The worst element of his plan is his call to "open new markets." I suppose that has an appeal to the uninformed. It sounds like a plan to increase exports. That would be fine if that's how it worked. What was unsaid is that the only way to open new markets is open our market further as well. This is exactly the blind trade approach that has resulted in a cumulative trade deficit of $9 trillion since 1975, growing at an annual rate of three quarters of a trillion dollars. It's an expansion of the policy of trading away our healthy market while getting access to stunted markets in return, if we get access at all. It has often been said that doing more of the same while expecting different results is the very definition of insanity.

And, as if to underscore his lack of even a basic understanding of our trade picture, while promising to "drill, drill, drill," he repeated once again the erroneous claim that arose from the T. Boone Pickens TV ad. "$700 billion per year is sent overseas to people who don't like us very much," implying that that's how much we spend on foreign oil in the Middle East and other places like Venezuela. I thought my head would explode when I heard that lie proclaimed once again, but this time so forcefully in front of a national audience. Perhaps if Joe Lieberman were standing next to him, he could have whispered in his ear and corrected him. "Psssst. John! That's not right. $700 billion is our total trade deficit. Only about a third of that is spent on foreign oil, and only a fraction of that goes to the Middle East." (For the benefit of those unaware, the T. Boone Pickens ad never claimed that we spend $700 billion per year on foreign oil. Pickens said that "We send $700 billion per year to foreign countries." By plopping our trade deficit figure into an ad for breaking our dependence on foreign oil, he bolstered his case without technically making an exaggeration. Watch the ad again. You'll see that I'm right.)

As I've said before, this calls into question whether McCain lacks the intellectual curiosity that one needs to make informed decisions. The man has admitted to being computer-illiterate. He doesn't even use E-mail. Shouldn't anyone being considered for president show at least enough curiosity about what has become a critical element of our economy to be able to handle the basics, like E-mail? If he had, in about five minutes he could have Googled "trade deficit," gone straight to the U.S. Census Bureau site (the agency that tracks trade data), and learned the basics about our trade deficit. He would then have known that we only spend about $250-300 billion on foreign oil, and that Canada is our biggest foreign supplier.

But I've digressed. So what is McCain's plan for dealing with job losses? Retraining. I wanted to scream loud enough for him to hear all the way in Minneapolis, "retrain to do what? Where are these mythical jobs that are going unfilled because we're all too uneducated to perform them?" He never answers that. It seems that the plan is to successively move our excess labor supply from the segment of the economy where it's the worst to other segments, one after the other, destroying the wage structure in each as we go. By creating the illusion of progress in one area, maybe we won't notice the deterioration in another. That seems to be the plan. Also, by proposing that the federal government make up a person's shortfall in wages in their new job vs. the job they just lost, at least during the "retraining" process, he seemed to making a tacit admission that wages will, in general, continue to decline under his plan.

But no, there will be new jobs, he says, in the mythical new "green economy," not to be confused with the "new economy" of the '90s, based on the internet, that was going to be our job salvation. This one will be based on building new, renewable energy sources. Somehow politicians have been sold the idea that the equipment used to generate renewable energy can only be made domestically. Wasn't that the same promise of "high tech?" Weren't we promised that computers and cell phones would be made in America, while the rest of the world would make the simple, boring things like cars and appliances? And, even if true, wouldn't the gain in jobs in making renewable energy sources be offset by a loss of jobs in the old energy technology? How does this gain us anything?

At this point, McCain took a swipe at Obama's plan. "While I'm creating these new jobs, my opponent's plan is to bring back those old jobs." "Those old jobs." He rolled out the words with a Bush-esque smirk on his face. Anyone who works in manufacturing should have been insulted by this statement. This demonstrates how little regard he has for the people who have surrendered their jobs to the Global Trade Welfare State (globalization) that was established by our goofball trade policies.

Finally, I was horrified at his proposal to double the tax deduction for children. If you want to lower taxes, why not reduce the base rate so that everyone can benefit? It's clear that pro-population growth economists, interested in stimulating another baby boom, had a hand in crafting this proposal.

I like John McCain.  He's a true American hero.  There's no doubt about the depth of his love for his country.  There's no doubt that he believes fervently in his plan.  But, unfortunately, his plan represents more of the same - more population growth, bigger trade deficits and more deficit spending to offset the negative effects. This isn't change. It's an intensification of the policies that have ravaged our economy for decades. It's the old "if it isn't working, do it harder" approach.  McCain's plan is a recipe for disaster.

