Corruption of traditional accounting principles

Over the last decade or two there has been a gradual corruption both on the American and European continents of the traditional principles of accounting as practiced for centuries. In many countries the (IAS), International Accounting Standards have abandoned the traditional principle of prudence and replaced it with the principle of fair value. This was a particularly positive principle, in good economic times, because it highly inflated the bottom line of the financial assets of brokerages, investment houses and in general in all that wanted to see "inflating" book values. Eventually the "bubble" that this practice created because of greed burst and we, economic sector and countries and individuals who bought into this artificial position found themselves holding worthless, non-liquid toxic investments. So instead of bitting the bullet and saying they made a greedy mistakes they, the central banks, the Fed, and semi-governmental institutions bought back this worthless "stuff" through various means including bailouts and creating more and more fiat money. The time now has come to stop the fiat money and create and monetary system not based on "wishing it so" but on one backed by hard assets worth something "in themselves". Will the governments of the world do this or will the "can" be kicked down the road to another generation which will only make the problem more difficult to solve because the hole we find ourselves in will only be much, much deeper?

Central Economic Planning...the end of the Soviet Union

Over the last half century honest rigorous economic analysis and a balanced approach too centralized financial planning has shown that the centralized approach cannot succeed in defining the most advantageous monetary policy for every moment. This policy of centralized monetary planning and policy is one of the primary reasons the Soviet Union is now extinct. If one views the theory of socialism and centralized economic planning and policy making through this lens, which the Austrian economist did, one must come to the conclusion that it is self terminating. Ludwig von Mises and Friedrick A. Hayek discovered this and it can be applied to central banks here and abroad and too the Federal Reserve and to Ben Bernanke in particular. It is impossible organize a complex society by central planning and coercive commands of government; there are too many variables that cannot be know or understood. The free market must be left alone since it alone is usually ahead of the curve of the knowledge that any government can trully understand and plan for in it's rules and regulations which it believes will "control" the economy. Europe will do what it will do but in this country we must END THE FED.

Concealed Carry...saves lives?

Those who say there's no way an armed citizen could stop a potential mass shooting - and may even exacerbate the carnage - should take the following tale to heart. Customers at a Houston, Texas, Denny's restaurant were eating breakfast one morning when two armed robbers brandishing guns burst into the store and demanded money. One of the diners stood up, drew a handgun and opened fire on the men. The robbers fled the scene. No one was injured. (Associated Press, 11/26/11)

Who do you trust?

Well who do you trust? As I get older I trust fewer and fewer people and entities. Call me jaded, call me paranoid or whatever you want....but I trully believe I may have attained the "wisdom" that comes with age and being lied to and screwed by individuals, businesses, politicians and govenments...local, state and national. Does anyone tell the truth or does everyone have their own agenda. So this coming election year I am going to judge a candidate by not only what they say they will try and do but by their past actions, promises and what they have accomplished. I suspect that I will be voting a majority of incombents out of office on local, state and national levels. Can new individuals with firm commitments do any worse that their forebearers...think not. So I think I am going to try and change the entire sltate and trust in providence and the zeal of neophytes to change the way government operates...hoping they will work for the people and not for themselves and their party. Wish me luck...I believe the future of our country depends on the results of this coming national election. Don't vote just for party but vote for the person who understands that they are there to serve you and the best interests of this country.

Video: The Government Can (Tim Hawkins)

Video: The Government Can (Tim Hawkins)

Happy Holidays | Carlson School of Management

Happy Holidays Carlson School of Management

The "Spirit" is moving among us.

