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6 Comments
U.S. Loses 159,000 Jobs in September: What Does this Mean for the Economy?
Oppose the Treasury's Bailout Plan
Now that we U.S. citizens are part owners of such illusory enterprises as AIG and Fannie/Freddie, I would like you to initiate a lawsuit on behalf of your FL shareholders/constitue... to obtain compensation for breach of contract by CEOs and CFOs who drew bonuses based on earnings that had to be restated.
The link below provides more detail.
www.bloomberg.com/apps...
Oppose the Treasury's Bailout Plan
The Honorable Dave Weldon,
Please oppose further intervention by the unelected Fed & Treasury during this financial crisis. Please oppose efforts that fix the symptoms of this crisis and not the causes. Please exhibit leadership to shift the debate to fix the causes of the crisis rather than addressing the symptoms making your decision around what happens decades from now rather than next week.
I believe the symptoms to be exorbitant social security & medicare/medicaid liabilities, any budget deficit, failure to invest public funds in ventures which have even a hope of yielding a public & appreciable, & and a palatable lack of moral courage to accept facts. The facts of the situation are the rich made loans to unqualified poor and the Treasury's current plan will have the moral middle class pay for those decisions. The US gov't must acknowledge the wealth destruction that has already occurred and let those directly responsible live with the consequences of their decisions to include the foreign investors, otherwise we will follow Rome and Britain in the destruction of their middle class & subsequent collapse in financial ruin. Acknowledging this wealth destruction will indeed cause credit market to seize up as is necessary. Debt needs to become harder to obtain in the US because that is the most effective way to transform this nation into once again being a producing rather than consuming nation which is a root cause of this crisis.
As an Iraq War veteran, I find it sad that while the Iraq war has cost us under $700B over the past 6 years, the FED/TREASURY has already spent $900B in the past 3 months. On that scale, this is civil war and I thought only congress could declare war.
The unintended consequences of further government intervention are private individuals withdrawing wholesale from the now seemingly state-run markets, wholesale buying foreign currency and international stocks along with gold/silver, & ultimately moving to another country as citizens will choose to not subject their children to this national debt.
Google, Trust and the Marketplace
Battle of the Building Material Makers: Owens Corning vs. USG Corp.
The Impending Mortgage Crisis
This is why I am long commodities and wealth creating enterprises. The only politically expedient way out of this housing crisis is the "stealth" inflation tax. Trading treasuries for bad mortgage debt, keeping interest rates low, and Americans especially gov't piling on debt breed this market discontent. The euphoria from the Fed's recent actions will soon give way to the fundamental reality that your $5 bill should say "legal tender for all debts or one gallon of gas". If it weren't for efficient markets where I could liquidate my RJI in a matter of minutes, there would be NO effective store & transfer of value. My new currency is a share of DBA, RJA, or GOOG.