Friday, February 20, 2009

Something's happening here..........what it is is getting pretty clear

Please read this and send it to email friends. This is a MUST READ...Amazingly well done....and SO scary

Z UPDATE: If you can read more than this fantastic piece by Tim Wood, click HERE and see a letter to the President of GM I think you'll appreciate very much.

Z UPDATE #2: Chuck Schumer thinks many banks should be nationalized, FIXED by our government, then 'resold' when they're in better shape. ya.

SOMETHING OF HISTORIC PROPORTIONS IS HAPPENING
By Tim Wood
2008 December 1

I am a student of history. Professionally. I have written 15 books in six languages, and have studied history all my life. I think there is something monumentally large afoot, and I do not believe it is just a banking crisis, or a mortgage crisis, or a credit crisis.Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus.
Something of historic proportions is happening. I can sense it because I know how it feels, smells, what it looks like, and how people react to it. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten - fifteen years. The pace has dramatically quickened in the past two years.We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why?

We learn just days ago that the Federal Reserve, which has little or no real oversight by anyone, has "loaned" two trillion dollars (that is $2,000,000,000,000) over the past few months, but will not tell us to whom or why or disclose the terms.That is our money, yours and mine. And that is three times the 700 billion we all argued about so strenuously just this past September. Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? I thought this was a government of "we the people,"who loaned our powers to our elected leaders. Apparently not, they now control us.

We have spent two or more decades intentionally de-industrializing our economy. Why? We have intentionally dumb down our schools, ignored our history, and no longer teach our founding documents of why we are exceptional, and why we are worth preserving. Students by and large cannot write, think critically, read, or articulate. Parents are not revolting, teachers are not picketing, and school boards continue to back mediocrity. Why?

We have now established the precedent of protesting every close election (now violently in California over proposition 8 that is so controversial that it wants marriage to remain between one man and one woman. Did you ever think such a thing possible just a decade ago?). We have corrupted our sacred political process by allowing un-elected judges to write laws that radically change our way of life, and then mainstream Marxist groups like ACORN and others to turn our voting system into a banana republic. To what purpose?

Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt,as is Medicare and our entire government, our education system is worse than a joke (I teach college and know precisely what I am talking about) the list is staggering in its length, breadth, and depth. It is potentially 1929 x ten.

And we are at war with an enemy we cannot name for fear of offending people of the same religion, who cannot wait to slit the throats of your children if they have the opportunity to do so. And now we have elected a man no one knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla, Alaska. All of his associations and alliances are with real radicals in their chosen fields of employment, religion and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh, of course the media would never play that for you over and over and then demand he answer it. Sarah Palin's pregnant daughter and $150,000 wardrobe is more important.)

Mr. Obama's winning platform can be boiled down to one word: change. Why? I have never been so afraid for my country and for my children as I am now.This man campaigned on bringing people together, something he has never, ever done in his professional life. In my assessment, Obama will divide us along philosophical lines, push us apart, and then try to realign the pieces into a new and different power structure. Change is indeed coming. And when it comes, you will never see the same nation again. And that is only the beginning to a world social government.

I thought I would never be able to experience what the ordinary, moral German felt in the mid-1930's. In those times, the messiah was a former smooth-talking rabble-rouser from the streets, about whom the average German knew next to nothing. What they did know was that he was associated with groups that shouted, shoved, and pushed around people with whom they disagreed; he edged his way onto the political stage through great oratory and promises. Economic times were tough, people were losing jobs, and he was a great speaker. And he smiled and waved a lot. And people, even newspapers, were afraid to speak out for fear that his"brown shirts" would bully them into submission. And then, he was duly elected to office, a full-throttled economic crisis at hand [the Great Depression]. Slowly but surely he seized the controls of government power, department-by-department, person-by-person, bureaucracy-by-bureaucracy. The kids joined a Youth Movement in his name, where they were taught what to think. How did he get the people on his side? He did it promising jobs to the jobless, money to the indigent, and goodies for the military-industrial complex. He did it by indoctrinating the children, advocating gun control, health care for all, better wages, better jobs, and promising tore-instill pride once again in the country, across Europe, and across the world.

