T Nation

How to Fix Our Economy

This plan is really simple. I can’t take credit for it but I think it would work. What do you think??

Cut off all medical, educational, legal and housing benefits to illegal aliens immediately. Deport all illegal immigrants now in jail.

Arrest, indict and try the CEOs and CFOs of Wall Street firms suspected of financial misdeeds.

Seize the assets of CEOs and CFOs when their chicanery is proven. Turn their ill-gotten gains over to the American people.

Fire Chris Cox, the head of the Securities and Exchange Commission, for his criminal negligence in allowing Wall Street to rape the American economy.

Replace him with Eliot Spitzer, who, before he was taken down by the money changers, was the only one going after the criminals on Wall Street.

Stop the Federal Reserve from bailing out multi-billion dollar companies at the taxpayers’ expense.

Fire Ben Bernanke and let him get a job at NYU Film School.

Fire Hank Paulson and let him get a job as a celebrity chef.

I would extend your cutoffs to everyone and not just illegal immigrants. If you can’t

Other than that I would say this should do it. Maybe also lower taxes and cut government spending too.

How about only buying American made products. Make all your investments in American companies only. Only shop in American owned stores.

[quote]jawara wrote:
Cut off all medical, educational, legal and housing benefits to illegal aliens immediately. Deport all illegal immigrants now in jail.[/quote]

Labour camps are always cost effective.

[quote]Arrest, indict and try the CEOs and CFO
s of Wall Street firms suspected of financial misdeeds. [/quote]

Witch hunts are always fun.

Redistribute the Jews… I mwan CEO’s wealth to us people! Hell yeah!


Don’t hate the player. Hate the game.

What about ending the war… that might also save a dollar or two.

Eliot Spitzer is the most worthless piece of shit in the very long line of worthless pieces of shit.

Having him anywhere near a fix to a problem will only be inviting an entirely new set of problems to be fixed.

All I know for sure is more government IS NOT the fix.

I heard a talk show host on a radio show tonight mention how he would solve the economy problems and i thought I would mention it.
he said that the AIG bailout was to the tune of 85B.

instead of giving the money to them give the 85B to the american people like the stimulus package.

every person over age of 18 and he figured about 200 million people for a round number,would get,taxed of course,400 some odd thousand dollars.

after taxes it would put almost 300 thousand in a single persons pocket and almost 600 thousand in a couples pocket.

and something like 25 million or bilion I forgot what he said,will be put right back in the form of taxes people in debt will use that to buy out the debt,homes will get paid off or paid down, solving the housing market problem
people will invest or just spend on goods that will be taxed putting money back into banks and back into the tax pot so to speak.

people will be able to afford school and be more productive,or start bussinesses that they werent able to before,adding to the economy.

AIG would still be bailed out because people will be able to pay off the loans they had they could not pay off before.

seemed to be an interesting idea to me.
I know that will never happen but what do you guys think?

[quote]Nich wrote:
I heard a talk show host on a radio show tonight mention how he would solve the economy problems and i thought I would mention it.
he said that the AIG bailout was to the tune of 85B.

instead of giving the money to them give the 85B to the american people like the stimulus package.

every person over age of 18 and he figured about 200 million people for a round number,would get,taxed of course,400 some odd thousand dollars.

after taxes it would put almost 300 thousand in a single persons pocket and almost 600 thousand in a couples pocket.

and something like 25 million or bilion I forgot what he said,will be put right back in the form of taxes people in debt will use that to buy out the debt,homes will get paid off or paid down, solving the housing market problem
people will invest or just spend on goods that will be taxed putting money back into banks and back into the tax pot so to speak.

people will be able to afford school and be more productive,or start bussinesses that they werent able to before,adding to the economy.

AIG would still be bailed out because people will be able to pay off the loans they had they could not pay off before.

seemed to be an interesting idea to me.
I know that will never happen but what do you guys think?
[/quote]

Bomb Washington.

