Socialism

I am disgusted with the latest moves to help the illiquidity/credit squeeze with banks. We had a small and temporary victory with the US House of Representatives voting down the first bill for a $750B bailout. The vote actually made me happy to see that our Congressmen actually listen to their constituents. However, the second vote destroyed that happiness. On top of that, the Treasury wants to direct inject money to banks. TAKE A BREAK SOCIALISTS!! Stop reacting to the situation on the ground right now and take your own advice and let these inflationary, socialistic moves take effect. Yes, these moves can provide some good but with a tremendous down side.

What did we learn: The bigger you are the greater the chance of a government rescue!

Why the title a "small plot of blog"?

The name is a bit of a twist from a piece of music by David Bowie called "A small plot of land". I simply removed "land" and added "blog". I felt it was rather appropriate (small) being that this site is indeed "small".

Kudos

The Bush Administration is doing something right. The economic situation and speculation driven oil prices are not a legitimate reason to draw from our Strategic Petroleum Reserve. We need the reserve for an emergency even more now. In fact, if it is not full, keep filling it.

Nation's Infrastructure 4 Sale

Spanish firm offers $12.8 billion to lease Pa. Turnpike
By Paul Nussbaum
INQUIRER STAFF WRITER
A Spanish toll-road operator won the bidding war to operate the Pennsylvania Turnpike, offering $12.8 billion for a 75-year lease, Gov. Rendell said today.
The proposal by Abertis Infraestructuras, of Barcelona, must be approved by the Pennsylvania legislature, and legislative leaders in Harrisburg have said the plan faces tough sledding with lawmakers.
In making the largest bid ever for the private operation of a U.S. toll road, Abertis partnered with a subsidiary of U.S. investment bank Citigroup, and Spanish investment firm Criteria CaixaCorp.
Abertis operates toll roads in Spain, France, Italy, the United Kingdom, Argentina and Puerto Rico. The company also operates airports, telecommunications systems and parking garages.
Under Rendell's plan, the Abertis/Citi consortium would lease the turnpike for 75 years with the right to raise tolls 25 percent next year and 2.5 percent or the rate of inflation every year after that.
Rendell called the lease plan "a very good deal for Pennsylvania drivers and taxpayers," and he said it would mean about $1.1 billion per year for road, bridge and transit projects in the state, on average, over the next 10 years.
Under the terms of the lease, the private operator would be required to maintain and improve the turnpike and honor existing labor contracts until they expire. At that point, employee unions would need to negotiate new contracts with the Abertis/Citi consortium.
If approved, the turnpike lease would mean the end of embattled efforts to toll I-80 as a way to raise transportation funds. And it would mean the effective end to the 70-year-old Turnpike Commission, the politically powerful agency that operates the toll road.
The Rendell administration would invest the multibillion-dollar lease payment and use the proceeds to pay for highway, bridge and public transit projects. But the total would be reduced by about $2.3 billion dollars necessary to assume existing debts and other obligations, leaving about $10.5 billion to be invested, according to the administration's calculations.
Rendell said the lease money would be invested with the Pennsylvania State Employees' Retirement System, and he said the administration expected to earn 12 percent a year on its money. He said that was the average return for SERS over the past 20 years.
Rendell has said he wants the 359-mile east-west turnpike and the 110-mile Northeast Extension to be in the hands of a private operator by mid-September, but legislators said that is very optimistic.
If approved, the lease would be the largest-ever of a U.S. toll road. The Indiana Toll Road was leased in 2006 for 75 years for $3.8 billion, and the Chicago Skyway in 2005 for 99 years for $1.83 billion.
Pennsylvania Turnpike Commission chief executive officer Joseph Brimmeier said today his agency opposes leasing the turnpike, prefering to stick with Act 44, the new law that would raise transportation funding by tolling I-80 and increasing turnpike tolls.
"With Act 44, the Turnpike will supply PennDOT almost $84 billion over 50 years without raising taxes or out-sourcing a critical asset," Brimmeier said in a statement. "That's why we remain committed to implementing Act 44 and seeing it through to completion."
Rendell, though, argued a lease would raise about $150 million more per year than Act 44.
"If you don't have to toll a road, that's a very good idea," Rendell said. "It seems like a slam dunk to me."
Act 44 relies for much of its funding on the tolling of I-80, which requires federal approval. That approval remains uncertain, as the Federal Highway Administration returned the state's first application for permission to toll I-80, and the state has not yet resubmitted its application.
Rendell said today he will urge the Turnpike Commission "in the strongest terms possible" to resubmit the I-80 application this week. And he said he will ask U.S. Transportation Secretary Mary Peters for a quick response, so state lawmakers can weigh that information in their deliberations on the lease proposal.
But Turnpike spokesman William Capone said the application "is clearly not ready to go this week...no way it's close to being ready to be resubmitted."
Abertis and its predecesor companies has been operating toll roads in Europe for 40 years. Its network covers 68 percent of Spain's toll routes and toll roads in northern and western France. It also has a stake in toll road operations in Italy, Portugal, the United Kingdom, Chile, Colombia and Argentina.
In addition, it operates telecommunications facilities, parking garages, and airports, including the Orlando (Fla.) airport, the Burbank (Calif.) airport, and one concourse of the Atlanta airport.
Abertis reported a first-quarter profit of 134 million euros ($208 million), up 9.4 percent from the same period a year earlier.
Citi Infrastructure Investors is a divsion of Citigroup, a financial services company whose brands include Citibank, Primerica, Smith Barney, Banamex and Nikko.
Under the lease plan, Abertis and Citi would equally share management responsibilities of the toll road, while Abertis would own 50 percent of the company, Citi 41 percent and Criteria 9 percent.
Rendell said the two losing bidders for the turnpike lease were teams consisting of Goldman, Sachs & Co. and Transurban Group of Australia; and of the Macquarie Infrastructure Group of Australia and Cintra of Spain.
Contact staff writer Paul Nussbaum at 215-854-4587 or pnussbaum@phillynews.com.

