Back to Basics

The North Atlantic Current is Gone

The latest satellite data establishes that the North Atlantic Current (also called the North Atlantic Drift) no longer exists and along with it the Norway Current. These two warm water currents are actually part of the same system that has several names depending on where in the Atlantic Ocean it is. The entire system is a key part of the planet’s heat regulatory system; it is what keeps Ireland and the United Kingdom mostly ice free and the Scandinavia countries from being too cold; it is what keeps the entire world from another Ice Age. This Thermohaline Circulation System is now dead in places and dying in others.

This ‘river’ of warm water that moves through the Atlantic Ocean is called, in various places, the South Atlantic Current, the North Brazil Current, the Caribbean Current, the Yucatan Current, the Loop Current, the Florida Current, the Gulf Stream, the North Atlantic Current (or North Atlantic Drift) and the Norway Current.

The thermohaline circulation is sometimes called the ocean conveyor belt, the great ocean conveyor, or the global conveyor belt.

It is a university level physics experiment to use a tub of cool water and inject a colored stream of warm water into it. You can see the boundary layers of the warm water stream. If you add oil to the tub it breaks down the boundary layers of the warm water stream and effectively destroys the current vorticity . This is what is happening in the Gulf of Mexico and in the Atlantic Ocean.

The entire ‘river of warm water’ that flows from the Caribbean to the edges of Western Europe is dying due to the Corexit that the Obama Administration allowed BP to use to hide the scale of the BP Deepwater Horizon Oil Disaster. The approximately two million gallons of Corexit, plus several million gallons of other dispersants, have caused the over two hundred million gallons of crude oil, that has gushed for months from the BP wellhead and nearby sites, to mostly sink to the bottom of the ocean. This has helped to effectively hide much of the oil, with the hopes that BP can seriously reduce the mandated federal fines from the oil disaster. However, there is no current way to effectively ‘clean up’ the bottom of the Gulf of Mexico, which is about half covered in crude oil. Additionally, the oil has flowed up the East Coast of America and into the North Atlantic Ocean, and there is no way to effectively clean up this ‘sea bottom oil’. It is likely, based on numerous reports, that the oil is still flowing in massive amounts from multiple places on the seabed floor. This effectively means, that even if we had the technology in place to somehow clean up the free flowing thick crude oil deep in the ocean, it would likely not be enough to reverse the damage to the Thermohaline Circulation System in the Atlantic Ocean.

Dr. Deagle: The evidence has come in from ROV video and other experts such as Matt Simmons, BK Lim, and Lindsay Williams and my own anonymous whistleblowers from inside the closed circle of Cameron Ironworks, Tranocean Marine , Oceaneering International. My source provided very solid info re the ROV analysis by Oceaneering engineers that the BOP Blow Out Preventer was ‘modified’ and never had hydraulics to close the BOP. BP knew that the field had dangerous high levels of methane, hydrogen sulphide, and pressures exceeded any valve technology as the current state of the art. The seeps continue along a fractured fault line from the Macondo well site where evidence presented by BK Lim that the only well of three that reached the abiotic batholith ocean of oil and gas was never capped or stopped and has continued to leak along the ocean floor and inject oil and gas and tar into the rock strata.

Dr Gianluigi Zangari PhD from the Frascati Institute is a Theoretical Physicist, who has worked for years with a collaborative network of scientists monitoring the Gulf of Mexico Loop Current and its contribution to the Thermohaline Current System that makes the Gulf Stream that becomes the North Atlantic Drift Current and subcurrents. After receiving a contact from a naval scientist via a regular guest on the NutriMedical Report national radio show, on Genesis Network, John Moore sent Dr. Deagle the info on Dr Zangari’s work. Dr. Deagle contacted him by SKYPE and and within minutes was conversing by SKYPE to Italy with Dr Zangari re his serious analysis with data from six satellites of the May to June 12th 2010 dissolution of the Loop Current. Over the next few weeks to July 28th, with numerous interviews on The NutriMedical Report and LiveStream.com/TheNutriMedicalReportShow updates, final proof was provided that the Gulf Stream had been stopped cold at the 47th longitudinal parallel with a 10 degree Celsius ocean temperature drop, and loss of velocity and energy, so that the Gulf Stream was only able to be measured by satellite to less than one-third the way across the Atlantic ocean. As Dr Zangari stated, this is not the butterfly effect but the ‘elephant effect’, and with the amount of oil released, the natural system linked as the pacemaker to world climate for millions of years, this was now gone, replaced by an artificial system with a Gulf of Mexico by late July seven degrees Celsius above normals, and totally disconnected Loop Current from the Florida current that becomes the Gulf Stream. In his reported on June 12th 2010 in a journal article, the CCAR Colorado data agreed with the NOAA and US Naval Satellites data. This live satellite data map later altered on the CCAR servers, and he emailed that this was “to falsify” and he could not explain this fact logically. He returned to NOAA and US Naval data on the same and later dates and stated by early August that the CCAR data was no longer reliable and his conclusions was not changed in quality or quantity of the serious consequences. His conclusion that ‘glaciation’ at an unknown pace was inevitable from this disaster.