He did it with a compliant media; did you know that? And he did this all in the name of justice and 'CHANGE'. And the people surely got what they voted for.(Look it up if you think that I am exaggerating.) Read your history books. Many people objected in 1933 and were shouted down,called names, laughed at, and made fun of.When Winston Churchill pointed out the obvious in the late 1930's while seated in the House of Lords in England (he was not yet Prime Minister), he was booed into his seat and called a crazy troublemaker. He was right, though.

Don't forget that Germany was the most educated, cultured country in Europe. It was full of music, art, museums, hospitals, laboratories, and universities. And in less than six years, a shorter time span than just two terms of a U.S. presidency, it was rounding up its own citizens, killing others, abrogating its laws, turning children against parents, and neighbors against neighbors,all with the best of intentions of course.The road to Hell is always paved with them.

As a practical thinker, one not overly prone to emotional decisions, I have a choice: I can either believe what the objective pieces of evidence tell me (even if they make me cringe with disgust); I can believe what history is shouting to me from across the chasm of seven decades; or I can hope I am wrong by closing my eyes, having another drink, and ignoring what is transpiring around me. Some people scoff at me, others laugh, or think I am foolish, naive, or both. Perhaps I am. But I have never been afraid to look people in the eye and tell them exactly what I believe and why I believe it. I pray I am wrong. Pray with me for the truth, because the truth will set us free.WAKE UP, America!

z (Remember: Tim Wood wrote this, whoever he is..NOT me!!)

z

67 comments:

Anonymous said...

Way to go Tim Wood!

"WAKE UP, America!"

Where have you heard that before?
I agree with Tim, we're in BIG trouble and people are getting PISSED! Get your gun permits folks, Obie just doubled down on Fanny and Freddy by throwing another 100BILLION dollars at them. If that doesn't infuriate you, nothing will.

Morgan

Rita Loca said...

Scary true.

Steve Harkonnen said...

One word:

GLOBALISM.

We're playing catch-up.

Ducky's here said...

In my assessment, Obama will divide us along philosophical lines, push us apart, and then try to realign the pieces into a new and different power structure.

------------------------

Someone clue this guy in. The divide has been here for some time starting with that fool in his dotage St. Ronnie Raygun.

I'm really sorry that the evangelicals, neocons and Libertarians find themselves on the outs. Apparently they though they could screw up forever and stay in power.

You SCREWED UP ROYALLY ! Adjust, help get this country back on track or get out of the damn way.

Anonymous said...

While correctly highlighting the miserable failure of our socialist school system, Mr. Wood apparently overlooks the simple fact that as Americans, we have “power” for exactly twelve hours, every two years. That’s it. Within that period of twelve hours, we are to cast our vote for men and women who will take their awesome responsibilities seriously.

That hasn’t happened in a very long time. Most people do not know the name of their elected representative, or the name of either senator. Most people have never written a letter to Congress, or placed a telephone call. Most voters, even among those who know the name of their representatives, do not know what committees to which he or she is assigned. They do not know the voting records of individuals they elect, time after time. Most voters are unaware when the press reveals corrupt activities of their congressional representatives; they are hardly incensed.

The advice is good . . . “Wake up, America”; but it is nevertheless unrealistic to think this will happen. And if this were not true, Pelosi would be but a faint memory after a single term in office, citizens would have booted Rangel out of office years ago, Barney Frank would not be bragging about his fourteenth term in the U. S. House of Representatives, and Feinstein would be under arrest for disclosing classified information to the enemy. So it is true . . . we deserve the government we elect.

Steve Harkonnen said...

Ducky says:

Adjust, help get this country back on track or get out of the damn way.

You mean back on the track of a socialist agenda, right? I certainly wouldn't want that. If it happens, watch me become a resurgent. If I must, I will take to the hills and uprise against this.

Debbies Choice said...

Obama is in way over his head. He actually has no idea on what to do about anything. And the people around him (Eric Holder and the rat pack) are all in the same boat.
They all are a bunch of Doom, gloom and guilt people rather than what they sould be. They offer NO confidence to the country at all. As a leader, Barack Obama is proving to be the carrier, not the cure. I'm sure that none of us are in the least bit suprised!

Ducky's here said...

Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt,as is Medicare and our entire government, our education system is worse than a joke (I teach college and know precisely what I am talking about) the list is staggering in its length, breadth, and depth.

----------------------

Someone tell this guy that the mortgage and banking system COLLAPSED a couple years ago.

Take a look at General Electric. It's been on a steep slide for some time and went under the psychologically important $10 barrier today.

