Holmes' family is said to be skeptical of Cruise, his religion and having a child out of wedlock.

Finally it should be noted that Scientology was founded by L. Ron Hubbard. He was a known liar when it came to academia claims, authored several fictional works centered around the pulp era of writing and later became a bit of a self improvement guru. Later in life, after having founded Scientology, he created his greatest achievement as a widely distributed author. It should be noted that his works were aimed directly at his followers, which provided an immediate albeit small in size audience.

Unions Rightfully Sold Down The River, Si Senor!

Today your author read where Transport Workers Union Local 100 President Roger Toussaint may find himself in the pokey. As many recall it was Toussaint that led the transit strike in New York metro despite warnings from a judge and Mayor Michael Bloomberg. The final gavel, besides the insignificant lingering 10 day trip behind bars and $1,000 fine, will be when Toussaint signs the check for the $3 million fine imposed on his union by the district court.

Let us recall what the union wanted-a significant increase in pay and paid healthcare insurance. During the 60 hour strike MTA union members created an internet message board to get a feel for their support from New Yorkers. A summary could be described as follows: "Get back to work! I wish I made what you are asking along with the 100% paid healthcare benefits! Public transportation 'ain't' cheap!" The majority of combined responses did not support their strike. Needless to say this was a serious blow to the rank and file when they quickly realized a potentially nasty public would be facing them upon their return.

Organized labor has been on a fast and slippery downhill decline for the past thirty years. In the decades prior to modern day labor law they did serve a useful purpose. This was when men and children worked 80 hours for peanuts (sounds similar to the current labor pools that can be found in China). However in this day and age of global competition they should be relegated to a museum along with the buggy whip and carriage.

Unions themselves hold much of the blame as the guilty party for throwing such cities as Cleveland, Detroit, Rochester, Buffalo, Toledo and Gary, Indiana into forms that are mere shells of their former selves. Detroit and Cleveland in particular have experienced a severe economic downturns as industry no longer to compensate higher demands from unions seek shelter or cease to exist. Competition is everywhere-academia, athletics and industry. Labor pricing is not immune to this element.

What the rank and file of any union should be asking themselves is not whether to strike or not, that will only accelerate the downhill pace of decline but rather what has the union done for them. By all evidence the union body has done next to nothing while the inevitable became a reality. Thousands of union members have stipends from their paycheck deducted on a regular basis. These funds are sent to the governing union body. What is facilitated by this extracted annuity? It isn't benefits packages or retirement, no the vast majority goes straight to political contributions. The National Institute of Labor determined that in 2004 $925 million of these dues were sent to political causes, most notably the Democrat Party. One would think that for their hard earned money they would have invested it wisely but that is not the case as Republicans continue to take the lionshare of political moxi. Not since the Nixon reelection campaign of 1972 have significant amounts from organized labor been funneled to the Republicans.

Due to the exborbitant demands placed on industries by the unions the need for practical and cheaper labor became critical. This is where big labor gets it wrong. For they are, whether they admit this or not, pure socialist. The big unions either believe it or try their best to sell that somehow they are entitled to more than a fair share of the profits generated by their employers. This is a mere 'redistribution of wealth', a fancy descriptive for socialism and social welfare. The phrase harped on to ad nauseum by New York Democrat Senator Hillary Clinton. With this type of thought process or belief system only two things will transpire for the long term-businesses cease to invest because their is no incentive thus causing them to become obsolete or they shut down.

Now consider the current immigration fiasco that neither party is willing to touch and at best can barely look at it with their eyes wide open. As stated the wave of foreign workers, illegal and legal, spurned out of the necessity for cheaper labor. Democrats (often fundamentally socialist leaning) will say 'the rich fat cat executives only want to get rich and care little for the workers'. Well yes they want to get rich, a fundamental principle of capitalism and free markets. However the portrayal of downtrodden workers at the hands of a rich overlord harkens back to the era Charles Dickinson and the early industrial age. As previously stated modern federal labor laws have addressed these ills. In other words the Democrat Party and big labor's argument are antiquated and at best have little relevancy.

