Monday, September 17, 2007

RELATIONSHIPS IN THE PASTORAL FAMILY

Ellen G. White Estate

Pastoral Ministry (1995) , page 88, paragraph 3

Chapter Title: 15: Relationships in the Pastoral Family

Shepherds who fail at home will fail at church.--He who is engaged in the work of the gospel ministry must be faithful in his family life. It is as essential that as a father he should improve the talents God has given him for the purpose of making the home a symbol of the heavenly family, as that

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in the work of the ministry, he should make use of his God-given powers to win souls for the church. As the priest in the home, and as the ambassador of Christ in the church, he should exemplify in his life the character of Christ. He must be faithful in watching for souls as one that must give an account. In his service there must be seen no carelessness and inattentive work. God will not serve with the sins of men who have not a clear sense of the sacred responsibility involved in accepting a position as pastor of a church. He who fails to be a faithful, discerning shepherd in the home, will surely fail of being a faithful shepherd of the flock of God in the church.--6MR 49.

Source: http://www.egwtext.whiteestate.org/cgi-bin/egw2html?C=49524383&K=165059091710725818

P.S. BOLDS AND HIGHLIGHTS ADDED FOR EMPHASIS. Blogmaster.

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Paulsen acknowledged the frustration and said the question is often a "euphemism" for a more pointed one: "'Why don't we ordain women to the ministry in same way as we do men?'"

"You all know we've been around this one a few times," Paulsen said of the world church's history of discussing the topic beginning in 1990.

The world church, he said, has never taken the position that the "concept" of ordaining women is rejected by the Bible or the writings of church co-founder Ellen G. White.

"It's just a question of 'can we make this major change and still hold together as a global community?'"

Paulsen told Roda his response to women interested in ministry: "Respond to the call God has placed in your heart. Train for ministry, seek the profession, become engaged in it."

Source: http://news.adventist.org/data/2007/08/1189774815/index.html.en

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***Pastor Jan Paulsen, in response to your statements above given to the Pastors in Conversation on September 13, 2007. Please check the EGW Estate for Sister White's writings, supporting or discouraging the ordination of women as Pastors. I have acquired the above article online from there. Which to me is perfectly clear. There is no ambiguity, whatsoever! Yet, the Holy Scriptures are clear: The Old and New Testament affirm a pastor is a type of Priest; Which is something that a woman (per definition) as such can not fulfill. It takes a righteous man not to appease, but to instruct in the will of God; Despite the objections that may arise.

With all due respect,

Thank You.

Arsenio.

Maranatha.

UNDERSTANDING AMONG FAITH GROUPS

Religious liberty experts call for increased understanding among faith groups

September 17, 2007 Richmond, Virginia, United States .... [IRLA/ANN Staff]

International Religious Liberty Association board members met last week to find ways religion -- traditionally viewed by many as a source of division among faith groups -- can inspire reconciliation. [photo: courtesy IRLA]

Addressing the perception that religion can chisel away at good relations among faith groups, members of the International Religious Liberty Association's Board of Experts agreed at a September 9 to 13 meeting that religion must be recast as a means of reconciliation.

"The principles that emerge from all the major faiths suggest an enduring solution that comes from religion, [one that] is needed as never before," Ambassador Robert Seiple, board chair, said.

To that end, board members explored topics ranging from justice to peace from the perspectives of the three Abrahamic faith traditions: Judaism, Islam and Christianity. They concluded each must understand the others' grasp on such issues if faith groups want to eliminate hostilities and build strong relations.

The board also agreed that governments alone cannot mandate religious freedom. "There needs to be a heart-change within various [religious] communities, and peace based on mutual respect," said John Graz, IRLA secretary general and director of the world Seventh-day Adventist Church's department of Public Affairs and Religious Liberty.

"Reconciliation is an essential part of true and lasting religious freedom. Simply having laws to prevent religious persecution and discrimination is not sufficient," Graz said.

Web site: news.adventist.org

Copyright (c) 2007 by Adventist News Network
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P.S. BOLDS AND HIGHLIGHTS USED FOR EMPHASIS. Blogmaster

JAN PAULSEN: INCLUDE YOUTH, WOMEN, ...

Include young adults in church, women in ministry, says Adventist Church president

September 14, 2007 Simi Valley, California, United States .... [Ansel Oliver/ANN]

At the first in a series of unscripted conversations between Adventist world church president Pastor Jan Paulsen, right, and pastors around the world, Paulsen reminded a group of pastors not to expect world church administration to dictate their ministry. Change, he said, "happens in the local church." [photos: Rajmund Dabrowski/ANN]

The nine pastors at the September 13 telecast represented the church in North America's diversity. During the hour-long program, they asked questions ranging from the role of young people in the church and women's involvement in ministry to how ministers can best serve in multicultural congregations.

Paulsen told those gathered for the boardroom-like discussion that in order to be effective, local church leadership must join him in encouraging progress. Paulsen is slated to meet with three additional groups of pastors next year.

Pastors play an important role in including young adults in church life and encouraging women employed in ministry, Pastor Jan Paulsen, president of the Seventh-day Adventist world church, said in a live September 13 telecast.

Paulsen received comments and addressed questions from nine ministers in the United States and Canada during the unscripted show, Pastors: In Conversation, at the Adventist Media Center in Simi Valley, California. Topics included age differences in congregations, women's involvement in ministry, meeting the needs of several cultures in one church, and funding for local churches.

"You are a very trusted, very important part of our church's workforce," Paulsen said in his opening remarks to the ministers. "You represent some 22,000 pastors around the world who minister to 25 million Seventh-day Adventists and others who may come to our church on the Sabbath to worship."

Several times the world church president asked the ministers for each others' thoughts in response to questions during the boardroom-like discussion.

Responding to a question of age differences in church, Paulsen said that young professionals in their 20s and early 30s are a "vastly underused" segment in some churches.

"Look, if they don't take responsibility now, who's going to look after it [the church] tomorrow when you and I are gone?

"I could talk for the rest of this program on just this one issue," Paulsen said 27 minutes into the hour-long show.

"This is not something that can be regulated from an office such as mine," he said. "It happens in the local church."

Paulsen asked pastors to trust young men and women who show spiritual maturity, elect them as elders and not wait until they are 50 years old.

Carlton P. Byrd, a pastor from Atlanta, Georgia, brought up the challenge of conducting evangelism at local churches, sometimes with insufficient funds. "Salvation is free, but ministry takes money," he said.

Paulsen responded by describing the church's tithing commission, a group of more than 100 members from around the world meeting to examine the church's use of funds. He said he didn't want to guess what the commission was trying to do, but suggested the group was considering channeling more funds to local churches. Paulsen urged patience in waiting for their report which he said would be presented in October, 2009.

Three women joined the discussion, including host Bonita Shields, a former local Adventist church minister and current editor of youth bible study guides.

Ann Roda, a pastor from a Fulton, Maryland church, said when many young women tell her of their interest in ministry, they feel the church is "seemingly hostile," and ask why they aren't given the same recognition as men.

Paulsen acknowledged the frustration and said the question is often a "euphemism" for a more pointed one: "'Why don't we ordain women to the ministry in same way as we do men?'"

"You all know we've been around this one a few times," Paulsen said of the world church's history of discussing the topic beginning in 1990.

The world church, he said, has never taken the position that the "concept" of ordaining women is rejected by the Bible or the writings of church co-founder Ellen G. White.

"It's just a question of 'can we make this major change and still hold together as a global community?'"

Paulsen told Roda his response to women interested in ministry: "Respond to the call God has placed in your heart. Train for ministry, seek the profession, become engaged in it."

He pointed out that many women already effectively serve as pastors in local churches, including his niece.

He also called for women to be paid equally to men and acknowledged many women around the world are not asking to be ordained, but to function as a "legitimate minister."

