Herb Kay's S.O.S. System
  June 15, 2010
  "I'm Herb Kay and the most important thing to know about me is that I'm not going to lie to you or pull your chain. Ever. In my S.O.S. Guides, I give you, well, guidance, in a straight-talking and step-by-step way. The website offers the "advice side" of my system. Here, in my blog, I'm going to dig a little deeper and get a little grittier. That's the opinion side of my system. Will I say something that might shock you? Maybe. Will I ruffle some feathers? Perhaps. Will you close the page with some food for thought? Absolutely."

The Herb Kay Way is the straight forward, never-mince-words way. Check out Herb's latest blog on your money, your career, your debt, the economy and the world we live in.
 
When Downsizing is a Powerful Tool
Can We Address the Important Issues?
Just a Sentence or Two.....
A Dose of Reality
Getting Involved and Taking a Stand
Study Up on Your Loans
Drop Back Ten and Punt!
Who Can you Depend On?
Some Sobering News About the Economy
Grab a Beer and Take the Slide Home......
Another Loophole, Another Lesson
What is Your Core Conversation?
Loyalty and Leadership
The Argument for Being a Grownup
The 'Business' of Complaints
Electricity in the Air......
Taking a Hard Look at the Figures
A Public Life
My "Advice" to You
Perspective vs. History
Worried Sick!
It's About the Kids!
Gooooooooaaaallll?
Where Will the Money Come From?
Immigration Arguments: Debunked!
Blame Policy, Not Banks
Happy Birthday America!
Crony Capitalism
G8/20 and What That Means For You!
Our Economy and the Free Market
Building a Bubble?
"Fixing" Our Problems
The $20 Billion SNAFU
A Screaming Deal!
Action Breeds Success!
It's Going to Take Some Effort!
Getting Our Lives Back
For Better or Worse......... I Prefer Better
The Pressure to be President.......
This Great Nation......
Financial Reform - Ha...what a joke!
Municipal Bonds are a thing of the Past!
Feeling Good!
Moving Forward
The Signs Are All Around Us
It's a Grim Diagnosis
Oh, the Pressure.....
The Big Fat Greek Fallout
It's Getting Ugly......
Perfection is a Myth
Be Different
Moving on While Moving Ahead
An Immigration Abomination
I've Got a Question.......
Logic vs. The Logistics of Inflation
The Free Market - Greed at its Very Best
Informed on Inflation
Don't Fix What Isn't Broken
Harnessing Energy - The Herb Kay Way
Staying Ahead of the Curve
What Trade Deficit?
Greek to Me
There's a Bridge in Brooklyn......
Problems That Don't Exist
Don't Invest in Mediocrity
The Fed's Mutually Exclusive Roles
Deadly Serious
Election Year Scapegoats
"Willfully Insane"
Balancing your Beliefs - How Our Political Convictions Influence the Debate Over the Economy
Let's Reward the Renters
Don't Plug the Hole.......Replace the Bucket!
Europe's Safety Net
The Collapse of the System
Apple Makes a Lemon
Pot, Capitalism & The Free Market
Who is Your Banker?
Real Estate? Now is NOT the Time!
Grading on a Curve
When the Inflation Stars Align
When Foolishness Goes International....
The Recovery?
The Competitive Advantage of Reaganomics
What Wednesday Brings.....
Stopping The Addiction
Signing On The Dotted Line
Be Optimistic - Not Foolish
The Real Story
Selling Your House (and your credit) Short!
The Entitlement State
It's Anyone's Guess
Ask, And You Just Might Receive
Crazy Like A Fox!
It's Only Tuesday!
Spending Some Time - Cutting Spending
There's No Such Thing As Easy Money!
What Exactly is Responsible Borrowing?
Just Bite The Bullet
With Change Comes Turmoil
Q & A......The Herb Kay Way!
Wanna Bet? Gamble on Inflation!
A Lesson on Education
Two Different Beasts: Why Price Does Not Equal Wealth
For this Party - Three's a Crowd
Good Luck With All of That!
Dear Mr. Bank President:
It's Not That Simple
Raising the Stakes
State of The Union: The Herb Kay Way!
Capital Gains - Your Pains!
Cooking the Books
What's in a Name?
Questionable Choices: Healthcare Reform
And the Person of the Year Is......
A History Lesson
Goverment's Stimulus Fairytale
Let's Hope I'm Wrong
Fake Money = Real Problems
Collectors Lie
35 Million Americans Can't Be Wrong
Simple Truths, Simple Lies
Lending and The Federal Reserve: Why Making Banks Rich Again Will be Bad for the Economy
Are You Health Care Aware?
Have Good Credit? With New Legislation in the Works, the Question is, Who Cares?
Healthcare and the President
Tips for Choosing a Bank and the Right Bank Account
 
The $20 Billion SNAFU
 

The President of the United States is supposed to be a leader and hopefully a wise one.  One of the classic roots of wisdom is experience. As the current holder of the office, we elected a man who, regardless of his gifts as a communicator, had absolutely no executive experience whatsoever. He is a political being and has never started a company or ran one.  In fact, in numerous utterances and even in his own book he has said that he views the private sector as "the other side".  This is a man for whom government is the preferred choice to fix and run things.

The problem is that for a person of experience and wisdom, this point of view is just plain silly.  The shortest list in the world, is that of efficient government programs.  Government efficiency is an oxymoron, yet politicians of both parties and especially this president, have said over and over again that they want to make government more efficient as opposed to just stopping its huge over-reach in trying to run everything.  Only a sucker would continue to fall for this line and there must be a lot of suckers in our country.  Hoping for the government to do anything right is a triumph of hope over reason.

That brings me to the Gulf Spill.  BP is working night and day, spending billions of dollars to cap this thing and clean up the mess.  Already in place are 600 employees who are sorting through now 42,000 claims of folks hurt by the disaster economically.  They have processed, to date,  20,000 of these claims and are going through the rest at record pace.  BP has already said that it is ignoring the $75 million cap set by Congress back in 1990 as the cap on damage claims, and they have a strong incentive to get the settlements right with claimants, as they will sue the pants off BP if they feel wronged.  Heck, it is a feeding frenzy already – as now lawyers move to file suits on behalf of those who want even more. 

So, why are Congress and the president saying they want to form some sort of fund with $20 billion of BP's money to compensate those hurt when the company is doing a good job already? Politics!  They want to be able to show that they are doing something.  The thing is what they want to do is illegal, government has no right to demand money from private industry, BP is the  most important company of our closest ally, Great Britain, and all this beating up is causing huge problems between our two countries, and at the very bottom line, why would a bunch of politicians and bureaucrats who have no skin in the game do a better job of compensating victims than the company responsible who has every motive to clean this mess up and get it all put to bed?  They wouldn't.  Don't confuse politics with what is best for those truly hurt and all of us should be very angry at the blatant disregard for the rule of law.  We ignore it at our peril and the unintended consequences are going to be very, very bad.  Watch carefully; we are witnessing a classic government caused SNAFU, which for all of you too young to know it is an acronym from WWII: Situation Normal, All Fudged Up.

And yet we never learn......