This is a video where Minister Farrakhan gives a fairly accurate historical account of the central bank and the Rothschilds. The passion he has at the end is inspiring. Great speech.

Free to Choose Part I

This is Dr. Friedman's pinnacle television series where he discusses the economic issues of the day and debates those issue with the top business, political and academic minds of the day. This video series is a great first step in being exposed to arguably the top economic mind of the 20th century.

http://www.youtube.com/watch?v=D3N2sNnGwa4&list=PLaju-Un0hbwenJNjmkOsEfaK1W4-qW0Mm

Wealth Inequality in America

Amazingly good graphical representation of wealth inequality. Please watch

Dr. King's Last Speech

During this period of the year in which we reflect on Dr. Martin Luther King’s life and legacy, I want to add my voice in the symphony of thought. Lately I have listened to Dr. King’s final speech in Memphis. That speech he made while in solidarity with the rights of working people. In it, he spoke of his trip to Jerusalem, where he toured the ancient land of David. While on his trip, he and Mrs. King drove to Jericho, and toured the road in which Jesus’ parable of the Good Samaritan was set. This road is called the “Bloody Pass”.  It was here Dr. King remarks that the priest and the Levite might have come down that road and asked, “If I stop to help this man in need, what will happen to me?” I am writing you today to take this story one step backwards. Because before the priest or the Levite can even ask, “What will happen to me?” they must be able to hear the cry of the needy.

            In Luke, the scripture says that both the priest and the Levite “saw” the man on the side of the road, however did they hear this man’s cry? Many of us see people who are in need. We see them on television during charity drives. We see them at our places of worship receiving help. We see them in the news, being the topic of some punditry. But do we hear their cry? Do we stop and try to bandage their wounds? Do we give them shelter from the cold or a place of refuge from their fear?  Do we give them a shoulder to cry on and a voice to the voiceless? Do we hear their cry? 

            Or, are we so ingrained in today’s society that we cannot hear the cries of the oppressed? Because, in today’s society we have been desensitized to the plight of those among us who are in need. Due to the economic segregation of our cities, they are invisible to us. Due to the politics of our time, their voices are marginalized to us. And due to tenor of our discourse many are ashamed to even be public with their struggle least they be demonized for their need. 

            So who are the oppressed and what does it mean to hear their cry? The cry of 46.2 million Americans that live in poverty today. The cry of that one child out of five that is uncertain that they will eat today. The cry of the American family that is now the fastest growing demographic entering the plight of homelessness. The cry of your community, finding its poor growing at a faster rate than its urban neighbors.

            On this Dr. Martin Luther King Holiday, as you reflect on the life and legacy of one of the greatest Americans ever, remember his speech in Memphis where he challenged his audience to do as the Good Samaritan did. And when you are on your path, do not only see your fellow man in need, hear their cry, and then ask yourself the same question Dr. King posed to the audience that day in Memphis, “If I do not stop to help his man, what will happen to him?” God bless you.

Dedicated to Pastor Chris Bell of the Ridge Faith Community, the legacy of Dr. Martin Luther King, Jr., and all of those Jesus spoke of in Matthew 25 when he spoke of “the least of these”. Especially the children. May God be with you every day. Amen

As seen on Black Politics on the Web: http://blackpoliticsontheweb.com/2013/01/24/dr-kings-last-speech/

Housing Affordability Index to Set Annual Record

The National Association of Realtors (NAR) gave America some goods news and bad news yesterday. The good news is that, in 2012, homes were more affordable than any other time since 1970. This is very great news and needs to be cheered. Although it came on the back of historically declining home prices and historically low interest rates, it is a good thing that homes are coming in line with median family incomes.

Now, the bad news. In 2013, the NAR predicts this indicator to fall 19% from its current rate of 198.2 to 160. This is really bad news seeing that the housing affordability index is "based on the relationship between median home price, median family income and average mortgage interest rate." What does this mean? In 2013, the NAR is predicting either home prices to rise, median family incomes to decline, or mortgage interest rates to increase or some negative combination of the aforementioned variables. The last two outcomes, a decrease in the median family income or an increase in mortgage interest rates, would not bode well for the development of a healthy economy.

The NAR's response to this expected decline was interesting.  "NAR President Gary Thomas said the minor erosion in affordability conditions moving forward could be mitigated by bank and regulatory policies.’Clearer rules from the government regarding future lawsuits and buybacks of Fannie and Freddie loans could encourage banks to use their massive cash holdings to originate more loans,' Thomas said.

'A more sensible lending environment that makes it easier for other financially qualified buyers to get a mortgage would allow many more households to enter the market, boosting home sales as much as 10 to 15  percent,' he added."

So the NAR believes that if our government eases its law enforcement efforts and be more definitive in its buyback procedures, then banks will lend more and, as a result, homes will become more affordable? I do not agree with this notion. I do agree that if banks make more money available for lending, this would create downward pressure on interest rates, however, as it did in early 2000s, increasing the money available for lending would also increase home prices by generating more potential homebuyers. This is called increasing the demand for housing. And if the increase in the money available to borrowers did not kick start demand for homes, Mr. Thomas has a followup suggestion. Mr. Thomas says financial institutions should open up lending to "other financially qualified buyers to get a mortgage" and "allow many more households to enter the market". This would certainly do the trick.

But, Mr. Thomas himself agrees that his suggestions would increase demand. In the article he said his suggestions could boost "home sales as much as 10 to 15 percent". However there is not comment on how this increased demand would have a negative effect on housing affordability. 

Relaxing government enforcement of US laws, increasing the amount of money available to borrowers, and decreasing the lending standards on borrowers, haven't we heard this before? While there is a discussion concerning what can be done to counter the upcoming pressures on home affordability, let me give a suggestion. The home affordability index is based on three variables, median home price, median family income and average mortgage interest rate. Since the US Federal Reserve Bank has shown no stomach to raise interest rates anytime soon, I am going to assume mortgage interest rates are going to remain historically low for yet another year. So that only leaves me the ability to make recommendations on how to keep median home prices down or how to increase median family incomes. Currently, I am not a supporter of declining home prices, due to their historically low rates, so I am not going to suggest a way in which to decrease home prices even further. This leaves only one variable left, and that is median family income.

My suggestion to counter the anticipated decrease in home affordability is not the government to ease its law enforcement efforts, but for our government to concentrate its efforts on, not job creation, but (I am going to coin a new word here) "American Dream" creation. Instead of them putting deficits first, put "American Dreams” first. Increase one’s ability to achieve their "American Dream" and you will increase the median family income. Increase the median family income and you will increase the ability of everyday American families to afford a home.

http://realtormag.realtor.org/daily-news/2013/01/09/housing-affordability-index-set-annual-record

Prayer

I just wanted to start my new year and my new blog with a prayer to God. A prayer that this blog be a tool for his plan. A prayer that this blog be pleasing to his sight. A prayer that this blog gives him many things to boast. A prayer that he guide my thoughts and my words as I tell the truth. A prayer that, as my grandfather would say, God grant me the serenity to accept the things I cannot change; courage to change the things I can; and the wisdom to know the difference. I pray that the readers of this blog be inspired to the truth you have brought, enlightened by the word, and impassioned to make a better tomorrow. It is in your name I pray. Amen