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Archive for the ‘Finances’ Category

Prohibition does not prevent cannabis use by children or the mentally ill, the vulnerable populations whom we supposedly want to protect. Instead, cannabis prohibition makes it more difficult for parents, patients, society, doctors and law enforcement to control cannabis use.

The Drug War makes honest education about cannabis impossible, and leaves cannabis users marginalized in ways that make their lives more stressful.
This stress is unhealthy for everyone, but it is certainly most damaging to people with schizophrenia.

Cannabis prohibition is not merely a failure; it is a counterproductive fraud that is harming those whom we claim we want to protect.
There are currently more teens in treatment centers for marijuana in comparison to those admitted for alcohol.
Only an idiot would have to ask why alcohol is not the no#1 problem
after all alcohol is perfectly legal ( If you are 21.)
That is due to responsible people handling alcohol by way of the carding and id system.

Contraband markets make no age disgression.
Since the crackdown on tobacco there are 75% fewer teens trying or using tobacco.
However when it comes to cannabis and other illicit substances it’s a whole
other ball game.
Control, regulation and better education work prohibition, dose not.
Or as John Walters of the ondcp (Office for national drug control policy) calls it “ a war on drugs” (Sorry John but it's true look at the Netherlands)

America loves a war even if it is on it’s own people.

One of several reason they don’t legalize drugs is not because of the harm of drugs,
But people would lose more money in the long run.
Some of the people behind the support of this irrational so called war are
The tobacco industry,
the alcohol and distilled spirit industry ( people simply don’t drink as much, or decide not to drink at all with cannabis meaning a decline in there sales.
The pharmaceutical corporations can not make money on whole or raw cannabis, but they can charge an arm and a leg for there synthetic Marinol (dronabinol) CIII.

The textile and paper industry would lose out from hemp production, since hemp dose not need to go through all the various processes that ordinary tree products would. Also it’s possible to get two harvest in one season.

However people don’t know the difference between industrial hemp and smokeable cannabis, yet they are able to distinguish between the two in other country’s like Germany, the UK , Netherlands and even Canada, but our `DEA agents are so dumb they cant tell the difference between a stalk and a bush.
Also people who have any knowledge of growing high quality cannabis will tell you that male plants should never be grown next to your high grade female plants,
(unless of course you want to pollinate for future seed production).
When it comes to farming hemp the males are left in tact to pollinate the females and produce as much seed as possible.

This would mean a seedy mess for the pot smoker to clean up and produce undesirable future generations of smokeable cannabis.

If anything, Hemp farming would be anti marijuana and would harm any outdoor pot farming within a one mile radius of any hemp farm.

The petroleum industry would also be affected, since almost everything that can be made from petroleum can be synthesized from hemp oil, everything from bio fuel to even plastics. If North America would use a third of it’s land for hemp production we could create enough bio fuel to supply an area the size of Canada.

Now also for a moment consider how many people are incarcerated over just cannabis who are currently in the prisons and jails.
If cannabis were legalized and all inmates serving time for cannabis were freed there would be an over abundance of empty cells, and millions of guards in this country would be no longer needed.
The prison building industry would almost be obsolete (, and if all drugs were legalized that would mean even more empty cells).

So the prison system must have some means of gaining more inmates.
Not to mention other areas such as treatment centers, probation. Etc.
or HIDTA high intensity drug traffic areas where money is fed in to law enforcement,
(they would miss there green $$$)

Drugs , not even alcohol are the cause of the fundamental ills of society, rather than checking people for the presence of drugs, they should first test people for stupidity, ignorance, greed and love of power.

You should also check out LAW ENFORCEMENT AGAINST PROHIBITION at

www.Leap.cc

I'm between loving to visit often and maybe living there–I guess living there. Of course, the pending drought just proves that ATL (city and metro cities) can barely provide enough water to its citizens when water levels are normal. Still, there is an abundance of art museums, beautiful state parks, Civil War sites, live concerts, eclectic eateries, and nightclubs to be had for relatively cheap prices. ATL even surprised me with how polite and courteous many of its natives are. The only thing that's not really cheap about ATL is the cost of living.

Depending on which part of the metro I worked, I'd live in Lithia Springs or Austell (west); or, Gwinett or Hall Counties (north).

Anywho, gimme your opinions. Thanks!

What Caused the Liquidity Crunch?

