Jim: as usual I agree with you however you need to make one more point.
the damn govt needs to CUT SPENDING.
also, I sen this out with a sender's footnote: Podunk is in Maine, not
Louisiana.
On Wed, Sep 17, 2008 at 10:49 PM, Jim Willis <
[EMAIL PROTECTED]> wrote:
>
> I didn't read thorough your entire presentation. I do, however am
> certain the collapse of Fannie and Freddie are the constant ills we
> face. And, that is the dominion of the democrats. Jim Johnson and
> Franklin Raine's, both CEO's of Fannie and Freddie are attached to
> Barry's campaign. It all started with these two corporations.
>
> On Sep 17, 10:35 pm, VT Sean Lewis <[EMAIL PROTECTED]> wrote:
> > Hey Jim what do you think of this FACT based solution?
> >
> > The Cascade Effect, the collapse of the US economy.
> > How did it happen, and how do you stop it.
> >
> > September 17, 2008
> > Sean Lewis
> >
> > I have been writing about this before the Iraq invasion.
> >
> > I had hoped that if I wrote about it, someone would have
> > heard the warning and avoided this financial collapse.
> >
> > The bottom line the Bush Tax Cuts are the main cause.
> >
> > The US government needs income to run.
> >
> > Without the income the US government must borrow funds
> > from other sources.
> >
> > The more the US borrows, the higher the US Debt goes and
> > the larger the payment on the Debt Interest becomes and the
> > more money the US needs to borrow,
> >
> > The double edge is that as the Debt grows the faith in the US
> > Economy and the US Dollar declines.
> >
> > The US dollar has fallen by almost half against every major
> > currency.
> >
> > The Bush Tax Cuts did not fulfill any of the claims promised.
> >
> > More money to the rich did not stimulate the economy, did not
> > create 15 million jobs, did not balance the budget or lower
> > the debt and did not increase revenues.
> >
> > When people make more money than they need they keep it,
> > they do not give it away. Greed creates Greed.
> >
> > The increase in revenue came from the increased profits from
> > abroad either from exports or profits from US international companies
> > taking advantage of the US currency drop and padding their
> > Earning Reports with profits made overseas.
> >
> > Add to this mix US companies exporting not only jobs but
> > entire industries overseas to maximize profits at the cost of US
> > citizens and you have the second leg of the collapse.
> >
> > The American middle class, the true engine of the US economy was
> > under siege.
> >
> > Americans were losing their jobs at the same time interest rates were
> > rising and core inflation WITH food and fuel were exploding higher.
> >
> > Interest rates were rising so that Foreigners would buy the US
> > Treasuries
> > to finance the DEBT. Unfortunately the American middle class had
> > Adjustable
> > Rate Mortgages tied to the interest rates. So American Mortgage
> > payments
> > increased beyond their ability to pay.
> >
> > Foreclosures began, and created a falling real estate market. The
> > more
> > foreclosures the more home prices fell. Middle Class Americans had to
> > make a decision, sell their homes at a lost or hold on in hopes that
> > things
> > would turn around.
> >
> > Unfortunately not only did things NOT turn around, things became
> > worst.
> >
> > The Fuel from Food program accelerated the decline of the economy. It
> > created a spike in grain prices and food costs and did little to
> > reduce the
> > price of oil products.
> >
> > The new law making bankruptcies harder and also no longer protecting
> > people from losing their homes, which means Americans could not
> > attempt any financial remedies to restructure their debts.
> >
> > Financial institutions looking for a new way of making money, linked
> > up with mortgage brokers to securitized loans in early 2001 to 2003
> > with creative vehicles such as no money down, interest only, 5 year
> > balloon ARM's.
> >
> > Everything looked good on paper but was hinged on one thing, the
> > continued
> > strength of the Middle Class, which I have shown was under heavy
> > siege.
> >
> > As America's fell behind on their payments the securitized mortgages
> > were
> > not receiving payments so began to lose value. As the housing market
> > continued to collapse so did the securitized instruments.
> >
> > So here we are. I streamlined this, there were a few other issues,
> > irresponsible spending, off budget expenses of two wars and Katrina.
> >
> > How do we fix it?
> >
> > Painfully.
> >
> > There is no easy fix.
> >
> > The US Debt most be reduced. The economy must be stimulated.
> > The middle class most have jobs. The long term costs of Medicare
> > medicaid and social Security must be addressed.
> >
> > The tax cuts must be rescinded.
> >
> > Government spending must be reduced and pay/go instituted.
> >
> > The age at which retirees can claim benefits must be extended by one
> > month a year and benefits will have to be means tested.
> >
> > The alternative minimum tax must be raised to exclude individuals who
> > are single at $120,000 and Couples to $200,000. (middle class tax
> > break)
> >
> > Social Security taxes need to be raised to 12.5% split between
> > employer and employee and also raised to include the first $200,000.
