Main Street
Quote For The Week
In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality… Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up.
Something will break very bad.
-”Doctor Doom” Marc Faber, Swiss-born investment adviser/fund manager and publisher of the monthly investment newsletter The Gloom Boom & Doom Report, who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for predicting the 2008 global financial crisis (among other calls), in an interview published on The Globe and Mail (Canada) website on May 8, 2013
Glenn Beck: ‘We Are The First Responders’
Glenn Beck, the conservative radio/television host, political commentator, and author, gave the keynote address at the National Rifle Association’s 2013 national convention that just wrapped up in Houston. Beck, who I actually met and spoke to briefly when I was in Dallas at the end of March for the FoodInsurance™ “Ready, Set, Prep” Summit, pointed out the following concerning the term “first responders” as he spoke about different firearms that “tell the story and teach the story of the 2nd Amendment.” From his speech:
9/11- Walter Reaver’s Revolver
September 11th, 2001. A moment in history that will define this generation. While victims were running away, men, were running into those buildings. Amazing men like young Walter Weaver, a member of the NYPD and an NRA life member. He was last seen in the World Trade Center trying to rescue people. He was in the lobby trying to free people trapped in an elevator. A servant fighting for the individual’s freedom until the very end.
After the towers fell and the nation mourned, we sifted through the rubble, this is all that was left as a reminder of Walter Weaver. A silent token of liberty.
Walter Weaver, I’m sure wouldn’t want to be called a hero.
He was simply an American.
He was an example of what we all should be—men, who just do the right thing when time calls our name.
When there is an emergency or trouble we are the ones that should run to help. We must be the action on the other end of the 911 call.
I don’t know, but I believe Walter Weaver would tell you that he wasn’t trained to be hero by the police academy.
But he was raised in a culture that taught him about self-sacrifice and to always do the right thing, even when no one else is watching. He had those things long before he wore a uniform.
How many of us can say that.
Good cops, bad cop, it doesn’t mean you take all the badges. It’s the people, not the badge.
As good as the policemen in our country are. When you are in trouble the average police response rate is 8 minutes; most crimes take less than one.
If a responsible citizen with a gun had been in that movie theater in Colorado, or if members in the audience in that theater were allowed to bring their gun into the theater and not leave them locked in their cars, how many lives would have been saved?
How many of the mourning, children would instead have been able to spend time over breakfast with their mom or dad this morning if someone good was allowed to have a gun?
While our politicians from the local to the federal level have spent us into oblivion, and our public services are being obliterated and our police force is being cut.
I will no longer accept the media falsehood nor reinforce it by calling our brave men and women in blue on our cities and streets first responders. It’s time for America to recognize WE are the first responders.
They are the 2nd responders, we are the first responders.
When there is trouble let us be the first on the scene to help.
Let us be the first responder when someone is sick or hungry or frightened.
Let us be the first to share our bread with the hungry; Let us be the first to open our hearts to the homeless poor; Let us be the first to remove the yoke of injustice.
I don’t know what America will choose. But for me and my family, I choose to stand with courage. I choose to stand with selflessness. I chose to stand with God with Malice toward none and charity to all.
That’s who we are.
Forget what the media says, I know that’s who we are.
You can read Glenn Beck’s entire speech here on GlennBeck.com.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
More Video Surveillance Cameras Coming To A Public Place Near You?
As I watched the television news coverage on the Boston terror attack right after it happened, one of the “talking heads” noted what some person responded with when asked what they thought would come from all this:
Less freedom.
While I support the law enforcement community and their mission “to serve and protect,” I am concerned about what I see is a steadily-developing Police State in America.
Regrettably, there are a number of civil servants who give public service a bad name in their lust for private glory and control over others.
I should know. I’ve met and worked alongside a few of these individuals during my past employment in different levels of government.
