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This latest crisis has been over hyped by the media. For example the entire market cap of Fannie and Freddy is no more than $8 billion. We have a $14 trillion a year economy. That is 5.5 times the size of Chinas with 1/4 of the people. you litteraly live 10 times better than life in China.
Europe is WAY!!! WAAAAAAY!! more expensive and has far worse inflation than the U.S. Yes the Minimum wage in a lot of Europe is $10 and hour but you can't buy anything with $10 an hour.
1) This government needs to give more Tax breaks to big business so that they can afford to hire people and return it to the economy.
2) We need to immediately start drilling in places like ANWAR so we can
reduce our dependancy on foreign oil. We could be an oil exporter if we would drill more here.
3) We need to cut Government spending and find cheaper alternatives.
1) Oops. Don't be surprised if you get some grief over this one, with talk of welfare for the rich and trickle-down economics. Truth is, all modern economic systems are trickle-down, in the sense that there is some large entitiy, or combination of entities, distributing wealth to those who work for them. In the U.S., it's business. In the communist countries it was the government. At least here there is the chance to make it running a small business, even as small as one individual. Tax breaks in general are a good idea, but it gets tricky, because outside of the far left most people generally favor the idea of lower taxes and small government, but when you start wanting to cut out their particular favorite government service, the tune changes.
2) Okay, it would be bad to wreck the environment. Okay, it's possible to drill in the Arctic with the lowest possible impact, but you do have to ask whether this would really happen. Aside from this, do we really want to drill all our own oil in the name of energy-independence? Maybe it would be a plus to hold our own oil in reserve. Ultimately, we need to develop viable energy sources other than oil, which is something we really need to focus on a lot more than we are now, but in the meantime, if you want to talk about dependence on foreign oil, think how dependent we would be if we used up our own oil and had nowhere to turn but to other countries. I say, leave our own oil be for now.
3) Generally, I agree on cutting government spending, though see the last part of my thoughts on #1. Cheaper alternatives to what?
4) We need a balanced view on global warming. No one really knows what is happening there. Therefore, we should not dismiss the possibility that we are the cause. Even if we are not, there would still be benefits to lessening the amount of pollution we dump into the atmosphere, another reason we need to focus more than we have been doing on finding energy sources not dependent on fossil fuels. On the other hand, since no one knows for sure what is going on with the world's climate, it would be best if we did not let alarmist cries about global warming scare us into accepting every far-left regulation any bureaucrat can dream up. It will take time to sort out the climate situation. Best to remain level-headed on that, and avoid extreme responses in any direction.
reply to comment about middle class paying biggest share of taxes
Quote:
Originally Posted by ainulinale
Not that I'm too concerned for the making wealthy wealthier, but why would you say that the "working class" are the taxpayers when most of the taxes are payed by the wealthy? I mean, if you make $25,000 you're essentially paying the government 9% of your income; if you make $150,000 or $200,000 you give 50% of your money to the government.
Yes that may have been true in the past, but we now living in the new world order where there is no middle class unless they are living on the street and homeless without jobs,and our economy resembles something more like a 3rd world country or Russian style "oliarchy" where everyone lives in poverty except the rich which is only 1% of the population. You can not take a freemarket economy like the USA and destroy all the middle class jobs and taxpayers by sending the jobs to China then expect them to continue buying all the cheap stuff at Wally's world by being the largest consumer group, when they are homeless living on the street without employment.( see top log on this page about America becoming 3rd world country.)
GOD save America by getting us out of NAFTA and the WTO while there still a chance that we might save our country. The NWO's want to destroy the dollar so they can introduce the "Amero" to all of North America (Canada,Mexico and the USA). Then they will take away our constitution and rights as Americans in the name of security or anti-terrorism. The bible states eventually we will all be marked like cattle with RFID chips so we can not buy or sell without the "mark of the beast". Think I am joking? They already forced the amish farmers to do it to their herds. We are next!