George Washington's Principles of Leadership

When choosing someone you may vote for in the next presidential election reflect on Washington's Principles of Leadership:

• Principle #1: Smaller Groups When Well Led Will Reflect The Unity Of The "Great Whole."
• Principle #2: Governance Requires The Best Men//Women So That "The Great Whole" Is Not Mismanaged.
• Principle #3: You Can't Please Everyone, So Seek The Good Of "The Great Whole."
• Principle #4: Jealous Parties Must Be Urged To Exercise The Wisdom Of Being Part Of "The Great Whole."
• Principle #5: Withering Criticism Can Be Weathered By A Consistent Policy Of Never Seeking Merely Local Or Partial Considerations, But By Always Seeking "The Great Whole's" Substantial And Permanent Interests.
• Principle #6: Pursue the true interests of the Country rather than popularity.

Good advice from the Father of our Country then and today.

DOJ Ignores Christians and Defends Muslims | Godfather Politics

DOJ Ignores Christians and Defends Muslims Godfather Politics

Liar liar pants on fire!

Now let me understand this: French President Nicolas Sarkozy was over hood saying "I can't stand him. He's a liar."...about Prime Minister Benjamin Netanyahu and President Obama stated "You're tired of him; what about me? I have to deal with him every day." Now those two pots (politicians) are calling the kettle black (Netanyahu)... what a joke...LOL. All politicians lie when they have too or even when they don't; it is a pre-requisite for office in today's world...isn't it? These are world leaders....LOL again. We all have to do better come election time.

Jacksonville NC Police Ban Pro-Lifers from City Sidewalk ‘In Case Car Jumps Curb’ | Godfather Politics

Jacksonville NC Police Ban Pro-Lifers from City Sidewalk ‘In Case Car Jumps Curb’ Godfather Politics

This is an attack on our First Amendment rights of free speech...soon we may need a "permit" from "big brother government" just to walk on a sidewalk all alone. Slowly but surely our rights are being eroded under the guise of protecting our health, well being or person. Don't you see the pattern.

Pelosi: Without Obama's Stimulus, Unemployment Would Now Be 15% | CNSnews.com

Pelosi: Without Obama's Stimulus, Unemployment Would Now Be 15% CNSnews.com

Do you think that Pelosi has any credibility left at all?

Governing by Executive Order – Again….

Governing by Executive Order – Again….

Florida Judge Says Welfare Recipients Have More Rights Than Employed Americans | Godfather Politics

Florida Judge Says Welfare Recipients Have More Rights Than Employed Americans Godfather Politics

The road to dictatorship?

Recently President Obama directed his staff at the White House to look and see if they could circumvent the Congress in order to get what he wants in his agenda accomplished and placed into law. It sounds like he wants to dictate his policy agenda into law without the input of the Congress and the people who gave him his power and the Congress it's powers. Does it not sound like a violation of his oath of office to defend the Constitution of the United States of America? Wonder what the Supreme Court of the United States of America might have to say about this circumventional action?

The check is in the mail...?

The check is in the mail; how many times have you heard that line.

The meeting of the Woodstock Police Pension Board was called out of Closed Session and into Open Session at 7:56 PM on September 22, 2011 by Chairman Bittig and Mr. Fink moved to award Steven Gorski a non-duty disability pension dating back to November 29th of 2007. Ms Abrams seconded the motion. Chairman Bittig then took a roll call vote of the pension board members.

• Mr. Knapp....Aye.
• Ms. Abrams...Aye
• Mr. Fink...Yes
• Mr. Leard...Yes

Chairman Bittig then then stated the motion passed.

The hearing officer Mr. Kelly then stated that the Board will follow this oral decision with a written decision within 21 days of today. (Sept. 22, 2011) Mr. Kelly then stated that the written " will be served upon both parties and we'll address all the concerns raised in Mr. Duda's brief relative to due process and things in that findings and decision.

Chairman Bittig then called for a motion to adjourn and the members of the board all voted in the affirmative. Before the meeting was officially closed by Chairman Bittig Mr. Duda asked the following question of Mr. Kelly, "is the Board going to make payment before the 21 days? Mr. Duda stating that usually it's paid after the vote's taken, not from the decision.