This site however is different.  My primary goals are not to teach you.  What I plan to accomplish is to show you what it is like to trade Forex.  Forex trading looks easy, and many sites say that it is easy.  What I have found, is that Forex is extremely complex.  Forex systems are interesting and a lot of them work.  Just because the system works for one person, does not mean it will work for you.  I started trading about 3 months ago and have lost a little over $500.  There have been many profitable days.  There have also been many unprofitable days. 

The plan for this blog is as follows.  As I continue to learn forex trading, I will post major gains or losses here.  All of the information on the trades will be available here as well.  The reasons behind the trade will also be posted here.  My account total will be updated in each blog entry, including the percentage gained or lost. 

My goal as a trader is to learn the market.  Hopefully, I will become a professional forex trader eventually.    My hopes are that we all will learn from this experiment and that it will make us better traders overall. 

There will also be another one of my blogs linked to for reviews of certain products or brokers I have used.  As I grow my account, I intend to purchase forex products for the sole purpose of reviewing them and sorting out the good from the bad.  

Thank you for visitng,

rgrace

Dear Sarah,

I know it has been a crazy time. You know with the Vogue cover and the speeches and all. I really hope you enjoyed your Oscar Convention speech the other day. It was perspiring. I don't think I have ever felt so disconnected from anyone before. I am so sad that you had your chance to tell us a bit about yourself. You uttered so many words, and of course you didn't say much. But I can understand why. You are the inspiration behind the "No Child Left" plan. Just a shame it obviously didn't work. For you or the actual policy. But your speech was something else. Really something else. A bit like Rush Limbaugh on steroids. Now there is a picture... All hatred and lies included in the words you spewed. But you will have to grow up fast if you want to become a serious politician instead of a PTA joke. And just to show how much I care... Here are 10 practical tips for you to consider as you move from being a small fish in a small pond to a small fish in a big pond. Or in beauty pageant terms... from a body to a nobody.

1. If your old enough to fall pregnant then you are old enough to be spoken about in public.

I am so terribly sorry that your daughter fell pregnant. Really I am. It might not have happened if she had sex education at school. Like many Americans where both parents have to work, you can obviously not do the task of raising your children at home 24/7 yourself. You just can't give them the attention they so desperately need. Not with both parents having to work in the modern American economy. And nothing wrong with that. Thank God we are over the "woman in the kitchen age". So you need a good support system to help you in this role that either parent would have played in the "good old days" that you so admire. Oops. Sorry. You don't support sex education at school. And guess what happened? Your own warped view on "family values" came to bite you in the ass. So sorry if I don't keep my mouth shut on your pregnant daughter. You asked for it when you made stupid policy decisions. Live with it or get out of the kitchen. You are partly to blame for Bristol falling pregnant and for that you should be held accountable. Especially if your approach could lead to so many other teenagers falling pregnant. That is unacceptable and you should take ownership of that especially if you don't want to give them any other government support. Sorry Sarah, we just can't give you a free pass on this one. Not with so many lives and futures depending on you being stopped or not. No free pass. Bristol is pregnant. Live with it and all the consequences that comes with that.

2. You don't get a free ride if you are a woman.

So I see that you are a woman. I am really happy for you. And it is about time that we have a woman running for VP again. It's been a while. But here is the thing. You get no special treatment just because you are a woman. Don't expect me or anyone to back down because you are a woman. And don't ask that old man to stand up for "the little woman" either. I expect you to be a leader. And I'll give you as much hell as possible to test whether you have it in you. Just ask Hillary. She passed that test. She didn't hide behind anyone. She didn't shy away from answering tough media questions. She took them on and gave them a good spanking. I am doing you a favor here. You think I am tough? Wait until you have to deal with Osama bin Laden or Putin. Now those guys have real women issues. It's a tough world out there and you either sink or swim. How long can you tread water?

