Hedge Fund Nation

The Bush Depression


In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

Let's teach him we are smarter than that .

31 states are voting now, dont wait
Elect Obama Biden 2008





Check out this video of sarah palins interview before you vote



http://www.youtube.com/watch?v=r36Xc0GG4i

You may not like Bill, but sometimes you have to love him!
http://www.foxnews.com/video/index.html

This bailout is so reminiscent of the rush to go to war with Iraq. The same president proposes it. The same president says that it must begin immediately to avert tragedy. The same pressure on congress is applied to suppress debate and dissent. The same time frame, being the month before a national election is in place, adding fear of losing one's office if debate is even suggested, and it includes the same panic prone public, now trained to be fearful by the same president who started all of this crap. It is a shame that we can't impeach him after he crawls back home from the debris of his tenure in our highest office. Nothing is too urgent to debate and inform a public which has not been adequately informed as it should, by the process of lengthy debate in congress and a press which reports it to the public. What we have now is packaged gobbledegook and wide eyed government officials urging us to hurry and put common folk in taxable debt for eons to save an undeserving investment community and worse, an undeserving administration which regrets that it couldn't talk us into putting our social security proceeds in the stock market.

W. C. Fields, Will Rogers, Mark Twain, Groucho Marx, Barnum and Bailey, all knew something we have yet to learn in this 'new global economy' of the 21st century: as much as things change away, they remain the same. Americans must relearn to NEVER TRUST ANY POLITICIAN. DON'T TRUST, HOLD ALL POLITICIANS ACCOUNTABLE. WHEN THEY FALL, SEND THEM TO PRISON. HERE'S A HORRIBLE TRUTH FOR Y'ALL: REVIEW THE GLASS-STEAGALL ACT OF 1933 RECENTLY REPEALED BY PHIL GRAMM ET ALL IN 1999. OH YEA, FOLKS, WE ARE DEAD. REVOLT. REMOVE ALL POLITICIANS AND START ALL OVER AGAIN.

While we are at it, let's look at the raise to $250,000 to cover our bank deposits when there is not even enough cash to cover the $100,000 limit. Now, that's what I call real transparency. You can see through it. It is anesthesia. It is clearly a diminution of dollar values. I still remember the newsreels (no TV, Biden) during the 1930's showing Germans going to the grocery store with wheelbarrows full of paper currency to buy groceries. It's easy, if you are the government, to just print whatever amount of money that you need to make your figures work. It was in that period, the early 1930's, that Adolph Hitler became the dictator who was elected by people who were desperate to fine some normalcy in the face of such madness. And that is where the rub is that we now face. We have a choice of continuing to feed the monster that got us were we are now with ever cheapening cash dollars, and crash bigger, later, or we can crash now and recover sooner. I see, in the ignorance that you say that I possess, wheelbarrows full of money in this bailout. Worthless cash caused by escalation of fallacious economic policies. None of either the creators or the supporters of this bailout will say that it is certain to work. All of them know that it is a temporary bailout to just get them through November so that they can be re-elected. They are Scarlett O'Hara, of Gone With The Wind, saying, "I'll worry about that tomorrow".

It seems to me that if you are broke then you have to have a viable working plan. How does the limit of the FDIC get raised to $ 250,000 when they asked for $ 150 billion a week ago and claimed they were broke because of the bailout of INDYMAC? If $ 700 billion was a shock and it would not pass, why then would even
a larger bailout pass? Just does not make any sense at all. I questioned the same when congress passed a new budget which was even larger than last year's. No wonder, we have incompetent people at the helm.

The only way the bailout could work for tax payers is if the assets are purchased at a bargain rate. The current market rate if very low: maybe 20 cents on the dollar. If the treasury overpay, then I would question the sincerity of the deal.

This is a very a sad day in America.

1. America is losing thousands of jobs each day
2. Americans are losing thousands of homes each day
3. America is bailing out the rich
4. America's leaders have turned their backs on their own
5. America is no longer beautiful
Greedy Politicians are making us suffer again...gee thanks!

Why can't the government act just like the debt collecting agencies do? Buy up the bad debts at say 50 to 60% of face value. This would give the investment firms some quick cash to continue in business at a lower level, whilst the government would be able to arrange new terms with the distressed mortgagees simply because they would be holding them at a bargain price. The decline in value would be felt by the treasury (tax-payer) when the investment firm writes off his loss as a bad debt, but that would have been even greater if the house had just been left to fall apart or had been sold at auction for a few thousand dollars.

Well, so much for "Change You Can Believe In" -- when Obama gasses about "ending" Bush policies, he means it in the sense of "completion".

"We're all in this together," my ass -- as Sam Spade says in 'The Maltese Falcon': "The cheaper the crook the gaudier the patter."

Can the public agree it tis time for a constitutional amendment for term limits for our elected officials. 2 terms for a senator, 3 terms for a congressman. Most of the problems occured during the the terms of McCain, Kennedy, Pelosi, Reed, Biden ,etc. If senority and experience mean we will be left to bailout another industry, then we need to start rolling over new leadership. After the saving and loan bailout talk of term limits became popular. But, when the memory fades so do the actions. Well, here we are again bailing out another industry. We need to change leadership. One solid way to do that is limit the term in office.The job of career politician sould not exist. Most of our problems have occured with senior members in office. With time politicians seem to foget who they work for and why they are in office. I'm sure Duke Cunningham didn't start off as a bad public servant but, he endded up in jail. Seems like the senior republican senator from Alaska is about to end up doing time. William Jefferson, congressman from Louisiana has been in congress for more then 3 terms. Caught with $90,000 in his freezer from an FBI sting operation. The list goes on and on. This needs to end. We need to end the job title of "Career Plitician" on the national level. It has brought nothing but greef , again.

"I'll gladly pay you Tuesday for a hamburger today." -- Wimpy

Who needs Al-Quida when we have these SOB's as our leadership? They add $100 billion in tax breaks and call it a "sweeter rescue package" WOW thanks idiots. Since you'll "save " us 100 billion over the next 10 yrs we'll give you $700 billon now to maintain home and market prices at artificially high levels thereby costing americans many hundreds of billions more during the same time period. America has been taken hostage. Ron Paul looks better every day.

Who needs Al-Quida when we have these SOB's as our leadership? They add $100 billion in tax breaks and call it a "sweeter rescue package" WOW thanks idiots. Since you'll "save " us 100 billion over the next 10 yrs we'll give you $700 billon now to maintain home and market prices at artificially high levels thereby costing americans many hundreds of billions more during the same time period. America has been taken hostage. Ron Paul looks better every day.