Almost a month ago, we broke the story that the Loop Current in the Gulf of Mexico had effectively died. We quoted Dr. Gianluizi Zangari, who first discovered the damage to the Thermohaline Circulation System:

In Colonial America it was common for British soldiers, tax collectors and other representatives of the Crown to obtain a writ of assistance giving them the authority to enter any home, business or ship at any time of the day or night in search of contraband goods or to interrogate the residents and owners over payment of taxes or for most any other reason.

Writs of assistance were very vague search warrants and it was a simple procedure to obtain them. They could be had for any reason or no reason from the Colonial governor or from judges — all of whom held their positions at the whim of the King of England.

In 1761 James Otis Jr., the Advocate General of Massachusetts — whose job it was to defend the issuance of the writs in court — resigned his position and took the side of 63 Boston merchants in a court battle against the writs. He represented the merchants for free, and though he lost the case in a court stacked against him, he earned the title of patriot.

It was his five-hour speech in court that served “as the spark in which originated the American Revolution,” according to John Adams, who was sitting in the courtroom at the time.

“The child of independence was then and there born, every man of an immense crowded audience appeared to me to go away as I did, ready to take arms against writs of assistance,” Adams said.

The issue was such an important one to the Colonists that it was mentioned as one of the grievances in the Declaration of Independence: “He (the king)… sent hither swarms of Officers to harass our people, and eat out their substance.”

Democratic governments derive their legitimacy from popular support in direct elections. Non-Democratic governments derive their legitimacy from a “special duty” to protect the country as embodied by a particular racial or economic group, in accordance with a set of overriding values. Such governments will typically explain that they cannot have democracy, because open democracy would endanger the groups and values that they are trying to protect. Democracy becomes the enemy, a threat would unleash the very evils they are trying to prevent. They will claim that at some future time, when all the threats have been purged, democracy will become possible. But not now.

The paradox at the heart of this is obvious. If the non-democratic regime really represents the people, then why not allow the people to have the final say? The regime will have two answers. 1, The people are not mature enough to be able to make an informed decision. 2, There are destructive elements in the country that would corrupt the elections.

The first answer is the more honest one, because it admits that the regime believes that the people are too stupid to govern themselves. That its leadership is wiser and better than the people they rule over. Only at some future time when the people have been sufficiently reeducated, they might be ready for some power. The second answer moves into the realm of conspiracy theories, as the regime has to find internal enemies to suppress, in order to justify their tyranny. These internal enemies had to be an “elite”, powerful enough to run everything in secret. Powerful enough to justify tyranny and massacres in order to combat them.

The French Revolution’s Committee of Public Safety, Nazi Germany and the Soviet Union all demonstrated the successive rounds of bloodshed needed to maintain their hold on power. Tyranny was justified by resorting to the powerful enemies they had to fight, which in turn justified the atrocities they committed. The freemasons, the Jews, the capitalists– all examples of covert forces that had to be fought through repression and tyranny.

Let’s begin by looking at how Lenin justified Soviet tyranny

“Infatuated with the “purity” of democracy, Kautsky inadvertently commits the same little error that all bourgeois democrats always commit, namely, he takes formal equality (which is nothing but a fraud and hypocrisy under capitalism) for actual equality! Quite a trifle!

The exploiter and the exploited cannot be equal. This truth, however unpleasant it may be to Kautsky, nevertheless forms the essence of socialism. Another truth: there can be no real, actual equality until all possibility of the exploitation of one class by another has been totally destroyed.”

American liberals today routinely make Lenin’s distinction between “formal equality” and “actual equality”. Their mission is not that of formal or legal equality, in which people have the same rights under the law– but “actual equality”, which they like Lenin define, as the destruction of all people and institutions they consider to be an obstruction to equality.

