Letters to the Editor
DrEast
Published Letters: 113 Editor's Choice: 1
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Take a look at this quote, Mr. Leonard
[Read the article: A strange calm comes over Wall Street]
[Read more letters about this article: Here]"Record spending that could lead to record tax increases or higher deficits will not advance our economic recovery," the White House said in a statement.
http://money.cnn.com/2008/09/26/news/economy/stimulus_blocked.ap/index.htm
That's right. They said this today.
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Needs to be seen to be believed, Mr. Greenwald.
[Read the article: McCain's flailing panic]
[Read more letters about this article: Here]"Record spending that could lead to record tax increases or higher deficits will not advance our economic recovery," the White House said in a statement.
http://money.cnn.com/2008/09/26/news/economy/stimulus_blocked.ap/index.htm
This was said TODAY. While the debate for a 700 BILLION dollar bailout yet rages. That, I may add, this administration supports.
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Wachovia
[Read the article: While politicians dither, another bank teeters]
[Read more letters about this article: Here]Is a brutal, vicious bank with the most deceptive lending practices in my area.
I want it to fail.
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It IS like the Iraq invasion in one way:
[Read the article: Why the bailout is not like the Iraq war]
[Read more letters about this article: Here]It will not achieve its stated goal and it will leave us fundamentally weaker in the exact same place it meant to strengthen us.
Actually, make that two ways: It will massively benefit the people who have spent the time to buy out the politicians.
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The Austrian Economists
[Read the article: A bailout bill that pleases no one]
[Read more letters about this article: Here]have been saying from the start that 700 billion isn't enough. There is no "enough" in a Keynesian-blessed credit-based banking system. There is only exponentially larger and larger amounts of credit infusion, until it dies.
The sooner it dies, the lesser the pain. Don't try to fill this bubble with money. Let it crash. Hopefully, it'll pop the bigger bubble all of Keynesian economics is based on and we'll finally see the end of central reserve banking.
Not that I'd bet on it, but it'd be nice.
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Also
[Read the article: A bailout bill that pleases no one]
[Read more letters about this article: Here]We are about to set up the greatest ongoing financial scam in the U.S. since the Federal Reserve was created.
Banks borrow money from Federal Reserve and invest in trash paper. Banks sell paper to new "Office of Financial Stability," which by the way won't die, ever, since it's a government office. The "Office of Financial Stability" sits on the paper for a while, then sells it back on what is a profit on the books but, thanks to the inflation of the currency, will come out an actual loss for the taxpayer. Then banks, who get a lower interest rate on their loans from the Fed than the inflation rate, sell it right back to said office. Thanks to the "profit" made by the Treasury, the 700 billion "limit" on outstanding loans is completely circumvented.
The entire scheme is an elaborate mechanism to transfer money from taxpayers to banks through the mechanism of inflation. Meanwhile, it doesn't matter if the paper being traded is completely bunk: It could literally be monopoly money and work just as well.
Long live the banking elite!
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If this bill passes
[Read the article: An unhappy House, divided]
[Read more letters about this article: Here]I'm becoming a con man or a banker (no difference). That's where all the real money is, obviously.
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The house of reps
[Read the article: Bailout follows the 10 normal principles for how our government functions]
[Read more letters about this article: Here]is the closest thing we have to a house of commons anymore. If this bill dies, it dies in the house.
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YAY!
[Read the article: House rebellion: The bailout bill fails]
[Read more letters about this article: Here]Yay.
Bah. I'm gonna have to vote for my representative, he voted against. Sonnuva...
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Looks like you CAN teach an old dog new tricks.
[Read the article: Bailout follows the 10 normal principles for how our government functions]
[Read more letters about this article: Here]Or, in this case, a large number of old dogs one new trick: Just Say No.
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Please, please, please
[Read the article: Black bailout Monday]
[Read more letters about this article: Here]Let this bailout stay dead and the banking system be brought to its knees. We desperately need a decent humbling... maybe then we can revise the rabidly inflationary banking system and start living sanely again.
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People keep saying
[Read the article: Black bailout Monday]
[Read more letters about this article: Here]that failing banks and falling stocks are the problem.
They aren't.
They're the SOLUTION.
Do you think we don't know the suffering we're in for? We do. But the problem that brought us here was fractional reserve banking. Massive contraction is the medicine for that disease.
We have to end fractional reserve banking. And my hope and prayer is that the banking bubble, on which all other bubbles reside, finally, FINALLY bursts and we can replace it with something that isn't ultimately unsustainable.
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@bschoch
[Read the article: Cheap latte drinkers feel the pain]
[Read more letters about this article: Here]Oh, but bschoch, you apparently still believe in the concept of "justice." You must realize that justice has no place in a properly managed economy. No one must be allowed to suffer, even if they deserve it; everyone must prosper, lest politicians and bankers lose their jobs.
And by "no one" and "everyone" I mean, of course, from those people with deep connections to the system. Everyday Joes like you and I can go hang.