THE ECONOMY

Depression-Era Diary

Think times are tough? How one man survived the last Great Depression.

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  • Posted By: Nins @ 10/30/2008 2:55:28 PM

    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

  • Posted By: Mattyj2733 @ 10/30/2008 10:55:44 AM

    Nowforsomemoretruth needs a job! Vote for Obama and get him one!

  • Posted By: cloudburst @ 10/29/2008 12:18:22 PM

    Who are manipulating the market? Go to:
    http://seekingalpha.com/article/101952-obama-billionaire-supporters-are-causing-market-headwinds

  • Posted By: PacificGatePost @ 10/29/2008 1:23:37 AM

    More abuse of the taxpayer is coming.

    Congress didn't do its job, ... again.

    http://pacificgatepost.blogspot.com/2008/10/what-they-didnt-tell-us-about-bailout.html

  • Posted By: Nins @ 10/28/2008 7:45:43 PM

    Taxation is and always has been a redistribution of wealth. Once you recognize that point, the question is, how are we going to spend the money we raise in taxes?

    For the past 8 years, our tax dollars have gone to killing civilians in Iraq and giving big payoffs to Halliburton (co-incidentally owned by the Cheney family). And since there wasn't enough in the Treasury to do this in style, we borrowed money from communist China and ran up the national debt to pay for it.

    Like 80% of Americans, I am sick of this particular redistribution plan.

    Obama's plan reduces taxes on 95% of Americans. The other 5% of us (who make over $250,000 a year) can afford to pay an extra 3%. That extra 3% comes out to only $300 for every $10,000 they make above $250,000. It's not going to kill them. In fact, if you make over $250,000 a year, $300 probably doesn't mean much to you. The other source of increased revenue will be making corporations that ship jobs overseas pay a higher share of tax. Right now, these corporations pay a lower share than companies that keep their employees in the USA. No more incentives to hurt America. We all can agree with that.

    Obama promises to go through the Federal budget line by line and cut all the wasteful spending. He promises to have transparency, a website where you can go and actually see the real Federal budget, not the made for TV version you can access under Bush.

    Furthermore, Obama's economic plans will lead to a strong economy, an educated workforce, more American based jobs, affordable health care, and freedom from foreign oil. We will regain our position as a world leader, a nation that spreads democracy not with guns and threats, but with prosperity and diplomacy.

    How do I know this? I read Obama's Blueprint for Change. And I compared it to what McCain had to offer (more tax cuts for corporations and the wealthy, more wars, a really inadequate health plan, and the stated intention of overturning Roe v. Wade). You really should visit the websites of both candidates and read their platforms.

    http://www.barackobama.com/issues/

    http://www.johnmccain.com/Issues/jobsforamerica/

  • Posted By: tiredoflies @ 10/28/2008 6:01:06 PM

    Here is what McCain said in 2000: (source: New Yorker)


    ???wealthy people can afford more??? and that ???the very wealthy, because they can afford tax lawyers and all kinds of loopholes, really don???t pay nearly as much as you think they do.???

    The exchange continued:

    Young woman: Are we getting closer and closer to, like, socialism and stuff?. . .

    McCain: Here???s what I really believe: That when you reach a certain level of comfort, there???s nothing wrong with paying somewhat more.



    Here is what Sarah Palin said a few weeks before her VP selection: (source: New Yorker)

    Referring to Alaska revenue:

    So we share in the wealth when the development of these resources occurs.??? Perhaps there is some meaningful distinction between spreading the wealth and sharing it (???collectively,??? no less), but finding it would require the analytic skills of Karl the Marxist.


    What this shows is that their argument about spreading wealth is hogwash just to get elected.

  • Posted By: tiredoflies @ 10/28/2008 5:12:18 PM

    Fact:

    When people have more money to buy goods and services, business (and corporations) profit goes up.

    They also need more workers to produce.

