How to Save the US Economy!!!

This country is in debt. How did that happen, who are we debt to? Ask yourselves that?

 

oh and BTW. im no where close to florida, im referring to the region bounded by greenville,athens,atlanta,chattanooga,asheville.

 

why ask that.. theres no use crying over spilled milk.. the question to ask is how do we save this country from doom?

what good does it do to sit and chastise bush day in and day out? it solves nothing..
he will be out of office in 8 months,,then what? ive heard no clear solution to our problems from ANY of the candidates..
so what? you just going to continue for the four years after bush is out of office blaming him for the problems instead of demanding the congress and the senate come up with a plan that will save this country?

this is why i stayed away from the politics forum for so long..
sometimes what i consider logic,rational thinking and a understanding of just exactly how this country works is hard to come by..
i guess we will have to agree to disagree on this one..

i just dont see eye to eye with you..

have a great evenin gardner.. great typin at ya..

 

Not exactly spilt milk. Bush came into his administration with a surpulus. He chose to get engaged in a war in the middle east. I am sure it promised a return for the the big oil players, if the Iraqis would sign the PSAs. But they haven't and for their own good I hope they don't. If they do, they lose all leverage. And I don't think of them as stupid, they know what they have at stake.

 

there was no surplus it was cooked books and you know it..
http://www.letxa.com/articles/16
http://dark-wraith.com/2005/12/treasury-secretary-calls-clinton.html
http://www.worldfreeinternet.net/news/nws174.htm

im done here..
good night

 

Dealing with the truth hurts and quite frankly it can be both uncomfortable and embarrassing.
Nevertheless, the truth need to be brought out into the open and not simply denied and swept under the rug as what Bush and the Neocons have been trying to do.

Our children and the younger generation should be made aware of what they will be up against.

A Bankrupt Superpower
http://www.populistamerica.com/a_bankrupt_superpower


"Moreover, the GAO report pointed out that the accrued liabilities of the federal government "totaled approximately $53 trillion as of September 30, 2007." No funds have been set aside against this mind boggling liability."

 

Exactly- and the tax payers oif today need to be aware, Why are private contractors in Iraq paid more than our US Military? They consult and tell our forces what to do, but since Executive Orders they are held abobe the fray, and legal action, why is that?

 

well skip all i can tell you is i guess you should run for congress or senate this year,get elected and introduce your bill then pray that it makes it through the the house,senate and the president signs it. the other option would be to lobby your congressman or senator to introduce a bill and then when it finally gets introduced go through the same process. (either should only take till july or so of next year)

i really dont see anything even close to that being proposed and what is being proposed has already been designated to be vetoed by the *cough* "president" so i dont know why your demanding i entertain this idea ..

yes i disagree with your plan, i could go into greater detail of why i dont see putting a band aid on a festering open wound as a solution but i already know it would be useless.

im not trying to be flippant, and i mean no disrespect,i just dont see why its worth getting in a heated debate over a hypothetical plan that is never going to happen..

you have a great day skip.. i gotta go pay some bills..

 

You know what I would do if those proposals passed? I'd go straight to the bank and withdraw every last cent. These proposals would lead to system wide bank failures which would make the current credit crunch look like a walk in the park.

When will people stop turning to populist solutions? 1+1 = 2. You cannot just cut everybody's payments in half and pretend that this isn't producing a dollar for dollar loss for the bank that made the loan. You are proposing to end the credit crisis by piling billions of dollars of losses onto the banks. Good luck with that.

I have always had credit card and never paid a cent of interest. I don't pay annual fees either. I pay off my balance. As hillbilly says, why do irresponsible borrowers deserve to get bailed out? Won't that encourage people to be even more irresponsible next time?

People keep saying we are bailing out the banks - well tell me, if Bear Stearns shareholders lost 93% of their investment, if American Home Mortgage Investment investors lost close to 100% of their investment, if Citi shareholders have lost 57% of their investment over the past year, what is your definition of a bailout? They aren't getting bailed out, they are taking massive losses. They are suffering for their bad lending practices.

 

Yes, they are getting bailed out.
Since the U.S. is trillions and trillions of dollars in the hole, they are lending money that didn't exist.

The banks merely shuffle money made out of "thin air".
And get paid with interest doing this shuffling.

And now, when banks screw up, these same banks are getting bailed out.

The big corporate fat cats get bailed out.
Once again, the little guy, the average joe schmoe gets shafted.

