Letters to the Editor
DrEast
Published Letters: 113 Editor's Choice: 1
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Is this law even legal?
[Read the article: The end of the Reagan revolution]
[Read more letters about this article: Here]Article 1, Section 7, U.S. Constitution: "All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills."
But that's not what happened here... the Senate passed its version first, and then sent it to the House.
So... no taxation/inflation without representation, eh?
Is this law legal under the U.S. Constitution?
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Side note on the bailout
[Read the article: The death of GOP electoral tactics on the war]
[Read more letters about this article: Here]Article 1, Section 7, U.S. Constitution: "All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills."
By what I can see, this means that what happened this week is unconstitutional. The House shot the bill down, the Senate passed it with amendments, and the House then passed the Senate's revenue bill.
If the House had passed it, the process would have been legal... the Senate could have amended it and sent it back. But putting pressure on the House by passage in the Senate was an unconstitutional act, because the Senate can't originate revenue bills.
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@catamitebastard
[Read the article: The end of the Reagan revolution]
[Read more letters about this article: Here]But the mental health parity bill wasn't a revenue bill before amendment, was it?
I mean, I'll concede that the house had passed it would be justification until such time as somebody managed to get this in front of the Supreme Court, but I'd like to have the proper amount of moral outrage here. (Infinity, or infinity plus one?)
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@catamitebastard
[Read the article: The end of the Reagan revolution]
[Read more letters about this article: Here]Well then, I guess I wonder why we even HAVE a Constitution.
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A confidence crisis among the con men
[Read the article: Global economy panic attack; Dow drops 500]
[Read more letters about this article: Here]I guess there really is no honor among thieves.
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Conjecture
[Read the article: Wall Street shudders, again]
[Read more letters about this article: Here]"Well as of 2pm the dow is down over 600, what will they say now that the bill has passed and signed?"
"Har, har! We got you to give us 700 BILLION dollars. Now we don't care what you do to try and save the system. We don't have a stake in it anymore, we've got the Office of Giving Us Money instead. It's gonna go bye-bye even FASTER, so thank goodness we're out of it. Man, y'all are MORONS."
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This Andy Martin fellow
[Read the article: Sean Hannity, Robert Gibbs and anti-Semitism: How to go on Fox News]
[Read more letters about this article: Here]reminds me a lot of Jack Thompson, the anti-video-game litigator who's been on several major networks as an Expert on the effects of video game violence.
Jack was recently disbarred by the Florida Supreme Court. He was known for his high volume of filed motions, including obscene drawings in the margins and various offensive comments (with some anti-Semitic statements as well, I believe).
Is there some special insanity that causes people to want to abuse the judicial process?
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It's not gonna help.
[Read the article: Can a global rate cut stop the bleeding?]
[Read more letters about this article: Here]Look at the Dow Jones Industrial Average chart for its entire lifespan, and you'll realize that the entire thing, which once looked like exponential growth forever (something that only a madman or economist would believe in... no difference), was one giant bubble that is now being popped.
Against the incredible force of that collapse, a half-point rate cut won't make an inflated dime's worth of difference.
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@rizla
[Read the article: Can a global rate cut stop the bleeding?]
[Read more letters about this article: Here]I would actually say that we may fall below the 6500ish extrapolation before this is all over as the artificial national growth may have damaged the real growth of infrastructure (a process known as "globalization").
It's like a cancer, or a parasite... the artificial sucking all the lifeblood from the "real", natural growth. Economic development is a byproduct of infrastructure development. Trying to manipulate it directly through financial market manipulation just damages that underlying development.
Anyway. It's gonna be bad. I hope and pray that we get depression instead of hyperinflation... depression is bad, but hyperinflation is much, much worse. I don't sleep any easier with Helicopter Bernanke at the helm, either.
The bread and butter of the economists is making it all seem more complicated than it actually is. But the sad truth is that the actual processes are brutally simple: Bubbles pop, people suffer and debt has to be repaid.
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On a Name
[Read the article: Return of the Long Depression]
[Read more letters about this article: Here]We'll see. I'm thinking "The New World Order," a la Rockefeller, myself. Banks are going to globalize and consolidate, assuring us that it will solve the problem, and then we'll get to see why all the theories about national isolationism causing the Great Depression, instead of the inherent flaws of fractional reserve banking, were wrong.
And then the fun really begins as we try to wrest our inherent rights back from the bankers and their political puppets!
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I'm shocked,
[Read the article: Major shock: Eavesdropping powers abused without oversight]
[Read more letters about this article: Here]shocked to find gambling in this casino.
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You can EYEBALL the Dow
[Read the article: Dow disaster -- down nearly 700 points]
[Read more letters about this article: Here]over its entire history and realize we're supposed to be around 6000 or so right now. Just look at it and draw the curve with your finger!
But no, government must do ANYTHING to keep us from getting there. At the rate of wrong-way solutions they're pumping out, we'll be around 5500 before it lets up and in for a long depression even then.
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@catamitebastard
[Read the article: Dow disaster -- down nearly 700 points]
[Read more letters about this article: Here]The M0, which is how much physical cash is being printed by the Fed, has gone vertical lately.
There is no danger of running out of greenbacks. Of THAT, you may have absolutely no fear whatsoever.
The question actually is, how tightly must they be bundled to make the most effective fuel?
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Wait, WEALTH got wiped out?
[Read the article: Dow disaster -- down nearly 700 points]
[Read more letters about this article: Here]Wealth is actual capital, not funny money or vapor credit. How did wealth get wiped out today? Some numbers shifted on some paper.
And catamite, I'm afraid your "gather them all up" plan wouldn't work. The actual greenbacks in circulation as of a few months ago were about 700 billion. The actual debt this country owes is about 10 trillion. That's the way it works, when your money represents debt and the interest needs to be paid on it.
The banks OWN us. Their down payment bought our government almost a hundred years ago. With interest, they now own the world.
That, ladies and gentlemen, is how you take over the world. Not with armies, but with compound interest.
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The best selling products in the first Great Depression
[Read the article: Dow disaster -- down nearly 700 points]
[Read more letters about this article: Here]were playing cards and chess sets.
My advice? Invest in electronic entertainment, the modern equivalent.
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@Rizla
[Read the article: Dow disaster -- down nearly 700 points]
[Read more letters about this article: Here]I'll admit, I'm a disciple of the Austrian school, so I'm certainly feeling... vindicated. But nobody's willing to give up banking yet. That needs to happen, or the whole point of corrections like these will be lost in the shuffle, and we'll get history repeating ad nauseum.