Your author listened to Massachusetts Senator and Democrat Party icon Ted Kennedy attempt to affect a Spanish accent while addressing a group of Latino protestors. Senator John McCain, who barely cuts the mustard as a Republican, joined Kennedy in an attempt to institute new immigration policies, which amounted to a load of loopholes and delegitimizing of the foreign worker visa program, that fortunately failed to pass the Senate.

If big labor is losing clout by the handfuls with each passing election year and Senator Kennedy is doing his best, albeit comically, to resonate with Latino supporters who wish decriminalize illegal passage into the United States; then who is looking after the rank and file of organized labor? In other words why hasn't the Democrats been asked this by the same union that has been historically a guaranteed cash cow?

For more fun facts about the truths and organized labor, check out Union Facts.

Critical Update

Just when your author was about to say something redeeming about France, Chirac goes and blows it for him. Your author mistakenly thought France had teeth behind the recent labor law that allowed employers the right to fire employees that were 26 and younger. Now things have changed dramatically with French President Jacques Chirac pulling a 180 and yanking the law, bowing to protestors. Hey let's institute some economic reform, better not have any protestors or we will fold to the pressure of whining college students.

If a few protestors, your author has it under good authority that the number was significantly exaggerated by the American media machine, can thwart off attempts for the French government to institute labor laws and attempt to improve their production; then how well have they dealt with the prior riots involving Muslim youth? Your author would be willing to bet the farm if he owned one that little has been done to prevent another bonfire from occurring. France crumbled and only a negative impact has been left. Say au revoir to civility and bonjour to future calamities and socio-catastrophes!

Meanwhile the media has been filling the waves with blow by blow coverage of the Italian election. Your author has commented enough on the prior two most recent entries and will spare his audience. Whether the incumbent narrowingly takes the cake or the left leaning Romano Prodi is given the honours, there is no solution and appears to be none on the horizon.

If you listened to American media you would think that the domestic society is on the near of collapse following the Senate's failure to pass serious immigration reform coupled with the Latino led protests. What exactly are they protesting, one is not sure and their opinions take two sides. One such side is for what is comparable to amnesty while the other is declaring tough immigration laws. Some of the more brazen protestors brought out the flag of Mexico, which in your author's opinion must symbolize some pride or patriotism. However why do the protestors identify with the flag of a country they in all actuality are fleeing from? Someone must have said 'best not to fly that too high'. These protestors bring out the best and clearly can be seen as a tool for the left. From what your author gathered the majority of them have been ditching free public education or college courses to get in front of the television screen. Sounds like they may have some French revolutionists on their side.

Politicians, Promises and Pork

A few things of interest.

Le Miserables Is Miserable
The death of socialism proves to be a long and dangerous road. In France students are protesting, which has gone from demonstrations to rioting. The country passed legal measures that allow businesses to fire workers under the age of 26 without having to negotiate with a union or offer severance compensation. In other words allow business owners to be true business owners. The outcome from the citizenry have been predictable. They are in essence protesting their ‘right’ to engage in poor work performance and laziness. Surprisingly the French government bit down and refused to grant concessions. Now contrast this with what is going on in America. The illegal immigrant problem, which stems primarily to the lack enforcement with America-Mexico border, derives their problem with those who want to work.

All Eyes On Mollohan. Who?
Who is Mollohan? Well he is West Virginia Dem. Congressman Alan Mollohan. One could speculate that Mollohan may fill the shoes for the long time West Virginia Senator Robert Byrd, formerly of the KKK. While the Democrats are grabbing for anything to stick to President Bush-the Abramoff scandal, the war in Iraq, his low approval numbers Scooter Libby and the list goes on-Mollohan may prove to be the most irreprehensible of them all if the allegations are true. One would have to comb the Wall Street Journal to find the entire story and predictably the big media machine of America provides a different angle. With editorials railing against Bush, Cheney, Rumsfeld, Condi Rice and what they had for breakfast; they have yet to voice their concerns with Mollohan.

As representative Tom DeLay opted not to seek re-election, which caused a fizzle in the Democrat party’s war chest, Mohollan has declared he will not step down from Congress’s ethics committee. Nancy Pelosi, Democrat party top dog, has refused to address this dilemma.

