Yes, It’s A Wreck, But We Can Fix It

I believe two things would tremendously help the economy back onto it's feet: 1) Stop laying people off and hire people. Most companies laying people off are still posting profits each quarter, USE THEM. 2) Bring jobs back from overseas. Bring back help desk and manufacturing jobs to Americans, bring money back into America. Then, and only then, will there be money to spend in America.

Paulson is a train wreck happening as we speak!! Helping ease credit will not work when people have no jobs to get credit. We need jobs; jobs create wealth and spending and borrowing. Without them, all the money being issued to prop up our economy only, as usual, helps the affluent!! Asking them to borrow, when they have no means to pay back is like asking a bull to step inside a china shop and expect no damage. This is NOT rocket science; it is common sense, which unfortunately Mr. Paulson nor anoyone associated with this administration and this plan, is purely lacking!!! PEOPLE NEED A HAND UP RIGHT NOW; PEOPLE NEED JOBS TO RENEW THEIR PRIDE, TO SAVE THEIR HOMES, TO PURCHASE!!! tHIS IS THE ONLY THING THAT WILL BRING US BACK, NOT ASKING US TO BORROW MORE!!!

Please investigate this idea to help American. A straight fix is better than working all around the problem. To create main street jobs, have middle Americans to put money back into the economy, and get rid of fear, will be to stabilize the American people first. Could this work ? A stable home could stimulate the economy. Instead of working all around the problem, The government should use taxpayers money directly on the taxpayers by paying off our mortgages to be paid back to us taxpayers with little or no profit at first. Start by fixing the root of the housing crisis will implode new money as well as bailout money into the economy at the same time. Free American families from the threat of becoming homeless will have Americans ready ,willing, and most of all able to help our economy out of crisis. Middle class and upper class united will be a blessing for the American economy. Freeing up cash to spend is better than trying to freeing up credit to charge, because, the misuse of credit is the problem. 911 has proved that we all are Americans and we will come together for the greater good of America because we all know that together we stand, and if we stay divided we will all keep falling. Even the wealthy can lose parts of their American dream. Our government MUST invest in the American people ,in turn, the American people WILL invest back into America. When everyone unite for a common good you get results. We MUST stop giving presidential power to the industries to help Americans. The power of America belongs to WE THE PEOPLE OF AMERICA. In return we can install solar panels, buy hybrids , conserve energy, create jobs, and invest in our American economy while being lead toward a unified America . Industries are getting taxpayers money to help us, but they are mostly helping themselves. Let's take the straight and narrow fix. Taxpayer money to taxpayer mortgages. This will pay only principal money, and banks only lose the rest of the interest. Homeowners in trouble due to the fault of the economic meltdown still owe the principle but at 1% for 3 years and in return we will be able to buy things, not charge things, to turbo charge the economy . banks will be saved because they will get their money back, and jobs will return because we have a demand for services again. To be productive, please add ideas that could help even more americans. we have to start somewhere. Be constructive not destructive and pass it on for more construction THANK YOU!

PLEASE VET THIS IDEA TO HELP AMERICA BECAUSE A STRAIGHT FIX IS BETTER THAN WORKING AROUND THE PROBLEM. TO CREATE MAIN STREET JOBS, HAVE MIDDLE AMERICANS TO PUT MONEY BACK INTO THE ECONOMY, AND GET RID OF FEAR IS TO STABLIZE THE AMERICAN PEOPLE FIRST. COULD THIS WORK ? A STABLE HOME COULD STIMULATE THE ECONOMY. BECAUSE THERE IS A LOT OF MONEY BEING USED ALL AROUND THE PROBLEM. LET THE GOVERNMENT USE TAXPAYERS MONEY DIRECTLY ON THE TAXPAYERS BY PAYING OFF OUR MORTGAGES TO BE PAID BACK TO US TAXPAYERS. THIS START FROM THE BOTTOM WILL INPLODE MONEY INTO THE ECONOMY THE SAME DAY. FREE AMERICANS FAMILYS FROM THE THREAT OF BECOMMING HOMELESS WILL HAVE MORE AMERICANS WILLING AND MOST OF ALL ABLE TO HELP AMERICANS HELP OTHER AMERICANS UP, WITH THE PASS IT FORWARD PRINCIPLES. MIDDLE CLASS AMERICANS WILL TAKE TRUE PRIDE IN SHARING IN THE FIXING OF AMERICAN PRIDE ALL OVER THE WORLD. SOME UPPER CLASS ARE ABOUT ME BUT MIDDLE CLASS AND EVEN SOME UPPER CLASS IS MORE INCLUSIVE OF EVERYONE IN AMERICA TO OWN THIER OWN PEICE OF AMERICAN PRIDE. FREEING UP CASH TO SPEND IS BETTER THAN TRYING TO FREE UP CREDIT AND THEY STILL DON'T CARE TO HELP AMERICA EVEN WITH ALL THE HELP THEY HAVE RECIEVED FROM AMERICA. JUST ASK US AND WE WILL DO ANYTHING FOR AMERICA WHEN WE CAN LIKE, INSTALL SOLAR PANNELS, BUY HYBRIDS , ORGIANIZE US ALL TOWARD A COMMON UNITFIED AMERICA .

