Well now, the addittional $150,000,000,000 has a tax break for companies who invest in alternative energy, but no money for home owners!
There are tax breaks for people who have been through natural disasters, but no money for home owners, unless you classify what has happened as a natural disaster.
There is an increase in insurance for desposits in banks from $100,000 to $250,000, yeah like alot of home owners and middle class families have to worry about that problem.
There is an incentive also for the film industry, but again no money for home owners or those who have lost there homes. Heck, there is even funds provided for a Nascar track, I can't believe I am even typing this and oh don't forget some arrows for something. What is going on here.
Am I crazy or does there seem to be something missing in this new spending spree. Doesn't it seem like the middle class American has been left out along with there home mortgage problem which is at the heart of the problem.
But wait they are not totally left out, they actually get to pay the bill.
Thursday, October 2, 2008
Wednesday, October 1, 2008
More Fear for More Money
This whole Wall Street thing is driving me crazy. To think that when the house voted down the bill because of its enormous price tag and then only to have the Senate pass it by adding on another $150,000,000,000 is quite insane to me.
I have been listening to people commentating on this only to here these extra $150,000,000,000 referred to as Sweetners and Pork Barrelling, whatever that means, no seriously, $150,000,000,000 is what they are willing to spend to get people to vote the way that they want them to, this is absolutely crazy.
I guess the only think that we can hope for is that the house has more common sense and will once again see this bill for what it really is. That is if they can block out all the fear mongers and all of there sky is falling or going to fall if you don't do this. I hope they will do what is right for the American people and for everyone who is loosing there homes in America. We can only hope that this madness doesn't carry on much longer, so that the real issues can be fixed.
I have been listening to people commentating on this only to here these extra $150,000,000,000 referred to as Sweetners and Pork Barrelling, whatever that means, no seriously, $150,000,000,000 is what they are willing to spend to get people to vote the way that they want them to, this is absolutely crazy.
I guess the only think that we can hope for is that the house has more common sense and will once again see this bill for what it really is. That is if they can block out all the fear mongers and all of there sky is falling or going to fall if you don't do this. I hope they will do what is right for the American people and for everyone who is loosing there homes in America. We can only hope that this madness doesn't carry on much longer, so that the real issues can be fixed.
Tuesday, September 30, 2008
Wall Street Rebounds Surprise, Surprise
Anybody out there really surprised by Wall Street's big rebound today, I wasn't. In fact,I believed that that is exactly what would happen. I wouldn't be surprised if the boys in congress didn't know what they were doing voting down the bill to bailout Wall Street yesterday.
From the Reports that I listened to they clearly stated that while they were voting members of the house were actually going out to see what kind of effect there voting was having on the Market. I believe they knew what they were doing, voting down the bill and then watching the stocks fall and then they could pick up some cheap stock. They say buy low, sell high, maybe that is what they were thinking.
I Hope that this isn't what happened, but my mind just wont stop me from thinking that that is exactly what happened. What do you think about this matter.
From the Reports that I listened to they clearly stated that while they were voting members of the house were actually going out to see what kind of effect there voting was having on the Market. I believe they knew what they were doing, voting down the bill and then watching the stocks fall and then they could pick up some cheap stock. They say buy low, sell high, maybe that is what they were thinking.
I Hope that this isn't what happened, but my mind just wont stop me from thinking that that is exactly what happened. What do you think about this matter.
Friday, September 26, 2008
Oil - Wall Street's Forgotten Foe
This post focuses on something that I believe most people have forgotten all about, Oil and in particular how it was the key stumbling block to the whole economy including the bankruptcy and buying out of many well established businesses and banks like Washington Mutual, Lehman Brothers, Merrill Lynch, Fanny Mae and Freddy Mac, just to mention a few, you get the point.
With everything that has happened on Wall Street and everything that is going on now, it is quite tempting to put the blame on the boys who have now gone bankrupt or who have been bought out by another company. Of course we all like to point the finger and say it was your own doing that got you into this mess and this of course is true for the most part.
However, I believe that amidst all the pointing of fingers in Washington lately, whether it be Democrats pointing fingers at Republicans or Republicans pointing fingers at Democrats and the whole nation pointing its fingers at the President that something is missing, there is someone else or in this case something else that we need to be pointing our fingers at and saying this is the real reason we are in this almost trillion dollar mess, that is Oil or like some like to call it black gold.