Let it go the way of Sodom and Gomorrah.

This guy is the best mutual fund manager I know of. I have the biggest chunk of my family investments in his fund. This is what he has to say about this;

http://hussmanfunds.com/wmc/wmc080922.htm

Here are some quotes;

Regarding Lehman, Sachs & Stanely; "The key is to recognize that for nearly all of the institutions currently at risk of failure, there exists a cushion of bondholder capital sufficient to absorb all probable losses, without any need for the public to bear the cost.

For example, consider Morgan Stanley’s balance sheet as of 8/31/08. Total assets were $988.8 billion, with shareholder equity (including junior subordinated debt) of $42.1 billion, for a gross leverage ratio of 23.5. However, the company also has approximately $200 billion in long-term debt to its bondholders, primarily consisting of senior debt with an average maturity of about 6 years. Why on earth would Congress put the U.S. public behind these bondholders?

The stockholders and bondholders of the company itself should be the first to bear losses, not the public. That is the essence of what a free and fair market, and a responsible government would enforce. The investors in the companies that produced the losses should be accountable for them, and the customers and counterparties should be protected."

“With regard to assisting homeowners, purchasing the bad mortgage securities from financial institutions will do nothing to help those homeowners because it does nothing to alter the cash flows expected of them. Congress will be a far better steward of public funds by offering distressed homeowners what amounts to a refinancing, coupled with a partial surrender of future appreciation.”

[quote]streamline wrote:
How about only buying American made products. Make all your investments in American companies only. Only shop in American owned stores.[/quote]

That’s IT! I am never buying Canadian again! Screw Tim Horton’s!! :wink:

an excerpt:

"The Last Superpower is unable to defend its borders, protect its currency, win its wars or balance its budget. Medicare and Social Security are headed for the cliff with unfunded liabilities in the tens of trillions of dollars.

What we are witnessing today is nothing less than a Katrina-like failure of government, of our political class, and of democracy itself, casting a cloud over the viability and longevity of the system.

Notice who is managing the crisis. Not our elected leaders. Nancy Pelosi says she had nothing to do with it. Congress is paralyzed and heading home. President Bush is nowhere to be seen.

Hank Paulson of Goldman Sachs and Ben Bernanke of the Fed chose to bail out Bear Sterns but let Lehman go under. They decided to nationalize Fannie and Freddie at a cost to taxpayers of hundreds of billions, putting the U.S. government behind $5 trillion in mortgages. They decided to buy AIG with $85 billion rather than see the insurance giant sink beneath the waves.

An unelected financial elite is now entrusted with the assignment of getting us out of a disaster into which an unelected financial elite plunged the nation. We are just spectators."

[quote]Nich wrote:
I heard a talk show host on a radio show tonight mention how he would solve the economy problems and i thought I would mention it.
he said that the AIG bailout was to the tune of 85B.

instead of giving the money to them give the 85B to the american people like the stimulus package.

every person over age of 18 and he figured about 200 million people for a round number,would get,taxed of course,400 some odd thousand dollars.

after taxes it would put almost 300 thousand in a single persons pocket and almost 600 thousand in a couples pocket.

and something like 25 million or bilion I forgot what he said,will be put right back in the form of taxes people in debt will use that to buy out the debt,homes will get paid off or paid down, solving the housing market problem
people will invest or just spend on goods that will be taxed putting money back into banks and back into the tax pot so to speak.

people will be able to afford school and be more productive,or start bussinesses that they werent able to before,adding to the economy.

AIG would still be bailed out because people will be able to pay off the loans they had they could not pay off before.

seemed to be an interesting idea to me.
I know that will never happen but what do you guys think?
[/quote]

I think this radio guy needs to re-check his math.

[quote]jawara wrote:
This plan is really simple. I can’t take credit for it but I think it would work. What do you think??

Cut off all medical, educational, legal and housing benefits to illegal aliens immediately. Deport all illegal immigrants now in jail.

