MY WORK ... MY PASSION

• Certified Transpersonal Hypnotherapist ; Past experiences: Dream Analysis /10 Years Experience •Psychotherapist / Use of Gestalt, Jungian, Zen, Reality and Energy Therapies /10 Years Experience •EMDR • Men and Their Journey: the neuroscience of the male brain, and the implications in sexuality, education and relationship • Women: Their Transformation and Empowerment ATOD (Alcohol, Tobacco and Other Drugs) / 21 years experience •Ordained Interfaith Minister & Official Celebrant • Social Justice Advocate • Child and Human Rights Advocate • Spiritual Guide and Intuitive • Certified Reiki Practitioner • Mediation / Conflict Resolution • “Intentional Love” Parenting Strategy Groups • Parenting Workshops • Coaching for parents of Indigo, Crystal, and Rainbow Children • International Training: Israel & England • Critical Incident Stress Debriefing • Post-911 and Post-Katrina volunteer

MSW - UNC Chapel Hill

BSW - UNC Greensboro


With immense love I wish Happy Birthday to my three grandchildren!

May 22: Brannock

May 30: Brinkley

June 12: Brogan

All three have birthdays in the same 22 days of the year ....what a busy time for the family!

"An Unending Love"

This blog and video is devoted and dedicated to my precious daughter Jennifer, my grand daughters Brogan and Brinkley, and my grand son Brannock. They are hearts of my heart. Our connection through many lives..... is utterly infinite.




The Definition of Genius

"THRIVE"

https://youtu.be/Lr-RoQ24lLg

"ONLY LOVE PREVAILS" ...."I've loved you for a thousand years; I'll love you for a thousand more....."


As we are in the winter of our lives, I dedicate this to Andrew, Dr. John J.C. Jr. and Gary W., MD, (who has gone on before us). My love and admiration is unfathomable for each of you..........and what you have brought into this world.....so profoundly to me.
The metaphors are rich and provocative; we're in them now. This world is indeed disappearing, and the richest eternal world awaits us!
The intensity, as was in each of the three of us, is in yellow!
In my heart forever.........

Slowly the truth is loading
I'm weighted down with love
Snow lying deep and even
Strung out and dreaming of
Night falling on the city
Quite something to behold
Don't it just look so pretty
This disappearing world

We're threading hope like fire

Down through the desperate blood
Down through the trailing wire
Into the leafless wood

Night falling on the city
Quite something to behold
Don't it just look so pretty
This disappearing world
This disappearing world


I'll be sticking right there with it
I'll be by y
our side
Sailing like a silver bullet
Hit 'em 'tween the eyes
Through the smoke and rising water
Cross the great divide
Baby till it all feels right

Night falling on the city
Sparkling red and gold
Don't it just look so pretty
This disappearing world
This
disappearing world
This disappearing world
This disappearing world


TECHNOLOGY..........

In “Conversations with God”, by Neale Donald Walsch, there is a warning I think of. I refer to it as the Atlantis passage, and I've quoted it a few times before." As I have said, this isn't the first time your civilization has been at this brink,"

God tells Walsch. "I want to repeat this, because it is vital that you hear this. Once before on your planet, the technology you developed was far greater than your ability to use it responsibly. You are approaching the same point in human history again. It is vitally important that you understand this. Your present technology is threatening to outstrip your ability to use it wisely. Your society is on the verge of becoming a product of your technology rather than your technology being a product of your society. When a society becomes a product of its own technology, it destroys itself."

Showing posts with label Wall Street Journal. Show all posts
Showing posts with label Wall Street Journal. Show all posts

Saturday, July 16, 2011

The U.S. Treasury Will Not Default


I received this in an email this morning, but do not know who the original author was. Nevertheless, it is well worth the read.