Just who is Rep. Alan Mollohan? Well the twelve term congressman has been able to slip or ‘earmark’ funds for special pet projects in his home state. The funding, a total of $178 million in the past five years, facilitated the nonprofit institution that have spurned job growth. Sounds great, right? This would be nice except for Mrs. Laura Kuhns. She heads up the nonprofit group known as Vandalia Heritage Foundation. The group is financed from the funds that Holloran was able to steer towards his state. Vandalia along with several nonprofits Kuhns heads up are overseeing the construction of the Institute for Scientific Research, which is located in Fairmont, WV. It should be noted that, according to The Journal, Kuhns earns a salary of $102,000 from her nonprofit work and is a former Mollohan staffer.

While Mollohan may appear to wash the backs of this former staffer with his ability to land financing, his is equally clean and with great reward. Mollohan and his wife are partnered with Kuhns and her husband on several real estate partnerships. These include ones located on Bald Head Island, NC that are valued at around $2million (tax assessed). Furthermore rental income from these properties has allowed the Mollohans to invest in other properties on their own. It should be noted, according to The Journal, that none of the properties were located in the Congressman’s home state.

Strangely enough Mollohan has only now stated he become aware of an investigation into his financial transactions. He had previously garnered mentioning when it was revealed that ill famed lobbyist Jack Abramoff’s MZN, Inc, which sought to win influence regarding the Native American casino industry. Mollohan returned the donation. Former Republican Congressman Randall Cunningham of California was sentenced to prison for his role in the scandal. Tom DeLay, Texas Congressman and Republican majority leader, has agreed not to seek reelection. Republican Congressman Bob Ney still may answer to charges. Louisiana Democrat Congressman Thomas Jefferson is still being investigated for his role.

However the press was quick to demonize DeLay, although his charges are about the misappropriation of campaign funds, they cheered when Cunningham was sent off and Ney has already been convicted by them. Additionally the Democrats have sung the same song as well, often screaming cronyism and signs of the supposed ‘corrupt’ Bush party. However when Republican House Speaker Dennis Hastert called for Mollohan to step down from the House’s ethics committee. Democrat Congresswoman of California and House Minority Leader Nancy Pelosi has refused to address the Mollohan’s investigation. Instead and predictably, she said the following:

"Speaker Hastert and his Republican cohorts are responsible for the most corrupt Congress in history, and the American people are paying the price at the gas pump, at the pharmacy and with record-high deficits," Pelosi countered. "The speaker should join me in directing the ethics committee to get to work, and not cast aspersions on the independent and distinguished ranking member."

Part of Pelosi’s anger and denial to address this issue, which if anything questions the concept of ‘arm’s length transaction’ and ‘conflict of interest’, could be the continual slipping slope that the Democrats find themselves in at the present time. She can only criticize and rant against her enemies while shushing her party’s own dirty laundry under the rug. Another aspect is that presently Mollohan faces electoral competition in what is being watched as a key state for the 2006 election. In 2004 George W. Bush swept the state with 56% voting for him. Senator Robert Byrd will enjoy yet again an election year where he faces no competition. If and when the allegations levied against Mohollan ever make it to the front pages and when West Virginian voters see how rich he has become under questionable business transactions, while their state ranks third in per capita income; only then (hopefully) he will be denied Byrd’s heir apparent role. However I would not expect him to retire back to his home state, as his financial disclosure form indicates, Mohollan and his wife can enjoy their real estate spoils on their oceanfront home dubbed the Peppervine House, located on Bald Head Island and not on Mountain Mama.

Italy: Arrivederci!
In a previous blog post the Infinite Speculator criticized the people of Italy and their leaders for their inability to address hard economic reform, scanning through The Economist your author came across the article entitled Basta, Berlusconi (4/6/06 issue).

