Today it is even more disconcerting, Obama's drilling moratorium may have been blocked by a judge today, but Secretary of Interior Salazar intends to announce a new one tomorrow. And the longer this "moratorium" lasts, the more likely we are to see the Oil Rigs in the gulf move down to Brazil where they are planning to drill for oil in seas twice as deep as the Deepwater Horizon site.
Why would the POTUS pay for a foreign country to drill for oil but object to his own country taking advantage of his own country's resources? And worse why would he fund the oil drilling of another country for it to "steal away" drilling resources from the Gulf sites? Payback.
Last August Ed Morrissey at Hot Air discovered that "coincidentally" just a few days before the announcement of the US Oil Exploration Aid, George Soros the presidential puppet-master, set himself up to make a lot more money from Brazilian Oil Exploration:
His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. Soros bought 5.8 million of the company’s U.S.-traded preferred shares.NICE! Making money on the spread, and putting himself in a position to make more money from higher dividends just before all the big bucks "donation" from President Obama. Soros must be master of the deal or Obama is the master of the quid quo pro.
Soros is taking advantage of the spread between the two types of U.S.-listed Petrobras shares, said Luis Maizel, president of LM Capital Group LLC, which manages about $4 billion. The common shares were 21 percent more expensive than preferred today, according to data compiled by Bloomberg. …
Petrobras preferred shares have also a 10 percent additional dividend, said William Landers, a senior portfolio manager for Latin America at Blackrock Inc.
“Given that there will most likely never be a change in control in the company, I see no reason to pay a higher price for the common shares.” Brazil’s government controls Petrobras and has a majority stake of voting shares.
According to Front Page Magazine, this Petrobras deal was put in place by the President as a nice way to say thank you to Mr Soros.
Now it’s time for Soros to collect on his investment. The Wall Street Journal recently reported that the Obama administration has committed up to $10 billion to Brazil’s state-owned oil company Petrobras to finance oil exploration off of Brazil’s coast.
Yet Obama historically has opposed expanded oil drilling. This was not only a strategic decision, aimed at pleasing the environmental Left, but also a personal choice, since Obama sincerely believes that drilling is deeply destructive to the natural environment. Thus, as a Senator, Obama voted against permitting the U.S. to drill for oil and natural gas in the Arctic National Wildlife Refuge on the grounds that it would be a crime to despoil such “beautiful real estate.” Similarly, during last year’s presidential campaign, he warned of the “environmental consequences” of oil drilling, and insisted that “we cannot drill our way out of the problem.”
But apparently George Soros can. The president has elected to help another nation with the same type of drilling that he opposes so vehemently for this country, and the reason seems to be Soros’s $811-millon investment in Petrobras. The company just happens to be the largest holding in Soros’s investment fund. Soros’s connection to the company is no secret; he has been investing in Petrobras since 2007. A profitable venture, Petrobras has estimated recoverable reserves for the so-called Tupi oil field of between 5 and 8 billion barrels. With his billion-dollar loan, Obama has taken patronage politics to striking new level.
The Petrobras loan may be a windfall for Soros and Brazil, but it is a bad deal for the US. The administration is prepared to lend up to $10 billion to a foreign company to drill off its coast, when it could bring in $1.7 trillion in government revenue, as well as create thousands of new jobs, by allowing drilling off the coast of the United States.There is that Old Saying, Payback's a bitch. Obama's ten billion dollar gift to Petrobras along with the drilling moratorium designed to give the Brazil-based company partially owned by his good friend George Soros, proves that sometimes payback is not a bitch, its a wallet fatten-er.
....The oil deal stinks for other reasons, as well. For instance, there is the rank hypocrisy of Soros – an enthusiastic proponent of global warming theory and environmental liberalism – investing in the fossil fuels whose use he otherwise condemns – and doing so in part with the aid of taxpayer funds. For years, Soros has urged the adoption of a global carbon tax that would punish companies that contribute to global warming. But that didn’t prevent him from plowing money into Petrobras.
The cozy Soros-Obama alliance goes beyond favorable oil deals. It’s also playing a role in the health care debate. Huge demonstrations dedicated to enacting Obama’s universal health care are largely a Soros-financed operation. When tens of thousands of people rallied in the nation’s capital in support of Obama’s health care plan, the demonstrations were organized by Health Care for America Now! (HCAN), a new national grassroots movement of more than 1,000 organizations in 46 states encompassing 30 million people dedicated to winning health reform now.
The “grassroots” organization appears to be more like a gang of interconnected ultra-liberal pressure groups. Among the 21 members of its steering committee are such Soros-funded groups as ACORN, MoveOn.org, and the Center for American Progress (CAP), headed by Clinton former chief of staff John Podesta, who also has been a key adviser to Obama. Soros’s charity, the Open Society Institute, in 2007 gave CAP $1.75 million and approved added grants of $1.25 million.
Obama’s collusion with Soros and his agenda-driven squadrons is an unfortunate turn from an administration that entered office promising unprecedented transparency in the White House. Soros certainly did his share for Obama. Now, with his backing for a billion-dollar oil loan to a Brazilian company, the president has proven more generous to Soros than to the American voters who put him in office.
Seven secrets of coupon pros [Consumer Reports] "Nancy Niemeyer, an IT project manager from Seattle, says she feeds her family of four for about $10 a week."
5 cheap places to retire in the US [MSN Money] "An expert offers his top picks, taking costs, culture and access to medical care into consideration."
How 5 money blunders ding your credit [Smart Spending] "FICO calls them 'damage points,' and, boy, can they pull down your credit score."