"So many local churches are not open to receive them. ..."I think this is very, very unfortunate. They are part of our spiritual community."

"They are as trained and gifted and skilled as any man could possibly be. ...Please, use them," Paulsen said.

Several pastors, including Andre Flores from Provo, Utah, asked about methods for reaching many cultures within one church.

"You have many cultures that may be together in the same church, but they call each other 'brother' and 'sister,'" Paulsen said. "And when you really get down to it they share a common identity... I find it around the world."

Jim Hiner Jr., a pastor from Minneapolis, Minnesota, said he sought support from elders representing different cultures to help him understand the expectations of various communities in his church.

Paulsen responded to another pastor's question of training and resources available for intercultural ministry: "You need to find out, 'how can I make the Bible ... come alive to my particular culture, or my basket of cultures which I have to minister to in my church?'"

Many of his responses put the responsibility on pastors to make their own decisions regarding their ministry.

Several times, during a discussion of balancing work and family, Paulsen suggested scheduling family time in a weekly calendar. "The family will suffer if all you have for them is the leftover time," he said to questions on the subject from Eddie Polite from St. Louis, Missouri, and Franklin David from Silver Spring, Maryland.

Pastors were selected to represent the church in North America's diversity of cultures, gender and church size. There are about 3,500 ordained credentialed Adventist ministers in the U.S. and Canada.

The program was seen internationally on the church's Hope Channel. Similar discussions are planned for 2008 in Europe, Africa and South America.

"More of my colleagues in leadership need to be involved in this kind of thing. I can only reach so many," Paulsen said in his concluding remarks.

Web site: news.adventist.org

Copyright (c) 2007 by Adventist News Network
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GREENSPAN: MARKET MAESTRO

Friday, 27 September, 2002, 15:38 GMT 16:38 UK
Alan Greenspan: Market maestro
Alan Greenspan Newsmaker
Caroline Frost

The chairman of the US Federal Reserve, Alan Greenspan, has been awarded an honorary knighthood. But, in his own country, he's finding his reputation a little tarnished.
At 5.30 every morning a lugubrious, 76-year-old American sits in the bath for an hour and a half, reading, thinking, and writing, while the hot water flows. His tub-time toilings send ripples around the globe.

Americans are in awe of the man described by columnist Christopher Hitchens as a "mousy, bespectacled accountant". After all, it's Alan Greenspan's task to set the interest rates for the country, and thus affect every penny spent or saved in the western world.

Nixon and Kissinger
Nixon and Kissinger were both contemporaries
Greenspan has wielded his financial influence from Wall Street to Washington since 1968, when he worked on Richard Nixon's presidential campaign.

Since then, he has served, in some capacity, every president except Jimmy Carter, and his long tenure at "the bankers' bank" has seen him become one of the world's most powerful men.

His job requires him to go before Congress twice a year to give an economic assessment. Greenspan represents the public face of American capitalism; he carries totemic status when things are going well.

At the last session, he told the Senate not to worry about stock market volatility. Now, as US bankers watch their balance sheets suffer, so their almost superstitious belief in him is being tested accordingly.

The Queen with Alan Greenspan and wife Andrea Mitchell
The Queen has made Alan Greenspan an honorary knight
Greenspan's federal duties follow a lucrative business career as an economic consultant, dating from 1953.

Providing advice for such impressive clients as US Steel and JP Morgan, the young financier became an expert across the fields of industry, with an intimate understanding of the national balance sheet.

Half a century later, his job hasn't really changed, except now his role is the balancing of the books.

His knowledge of the economy is staggering, but he rationalises that, "after a lifetime of study, you should know how the system works".

Counting the bars

If all this number-crunching seems a little dry, away from the abacus, Greenspan cuts a more unconventional figure.

Alan Greenspan
Financial markets hang on Greenspan's every word
As a Jewish teenager from New York with a passion for music, he initially dropped out of college to play clarinet and saxophone.

Greenspan only became interested in book keeping as a way of filling time between sessions with his swing combo, Henry Jerome and his Orchestra.

One of the group later remarked that he always knew Greenspan would leave them, as "he was just too good at doing their taxes".

Biographer Bob Woodward calls Greenspan "Maestro", both for his musicianship, and his method of financial guidance, his "awareness of every instrument in the political and economic orchestra".

Ayn's apostle

Although an alumnus of Columbia University, Greenspan's intellectual ideas were honed in the salon of Russian novelist, libertarian and right-wing ideologue Ayn Rand.


If I seem clear to you, you must have misunderstood

The ever discreet Alan Greenspan
Her novel, Atlas Shrugged, is currently impressing members of the UK's Conservative Party. Of his time in her ironically-titled Collective, Greenspan recalled: "She made me think why capitalism is not only efficient and practical, but also moral."

A lifelong Republican who went to the same school as Henry Kissinger, Greenspan has nevertheless proved deft at crossing party divides, and spreading his influence much further than the GOP.

Working in harmony with Bill Clinton throughout the former president's two terms ensured a period of prosperity and economic expansion for their nation. But it is this halcyon era that has now come back to haunt the financial guru.

Stock market stoic

The BBC's economics editor, Evan Davies, says Greenspan's double-edged achievement has been to "preside over a boom and bust".


"Although he has been accused of prolonging America's period of growth and therefore causing their current national low, Greenspan remains optimistic about the country's long term prosperity," says Davies.

"He doesn't give in to short-term fears, and he doesn't let stock market gloom get him down."

A regular on the Washington party circuit, Greenspan is an introvert who goes out to gather intelligence. As a man whose every utterance and smile can change spreadsheets across the world, he is inevitably careful with his words.

Revered in high places

His reticence is justified. In 1996, he delivered a speech, questioning the effect of "irrational exuberance on asset values". The Dow Jones index fell 145 points the next day.

Greenspan muses that he worries he "might end up being too clear". In fact, his speaking style has become so guarded and ambiguous that he reportedly had to propose twice before his wife understood the question.

Alan Greenspan
Greenspan's reputation is going downhill
Nevertheless, Congress at home and financial markets everywhere continue to hang on his every word. During the televised debates of the 2000 presidential election, candidates Bush and Gore were asked what they would do first in an economic emergency.

The winning man, George W, replied without hesitation, "Get in touch with Alan Greenspan."

Whether the bespectacled accountant with the hang-dog expression will enjoy the same status of market master by the time of the next race for the White House in 2004, will remain to be seen.

Source: http://news.bbc.co.uk/1/hi/in_depth/uk/2000/newsmakers/2285287.stm

SIR ALAN, UK ECONOMIC ADVISER

Sir Alan, Britain's Newest Economic Adviser

By Nell Henderson
Washington Post Staff Writer
Thursday, February 2, 2006; Page D06

Not bad for the first day on the job.

As Alan Greenspan opened his new consulting firm yesterday, the British government's top economic official announced that he had retained the former U.S. Federal Reserve chairman as an unpaid adviser on economic issues.


Alan Greenspan, who left the Fed on Tuesday, will be an economic adviser to Britain's chancellor of the exchequer.
Alan Greenspan, who left the Fed on Tuesday, will be an economic adviser to Britain's chancellor of the exchequer. (By Toby Melville -- Reuters)











"I am delighted that Dr. Greenspan has agreed to be Honorary Adviser," Chancellor of the Exchequer Gordon Brown said in a written statement. "His advice on issues relating to global economic change will be much appreciated."

Greenspan, who left the Fed on Tuesday after more than 18 years running the world's most influential central bank, declined to comment. His spokeswoman, Michelle Smith, confirmed the arrangement with Brown.

The two men will confer "as issues of importance come up" said Charlotte Farrar, spokeswoman for the British treasury.

The two have worked closely together and spoken warmly of each other for years. Last month, Greenspan described Brown as his "good friend" when the two received honorary degrees from New York University. According to a text of his remarks at the ceremony, Greenspan said Brown "is without peer among the world's economic policymakers."