Last week the Dow Jones industrial average fell 4.2%, the steepest drop since March 2003. Financial shares took a beating on growing evidence that problems in the sub-prime mortgage market are spreading, making financing the corporate buy-outs that drove the market's rally more difficult.
Many financial market participants are of the view that there is a definite deterioration in credit conditions, which means less liquidity for private equity, stock buy-backs, and business expansion. Fed officials, however, have downplayed this claim.
In an interview with the Wall Street Journal on July 24 the president of the Philadelphia Federal Reserve Bank, Charles Plosser, said that the present slump in the housing market is not going to trigger a liquidity crunch and a consequent general economic recession. The reason for this is that banks are unlikely to curtail lending since their balance sheets are in good shape. Plosser attributes this to financial innovations (financial engineering) in the last 10 to 20 years that have enabled banks to distribute much of the risk.
Plosser adds:
Does that say nothing bad can happen? Of course not. But it means I'm a little more sanguine that that whole view of a credit crunch is probably not as applicable now as it might have been 10 or 20 years ago…. Banks in this district are pretty healthy …. Their biggest complaint is not housing mortgage defaults and credit crunch, it's the yield curve. They've got money to lend.[1]
(Banks as a rule lend at long-term rates and raise funds at short-term rates. Hence they prefer an upward sloping yield curve — when long-term rates are higher than short-term rates. At present the yield curve is relatively flat, which undermines profits from lending.)
Fed officials including Plosser present the current housing slump as the outcome of irresponsible lending by mortgage brokers and various other mysterious forces. On this logic it is the role of the Fed to monitor the situation in the housing market and, if required, to interfere in order to prevent the housing slump from spilling over to the rest of the economy.
We suggest that what we are currently observing in the housing market is the deflation of the housing bubble, which could be a precursor to a widely spread liquidity crunch. The deflation of the bubble is the result of the Fed's boom-bust monetary policies. Here is why.
We define a bubble as activity that has emerged on the back of the loose monetary policy of the central bank. In the absence of monetary pumping this type of activity would not have emerged. Since bubble activities are not self-funded, their emergence must come at the expense of various self-funded or productive activities. This means that less real funding is left for true wealth generators, which in turn undermines real wealth formation.
When new money is created, its effect is not felt instantaneously across all markets. The effect moves from one individual to another and thus from one market to another. In short, monetary pumping generates bubble activities across all markets as time goes by.
It is quite likely that the loose monetary policy of the Fed between January 2001 and June 2004 has laid the foundation for the emergence of various non-productive activities. (The federal funds rate target was lowered from 6.5% to 1%.)
An easy monetary stance coupled with fractional-reserve bank lending has given rise to an abundance of money out of "thin air." Between Q3 2001 to Q4 2004 the average yearly rate of growth of our monetary measure AMS stood at 7.5%. This should be contrasted with the rate of growth of 2% in Q2 2001 and 0.9% in Q4 2000. The illusory prosperity that the bubble activities have generated in fact amounted to the consumption of real savings and to a weakening of the pool of real funding — the heart of real economic growth.

Since June 2004 the Fed has reversed its monetary stance. The fed funds rate target was raised from 1% to 5.25% currently. In response to this the growth momentum of our monetary measure AMS has been in visible downtrend since Q4 2004. The yearly rate of growth fell from 7.1% in Q4 2004 to 1.4% in Q2 2007.

Once the Fed tightened its stance this started to undermine various activities that emerged on the back of the previous loose monetary stance. In short, these activities have come under pressure.
We have seen that the effect of changes in money supply (i.e., creating and supporting various non-productive activities) on various markets operates with a variable time lag. As a result of this, the effect from past changes in money supply can continue to assert its dominance notwithstanding more recent changes in the money supply. (Past loose monetary policies can still provide support to various bubble activities despite more recent tight monetary stance.)
We suspect that the tighter stance since June 2004 is only now starting to gain momentum with the housing market being hit first. This means that sooner or later the various other parts of the economy are likely to exhibit difficulties.
In short, the fall in the growth momentum of money is going to put pressure on activities that sprang up on the back of previous loose monetary policy. (Remember that bubbles are supported by means of loose monetary policy that diverts real funding from wealth generating activities. Once the money rate of growth slows down, this slows the diversion of real wealth, i.e., slows down the support for these activities.)
When various non-productive activities start to deflate, this tends to exert a direct and indirect effect on the quality of bank assets notwithstanding financial innovations. Obviously once this happens banks tend to curb their lending growth.
Does this imply that the United States is heading for a serious liquidity crunch and severe economic slump? We suggest that this will be dictated by the state of the pool of real funding.
If the pool of real funding is still growing then commercial banks are unlikely to curtail their lending — at the worst, they might reduce the rate of lending expansion. This means that instead of being liquidated, various false activities might be forced to slow down their pace of expansion.
Obviously, if commercial banks were to significantly curtail their lending then this could be indicative that the pool of real funding at the disposal of Americans is in trouble. Should commercial banks trim their lending it is likely to lead to a fall in money supply and to a liquidity crunch, all other things being equal.
For the time being, overall commercial bank lending is still expanding although at a slower pace. After climbing to 11% in November last year the yearly rate of growth fell to 8.3% so far in July. (In the week ending July 18, bank loans increased by .3 billion.)
Another possible source for a liquidity crunch is the Fed's policy of targeting the federal funds rate. In the week ending July 25, the Fed's balance sheet (also called Fed Credit) fell by .669 billion. The yearly rate of growth fell to 2.7% from 3.1% in June and 4.2% in March.
The decline in the pace of monetary injections by the Fed could be indicative that the current fed funds rate target of 5.25% is too high relative to economic activity. In short, a weakening in economic activity puts downward pressure on interest rates. To protect the target of 5.25% the Fed is forced to slow down its monetary pumping.