Where formal equality is democratic. Actual equality is undemocratic, and of course unequal. It’s a license to tyranny by a small unelected group that has unlimited powers to make war on everyone and everything that they label reactionary or repressive.

Today Obama and the Democrats justify their undemocratic actions in the same way. Wealth redistribution, union control of corporations, affirmative action, nationalization of industries are all tools of “actual equality”. They justify their resistance to popular protest, by first resorting to the “actual equality” argument and claiming that their opponents are tools of the capitalist political elite.

In contradiction to the US Constitution’s First Amendment referencing the prohibition of the US government’s establishment of a State religion, the Obama has decided to institute Islam’s “religion” Muslimism as the US’ first state-sponsored religion. As Islam is first and foremost a governmental/political system — with the “faithful” following its feudal tenets with Muslim worship of Allah — I suspect that the final overthrow of the US government’s Republic will be very soon. And, STILL no one is stopping the tyrant.

Why do I make these claims? Let’s take a look at what the dictator is now affecting. Imam Feisal Abdul Rauf is the radical cleric who is spearheading the establishment of the 9/11 Islamic Victory Mosque (and suspected terrorist training center) at ground zero. Rauf is also the Imam sponsored by the Obama government’s State Department (paid for by the US taxpayer) to engage in a fundraising tour of Muslim countries for the Ground Zero Victory Mosque. Suffice it to say, this is illegal under the United States Constitution, as the tyrant is now effectively sponsoring Islam as the official “religion” if not governmental system of the soon-to-be-if-we-don’t-stop-him former United States of America.

No US President has sponsored a state-run religion. But, Islamist Usurper-and-Dictator-in-Chief Barack Hussein Obama has now done so. Interestingly, since the Obama seizure of the White House, Muslims are allowed to pray when and where they will, while Christians are denied prayer or even the mention of Jesus more and more. This is what Islam does. It replaces and dominates, conquers and crushes every other religion and government system. And it now has a friend and fellow Muslim in the White House. Obama celebrates the Islamic holiday of Ramadan while shunning the Christian National Day of Prayer. At The Obama’s speeches from the White House, there are now fewer and fewer times that the United States flag is present. Note: Other than itself, Islam recognizes no form of government or national sovereignty. Islamic Shari’a law is already being established on the State, if not federal, court level and new Obama SCOTUS Associate Justice Elena Kagan supports it.

Aiding and abetting the Obama & Co criminal enterprise, the mainstream press (aka the ObamaMedia) largely refuses to report on any of these treasonous (that’s High Treason) actions. And it appears that the now being-replaced-by-only-Obama & Co Congressional members don’t care that they’re been pushed aside, as long as they can continue to steal from We-the-People and enrich themselves. After OUR country has been destroyed and Americans are in the chains of slavery (either figurative or literal), We-the-People will have no more power over our own lives. And Dhimmitude (the Islamic system of subjugating, controlling and extraordinarily taxing non-Muslim populations) will have been firmly established. Historically, Islam was heavily involved with the African slave-trade and still practices it, today, in both Sudan and Mauritania. Like Marxism, Islam is a patently feudal system. The rulers (Imams in Islam) are at the top and the serfs (the people) are at the bottom. There is little-to-nothing in-between; hence Obama’s obsession with the destruction of the US middle class.

Again, either We-the-People wake up fully to what is happening to our country and way of life and end the tyranny that is already upon us, or prepare ourselves for death or imprisonment. This is the truth and reality that the leftist media still refuse to report. And until they are directly and adversely affected, they won’t. It’s our choice. Do we fight or submit? That’s all that we have remaining, folks — that choice and prayer. Oh and by the way, the shout of “Allah Akbar” does not mean “God is great.” Rather, it means “Our God is greater [than yours].” Still think they worship the same God as do Jews and Christians? Better think again.

The Ground Zero Mosque — What Have We Not Been Told?:
http://www.familysecuritymatters.org/publications/id.7079/pub_detail.asp

Obama’s State Department Bankrolls Ground Zero Imam Rauf’s Middle East Fundraising Tour:
http://atlasshrugs2000.typepad.com/atlas_shrugs/2010/08/obamas-state-department-bankrolls-ground-zero-imam-raufs-middle-east-fundraising-tour-us-muslim-enga.html

Harry Reid’s advancing dementia became quite obvious recently when he used the Race card in a feeble attempt to paint all Republicans as anti-Hispanic bigots.

As reported at alternet.com, Harry’s words of wisdom were:

“I don’t know how anyone of Hispanic heritage could be a Republican, OK,” said the ranking Democrat at a campaign event with Latino supporters earlier this week. “Do I need to say more?”

