Bigthink - Idea Comments Feed

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Fri, 18 Apr 2008 16:25:57 +0100

Mr. Krugman
I believe that the current crisis is fundamentally no different from the great depression. I was taught that in the 1920's , people would borrow money to invest in the market. Maybe they would go to the bank or maybe they would buy "on margin" It was speculative borrowing none the less. As greed took over people would borrow on their borrowed "assets" in order to buy more (get richer). When the margins were called, everything fell apart. At thge same time, Europe (France and England) were continuing to attempt to stomp Germany into the ground with what might be considered one of the greatest acts of economic terrorism ever perpetrated on a Nation. And the brand new Soviet Union was starving millions of it's own citizens.
Germany was starting to blame the Jews because they were 1500 year old target of opportunity. Germany knew it couldn't attack France or England (yet)
Today we have people who have borrowed over 100% of their equity in order to live the affluent life. These people have no hope of ever repaying the hundreds of thousands of dollars they borrowed. The institutions also knew this. At least I hope that a reas0onable loan officer would realize that a 50 year old couple have virtually no hope of discharging a $250,000 loan before they die. But the institutions continued to lend against equity that was in reality a loan itself. Back in the 20's we didn't have "big government". Today , thanks to the bush administration, we have the biggest government ever. So we can't blame the size of the government and the conservatives are full of hooey. The United States has decided to be afraid of something that could have been wiped off of the face of the earth in about one year. And the government keeps it alive so we the people will be afraid, just as Germans were afraid of Jews and Russians were afraid of Germans and capitalists. To paraphrase Donald Rumsfeld, Sometimes you are lucky enough to go to war against the enemy you can invent.
Vilfredo Pareto found that 20 percent of the population control 80 percent of the economy. In other words, the rich control the money. I believe this because of what I see happening today.
Large companies are quietly renigging on their retirement package promises, keeping the money or wirting it off after sending it after bad financial decisions
Financial institutions buy into get rich quick schemes while the government looks away.
The citizenry is continuing to amass debt that cannot possibly be paid off.
There is no pay as you go, pay cash, or even pay it off mentality in the country.
This mentality has a sinister side because of a deliberate policy of the current administration to place this country so far into debt that a future administration will have no choice but to dismantle social security and medicare.
Thus the current administration not only allows, supports and condones private companies renigging on retirement packages, they also are activly and purposfully renigging on the promise of the government retirement packages.
THE ECONOMICS OF THE 1920's AND THE 2000's ARE SIMILAR IN THAT THEY ARE BOTH BASED ON A GIANT GOVERNMENT SANCTIONED PONZI SCHEME
What is needed?
A NATIONAL effort to change the national economic philosophy to:
Pay as you go
Debt is temporary and meant to be entered into AND DISCHARGED responsibly
and a tax system that extoles pride and patriotism in paying ones fair share, for sure.
My experience is that no-one who wears an American Flag lapel pin is patriotic enough to pay their fair share.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Thu, 28 Feb 2008 02:47:34 +0100

AN S.O.S. TO AMERICA, GET TO A LIFEBOAT

By Greg Evensen

February 27, 2008

SOURCE: http://www.newswithviews.com/Evensen/greg25.htm

I have waited an extra week to see if the following letter would generate any response from those in authority over us. I have been grievously disappointed, but not at all surprised. To the hundreds of you who so graciously and forcefully responded, all I can offer you is deep gratitude for your efforts. We collectively made our last best try.

No one can say we did not do our best. The result was predictable but necessary, at least in my view, because what follows in the next few weeks and months will be so difficult for this nation as to be nearly indescribable. I pray to God Almighty that I am wrong about this, but I fear not. The United States of America is collapsing from within at an accelerating rate, at every level, and from every corner of a decayed foundation in Washington, D.C. The rest of the house--no matter how sturdily built--will fall as well. NO ONE will escape.

