Drudge and Pravda
Picked up some gems from Drudge this am and added a few
Our country is on a true and fast course to marxism.
Govt owns:
Largest insurance company
One of the largest auto mfgs
Several large int'l banks
Largest mortgage processer and insurer (Fannie and Freddie)
Largest unsustainable debt in its history - US is financially bankrupt by definition
Govt
Is preparing a socialized health care entitlement program
Has the ability and has used it to fire company employees
Is in the process of determining salaries for company employees that it has a stake in (whats a stake - govt contracts, govt tax breaks, stock ????)
Is considering handing money (ownership stakes)to several insurance companies, car dealerships
The bold letters spell marxism by definition
It is all Bush's fault we know the line. But this has happened in 6 mos.
Ya know the frog in the pot story - we are the frogs and we love it duh
Just my rant - no WLS msg except now we can be boiled skinny LOL
Alot of this came from a story in Pravda as a lesson we need to learn
I considered not responding to this post or just sending you a PM. However, as I thought about it I thought I might as well provide my Liberal views. Note: I'm not a Liberal on everything, but I agree with most of the economic actions taken by the new administration. The criminals in charge of the largest insurance co as well as some of the large banks bankrupted them and the govt is just trying to provide a safety net for the millions of citizens who got ripped off. Ditto for the mortgage companies. As far as socialized health care is concerned, I think the proposals don't go far enough. I'd prefer socialized medicine like they have in most countries but that is not what President Obama is proposing. Rather, he is asking that everyone be eligible for health ins like Congress or Fed employees. This is not socialized medical insurance. It's more like a requirement for medical insurance like most states require auto insurance. You can choose the coverage you want but you must have some coverage. Under the Fed plans, there is a periodd of time every year when you can change plans without being penalized for prior medical conditions. Typically you pay a portion of your coverage premiums and the govt pays part. You still have co-pays and deductibles. Supposedly, companies would pay part also, but I suspect many of them would simply do away with what little coverage they now provide. You'd still have a choice of a wide variety of health plans. I say this as a retired Federal employee who has been covered under the Federal system for the past 29 years ( while working and while retired).
I don't know about the takeover of the auto companies. As I understand it, Ford just wanted a loan guarantee and they plan on paying it back. Chrysler has been in poor shape for a long time and will likely end up being owned by Fiat ( Fiat? give me a break), I don't understand the GM sintuation. They should have dropped brands years ago and saved on duplication of management. I guess the govt has to keep them afloat because of all the gov't contracts they have. I don't know how bad the economy would become if GM went under and no one--including the gov't tried to bail them out. Let's face it, a lot of our competition in the auto world has help from their countries' governments.
I hope I'm not being contoversial by stating my views, but I do see things differently than you. By the way, my family has not really been hurt by the financial situation yet. My wife was laid off 12-31-08 but she knew that was going to happen since last July--she was working for an ins company that was being sold. My parents have investments and didn't lose a penny. I'm retired and my house is paid off ( don't ask me about the horrid NJ property taxes). My brother's family are all professionals and well off except for his youngest son who is still in college.
But, I do know people who have lost a bundle on retirement accounts. I see and hear about self-employed people who can't get adequate health insurance or retirees who have had their coverage gutted. I just think we need a plan that will act like a safety net. Bob
I don't know about the takeover of the auto companies. As I understand it, Ford just wanted a loan guarantee and they plan on paying it back. Chrysler has been in poor shape for a long time and will likely end up being owned by Fiat ( Fiat? give me a break), I don't understand the GM sintuation. They should have dropped brands years ago and saved on duplication of management. I guess the govt has to keep them afloat because of all the gov't contracts they have. I don't know how bad the economy would become if GM went under and no one--including the gov't tried to bail them out. Let's face it, a lot of our competition in the auto world has help from their countries' governments.
I hope I'm not being contoversial by stating my views, but I do see things differently than you. By the way, my family has not really been hurt by the financial situation yet. My wife was laid off 12-31-08 but she knew that was going to happen since last July--she was working for an ins company that was being sold. My parents have investments and didn't lose a penny. I'm retired and my house is paid off ( don't ask me about the horrid NJ property taxes). My brother's family are all professionals and well off except for his youngest son who is still in college.
But, I do know people who have lost a bundle on retirement accounts. I see and hear about self-employed people who can't get adequate health insurance or retirees who have had their coverage gutted. I just think we need a plan that will act like a safety net. Bob
Well, I knew I would here from ya. I'am not a rino or a republican, and I do believe a bunch of greedy and reckless individuals gave risk a new name.
Let me get back to reading your post
I just finished reading your post. We may see things differently. I'am a capitalist who has worked in a free enterprise environment most of my adult life. I have made considerable sums and lost the same. It was always the independence of the journey for me. Enough said about that. The frogs will boil. The debt is unsustainable. Bonds will have a drop in ratings and be to expensive to sell to china, india and the teachers pension funds..
Using my tax $$ to stimulate or bailout private companies that we in turn are owners of said companies can be argued not what our founding fathers had in mind.
We have allowed unbelievable powers to the executive branch due in part to a honeymoon atmosphere in DC.
The govt now has the power to place in control of Board of Directors of GM and Chrysler. AIG, Prudential, CitiCorp. Even Roosevelt would'nt have gone that far
I'am in a wait a see mode. The water in the pot is getting warmer, but as I told my son I dont need to worry about it. As I'am past retirement age you can pay for all this. When mistakes are made and promises are broken, it will be your dollars that will be used to fix it. Hey, son, I just gave another 35billion from you to pay GM not to go bankrupt.
But alls well GM is now yours and the unions. Question, do any of those players know how to run a car company. Wait, Washington will throw money at it just to keep the job machine running. Its about Power. The money trail has been covered by the power exerted by the president. Which companies are NEXT??? Which fortune 100 BD of Directors feels like they have control of their companies??? I learned in business school that bad management usually spells failure and I have taught the same at the college level. These actions reward failure. Gonna need new text books LOL
Good luck
Let me get back to reading your post
I just finished reading your post. We may see things differently. I'am a capitalist who has worked in a free enterprise environment most of my adult life. I have made considerable sums and lost the same. It was always the independence of the journey for me. Enough said about that. The frogs will boil. The debt is unsustainable. Bonds will have a drop in ratings and be to expensive to sell to china, india and the teachers pension funds..
Using my tax $$ to stimulate or bailout private companies that we in turn are owners of said companies can be argued not what our founding fathers had in mind.
We have allowed unbelievable powers to the executive branch due in part to a honeymoon atmosphere in DC.
The govt now has the power to place in control of Board of Directors of GM and Chrysler. AIG, Prudential, CitiCorp. Even Roosevelt would'nt have gone that far
I'am in a wait a see mode. The water in the pot is getting warmer, but as I told my son I dont need to worry about it. As I'am past retirement age you can pay for all this. When mistakes are made and promises are broken, it will be your dollars that will be used to fix it. Hey, son, I just gave another 35billion from you to pay GM not to go bankrupt.
But alls well GM is now yours and the unions. Question, do any of those players know how to run a car company. Wait, Washington will throw money at it just to keep the job machine running. Its about Power. The money trail has been covered by the power exerted by the president. Which companies are NEXT??? Which fortune 100 BD of Directors feels like they have control of their companies??? I learned in business school that bad management usually spells failure and I have taught the same at the college level. These actions reward failure. Gonna need new text books LOL
Good luck
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