Mr. Kelly then stated "They will start the processing. We have to verify the salary, what the salary was at the time. It was 2007. So we'll verify the salary and begin processing the check. Whether it comes prior to or at the time of the 21 days, I don't think we're going to hold it up."

Following this verbal understanding between Mr. Duda and Mr. Kelly, the hearing officer, the meeting was adjourned.

Today is Saturday, October 22, 2011, 30 days since the verbal decision was made and still no check and no written decision has been received. If one goes by the written letter of the written report of the proceedings Steven R. Gorski should have received his check on Sept. 13, 2011, exactly 21 days from the verbal decision.

Note: Nowhere in the official Report of Proceedings (which can be found on the City of Woodstock's Web page) for that Sept. 22, 2011 meeting does it refer anywhere to "working" days....only states "21 days". It also has been 21 working days since the verbal decision.

Universe...may have no set speed limit...maybe all is relative

The egos and inflated self images of many physicists, cosmologists and astronomers have taken a blow to perhaps all that they think they know about the Universe of which they are a part. Over the last several weeks scientists have been shooting a beam of neutrinos to labs equipped to detect these strange particles which apparently react with little or nothing...they travel through our bodies and the earth and solid objects as if nothing was in their way. That in itself is interesting but they also seem to not obey Einstein's universal speed limit of 186,000 miles per second. It may be that all that we have taken for granted regarding Einstein's theory of relativity, the "standard theory" of subatomic particles and a myriad of so called "laws of nature" are do to expire and will have to be re-thought in the not so distant future. Good luck boys and girls!

Could it be that maybe we are not as smart as we thing we are and that nature and the cosmos is more than just one step ahead of us.

United Nations....GO AWAY!!!!

As far a I am concerned the United Nations has outlived its usefulness. It has only been a thorn in our side and has given rogue and terrorist groups and countries a platform to spew their vitriol and propaganda. Leave our shores and don't expect any more money to support your anti-American and socialist agenda. Adios, farewell and good bye! And while were at it lets bid adieu to the World Bank and it's IMF, International Monetary Fund. Besides being the world's policeman lets also stop being its financial savior. Let us see how the elite European sophisticates can do on their own.

Ten Hayekian Insights for Trying Economic Times

These insights were adapted from a Heritage First Principles Essay by Bruce Caldwell.

1. Recessions are bound to happen.
2. Central planning and excessive regulation sure don't work.
3. Some regulation is necessary.
4. A stimulus will only stimulate the deficit.
5. The economy is too complex for precise forecasting.
6. Remember the rule of unintended consequences.
7. You won't believe how much you'll learn in Econ 101.
8. Leave social justice out of it.
9. Nothing beats the free market.
10. As a rule of thumb, government cures are not only worse than the disease, but lead to further disease.

Taken from a Special Abridged Edition of Friedrich A. Hayek's The Road to Serfdom, pages 45 to 48. This was produced from the Heritage Foundation.

09/19/11...the President's speech

Today President Obama gave a political/economic/re-election speech. I just have a few bullet points to make about it...you can make of them what you will.

• He use "I" twenty-four (24) times in 20 minutes of talking
• He stated that government "always has to do a little more"
• He stated that physicians should be paid for good results obtained not for what they do. If you used this same standard for the Executive and Legislative Branches of the Federal Government they would very rarely be paid.
• He stated that he is not promoting "class warfare" yet he fails to state that nearly half of the population of the United States pays no income tax.
• He states that Warren Buffet's tax rate is less than the tax rate of those who work for him. That is because Mr. Buffet is paying Capital Gains Tax....15% and his employees are paying Income Tax of 25 to 35%. This was passed by Congress. In actual dollars Mr. Buffet pays a lot, lot, lot, lot.....more.

Digest the above and ask yourself if President Obama is trying to make points or votes for the coming election or if he is really leveling with you.

9/11/2001

A moment of silence and prayer for those who were murdered in the Twin Towers, in the Pentagon and in Pennsylvania today and for all the military who have served in the War on Terror since then and those who will continue this pursuit.