Greetings and salutations from the sand, sun and surf of Cape Cod, Martha’s Vineyard and Nantucket! Just returning from a spin around Osterville–down from my home on Oak Ridge, left on Main Street, right on East Bay, where I sat near my little sail boat, “Ti amo”, who is moored there, watching my Osprey sitting atop my mast, then taking the curves around the entrance to Dowses Beach and up to Parker Ave, where, taking a right, I find myself sitting for a moment at the Wianno Golf club. No one in the parking lot, so I just thought of the British Open for a moment and then arrived back home without seeing more than two people–but plenty of wildlife! Not bad for an hour of “me” time… I thought I would turn away from the Gulf for a moment, with the situation always in my heart, and tackle the issue that is facing so many hurting Americans these days–the economy. Gary Rivlin, author of the book, “Broke America”, speaks to this gathering industry of “pay day lenders”, pawn brokers and anyone else who takes advantage of the downtrodden for economic gain–a 7 billion dollar a year industry and growing… More “pay day loan” centers exist in the United States now than all of the McDonald’s and Burger Kings combined, and why not? McDonald’s does not make 400 percent interest on your purchase of a quarter-pounder, but you may contract heart disease from eating it on a regular basis. For example, you have someone who is looking to simply make “ends meet” and is desperate, so, he/she turns to one of these payday loan centers for a loan that will get them through to the next pay period. They take out a 500 dollar loan, but attached to that loan is over 2000 dollars in fees and penalties (in fine print) that are, more often than not, difficult for the typical patron of one of these sleazy establishments to comprehend this “fine print” that is offered while they literally sign their life away… Many times this turns into an APR of between 400-600 percent interest– to the very people who can least afford it. This practice is the polar opposite of what is happening on Wall Street, where the investment banks borrow that same MONEY from places like the FED and pay it back in interest rates that are less than 3 percent. By borrowing money, they actually made money, in the past financial crisis. This microcosm of the greater macrocosm defines the problem that exists within the boarders of this great country of ours. A growing and insurmountable gap between the have’s and the have nots. Now, the p.o.h.n. would have you believe that “they” are the one’s for fiscal responsibility when, in fact, they blocked bills that were meant to protect the most innocent and vulnerable of our citizens from predatory lending, just like the predatory lending that transpired with the housing bubble. Who made money from that debacle? Goldman Sachs and it’s investment banking brethren. So, when Obama said this upcoming election is about choice, he meant exactly that. If you want the “Mr. Potter’s of the world” running the show, charging the poor 600 percent interest on their mac and cheese, by all means vote republican. But, if you want to see this country embrace it’s true nature and form at it’s birth, “that all men are created equal”, then consider the alternative to hate, violence, greed, corruption, anger, and FEAR. All part of what defines the “party of hell no”, or p.o.h.n., or pawn, for that is what they truly are, pawns for big business and the kickbacks they receive are reflected in their mean spirited words when describing the electorate who have no jobs because that same party shipped those overseas to make a buck for themselves… GOD’S SPEED to the GULF, all of the people, SEA TURTLES, DOLPHINS, WHALES, BROWN PELICANS and marsh lands therein…may that miracle happen today! Have a nice day folks! Peace~M
July 21, 2010
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