But by all means lets follow this clown's lead and be completely negative and curse the darkness, look for scapegoats (how 1930's) rather than keep our heads. But I fear the right has been so brainwashed they can do nothing but parrot "tax cuts" whether that is effective policy or not.
I believe at this point the firefighter from New York starts posting something about Socialism is a failure and the 1989 "misery index" in Denmark proves it. Not too helpful


I notice that this bobo teaches at the college level but he doesn't think he's part of the reason we have an education problem? Guy's a tool.

Ducky's here said...

Ducky says:

Adjust, help get this country back on track or get out of the damn way.

You mean back on the track of a socialist agenda, right? I certainly wouldn't want that. If it happens, watch me become a resurgent. If I must, I will take to the hills and uprise against this.

----------------

We'll airdrop you raw meat. Good luck.

Anonymous said...

Someone tell this guy that the mortgage and banking system COLLAPSED a couple years ago.

...while Barney Frank and Chris Dodd were nodding there heads telling all the other members of the House and Senate and the American public that there was "nothing wrong"... and "no reform or oversight needed".

Quis custodiet ipsos custodes?

Thomas Lawrence said...

That pretty much sums it all up. Freedom loving bloggers need to keep sounding the alarm.

And for the trolls that champion the all mighty state: don't feed them.

Ducky's here said...

Tie a can on it, Farmer.

I know you think you have the perfect whipping boys in Frank and Dodd and think you can pin this on to pols who weren't even ranking majority members when the building first caught on fire.

Chucklenuts wouldn't even use the word "recession" right up to election day.

Bernanke was telling everyone that there was "weakness" in the housing market but that the American economy is "flexible".

The freaking American economy is in the freaking crapper. Citi and Bank America are insolvent. There is no consumer demand but we still have the supply side dopes claiming we need to give businesses tax breaks so they can invest in expansion.

You are delusional. And until the right can admit its serious mistakes in this and start to compromise then it's just going to get worse.

You guys are like that toad who was on on of the cable shows talking about the housing proposals and just ranting about the "losers". You don't even realize that an effective foreclosure bill helps protect YOUR OWN equity. The ignorance is astonishing.

Between the evangelical Calvinists who are scared stiff one of the non elect might catch a break and the Libertarians who can't see past their own noses you'll have us down for the count.

Z said...

Ducky, you're going too far.

When I start bashing Catholics (something I will NEVER DO for many reasons including class and dignity), THEN you may continue to bash Protestants here..DO YOU HEAR THAT? It's one of the VERY few things I have in my blog manners.

NOBODY IS "STUPID" BECAUSE HE DOESN'T AGREE WITH YOU, DUCK. As a matter of fact, it's quite the opposite. Stop writing as if you can't fight facts so you have to stoop to insult, I know you're better than that.

Thanks.

elmers brother said...

well duhkkky some people value responsibility over the equity in their own home

Ducky's here said...
This comment has been removed by the author.
Ducky's here said...

I'm sorry , z, but if you can factor Calvinism out of the current political scene then it's quite a trick.

The idea that the poor are poor because they are not the elect is not anything new.

Are those on the right incapable of seeing they have self interest in stabilizing the housing market and dealing with foreclosure levels? Absolutely. If you disagree please write a little about why escalating foreclosures are a good idea.

As for using Dodd and Frank as the prime movers of the current crisis, that isn't even incorrect.

I'm sorry if I get upset that you, the great lover of America, seem to take delight in posting screeds that do little but tear it down. It does confuse me.

Meanwhile, the right absolutely has to come to a realization of the part they played in this mess. Without that mea culpa you are just going to be a boat anchor.
Believing that the right has ideas that can be constructive if they abandon some of the knee jerk stuff that has been failing for a couple decades is not insulting. I don't want them to agree. We need a dynamic opposition but you are going to have to develop some new ideas to serve that role.

Most of you still can't stop calling deficit spending, socialism. You are a broken record.

Ducky's here said...

Exactly elmer. You have an ideological/theological foundation that is structured to primarily do ONE thing --- assign blame and assess punishment.

In deconstructing it I would start by asking how you came by sufficient knowledge to be able to assess the entire mortgage situation or is it just divine judgment that people are struggling?

Anonymous said...

