"Congress should pass the Paulson Plan so that we may have stability."

LOL!

Sounds like Johnnyboy needs to re-suspend his campaign and save the world. At the very least, it would save him the embarrassment of explaining to his staff why he's tanking in Indiana.

It's the economy, stupid!

Yeah, I mean, since Obama is gonna win anyways, he might as well suspend his campaign too and spend the next two weeks in sunny and warm Hawaii, taking care of his typica white granny!

Taking care to forge his birth certificate.

#4 | Posted by member2586

classy comment.

Oh gee, pretending to bail out our economy with more borrowed money didn't work????
If someone maxes out their credit card they can't just charge more to fix the problem. Got to cut the card up and start paying down the balance. We need to enact the taxes necessary to begin paying down our debt. Nothing will work until real taxes raise real revenue. More borrowing is just pretend attempts to fix the problem when the real intent is to delay the problem til after the election.

since Obama is gonna win anyways, he might as well suspend his campaign too and spend the next two weeks in sunny and warm Hawaii,

Nah, Obama can walk and chew gum at the same time. We'll have to get used to a President that can do that again.

Obama can walk and chew gum at the same time. We'll have to get used to a President that can do that again.

NG that will be tough but I am willing to try!

GOBAMA!

The stock market is not a good indicator of the economy right now, they run screaming away from stocks one day and rush back in the next. The behavior is far from rational.

sounds like a lot of hedge funds are dumping stock to pay their debts. Same shit as 1929, only it was called margins, not leverage.

Got to cut the card up and start paying down the balance. We need to enact the taxes necessary to begin paying down our debt. Nothing will work until real taxes raise real revenue.

more droppings from the sheep.

the tax plan is irrelevant. You even say "cut up the card"....that implies cut spending....not change the source of funding to pay the card.

Nothing will work until real spending cuts are enacted. You pick your tax plan....I don't care....neither one that significantly different from each other anyway.

they are just symbolic points to argue about during an election campaign in order to keep your eyes off the real problem.....SPENDING

Not when unemployment is rising. Throwing more people out of work would just make things worse.
We need to remember FDR and use increased taxes to increase employment. I read this concept all the time, that somehow cutting spending will help the economy. I can't remember any example of that in our history. I can though easily give an example of when increased taxation and spending was the needed remedy.

sounds like a lot of hedge funds are dumping stock to pay their debts. Same shit as 1929, only it was called margins, not leverage.

#11 | Posted by northguy3 at 2008-10-24 01:37 PM

Bingo!!! And to follow that up, CNBC found a hard copy of a speech Paulson gave when either he was with Goldman or as Treasurer a couple years ago basically advocating using leverage to maximize gains. My feeling is you can't blame Paulson for the economic meltdown (Greenspan), but Paulson shares some blame for the meltdown in the stock market. (Deleveraging). And as a sidenote, a Hedge fund manager recently asked John Gutfreund (former head of Soloman Bros.) if he ever had a high ratio of leverage back then, and he said even if he had a ratio of 8 to 1, he would have had a heartattack. At their peak a year ago, Bear Stearns was like 40 to 1, Lehman 30-1, Morgan Stanley 30-1...you get the idea.

Nothing will work until real spending cuts are enacted.

Okay tough guy, propose the cuts?

Do we cut the military?

Veteran's benefits?

Medicare?

Social Security?

Everything else is just a drop in the bucket.

What the free market really means is big fish have the right to eat little fish.

The big fish are on a feeding frenzy and nothing can stop them except a new education system which will take 20 years to reach fruition.

Since many love to quote Clinton's surpluses...

That wasn't enough. Even with the so-called surpluses, the National Debt increased.

It's like these failing mortgages. Paying the interest but never really paying off the principal.

Tax increases? No, I don't support tax increases. Spending decreases are needed.

If I can't make more money, I cut expeditures.

People who file bankruptcy have to take classes to learn how to budget, earn, save, and spend.
Congress should, too.

"Tax increases? No, I don't support tax increases. Spending decreases are needed."

Yeah, if only we had more unemployed people.
Funny thing though, WWII eventually brought us out of the Great Depression of 1929...because of government taxing the rich heavily and spending it on war materials etc. which gave us full employment.

Propose the cuts.

OK, close the military bases around the world and bring the troops home.

Spend the money on bases at home. The military personnel will spend their money here at home instead of abroad. That benefits the economy directly.

