The Fall of the American Empire?
Most of you probably don’t care, but I am writing this anyway. Today, the 700 billion dollar bailout was shot down. I for one am extremely happy about it. I know that times are going to get hard for people in America, more banks will fall, credit will become nearly impossible to get, people will lose their homes and so forth - then so be it. It is only natural that this happen.
Failure is the only thing to keep the system honest. That is what America is all about. Without failure, there is no way to provide equilibrium. What doesn’t kill you makes you stronger!
I think - or at least hope people are smart enough to know this quick fix will make things much worse in the future. The best thing to happen is let all the bad happen right now. Things will get ugly, and it will hurt every normal American citizen as well as the entire world.
Sometimes, you must suffer to make things right. This is not just a matter of ideology and my belief in the constitution. The fact is, the quicker liquidation of these malinvestments happens the better. As a middle class American, I’m ready to suffer and unafraid. I’ve been through much worse.
I am against socialism at all costs. By voting for either McCain or Obama, you are promoting Marxism and socialism…wake up and smell the TRUTH! What is so revealing is how the democrats and George W. Bush are together on this bailout. Like I’ve been saying all along, all of our leaders are fascists. Now watch them jump into the blame game while they should be blaming themselves.
The question isn’t, “Whose fault is it that the bill failed,” it’s “Who should be praised for rejecting it!”
McCain and Obama must REJECT any/all bailouts or they are spineless idiots. They have both proven themselves partisan politicians who care only about their parties.
It is time for this government to fail. Only then, we will crawl up from the ashes towards building this nation into the great nation it once was. The government caused all this and now we will all feel the effects. This is a historical day in America. I appreciate everyone who voted against this socialist bill. Even if you lose your home, your investments and your retirement fund, it will be better in the long run.
Now I’m listening to McCain and Obama saying this fascist bailout should have passed. Both of these men are Un-American. People need to understand that propping up a system ruined by bad credit is only going to make things worse and destroy the fabric of what it means to be American.
If I buy something, it’s in cash or I don’t buy it. I said earlier that this is the government’s fault, but it’s equally the people’s fault for buying too much on credit. If you cannot afford a house, then don’t buy one. It’s as simple as that. Learn to live within your means. Most people buy things on credit and only pay the minimum monthly note. That is one of the root causes of this entire problem. Either pay cash or do without.
I just received a $237 check from my Google adsense. Though I am relatively poor, I sent that money to the Christian Childrens Fund to feed starving children.
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I think we agree on many things, here Bobby - I even see that my response to your latest comment and this post of yours both use the term “live within your means.” Personally, I think things have to fall down or we learn nothing. And you can’t get blood from a stone so you can only take so much money from the working class. Then, when we have been reduced to only the Poor and the Rich, what exactly do these smarty-pants rich folk think is going to happen?
Hi Teeni! You hit the nail on the head. This bailout is all about these rich people worried about losing their money. I am not rich by any means, but I am willing to go through the hard times coming. I am absolutely against the citizens paying for Wallstreet’s mistakes.
I believe this country will recover stronger than ever WITHOUT the bailout. Credit will become extremely difficult to get, but right now it’s for the best. This is a win for the people in the long run.
The great depression’s lessons should be remembered. It lasted so long because of similar “bailouts”. I am actually happy for America today because it means the people have spoken!
As crazy as this all sounds … it rings true. Our politicians KNEW this was coming, as well as many other people with a watchful eye. You may have noticed that the most prominant talkers and blame pointers today on the news were the ones DIRECTLY INVOLVED!!! Unbelievable.
Socialism did indeed drive this.
Something you touched on here that I really like. What about the accountabilities of “us”. Getting into way more house than you are capable of handling / paying is just plain ignorant. Yes, Fannie Mae and other institutions made loans possible and available to people with a high risk of not returning payment, but indeed NOBODY forced loans upon Americans.
I see it like the loan shark in the neighborhood, “He should not be allowed to be there, yet there was a line at the office”
I know we cannot “just blame Democrats”, but we can find one giant flaw in our countries greed driven government … end all lobbyist contributions, donations, and bribes
Our politicians were bought by these lenders, and this is well documented. Very well documented. Find a list showing the worst culprits, and you will also find the candidates we now have to choose from - as they blame everyone else!!!
