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Looking at the foreign markets...
Well, it looks like the world didn't end.
Japan: Nikkei down about 5% at the open, levelled out, and looks like it's down about 4.12% now.
Hong Kong: Hang Seng down a bit more than 5% at the opening, and ended the day UP about half a percent.
Great Britain: FTSE Down 3% at the open, almost back to even as I write this.
France: CAC 40 Down around 2.75% at the open, back to 0.41% down currently.
So, it seems that by saving the dollar, we prevented the worldwide meltdown. Maybe Paulson's full of crap after all.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
FTSE just went positive.
Up 3/4 of a percent now.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
I think it was C4L, one
I think it was C4L, one democrat at least "blames" us:
http://edition.cnn.com/video/?JSONLINK=/video/politics/2008/...
Look at around 2:50:
"There is a wing of the Republican Party who, and several of them have said this publicly, who believe very deeply in this free market ideology and some of them said explicitly, Yes we understand there will be economic pain, but we think that is worth preserving freedom. And as they see it, freedom would be somehow impinged by this government intervention"
Speaking of Democrats...
Many more of them than I would have hoped for stepped up and did the right thing. It wasn't just Dennis Kucinich.
Ninety Democrats in the house voted to preserve the constitution yesterday. Good for them. Maybe we can start a trend, and raise awareness in the Democratic party of what Thomas Jefferson (the founder of their party) had to say about the dangers that banks pose to our Republic.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
EMAILS FROM C4L?
He's crediting the dozen Ron Paul internet spammers with defeating the bailout!
CNN is asking if the House should call for a DO OVER (revote)
It's like children whining "Not fair!" "Do over!"
Maybe we should just do Eeny, meeny, miny, moe. Or maybe a good game of "rock paper scissors".
Get your own "Ron Paul for Treasury Secretary" or "Nothing Changes 1-20-09 / Vote Third Party" sticker, designed by AlaskaRon, today!
http://www.cafepress.com/thirdparty08
RP2012!
Oh you made me laugh heartily
Odds or Evens Ron....This whole thing is like Hot Potato for the Republicans
Ihope you all heard... they
Ihope you all heard... they are still printing money, still inflating! this war is not over!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
PIG WITH LIPSTICK
Rep Ron J Klein FL (D-22)
Voted :::: YAY
I called his office---he wasn't in so I left a message.
I e-mailed him as follows:
YOUR PINK SLIP IS IN THE VOTE 11/04/08.
This bill should never have even come to a vote. If it is truly the taxpayer, home owner you want to help, then go to them and renegotiate with them, banks get their money back, owner stays in the home. OR give the small business owner a loan to float his payroll(why he/she is doing that is beyond me), write a loan to the person who wants a loan. That gets the money were it needs to be.
But for you to think this plan is going to help Joe six pack, hahaha. Their is no cap for wages to CEO's, only that they won't be able to write off more then $500K (BTW cuts into the profit), and 20% tax on the bonus.
DO YOU EVEN CARE WHAT MY I.Q. IS???
And as for debt to be collected after 5yrs., what keeps a bank #1 from opening a smaller bank(bank #2) selling bank #2 toxic loans, bank #2 applying for the bailout, then in 4.75 yrs. going out of business, just simply shutting it's doors.
There are so many holes in this, I don't know how you sleep with yourself at night.
I keep hearing that this bill wasn’t sold right, well sir, it is not in the sale but in the bill. What you need to do is go back and really think about the taxpayer/voter. Then and only then will you come up with something to sell.
edit : pig not big, sorry I haven't been sleeping well as of late. I will however get a good nights sleep tonight.
A silly suggestion
This is a little silly on how money supply causes the dollar to devalue but an old you tube video from a disney cartoon duck tales gives a funny, simple explaination. Try keywords, Ron Paul, inflation, duck tales, disney.
Here's a link
Here's a link to the video I think
http://www.youtube.com/watch?v=t_LWQQrpSc4
Thank You Dr. Paul! The
Thank You Dr. Paul! The outcome of this vote would have been completely different without your presence in our lives. In fact, without your leadership, not so much in the House...but out here, leading us, we would have sit by and watched the original bill pass through the House with perhaps only a handful of NO's. I believe you are the most important political figure in my lifetime. I have said before and will repeat; while other politicians busy themselves moving an agenda, you Sir move a nation.
Miamisburg, Montgomery County, Ohio
Keep calling and start
Keep calling and start putting pressure on the senate as well.
grant
Ron Paul Cartoon
I just posted my latest Ron Paul cartoon on my blog here
http://baloocartoons.files.wordpress.com/2008/09/1mortgage_c...
If anybody wants to use it, feel free — just include a link to my blog at
http://baloocartoons.wordpress.com/
Thanks,
Rex May (Baloo)
Wonderfully done fun
which will go far with all due credit. Many thanks.
Well Done!
I wish I had some semblance of artistic talent. Good job.
~~~~~~~~~~~~~~~~~~~~
The vox of dan -
Before the Face of God
The Voxdan Tumblelog
Really cute, and true...NICE
Really cute, and true...NICE one..
LEADERSHIP
As the economy continues to tank, Ron Paul continues to display competence, consistency and courage. If McCain were truly interested in the state of the nation, he would step aside and request that Ron Paul takeover as the Presidential candidate from the Republican party.