> > (I need to double check this percentage it may be less)
> >
> > Businesses will receive tax breaks equal to the gross expense of
> > bringing US jobs BACK to the US for 7 years of continuous employment
> > of the position as long as the net jobs of employed are increased by
> > the same number of jobs at the job site.
> >
> > Health Care should be bottom up.
> >
> > $10,000 of health credits per tax payer for preventative care. The
> > individual Must get a physical check up each year or lose a portion
> > of
> > the benefits. Give the Taxpayer a lifetime Budget of $250,000 for
> > medical care of their choosing. Pro rate this by age 18 to 72 at the
> > start of this program.
> >
> > The way to keep medical costs down is early treatment. If a person
> > does not address a medical problem reduce their benefits.
> >
> > This is not to REPLACE medical insurance but to give a minimum level
> > of medical care.
> >
> > All of the above is the medicine to get the country back on track.
> >
> > Ending the tax cuts to the rich will lower the debt, which will
> > strengthen the US dollar, which will mean oil will cost less, which
> > means inflation will go down, which means core inflation including
> > food and fuel will diminish, which means the economy will become
> > stronger because US workers will be able to afford to buy
> > discretionary products, which will employ other Americans who will
> > now have jobs so they will not lose their homes which means the
> > housing
> > market will stabilize, which means banks will be more solvent, which
> > means money will once again become liquid which means loans for
> > investments will once again become available which means industry
> > will grow which means increasing GDP growth and more jobs
> >
> > On Sep 17, 8:56 pm, Jim Willis <[EMAIL PROTECTED]>
> > wrote:
> >
> > > 1.Since Fannie and Freddie has been introduced to the American
> > > vernacular let's start here. The government needs to get out of the
> > > mortgage business, once and for all. Both of these companies have been
> > > suckling at the teat of bloated federal plutocracies far too long.
> > > Fannie and Freddie need to be broken into a thousand pieces and
> > > privatized. The federal government should have no attachment or
> > > responsibility. And, the bailing out ends now, for good.
> > > 2.In promised entitlements our government is indebted $57 Trillion
> > > dollars. If not dealt with, it will destroy our country. Since
> > > government has proven that they are incapable of running anything…
> > > Social Security, Medicare and Medicaid should be privatized. The
> > > switch to privatization will be costly and take time to implement. To
> > > cover the initial cost increases see solution three.
> > > 3.There are far too many people in this country who have chosen to
> > > ride in the wagon while too few of us are pulling. Our tax policy
> > > rewards failure and punishes success guaranteeing less of one and more
> > > of the other. We should institute the, "Fair Tax" which abolishes the
> > > IRS and incorporates a federal sales tax instead of a payroll tax.
> > > With the fair tax, the burden is shared and pimps, hookers and drug
> > > dealers will finally carry their share of financing our federal
> > > government. Just maybe, with everyone pulling the wagon and sharing
> > > the burden, those not paying attention to federal spending might start
> > > doing so. Forty percent of Americans pay no federal tax yet take
> > > advantage of a great and greater share of our services.
> > > 4.Stop corporate pillaging, called the Breck girl law. Corporations
> > > spend billions of dollars each year defending themselves from John
> > > Edwards and the trial lawyers. A recent study found most of the
> > > plaintiff suits to be unworthy of litigation. The most egregious
> > > caveat of these suits is punitive damages. Compensatory damages
> > > compensate a plaintiff for any loss of earnings, medical bills or even
> > > the loss of life. Punitive damages are a punishment to a corporation.
> > > Yet, the corporation is not punished, the shareholders are, the actual
> > > owners who had nothing to do with the original wrong. Settlements
> > > should be limited to compensatory damages only.
> > > 5.As long as we are speaking of lawyers let's right another wrong of
> > > jurisprudence. I've had it with perps across the fruited plain
> > > escaping punishment because their rights were violated. This is the
> > > dumbest ruling ever to come out of the United States Supreme Court.
> > > It's known as fruit of the poisonous tree. Look, if some child rapist
> > > has his rights violated by some flatfoot in Podunk Louisiana then
> > > punish the damn cop. The raped child violated no ones rights, the cop
> > > did, punish him and lynch the rapist. The fact that his rights may
> > > have been violated does not affect his guilt or innocence.
> > > 6.Drill for oil everywhere. Let's start by drilling through Harry
> > > Reid's head, though I doubt we'd find anything. We have enough natural
> > > resources in this country, and off our shores to make $2 dollar gas
> > > plentiful for the next three hundred years. Standing in the way of
> > > this are Harry Reid and Nancy Pelosi. Energy is the engine of our
> > > economy and must be secured at a reasonable price. So, first we drill
> > > through Harry and Nancy's head and then we put oil derricks in the
> > > well of the senate and the house.
> > > 7.In a massive, "Manhattan project like" energy solution we approve
> > > licenses for 500 additional nuclear power plants. This will create
> > > millions of jobs while helping to make us energy independent. And, we
> > > should insist that they are breeder reactors allowing us to use the
> > > spent fissionable waste over and over. We shouldn't stop building
> >
> > ...
> >
> > read more »
> >
>
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