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On life support…but is it intentional?

Posted by Jen B on Thursday, November 13, 2008 9:13:50 AM
If you would compare our current economic crisis to that of a patient in the hospital, I would characterize it as being on life support, while at the same time the doctor is blood-letting the patient. I think the biggest mistake this government made was bailing out anyone. Period. We need to let the market work; however, the administration and Congress in their infinite ‘wisdom’ decided to allow our Treasury Secretary to prick the American people’s pockets and let all the money run out. Welcome to the Weimar, everybody!

We are bailing out companies left and right. And what is even scarier is that the government is now taking stakes in all of these companies, banks, etc. This is called nationalism, and we are getting dangerously close to fascism. Think about it. We have all of these companies receiving federal money in exchange for stakes in them. And we will soon have a President in office that sees no problem in socialistic view points and centralizing government control over industries (the Big 3 Automakers). Not to mention the very, very liberal Congress that also has no problem having power over industry. We are marching towards fascism.

I think the America as we once knew it is gone. We are on a very slippery slope. If enough people don’t wake up, I fear we will slip off into something America has never seen on its shores. But it leaves me with the question of how did we get here? Was this intentional? (Think the SPP but on a bigger scale.) Common sense would dictate that you don’t pile on more debt to get yourself out of debt. It just doesn’t make sense. I understand the whole practice of ‘spending money to make money’; however, this isn’t money we have. We have printed close to $2 trillion in recent months. And now we don’t even know the total count because they’ve stopped providing information. Our government is not being honest with us. I know, I know that’s not a real big shocker. The biggest shocker is that these people forget that they work for US.

Our credit standing in the world is dwindling. We have calls from PM Brown in the UK and France’s Sarkozy for a ‘one world society.’ And our 44th President has already called himself ‘a citizen of the world.’ Not to mention the fact that he worked on school foundations that promoted the UN and Marxism. One central government? One world government? All of the pieces seem to be snapping together coherently. Will America lose its sovereignty completely? We must stay vigilant…

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Get in the ring and throw some punches...

Posted by Jen B on Friday, October 03, 2008 8:11:48 PM
First, let me just say that I enjoyed the VP debate last night. I think Sarah Palin did a great job. I know this might not mean much coming from one of those 'bitter clingers' in Small Town, Pennsylvania (sorry, not holding a gun right now), but I thought she did a fantastic job of holding her own. The only thing that I would say that is lacking in McCain's campaign is that they need to throw out more facts and punches towards Obama. Believe me, I don't need to tell you there are plenty of things to hurl towards Obama: policies, associations, votes, and judgments. (And please, I keep hearing about Obama putting forth legislation about Fannie and Freddie in the Senate. However, I don't recall this and I haven't been able to find evidence of this. So, why not ask the question?) But the thing that I can't understand is why the McCain campaign isn't going after members of Congress that were clearly involved in perpetuating the Fannie and Freddie debacle.
 
I didn't get to see the original airing of the O'Reily interview with Barney Frank, but I did get to see a snippet of it on the web. Thank you, Bill, for standing up and throwing a punch. Look, I'm just as angry that Republicans didn't push harder in the years they were in control of both Houses, but we have evidence that they did try to reform those GSEs. In contrast to that, we also have evidence of sitting Congressman that deny there was a problem with Fannie and Freddie.
 
So, why is the McCain campaign not highlighting these facts? Look, I understand he's trying to stay above partisan politics, but look these people had a job to do and they didn't do it. I'm not looking at political parties, I'm looking at the fact they failed to do what was entrusted to them to do. The ethics in our Congress is pretty much shot and the trust and faith of the American public in our government 'leaders' (and I do use the term loosely) are severly floundering. I mean how many of us would keep our jobs if we had a 10% approval rating.
 
The McCain camp needs to throw some punches. He doesn't have to distribute knock-out blows, but he needs to show that he is the true reformer and that he's fighting for the American people to make ensure and show that their trust is important to him and his administration. Sarah Palin does a good job communicating with typical Americans (remember, we're clinging to our guns and religion); perhaps, she should take up that fight and get a few jabs in on that front. She's considered a Washington outsider, so that would be an appropriate battle for her to take up.
 
