posted
When America fired freedomBy Henry LambThere was a mechanic who was so successful he had to hire someone to answer the phone and schedule appointments. His business prospered and his accountant recommended that he incorporate his business, which he did. Then came hard times. The board of directors, eager to cut costs, fired the mechanic who built the business. The business died. America may have done the same thing. Freedom individual freedom built this great nation. America prospered as no other nation in history had, because individuals were free to invest their time, energy and creativity into any venture they chose. Individuals were free to accumulate property and wealth without government oversight or limitation. Individuals were free to pursue happiness any way they chose, and those who chose to infringe upon another's freedom were subject to pay damages as determined by a jury of their peers. America has fired freedom the mechanic who built the prosperity in the first place. For nearly 200 years, America flourished. Freedom moved civilization from horse-and-buggy to rocket ships to the moon. Of course, free individuals made mistakes. Injustices occurred. People were hurt, and pollution poured from smokestacks where millions of laborers earned their wages. When people are free, these mistakes tend to be self-correcting. When management abused workers, free people created labor unions to balance the power. When landlords abused tenants, bankers offered mortgages so tenants could become homeowners. (Column continues below)A free society allows ideas and creativity to solve problems and make opportunities. But America has fired freedom. Now the board of directors the government is trying to solve problems and create opportunities by forcing individuals to perform as government dictates. The concept behind the "School to Work" initiative of the '90s was to guide individuals into the labor markets government defined. The concept behind "No Child Left Behind" is to transform the attitudes, values and, ultimately, the behavior of individuals to what the government defines as desirable. That granite cornerstone of individual freedom private property has been jack-hammered into pebbles by a government hell-bent on controlling virtually every aspect of human life. Government decides how much money may be retained by the individual who earns it. Government decides how land may be used by the individual who owns it. Government now has the power to decide what crops may be grown, and is trying to gain the power to decide which and how many animals an individual may have. Government decides the minimum wage a job-giver must pay. Government decides whom employers may and may not hire and fire through laws that seek to "equalize opportunity." Tragically, most Americans see nothing wrong in this government power. They never knew the original mechanic freedom who provided the prosperity they now enjoy. The opposite of a free society is a managed society. The "land of the free" is roaring toward a government-managed society. For more than a generation, America has accepted the proposition that the "collective good" is more important than individual freedom. The fallacy in this belief is the fact that government decides what is the "collective good." In a free society, the result of individuals pursuing their own prosperity results in a "collective good" that far outstrips anything any government can dare to dream. Evidence: the first 200 years of freedom in the United States, compared with 2,000 years of societies managed by some form of ultimate government power. In a free society, individuals compete to produce the best product or service. In a managed society, competition is bad; equity is the goal. Schools have been encouraged not to allow children to keep score in playground ball games. They contend that losing causes emotional damage, and winning creates the idea of superiority. In a free society, competition keeps prices as low as possible and promotes innovation. In a government-managed society, prices are set, directly or indirectly, by government. Innovation follows government grants which must first be taken from the individuals who earn the money. In a free society, businesses go bankrupt when they do not provide goods or services for which people are willing to pay. In a government-managed society, businesses that find favor with the ruling party stay in business; those who fall from favor with the ruling party are closed. In a free society, farmers may raise animals they choose to raise; in a government-managed society, such as England, farmers who fail to register their animals with the government are subject to lose their animals to government slaughter without compensation. Who in America can champion Vladimir Putin's iron-fisted control over the press? Who in America can champion Myanmar's, China's or Pakistan's absolute refusal to allow political opposition? Who in America can see the slow slide toward this very form of intolerant government by those who seek laws to silence Rush Limbaugh and other outspoken critics? The society that trades its individual freedom for management by the government is indeed like the corporation that fires its founder and chief producer. Without freedom, America cannot prosper and may not survive.
Posts: 2965 | Registered: Aug 2005
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posted
Now where's bdgee to tell us it's all Bush's fault and its horrible, but not so bad that Hillary can't fix it all.
Posts: 2965 | Registered: Aug 2005
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posted
Citi bank is doing horrible which pleases me to no end. Saudis are trying to build a portfolio outside of oil. Not sure I would have chosen Citibank, but oh well.
Posts: 2965 | Registered: Aug 2005
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posted
Not sure about shorting them, I'll have to have a gander at the chart when I get back to the puter. As for forex, short the buck seems pretty stable advice. I can see this move as an attempt by the Saudis to convert declining cash reserves into equity without converting to another currency.
Posts: 2965 | Registered: Aug 2005
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posted
citibank is paying 11% on that money, i'd say they are up against the ropes...
the figures i'm hearing are (total, not just at citi)300 to 350 billion in mortgage losses...
citibank may need another one of these before the problems are all worked out...
so far only about 50 billion in lossess are on teh books...
check thi sout, i just recently found it:
Saudi prince is first private buyer of A380 superjumbo Submitted by Tarique on Mon, 11/12/2007 - 18:47.