It follows that liquidity could come under severe pressure if the Fed decides to cling to the current fed funds rate target whilst the economy is weakening.
We can thus conclude that as the effect of the tighter monetary stance of the Fed since June 2004 gains strength the chances for a widely spread liquidity crunch are rising. The entire issue could further exacerbate should the Fed cling to the current fed funds rate target whilst the economy is weakening.
________________________________________
Frank Shostak is an adjunct scholar of the Mises Institute and a frequent contributor to Mises.org. He is chief economist of Man Financial, Australia. Send him mail and see his outstanding Mises.org Daily Articles Archive.

Ever since I was child, it has been a staple fruit in our household and among the households of the Armenian Diaspora worldwide, and of course Armenia itself.
In Armenian mythology, the pomegranate symbolizes fertility and abundance.
Please tell me what else is there about this magnificent fruit of Armenia.

Suze Orman on Financial Crisis Video

Prohibition does not prevent cannabis use by children or the mentally ill, the vulnerable populations whom we supposedly want to protect. Instead, cannabis prohibition makes it more difficult for parents, patients, society, doctors and law enforcement to control cannabis use.

The Drug War makes honest education about cannabis impossible, and leaves cannabis users marginalized in ways that make their lives more stressful.
This stress is unhealthy for everyone, but it is certainly most damaging to people with schizophrenia.

Cannabis prohibition is not merely a failure; it is a counterproductive fraud that is harming those whom we claim we want to protect.
There are currently more teens in treatment centers for marijuana in comparison to those admitted for alcohol.
Only an idiot would have to ask why alcohol is not the no#1 problem
after all alcohol is perfectly legal ( If you are 21.)
That is due to responsible people handling alcohol by way of the carding and id system.

Contraband markets make no age disgression.
Since the crackdown on tobacco there are 75% fewer teens trying or using tobacco.
However when it comes to cannabis and other illicit substances it’s a whole
other ball game.
Control, regulation and better education work prohibition, dose not.
Or as John Walters of the ondcp (Office for national drug control policy) calls it “ a war on drugs” (Sorry John but it's true look at the Netherlands)

America loves a war even if it is on it’s own people.

One of several reason they don’t legalize drugs is not because of the harm of drugs,
But people would lose more money in the long run.
Some of the people behind the support of this irrational so called war are
The tobacco industry,
the alcohol and distilled spirit industry ( people simply don’t drink as much, or decide not to drink at all with cannabis meaning a decline in there sales.
The pharmaceutical corporations can not make money on whole or raw cannabis, but they can charge an arm and a leg for there synthetic Marinol (dronabinol) CIII.

The textile and paper industry would lose out from hemp production, sinse hemp dose not need to go through all the various processes that ordinary tree products would. Also it’s possible to get two harvest in one season.

However people don’t know the difference between industrial hemp and smokeable cannabis, yet they are able to distinguish between the two in other country’s like Germany, the UK , Netherlands and even Canada, but our `DEA agents are so dumb they cant tell the difference between a stalk and a bush.
Also people who have any knowledge of growing high quality cannabis will tell you that male plants should never be grown next to your high grade female plants,
(unless of course you want to pollinate for future seed production).
When it comes to farming hemp the males are left in tact to pollinate the females and produce as much seed as possible.

This would mean a seedy mess for the pot smoker to clean up and produce undesirable future generations of smokeable cannabis.