I know you think you have the perfect whipping boys in Frank and Dodd and think you can pin this on to pols who weren't even ranking majority members when the building first caught on fire.

Where were they from 1993-5 when they were ramming the CRA changes through for WJC? They were on the same committees... Dodd since 1980 and Frank since 1972

Anonymous said...

...and they were the ranking minority members that led the opposition to and prevented any corrective actions being performed four years ago!

Anonymous said...

You don't even realize that an effective foreclosure bill helps protect YOUR OWN equity.

I don't NEED equity, nostradumbass. I need a house to live in. It's idiots like you who look to their homes as a source of "equity" that got us into this trouble in the first place.

The idea is to burn your mortgage after 25 years, not roll it over for flatscreen TV-esque accoutrements or play "reverse mortgage" tricks starting the day you retire!

Anonymous said...

You RAIL against CONSUMERISM and then pout if the means to that end is made the slighest bit difficult.

Hypocrite.

Anonymous said...

Your your own worst enemy.... a walking quacking MORAL HAZARD!

Z said...

FJ:"The idea is to burn your mortgage after 25 years, not roll it over for flatscreen TV-esque accoutrements or play "reverse mortgage" tricks starting the day you retire!"

If I were Chris Matthews and prone to ridiculous, leg dripping hyperbole, I'd say that your statement there (SO GOOD, so important) did it for ME! :-)

Ducky's here said...

Farmer, I'm afraid you don't realize that the American capitalist paradise runs on credit.

No credit and you get what we have going on right now and this is its nascent stage.

Since the primary source of credit in America is the home mortgage I think you may wish to rethink letting values get further under water.

Really, you seem to have some subconscious nostalgia for the 30's.

And the ad hominems are not sporting on a board where you know I can't reply in kind.

elmers brother said...

duhkkky is it responsible to not understand a mortgage contract, then renege on it and then ask someone else to bail you out of it?

it's common sense sir

and you should ask Obama, he's throwing that word around

Ducky's here said...

So the builders build a house knowing that it's going to sit on the market for a while because everyone knows the price is going to drop?

I don't think they like that model. This is also going to trickle down to lower wages in construction, a primary employer.

You might want to rethink the plan, Farmer.

elmers brother said...

duhkkky, you don't understand the difference?

compare/contrast


con·se·quence
[kónssəkwənss ]


noun (plural con·se·quen·ces)

Definition:

1. result: something that follows as a result
This is a direct consequence of your negligence.


2. relation between cause and effect: the relation between a result and its cause


pun·ish·ment
[púnnishmÉ™nt ] (plural pun·ish·ments)


noun

Definition:

1. penalty for doing something wrong: a penalty that is imposed on somebody for wrongdoing


2. act of punishing: the act or an instance of punishing


3. rough use: rough treatment or heavy use

Pat Jenkins said...

i don't know if we are heading to a "state" such as germany, but we are moving to a "state" of having every american dependent on the government z! whether that is by chance or choice! (i will lean toward choice!!)... p.s. no caption today? oh how great friday caption day would be when we stop by z!!.. he he he!! i just made myself laugh!!!

Z said...

FRIDAY CAPTION DAY? that's a good idea! I'll consider that! thanks, pat!!!

Ducky's here said...

Elmer, most of this money goes back to the banks anyway.

It's part of an attempt to avoid complete bankruptcy of the financial system. Myself, I think that's desirable.

Also what you leave out of this, lost from this complaint is the plain fact of predatory lending, lenders got cash rebates to push people in expensive adjustable rate mortgages.
That they hid terms of the agreement and denied disclosure.
and that everyone is seeing their property values plummet as a result of millions of foreclosed homes glutting the market. To the tune of $6 trillion dollars in home value.

Now, if you can't see that loss as a NATIONAL problem and not something that can be dealt with by separating out the scammers from the manipulated and unlucky then this is a waste. Just let the ship go down. And you know what? The scammers will survive. It will be the largely innocent who get hosed.

But again, you are to interested in a blanket application of this idea of moral hazard to even investigate below the surface. Never mind the universal ramifications of consequence.

Ducky's here said...

but we are moving to a "state" of having every american dependent on the government ...