Greenspan is so well regarded in Britain that Queen Elizabeth II awarded him an honorary knighthood in 2002 in recognition of "his outstanding contribution to global economic stability."

Brown's announcement may be an effort to appropriate some of Greenspan's luster at a time when the British economy is slowing before a likely transition in political leadership, said James Forsyth, an assistant editor at Foreign Policy magazine who closely follows British politics. Brown is the likely successor to Prime Minister Tony Blair, who is widely expected to step down before the next general election, which has not been scheduled, Forsyth said.

Greenspan's cachet "enables Brown to argue that whatever problems the British economy is having are related to the broader problems of the global economy and that the world's greatest central banker says Brown's is the best hand to have on the tiller," Forsyth said.

That may benefit Brown -- if voters can understand what Greenspan is saying.

Last year, Greenspan praised Brown while delivering a speech in Kirkcaldy, Scotland, where Brown was educated and economist Adam Smith was born. "I am led to ponder to what extent the chancellor's renowned economic and financial skills are the result of exposure to the subliminal intellect-enhancing emanations of this area," he said.


Source: http://www.washingtonpost.com/wp-dyn/content/article/2006/02/01/AR2006020102142.html

GREENSPAN'S MAGICAL MYSTERY BOOK TOUR

THE AGE OF TURBULENCE

It's the middle of September of 2007, and Alan Greenspan is taking a whirlwind tour of the Media Circuits (media circus), promoting his latest endeavor: "The Age Of Turbulence"; His tell-all book. Turbulence? Are we headed for a 'crash landing'? Well, pardon my sarong, Sir Alan Greenspan. But, that is too little, too late. What , we're no longer swimming with the sharks? Now the polar ice caps are melting? Where were all these views when you headed the FED? Were they in the 'comfy' attic of your Georgetown townhouse? Why blab all this gibberish now? Is this more spin from the wheels of deception of the New World Order (adventures in a new world) machine?

GRAVITAS

"The war in Iraq was about oil."

Alan Greenspan appeared on CBS's 60 Minutes program on Sunday, September, 16, 2007. He stated that the reason to invade Iraq (the first time) was to stabilize the region, and prevent Saddam from blocking the Straits of Hormuz. But, the underlying issue was, and is oil. Monday (this morning), he was interviewed by Matt Lauer on NBC's TODAY Show to talk about his new/memoirs book which goes on sale today. Everything now seem to be 20/20: Great! But, what about then? He now speaks post-excathedra. To sell a book? Is this the testimony of a man who has experienced a paradigm shift? Or are we watching a dog and pony show being perpetrated on an naive citizenry? Either way, it's another wink and a nod deception, if you ask me.

Irrational Exuberance

While on CBS's 60 Minutes (9/16/2007) it was revealed Alan Greenspan is married to Andrea Mitchell, who is a reporter for NBC News. How quaint. Here he was the Chairman of the Federal Reserve, and married to a Main Stream Media journalist. Well, if he has the need to promote any idea he had the means to do so at home. Washington Post, NBC, Newsweek, have we got a story for you! Alan pratices interviewing at home. It's a shoo-in.

By: Arsenio 9/17/2007

Sunday, September 16, 2007

HILLARY PROMISES UNIVERSAL HEALTH AGAIN


First "Lady" Hillary Clinton selecting wall covering in the Blue Room of the White House, and suggesting 'Universal Health Care' (among other things), circa 1993.

*************

Senator Hillary Rodham Clinton of New York/ Candidate for President 2008.
More agressive and outspoken than back in the 90's. Showing us she's one of the guys; She also 'wears the pants' in the Clinton household. Again, advocating 'Universal Health Care'. Looks may change; But, ideas hardly die!
Blue Cross-Blue Shield, and Pfizer, must be keeping their fingers crossed $$$?

by: arsenio/ Sept. 16, 2007.

THE NOT SO SUPER NAFTA HIGHWAY


The Not so Super NAFTA Highway



By Dana Gabriel http://newworldordermustbestopped.com/DanasBlog.html


The NAFTA Superhighway is an integral part of the agenda to merge the U.S.,
Canada, and Mexico into a North American Union. The Trans-Texas Corridor
(TTC) is to be the first leg of the proposed superhighway, which would then
go through the heartland of America all the way to Canada. We have already
witnessed some of America's infrastructure being sold or leased to foreign
interests. The TTC is being built by a Spanish company who will lease and
operate it as a toll road. The plan is to unload cheap Chinese goods in
Mexican Pacific ports and use the NAFTA Superhighway to deliver the products
to U.S. consumers. The first stop for many trucks and railway cars from
Mexico would be the Kansas City Customs port. It is to be a Mexican inland
port, staffed by Mexicans, and will be considered Mexican soil. There are
also plans to build an inland port in San Antonio to keep up with the
expected increased container traffic. The NAFTA Superhighway is a threat to
our freedoms and will further undermine our national security and
sovereignty.




The TTC is to be the first section of the NAFTA Superhighway that is to be
built throughout Texas, with the link from the Mexican border to Oklahoma
set to be the highest priority. The Spanish company Cintra is to finance,
build, and lease the TTC, operating it as a toll road. This huge project
will encompass more than 4,000 miles of tollways, with talk of further
expansions. It will include 1,200 foot corridors with separate lanes for
passenger vehicles and large trucks. It will also include railway lines for
freight and commuter trains, along with broadband and telecommunication
services, oil, and water lines. Many have heard that the TTC will create
jobs and lead to less traffic. What hasn't been as widely reported is that
this project will mean the loss of as much as 584,000 acres of prime farm
and ranch land. It will displace upwards of one million people from their
private property. Not only will it be devastating to farmers and ranchers
alike, but some entire rural communities will be bypassed or cut off as a
result of the TTC. Many local town newspapers that fall in its path have
been bought up by a company with close ties to Cintra in an effort to try
and silence the ever growing opposition to the TTC.



A bill was passed by an overwhelming majority in Texas that would have
placed a two year moratorium on any public/private partnerships involving
toll road projects financed and operated by foreign companies. This would
have killed the TTC for two years and given more time to expose this agenda,
including the massive amounts of corruption and cronyism associated with
this project. Texas Governor Rick Perry vetoed the bill and in the process
saved the TTC. There are now discussions to extend it into Mexico and link
up with the Mexican ports of Manzanillo and Lazaro Cardenas. It has been
dubbed the Trans North America Corridor. The Texas Department of
Transportation also has plans to tie the TTC project to benefit ports in
Houston and Corpus Christi. The TTC will not end at the Texas border. It is
only the first part of the NAFTA Superhighway and the further integration
into a North American Union.




The Chinese company Hutchinson Whampoa who operate both ends of the Panama
Canal are currently investing millions of dollars to expand deep-water ports
on Mexico's Pacific Coast. The NAFTA Superhighway is to be developed as a
Radio Frequency Identification (RFID) based corridor. Hutchinson Whampoa
will be placing RFID tags on containers leaving China, and Savi Networks
will collect payments on the millions of containers accessing the
superhighway in association with the North America's SuperCorridor
Coalition. Savi Networks will be responsible for placing RFID sensors along
the superhighway, which will be used to track shipment containers. It is
interesting to note that Hustchinson Whampoa also operate the Mexican ports
at Manzanillo and Lazaro Cardenas, and have 49% ownership in Savi Networks.
The Chinese deep-water port at Yangshan is being expanded in anticipation of
the increased flow of containers that will be shipped to North America.
China is one of the forces behind the plan for a NAFTA Superhighway, which
will clearly benefit them as well as many multinational corporations.




