Comments on: Stocks Mixed In Wake Of Mortgage Bailout

Federal Reserve, Treasury Department Hoped To Boost Investor Confidence In Mortgage Giants

[smirk5]

Phil Gram in 1993 talking about the Clinton tax increase that resulted in huge growth, millions of new jobs and a balanced budget:
"...if we adopt this bill the American economy is going to get weaker and not stronger, the deficit four years from today will be higher than it is today and not lower ... When all is said and done, people will pay more taxes, the economy will create fewer jobs, the government will spend more money, and the American people will be worse off."
This is the guy that McCain decided to make his economic guru. That is, before McCain flip-flopped and decided to toss him under the bus.

[whitemale08]

So, it doesn''''t matter what the Fed does about the mortgage industry. Bringing the high-paying jobs back from overseas and creating industry is the only thing that''''s going to save this country.


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Posted by shanev137 at 02:50 AM : Jul 14, 2008-

WoW very well said in response...

I''m off to bed for now.

[shanev137]

"I really think at the end of the day the government will step in, the marketplace will step in, the housing market is just not going to stop functioning in America, that''s just not going to happen,"

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Wanna bet?

In the end, the bottom line is that decent jobs need to be created to allow people to afford the averaged priced home....and that''s not happening...especially with the recession kicking in now and businesses laying people off left and right.

It doesn''t take a rocket scientist to figure out that our whole economy is screwed blue and tattooed. You have food inflation and gas prices going to the moon, which slashes a massive amount of disposable income in family budgets, which causes people to stop spending, which causes businesses to go broke, which causes people to lose their jobs and their houses, which means less tax revenue for the government to bail people out with.

So, it doesn''t matter what the Fed does about the mortgage industry. Bringing the high-paying jobs back from overseas and creating industry is the only thing that''s going to save this country.

[whitemale08]

the goodness of mankind and somehow manages to adorn himself, his preacher folk and right wing fascists friends as the only ones worthy to lead an otherwise sinful humanity. These people are sick to the core where therein no soul resides.


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Posted by l8c6 at 02:36 AM : Jul 14, 2008-

I hear ya bro. And we have to knock off these stupid blowhard patriotism pastors that preach patriotism non-stop like Glenn Beck and junkyard dog Sean Hannity.

It''s disgusting how for years they kept preaching this gospel nonsense about how America is prosperous because we "borrow" and "spend". And that prowess to borrow and shop for what ever we wanted at the mall was an answer back to the "terrorists".

Have you heard any such diatribe sound so silly?

We have to go after these clowns too even if it takes the "fairness doctrine".

[oneworldusa]

Good to finally see some professional and thoughtful banter on CBS boards.

I hate to see feds rescue corps, but perhaps this is one time it may be truly, truly necessary regarding Fannie and Freddie.

[l8c6]

So if we want to solve this problem then smart people like you and I have to come together and look under the hood of this economy and reject any ideologies that promote monopoly, fuedalism, serfdom, oligarchy and monarchy nonsense. It''''s that simple.

Posted by whitemale08

We the masses need to start funding and supporting our own think tanks and yes, very intelligent and wealthy people are not in favor the the totalitarian right wing global "free trade" bas*tards who are a threat to people everywhere.

Free trade is privatized global corporate unaccountability to the communities they exploit and the democracies they destroy.

McCains little helper, Carly Fiorina, a right wing zionist corporate raider, raper and pillager. She failed and walked off with a huge chunk of HP''s assets. The employees of these companies are treated like objects of exploitation. Right winger neo con global corporatists are satan on earth dressed to the nines.

That ignorant faux religious zealot Mike Huckabee, check out his videos where he denounces the goodness of mankind and somehow manages to adorn himself, his preacher folk and right wing fascists friends as the only ones worthy to lead an otherwise sinful humanity. These people are sick to the core where therein no soul resides.

[whitemale08]

by "laundering" the money, people don''''t notice it as quickly, so the inflation occurs at a slower rate. But, that''''s all that they''''re doing, and it isn''''t fixing anything.


Posted by omded at 02:18 AM : Jul 14, 2008-

You''re somewhat on track but have you ever asked yourself who are we paying the interest to?

If you say its the government then you''re wrong because then we would be automaticly paying off any debt incurred by printing in the first place.

If you say it''s to the founding families of the founding member banks of the Federal Reserve System then you might be on to something.

If you say it''s to bank depositors, you''re still wrong because the interest paid on savings is purposely and significantly less then what''s charged on loans.

Think about it?

[harpoot]

Bail out the filthy rich at the expense of Joe Taxpayer. All too common a theme. Alas, the brain dead voters won''t change a thing. They''re so used to bending over they''ve become stuck in that position.

[whitemale08]

much more so a very plausible thought provoking presentation of what we are facing as a humanity.


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Posted by l8c6 at 02:09 AM : Jul 14, 2008-

You could be right about him. All I know is that the financial crisis that we are facing now was engineered long ago.

The financial system which we live under was designed for the purpose to privatize profits and to socialize risk and losses.

Just take a look at the bond market and I talked about this in earlier posts but if Britney Spears fails to sell any records in her next album, who pays for the losses? We do through our pension funds who partially own her publicly traded major record label.

So if we want to solve this problem then smart people like you and I have to come together and look under the hood of this economy and reject any ideologies that promote monopoly, fuedalism, serfdom, oligarchy and monarchy nonsense. It''s that simple.

[omded]

The Federal Reserve is just a huge, government sponsored money laundering racket. The government is printing more money head-over-heels, and it needs a way to slip it into circulation without anyone noticing what they''re doing. So they print the money, and "loan" it out to the banks. It gets into circulation, and nobody stops to realize that there are a lot more dollars in circulation than there ever used to be. This leads to only one thing: inflation. But, by "laundering" the money, people don''t notice it as quickly, so the inflation occurs at a slower rate. But, that''s all that they''re doing, and it isn''t fixing anything.