Thursday, April 29, 2010

"Reefer Madness!!"

When California voters head to the polls in November, we will decide whether our state will make history again - this time by legalizing the recreational use of marijuana for adults.

This is what the initiative does:

The initiative would allow those 21 years and older to possess up to one ounce of marijuana, enough to roll dozens of marijuana cigarettes. Residents also could grow their own crop of the plant in gardens measuring up to 25 square feet.

The proposal would ban users from ingesting marijuana in public or smoking it while minors are present. It also would make it illegal to possess the drug on school grounds or drive while under its influence.

Arguments for and against legalization in California:

Proponents of the measure say legalizing marijuana could save the state $200 million a year by reducing public safety costs. At the same time, it could generate tax revenue for local governments.

Opponents view marijuana as a "gateway drug" that, when used by young people, could lead them to try other, harder drugs. They worry that legalization would persuade more people to try it, worsening the nation's drug culture.

Saturday, April 24, 2010

Measuring Wall Street Apologetics

Bank CEO's apologies along with where they placed the blame and how much $ they made. Find out here in this New York Times Article.

Friday, March 5, 2010

Is This Recovery Real? Or Are We Delaying the Inevitable?

Today the market was up broadly when the Federal Reserve reported borrowing by consumers unexpectedly climbed in January for the first time in a year. This is a clear sign Americans are gaining confidence in the economy. Even though interest rates are low, which means money is cheap, home equity loans that allow consumers to turn their homes into ATM's are not as easy to obtain as they used to be. A consumer led recovery is not likely; millions are out of work and unemployment remained at 9.7% in February. According to the congressional budget office unemployment is likely to remain high until mid-decade. Consumer spending accounts for 2/3 of the economy, but instead of spending we are saving and paying down debt. The only real way for consumers to spend is by borrowing the money. Where does this money ultimately come from? The government's printing press. Since our government does not actually create wealth, this is the only way to get cash into hands of consumers. Wasn't it massive borrowing that helped to create this mess in the first place? Inflation is a creeper and the only way to stop it once its on fire is to cripple the economy; remember the 1970's? The government's plan? Give us cheep money to re-inflate our economy. You decide if this is a sustainable long term recovery.

Source 1 Source 2