Despite the best efforts from the mainstream media to present those who
believe there is a plan to construct a superhighway as conspiracy nuts, the
public is becoming more educated and resistance is mounting. Even with
substantial evidence, those like Vice President Dick Cheney in a letter to a
constituent say that there is no such plan. His approval ratings have hit
rock bottom, his reputation is severely tarnished, and his integrity is
questionable to say the least. He might not be the right person to try and
debunk the NAFTA Superhighway. In an effort to deceive using word semantics,
the North American Superhighway Coalition changed its name to the North
America's SuperCorridor Coalition in the late 90's. If such a plan doesn't
exist, then I guess that makes all those who have introduced resolutions
expressing opposition to a NAFTA Superhighway as crazy as the rest of us. At
the recent Security Prosperity and Partnership Summit closing press
conference, Canadian Prime Minister Stephen Harper stated, “There's not
going to be any NAFTA Superhighway connecting the three nations, and it's
not going to go interplanetary, either.” Like it or not, this agenda is
real, and Jerome Corsi, author of the book, 'The Late Great USA:The Coming
Merger with Mexico and Canada' has recently been honored with a Project
Censored award for his efforts in exposing the NAFTA Superhighway.




The web of deceit associated with the NAFTA Superhighway is never ending. It
is not surprising that you would find someone like Republican presidential
candidate Rudy Giuliani's Houston law firm representing Cintra, the Spanish
Company who will be leasing the TTC and operating it as a toll road. It's
not enough that Giuliani made millions off the war on terrorism. Texas
Governor Rick Perry's sleaze is also well documented, and he is just another
lap dog for the global elite. He has made the TTC his crusade, and he will
do anything to see it become a reality. It will be multinational
corporations and those with political connections who will benefit from this
agenda. The NAFTA Superhighway is the necessary infrastructure needed for
the creation of a North American Union. It will serve as a highway for cheap
Chinese goods and cheap labor from Mexico and Latin America. It is also part
of a fortress North American control grid that is being implemented, and
will be used to track, trace, and tax the population. This is a threat to
our privacy, freedoms, security, and sovereignty. Texas is on the front
lines fighting the New World Order. If we stop the Trans-Texas Corridor then
we stop the NAFTA Superhighway, and put a dent in plans for a North American
Union.

GANGS OF THE CITY AND BEYOND

Gangs of the City and Beyond
by Efrem Smith

It seems I've had to deal with the issue of gangs my whole life. When I was a middle school student, my cousin Cory (who was a gang member at the time) protected me from the pressures from other gang members to join. Many urban kids get involved in gangs because they have family members in them. They grow up watching brothers, uncles, or even sisters involved in gang activity, so they end up becoming gang members because it's a family thing.


Other urban young people join gangs, not because of family ties, but because of a lack of family. Many current and former gang members point to growing up without a father in the home as the reason they initially got involved. They were looking for men to look up to, and gang leaders became those father figures.


There are stories of mothers strung out on drugs and their sons having to become men before their time. The gang becomes the alternative family for young people searching for identity and purpose in life. The gang can also serve as the primary place to search for some meaning of what it means to be a man—connected again to the issue of looking for a father.


In other cases, young people join gangs as a way to make money. Gangs become the primary—or only—cash flow system. This system often breeds violence as the primary means to solve conflict when another gang (or even an innocent bystander) gets in the way of the cash flow— usually involving drug dealing. The drug dealing is not only a cash issue, but also becomes a territory issue. Many gangs are connected to a neighborhood or a side of town—identity is found not just in having money in your pocket, but also in a sense of territory ownership.


There are those who grow up in gang culture, find another way of living, and want out of the gang. My cousin Corey became a Christian, left the Bloods gang, and now runs a mentoring program for atrisk youth. He grew up in a community that included national gangs such as the Bloods and the Vice Lords. Now in the city where he was once a gangbanger, there are local, smaller gangs such as the Trey-Treys (because they live on 33rd Avenue) and D Block (because they live on Dupont Avenue). For many urban youth today, growing up around gangs is as natural as growing up around buildings or trees.


As I'm connected to an ever-more multicultural generation, I'm more aware of the broad ethnic diversity of gangs, too. Today in many urban areas you see various ethnic gangs which represent secondgeneration immigrant groups. In cities you can find gangs that are Hmong, Somali, Samoan, Russian, and Central American. The urban church must continue to wrestle with what draws this ever-more multicultural emerging generation into gang life. Is it assimilation, the global influence of gangsta rap, poverty, a rebellion against first-generation elders, or a mix of all?


It's clear that the church outside the inner city must wrestle with this issue as well. I was recently talking with a youth minister from Huntsville, Texas, who told me that one of the biggest issues his church and community faces is that of gangs. Both the inner city and the rural community share a lack of resources and poverty to a certain degree, which may be why they share the issue of youth and gangs. Whatever the case, the church—regardless of denomination, ethnicity, or location— must deal with an issue that's no longer just confined to the inner city.


The church everywhere must wrestle with why today's young people are finding family and purpose in gangs instead of in church, biological family, and healthy friendships. We must allow our youth ministries to become an alternative to the gang community so prevalent in our communities and so glamorized through popular gangsta rap; we must develop ministry models that not only minister to the whole family but also help build those families, as well.





EFREM SMITH is pastor of The Sanctuary Covenant Church in Minneapolis, Minn., an Itinerant Speaker with Kingdom Building Ministries, a member of the YS Core training team, the author of Raising Up Young Heroes, and a contributing editor for YOUTHWORKER JOURNAL.



GET OUT OF THE CITY



Get Out Of The City


Get out of the city it's falling apart,
it's got a stake right through its heart.
They're queuing for food in huddled drones,
but it's safe in the larders of those on thrones.

So .. .. get out of the city, out of the city,
get out of the city today.
Get out of the city,
out of the city today .. .. now

Get out of the city as the sirens squeal,
high-rise living has lost its appeal.
The bailiffs giggle and snip with glee,
as they cut off gas and electricity.

Get out of the city, find a new home,
undernourished kids are getting chilled to the bone.
The country air is fresh and clean,
but I'm drowning in a sea of tranquillity.

By G.B.H.


PROPER DIET

Proper Diet

"AND God said, Behold, I have given you every herb bearing seed, which is upon the face of all the earth, and every tree, in which is the fruit of a tree yielding seed; to you it shall be for meat." Genesis 1:29

Why do we eat? Because we enjoy it. And we enjoy it enough that very few would want to give up the habit if they could. Thank God He created us with the ability to taste and smell and that He put such delightful flavors and aromas into the food He has appointed for us to eat. But even if we didn't enjoy it we would still have to eat. Food is needed to furnish fuel to supply energy to the body to provide material to repair and build tissues and to supply substances that act to regulate body processes

Any chemical substance found in foods that functions in one or more of these ways is known as a nutrient. The seven basic classes of nutrients are carbohydrates, fats, proteins, vitamins, minerals, fiber, and water.

Only carbohydrates, fats, and proteins provide energy or calories. Sugars and starches are both carbohydrates. Carbohydrates and proteins yield about four calories per gram, and fats yield about nine calories per gram. As these figures show, fats are a much more concentrated source of energy. Fiber, long regarded as a nonessential, is now recognized as an important body regulator. It helps to control blood sugar and cholesterol levels, and also aids in colon hygiene. A low-fiber diet is associated with increased risk of colon cancer, as well as other bowel diseases.

When food is properly selected and prepared, so that the basic nutrients are consumed in the correct ratios and amounts, we can be assured of good nutrition. All natural foods contain all seven essential nutrients. However, the different amino acids (the building blocks of proteins), fatty acids, vitamins, and minerals are found in varying amounts in different foods. So we need to eat a variety of food to get all the nutrients in sufficient quantities.

