Thread: What is everyone hearing?

I can explain how this happened in a freaking nutshell to anybody who has taken economics 101. If you haven't, trust me on the basics I will explain right here.

First rule: Price controls cause shortages. It is the reason that Canadians come here for health care, and it is the reason that the anti-price gouging statutes in the South have a couple cities without gasoline. Same economic law in play: price controls create shortages.

Second rule: When demand rises, supply goes down. When supply goes down, prices rise. If prices aren't allowed to rise, see Rule 1.

Now, the credit market was sold to us in every way, shape and form we can think of. Cars, houses, groceries....lots of people were constantly dipping into that supply of credit. (Note that word: supply, and check Rule #2 again.) That constant "dipping" is demand.

Ok? with me so far? So demand was going higher and higher, and supply was decreasing. OK, cool, but what was price doing? Price (which we know as "interest" - our cost of borrowing money) was lowered and lowered and lowered by Greenspan, and then Bernacke.

See Rule #1. Price controls cause shortages.

Here is somehting else to back up my last post. This was sent as a blog from the Pastor at my church. He is very unlike any other Pastor I have ever seen. A younger guy in his mid thirties, used to be a lead singer in a punk band and still listens to ACDC. That being said he has been an influence in many lives and is a joy to listen to. Anyway here is what he has to say about the Great Bail Out:

Friday, September 26, 2008

I am not usually like this

With Wall St and our Government currently in a tailspin I am reminded of this

Ezekiel 16:49-50 " 'Now this was the sin of your sister Sodom: She and her daughters were arrogant, overfed and unconcerned; they did not help the poor and needy. They were haughty and did detestable things before me. Therefore I did away with them as you have seen.

The government paying 700 Billion Dollars that will bail out greedy rich executives? No consequences? Peoples pensions and life savings wasted away while they retire with millions of dollars? We are reaping what we sow


Shame on The Republicans and the Democrats

Vote for Jesus

Feinstein just said that 50,000 people have contacted her and the overwhelming majority want no bailout of any kind, bu then she said that she believes something needs to be done anyway.

Hello? No taxation without representation ring any bells, you thick headed .... never mind. Wasn't very ladylike.

Originally Posted by AngelaTC

Feinstein just said that 50,000 people have contacted her and the overwhelming majority want no bailout of any kind, bu then she said that she believes something needs to be done anyway.

Hello? No taxation without representation ring any bells, you thick headed .... never mind. Wasn't very ladylike.

They are going to do what THEY think is best and to hell with everyone else. We are screwed and so our our kids and grandkids. No wonder they are gearing up for Martial Law!!!!

I may eat my words later, but I think they should just let the chips fall where they may. If we go into a dperession, then so be it! We go out of it before and will be a stronger country for it later! We have been living too fat and happy for too long! Time to get back to basics! This rampant "I want it now" materialism has GOT to STOP!

Originally Posted by AngelaTC

Feinstein just said that 50,000 people have contacted her and the overwhelming majority want no bailout of any kind, bu then she said that she believes something needs to be done anyway.

Hello? No taxation without representation ring any bells, you thick headed .... never mind. Wasn't very ladylike.

I think that is much more realistic, especially when I hear other Congressmen saying the same thing. Most Americans want NO BAILOUT what so ever.

However Check out what USA Today printed, "Nearly eight out of 10 Americans — 78% — say Congress should approve a historic bailout of the nation's financial markets, but most want lawmakers to significantly modify the Bush administration's $700 billion plan, according to a new USA TODAY/Gallup Poll."

I just called, faxed and emailed Feinstein.

SO make that 50,001.

However Check out what USA Today printed, "Nearly eight out of 10 Americans — 78% — say Congress should approve a historic bailout of the nation's financial markets, but most want lawmakers to significantly modify the Bush administration's $700 billion plan, according to a new USA TODAY/Gallup Poll."

i guess that's what THEY need the sheeple to believe. Keep calling and faxing!!!!

I just heard that Feinstein's husband is an investment banker!

Gee, no conflict of interest there.

I wanted to share these links FYI, from a financial talk show host Dave Ramsey.

Here he gives a summary of the origins of the crisis:
Dave Ramsey Explains Sarbanes-Oxley & Financial Crisis

And on his archived shows for 9/22 & 9/23, he gives alot of insights to his many callers who are naturally quite worried:
http://www.daveramsey.com/tdrs/

What say you all to this? Have you heard anything about this possible solution, which he says is being discussed behind the scenes in D.C.?

Rick Roberts was filling in for Michael Savage yesterday, and was hitting this HARD. On several occasions he said, "No amnesty for illegals, and no amnesty for Wall Street!"