Posted on 07/14/2008 10:57:25 AM PDT by Dukes Travels
It says a lot about the current state of affairs in America – and nothing good – that people get offended and outraged when someone tries to tell us things are really not so bad.
Former U.S. Sen. Phil Gramm of Texas has apparently lived too long and done too much to care. We need more people like this. It would be fantastic if the presidential candidate Gramm is advising – John McCain – would think and talk like this. (He isn’t. Oh well.)
In an interview last week with the Washington Times, Gramm said what needs to be said about the economy, and perhaps more importantly, about the state of mind of the American people. Labeling the supposedly horrid economy a “mental recession,” Gramm placed responsibility squarely on the backs of those whose mush-filled minds simply believe whatever they hear about the economy. As the Times reports:
(Excerpt) Read more at northstarwriters.com ...
I cannot stress how important it is to have your sleeping platform elevated (from the “floor”). That’s good for 6 to 12 degrees Fahrenheit, easy.
Senator Phil Gramm while protected is his Government (at the taxpayers expense) bubble is saying America needs to quit Whining. He is a BIG reason why we are at the beginning stage of major bank meltdown. The repeal of the GSA and the establishment of the Gramm-Leach-Bliley Act Act in 1999 according to the article revoked banking laws that has been intact since the great depression.
A:Yes some banks did. Glass-Steagall was not to protect individual banks. It was enacted to protect the currency of our country. By dividing it kind of like the way government is broken into three major branched. By putting gin barriers for major banks it prevents the public from panicing and withdrawing all their money from the banks.
Q: Well where is the government going to get the money. Oh yeah that is right they just print at will. Thus you have more way dollars in the marketplace, which leads to a devaluation of the currency. Then OPEC gets pissed since the dollar is worth less raise the barrel of Oil since they control 40% of the World market. We get high price energy cost and high inflation. Nice huh?
Q: You have a funny definition of majority.
A: What are you trying to say China does not have the most outstanding T-Bonds?
The fact that you have a Reagan conservative in your sights is just a bonus.
Our economy and much of the economic damage done in recent should go in the textbooks as what a “self fulfilling prophesy” is.
If you talk about doom and gloom long enough in the media, if a Presidential candidate himself adds doubt and creates fear out of political self interest..... Well, what you get is what we have. A robust economy structurally, globally competitive, where world markets look good, yet is stalling because of fear alone.
Didn’t FDR (Democrat) make some statement reference fear and the economy in 1933? I guess Obama didn’t learn about that in Indonesia.
Excellent!
It was enacted to protect the currency of our country.
Where did it say that? Perhaps you have a link or excerpt?
By putting gin barriers for major banks it prevents the public from panicing and withdrawing all their money from the banks.
Glass-Steagall prevented panics? Are you sure you're not thinking of the FDIC?
Well where is the government going to get the money.
What money?
What are you trying to say
Here's a math question for you, say you owe $100 dollars, $1 to each of 98 people and $2 to a 99th person. Would you say the guy you owe $2 holds the majority of your debt?
What are you trying to say China does not have the most outstanding T-Bonds?
China does not have the most outstanding T-Bonds.
Now our banking industry is going into a meltdown (what Glass-Steagall protected our banking industry from), and Phil has the audacity to say we are Whining while he leaches off the tax payer???? If it was not for his stupid bill, then we would not be in this situation! The guy is a freaking idiot! He causes the problem by changing laws that had been law for years!
It's obvious this Dip $hit does not work in the private sector. If he did, then he would not make such an assenheim statement. What a jerk!
Yep, things aren’t so bad, quit whining.
Now give me your tax money to bail out Freddie and Fannie.
Any government fix usually entails expanding the government.
Any expanse in government usually includes all the typical shortcomings of anything the government runs or manages.
However, the new Conservatives just like they feel they must out-due the Democrats in race pandering (especially Hispanics for the Republicans) subscribe to the “big government” answer. Many of the modern Conservatives are very much like their European counterparts; a little more nationalist, a little more pro-defense, culturally more self aware, but essentially a “big government” answer to every problem, real or fictional. Look at McCain jumping on the Global Warming bandwagon so has he reversed his position on the border yet again?????? Very disappointing......
If it was not for his stupid bill, then we would not be in this situation!
I've been waiting for some hours for the proof, and all you've managed to this point is "his bill repealed a law on the books since the Depression." Slim pickings.
A: It says to protect the banking industry in the nation. How can you say the value of the dollar is not tied into the way the nation does banking? If currency is not protected and managed well, then it becomes worthless.
Q:Are you sure you're not thinking of the FDIC
A: FDIC is only good for $100,000. Far below a value of a mortgage.
Q: What Money?
A: The money the Feds want to spend to bail out Indybank
Q: Would you say the guy you owe $2 holds the majority of your debt?
A: No he owes 2% of the $100
Are you saying he is not getting a Retirement from the government?
I’m saying that your fixation on his government service is a red herring.
Can you connect the dots?
To help you regain focus, what does the repeal of Glass-Steagall have to do with the failure of IndyMac?
So it doesn't say anything about our currency? Glad I could clear that up.
FDIC is only good for $100,000. Far below a value of a mortgage.
So Glass-Steagall doesn't prevent bank panics. Glad I could clear that up.
The money the Feds want to spend to bail out Indybank
The FDIC is not using taxpayer money to pay IndyMac depositors. Glad I could clear that up.
No he owes 2% of the $100
Excellent. China does not hold the majority (that'd be 50% + $1) of our Treasury Bonds. China does not hold the most Treasury Bonds. I'm so glad I could dispel so many of your misunderstandings today.
If you feel confused about anything else, you feel free to ping me. I'm always glad to help.
As Mr. Newt used to point out, the right spelled out in the Declaration of Independence is the Pursuit of Happiness, not happiness itself.
Per Frank Barone: “ git off your pity-pot Nancy and quit your whinning”. From TV show “Everybody Loves Raymond”
The quote should be used more often.
Also another quote from Unknown: “ I bitched because I had no shoes, until I saw a man with no feet”
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