Amazingly sad. What I find interesting is that most people I talk to really do not understand what is happening, or why. It has been in the making since the Clinton Administration like a giant ballon ready to pop.
POP!!!
Hi Eric! I know if you and I knew this would happen, than certainly the politicians knew! That Barney Frank is one democrat that needs to be fired IMMEDIATELY along with Nancy Pelosi.
Yes, Bill Clinton started much of this mess though Bush will be blamed. Bush is not a conservative, though he is a republican. I thank all the republicans and the few democrats that shot this thing down. I did my part and sent emails to my representatives - I also called one of them.
You know, I would vote for McCain if he opposed this bill and stopped his “maverick” crap, stopped his war mentality and just got honest. I say bring all the troops home from everywhere on Earth. If someone messes with us we crush them. We cannot afford to police the world right now. Here’s to America’s sovereignty.
That balloon has popped and now they want to re-inflate it with band-aids. They will reintroduce the bill again tomorrow. I will fight it tooth and nail by calling my senator and representative. Everyone should do the same.
This is a great day in American history for me
I just saw this: http://youtube.com/watch?v=VgctSIL8Lhs …. deals with a lot of what we are discussing here. The names mentioned will not surprise you!
Have a good night Bobby - I’m going out to pick berries in the wilderness
One thing I’m not certain about is the way socialism is perceived by Americans. After watching Michael Moore’s documentary on the terrible health system in the states, it seems that socialism is equated to communism, and both are very different. For example, there are many socialist countries in Europe that aren’t communist, that have a democratic process, that allow free enterprise, but basic systems are socialised to enabled everyone equal access to education and health. Now, America prides itself on being democratic and so on, but many citizens have a raw deal where healthcare is concerned, with a high percentage either not being able to afford health insurance or not ‘qualifying’/meeting criteria; meanwhile people suffer or go without medical insurance, some die and others simply endure. This, to me, isn’t positive either, but the medical insurers and politicians that support these companies will always use the ’socialism equals communism’ excuse to justify the financial overheads these medical insurers earn.
The other reality behind this financial crisis is the mindset. It’s not just politicians but it is deep within the culture of ‘I can have everything and I don’t have to share if I don’t want to,’ which is masked as free enterprise in the United States. In other words, one’s immediate neighbor can go to hell just as long as one has five motor vehicles, a pool and a large house. Now I’m not saying that a government should step in and control everything, because that would be communism, but the government (not just this administration, but every administration since Nixon - and the advent of health insurance) doesn’t manage things well. Billions go toward unjust wars, people are brainwashed to believe the wars are just (who has really had the capacity to invade the United States? No one, but people believe this can happen because of a diet of fear), billions go toward space travel because of the ego trip ‘we’re the first’ and millions of people, let’s say 12% of the those in poverty (millions of people), suffer more for the ego of a political (any) administration to show to the world ‘we’re the best, we’re this and we’re that,’ even if a high portion of people are dying because they can’t pay for a hospital bed and infant mortality has risen; in terms of medicine for the average earner, the US may as well be a third world country. Now if medicine/health was socialized, that wouldn’t be a bad thing, but every government, democrat or republican, has never done anything about it. The United States really has to wake up and realize that in many countries, like France, the United Kingdom, and other democratic countries, socialized community services (health, housing etc) are not communist. This is a myth that has been created in the US so corporations can still earn billions. This issue in the US, the disparity between economic and ethnic groups isn’t a new thing. It can’t be blamed on one political party. Both political parties are to blame over decades of mismanagement and biting off more than they can chew so they can show off to the world ‘we have more nukes, ‘we have this and that’, and now, with an economy in crisis, what are the politicians going to do? Sell their nukes to make up for the cost? I hate to say what I’m going to say, but many US governments (democrat and republican) have been more interested in pouring billions in manufacturing weapons of mass destruction (using the excuse of national security and other BS) and creating reasons for military intervention than looking after their citizens’ basic interests.
@Eric: Yeah, that Barney Frank is one twisted liar. I admit McCain was right on that one, but he’ll have to change a lot to earn my vote. Obama is out of the question. I’m going to eat some wild berries myself!
Looks like we all may need to relearn forest survival skills and I’ve picked out a bear cave between the Keebler elves’ hollow tree and Papa Smurfs’ mushroom home…
Seriously, I am surprised the economy hasn’t failed sooner especially with $12 Trillion of American debt owed by foreign nations. Foreign ownership of American debt could be used as a financial weapon to create a crisis greater the $700 billion bailout scandal.