This letter is the result of your messages and is the communication that was forwarded to every member of Congress, the President, and as many state county board associations as we could locate. I sent one to the UN Secretary-General, the Federal Reserve Chairman and the Justice Department. It has taken almost three weeks and it may well have been for absolutely nothing, but I believe it was a necessary component to justify whatever comes. Here is what I sent out.

February 2008

To: The President of the United States
The Congress of the United States
The Justice Department of the United States
The United Nations Secretary-General
The Chairman of the United States Federal Reserve System
The 50 State%u2019s County Board Chairmen

Greetings:

On behalf of American citizens invited to submit their concerns and suggestions to all of you, and the several hundred that responded, I ask only that you contemplate once again, the serious nature of our present national dilemma and regard these ideas with all of the serious responsibility that they require. This is America, advising you our representatives, or to the other named parties exerting heavy influence over the affairs of this nation. Please consider carefully your response to these matters and the ultimate effect your action or inaction will have on the future of the American people.

These statements are given in no particular order or preference. They represent the deepest, most heartfelt positions held by our fellow citizens.

* Hold all sworn representatives or officials to their oath of office.
* Secure all of the borders from all illegal entries.
* Return to a Constitutional Republic form of government.
* Eliminate all forms of emergency government now in place.
* Eliminate maritime or other non-constitutional law and its current use.
* Control the runaway %u201Chealth industry%u201D and the corrupt deception of pharmaceuticals. Eliminate the FDA, allow testing by the CDC.
* Withdraw permanently from the United Nations. Require the UN to leave US soil immediately. Reject any form of world governance.
* Reaffirm the original constitution as the supreme law of the land.
* Reaffirm the Bill of Rights as unassailable, untouchable natural law. The second amendment allows for unrestricted possession and carry of weapons at any time in any place by anyone (citizens restricted to 18%u2014voting and military induction age) not adjudicated as mentally/emotionally unbalanced or felons convicted of a crime of violence.
* Absolutely close our borders with any force necessary to do so.
* Repeal NAFTA, WTO, or other trade related agreements harmful to US industry and reject any North American Union efforts.
* Eliminate the Federal Reserve System immediately, revoke its charter.
* Eliminate the Internal Revenue System. Tax according to the Constitution%u2019s allowable requirements. Stop the illegal forced collection of taxes from the American worker.
* Eliminate US participation or support of the World Bank and International Monetary Fund.
* Bring home US troops from around the world, place them on borders.
* Drill for and use our own oil in America, off-shore and in Alaska.
* Declare all lobbying at any governmental level by private industry as illegal, a felony.
* Require recognition of the unconstitutionality and illegality of the 14th 16th and 17th amendments. Full repeal of all legislation since 1913.
* Enact a 3x amount import tax on all products formerly created within the US.
* Create an %u201Centry test%u201D for newly elected politicians to prove they can pass a constitutional exam with a 95% or better score.
* %u2022 Plan A%u2014Eliminate and prohibit all executive orders. Plan B----Require Congressional consent or rejection for all executive orders issued within 10 days of a President%u2019s signature.
* Complete disqualification for an office holder if he/she is a past or present member of any lobbying group, international banking or commerce entity or groups calling for the surrender of US sovereignty such as the Council on Foreign Relations, the US State Dept., etc.
