Organizing for America | Posts with the tag Economic Collapse

Posts with the tag Economic Collapse

By Robert Felix - Oct 21st, 2008 at 1:47 pm EDT

Cooperating in Changing Times

A Blog by the Author of ThreeWordMeditation.com

Where’s the Outrage?

Americans should be outraged. Just who are we rescuing here anyhow, the tycoons of Wall Street? It’s certainly not Main Street America. Most of us are looking at falling home prices and retirement investment values. Throw in rising unemployment and increasing food and energy costs and there should be outrage. The political players in Washington say that they are saving us from a potential depression era financial collapse. How did it ever come to this? In a word: imbalance.

Mail to a Friend | Link | Comments (0) | Report Objectionable Content

Citizen Debate

By Annie L. - Sep 26th, 2008 at 5:24 pm EDT

Also listed in: 6 groups

A dear friend came to visit yesterday. I discovered her husband is a staunch McCain supporter totally by mistake -- I mentioned watching Senator Obama's message about the economy and my concerns about a big business bailout and nation-wide depression. That set the poor guy off. He began ranting about the OSAMA/OBAMA communist loving, etc.... you get the point. Obviously there was no convincing him that his viewpoint was flawed, so I let him finish ranting while my friend looked embarassed.

After the rant, he asked me some pointed questions. Do I want to retain my right to bear arms? Do I want our military to remain strong? Of course I do -- those are fundamental rights and necessities in these troubling times. I told him I also want to retain my right to decide which medical procedures are appropriate for me, I want to see everyone with healthcare, I want to see parental rights transcend gender -- personal issue, I have an ex daughter-in-law that has taken to drugs and neglecting her son while his father, my son, watches helplessly because she can say anything she wants and her paranoid delusions are believed because she is female... they share custody by verbal agreement, but whenever she needs something, she holds the baby hostage to get her way...

Sorry, personal rant over...

Meanwhile, I also want to see this country's economic crisis taken care of in a prudent manner. My friend's husband made the suggestion that seems to be going around certain circles -- instead of giving X billion dollars to companies that are going down because people can't afford to pay their mortgages, give that money to American citizens! If that $Xbillion were portioned out to the citizens, they could pay their bills, pay down their credit, and stave off foreclosure! The business would still get their money, people would be financially solvent, and it would restore those failing banks to stability! Instead of relying on a "Reagan-omic" plan or "trickle-down" effect, let's let the money trickle up! As people pay their bills, they repair their torn credit... the banks still get their money... while citizens are repairing their credit and keeping their homes, the companies have some breathing room to repair their erroneous policies! According to his data, every person would receive $300,000.

What a glorious idea! Everyone wins, and the govt doesn't have to bail out some company with their "golden parachute". American people will feel like their government is there for them, and the companies don't lose a thing! What a deal!

There is a flaw with this idea, though, and I think it was decimal in nature... if the govt took $750 billion and split it among approximately 250 million people, that's only $3000 per person over the age of 18. Hmmm. What if we only targeted homeowners? that's 67% of the population... that would only be $4600... is that enough for someone to save their home? Probably not, since housing prices are currently inflated, that might be a payment, maybe two. Would it be enough to give homeowners some breathing room? Maybe. That $3000 is not enough to reduce debt per person either, since the average non-collateral debt in this country is $872 billion. That's not counting mortgages, folks!

We don't want our hard-earned money to fall into the hands of unscrupulous companies, but we did it to ourselves. Even if the govt gives that money to those companies (and we know they will) that doesn't excuse the average American from THEIR debts... Where's our parachute? To hell with the parachute, can we just hit the "re-set" button and start over? If the govt can excuse those companies and bail them out, can we, the little people, get the same consideration?

It would be nice, but I don't see it happening.

Mail to a Friend | Link | Comments (0) | Report Objectionable Content

Start A Revolution--Urgent and Time Sensitive! Spread The Word

By Cluesearch - Sep 21st, 2008 at 3:38 pm EDT

Also listed in: Coppin state University Students for Obama2008 | Women for Obama

We must stand up and tell Congress that we need more information before they act to spend billions of dollars we don't have. If you agree with me please help me get the word out by sending this link to everyone you know. Our nation is depending on our action! Please look at my You Tube and help spread the word. If you Don't see a you tube post below go to this link instead. http://www.youtube.com/watch?v=PjRKDg4i3yw or http://www.ppvoices.com/2008/09/21/enough/

Mail to a Friend | Link | Comments (0) | Report Objectionable Content

My Recent Article at OpEdNews about McCain's disastrous economic judgement

By eznelson - Sep 19th, 2008 at 3:47 am EDT

Also listed in: St. Paul for Obama | Stephanie Miller Fans For Obama

Out of hundreds of articles and postings at OpEdNews my article titled "Alan Greenspan calls the McCain Economic Plan a Disaster for the Country" is the number 4 most viewed article for the week.