* Muslim World News * Economy
By IANS
Dubai : Saudi Prince Al-Walid bin Talal bin Abdul Aziz Al Saud has become the first private buyer of the Airbus A380, the world's largest passenger jetliner.
The prince flew down to the 10th Dubai Airshow here Monday in his private Boeing 747 and agreed to buy the double-decker superjumbo, the list price of which is $319 million. It is not known how much the prince is paying. The prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties.
With an initial investment of $550 million to bail out Citibank, caused by under-performing American real estate loans and Latin American businesses, his holdings in Citigroup now comprise half of his wealth worth $10 billion.
quote:Originally posted by glassman: citibank is paying 11% on that money, i'd say they are up against the ropes...
the figure i'm hearing are (total)300 to 350 billion in mortgage losses...
citibank may need another one of these before the problems are all worked out...
check thi sout, i just recently found it:
Saudi prince is first private buyer of A380 superjumbo Submitted by Tarique on Mon, 11/12/2007 - 18:47.
* Muslim World News * Economy
By IANS
Dubai : Saudi Prince Al-Walid bin Talal bin Abdul Aziz Al Saud has become the first private buyer of the Airbus A380, the world's largest passenger jetliner.
The prince flew down to the 10th Dubai Airshow here Monday in his private Boeing 747 and agreed to buy the double-decker superjumbo, the list price of which is $319 million. It is not known how much the prince is paying. The prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties.
With an initial investment of $550 million to bail out Citibank, caused by under-performing American real estate loans and Latin American businesses, his holdings in Citigroup now comprise half of his wealth worth $10 billion.
posted
washington mutual,(symbol WM), the PPS is so low that their dividend rate is 11+% as of friday's close.. the debate is whether they will be able to keep paying the same dividend they have been paying,,
the Abu Dahbi/Citibank deal guarantees the Abu Dabi's 11% on their money...
that is why IMO, that Citibank had to pretty much agree to pay so much...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
WM is likely to cut the divvy on the common. the yeild is not forward looking, but who knows? a bailout would make that an 11% available for me and you...
Citibanks deal is prefered and has a required convertible, Abu Dahbi ends up with almost a 5% stake in Cit...
BOA got 7.5% interest on a similar deal with Countrywide...
the bailout is not for us middle class chumps. these guys are buying guaranteed solid interest rates adn then pushing the politicians into converting the "free market" into a socialist money cow.. ( whadya think of that Property Manager? )
i don't like the bailout at all, it just extends the crisis and rewards bad behaviour...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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Mortgage Insurers Higher on Possible Mortgage Bailout Plan 11-30-2007 10:56:54 AM
Private mortgage insurers are higher today on news the White House will get involved to help stop the potential wave of subprime defaults. The WSJ reported today, the Treasury department is working with large financial institutions to come up with a plan that will freeze resets on certain subprime loans. In addition, Fed Chairman Bernanke indicated in a speech last night that more rate cuts are on the table.
so because i'm truly conservative and buy within my means and actually put money away every month? i get to watch a bunch of people abuse the system and get rewarded?
anybody who thinks Bush isn't a liberal really needs to look up the definitions of liberal and conservative.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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quote:i don't like the bailout at all, it just extends the crisis and rewards bad behaviour...
OK... man up! -- but
what about the talks with sub-prime lenders, aiming for extension of "teaser rates" ?
That would be GREAT for peeps like me who got more or less forced into ARMs. I need only 12-18 months to qualify for better rates. As it stands, I take a hickey...and so does the lender, if they treat the market "all the same."
posted
OH, i guess i shoulda took out an arm too...
wtf? i want to buy one of these ante-bellum mansions on the repo market next year
seriously? economics is all relative. the dollar is gonna keep dropping, and i'm working on art to sell overseas, cuz my neighbors sure can't afford it...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
if you got an ARM and they didn't 'splain it to you? then you have a case. i understand that's been rampant, and it's illegal. the mansion isn't for me, it's for the gallery, i'm happy with a studio thats bigger than my house, and i walk 60 feet to go to work.
having work space on my own place means i have to put up with neighbors that are "difficult" tho...
the problem i have is with people that were lying on their credit aps... and people that have appetites bigger then their wallets...
i know alotta loan officers were looking the other way and in alotof fcases telling people what figures to put in, and they should lose their commisions for doing that.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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quote:Originally posted by glassman: if you got an ARM and they didn't 'splain it to you? then you have a case. i understand that's been rampant, and it's illegal. the mansion isn't for me, it's for the gallery, i'm happy with a studio thats bigger than my house, and i walk 60 feet to go to work.
having work space on my own place means i have to put up with neighbors that are "difficult" tho...