------------------

Another Libertarian voting for Mad Max: Beyond Thunderdome. The Libertarian paradise.

elmers brother said...

duhkkky

in case you need a voice of 'reason'

elmers brother said...

duhkkky I'd start with

'Dirty Yankee' and then head on over to 'White Folks'

elmers brother said...

and that everyone is seeing their property values plummet as a result of millions of foreclosed homes glutting the market. To the tune of $6 trillion dollars in home value.

duhkkky I'm one of those homeowners who is 'underwater' having just bought my home 5 years ago, I live in one of the country's hardest hit areas (it was in USA Today yesterday)

BUT

I didn't buy the house and not be able to make the mortgage

elmers brother said...

duhkkky, we're sick of the bromide about predatory lenders...let's face it it's an excuse for people who either didn't read their mortgage agreements or can't read in the first place

it's called risk, the banks have a way to deal with mortgages for people who lose their job etc.

and if I choose to be irresponsible I can just stop making my payments too and benefit from the gubmint handout

Most people have been and continue to be responsible homeowners

and those who weren't should rent

Z said...

pearls of wisdom, Elbro....

I wonder if he can hear you

elmers brother said...

It will be the largely innocent who get hosed.

again you confuse punishment with consequence

elmers brother said...

are you telling me duhkky that there were 9 million homeowners who were victims of predatory lending?

Why aren't there massive government hearings bringing these lenders to taak?

Why aren't the jails overflowing with white collar criminals who took advantage?

Where's Elvis living these days?

christian soldier said...

and didn't Hitler take away private ownership of weapons ?!!!..
ALL tyrants-even those now in our government----first take away the ability of individuals to defend themselves -family-property--
Go waaaaay back to the Old Testament and the Philistines---the Hebrews could not make their own plows because the blacksmithing (my word) tools could also be used to make weapons...thus...the conquered people had to go to Philistine blacksmiths to have their plows sharpened....
Warning -Second Amendment under subtle fire again--my blog today...
C-CS

sue said...

z - Your statement at the bottom of the article reads: Tim Wood, whoever he is.

So you are printing an article without even knowing where it is coming from?

elmers brother said...

Sue,

If you google this article you will find it's posted in many many places.

Ducky's here said...

are you telling me duhkky that there were 9 million homeowners who were victims of predatory lending?

-------------------

I'm telling you there were quite a few. There are also people who are behind because they've lost their jobs.
Very unsophisticated people who got fast talked into ARM.

Elderly who were scammed.

Yeah and there were some hustlers to but a lot of them have taken their money and started to look for the next bubble to exploit. So your "moral hazard" argument isn't going to reach them.

Now neither you nor I really has any more absolute idea than a box of rocks what the real numbers are. However, I will maintain that it is in our collective interest to support a bill which tries to keep people in their homes if a reasonable (yes, we can argue about what that means) of aid can stop the foreclosure.

I absolutely agree that it's important not to try to assist everyone. Some simply aren't going to make it regardless. I would also let bankruptcy courts have power to adjust the mortgage.
Those courts have extensive experience renegotiating contracts and could make the determinations.

So what I am saying is that I want to right the system and really don't care that some scammers will slip through. We can't stop it from happening but we can minimize it.
If we assume that everyone deserves to sink then we are simply saying that it's time for a depression and , frankly, I have absolutely no doubt that right wingers would rather see that than contemplate the idea we may have helped some folks who are undeserving.

elmers brother said...

duhkkky

you don't have children...how can you understand.

elmers brother said...

and there doesn't seem to be anyone who can guarantee that a depression will not happen regardless. Unless STD research will somehow prevent that.

elmers brother said...

quite a few?

yet the government intends on helping out 9 MILLION homeowners!!

Z said...

I think it's time to start blaming and start thinking about America first; her roots, the tenets of her forefathers which we've lost due to negligent (or maybe not, maybe sincerely wrong teaching as described in this piece),etc.

What she's NOT is Socialist. She's not about redistributing wealth, she's about good people who help when they can and do. What she's NOT is cramming through bills when there hasn't been time to really digest and review and correct...and then suggesting time is of the essence when it's clear most of the aspects of the bill don't even become remotely helpful for at least a year. A week wouldn't have hurt.
What she's not is journalists who won't tell the whole truth nationally or internationally.
What she's not is people talking about transparency and then doing anything possible to prevent transparency.
What she's NOT is blaming a president's shortcomings on his color and not his character.
What she's not is an uneducated electorate...UNTIL LATELY.
What she's NOT is one party domination of all the TV networks, cables, big city papers ...only to be emphasized by an attempt to silence the only venue another half of America wants to participate in.