This is a crisis in our country that is of biblical proportions. Wake up America! I like what David Meiswinkle libertarian candidate for Governor of N.J. Use impeachment or recall by petitioin to remove every politician from office who refuses to reverse or revoke the NAFTA and WTO suicidal trade agreements. We must take back America. If we do not our country as we know it will cease to exist. They will destroy America with the "almighty dollar and greed".
Under the 'leadership' of a man I could only define aptly as a moron, the USA became a descredited nation teetering on the verge of bankruptcy. Financial and moral bankruptcy I may add. Everything about living in the USA is slowly devolving into what one would expect from living in an underdeveloped Third World nation. This isn't really even a capitalist nation anymore, UNLESS you happen to be a billionaire.
But just what are the traits & characteristics of a 3rd World nation?. Exactly what we see by looking around this great land of ours!. Let me start a short list and I'm sure you dear reader can add infinitely more to it. IF you're willing to be honest that is;
Socialism: The USA has adopted a freaky version of bizarro Socialism, where they take from the working class (aka taxpayers) to give to the rich (aka corporate CEO's). There is simply no other
way to describe the massive bail-outs that are going on in order to make whole private speculators and investors who were already being paid a premium interest rate for investing in supposedly non-government backed stocks. Many are fooled by the erroneous statements to the effect that "this does not involve taxpaper money". DINGLEBERRIES!. The US government has only TWO sources of money: collecting taxes or printing.
So every penny paid to bail out a private investor will come from YOUR (and my) pocket.
The Buck Stops ...NOWHERE: There is no longer any accountability for anything. Statistics are all fudged nowadays and everyone knows it: the government reports 3% inflation while consumers know its 10 or 11%. Bank administrators lend out (YOUR savings) money to anyone who can fog a mirror with no other requirement that they indeed fog a mirror. See any of them going to jail lately?. Mortgage lenders used the easy credit conditions to come out with equally ridiculous home loan packages that require no money down and even no principal payments for YEARS, purposely inducing poor deadbeats to take on loans they should never have even considered thanks to the easy bank loan. Heck, legally speaking one could say bankers & mortgage lenders were acting in concert to commit fraud. These people are not only NOT going to jail, they're actually walking away from this mess with multi-million dollar severance packages!. Talk about Nicaragua. Politicians seem to be all engaged in stuffing their own pockets while completely ignoring their legitimate designated duties. All the way from Cheney and his oil buddies to Rangel and his bootie buddies, everyone is in on the take. Except you & me of course.
Services Going Downhill..FAST: This one is a quality of life issue. It seems every day services in general get worse. It's little things but they quickly add up. Some examples are that everything is outsourced to the lowest bidder regardless of quality so you get the overseas computer tech with the impregnable accent. Or unnecessary complications like how in many areas you have to dial 1 + the area code even if you're in the same area code. Or the misleading manufacturers warranty that never really seems to completely cover the product error or defect. Or the way police depts nationwide sometimes abuse their power criminally yet get away with it. An outrageous and recent case was the Berwyn Heights MD mayor who has his two pet labradors shot by police in a mistaken raid. Do a websearch by typing "police mistakenly shoot..." and you'll be APPALLED by all the cases that pop up nationwide. Make you mistake about it: YOU (and I) are just one itsy-bitsy screw-up away from having our family members shot by the local police. When seeking the services of the courts to criminally charge the offending police officers they always are inevitably either let off the hook entirely by the judge or slapped on the wrist. On the other hand a civil judge will usually grant a large monetary award, as if $450,000 bucks will bring back your two murdered dogs and your childrens (who saw the dogs shot) sanity. Argentina has a better judicial track record.
Plain Stupidity: You'll probably take offense at this one because you're probably the average American yourself, but the average American is dumber than ever. Which is perhaps why a moron represents the US.
Who else but a dumby decides to jump into a Ponzi Real Estate Scheme of musical chairs in order to buy a 750K house on a 30K salary?. Who else mortgages their paid-off home to the hilt in order to buy vain high price consumer items?. Who else supports invading the wrong country for the wrong reasons at the wrong time?. Who else puts up so mildly with the continuous slaps in the face its government gives the citizenry?. Like paying for the bailout of real estate gamblers and speculators?.