Actually, Harry, you did say quite a lot more on the floor of the U.S. Senate when you declared that illegal aliens (90% Hispanic) are scam artists and free loaders.

Surely you remember this classless diatribe from just few years ago?

Your office released the following statements (in bold) concerning illegal immigration:

“In response to increased terrorism and abuse of social programs by aliens, (I) today introduced the first and only comprehensive immigration reform bill in Congress. Currently, an alien living illegally in the United States often pays no taxes but receives unemployment, welfare, free medical care, and other federal benefits. Recent terrorist acts, including the World Trade Center bombing, have underscored the need to keep violent criminals out of the country.”

Your bill, Senator Reid, titled the “Immigration Stabilization Act,” would overhaul the nation’s immigration laws, and calls for a massive scale-down of immigrants allowed into the country. The bill also changes asylum laws to prevent phony asylum seekers.

The senator said the U.S. open door policy is being abused at the expense of honest, working citizens.

Today, people are more persuaded than ever that they have perfect freedom, yet they have brought their freedom to us and laid it humbly at our feet.”

The Grand Inquisitor
Freedom doesn’t grow on trees. It exists by virtue of independence from the powers that might take that freedom away. Since there is no such thing as perfect freedom, and we must all live under one form of authority or another, rights exist to fence out authority from the space allotted to freedom. Rights create an artificial form of freedom through a covenant with the authorities. The more leverage the citizens have over the authorities, the more they can prevent those rights from being trampled upon.

The problem begins when those rights are taken for granted. For example when people begin to assume that the rights they enjoy are inherent to the system, so that they don’t have to worry about them. As long as the system exists, so do their rights.

In the United States, many Americans assume that as long as the flag waves and everyone celebrates the 4th of July, then their rights are safe. But it is entirely possible to have an America in which the flag still waves and people still go to see fireworks on the 4th of July, and in which there are no more rights or freedoms left. The only way this can happen though is when people forget what the flag means and what the 4th of July means, the symbolism of a flag composed of individual states, and a holiday celebrating the Declaration of Independence, which holds that a people may overthrow a government when it violates their rights.

It is dangerous to celebrate symbols, while forgetting what they mean. Because a nation’s fundamental symbols are the keys to its power. They are its scepters and thrones. And when people forget what the symbols mean and begin bowing to the symbols themselves– it becomes possible for a tyrant to take the symbols and have people bow to him, even as he desecrates what those symbols actually stand for.

Obama’s rise to power could not have taken place except through a forgetfulness that has been with us for some time now. And Obama has been quite talent at manipulating symbols, posing in front of half a dozen flags, a Superman statue, glowing halos, historic sites and documents. That these symbols have no meaning to him except as tokens of power, that his very presence next to them or adjacent to them, should be anathema because of the profound gap between the ideals they represent, and the agenda he represents, is obvious to those who remember that symbols also have meanings.

But Obama’s success is due to those who do not remember. To whom the flag represents America, but who do not understand that it is not a random selection of shapes meant to look pretty against a blue sky. To whom the Constitution is a document that protects their freedoms, without understand how it does that and what part their active participation must play for it to work. And so Obama exploits symbols, while the media warns about the dangers of anyone literate enough to understand their meanings. In the kingdom of the blind, the one eyed man is a dangerous extremist. Because he can see what those in power can’t.

Expelled for being Christian. That’s the fate of two college graduate school students at separate universities that apparently should just put a sign out front that says, “Christianity Not Accepted Here.”

Julea Ward lost her lawsuit against Eastern Michigan University July 26. She sued after she was dismissed from a counseling program in March, 2009, for not affirming homosexual behavior as morally acceptable.

While in a counseling practicum course in the school in January, 2009, she was assigned a potential client who needed help regarding a homosexual relationship. Knowing she couldn’t affirm the client’s homosexual relationship without compromising her religious beliefs, Ward asker her supervisor how to the handle the matter.

The supervisor assigned the client to another counselor. The university then told Ward she would have to undergo a “remediation” program to help her “see the error of her ways” and change her “belief system” if she wanted to stay in the program.

She claims EMU faculty denigrated her Christian views and asked inappropriate and intrusive questions about her religious beliefs. She was then dismissed from the counseling program.

She appealed to the dean who upheld the dismissal. Now a Federal court has sided with the school.

