Obama on Fiscal Responsibility

[futureage1]

Didn't Andrew Jackson get rid of the national bank a few years back?

 

You seem to not realize the lengths that businessmen will lie. The national bank is the FED. And they came back in 1913 when we were in WW1 and desperate for capital. Woodrow Wilson said afterward allowing the FED back into our economy was his greatest regret. Here is an article about Jackson's FED opposition from WIKI. We keep fighting the same battles with the same multinational bank that has it's roots in the East India Trading Co., to give you an idea about how far back the FED stretches. Even now people are deceived because they call themselves the FED, which could not be farther from the truth. Lincoln,Garfield, and JFK all opposed the FED. Democrats and Republicans. Read back on the first page of this thread FDR's quote or better yet here it is again.

 

 

[Guest Jules]

Wow. An entire post that missed the point, quoted things not said, and failed to contradict anything I said with factual information, yet denounced me all the same.

 

Rush posts on VC?

nice try

[John Smith]

My "cries of socialism" have nothing to do with the banks.

 

I say bring back the tax rates of the golden age of America, the Reagan years, no socialism there, top rates...50% dropping late in his term, but also dropping many itemized deductions to make up for it.

[bobbob1313]

You seem to not realize the lengths that businessmen will lie. The national bank is the FED. And they came back in 1913 when we were in WW1 and desperate for capital. Woodrow Wilson said afterward allowing the FED back into our economy was his greatest regret. Here is an article about Jackson's FED opposition from WIKI. We keep fighting the same battles with the same multinational bank that has it's roots in the East India Trading Co., to give you an idea about how far back the FED stretches. Even now people are deceived because they call themselves the FED, which could not be farther from the truth. Lincoln,Garfield, and JFK all opposed the FED. Democrats and Republicans. Read back on the first page of this thread FDR's quote or better yet here it is again.

 

 

[bjorn_skurj]

You seem to be advocating a return to a national bank, right?

Advocated or not, we sure seem to be heading that way.

 

Here are a few quotes from an appearance I covered last week by U.S. Rep. Maurice Hinchey.

 

Hinchey said the stimulus package, $787 billion to be spent over the next two years, is a good thing, but if there was more of it, it would be even better.

[futureage1]

You seem to be advocating a return to a national bank, right?

 

Yes, a real one not the FED, and that's what makes me tune out to the Republicans because they actually are going back on their party's principles being the corporate lap dog's they are today. And here is a article today in the mainstream press about the situation. It is seriously time to cut off the bailout business for the country's own future, at this point. You should not let fear mongers sell you on the idea that Gov. can't run anything when it has been proven throughout time it is private enterprise that cannot be trusted, especially in the financial markets without serious regulation, if not outright nationalization. Healthcare and banks are two prime examples of private enterprise running themselves into the ground, at the people's expense.

 

MSNBC Article-Is It Time To Declare A Depression?

 

http://www.msnbc.msn.com/id/29469826

[bobbob1313]

The government can run stuff, but the federal government has a very difficult time doing anything timely or without a bunch of serious red tape.

 

This is why FEMA failed New Orleans.

[MrRain422]

Eh, that's a huge oversimplification of what happened in New Orleans, bordering on being simply inaccurate.

[Moe_Syzlak]

The problem is people are downright dogmatic about the political and economic philosophies they subscribe to. It is like the worst of the worst Yankees fan vs. the worst of the worst Red Sox fan. Rush is one of the worst offenders and worse yet he rallies people to act the same way (damn, that's a lot of worse and worsts). Not to say there aren't offenders on the left as well. Shouldn't we all want what works? If that is nationalized banks then so be it. I am generally pretty fiscally conservative, sot he notion rankles me a bit. But I'm not going to dismiss it out of hand because it might mean MY philosophies aren't the right ones. Who knows what the one true philosophy is... except Unitarian. If that's the one true religion I'll eat my hat.

[Good Old Neon]

My "cries of socialism" have nothing to do with the banks.

 

What, precisely, do they have to do with?

[Tweedling]

So, when does this "stimulus" package start stimulating?