USA has FOR SALE sign: Foreigners are swooping in and buying up American interests faster than you can say Patagonia (note for average dumb American reader: Patagonia is an area in Argentina famous for selling out vast tracts of land to foreigners). Companies, land, patents ..you name it. IF you can pronounce the new european name that is.
Will Obama or that other old geezer make a difference?.
Heck NO. Neither one has even addressed the underlying issues that led to this financial debacle nor how they propose to resolve it. This has been the most 3 Worldish political campaign ever run, with both parties more preoccupied with slandering each other than in addressing any issues positively. The mud-slinging was Paraguayan in intensity. And believe me Paraguayans can be intense.
Am I a pessimist?. I'm a new breed of American created by the Bush administration: the walkaway American!. Look at the stats for Americans who have moved overseas within the last 8 years and you'll be astounded!. Just like those people that decide their mortgage is too much so they simply return the keys to the lender and walk away, so too many expatriate Americans have walked away from the constant brain-washing and the lies.
How many third world countries have you visited? obviously not many!!!
Under the 'leadership' of a man I could only define aptly as a moron, the USA became a descredited nation teetering on the verge of bankruptcy. Financial and moral bankruptcy I may add. Everything about living in the USA is slowly devolving into what one would expect from living in an underdeveloped Third World nation. This isn't really even a capitalist nation anymore, UNLESS you happen to be a billionaire........
SNIP
Barney Frank became the chairman of the House Financial Services Committee in 2007 after the Democratic Party won a majority in the House. The committee oversees the entire financial services industry, which includes the securities, insurance, banking, and housing industries.
Barney Frank became the chairman of the House Financial Services Committee in 2007 after the Democratic Party won a majority in the House. The committee oversees the entire financial services industry, which includes the securities, insurance, banking, and housing industries.
Liberals cannot see that we were just fine until Barney, Nancy and the peanuts gang took over in 2007.
Under the 'leadership' of a man I could only define aptly as a moron, the USA became a descredited nation teetering on the verge of bankruptcy. Financial and moral bankruptcy I may add. Everything about living in the USA is slowly devolving into what one would expect from living in an underdeveloped Third World nation. This isn't really even a capitalist nation anymore, UNLESS you happen to be a billionaire.
But just what are the traits & characteristics of a 3rd World nation?. Exactly what we see by looking around this great land of ours!. Let me start a short list and I'm sure you dear reader can add infinitely more to it. IF you're willing to be honest that is;
Socialism: The USA has adopted a freaky version of bizarro Socialism, where they take from the working class (aka taxpayers) to give to the rich (aka corporate CEO's). There is simply no other
way to describe the massive bail-outs that are going on in order to make whole private speculators and investors who were already being paid a premium interest rate for investing in supposedly non-government backed stocks. Many are fooled by the erroneous statements to the effect that "this does not involve taxpaper money". DINGLEBERRIES!. The US government has only TWO sources of money: collecting taxes or printing.
So every penny paid to bail out a private investor will come from YOUR (and my) pocket.
The Buck Stops ...NOWHERE: There is no longer any accountability for anything. Statistics are all fudged nowadays and everyone knows it: the government reports 3% inflation while consumers know its 10 or 11%. Bank administrators lend out (YOUR savings) money to anyone who can fog a mirror with no other requirement that they indeed fog a mirror. See any of them going to jail lately?. Mortgage lenders used the easy credit conditions to come out with equally ridiculous home loan packages that require no money down and even no principal payments for YEARS, purposely inducing poor deadbeats to take on loans they should never have even considered thanks to the easy bank loan. Heck, legally speaking one could say bankers & mortgage lenders were acting in concert to commit fraud. These people are not only NOT going to jail, they're actually walking away from this mess with multi-million dollar severance packages!. Talk about Nicaragua. Politicians seem to be all engaged in stuffing their own pockets while completely ignoring their legitimate designated duties. All the way from Cheney and his oil buddies to Rangel and his bootie buddies, everyone is in on the take. Except you & me of course.
