Dollar Goes Down Along with Bailout Plan [View article]
The bailout rejection should not have been a surprise at all. Democrats did everything they could to sabotage it and blame the hapless Republicans. And McCain fell for the setup like a prize sap.
An economy based on hope and prayer is how we got in to this mess. All we need to do is follow the Constitution. It took 95 years for bankers and big government to wreck America. With freedom and a level playing field, the American people can fix the economy in a year or two. Are there any Austrian economists in the house?
Buffett's Big Bet: The Real Value of the Berkshire Investment in Goldman Sachs [View article]
I think the GS deal represents everything that has gone wrong with the "free" market. The politically connected big fish gets the sweetheart deals and Fed guarantees while everyone else gets gypped. What little "value" that was left in the common stock was just transferred to BRK.
Buffett's Big Bet: The Real Value of the Berkshire Investment in Goldman Sachs [View article]
The GS deal was just good politics. The Fed was willing to do anything to hitch the GS falling star to Buffet's rising star. Beyond the public deal, I'm sure Buffet got all kinds of secret guarantees from the Fed.
So much doom and gloom hyperbole! XLF hasn’t even dropped below it’s July 15th low like the bankers promised it wouldn’t. Bloomberg just reported that the liquidity rescue package that will save us is making good progress through Congress. Everyone in Congress agrees that something must be done so I’m sure whatever they come up with will work like a charm. Don’t worry, the Fed, Treasury, Congress, and Bush have the best interests of the people at heart. Remain calm. It will all soon be over…
Who Really Needs to Back the Bailout? [View article]
A little political musing... Democrats are not stupid. Sabotaging this bailout will hand the election to Obama. If it passes too soon and the economy seems to stabilize McCain may win. If it fails, central bankers will lose the control of the political system they have enjoyed since 1913. In January, Obama and Democrats may be in the position to remake the financial system any way that suits them. Welcome to the NEW, new world order.
Democrats are not stupid. Sabotaging this bailout will hand the election to Obama. If it passes too soon and the economy seems to stabilize McCain may win. If it fails, central bankers will lose the control of the political system they have enjoyed since 1913. In January, Obama and Democrats may be in the position to remake the financial system any way that suits them. Welcome to NEW, new world order.
This definition clearly shows that Capitalism in America has been dead for for many decades...
From Capitalism.org:
"Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned. Under capitalism the state is separated from economics (production and trade), just like the state is separated from religion. Capitalism is the system of of laissez faire. It is the system of political freedom."
It's Time for the Govt. to Spell Out the Risks of Not Rescuing Financial Markets [View article]
Bail out only the individual and married/joint U.S. tax payer. Only tax payer bank accounts, 401k, and pensions. Freeze U.S. tax payer losses immediately. The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded. Abolish the Federal Reserve. Abolish fractional reserve banking. Re-establish the gold standard. There is no reason why banks should be any more profitable than your local car wash. Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee. Max mortgage life will be 10 years, No interest greater than 7% on anything. The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Here is my draconian but Constitutional solution: Decentralize power.
Bail out only the individual and married/joint U.S. tax payer. Only tax payer bank accounts, 401k, and pensions. Freeze U.S. tax payer losses immediately. The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded. Abolish the Federal Reserve. Abolish fractional reserve banking. Re-establish the gold standard. There is no reason why banks should be any more profitable than your local car wash. Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee. Max mortgage life will be 10 years, No interest greater than 7% on anything. The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Housing Collapse Caused the Current Crisis? [View article]
Here is my draconian but Constitutional solution:
Bail out only the individual and married/joint U.S. tax payer. Only tax payer bank accounts, 401k, and pensions. Freeze U.S. tax payer losses immediately.
The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded.
Abolish the Federal Reserve.
Abolish fractional reserve banking.
Re-establish the gold standard.
There is no reason why banks should be any more profitable than your local car wash.
Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee.
Max mortgage life will be 10 years, No interest greater than 7% on anything.
The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Bernanke Gives Up on Reverse Auction Idea [View article]
Forget the dystopian predictions of “1984”, or 1950s Sci-fi predictions of flying cars, Moon bases, Mars bases, and utopian metropolises. 2008 will be remembered as the year that the 1979 comedy spoof Americathon became the king of prescient predictions of the future. Dump the Paulson bailouts! Lets get Jerry Lewis and throw a “Save America” telethon!
Dollar Goes Down Along with Bailout Plan [View article]
Looking for Hope [View article]
Buffett's Big Bet: The Real Value of the Berkshire Investment in Goldman Sachs [View article]
Buffett's Big Bet: The Real Value of the Berkshire Investment in Goldman Sachs [View article]
How Obama and McCain Would Fix Wall Street [View article]
We Stand at a Precipice [View article]
Who Really Needs to Back the Bailout? [View article]
Democrats are not stupid. Sabotaging this bailout will hand the election to Obama. If it passes too soon and the economy seems to stabilize McCain may win. If it fails, central bankers will lose the control of the political system they have enjoyed since 1913. In January, Obama and Democrats may be in the position to remake the financial system any way that suits them. Welcome to the NEW, new world order.
Another Day Without Precedent [View article]
In Defense of Capitalism [View article]
From Capitalism.org:
"Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned. Under capitalism the state is separated from economics (production and trade), just like the state is separated from religion. Capitalism is the system of of laissez faire. It is the system of political freedom."
Bailout in Installments Is Still Nonsense [View article]
Don't Panic [View article]
It's Time for the Govt. to Spell Out the Risks of Not Rescuing Financial Markets [View article]
The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded.
Abolish the Federal Reserve.
Abolish fractional reserve banking.
Re-establish the gold standard.
There is no reason why banks should be any more profitable than your local car wash. Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee. Max mortgage life will be 10 years, No interest greater than 7% on anything.
The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Academic Economists vs. Paulson [View article]
Bail out only the individual and married/joint U.S. tax payer. Only tax payer bank accounts, 401k, and pensions. Freeze U.S. tax payer losses immediately.
The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded.
Abolish the Federal Reserve.
Abolish fractional reserve banking.
Re-establish the gold standard.
There is no reason why banks should be any more profitable than your local car wash. Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee. Max mortgage life will be 10 years, No interest greater than 7% on anything.
The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Housing Collapse Caused the Current Crisis? [View article]
Bail out only the individual and married/joint U.S. tax payer. Only tax payer bank accounts, 401k, and pensions. Freeze U.S. tax payer losses immediately.
The IRS will be abolished and over 20 years, every dime of income tax they have collected since 1920 will be refunded.
Abolish the Federal Reserve.
Abolish fractional reserve banking.
Re-establish the gold standard.
There is no reason why banks should be any more profitable than your local car wash.
Bank depositors will voluntarily make their deposits available for lending from 5% to 7%. The depositor will collect the monthly interest and pay the bank a fee.
Max mortgage life will be 10 years, No interest greater than 7% on anything.
The major goal of this plan is to stop the plundering of Main street by Wall street, Washington and international bankers.
Bernanke Gives Up on Reverse Auction Idea [View article]