I did a quick survey of common people at a couple of local stores over the past two days, regarding their opinion on the $700 Billion Bail out plan. I've posted their comments below.
Out of only 11 people I spoke with, 4 clearly had no clue. They did not know anything about it all all. Three people almost did not know anything. And 4 had specific comments.
The question: "What do think about the $700 Billion Bail Out?
Comments, in order of chronology:
1) Don't know about it. Haven't heard the news lately.
2) I'm very mad. They are the ones at fault. What about us?
3) Great if it works.
4) Don't know. If they gotta do it, they gotta do it.
5) We've been helping the big guys get where they are. What about us when we need it?
6) If we're going to give this money to these companies, they should give us something back in return.
7) Don't care. Life goes on.
8) What bail out? McCain? (no the Wall Street bail out) Oh, uh... they're lining their pockets. That's all--looking out for themselves. But I haven't followed it much.
9) Don't know.
10) Not good. Don't know much about it.
11) Don't know anything about it.
Friday, September 26, 2008
McCain is Lost and Desperate
Would anyone want a person like McCain leading the company they work for or taking over their corporation, let alone President of the US? Just look at the panic and desperation: Picking Palin was a panic decision to get Hillary's voters. He said the "Fundementals of the Economy are sound" was a panic / out of touch answer off the cuff. Wanting to fire the SEC Chairman last week was not only panic again, but he doesn't know the President has no authority to fire the SEC chair. Posturing about cancelling the debate with Obama is a politically motivated panic decision to bring attention to himself, impeding on the real decision-makers trying to solve a big problem. Furthermore, when he and Obama were requested to a meeting with the President, he had nothing to say. Obama even initiated a conversation with him and he had no response! Other than a photo op, why did he go there then?
Wednesday, September 24, 2008
Bush: You had me (running away) at Hello
My oh my!
Just knowing Bush is behind this Bail out proposal had me running for cover. I urge all Americans to remember the scenarios surrounding the decision to invade Iraq. If you just replace a few words here and there, it's hauntingly familiar. The Bushies are holding a gun to Congress to act quickly and decisively on a multi-billion dollar "plan" to do something never done before in the History of America at this scale. Mind you this "plan" is to be orchestrated by the same crooks that got us to this point to begin with. Oh, and as a side note, they want no oversight by anyone in government and want to be immune to lawsuits if this "plan" turns sour. What's their risk in possibly failing? OUR MONEY. Talk about a gambler's dream: to risk everything on a roll of the dice with everyone else's money. If you win, you're the hero for an entire generation or more. If you lose, you retire to your beach house and watch the country crash and burn.
Yes, maybe something does have to be done, but no matter how urgent and necessary and important this bail out actually is, asking Congress to close their eyes and sign the deal is at best uncivilized. A better word for it is BUSHISM. Bushism is a simple doctrine: Take away as much money away from ordinary people and expand your own powers with it.... and quick! I mean NOW. Now Now. You're late already. As Paulson said to Congress earlier this week: "Just sign it and we'll worry about the details later." After reading a 3 page ditto. I got more instructions from my son's 7th grade teacher on his first day of school.
I propose this: Take half of that $700 Billion and offer a fixed, low interest loan to families facing foreclosure or on their way to facing foreclosure. Base this loan on the lower end of their home's value and wipe out their original predatory loan. Now, with the rest of the $700 Billion, put together a comprehensive green energy plan that puts tens of millions to work and in a few years package, market and sell the technologies and innovations made in renewable energies to the world for a profit. Detroit can flourish with hydrogen and electric cars sold to India and China. America will again be making things instead of just being a credit based economy. This, in due time can help cut into our $12.1 Trillion Debt. Moreover, don't give anyone a tax cut right now. Get out of Iraq. Provide low cost (not free) health care to the uninsured... so long as they work, if they are able. Increasing the sales tax on Luxury goods will fund the create a few more million jobs by rebuilding our infrastructure. Even if it's a few billion dollars at a time, it's a start.
Oh, I almost forgot... what about those financial companies that are about to sink in 48 hours? Allow the big ones to merge and pool their resources and talents together, become a nonprofit organization for 5 years and check their books every month. Yes, there may be massive layoffs, but even if you save them, there is to be massive layoffs. Take the layed off workers, train and hire them as teachers and nurses. And finally, go on a 16 year moratorium on Republicans in power and see America meet and exceed its goals! (those 16 years by the way would be Obama two terms; Hillary two terms)
Just knowing Bush is behind this Bail out proposal had me running for cover. I urge all Americans to remember the scenarios surrounding the decision to invade Iraq. If you just replace a few words here and there, it's hauntingly familiar. The Bushies are holding a gun to Congress to act quickly and decisively on a multi-billion dollar "plan" to do something never done before in the History of America at this scale. Mind you this "plan" is to be orchestrated by the same crooks that got us to this point to begin with. Oh, and as a side note, they want no oversight by anyone in government and want to be immune to lawsuits if this "plan" turns sour. What's their risk in possibly failing? OUR MONEY. Talk about a gambler's dream: to risk everything on a roll of the dice with everyone else's money. If you win, you're the hero for an entire generation or more. If you lose, you retire to your beach house and watch the country crash and burn.
