Texas Patriot

Collection of news stories, comments/observations on events directly affecting American politics & society.

Archive for Finance

The health care mistake



Letter to the Editor of the Democrat Herald online newspaper.

Posted: Tuesday, March 23, 2010 5:45 pm | (15) Comments

It’s a sad day in America. When we sent folks to Congress, they were elected to represent all of us. Yet they ignored the will of 60 percent of their constituents, in order to “fix” a problem that affects 15 percent of Americans.

There was a much simpler solution than the 2,000-page document they approved, and most of them either didn’t read it or didn’t understand all the details.

Here is my simple solution.

1) Insure the uninsured uninsurable. I’d help pay for that.

2) Clean up the fraud in Medicare/Medicaid, sooner than later.

3) Educate people about their options in health insurance coverage; catastrophic insurance is an affordable option. We don’t need a Cadillac plan that covers every little medical event.

4) Show people why it’s advantageous to eat healthier, exercise, and to stop drinking, smoking and taking illegal drugs.

5) Allow for interstate purchasing of health insurance.

6) Insurance commissioners need to say no to the rate increases. Without their approval, no rate increases will take place. Perhaps the rate increases need to go before a non-government employee board made up of everyday private citizens and business owners.

Instead of taking small steps to improve our health insurance plans, we are being saddled with a plan so full of loopholes, it will probably cost us more than we can ever hope to afford. A plan that could land you in jail if you refuse coverage — great plan. I am looking forward to November.

Jo Rae Perkins, Albany

(Jo is a buddy of mine, and she’s a straight shooter. Her article is here. )

Earthquakes In Fort Worth/Dallas Metroplex

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We had an earthquake today in Cow Town (Fort Worth). It was centered around Euless but felt as far West as Fort Worth. And there was an aftershock as well. Witnesses said it scared the heck out of them.

It was mild, a 3.3 on the Richter scale. But when you’re talking about a loud sonic BOOM! followed by the furniture shaking about—it follows that should unnerve a person pretty quick.

We also had one recently this past October. The Metroplex is not an earthquake area.

The largest earthquake in Texas’ history was near Valentine in 1931 (Valentine is SE of El Paso). That one destroyed most of the brick buildings but left the wood frame houses intact.

When I went looking for info on Texas earthquakes  I found conflicting info on the Valentine quake. One report states that quake had a richter reading of 5.80, another said it was a 6.0. And that there was another strong one registering 5.8 which occurred much later in 1995 (also occurring in West Texas) and was felt all the way in Austin. (This from the Institute for Geophysics at UT at Austin.

Looking over the excellent records kept by the Institute For Geophysics, I was very surprised to find that Texas has experienced MANY earthquakes over the years, though mild, causing little damage and not taking any lives (except for the bizarre incident where a Mexican man who’s adobe hut collapsed in on him across the Border).

Here’s the number of recorded earthquakes that UT at Austin gives by area of the state that registered at a 3.0 or greater:

West Texas—53

Panhandle—30

North East Texas—28

South Central Texas—20

Note that there have not been any (stress NOT any) recorded quakes in the Dallas/Fort Worth metro area until this past October 30th 2008. It was registered at 3.0 on the Richter. Today’s (May 16th 2009) clocked in at 3.3 and was in the same area as the one from this past October: Euless, Bedford, Irving, Fort worth, and Dallas.

When I told my mother about our latest earthquake, she asked me if all the drilling they’re doing around here for oil and gas could’ve caused it. THAT is a very good question. And it’s been asked before according to the UT at Austin FAQ article.

Q: Does drilling for oil and gas cause or trigger earthquakes?

A: Research carried out by UTIG scientists suggests that earthquakes in some parts of Texas may be induced by the pumping of fluids at oil and gas fields, or by the injection of fluids to dispose of chemical wastes. The earthquakes in the Fashing-Pleasanton area southeast of San Antonio are almost certainly caused by or triggered by pumping; such earthquakes also seem to occur in the Texas Panhandle near Snyder, Texas.

We know that over pumping of water from an underground well can cause the ground to collapse inward in an area because the filler is gone.

There is a lot of drilling activity going on around Fort Worth since the Barnett Shale was discovered and rights granted to oil companies to offer land holders proceeds from the production, if they’d allow drilling. But there’s a whole lot more to come. They’ve just been getting geared over the past couple years.

The landman (landsman) I spoke to said the shelf sits on a humongous area stretching roughly 5,000 sq mi (or more) and covering at least 17 counties. He added that the sweet spot is downtown Fort Worth.

One article suggests that it may be the largest onshore natural gas reserve in the entire USA.

So, if the Barnett Shale does turn out to be the biggest deposit yet found in these United States, what will be the outcome of extensive drilling? Could drilling be the reason that an area that has never had an earthquake in recorded history, suddenly has two (3.0, 3.3) within 7 months of each other?

We’ll find out as time goes by, and it all plays out.