Honestly, looking at McCain and Obama objectively (without any party affiliation or any racism) I really can't see why anybody would vote for McCain. Obama has offered a much more coherent plan to get America out of the economic disaster we are in.

Right now, most people are anxious about the economy, fearing the worst but hoping for the best.

Reality check: within 18 months YOU could be standing in a bread line. That's how bad it really is. And Obama will work actively to prevent this short term, as well as make us strong again long term. As much as I like McCain and admire his patriotism, he really is not up for the job, not now with the global markets falling apart.


Obama's economic plan can be found at:

http://www.barackobama.com/issues/economy/index.php

http://www.youtube.com/watch?v=iivL4c_3pck

2001 Chicago Public Citizen Radio Interview criticizing the Warren Court as not radical enough for not pursuing redistribution of wealth.

Says that community organizing is for the purpose of assembling the political power to force redistribution of wealth.

The Kennedy tax cut.

http://www.heritage.org/Research/Taxes/bg1765.cfm

About half way through the article.

"President Kennedy proposed massive tax-rate reductions, which were passed by Congress and became law after he was assassinated. The 1964 tax cut reduced the top marginal personal income tax rate from 91 percent to 70 percent by 1965. The cut reduced lower-bracket rates as well. In the four years prior to the 1965 tax-rate cuts, federal government income tax revenue--adjusted for inflation--increased at an average annual rate of 2.1 percent, while total government income tax revenue (federal plus state and local) increased by 2.6 percent per year . In the four years following the tax cut, federal government income tax revenue increased by 8.6 percent annually and total government income tax revenue increased by 9.0 percent annually. Government income tax revenue not only increased in the years following the tax cut, it increased at a much faster rate.
The Kennedy tax cut set the example that President Ronald Reagan would follow some 17 years later. By increasing incentives to work, produce, and invest, real GDP growth increased in the years following the tax cuts: More people worked, and the tax base expanded. Additionally, the expenditure side of the budget benefited as well because the unemployment rate was significantly reduced.
Using the Congressional Budget Office's revenue forecasts (made with the full knowledge of the future tax cuts), revenues came in much higher than had been anticipated, even after the "cost""of the tax cut had been taken into account. Additionally, in 1965--one year following the tax cut--personal income tax revenue data exceeded expectations by the greatest amounts in the highest income classes.
Testifying before Congress in 1977, Walter Heller, President Kenned''s Chairman of the Council of Economic Advisers, summarized:
What happened to the tax cut in 1965 is difficult to pin down, but insofar as we are able to isolate it, it did seem to have a tremendously stimulative effect, a multiplied effect on the economy. It was the major factor that led to our running a $3 billion surplus by the middle of 1965 before escalation in Vietnam struck us. It was a $12 billion tax cut, which would be about $33 or $34 billion in today's terms, and within one year the revenues into the Federal Treasury were already above what they had been before the tax cut.
Did the tax cut pay for itself in increased revenues? I think the evidence is very strong that it did."

Hey look, a puppy! The Wizard of Oz: Pay no attention to the man behind the curtain!

Having driven the buss over the cliff with us in it, the Rs want us to worry about "that one".

"Nowforthetruth", Fannie and Freddie paid many millions of dolllars while the Rs were in control of the executive and legislative branches, lobbying Rs only, to prevent regulation of the financial practices that caused the global financial crisis. One of the recipients of those millions is Rick Davis, McC's campaign manager, who Freddie paid while Davis managed McC's campaign.