We could all go on.
but nobody's listening

cube said...

Wood makes some good points in his essay, but overall paints a very dark picture that I don't want to see come to pass.

America needs to do more than wake up. Americans needs to stop wishing for a Santa Claus government and get back to the rugged individualism that made us an exceptional country.

Ducky's here said...

All very nice, z, but let's get back to the housing bill.

Is it the Republican contention that allowing home values to drop and eroding the property tax base is going to be help us with funding for education, transportation and the like.

Just curious. Because every time I here the right go on their "socialism" and "what about the Constitution" tirade I'm reminded that even if they don't realize it consciously they want most of America to look like Camden.

It's a very bizarre patriotism.

Ducky's here said...

Z UPDATE #2: Chuck Schumer thinks many banks should be nationalized, FIXED by our government, then 'resold' when they're in better shape. ya.

--------------------

Looks like the FDIC is going to have a big meal pretty soon (Hint: Citi).

Actually, nationalization is a poor word. Citi is insolvent. FDIC is an efficient way to provide basic surety to account holders during the bankruptcy proceedings.

Can't very well nationalize it. It's busted flat broke. Nothing to nationalize.

Anonymous said...

It has been happening ever since the Industrial Revolution which sparked the onset of Marxism.

Marxism has been deeply embedded in our consciousness since at least the 1920's. A long slow-acting poison with which we are now saturated.

Nothing new. Neither is Satan.

~ FT

Always On Watch said...

If one uses the Dow Jones as a measure, thus far BHO's "change" has been one big failure. Is he deliberately tanking our economy? I'm starting to think so.

David Wyatt said...

AoW,

No doubt he is.

Z said...

Ducky, I didn't make up the word nationalize, Schumer did.

Cube, trust me, nobody's advocating this horrid scenario!! Right!?

Mustang...I hope we CAN wake up. I don't know.

AOW, you sure have to wonder how anyone would think THIS huge spending could actually help us when history shows it hasn't before..it does almost seem contrived.

Steve H...good way of putting it, sadly.

A black friend of a friend (I know this woman but not well) works in a large Dept Store here in LA. She told our mutual friend that Obama's election won her high-fives and congratulations...complete strangers, white and black, saying "WE WON!" because she's black!
She corrected them all with "I voted for a man with CHARACTER not Mr. Obama"
Many of her clients who voted for Obama are now coming back and talking with her about how worried they are; not sure this stimulus can work...maybe it's exactly not what needs to be done... yadda yadda...there are lots of scared people out there..

I know the feeling.

Anonymous said...

Oh Please.
So, the masks are off now, and the Reds are showing their true faces.

Well, I always suspected this was the game plan, especially with Mr.O, being the president.

Komrades, know this, we on the right...will NOT get out of the way, you will not take this country, we will not submit.



We stand ready and watch .

We have defeated you before and we will again.



I was born in freedom and intend to stay that way,free.
If we die , for freedom, so be it.

America is more important than a bunch of punks talking their lefty talking points.

The truth is, Obama and Co are in way over their heads.

They started a huge collapse, hoping to shape and tailor make this crisis so that they could over throw this country and re make it .

But, guess what??? It has accelerated at an alarming pace and like most fires, is burning out of control.


Yes, the plan was brought on a little quicker and threw Mr. Ears in there, but sometimes things have a way of taking on their own life.

Oh yes, we know who you are and we are not afraid.

How dare some say we should get out of the way.

How DARE you.


WVDOTTR

Z said...

WV? SING it, SISTAH!

Anonymous said...

DOTTR - BRAVO!!

Pris

Anonymous said...

Y'all probably should not encourage me...that soapbox will come out and we'll be here all night.


Get out of the way ....
Man oh man, we want to have a revolution..eh?

Well , look what happens when a revolution occurs.


It is obvious by some statements at this site that some are loudly stating we should all go and leave , or what ever.
We..who built this country, bled for it, sacrificed for it.

Just go..
Well, ain't gonna happen.


Only a bunch of losers want to punish achievers and nothing , I say nothing changes the truth.

The whole left group mind think is pretty much made up of whining losers who hate and plot against others.

Abberated and not normal.


Well, read your history books , lefties and see where these purges end .

We have a DOT secretary wanting to tax motorist miles now.

