Debate: "No Chicken in Every Pot"

No, the debate didn't change anything and wasn't revealing. And I have to clarify myself. The Bail Out by the Feds for the USA Financial Crisis is not about any problem in the American Way or the American System. There are some loop holes in the financial system that have been exploited and have put millions of Americans at risk of loss of 1) jobs 2) savings 3) retirement savings and retirement instruments like 401 (K) accounts 4) repayment of social security account debt in the near future 5) loss of American reputation as world standard for financial stability and financial standard of transparent markets 6) loss of available credit for car buyers, home buyers, new business owners, and corporations.

The "Bailout" at the top for the largest financial corporations seems like working at the wrong end. The bulk of Americans may be wondering what US Federal Taxes and the Federal Government will do to protect or help households. Where is the chicken and the security for households?

America will recover from almost everything you can imagine because the strength of Americans is to do what it takes and the economic power and wealth of American can hardly be imagined. Our economy just simply will keep on rolling no matter the small blips of job losses or banking problems.

Just look back at World War II at all we went through as a country - those values are still alive in the USA.

The debate reflects status quo - no surprise. And it is no surprise that politicians hedge and avoid clear statements. BUT all federal politicians should know from study how we all saw Neil Bush take the blame for the Saving and Loan scandal in the 1970s. There is no difference today. And today's Financial Crisis was always predictable.

I am surprised to see the lack of Economists involved and consulted by Congress and the Senate. It should be clear enough how to change the regulations that the SEC and FDIC would help to transmit to the financial industry. The issue is whether to save big business and save bad financial mangers...and finally and most important how to stay with the focus of helping the tax payer and individual Americans.

Business Ethics, Finance, Health Care, What Else?

While we are all looking at the Finance Crisis, let's ask what else do we really care about changing in the next 5-10 years in the USA? What are the main concerns in your life.

Here is a video from last year that introduces Business Ethics pretty well during an interview of John Bogle by Bill Moyers...

http://www.pbs.org/moyers/journal/09282007/watch.html

Systemic Financial Problems in the US

Don't let the Lobbyist Write the Legislation to fix the US Financial Scandal. And don't believe any Senator or Congressman that says they need to study the problem or form a new committee. All they need is a History book and their own library.

Some people don't get it yet. Of course individual Americans have to take responsibility for defaulting on mortgages. But the system was rigged to allow people to sign mortgages they could not pay back and mortgages they could not qualify for. The system was set up to allow all the middlemen from the mortgage and loan up through brokers and wall street firms to make money without responsibility for any defaults of loans.

It is ludicrous that the profiteers in the finance industry won't have to pay any money back and that the government will pay with our taxes for bad loans without any compensation or quid pro quo back to the tax payer or our government. Many people have gotten richer by fleecing the little people, but no one has yet really dug up all the fallout and costs to taxpayer and the whole economy.

BTW the bailout of AIG and the Financial Sector already will take the unfunded Debt in the USA to over $10 Trillion. I don't like what McCain has said about forming a committee or a board- that sounds like an expensive, slow boat to China that won't cut the mustard. We don't need a government study to fix the problem. The US has plenty of laws on the books that are either not enforced or were overturned with subsequent legislation. Our Legislators should not be allowed to play dumb and stall till lobbyist write the next plan with all the loop holes that they will need over the next decade.

Bill Moyers, Gretchen Morgenson, Floyd Norris, Discuss US Systemic Finance Problems and the Depth of Economic Problem today.
http://www.pbs.org/moyers/journal/09192008/watch.html

Election 2008, Longterm Damage to US Financial and Economic Systems

Each of us has to vote on principles this year in the General Election/Presidential Election. Politics are continuing as normal, but even the Gen-Xers know that nothing will change in Washington. We watch TV and wait for plans and specifics of policies, but politicians hold out so that they can please the lobbies after the election. No promises to live up to. Nothing to explain when in office. Status Quo.

But what dangers exist in the budget and the unfunded programs ...and the unfunded National Debt of $10 Trillion Dollars? David Walker is the former Comptroller General of the USA. He has been trying to expose the folly of the Federal Budget and the future crash we have to expect. It doesn't matter what your age is. You will be effected by the Federal Budget and Tax burden. Currently we are only paying debt service, not paying off any of our debt. But that is not new...it is 30-40 years old as a US Policy. We use credit instead of dollars. just like we use dollars instead of gold. I know certain people only want to hear positive words when it comes to our government policy and decision...but. Hey, you laugh at people that live above their means as foolish.

One danger is evident in the falling value of the dollar overseas. Any organization that owns too much debt faces higher interest rates on loans as the value of debt increases risk. But now the foriegn countries that have been buying US Debt are now buying US Corporations and Property at discount prices due to the "Falling Dollar". Remember in the 80's when the Japanese scared so many Americans with their property ownership. It has happened before and that was when our auto industry was stronger...

Bear Sterns, Merrel Lynch, Lehman, AIG, Enron, World Com,....Keating Five, Jack Abramoff, Sub-Prime Mortgages, Financial Derivatives, failed corporations giving bonuses to executives, Legislative Transparency and Accountability Act of 2006, ...