    DEMAND SIDE ECONOMICS

  • Posted By: Nins @ 10/28/2008 4:48:26 PM



    Here's a video in which Obama discusses fiscal responsibility. Anyone who cares about the economy should see it.

    http://www.youtube.com/watch?v=5d4a6RNhCUo

    On this web page, you can calculate the amount of your TAX RELIEF under Obama's plan (This tax calculator is for personal income, not for businesses. Remember that if you itemize, your tax cut will be higher than what the calculator shows. However, Obama's new 1040EZ allows people to get credit for some itemizations without having to fill out the long form and schedules.)

    http://taxcut.barackobama.com/

    You can get even more information on Obama's economic policies from the Blueprint for Change.

    http://www.barackobama.com/issues/

  • Posted By: austin c @ 10/28/2008 4:25:30 PM

    Whoever wins the presidency will have to spend effort to pick up the pieces of huge mess of the economic meltdown due to subprime mortgage failures which amount to trillion dollars worth of toxic loans to financial institutions and as the foreclosure continues at a rate of near 10,000 houses per day, there is no ending in sight. Historically, it is well known that the subprime mortgage loans were started by the Community Reinvestment Act (CRA) passed by the Congress in Carter Administration, it is a kind of government sponsored welfare for housings. ACORN is known to have forced the banks to make reckless loans to low income people which is normally unacceptable for mortage loans , certain Bill Clinton cabinet members has loosen the restriction of subprime loans thus increasing the sizes of foreclosures and bad loans. This is a case of housing welfare in government gone wild under the influence of greed and deregulation, plus the creativeness of Wall street on the Credit Default Swap, which produces a global meltdown of financial system.

  • Posted By: tiredoflies @ 10/28/2008 12:54:10 PM

    . .What is going on this week from the republicans and their surrogates is their favorite game:

    . . . . . . ATTACK WITH LIES , DISTORTIONS AND FABRICATIONS.
    .
    It is their false innuendo, IT IS NOT FACT.
    .
    .
    Remember what McCain advisor Rick Davis said:

    IT DOES NOT MATTER IF IT IS TRUE IF IT WORKS
    .

    Would a better president be the one who can be the nastiest against their opponent?

    . . . or is it the one with the best policies for the future of America.

    MCCAIN WANTS YOU TO VOTE FOR THE NASTIEST.

    BECAUSE HIS POLICIES ARE THE SAME AS BUSHES POLICIES AND HE DOES NOT WANT TO TALK. ABOUT THAT.

    PERIOD.

  • Posted By: tiredoflies @ 10/28/2008 12:52:18 PM

    Do NOT forget:

    The republicans DOUBLED the National Debt in the last eight years. That is a $5,000,000,000,000.00 increase.

    There is where the spenders are.

    Remember, in 1992 the republicans were saying the same thing about Clintons policies as they are about Obamas now.

    And Clintons policies created the best economy of the last 50 years, CUT the National Debt and handed Bush a SURPLUS.

    Also, Obama has stated any new spending will be paid for with cuts.

    The republicans are in full fear mode now and do NOT want you to think about this.

  • Posted By: LVUONG @ 10/28/2008 10:26:47 AM

    No problems, Barack Obama can solve any international crises, as he has been tested, experienced, ready and always right, abosolutely right about everything, just like a savior or "Messiah," it may sound cult-like, but it is not... God bless America, Joe Biden or Michelle Obama, following the footsteps of Hillary Clinton, will be our president in the future. It is America's destiny, after all Barack Obama is a smoker, so he may get lung-cancer or throat-cancer anytime. Isn't she beautiful, absolutely gorgeous, as if the White House is built just for her?

  • Posted By: TruthForward @ 10/28/2008 7:51:57 AM

    Republicans have a serious dependency on the China money trough.

  • Posted By: TruthForward @ 10/28/2008 7:41:09 AM

    Taxes are a redistribution of wealth. We will always have taxes, grow up.

    How do you expect us to pay for wars, social services, corporate welfare, unemployment insurance, jails, foreign governments, terrorist hunting, etc. etc? Money don't grow on trees (just the paper, lol). America can stand on its own two feet.

    We can't keep doing what Bush does (borrow from China). McCain must step away from the China money trough! Step Away! Step Away!

    Yes! We! Can!

  • Posted By: Tea6 @ 10/28/2008 1:11:29 AM

    THE THEORY OF FREE TRADE IS LIKE THE THEORY OF FINANCIAL DERIVATIVES.

    BOTH THEORIES ARE ELEGANT AND LOOK GREAT ON PAPER, BUT THEY DO NOT WORK AS PROCLAIMED IN THE REAL WORLD.