* Create a tariff system that works and that would require all products originating out of country to pass safety measures and pricing standards protective of this nation%u2019s manufacturers and this nation%u2019s workers.
* Convene grand juries in all 50 states to oversee the legality and constitutionality of any/all legislation passed since 1913.
* Declare that corporations are no longer %u201Cpersons,%u201D have only granted privileges and do only what their charters permit. If they fail their charter obligations they may be permanently revoked within 30 days.
* All public contracts paid for with %u201Ctax%u201D money are competitive bid only. No exceptions
* Create Neighborhood Watch Militias in communities wanting them.
* Articles of Impeachment filed for every politician or judge found in violation of his sacred oath of office or violation of jury protections.
* Find, prosecute, deport and criminalize every illegal in America. Don%u2019t say it can%u2019t be done. The government can find anyone, anytime. They ignore illegals. Armed forces border security.
* No monopolies of any kind, break up monster corporations.
* Allow a set time for immunity and require all judges, politicians, military leaders and attorneys to confess treason and be barred from office. If they refuse, indict and imprison for life if found guilty.
* All gun control laws are null and void. Gun-makers immune from frivolous suits.
* Immediate cessation of all work on the North American Union corridor. All secret N. A. Union agreements void.
* Eliminate the Homeland Security Act.
* Eliminate the Patriot Act.
* Eliminate all federal agencies not specifically authorized in the Constitution.
* Eliminate all law enforcement agencies not authorized in the Constitution. Let the states cover security and legal matters.
* Forbid local law enforcement duties to any federal agencies or the US military under ALL circumstances. Let the states handle the issues.
* Require all judges at all levels to inform juries of their constitutional rights and duties. One time failure is grounds for removal from office.
* Reduce the size and budget of the federal government by 80% without exception. States should adhere to the same standard.
* Return the federal government to its constitutionally allowed mandates, authority and limited scope.
* Eliminate the %u201Ccorporate%u201D status of the United States.
* Return complete autonomy and sovereignty to each of the 50 states.
* Eliminate %u201CUS citizenship%u201D as created by the 14th amendment.
* Return all citizens to sovereign state flesh and blood human beings.
* Reject any and all attempts to inflict GPS and informational bio-chips on all citizens. Criminalize anyone who attempts to require their use.
* Require and allow the free exercise of public acknowledgements of God anywhere, anytime and in all things public and private.
* Eliminate all influences, requirements or taxing authority of any international bodies upon American citizens. Criminalize all agencies or individuals who %u201Cauthorize%u201D foreign troops or international laws from being forced upon citizens of this nation at any level by any agency.
* Eliminate all secret intelligence gathering agencies and the Pentagon. Turn all such duties over to a select panel of generals and civilians answerable directly to the American people for accountability and actions taken.
* Term limits at all levels of government. One six year term for President, two four year terms for Congressmen, two five year terms for senators, the same for state representatives and governors, and five year reviewable terms for Supreme Court judges. Eliminate federal courts at all levels except for Appeals. Same for the states.
* Eliminate the national debt by decree. Return to constitutional coinage and value. All banks to be local. No fractional banking, that practice is a felony--lifetime in prison. No credit cards of any kind.

