There Were "Progressives" for the Last Centrury

Even in 1957 Atlas Shrugged references the blight of "progressives" on society -

"By that time it was too late. ...the freight cars were in California, where the soybeans had been sent to a progressive concern made up of sociologists preaching the cult of Oriental austerity, and of businessmen formerly in the numbers racket.  In Minnesota, farmers were setting fire to their own farms, they were demolishing grain elevators,and the homes of county officials because their wheat could not move...

Lack of Enforcement by The Chief Executive

President Obama: "That is why I feel so strongly that we need to enact a set of updated, commonsense rules to ensure accountability on Wall Street and to protect consumers in our financial system."

You are not enforcing existing laws and have allowed others to be recinded, Mr. President!
Why is not the Attorney General prosecuting bankers, mortgage lenders, appraisers and Real Estate agents where felonious conduct has taken place? Investment houses, auto manufacturers, and a whole host of hangers-on received 1.5 trillion taxpayer dollars because exisitng laws have not been enforced. The repeal of Glass-Steagall undermined a fifty year old safe system and Hank Paulson expedited the removal of the 14:1 leverage rule when he moved from Goldman-Sachs to Treasury. Those of you who elected the last three Presidents and their henchmen, Rubin, Paulson, Holder, and their entourages are just getting what you deserve. You are no different than AIG with your oversized house, oversized SUV, and oversized credit cards.

De'ja Vu All Over Again

There was a curious juxtaposition yesterday evening when CNN aired a program showing Detroit's deterioration followed by India's economic woes of inflation. All of this while I was re-reading Atlas Shrugged where the mother of Hank Rearden of Rearden Steel is begging for a job for her other son and Hank turned her down because he was worthless...and the People's Republic of Mexico had just nationalized a worthless copper mine.

She said "If you loved your brother, you'd give him a job he didn't deserve, precisely because he didn't deserve it - that would be true love and kindness and brotherhood. Else what is love for? If a man deserves a job, there is no virtue in giving it to him. Virtue is the giving of the undeserved."

This is true moral bankruptcy!

Finally A ChanceTo Update

I feel like Howard Hughes in Nassau - just without the bankroll or entourage. The rainy season started a month early but at least the wind is back and there are no Virgin Airlines 'heavies' (747) taking off for Europe - ash clouds...Because of my damaged laptop display and poor internet service, I've finished Ludlum's "Parsifal Mosaic". Now I'm starting a re-read of "Atlas Shrugged". With a 20 year space it is patently obvious that a 35 year old story did not enlighten anyone! Ayn Rand even used the term 'progressives' then for the looters.

No Financial "material" Impact - Ha Ha Ha

I know, Obama has said that there would be no "material" impact to finances until 2014.
Liar.

Truth: Caterpillar and John Deere already announced non-cash charges of $100 and $150 million, respectively, for this year based upon the impact of this bill on forward retiree health care costs.
But today a 100-kiloton device landed on AT&T's (NYSE: T) balance sheet - they announced a one billion dollar non-cash charge.

Now tell me you think that these companies are going to pay this out of the kindness of their hearts and their own pockets and to hell with the shareholders??? Or are they going to pass this along as higher consumer costs?

Yes, you are going to have your healthcare but you cost-of-living is accompanied by a giant flushing sound.

I Really DO Work......Occasionally

This is the pipe yard looking out to San Jacinto Mountain.

I am still getting in my 2 or 3 days a week, now as a consultant to Aleta's company. It's weird having my daughter for a boss. I just sent 6 packages to my accountant for all the family and their business's. And I'm wrapping up a whole bunch of other details so I can leave for St. Lucia in 2 weeks for 4 months. The mining company has been 're-aligned' to a family business under Cole's guidance. I'm free at last, free at last!

Family Visit 2010

Aleta with Ella and Philip came to SoCal for a two week visit. I think that uncle Cole was outmatched by the mini-Jedi. Great fun was had by all including me with continuous fun and mayhem at the Orchard House interspersed by four count 'em 4 visits to Disneyland.