Your voices are being heard.
And that is a change we can live with.
Yesterday, people were frazzled over the 777 points drop in the stock market. Some failed to look back after Bush said we needed to write that blank check and no one reacted.
After we refused to react, the stock market went down 500 points.Still no panic... from you and me, but from those who have 500 million of their personal assets?... that was another story.... Please, please, please.... write that check... actually, just sign it... we will take care of filling in the blank portions...
The next day the stock market recovered the 500 points. Nothing had changed. Except maybe showing how things can be so easily manipulated.They pulled that off again yesterday.... Wow! 777 points is a frikking lot!
Sure, except that as predicted, it would go back up today by almost 500 points. I am not a betting person, but I am thinking we'll see new gains tomorrow.
On that horrific 9/11 day, the goverenment closed the stock market and allowed people to get their bearings and not panic.That was the right thing to do. Keeping cooler heads.
The stock market was doing well before 9/11 at over 10,000 points.
Today we are at 10,850 points.
The major surges we have seen in between are due to speculators.
People forget about the dot.com's failures and the major readjustments to the stock market, where they were selling worthless stocks and negotiating with worthless papers.
When the dot.com's hit the dust, the stock market was at Nasdaq was at 6,500 and when they failed they dropped to 2,500.
It was a major readjustment for junk.
Today, we are at 2,082.Point being.... NO bail out was issued then.
Since no one was buying yesterday, nothing was selling and the market readjusted where today, the bargain hunters striked in earnest.
It is a game of paper and it is giving average Americans indigestion. Not because they fail to understand how the game is played, most of us never have given it enough thought or attention, but because they have saddled us up with the responsibility of "fixing it" with incomprehensible figures and explanations.
Don't get mad that the deal is not done. Be relieved that so many Americans smell a rat and they are all demanding full disclosure instead of treating us like idiots.
We are NOT stupid, and they don't like the idea of us knowing more than they want us to know.For the first time in a long time, voters realize that their opinions matter and that their representatives have no choice but to listen.
Do you know why?Because we all spoke with one voice an AMERICAN voice.
Apparently, some of your representatives did too, here is an excerpt from the Associated Press:
___"It is now imperative that Congress come together and develop aresponse to the crisis facing our financial markets that reflects the Americanpeople's belief in personal responsibility and fiscal discipline." — Rep. MikePence, Republican.
___"I have been rushed to judgment by the BushAdministration before. There hasn't been enough time to evaluate the impactsthis legislation would have if enacted, or to consider alternatives. Congressdeserves time to weigh the benefits and the potential pitfalls of borrowing thismoney." — Rep. Baron Hill, Democrat.
___"We are now in the golden age ofthieves. And where I come from we put thieves in jail, we don't bail them out."— Rep. Pete Visclosky, Democrat.___
"I am bothered that Secretary Paulsonoffered an immediate government solution rather than taking the time to exploreeffective private sector and market based solutions. The Paulson plan was anunprecedented infusion of government power into the private financial sector." — Rep. Steve Buyer, Republican.
You can go to the link below and read from an economist that is neither a Republican nor a Democrat. His views are interesting and worth reading:
Here is an excerpt:
"The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government.The obvious alternative to a bailout is letting troubledfinancial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company.Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airlines). Bankruptcy punishes those who took excessive risks while preserving those aspects of a businesses that remain profitable."
One of the main things I have been hearing all day today from all types of news or media is the concept of resolving this issue from theground up and to stop trying to fix everything by expecting the "trickle down economics" that has never worked
What I am finding out is that NO ONE trust the taxpayers with money. They don't want us to have any. We may do something foolish with it, like ... uhm., I don't know.... live a life where we have time to pay attention.
It is hard to swallow that no one wants the middle class and the poor to have excess money. It must all be controlled by those who are at the top.
Dolled out in meager crumbs (remember the financial stimulus package?) I don't know about you, but I handed mine to the utility company.
If you are over 18 and got a million dollars, would you pay off your mortage? Would you put the remainder in the bank?
If you get a million and don't have a house, would you buy one? ~ the building industry would recover almost immediately.
If you have the house and now have extra money, would you not stimulate the economy by paying cash for things you could not afford before? ~ more jobs, more production.
Would your friend/family member finally have the $ to open their own business? ~ more employment, more tax revenues.
All in all, happier people, less stressed out people and a viable economy.
We can't have that. They won't trust you with your own money.
Here is an interesting chart of where we were and were we are, after you have read it, please ask yourself if YOU can be trusted with YOUR own money or should we continue to expect those in charge to have our best interest in mind so we can deal with the daily tasks that encroach into every aspect of our days:
Go here for some real numbers that are simple and to the point: http://www.dems.gov/index.asp?DE=%7BFDD09C4F-E958-4E13-A92B-179C2FAC6FEA%7D&SEC=%7BD68CD0B2-1442-4804-9F6B-AF67DE7FF585%7D&Type=B_PR
The Bailout is Baaaaaack!
They started gathering tonigh on the Senate and they'll vote on it tomorrow. (they claim it has been revised)
Both McCain and Obama will be there to cast their votes. Changes? New safety measures for the people? Who knows! I'll be watching and absorbing.
PEACE to you all.