Come on McCain get into the fight and throw some punches...just some thoughts.   
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Declaration of Solidarity

Posted by Jen B on Saturday, September 27, 2008 10:10:12 AM
What I think a true leader might say during this economic crisis:
 
My fellow citizens, this past week and the weeks to follow are ones that will go down in hisotry as either the moment that the United States of America fell apart and embraced socialism, or it will go down in history as our Nation's finest moment and greatest comeback. I believe that now is the time for solidarity. With this impending economic forecast that has been brought to us by the inability for partisanship to subside, and for country and its citzenry to come first, we must take a course of action that may not be the most pleasant, but I believe it will allow the counrty to regain its footing and restore it to the principles of which it was founded.
 
In our history, we have seen times of struggle and we have seen times of determination and great courage. Our American Revolution got the ball rolling with us breaking away from the most powerful empire on the face of the planet at the time. It was the ordinary people who took up the mantle of leadership and dissolved the hold of the British monarchy over our colonies. And in the 1860s, we had the Civil War that threatened to tear this nation apart, but fortunately the citizenry and the leadership of that time brought back the unification of our Great Nation. We have had World Wars that tested our fortitude, resilience, and character; however, we came together through the 'greatest generation' and fought for the freedom that is given to us by our Creator. Even a Great Depression couldn't hinder the American spirit and determination; America stood up once again.
 
Throughout all of our trials as a Nation, one thing has always remained constant and determined - it is the American People. WE THE PEOPLE go through our daily grind everyday and try the best we can to live our lives and build upon our successes and yes, even our failures. We depend upon our leadership to make the tough decisions with our best interests at heart and an ear to our voice. Unfortunately, many in Congress have been to busy keeping their jobs and lining their pockets that they forgot whose voice they are to be listening to - yours!
 
My fellow citizens, I have heard the frustration in your voice and I share it with you. WE THE PEOPLE must take our government back. So, I propose to you that I, in solidarity with you, refuse to allow a bailout to pass through our Congress. I believe it is in the best interest of this country not to give up on the free market and the prinicples that so many in our Nation's history have fought and died for. We are not quitters, we are Americans! Together we can overcome anything!
 
I won't lie to you, the road will be rocky. The next couple of years will be hard; but we can make it! We will experience very tough economic times in the near future. However, by not planning our economy on election cycles, I believe we can come through this and leave this country better for our children and grandchildren. We must take an action that does not leave future generations paying for our mistakes and mishandlings. We must take a course of action that builds upon free market principles that are strong when they are adhered to. WE THE PEOPLE must band together and begin the process of resolving our problems.
 
I propose that we lessen the capital gains tax to zero for the next three years, as well as lessen the corporate tax rate to 15% for the same amount of time. By doing this , business will inject more money into the system, which will help credit lending resume. This will also increase job opportunities throughout the U.S. and keep many corporations here. We will be more competitive in the world markets; and we will keep industry in this country. I believe this plan will work. Companies that do not practice good business should be allowed to fail. It is what capitalism is. It will allow you to succeed to whatever heights you can get to through hard work; but if you don't practice good business, it will allow you to fail. Companies must be allowed to fail. After the three year suspension of the capital gains tax and the decreased corporate tax rate, we will evaulate where to go from there according to market stability. Of course, if something would arise during the interim, we will take those events into consideration; but make no mistake, we must not add more debt to solve our debt and credit problems. It's just not common sense.
 
So, today I will pledge to you what our Founders pledged to each other when they signed their death warrants in the hot steamy July days in Philadelphia, Pennsylvania in 1776: "And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our Sacred Honor."
 
 
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Has anyone seen accountability? It seems to be lost...

Posted by Jen B on Monday, September 22, 2008 9:13:01 PM
Yes, Americans, we are now looking at a $2 trillion price tag with this new bailout. Not to mention the amendments that I'm sure will be added to this package to provide more aid to everyone and their cousin. Okay, so we're going to bailout the bad loans, etc. I do not like socializing anything, and I think that this will not keep us from falling to the bottom. I just think this will lessen the impact when we do hit bottom. I mean, where's the money going to come from? Oh, that's right the government is going to print more. Say hello to inflation and the devaluing of our dollar. But really, we need to hit a bottom so our economy can bounce back. But who is to blame for this metldown? 
It depends on the circles you run in; however, I think there is plenty of blame to shovel onto various people. But I'm not as interested in all of the 'blame game' as I'm that I don't want the same people in charge of the bailout that were responsible for the meltdown. Is it too much to ask for that we hold our leaders accountable? I've read quite a few articles and it has come to my attention that in the past seven years, the White House has warned numerous times that Fannie Mae and Freddie Mac needed to be reformed. If you want the list, go to Newsmax and look at the article about 'Bush's warnings about Fannie and Freddie'. So why did our Congress not act? Why did our Congress keep pushing for 'lower-income' housing when it's obvious some people shouldn't be in homeownership because they can't afford it? Why did our committee chairs leave a meeting with the Treasury Secretary and Fed Chair this weekend looking very sober and panicked?
 