What bright idea will tomorrow bring?

One thing I sincerely hope for with the Obama era, and that is the 1960's radical idiots finally, finally get what they so richly deserve.
Notice how the left has NO tolerance for anyone???
Maybe, the people in this country will see that Democrat equals enemy of the people.
WVDOTTR

Bloviating Zeppelin said...

This pointing of fingers is pleasing on any number of levels, but as I recently learned, is not so easy to discern. YES, there WERE predatory lenders. And everyone else wanted a piece of the pie once the snowball began to roll. But what PRIMARILY set the ball rolling was the onus on "equality" and "fairness" in the home lending venue. Loans were made, because lenders were TOLD, to those by whom it was known had no possible chance of debt payback. This was governmental edict. Once the lenders got on board they all collective shrugged their shoulders and the game was afoot. Lenders, insurers, AND the idiot public were all players in this game, FORCED by governmental fiat.

The best, the BEST evaluatory instrument of this continuing event is, oddly enough, CNBC's House of Cards, a two-hour special that was played on February 13th.

You want complicity? After the governmental edict and everybody had their asses kicked on board, EVERYONE was complicit.

Run, don't walk, and somehow get a copy of or watch a replay of HOUSE OF CARDS.

Your jaw will simply hit the floor.

As well it should.

BZ

Anonymous said...

Ducky, I'm not clear on what it is you're advocating. Do you want the government to take over the banks on a temporary basis and have them auctioned off to private companies when the crisis is over? Are privately run banks your end goal?

From what I've read, Lincoln was a strong proponent of a national bank and government-funded infrastructure projects (canals, railroads, etc). Was Lincoln wrong, or did the circumstances of settling the frontier make such measures appropriate for the time? (That's not meant to be a leading question; I'm open to arguments.)

I had a conversation with someone who suggested there be a law saying banks can't force you to make payments if you lose your job. Nice that he was sympathetic to people in a hard situation. Interesting that at a time like this, he is suggesting measures that would make it harder for banks to be profitable?

If there is such a scarce supply of capital, why am I earning a scant 2% on a CD? Shouldn't the price of capital, e.g., interest rates, go up if it is in short supply?

That's enough for now.

Tio Bowser

Z said...

Tio ,this is a lot about slamming and bringing down the successful. Banks, the rich who've worked hard to get where they are, etc.

It's so often we hear the administration people sarcastically suggesting in so many ways that RICH is TERRIBLE, to be scoffed, greedy, etc.
"replace capitalism with socialism, THAT's FAIR, not having some rich!" "Giving tax credits to THE RICH is WRONG", etc etc..

What they forget is the RICH HIRE.

Remember, it's only been the last few years that the rich have been caught in ridiculous spending (millions for a toga party, etc.), caught doing horrors like Enron (tho the wrong person was condemned for that and I believe that was suspect, too)...WHY? This stuff didn't just happen! There's a percentage of RICH who ARE wrong, who aren't admirable. Suddenly, ALL the rich are painted like this by Democrats, our media, etc. WHY? IS IT PURPOSEFUL? I think so.

"The RICH STINK!" That's the NEW AMERICA. We have our kids thinking everyone deserves the big trophy, or your team's up for 10 minutes then the other team's up for 10 minutes and nobody should score more than the other because then SOMEONE will feel badly.
Do you see how that erodes SUCCESS? ..how it makes us weak and entitled?
This is ALL PLANNED, folks.

We thought we won the Cold War and the Communists and Socialists and Marxists all went into our schools and started the erosion process.

School texts have less and less history and more and more 'blame America for everything' and 'global warming' information. They aren't learning our history!
THEY SIMPLY DO NOT KNOW.

Are we condemned to repeat that history NOW in the way of another huge Boston Tea Party or Revolution?

I hope not but I don't see a way out. And our kids are pretty much lost.

Anonymous said...

Z, I agree with you though don't know enough specifics about Enron to say who caused it. Ducky's comment confused me because it seemed to suggest the banks would be auctioned off to private investors after the tax payers bail out a nationalized bank. I thought he was of the mind that private banks are doomed to fail.

I think there is an anti-bank bias. Someone told me the banks were being stupid for foreclosing homes because they lose money when no one is paying the mortgage. Aren't the banks going to do what they can to keep payments coming in? Not out of altruism but for their own self-interest? People seem to think bankers derive some sadistic pleasure from kicking people out of their houses. Of course, if the government is going to pay the mortgages, the bank has every incentive to threaten foreclosure.