Despite all the rhetoric and posturing we see in the media and in Washington D.C., it is safe to say categorically that the U.S. Treasury will not default on its debt after August 2nd, even if the debt ceiling is not raised.  Not only will the Treasury be able to pay interest on U.S. debt obligations, but there is money for other essential programs as well.  However, there will be some serious cutting that has to happen because spending clearly exceeds revenues. [my underlining added here and below]
I believe a debt ceiling limit extension will be enacted.  However, let’s consider what might happen if the debt ceiling limit is not raised. Here in a Q&A format is what I believe you need to know at a basic level.
Q: What is a default?
A: In this case, a default would be the failure by the U.S. Treasury to make payments of principal or interest on its debt in a timely manner.
Q: In a given month how much does the Treasury owe as interest on its debt?
A: Roughly about $15–20 billion (more on this in a moment).
Q: How much revenue does the Treasury take in on average in a month?
A: Roughly about $200 billion.
Q: Are you saying the Treasury could pay interest on its debt 10 times over (or more) from monthly income?
A: Yes.  Therefore the likelihood of not paying interest on its debt is zero.
Q: But, what about redeeming bonds that come due?
A: As bonds come due, the Treasury would again use monthly income to pay them off. This would lower the debt owed beneath the so-called debt ceiling.  Then, the Treasury could turn around and issue debt in that amount up to the debt ceiling.
Q: Why then do Treasury Secretary Geithner and others in government make such apocalyptic statement about the horrors of default.
A: I’m afraid Secretary Geithner and others in government are doing the moral equivalent of yelling “Fire!” in a crowded theater and they are doing so for political reasons rather than financial reasons.  They simply do not want any interruptions in the bloated spending underway in Washington and they want to scare Americans into thinking the end of the world is nigh unless the gravy train keeps chugging along.
Math is hard for politicians
Now, let’s do the math to flesh out some of these points.  I know that for many politicians and pundits math is hard, but I’ll try to make it as simple as possible. If we do not raise the debt ceiling by August 2nd, we will not default on Treasury obligations.  Nor, will we have trouble making Social Security payments.  However, there would be a big drop — roughly 44% — in government spending because that percentage represents the difference between government revenues which would be about $200 billion for the full month of August and $172 billion for August if we start counting after the first week when the deadline hits.  Spending is slated to be over $300 billion that month.
Here are the numbers from an excellent and highly detailed study by the Bipartisan Policy Center (BPC) quoted in this piece [emphasis added]:
…The BPC study found that the United States is likely to hit the debt limit sometime between August 2 and August 9. “It’s a 44 percent overnight cut in federal spending” if Congress hits the debt limit, [BPC's Jay] Powell said. The BPC study projects there will be $172 billion in federal revenues in August and $307 billion in authorized expenditures. That means there’s enough money to pay for, say, interest on the debt ($29 billion), Social Security ($49.2 billion), Medicare and Medicaid ($50 billion), active duty troop pay ($2.9 billion), veterans affairs programs ($2.9 billion).
That leaves you with about $39 billion to fund (or not fund) the following:
Defense vendors ($31.7 billion)
IRS refunds ($3.9 billion)
Food stamps and welfare ($9.3 billion)
Unemployment insurance benefits ($12.8 billion)
Department of Education ($20.2 billion)
Housing and Urban Development ($6.7 billion)
Other spending, such as Departments of Justice, Labor, Commerce, EPA, HHS ($73.6 billion)
The decision to prioritize payments would fall on the Treasury department, and Powell points out it would be chaotic picking and choosing who gets paid (in full or partially) and who doesn’t…
No doubt picking and choosing who gets paid and who doesn’t would be chaotic.  And, lots of programs would not get their funding and that would lead to plenty of screaming.  Nonetheless, it should be clear from this exactly how much we are spending in excess of government revenues.  And, that could and should lead to a sober assessment of what government can and cannot do.
What about the bond market vigilantes
Earlier, I posted some of the thoughts of hedge fund manager Stanley Druckenmiller who discussed a potential Treasury bond default in a solid piece in the Wall Street Journal.  With his experience in the bond market, Druckenmiller’s voice adds a dose of common sense and street smarts to the discussion of the U.S. government debt ceiling and what might happened if the ceiling does not get raised.
In the piece, he pours cold water on the fiery and apocalyptic language being used by Treasury Secretary Geithner, Fed Chairman Bernanke and many others [emphasis added]:
…One of the world’s most successful money managers, the lanky, sandy-haired Mr. Druckenmiller is so concerned about the government’s ability to pay for its future obligations that he’s willing to accept a temporary delay in the interest payments he’s owed on his U.S. Treasury bonds—if the result is a Washington deal to restrain runaway entitlement costs.
“I think technical default would be horrible,” he says from the 24th floor of his midtown Manhattan office, “but I don’t think it’s going to be the end of the world. It’s not going to be catastrophic. What’s going to be catastrophic is if we don’t solve the real problem,” meaning Washington’s spending addiction.
As he holds Treasuries himself, it is clear that Druckenmiller has his own money on the line.
I have pointed out before that Geithner makes the flying leap from a failure to increase the debt ceiling to actual default, that is non-payment of interest on the debt we already have.  Even if the debt ceiling is not increased, the Treasury has plenty of funds to pay interest on existing debt.
The Wall Street Journal continues:
…It’s hard to think of someone with more expertise in the currency and government-debt markets, but Mr. Druckenmiller’s view on the debt limit bumps up against virtually the entire Wall Street-Washington financial establishment. A recent note on behalf of giant banks on the Treasury Borrowing Advisory Committee warned of a “severe and long-lasting impact” if the debt limit is not raised immediately. The letter compared the resulting chaos to the failure of Fannie Mae and Freddie Mac and warned of a run on money-market funds. This week more than 60 trade associations, representing virtually all of American big business, forecast “a massive spike in borrowing costs.”
On Thursday Federal Reserve Chairman Ben Bernanke raised the specter of a market crisis similar to the one that followed the 2008 bankruptcy of Lehman Brothers. As usual, the most aggressive predictor of doom in the absence of increased government spending has been Treasury Secretary Timothy Geithner. In a May 2 letter to House Speaker John Boehner, Mr. Geithner warned of “a catastrophic economic impact” and said, “Default would cause a financial crisis potentially more severe than the crisis from which we are only now starting to recover.”
It should be no surprise that Geithner is peddling such nonsense and it should be no surprise that Wall Street firms and government dependent agencies such as Fannie Mae are trumpeting similar views.  They don’t want the government gravy train to stop chugging along.
The WSJ continues:
…Mr. Druckenmiller is puzzled that so many financial commentators see the possible failure to raise the debt ceiling as more serious than the possibility that the government will accumulate too much debt. “I’m just flabbergasted that we’re getting all this commentary about catastrophic consequences, including from the chairman of the Federal Reserve, about this situation but none of these guys bothered to write letters or whatever about the real situation which is we’re piling up trillions of dollars of debt.”…
Good point.  The debt ceiling is a technicality.  The long-term issue is the size and scope of government and growing debt is just a symptom of that.
Update: On CNBC last week, Warren Buffett had a very good comment:
"I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection."  
Hat tip for Buffett comment: Barry Ritholtz
See also:
How I cut the deficit and saved the country
U.S. Deficit: Tax increases will never be enough

Tuesday, May 24, 2011

One Lawman With the Guts to Go After Wall Street

Truthdig
http://www.truthdig.com/report/item/one_lawman_with_the_guts_to_go_after_wall_street_20110518/

Posted on May 18, 2011

"there were no words, but images flooded every cell in her being ...4 and a half decades!"

"there were no words, but images flooded every cell in her being ...4 and a half decades!"