Posted by Bill on November 28, 2009 at 7:27 pm
Democrats, with their slim majority, are continually being called socialists by those within the Republican Party and anti-health care reform participants. The question is, are Democrats really socialists or are Republicans really Nazis?
At the writing of this post, the nations unemployment rate stands at 10.2%. This is certainly the highest unemployment rate the USA has seen in many years. At the present time 5.613 million Americans are drawing unemployment checks, and that does not count the millions that have left the accounting of this nation’s unemployment system.
Broader figures place the unemployment rate much higher then 10.2%. Even without the actual unemployed numbers, assume that each person drawing unemployment once supported a family of three. If that were the case, over 16 million lives have been impacted by a lack of money and jobs.
Read the rest of this entry »
Archived under Economy
Posted by Bill on February 12, 2009 at 10:33 pm
So the title of this post may catch some off guard as there is no “official” trade war. But has America really went to this unofficial war armed with fists to fight an enemy armed with tanks?
Democrats have been pushing an economic stimulus package that includes “buy American” provisions. Many Republicans are concerned such provisions would be the spark to ignite a trade war. You can read more about these buy American provisions here.
But the truth is America has laid down and surrendered well before the trade war ever started. Just look at the casualties - millions of Americans left unemployed and poisonous products made in China sitting on nearly every store shelf. Why would Republicans be concerned about igniting a trade war when we have been getting our butts whipped in the current trade war? Read the rest of this entry »
Archived under Economy
Posted by Bill on October 15, 2008 at 11:53 pm
Most hard working blue collar workers agree that the $700 bailout, plus $100+ billion in pork, is not a solution to the crisis on Wall Street or main street. AIG is a perfect example of that.
Previously it was reported that AIG executives went on a lavish spa retreat after receiving $85 billion in a a taxpayer funded bailout. While people on main street are trying to feed their families and meet their difficult financial obligations, here comes AIG pissing money away on foot massages and aroma therapy. Read the rest of this entry »
Archived under Economy
Posted by Bill on September 23, 2008 at 4:44 pm
Like a racing horse with blinders on, The Bush Administration has blindly raced this country to near economic ruin. The Jockeys in this case are corporate America, led by their huge lobbying efforts over the years. From what we have witnessed over the course of the last eight years, we can not trust giving the Bush Administration $700 billion of our money.
First, let’s look at the Iraq War. Some will argue that there was or was not just cause for invading that country. Few will argue that Iraq was more stable, and less of a threat, under Saddam Hussein’s rule. Many billions of dollars later, Iraq is still unstable and now is home to more terrorists then ever before. Read the rest of this entry »
Archived under Economy
Posted by Bill on September 17, 2008 at 1:32 am
Just when I thought President Bush could not piss any more of our tax dollars away, now his Administration has provided $85 billion to bailout insurance giant AIG.
This latest bailout comes on the heels of $50 billion of our tax dollars pumped into the market to ease the credit crunch.
As each week passes, President Bush and his Administration is handing our tax dollars over to the same companies that sold, managed, and insured sub-prime mortgages. What the President is doing is rewarding the failure of these companies and the damage they caused to many families across this nation.
At what point will this President stop wasting our money? Between the Iraq War, and the bailouts, President Bush is pushing close to a trillion dollars in wasted spending! Any other President would have been tossed out of office, but none of the politicians we elected are prepared to do the job we elected them to do. And that job is to represent the people.
If President Bush is going to bail anyone out, it should be the victims - the citizens that were duped into these high cost loans. That would have done a few things. First, it would have helped families keep a roof over their head. Second, it would have stabilized home values. And finally it would have helped the overall economy.
What President Bush is doing is nothing short of a band-aid fix. The reason why these banks and insurance companies are going belly up is because people are losing their life’s possessions and can’t afford to pay their mortgages. There is a lack of jobs, high costs of health insurance, and energy expenses that have eroded each citizen’s purchasing power. President Bush has ignored the causes of the economic problems in this country and has chosen to throw billions of dollars at the result of the problems. This is yet another failure feather George W. Bush can put in his hat.
