federal government prepares to take more control of your life and money
 

http://news.yahoo.com/s/cq/politics3020921

Bailout Watchdog Calls for Financial System Overhaul, but GOP Dissents
why does the government even give a ---- how the economy is? government is instituted by men to protect and maintain individuals rights, not to regulate the economy.

Re: federal government prepares to take more control of your life and money
 

Military to Pledge Oath To Obama, Not Constitution

Re: federal government prepares to take more control of your life and money
 

Sources for this neo con propaganda?

Re: federal government prepares to take more control of your life and money
 

no some idiot posted it without much behind it :-*

it was on usatoday website lol

Re: federal government prepares to take more control of your life and money
 

Rangel, Other Reps, Party in Caribbean With Citi Fund

"Six Democratic members of Congress enjoyed a Caribbean junket sponsored by Citigroup after Congress had approved the $700 billion bailout of financial services firms in October.
The National Legal and Policy Center, a watchdog group, has asked Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program, for a formal review of the Citigroup’s sponsorship of the trip by House Ways and Means Committee Chairman Charles Rangel and five others.
The NLPC says the trip violated House rules.

In addition to Rangel, other members of Congress who attended were Donald Payne of New Jersey, Sheila Jackson-Lee of Texas, Carolyn Cheeks Kilpatrick of Michigan, Bennie Thompson of Mississippi, and Donna Christensen, the delegate to the House from the United States Virgin Islands."

Re: federal government prepares to take more control of your life and money
 

Public support for the economic recovery plan crafted by President Obama and congressional Democrats has slipped a bit over the past week. At the same time, expectations that the plan will quickly become law have increased.

Forty-two percent (42%) of the nation’s likely voters now support the president’s plan, roughly one-third of which is tax cuts with the rest new government spending. The latest Rasmussen Reports national telephone survey shows that 39% are opposed to it and 19% are undecided. Liberal voters overwhelmingly support the plan while conservatives are strongly opposed

Re: federal government prepares to take more control of your life and money
 

Socialism will be great, just watch and see.......

Re: federal government prepares to take more control of your life and money
 

you dont even see a slight connection? Economy in the crapper=more crime/murder/chaos=people start losing their right to life/liberty/pursuit of happiness. Im not saying they should stick their head into everything without limit, but they should at least have an interest in it lol. Also, if their is less money changing hands, less taxes are paid, and the govt goes bankrupt and cant do ----, including fund the armed forces, pave roads, etc,etc. At least thats how I see it, I'm no expert. You cant just kick the whole govt to the curb johnny

Re: federal government prepares to take more control of your life and money
 

same argument over and over.

constitutional government doesn't need all that money.

the more money the govt controls the less freedom and liberty we all have.

you don't need to be rich or wealthy to have life liberty and happiness. when the govt controls everything you do, and your money, your business, and taxes the hell out of you... you have no liberty

Re: federal government prepares to take more control of your life and money
 

the bailout is complete bullshit, there is hardly anything in it to help this economy.

Re: federal government prepares to take more control of your life and money
 

i was reading a thread in H-T politics forum with a list of how much money was going towards what for the bailout. 200 million to "fix up" the nation mall or w/e it is in D.C.

how the ---- is putting 200 million into a mall going to help the economy?

Re: federal government prepares to take more control of your life and money
 

it won't duh

they said 20% of the bill is there is actually "bail out" something.

the rest is pork. abortion money, birth control money, global warming research money, the list goes on and on with liberal bullshit

Re: federal government prepares to take more control of your life and money
 

They don't, I have tried to explain to you how they manipulate the numbers such as GDP,CPI and all the other ---- they use to convince morons like yourself that everything is all fine and dandy and we have the strongest economy in the world, obviously it works pretty well, or at least it did.

The people in charge of the Federal Reserve system don't care about the economy at all, but they DO care about how it appears to everyone else, basically how long do you suppose other countries would continue financing our debt if they saw that we were headed for a major recession? How long would the dollar remain the worlds reserve currency if everyone knew that it was virtually worthless and it was backed by nothing? As long as people think ---- is ok the Fed can keep printing money, our stupid ---- officials can keep deficit spending, and joe six pack can keep building houses that will sell for 3 times their real value to all the suckers that think they can afford it.

Re: federal government prepares to take more control of your life and money
 

I didnt say you needed to be rich. What I do think you need is some stability, which doesnt happen on its own and will almost certainly not happen if the govt has no role in the economy. With the economy in the shitter, less people have jobs, less people can own a home, less people are happy. So i think the govt has some responsibility to keep an eye on the economy to make sure "the american dream" is even possible for the majority of people.

To be honest im not sure what to think about bailouts/stimulus since I think if a business does poorly, it should be allowed to fail. The problem with that is that our economy is wrapped around certain industries so much that letting one or two fail ends up screwing a ton of people.

I dont want the govt controlling everything, but you seem to want them to control nothing and collect zero taxes...which makes no sense. Thats my only argument, I don't pretend to have a solution. Give me the johnny bliss version of what the govt should be...and keep in mind that it needs to work for this century, not just the 1700s.

Re: federal government prepares to take more control of your life and money
 

thats an oxy moron. Your always complaining about loses money because the dumb liberal loser takes it from you. :P

from now on whenever you complain about money im going to quote you on what you just said.

