McCain, Paulson, Bernanke, Bush – Bailout Plan and Banks

If I understand the news correctly this would be the second scandal John McCain is involved in. The first, the savings and loans, he was involved in deregulation and now this one and again he was involved in deregulation.

I’m not sure of this but is John McCain starting to “flip flop” on the current crisis and issue?

Paulson is moving to supply banks with billions of dollars but I was just wondering if any action has been taken to prevent their “bad lending” practices? With stock ownership will banks improve or have “better” lending practices?

What other actions have been taken to help the middle class pay for their mortgages and prevent mortgage foreclosures?

How do lower interest rates affect banks, affect their lending practices, and how do they affect their bad lending practices?

Is there a team of 1000 economists helping Paulson (Republican) and Bernanke (University professor appointed by G Bush) make these decisions? Where can we see their credentials?

Some Quotes

Paulson: It’s a rough patch in the road.
Paulson: The banks are strong and they are going to be strong for many many years to come.

Bush: It’s a rough patch in the road.
Bush: sometimes when you over correct you end up in the ditch.

US Economic Dooms Day Scenario - TheDeficits

I think the people of the United States and foreign finance ministers should be made aware of the information on this web site. Emails were also sent to many different government and private organizations as well a few months ago. TheDeficits.com

The US Economic Dooms Day Scenario

Inflation is high and the normal procedure to reduce it is to raise interest rates. Banks worldwide will soon do the same to bring in capital as well. Given the nature of interest rate fluctuations it is a fact that interest rates will rise. When interest rates rise this will cause the foreclosure of more mortgages and the collapse of more banks. The Fed chair and Treasury Sec, Bernanke and Paulson, who wants to make the US government and tax payers the back stop will throw in everything including the white house building resulting in a 3rd world status of the US. Other world banks who try to rescue the US banks will be dragged down as well resulting in the worst economic disaster in history.

For the past several months billions of dollars have been leaving the US.

The current administration does not seem to have the will to correct the situation and it seems to be only a Political game to them. Treasury Sec Paulson claims that it's a question of faith but you should note that people worldwide and in the US have lost faith in this current US administration and it's faith continues to go in the downward direction.

**********

From: Danny Hunt [mailto:dannyhunt@gmail.com]
Sent: Thursday, March 27, 2008 9:00 AM
Subject: my advice to my friends

If you have investments and haven’t already moved them to Guaranteed funds I would advise you to do so ASAP.

I’m not an economist or economic advisor and it’s just my personal advice.
If you do speak to an economic advisor some may even tell you that now is the time to buy and of course some will tell you to do what I have as well.

I hope that I’m wrong and we’ll probably know in a few months.

Have a great day.

Danny


__________ Information from ESET NOD32 Antivirus, version of virus signature database 2977 (20080327) __________

The message was checked by ESET NOD32 Antivirus.

http://www.eset.com

Obama McCain Debate - Tax Cuts and the Economic Black Hole

I watched a bit of the debate last night. The point was made that John McCain wants to give the wealth more tax cuts and surpass the failed Bush administration's economic policies.

Since the Bush administration tax cuts in 2001 an average of 450-600 Billion dollars has been added to the Federal debt per year for a total of over 3700 Billion. About a total of 700 Billion for the Iraq war and about 3000 Billion from the tax cuts to the wealthy.

I believe Bernanke himself said that these deficits and added debt had a depreciating effect on the US dollar. So I would like to know how the reduced purchasing power of the US people affected the common American and the US economy.

If you make the wealth wealthier by 3000 Billion dollars does this make the middle class and the United States "poorer" by 3000 Billion dollars?

Let's say we gave the wealthy all of the money. How would this affect the economy and would it be like an Economic Black Hole?

Sarah Palin Potential Commander in Chief War with Russia

In a recent interview Sarah Palin said the US might need to go to war with Russia.

I think that when a potential commander in chief like Sarah Palin says she may go to war with Russia we need to pay attention and find out what the war plan and strategy would be against Russia.

Would she launch 1000 missiles? 100 missiles? or just one missile as a warning shot to show the Russians what nuclear war is all about?

Jerusalem and an Idea for Peace - City of/for Peace

One idea for peace would be to make Jerusalem the first United Nations territory or city of or for Peace.