If anything, Hemp farming would be anti marijuana and would harm any outdoor pot farming within a one mile radius of any hemp farm.

The petroleum industry would also be affected, sinse almost everything that can be made from petroleum can be synthesized from hemp oil, everything from bio fuel to even plastics. If North America would use a third of it’s land for hemp production we could create enough bio fuel to supply an area the size of Canada.

Now also for a moment consider how many people are incarcerated over just cannabis who are currently in the prisons and jails.
If cannabis were legalized and all inmates serving time for cannabis were freed there would be an over abundance of empty cells, and millions of guards in this country would be no longer needed.
The prison building industry would almost be obsolete ( and if all drugs were legalized that would mean even more empty cells).

So the prison system must have some means of gaining more inmates.
Not to mention other areas such as treatment centers, probation.etc
or HIDTA high intensity drug traffic areas where money is fed in to law enforcement,
(they would miss there green $$$)

Drugs , not even alcohol are the cause of the fundamental ills of society, rather than checking people for the presence of drugs, they should first test people for stupidity, ignorance, greed and love of power.

Check out Law Enforcement Against Prohibition at
<WWW.LEAP.CC>

We brought our child to a B-day party for another young one, and there was just an over-abundance of alcohol. Now the kids of course weren't drinking but there were lots of adults, out numbered the kids and mostly family. It seemed more like a family type of get together then a birthday and we just find it weird that there was any alcohol present especial so much!
Are we just close minded?
We also we told the Birthday ended at a certain time and the presents weren't even opened and there hadn't been any cake given. With no sign of that happening any time soon?

Prohibition does not prevent cannabis use by children or the mentally ill, the vulnerable populations whom we supposedly want to protect. Instead, cannabis prohibition makes it more difficult for parents, patients, society, doctors and law enforcement to control cannabis use.

The Drug War makes honest education about cannabis impossible, and leaves cannabis users marginalized in ways that make their lives more stressful.
This stress is unhealthy for everyone, but it is certainly most damaging to people with schizophrenia.

Cannabis prohibition is not merely a failure; it is a counterproductive fraud that is harming those whom we claim we want to protect.
There are currently more teens in treatment centers for marijuana in comparison to those admitted for alcohol.
Only an idiot would have to ask why alcohol is not the no#1 problem
after all alcohol is perfectly legal ( If you are 21.)
That is due to responsible people handling alcohol by way of the carding and id system.

Contraband markets make no age disgression.
Since the crackdown on tobacco there are 75% fewer teens trying or using tobacco.
However when it comes to cannabis and other illicit substances it’s a whole
other ball game.
Control, regulation and better education work prohibition, dose not.
Or as John Walters of the ondcp (Office for national drug control policy) calls it “ a war on drugs” (Sorry John but it's true look at the Netherlands)

America loves a war even if it is on it’s own people.

One of several reason they don’t legalize drugs is not because of the harm of drugs,
But people would lose more money in the long run.
Some of the people behind the support of this irrational so called war are
The tobacco industry,
the alcohol and distilled spirit industry ( people simply don’t drink as much, or decide not to drink at all with cannabis meaning a decline in there sales.
The pharmaceutical corporations can not make money on whole or raw cannabis, but they can charge an arm and a leg for there synthetic Marinol (dronabinol) CIII.

The textile and paper industry would lose out from hemp production, sinse hemp dose not need to go through all the various processes that ordinary tree products would. Also it’s possible to get two harvest in one season.

However people don’t know the difference between industrial hemp and smokeable cannabis, yet they are able to distinguish between the two in other country’s like Germany, the UK , Netherlands and even Canada, but our `DEA agents are so dumb they cant tell the difference between a stalk and a bush.
Also people who have any knowledge of growing high quality cannabis will tell you that male plants should never be grown next to your high grade female plants,
(unless of course you want to pollinate for future seed production).
When it comes to farming hemp the males are left in tact to pollinate the females and produce as much seed as possible.

This would mean a seedy mess for the pot smoker to clean up and produce undesirable future generations of smokeable cannabis.

If anything, Hemp farming would be anti marijuana and would harm any outdoor pot farming within a one mile radius of any hemp farm.

The petroleum industry would also be affected, sinse almost everything that can be made from petroleum can be synthesized from hemp oil, everything from bio fuel to even plastics. If North America would use a third of it’s land for hemp production we could create enough bio fuel to supply an area the size of Canada.