(Editor’s note: It’s been my experience that the majority of public servants are good, hard-working people who realize they answer to and work for you. Unfortunately, there are plenty of “rotten apples” in the barrel as well.)
One of the features associated with the Police State is the proliferation of video surveillance cameras in public places. Here in Chicago, these monitoring devices now number 22,000 according to an AP piece that was published earlier today.
Rather worrisome are the results of a recent poll conducted by The New York Times and CBS News asking Americans their views on security issues after the Boston Marathon bombings (April 24-April 28, 965 people surveyed), which could be construed as Americans being open to the increased use of surveillance cameras. From The New York Times website Tuesday:
Some people think installing video surveillance cameras in public places is a good idea because they may help to reduce the threat of terrorism. Other people think this is a bad idea because surveillance cameras may infringe on people’s privacy rights. What do you think?
Survey said…
• 78 percent good idea
• 16 percent bad idea
• The remaining 6 percent replied “both,” “don’t know,” or didn’t answer
In the wake of this poll, the Associated Press’ Tami Abdollah reported this morning:
Police and politicians across the U.S. are pointing to the example of surveillance video that was used to help identify the Boston Marathon bombing suspects as a reason to get more electronic eyes on their streets.
From Los Angeles to Philadelphia, efforts include trying to gain police access to cameras used to monitor traffic, expanding surveillance networks in some major cities and enabling officers to get regular access to security footage at businesses.
(Editor’s note: Italics added for emphasis)
Abdollah added the following:
Dozens are said to sit today around the house of George Orwell, the author of “1984,” a story that foretold of a “Big Brother” society. Privacy advocates in the U.S. are concerned that the networks proposed by officials today could grow to realize Orwell’s dystopic vision.
I’m no “privacy advocate,” but the danger of these cameras being used for purposes other than fighting crime (monitoring political opponents and so-called “enemies of the state” comes to mind) probably isn’t too far of a stretch of the imagination.
When it comes to the continued proliferation of these video surveillance cameras, it’s wise to remember what Orwell penned in 1984:
The end was contained in the beginning.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Sources:
“Americans on Terrorism Threats.” The New York Times. 30 Apr. 2013. (http://www.nytimes.com/interactive/2013/04/30/us/poll-terror-graphic.html?ref=us). 2 May 2013.
Abdollah, Tami. “Police, politicians push surveillance post-Boston.” Associated Press. 2 May 2013. (http://news.yahoo.com/police-politicians-push-surveillance-post-boston-084307887.html). 2 May 2013.
Quotes For The Week
Two for you this week from state lawmakers down South…
I wonder how many Boston liberals spent the night cowering in their homes wishing they had an AR-15 with a hi-capacity magazine. #2A
-Arkansas State Representative Nate Bell (R-Mena), in an April 19 tweet
I am the senator. You are the citizen. You need to be quiet.
-North Carolina State Senator Tommy Tucker (R-Union), to a newspaper publisher at an April 16 public hearing. Senator Tucker disputes the quote.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Spring Break Over, And Stupidity Still Reigns
I’m back.
And it’s discomforting to know the world I “left” for a few days remains more or less the same.
Led by a man some refer to as “President Sparklefarts” (not too respectful if you ask me, although I have heard that respect is something that must be earned), many Americans continue to grasp onto some mythical notion of utopia on earth.
Or at least here in the United States.
One nation, under God (maybe not), with moonbeams and butterflies for all.
While at the same time, accountability, civic duty, common sense, humility, maturity, morality, and reality become increasingly alien concepts.
Did I miss anything? This Gevalia coffee is playing with my head tonight.
Upon returning to my well-worn keyboard (give me an A! no, really), my mind brings me back twenty years or so to when I first watched the “Dish and Dishonesty” episode of the British sitcom Blackadder (back then I was mocked for watching British TV; these days, if you’re not a fan of Downton Abbey, you’re not “in with the in-crowd”). From an exchange between Baldrick and his boss Blackadder:
BLACKADDER: We are reprieved. It is a triumph for stupidity over common sense.
