Dear Congress: Put the Gun Down Now
by Michelle Malkin
Will 2008 be the year of the Chicken Little Congress? Or can the House of Representatives show the panic-driven Senate what it really means to be a deliberative body?
On Sept. 19, Treasury Secretary Hank Paulson put a gun to America's head: Pass his $700 billion bailout of the banking industry and give him unfettered new powers to buy up an ocean of privately held toxic assets, or all hell would break loose. Treasury officials warned that the market would lose a third of its value if t ...
( Back to Article )
Join the Discussion
|
3 Comments | Post Comment
|
Posted by: Masako
Comment: #1
Fri Oct 3, 2008 9:15 PM
What a hard-hearted little goblin you are, Malkin. Did it ever occur to you that the folks being denied car loans because they are "bad risks" are in that category because they've lost their jobs?
|
Posted by: Masako
Comment: #2
Mon Oct 6, 2008 8:22 PM
Re: Carl: Yeah, on top of being mean, she's just plain stupid. Let's see if she can muster enough gray matter to call for McCain doing something about that shrill whine he's developed, deepening his voice, and starting to offer solutions about fixing what's wrong with the economy.
|
Posted by: Carl
Comment: #3
Sun Oct 5, 2008 5:53 AM
Actually, what Michelle, doesn't understand is our whole economic system is based on credit....
Without credit cars don't sell, cars don't sale then automakers layoff employees, laid off employees cut back on their spending and more companies lay off employees and these employees do not buy cars...and thus it all starts over again.
What is so fascinating is that she can bad mouth the consumer with no credit without even realizing that that consumer is the reason the economy runs...or doesn't. She fails to realize that her suggar daddy, Ronald Reagan, implemented something called "supply side economics" Which believes that if you take care of the ones that own companies or the companies that supply the goods consumers demand then they will get richer and are more apt to continue supplying goods for our economy...oh and the more they supply the more jobs they create.
They just failed to realize that all the goods they supplied to consumers were purchased on credit. As long as easy credit was available employees made no demand for pay increases and such wages stagnanted....and now with the cut off of credit......living standards will drop dramatically.
Since everything was paid for with credit then all the wealth created was based on credit and if consumers default on their credit payments the wealth that was derived from credit purchases will also errode.
|
|
|
|
|
 |
|
|
|
|
- 
- 
- 
