Election 2008:The running of the Bulls…….

and the killing of the Bears. Let me explain the Running of the Bulls.

  • JOHN MCCAIN –  running from the debate. He like his chosen running mate need constant breifing on the vast emptiness of their knowledge. Palin on any foreign policy and McCain on economics. The debate would kill him if he were to have to explain his involvement in this mess since 1991. That Bull is running.
  • FED, WALLSTREET, FAT -CAT CONGRESS, INVESTMENT BANKS AND SPECULATORS running for cover and pushing the ill-conceived and completely unconstitutional bail out. Those bulls are running.
  • CEO CRIMINALS – running for cover under their lawyers from FBI prosecution for years of illegal activity under GRAMM-LEACH-BLILEY. Those bulls are running.
  • CREDIT MARKETS – running to turn off the faucets.
  • BUSH LEAGUE – running for the life of the GOP as they scramble before their house of cards completely collapses. Whistle-blowers are lining up to cover their tails.

And then there are the bears. The Predictors Ralph Nader, Ron Paul, Kevin Phillips, Robert Shiller and Karl Marx and other very wise folks.

  • The .COM/TECH – these bears died a horrible but quick death. It was a righteous death as a warning to wallstreets inability to monitor itself or verify others and showed us the X-factor at work. ie WORLDCOM (the houses with no brick or mortar)
  • The US ENERGY INITIATIVES – The failure of Wallstreet to get behind these enterprises and the BIG OIL lobby to crush it politically killed a major bear that we might have had an eight year head start on. Brutal death.
  • AMERICAN MANUFACTURING – This bear has suffered for twenty years, the most excruciating torturous murder. Medicated by cheap, poor quality and sometimes toxic goods, this bear has continued to struggle for it’s very existence (much like the ones in Alaska and northern points)
  • CREDIT FOUNTAIN- This bear took the bait and got it’s foot caught in the bloodiest of traps. Inflicted by the pushers of the most addictive substance known to man. FREE MONEY.
  • FEDERAL RESERVE FOLLY – Over printing, over extending, using the PRIME like your child uses your thermostat. Circus bears parading in tutu’s and everyone,s happy until the bear attacks.

HERE’S THE SOLUTIONS AND GET READY TO SCALE WAY BACK FOLKS

RALPH NADERS 10 POINT PLANImmediate Changes Required for Any Bailout

– No bailouts without conditions and reciprocity in the form of stock warrants

– No more lobbying for any company that is bailed out

– No golden parachutes and get out of jail free cards for guilty executives

– No bailouts without public hearings

 

Changes to Housing Market

– Reduce the moral hazard in U.S. mortgage markets by introducing covered bonds for the majority of mortgage products as they do in Western Europe. That gives institutions that finance mortgages an incentive to be prudent, because they cannot just unload them and wipe their hands clean of the liability, but are instead on the hook if the homeowner defaults.

– Maintain neighborhood stability and housing security by passing a law with a sunset clause allowing below median-value homeowners facing foreclosure the right to rent-to-own their homes at fair market value rates.

– Avoid future housing bubbles by removing implicit government guarantees for new mortgages that exceed thresholds of greater than 15-20 times the annual fair market rent value of the home.

 

Structural Changes to Financial Markets

– Make the Federal Reserve a Cabinet Position, so it is accountable to Congress, as well as making sure all Federal Reserve Bank presidents are appointed by the President and answerable to congress.

– Reduce conflicts of interest by taking away power for auditor and rating agency selection from companies and placing it in the hands of the SEC to be administered on random assignment.

– Implement a securities speculation tax, starting with derivatives to deter casino-style capitalism.

PUDDY DUNNES PLAN –

The Federal Reserve is mostly owned by Foreign Banks – The assassination’s of Lincoln and Kennedy had to do with the attempts to eliminate foreign banks.  the bill in 1913 creating the Federal Reserve Bank had a simple back-out clause. The investors loaned the United States Government $1 billion. And the back-out clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself. We buy out of the Federal Reserve for a billion dollars move the economy to a sales tax only. At 10%, a sales tax would cover it all and pay off the national debt.  Social Security would remain but FDIC American Banks would use investment and savings to build our economy and jobs and pay a prime rate plus one or more points based on GDP. This would require some lean economics for a short time but the long term view is as solid as a POLAR BEAR. But like the POLAR BEAR, time is short.

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One Response

  1. The 1992 Presidential Debates with Ross Perot were not dull. His warnings have now come true. Replace John McCain with Ron Paul. Add Ralph Nader and Cynthia McKinney. Barack Obama must earn his victory, not win by default.

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