3. Running a $22 million debt as mayor doesn't make you an executive with experience.

So I hear you have so much executive experience. Even more than old man McCane. Good on you. I mean really, the last guy we had with executive experience similar to yours was... hum... G.W. Bush. He was a Governor for the United States of Texas and ran the Texas Ranger. Into the ground. Both of them. And the US of A. Okay, let's try that again. You claim you have executive experience. You ran a town of 9,000 people. Wow. Impressive. So what did you do while you were there? Take a small town with no debt to $22 million in debt. That's about $2,500 for each person (kids and moms included). Excellent. Very American. Hell, you brought the average debt in line with the average credit card debt per household in the US. I guess your views on debt is the same as that other great executive G.W. Bush - you both like getting a budget that balances and turning it around into a debt no one can pay. Maybe he should introduce you to his "hero" Ken Lay? I can't wait to see how much you can screw this economy up. But I won't put that past you. You did a proper job of stuffing up little Wasilla into Who-The-Hell-Is-Her. Let's see how much further you can drag the US economy down. Just make sure you switch off the lights when you are done and the US is done.

4. Having a gun doesn't make you strong.

So you like guns. I saw the pictures. I heard you talk. You think it makes you strong hey? Macho even. Butch maybe. It doesn't. Cowards hide behind guns. Just ask that guy who shot his family. Or the kid who shot the school. Or the criminal who sells his drugs from the barrel of his gun. Guns don't make you strong. Saying "no" makes you strong. Life isn't a movie where the good guy shoots up the whole of New York and no one notices. You know that John McClane is a fictional character in Die Hard right? Well, John McCain's policies on gun control is just as violent and just as littered with fictional characters and lies as John McClane. So take that gun of yours and stick it where the sun don't shine. Having a gun doesn't make the terrorist go away. And it doesn't solve the problems in Iraq or Afghanistan. Looking tough doesn't make you tough. Rather give the troops what they need over there. Don't point it in my direction because you are a coward for hiding behind a gun and pandering to the extremists.

5. Less Hollywood, more substance please.

Heard you made an awesome speech at the convention the other day. They told me that it was even better than Vanessa Redgrave's Oscar speech in 1978. And filled with as much hatred. But it reminded me more of James Cameron in 1997. "Top of the world!" You really wanted to shout that didn't you? Or cry like Gwenyth Paltrow in 1998? Come on, be honest. But you really do fit in nicely with the bunch of Hollywood actors. No, I don't mean your looks. I honestly don't think you are hot. Maybe if you look past the hatred and ugliness inside. I can't. But I mean that you are just like the Hollywood actors. You like to stand on the stage and make a big speech and tell lies because you are just "in character". And then you don't want to talk to the media about the real substance of your convictions. Sorry. You are a politician and will have to answer their questions (and those of the American public) at some stage. It's called leadership. I know you don't have any. But you can act if you want. I mean really. Reagan had no leadership qualities and was actually a horrid man with his wars, but he managed to convince loads of people that he was a leader. He knew that all he had to do was act. Smile and wave baby. I am sure you can pull that one off. See it as being interviewed by the judges. Or didn't they teach you that at the beauty pageants? Don't worry. The press here will lob you the same weak questions that the judges did. Grow up and answer. Or shut up and leave.

6. You don't have a personal Patriot Act.

No matter what McLame told you, this isn't your personal Patriot Act baby. You can't just pull a plug on freedom of speech and think you can get away with it. You can't control everything. You might be able to do that in Alaska by firing people for not dancing to your personal song of vendetta. You remember trying to influence Commissioner Monegan to fire your ex brother-in-law and when he refused you fired him? That might be okay in Alaska. But not here on the mainland of the US of A. Over here they actually have rules to limit power abuse. I know, Bush and cronies have gotten away with lies and clamped down on the freedoms the Founding Fathers fought for. But people are starting to wake up to that now. They know that things like the Patriot Act and Guantanamo Bay is bullsh*t. And anti-American. So when you force poor old Levi Johnson to pull off his MySpace page with the video of him saying he doesn't want to get married... We find out baby. We find out. You can force your minions to do as you say. You can even "whisper" in the ear of Google and WordPress to put ban or put pressure on those writing about you. But you can't shut the truth out forever. Just ask Bush. Weapons of Mass Destruction. He didn't have any. We do. It's called freedom of speech and a blog. This isn't your personal playground. This is America and you will play by the rules or suffer the consequences. You attack with weapons. We have the edge. Information and knowledge. And we always win. Always.