Abstract: McCain’s plan called a disaster by Alan Greenspan and McCain continues to say the economy is fundamentally strong as it collapses around him and $700 billion in shareholder wealth and retirement accounts evaporate in one day.

Enjoy

Mail to a Friend | Link | Comments (0) | Report Objectionable Content

Obama: Rebuilding and Protecting the Economy During My Presidency : Prepared Remarks, Espanola, New Mexico September 18

By Stephen Fox, Contributing Editor New Mexico Sun News - Sep 18th, 2008 at 11:20 pm EDT

Also listed in: 10 groups

Obama's Remarks in Espanola, New Mexico on Solutions for Financial Market Turmoil
By Stephen Fox, Contributing Editor New Mexico Sun News - Sep 18th, 2008 at 10:14 pm EDT

Comments | Mail to a Friend | Report Objectionable Content
Espanola, New Mexico
As Prepared for Delivery

I just want to begin by saying a few words about the turmoil in our financial markets. We are in the midst of the most serious financial crisis in generations. Three of America's five largest investment banks have failed or been sold off in distress. Our housing market is in shambles, Monday brought the worst losses on Wall Street since the day after September 11th, and the Fed has had to take unprecedented action to prevent the failure of one of the largest insurance companies in the world from causing an even larger crisis. Just this morning, we learned that the Fed had to act with central banks around the world to maintain the functioning of our financial system.

Everywhere you look, the economic news is troubling. But for so many Americans, it isn't really news at all.

600,000 workers have lost their jobs since January. Home values are falling. Your paycheck doesn't go as far as it used to. It's never been harder to save or retire; to buy gas or groceries; and if you put it on a credit card, they've probably raised your rates. In so many cities and towns across America, it feels as if the dream that so many generations have fought for is slowly slipping away.

So I know these are difficult days. And I know there are a lot of families that are feeling anxiety right now about their jobs, about their homes, about their retirement savings. But here's what I also know. This isn't a time for fear or panic this is a time for resolve and for leadership. I know we can steer ourselves out of this crisis. That's who we are. That's what we've always done as Americans. Our nation has faced difficult times before. And at each of those moments, we've risen to meet the challenge because we've never forgotten that fundamental truth that here in America, our destiny is not written for us, but by us.

But another thing I know is this we can't steer ourselves out of this crisis by heading in the same, disastrous direction. We can't change direction with a new driver who wants to follow the same old map. And that's what this election is all about.

My opponent's first reaction to this crisis on Monday was to stand up and repeat the line he's said over and over again throughout this campaig "the fundamentals of our economy are strong." The comment was out so out of touch that even George Bush's White House couldn't agree with it.

But the truth is, John McCain's attitude was nothing new. It reflects the same economic philosophy that he has had for twenty-six years in Washington. The same philosophy he shares with George Bush.. It's the philosophy that says we should give more and more to those with the most and hope that prosperity trickles down. It's the philosophy that says even common-sense regulations are unnecessary and unwise. It's a philosophy that lets Washington lobbyists shred consumer protections and distort our economy so it works for the special interests instead of working people.

That's the philosophy John McCain believes in, and has always believed in. He's spent decades in Washington supporting financial institutions instead of their customers. Phil Gramm, one of the architects of the de-regulation in Washington that led directly to this mess on Wall Street, is also the architect of John McCain's economic plan the man John McCain wants to put in charge of the Treasury Department if he's President. You remember Phil Gramm he's the guy who said that we're going through a 'mental recession'; and the same man who called the United States of America a "nation of whiners."

That's who John McCain listens to. He has consistently opposed the sorts of common sense regulations that might have lessened the current crisis. When I was warning about the danger ahead on Wall Street months ago because of the lack of oversight, Senator McCain was telling the Wall Street Journal and I quote, I'm always for less regulation."

Except now, with the magnitude of the crisis apparent even to the Bush White House, John McCain wants to reverse course. Now, all of a sudden, he's unleashed an angry tirade against all the insiders and lobbyists who've supported him for twenty-six years the same folks who run his campaign.

On Monday, he said the economy was fundamentally sound, and he was fundamentally wrong.

On Tuesday, he said the government should stand by and allow one of the nation's largest insurers to collapse, putting the well-being of millions of Americans at risk. But by Wednesday, he changed his mind.

