the ayatollah of iran considered obama's speech rhetoric. if he can see through the facade of obama why can't the majority of americans? obama wants to reach out to the muslim world w/ mutual respect and interests. iran's interest include acquiring nuclear weapons, and seeing israel wiped off the map, does obama share the same ideas? we've had a long standing policy not to have diplomatic relations w/ countries that sponsor terrorism. and now obama wants to change that. everything obama changes goes from bad to worse so far.
on a different topic, tim geithner is going to be unveiling a new toxic asset plan possibly on monday. oh goodie. i am not an economist by any means. i get a money in the bank and pay my bills and am trying to save some. however from what i know from my limited knowledge of bookeeping an asset is seen as a good thing. now toxic means harmful or poisonous. so by definition toxic asset is an oxymoron.devised by tim geithner a complete moron.who was appointed by obama.(fill in your own word here).
according to the news report posted on yahoo, geithner wants to tap the fed reserve who just printed 1.2T in new money. and have the fdic involved as well, since it is unlikely that congress will be in a giving mood to dole out anymore money. is this a sound strategy? the fdic is the entity that insures the money we have in the bank will be there if the economy goes bad. geithner isn't done there, the first part involves creating a public-private partnership. where the treasury would hire a couple of investment firms to match private money with government funds. what money does our government have to put in? we'll have a 9.3T deficit over the next decade even before this ill conceived program may be launched.
secondly, geithner wants to expand the fed reserve program TALF, which provides loans to investors to buy up consumer debt so it will be easier for the consumers to get a car loan, student loan or credit cards. now that makes a whole lotta sense. the fed loans money to people so they can buy up other people's debt, so then the latter group can get in debt all over again. now for geithner's coup de grace, he wants the fdic(who keeps our money safe) to form partnerships and loan them money. these new partnerships would then use the money to buy up more toxic assets.that would be our money at risk too. the end result, the banks would get the bad debt off the books and be free to lend again. so now everybody will be in debt. and geithner was touted as the genius to get us out of our economic woes, they even overlooked his being a tax cheat. does this sound like a plan of a genius or a complete idiot? i heard a news commentator say on fox news shortly after obama was elected and they were working on their economic plans. he likened the plans as risky at best, to making love to a gorilla i believe. you are not finished till the gorilla is. we are in trouble people. when will we say ENOUGH NO MORE!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment