Politicians, Wall Street execs, Media talking heads… …Would please someone tell all these people with Learning Deficit Disorder to stop using the name of America and the name of the American people to excuse and rationalize what they do for whatever reasons they do it for? We are sick of all of them, A-L-L O-F T-H-E-M, S-I-C-K. THE PROBLEM: In a country where one of the steady growing Industries is the Alcohol and Drug Rehabilitation Industry (read: Addicted Nation), Why do we have to enable the Wall Street gamblers with cash, $700 billion of it really a $1 trillion, you have to admit that is legalized but still gambling. Listen and view the video with John Bogle below, his opinion on the difference between Speculating and Investing. My parents invested in PG&E stock back in the 70’s and my mother still depends on the dividends of that stock, they stayed the curse with that stock, my parent’s broker did not need to use shorts nor longs with their account. Also my parents bought a house that they could afford and had the down payment in cash. On Monday the Dow plunged -777.x points at close today Tuesday the Dow rally ed +485.x points, because of speculation and that my friend is the reality of Wall Street, Speculation. Fundamentally nothing had changed and no company listed in any of the exchanges, DJI, S&P, NASDAQ, DAX, NIKKEI, none of them listed companies whose products had ceased, failed or changed in any way; it was all about the betting chances of making or losing money. They do not care if The American people suffer or not. Their only oratory sentence to atone for their attitude is that “They do care and protect the American Investor”. How can you know if this assertion is correct? You know that regardeless of profits or losses Execs decide to lay off american workers, blue and white collar alike, to “Protect the Share holders”. As the American corporations layoff workers their executive and board of directors get increased paychecks and benefits. Bogle Says Lawmakers `Obliged’ to Approve Rescue Plan September 30 (Bloomberg) John Bogle, founder of Vanguard Group Inc., perhaps he flip-floped his own argument at the end, at first he was critical of Wall Street then he pleaded for the goverment’s handout saying that lawmakers are “Obliged”, to what? Reward them? http://www.bloomberg.com/avp/avp.h Bogle The most sane conversation came from people that I have disagreed with in the past, as what I heard in ABC’s News “This Week ” with G. Stephenapolous. Not matter how much the panelists disagreed they shared a common observation and that was almost unspoken that the American public has been childish in their spending Habits and beliefs about handling money. This Week the bailout abcnews.go.com Videos week 39. THE SAVIOR: Henry Merritt “Hank” Paulson Jr. (born March 28, 1946) is the United States Treasury Secretary and member of the International Monetary Fund Board of Governors. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs. He joined Goldman Sachs in 1974. The scope of the problem is global. Goldman Sachs is a Global company and obviously so is the IMF, so why is anuone surprised that Mr. Paulson demsned almost 1 trillion dollars to be used at his private discretion. An interesting bit abouit his ties to China: He wrote an article about what the US must do to please China in the magazine Foreign Affairs While at Annapolis he said about China: in seeking to smooth the way for the discussions, Paulson said that while China faced many economic difficulties, so did the United States. One reason that China does not import more American goods, he said, was that its savings rate was so high. In the United States, he said the savings rate was too low.
MARTIN CRUTSINGER (AP Economics Writer) writes: Treasury Secretary Henry Paulson said Tuesday the next round of high-level talks with China will focus on energy and environmental issues, and efforts to agree on an investment treaty.
Why would a Secretary of Treasury needs to have diplomatic conferences with foreign powers about energy matters?
Do tou reallize what could you become with a trillion dollars? Emperor of the whole world my friend at least Emperor of Europe. And the USA? well we would not allow that to happen, would we? Now to keep all in perpective something for your funny bone: Ann Telnaes Cartoons
No matter what Faith and Grace will carry many through turbulent times…but not all for many millions of dollars and a priviledged life was not enough … and so it goes