Resources

Earthquake Seismology; Institute For Geophysics, University Of Texas At Austin: http://www.ig.utexas.edu/research/projects/eq/compendium/earthquakes_contents.htm

Earthquake FAQ, Texas Earthquakes; Institute For Geophysics, University Of Texas At Austin: http://www.ig.utexas.edu/research/projects/eq/faq/tx.htm

Historic Earthquakes; Earthquakes Hazards Program, USGS (United States Geological Survey: http://earthquake.usgs.gov/regional/states/?region=Texas

Texan Earthquake Information; Earthquake Hazards Program, USGS: http://earthquake.usgs.gov/regional/states/events/1931_08_16.php

Minor Earthquake Rattles North Texas; DFW News: http://www.nbcdfw.com/news/local/Minor-Earthquake-Rattles-North-Texas.html

Barnett Shale; Wikipedia:  http://en.wikipedia.org/wiki/Barnett_Shale

Texas Earthquake Information; USGS: http://earthquake.usgs.gov/regional/states/?region=Texas

Several Small Earthquakes Rattle Texas, Oklahoma; FOX News:  (October 31, 2008: http://www.foxnews.com/story/0,2933,445568,00.html

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Washington Prepares Us For YET ANOTHER Bailout Donation

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In a story released earlier this afternoon, by our local affiliate here in Fort Worth, we receive the news (care of Rahm Emanuel) that we will have to donate yet again to the failing bank situation.

This, of course, is because the ginormous amount of funds we’ve already given them–TWICE–was not nearly enough to keep the executives in the lifestyles that they’ve come to expect. So, we must, yet again, donate to institutions that will probably be liquidating soon anyway. What is that old term . .  . ‘throwing good money after bad . . . ‘?

Yeah, so Mr. Emanuel is preparing us for another huge stimulus for the banks. I don’t understand why CNN can’t fund the bailout–since they’re so pro-tax-the-people-blind.

OH, Emanuel did make a point to SOFTEN the blow and sell the idea of the bailout addendum by promising that they will NOT nationalize the banks after all. (ALERT: Ocean front property for sale in New Mexico, Arizona, and Arkansas–CHEAP at only $3 trillion per day–I mean acre.)

Please do not miss this little gem of a story, because it will probably be played down by the main stream media. I hope that at least Fox will be on it and get this news out to the people. There are still MANY out there that really have no idea about what is going on in our world. The truth is EVERYwhere, if you want to accept it. But that’s up to you.

National Tax Day Tea Party–Revolution Begins

Make no mistake, Americans are getting sick and tired of the games that Washington law makers are playing with our monies.

People of all ages, all races, all walks of life are uniting for the overall good: to send a clear and distinct message to our administration in Washington (and in political seats all across the country,  local and state) that EVERY lawmaker can be replaced. He/she can be retired, and a better man/woman that actually loves this country can take their place.

We need to throw out all the politicians and replace them with TRUE STATESMEN. Understand that there is a world of difference between a ‘politician’, and a ‘statesman’. Learn the difference. Ronald Reagan was a statesman, the head of our current administration is a motivational speaker full of empty promises and hot air.

On Greta Wire, she has a pole asking if this HUGE event that took place all across our nation today was a one time event, or the beginning of a serious movement.

When I took the poll there had been 28794 votes taken at that point. 26437 (or 99%–yes, NINETY-NINE PERCENT) all voted YES, that this is the Beginning of a movement. Only 357 (or 1%) voted No.

World Net Daily ran the story, “Taxpayers descend upon politicians in numbers far beyond expectations

Ning Results for Tax Day Tea Parties across the nation are here.

Pajama TV is running an article instructing individuals on starting their own tea party protests.

And Glenn Beck’s site announced the governor of Texas announcing that we can indeed secede, it’s completely doable, and at this point fiscally responsible to the tax payers of this great state. (But that’s another story entirely, which I’ll have to add later. I’ve already written two articles on that subject in this blog site at an earlier date.) My point is, people are fed up and ready for REAL change. not ‘chains’.

There is some totally awesome video footage taken from the Tax Day Tea Parties from around the nation. They really stir the patriotism. And if you haven’t heard Lloyd Marcus’ Tea Party Song, then you’re missing out! 🙂

I’ll include some videos here for your viewing pleasure: 🙂

Pictures from the Fort Worth National Tax Day Tea Party Event at La Grave Field:

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Omni National Bank Falls

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Out of Atlanta, founded in 2000, total assets $980 mil just a few months ago.

The Dallas branch of Omni Nat’l was taken over this past Friday and it’s assets seized by the Federal Deposit Insurance Corp. The bank had been in Dallas almost 2 years.

This bank had a branch in Houston a year ago with $217, 000 in deposits.

Quote from the Dallas Business Journal:

“FDIC filings show Omni had $573 million in total loans at the end of 2008 but had a high percentage of nonperforming assets. Nearly $200 million in nonperforming loans were on the books at that time.”

(Not to be confused with the Omni Federal Credit Union)