BALDRICK: Thank you very much.
BLACKADDER: As a special reward, Baldrick, take a short holiday. [Pauses for a second.] Did you enjoy it?
“A triumph for stupidity over common sense.”
“A short holiday.”
I can relate on both counts.
Illinois Public Pension Funding Gap Now Over $100 Billion?
It’s been depressing to watch the public pension funding gap keep growing here in Illinois.
The last time I blogged about the subject (March 4), the unfunded debt to the five state pension systems amounted to $96.8 billion.
When I first reported on the public pension crisis on April 28, 2011, state employee pensions were underfunded by more than $80 billion.
And this weekend, I saw on the Crain’s Chicago Business website that the pension shortfall has now passed the $100 billion mark. Paul Merrion wrote this weekend:
Sometime this month, Illinois probably exceeded $100 billion in pension debt, a sorry milestone in the state’s long slog to fiscal hell.
Illinois would be only the second state to reach the 12-digit mark. But California, the previous epic fail, has a much larger tax base and is on the mend.
Pension statistics tend to make eyes glaze over, and the $100 billion moment is an unofficial, back-of-the-envelope calculation. But it’s an undeniably big and potentially symbolic number as state legislators wrestle with the shortfall in money owed to current and future retired teachers, judges, state workers and even lawmakers themselves.
(Editor’s note: Italics added for emphasis)
“A sorry milestone in the state’s long slog to fiscal hell.”
Nicely-worded. And something the state’s residents really need to digest, seeing that “every man, woman and child living in Illinois” is on the hook for $7,767 for this debt according to Merrion.
I’ll tell you one thing. Hearing this latest fiscal faux pas makes me question the wisdom of buying a home in the state this spring considering what looks to be coming down the pipeline. Which sucks, because rents are astronomical for suitable property in the areas where my girlfriend and I prefer to live.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Merrion, Paul. “Illinois hits a sorry milestone.” Crain’s Chicago Business. 25 Mar. 2013. (http://www.chicagobusiness.com/article/20130323/ISSUE01/303239976/illinois-hits-a-sorry-milestone). 25 March. 2013.
Chicago Fast Becoming Undisputed ‘Gang Capital Of America,’ Needs More Police On Streets
“Illinois is number one per capita in gang membership for population. We have more gang members in our state, it is a long-term economic threat to our future.”
-U.S. Senator Mark Kirk (R-IL), in a phone interview with the Chicago Sun-Times that appeared on their website on March 15, 2013
Last Thursday, Chicago Mayor Rahm Emanuel unveiled the “Chicago Plays” Playground Program, where the Chicago Park District will rebuild, repair, and refurbish 300 playgrounds in neighborhoods across the city over the next five years using capital funds.
On Saturday, the Mayor announced more city dollars will be used to develop seven targeted Chicago neighborhoods through a new “Opportunity Planning” initiative.
Now, these sound like terrific projects. However, as Chicago is increasingly-seen as being a “war zone” these days, posing a real threat to the local economy (tourism, businesses) and the retention of residents, wouldn’t it make more sense that municipal funds are concentrated on combating violent crime first?
A serious effort to address the manpower shortage in the Chicago Police Department is probably a good place to start, with more cops on the streets (paid via overtime) possibly contributing to the historically-low number of murders in Chicago last month.
Otherwise, should crime be allowed to run rampant, the proposed developments may end up being pointless and those rebuilt, repaired, refurbished playgrounds might be empty, save for some gangbangers watching over their turf.
And Chicago has plenty of those around these days.
Consider the following from the website of Chicago Crime Commission, an independent, non-partisan, civic watchdog organization of business leaders dedicated to educating the public about the dangers of organized criminal activity, especially organized crime and street gangs. Talking about their recent publication, The Gang Book 2012, a comprehensive compilation of data and information concerning street gangs in the Chicagoland area, the Commission said:
There are an estimated 70 to 100 gangs in the Chicago metropolitan area with a membership of between 68,000 to over 150,000.
