Today I want to start by addressing an opinion forcefully displayed by Bill O’Reiley on Fox News about three weeks ago when discussing the “OCCUPY WALL STREET, “OWS”, with Tavis Smiley of PBS and prof Cornell West, and when he asked them what illegal did Wall Street do, they had no answer. On 11-20-08 I originally wrote MY CRIMINAL COMPLAINT. I read it to the nation on C-SPAN on 12-26-08, before OBAMA took office I sent a copy of this complain to President Obama’s transition team on 12-30-08 at the urging of a campaign volunteer, who had worked for the rating agency STANDARD & POORS, at his campaign office in Chicago and she said my complaint was entirely correct.

I can’t stand it: MY CRIMINAL COMPLAINT

The information that has been released concerning the DERIVITIVE and CREDIT DEFAULT SWAP Industry, “CDS”, leads to the conclusion that RICOH statute violations as far as colluding to defraud investors, the credit rating agencies like STARNDARD & POORS, Moody’s and Fitch were complicit by giving artificially high AAA security ratings to investments that had a Mark to Market, subjective evaluation and no real value, or were so highly leveraged against an originating asset to ratios of 500 to 1, according to congressional testimony I heard on C-SPAN.

Therefore, a conspiracy to commit fraud on investors by brokers who sold the DERIVITIVES and SWAPS and the rating agencies who ascribed value to the instruments that they did not have in reality. I read this complaint to the TARP fraud hotline on 2-17-09. I perceived this criminal activity when I started to hear the details of the financial crisis, prior to TARP being passed in October 2008. I faxed an alternative to TARP to Obama’s campaign office before TARP passed, to no avail. I will post it later.

Today, it was announced Italian prime minister Silvio Berlusconi resigned in the face of a mounting Italian debt crisis, in addition to the crisis facing Greece. Bloomberg news said that Angela Merkel, of Germany, would not accept the US “balking” at a financial transaction tax two weeks before the G-20 summit was held.

Apparently, the financial crises in the EU is of a significant magnitude that if it was brought up in the private meeting among Obama, Merkel and Sarkozy it was deemed to be unaddressable at this time as no comment emerged at all, on the subject.

                                                                              Originally dated to 7/10/11

It is being proposed to cap expenditures at 18% of GDP, and it is now 24-25%. Tax revenue is 15% of GDP.

The problem is government spending as a percentage of GDP is counter-cyclical.

As GDP declines becasue of business contraction domestically and as business expands outside the US our unemployment increases.

Demands on government increases when more people need financial help for food, shelter, and medical care because of systemic unemployment.

It is estimated that there are 15 to 25 million people unemployed or underemployed, and there are 2.8 million jobs currently available in the entire United States. Therefore, if every job was filled immediately, we will have 12-22 million people with nothing to do.

If transfer payments(social security, unemployment, general relief, food stamps, etc.) are cut, it only reduces aggregate demand within the US domestic economy that is 70% consumer driven.

Spending being tied by statute to a percentage of a number as dubious as GDP is insane.

The last statistic I heard was world GDP in 2010 was $63 trillion and the US was less $15 trillion.

Then, according to Treasury Secretary Tim Geithner, former FDIC Chair Sheila Bair, Commodity Futures Trading Commission Chair, Gary Gensler former, CFTC Chair Brooksley Born, Securities and Exchange Commission Chair Mary Schapiro and more,  that for every dollar of US GDP we have over $20 in derivitive assests with a worldwide market value of over $600 trillion dollars.

Prior to the Christmas recess last December, CFTC Chair Gensler said the US market for derivitives was $30 trillion through the exchange and $300 trillion outside the exchange.

How are these numbers possible with world GDP at $63 trillion and the US at less than $15 trillion?

It is said, that every American Man, woman and child owes $47 thousand on the US debt of $14.3 trillion.

Every man, woman and child in the US is subsidizing this derivitives market by tax-payer bailouts for the entities that created this market at $1 million per person, and $2 million if the world-wide market is considered, as these assests are valued in US dollars.

For the subsidy of this unregulated enterprise of over $1 million dollars per American citizen, we receive zero! Nada! Null-set!