Now also for a moment consider how many people are incarcerated over just cannabis who are currently in the prisons and jails.
If cannabis were legalized and all inmates serving time for cannabis were freed there would be an over abundance of empty cells, and millions of guards in this country would be no longer needed.
The prison building industry would almost be obsolete ( and if all drugs were legalized that would mean even more empty cells).

So the prison system must have some means of gaining more inmates.
Not to mention other areas such as treatment centers, probation.etc
or HIDTA high intensity drug traffic areas where money is fed in to law enforcement,
(they would miss there green $$$)

Drugs , not even alcohol are the cause of the fundamental ills of society, rather than checking people for the presence of drugs, they should first test people for stupidity, ignorance, greed and love of power.

Check out Law Enforcement Against Prohibition at
<WWW.LEAP.CC>

Prohibition does not prevent cannabis use by children or the mentally ill, the vulnerable populations whom we supposedly want to protect. Instead, cannabis prohibition makes it more difficult for parents, patients, society, doctors and law enforcement to control cannabis use.

The Drug War makes honest education about cannabis impossible, and leaves cannabis users marginalized in ways that make their lives more stressful.
This stress is unhealthy for everyone, but it is certainly most damaging to people with schizophrenia.

Cannabis prohibition is not merely a failure; it is a counterproductive fraud that is harming those whom we claim we want to protect.
There are currently more teens in treatment centers for marijuana in comparison to those admitted for alcohol.
Only an idiot would have to ask why alcohol is not the no#1 problem
after all alcohol is perfectly legal ( If you are 21.)
That is due to responsible people handling alcohol by way of the carding and id system.

Contraband markets make no age disgression.
Since the crackdown on tobacco there are 75% fewer teens trying or using tobacco.
However when it comes to cannabis and other illicit substances it’s a whole
other ball game.
Control, regulation and better education work prohibition, dose not.
Or as John Walters of the ondcp (Office for national drug control policy) calls it “ a war on drugs” (Sorry John but it's true look at the Netherlands)

America loves a war even if it is on it’s own people.

One of several reason they don’t legalize drugs is not because of the harm of drugs,
But people would lose more money in the long run.
Some of the people behind the support of this irrational so called war are
The tobacco industry,
the alcohol and distilled spirit industry ( people simply don’t drink as much, or decide not to drink at all with cannabis meaning a decline in there sales.
The pharmaceutical corporations can not make money on whole or raw cannabis, but they can charge an arm and a leg for there synthetic Marinol (dronabinol) CIII.

The textile and paper industry would lose out from hemp production, sinse hemp dose not need to go through all the various processes that ordinary tree products would. Also it’s possible to get two harvest in one season.

However people don’t know the difference between industrial hemp and smokeable cannabis, yet they are able to distinguish between the two in other country’s like Germany, the UK , Netherlands and even Canada, but our `DEA agents are so dumb they cant tell the difference between a stalk and a bush.
Also people who have any knowledge of growing high quality cannabis will tell you that male plants should never be grown next to your high grade female plants,
(unless of course you want to pollinate for future seed production).
When it comes to farming hemp the males are left in tact to pollinate the females and produce as much seed as possible.

This would mean a seedy mess for the pot smoker to clean up and produce undesirable future generations of smokeable cannabis.

If anything, Hemp farming would be anti marijuana and would harm any outdoor pot farming within a one mile radius of any hemp farm.

The petroleum industry would also be affected, sinse almost everything that can be made from petroleum can be synthesized from hemp oil, everything from bio fuel to even plastics. If North America would use a third of it’s land for hemp production we could create enough bio fuel to supply an area the size of Canada.

Now also for a moment consider how many people are incarcerated over just cannabis who are currently in the prisons and jails.
If cannabis were legalized and all inmates serving time for cannabis were freed there would be an over abundance of empty cells, and millions of guards in this country would be no longer needed.
The prison building industry would almost be obsolete ( and if all drugs were legalized that would mean even more empty cells).

So the prison system must have some means of gaining more inmates.
Not to mention other areas such as treatment centers, probation.etc
or HIDTA high intensity drug traffic areas where money is fed in to law enforcement,
(they would miss there green $$$)

Drugs , not even alcohol are the cause of the fundamental ills of society, rather than checking people for the presence of drugs, they should first test people for stupidity, ignorance, greed and love of power.

Check out Law Enforcement Against Prohibition at
<WWW.LEAP.CC>

Does sexual sublimation/transmutation work (improve concentration, self-discipline and focus)?

Anecdotal experience welcome, but would love to know if there is any scientific evidence on this issue. Please provide a link/cite if possible, but no worries if you cant…