While the magazine, which has provided your author with great investment ideas in the past, has always been a critic of Berlusconi; they fail to address the seriousness of country’s woes. They cite Berlusconi’s ethics and domination in Italian media, but it would take a success story from the private sector to pull a 180 for the country. They then went on to provide scant detail, very scant detail, regarding Berlusconi and the mafia. I find this strange because while under Berlusconi the camorra (Mainland Italy’s equivalency to the Sicilian mafia.), prosecution and searching down wanted fugitives have hit a feverish pitch but I digress.

The Economist describes Berlusconi’s tenure as a failure. It may have been a failure in the conventional and immediate sense but what is the true failure is the rolling ball of chaos Italy has become at the present. Whether if it was Berlusconi or Il Duce, no elected figure and their party could have curbed what took place in 2005-zero economic growth and growing dependence on the state facilitated welfare system.

However a reformist or at least one that is suitable to The Economist is nowhere to be found, nor to your author for that matter. Berlusconi will probably lose to Romano Prodi, former prime minister and his centre left opponent. Prodi’s crowning achievement was ushering Italy into the Euro currency. This did force Italy to take some serious fiscal reform but later as president of the EU, Prodi proved ineffective and watched as the economic group, which was originally founded on the idea of sound currency, morph into the protectors of socialism. Additionally Prodi, if he wins, will be dependent on a coalition of smaller political parties for support. He will need to grant concessions to Fausto Bertinotti, leader of the Communist Party.

By all accounts the Italian citizenry is unaware of just how bad their economic scene has become. This may prove to be the saddest aspect of them all, especially when one considers Italy is deemed crucial for Europe’s economy, as their country slips into an economic abyss of the likes the EU may not be equipped to handle.

I need surgery-let’s go to Mass
As your author has demonstrated with various essays and opinion blogs, socialism for the long haul almost always fall flat on its face. Economies going on all cylinders could be flying on rocket fuel if they threw off the shackles of socialism. It is the economic theory that wedges between capitalism and communism, attempting to draw upon both. One of traditional hallmarks of socialism has been socialized medicine.

The state of Massachusetts has all but finalized a law, which Republican governor and possible 2008 presidential contender, Mitt Romney has said he will support that will require medical coverage. The government mandated health insurance programs currently in existence is one of the reasons the problems with insurance costs exist however your author will save his assessment until the close of this posting.

What the law states, in layman’s terms, is that employers who do not offer coverage must pay an annual fee of $295 per person. Additionally all others who can afford, must pay for coverage and those who don’t but can, will be fined $1,000. For perspective, the per capita income for 2004 was $42,102 (wikipedia.org). The law allows for those living at $9,500 a year or less free coverage. Those that live at $48,000 or less with a family of three will also have access to free coverage. There is an estimated 500,000 uninsured, which is remarkable when one considers that the state’s population is 6,398,743 (2005).

Now let’s see some figures-

For scenario analysis let us assume that the 500,000 uninsured work for the same employer who pays the $295 per head, which equals $147million. Now according to Kaiser Family Foundation in 2005 single coverage costs nearly $8,000-10,000 per year. A $1,000 fine or $8,000-10,000 a year in coverage? Maybe the estimated 500,000 uninsured represents those who refuse to take on personal coverage this would mean $500 million in fines going straight to the politicians.

Finally for the drum roll-Mass lawmakers have already stated that the first year expected cost will be $316million, given that these are government estimates, one could safely put that figure north of $350millon. By the third year this will total $1billion and once again adjust the figure given the estimation's origin. Furthermore Mass will be eligible to receive a significant portion of funding coming from the federal government and existing state spending. Given the state's past and if this figure climbs higher at a breakneck pace, watch the state government levy additional taxes to compensate the ‘existing state spending’. This is merely a redistribution of wealth, whether it is in dollars or medical service.

While your author applauds the Massachusetts’ lawmakers for their bold attempts it would have been suitable to have this bill coupled with serious tort reform. Why? Well for starters trial lawyers have been getting rich with malpractice lawsuits and it comes at the expense of policy holders. Massachusetts legislators could have put out a referendum where voters could clearly state whether trial lawyers’ fees could be capped. The idea being that true victims of malpractice are justly compensated with a reasonable judgment instead of attaching millions on the original allegations. Maybe change malpractice cases so they would be decided by a judge and not an emotionally sympathetic jury or members of such pool that see ‘payday’ for the plaintiff?