Even if foreign nations don’t pull their trigger, how much longer can the economy sustain a debt that is 470% of the national income ~ $53 trillion in debt versus the income of $11.3 trillion in 2007 ~ a debt that keeps on soaring like the American bald eagle?
Hi Ana! America is already a socialist nation, but it is inefficiently managed. At the end of my street there is a government housing project filled with supposedly poor people. These people are paying $35.00 per month for rent and driving sports cars!
The wrong people are getting help and the people in desperate need are not getting it. What you saw in that Michael Moore film doesn’t show the entire truth.
What I’m saying is that right now, America cannot afford any more socialism because America is broke. You’re right, socialism is not communism; however, more socialism is going to destroy this country. It’s a fact that Obama is a student of Marxism. I do agree with him about the Iraq war, but he is not the answer to our problems.
If a crack addict has 27 babies and cannot even afford to feed herself, should the government pay to take care of them? If America were financially able to fund government health care, I would be fine with it - but we’re not.
A financial collapse is a good thing and will shake people into reality. I think war is both stupid and a waste of money. America has spread itself far too thin with it’s military and needs to stop policing the entire world. I think America is so filled with narcissism and greed that our government cannot be trusted to have anymore power than they already have.
Let me say it a different way: Some socialism is a good thing if it’s managed honestly and the people receiving benefits were honest. After hurricane Katrina, millions of people took advantage of free government money and bought big screen TV’s and video games. I know a guy that got $19,000 but had no storm damage! He bought himself a new speed boat.
I’m flexible in politics and believe we need different ideologies at different times. Right now, we need a return to the constitution and American sovereignty. This will save the country. Wasting money on war, space exploration and other stupidity must be stopped.
I do care about people and don’t want people starving. I am glad corporations are falling and many of these super rich business people are losing their money. Bill Clinton started this loaning unqualified people home loans and now we’re seeing the effects. Combine that with Bush’s war and you have a broke country. That’s all I’m saying Ana, we’re broke and socialism is going to finish us off. We need Ron Paul as president right now, but we are too ignorant to elect him. America’s government is too big and bloated and has far too much dictatorial power. They must stop printing money! The federal income tax is unconstitutional and the federal reserve must be dismantled.
I believe George Bush will not leave office via a clause in the patriot act because of economic crisis.
Bob - count on me to do some more digging and update my post in my continuing effort to support this great post …. The Federal Reserve is neither Federal nor a Reserve. Owned by a corrupt group of International Bankers, it is a privately owned monopoly, largely responsible for creating America’s National Debt. It is also a parasitic and unnecessary entity that literally creates American currency out of nothing and then collects interest on the backs of taxpayers for doing so.
MAJOR UPDATE -
The Big Lie of the Federal Reserve Gangsters
Hi Debbie! Yeah, we keep borrowing money and now other countries are buying this country. People don’t actually own anything anymore, it’s all credit.
The biggest thing people don’t understand is that America is freaking BROKE! You cannot fix it with more credit, borrowing from other countries and by slamming the citizens with a 700 billion dollar bailout.
If all I have is $2.00, I’m not in the market for a new house, car and Dom Perrione. That’s what’s wrong with this country!
Hey you! I missed you on Facebook. Want to chat soon!! I’ve just been swamped with stuff.
Great article as always. Now, when do we start our purse rental business?
@Euro: Oh yes, I look forward to that! Many Americans are starting to see the truth about these Banks and how incessantly printing money is pure stupidity. The only politician talking about that is Ron Paul. When are McCain and Obama going to talk about the REAL problems? They won’t because they are part of it!
Hi Paula! Hahahah…a purse rental business sounds like a winner (you remember that article huh?) Sure, let me borrow some quick cash from China and we’ll get started
Hi Bobby!
We both agree on the credit crisis yet, I wonder how the American economy exists without a major increase in the national income to reduce the debt ratio. Are you keeping the economy afloat with your $2 golden currency?
I don’t know Debbie, I think America is a house of cards and actually doesn’t exist. Our brains just haven’t caught on to it yet!
Yes, I’ve reinvested my $2.00 into our starving economy. I bought a designer rubber band to wrap all my late bills in upscale coolness
Hi Bobby Neo!
