@jayz & @kanyewest mutilated 373,000 car for charity @smarterhihphop

Kanye West and Jay-Z Auctioning Off Mutilated $373,000 

\\Maybach for Charity

In "Otis," the first video from the Kanye West and Jay-Z (a.k.a the Throne) joint album Watch the Throne, the two hip-hop moguls oversee some unconventional body work to what appears to be a brand-new Maybach: The German luxury car -- base sticker priceapproximately $373,000 for the cheapest model -- gets sliced and diced with a blowtorch and power saw. In the first 30 seconds of the clip, the automobile loses its roof and doors and gets remixed into an open-air Jeep-style vehicle perfect for joyriding around a parking lot with a quartet of young ladies in the back seat while fireworks blast off, which is exactly what Jay and Kanye proceed to do in the Spike Jonze-directed video.

MTV News asked an expert to appraise the cost of the damage (or improvements, depending on your take) to the car, and the price ranged from $20,000 for a quickie job -- just the welding and painting -- to $150,000 for a fully reinforced frame. Expensive? Sure, but Jay allegedy spent $250K on a bar tab last night, so it probably didn't break his bank. "The thing is, the value of that car is nothing now, you couldn't drive it on the street," DUB magazine's Myles Kovacs told MTV. "It would start malfunctioning bigtime."

Jay-Z and Kanye West are certainly presuming the car is worth far more than "nothing," however -- according to a note posted at the end of the video, they're planning to auction the Frankenbach off for charity: "The vehicle used in this video will be offered up for auction. Proceeds will be donated towards the East African drought disaster." AllHipHop confirmed the auction is legit with the rappers' reps. (The group's publicist hasn't yet responded to The Amp's request to confirm the Maybach is the real deal.) No word how or when the vehicle will be sold off, but potential buyers should presumably plan to host lavish Watch the Throne listening sessions in the car rather than go cruising in it.

Following The Amplifier on Twitter is just as satisfying as buying a megabucks Maybach -- and it's free! 

@barackobama admits something is wrong with our government @smarterhiphop

at 5:09 he talks about how the government cant get things done! 

U.S. NATIONAL DEBT CLOCK Deficit Narrows FIND OUT @HELPUSADEFICIT

Weekly Address: Putting the American People First

THANK GOD FOR OBAMA !!!! 



While members of Congress are at home in their districts, President Obama asks Americans that agree that it's time to put country before party and pass stalled bills to help grow our economy to let them know.

@billgates and werren buffet gives back and tell other to do da same @smarterhiphop

Bill Gates, Indian business tycoon Azim Premji, Melinda Gates, and Warren Buffett at a March 24 press conference in New Delhi.Photograph from Raveendran/Getty Images.

Lately, it’s been easy to criticize billionaires. Ever since the financial crisis hit, they’ve become targets for anyone wishing to blow off steam about inequality in America, and what some believe are harmful concentrations of power and wealth. But at least two exceptional billionaires shouldn’t be put in the crosshairs: Warren Buffett and Bill Gates, leaders of a new philanthropic initiative called the Giving Pledge, are demonstrating their magnanimity by donating a majority of their own fortunes to charity, and encouraging others in their income bracket to follow suit. Officially making “the pledge” requires billionaires to donate a bulk of their assets to charitable organizations, then to announce their commitments in open letters published at givingpledge.org.

It’s an impressive feat to get the wealthy to part with money—especially some of the notoriously acquisitive billionaires named on the Giving Pledge’s list. But by leveraging their combined social influence, Buffett and Gates seem to have successfully raised the bar for what counts as high-level charitable giving. Their achievement recalls the important contributions made by other vastly rich men in previous generations—like Andrew Carnegie, whose famous “Gospel of Wealth” philosophy helped to inspire a tradition of social responsibility among the American upper class.

But if there is a flaw in the pair’s otherwise admirable undertaking, it’s exporting their vision for philanthropy to China and India. Last week, news broke that Buffett and Gates delivered the message of the Giving Pledge at a meeting in New Delhi, where the two men presided over a discussion with Indian billionaires about charitable giving. In a statement made following the event, Gates indicated the discussion was simply intended to be a sharing of ideas, where no direct requests to support the Pledge were made. But the New Delhi summit is seen by many as an extension of the philanthropic mission established in the U.S.; it also followed a similar meeting held with Chinese billionaires in September of last year.

Even with the best intentions at heart and sensitivity to respecting cultural differences, the conference carries a slightly condescending message. It implies somehow that Indian billionaires require the guidance of American billionaires to act responsibly, and in the best interest of their own society. I tend to believe that super-rich Indians—whose fortunes, it’s worth remembering, are already remarkably high and only expected to swell in forthcoming years—have a suitable vision of their own for philanthropy. According to Forbes, the nation currently is home to 55 billionaires—many of whom are internationally renowned entrepreneurs. There isn’t any reason to assume their business savvy and creativity won’t extend to developing effective strategies for donating wealth. Plus, a number of Indian billionaires already rival their American counterparts in the arena of social responsibility. The Tata family, for example, has notably sacrificed personal wealth for generations by placing shares of their industrial conglomerate in charitable trusts to benefit India’s people.

The generous actions of Buffett and Gates seem to offer the best retort for critics of mega-wealth in a time of financial re-centering. Does that mean promoting their program beyond this country’s shores is as appropriate as it seems well intentioned? It’s very difficult to assess, but reports that Indian billionaires received the two men favorably may challenge my personal reaction. Either way, I’ll be following these developments with particular interest.

   

What if U.S. defaults on debt? findout @smarterhiphop

WASHINGTON — If the United States runs short of cash to honor its obligations 18 days from now, the economic impact would be fast and furious.

The country almost certainly would not default on its loans to bond holders, but all other payments would be thrown into doubt. That could start a cascading effect on jobs, loans, investments, prices — virtually every facet of Americans' financial lives.

Some Republicans in Congress dispute the level of chaos that would ensue, charging that the Treasury Department is trumping up the potential repercussions. They include Rep. Michele Bachmann and former governor Tim Pawlenty of Minnesota, both presidential candidates, as well as prominent senators such as South Carolina's Jim DeMint and Pennsylvania's Pat Toomey.

Prominent economists and accountants, business leaders and veterans of Republican administrations disagree, pointing to potentially calamitous results if the nation's $14.3 trillion debt ceiling isn't raised by Aug. 2.

• STORY: Looking for debt deal, Obama outlines cuts

• STORY: How to protect your investments

• VIDEO: Debt talks: Possible compromise?

"The federal government will run short of money and be unable to pay approximately half of its non-interest bills," says Jay Powell, a Treasury undersecretary in President George H.W. Bush's administration. "Those who believe otherwise have been misinformed."

Here are some of the grim realities:

  

Super producer - @smokedoutluger #smoke1 pt 3

@OFFICIALTM103 @DJDRAMA NEW VIDEO FIND OUT @SMARTERHIPHOP