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
- 1
- 2
Thrift Is the New Fashion
Email To A Friend
Please fill in the following information and we'll email this link.
Time was, national crises stimulated saving. Whitehead notes that during World War II, the savings rate soared to 25 percent, as the government, "partnering with the leaders of civil society, actively stressed the importance of saving for the war effort while also providing a specific new savings tool, in the form of war bonds."
But thrift today has a negative connotation—miserly, penny-pinching, no fun. Here, too, we need to go back to the future. "The goal of thrift is not to cut back or scrimp and save, but rather to enjoy the good things in life," says David Blankenhorn, president of the Institute for American Values, and author of "Thrift: A Cyclopedia," a charming compendium of musings and quotes on the many virtues of thrift, going back to Benjamin Franklin's "The Road to Wealth."
Is there any reason to think we'll recover our lost sense of thrift in this economic crisis? Perhaps. The baby boomers, champion consumers who had counted on appreciation of their homes and 401(k)s to ensure a golden retirement, will have to start saving more. Policy changes—government matches for low-income savers, lottery offices where people can purchase savings tickets—might help. But profligacy and spendthriftness have also been part of our cultural inheritance. The most compelling character in the greatest American novel, "The Great Gatsby," makes a pile of money and then squanders it spectacularly. For every Warren Buffett, patiently building a down-to-earth fortune by purchasing stocks with hard-earned money, there's a Donald Trump, impatiently building glitzy over-the-top towers with cash borrowed from others.
© 2008
- 1
- 2
Discuss