 

If the Citigroup share price goes down 57%, how is that a bailout? Its a simple question and if you knew what you were talking about you'd be able to answer it. 57% down mean Citi shareholders lost $125 billion dollars.

Also, banks do not create money out of thin air. They borrow from depositors or other lenders, and then loan the money out. They have balance sheets which add up the same as the balance sheet for any other company.

 

And Citigroup keeps dropping, almost 20 billion USD this year.

http://afp.google.com/article/ALeqM5gsR5xNvNWkJiV-J4tMjsI3M959eQ

 

This is so sad it's funny,

http://dispatch.com/live/content/local_news/stories/2008/05/06/payday_rally.html?sid=101

excerpt.

When these payday loan stores go out of business, their clients will have to go somewhere, which they more than likely will pay more than 381-500%, pretty fucked up.

http://www.walletpop.com/2008/04/30/payday-lending-part-ii-the-state-of-the-industry-today/

 

banks are allowed to lend 10 times the amount they borrow from people. if the bank has 5 dollars, they can loan someone 50. when that gets payed off they can loan 10 people fifty. so on and so forth. read "The Creature From Jekyll Island" there's some funky shit goin on with the federal reserve, did you know it's a privately owned company?

 

ive stewed on this all day..

for anyone interested in exactly who the "homeowners" that "need" bailing out are, here is a very good show from this american life on the housing crisis..

http://podcast.thisamericanlife.org/podcast/355.mp3

after listening to this show last night i am even more convinced that the vast majority people who are in trouble on there home loans were either people that were flipping houses and got caught in the crash,people who had defaulted on loans in the past over and over and over or people that took NINA loans and lied about there income and assets.
then there are those such as one person interviewed who made 45 K a year and took a 300 K plus loan for a house..WTF? i make about that and i would never think of taking a 350 K loan out.. its just stupid!!!!

then there are the middle men in the boiler rooms that were trading the shit loans who went from high 6 figure incomes to 5 figure incomes over night and are now facing foreclosure themselves..

im sorry i have no compassion for those who lie to keep up with the jones's or those that took loans knowing FULL well they could never afford the payments but took them anyway because they were approved and i SURE AS HELL dont have any compassion for the brokers..

are the banks to blame for offering such ludicrous loans?? hell yes! are the people who took said loans equally guilty? IMO yes yes they are.its just common sense to run a household on a budget,ya dont buy what you CANT AFFORD!! whether someone offers it to you or not...

a responsible person doesnt "think they can afford" when it comes to big ticket items. anyone with a brain sits down and does the math,researches the loan terms,looks at all the what ifs and then makes a sound informed decision.
there is NO excuse for STUPIDITY IMO..

personal responsibility has been thrown out the window in this country and now everyone wants to ONCE AGAIN reward bad behavior..

no i say let them all wind up homeless. i dont care if i lose my job, i dont care if the economy gos down the shitter.. i am SICK AND FUCKING TIRED of this country rewarding bad behavior while we who play by the rules have to suck it up keep pluggin along and help pay to bail these idiots out with our hard earned tax dollars..
i urge you to listen to the show. it is very eye opening...

 

Uhm... Congratulations Hipstatic,
You have been brainwashed since birth, you wouldn't know a deception if it bit you in the ass.

The banks can and do create money out of nothing.

Corrupt Federal Reserve - Robbing Americans Since 1913 [1/3]
https://www.youtube.com/watch?v=BPU8w7Bxc0A

 

We interrupt this thread to bring you some musical video of a song by the group Dire Straits.

The song is called "Money For Nothing". A fitting reflection of the current state of the U.S. economy.

Enjoy.

Money For Nothing - Dire Straits
https://www.youtube.com/watch?v=hDpMqKSrr7Y

 

No, its a hoax. I have read it many times.

Banks are required to keep a fraction of their customers' deposits with the Federal Reserve system or in cash. So, for example, if a bank has a $100 dollar deposit, and the required reserve ratio is 20%, they can only lend out $80. $20 is kept in reserve. The way the hoax works is to say that banks are allowed to loan five times as much as they have on reserve (5x20=100) but then to make you think this is a multiple of deposits. It isn't.

As I said before, get a balance sheet for any bank for any year. Their assets are equal to their liabilities plus their equity. They don't have loans equal to 10 times their deposits.

Also, the regional federal reserve banks are privately owned, but the Federal Reserve system is not.This is also a deliberate hoax.

 

I am not sure where you get the 20% figure. But things changed starting in 1988.

http://query.nytimes.com/gst/fullpage.html?res=940DE3D7103FF932A35751C0A96E948260