I see… We have been Morpheus-ed into the Money Matrix. Can Keanu Reeves save us?
Hahaha! You do realize he really is Keanu don’t you? That movie “Feeling Minnesota” SUCKED!!!!
Hi Bobby Neo,
Hahaha! Of course, I know he is really Keanu!
Looks like I can cross “Feeling Minnesota” off my movie list, too!
Yes, but the SCENERY was excellent … dar in Min e SoaTah, then.
That Moneypenny is quick! I am going over to house.
I’m not Neo, I’m Bobby Wobby…hehe:) You had that movie on your list? I’m about to watch “On Golden Pond” - a wonderfully sentimental favorite…NOT!
Hi Eric, are you part of one of those wilderness militias out in the Minnesota frontier? Where the children have shotguns and the police don’t go? Hahaha!
We have those types here Bobby, people that are on benefits or simply give birth to more kids just to get social security money, and most of the time it’s difficult for this to be monitored, but governments can (if they want to) create measures to minimize fraud.
You reminded me of the time I was out of home, in between jobs (I was 17) and I really needed to go on unemployment benefits for short while looking for work, and in the line in front of me there were guys in sports outfits (Nike, Adidas, etc), and I couldn’t believe it, they wore clothes that would have taken me weeks to buy (but they sold dope and other drugs, and received unemployment - it happens everywhere). And that’s a government’s job, to monitor these things, but then if they do, then the people will go on about police states and things. There are times I am all for people having an ID number, for their earnings to be entered in a database so tax records can be cross referenced so people don’t rort the system because fraudulent declarations and claims cost society.
You’re right about the socialism not working in the US at this point. I think it’s too late at this time because of all the financial problems to sort out. I agree with the recent wars taking their financial toll, I don’t disagree at all. The last time I checked, the US military budget was over five hundred billion dollars or something similar.
What you mention about people not owning anything, that’s something that’s had me going for a few years now (not the credit, but the sheer amazement of how people can live on credit for so long and not have a nervous breakdown). I’ve never had a credit card in my life and I can only thank my early debts (less than five hundred dollars) when I first left home. Even though I paid them off later, I couldn’t get a credit card approved due to the credit reference database here, and it bugged me in the beginning, but over the years I’d notice coworkers and friends boast about new cars, televisions, appliances and other things, but after a while they’d be paying off interest and lumbered with years of debt. A lot of people don’t think before they buy, and sometimes I think all the small debts add up. It’s not just the home mortgages, it’s all the little things. I watch television, and many department stores here are still offering ‘interest free’ periods until 2012, based on financed purchases. It’s crazy. I’m glad I don’t need to buy any new appliances, or if I do, I wait until I complete my taxes and the refund, and buy things with cash.
Hi Ana, I understand all about those Nike and Adidas sports outfits drug dealers and gangsters wear. When I lived in Phoenix Arizona, there were poor housing districts where the homes had no doors or windows, but had Porches and Lamborghini’s parked out front. Hordes of guys hanging outside wearing thick $25,000.00 gold chains - all collecting welfare and federal assistance!
Yeah, this war is so ridiculous and I fear more wars are coming. What people fail to see is that there are only a few countries NOT under control of the international banks (like J.P. Morgan). Two of those are Iran and Pakistan. One often ignored reason for the war is to get these countries under these banks and of course, controlling the world’s oil supply.
When younger, I completely ruined my credit with idiotic spending and I learned my lesson. My credit rating is better now, but I don’t use credit cards and am basically poor.
One big problem all politicians have, is though they claim to understand the average person, they see things from a distance.
In America, what needs reforming is the federal reserve. Tax cuts for the poor and other cosmetic fixes are meaningless and don’t get to the problem’s root - the endless printing and devaluing of the dollar. I’d bet that Australia has the same exact problem.
I’m used to doing without and am perfectly happy. I am not materialistic. I lost nearly everything I owned a few times. I’ve been homeless and hungry and am not ashamed to admit it.
I know I sometimes come off harshly on our political system but they deserve only the best from me…lol!
“I just received a $237 check from my Google adsense. Though I am relatively poor, I sent that money to the Christian Childrens Fund to feed starving children.”