Exactly how badly did these balloon rates expand? Aren't interest rates low right now?

Don't most states charge exhorbitant taxes on a secondary estate? Good idea or bad: cut these taxes and the 'rich' could buy secondary homes? Without the high tax, owners could sell their homes at higher prices; thus, higher property value. Am I on to anything?

Tio Bowser

Z said...

Hi, Tio...you're always on to something. (i hate you're so much smarter and more articulate than I am!! LOL..and TRUE)!!

Hey, ENRON's big book, I can't remember the title, MUST be read to understand that Ken Lay was only called back after retirement to try to help AFTER everything had hit the skids due to Skilling and friends..(is it Skilling? I think that's the name..)

I think I'm getting a stomach flu, so I'm not thinking too well here...dizzzeeeee and a bit queeeezzzzeeee! yikes!

Anyway, I digress: ENRON must be blamed for a lot, but not Ken Lay, not mostly, anyhow.

you said "Of course, if the government is going to pay the mortgages, the bank has every incentive to threaten foreclosure."

THEREIN lies SO MUCH...well said. What a horrid turn of events in this great country.

Ducky does seem to be of the mind that private banks are doomed to fail..and quite fine with it.

After reading some of this, I see that Ducky (i'm probably giving him too much credit, but..) is more about fixing things than blaming, which I admire BUT BUT...I believe that we can't fix things without a little blame because we have to smoke out the Dodds and Franks and EXPOSE what they did HONESTLY so we can get them OFF these committees. THEY SCREWED UP, they GO!!

And, for Schumer? He HAS said NATIONALIZE THE BANKS.... I love that."the gov't will FIX them and then sell them back" THE GOVERNMENT WILL FIX THEM? He even suggested they'd fire everyone in that bank corp and then proceed to fix things.

Well, I say FIRE THE CULPRITS in the Dem party who encouraged and propogated the housing nightmare and then go on!!!

Z said...

FROM LAW & ORDER TEACHER: ATTENTION!!

(this is so good, and L&O had corrected himself in another comment so I incorporated the information he'd corrected into where he'd wanted it to be added, deleted the other 2 comments, and have reproduced the one final and terrific comment here..!)

It would seem that certain of us would like a return to the days of the Bank of the US. It was instituted at the beginning of the republic when an infrastructure to deal with the Revolution debts did not exist.

It became a cesspool of corruption under Nicholas Biddle and was finally killed by Andrew Jackson in 1832. A system of "pet banks" was set up in its stead. Overspeculation in unsettled western lands led to the failure of many. The market worked and killed off the mismanaged banks. Unfortunately, it took the Panic of 1837 to do it, but overspeculation has always been a problem.

Now it seems as though our friends on the left want a return to this system. It has been proven time and again and apparently ignored now, that too much power in the hands of a few is dangerous. Jackson was right to do away with the Bank of US.

What do they say about not learning from history?.

It became a cesspool of corruption under Nicholas Biddle and was finally killed by Andrew Jackson in 1832. A system of "pet banks" was set up in its stead. Overspeculation in unsettled western lands led to the failure of many. The market worked and killed off the mismanaged banks. Unfortunately, it took the Panic of 1837 to do it, but overspeculation has always been a problem.

Now it seems as though our friends on the left want a return to this system. It has been proven time and again and apparently ignored now, that too much power in the hands of a few is dangerous. Jackson was right to do away with the Bank of US.

What do they say about not learning from history?

Law and Order Teacher said...

Z,
Thanks for covering my ineptness.

Z said...

Right, L&0! As if 'ineptness' would make me want to work that hard to make sure everybody read what you'd meant to write!

such a good comment it deserved it.

Anonymous said...

Z, you're too kind, but I'll give up my trick: Think what Thomas Sowell would say. The general things I've taken from him are 1) view things in light of the incentives associated with it, and 2) compare things to the next best alternative, not the perfect condition that exists in the immagination.

My sister and I came up with something of a pantheon of conservative thinkers: Sowell, Coulter, and Scallia. For the sake of diversity, we might have to throw a male WASP in there.

Tio Bowser

Z said...

Tio..great advice and super list of excellent thinkers. Thanks!