What will become of the medical community? Will doctors and nurses, along with every other profession in the field, leave for states where theoretically their earnings aren’t capped? Don’t think it cannot happen. Currently in Canada doctors, nurses and such are moving to The States. Your author has encountered many our northern neighbors practicing in the field right in his backyard. Your author will throw out some free investment advice-buy stock in insurers and medical saving plans providers doing business in Canada. The government cannot run the system efficiently and more expenses are coming from out of the pockets of Canadians. This free market competition and capitalism 101.

Spiking Rates
Finally and a rather brief conclusion-the unemployment rate is now under 5% for the United States. The 5% is considered a benchmark and by all accounts the economy appears to be going into overdrive. This sounds good but full employment is considered and often results in higher than expected inflation. The Federal Reserve will continue to gradually raise rates in order to offset this assumed outcome of too few dollars buying too few goods. The dollar continues to ‘feel’ weaker and domestic equity markets are exhausting themselves to rally. The foreign markets-in particular the Nordic region, Asia, India and South America have been bull market strong. As the dollar falls in value foreign currencies' values rise, thus appreciation sets in. Investment advice-ditch many US equities and especially homebuilder stocks in favor of commodities and foreign markets. Your author thought that maybe the commodities bull market was slowing with supply ramping up except the demand has kept pace. Buy gold, silver, lead or Japan-just buy!

Thanks for taking the time to read this abnormally long entry!

Infinitespeculator.com

Let Blonds Run The World

Israel and Palestine-Stuck in the mud
By now most know that the Kadima Party has won the majority in the recent Israel elections. The Kadima party was a breakaway party formed by the now incapacitated Ariel Sharon. The party was able to convince some members of the Likud party (right) and Labor party (left) to join their camp in an effort to effectively address the Palestine situation after years of stalled efforts. Ehud Olmert will represent the majority.

The election was a bit of a disappointment producing very low voter turnout and Kadima did not win enough seats in their parliament to exert control. Olmert, who is currently the acting prime minister, needed at least 60 seats out of 120 in what may prove to be a deadlocked government.

Olmert will not only face the fractious representation but the Hamas controlled Palestinian government and by all outward appearances the peace process may be stalled for now. Olmert has already effectively been given a green light to release more of the West Bank and Gaza Strip settlements to the Palestinian authority. However upon hearing that Kadima would win enough seats to set the political tone for Israel, Hamas responded by declaring it would not negotiate and thus only proving that Palestine will only be satisfied once they have dominance over Israel.

If the peace process appears to be stalled, domestically things aren’t too rosy for Olmert and Kadima. They will have to negotiate and give concessions to Labor, which is led by Amir Peretz. Labor wishes to focus on Israel current stagnant economy and attempt to shore up social welfare programs.

In what appeared to have originally been a sign of progress, these election results have already laid the groundwork for what will be uncertain times for Israel. In what began as a significant progress under Sharon has now been forgotten and the Israel-Palestine conflict may be entering a new phase.

Italy-Just plain stuck
In 2001 Silvio Berlusconi became the prime minister of Italy along with center-right party, which captured nearly all representative seats. With an impressive lock on Italy’s political attitude Berlusconi, a billionaire media king, had promised sweeping economic reform. Few results were delivered and in 2005 Italy experienced zero economic growth. Berlusconi offered little in the way of explaining Italy’s economic woes and on a visit to Sicily, a political stronghold for his party, he urged voters not to believe the economic figures.

What should have happened was an overhaul of social reforms the likes the country has never seen in the past. Italy’s overall social and economic structure is saturated with entitlement programs, quotas and extreme government oversight. All this has achieved is the shoring up of small-time, specialty manufacturing that is being gobbled up by cheaper labor pools found in Asia. You can read what has become the inevitable in this article written by your author in August 2005.