  • Posted By: tiredoflies @ 10/27/2008 10:03:00 PM

    If this is about truth, McCain has been found to be lying by Factcheck.org numerous times. And worse than that, after they noted it, he has gone right on lying about the very same thing.

    Yes, this election should be about truth and NOT McCain's and Palin's lies.
    .
    .
    Rigjt now, with one week left, McCain is engaged in lying about his association with Bush.

    Because he is losing, he is pretending to be against Bush economic policies, which BY HIS ACTIONS, he has voted with for eight years.

    THIS IS ONLY BECAUSE HE IS BEHIND. HE WANTS TO DUPE YOU INTO THINKING HE IS ACTUALLY AGAINST BUSH ECONOMIC POLICIES.

    ARE YOU KIDDING ME?

    HE IS DESPERATE AND IS PANDERING FOR VOTES. THAT IS IT.
    .
    .
    Remember what McCain senior advisor Rick Davis said:

    IT DOES NOT MATTER IF IT IS TRUE AS LONG AS IT WORKS.
    .
    .
    McCain is trying anything now. Question is, Are you buying this desperate end of the game garbage?

  • Posted By: 40YearR @ 10/27/2008 9:29:34 PM

    Go to factcheck.org and see the entry at "Spread The Tax Hooey!" It refutes the tired old "Socialist" and "Redistribution" propaganda we continue to see at this site.

  • Posted By: Nowforthetruth @ 10/27/2008 7:58:07 PM

    Now there is proof. In the exchange with "Joe the plumber" Obama let it slip that he really is as radical as his early political mentors, Davis, Ayers, Wright, etc., and that he is into the failed economic policy of wealth redistribution. Now, an interview with Obama in 2001, mysteriously overlooked all this time by the main media outlets, proves this fact. http://www.youtube.com/watch?v=iivL4c_3pck

    Obama's redistribution and restitution 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

    Indeed, some democrats are publically saying as much. See Barney Franks comments on the news, including face the nation last week, stating essentially that Democrats in Congress intend to greatly raise taxes and go on a spending spree.

    http://www.youtube.com/watch?v=u1Mazjm_A5k

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

    See http://www.taxfoundation.org/blog/show/23617.html

  • Posted By: Nins @ 10/27/2008 6:48:36 PM

    Obama has 63 Nobel Laureates working on his policy team. They are developing a plan to push America back to the top. Who is responsible for McCain's planning? Americans would be shocked to find that Douglas Holtz-Eakin is the sole person responsible for planning McCain's policy for America's future. Holtz-Eakin is also McCain's economic advisor, filling two full time positions on McCain's team. How can one single man (an economist) be responsible for developing a viable technology plan for our future? Obama has an enormous pool of the most intelligent, talented men and women in America working for him. Soon, they will be working for US.

    And let's not forget that the McCain campaign spent more on Palin's makeup artist than it did on it's foreign policy advisor. When you pay your makeup artist DOUBLE what you pay your foreign policy advisor, it is time to start examining your priorities.

    You look just fine without makeup, John. And Sarah is young enough not to need any. So cut the crap, and start paying some good ECONOMIC ADVISORS so you can have a fiscal plan to present to America. We're in the middle of a huge global financial meltdown, and you are worried about hair and makeup? PLEASE start worrying about the middle class, John. Please.

  • Posted By: Nins @ 10/27/2008 6:20:35 PM

    Obama has 63 Nobel Laureates working on his policy team. They are developing a plan to push America back to the top. Who is responsible for McCain's planning? Americans would be shocked to find that Douglas Holtz-Eakin is the sole person responsible for planning McCain's policy for America's future. Holtz-Eakin is also McCain's economic advisor, filling two full time positions on McCain's team. How can one single man (an economist) be responsible for developing a viable technology plan for our future? Obama has an enormous pool of the most intelligent, talented men and women in America working for him. Soon, they will be working for US.

    And let's not forget that the McCain campaign spent more on Palin's makeup artist than it did on it's foreign policy advisor. When you pay your makeup artist DOUBLE what you pay your foreign policy advisor, it is time to start examining your PRIORITIES.

    You look just fine without makeup, John. And Sarah is young enough not to need any. So cut the crap, and start paying some good ECONOMIC ADVISORS so you can have a fiscal plan to present to America. We're in the middle of a huge global financial meltdown, and you are worried about hair and makeup? PLEASE start worrying about the middle class, John. Please.

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