"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey

T. Boone Pickens was on CNBC this morning with an energy plan that calls for cars to be converted from burning gasoline to natural gas. Can you imagine the fireworks show we will see if two cars burning natural gas collide?

Once again, old solutions to the energy crisis keep appearing. During the energy crisis of the 1970's Alternative Fueled Vehicles (AFVs) came in vogue. Studies conducted in the 1970s promised alternatives to counteract soaring fuel costs and oil shortages. Magically, the drop of gasoline prices in the 1980s put an end to the alternative craze.

I say craze because energy scares are nothing new. Our business leaders, with the help of Wall Street bankers created the current energy shortage when they began to build up the economies of Chinese and India by shipping U.S. jobs overseas.

In short, electric, natural gas, and fuel cell vehicles are nothing new. Either are any of the solutions that call for alternatives such as wind, solar, and nuclear.

Our Fearless Leaders Created the Energy Crisis

Outsourcing labor to China and India has lead to a manufacturing boom in both countries. If we didn't send U.S. jobs to China and India, there would be no new found prosperity in either country. As a result, there would be no energy crisis, no commodity inflation, and no new demand for raw materials materials.

Our lost jobs have lead to a building boom in Asia, and as a result, the Chinese and Indians are demanding raw materials and commodities to grow their infrastructures. This outsourcing has lead to new found wealth which in turn demands more energy and raw materials.

"If Wall Street hates a stock, buy it"- Martin Sosnoff

CMO's (Collateralized Mortgage Obligation), CDO's (Collateralized Debt Obligation), and SIV's (Structured Investment Vehicle) has created havoc in the market place, and massive losses for the banks. Most of these losses have come as a result of the GAAP accounting laws, which calls for these products to be repriced at their current market values, and currently there is no market for these products.

As a result, any bank or financial institution holding these products have had to write down or write off these products at a loss. These real or artificial write downs are the reason banks are looking to raise new capital.

If the GAAP accounting laws are changed, and banks are allowed to value these securities at maturity, the financial crisis as we know it will end. In addition, banks will be allowed to add some of the written down assets back to their balance sheets.

Also in the works is the Senate Banking Committee plan which would provide relief to people who are at risk of losing their homes. Once the details are worked out, it is estimated that the foreclosure of 500,000 homes can be avoided.