Weren't these the people that were supposed to be overseeing the financial system, etc.? How can they be shocked? What do they do in Washington? I've been following the ups and downs of the economy for the past year or so. I'm tired of hearing how 'this administration has blah, blah, blah'; as I recall Congress has a part in our government too. Besides partisan bickering, what actually is achieved in the worm-hole of D.C. I call it a worm-hole because it seems like most politicians that go there lose common sense and integrity as soon as they walk in the door.
 
I don't know about the rest of you out there, but I would really like to see quite a few resignations in our Congress and other agencies.
Followed by investigations and perhaps some indictments. Unfortunately, while members of Congress were lining their pockets with contributions from the very financial firms that were manipulating their books so Execs could get their bonuses, we the American taxpayer have been getting ripped off and are now paying the price. I don't think these people realize that their antics and failure to see common sense, as well as economic soundness, could cost people their life's savings, jobs, etc. We as Americans deserve better in our leadership! It's time we step up and hold them accountable and demand better leadership in Congress, etc. If they can't provide it, we'll find someone else outside of the worm-hole come election time.
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Unelectable mixed with economics

Posted by Jen B on Saturday, September 20, 2008 8:25:30 PM
Last night, I took a break from watching everything that has been going on in the economy and the presidential race. I popped in my newly purchased "Glenn Beck: Unelectable" DVD. I had seen the show live in Harrisburg this past June, and I even took my liberal sister to the movie theater screening in July. So, I sat back and watched it for the third time, and I must say it was still funny. If you haven't seen it, I urge you to see it. Glenn is funny and witty. The first act basically is stand-up comedy about the presidential race, as well as comments on other things in the news, etc. But the second half is quite something as well. 
Glenn comes out as a candidate ready to appeal for your vote. However, he does something that no other politician does - tells you what he wants to do without any pretenses. He doesn't pander. He doesn't say all the things you want to hear, but instead the things that you need to hear. He often quotes the Founding Fathers and helps you remember all the great things this country has stood for in the past. It is an inspiring speech and one I would love to hear from an actual statesman running for office. I would vote for that candidate in a heartbeat. 
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I think we need to remember that this is the greatest country on the face of the earth. Yes, we have problems. But we should learn from those mistakes and correct our path. We don't need bailouts. We need leadership. We don't need more taxes (to be patriotic). We need people to stand up and perhaps tell us things we don't want to hear. I don't know about you, but I am really tired of being lied to.
 
I want to know why these people in the oversight committees didn't see these things coming. Why didn't our Congress (9% approval rating) act sooner on Fannie and Freddie, without aquiring them through a bailout? The government owes us a lot of explanations, and since we, the taxpayers, have purchased all of these companies, etc. I think we're entitled to the truth. I also think that if anyone has been found committing illegal acts they should be tried in a court of law. This is enough!
 
I want all of these morons to get off their high horses and start giving us answers. I don't want partisanship. I want the facts. And if everyone in Congress has to be investigated then lets get underway. I'm tired of them wasting my money. Aren't you? I have no problem giving money for infrastructure and the military. But all of these entitlement programs, as well as other wasteful expenditures have really ticked me off.
 
I just want a statesman who's in there to serve the people. And we deserve answers as to why our Congress isn't working for us.
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Let our market go free...