Religion is about peace but the source of many religions, Jerusalem, has been used as an engine of War between these religions for centuries.

I think I saw it best described in the movie Kingdom of Heaven when one of the actors said "it's nothing and everything".

By making it a United Nations territory or city it would not be yours or theirs but everyone’s. North America, Asia, Africa, Europe, Middle East, Indonesia, and South America's.

In other words we would be using what has been an engine or source of war and division into an engine and source of peace, communication, and understanding. This is what religion is really supposed to be about and I think this is the way we should start using this city, a first of its kind city for peace.

Given the fact that the Palestinians and Israelis are heavily involved their participation in this process would be key as well.

Alaska's Sarah Palin Foreign Policy with Russia

On Oct 1, 2008 on the CNN channel I saw an interview with the northern people of Alaska who are two miles away from Russia. One of the things they were doing is dumping garbage into the ocean and it would wash up on the Russian side.

So my question to Alaska's Sarah Palin is does she consider this to be a good foreign policy with Russia and of course is it a good environmental policy?

Political Tip for Sarah Palin and George Bush

I remember George Bush saying something like "I looked him in the eyes".

I'm not sure but I think Sarah Palin made the same kind of statement.

Here's a political tip for Sarah Palin and George Bush. Politicians are a bit like used car sales men. They can look you in the eyes and lie without a problem and some have made a profession out of it. It's what's on paper that really matters.

As for the Republican car, it's ready for the junk yard.

Sarah Palin’s IQ

I would like to know what Sarah Palin’s IQ is.

The IQ is not the end all tell all of intelligence but it usually is a good indicator.

For example George Bush’s IQ was considered low and it was a concern. JFK and Bill Clinton both had very high IQ’s.

So the pattern or trend seems to be that Presidents with high IQ’s do better.

Dick Cheney Economics - Deficits Do Not Matter

I once read an article about Dick Cheney telling one of the economists that disagreed with the Bush administration economic policy that "deficits do not matter".

So I'm just curious and wondering, given the fact that he was the CEO of Halliburton, how has Halliburton managed to stay in business?

As for the economist that disagreed, his position was either terminated or he left on his own terms (possibly encouraged to do so).

Ethanol and Mortgages – Global Food Shortage and Food Cost

With the way Ethanol legislation has affected food item prices and the middle class a serious effort should be made by the Republicans and Democrats to reverse the Ethanol legislation or at least create a commission to study this as quickly as possible. It's about the Economy and requires immediate action. In some countries and in some cases it's also about starvation and death.

A joint effort with other countries like Canada can also be done to bring down the cost of wheat, reduce the cost of living for the middle class, and eliminate the food shortage. This may help the middle class make ends meet and help them in their capabilities to pay for their mortgages.

Tax Cuts to Corporations do not mean Job Creation in US

Senator John McCain keeps insisting that more tax cuts to the wealthy and corporations will create jobs in the US. This is not true.

There is no proof that tax cuts to the wealthy and corporations create jobs in the US? For example the wealthy can invest in a foreign emerging economy stocks or markets and corporations can use the money to build factories in China and combined with cheaper labor this adds up to even bigger profits. Being profitable and competitive is what corporations are all about. How does this affect US jobs or create US jobs? Has the US been losing jobs or creating jobs?

I would also like to know how the campaign contributions of Obama and McCain compare. I know that if I was wealth or a corporation I would probably support or endorse John McCain no matter what the effects on my country or fellow American citizen was. It's just business and about money right?

The Liberal Leader Dion's Economic 40 Billion Dollar Hole

Dion's economic plan seems to have a 40 Billion dollar hole. From what I've seen on CBC the numbers are 53 billion in spending (FACT) and 40 billion in green house gas taxes (NOT FACT). In other words corporations can cut their emissions by 50% or more and turn 40 billion in to 20 or 0 billion. We are in an economic down turn and I also question the wisdom of adding new corporate taxes during this period instead of during a period of prosperity. Higher taxes during high profits and low taxes during periods of economic downturn to help them keep employees or ad employees and also stay in business. Flexible taxes for the different seasons or cycles of the economy.

This economic plan sounds great and it’s easy to sell “we are going to tax pollution and cut your taxes by $2000.00”. It’s not an economic plan but a political one.

Some politicians are now saying they saw this economic down turn coming while others are saying they did not.