Malnutrition means we are not getting the proper intake of nutrients, or in some cases that the nutrients are not utilized as they should be in the body. Under-nutrition means there is a lack of certain nutrients. In underdeveloped countries the most common problem is simply not getting enough food to eat or not enough variety. Starvation is a tragic health problem for millions of people in the world. Less frequent, but equally serious, are the problems of protein or vitamin/mineral deficiency diseases. Usually, as long as people are getting enough unrefined calories to eat, these diseases are not common.

Over-nutrition means too many nutrients. In developed countries it is usually related to the excess consumption of refined foods. For millions of the well-fed people of the world over-nutrition is the root cause of much premature death and disease. The top three killer diseases in the U.S. each have strong contributing dietary factors. They are heart disease, cancer, and strokes. Hypertension and diabetes also have strong dietary links. The specific dietary excesses that tend to promote or cause these diseases involve cholesterol, animal fat, too much total dietary fat, too much sugar, too much protein, and too much salt. Basically, just too many calories in general. It is possible to get a toxic overdose of specific vitamins or minerals. Usually one would have to be taking vitamin/mineral pills or highly concentrated foods for this to happen.

Obesity is one of the most common side-effects of over-nutrition. A combination of proper diet and exercise is needed to correct the problem. Briefly, the food in the diet should be low in fat and high in fiber. High-protein diets are no more effective than any other diet except that there is rapid initial water loss. Excess protein is harmful to the body in several ways, in time it weakens the kidneys, heart, bones, and immune system. Instead, eat a regular, balanced diet that is low in fat and sugar and high in fiber. In terms of food this regimen means sticking to mainly fruits, vegetables, whole grains, and legumes. Most people who are obese need to eat less. They probably need to learn to accept being slightly hungry most of the time--at least until their body adjusts to less food, and they become physically fit through an exercise program.

We can briefly summarize what we have learned about proper nutrition thus: "With a calm, thankful attitude and at proper times, eat a wide variety of mostly unrefined foods, prepared in a simple, attractive, and palatable way, in sufficient quantity to maintain ideal body weight and good health."

Our attitude about the food we eat and our attitude while eating is important. If we are nervous or in a hurry or upset about something, the digestive process is impaired. It is better not to eat at all, unless we can do so in a positive frame of mind and take our time. Hurried eating tends to overeating. Since digestion begins in the mouth, it is important to chew your food slowly and well.

A good breakfast should come early in the day. There is no such thing as "breakfast food" either. Many people enjoy potatoes, or beans, or other vegetables, and a main entree at breakfast. Why not? Such food gives your body the nutrients it needs to restore itself after the night's fast and sets the nutritional tone for the day. Usually, another main meal should be consumed no sooner than five hours later. Most people could get by very well on two meals per day. Those who do not need many calories for their daily occupation or who are overweight should try this two-meal-a-day plan. If a third meal is necessary it should be lighter and smaller and at least two hours before bedtime. Eating big meals late at night or before going to bed is not a good practice. Digestion during sleep is not efficient because the metabolic rate is falling. Sleep can be disturbed, and often one feels the effects the next morning. The same amount of calories eaten in the evening are more fattening than if they were eaten in the morning. This fact can easily be explained on the basis of the rise and fall in the metabolic rate between morning and evening. Also, most bodies are energy-conservation conscious, meaning that it is easier to store fat than to get rid of it once it is there.

Eating between meals or having too many meals in a day interferes with digestion. Sour stomachs and sour attitudes are often the result. Smaller, lighter meals do digest more rapidly. The rule is that the stomach should be allowed sufficient time to completely empty itself of one meal and rest for maybe an hour before more food is eaten.

Factors that slow the stomach's emptying time are the fat content of the meal, amount of food eaten, liquid drunk with the meal, and sedentary occupations. Fruit or vegetable meals usually leave the stomach in about two hours, whereas higher fat and protein meals take four to five hours.

To prevent overeating and indigestion there should not be too many varieties of food eaten at once. It is true that we should eat a wide variety of food from meal to meal and from day to day but three or four different kinds of food at one time is plenty

A good variety of plain, unrefined plant food is more nutritionally balanced than the animal products and man-made processed foods. Whole grains, fruits, vegetables, beans, peas, nuts and seeds contain high quality protein, a better fatty-acid profile (thus decreasing the risk of heart disease and cancer), no cholesterol, plenty of complex carbohydrates and fiber, and are rich in vitamins and minerals and water. Animal products and man-made foods are often high in fat, cholesterol, sugar, salt, and harmful additives, and are lacking in fiber. Sometimes we cannot obtain an ideal diet. People shouldn't be made to feel guilty about what they eat if they are doing the best that they can with what knowledge and resources they have. Certainly it is not unhealthful to use some refined products like white flour, sugar, or oil in small amounts to prepare healthful and tasty dishes. A moderate amount of salt can be used by most people. The problem is that the average American taste bud has been conditioned through overuse to expect and demand far too much of these things. It would be well to gradually re-educate people to require much less.

The U.S. Senate Select Committee on Nutrition and Human Needs in 1977 issued these recommendations to all Americans: Reduce salt intake by about 50-85 percent, cut fat consumption by at least 10 percent, slash sugar ingestion by 40 percent, and limit cholesterol to 300 mg. daily (equivalent to one egg).

These guidelines suggest that major changes are in order for the average American diet. The benefits of making such significant changes in the types of food in the diet are amazing. The Adventist Health study has shown that pure vegetarians (no animal products) have only one-third as many deaths from cancer and one-fourth (as many deaths from coronary heart disease as non-vegetarians. In these studies other variables such as tobacco and alcohol were accounted for, so that we know that the tremendous health advantage of the pure vegetarian group is due to the fact that they are not using animal products in their diet These same studies have shown that the vegetarians who do not smoke or drink have only 14 percent as many heart attack deaths and 9 percent as many cancer deaths and live an average of 12 years longer than the general population.

Traditionally, most people measure the nutritional status of their diet by the Four Food Group Plan. The four food groups are: Milk and milk products, meat or protein, fruits and vegetables, and bread and cereals. The idea is to eat a certain number of servings from each group every day to ensure balanced nutrition. This plan does ensure that we will meet the daily requirements for all nutrients. Its chief drawback is that it does not guard very well against over-nutrition, which is the greatest nutritional problem in the U.S. today. We can easily consume too much protein fat, cholesterol, and salt on this plan. Do we really need four food groups when we can obtain all our nutrients from just two groups--the fruit and vegetable and bread and cereal group--just as the vegetarians do who are so much healthier than the non-vegetarians? It is an elemental fact of nutrition science that there is no such thing as an essential food. There are only essential nutrients. We can get them all from two groups or four.

The chief concern then should be "What are the best sources available to me to get the nutrients I need?" We now know the answer to that question, "A well-balanced vegetarian diet that includes a variety of fruits, vegetables, whole grains, legumes, nuts, and seeds."

Although vitamin B12 deficiencies are very rare, even among vegetarians, there is still a question as to whether or not there are any good vegetarian sources of this vitamin. Small amounts of low-fat dairy products or a vitamin supplement would take care of this. But there is evidence that the vitamin is produced in the human body, and vitamin B12 is also found in some drinking water, which may account for the rarity of such vitamin deficiencies.

The case in favor of the vegetarian diet can be summarized by the American Dietetic Association, "The (ADA) affirms that a well-planned diet, consisting of a variety of largely unrefined plant foods supplemented with some milk and eggs (lacto-ovo vegetarian diet), meets all known nutrient needs. Furthermore, a total plant dietary can be made adequate by careful planning giving proper attention to specific nutrients which may be in a less available form or in lower concentrations or absent in plant foods. The (ADA) recognizes that a growing body of scientific evidence supports a positive relationship between consumption of a plant-based dietary and the prevention of certain diseases."

