Did you see MarketOracle's writeup on WTF is going on with our economy, bankers and bailout/stimulus packages?

Did you see MarketOracle's writeup on WTF is going on with our economy, bankers and bailout/stimulus packages? Topic: Did you see MarketOracle's writeup on WTF is going on with our economy, bankers and bailout/stimulus packages?
July 19, 2019 / By Anakin
Question: http://www.marketoracle.co.uk/Article852... It isn't short, but I think it is pretty good for those of you tracking this. What do you think? serenely someone, yeah, but the critical mass needs to be larger, if possible. Education. 2010 coming up. I agree that the writer had more to say about the economy than about partisan politics.
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Best Answers: Did you see MarketOracle's writeup on WTF is going on with our economy, bankers and bailout/stimulus packages?

Topsey Topsey | 4 days ago
It helps talking with senior citizens once in a while. many think they're nuts because they're old. Man, did they ever make a mistake. It's true. Doing things right is not the way to fast money. Problem is though fast money is just and only that..........fast. God forbid anyone ever tried saving money and being prudent. Or even actually building something. You're looked down upon like an antichrist. Well, you reap what you sew. Yea, i think alot of ppl should have listened and paid attention. Now they'll see the consequences of their actions(and nonactions) first hand. Funny thing is, this could have been avoided altogether 6 yrs ago. That's when it showed its teeth ppl. All of this has been done Intentionally. They played on your greed instead of innovation. They knew most ppl's greed would win out over everything and anything else. All in the name of the fast buck, completely crushing what was being built for the betterment. They suceeded. And they can go to hell. We need to scrap them. And send them to packing. That article(in very many ways) is spot on. "Manipulation" hmmm.
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Topsey Originally Answered: a lot of people don't like the stimulus plan. what are your Ideas to get the economy moving again?
I would start with a 15% cut in business taxes. This tax cut will allow the manufactuers of US made goods to lower their prices by 8% yet still make the same profit. This will have the effect of making US made goods more competetive with imports and keep jobs from moving overseas. Replace the Bush-era tax cuts with a progrssive capital gains tax benefit. Any capital investment held for less than two years pays tax at current income rates. As capital investments are held for longer periods of time a 3% decrease in tax rate per year up to a total of 21%. This will encourage investment in capital and discourage investment in debt. We dodged a _huge_ bullet in the current recession in that the Bush tax cuts plowed investment money into capital instead of debt. If companies had been up to their ears in debt (as they were befor the Bush tax cuts) we would be facing a tidal wave of business bankruptcies right now instead of a lot of shareholders getting their dividends cut. Next, I would promote a tax break of $10,000 every time a company increases its number of perminant, full time employees over the average for the past 18 months. Finally, I would make the use of e-verify manditory and allow whistle blowers to get 10% of the fines levied on any business that hires illegals. Illegal immigration competes for entry level jobs with poor Americans and if we make it harder for companies to hire illegals then poor people looking for entry level jobs will have greater opportunities.
Topsey Originally Answered: a lot of people don't like the stimulus plan. what are your Ideas to get the economy moving again?
Slash taxes and people will have a whole lot more money in their pockets to spend. this will stimulate production of products providing jobs, people will start buying houses again, sales and production will automatically improve because people will have money to spend. The only thing that will need to be cut is the size of government, and that is a good thing.

Ruthie Ruthie
DAR, the info you've provided these two years has elevated nearly to the status of "law" the theory that our system - especially the sincerity of the R & D parties - is broken. I got through about 2/3's of the linked article; but the author lost all credibility in assuming that the line dividing our Nation can be drawn between the "two" parties. Were he steeped a bit more in Locke, Washington, Jefferson, Madison, Franklin, etc, he'd have drawn a bold line around unconstrained government and its abuses, correctly seeing the divide as between the People and a single entity with two masks doing the "good cop/bad cop" routine. Beyond that, his analysis of the financial debacle is pretty well spot-on. Much sharper than most I've read, he charges the recklessness of central banks with the lion's share of the blame. Still, there is a mounting uneasiness over what can be done about it. We are out of time, here. The "2010 vote" looms like the "Armaggedon" meteor. Either we splinter the party collusion then, or time runs out and our Liberties and economy suffer its full impact. I appreciate the link. Thanks. But what, when and how? We have a massive threat to counter. ... Edit: I agree and hope I didn't imply otherwise. Let me be the first to admit: I hold every indication that their divisive propaganda has sabotaged our weapons of logic and discrimination of fact to be as heinous as any other forcible (or stealth) disarmament by any would-be usurper of free-thought and discussion. I'm not angry at the author but at the paramount presence of "a lie, repeated often enough" to be regarded as true by so many. I'll try to watch my tone. Keep me on my toes. Thx. ...
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Nellie Nellie
That is very interesting. Very true. People who have lived through this know what is going on. Wish other people would wake up to the facts!
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Nellie Originally Answered: What does the bailout mean? What is that the govt. doing when they say that it is planning to bailout banks?
1) Technically the taxpayers are not paying for the bailout, for now. Average tax payers ran out of cash a long time ago. So much of the bailout package will have to be funded by the foreign governments (especially the Chinese), while we will have pay a large interest rate + principal back to the foreign entities over a number of years. The rest of the bailout will be borrowed directly against our own future, working much the same way as social security. It all depends on the probability that we as a nation remain financially capable to one day completely pay off this portion of the bailout bill. 2) Banks have to be bailed out because average Americans depend on their financial services. If banks and insurance industry fail, then you can kiss your life insurance, car insurance, and home insurance policies goodbye. You can also kiss low interest rate credit cards goodbye. Further, you will not be able to get a loan you can afford to do anything, including starting your own business, paying for your kid's education, and paving your cracked driveway. Since we all use financial services provided by the banks and insurance industry, they are considered everyday tools like cars and planes, so they have to be bailed out. 3) It may seem unfair that those running the financial industry screwed up so badly but are getting taxpayers' help. It is in fact unfair. But pragmatically speaking, we are better off bailing them out then leaving them to die. If we allow them to fail, then foreign investor confidence in America will cease. Since we literally run on foreign loans, our economy will tailspin because those loans will no longer be forthcoming. The worst case scenario in real terms is this: imagine inner city Detroit, except it becomes what the rest of America is like. 4) To balance this unfairness, heads should roll aplenty on wall street. A lot more regulations should be in place to prevent this kind of speculation in the future. Bush deregulated banking industry 7 years ago, and the bankers ran amok. Now we are just reaping the consequences now. We need go back to more regulations, for sure. 5) A final thought, and this is going to be harsh. It takes two to tango. American consumers are equally to blame. We have been spending too much and saving too little. Our personal irresponsible spending habits have as much to do with the current crisis. In fact, we save so little that our government can't even borrow enough against its own people to cover urgent needs such as repairing infrastructure, upgrading education facilities, etc. We have to borrow from the Chinese just to cover our shortfalls. This will not last. Solution to all this? We should start with a mandatory savings rate of 20%. More regulations to rein in speculation. Get our troops out of Iraq so we won't bleed so much borrowed money. Tackle the rest one by one. There is a lot of work ahead.

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