Services Going Downhill..FAST: This one is a quality of life issue. It seems every day services in general get worse. It's little things but they quickly add up. Some examples are that everything is outsourced to the lowest bidder regardless of quality so you get the overseas computer tech with the impregnable accent. Or unnecessary complications like how in many areas you have to dial 1 + the area code even if you're in the same area code. Or the misleading manufacturers warranty that never really seems to completely cover the product error or defect. Or the way police depts nationwide sometimes abuse their power criminally yet get away with it. An outrageous and recent case was the Berwyn Heights MD mayor who has his two pet labradors shot by police in a mistaken raid. Do a websearch by typing "police mistakenly shoot..." and you'll be APPALLED by all the cases that pop up nationwide. Make you mistake about it: YOU (and I) are just one itsy-bitsy screw-up away from having our family members shot by the local police. When seeking the services of the courts to criminally charge the offending police officers they always are inevitably either let off the hook entirely by the judge or slapped on the wrist. On the other hand a civil judge will usually grant a large monetary award, as if $450,000 bucks will bring back your two murdered dogs and your childrens (who saw the dogs shot) sanity. Argentina has a better judicial track record.
Plain Stupidity: You'll probably take offense at this one because you're probably the average American yourself, but the average American is dumber than ever. Which is perhaps why a moron represents the US.
Who else but a dumby decides to jump into a Ponzi Real Estate Scheme of musical chairs in order to buy a 750K house on a 30K salary?. Who else mortgages their paid-off home to the hilt in order to buy vain high price consumer items?. Who else supports invading the wrong country for the wrong reasons at the wrong time?. Who else puts up so mildly with the continuous slaps in the face its government gives the citizenry?. Like paying for the bailout of real estate gamblers and speculators?.
USA has FOR SALE sign: Foreigners are swooping in and buying up American interests faster than you can say Patagonia (note for average dumb American reader: Patagonia is an area in Argentina famous for selling out vast tracts of land to foreigners). Companies, land, patents ..you name it. IF you can pronounce the new european name that is.
Will Obama or that other old geezer make a difference?.
Heck NO. Neither one has even addressed the underlying issues that led to this financial debacle nor how they propose to resolve it. This has been the most 3 Worldish political campaign ever run, with both parties more preoccupied with slandering each other than in addressing any issues positively. The mud-slinging was Paraguayan in intensity. And believe me Paraguayans can be intense.
Am I a pessimist?. I'm a new breed of American created by the Bush administration: the walkaway American!. Look at the stats for Americans who have moved overseas within the last 8 years and you'll be astounded!. Just like those people that decide their mortgage is too much so they simply return the keys to the lender and walk away, so too many expatriate Americans have walked away from the constant brain-washing and the lies.
So what specifically did Bush do?
How about Cheney?
Are you able to list some of the misdeeds they committed that led us to our unfortunate present condition?
You think Bush Caused the subprime melt-down?
2001 April: "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
September: Treasury Secretary John Snow (Dubya's Treasury Secretary) testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the [COLOR=#e0e060! important][COLOR=#e0e060! important]financial[/color][/color] activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.
Banks forced to make CRA NINJA loans to uncreditworthy blacks?
Thank Clinton for that.
"After 12 attempts in 25 years, Congress finally repeals Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts. Supporters hail the change as the long-overdue demise of a Depression-era relic."
On Oct. 21, with the House-Senate conference committee deadlocked after marathon negotiations, the main sticking point is partisan bickering over the bill's effect on the Community Reinvestment Act, which sets rules for lending to poor communities.
"On Oct. 22, Weill and John Reed issue a statement congratulating Congress and President Clinton, including 19 administration officials and lawmakers by name. The House and Senate approve a final version of the bill on Nov. 4, and Clinton signs it into law later that month."
Citibank can fail, and Traveler's Insurance can fail, but Citigroup is too big to fail.
Thanks Bubba!
Thanks Democrats!
Watch: YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Eco - Mixx (http://www.mixx.com/videos/2257126/youtube_shocking_video_unearthed_democrats_in_thei r_own_words_covering_up_the_fannie_mae_freddie_mac _scam_that_caused_our_eco - broken link)
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reply to comment about middle class paying biggest share of taxes