“Over 150,000”
Back on March 2, 2011, I blogged about DEA and local law enforcement estimates of there being over 100,000 gang members and 75 to 100 street gangs in the Chicago metropolitan area.
Speaking of the Commission and their book, there’s this from Wikipedia:
The newly released Chicago Crime Commission publication, “The Gang Book 2012”, conveyed the statistic that Chicago has more gang members than any other city in the United States: 150,000 members. Traditionally Los Angeles County has been considered the Gang Capital of America, with an estimated 120,000 (41,000 in the City) gang members.
Chicago has a higher rate of gang membership per capita than Los Angeles. The state of Illinois has a higher rate of gang membership (8-11 gang members per 1,000 population) than California (5-7 gang members per 1,000 population).
Sounds like Chicago is making good progress in wrenching away the title of “Gang Capital of America” from L.A.
I hear it being said more and more these days:
Chicago has a gang problem, not a gun problem.
I have a feeling City Hall realizes this already- but won’t take significant action on it for a number of reasons.
In which case, Chicago should prepare itself for becoming the undisputed “Gang Capital of America,” and eventually realizing that economic threat- among others- which Senator Kirk warned about.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Cyprus Bank Deposit Funds Seized For ‘Bail-In’
Something to think about before the financial crash comes to our shores. Peter Spiegel reported on the Financial Times (UK) website this morning:
International lenders agreed to a €10bn bailout of Cyprus early on Saturday morning after 10 hours of fraught negotiations, which included convincing Nicosia to seize €5.8bn from Cypriot bank deposits to help pay for the rescue, a first for any eurozone bailout.
The cash from Cypriot account holders will come in the form of a one-time 9.9 per cent levy on all deposits over €100,000 that will be slashed from their savings before banks reopen Tuesday, a day after a Cypriot holiday. An additional 6.75 per cent levy will be imposed on deposits below that level.
(Editor’s note: Italics added for emphasis)
Notice it’s not just “the rich” who are getting hammered by this “bail-in.”
Rebecca Christie and Corina Ruhe added on the Bloomberg website today:
While the tax on deposits will hurt wealthy Russians with money in Cypriot banks, it will also sting ordinary citizens. Some ATMs in the country have run out of cash, Erotokritos Chlorakiotis, general manager of the Cooperative Central Bank, told state-run CYBC.
I can’t imagine a similar event taking place here going over too well on Main Street.
That’s not to say it can’t happen, though.
Exploring legal avenues for escaping a situation like Cypriot bank account holders now find themselves in might not be a bad idea. If not feasible, keeping one’s money out of the bank may be the smartest play in times of serious economic upheaval.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Sources:
Spiegel, Peter. “Cypriot bank deposits tapped as part of €10bn eurozone bailout.” Financial Times. 16 Mar. 2013. (http://www.ft.com/cms/s/0/33fb34b4-8df8-11e2-9d6b-00144feabdc0.html#axzz2NiWqLmL5). 16 Mar. 2013.
Christie, Rebecca and Ruhe, Corina. “Cyprus Bank Deposits to Be Taxed in $13 Billion Bailout.” Bloomberg.com. 16 Mar. 2013. (http://www.bloomberg.com/news/2013-03-16/euro-area-takes-aim-at-depositors-in-cyprus-bailout.html). 16 Mar. 2013.
Cook County, Illinois, Sued For New Gun Tax
“You’re welcome to sue. We’ve looked at this and we believe we can survive any challenge.”
-Cook County, Illinois, Board President Toni Preckwinkle, on proposed new taxes on firearm and ammunition purchases within the county, October 18, 2012
On November 9, 2012, the Cook County, Illinois, Board of Commissioners voted 16 to 1 in approving Board President Toni Preckwinkle’s $2.95 billion budget for 2013- and a new $25 per gun “violence tax” on firearm purchases by law-abiding citizens to pay for the carnage caused by violent criminals.
