"The Fundamentals of our Economy are strong." -John McCain, Agree or Disagree? What are the fundamentals of our economy? He explained the fundamentals of the economy is the American people and capitalism, and he is right. The problem has not been the fundamentals, or foundation of our economy, but Government bureaucracy, and dare I say, socialism, that has counteracted the effects of the free market in a disastrous way in recent History. Housing, Energy, and Manufacturing (specifically Automobile) are three of the obvious problem areas. Government paved the way for lenders to lend to the "unqualified" borrowers by guaranteeing these loans with taxpayer money, which not only produced billions in bad loans, but putting the risk on the taxpayer. Everyone should own a home right? (who cares if they can afford it) No risk sounds like a wonderful reason to overextend yourself if you are a bank. Lenders are thinking, Hey, with house values going up who cares if we foreclose on bad loans, we get a free house right? Except that because of the run on the housing markets, house values were inflated, and when these "interest only" adjustable rate loans were "adjusted" upwards because of rate increase the bubble burst and banks are getting stuck with devalued houses.
Has anyone noticed that oil is around $95 a barrel but Gas prices are Still $3.80? Raise your hand if you know why! Whats that? we have no refining capacity? I support the Drill Baby, Drill, but once we get the oil out of the ground, who is going to turn it into gasoline? Oh yeah, nobody! Anyone ever heard of the Government imposed Clean Air Act of 1990. So what has caused our Energy crisis? It starts with a G and ends with overnment. I will let you figure it out. I am tired of hearing that oil companies are raping us, when their actual $ per gallon profit margin is a fraction of the government's take per gallon of gas.
GMAC is tearing it up in China, Europe and Latin American but not here in the US. Once again our politicians and the EPA have felt the need to shackle the Auto industry with over burdensome fuel mileage restrictions. This was their excuse for asking for a $50 billion bailout. They claimed that adhering to these government regulations have caused them twice that much in recent years. But all of this is Bush/McCain/Capitalism's fault. So I do agree that the fundamentals of our economy are strong. It is government that has gone beyond oversight and regulation into tampering with the free market. They have a wonderful track record with Social Security and Medicaid, and now Mae and Mac. I can't wait until they control universal health care! By the way check out this article from 3 years ago about Mae and Mac! Also take a look into this bill that McCain sponsored 3 years ago on this issue!! WOW! I also wonder what impact 2 wars, 2 of the worst natural disasters in our country's history, and 9/11 have had on our economy in the last 8 years??
1 week ago
4 comments:
The mainstream media is saying nothing about Obama's economic advisers working with Fannie and Freddie or Lehman. They would jump on that if it were McCain's advisers.
No kidding. It is frustrating!!
Check this article out:
http://www.philly.com/inquirer/opinion/McCain_a_Bush_clone_These_numbers_dispute_that.html
A John had it right, the fundamentals of Our economy are good, trouble is the democrats and government keep messing them up, what with all the "Programs" to help the poor, you cant help the poor putting them in loans and houses they cant pay for, you cant help the poor fooling them into thinking you are going top "Save" them, while filling the Bilges of their ship with water, you cant help the poor, till the poor take some responsibility for themselves, and looking to the Taxpayer for Handouts and Housing isnt the way to accomplish anything.......but more of the same mentality, the poor are poor because of choices they make, they are the ones choosing to drop out of schools infavor of a little cash now....I know I am one of them, I dropped out at 16 in favor of not going to school and just getting a job, now at 58 I have the trades and knowledge to make decent money, but thats only because it took 40 years to get there, the State should mandate kids be in school, or NO help what so ever, if we dont penalize these kids and parents this will just continue, we also need to revamp vocational training in this country, not all these kids are going to be Bankers and Attorneys, we need to make it easier to train this kids in other trades like Welding, and Electronics, and many other fields, If I ran the schools, we wouldnt be buying new busses all the time, we would be rebuilding engines in thew Vo Tech Shops, Brakes, Suspensions, Body work, Electrics, and Upolstery in the schools, not paying a lot of money to others to do what these students need to be learning, it seems the schools are more interested in Transporation now, than they are teaching.......
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