A 1 % tax, charge, fee, or whatever it could be called, to keep this uncapitalized casino going in the so-called “Shadow Banking” industry would virtually pay for the entire federal budget of $3.7 trillion with no income tax on anyone.

2% would pay off the debt providing over $6 trllion dollars to the government.

Special Inspector General for the Troubled Asset Relief Program(SIGTARP) Neil Barofsky, who resigned at the end of March, said in testimony before Congress that the total amount of credit lines opened up to the largest banks, including loan guarantees by the Treasury Department, the FDIC and the Federal Reserve is $23,7 trillion.

That is over 10 times tax revenue to the Federal government, said to be $2.2-2.3 trillion. These numbers seem hallucinagenic but were confirmed to me by officals at the Federal Reserve and SIGTARP offices, as well as the testimony I heard.

The financial industry is operating in another economy that is 10 times the size of the economy of real goods and services.

SEC Chair Mary Schapiro testified that it will take approximately 4 years, without having their budget cut as it was by the Bush administration since 2005, to get the computer hardware and staff to track all of these trades as well as ETF’s on the over 100 exchanges around the world.

The last year for which I heard a statistic was 2008 from Matt Taibbi of Rolling Stone Magazine, that there were $1.8 quadrillion in trades on Wall Street in a year, without a fraction of a cent of a transaction fee.

If this country and our government is actually serious about addressing unfunded obligations of $100 trillion, you have to go where it is, not extracting taxes from an economy that is only assessed at $15 trillion and cutting heating oil subsidy to SSI recipients in New England.

There is only one way to pay off debt and make needed investments and that is for the government to have more revenue.

Apparently these quadrillions of dollars of activity is not considered a “Good” or a “Service” because they are obviously not being counted in GDP. Yet, they exist untaxed and unregulated.

Taxing and regulating financial transactions is the “Long-term plan” to address our fiscal problems.

It would require a very low rate of tax because the market is so large, and eliminate the need for our our convoluted income tax system.

No write-offs, subsidies, or the other $1.1 trillion in tax expenditures but, if you want them you could afford it to incentivise behavior.

More jobs must be created in the US to rebuild our aging infrastructure and to increase aggregate demand to increase the need for more service jobs, as well as increasing efficiency and competitiveness of the economy.

Supply side economics has been the policy of this country for the better part of the last 30 years.

GDP is the highest it has ever been, and if supply side did trickle down, every  American would be making the most money they have ever made and have the highest standard of living we have ever known. Not the Case.

Since I wrote this, on August 15th French president Nicholas Sarkozy and German Chancellor Angela Merkel met to address the financial problems in the EU and agreed to a financial transaction tax and said they were going to bring it up and the next G-20 summit in November. Conceptually it was also agreed to in the European Union Parliament it is still not part of discourse in the US. We are being told everything is on the table. Obviously it is not.

I am coming to digital life soon.

The fact Elizabeth Warren could not be confirmed, and President Obama would not recess appoint her speaks volumes about the power of banking and financial industry lobbyists in Washington.

On the positive side, the Financial Stability Oversight Council met on Thursday July 21, 2011 and a group of seemingly intelligent people led by Treasury Secretary Tim Geithner and is focused on regulating a market of “derivative” assets with a “notion value” of over $600 trillion in size.

The entities that created these have received direct or indirect subsidies from U.S. taxpayers including loan guarantees from the Federal Reserve, the FDIC and the Treasury Department totaling $23.7 trillion according to Special Inspector General for Troubled Asset Relief Program (SIGTARP) Neil Barofsky.

That is over ten times tax revenue to the Federal Government which is currently $2.2 trillion.  How is this possible in a World where 2010 World GDP was $63 trillion and U.S  GDP is less than $ 15 trillion.

More to come.

Addressing the looming entitlement problem and deficit spending is being approached with blinders on.

We have been told “everything is on the table”, by the Simpson-Bowles commission, as well as Congress.

No, it is not!

Australia is taxing their oil and gas industries at 40% of profits, and other mineral mining is taxed at 30% of profits, with Australia being the natural resource epicenter for China, India, Indonesia, Malaysia, and the rest of the “neighborhood”  to which American jobs have been outsourced.

In addition, Mexico, Brazil, Norway, and many other countries have total nationalization, or at least a majority of energy revenue go to fund government.

