[Rhodes22-list] Politics: Pat Buchanan or Stan's solution

[stan]

as long as I am sitting here not feeling like working I'll tell you what to 
do:

we went "over there" to save us here but if we die, there is nothing to save 
so what the hell.

pull out of both wars today

close all overseas bases and save their costs, today

stop all foreign aid - when you are dying, charity begins at home.

stop all corporate taxes now - they are only another source of taxing 
citizens in the form of a disguised sales tax

do away with all other taxes except the income tax and tax the hell out of 
those who won't feel it,
    and except the inheritance tax; raise it to 100% for those who do not 
deserve that free ride.

switch over from our morphed socialist country to a true capitalist country 
where the country is in business to make money (so there is no need for an 
income tax)  by owning the stock of energy, transportation, communication, 
health (stem cell and medicine) banking and others I will think of, BUT 
where that ownership is in the form of competing companies with CEOs whose 
job pay and length is tied into their success with their divisions.  (You 
can get the best business talent to take these jobs without breaking the 
divisions coffers if we pay them more than the president and less than the 
current Wall Street robber barons)

print money and develop energy, not in 10 years, but today.

subsidize the space industry, the car industry, the medical industry, the 
health industry (prevention is so much cheaper), the educational industry (I 
can't believe how low we rate in the current world)  .....  I will think of 
others like the vertical computerized farming industry that on one acre can 
turn out 20 acres or more of produce

and get back into the export business - all sorts of export from body parts 
to plane parts    even sailboats

Then, when we are back on our feet, go back to our old dumb ways.

ss

----- Original Message ----- 
From: "Bill Effros" <bill at effros.com>
To: "R22 List" <rhodes22-list at rhodes22.org>
Sent: Saturday, September 27, 2008 9:15 AM
Subject: [Rhodes22-list] Politics: Pat Buchanan


> Brad,
>
> What is your answer to Pat Buchanan?
>
> Bill Effros
>
> Day of Reckoning
> by  Patrick J. Buchanan
> <http://www.humanevents.com/search.php?author_name=Patrick%20J.+Buchanan>
> 09/26/2008
>
>
>
>
>
>
>
> How did the United States of America, the richest nation on earth, whose
> economy represents 30 percent of the Global Economy, arrive at the
> precipice of a financial panic and collapse?
>
> The answer lies in the abject failure of both America's financial elite
> and the political elite of both parties -- the same elites now working
> together to determine how much of our wealth will be needed to bail the
> nation out of the crisis of their own creation.
>
> Big Government is riding to the rescue -- saddlebags full of our tax
> dollars -- to save us from the consequences of the stupidity and folly
> of Big Government. New York and Washington, the twin cities responsible
> for the crisis, are now being hailed by the media as the 7th Cavalry,
> coming to rescue a beleaguered nation.
>
> ------------------------------------------------------------------------
>
>
> Had there not been a steady and constant infusion of easy money and
> credit into the U.S. economy by the Fed, for years on end, a housing
> bubble of the magnitude of the one that has just exploded could never
> have been created.
>
> Had the politicians of both parties not coerced and pressured banks,
> S&Ls, Fannie Mae and Freddie Mac to make all those sub-prime mortgages,
> then to tie this rotten paper to good paper, convert it into securities
> and sell to banks all over the world, there would have been no global
> financial crisis.
>
> Had they seen this coming and acted sooner, the Federal Reserve and U.S.
> Treasury would not today, like Henny Penny, be crying, "The sky is
> falling!" and the end times are at hand, unless we give them 5 percent
> of our gross domestic product to buy up suspect securities backed by
> sub-prime mortgages.
>
> Consider what the "Paulson Plan" of Treasury Secretary Hank Paulson,
> against which Sen. Richard Shelby and the House Republicans rebelled,
> entails.
>
> Since Americans save nothing and have to borrow from abroad to finance
> our trade and budget deficits, wars and foreign aid, what the secretary
> proposes is this: that Congress authorize the Treasury to spend $700
> billion to buy up the toxic paper on the books not only of U.S. banks,
> but of foreign banks operating in the United States. According to The
> Washington Times, the Treasury would also be authorized to buy up
> securities backed by rotten auto loans, student loans and credit card
> debts.
>
> Thus America would be borrowing from China, Japan and the Middle East to
> tidy up the balance sheets of the banks of China, Japan and the Middle
> East. And all the rotten paper will be offloaded onto U.S. taxpayers,
> who hopefully will be able to recoup some of their losses, because some
> of the paper will be good.
>
> Why should we do this? Because otherwise there will be a financial
> panic, followed by a market collapse, wiping out pensions, 401Ks,
> portfolios and defined benefit plans of Middle America, forcing millions
> into bankruptcy and millions more to put off retirement and continue
> working until they drop.
>
> In a democracy, it is said, you get the kind of government you deserve.
> But what did the American people do to deserve this? What did they do to
> deserve the quality of financial, corporate and political leadership
> that marched them into this mess -- and that today postures as their
> rescuers?
>
> Consider what this mess has already cost taxpayers: $29 billion to buy
> the rotten paper of Bear Stearns so J.P. Morgan would buy the investment
> bank; $85 billion for 80 percent of AIG to nationalize it; $150 billion
> in a stimulus package to flood the nation with cash; perhaps $300
> billion to bail out Fannie Mae and Freddie Mac; and now $700 billion to
> begin taking the toxic paper off the hands of America's big banks.
>
> And even if this is passed, say Paulson and Fed Chairman Ben Bernanke,
> there is no guarantee this will resolve the crisis. If the $700 billion
> is not provided and the toxic paper is not pulled off the books of the
> world's banks by U.S. taxpayers, however, we face an almost certain
> collapse, surging bankruptcies, rising unemployment, a shrinkage of GDP
> and a recession, if not worse.
>
> Yet, the fellows who tell us we face a financial mushroom cloud over
> every American city if we do not act at once to provide the $700 billion
> did not see this coming and can make no guarantee that this will succeed
> and end the crisis.
>
> Nevertheless, it must be done, and done now, as collapse is imminent.
>
> Looking at all the money being ladled out by the U.S. government to
> prevent a collapse, and the diminished revenue coming in, it is hard to
> see how America avoids future deficits that reach $1 trillion a year.
> These will imperil both the dollar itself and the ability of the United
> States, which saves nothing, to borrow from the rest of the world. The
> downsizing of America is at hand.
>
> Yes, indeed, we have arrived at the Day of Reckoning for Uncle Sam.
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