On November 12, I blogged that there was talk of two lawsuits being drawn up against the county as a result of this tax on residents exercising a Constitutional right.
And Thursday night, I came across the following from Cook County Reporter Lisa Donovan on the Chicago Sun-Times website:
A group of Chicago area gun dealers and owners filed a lawsuit Thursday in Cook County Circuit Court, aiming to halt a new $25 tax on every gun purchase in Cook County…
“Proponents of the tax have admitted that its purpose is to curb the number of firearms in circulation. The Tax thus is intended to deter individuals from exercising their fundamental right to keep and bear arms guaranteed by the Second and the Fourteenth Amendments to the United States Constitution and… the Illinois Constitution,” the lawsuit states.
The suit claims the tax infringes “on the right of law-abiding citizens to keep and bear, and law-abiding Retailers to sell, arms as guaranteed” by state and local constitutions.
The gun tax is scheduled to go into effect on April 1.
It’s been claimed that the new tax is also a gun registration scheme being carried out by the second most populous county in the United States. On November 23, 2012, I wrote:
From the website of Maxon Shooters Supplies & Indoor Range (one of the gun shops affected) in nearby Des Plaines:
Did you know the “Violence Tax” would give the city of Chicago & Cook County COMPLETE ACCESS to all records of firearm sales, ammunition and etc. This would ALLOW law enforcement agencies to ENTER YOUR HOME to inventory and audit all your firearms & ammunition WITHOUT A WARRANT!
With the recent passage of Cook County Ordinance Number 13-O-13, which requires “persons who own or possess firearms within Cook County to promptly report to the Cook County Sheriff the loss, theft, destruction or transfer of firearms,” gun registration- whether intended or not- is now in effect in the county. From section 58-190, “Report of transferred firearms:”
A person reporting the sale, transfer, inheritance, or other disposition of a firearm shall provide the following information:
(1) Owner name;
(2) Owner address;
(3) Owner Firearm Owner’s Identification Card number;
(4) Date of acquisition;
(5) Place of acquisition;
(6) Means of acquisition;
(7) Firearm type;
(8) Firearm serial number;
(9) Date of sale, transfer, inheritance or other disposition; and
(10) The name, address, and Firearm Owner’s Identification Card number of the transferee.
No doubt about it, gun registration now exists in Cook County, Illinois. And history shows that confiscation often follows.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Donovan, Lisa. “Gun owners, dealers sue over Cook County’s $25 tax on firearms.” Chicago Sun-Times. 14 Mar. 2013. (http://www.suntimes.com/news/18859382-418/gun-owners-dealers-sue-over-cook-countys-25-tax-on-firearms.html). 16 Mar. 2013.
U.S. Rep. From Illinois Jan Schakowsky: ‘Assault Weapons’ Ban Just The Beginning
I often hear the following question asked these days:
Why are supporters of gun rights so unwilling to compromise?
If the people asking the question took the time to study the history of gun “control” in America the answer would become pretty obvious to them.
All right, most of them.
But the following exchange at the “One Billion Rising” Rally in the nation’s capital on Valentine’s Day between U.S. Representative Jan Schakowsky (D-IL 9th District) and conservative video journalist Jason Mattera should provide some insight as to why the pro-Second Amendment crowd continues to “stick to their guns.”
MATTERA: So the assault weapons ban is just the beginning?
SCHAKOWSKY: Oh absolutely. I mean, I’m against handguns. We have, in Illinois, the Council Against Handgun… something. Yeah, I’m a member of that. So, absolutely.
“Rep. Jan Schakowsky: Assault Weapons ban ‘Just the Beginning’”
YouTube Video
Sounds to me like a push to ban handguns is in the cards as well.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
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