Australia also gives all citizens Medicare from birth to death and a minimum wage of $15.00 per hour while their currency is approximately equivalent value to ours.

Middle-class workers can afford to travel to the U.S. for a month with retail wages.

A  comparable worker in the U.S. needs a second job just to make enough money to exist, with no vacation.  In addition, numerous people have 2-3 jobs because does not pay a livable wage, causing 2 other people to be unemployed.

1 job for every 5-6 unemployed people in the U.S.

There are an estimated 15-18 million unemployed, and approximately 3 million jobs available.  It does not take calculus to realize if every job is filled, we will still have over 12 million people with nothing to do.

In future entries I will expound on additional sources of enough revenue to pay for all entitlements and pay off the debt that were not on the table.

Welcome to Hard Rock Politics. I have a degree in Political Science with a specialization in International Relations and a Minor in Journalism from a university in the United States.

I have challenged and questioned presidential candidates, multiple congressional candidates of both parties, to Paul Edwards, former Chairman of UNICEF, to Michel Thomas, a chief witness and former member of the French Underground in WW-II in the case against Klaus Barbie, the Nazi war criminal, as well as representatives of the Rand Corporation think tank in Santa Monica, California to the Los Angeles County Sheriff’s Department.

Over the last 3 1/2 years, I have offered my opinions and advice to Congressional members of both parties.  I gave policy advice from October 2007, when then candidate Sen. Barack Obama was behind Hillary Clinton by 30% in national polling, and 9% in Iowa, with less than 3 months before the caucuses, throughout the rest of the campaign.

This is despite the loss of my wife of many years, right after Obama had won the nomination in June 2008, due in no small part, to the decline in our standard of living brought on by the Wall Street fraud, which I perceive as the largest crime in the history of the world.

All of my policy advice has been based upon my education in Political Science, and my cumulative business and life experience, where I have seen Capitalism succeed, and fail from within, and I know why it does both.  I will amplify my role in the Obama campaign later, but I had more influence than anyone of whom no one has ever heard.  At least, not yet.

When I started advising his campaign, the major criticism of him was “lack of experience”, and his having been a “community organizer”, before becoming a State Senator.

I said that his “judgement” in opposing what I considered to be an unconstitutional and internationally illegal war in Iraq,  was of greater significance than Clinton, Biden, and Sen. Chris Dodd D-CT having been in Washington for 20 years, and voting  to give Pres. Bush the power to conduct another “Executive Branch War”.

Obama started using the “Judgement Trumped Experience” argument, and the rest is history.  Many of my suggestions were used during the campaign, and quite a few have become policy.  That being said, I faxed an alternative to TARP to his campaign office in Chicago, on Sept.28, 2008, before TARP was passed.

I was so infuriated, if Sen. John McCain had voted against TARP, I would have voted for him, but he did not.  I could not, in good conscience, vote for either of them, but I knew with my participation, Obama was going to win in California, and nationally.

TARP was like the NAFTA trade agreement in 1992.

Regardless of which party won, the trade deal opposed by the the majority of Americans, became policy.  Third party candidate Ross Perot warned of the proposed treaty’s effect, and received the most votes of any third party candidate in US history.

Bill Clinton won with a plurality of 43%.

My best recommendation for now, is to view the Academy Award winning documentary “Inside Job”, to at least get a fundamental understanding of the majority of the causes of our financial crisis.

I will be writing on numerous significant issues not covered in the film.  People must have an understanding of facts, before solutions can be found, or even discussed intelligently.

I have lived and participated in the history that has evolved our country and our world into what they are today.  I also have 20 years of business experience in the consumer electronics industry and professional sound equipment, from manufacturing with national and worldwide sales distribution, to retailing the finest audio and video products made.

Political Science is a discipline taught at every university, yet rarely used in analyzing or solving world problems. We are a country run by MBAs.

My reporting is in the objective Edward R. Murrow model. I have been educated in the Associated Press print and broadcast writing styles. My editorial style is from academic and life experience perspectives which are extremely unique.

I am intimidated by no one and started writing an editorial column entitled, “I Can’t Stand It,” in which I use my educated analysis of issues not being resolved, for the actual undisclosed reasons never explored in the mainstream press.