Where is the US economy headed?

@okie,

We need adults running this country. Vote liberals out of congress. We need to reform our tax system, at least lower corporate income tax or do away with it altogether, so that we can bring manufacturing and as much business as possible back here from overseas. We need a solid immigration policy that is enforced, finally. We need oil, gas, wind, nuclear, solar, all of the above. Drill offshore and in Alaska. We need to quit listening to whacko tree huggers as the central theme of policy. We need to quit punishing success. We need to reform corporate laws, to make it easier for stockholders instead of rubber stamp boards to control compensation of management, so that boards of directors cannot rob companies to give to their fellow ceo friends. We need to get rid of the teachers union and the trial lawyers control of education and tort reform.

That would only be a start. Yes, we need change alright, and it is about opposite of the kind that Obama hints at.

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Quote:

J.P. Morgan Buys WaMu After U.S. Seizes Thrift
Deal Averts Need for Massive FDIC Payout

By Binyamin Appelbaum
Washington Post Staff Writer
Friday, September 26, 2008; Page D01

Washington Mutual, the nation's largest thrift, was seized by federal regulators last night and sold immediately to J.P. Morgan Chase for $1.9 billion, avoiding the need for a government bailout of depositors in the troubled company.

The deal was facilitated by the Federal Deposit Insurance Corp., which said there would be no payment from its insurance fund.

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/25/AR2008092503710.html?hpid=topnews

WaMu....RIP

NEXT!

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@hawkeye10,

No payment from its insurance fund? What ever happened to FDIC funds in this bank? They want to start a run on money in all the FDIC banks?

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@cicerone imposter,

calculation was the WaMu would cost the FDIC $30 billion, which they don't have. This sale was a way to avoid dealing with the FDIC's nearly empty accounts. I don't see how this sale is a bad thing for FDIC, though it surely will be for the employees.

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@okie,

As a neutral but critical observer i think4 more years are going to be wasted.
Ron paul is conservative anti war human is the best scavenger to dip into this deep sinking gutter to make it better.
But he has no chance,
among the two i prefer the young lawyer than the old pow

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@okie,

None is this forum are up against these two available or aspiring candidates.
Most of us are more informed than those pathetic persons.
I am happy
But your list is too long like Obama's change.( though you had differentiated with his change in your concluding sentense)
A radical rational revitalizing thought to curb the criminal corrupt corporate influence should be inculcated in the schools and not to learn Abcd or one plus one is two.
If i die the others willshed tears and i would say goodbye and namskar or danke with bewitching smile.

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@Ramafuchs,

Ramafuchs wrote:

As a neutral but critical observer i think4 more years are going to be wasted.
Ron paul is conservative anti war human is the best scavenger to dip into this deep sinking gutter to make it better.
But he has no chance,
among the two i prefer the young lawyer than the old pow

Fine, but I suggest you mind your own store. You can't vote here anyway, or at least I hope not, unless the Dems find a way to register you, perhaps through ACORN?

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@okie,

What's the matter, okie? You don't want people in other countries criticizing our country? You want to "restrict" that too?

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@cicerone imposter,

They can criticize all they want, but I do think thats as far as it should go, they should not try to influence elections here in any material way. I think there are laws against that, but of course we know lots of money comes from foreign sources, supposedly from U. S. citizens, but who knows anymore? I don't care that much who is elected in Germany, just in case Ramafuchs wonders about that.

1 Reply

@okie,

okie, They don't influence elections unless a voting citizen of this country votes with a gun behind their heads. Most citizens who do vote don't understand what they are voting for, and that includes you and me. The fear of "influence" is domestic, not foreign, for every voter.

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@cicerone imposter,

This may be big news to you, ci, but money influences elections.

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@okie,

No shite! Just how much did Rama contribute?

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@cicerone imposter,

Quote:

Most citizens who do vote don't understand what they are voting for, and that includes you and me.

That's one reason I don't vote and I can't understand anybody who doesn't know what they are voting for dragging themselves down to a polling station.

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@spendius,

spendi, There are studies on voters and how they vote; much of it doesn't have anything to do with the real issues of the day. As a voter, I know I have purposely voted for a woman over a man candidate in the past, because men have screwed up this country so badly. I may continue to do so in the future.

Forget Palin; she's a big exception to the rule.

1 Reply

@cicerone imposter,

Quote:

Forget Palin; she's a big exception to the rule.

I think I can manage that c.i.

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Quote:

Friday, September 26, 2008

Secretary of the Treasury Henry Paulson enters the Capitol for a late-night meeting with members of Congress including Senate Majority Leader Sen. Harry Reid, D-Nev., Senate Banking, Housing and Urban Affairs Chairman Sen. Christopher Dodd and House Financial Services Chairman Rep. Barney Frank, D-Mass., Thursday, Sept. 25, 2008. Associated Press.

A clock is ticking on Wall Street, and it will sound the alarm Tuesday when corporate titans like GE and Caterpillar must start rolling over their debts in stressed credit markets where financing has become difficult or impossible to find.

Major companies finance their day-to-day business, including salaries and rent, by borrowing for two or three months in the $1.7 trillion commercial paper market. Many of those debts come due Sept. 30.

But since the credit crisis intensified with the Lehman Brothers' bankruptcy last week, buyers have been shying away from the market and it has been rapidly shrinking - falling by $61 billion in the week ending Wednesday, the Federal Reserve reported Thursday. ...

http://www.washingtontimes.com/news/2008/sep/26/major-firms-on-wall-street-face-debt-deadline/

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@hawkeye10,

hawkeye, The market will remain volatile even after the bailout. The solutions being discussed is one dimensional where multiple dimensions should be addressed to fix this economy. It's called jobs, and not just adding money into the economy.

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@cicerone imposter,

CI, there are more than a few academic economists (ie not on the corporate class payroll) who believe that the bail-out as proposed would harm the economy, that it would be $700 billion spent towards harming the nation. My point of the last post however was to point out that if the cridit markets don't begin to thaw by mid week there will be serious problems for the corporations, as they can't roll over commercial paper at a reasonable cost. There will be an almost immediate wave of corporate bankruptcies, with-in 90 days I think.

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@hawkeye10,

hawkeye, IMHO the financial markets needed cash yesterday; just not the whole $700 billion in one shot. Congress can release some of the money now to relieve the liquidity problems so that small businesses and some corporations can meet their payroll. That "is" very urgent, but they must not rush into approving this legislation without some protections for the taxpayers.

1 Reply

@cicerone imposter,

Time to now kiss universal health care goodbye.

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Where is the US economy headed?

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