Archive for September, 2008

It’s not Capitalism its a pyramid scheme.
September 30, 2008

The economy has been a complex pyramid scheme for some time now.

Let get back to the basics to save this country.

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Banks call loans early to try and boost cash reserves.
September 30, 2008

Banks have been calling loans early, at the first 31 days late moment, to try and flip and cash out their equity. Despite the fact that this leads to losses in the long term it boosts the cash reserves. Rather than waiting 15-30 years as the borrower pays back the loan and interest they are calling in the loans at the first sign of trouble and selling the properties at a loss. Because it adds more cash (an at loss sale at 50 cents on the dollar is still more cash than one months payment or many months payments for that matter.)

This is why Congress needs to help the small businesses that are in trouble. Not rely on the big banks to do so.

Bailout plan Fails to pass, Markets Plunge
September 30, 2008

The bailout plan failed to pass the house. Despite claiming the plan would pass, House Republicans didn’t back the bill. Many Democrats didn’t back the bill either. While Senator McCain took credit for joining the parties and rescuing the bill, the bill didn’t pass. So he rescued, I’m not sure.

The credit crunch continues. Maybe we need a simplified “New Credit” plan that will inject the needed credit to people that need it, rather than using money to buy “old, bad credit.”

Another mark to show the need for a new third party in America, maybe the “American Party” or “Reform” that could really put the country first and hold the other two sides accountable.

Nothing changes the fact that the economy needs an injection of credit, can we at least get that done.

Paulson worked for President Nixon so did Cheney
September 23, 2008

Treasury Secretary Henry Paulson worked for President Nixon. Dick Cheney worked for President Nixon.

Treasurer Paulson is asking for autonomy in has provided a 3 page plan to spend up to 1 trillion of our tax dollars with no accountability.

3 page plan, in your face autonomy, ties to Nixon, errr, Cheney, not sure about you but this sounds like the ingredients of another disaster.

Any bailout plan involving public funds should have accountability, oversight and ownership equity for the public. Country first anyone?

Sarah Palin brags of D in Economics Class (macro)
September 19, 2008

During her campaign for Governor of Alaska Sarah Palin bragged about 

getting a D in her economics class. Since we are in the worst economic times

since the combo of WW II and the Great Depression it is nice to see Senator McCain put country first with a D Economics student on board a heart beat away as they say.

I’m an undecided, independent voter and this news is troubling to me. College level Macro Economics is not rocket science and a poor mark in this class would show a general misunderstanding of the overall economy. Not to say she couldn’t have learned since.¬†

Of note, a student who gets a C or below in any Graduate level class will not qualify for a masters degree. So we can be certain that Senator Obama graded B or better at the hardest schools in the country.