AHhh you are such a big softie woftie- good for you. I don’t really think it’s fair for the tax payers to pay for this nonsense. A lot of tax payers have to pay for their own mistakes already. I don’t really see the logic that this is going to help the American people, I think it’s going to help big business and help over paid executives and that’s it.
Hey Michelle! I promised myself that most of the money I make on this blog will go to charity, the rest pays for hosting. Now if I made way more, I may spend some on me. To me, feeding starving children is the most important charity!
John McCain was asked today, “Since the people oppose this bill, will you listen to them?”
He said, “No. I must do what is right.”
Hahaha…That is offensive to me. Doesn’t he realize that “mainstreet” is willing to take the pain? I am offended that our leaders ignore what we say for the most part. Obama blames the republicans for being too weak to make their party vote for the bill. Neither of them “get it”.
Let’s see… Banks don’t even want to loan money to each other? Really? They had no problem lending money to anyone and everyone before now they don’t want to lend to each other? Must be some sort of “new, new, math” I’m not familiar with.
Paulsen had some high level mettings (sercret?) regarding the AIG bailout, ultimately amounting to $85B. Why was there a repesentative from Goldman Sachs present for that meeting? Wouldn’t be because they had a $20B interest in AIG would it?
I’m pleased with the “bailout/rescue” (whatever you want to call it doesn’t really matter to me) failing. Yes, the economy is going to suffer. I only know too well the problems I personally have faced and will continue to face. My wifes company is liquidating and after 15 years will no longer have a company to work for in 30 days. Where’s their bailout?
Me… things have been tough for sometime. There will be no extra holiday help, no bonuses, and no paycheck for me (except to pay the bills). Will have to dip into retirement funds, temporarily I hope. I expected that to happen. Where’s my bailout?
Banks and lenders are a big part of what screwed this up to begin with and yet they are exactly the ones that the “braintrust” wants to give the money to to fix it? Puhleeeese.
I am certainly no economist and don’t pretend to be but giving money to those who screwed things up to begin with and waiting for it to “trickle” down is not my idea of a “rescue”. I’ve yet to read where the root cause of the problem is being corrected. Let’s just “fix” what happened and “trust” the same mistakes won’t get made again by the same people who made them in the first place.
Afterall, knowing that the government is not going to allow them to “fail” is certainly enough incentive for them to get it right this time isn’t it? Right.
Hi Dave! If they’re going to pass this bailout/rescue plan, it should be based on trickle up, not trickle down. I’m against it, but if they pass it anyway, it should go solely to small businesses and desperate home owners. That way the money will trickle up to the lenders. No matter what, the taxpayers are going to pay for it.
I’m no economist either and only took 3 economics classes in college. I do know that reforming the federal reserve is where the problem is and that’s where they should start.
The fact is, no matter what we want, our leaders will do what they want and ignore our criticism.
This country is enslaved to International banks and they are the disease - everything else are just symptoms. Excess printing of money and living on credit fumes is not going to fix anything. There’s going to be an uprising against our government before long and it will not be pretty!
i know this is a selfish comment. but, I am so thankful that we own our home, our property taxes are super low, and we have just a trickle of outstanding debt which will be payed off in a couple of months.
We have room for a large garden to grow our own food and if worst comes to worst, which I fear it is going to, we live out in the county and can raise our own meat.
I remember my mother talking about the great depression and how they went without. I remember her stories about beggars coming to their door daily for food.
This is a good article Bobby. And you know if we do fall completely on our face in this country isn’t that going to effectively help achieve the same thing as a revolution?
yes we shall survive but it is going to very difficult and everyone better get prepared!!
Maybe the last joke will be on our politicians when there is no money left to write out their pay checks(just dreaming here okay), ha, I would like to see how many would stay and be as devoted to America as they all proclaim without all of their little perks!!
I doubt very many if any!!
That’s not a selfish comment Jackie! I know how thankful you are for what you have and should take comfort it that. I have a little garden and grow some fruit and veggies!
Sadly, our government has forgotten the lessons from the depression and how what they’re doing right now, is the same thing that made the depression last so long.
Falling on our faces will only be a revolution if the government is completely restructured from the ground floor. What people need to realize, is that when they’re doing well and credit is easily available - that’s when they need to be extremely careful - instead of buying the hottest new clothes, hair styles, TV’s and so forth. This country is so offensively materialistic and Hollywood is it’s biggest proponent.
