Comments on: Do The Right Thing http://imnottheonly1.com/2009/02/15/do-the-right-thing/ A weekly blog offering commentary on politics and social issues with a libertarian slant Fri, 18 May 2012 22:51:00 +0000 http://wordpress.org/?v=2.2 By: Foreclosure http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-6413 Foreclosure Mon, 29 Jun 2009 19:25:55 +0000 http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-6413 Very good information. Thanks for letting me know about this to help me in my foreclosure problems. Very good information. Thanks for letting me know about this to help me in my foreclosure problems.

]]> By: Not The Only One http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-3120 Not The Only One Mon, 16 Feb 2009 14:41:41 +0000 http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-3120 It only took eight years for the Republicans to come around and follow their consciences instead of their lobbyists. I guess they're finally coming down from their decade-long power trip and seeing it is now the Democrats who are drunk with power, all the while President Obama is trying to play mediator and compromise with both sides. There are three important things that the media is either not emphasizing enough in its coverage of the bailout orgy or the general public is simply not getting about the issue: 1) Washington is funding this initiative with money the U.S. doesn't have...in other words we're borrowing the money from Chinese banks. Since China's communist government has partial ownership in all Chinese banks, the Chinese government is actually lending us money. We already owe them at least a trillion dollars, what's another couple trillion? What happens when our Chinese creditors increase the minimum payments, or demand payment in full? Throughout history many nations have sold off part of the territory to pay off debts, and it will be a sad day if the Chinese decide to foreclose on California, Oregon, or some other large chunk of American real estate with the same value as our debt. But maybe they don't want our land at all, and the Chinese government will instead settle for our nuclear defense secrets. You and I probably won't be alive to see that day though, as the taxpayers who will pay this crippling debt burden have most likely not even been born yet. 2) If the public thinks the money Washington is throwing at American industries is a lot, wait till they see the added expense of all that "oversight", making sure the clowns at GM, JP Morgan or any other corporation asking for a bailout isn't flying private jet to exotic company timeshares or writing off escort services or cocaine parties as business expenses. Checks and balances don't come cheap, just ask our six- and seven-figure salaried representatives in Capitol Hill. Who knows, the cost of all this oversight may outweigh whatever money we actually send to these corporate fat cats who couldn't run a laundromat, much less a multi-billion dollar corporate conglomerate. 3) Fiscally responsible Americans have to pay for the fiscally irresponsible. With the mortgage crisis, those of us who live within our means are forced to pay for those who voluntarily sign mortgages for homes they cannot afford. Through corporate taxes, businesses that acted responsibly must pay for the businesses that did not exercise fiscal responsibility. And of course, although corporations are charged taxes, they pay them but rather pass them on to their employees in the form of lower wages and/or benefits or pass them on to the consumer in the form of higher prices. Nice blog, by the way. Mind if I add it to my blogroll? It only took eight years for the Republicans to come around and follow their consciences instead of their lobbyists. I guess they’re finally coming down from their decade-long power trip and seeing it is now the Democrats who are drunk with power, all the while President Obama is trying to play mediator and compromise with both sides.

There are three important things that the media is either not emphasizing enough in its coverage of the bailout orgy or the general public is simply not getting about the issue:

1) Washington is funding this initiative with money the U.S. doesn’t have…in other words we’re borrowing the money from Chinese banks. Since China’s communist government has partial ownership in all Chinese banks, the Chinese government is actually lending us money. We already owe them at least a trillion dollars, what’s another couple trillion? What happens when our Chinese creditors increase the minimum payments, or demand payment in full? Throughout history many nations have sold off part of the territory to pay off debts, and it will be a sad day if the Chinese decide to foreclose on California, Oregon, or some other large chunk of American real estate with the same value as our debt. But maybe they don’t want our land at all, and the Chinese government will instead settle for our nuclear defense secrets. You and I probably won’t be alive to see that day though, as the taxpayers who will pay this crippling debt burden have most likely not even been born yet.

2) If the public thinks the money Washington is throwing at American industries is a lot, wait till they see the added expense of all that “oversight”, making sure the clowns at GM, JP Morgan or any other corporation asking for a bailout isn’t flying private jet to exotic company timeshares or writing off escort services or cocaine parties as business expenses. Checks and balances don’t come cheap, just ask our six- and seven-figure salaried representatives in Capitol Hill. Who knows, the cost of all this oversight may outweigh whatever money we actually send to these corporate fat cats who couldn’t run a laundromat, much less a multi-billion dollar corporate conglomerate.

3) Fiscally responsible Americans have to pay for the fiscally irresponsible. With the mortgage crisis, those of us who live within our means are forced to pay for those who voluntarily sign mortgages for homes they cannot afford. Through corporate taxes, businesses that acted responsibly must pay for the businesses that did not exercise fiscal responsibility. And of course, although corporations are charged taxes, they pay them but rather pass them on to their employees in the form of lower wages and/or benefits or pass them on to the consumer in the form of higher prices.

Nice blog, by the way. Mind if I add it to my blogroll?

]]> By: Political Lipskip http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-3117 Political Lipskip Mon, 16 Feb 2009 03:31:29 +0000 http://imnottheonly1.com/2009/02/15/do-the-right-thing/#comment-3117 What disturbs me is that we already had $10 trillion in debt before last Sept. Now we tack on $8 trillion in bailouts? And that doesn't even cover the cost of entitlements!? I wish Americans would understand that it's not about Democrats vs Republican and simply look at what both sides have done, are doing, to the wealth of this country. Sadly, half the people in this country believe that Republicans are simply voting against the spending bill for partisanship. In fact, their opposition is wholly correct. Americans do not trust Repubs motives because they too have spend like crazy over the last eight years. The Repubs may not have any interest other than not supporting the Dems, but in this instance it is the moral thing to do and they got it right. What disturbs me is that we already had $10 trillion in debt before last Sept. Now we tack on $8 trillion in bailouts? And that doesn’t even cover the cost of entitlements!? I wish Americans would understand that it’s not about Democrats vs Republican and simply look at what both sides have done, are doing, to the wealth of this country. Sadly, half the people in this country believe that Republicans are simply voting against the spending bill for partisanship. In fact, their opposition is wholly correct. Americans do not trust Repubs motives because they too have spend like crazy over the last eight years. The Repubs may not have any interest other than not supporting the Dems, but in this instance it is the moral thing to do and they got it right.

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