[futureage1]

[futureage1]

[futureage1]

[futureage1]

Returning the money creation/distribution to control by the US Treasury is a necessary step in righting our financial ship. Jackson did it in the 1800's (kicked private central bankers like the FED out of the country), and still remains the only President to retire the entire US national debt.

 

Are we slow learners, or just too stupid & ill-informed to recognize the FED as the source of our problems rather than problem solvers?

[Good Old Neon]

It's not too often that I agree with David Frum (of all people), but he certainly pinned the tail on the ass (Rush Limbaugh):

 

"A man who is aggressive and bombastic, cutting and sarcastic, who dismisses the concerned citizens in network news focus groups as

[MattZ]

MSNBC Article-Is It Time To Declare A Depression?

 

If we took all the collective brain power wasted on labelling the situation (are we in a recession yet? yet? now? yes! depression? etc.), and instead focused it on fixing the problem, I think we'd be much closer to a solution.

 

Humans appear to be as pathetically fascinated with putting every fu(king experience in a box that can be nicely labelled as they are with perpetuating these bubbles that inevitably burst.

 

The markets have halved from their peak. Untold sums of wealth have been wiped out. Unemployment is rising. Inflation right around the corner. I don't care if this is a recession or depression.

 

(futureage1, this isn't directed at you -- just the msnbc article)

[Guest Jules]

Has anyone ever found/seen a published list of the "troubled banks"? Specifically the latest one we keep hearing about? I thought it was supposed to be in Crain's but I can't locate it online.

[dondoboy]

Has anyone ever found/seen a published list of the "troubled banks"? Specifically the latest one we keep hearing about? I thought it was supposed to be in Crain's but I can't locate it online.

This is an "unofficial list". Apparently the FDIC keeps reporting that the list is growing, but won't release it.

Unofficial List of Troubled Banks

 

There are two lists there, one in PDF.

[MattZ]

Fuck you, stock market.

[mfwahl]

Nationalizing banks? I'm no expert on this, but I've read the FDIC is taking over smaller banks at about a rate of 2 per week, so we're already doing this to some degree. In regards to the larger ones, I'm not in favor or against nationalization, per se. I would like a working solution. My problem is that both banks and insurance companies have been screaming bloody murder, talking about a catastrophic future if they aren't saved. Well, ok, if this is true, the fiscally responsible thing to me is to look at each of these catastrophic possibilities case by case and see how we can fix them instead of just throwing tons of cash at the banks. I'm all for saving the economy, but why should we save failed banks when small business owners in my area are forced to close their doors because credit isn't being extended even though taxpayer money has been paid for that reason. The way banks are acting, you would think the catastrophes are not having an open bar and Sheryl Crow at their private party or not being able to have large "bonuses" for their CEO's.

[Good Old Neon]

Nationalizing banks? I'm no expert on this, but I've read the FDIC is taking over smaller banks at about a rate of 2 per week, so we're already doing this to some degree. In regards to the larger ones, I'm not in favor or against nationalization, per se. I would like a working solution. My problem is that both banks and insurance companies have been screaming bloody murder, talking about a catastrophic future if they aren't saved. Well, ok, if this is true, the fiscally responsible thing to me is to look at each of these catastrophic possibilities case by case and see how we can fix them instead of just throwing tons of cash at the banks. I'm all for saving the economy, but why should we save failed banks when small business owners in my area are forced to close their doors because credit isn't being extended even though taxpayer money has been paid for that reason. The way banks are acting, you would think the catastrophes are not having an open bar and Sheryl Crow at their private party or not being able to have large "bonuses" for their CEO's.

 

 

Well said.

[bjorn_skurj]

Rush knows what he is doing. The worse conservatives do, the more important Rush becomes as leader of the ardent remnant. The better conservatives succeed, the more we become a broad national governing coalition, the more Rush will be sidelined."

That is exactly right. His brand of "conservatism" flourishes when its adherents feel persecuted, kind of like Islamic extremism and National Socialism.

[Good Old Neon]

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[Moss]

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