He said he would take on the ol' boy network, but he seemed to forget that he took seven of the biggest lobbyists in Washington from that network and put them in charge of your campaign.

John McCain can't decide whether he's Barry Goldwater or Dennis Kucinich. Well, I have a message for Senator McCain:

You can't just run away from your long-held views or your life-long record. You can't erase twenty-six years of support for the very policies and people who helped bring on this disaster with one week of rants.

What we need is honest talk and real solutions. Senator McCain's first answer to this economic crisis was get ready for it a commission. That's Washington-speak for "we'll get back to you later." Folks, we don't need a commission to spend a few years and a lot of taxpayer money to tell us what's going on in our economy. We don't need a commission to tell us gas prices are high or that you can't pay your bills. We don't need a commission to tell us you're losing your jobs. We don't need a commission to study this crisis, we need a President who will solve it and that's the kind of President I intend to be.

Now that this disaster has hit, John McCain is calling for the firing of the Security and Exchange Commissioner. Well here's what I say: In 47 days, you can fire the whole Trickle-Down, On-Your-Own, Look-the-Other-Way crowd in Washington who have led us down this disastrous path.

Let's be clear: what we've seen the last few days is nothing less than the final verdict on an economic philosophy that has completely failed. And I am running for President of the United States because the dreams of the American people must not be endangered any more. It's time to put an end to a broken system in Washington that is breaking the American economy. It's time for change that makes a real difference in your lives.

It was two years ago that I introduced legislation to stop mortgage transactions that promoted fraud, risk or abuse. It was one year ago that I called on our Treasury Secretary and our FED Chairman to bring every stakeholder together and find a solution to the subprime mortgage meltdown before it got worse. In March, when John McCain was saying "I'm always for less regulation," I called for a new, 21st century regulatory framework to restore accountability, transparency, and trust in our financial markets.

The events of the past few days have made clear that we need to do more right now. We do not have time for commissions and we can't afford to lurch back and forth between positions when dealing with an economic crisis, like my opponent has. That is why I am calling on the Treasury and the Federal Reserve to use their emergency authorities to maintain the flow of credit, to support the availability of mortgages, and to ensure that our financial system is well-capitalized. Tomorrow I will be convening a meeting with my top economic advisors to discuss a plan based on the ideas I've been talking about with former Fed Chairman Paul Volcker and other advisors of mine. Then I'll call for the passage of a Homeowner and Financial Support Act that would establish a more stable and permanent solution than the daily improvisations that have characterized policy-making over the last year. Specifically, it would accomplish three primary goals.

First, it will provide capital to the financial system. Second, it will provide liquidity to enable our financial markets to function. And third, it will do what I've been calling for since I supported legislation on it early last spring, which is to get serious about helping struggling families to re-structure their mortgages on more affordable terms so they can stay in their homes. We've made a good start but we need to do much, much more. We cannot forget that there are many homeowners who are in crisis through no fault of their own, and a solution that does not have them at its core is no solution at all.

To jumpstart job creation, I've also proposed a $50 billion Emergency Economic Plan that would save 1 million jobs by rebuilding our infrastructure, repairing our schools, and helping our states and localities avoid damaging budget cuts.

To help people stay in their homes, I will change our bankruptcy laws, and I'll offer a tax credit to struggling families that will take 10% off your mortgage interest rate. I'll institute a Home Score system that will help every consumer figure out whether they'll be able to make their mortgage payments before they buy their house. And I will crack down on predatory lenders, lenders who all too often target Hispanic communities, with tough new penalties that will treat mortgage fraud like the crime that it is.

But the most important thing I will do as President is restore opportunity for all Americans. To get our economy growing, we need to recapture that fundamental American promise. That if you work hard, you can pay the bills. That if you get sick, you won't go bankrupt. That your kids can get a good education, and that we can leave a legacy of greater opportunity to future generations.

That's the change the American people need.

Change means a tax code that doesn't reward the lobbyists who wrote it, but the American workers and small businesses who deserve it. I will stop giving tax breaks to corporations that ship jobs overseas, and I will start giving them to companies that create good jobs right here in America. I will eliminate capital gains taxes for small businesses and start-ups that's how we'll grow our economy and create the high-wage, high-tech jobs of tomorrow.

I will cut taxes cut taxes for 95% of all working families. My opponent doesn't want you to know this, but under my plan, tax rates will actually be less than they were under Ronald Reagan. If you make less than $250,000 a year, you will not see your taxes increase one single dime. In fact, I offer three times the tax relief for middle-class families as Senator McCain does because in an economy like this, the last thing we should do is raise taxes on the middle-class.

