NO EFFORT IS BEING GIVEN TO STOP THIS UNPRECEDENTED ATTACK ON FREE MARKETS FREE ENTERPRISE AND A FREE CAPITALISTIC COUNTRY THAT HAS BEEN THE MOST PROSPEROUS EVER!.....EVER I SAY!
NOT ONLY ARE NO REPUBLICANS TRYING TO STAND UP TO THIS NONSENSE AND BAILOUT MESS BUT NONE ARE WILLING TO STAVE OFF THE POSSIBLE DESTRUCTION OF OUR WAY OF LIFE AND ECONOMIC STABILITY OR WHATS LEFT OF IT!!!
STOP THE MADNESS! CONTACT YOUR CONGRESS PERSONS! THE SKY IS NOT FALLING....THE COUNTRY IS FALLING TO FEAR...SABOTAGE... AND A PLANNED DESTRUCTION OF OUR REPUBLIC AND A "CHANGE" TO SOCIALISM AND CENTRAL GOVERNMENT!
BEING OBLIVIOUS WILL NOT WORK...BEING AFRAID TO LOOK WILL NOT WORK...WHAT WILL WORK IS YOU WORKING TO PROVE THIS TO ANYONE AND EVERYONE AND START EMAILING WASHINGTON!
Here...Please read Dr. Black's opinion...
Happy New Year. I have some good news and some bad news. The good news is that the 110th Congress is gone. The bad news is that the 111th Congress will be worse.
More good news is that the Bush administration is gone with its $1 trillion in new spending before all the bailouts. The bad news is that the Obama administration will be worse because it will increase spending by even more and likely will raise taxes as well. Let's hope that Barack Obama does not change the Bush recession into the Obama depression.
I saw a headline that said "Carmakers' long-term fate in hands of next president." I beg to differ: the carmakers' long-term fate is in the hands of the American consumer. When President Bush decided - for whatever reason - to throw away $17.4 billion to Chrysler and GM, he said that the money gave them the opportunity to start to institute plans to restructure into viable companies.
Huh? What have they been doing while they have been hemorrhaging money and raking up losses? I admit that I am part of the problem. I have never owned an American car - unless you count the four Saabs of my youth. However, I have never owned a foreign truck. If Ford takes a penny of the government's money, I will seriously consider never buying another American truck.
I was struck by how many U.S. firms are now either relocating their headquarters out of the country or contemplating doing so. It is a sad day when companies have to flee the U.S. because of burdens from taxes and government regulations. I wish the auto execs had said that if Congress would not start to aggressively deregulate the auto industry, then they would be forced to relocate their headquarters and production overseas. There is a reason why the automakers make money everywhere but in the U.S.
But not to worry, another headline said "Obama increases jobs goal to 3 million." Of course any figure could be pulled from the air because any job creation by the government is illusory. The article said that plans were being made to winterize 1 million homes, invest in disease prevention and modernize schools. Well, I guess during these times we all need comic relief. Obama seems to be obsessed with infrastructure and job creation. I presume what we are going to do is to take the displaced Wall Street bankers and retrain them as welders. By the way, crumbling infrastructure is due to failed government policies. The capitalist market would never allow this to happen.
If Barack Obama wanted to create 3 million real jobs, he could do it today. All he would have to say is the following: "My fellow Americans, in order to create permanent jobs, I will eliminate both the capital gains tax and the corporate income tax. I will make permanent the Bush tax cuts and aggressively work to limit government spending to no more than 20 percent of GDP unless in the case of a national emergency. I will also seek to fully exploit all domestic energy sources. I believe that in adopting these policies, we can reignite American commerce, energize consumer confidence, restore the integrity of the dollar and guarantee that the American dream will be a reality for our children, our children's children and for all Americans for generations to come."
Harold Black is the James F. Smith Jr. Professor of Finance at the University of Tennessee. He can be reached at hblack@utk.edu.
More good news is that the Bush administration is gone with its $1 trillion in new spending before all the bailouts. The bad news is that the Obama administration will be worse because it will increase spending by even more and likely will raise taxes as well. Let's hope that Barack Obama does not change the Bush recession into the Obama depression.
I saw a headline that said "Carmakers' long-term fate in hands of next president." I beg to differ: the carmakers' long-term fate is in the hands of the American consumer. When President Bush decided - for whatever reason - to throw away $17.4 billion to Chrysler and GM, he said that the money gave them the opportunity to start to institute plans to restructure into viable companies.
Huh? What have they been doing while they have been hemorrhaging money and raking up losses? I admit that I am part of the problem. I have never owned an American car - unless you count the four Saabs of my youth. However, I have never owned a foreign truck. If Ford takes a penny of the government's money, I will seriously consider never buying another American truck.
I was struck by how many U.S. firms are now either relocating their headquarters out of the country or contemplating doing so. It is a sad day when companies have to flee the U.S. because of burdens from taxes and government regulations. I wish the auto execs had said that if Congress would not start to aggressively deregulate the auto industry, then they would be forced to relocate their headquarters and production overseas. There is a reason why the automakers make money everywhere but in the U.S.
But not to worry, another headline said "Obama increases jobs goal to 3 million." Of course any figure could be pulled from the air because any job creation by the government is illusory. The article said that plans were being made to winterize 1 million homes, invest in disease prevention and modernize schools. Well, I guess during these times we all need comic relief. Obama seems to be obsessed with infrastructure and job creation. I presume what we are going to do is to take the displaced Wall Street bankers and retrain them as welders. By the way, crumbling infrastructure is due to failed government policies. The capitalist market would never allow this to happen.
If Barack Obama wanted to create 3 million real jobs, he could do it today. All he would have to say is the following: "My fellow Americans, in order to create permanent jobs, I will eliminate both the capital gains tax and the corporate income tax. I will make permanent the Bush tax cuts and aggressively work to limit government spending to no more than 20 percent of GDP unless in the case of a national emergency. I will also seek to fully exploit all domestic energy sources. I believe that in adopting these policies, we can reignite American commerce, energize consumer confidence, restore the integrity of the dollar and guarantee that the American dream will be a reality for our children, our children's children and for all Americans for generations to come."
Harold Black is the James F. Smith Jr. Professor of Finance at the University of Tennessee. He can be reached at hblack@utk.edu.
from the Knox News 01.04.09
Quote ME!
All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse.
___Benjamin Franklin
___Benjamin Franklin
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