Tag Archives: recession

Fear Mongering

http://news.yahoo.com/s/ap/20090205/ap_on_go_pr_wh/congress_stimulus_126

Times are tough and many of us know it.  We know it because we have friends and family who are laid off, due to the economic downturn.  And, everyone wants the economy to bounce back so our dear ones can go back to work.

However, President Obama’s knee jerk reaction to what is a cyclical downturn of the economy — something that happens over and over — is not going to fix the problem.  Spending tax dollars will NOT  stimulate companies to increase production nor encourage business to start hiring again.  Spending us into oblivion and a national debt that will never be repaid will only create more taxes which, in turn, depresses business. 

In a recession, it is important to lower taxes so business is competitive with the world economy.  Then, they can hire more people.  Once people are working again, they spend money.  In turn, businesses hire MORE people to provide the products that working people are asking for.  Just because we are in a dip in the road now does not mean that the road leads to disaster.

Through this stimulus (bailout) bill, Obama is trying to scare us into enacting more governmental programs and he is using the economic downturn as the stick.    He threatens dire consequences if this particular budget bill is not passed.  But, do we really need the foolishness that this bill encompasses?  Do we need to rebuild facilities leased by the government?  Do we need to create MORE governmental agencies, such as Universal Health Care?  Do we need to bailout industries that are outdated and uncompetitive?  Do we really need to pay more taxes so that someone else can decide where our money goes?

Even if you believe in bigger government, this stimulus bill is stuffed full of Lieberal programs!  It was meant to boost the economy, but the first bailouts have had little effect.  Democrats have succeeded in frightening people into believing that we are heading into disastrous economic times and they use this fear to try to hustle an unread, undiscussed bill with enormous consequences through Congress.  The President would have us believe that there is no time to discuss the bill, much less read it!  Considering that the bill is reaching toward the trillions, this is not only arrogant, but it is stupid.  The President and the Democrats exemplify politics at its worst.  

Obama should be using the presidency to boost morale and to encourage business, not follow the nonsensical Democratic theory of  spend, spend, spend.  And, if the Democrats won’t listen to reason, Obama must ride roughshod over his own party.  Otherwise, his calls for instantaneous passage of the stimulus bill is nothing more than fear mongering at its worst.

Attitude Adjustment Day

http://business.timesonline.co.uk/tol/business/economics/article5614520.ece

Politicians worldwide are looking for a scapegoat for current economic problems, but there are a gazillion causes for this recession.  Bad loans stemming from the Community Reinvestment Act were made to satisfy  Congress who wanted EVERYONE to have a home, whether they could pay for it or not because that bought votes.  Democrats in Congress smiled while Fannie Mae and Freddy Mac made extremely risky loans which yielded a ridiculously high  rate of foreclosure.  Unions were never satisfied with their “deal” with the company and continually demanded higher wages, greater benefits, and even more vacation!  And, yes, some CEOs were spending money for themselves that the company did not have.

The end result is that the market could simply not endure these costs when  profits were falling or nonexistent.  Foreign  competition was cheap and did not have to follow the same regulations imposed on American companies by Lieberals.  Everyone should have seen it coming because the debacle back in the 70s with the Savings and Loans was also based on faulty, unsustainable loans and business deals .  That time,  BANKS bailed the Savings and Loans, and Congress, out.  Of course, it didn’t cost the public tax dollars because the bailout came directly from banks who were never part of the problem.  But, so long as “someone” paid for it, Congress was happy.

This attitude of promising the moon to voters and then scampering to find the means to pay off the debt is so typical of Congress.  Congress never seems to understand that profit is not a dirty word!  Nor is the accumulation of wealth a sin although the current administration seems to think so. 

Some companies saw the upcoming problems and pleaded with the unions to make concessions or face bankruptsy of the company, but the unions refused.  Congress created much of the fiasco on Wall Street by, for example,  allowing  unhealthy mergers between financial institutions and insurance companies, without requiring oversight.  Congress allowed CEOs to  serve on many different company board of directors and this cronyism created unwise business decisions.  The government bailout of Detroit and Wall Street is the direct result of all these influences.

So, where do we go from here?  Well, first, Congress should accept responsibility for their stupidity and we should put limits on what and how Congress legislates.  Secondly, financial companies should ALL have to follow the same set of regulations if they are engaged in a certain business.  For example, banks are limited in where they can invest.  Any company performing banking functions should have to follow the same regulations, be under the same system of examinations, and have to maintain the same level of capital to assets ratio!

Thirdly, the public has to realize that individuals create wealth, not governments.  Everyone should plan, and WORK, for the benefit of their family.  Government should not be responsible for the expenses of individuals.  And, we have to get over the idea that someone else is to blame for our problems.  We allowed Congress to become a clutter of self-serving, money-hungry, and dishonest “servants”.  Yes, they were to serve us, but instead, they ended up serving themselves at our expense.

The only way out of this recession is to change the atmosphere of our country back to when individuals actively worked for their own good.  Democracy only works if individuals do their own part to keep the country vibrant.  Right now, there are too many being paid for by the hard work of others.  We need to change this attitude.  Years ago, schools used to reserve a day for teachers to regain their equillibrium.   I say it’s time for an attitude adjustment day in Congress and in our entire country!

Lagot Satire

This is a good 2-way article. I’m going to write this like I am a liberal. What’s funny about this is, liberals are going to go, oh yeah, he’s right. But convo’s are going to just be, wow libs suck.

Global warming started around 2001 when GWB cheated on votes and stole the election. Not only did he steal the election, but he’s been lying and cheating the American people since he took office. He started a recession as soon as he took office and he mastermined 9/11 in the 8 months he was in office. Also, instead of doing peace talks with Iraq, he had to cowboy in and start a war. Hillary and John Kerry were given false information that the president made up. Saddam really was a nice person, who took care of his people. Those torture chambers were put there by Rumsfield and Karl Rove so that Bush would look like he was right. Bush created hurricane Katrina because he hates black people. He is also an alcoholic and Rummy is a coke addict. These are the things I know to be 100% true, because someone told me to think like this.

Blame Bush.

-Mr. Knowledge