For people who want a better diet it is better to make changes gradually so that the body has time to adapt. Other family members who are not so eager to change their diet need time to adapt, too. A good strategy would be to start decreasing and eliminating some of the worst junk food first and add in their place more fruits, vegetables and whole grains. Switch to low-fat dairy products and omit fatty and processed meats. Cut out more of the refined, processed foods like instant dinners, pastries snack foods, and soft drinks. Buy whole-grain breads and cereals instead of the refined ones. Use less of the unnecessary toppings dressings, and gravies that add so many calories to the meal, and when you do use them look for low-fat or reduced-calorie varieties. Eat at home more often, pack your own lunches and simplify your eating. Get some good health-conscious, vegetarian cookbooks (some are not that healthful, as they overuse cheese, eggs, and nuts) and start practicing and experimenting with new dishes. But keep it simple.

"Blessed art thou, 0 land, when . . . thy princes eat in due season, for strength, and not for drunkenness!" Ecclesiastes 10:17

Source: http://www.seventh-day.org/health_diet.htm

BEWARE THE NEW COLD WAR BACKDOOR

Beware the New Cold War Backdoor - September 21st, 2001

By Keith Newman
The right of governments to pry into private encrypted communications is being revisited as intelligence agencies increase internet surveillance in the wake of the US terrorist attacks.

Within hours of last week’s devastation FBI agents were pushing for internet service providers to install their controversial Carnivore, or DCS1000 email monitoring software. Within a week legislation was passed to broaden the use of the snooping software and to allow other agencies to use similar technologies.

Microsoft’s Hotmail was targeted with particular interest shown in account names with the word Allah and messages in Arabic, according to an engineer at the company.

In February the US claimed followers of former Saudi businessman Osama bin Laden, the prime suspects in the attacks on the World Trade Centre and the Pentagon, were using data-hiding ‘steganography’ software to conceal their hate mail on public websites.

The US has already approved a Bill banning encryption software that doesn’t have a "back door" entrance it could peek inside. Now with some officials blaming encryption programs for concealing information that may have exposed the terrorists there’s growing pressure to enforce this.

Apparently even the controversial Echelon global surveillance network gave no clues of the impending kamakaze attack. The activities of Echelon - operated by the US National Security Agency (NSA) and Canadian, UK, Australian and New Zealand intelligence services - are most certainly being stepped up as the world remains on terrorist alert.

While US officials continue to deny its existence, an investigative committee of the European Parliament this month tabled a 108-page report, which after four-years investigation concludes Echelon is real.

It says the spy system, capable of processing three million communications a minute, gives 55,000 British and American operatives access to data gathered by 120 spy satellites worldwide.

While the report failed to deliver hard evidence that the US or Britain were using the global telecommunication-tapping network to conduct industrial espionage, it does list several examples where intelligence officers may have interfered in a commercial contract.

The European Parliament insists that eavesdropping on Europeans is a breach of the European Convention on Human Rights. It’s asking US and Britain to back off and urging encrypt their private email. Ironically the European states continue to build their own comprehensive electronic eavesdropping network.

Meanwhile New Zealand laws are being reworked for the digital age giving police and security agencies greater powers to track down and prosecute hackers and criminals and to snoop on fax, email and other electronic transmissions.

The Crimes Amendment Bill No 6, along with changes to the Telecommunications Act, likely to pass into law before the end of the year, will make hacking and computer snooping illegal, except when carried out by police, the Security Intelligence Service (SIS) or the Government Communications Security Bureau GCSB. Police will still need a warrant.

The Government will pay for each interception but carriers must ensure their networks are compatible with surveillance requirements. Meanwhile the GCSB – our foreign intelligence arm - is about to be given legal status which potentially opens the way for it to share intelligence with local crime-fighting agencies. It’ll also run the Centre for Critical Infrastructure Protection (CCIP), tasked with protecting our key government, financial, utility and commercial networks. The GCSB will share intelligence with the FBI but insists it has no power to investigate individuals.

It’s broader role, continuously eavesdropping for its international partners in the Echelon network, remains a concern. It established a spy base in the back blocks of remote Tangimoana in the lower North Island in 1982 and another at Waihopai, near Blenheim in 1989. Both use the latest hi-tech tracking and decryption technology, plus Echelon Dictionary software designed by the NSA, to indiscriminately sift through millions of business and personal phone calls, faxes, email messages, voice and high frequency communication for key words and phrases.

In some ways it’s great to know you’re being watched when your national welfare and essential infrastructure are at risk. However it’s a worry when we spend millions of dollars spying on ourselves and our Pacific neighbours for offshore agencies when our own police force and its Electronic Crimes Unit are struggling for resources.

The pressure is on to feed Big Brother’s insatiable desire to know everything about everyone. Hackers, child pornographers, industrial spies and those who would involve themselves in any form of terrorism need to be flushed out but who else will get caught in this net and quietly flagged for future reference? The internet is like that – full of distractions.

In times of panic and paranoia we can give away even basic rights in the hope officialdom in its many guises will make things better. Criminal intent must be proven before investigation can begin but once snooping technology is in place at your ISP or on your phone lines there’s a very real likelihood of ‘function creep’.

Fishing expeditions, data matching or trawling for anomalies in private correspondence remain anathema to basic human rights and the principals of privacy despite the growing pressure to sacrifice all for the greater good.

Email: wordman@wordworx.co.nz
Web: http://www.wordworx.co.nz

Source: http://wordworx.co.nz/NZBTSpies21Sept2001.htm

FAKE COLLECTION AGENCY

Consumer Watch: Fake Collection Agency

Image

Kirstin Cole
Reporting

Sep 14, 2007 7:32 pm US/Eastern

(CBS) NEW YORK As more and more Americans rack up increasing debt, others are capitalizing on the financial pain. And you'd be surprised to find out who's behind it all. With so many cashing in on the debt collection industry, it's an industry rife with fraud.

They arrive in the mailbox at countless homes everyday, collection notices. Lee Gold's 82-year-old mother-in-law recently received one for $600. "I just thought it was a little strange," said Gold, because he pays all her bills and had no record of this outstanding debt.

"They put on the paper that it would be reported to her credit agencies," explained Gold, who started investigating and called the company. "He said it was a debt from 1992-1993 and that he bought it from this record service," said Lee. It's all part of the latest "get rich quick" business with anyone able to cash in.

They simply buy lists of consumers' names, phone numbers, social security numbers, which at some point may have been linked to a debt. But this is an unregulated industry, leaving critics to charge that debt buying is really a free for all, filled with fraud.

"The debt buying industry in the United States right now is akin to the stock market pre SEC," said Long Island attorney, Joseph Mauro, who specializes in fighting abusive and illegal debt collection activities. At the very least, he says, it's bottom feeding, or worse, illegal. "The debts are usually very stale or very old, that is past the statute of limitations," said Mauro. Which is the case with Gold.

CBS 2 called the collection agency. "Hello, this is Kirstin Cole calling from Channel 2 News." They wouldn't comment on this bill or on any of their collection practices. "I think they are preying on the elderly," said Gold. If a bill collector is looking for you to pay a debt, you know nothing about, you are entitled to ask for details and demand documentation.

Source: http://wcbstv.com/seenon/local_story_257172050.html

SOUP KITCHEN U.S.A.

Soup kitchen U.S.A.

By Mike Whitney
Online Journal Contributing Writer


Sep 13, 2007, 01:29


"Credit booms do not end in inflation as most people believe. Credit booms ARE inflation that end in deflation. This credit boom is no different.” --Mike Shedlock, “Mish’s Global Economic Trend Analysis”

The days of the dollar as the world’s “reserve currency” may be drawing to a close. In August, foreign central banks and governments dumped a whopping 3.8 percent of their holdings of US debt. Rising unemployment and the ongoing housing slump have triggered fears of a recession sending wary foreign investors running for the exits. China, Japan and Taiwan have been leading the sell off which has caused the steepest decline since 1992.