It is going to take many years to recover from the financial impact of the bailouts and the Iraq War. And this money will need to be replenished at a time when Social Security and Medicare are going broke. This country is going downhill at full speed, and nobody has their hands on the wheel or foot on the brake. And most taxpayers seem to have their heads in their asses and could care less. Shame on those people!
Many citizens of this country can’t afford to pay their bills, let alone repay all this debt. It’s time that Congress stepped in and demanded a halt to these bailouts. This is the people’s money, and it should be spent on helping the people - not those that have screwed citizens.
Archived under Economy
Posted by Bill on September 15, 2008 at 12:38 am
In yet another blow to the American economy, news reports indicate that Lehman Brothers will file for bankruptcy protection.
How a 158 year old company can go from a high flyer to a dud is simply unbelievable. The greed that has gripped this country, the corporations, and the politicians, has reached an all time high. Without the help of taxpayers, this country would be facing certain economic collapse.
Fortunately for taxpayers, the government (actually our tax dollars) will not bail out Lehman Brothers. This is a good thing. In a free marketplace, there needs to be failure which allows the marketplace to shift and fill in the void. Unfortunately though, taxpayers are still on the hook for billions of dollars because of the Fannie Mae and Freddie Mac bailouts. Read the rest of this entry »
Archived under Economy
Posted by Bill on June 6, 2008 at 11:24 am
Stretched to the point of breaking, many American citizens are coping with high fuel and food prices at a time that their largest investments (their homes) are shrinking in value. Adding to this already stoked fire is the poor employment conditions.
Today, Government released statistics show that the unemployment rate rose from 5% in April to a whopping 5.5% in May. This is the largest increase in unemployment since 1986. In the month of May, employers cut 49,000 jobs. So far this year, the United States of America has shed 324,000 jobs. Read the rest of this entry »
Archived under Economy
Posted by Bill on May 23, 2008 at 11:30 am
With Memorial Day weekend just about to start, consumers are shocked to find that gasoline prices have risen to over $4 a gallon for regular unleaded fuel.
It was just two and a half months ago when President Bush was shocked to learn gas may top $4 a gallon this summer. Click here to view more details (includes the video interview).
It’s truly sad that the President of the greatest country in the world was shocked by a reporter who had suggested fuel prices would reach $4 a gallon. With the use of our tax dollars, the President has many advisers and agencies at his disposal. Even with all this talent and staff, the President had no clue to what was going on with fuel prices.
As gasoline prices continue to increase, I suspect we will see a greater focus on the President’s blunder regarding fuel prices. Some “spoofs” on the President’s lack of insight are already popping up across the Internet. Read the rest of this entry »
Archived under Economy
Posted by Bill on April 1, 2008 at 4:08 pm
It was another exciting day on Wall Street. The Dow gained just under 400 points on beliefs that the United States economy had already hit rock bottom.
If you look at today’s headlines, you will notice that the news was far from encouraging. Some of the headlines include:
Automakers see Sales Fall in March
Truckers Protest High Fuel Prices
European Banks See $23 Billion Sub-Prime Hit
Construction Spending Falls Again in February
Congress Questions Big Oil’s Profits
Food Price Hikes Changing Eating Habits
Manufacturing Activity Contracted in March Read the rest of this entry »
Archived under Economy
Posted by Bill on March 25, 2008 at 9:39 pm
For decades, elected officials have turned a blind eye to the problems facing Medicare and Social Security. A new report released today tells just how dire the situation is.
First, let’s get one thing straight. The media’s use of “entitlement program,” when describing Medicare and Social Security, at times leaves a hint that these are taxpayer giveaways. Taxpayers paid into these systems with the belief it would be there when they needed it. The reality is that decades of failed government were spending this money like a drunken sailor in a bar while on shore leave. Read the rest of this entry »
Archived under Economy
