Update no.486

Update from the Heartland

No.486

4.4.11 – 10.4.11

Blog version: http://heartlandupdate.blogspot.com/

To all,
If there was only one place I was allowed to visit in Roma, Italia, it would be Cappella Sistina – the Vatican’s Sistine Chapel. You do not have to be Catholic, or Christian, or even religious to appreciate the true magnificence of the artistry of Michelangelo di Lodovico Buonarroti Simoni – the chapel frescos were completed in 1512. The following URL offers an engaging track-able, zoom-able view of the rejuvenated masterpiece:
http://www.vatican.va/various/cappelle/sistina_vr/index.html

The follow-up news items:
-- After the administration’s reversal of its long-held policy regarding the Guantánamo detention facility [482], Attorney General Holder announced the abandonment of the prosecution of Khalid Sheikh Mohammed in criminal court. The self-professed terrorist will be tried by military tribunal at Guantánamo facility.
-- Finally, thanks to the persistence of the French Bureau d’Enquêtes et d’Analyses (BEA) [equivalent of the U.S. NTSB] and the technology of the Woods Hole Oceanographic Institute, the remnants of Air France Flight 447 [391] have been located. Now, the grunt work begins. They will precisely map the floor of the Atlantic Ocean in the vicinity of the wreckage, and then they will bring up at least the tail section that contains the Flight Data Recorder (FDR) and Cockpit Voice Recorder (CVR) from a depth of 13,000 feet. Even after two years at the bottom of the ocean, they should be able to recover valuable and essential data for the investigation into what happened that fateful night on a routine flight.
-- After the massive Tohoku earthquake and resultant tsunami [482], Japan experienced a large, 7.4-magnitude aftershock 25 miles off the coast of Miyagi prefecture. A one-meter tsunami warning was issued but did not materialize. The largest earthquake I have ever experienced was a 6.5 magnitude event. I cannot imagine what a 9.0 or even a 7.4 magnitude earthquake would feel like. We all must admire the resilience and perseverance of the Japanese People. May God bless them as their struggle continues.
-- Near midnight Friday, the House and Senate approved yet another stopgap spending bill that will continue federal funding [481, 483] for the next six days, averting a government shutdown. Less than half a year remains in FY2011 and we still do NOT have an approved appropriations bill. The Library of Congress has not been able to keep up with the frenetic pace of budget negotiations, so I do not have any details, not even the title. Worse still, all this drama is largely because of abortion – one side rigidly insisting the State take direct control of a woman’s internal biological processes and the other side equally intransigent in their refusal to acknowledge the barbarity of the medical procedure. Now, the debt ceiling issue looms larger and more ominous at a time when Congress should be focusing on the FY2012 appropriations process.

All this yammering about increasing taxes on the rich has gone far enough; such gibberish is once again pabulum for the predisposed electorate. If we really want to increase taxes on the rich, let us start by closing the mind-numbing plethora of deductions, exceptions, waivers, dodges, protections, loopholes, and other such nonsense that effectively reduces the tax burden for those who can afford off-shore bank accounts, shell companies to hide income, and an army of accountants, bankers and lawyers to avoid taxes. I would be happy if the rich paid at least the same taxation rate that I did. In debates such as this, I am reminded of the ethical corruption of the British "An Act for the Restraining and Punishing Privateers & Pirates” [Colonial Entry Book, vol. XLIII, p. 14; 2.July.1681] that appeared noble prima facie, but actually gave the British East India Company an essential monopoly on commerce throughout the Empire, i.e., rich profits for the powerful, influential, landed gentry in England. The consequences of the piracy suppression law became one of the catalytic stimulants to the American Revolution. The current tax law in the United States does much the same for the powerful, influential elite of this Grand Republic . . . and you know how I feel about any form of elitism. So, let’s get serious about the rich paying at least what the rest of us minions pay every year. That’s my opinion and I’m stickin’ to it.

News from the economic front:
-- The People's Bank of China raised its benchmark lending and deposit rates by 0.25% -- the 4th increase since October – as the central bank continues to tighten its monetary policy to control inflation.
-- The Prime Minister of Portugal José Sócrates Carvalho Pinto de Sousa announced on Wednesday that the country is seeking financial aid from the European Union, becoming the third euro zone member after Greece and Ireland to require a bailout.
-- The European Central Bank raised its main interest rate by a quarter percentage point to 1.25%, becoming the first central bank among the world's large, developed economies to raise interest rates since the world entered recession in 2008. At the same time, the Bank of England kept its benchmark rate unchanged.

Comments and contributions from Update no.485:
Comment to the Blog:
“I think I can actually keep my comment brief this week.
“I mostly want to thank you for your pointing out the irrational nonsense of radical marketing from either end of the political spectrum. I share your distaste for this garbage. I have revived my blog and decided to focus it on communication issues. These ridiculous posters and their related slogans, brochures, emails, and other manifestations are a very important communication issue. You did an excellent job discussing both the distortion and the underlying reality.
“Also, under threats to our economic recovery, let us not leave out "too big to fail" banks and Wall Street in general.”
My reply to the Blog:
Your opinion is far more important than brevity; so, don’t hold back.
You are quite welcome. I could have gone on; it is one of my hot button issues. I am not keen on anything that divides. Compromise is hard enough without adding clearly emotional ploys designed to stir up differences between us rather than seek solutions.
Re: banks. Oh my gosh, yes, I agree. There was a segment on 60 Minutes last night [3.April] about banks falsifying mortgage records for bankruptcy proceedings; that was the first I had heard of the atrocious, disrespectful, despicable conduct. What’s worse, the bankers and Wall Street have gone back to the obscenity of the very behavior that got us into this mess in the first place. The moneymen are important to the recovery, but as you say, they are also and will remain a major threat to economic recovery if they allow their greed to overwhelm their common sense, greater responsibilities, and duty to this Grand Republic. We can only hope sanity returns eventually to the moneymen.

Another contribution:
“I agree with your position on this issue and provide a few additional thoughts.
“This is a perfect example of the ageless tactics of politics and political parties, aka Politics 101:
“1. The aggressor finds someone or some people/organization to blame
“2. The aggressor applies labels to the “offending” entity to create fear among the populace.
“3. Anyone who provides support to the ‘offending’ entity, or disagrees with the party line of the aggressor is labeled as part of the problem.
“Unfortunately, we seem to be past the age where reasonable men could disagree and have rationale debates over issues. In other words, when honorable men could disagree honorably.
“With the news media saturating our environment 24/7, sensationalizing items for the purpose of advancing the media’s self-serving agenda, the effects of Politics 101 are amplified.
“My personal belief is that the responsibility to maintain rational thought and opinions still rests with ‘We the People,’ and it is up to us to get the message to the media, and to the political parties, that, as you so aptly put it, ‘I am fed up. I am mad as hell, and I am not going to take this any more.’”
My response:
Well said. Spot on! I can’t add another word.
We, the People, are this Grand Republic . . . not the President, or Congress, or the Supremes, or corporations . . . We, the People! While the tools to sort through all the gibberish have expanded, far too many of us succumb to the vitriol of partisan politics, rather than the greatness of this Grand Republic.
Let freedom ring!

My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)