And Freddie donated $250k to the R convention.

These facts are everywhere in the legitimate news. You can start at http://www.nytimes.com/2008/09/22/us/politics/22mccain.html and http://www.newsweek.com/id/164732/page/1 There's much more legitimate news on this.


That's right "Nowforthetruth", it was the Dems' fault!

I was a solid McC supporter and voter until I found out about who paid whom millions to be allowed to loot our economy, and until I realized how extensive and virulent is the R propaganda machine.

Ken Peterson, a 40 year republican

Obama in this video, addressing his work with ACORN litigation relating to the community reinvestment act and the failure of Freddie Mac and Fannie Mae, as they relate to the current real estate and financial crisis, states that, and I quote:

"Subprime lending started out as a good idea, helping Americans buy homes who previously could not afford to. Financial institutions created new financial instruments that could securitize these loans, slice them into finer and finer risk categories, and spread them out among investors and around the country, as well as around the world. In theory, this should have allowed mortgage lending to be less risky, and more diversified."

He further states:

"The original idea was a good one, which was, lets see if we can distribute risk more broadly, and make it easier to provide loans to people who otherwise might not be able to get one."

Listen for yourself. You cannot dispute the mans on words recorded live:

http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related

Obama in this second video is campaigning at a convention of Acorn and I believe two other "Community Activist" organizations. Ask if he will be their ally if he becomes President, Obama says, quote:

"Yes, but let me say that before I even get inaugurated, during the transition we are going to be calling all of you in to help us shape the agenda. We're going to be having meetings all across the country with community organizations so that you have input into the agenda for the next presidency of the United States of America."

See and hear it for yourself. Obama promised that Acorn and other groups like it will setting his agenda if elected:

http://www.youtube.com/watch?v=8vJcVgJhNaU
See also: http://www.newsweek.com/id/164972
Stating that Gramm-Leach-Bliley Act wasn't what caused the meltdown, and noting that "economists on both sides of the political spectrum have suggested that the act has probably made the crisis less severe than it might otherwise have been."
See also:
http://boards.msn.com/MSNBCboards/thread.aspx?threadid=808692&boardsparam=Page%3d2

Below is a link to C-SPAN video clips of the Congressional hearings at roughly the time McCains attempt at S.190. to fix Fannie and Freddie. See for yourself who said what.

http://www.youtube.com/watch?v=_MGT_cSi7Rs
See also
http://www.newsweek.com/id/164732 from this web site. (oops!) stating that Freddie Mac was spending tax payer money to target Republicans in 2005 who were trying to regulate Fannie and Freddies fraud. Democrats were not targeted, as the were all in the tank with Fannie and Freddie to kill the regulations. Hear that, the article admits that Republicans were trying to regulate Freddie and Fannie, and Democrats were trying to stop it from happening as a means to facilitate the Community Reinvestment Act.

Wealth redistribution! What nonsense! The Bush tax cuts caused unprecedented wealth redistribution, from the poorest to the wealthiest. We have the greatest upward concentration of wealth at any time since 1929! Letting the tax cuts for Bush's real constituency lapse just begins to return the wealth distribution back to where it was when we had prosperity. If the "masses" have nothing to spend, we get a depression, just like in 1930's.

If you look at the US as one large single business, bringing it into profitability would not be easy or quick.
The US has for many years had an outflow of cash much greater than its income largely due to the flow of cash to the Middle East for crude and to China and India for goods.
Dating from the time Nixon declared the US a "service economy" and with the
Republicans in office for 30 out of the last 40 years, the US has literally given away it ability to produce a saleable product that would have resulted in profitability.

The housing crisis is the end result of a stopgap economy that provided cash flow so people could think the economy was just fine. It wasn't and all the equity has now been drained out of it. The bailout will prop up prices for a short time but nothing more. And in the long run will only add to the problem providing cash for banks to lend so the consumers are further in debt, and again have zero equity.

Trade agreements are fine, an agreement to buy and sell, the problem is America sent their products to the trade partner to manufacture and became just a buyer with nothing to sell.
When we see the basis of the economy dependant on a workforce that is as much as 25% in the banking and real estate business, another 20% in government, 25% in health care. Then I guess we have nearly achieved the Republican vision for America, we have a service economy but still have nothing to sell.

