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

[Brad Haslett]

Stan,

Never knew you were a drinking man!

Brad

On Sat, Sep 27, 2008 at 9:26 AM, stan <stan at rhodes22.com> wrote:
> 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.
>> __________________________________________________
>> To subscribe/unsubscribe or for help with using the mailing list go to
>> http://www.rhodes22.org/list
>> __________________________________________________
>
> __________________________________________________
> To subscribe/unsubscribe or for help with using the mailing list go to http://www.rhodes22.org/list
> __________________________________________________
>