Posted on 09/24/2008 1:57:04 PM PDT by counterpunch
SOURCE: House Republicans met in am: Just 4 members support Paulson plan...
Pence is a true gentleman, an honest politician, and a very devout christian man. He could be the 2nd coming of Ronald Reagan if he could gain the momentum needed to get the GOP nod in 2012.
Pretty funny as I just had slowness getting back to my comments page! I had some computer cable trouble earlier in the day so never know what’s happening. Had to disconnect my LinkSys wireless again.
Maybe you could tell me what other kind of speculation is good for the financial markets. Other than “rampant”. I thought the financial markets were speculative (?).
No.
One of my 48 Liberal Lies About History is that 1929 crash and depression were caused by GOVERNMENT. First the Smoot-Hawley tariff (a tax) then more taxes, then refusal of the Fed to bail out the BUS (as its charter required), then more taxes. Oh yeah, did I mention still MORE taxes?
The S&L disaster was caused by . . . GOVERNMENT, giving FSLIC cover to S&L owners to engage in risky lending (sound familiar?)
Panic of 1893 caused by . . . GOVERNMENT, passing the idiotic Sherman Silver Purchase Act (loved by the stupid Dems).
Panic of 1873 caused by . . . GOVERNMENT, when the GOVERNMENT backed railroad bonds went belly up causing banks to fail.
Panic of 1857 caused by . . . GOVERNMENT, when the Supreme Court issued the Dred Scott decision throwing open all western territories to slavery.
In fact, you have to go all the way back to 1837 to find a "natural" recession.
Not that I am slamming anyone presently in Congress (with this post anyway) however, what we need is true conservative politics via elected officials who have an I.Q. of at least 10 and put country before party politics again.
That’s what concerns me the most. We are in a not neccissarily unique, but still rare and unfortunate position where we can really let capitalism slip from our grasp. I see the potential for sectors, that should not be, become nationalized leaving Alexander Hamilton spinning in his grave. And as we have seen before, once it’s in the hands of the government, it is nearly impossible to wrench it free again.
True. The potential for corruption in the workings of this bailout are un such a cosmic scale that I just can't go for it.
After further consideration: If the government were to print up $425,000 to hand to every adult, your description of "tidal wave" economics would be correct. Everything it touches would be destroyed leaving nothing but wreckage and the crippled survivors envying the dead. Printing and distributing huge amounts of money is the way to hyperinflation Zimbabwe (and Weimar Germany) style.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
If you were "lucky" enough to be in debt, that would largely wipe out debt. But the flip side is if you had anything saved in a bank or insurance plan you would be wiped out.
Put away money for college – it’ll be there
Save in a bank – create money to loan to entrepreneurs.
It wouldn't be worth crap though. Get out your piggy bank to keep your $100 and $1000 coins in.
Buy a new car – create jobs
Sure, if you want a $1 million sub compact.
Invest in the market – capital drives growth
Nope, the growth would be gone to a country with a stable currency.
Pay for your parent’s medical insurance – health care improves
If you don't mind paying $100,000 for a check up.
Even with the current complete bailout plan that injects "only" $3,800 per person, there is a risk of a big jump in inflation. A hundred times that would destroy the economy.
Tell your friend who emailed you this to stay away from the Treasury. We're in enough trouble already.
At any rate, you cannot have 536 people of power in Washington stand around and say, "let the market work." In this day and age, it just isn't realistic.
The first thing I would do is run out and buy one of them thar fancy calulatin' machines and type in 85000000000 / 200000000 =
425. Darn, that barely pays for my calculatin' machine.
How many of these Republicans have also come out for Obama?
It a joke email that I received didn’t check anything. Just thought it was funny.
Its a joke email that I received didn’t check anything. Just thought it was funny. Don’t Obamaize me!
Boehner has the finest tan of the House.
And his nails are always impeccable.
Just sayin’
;)
Right you are. Never trust an email without checking.
.
A little problem - little (hopefully) here too with the “grid”
No problem last night - this morning not too great
I think its irresponsible to be against this and not have a PLAN B. I hope they highlight what it is. I would be vitally important also for McCain to be on board a solution that the majority of Republicans can support, or we have the crosswise message of McCain in one corner, Bush in another, House GOP in a third. If we cant come together then the ‘putting country first’ is bunk. That means we need the PRESIDENT TO LEAD TOO.
Here is my alternative plan, and it is high past time we got more Republicans on board its elements:
http://travismonitor.blogspot.com/2008/09/some-ideas-to-fix-credit-crisis.html
1) Suspend mark-to-market accounting for illiquid CDOs
2) A scaled-back ‘workout’ facility for liquidity of CDO instruments. Give Paulson a tight leash and much less to buy CDOs ‘on consignment’ from these institutions for resale. Find ways to quickly assess the actual quality and performance of the assets. Strict limits on participating institutions.
3) Make Bush tax cuts permanent
4) Commit to a strong dollar
5) Get on a path to get Fannie MAe off govt books and eliminate it as a GSE. Repeal CRA rules.
6) Repeal Sarbanes-Oxley
Last but most importantly is a commitment to keeping USA as debt-free as possible by putting taxpayers first.
etc.
Other than saying “This is not the time for political blame games” (in other words, “I will not hold Democrats accountable for blocking a dozen attempts at reforming Fannie and Freddie.”) I didn’t see anything tangible in Boner’s statement.
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