the problem i have is with people that were lying on their credit aps... and people that have appetites bigger then their wallets...
i know alotta loan officers were looking the other way and in alotof fcases telling people what figures to put in, and they should lose their commisions for doing that.
yup...appetite's a problem
But as you mention? plugging in figures just leads to more hustling...imho
posted
I was listening to the news last night or the night before and heard basically what Glass had posted. I thought to myself WTF???? Why should my tax money, the money that I worked for and had to give away, be used to bail out anyone that lived above their means. I scrimp, save, and work to get ahead, why should I bail out a person that bought a million dollar house when they made 40 grand a year. Let the person that did that and the bank that was stupid enough to lend them the money, work it out. Its not my responsibility to pay for their mistakes. Both signers of the contract need to fix it or both can fail. Does that affect me, sure it does in the long run but I will deal with that when it happens. Just my 2 cents. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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posted
"so because i'm truly conservative and buy within my means and actually put money away every month? i get to watch a bunch of people abuse the system and get rewarded?"
That's right, in the People's Republic of America, we have become a nation of VICTIMS. Anyone that fails is a victim and deserving of the government saving their butt. It's absolutely ridiculous and a certain sign that our country is failing fast.
It won't be long until all this nonsense bankrupts the nation. We are very close now and that is why the rest of the world is beginning to talk of dumping their dollars and change the reserve currency to something other than the dollar. It's also why the dollar is on a longterm downhill slide.
It is certainly impossible for an ever shrinking number of productive citizens to cover all the handouts and bailouts for millions of deadbeats, whiners, and victims.
posted
The system isn't for you to define and declare that everyone not copycatting your preferences to be "abusing the system".
The word "capitalism" appears nowhere in the Constitution and there is no requirement in the constitution that the United States of America subscribe to (or deny) any specific form of economy. There is a provision that the Government "protect the General welfare" and you are not designated as the judge of what welfare is or isn't.
It isn't a reward to be living in the United States and be allowed to reap the benifits ensueing from the Constitution, even if you aren't a far far right-wing republican Party line conservative. It is a right.
What is bankrupting the Nation not welfaare. It is basically two things.
1)An irresponsible taxing policy that takes from those that sometimes aren't getting by while helping you to transfer portions of the money those poor people put in the Nations' treasury and wealth to offshore accounts and non-taxed investments, where it never gets taxed again and ceases to be a part of this nations economies.
2) An invasion (of a sovereign nation, innocent of the evils claimed by your Party) to start a war that pleases no one but oil interest, terrorist, and the far right-wing evangelical religious bigots still fighting the Crusades (dedicated to overcoming those evil Muslems that pray too often to a non-god). Your war is our biggest economic problem am may alone bring down the U.S., as its cost is overwhelming the strongest economy the world has ever known and is funded by loans from arch enemies of our Nation and our Nation's economy and those loans are to be repaid by the poor rather than the right-wingers that wanted and still insisting we continue this faithless war and still refuses to allow us to get out of Iraq.
You, sir, and trying to live the way your want, with goals you crave, in place of those of the Constitution, are the greatest expense this nation faces.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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posted
It is certainly impossible for an ever shrinking number of productive citizens to cover all the handouts and bailouts for millions of deadbeats, whiners, and victims.
LOL.. post some figures and back up the rhetoric.
my view is that everybody is working harder than ever and getting further behind.
and all i have to do to prove that is to show corporate profits. you do understand that profit comes from the consumer right?
and especially in the last 25 years profit is a direct function of the amount you pay for the services your employees provide to you the employers?
am i a socialist to expect reasonable profit for an extended period of time instead of "squeezing every last drop of profit" out of every person every day? and then firing them when you find out you can outsource to India for half the cost?
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
"am i a socialist to expect reasonable profit for an extended period of time instead of "squeezing every last drop of profit" out of every person every day? and then firing them when you find out you can outsource to India for half the cost?"
The pupose of a business is to make money - period. The purpose of business is NOT to create jobs or to fund the lifestyles of the lazy; the whiners; and the deadbeats. In the current global economy, many companies must compete internationally. If employees can do the same job cheaper or more effectively in another country, then it is right to hire their employees there.
If the United States wants to continue to be a significant world power, then it should cut a lot of the ridiculous regulations that increase the cost of production and cut corporate taxes. Making the United States more competitive is the path to success. Turning corporations into the enemy only reduces the incentive for anyone to have a corporation or employees in the United States.
posted
To you, no doubt, "The pupose of a business is to make money - period." But that is not its function as a part of the U.S.
Think! Your business only exists out of recognition by the Government, not the other way around.
Business serves to make the nation's fortunes better...PERIOD. Profit is not the measure of the fortunes of a nation (except in fascism). Otherwise, why would any nation put up with any business? You are allowed a profit by the Government.....you do not allow it.
