Simple Man Politics

G’day mates, I hope you all have had a great weekend. I’m sorry I didn’t post Friday but life caught up with me and I got real busy. However I’m back today and ready to go. Today I’m going to talk about the economy a little bit and the mortgage crisis and the current crisis on Wall Street. What do you say…let’s get started.

First let’s talk a little bit about the stock market. Today we saw the stock Dow close down more than 500 points on the day. The reason this occurred is because of some rather disturbing news regarding Lehman Brothers filing chapter 11 bankruptcy, Merrill Lynch selling out to the Bank of America for about half of what they were worth a year ago, as well as AIG stock plummeting 60%. As a result you have both parties screaming that the stock market needs tighter controls or more regulation which is their code for saying that the free market economy is responsible, which just isn’t true.

The Freddy Mac and Fanny Mae bail outs are yet another problem to contend with. These mortgage lenders were encouraged to make loans to low income families who other wise would not have been able to afford a home, although they were sub prime mortgages. They were encouraged to do this by the congress and as a result when the people they had loaned the money to could no longer pay their mortgages they were stuck with the notes. Then the Fed was motivated by the administration that was prompted by the senate and the house to bail them out. This also has contributed to what we are seeing on Wall Street today. A lot of the problem is also the fact that these companies are primarily run by liberals who were buying votes and using the public's cash register to further their own careers and fatten their wallets.

The President and John McCain have both said the basic fundamentals of our economy are sound and they are right, and Barack Obama would have you believe otherwise of course. Look at the facts though. Unemployment is still the lowest that it has ever been in our history, the GDP (gross domestic product) is way up, and the dollar is fairly strong. These are just some of the indicators that back up their claims that the fundamentals of our economy are strong.

With regard to the stock market according to the experts what we are seeing are offsets in the market. The market is down only 4%, so this is not 1987 crisis where the market was down 27%... there is not going to be a crash. One of the reasons the market is down 4% is because people have been taking out their profits and moving them to safer investments. Today has been indicative of a lot of money moving around the market. This is also proof that the fundamentals of our economy are still sound and that it is strong.

With regard to Freddy Mac and Fanny Mae I think the special prosecutor should get involved and go after the people responsible for what happened. They nailed Ken Lay (Enron) and Bernie Ebbers (WorldCom) to the wall and sent them to jail. I think they should do that to the people responsible for the mortgage problem too. The reason nobody is going to jail is because these are the politicians who were getting big money from these companies and the executives who run these companies. It is public record that they are mostly liberals and liberal democrats and the dems control both houses of congress right now and are not going to go after their cash cows.

Now I can’t force you to believe what I have said here today but if you do some research and not just read what the politician’s political machines have to say you will see I have told you the truth. These problems are not the fault of the free market economy or capitalism but of too much government. You all have a good day and I’ll see you again soon, CIAO4NOW!!!!!