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You Republicans Brought Us The Great Depression
YOU REPUBLICANS BROUGHT US THE GREAT DEPRESSION Watching the debates, I wished Barack had turned to McCain and said: Hold on. Let’s get a little historical perspective here. It was you Republicans that brought us the Great Depression of the 1930's. Don’t forget, following the stock market crash of 1929, Republican President Herbert Hoover’s pro business-at-all-costs agenda only beat us deeper and deeper into depression. Remember, the last time the voter’s demand for change had to wait three more years, until the election of 1932, when they swept in President Franklin Delano Roosevelt. And it was the Democrat’s people-first programs that shepherd the American people through the hardships, pain and fear that burned lasting scars on a whole generation. Then, straight at the camera: Just as with the Great Depression, yet again, a Republican Administration has nurtured a recklessly unregulated financial system, throwing our economy into the worst crisis since their free market policies did it the last time. But this time, we don’t have to wait three years to vote for change. Don’t be fooled by campaign promises, squeezed out of John McCain by outraged voters. Until just a few weeks ago, he was the staunchest booster of Present Bush’s financial policies that have brought us to the brink of the greatest economic catastrophe in American history. And people should not forget this too. As bad as things are, they sure would be a whole lot worse if we Democrats had not beaten back John McCain and the Bush Administration’s drive to privatize the best of F.D.R’s programs. Imagine the panic sweeping the county if Social Security payments - the only retirement security for millions of Americans - were locked in today’s stock market. Far too much is at stake to trust another business friendly Republican Administration to enact, and enforce, the hard measures necessary to reign in our out of control economy. America’s recovery will take nothing less than a bold program of far reaching reforms - changes that will not be painless to Wall Street and its culture of greed and corruption. So, make no mistake. It is my Democrat Administration that you can trust to deliver the sweeping change that America needs.
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What I see
These are only my personal feelings and
I do not claim to have any inside track to knowing anything for
certain more than anyone else.
We now seem to be in a time when many
things are going through major changes all at once. This is bringing
much uncertainty and fear to the masses across the globe which only
helps to make it seemingly worse.
First some background as I see it:
banks- the original purpose of
banks was to be a safe place for people to put money in and then
people could also borrow against that money to do things they would
not normally be able to do as quickly. You could also earn interest
on that money if it was put in some type of savings account because
that was a type of reward for not using the money so the bank could.
This in turn allowed them to help other people in need of money
with the intent of it being payed back. Now they also required the
payee to pay a form of fees called interest for the privilege of
using that money.
Wall Street – The original
purpose of wall street was to allow people to invest in companies
which in turn allowed those companies to expand and make more and
better products and to create more jobs so that people in turn could
earn money in two ways. One is to earn interest from your
investment as that company improved its earnings. The other was to
gain employment from the company's expansion.
Now forward ahead several years and as
more and more people began to use the banks they began to have more
and more wealth and looked for more ways to grow and invest and earn
more and more profits. So lots of money began pouring into wall
street looking for more and more opportunities to realize incredible
profits.
At that point is where everyone began
to get greedy. Banks looked for more and more ways to get our money
to invest, companies grew and grew and became major corporations on a
world scale, and people saw more and more opportunities to invest
their money. And all of this with the hopes of realizing more and
more profits.
Then everything began to explode out of
control. Businesses began paying ceo's more and more money as the
value of the companies became more about their stock value than their
products. The products by the way got cheaper and cheaper and their
lifespan grew shorter and shorter and their quality dropped off
considerabley as everything began being mass produced. Also the
banks began to take greater and greater risks with their money as
they saw bigger and bigger profits to be had . At the same time we
individuals began to invest more and more of our money in the hopes
of greater rewards.
It is at this time that our system
became more like a gambling casino and less like an honest system of
people with elected officials looking out for their best interest and
these corporation began using their considerable money's and stature
to influence if not outright dictate policies of governments across
the globe. The banks also wanted in on this action as well and wall
street at the same time became more like a casino and then even
rumors and gossip or well placed comments began to cause market
reactions one way or another.
It is like when you go to a gambling
house and the rule is the house is only going to let you win so much
and then the house is going to get its money back. Hence the saying
“the house always wins”.