Your love of the "global economy" and "free trade" is NOT an expression of any love at all for the Country. You exhibit a complete blank on the functions of our Government, which is stated quite throughly in its preamble:
"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
Notice please, there simply is no part of it that states anyone has any right to make a profit and certainly it states nothing to the effect that you have any right to any money at all, be it from profit or not. What you keep claiming as your right simply does not have any Constitutional founding.
It does, however, declare that "(promoting) the general Welfare, and "(securing) the Blessings of Liberty to ourselves and our Posterity" are primary goals for this Nation [i]and it states that these goals are both non-ending and intended for all of us, without restricting them to or from any class of individuals and without specifying that any particular individuals or group thereof should be particularly served, even first.
Yet, you want to make a quite large portion of our population be left without "general welfare" and disallowed from "the Blessings of Liberty".
I point out that nothing in the Constitution demands or even suggest that it be a goal of the U.S. to be "a significant world power". Moreover, you need to pay some attention to the fact that action through the policies of the Party you want to control us (and with your leanings to special favors to the wealthy at the expense of the rest of us), the U. S. is falling further and further behind in its ability to compete in the world.
Corporations made themselves the enemy, not the people of the United States.
Get on board with the Constitution and forsake your anti-American adoration of profit before Country, if you want to be liked in our Nation.
General Bullmouse be damned!
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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If the United States wants to continue to be a significant world power, then it should cut a lot of the ridiculous regulations that increase the cost of production and cut corporate taxes. Making the United States more competitive is the path to success. Turning corporations into the enemy only reduces the incentive for anyone to have a corporation or employees in the United States. _________________________________________________
Many regulations are not rediculous and have saved many lives and injuries. There are some regulations that are ridiculous but those will not make a significant differance in allowing us to compete.
All we have to do is look at the reasons we cannot compete and ask ourselves if we want to change the major regulations that stop us from competing in many fields?
I know i do not want to see the major regulations dropped even though i hate to see us losing many industries because of it. We have so many people out of work and others struggling to make ends meet. I sure hope there is some relief coming in the next few years but deregulation is not the answer.
Posts: 3875 | From: ca. | Registered: Jul 2005
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Let's cut to the chase. Do you believe that healthy Americans should be able to choose to not work and that it is the government's (me and the other taxpayers) responsiblitiy to feed them, clothe them, and provide healthcare for them?
I think that they have the right not to work if they choose, and that the government should not be obligated to take care of them.
quote:Originally posted by Propertymanager: bdgee,
Let's cut to the chase. Do you believe that healthy Americans should be able to choose to not work and that it is the government's (me and the other taxpayers) responsiblitiy to feed them, clothe them, and provide healthcare for them?
I think that they have the right not to work if they choose, and that the government should not be obligated to take care of them.
Mike
LOL.. you don't like the simple truth do you?
making money isn't really the point of living dude.
if you wanna call me a socialist for saying that you are welcome to, but i know alot of very wealthy BRATS that never worked aday in their lives, and they laugh at people who have to work..
one of 'em even became president
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
if you are taking section 8 money and you wanna complain about deadbeats? first i suggest you give back all your section 8 money and then you evict all the deadbeats.. next step? take out a loan and renovate all your slums and rent to people making 100 grand a year.. oh yeah? they don't rent do they? LOL.. looks like you are in the wrong biz to me...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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quote:Originally posted by Propertymanager: bdgee,
Let's cut to the chase. Do you believe that healthy Americans should be able to choose to not work and that it is the government's (me and the other taxpayers) responsiblitiy to feed them, clothe them, and provide healthcare for them?
I think that they have the right not to work if they choose, and that the government should not be obligated to take care of them.
Mike
I see your problem. You are blinded by the notion that you pay taxes and those people you like to call deadbeats and socialist don't.
It's a lie. Those people pay most of our taxes. You probably also are among those that think income taax is the major source of funding that the federal government gets. No, it's payroll taxes, which the very rich almost pay none of.
Let me ignore the fact that money made via investment and such (the kind those poor folks don't get) escape payroll taxes all together. I'll falsly assume everyone is employed and that employment is their only source of income, just like almost 100% of those you so viciously hate and want to blame every evil on.
Payroll taxes have a maximum amount that can be taken from ones pay each year and after that, the employee pays none. Thus, after a certain point, those making a greater amount, pay no payrol taxes, which has the effect that the higher ones pay, they less the percentage of their income that goes to payroll taxes is. That means the lowest income levels pay the largest percentage payroll tax and, since that is the single largest portion of our "nations income", those poor people pay the most and you are the deadbeat that isn't shouldering your load.
You need to learn a few things, only one of which is that you need to start taking responsibility for your own failings rather than blaming the poor folks that are funding your ride on the gravy train, boy.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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