Arrest, indict and try the CEOs and CFOs of Wall Street firms suspected of financial misdeeds.

Seize the assets of CEOs and CFOs when their chicanery is proven. Turn their ill-gotten gains over to the American people.

Fire Chris Cox, the head of the Securities and Exchange Commission, for his criminal negligence in allowing Wall Street to rape the American economy.

Replace him with Eliot Spitzer, who, before he was taken down by the money changers, was the only one going after the criminals on Wall Street.

Stop the Federal Reserve from bailing out multi-billion dollar companies at the taxpayers’ expense.

Fire Ben Bernanke and let him get a job at NYU Film School.

Fire Hank Paulson and let him get a job as a celebrity chef.

[/quote]

And hire Paris Hilton as the new head of the SEC. Word up!

[quote]Tyler23 wrote:
Nich wrote:
I heard a talk show host on a radio show tonight mention how he would solve the economy problems and i thought I would mention it.
he said that the AIG bailout was to the tune of 85B.

instead of giving the money to them give the 85B to the american people like the stimulus package.

every person over age of 18 and he figured about 200 million people for a round number,would get,taxed of course,400 some odd thousand dollars.

after taxes it would put almost 300 thousand in a single persons pocket and almost 600 thousand in a couples pocket.

and something like 25 million or bilion I forgot what he said,will be put right back in the form of taxes people in debt will use that to buy out the debt,homes will get paid off or paid down, solving the housing market problem
people will invest or just spend on goods that will be taxed putting money back into banks and back into the tax pot so to speak.

people will be able to afford school and be more productive,or start bussinesses that they werent able to before,adding to the economy.

AIG would still be bailed out because people will be able to pay off the loans they had they could not pay off before.

seemed to be an interesting idea to me.
I know that will never happen but what do you guys think?

I think this radio guy needs to re-check his math.

[/quote]

Yeah really considering the 700B proposed would only be $3500 in those two hundred million American’s pockets. I’d still take 3500 though

[quote]Tiribulus wrote:
All I know for sure is more government IS NOT the fix.[/quote]

That’s all I know as well. It seems that no one else does though as all the headlines today are calling for the economic collapse of the United States if the government doesn’t do the bail out. People, if this isn’t socialism, what is?

Deport illegal criminals, end the war, encourage companies to make “Made in the USA” mean something positive, punish those responsible for the mortgage mess, and let me run shit for a little while.

We’ll maybe this Government can get back to commen sense.

We have huge oil reserves in Alaska, offshore and in the Rocky Mountains. Commen sense would say maybe now would be a good time to tap into in considering were sending over 700 billion dollars overseas that could be used in this country to fix critical infastructure. So what do our politicians do they work on a “energy bill” that bans drilling in areas where the oil is. Where is the outrage from Amercian people.

We have allowed over 20 million illegals in our country that we the American tax payer is paying $250 Billion for.

How about we cut out the 9 billion in foriegn aid we spend abroad, some of these countries which hate us like Egypt for example who we give 2billion in aid yet vote against us at the UN over 80% of the time.

We also have to stop these failed Socialist experiments.A big reason why were in this sub prime mess is because the Government wanted the banks to give low income people access to huge loans to buy homes.If they didn’t make the loans available to low income families the Government would make it hard for those companies to expand there business.

It shouldn’t take a genious to figure out if you make $ 50,000 you can’t afford a home for 450,000 put people were buying them anyway and the banks were loaning it out.

How about not loaning money to people who aren’t credit-worthy? Simple. But Obama voted for the laws that made the banks make more loans to the un-creditworthy. You don’t get something for nothing.

[quote]PRCalDude wrote:
How about not loaning money to people who aren’t credit-worthy? Simple. But Obama voted for the laws that made the banks make more loans to the un-creditworthy. You don’t get something for nothing. [/quote]

You do in this country. Actually, in the good old USA you get rewarded for fucking up and punished for being a honest working class citizen.