Birds of a Feather...
Posted on 10/10/2008 2:41:48 AM PDT by DoughtyOne
Edited on 10/10/2008 2:49:43 AM PDT by Jim Robinson. [history]
Bloomberg television states Bush to address the public later this morning.
Bloomberg states: “Bush to assure the American Public he’s going to do all he can.”
10:25am EDT
Thanks, but you've done enough. Every time this guy talks Obama gets another 5 points.
"Homeless shelters" are part of the enabling industry. In my city we have about 800 permanent homeless - and about 15 organizations that collect millions of dollars to "serve" them. It's a rip off. Doesn't help anyone except the liberals who work there.
What the people on Fox know about finance could be put into a thimble — and once in there, it would rattle around like a marble in a railroad box car.
And your solution is???
Imprison all the socialist lackey buffoons in Hank Paulson's newly acquired houses.
Then, when Obama doesn't win, all the aforementioned socialist lackey buffoons will be incinerated during the ensuing riots!
Another week like this one and there'll be too many volunteers for the all-night machine gun at RFK stadium.
I still think your definition of what constitutes treason is too broad for my taste. I would even go so far as to say that I doubt that you or anyone else could convince Roberts, Scalia, Thomas, or Alito that the actions taken so far in regard to the economic situation fit the definition of treason given in the Constitution.
It would be reasonable to say that the markets have not responded positively to the passage of the “bailout.” But it will be some weeks before any of the 700 billion is actually used to purchase any of the distressed instruments. It will take time for the actual effects to be felt. It may or may not help, but it is still way too early to make a definitive judgment about the bill. I don’t like it one bit, but as far as I can see, Article One, section 8 of the Constitution gives the federal government the power to take such actions.
It is also my understanding that the bill was not so much to save the Dow Industrial averages, but to loosen up the credit market. The level of the Dow is more like the temperature of the fever, but the credit crunch is the virus causing the fever. If the credit market were to open up more reasonably, we would probably see a calming of other markets in due time.
Normally it takes a full year for the US government to get that kind of spending authority.
He let the Democrats walk all over him for 8 years. Through his lack of communication, he let things like the Michael Moore movie manifest, take all the blame for the Iraq war, take blame for Katrina, take blame for Enron, allowed the joke 9-11 commission to form with guilty parties sitting in judgement, and now is allowing this crisis to be blamed on him as well.
He stands up to foreign enemies but not the domestic ones.
It was a utopia in which the financial services sector (which produces nothing) rose from 2% to 20% of the economy. You cannot have the federal government taking 20%, financial services taking 20%, retirees taking 20%, state and local governments taking 20% and have anything left for those who actually produce. A major restructuring is happening.
There’s little that Bush can say now that will be of any help.
The natural tendency to want the government to “do something... anything” should be repressed. Everything they’ve done so far is making this worse. They’re adding new moral hazard into the system, they’re propping up those who made bad decisions (at the expense of those who didn’t), and they’re moving the country more and more towards socialism / fascism / crony capitalism (take your pick, depending on the respective action.)
Folks, the real problem here is our monetary system. We have a fiat currency. We have a banking cartel. We have a centrally planned monetary system. They screwed up and left the money spigots on too long, which led to easy money, which led to people making bad investment decisions and the bubbles which have now popped.
Yea all of the other stuff - Fannie and Freddie, CRA etc... also enabled this particular bust, but we’re going to continue going through these booms and busts unless and until we address the underlying problem - the monetary system.
We need to demand of our leaders that they abolish the fed, that they move us to hard money and a free banking system without fractional reserve banking on demand deposits.
That’s the solution. Anything short of it and we’ll be revisiting this crap over and over and over again.
It's not irrational and insane at all.
There are about 825 billion real dollars (legal tender) in the world. They are supporting a credit-based pyramid of trillions and trillions of interlocking obligations, most of which are no good.
People have copped on, they get it that not everyone is going to be paid, and they want their money out ASAP.
What they don't understand (yet) is that the FRNs aren't any good, either. The green paper standard is going to fall.
When they start to understand THAT, we're really in the soup.
Bush to address economy this morning.
DOW to drop 200 during.
Do you think so?
Bush is gonna say—Don’t panic.
Birds of a Feather...
Anyone-is he speaking yet?
Foreign policy conservative, economic moderate...socially leaning left. I can safely say that some of his advisers may be economic communists with the way things have gone.
It makes absolutely no sense that Bush would have wanted this to happen to the economy no matter what his level knowledge is of free markets. Economic moderates don't want to kill the goose that lays the eggs.
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