7. Just because you believe in Jesus doesn't mean He believes in you.

I see you are playing the "Jesus" card. Let's play. I heard you are very religious. Apparently. New born and reborn are we? I am truly happy for you. Not. Because you missed a fundamental principle of your religion. "Thou shalt love thy neighbor as thyself". And a few basics. Don't lie. Don't spread false rumors. Don't kill or murder. Don't want. Many don't that you don't do. Especially the "love" bits. You suck big time on that. So much hatred and lies coming from you. So un-Christian. So here is the little snag. Your version of Christianity is wrong. It is a sect and not a religion. True Christians will follow the Bible and its intentions. You don't. You might believe in your version of Jesus. But sorry, He doesn't believe in your version of yourself. Don't worry, He loves you like He loves everyone (no matter what you think). He just doesn't believe in you. Or in your version of Him.

8. A pantsuit doesn't make you a woman.

Look, Hillary knew how to pull off the pantsuit. But you don't. Her "Sisterhood of the Travelling Pantsuit" stood for something. Women taking on politics in such a way to make them proud and make them strong. Defining politics. No. Redefining politics. That's our Hillary. She'll outsmart you into the middle of next week baby. Or, in your case, into the present to let you catch up. Women. You shouldn't believe everything your conservative right-wing nutcase Republican male "friends" tell you. Women are strong. Just look at Hillary. And women aren't stupid. They vote for their future. Our future. They don't vote for a woman for the sake of voting for a woman. Don't treat them as if they are stupid. Don't think that you can replace Hillary in their eyes. You aren't good enough to clean her shoes, lady. And they know it. They see through you quicker than you can say "drill for oil". 'Snap'. Uh-uh sista! You're so outa here!

9. From Palin to Pale-One

I just love your surname. Palin. So apt. So easy. You really should pronounce it Pale-One. Why? Because you are just a guy in the body and clothes of a  woman. We call it cross-dressing. You call it cute. I say cute like in Larry Craig. But really. You want to come across as a strong woman in politics? Get a set of political positions, principles and policies (the 3 P's of politics) that reflects substance. Not the airhead crap you come up with. Hate and lies don't not make a policy baby. Hell, you even make blond jokes sound like hard hitting facts. And don't surround yourself with pale males if you want to come across as a woman and different. Really, I haven't seen that many pale males in a room since the last Nascar rally. But at least Nascar had something to look at. Cool cars and loads of beer. All you had was drool tsars and loads of fear. Really. Drop the pale males. They make you look bland. And they are using you. Haven't you noticed? But then, I guess you'll do anything to get to the top right? Just don't expect us to wait for you.

10. A bit foreign to foreign policy are we?

Alaska is a closer to Russia than any other state. Wow. You really should have told Cindy to shut up on that one. I take your silence as an agreement with Cindy "Let-Them-Eat-Cake" McCain. I guess you know all about Georgia then. I know you have been to Atlanta. I mean really. You are so well travelled. Why, you got your first passport in 2006... Sorry Governor Pale-One, you don't know jacksh*t about foreign policy. Nada. Nothing. Zero. Zilch. As I mentioned before, Putin is going to have you for breakfast. I hear that he loves having barracuda sandwiches first thing in the morning. Bears eat fish you know. Alaska closest to Russia. I called it grasping at straws. I guess you are also an expert in the Space Race and Star Wars? Mount McKinley is in highest mountain peak in North America... making you the closest US point to space. NASA should get worried by right now. Sorry Sarah Pale-One, you are more spaced-out than anything else. Foreign policy experience? Hell, you don't even have domestic policy experience. It's Alaska. It has less people than Moose. And less people than Boston. Hell, you don't even play baseball. And no, throwing a snowball is not the same. Sorry Pale-One. You are foreign to foreign policy. I can see the world leaders licking their lips and wringing their hands right now. And having a chuckle on the side. You make Robert Mugabe look all worldly and travelled.

I hope you found these tips helpful. Not. You never know, you might actually become a bit-part player in politics one day when you grow up. But only if you work really hard. Hey, you have nowhere to go but up baby! I know it is a steep hill to climb but hang in there. Let's make it interesting. Let's see who will win a race against time between you and England. Let's see if you can amount to something real and meaningful before they can colonize the world again. No wait. I'll make it easier for you. Let's see if you can make sense before they win the Superbowl. Yeah, I know, they don't play in the Superbowl. But then, you don't make political sense either. The race is on...