This represents the top 50 recommendations, frankly demands, by the segment of the population taking the time to submit them. Although they are distilled from hundreds of statements, many of them repeated in one form or another by scores of people with the same concerns, they are very serious and should be taken as such.

Unfortunately for the American people, this election cycle is frightening in its potential. Those anointed to run by their respective parties represent a minority of Americans who have a subversive and destructive agenda waiting to be forced upon us by every manner of unconstitutional authority. That is why this has been sent to you. The American people, that is, those who know the deep, sacrificial history of this nation and its Godly roots, will not long endure any more suffering at the hands of authorities who have given over to the lusts of absolute corrupted power. They have spoken. I encourage you with all due respect to listen to what they have to say. To do otherwise, is to invoke and justify the American nation to challenge your authority and act upon the provisions found in the original Declaration of Independence dealing with such institutional tyranny.

True freedom, the desire for absolute liberty and unwavering support of this nation%u2014as it was instituted--requires that this letter be sent. I beg you to re-examine your positions in regard to this petition, seek change and remedy for it, and join with us in a brilliant renewal of our nation. On behalf of true American Patriots, I serve as their messenger and remain,

Most sincerely,

Gregory L. Evensen

There it is. We have done our best. Thank you so much for allowing me to send your deepest concerns to our governmental representatives. Pray that they will accept this with an open mind and heart. We could have done no less. We will give them time to respond. We will continue to prepare as the situation demands. You should use all of your resources and abilities to look ahead, clearly and with a strong heart. We will continue knowing that God is in control. Live your life true to your beliefs and fearing nothing that will come your way. S.O.S. stands for %u201CSave Our Souls.%u201D It is the message of a doomed vessel. It is followed by orders to retreat to lifeboats. The final call is to abandon ship. The S.O.S. has been given, fellow patriots, this letter is our lifeboat call. I will not abandon our ship just yet. There is one final call. We will muster to its bugle as the door of reason closes by the heavy hand of tyranny. May this be our rallying cry of resistance to that evil day. Freedom, America, now and forevermore.......

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Sat, 26 Jan 2008 13:35:09 +0100

We'll have a mild economic crisis, but the EU economic crisis will be devastating.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Tue, 22 Jan 2008 07:10:17 +0100

i am in bankruptcy ch. 7
i blame most of it on a corrupt market.
i bought 2 stocks that made me a substantial amount of money but when i wanted to sell i was told (wellstrade broker) i couldnt sell them because i do not own them.
i paid cash too.
154k was my loss yet everyone but me could trade. makes no sense at all to me.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Sat, 19 Jan 2008 04:43:11 +0100

Mr. Krugman begins by saying a large economic crisis generally "comes from a direction you did'nt anticipate at all". However, he then goes on to say he doesn't see a really severe economic crisis coming. Obviously if his first statement holds true niether him nor will most people see a large economic crisis coming until it is upon us.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Thu, 17 Jan 2008 05:05:09 +0100

Looming, yes. Avoidable, yes. How? Stop creating another (insert category) to soak up the last (insert category) that failed to soak up the unemployed. Creating another market does create a wave of stimulation, we are riding out the housing one now. DON'T CREATE ANOTHER MESS TO CLEAN. Steadying the economy is possibly the hardest thing to do. A suggestion would be to cut the high corporate tax rate we have in the U.S, maybe broker a deal with companies to make sure they hire a % of workers because of this. I could imagine that with lower overheard companies could hire more people, give larger wages to live off from, and not have the need to outsource jobs. Then the money in time from the working masses would insert it back into the economy. The only idea so far that has been able to push the economy up the next hill is the one I stated I don't want to happen! Maybe this time we will not have enough gas to go over this hill? *Yes pun was intended*

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Mon, 14 Jan 2008 23:50:25 +0100

It seems to me that things will get worse. I think the sub prime mess is just the beginning. I don%u2019t think anyone appreciates how many Americans live paycheck to paycheck. The 2007 foreclosure and bankruptcy rate was very high and that was when the employment picture was supposedly strong. I read a headline today that a company was about to lay off 20,000 people. The retail sector is very weak and is likely to start lay offs after the dismal Christmas season. The housing sector is bad, realtors and construction workers are out of work not to mention all those people making their living flipping houses. What sector of the economy is strong right now and creating enough jobs to soak up all the unemployed? Some people will find new jobs, some will float along on credit cards or cash in their retirement funds or get help from their families, but some are going to drown in their debts. I keep hearing that the consumer is going to keep spending us out of trouble but this sounds more like a hopeful mantra than a thoughtful analysis. With credit drying up and jobs disappearing the American consumer is going to hit a wall.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Fri, 11 Jan 2008 22:54:57 +0100

This is planned creative destruction. I believe you understand that. Do you want to do a story on a guy that has the solution for global warming and is trying to contact Richard Brandson about his 25 million dollar reward? HERE I AM.

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Thu, 10 Jan 2008 23:57:54 +0100

I tried two times to leave a comment and both of the comments were swallowed in cyberspace

Comment on: Re: Is there a bigger economic crisis looming?

Bigthink — Wed, 09 Jan 2008 19:16:31 +0100

There is absolutely a bigger crisis looming. I am sitting in a technical position in Texas and watching people losing their jobs. My job is being outsourced to Brazil. I may not have a job in 1 month from now. There is a mess in the housing market.