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If we don't need foreign capital why do we accept so much of it? Under your plan all profits generated by your "building of the manufacturing base" will be paid the foreign governments whose banks financed the process. Not to mention the workout fees for all those bankruptcies you proposed and the interest income from being able to afford risk ameliorated lending.
Trouble is, without that steady tax revenue from the banking sector, Uncle Sam as a hard time makng ends meet. After all Morgan alone as contributed more over the past decade or more than the entire auto sector combined. It would be interesting to see them Dubai domeciled.
That's the trouble with you lala land guys...always good at the spending, not so good at the funding. Which probably explains why you feel you ned the governement to pay for your health care, housing and food.
If the UAW gets violent just start shooting. Yes, I know they aren't worth the bullet but the National Guard guys will have fun with these bloated Union Fatboys."
Gosh. You are one heck of an economist.
ST
"Nothing for the poor.
Because they have been negligent and irresponsible.
Everything for the billionaires.
Because they have been negligent and irresponsible."
SearingTruth
A Future of the Brave
This is a good thing that Obama has done with GM, assuming he follows through. Quick Chapter 11, nullify union contracts, offer them $9/hr take it or leave it. If they leave it, just bring in the scabs at $12/hr.
If the UAW gets violent just start shooting. Yes, I know they aren't worth the bullet but the National Guard guys will have fun with these bloated Union Fatboys.
aziridine
Well, I guess if we're giving free cars and vacations to criminal billionaire thugs via their multi-trillion dollar bail out we could do it for the people also, but I wouldn't consider it critical.
And an American job is one held by an American in America, and don't worry about the Chinese, we need to immediately begin a ten year economic disengagement plan from them and stop giving them trillions of dollars to build an army to defeat us.
And a kid from Kansas couldn't possibly do a worse job than the "professionals" who have brought America to the brink of ruin.
And we shall regulate the financial industry so that it benefits Americans, which will require a combination of Capital, Risk, and Product based regulations.
And if foreign corporations want to remove their capital from US banks, great. We will reestablished our manufacturing base in America so we don't need foreign capital. America has far more than enough natural resources and high tech manufacturing technology to take care of ourselves.
In fact, the only people who "need" foreign capital are global billionaire thugs, who have forwarded a criminal and anti-American philosophy - the "Global Economy". Which is nothing less than their financial killing field.
Ah yes, America for Americans. Billionaire gangsters won't like it, but Americans will love it, and benefit from it forever.
And see, I didn't even have to call you names. Gosh I'm good.
ST
"It's as if a dam has broken, and instead of fleeing the water we keep building our cities higher in hope of escape.
Even as we are washed away."
SearingTruth
A Future of the Brave
-Forbid the outsourcing of American jobs, which is another key reason America is failing
-Heavily regulate and monitor our financial system so criminal billionaire thugs can never do this again. Posted by "Searing Truth"...seems more like "Blind Ignorance"!
__________________________________________________________________________
Wow...free Health Care, Housing and Food for everyone! Hmm..listen, why do we throw in a car for everyone and a free vacation once a year? Oh and don't forget free education too!
Now those "American jobs" you talk about....uh, just what is an "American job"? Would you forbid any American Coporation from having overseas or non-citizen employees? Maybe you could have a fe kids from Kansas managing Chinese sales for these companies? Doesn't sound feasible now does it?
Now how bout that financial regulation. What regulations would you propose? Capital Based? Risk Based? Product Based? Please tell us.
The funny thing about over regulating US banks is that it causes people to do their business at foreign banks. That's how the Eurodollar market started after the US tried to cap lending rates. Of course, the lending just moved overseas. Is that what you wanted?
You know, Searing Doofus, it's best to think before you post.
Pure and simple.
Banks are no more important, and are just as replaceable, as any other company. They just have a lot more money to bribe politicians with, and that is just what they've done.
We must face the fact that Obama is just as corrupt as any other politician, "bailing out" any corporation was a mistake in the first place, and doing so violates all principles of American capitalism and can never work.