According to Wikipedia:

The Lobbying and Disclosure Act of 1995 (2 U.S.C. 1601) was legislation aimed at bringing a level of accountability to federal lobbying practices in the United States. The law was amended substantially by the Honest Leadership and Open Government Act of 2007.[1] Under provisions which took effect on January 1, 2006, Lobbyists are required to register with the Clerk of the House of Representatives and the Secretary of the Senate. Anyone failing to do so is punishable by a civil fine of up to $50,000. The clerk and secretary must refer any acts of non-compliance to the United States Attorney for the District of Columbia.

According to Opensecrets.org

Number of Lobbyists
1998.....10,689
1999.....13,704
2000....12,760
2001....12,075
2002....12,344
2003....13,171
2004....13,416
2005....14,547
2006....15,571
2007....15,771
2008....17,107

I don't this these Lobbyist are working for you and me, except maybe the AARP. Politicians are rewarded and lauded for spending money. But there is no reward for balancing the budget, curbing federal spending, fighting earmarks, and reducing federal programs. Who will fight in Washington to fund social security, welfare, and medicare/medicaid? Who in the "Beltway" will pay off the federal debt for our children and grandchildren??

And the "News of the Day", who will implement current financial laws and reform US financial practices? The Answer: "We don't Know and We have heard no specific plans in this Election 2008".

Election 2008: Rebuilding Financial Markets, Banks, and the Economy

Make no mistake...we are stripping bare the US Economy and Banking System this week as more banks fail. The Federal Reserve (The FED) is injecting money into the banking system to increase liquidity for future loans. However I am not listing here the money injected since most of us can't understand the funds anyway. The real issue seems to be failing banks, failing investment firms like Merell Lynch and of course the risk of chaos from AIG failing. The government (The FED) is working on decision to step in and fund AIG to avoid Bankruptcy.

As these large corporations teeter on the brink and pundits gauge whether the whole economy will be struck...there is another perspective. Stock holders and investors like the American Middle Class are at risk for their retirements and savings.

There are plenty of questions Americans will be asking. Was the Federal Chairman, Mr. Greenspan or Security Exchange Commission (SEC) Chairman's at fault? Was the US Congress at fault?

Election 2008, What are your most importanat issues??

Election 2008, What are your most important issues???

Health care, Iraq War, Corporate Welfare, Globalization of Jobs, Secure Borders, Immigration, Corruption, Lobbying in Washington, Federal Debt, Business Ethics, or the Economy...I've gotten tired or burned out on the war, since I anticipated that we would go into Iraq and all the implications of what that meant in humans costs and why we were going. Hopefully everyone will know by November 4th the costs to the US in terms of US Debt. Being an American seems to mean sometimes we don't worry about the cost, specific plans, success strategies, end state objects, specific milestones that need to be met, etc. America is just so rich that our budget hasn't been something that most Americans have had to worry about for more than a decade.

In my eyes we have spent too much on war and haven't planned for timely success, but rather planned for longterm occupation as a type of peace-making force.

I really have to hammer the press along with the US Congress and Senate about the lack of strategic planning and budget execution with regard to Iraq and Afghanistan.

I have a couple of provocative videos from interviews of Micheal Moore in Youtube.com. Micheal Moore gets in Wolfblitzers Face. You have to hand it too Micheal Moore for his films forecasting true trends or picking important current events 1). GM Outsourcing/Globalization in the US auto industry 2). Going to War in Iraq's human cost and questionable strategic value 3). Health Care Industry problems in the US.

You've seen the documentary news show about "Doctors without Borders Annual Visits to the USA to treat the uninsured"?

http://www.youtube.com/watch?v=n_QoffvYQpw&feature=related With Bill Maher on HBO on his film "SICKO" and points out how his films haven't enjoyed support for change.

http://www.youtube.com/watch?v=6TR1SG8WDbU&feature=related With Wolfblitzer on CNN.

It is the Economy Stupid

US unemployment rate hit 6.1 percent, half a million US People lost their jobs in August, the total unemployed is 9.3 Million out of 154 Million workers (as per Bureau of Labor Statistics), and the C-CPI-U, Chained Consumer Price Index Urban, was 4.8 percent higher than in July 2007.

Not sure yet if it is true that oil companies don't pay any taxes at all as some political analyst are saying. If that is true, it seems hopeless to assume that corporations will act for the good of the country when it comes to job creation. And don't we need manufacturing jobs...? Preferably in alternative energy technologies like solar, wind, thermal, technology. In 1968 we were the worlds top car maker and car seller. Now what can we make in the US to replace automobiles.

Everyone is still asking these questions, right? And we know we can't be the worlds biggest seller and maker of weapons...it is unethical, right? How about designing the worlds best cities and buildings with the most technology like the bio-domes. We know the Chinese are already making nuclear power plants and hydroelectric power plants and building pipelines and oil refineries all around the globe.

http://www.bls.gov/news.release/empsit.nr0.htm
http://www.bls.gov/news.release/cpi.nr0.htm