Obama Planning to Takeover ALL BANKS
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Geithner’s proposal is being set up to fail. Obama is discouraging participation by vilifying and criticizing wall street. He is doing this on purpose so very few participate in plan and he can say I tried but wall street refused to help and participate and failed us again. He then can nationalize the banks after the stress tests. (and later healthcare)
This is described by former Bill Clinton advisor d*** Morris:
http://www.youtube.com/watch?v=VwJx4P7hDkU
What’s Glenn’s show going to look like when this thing is over? We just started hearing all three hours of his show here in STL. That guy is depressing. He’s funny, but man can he turn a good day into a gloomy one quickly.
I like Glenn alot, but have to agree with you here Spiff - on morality and conservative principles he is dead on. Regarding the economic situation, he has been about as bearish and conspiratorial as ANYONE. I have listed to him on radio for 4 years now, and the last 2 years have been difficult b/c of his doom and gloom scenarios.
JJones - I have now heard d*** Morris present this Obama "scheme" 3 times. I am not doubting it b/c Morris is a brilliant and savvy policitial consultant, but let's see how it plays out first. It is interesting for sure.d*** Morris has thrown impartiality out the window as he learned it is far more lucrative to be in bed with the conservatives. You can’t take what he says at face value at all anymore.
Look, I don’t care for Obama anymore than a Fox News commentator, but this over the top gloom & doom from Beck, D*ck Morris and Sean Hannity has me changing the channel more and more these days. It’s obvious that these guys are just as politically motivated to talk down the economy after the election as Keith Olbermann & company were before the election. I really wish there was such a thing as an objective media.
Agreed, people are patheticly dedicated to party lines. I am not. I think Reagan & Clinton did great jobs reducing the governement bureaucracy/black hole. I think Bush and Obama did/are doing a terrible job. (markets loved when reagan & clinton would let more money flow to the economy instead of getting trapped in government)
It appears the only good that will come out of Obama will be massive reductions in the ridiculous amounts of military spending we are doing, but he appears to think we should massively increase the size of the federal government. This will take 50+ years to unwind.
Every dollar that is given to the government is not given to the real economy.
JJ…You said that every dollar that is given to the government is not given to the real economy. I disagree with this statement, in a study done in 2006 when you include civil servants, employees of government funded contracts, organizations that receive federal grants, the post office, and the military the number of people that are “actually” on the government payroll is 14.6 million. To say that they are not part of the real economy is not correct. They earn a wage and they buy products and services, they are part of the economy.
I second that. I don't think any of those guys, including Bill O'reilly have ever had an economics class. Enough already beating up on Geitner, give the guy a chance. The AIG bonus issue was driven by media frenzy, more then facts. The negative publicity is going to cost taxpayers way more then the 160mm in bonuses.Look, I don’t care for Obama anymore than a Fox News commentator, but this over the top gloom & doom from Beck, D*ck Morris and Sean Hannity has me changing the channel more and more these days. It’s obvious that these guys are just as politically motivated to talk down the economy after the election as Keith Olbermann & company were before the election. I really wish there was such a thing as an objective media.
government payroll is 14.6 million
this years budget is over 900 billion
quite a gap.
I’m not against Geithner, he’s doing a good job. I think Obamas big government/socialist policies will be very very bad for this country.
It’s the exact opposite of what lead to prosperity in the 1980s and 1990s
My mistake I should have been clearer. That’s 14.1 million employees when all groups that receive money from the federal government are included!
government spending should be no larger than 20% of GDP.
History shows that when government spending is between 15-20% of GDP, GDP growth is about 4%.
When overnment spending is 40% of GDP, GDP growth is less than 2%.
when over 50%, GDP growth averages less than 1%.
stocks go down when government spending goes up
Forget all of this crap, I am just going to cash out and build a bomb shelter! The end of the world is near! Stocks will never go up again, all banks are going under, the dollar will be worthless, US dominance is over, capitalism is dead, taxes are going to 80%, unemployment will hit 25%, soup kitchens will replace all McDonalds, blah blah blah.
if government spending stays under 20%, the stock market will probably return between 12-14% over the next 10 years
Glen Beck is a Mormon. He joined / converted as an adult, which says something about his intellectual prowess…or lack thereof…
MinimumVariance, you are showing yourself to be a bigot, which says something about your intelligence.
ICE,
Good to see you come in on the defense of bigots everywhere. I'll apologize in advance if my comments are out of line, but I wasn't quite sure whose intelligence you think is greater than my own. Your post didn't make that clear. Are you implying MinimumVariance's or Glen Beck's intelligence is "far" beyond my own? I'm not sure how you came to that conclusion just because I don't appreciate hatred and bigotry. Most hatred and bigotry is caused by a lack of knowledge and understanding about a culture, religion or race. Further more, you know nothing about me, since I have hardly posted here at all. You, on the other hand seem to spend all of your time here on this forum, which I am implying from your more than 2000 posts. I, on the other hand, have far better things to do with my time. I mostly read the forum for amusement, but making fun of someone because of their religious beliefs is crossing the line. It is as ugly as racism, and should be treated with the same amount of outrage by all educated, reasonable people. LapideNice to know that social and moral values are of zero concern to you.
I would have the same response to MinimumVariance had he attacked anyone because of religion, race or sex (gender or disposition). I continue to believe that bigotry, in any form, is due to a lack of education and understanding, and find it hard to believe that geniuses, of any kind, would lack this knowledge.I will concede your point. Bigots can be intelligent. I have still lost respect for someone who spouts hatred and bigotry on a public forum.
MinimumVariance, you have shown your true colors.I believe MV was making a joke – it’s amazing to me that intelligent, EDUCATED people get so offended at jokes.
To say that the choices we make in life don’t give an indication into our intelligence and decision-making ability is complete nonsense.
For example: White guy, from a good family, good education gets his MBA, gets his CFA charter and goes to work for a bank. He then creates some really sh*tty financial products. There are some problems with these products and it causes the bank to lose money. Now, just that one guy did that you wouldn’t assume all white people with MBA, CFA’s are screw-ups would you?
But if a lot of people like that did…
It turns into a joke.