28% of America is now below the poverty level, these are the people who did not heed Nixon's Reagan's and Bush's advise to get a degree and join the "service economy" they are the people who once worked in the now nonexistent manufacturing sector that once produced products for sale that supported the whole country.

Who "Joe the plumber" may be is not the issue, though it's easy to see why the Dems want it to be. That's because the real issue is what Obama's comments to him revealed about Obama. In the exchange with "Joe the plumber" we find out that Obama really is as radical as his early political acquaintances, Davis, Ayers, Wright, etc., and that he is into the failed economic policy of wealth redistribution. Obama's tax and spending plans alone would be bad enough, but add Reid and Pelosi to the mix, with the three of them controlling both houses of Congress and the executive branch without any effective restraint, and you have something that should causes concern even among moderate Democrats.
See Wall Street Journal: A Liberal Supermajority:

http://online.wsj.com/article/SB122420205889842989.html

And whether McCain won or lost the third debate is also not relevant. He succeeded in the first half hour to plant the seeds of a Reagan style wipeout. Reputable historians and economists overwhelmingly agree that the taxation imposed by Hoover and FDR, and the "stimulus" spending and public works programs of FDR, actually deepened and prolonged the Great Depression. It was the production demands of WWII that got the economy going again. And when the war was over, the economy promptly went into recession.

See e.g. http://www.cbsnews.com/stories/2008/10/03/opinion/main4499465.shtml
And
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

Point is, Obama's programs are to tax, and it does not really matter who he taxes, those taxes are going to be passed through the economy. He has to tax, because it is they only way he can pay for his massive social engineering experiments. Any first year economics student knows that taxation is a tool used to contract an economy experiencing inflation, because it reduces demand by reducing the amount of money individuals and businesses have to spend. It is contractionary, which is exactly what you do not want to do when the problem is that the economy is contracting already into recession. Like Hoover and FDR, Obama's plans will only make it worse for longer.

Look and listen for yourself. Hear Obama in his own words discusses his links to both ACORN and the mortgage meltdown, and praises bundling and securitizing mortgages by banks as a means to float loans to the poor. Never mind the link commentators point of view, just listen to what Obama says in his own words. A picture is worth a thousand words. Maybe more in the case of the last half of the second link.

http://www.youtube.com/watch?v=8vJcVgJhNaU

http://www.youtube.com/watch?v=Lr1M1T2Y314&feature=related

See also:
http://boards.msn.com/MSNBCboards/thread.aspx?threadid=808692&boardsparam=Page%3d2

This is a link to C-SPAN video clips of the Congressional hearings at roughly the time McCains attempt at S.190. to fix Fannie and Freddie. See for yourself who said what.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

The link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

And the link below describes how some Democrats in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN, a group Obama has a long association with. See:

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

PRESIDENTIAL DEBATE TO BE HELD SUNDAY AT COLUMBIA UNIVERSITY

The Free and Equal Elections Coalition (FREE) and the Columbia Political Union are pleased to announce that a Presidential debate will be held this coming Sunday, October 19th, 2008, on the campus of Columbia University.

ALL SIX of the Presidential candidates who appear on enough state ballots to acquire the 270 Electoral Votes needed to become President are invited. They are as follows (listed in alphabetical order by affiliation):

Constitution Party Candidate: Chuck Baldwin
Democratic Party Candidate: Barack Obama
Green Party Candidate: Cynthia McKinney
Independent Candidate: Ralph Nader
Libertarian Party Candidate: Bob Barr
Republican Party Can John McCain

The Columbia Political Union will present the debate from 8:00pm to 10:00pm in the Altschul Auditorium, located at 417 International Affairs Building. The debate will be moderated by Pacifica Radio's Amy Goodman, the host of "Democracy Now!". CSPAN will cover the debate, and live radio broadcasts are expected.

"The Columbia Political Union is committed to energizing political discourse on Columbia's campus," said Allon Brann, Columbia Political Union Publisher. "As a non-partisan organization, we work to provide students with opportunities to encounter and engage with political ideas across a wide ideological spectrum, and on a wide range of issues."