To some extent, the losses have been concealed by the up-tick in Treasuries sales to US investors who’ve been fleeing the money markets in droves. Investors have been trying to avoid the fallout from money funds that have been contaminated by mortgage-backed assets. Naturally, they bought US government bonds which are considered a safe bet. But that doesn’t change the fact that the dollar’s foundation is steadily eroding and that foreign support for the dollar is vanishing. US bonds are no longer regarded as a “safe haven."

The dollar slumped to a 15-year low against six of its most actively traded peers and set the stage for an early morning market rout on Wall Street.

Foreign investment and currency deregulation has been a real boon for the stock market, which thrives on a steady flow of cheap capital. It’s also been good for ravenous consumers who like to borrow boatloads of low interest cash for their toys, SUVs and McMansions.

Of course, when things seem too good to last, they usually don’t. The economy is contracting, credit is getting tighter, and the stock market is flailing about aimlessly. Worse still, the world is quickly losing confidence in American leadership on everything from human rights to global warming. In many ways, the US appears to be tragically out-of-step with its epoch. The world is looking for innovative solutions to species-threatening problems, while the Bush Administration insists on following an agenda that seems more suited to medieval warlords in the Dark Ages. The social and economic consequences of their shortsightedness are obvious. Its been a disaster.

As capital flight accelerates; interest rates in the US will rise, unemployment will mushroom, and the dollar will fall. It can’t be avoided. American markets and consumers will be compelled to curb their gluttonous appetite for cheap foreign credit. The free lunch is over.

Overseas investors own more than $4.4 trillion in US debt in the form of bonds and securities. Even if they sell only 25 percent of that sum, the US would feel the pinch of hyper-inflation. For the last decade foreigners have been eager to by our Treasuries and equities -- gobbling up America’s enormous $800 billion current account deficit and keeping demand for the dollar artificially high. But just like the subprime mortgage holder whose “teaser rate” has suddenly expired; the US now faces the painful adjustment of higher payments and less discretionary income for indulgences.

Maybe the charade could have carried on a bit longer if not for the belligerent Bush foreign policy that has alienated friends and foes alike. But, then, maybe not. After all, the Fed’s loose monetary policies added to Bush’s extravagant spending -- $3 trillion added to the National Debt in just six years -- doomed the country from the beginning. Deficit spending has been the central organizing principle from day one. Now comes the hangover.

Federal Reserve Chairman Ben Bernanke is expected to drop the Fed funds rate on September 18. The move will provide more “easy credit-crack” for the addicts on Wall Street but it could also trigger a run on the dollar. That’s what keeps the Fed chief up at night.

The Bush Team was warned repeatedly -- by the BIS, the World Bank, the IMF and the European Central Bank (ECB) -- that their policies were “unsustainable” and would end in an economic meltdown. But they brushed aside the warnings with the same casual indifference as they did the critics of the war in Iraq.

Why would they care if the country suffered? Their friends would still get their massive, unfunded tax cuts. Their private armies and “no bid” contractors would still get their payola. The Democrats would still cave in on the enormous “off budget” war spending. And, they’d still be able to print as much counterfeit money as they chose until every last farthing was drained from the public till.

No worries. Besides the media would mop up the mess they’d made with their usual “happy talk." As the economic calamity unfolds, we can expect to see the usual parade of lacquer-haired phonies on the Business Channel singing the praises of “free markets” and the poisonous culture of overspending and consumerism.

The problems we’re now facing should have been easy to spot for anyone willing to look beyond the empty rhetoric of the TV Pollyannas or their cheerleading co-conspirators at the White House. Instead, we were anesthetized by Alan Greenspan’s low-interest snake oil and Bush’s “tax-slashing” mumbo-jumbo, thinking that they‘d found a new path to prosperity.

It was a hoax. And the seven years of sleepwalking has cost us dearly. Unemployment is up, consumer spending is down, the housing market has slipped into recession, and the stock market is lurching back and forth like an overloaded washing machine. All of this could have been foreseen by anyone with minimal critical thinking skills and a healthy dose of skepticism of government.

Consider this: US GDP is 70 percent consumer spending. That means that wages have to increase beyond the rate of inflation OR THE ECONOMY CAN’T GROW. It’s just that simple. So how is it that 50 percent of the American people still believe Bush’s supply side baloney that cutting taxes for the uber-rich strengthens the economy? How does that increase wages or build a healthy middle class. If we want a strong economy wages have to keep pace with productivity so that workers can buy the goods they produce.

Greenspan knows that. So does Bush. But they chose to hide it behind an “easy credit” smokescreen so they could weaken the dollar, offshore thousands of industries, outsource 3 million manufacturing jobs, fund an illegal war, and maintain the lethal flow of the $800 billion current account deficit into American equities and Treasuries. In truth, there hasn’t been any growth in the economy since Bush took office in 2000. What we’ve seen is an ever-expanding bubble of personal and corporate debt amplified by a “structured finance” system that magically transforms liabilities (subprime loans) into securities and increases their value through leveraging.

That’s it. No growth -- just a galaxy of debt-instruments with odd-sounding names (CDOs, MBSs, CDSs, etc) stacked precariously on top of each other. That’s what we call "wealth" in America.

It’s all smoke and mirrors. The financial system has decoupled from the productive elements of the economy and is now beginning to show disturbing signs of instability. That’s why the big blow-off in the bond market. The halcyon days of supplying our armies, funding our markets and building our subprime “ownership society” empire on the backs of foreign creditors is over. The stock market is headed for the landfill and housing is leading the way. Economic fundamentals can only be ignored for so long.

Greenspan’s bloody fingerprints

The problems began when Greenspan dropped interest rates to 1 percent in 2003 for more than a year, pumping trillions of low interest credit into the economy. This created the appearance of prosperity but it also inflated a massive equity bubble in housing which is now in its death throes. The Fed “rubber stamped” many of the “creative financing” scams which lowered lending standards and turned the subprime fiasco into a $1.5 trillion doomsday machine.

The devastation in real estate is almost too vast to comprehend. The mortgage bubble is roughly $5.5 trillion, and yet, prices have just begun to fall. It’s a long way to the bottom and there’s bound to be plenty of bloodshed ahead. Two million homeowners will lose their homes. 151 mortgage lenders have already gone belly up. Many of the hedge funds, which are loaded with billions of dollars in “mortgage-backed” securities, are struggling to stay alive. Perhaps the most shocking projection was made by Yale University Professor, Robert Schiller, who believes that home prices could decline as much as 50 percent in some of the “hotter markets." (Schiller’s book “Irrational Exuberance” predicted the dot-com bust before it took place) The effects on the US economy would be considerable. If other factors come into play -- like a stock market crash and a subsequent period of deflation -- we could see housing prices descend 90 percent as they did between 1928 and 1933.

It’s possible.

Typically, housing bubbles deflate very slowly, over a period of five to 10 years. Not this time. Credit problems in the broader market are speeding up the pace of the decline. The subprime sarcoma has spread to all loan categories and filtered into the banking system. This is forcing the banks to hoard reserves to cover their potential losses (from CDOs and mortgage-backed bonds “gone bad”). Now, even credit worthy applicants are being turned away on new mortgages. At the same time, “nearly half of borrowers with adjustable rate mortgages were not able to refinance their loans. That’s a major concern for policymakers as an estimated 2.5 million mortgages given to borrowers with weak credit will reset at higher rates by the end of next year.” (Associated Press)

Think about that. It’s no longer just a matter of 40 percent of loan-types disappearing overnight (subprime, Alt-A, piggyback, negative amortization, interest only etc). Even people with good credit are being rejected because the banks are hoarding capital. That suggests the banks are in dire straights and hiding losses that are kept off their balance sheets (more on this later).

So, it’s harder to get a mortgage. And, if you already have one you may not be able to roll it over. This will greatly accelerate the rate of the housing crash. (In fact, the LA Business Journal reported on Sunday that home sales plunged 50 percent in one month. We can expect to see similar numbers in all the hot spots.)

