Celebrity Take One

This morning in headline news the President of the US says if congress does not act in the big company bail out issue the country is in for big trouble. Well my opinion is as follows in the paragraphs to come.

To think the way to fix the economy is to give 700 billion dollars for a big investment company bail out program is ludicrous. These investment companies have made bad investments choices with monies which were not theirs but, where their investors funds. Now the economy is sinking fast or is it? According to the President of the US, this bail out is needed to save the economy. Guess who is footing the bill for this billion dollar bail out, yes that’s right, the lowly working American tax payer. So the poor stay poor and the rich get richer and the middle class continue to pay for the bailout/ rescue plans.

The oil prices are skyrocketing making a panic for a lot of folks. The petroleum issue really should have been addressed years ago. For Geologists this increase in gas prices comes as no surprise because, they have known for decades there would be an oil crisis due to the limited supply of retrievable petroleum. According to the Summary of Reserve Data report in 2007 there was about 65 years of oil left from the top 12 oil reserve countries. The Middle East holds over 50 percent of these oil reserves. Some of the countries reports about oil reserves are inaccurate due to lack of audit and conformation of actual reserves per country. Even so, there is a limited supply of these natural resource reserves and eventually these reserves will go dry. This is reality for the world and people need to be realizing that the gas pumps are not connected to some infinite supply of petroleum.

Prices in the grocery stores have doubled since last year. One year ago a dozen eggs, grade a large cost on average .99 cents per dozen. Go in a supermarket today and one can expect to pay $1.99 per dozen. A lot of items have doubled in price as it always does when there is a minimum wage increase. The minimum wage goes up another .70 cents in July 2009, watch the grocery store prices soar. When the minimum wage increases the price of items increase that is the way economy works. The unfortunate factor in this equation is those who depend on food benefit funds from the government. The EBT/food stamp program does not grow equally with the economy. In the past 25 years government benefits for food have only increased from $123.00 for one individual with no income to $157.00 for one unemployed individual. This provides us with a whopping total of $34.00 more to purchase groceries each month. People continue to struggle by doing their very best to make ends meet.

Some Presidents do better than others running our great nation. When Bush took over there was a 3 trillion dollar surplus to run the country. Bush did what a lot of Presidents do and looked out for his self and his rich supporters, nothing new there. Bush is going to apply his great rescue plan for the high class investing companies by raising the taxes the average Joe has to pay the government. Way to go Bush! Thank goodness November is only a month away.
J.Miller
Oct 2008