I will finally keep the promise of affordable, accessible health care for every single American. I know this is a critical issue in the Hispanic community, where one in three people don't have health insurance. Under my plan, if you have health care, my plan will lower your premiums. If you don't, you'll be able to get the same kind of coverage that members of Congress give themselves. And I will stop insurance companies from discriminating against those who are sick and need care the most

I will create the jobs of the future by transforming our energy economy. We'll tap our natural gas reserves, invest in clean coal technology, and find ways to safely harness nuclear power. I'll help our auto companies re-tool, so that the fuel-efficient cars of the future are built right here in America. I'll make it easier for the American people to afford these new cars. And I'll invest 150 billion dollars over the next decade in affordable, renewable sources of energy wind power and solar power and the next generation of biofuels; an investment that will lead to new industries and five million new jobs that pay well and can't ever be outsourced

And now is the time to finally meet our moral obligation to provide every child a world-class education, because it will take nothing less to compete in the global economy. I refuse to accept that overcrowded, underfunded schools are the best we can do for our kids. I refuse to accept four in ten Hispanic students dropping out of high school. I know we can do better than that. So I'll recruit an army of new teachers, and pay them higher salaries and give them more support. But in exchange, I will ask for higher standards and more accountability. And we will keep our promise to every young American if you commit to serving your community or your country, we will make sure you can afford a college education.

This is the change we need the kind of bottom up growth and innovation that will advance the American economy by advancing the dreams of all Americans.

Times are hard. I will not pretend that the change will need will come without cost though I have presented ways we can achieve these changes in a fiscally responsible way. I know that we'll have to overcome our doubts and divisions and the determined opposition of powerful special interests before we can truly reform a broken economy and advance opportunity.

But I am running for President because we simply cannot afford four more years of an economic philosophy that works for Wall Street instead of Main Street, and ends up devastating both.

I don't want to wake up in four years to find that more Americans fell out of the middle-class, and more families lost their savings. I don't want to see that our country failed to invest in our ability to compete, our children's future was mortgaged on another mountain of debt, and our financial markets failed to find a firmer footing.

This time this election is our chance to stand up and say: enough is enough!

We can do this because Americans have done this before. Time and again, we've battled back from adversity by recognizing that common stake that we have in each other's success. That's why our economy hasn't just been the world's greatest wealth generator it's bound America together, it's created jobs, and it's made the dream of opportunity a reality for generation after generation of Americans.

Now it falls to us. And I need you to make it happen. If you want the next four years looking just like the last eight, then I am not your candidate. But if you want real change, if you want an economy that rewards work, and that works for Main Street and Wall Street; if you want tax relief for the middle class and millions of new jobs; if you want health care you can afford and education so that our kids can compete; then I ask you to knock on some doors, and make some calls, and talk to your neighbors.

The Hispanic community will play a critical role in this election. Some of the closest contests this November will be in states like Florida, Colorado, Nevada, and here in New Mexico: states with large Hispanic populations.

And if you have any doubt about whether you can make a difference, just remember how, back in 2004, 40,000 registered Hispanic voters in New Mexico didn't turn out on Election Day. Senator Kerry lost this state by fewer than 6,000 votes. 6,000 votes. And today, in 2008, an estimated 170,000 Hispanics in New Mexico aren't registered to vote.

So I'm not taking a single Hispanic vote for granted in this campaign. We're meeting with Hispanic leaders, and reaching out to Hispanic organizations, and holding Hispanic voter registration drives across America.

And if you help me organize and get people to the polls to cast their votes on November 4th, then I promise you we will win New Mexico, we will win this election, and we will change America together.

Barack Obama, a Democratic Senator from Illinois, is the Democratic presidential nominee. Page Printed from: http://www.realclearpolitics.com/articles/2008/09/obamas_remarks_in_espanola_new.html

see also: McCain Team Includes 83 Wall Street Lobbyists: Even More Corporate Control of Government than Bush/Cheney?

http://www.opednews.com/articles/McCain-Team-Includes-83-Wa-by-Stephen-Fox-080917-377.html

Mail to a Friend | Link | Comments (5) | Report Objectionable Content

The Economic Crisis

By Jaybyrdskynyrd - Sep 16th, 2008 at 5:51 am EDT

THE BIBLE Revelations
Chapter 18

To all Concerned;

A Letter on the world of economic disaster

Please read very slowly and carefully: Aloud

18:1  After these things, I saw another angel coming down out of the sky, having great authority. The earth was illuminated with his glory.