So how do we get out of the mess criminal global billionaire scum, and corrupt Republican and Democratic politicians, have put us in?
Here's how. Let's just call it the SearingTruth American Recovery Plan:
1. Get as much of the trillions of dollars we gave away to billionaires back, as soon as possible.
2. Let all the failed corporations in America go bankrupt, so that viable companies can move in and clean up the mess.
3. Immediately implement universal health care for the people, and an emergency plan to shelter and feed us so we can weather the depression.
4. Implement fair trade, because "free trade" doesn't exist, and has helped to bring us to the brink of destruction. This means making trade agreements that benefit America, not China.
5. Forbid the outsourcing of American jobs, which is another key reason America is failing. And from now on any company that wants to move to another country may do so, and then never do business in America again without extremely high tariffs on their products or services.
6. Heavily regulate and monitor our financial system so criminal billionaire thugs can never do this again.
You see the difference? I'm for the average working American. Not the global elite billionaires, who are nothing less than sociopathic criminals.
Yep, Americans first, and global billionaires last. After all, they need us, while we can do fine without them.
ST
"Justice begins where we stand."
SearingTruth
A Future of the Brave
I look at this mess starting with the Savings and Loan deregulation of the 1980s. Replacing the S&Ls were the Mortgage Companies that had NO regulation at all. They had no loan origination standards, but wanted to off bundles of loans on others. This should never have been allowed to occur.
And yet, some of these same people are the first ones to criticize.
Posted by democracy1 at 6:31 PM : Mar 30, 2009
One mans trickle down is another's stimulus plan. Just depends on where the money comes from private sector or the Government, oh I meant Taxpayers.
Trickle down is they everything works. To deny it is to not understand the natural way of things. An example is I just hire a person, who in fact just rented an apartment and bought a used car. The Landlord is getting money, the used car dealer made a sale and money, all from my hiring this guy. In addition the Government gets taxes from him and me as well.
Now tell me that Trickle down is not the natural order of things. Go ahead.
But :
1) The liquidity of banks is of vital importance. With out that, no business would be able to function without credit. It is simply impossible. Think of the impact- any industry, from large companies to small. It would be like the big 3 going bankrupt times a million.
2) For banks to survive, they need to make money. To make money means you have to pay the talent a fraction of what they in turn make the companies. Yes, we have horrible examples of $35,000 toilets and bonuses that the average person can't figure out. But keep in mind, that is not every person at these financial institutions. Keep in mind the media is very good at blowing up small things when there are more important things to deal with. And keep in mind you can't penalize a few bad judgements by a CEO on all employees of a firm. The fact is life is not fair, and people just need to deal with the fact that certain people earn more than others.
3) The auto industry should not have been bailed out in the first place. That is my opinion. Fine if someone disagrees. Obama made a call, I don't agree. But I don't have to make that call... But an auto industry "failure" is only that they declare bankruptcy. They don't got out of business. They don't go away. It won't be good- but Chrysler has been here before... and has anything changed? Really?
4) And the finanical industry, while a huge "aiding and embedder", did not 100% cause the issues. Yes they should have been regulated better. Yes there were rules that were laxed. Mind you CLINTON laxed them. But whatever. Fact is that they were too lean on lending... but gee, who were they lending to? People who shouldn't have bought a large house? Who ignore reading loan documents and sign as long as the payments are good? Who kept refinancing their homes to get into more and more debt? In the age where Suze Orman is all over the place and there is free financial advice on the internet... some people need to accept some blame as well. Accountability. That's what some in our country lack. Go get a lawyer and sue... it wasn't your fault, you were brainwashed. Get real. Remember the big layoffs started in October... the mortgage issues began well before.
Posted by ubrew12 at 6:45 PM : Mar 30, 2009
Revoke the Gramm-Leach-Bliley Act and reinstall the Glass-Steagall Act. Reinstitute "Trust-busting" policies.
The combination of deregulation, trickle-down and allowing companies to become "too big to fail" has created the perfect financial storm!