I can survive in the wild if needed, I am quite skilled at it…lol
Sadly, I tend to agree Bobby.
As I see and read it, part of the problem with the failing motrgages and margage backed securities as that they are bundled in large packages and sold. All intertwined and spread across many different places. Trying to untangle them would be close to an impossible task.
There needs to be some serious reform in the practices/habits of the financial industry before I could endorse giving them more money. Without putting money in the hands of the end consumer from the start, really doesn’t matter if the banks are willing to lend more to each other or not. Really doesn’t matter if the banks are willing to lend more to businesses or not because the end consumer, at best, is only going to get the same amount money they were getting to begin with which clearly wasn’t enough or there wouldn’t be this crucnch to begin with.
The financial sector has been making mistakes for years. I’ve no reason to believe they won’t continue to make the same mistakes with a “bailout/rescue” package. I’ve no reason to believe they’ll be using my money, the tapayers money, any wiser now than they have before.
How are they any smarter in figuring out where the money should go than the people spending it? How is their track record of determining to whom to lend the money and where to invest the money any better than the folks they lent it to or invested it with?
I quite frankly would rather take my chances with the consumer figuring out where to spend the money rather than the government and financial sector figuring out where to loan it and invest it. They screwed that up already. They have been shown they are not going to be allowed to fail and really aren’t facing any consequences for failing. The consumer however, is facing failure and the consequences that go with that failure daily.
Who do you trust more?
Haha..well Dave, all I know is it’s so screwed up and over-complicated that I doubt the experts really understand it. Another thing needing reform is the monstrous tax code. There are far too many loopholes to be exploited by people rich enough to find them.
Each time new laws and bigger government occurs, there a billion buzzards there to find ways of exploitation; thus smaller government is a necessity!
You’re right, people know how to spend their money better than government ever could. I can’t believe I’m not getting a knot in my stomach over this stuff anymore - I’ve learned to discuss it and still remain calm and happy. I used to get so mad, but it’s not healthy!
Hey Bobby, last week on YouTube, there was a video detailing the government policies that led to the problems as well as detailing Obama’s connections to high-ranking people in Fannie Mae. Did you see it? Interesting stuff. The video’s no longer on YouTube or I’d give you the link.
Hi Dan! I don’t know if I saw that particular video, but I watch all the news networks and am aware of his connections as well as his life long studies of Marxism. On the other hand, McCain also has similar connections to Fannie Mae - they all do! I’ve built a special holding cell to place these criminals in (in my backyard) haha!
Yay! I’m here today Bobby (ooops, I almost wrote Booby he he), thanks for coming by my blog today!
Hi Marzie! I no longer have boobies, I had them surgically removed…hahahaha
LOL Bobby, that’s it, all the flash cars and it makes you wonder which government departments are being paid to look the other way. A government should regulate certain things, I don’t mean in a totalitarian sense, but to make sure that all its citizens have a good standard of living.
Now all this bail out stuff, there was a big discussion at my local coffee shop today, and the monies that will be put back ‘in’ to the financial markets (corporations, banks, etc), I doubt it’s going to make a big difference to the ordinary citizen (non millionaire, non CEO, etc). At the end of the day people have to live, buy food to live, the basic necessities. A recent example (this week’s) I can give is here in Australia, the price of meat, particularly beef products went up because grain went up in price. But do governments subsidize primary producers (farmers, cattle owners, etc)? They’d rather bail out every corporate institution. I say, let the unstable ones fall on their face and downsize. It’s about time they were downsized, because corporations are usually the ones that downsize their personnel, and it’s about time they were downsized, and for the government to look at supporting the primary and secondary sectors within their countries (primary and manufacturing industries). There’s no damned use floating some bank, when people are still going to have difficulty affording food to eat, and then on top of that, you have ‘authorities’ going on about obesity in countries like the United States and Australia (the two top obesity spots in the world according to recent stats), but how the hell is obesity to be minimized when junk or high fat food is cheaper than fresh produce, and education (in terms of school and recreation) isn’t a high priority?
