Wednesday, September 24, 2008

Dumb De Dumb Dumb Dumb!


Last week, this country suffered a financial catastrophe. It is being said that this is the worse of its kind since the Great Depression of the 1930's. All of a sudden, people don't want to hear about pigs with lipstick on them... "Obama Waffles".... moose shooting' mamas... sex in kindergarten... how many houses and cars somebody owns... and how great a certain candidate looks in a red, white, and blue bikini toting a shotgun... and all of the other silly distractions that were starting to come up. Scared? You should be. Now, you realize that it's serious don't you? So, how did we get in this mess? I'm glad you asked. Here's what happened?

In 1999, Republican Senator Phil Gramm sponsored a deregulation bill (that was signed into law by Democratic President Bill Clinton) that removed the traditional barriers between banks, brokerage firms, and insurance companies. What happened next was a surge in the trading of mortgage backed securities or complex financial deals that made a pile of money for the Wall Street folks. While they were lining their pockets, the price of your house was rising ten percent, twenty percent, thirty percent every year. Still with me? Check it out... as home prices begin to fall and mortgage foreclosures begin to rise, these heavily leveraged bets are collapsing all over the place and threatening the entire global balance of economy. You've been so involved with Britney Spears selection of (or no selection of) panties for the day that, all of that went right by you over the years but, you know who won American Idol last season, don't you?

Oh yeah, one other thing... Senator Phil Gramm had an advisor who helped him frame the deregulation bill. Do you know who it was? John McCain. Yup, he was the co-sponsor of that bill and now, he's telling you and I that he's going to clean up Washington and the way it does business. Give me a break! These Republicans talk about how they don't favor "big government" and how they want to get the "government off of your back" right? Now, they are using that same government to borrow money from other countries to bail out all of these financial institutions.

Do you see how complex this is to even explain? We can't afford to let these institutions go belly up because so much of the entire world's economy is tied up into this mess that, if they are not bailed out, it would cause an even worse economic disaster. So, when I hear people like "Henry" on the radio and realize how stupid he is, this is why it scares me that there are more like him who just don't understand and just don't want to understand how serious all of this really is now. Whoever you choose to vote for, it must be an informed vote, based on a clear and honest study of both candidates, their policies, and an intelligent look at what is in it for you the voter. We can't afford to be dumb...not in this election.

Tomorrow, I promise... I'll lighten up.

8 comments:

Rich said...

One of the best explanations thus far and you provided something I didn't know. Old John McCain backed it.

Thoughts of a Southern gal said...

I learned something new. Also look up the Keating Five. McCain was also involved in that.

Don said...

Yup, he was the co-sponsor of that bill and now, he's telling you and I that he's going to clean up Washington and the way it does business.

When McCain speaks of change within Government I listen and wonder if he really thinks he can insult one's intelligence. His party, Big Goverment, will never ever change the way it handles business. And if a person digs deep enough, they will find this to be a great truth.

I'm under the belief that November 4th, 2008 is the greatest election this country has ever experienced, one way or the other.

12kyle said...

keep droppin that science keith!

this is one of the reasons why mcshame is "trying to fix the current situation with the economy" by suspending his campaign. what a loser.

crys said...

ok keith - this makes a lot of sense. so i have a question - is it REALLY urgent? i mean i know this is a serious matter, but it seems like bush is trying to ram this down our throats right quick and by making us scared (i.e., iraq war)- so we won't even CONSIDER the fact that these words ARE included in this bailout they are trying to rush us into:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.


In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.

and they want us to do this RIGHT QUICK - man GET OUT OF HERE

Keith said...

@Rich- John backed it...He doesn't want to talk about it ,I'm sure.

@Southern Gal- Yeah, I knew about his close relationship with Keating...Nobody wants to talk about that either,but they want to go on and on about Obama and Reverend Wright,don't they?

@Crys- Unfortunately, it is such a mess that it IS very urgent, but we shouldn't let the government just write a blank check. There should be an impartial civilian committee with no political ties to either party formed to regulate this mess. Of course, that's not gonna happen.

@Don-Problem is...people don't want to know the truth..I don't think they really want to deal with the fact that they are getting
took.

@Kyle- That's what I do baby, drop
science 2 keep the public informed.
lolololol-Just kidding,I don't take myself that seriously.

Mizrepresent said...

That's okay Keith, do your thang. I love what you are bringing along with some of the other bloggers...pointint out the real picture. Thank you!

A Go Bytch said...

hey Keith..I'm so glad I finally got to you without stalling...

I heard about that...*humph* That's our sign..now what is America gonna do about it?

Go B.




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