Anyway we are now where we are because
everyone became greedy and needy. We must have two of everything,
everyone must have a six passenger vehicle to ride in alone, we need
homes and vacation homes and tv's in every room, and we can't go
anywhere without a phone and a computer and a pda, and on and on.
Now granted consuming goods helps the
economy and we do gain from consuming but we need to sit back and
take a look at what our consuming at such a pace does to put a strain
on people, societies, and the earth. We are chewing up resources at
a ridiculous and perilous pace. And by doing this we risk our health
and even our lives. This is because these thngs cause countries to
set boundries and vie for these resources and risk wars to get them
(wouldn't sharing be safer and more beneficial). So now here we are,
many claiming the end is near and armageddon and peril at every turn
and blah blah blah.
But what I see is that people still
need each other to get through things. There is still food growing
from the land that people need to eat. There is still companies
large and small creating jobs and products that people need to
survive and people are still buying them. We still have to wake up
every day and get by and it is always better to get by together than
to fight each other for those things we need to get by. Yes people
the world still goes around and we are still here and the things we
can control are making corporate leaders and politicians and bankers
follow the rules they are required to follow and not allow them to
take advantage of us. And if they try we can stop buying their
products, or using their services, or voting for them. And we can
set rules to keep them from allowing such behavior.
So basically what I am saying is that
we still have things and make things and people still need things and
in cooperation we all stand to gain and the sky is not falling unless
we believe it is. It is just changing. Yes we are all being brought
to equal footing so that we can remember we are all here in the world
together and that no one is better than another no matter color,
religion, or whatever and we can only continue as one entity helping
each other for the common good, not ruled by some king or dicatator
or whatever but as one equal entity caring and sharing with
compassion, patience, trust, honesty.
Remember this: whosoever wishes to
live as a conqueror will eventually be conquered. And living by the
sword or one upmanship or whatever you want to call it will not stand
as we will all lose.
There is a song called “we are the
world” few things are closer to real truth in our physical world.
The very serious question is what kind
of world are we creating and what kind of world do we really want
because it really is coming to a time when we must make that choice.
And yes there are two paths. We will continue on but let us take
this opportunity to correct our mistakes and move towards a more
peacefull, equal, desireable world where everyone is important and we
take right actions instead of wrong ones.
This has nothing to do with religion. It is about surving and thriving in a changing world using common sense rather than fear.
To fix this crap the
To fix this crap the government would have to legistrate moralities, greed. One of the seven deadly sins. Think they will have any luck? The churches haven't. The french did pretty good with their revolution, they excised an immoral ruling class. Maybe we should take a cue from them. The french don't care how messed up your sex life is while in office, just don't mess with the peoples money. In the USA it is, we don't care what you do with our money(or use questionable accounting practices to hide the money), just don't have sex.
No, the government doesn't
No, the government doesn't need to legislate greed or any other "sin," although the current crop of neoconservatives, including McSame/Palin, would dearly love to be able to enforce their particular religious-right views of "morality" through a fascist theocracy.
All that needs to be done, is to reinstate the regulatory checks and balances which have been in place since the New Deal. The Dubya neocons silently did away with those regulations, and allowed their corporate friends to "legally" rob our treasury.
Democrats will need to resurrect the New Deal philosophy of regulated American-style Capitalism, in order to restore faith in the US economy.
Here's a thought
One of the roots of the problem is we over value everything under the sun so we can borrow against it in some way. Local governemts over value our property to collect higher taxes so they can borrow for public works and fancy buildings and street repairs and nice salaries.
Corporation over value their goods and their STOCKS so they can borrow against it to expand there business or buy new equipment or pay ceo's rediculous salaries and pay dividends to stockholders. Banks and credit unions over value whatever people have so they can loan them more money than the people can sometimes afford to pay back.
This is the system that we live in and we have all bought into it in order to do business. We have quietly become a nation of people and companies and governemts living beyond our means.
We choose to do this because we want the shiny stuff with the cool technology and the flashing lights and the loud cool noises they make so we can tell each other that we got all this cool stuff and that makes us cool. So we work our butts off trying to by the cool shiny stuff we usually don't need cause it makes us think we are cool and gives our lives false meaning.
I am not saying there is anything wrong with having nice things but we have all become borrowers to get it rather then wait until we can afford it. This is one of the roots of the problems.
