Thrift Is the New Fashion

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  • Posted By: Tea6 @ 10/27/2008 2:33:28 PM

    Make interest on savings, tax-free.

  • Posted By: NotSoBigMac @ 10/27/2008 1:49:18 PM

    Oh, well. I know a few, who have for years on end told people not to live beyond their means and save for a rainy day. Always was good advise, always will be. National economies may benefit temporarily from splurging, but the bills will come due. The answer? Years of inflation will make the debts a bit more palatable. Also make creating a business or buying a home a lot more expensive. So there you go.

  • Posted By: Tan Boon Tee @ 10/26/2008 11:25:51 PM

    For years, I have been advocating thrift ??? live simple and eat simple. Yet people opted to turn a deaf ear, and kept squandering the precious resources of earth and lead a life based on relentlessly excessive consumerism.

    NOW WHAT?

    First came the crazy soar of oil price, followed by the upsurge of food prices. Now we are dearly paying the toll. Any regret?

  • Posted By: bovoit @ 10/26/2008 11:29:45 AM

    Learn this, any moron can be president. The key to successful leader is the people he/she surrounds himself/herself with. Show me your company and I will tell you who yo are? Period.

  • Posted By: Nowforthetruth @ 10/25/2008 7:57:54 PM

    What do you really know about Obama's economic philosophy? Since he has never run a town, state or business, he has no record to look at. Oh, he has made lots of promises, but given that he broke his promise to be limited to public campaign funds, you cant put much faith in that, and there will be no means to keep those promises anyway.

    But you do know that Obama, along with his democratic buddies in Congress, personally and professionally advocated for a residential housing policy favoring forced sub-prime lending, which subsequently resulted in massive defaults and foreclosures, leading to your loss of significant equity value in your home, to the point that it destabilized your banks, which panicked the stock market, which wiped out your savings.

    Look and listen to Obama for yourself. Obama in this video, addressing his community activist work and his work representing ACORN in litigation against the banks and relating to the Community Reinvestment Act, and addressing the failure of Freddie Mac and Fannie Mae as those actions relate to the destruction of our economy by causing the current real estate and subsequent 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."

    Acknowledging the catastrophe, but as apologist for the Democrats, Obama then offers this justification.

    "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."

    Yah, great idea. Economically unsound, but embraced by Obama. Listen for yourself. You cannot dispute the mans on words recorded live:

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

    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

  • Posted By: Nowforthetruth @ 10/25/2008 7:57:44 PM


    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.

    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."

    In the exchange with "Joe the plumber" we found 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

    Their failed policies are what brought us to ruin. Even Bill Clinton says so. http://www.youtube.com/watch?v=XsynspIqAoE
    Obama and a supermajority of Democrats simply is not the change we need, nor is it change we can afford.


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