The Battle for the Democratic Nomination

Hillary is making a strong comeback due to Obama's pastor. Talk radio is actually helping Hillary and I think they are smart enough to know that Barack would be a weaker opponent than Hillary for the general election especially considering the latest revelation just mentioned. Yet, conservatives continue to attack and strengthen Hillary. Rush Limbaugh says he wants the Democrats to continue their in-house fight so it will help the Republicans. When has Rush been willing thus far in the primaries to help McCain? I am very suspicious that they intend on helping Hillary on purpose.
A couple weeks ago, it was common thought that Obama had it locked up and Hillary was going to crash and burn. One would speculate that at any time something unsavory would occur because too many forces are not pleased with this development. As with many dirty tactics, once they are initiated they may take time to have an effect. These tactics may unfold when they are no longer needed. Furthermore, if these tactics are fleshed out, it can reverse the damage. This is going on right now as we have just learned that Obama's passport records were breached by State Dept employees obviously bought out to give the info to another party to hurt Obama. This action only makes Obama supporters more passionate in the fight.
Why are the conservatives helping Hillary? Rupert Murdoch owns Fox News and Rupert has donated substantially to Hillary's campaign. This is surprising since Fox News is villified by many for being too conservative slanted and not "fair and balanced" as they proclaim. I actually liked Fox News for many years but I've graduated to a new level of understanding politics. Investigative reporting is rare these days and the spoon fed news is too programmed and controlled. Why is Hillary getting support from the right? Perhaps some Republicans have bought into globalism and are throwing true conservatism and the US Constitution under the bus.

Talk Radio- 14 March 2008

The big news of the day was Bear Stearns, JP Morgan and the Federal Reserve. The top talk radio shows only covered Obama's latest blow to his candidacy involving the Rev. Jeremiah Wright. I know that in an election year, talk radio will tend to only cover the latest news involving the campaign trail. However, I'm still pouting about the lack of attention for the most important issue today. The conservative personalities aren't tactically smart in trying to destroy Obama now when he's still competing with Hillary. I guess I'm just upset to not be able to hear their opinion on the status of our economy and how they see our economy in the coming year or two. Are we headed for a trainwreck? I think we are obviously headed for serious trouble and trying to keep our economy going is similar to keeping a drug addict strung out on drugs. It's obvious that the big push is to get Hillary elected . I believe that a year ago it was commonly thought that Hillary would be the Democratic candidate and it really didn't matter too much who would end up being the Republican candidate. The idea being that Hillary would win and I can't say that has changed much today. I don't think the idea of propping up Hillary or attacking Obama is truly aimed at causing a long battle into the convention to help McCain. I believe it's strictly being done to help Hillary. If Hillary gets the Democratic nod, President Bush will hardly campaign for McCain. If Obama is the Democratic nominee, President Bush will do everything he can for McCain. I want Hillary to lose now. I see her as the worst thing that can happen to us. We can bring in a conservative Congress to keep Obama in check. I don't think we can keep Hillary in check in the same way. The sad news is with McCain we will still see a march to a North American Union. Feliz ahora?!!!!