Posted by Jen B on Monday, September 15, 2008 9:31:34 PM
The biggest misconception is that the government needs to regulate financial systems and hold companies accountable for the decisions that they make. When in actuallity, if we would let our market go and be an actual free market, businesses wouldn't make the same decisions, which have now brought us to the bailout of Bear Stearns; the take over of Frannie and Freddie; IndyMac going under, and now Lehman Brothers (bankruptcy) and Merryll Lynch (sold to Bank of America, who also absorbed some of Countrywide). Next up on the list could possibly be Washington Mutual and I'm sure more to follow. But the most common thing I hear from co-workers, or just friends and people on the street: "Who saw this coming?" Actually, it depends where you get your news. And do you only rely on one source for your news. Not enough of us read about our economy and undertand it. We don't need to understand every aspect, but we need to know how the market is supposed to work; and not enough of us learn that lesson while we're in school. I took an economics course in college and it was one of the smartest things I ever did.(Although at the time, I felt it was a pretty boring class. But now I'm so glad I took it.)
 
We hear people blaming the current administration for failed policies; however, I believe it goes back even further than that. You can't introduce socialism into a captialist system and expect it to stay true to its original purpose/function. The pattern of the government bailouts began in the 1930s under Roosevelt (after the Great Depression - a great book to read is Amity Shlaes book "The Forgotten Man") and has continued ever since (with a few exceptions - Kennedy, Reagan, etc.). When businesses are pretty much guaranteed a blank check for failing what risk is there for them to stay within safe business practices. Let me put it to you this way: your the middle child of a family whose father and mother are both doctors. Your older sibling went out to start his own business with money that Mom and Dad gave him with the assurance that he needed to practice good business. However, along the way he didn't take his parent's advice and he ends up in debt because of poor decisions and over extending his credit. But when he comes to Mom and Dad, they give him the money to cancel out his debt. The eldest child gets a slap on the wrist and is told to make better choices. He goes through once again and makes more poor decisions. Now, the middle child sees this and realizes that while he too wants to start up his own business, he doesn't really have to make the right decisions because he knows that there's really no way he can fail. He can always come to Mom and Dad for the money if he makes the wrong decisions.
 
That is what has happened with a lot of our financial institutions. They have made horrible loans. I heard today (Glenn Beck Show) that some banks gave out something called 'Alt-A' loans that didn't require income or payback verification. How can someone get a loan if there isn't an income verification? These aren't practices of businesses who are worried about losing money because they knew that someone will be there to bail them out. We hear all the time that 'these firms are to big to fail'. Well, what about those Americans who take the risk of opening their own small business. Are you going to bail them out too? I don't see the federal government eager to help out 'Mom and Pop' stores that have been in business for thirty years and are now having financial difficulties.
 
If a business wants to take a risk, they'll have to assess if they can afford it and if they can they will take it. If not, then they'll have to hold off, or wait until they are in a position to be able to take that risk. But they have to know that if they take the risk and it doesn't pan out, then they won't have anything to fall back on. The fact is that in a Free Market there shouldn't be any bailouts and huge regulation systems. They only make the problem and practices worse. And if a business owner makes dumb decisions, perhaps they shouldn't have been in business in the first place. The market evens out and someone else that practices good business swoops into the market to fill the gap. If we free up the market, it will be difficult at first, but in the long run it will make the economy stronger and healthier. No more band-aids; we'll have stitches and eventually just a scar to remind us not to play the game like that again.
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Obama rethinks taxes

Posted by Jen B on Monday, September 08, 2008 1:41:05 PM
Okay, so today I’ve seen quite a few articles that describe Senator Obama’s rethinking of tax hikes. He qualifies it by saying that it’s only in the case of a recession being there when he gets into office. But doesn’t this go against his campaign’s logic? In his campaign, he has championed that he would repeal the ‘Bush’ tax cuts and then raise taxes on the ‘wealthiest one percent.’ He’s stated that they need to pay ‘their fair share.’ However, now he’s saying that he would be willing to keep the tax cuts on the ‘wealthiest one percent’ because he’s afraid of how it would affect the economy negatively, cost us jobs, and drive us into a deeper recession.

But following his logic in his newest statement, doesn’t that just prove that tax cuts are what drive an economy to healthier growth and prosperity. Doesn’t it say that when people are allowed to keep their own hard earned money they actually know how to spend it effectively? So, if keeping taxes low on the ‘wealthiest one percent’ is the best thing during a recession, wouldn’t it make sense to keep taxes low across the board when we’re in a healthy economy? Wouldn’t that take away the threat of a recession?

Here’s a link to the article I read this morning:

 
Just seems like common sense to me. Lower taxes means more money in the economy, creating jobs, creating products, and growth.
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