You know what gets to me Bobby? What gets to me, each time I watch the news, even if it’s an Australian broadcast, or an American broadcast, is one common event that shouldn’t be happening in our countries, and that’s the rise of the working homeless people, who eventually become unemployed because they have no place to live or have to live in a transient way (in cars, caravans/trailers) because they can’t afford to rent or buy a house. There is no excuse for that in countries like America or Australia, not when governments can afford to develop/fund/manufacture(the Pentagon’s latest -in the Wall Street Journal- to sell jets to Israel: then Israel makes out that it wants peace. what bullshit), military weapons. To look at a country like America (or even the UK or Australia - basically a western nation with economic potential), with a wide economic advantage (its market etc), and to see homelessness among ordinary workers that slip between the cracks, is an abomination. It’s unjust and it shouldn’t be tolerated by individuals. Governments and candidates that keep on using their excuses for ‘national security’ so they can spend billions on funding military actions should be regulated by citizens. I mean, did 911 have to occur. I don’t believe it did have to occur. Many systems were in place to prevent that, but it seems as though somewhere along the line, some internal government sectors ‘relaxed’ a little, and it led to fear politics that has resulted in more civilian deaths around the world, based on fraudulent claims (non existent weapons of mass destruction), not to mention the financial cost of war to American citizens. If the Iraqi’s don’t want a democracy, then let them be. I don’t get how certain governments think it’s their god given right to force certain things on other countries. But the way governments (UK, US and Australian: the three main supporters of the recent Iraq war) pretend to care is simply outrageous because it has led to poverty for people who have sweated to provide a life for themselves, their children, to experience foreclosure, to live in vehicles. Is it really that different to the Great Depression, people going from one place to the other simply to live and work?
Hi Ana! My uncle who is 50, got a staph infection in his hip and was out of work for 2 years. He lived at my house and I took care of him during the entire ordeal. Between hospital bills and lack of work, he was in serious debt. Just before he was able to walk efficiently, he fell in the bathroom and broke his femur in half! Ouch! Well, he tried unsuccessfully for several months to get social security from the government. One guy he talked to said, “If you were black or Mexican, you would get it. Basically, you’re the wrong color.”
He was denied his benefit because he is white. This was ridiculous because one of his friends who is black, got his benefits after breaking his back and was only out of work for 3 months! In America, there is just as much discrimination against whites as anyone else and it’s increasing. It’s taboo to discuss and you’re considered racist for mentioning it.
When a corporation gets too big, it’s bad on so many levels; there are too many people depending on it and it has too much power. When they get too big and mature, they get old and die just like people. The bailout will be the equivalent of putting a brain dead patient on life support for religious reasons…lol!
My political position is basically a libertarian constitutionalist. I’m anti-war, liberal on all social issues, and for bringing most of our troops home - not just from Iraq, but from 90% of the countries we’re in. The founders of this country envisioned a capitalist, non-interventionist position. A welfare state is not the answer. If America reformed the federal reserve with extremely strict guidelines, stopped printing money and stopped policing the world - a regular person could get a regular job and live the dream. There used to be a time where you could work at McDonalds and have a decent life.
On the Iraq war - I see it this way: How would you like it if China decimated the Australian government and put bases in your back yard? That’s exactly how they feel about us. Pull the troops out like a band-aid…right off!
On another note, the market bounced back today - up 500 points! How did that happen? I think these bailout idiots were wrong. I made 23 phone calls and sent over 50 emails to senators and other government officials to fight against this bailout.
You really should watch the award winning Internet film Zeitgeist (just google it). It will change your perception of this entire world!
I agree with your principle regarding ‘bailouts’! Our Govt. did that 10 years ago and today we are still facing problems! Foreign Investors are rather reluctant to invest here due to partisan politics and bailout mentality! Let the economy fall, perhaps we can sieve out the men from the boys!
Hi Bokjae!I believe in things happening naturally. When a corporation gets to big and corrupted, we must let it die. The more I learn, the more I see nearly all governments being infested with greed and corruption. When a corporation dies or goes bankrupt, it allows new ones to grow
Hi Bobby,
You knocked the ball out of the park on this post.
As you know, I rarely discuss politics. But.
Your most compelling statement and, indeed, the most powerful string of words in this rendered page is this:
“Failure is the only thing to keep the system honest. That is what America is all about. Without failure, there is no way to provide equilibrium. What doesn’t kill you makes you stronger!”
I know that opinions are like peepholes - what the government sees as a big problem is really just a regular problem with its eyeball staring back at Uncle Sam.
