Granted, the Big Three is in dire straits and the temptation is to let them pass on. Still, many horses though weak are worthy to be served—the millions or so grazing in the auto industry fields. What to do with the 10,000 dealerships and their employees, the auto parts stores in every community, the hundreds of thousands on the assembly line? The stock answer too big too fail. Notwithstanding the predilection nationwide to bash unions it is unfair to place all the blame on the UAW for ...
It's usually wise not to throw good money after bad, but I'm a sucker when it comes to American cars. I was mad at Ford just for dropping the great name Continental in favor of the dull TownCar; I was particularly elated for one year when it returned with the Lincoln Zephyr and then within a year changing it to some crazy "hitech" number. It goes without saying I was livid when the Thunderbird was let go, only to return within a few years a sad replica of the 50s original. I ...
Is Wall Street's post election down trend really attributed to more bad news on unemployment or are they venting a vicious caveat to Obama?
Let’s face up to fact, despite the current financial crisis, this country is a nation of consumers and to regain its lifestyle must continue to spend. Still, there is such a thing as moderation in pursuit of happiness. Oh, the wealthy must still have their car museums and mansions; the slightly lower scale their spacious homes and semi-private neighborhoods, together with flying first class to vacation lands or more moderate family trips via super SUVs to a resort, ranch or Disne...
MSNBC which is clearly for Obama is running every ten minutes or so ads on Reverend Wright at his worst sponsored by the Republican party. I suppose in the station’s defense it is honoring free speech, but the bottom line is profit and greed. To McCain’s credit he has steered away from such negatives—much to Palin’s distress—for he is an honorable man, although he has had his own religious issues that could have backfired. Speaking of MSNBC, I wish the ...
• O pportunity for middle class growth and prosperity, putting an end to the widening gap • B etter solution for healthcare, particularly in ending the preexistent clause and catastrophically financial personal disasters • A uthentic leadership in reaching out for solutions in foreign rela...
The much talked about Redistributor in Chief took place in 1981 when Reagan took the progressive tax structure on the wealthy from 70% down to 28%, the inevitable consequence of which simply brought into reality the adage the rich got richer and the poor got poorer. The additional bonus was the rise in numerous tax shelters to the point that true earnings were distorted. and to rub it in, investors looked to cheap foreign labor to enrich themselves further. Meanwhile in Washington unio...
Particularly during the Reagan and the Bush years though Clinton was not completely inculpable, financiers did not care for these controls and regulations of principals, thus, they exploded leverage in order to inflate the interest takeover where profits are harbored. When domestic investors were no longer satisfied with Government Securities and stodgy corporate holdings—as China, Japan and Saudi Arabia are today—they jumped for the over inflated bubbles blown by an irrational hou...
How about allowing delinquents to stay in their homes and pay rent, 20% of which goes toward principal? OR extend 30 yr. mortgage to 40 yr. These two options could detoxify the loans and allow the financial world to get on with it. And btw as long as we're in a bailout mode why not have the government buy out bankruptcy level medical bills? Did I mention a buy out of my beta tapes library?
On this site for years I was arguably the only one who would on occasion mention the New Deal in EARNEST. It seems with Reaganomics in disarray the ghost of FDR hovers between the headlines. Apparently the time is right to terminate Ponzi's funny money game and begin establishing an economic system that prioritizes real investments in making THINGS that truly matter in lieu of money making money and losing sight of the pragmatic aim of wealth.
There's little doubt that the race would not even be close were the Dem candidate white. There are still those who perceive Obama as Jackie Robinson in his first rough years in the majors rather than cheering him on in later years for his greatness. After these sixty years it will depend on the electorate gradually coming around to Obama as a Jackie of later years to make the race not even close. I don't think that perception will happen unless Obama edges out this clos...
It's not the $700 billion that raises my hackles, but the distrust that it will only prop-up a house of cards. If it were up to me I would let the thieves of Wall Street fall. They don’t deserve a bailout of any kind. Frankly it would be a great catharsis for the country in witnessing the dynamic of comeuppance when the pharaohs of the great temple turned to dust. For too long the artificial systemic of money making money under the cloak of subprimes, derivatives, and other arcan...
Remember the old-fashioned collateral--you know, what made you the guarantor of your own loan? Your assets or at least very secure employment and minimal debits used to be pre-requisites for the financial institution to approve a loan. Not anymore: the Ponzi principle is now the mantra for the financial sector by keeping the flow of funny money until the "capital" is exhausted with minimal assets to back them up. It's not pretty if you ever drove by a huge lot where thousa...
Now we know why Obama didn't choose Hillary as a running mate. It had nothing to do with her baggage or husband, but rather a premonition of the development of the Sarah syndrome stealing the spotlight from McCain. It reminds me of JFK beginning joint appearances with his wife something like: "Pardon my intrusion; I know you're here to see Jackie." Of course, subliminally JFK knew she was a tremendous asset--certainly more so than having Johnson at his elbow. I rather doubt...
Why in the world would the Republicans choose ABC’s Chuck Gibson to interview Palin? It was tough enough to make a solo debut without this pompous broadcaster shooting questions at her. Obviously she was nervous and programmed but she would have come off better had she been more relaxed with the likes of Judy Woodruff or Katie Couric. Nor will Sean Hannity coming up next week going to help her out because he’ll be putting words in her mouth and fawning all over...