10 Things Funeral Directors Won't Tell You [Smart Money] "The best defense? Shop around, or have someone who is up to it do it for you."
7 Lessons the World Cup Offers on the Stock Market [Wall Street Journal] "Here are seven lessons that 'the beautiful game' can teach you about the money game."
— FREE MONEY FINANCE
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There has never been a better time to pay off your credit card debt. Credit card interest rates are skyrocketing with the impending recession. Recessions mean job loss, and the credit card issuing banks fear upcoming loss of payments. Not only are credit card interest rates getting higher, but in the event you lose your job, you don't want to be stuck with more credit card bills than you need.
Consider that if you have a $2,000 balance, adding nothing new to the card and paying minimum monthly payments of 3% at a 20% interest rate, you're looking at 183 payments, over 15 years, totaling $2,241! Wouldn't that $241 be more useful elsewhere?
According to this article on MSN Money Central:
23.8% of American households have no credit cards at all -- no bank cards, no retail cards, nothing.
Another 31.2% of the households the Fed surveyed paid off their most recent credit card bills in full.
So together, the households that owed nothing on credit cards equaled 55% of the total.
Of the households that did carry a balance, the median amount owed was $1,900.
Only 29% of households owe $1,000 or more on their cards.
21% owe $2,000 or more.
6% owe $8,000 or more.
4% owe $10,500 or more.
1% owe $21,400 or more.
Getting rid of credit card debt takes determination and willpower. It's easy to pay the minimum payments for years on end, but it's not the smartest thing to do.
Here's how to get rid of that lingering credit card debt.
Step 1: Create a budget. It's not as terrible as it sounds. Be prepared to be shocked at how much you spend. Get your credit card and bank statements together and look at how much you're spending, and on what. $5 here and $10 there really adds up. Create a budget with the realization that the money coming in should always exceed the money going out. If the outgoing money is more than the incoming money, you've got serious troubles. Determine a reasonable amount to spend monthly for food, gas, rent/mortgage, utilities, toiletries, rare and cheap entertainment, etc. If you're finding this too difficult on your own, you can always pay or find a charity personal finance manager to help you.
TIP: Eliminate entertainment expenses and frivolous purchases. Did you have to see that movie in the theatre last week? Did you really need that new lampshade? Shopping for nonessentials and going out should be the smallest portion of your budget.
TIP: If you're trying to "keep up with the Jonses", stop. Examine your priorities and determine if you'd rather be able to support yourself financially or buy that latest gadget or decorative item. If the answer is "buy", go ahead and give up the idea of financial freedom.
Step 2: Perform plastic surgery. Not the expensive kind, but the cheap kind. Take a pair of scissors and hack up those cards you really want to be rid of. If you can't bring yourself to do that just yet, hide them somewhere at home so you can't use them at stores for impulse purchases. You may need to have a trusted friend or relative hold on to them for you for accountability, so that if you want to "borrow" them you'd better have a good excuse.
Also, stop using your debit card. Use cash from the ATM instead for things like gas, food and your allotted spending budget. Consumers are much more likely to spend more when it's on "plastic", because psychologically it doesn't pack as big of a punch. Choose between throwing away a $20 bill and a credit card. You'd keep the twenty. You'll get the reality check at the grocery store, when handing over $4 in cash for a 12-pack of individually canned soft drinks versus $1 for a 2-liter of the same product.
Step 3: Make your debt payment plan. Sit down with your credit card statements and figure out how much you have on each credit card and what the interest rate is. Start with the card with the highest rate. From your budget, you can determine how much you have each month to spend on debt repayment. Pay the minimum monthly payment on the other cards and put as much money as you can towards the card with the highest interest rate. When it's completely paid down, take that money and apply it toward the second-highest card, and so on, until all the balances are gone. If you can genuinely make a budget and stick to it, you can determine ahead of time when you'll be debt-free.
If you have a credit card with a small balance that isn't your highest-rate card, go ahead and pay it off first. Then you'll know the exhilaration of not owing money, which will give you incentive for the bigger ones. Just take care not to create a new balance!
TIP: If you're having a hard time paying in big chunks, pay weekly. Your credit card company will accept money any time you want to send it. Instead of paying $100 a month, try $25 a week. That will also save you a little in credit interest costs.
TIP: Live well under your means. Ideally, you should be able to save and invest 1/3 of your income if you want to. Are you able to do this now? Use an online retirement calculator to determine how much you should be saving in order to be able to retire.
Step 4: Open your credit card bills and laugh at the zero balance. Now what are you going to do with all this money? Buy yourself a little prize, (using cash!), and then it's time to save and invest.
Once you've become financially responsible and can really stick to your budget, use your credit cards for budgeted items and pay them back monthly in full. Not using credit cards at all can damper your credit score. However, take care not to run the credit cards up again! You want to be debt free and stay that way.
Here's another helpful tip: Type or write this affirmation on some index cards or pieces of paper and tuck them in your checkbook, pocketbook, or wallet: "I always pay my credit card bills in full and on time!" Seeing that here and there will implant the subliminal message that you do not have to overspend. It's also helpful to write meaningful positive notes such as "I am debt free!" or "I am a wise spender!" and tape them on your credit cards, debit cards and checkbooks. That will earn you some strange looks and smiles from store clerks, but it will be a consistent friendly reminder to yourself that you are free of credit card debt - and you're going to stay that way!
Source:
http://moneycentral.msn.com/content/Banking/creditcardsmarts/P150744.asp
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