Thomas Jefferson

"With all the imperfections of our present government, it is without comparison the best existing, or that ever did exist." --Thomas Jefferson to Edward Carrington, 1787. ME 6:227

"If we find our government in all its branches rushing headlong... into the arms of monarchy, if we find them violating our dearest rights, the trial by jury, the freedom of the press, the freedom of opinion, civil or religious, or opening on our peace of mind or personal safety the sluices of terrorism, if we see them raising standing armies, when the absence of all other danger points to these as the sole objects on which they are to be employed, then indeed let us withdraw and call the nation to its tents. But while our functionaries are wise, and honest, and vigilant, let us move compactly under their guidance, and we have nothing to fear. Things may here and there go a little wrong. It is not in their power to prevent it. But all will be right in the end, though not perhaps by the shortest means." --Thomas Jefferson to William Duane, 1811. ME 13:29

"That paper money has some advantages is admitted. But that its abuses also are inevitable and, by breaking up the measure of value, makes a lottery of all private property, cannot be denied. --Thomas Jefferson to Josephus B. Stuart, 1817. ME 15:113

"It is a cruel thought, that, when we feel ourselves standing on the firmest ground in every respect, the cursed arts of our secret enemies, combining with other causes, should effect, by depreciating our money, what the open arms of a powerful enemy could not." --Thomas Jefferson to Richard Henry Lee, 1779. ME 4:298, Papers 2:298

"I have been happy... in believing that... whatever follies we may be led into as to foreign nations, we shall never give up our Union, the last anchor of our hope, and that alone which is to prevent this heavenly country from becoming an arena of gladiators." --Thomas Jefferson to Elbridge Gerry, 1797. ME 9:384

"Private fortunes are destroyed by public as well as by private extravagance. And this is the tendency of all human governments." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40

"What has destroyed liberty and the rights of man in every government which has ever existed under the sun? The generalizing and concentrating all cares and powers into one body, no matter whether of the autocrats of Russia or France, or of the aristocrats of a Venetian Senate. And I do believe that if the Almighty has not decreed that man shall never be free (and it is blasphemy to believe it), that the secret will be found to be in the making himself the depository of the powers respecting himself, so far as he is competent to them, and delegating only what is beyond his competence by a synthetical process, to higher and higher orders of functionaries, so as to trust fewer and fewer powers in proportion as the trustees become more and more oligarchical." --Thomas Jefferson to Joseph C. Cabell, 1816. ME 14:421

"No government can be maintained without the principle of fear as well as duty. Good men will obey the last, but bad ones the former only. If our government ever fails, it will be from this weakness." --Thomas Jefferson to John Wayles Eppes, 1814.

"The time to guard against corruption and tyranny is before they shall have gotten hold of us. It is better to keep the wolf out of the fold, than to trust to drawing his teeth and talons after he shall have entered." --Thomas Jefferson: Notes on Virginia Q.XIII, 1782. ME 2:165

"It is indeed an animating thought that while we are securing the rights of ourselves and posterity, we are pointing out the way to struggling nations who wish, like us, to emerge from their tyrannies also." --Thomas Jefferson: Reply to Address, 1790. ME 8:7, Papers 16:225

"There is a natural aristocracy among men. The grounds of this are virtue and talents... There is also an artificial aristocracy founded on wealth and birth, without either virtue or talents; for with these it would belong to the first class... The artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent its ascendency." --Thomas Jefferson to John Adams, 1813. ME 13:396

(so go start a Numerica card game club)

http://www.buchanan.org/h-192.html

Cintra

Oh sure their talking point to sell this to Texans is the work will go to Texans, but the tolls will have to be paid by Americans.
-less safety controls
-a nation less secure from terrorism
-further erosion of our trucking industry and ports
-greater trade disparity with China

http://www.corridorwatch.org/ttc/pdf/fact%20sheet%20-%20Cintra-Zachry%20-%20031105%20FINAL.pdf


Giuliani and Cintra:
http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=186181

I joined the NRA today

Happy Independence Day!