18:2  He cried with a mighty voice, saying, "Fallen, fallen is Babylon the great, and she has become a habitation of demons, a prison of every unclean spirit, and a prison of every unclean and hateful bird!

18:3  For all the nations have drunk of the wine of her impure passion, the kings of the earth committed fornication with her, and the merchants of the earth grew rich from the abundance of her luxury."

18:4  I heard another voice from heaven, saying, "Come out of her, my people, that you have no participation in her sins, and that you don't receive of her plagues,

18:5  for her sins have reached to the sky, and God has remembered her iniquities.

18:6  Return to her just as she returned, and repay her double as she did, and according to her works. In the cup which she mixed, mix to her double.

18:7  However much she glorified herself, and grew wanton, so much give her of torment and mourning. For she says in her heart, 'I sit a queen, and am no widow, and will in no way see mourning.'

18:8  Therefore in one day her plagues will come: death, mourning, and famine; and she will be utterly burned with fire; for the Lord God who has judged her is strong.

18:9  The kings of the earth, who committed sexual immorality and lived wantonly with her, will weep and wail over her, when they look at the smoke of her burning,

18:10  standing far away for the fear of her torment, saying, 'Woe, woe, the great city, Babylon, the strong city! For your judgment has come in one hour.'

18:11  The merchants of the earth weep and mourn over her, for no one buys their merchandise any more;

18:12  merchandise of gold, silver, precious stones, pearls, fine linen, purple, silk, scarlet, all expensive wood, every vessel of ivory, every vessel made of most precious wood, and of brass, and iron, and marble;

18:13  and cinnamon, incense, perfume, frankincense, wine, olive oil, fine flour, wheat, sheep, horses, chariots, bodies, and people's souls.

18:14  The fruits which your soul lusted after have been lost to you, and all things that were dainty and sumptuous have perished from you, and you will find them no more at all.

18:15  The merchants of these things, who were made rich by her, will stand far away for the fear of her torment, weeping and mourning;

18:16  saying, 'Woe, woe, the great city, she who was dressed in fine linen, purple, and scarlet, and decked with gold and precious stones and pearls!

18:17  For in an hour such great riches are made desolate.' Every shipmaster, and everyone who sails anywhere, and mariners, and as many as gain their living by sea, stood far away,

18:18  and cried out as they looked at the smoke of her burning, saying, 'What is like the great city?'

18:19  They cast dust on their heads, and cried, weeping and mourning, saying, 'Woe, woe, the great city, in which all who had their ships in the sea were made rich by reason of her great wealth!' For in one hour is she made desolate.

18:20  Rejoice over her, O heaven, you saints, apostles, and prophets; for God has judged your judgment on her."

18:21  A mighty angel took up a stone like a great millstone and cast it into the sea, saying, "Thus with violence will Babylon, the great city, be thrown down, and will be found no more at all.

18:22  The voice of harpists, minstrels, flute players, and trumpeters will be heard no more at all in you. No craftsman, of whatever craft, will be found any more at all in you. The sound of a mill will be heard no more at all in you.

18:23  The light of a lamp will shine no more at all in you. The voice of the bridegroom and of the bride will be heard no more at all in you; for your merchants were the princes of the earth; for with your sorcery all the nations were deceived.

18:24  In her was found the blood of prophets and of saints, and of all who have been slain on the earth."

I sent this to the Federal Trade Commission, The New Your Stock Exchange, The Cuurency Exchange Commission and several other Governmaent and Non-Government entities.

Over a year ago and assuredly did not expect anyone to take me seriously.

I would like to say that even though is associated with the Bible and Religion this stuff is not either! This stuff is “Gods” stuff and the Man ( not to Anthromorphize the Position) does not care whether any one believes it or not.God is Loving and gentle and kind, But He does not care what any one individual believes. Religion is a wonderful thing, We have the right to believe in whom ever and what ever we as citizens would like too. The first Amendment of our constitution so states. It would Behoove the curent Government Officials and the current financial wizards of the world to pay attention to these passages! With the unexcapable collapse of the World Economic System so will go the Socio-economic System and all Peoples will suffer. Remember Fish stink from the head down and we will all suffer from this collapse!

It would also Behoove the current Nominee's of the Democratic and Repubican Parties to read this as well...

Tahnk You

James L Stratton

Mail to a Friend | Link | Comments (0) | Report Objectionable Content

Posts

Content on blogs in My.BarackObama represents the opinions of community members and in no way should be interpreted as endorsed or approved by the campaign.