I can't believe that no one has even once mentioned this over the last few days or weeks, all we have been hearing is that big banks acting recklessly have caused great calamity upon our economy and our nation and possibly the world. But wait, didn't the price of Oil skyrocketing over the past year or so cause the price of gas to almost double and raising the cost of groceries by 25% or more, wow, didn't this have something to do with the down turn in the economy.
I believe it played a major role in the collaspe of the economy, very simply because if people are buying homes who are already poorly qualified and then couple that with the price of gas doubling and the cost of food rising to historic heights wouldn't this place these people in a position where they had to choose to pay there mortgage and bank loans or buy gas so they could go to work and put food on the table. I sure believe that this is the choice that many home owners were faced with and we all know what they chose.
And with there choice the Blue Collar workers of America sent a statement to Washington and to the Whole World that they have the Final say. There clearly declared that you may put us in an uncomfortable position of choosing between paying our Mortgage or feeding our Families, but we put you out of business.
With everything that has happened on Wall Street and everything that is going on now, it is quite tempting to put the blame on the boys who have now gone bankrupt or who have been bought out by another company. Of course we all like to point the finger and say it was your own doing that got you into this mess and this of course is true for the most part.
However, I believe that amidst all the pointing of fingers in Washington lately, whether it be Democrats pointing fingers at Republicans or Republicans pointing fingers at Democrats and the whole nation pointing its fingers at the President that something is missing, there is someone else or in this case something else that we need to be pointing our fingers at and saying this is the real reason we are in this almost trillion dollar mess, that is Oil or like some like to call it black gold.
I can't believe that no one has even once mentioned this over the last few days or weeks, all we have been hearing is that big banks acting recklessly have caused great calamity upon our economy and our nation and possibly the world. But wait, didn't the price of Oil skyrocketing over the past year or so cause the price of gas to almost double and raising the cost of groceries by 25% or more, wow, didn't this have something to do with the down turn in the economy.
I believe it played a major role in the collaspe of the economy, very simply because if people are buying homes who are already poorly qualified and then couple that with the price of gas doubling and the cost of food rising to historic heights wouldn't this place these people in a position where they had to choose to pay there mortgage and bank loans or buy gas so they could go to work and put food on the table. I sure believe that this is the choice that many home owners were faced with and we all know what they chose.
And with there choice the Blue Collar workers of America sent a statement to Washington and to the Whole World that they have the Final say. There clearly declared that you may put us in an uncomfortable position of choosing between paying our Mortgage or feeding our Families, but we put you out of business.
How Wall Street Fell to Blue Collar Workers
Wall Street took a gamble and lost. That is right, they took a gamble against the Blue Collar Workers and lost. This is how I believe it all played out.
First, Wall Street along with all of its investment bankers and local bankers provided billions of dollars to Blue Collar Workers who were on the fringes and beyond, who were not able to really afford a home, but with the new no down payment process it made owning a home very easy and tempting. So all of these banks that are looking for bailouts now gave loans to many people who were not prepared for any economic down turn of any sort.
But the economic down turn came and it was huge, gas prices soared to more than double the national average and along with that the price of food increased dramatically, putting the Blue Collar Workers in a very vulnerable position. They were now faced with a very critical decision, do I pay my mortgage payment and loan commitments or put gas in my car and groceries in my cart. And guess what, they chose option 2 and hence brought Wall Street to its knees.
Wall Street Gambled that the Blue Collar Workers would choose option 1, they convinced themselves somehow that they would put them first and not there families or basic needs. But anyone knows that when push comes to shove that Blue Collar Workers will always put there families first and big banks second or last or something. Good for them, not so good for Wall Street, but gambles don't always payoff.
First, Wall Street along with all of its investment bankers and local bankers provided billions of dollars to Blue Collar Workers who were on the fringes and beyond, who were not able to really afford a home, but with the new no down payment process it made owning a home very easy and tempting. So all of these banks that are looking for bailouts now gave loans to many people who were not prepared for any economic down turn of any sort.
But the economic down turn came and it was huge, gas prices soared to more than double the national average and along with that the price of food increased dramatically, putting the Blue Collar Workers in a very vulnerable position. They were now faced with a very critical decision, do I pay my mortgage payment and loan commitments or put gas in my car and groceries in my cart. And guess what, they chose option 2 and hence brought Wall Street to its knees.
Wall Street Gambled that the Blue Collar Workers would choose option 1, they convinced themselves somehow that they would put them first and not there families or basic needs. But anyone knows that when push comes to shove that Blue Collar Workers will always put there families first and big banks second or last or something. Good for them, not so good for Wall Street, but gambles don't always payoff.
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