Yes, maybe something does have to be done, but no matter how urgent and necessary and important this bail out actually is, asking Congress to close their eyes and sign the deal is at best uncivilized. A better word for it is BUSHISM. Bushism is a simple doctrine: Take away as much money away from ordinary people and expand your own powers with it.... and quick! I mean NOW. Now Now. You're late already. As Paulson said to Congress earlier this week: "Just sign it and we'll worry about the details later." After reading a 3 page ditto. I got more instructions from my son's 7th grade teacher on his first day of school.
I propose this: Take half of that $700 Billion and offer a fixed, low interest loan to families facing foreclosure or on their way to facing foreclosure. Base this loan on the lower end of their home's value and wipe out their original predatory loan. Now, with the rest of the $700 Billion, put together a comprehensive green energy plan that puts tens of millions to work and in a few years package, market and sell the technologies and innovations made in renewable energies to the world for a profit. Detroit can flourish with hydrogen and electric cars sold to India and China. America will again be making things instead of just being a credit based economy. This, in due time can help cut into our $12.1 Trillion Debt. Moreover, don't give anyone a tax cut right now. Get out of Iraq. Provide low cost (not free) health care to the uninsured... so long as they work, if they are able. Increasing the sales tax on Luxury goods will fund the create a few more million jobs by rebuilding our infrastructure. Even if it's a few billion dollars at a time, it's a start.
Oh, I almost forgot... what about those financial companies that are about to sink in 48 hours? Allow the big ones to merge and pool their resources and talents together, become a nonprofit organization for 5 years and check their books every month. Yes, there may be massive layoffs, but even if you save them, there is to be massive layoffs. Take the layed off workers, train and hire them as teachers and nurses. And finally, go on a 16 year moratorium on Republicans in power and see America meet and exceed its goals! (those 16 years by the way would be Obama two terms; Hillary two terms)
Wednesday, September 17, 2008
Fed Bail Outs
This financial crisis in the markets has gotten me worried about the economy. AIG fell into the lap of the Fed along with Fannie and Freddie and earlier, Bear Sterns. What's next? These maga corporations ride high when they are profitable, giving hundrends of millions to top execs and CEO's; but when their greed consumes them, the Fed steps in for the rescue? What about rescuing us?
How about instead of leaving the people to crash and burn, offering a guaranteed low interest loan plan directly to the people so they can be saved from foreclosures? Now, I know some of the homeowners just cannot sustain their payments no matter what. Those people probably should lose their homes. But there are many others that just need a temporary boost, due to job loss or illness or high interest rates on their homes. Arrangements can be made with this group. Saving these people, in turn, would save these financial institutions at the same time. They would all get their mortgage payments in on time hence, a lot lesser crisis!
The housing market would be saved from going under. Isn't that the root of all this Wall Street chaos? I'm no economist, so why does this make sense? Let's exaggerate and say there are 5 million homes at or near foreclosure. The Fed lends homeowners an average of $40,000 each at an interest rate of 3% fixed for 10 years. That would cost the Fed $200 Billion. It's a lotta dough. But what they've spent (so far) is over $830 Billion on bail outs.
How about instead of leaving the people to crash and burn, offering a guaranteed low interest loan plan directly to the people so they can be saved from foreclosures? Now, I know some of the homeowners just cannot sustain their payments no matter what. Those people probably should lose their homes. But there are many others that just need a temporary boost, due to job loss or illness or high interest rates on their homes. Arrangements can be made with this group. Saving these people, in turn, would save these financial institutions at the same time. They would all get their mortgage payments in on time hence, a lot lesser crisis!
The housing market would be saved from going under. Isn't that the root of all this Wall Street chaos? I'm no economist, so why does this make sense? Let's exaggerate and say there are 5 million homes at or near foreclosure. The Fed lends homeowners an average of $40,000 each at an interest rate of 3% fixed for 10 years. That would cost the Fed $200 Billion. It's a lotta dough. But what they've spent (so far) is over $830 Billion on bail outs.
September 17th, 2008
This is Day One!
I'm now a blogger. My goals for this site are simple and very open-ended. I will post original thoughts, poems, lots artwork and sketches, talk about outer space, God, Science, food, family and sometimes post photos. We can talk NFL and NBA too. You are all welcome to share your input.
My mom will turn 80 on December 28th. Wow! I love her very much. I'll do a painting with her in mind and maybe write a little poem too. I'm not really a poet by any stretch, but I have deep emotions for certain subjects. Mom is one of them.
Now I need to figure out how to upload an image....
Later
This is Day One!
I'm now a blogger. My goals for this site are simple and very open-ended. I will post original thoughts, poems, lots artwork and sketches, talk about outer space, God, Science, food, family and sometimes post photos. We can talk NFL and NBA too. You are all welcome to share your input.
My mom will turn 80 on December 28th. Wow! I love her very much. I'll do a painting with her in mind and maybe write a little poem too. I'm not really a poet by any stretch, but I have deep emotions for certain subjects. Mom is one of them.
Now I need to figure out how to upload an image....
Later
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