Unkind regards, never yours and no love,

Angry African (on the Loose)

Russian stocks plunged and the cost to protect government bonds from default jumped to the highest in four years after the central bank shored up the ruble. Bank Rossii said today it intervened, buying rubles from its foreign currency reserves, after withdrawals by investors sent the currency to its lowest level in almost a year. Russia's RTS Index dropped 3.8 percent today, capping its worst week since May 2006, and credit-default swaps on the government's debt rose 14 basis points to 166, the highest since November 2004.

In light of all the "USA" chest-thumping going on in St. Paul for the last four days from The War Party, I thought it would be instructive to put up this matrix, once more, from the Global Business Network. Our future prosperity will be determined by two factors--our economic and cultural strength and our ability to adapt to a bottom-up, networked world. The same applies for the Russians and the Chinese.

Abe Thompson, if you will recall, scored that injury time goal against KC down in Dallas earlier this year.    Abe is in his 4th year.  He's played in 69 games and started about half of those.  He has 14 goals, along with 11 assists, in that time.  Abe has three goals this year.   His best season was 2007.

I think this move is a lot like the Gomez move.  It is there to inject some life into the team.  Not that Thompson is going to tear it up here, but the strike force of KC needs a kick in the ass.  And if this generates better competition then that's good.

OG

As societies grew and the economy expanded, humans also changed the way they divided their roles in the workplace. This is because they wanted to find the most efficient way of producing goods at the lowest cost. This gave way to “The Division of labour”, whereby in a single product, many people partake the roles in producing the good.  Economists like Adam Smith and Weber agreed that the Division of Labour was particularly effective and efficient; it would lead to tremendous economic growth.

Economic growth to society is of course beneficial. But do individuals actually gain from the Division of Labour? Emile Durkheim says that with Division of people, a ‘bond’ is created between these individuals because they have an ultimate aim, which is to create a finished product. These individuals need to work as a team and do their job well and efficiently in order to finish the product. In that sense, they somehow ‘rely’ on each other. However, as Karl Marx explains, the Division of Labour exploits workers. The individuals who have individual roles now have only one skill. This specialization is somehow dangerous because if the individual falls sick, or something happens to him, no one else can take over his role as well as he can. To the economy, specialization is good because you can do your part efficiently and finish the job fast. But as an individual, mastering only one skill is dangerous because your opportunities (for other jobs) are limited. Furthermore, we know that if a person is known to be working in a production line, it is usually because these people have either little education or are not well-educated. They are bound to be controlled by the higher status capitalists who are aiming for profit and the problem of class in equalities are likely to rise.

Trade gives the society more variety of goods to choose from. Over the years, trade has increased alongside with consumption. Now not only do we have our local products, goods from overseas are also available in stores. The range is so wide that we have a hard time choosing which is better to get. We also notice the price difference. Products from China are generally cheaper than products from London or America. This is the new Division of Labour, where companies now outsource to countries where labour is cheaper and abundant, like China. This might be also due to the standard of living (SOL) in different countries. In America, where the SOL is high, individuals also demand higher wages to meet with the higher SOL. In China, where SOL is low, wages in the production can be as low as less than a dollar per hour[1] compared to US $7 an hour. This might seem like exploitation to us, but to China it is the norm because things there are not as expensive as US[2] (although the inflation now might change things).

Competitiveness seems to be the key word here. What makes a company successful is by the profit it earns. It is what gives power and authority to the company in the economy. While every capitalist aims for it, they also forget about environmental and social issues. While minimum wage and regulations can be imposed, they act as disincentives for these companies to work. Work doesn’t seem to be ‘working for the economy and society’ anymore, but for the self-interest of earning profits and money. Money is indeed the root of all evil.

Sell 0.10 GBPUSD at 1.77940
StopLoss: 1.78240
TakeProfit: 1.77440
Status: Closed at 1.77440 (50 pips / $50.00)

#Trade 5

Sell 0.10 EURUSD at 1.44518
StopLoss: 1.44818
TakeProfit: 1.44018
Status: Closed at 1.44018 (50 pips / $50.00)

Profit/Loss: 77.72
Balance: $1077.72