Prosecute the illegal aliens. Once convicted, sell them into slavery. The Constitution allows the Federal gov't to sell them. That resolves the business needed labor. The sales will increase gov't revenue. The slave auctions will scare the illegals out of the country. This will save many States millions of dollars.

Next, for every dollar of aid issued to any foreign country, that dollar must be matched to every single State in the Union. That's right, every aid dollar increases 50 fold. The States will get something everytime we want to aid someone else.

Fix the Welfare Clause with a Constitutional Amendment. It's time a line is drawn regarding the welfare clause. The power to define welfare belongs in the hands of the legislature, not the judicial branch.

I'm starting a religion that believes condoms should be distributed in schools. Once begun, I will contest every condom distributed in schools to be promoting my religion. Being a violation of church and state, the gov't will have to stop -saving millions.

Do we cut the military?
Yep 10%

Veteran's benefits?
Yep 10%

Medicare?
Yep 10%

Social Security?
Yep 10%

Everything else is just a drop in the bucket. - eliminate all pork and earmarks for four years - at least.

Why do you expect increased unemployment with less gov't spending?

Are you saying, that because of the 16th amendment, unemployment went down?

"Why do you expect increased unemployment with less gov't spending?"

er...because people who work for the government are employed, when you fire them they become unemployed.
While they are employed they get paid and spend it on goods and services which creates additional employment in the private sector. When they lose their jobs so too do some in the private sector.

"
Do we cut the military?
Yep 10%

Veteran's benefits?
Yep 10%

Medicare?
Yep 10%

Social Security?
Yep 10%"

And how many jobs will be eliminated both in governmental jobs and the private sector jobs which result????
Cutting spending is a talking point, it doesn't have any history of ever helping the economy though the exact opposite has.

Good thing we gave Wall Street all that money.

"One might, however, easily imagine a 2000 point drop had nothing passed Congress."

When the gov't couldn't raise revenue through taxation, the country survived on what it had.

The Federal gov't must stay within the Constitution for responsibility. It has no responsiblity to employ the public.

er...because people who work for the government are employed, when you fire them they become unemployed.

When the gov't doesn't employ them, they seek work elsewhere.

Then, while they are employed they get paid and spend it on goods and services which creates additional employment in the private sector. When they lose their jobs so too do some in the private sector. When private sector lays off employees, so do some more in the private sector.

It's a fact of life. When the immigrants came to the US from overseas, they worked to survive. This occured before and after the 16th was passed.

The gov't isn't required to employ us. People are responsible for their own employment.

"The gov't isn't required to employ us. People are responsible for their own employment."

It wasn't required to do so in the 1930's either but if we wanted to get our economy back we needed to employ people and get money flowing through the economy. With so much wealth concentrated in the hands of the few it doesn't create commerce or employment. We are seeing the results of your type of thinking right now in the world economic crisis.
You want to run the economy based on philosophical ideology not on pragmatic realism. People can't eat ideology.
Keynes will, once again, be the philosophy that saves our economy.

WASHINGTON Liberal-leaning economists made the case for several new and expensive spending programs as a House panel on Friday pressed the Democratic case for legislation to try again to jump-start the sagging economy.

liberal dems. to the rescue.

"liberal dems. to the rescue"

er...I think FDR was a liberal Dem.

Funny thing though, WWII eventually brought us out of the Great Depression of 1929...because of government

#18 | Posted by danni at 2008-10-24 02:30 PM | Reply

Danni advocates war with Iran, but only as an economic engine

BTW Danni, I'm sure the 50 million who died in WWII would not consider it a "funny thing"

As if I made light of the deaths from WWII....

Vernon that was a pathetic post...even for you.

it was FDR who ordered mass deportations of Latinos when the economy floundered,where is fdr when you need him.

The corporate person is a public fiction.

Thus the corporation is a government entity.

The reason most people don't understand this is because most people aren't the ones who get the bailouts when their corporations go under.

They do get limited liablity though.

why wait on the government?when you get paid go find someone unemployed and give him 20% of your pay.

Ronald Raygun's true legacy. Shame he isn't around to wallow in it.

my new predictions..

S&P = 700
Nasdaq = 1080
DOW= 5882

It aint over yet folks...

keep your powder dry

Does anyone still think it's a good idea to put the Social Security trust fund in the market? That's why it's called Social Security and not Social Crapshoot.

Damn Bill Clinton to hell for all of this !!!!

Isn't that Right Republiscums ???