What Italy should have done was build up their tourism, being that they are of historical significance and promoted their coastal region. The government could have slashed tax rates, which averages 23% for corporations and ranges from 23-43% for personal income. Then they could have promoted self directed private retirement funds thus curbing the reliance upon their pension for a graying population, a common problem facing most of Europe and finally opening up their banking sector to foreign institutions, thus allowing direct foreign investment.

However, none of these or any type of serious initiatives was proposed, despite the promises made by Berlusconi. If serious and genuine economic reform is not implemented and done so quickly, whether Berlusconi is reelected or not, Italy will face a far worse future.

Finally some humor
Your author could not end without a comment regarding Hollywood, a land of myth and fantasy. The Infinite Speculator wonders if the players themselves do not live in a fantasy land as well.

There are a group of actors who represent a looking good, big salary and little talent pack of pseudo thespians. In this group you could include Kim Basinger, Michelle Pfieffer, Sharon Stone (our subject) and Demi Moore. Now in all fairness their male counterparts include Alec Baldwin (once married to Basinger), Ben Affleck, Kevin Costner, Brad Pitt, Leonardo DiCaprio and Tom Cruise. In all only Tom Cruise is able to ring the register but still the talent is not there while the pretty boy charm and good looks are well placed. In the days of when studio heads controlled the film industry, which resulted in the delivery of a good product, few if any from this group would have made it. This is the same group that often finds themselves in movies that are based on previously done ‘works’ (a word I will use lightly). These fine films include Charlie’s Angels, Dukes of Hazzard, Mission Impossible, War of the Worlds and the Batman series, in other words crappy pseudo thespians for crappy films for the viewer at exorbitant ticket prices. This would probably explain why the Infinite Speculator cannot remember the last time he went to watch a movie at the cinema.

Back to Stone…

Sharon Stone is the personification of a ditzy blond. This past week she was quoted twice by the media. Here is one snippet as it relates to teens and sex:

"I was in the store the other day and I watched a young girl trying on clothes, showing her abdomen. Her mother was trying to talk to her about not being inappropriately luring. I said, 'Gee that would look much nicer with a camisole under.' "Her mother walked away, and I said to the girl, 'I'd like to give you a two-minute conversation about sex.' "Young people talk to me about what to do if they're being pressed for sex? I tell them (what I believe): oral sex is a hundred times safer than vaginal or anal sex. "If you're in a situation where you cannot get out of sex, offer a blow job. I'm not embarrassed to tell them." Source: NewsBusters.org March 28, 2006.

Who is Sharon Stone to give advice over a teen’s parent? Of course providing this claim of counseling actually occurred, which doesn’t seem likely. This from the woman whose greatest claim to cinematic contribution would be her panty-less crotch flash in the film Basic Instinct and several tawdry scenes with Joe Pesci in Casino. One can imagine she is falling back on her professional experience. Where are the feminists? Why can’t Stone say knee the guy in the crotch? Your author feels safe in believing this was just part of the marketing campaign for her newest release that will be discussed at the conclusion of this message.

Stone then was quoted for her expertise regarding the Presidential chances of New York senator Hillary Clinton (she appears to have dropped her maiden Rodham):

"I think Hillary Clinton is fantastic. But I think it is too soon for her to run. This may sound odd, but a woman should be past her sexuality when she runs. Hillary still has sexual power and I don't think people will accept that. It's too threatening." Source: PoliSat.com March 27, 2006.
This is where Sharon Stone lives up to my labeling her the personification of a ditzy blond. Stone believes sexuality or lack of should be a prerequisite for the highest elected office in America. She gets it wrong again with implying that Hillary Clinton has sexual power, alluding that she is sexy or ‘hot stuff’. The Infinite Speculator has yet to find someone else that shares Ms. Stone’s opinion. Maybe Ms. Stone was confused with the other half of the Clinton combine?

Alas an explanation may be provided for these ridiculous statements, words mind you that consumed precious oxygen to utter, for Ms. Stone was set for the release of Basic Instinct II. This must have been part of her marketing blitz. These words fell either on deaf ears or were met with laughter. The film, well it has been a flopped too and Ms. Stone’s career will predictably continue to slip, no matter how many times she flashes her crotch.

Infinitespeculator.com