Oh yeah and W and his wild bunch say "it's Patriotic"...........
When you say "we over value
When you say "we over value [sic] everything," exactly who is the "we" you are speaking about?
I have no influence on what the open market (remember Economics 101: supply and demand?) determines the value of my home to be, other than to improve (or degrade) it in some way. I have no influence over what the price of a gallon of gasoline is today, other than to buy less (or more).
The facts of the matter are, that in a free market society, "value" is determined by buyers and sellers, consumer needs, and the ability of the marketplace to fulfill those needs, and the ordinary cyclical flow of supply and demand. "Value" is determined by everyone, while "needs" are determined by individual consumers. I don't "need" a Lexus, but I do need transportation. My employer does not "need" me specifically, but he/she does need labor. No one "needs" gourmet food, but we all need to eat.
Simplistic statements such as "we overvalue everything" neither addresses the real issues, nor the root causes of our current economic crisis. Those root causes include (but are not limited to): deregulation of American-style capitalism, the outright purchase of the Republican-controlled government by corporate criminals over the past several years, and those who have been stupid enough to vote against their own best interests.
The "American Dream" has always been funded with credit. What is missing in today's environment, however, is the New Deal accountability and responsibility that was formerly attached to extending credit. We have the Newt Gingrich/Ronny Raygun neoconservatives to thank for that bit of social immorality, as they have been extremely successful in destroying every last vestige of American fiscal integrity, and American compassion, and replacing them with fascist supply-side economics, while using hateful and bigoted religious-right "family values" as a diversion.
So please do not include me in your "we" when you attempt to lay blame for the neocons' fiscal and moral failings, or their anti-Constitutional treason. I pay my bills (and taxes) on time, and I vote Democratic.
Some thoughts on Markets:
THAT is the difference between Liberal Science and dogmatic Libertarianism/Conservatism.
The truth is more complex than Right Wingers and Communists make it out to be.
Markets fail all the time because of the above. The question that remains, once dogma is put aside, is to what extent we can do better or worse, via imperfect tools: our elected representatives.
TROLLS.
I thought I'd save the trolls some breath...
There are always two questions when it comes to economics:
1) ETHICS
2) ACCURACY
Decide which argument you wish to advance against what I wrote above, but don't shift to the other in midstream because you begin to lose the argument in the initial category.
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So is what I said in the previous posit accurate or not?
If accurate, we can proceed to what, if any, alternative ETHICAL/MORAL avenues are available to Americans. I posit that elected representatives offer such an avenue that, at least in theory, could do better than free for all chaos.
Jim
Too true Jim. Unbridled
Too true Jim. Unbridled Capitalism, like unchecked power, corrupts absolutely. Because of base human emotions, mainly fear and greed, there can be no other outcome.
American-style Capitalism, on the other hand, still allows for fear and greed, and an imbalance of wealth, but also provides checks and balances on the absolute limits allowed. Our "representatives" are responsible for the laws required to ensure the limits are established and enforced.
American Liberalism provides a safety net for those who are unable to survive below the allowable limits. American Constitutional justice provides a safeguard against those who would abuse the limits and safety nets, on both ends of the spectrum.
The Consevative Case for Liberal Economics
Lest the brainwashed faux conservative male fret about limp wristed liberal straw men, I want to be clear:
One may simply insert "AMERICAN" instead of "LIBERAL". Same thing.
I am not advocating that the mob can man handle the minority.
I am advancing that CONSERVATIVE sensibilities demand Liberal (or if that word is too trounced) AMERICAN Economics.
Examples of what folks have lost site of:
Folks who come to a collective decision via the voting booth are not, NECESSARILY, man handling others. They might be, as in Communism, but not NECESSARILY.
Jim
Safety net fractions.
I would add Bill, that only a fraction of the social safety net comes from American sensibilities about our brethren.
The rest comes from an implicit understanding of the web of economic, defense, biological, etc. ties that bind us. From the complexity of time scales: E.G. the powerful wanting to make the last buck now VERSUS the majority needing to consider a lifetime in order to raise kids for our armed forces, the work force, etc.
The Communists and the Right Wingers wish for a world that can never exist. It's simply a bit more complex.
Jim