No matter what our individual perspectives, philosophies and politics, we can all agree on one thing: fire is hot. If you know this, yet STILL poke your hand into the flames, then you deserved to get burned.
On a lighter note, isn’t “bailout” what we do to get our friends released from jail?
I say: Revoke the bail! Impose full sentence!
Cheers,
Mitch
Thanks Mitch! I would like to believe our government and all it’s experts know what they’re talking about, but they do not! How on Earth do they think people will trust them?
Many people think it’s Bush’s fault and will vote democratic in retaliation - but they will get the same thing no matter who they vote for. Both candidates are pushing this bill right along with Bush - and it’s Bush’s bill!
It’s obvious to me that the bigger a corporation becomes, the closer to death it is. It’s only a matter of time before Microsoft is replaced by someone else like Apple, who is gaining ground.
The American people are disgusted with congress and it’s about time they let them know!
Sometimes Rome has to burn.
I’m glad the bill was shot down. I don’t know why anyone would think investing in bad debt is a good idea. I think we should throw all the CEOs of these banks into a bay… and the politicians.. and lobbyists..
I’ve been wanting to write about this for awhile. I think the whole political process is outdated and ineffective. The president of the US is obsolete; we don’t need one person to make decisions for us anymore this isn’t the 1800s.
Hi Brent! I couldn’t agree with you more. The whole idea that we all have to choose a side and hate the opposing party is so stupid.
The government has far too much power and control over everything. The president now has absolute power and can declare war without approval. I think the American people should be able to vote on such issues. Yeah, we need a whole new type of government and get rid of this dictatorship!
I subscibed to the comments here and have a vested interest and curiosity in what people think … and are saying about this whole fiasco.
One thing seems to not get recognized much. The bail-out was not a surprise nor a random decision. This is unlike other bailouts. For instance, Northwest Airlines keeps getting preferential treatment and money in Minnesota, because they claim jobs would be lost. Case #1
Case #2 The ONE AND ONLY reason all of these junk loans were given at all, was because the government programs gauranteed them. The mortgage companies had no fear, because they were never really accountable. Fannie Mae - Fredie Mac were brainchildren of liberalism. IE - everyone deserves a house. ((WHAT!!!?!)) This entire problem was caused by government, not free market. Free market would never risk there own shorts, but gov money?? Sure, why not. The greedy were given the green light.
I repeat … THE LIBERALS created and designed this system. Now, the media and what seems like everyone on the planet blames Wall Street and Conservatives. As we have both seen, this is just not the case. Public opinion has swung to Obama as the best candidate to handle this crisis. (((WHAT?????!!!)) Good grief, our country has gone crazy for sure.
The loans were gauranteed years and years ago. I understand the point of government rescue being silly, but this one is different. I would like to see every politician that took monies / voted to keep this catastrophy alive and well be sent to prison for white collar crimes. THEN - we could get some NEW candidates!!!!!!!!
Good, no???
Yes, I am still running as a write in
Hi Eric! All I can say is America is screwed!!!! I must admit I consider fiscal liberalism to be as close to communism as you can get.
When McCain said he didn’t care if American citizens did not want this bill, he knows better than the people and will support it, I completely lost all respect for him.
If he wants to win the election, he should stand up and OPPOSE THE BAILOUT!!!! If he did that, I may vote for him.
Where are the real conservatives? Bush and McCain are spineless dumbasses! Of course, I consider Obama to be a pure communist and deeply fear his agenda.
The most important thing I’ll say to you Eric is this: By blaming the liberals we lose site of the real issue. It is both the democrats AND republicans that are to blame. I will not take sides as both sides are corrupted. I say stand against both!!!!!!
These people work for the corporations and all deserve prison. Vote for Bob Barr or Chuck Baldwin.
Can’t we get any national grassroot support for Rep. Ron Paul and Senator Eric “Speedcat Hollydale” before it is too late??????
Sounds good to me Debbie!!! I’m awaiting the senate vote right now and am about to throw up. After hundreds of thousands of calls in opposition to this bill, you would think THEY WOULD HAVE TO vote against it. Aren’t they supposed to do what we say????
Hi Bobby!
When was the last time any politician did what the American people say???
I don’t know Debbie. It simply breaks my heart to know how little we count. The idea of a corporation immune to failure is straight out of the Communist Manifesto. This country is literally becoming communist more every day.
Obama and McCain would make Karl Marx proud