Suppose we have two groups. Group A believes that women are human beings, just like men are, and that they should be equal partners in their society. Group B believes that women were created by the devil to tempt men,  that they have no human rights, and that they must be used to have as many children as possible. If Group A and B live in different parts of the world, each region will develop in a way that reflects their different ways of life.

Group A will have highly productive workforces and individual freedom, high divorce rates and low birth rates. By contrast Group B will have high birth rates, no divorces, weak productivity and no freedom. Both groups enjoy the consequences of living in tune with their worldviews. For a while. But what happens when Group B begins to move its surplus population into the region of Group A? The higher birth rate enjoyed by Group B will make it more aggressive, particularly since a society that devalues women will also cull baby girls and practice polygamy leading to a surplus of young male. But those same qualities will also help keep it backward, making it much less effective militarily against a modern productive and efficient society. Group B will therefore have a great deal of trouble successfully invading Group A’s territory, unless Group A allows it to happen. That of course is the situation we’re faced with today. There are a number of approaches that would balance the demographic scales between Group A and punish Group B. For example, Group A might refuse to share the advanced medical technology that its society develops with Group B, unless the latter agrees to enact certain reforms that will grant rights to women and help lower the birth rate. If it agrees Group B will have a more stable and less threatening society. If it refuses, its high birth retain will have to compete with a high death rate. However if Group A provides Group B with the benefits of its medical technology, without demanding social reforms as the price– then Group B will pose even more of a threat, because its population boom will continue for ideological, rather than biological reasons, no longer to compensate for a high death rate, but on purely competitive grounds. Group B will begin suffering from a population surplus, which it will try to export into the territory of Group A, by force or immigration, collectively or individually. Group A will now begin experiencing demographic competition on its own soil. If like so many empires throughout history, it sees them as a beneficial form of cheap labor that will help keep its own citizens prosperous by making the cost of goods and services cheaper, it will have eventually doomed itself through demographic suicide. By reaping the benefits of Group A’s social setup, without accommodating itself to those same parameters, Group B is engaging in social parasitism, partaking only of the advantages to themselves, while avoiding their natural consequences. Much the same as a welfare recipient benefits from a social safety not paid for by active workers, exploits a system without paying into it– Group B exploits Group A’s social setup that it cannot recreate on its own. Alternatively Group A might prevent Group B from settling in its territory. This would force Group B to live with the consequences of its ideology. Group B would be allowed to fail, and have the chance to learn from that failure, and enact reforms for a more stable society. Forcibly attempting to invade Group A’s territory, would show Group B its own impotence, and force it to contemplate the causes of that impotence. It will probably not draw the right conclusions, much as the Arabs in the aftermath of several lost wars, decided the solution was not a civilized society, but to replace Arab Socialism with Islamism. But they will have the time locked up in their own territory to contemplate and to change. They will have examples of what to become and what not to become. So long as there is distance, both groups can live with the consequences of their social setups. However once Group B migrates into the territory of Group A, so long as Group A tolerates it– it only needs to compete on demographics. And not on anything else. No matter what else Group A achieves, it will eventually be outnumbered by Group B. The resulting society will have the values and laws of Group B, unless Group A tries to maintain a tyranny. Even this will not avail it in the long run, as tyrannies must mimic the values of their subjects to be effective. If they fail, they will be toppled. So if Group A does nothing to change the terms of the competition, it is hopelessly doomed.