Dollar woes

The troubles facing the dollar are as grave as those in housing. The stock market and the teetering hedge funds are counting on an interest rate cut, but they’ve ignored the effects it will have on the greenback. If Bernanke lowers rates -- as everyone expects -- the bottom could drop out of the dollar. We’re already seeing gold soar to new highs (above $700 per ounce); that’s an indication of dollar-weakness and a potential sell-off of US Treasuries. If Bernanke lowers rates, the greenback will nosedive.

Author Gary Dorsch explains the potential hazards in his recent article, Hopes for an Easier Fed Policy Boost the Euro and Copper: “Interest rate differentials have played a key role in determining exchange rates. Since the ECB (European Central Bank) began its rate hike campaign in December 2005, the US dollar’s interest rate advantage over the Euro has narrowed from 240 basis points to as low as 70 basis points today. Thus, the Fed can only afford a small rate cut to bail out Wall Street bankers who hold toxic sub-prime debt and avoid tipping the dollar into a free-fall. But that might not be enough to prevent a housing led recession in the months ahead.”

After years of abuse under Greenspan -- an $800 billion current account deficit, a $9 billion per month war, and a 13 percent yearly increase in the money supply -- the poor dollar has run out of wiggle-room. If the Fed slashes rates, the mighty greenback will be a dead duck.

Commercial paper: What you don’t know can hurt you

Commercial paper is something that is rarely understood outside of the investor class. It is, however, a critical factor in keeping the markets operating smoothly. “Commercial paper is highly-rated short-term notes that offer investors a safe haven investment with a yield slightly above certificates of deposit or government debt. Banks use the money to purchase longer-term investments such as corporate receivables, auto loans credit card debt, or mortgagees.” (Wall Street Journal 9-5-07)

Commercial paper has been vanishing at an alarming rate in the last month. $240 billion has been drained in just the last three weeks. (There is $2.2 trillion of commercial paper in circulation in the US.) Because CP is “short term," hundreds of billions of dollars need to roll over (be refinanced) regularly. CP is at the very heart of the credit crisis which has spread through the financial markets and it could result in a massive catastrophe. The large investment banks are in a panic -- and that is probably an understatement. Consider this article in the September 10 UK Telegraph which provides an eye-popping summary of what is going on behind the scenes.

U.K. Telegraph, Banks Face 10-Day Debt Time Bomb:

“Britain's biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos.

"Almost 20 per cent of the short-term money market loans issued by European banks are due to mature between September 11 and September 19. Senior bankers fear that they will have to refinance almost all of these debts with funds from their own coffers, putting a further strain on bank balance sheets.

"Tens of billions of pounds of these commercial paper loans have already built up in the financial system, because fear-ridden investors no longer want to buy them. Roughly £23bn of these loans expire on September 17 alone.

"Fears of this impending call on bank credit lines are the true reason that lending between banks has ground to a halt, according to senior money market sources.

"Banks have been stockpiling cash in preparation for this 'double rollover' week, which sees quarterly loans expire alongside shorter term debts -- exacerbating a problem that lies at the heart of the credit crisis.”

Fortunately, the British have a few newspapers -- like the Telegraph -- that still report the news. That is not the case in the US.

There’s roughly $1.3 trillion in “asset-backed” commercial paper filtering through American markets. These are the notes that are connected to mortgage-backed securities (MBSs) that no one wants and which have NO MARKET VALUE. They are referred to as “toxic waste." (No one is buying anything remotely connected to real estate CDOs)

Hundreds of billions of dollars of CP has been issued through SIVs (structured investment vehicles) and “conduits” which are affiliates (subsidiaries) of the large banks. The banks have kept these operations hidden from the public, but now they are in the spotlight because they cannot meet their obligations and are stuck with billions of CP that they cannot refinance. (The reader may recall that Enron kept similar “off balance sheets” operations secret from the public before it declared bankruptcy)

The banks are now forced to assume responsibility for the commercial paper held by their affiliates, which means that they need sufficient capitalization to cover the losses.

Sound confusing?

The bottom line is this: The banks are responsible for hundreds of billions of dollars in commercial paper that probably won’t be refinanced. AND IT IS BEGINNING TO LOOK AS IF THEY DON’T HAVE THE RESERVES TO COVER THEIR LOSSES.

That’s why we continue to believe that the banks are in trouble.

According to the Wall Street Journal: “So do the banks and their shareholders have nothing to worry about? Not quite . . . Negligible losses in August were enough to force the banks to run to the authorities for help. Regulators may decide that the best way to prevent a recurrence is to require banks to hold more capital. They might even limit some types of transactions. Such moves might be good for the economy, but would reduce the banks' returns on equity.” (“Banks Seem Fine -- For Now," WSJ, 9-8-07)

Read carefully and I think you will agree with me that the WSJ is letting on that the banks needed “more capital” even after “negligible losses.” The predicament is much more serious now.

Bank troubles are never minor. That’s why there’s been a concerted effort to cover up the real source of the problem. When people lose confidence in the banks, they lose confidence in the system. That leads to social unrest.

Don’t think they’re not aware of that at the White House.

The likelihood of a hard landing

Even if a shakeup at the banks can be averted, the path ahead is still filled with obstacles. The reckless policies of the last seven years have edged us ever-closer to the inevitable day of reckoning.

Professor Nouriel Roubini summed it up best in a recent blog-entry, The Coming US Hard Landing: “Indeed, the forthcoming easing of monetary policy by the Fed will not rescue the economy and financial markets from a hard landing as it will be too little too late. The Fed underestimated the severity of the housing recession, its spillovers to other sectors, and the contagion of the subprime carnage to other mortgage markets and to the overall financial markets. Fed easing will not work for several reasons: the Fed will cut rates too slowly as it is still worried about inflation and about the moral hazard of perceptions of rescuing reckless investors and lenders; we have a glut of housing, autos and consumer durables and the demand for these goods becomes relatively interest rate insensitive once you have a glut that requires years to work out; serious credit problems and insolvencies cannot be resolved by monetary policy alone; and the liquidity injections by the Fed are being stashed in excess reserves by the banks, not aimed at the parts of the financial markets where the liquidity crunch is most severe and worsening.”

Soup kitchen USA

Roubini is right. The Fed doesn’t have the tools to fix this problem. It needs to be addressed on the policy level. The “structured finance” model has proved to be an abysmal failure. It has created an unstable and opaque market full of bizarre named debt instruments -- CDOs, CDSs, CLOs, MBSs, etc -- which collapse under stress. Congress needs to step up and force regulators to ban these poisonous bonds and swaps and restore the market’s credibility.

We also need to address the expanding wealth gap that is the result of 20 years of wage stagnation. Personal savings can only grow if wages keep pace with productivity, otherwise workers will try to meet their needs by increasing their debt-load. That’s why we’re in the fix we are now. Working families are having a harder time making ends meet. It’s only natural they would try “speculating” in the real estate market to get ahead. After all, everyone wants a piece of the “American dream." Unfortunately, many homeowners stand to lose more now than when the dot-com bubble burst. The downturn in housing is certain to wipe out trillions in market value.

There are no quick fixes or “silver bullets” as Bush likes to say. These issues will require a fundamental change in our political consciousness. Nobody’s going to fix this for us. It’ll take organization, energy and an unwillingness to accept failure.

It’ll take years to dig our way out of this mess. In the meantime, we need to close ranks and prepare ourselves for tougher times ahead. The dollar will weaken, housing prices will fall, and economic conditions will continue to deteriorate. We can either organize and meet the challenges we face head-on or form a line and wait for the soup kitchens to open.

Mike Whitney lives in Washington state. He can be reached at fergiewhitney@msn.com.

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