"It is with these goals in mind that we have organized this Presidential Debate: to give all candidates-- either within or outside of the political "mainstream"-- the opportunity to speak directly to students about their goals on the issues they deem critical for this country."

"We have invited all eligible candidates, and it is our sincere hope that all will participate, to ensure the substance and rigor of the dialogue which we believe is crucial at this time."

Certified letters officially inviting each candidate have been sent to the respective campaigns.

The Free and Equal Elections Coalition and the Columbia Political Union await the response from the candidates. All candidates' supporters are encouraged to contact the Presidential campaigns and urge them to attend.

The Columbia Political Union seeks to enhance involvement in the political process, domestic and international, and draw every member of the campus community into an ongoing discussion of political ideas.

FREE is a coalition of political parties, independent citizens and civic organizations formed to promote free and equal elections in the United States.

http://www.freeandequal.org/events.php?id=7

FREEDOM ISN'T FREE

The economy will start to recover just as soon as the elitist Corporate Capitalism is properly buried, and we see a "bottom up free enterprise system in place of it.
Not going to happen electing a republican as the article noted even the treasury secretary had no real concept of what was wrong or how to fix it.
The fact is the number of Americans now below the poverty level is 28% a number that has increased by millions of people every year since Bush took office,
And that tells you where the consumers the Bush Administration keeps looking for are, they are broke.

This bail out is a bad joke it is intended to keep a broken economic system going in the same direction for a few more months.
When a bottom up economic system is in place that includes the greater number of Americans then and only then will recovery begin.

It will not happen as long as the Republicans hold power they simply do not get it, and will continue to cling to the elitist concept of Corporate Capitalism even thought it is clear it doesn't work.

fix

The so called Financial Mess and Reasons for it; survived exposure for years, until the Energies Industry became a factor in the equation. Energies Co. sucked up all of the spending money of the Masses, The few ( owners of energy investments ) reaped Huge Profits, dividends, capital Cans, the masses loss there Homes, Retirement Plans, Other Investments. The Governments response was #1 to send a tax stimulate $300. plus putting money back, that the Energy Co " STOLE ". #2 Nationalize the Broke, Bankrupted Banks and Financial Co. ( the losers ) at the Masses expense .

The Administrations Past and Present along with the Media are in serious Denial, they have not once stated or reported, that the greatest Economy Stimulate would be the NATIONALIZE ENERGIES CO. The nonprofit Gov. controlled industry would Dwarf " the trillion $ bail out " and really a instant long time Economy

Omama was a terrorist- that didn't work. So he associated with terrorists, then he was a muslim...then he was a communist, now hes racist...

Now conservatives blast away that "he is a socialist" - without any reference that the current version of American capitalism is some how pure in form without any regard to the nations current crisis!

Skewd American capitalism has put us in the current economic situation!

The reality is all of us have been betrayed by those who claim to be fair and righteous capitalists!

The "neocons" have managed to make a mess out of our nation. And now their answer is the battle-cry ???Socialize the debt and privatize the wealth!???

Socialize the bank and mortgage bailout, socialize the federal debt, land programs subsidies for American ranchers with federal and state lands for pennies on the dollar, endowments for the wealthy,
create great federal expense and let the people pay for it!

In contrast, privatize sectors of war that are paid for by taxpayers for the Halliburtons of the world,
privatize prison systems, education systems, and privatize the most Christian of all human entities- health care. So that the few become wealthy while the masses wallow away from the denial of fair and just care.

The hacks of Neocon theology have has stabbed us in the proverbial back, right between the shoulder blades! In our heart that sustains and carry our lives and our families!

It is time to clean out the rats nest. Time again to pass the mantle onto another way of life. The pendulum is swinging back.
Capitalism on paper sounds great and wonderful. It was the politicians, the neocons in their convention and their lack of wisdom that mislead us against the greatest of all gifts- The U.S. constitution!
It was they who endangered capitolism/democracy!


We have learned the truth, conservatives decry socialism unless it benefits them!
The argument that Obamas' view of America is socialistic, is a desperate opinion.
And the conjecture that capitalism under current
GOP watch was a great time for our nation is non existent! Simply because it was not a great time!

THE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
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 ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
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 how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum 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 was the last to know somthing 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. Check out this link to the truth http://my.barackobama.com/keatingvideo
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 budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
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 are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