Re: federal government prepares to take more control of your life and money
 

that quote really went right over your head BD. :-\

Re: federal government prepares to take more control of your life and money
 

You understand that the government keeping an eye on the economy is exactly what has put us in our current situation right?

Ironically I was watching the world economic forum on cspan the other day and of all people, Vladamir Putin (prime minister of Russia) said that he thinks government shouldn't intervine in the private sector, we need to get rid of a single reserve currency (the dollar) and that he would be open to disarmarment talks, its ironic in the fact that the former KGB officer and now prime minister of a former communist country is talking about free market solutions and freedom (his speach was very long and he elaborated on lots of other ----) and the western countries are all turning to nationalization to solve their problems.

Re: federal government prepares to take more control of your life and money
 

Maybe I'm wrong, but I thought that it was more that they weren't paying enough attention and the companies ran themselves and each other into the ground. I dont see how the govt being involved in the economy caused the stock market to drop and banks to give out loans to people that cant pay them. Enlighten me, I only catch the news from about 730 to 8 before work so I basically just see the weather.

Re: federal government prepares to take more control of your life and money
 

You wouldnt have a job with the Johnny Bliss Republic...

Re: federal government prepares to take more control of your life and money
 

Banking saw the potential to make a fortune in the 90's. Create loans that anyone could qualify for. This would allow people who cant save 100 dollars a month to get into a home. This allowed a false economic growth one based upon credit has homes were valued 2x there true value based on GNP.




Enjoy the run and have the American public believe a home will increase 20 percent in value per year. Las Vegas perfect example had most new track homes that were never lived in after completition even though they were purcahsed a year+ before. The market allowed homes to go up in Vegas on average 20 percent in value per year for way too long. There were miles of track homes owned by realtors/investors who would sit on a property for a year or two with a intrest only loan flip the house and make 100k+. See how this created a false sense of growth.



If it wasn't for adjustable/interest only loans we would have gone into this economic downturn after 9/11. All we did was prolong the fact that we sent our blue collar work force to china. The blue collar work force only survived due to construction that was based on Monopoly money. So Obama in all his ignorance thinks fixing roads for a couple years will save that workforce that will sit unemployed for who knows.



The economy has to naturally makes this downturn to clear out the BS loans and poor credit score homeowners who shouldnt of been in those homes to begin with. Get back to homes being affordable pre 2000 pricing on a standard 30 year fix and we are on that route if Obama keeps his dirty hands out of it.

Re: federal government prepares to take more control of your life and money
 

For everything John-boy gets right, he fucks something up.

Ignorance is Bliss (coolest guy ever) (coolest guy ever).

Re: federal government prepares to take more control of your life and money
 

Thats true, but what your describing is an effect of government intervention and not the cause of the problem, Basically we were headed for a recession after the tech stocks crashed in the late 90's but after Sept 11th 2001, the government enacted something like 1.5 billion in tax cuts and new spending as well as the federal reserve cutting interest rates to 1 percent, this is what caused the bubble. Then also remember around this time the stock market had just taken a huge ---- so there was all this capital to invest and rather than bet on stocks it was invested in mortgage backed securities, these are basically assets that are made up of pooled mortgages that at the time were very secure and paid high returns.

So then like Chris said you have all these developers come along and start building houses, which are built in phases, and are bought by investors through contracts prior to the completion of the first phase of the development, the theory being that since the houses are owned before completed they do not saturate the market and cause a price reduction, also this creates demand which guarantees the future phases of the development higher prices.

But then you look at the lending standards, which prior to this boom period were very strict (because they wanted to be paid back the money they were loaning people) however the huge demand caused all these new mortgage products to start being offered such as interest only ARMS and special teaser rates that allowed people with bad credit and poor job history to buy houses. The reason being that home prices were rising like 20% a year (which was all based on speculation which is a whole other subject) and all you had to do was live in the house for a year or two and sell.

Also the government introduced a capital gains tax break for i believe 500K for couples that owned their home (er well lived in anyway) for two years.

Heres an example from Peter Schiff's book "Crashproof" :
Anyhow the point is that without the Government meddling with interest rates and pushing tax incentives, the banks would not have lowered lending standards and the housing bubble would never have been created, we would have had a brief albeit painful recession and would not be talking in our current predicament. Now we are in an interesting delemma where (according to Keynesian economics) the FED can either raise interest rates to combat inflation at the cost of causing a bad recession, or increase spending which will stave off recession and increase inflation.

So sure the government should "REGULATE" the banking industry, this means create guidelines to ensure investors are not taken advantage of and if so they are provided a means of recourse, without this then large corporations and hedgefunds would be able to manipulate stock prices and ---- shareholders while making large profits for the fund managers and putting all the risk on the common stock holders, of course this is exactly whats been happening... so yea theres a bunch of greedy bastards that took advantage of alot of idiots, but those same idiots were also greedy and this is what got them taken advantage of, however it was the federal government that made it all possible and should be limited in their intervention of the markets.

Re: federal government prepares to take more control of your life and money
 

Anyone who wants to understand what started this look at the city of Stockton California. Its a shithole of ghettos/poverty/murder/drugs but they built around the ghettos 2500+ sq foot homes. People bought them up to get away from that world. Well google will tell you the rest.