Group A’s problem is that its sophistication causes it to have a wider definition of cooperative groups than Group B does. Where Group B’s nexus of loyalty is blood kin, Group A compensates for the lesser role of the family by providing for multiple levels of social interdependency. Group B’s families can exploit these systems for the benefit of their own families, while retaining their blood ties as the primary nexus of loyalty. Its second nexus of loyalty is an ideology that encompasses all members of Group B, but none of Group A. So while Group A’s cooperation values lead it to try and cooperate with Group B, Group B has no such value system. When Group A looks at Group B it sees human beings, when Group B looks at Group A, it sees outsiders. So Group A will cooperate with Group B even at a loss for itself, but Group B will not cooperate with Group A unless there is a direct benefit to it, and sometimes not even then. As a result Group A keeps trying to cooperate with Group B, which instead of cooperating takes but doesn’t give, thereby destabilizing the social setup. If Group A continues to tolerate such behavior, members of Group A will try to begin joining Group B, to protect themselves or to gain advantages in the competition for resources. While members of Group A cannot be part of Group B’s primary nexus of loyalty, they can become part of its secondary nexus of loyalty. Within Group B, people who are protected by the secondary nexus, but are not blood kin, have a second class status. But within Group A, those who are members of Group A already hold third class status, because they have obligations to Group B, which has none to them. Since ordinary Group A citizens have become third class, those who are even part of Group B’s secondary nexus of loyalty are already a step ahead of them in the shifting landscape of the country. Since Group A’s society is cooperation based, it will try to accommodate Group B. However since Group B’s society is authoritarian based, it will refuse to accommodate Group A. The less clearly Group A insists on reciprocity in its social contract, the less Group B will cooperate with it, since it does not cooperate without  gain for its nexus of primary loyalty. Group B’s rejection of interoperability cripples it socially, but not demographically. Group A’s openness enhances its skills, creativity and knowledge; but dooms it in the demographic competition. While Group A thinks that the net result of their interaction will be Group AB, Group B thinks that the net result will be Group BB. And while Group B is not entirely right, Group is entirely wrong, because while Group B will be influenced by Group A, it will still absorb it. Group A allows itself to be defeated by failing to meaningfully leverage its strengths, instead relying on a social and political model that is no longer relevant to the problem it faces. That is because like most societies and cultures, it has a blind spot when it comes to its own weaknesses, either refusing to recognize them, or insisting that they are actually strengths. Group B is doing the same thing, but by exploiting Group A, it has actually managed to take its greatest weakness and turn it into a limited strength. Group A has no one to exploit but itself. Its own system insures that its limited attempt to exploit Group B will cost it, more than it will cost Group B.

Group B’s authoritarian nature, its willingness to use force and its birth rates insure its victory, unless Group A changes the terms of the conflict, not through denial, but through a realistic assessment of the situation. Group A can either choose to submit and become part of the secondary nexus of loyalty in Group B, or even accept a lower status than that, or resist the occupation of its territory and its culture by Group B. Which means working to reverse the facts on the ground created by the invasion, loosening the social and economic footholds of Group B, and removing as much of Group B’s population from its territory as possible, while preventing further migrations. Like many cultures, the self-images of Group A and Group B vacillate between omnipotence and impotence. In the omnipotent state of mind, the group believes that it is invulnerable and destined to succeed. In the impotent state, it believes that it is doomed and completely incapable of doing anything to change that. This cultural form of manic depressive thinking can actually lead from one to the other. Both however are misguided and dangerous. A culture which feels that it has hit bottom, may rebound with a sense of false omnipotence by seizing on an old or new idea to reinvigorate its identity. And a culture which is cloaked in its own sense of omnipotence may be unwilling and incapable of recognizing how bad things have gotten, only to sink into impotence when it does. In this scenario Group A is suffering from impotence, while Group B is experiencing omnipotence. And few in either group understand how quickly the tables can be turned. But a cultural rebound can be just as destructive, because desperate people will seize on anything that offers them hope, without thinking it through. And hope without reason can be a very dangerous thing.

The powers in Washington, D.C. seem to be living in a parallel universe from the one the rest of the nation occupies. Even worse is the way the Obama White House and Democrat controlled Congress appears to be hell-bent on destroying the economy before they can be voted out of office.

No Congress since the days of the Great Depression and the Roosevelt administration has been driven to pass legislation that is more injurious to the present and future of the nation. It began with the so-called Stimulus Act that is widely seen as a failure, followed by Obamacare, the government takeover of one sixth of the economy replete with the rationing of care that will literally kill some people.

On Wednesday the President signed “financial reform” legislation that will play havoc with the financial industry while expanding government regulation still further.

Let us examine the reality. Washington tells us that the unemployment rate is 9.5%. Raghavan Mayur, president of TechnoMetrica Market Intelligence has been closely following unemployment data. His survey in May revealed that 28% of a thousand households reported that at least one member was looking for a full-time job.

Mayur’s firm owns the TIPP polling unit, a polling partner for Investors’ Business Daily and Christian Science Monitor. The June poll revealed 27.8% of households experiencing unemployment and, in the second week of July, it showed 28.6%. That translates to an unemployment rate of more than 22%!

The so-called financial reform act is likely to be as great a power grab as Obamacare, but it totally ignores the root cause of the 2008 financial crisis, Fannie Mae and Freddie Mac, the two government sponsored “entities” whose collapse revealed that many of mortgages granted by banks and lending companies, and then purchased by Fannie and Freddie for bundling and resale were inherently unsound.

Why? Because the government had long been pressuring banks and mortgage lenders to issue mortgages to people who could not afford to borrow the price of a hamburger. They were called “Ninja” loans; no job, no assets.