END the FED before it ENDS US
CNN now has a Poll too - should the House re-do the vote? GO!!
Marilyn in Lake Jackson
http://money.cnn.com/?cnn=yes
MarilynInLakeJackson
Thanks for the heads up
**What one of these polls needs to do is let people vote and then give them a place to write out why they think they are correct. I would love to see those reasons.**
What is interesting (and maddening, and sad and scary and...) is that, in my experience, the people who are voting against the bailout, that is, the public who is "voting" against it, have some idea what they are talking about and seem to understand economics, at least a little. They may not all agree on everything, but they seem to have done a little looking into the subject.
On the other hand, the people I know and hear and read that are in favor of it always seem to spew some non-sense about how we are going to be in the biggest depression ever if we don't pass this, or they tell horror stories about their grandparents during the depression, or whatever. They listen to whatever the "experts" tell them on Foxnews and CNN and repeat it verbatim, without ever actually understanding it or questioning it. After all, they're experts.
Anyways, just an observation. As I read threads and forums and listen to call-in shows, this seems to be the prevailing mindset. It is maddening but also sad to listen to someone speak with such conviction, defending something that Bush told them or their daddy told them or whatever. I appreciate their passion, but it is so misplaced. Or, if they argue it is not misplaced, they at least need to bring more to the table than "Bush said so" or "But the expert on CNN said so."
~~~~~~~~~~~~~~~~~~~~
The vox of dan -
Before the Face of God
The Voxdan Tumblelog
You know what's worse? This
You know what's worse? This same people supporting this bailout are usually the ones who complain about Bush and the Iraq War, but continue to support his legislation. Apparentally they didn't learn from history that the Bush Administration's greatest tactic is to scare people into supporting their evil plans.
I'm not a Democrat, but I find it really disgusting that they were voted into Congress in 2006 to put an end to Bush's abuses of power, and now those same people are the only ones left SUPPORTING HIM. Just more proof that the differences between the two parties are miniscule.
Voted, currently 50/50
When is Congress going to recess? I wish they'd hurry up and go home.
IMissLiberty
IMissLiberty
I am still confused about
I am still confused about why the dollar's value depreciates. That is one area I have always been unsure about. In other words, it seems completely arbitrary for the value of the dollar to get better OR worse. The dollar isn't actually worth anything in the first place. I just want it because I need it, but I don't genuinely want it and that is where value comes from. Hence, what value is there in the first place that changes. It doesn't make sense.
The more you have of something
the less it is worth. If there are only so many dollars floating around in the market, then those dollars will be worth more. You start dumping more dollars (fake) into circulation and they become worth less and less. That is inflation. Prices are not going up, the value of the dollar is going down. That is what happened to the Weimar Republic post WWI. It was a total nightmare. Since the Federal Reserve just keeps printing money with nothing to back it up, it just dilutes the money supply. Ron Paul, in his book, likens it to having Mickey Mantle baseball cards. They are worth a lot but if you all the sudden have a bunch more in circulation, the worth of them goes way down.
I am sure someone else has a better explanation but that's pretty good to me.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
The lip of truth shall be established forever: but a lying tongue is but for a moment...Lying lips are abomination to the LORD: but they that deal truly are His delight. Prov 12:19,22
No, I know all that. That
No, I know all that. That is common sense when you look at the dollar as worth something. And I kinda said the same thing (http://www.dailypaul.com/node/64812) but went with Honus Wagner. Forgot he said that in the book. But you're missing my point. I understand more of something will decrease it's worth. But that is presuming it is worth something in the first place and the dollar is not actually worth anything. I have no interest in it except for the fact that it is the mode of transaction in the country. But it itself has not actual worth. Hence, how can its "value" change. Do you understand what I'm getting at? I understand the concept of supply and demand. But for that concept to relate to the dollar, the dollar actually has to have a value, be worth something. The Fed can print all the money it wants but that is not the same as a rare baseball card. The card has some value that is effected by the amount of it. The card's quality is effected by its quantity. The dollar has no quality and thus can't be effected by its quantity. It's pure perception or rather misperception.
"THIS NOTE IS LEGAL TENDER
"THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE"
http://www.votepact.org/
http://opendebates.org/yourrole/petition/index.php
What the hell does that
What the hell does that mean?
It means that government
It means that government forces worthless paper on us as currency. It is "legal" tender. The result is that those who use the dollars perceive them as having value because government says they do. From there, the natural laws of supply and demand define the perceived value.
Value with all things is always perception.
Oh, I see what you are saying
Well, I guess it has value because we have all agreed it does. Even though it has nothing backing it up we still believe it is worth something so take it as a medium of exchange. When people stop believing it is worth something (looks like that is happening) they will not longer want it as a medium of exchange. Good point. I believe the more we have of it, the less it will be viewed as having value.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
The lip of truth shall be established forever: but a lying tongue is but for a moment...Lying lips are abomination to the LORD: but they that deal truly are His delight. Prov 12:19,22
Try This
The dollars you get, you get by working for them. You have a contract with your employer or customers.
Meanwhile, the financial institutions get credit (measured in dollars) really, really cheap from the Fed. So cheap, they scatter them about carelessly. The increased supply of "easy money" means your dollars are cheapened, because some people can get them without working for them.
They're only worth what you can get for them, and what you'll give for them, and if others devalue them, yours are devalued also.
IMissLiberty
IMissLiberty