What Would You Say?

[dolfan]

If you had a chance to stand on a soapbox big enough for all America, all the world even, to hear, what would you say?

I was reading Acts 8, Stephen's sermon. He made his case against his audience. "You killed the prophets", "you murdered Jesus", "you are stiff-necked", "you always resist the Holy Spirit." And, in doing it, he recited Israel's national history of moral corruption, and tied it all into rejecting God.

Well, here we are in this mess. And, maybe it isn't cataclysmic, but it is a mess. If you could have our whole attention, could be a sort of Stephen, what would you say now?

[RamboPreacher]

Political announcement...
depending on the audiences, and the context, I assume we are talking about the bailout, so I might just quote Huck:

Frankly, I’m disappointed and disgusted with my own Republican party as I watch them attempt to strong-arm a bailout of some of America’s biggest corporations by asking the taxpayers to stink up the staggering results of the hubris, greed, and arrogance of those who sought to make a quick buck by throwing the dice.

They lost, but want the rest of us to cover their bets so they won’t be effected in their lavish lifestyles as they figure out how to spend their tens of millions and in some cases, hundreds of millions in bonuses and compensation which was their reward for not only sinking their companies, but basically doing the same to the entire American economy.

It’s especially disconcerting to see the very people who pilloried me during the Presidential campaign for being a “populist” and not “understanding Wall Street” to now line up like thirsty dogs at the Washington, D. C. water dish, otherwise known as Congress, and plead for help. I thought these guys were the smartest people in America!

I thought that taxpayers like you and I were similar to the people at the U. N. who have no translator speaking into their headset - that we just needed to trust those that I called the power bunch in the “Wall Street to Washington axis of power.”

The idea of a government bailout in which we’d entrust $700 billion to one man without Congressional oversight or accountability is absurd. My party or not, that is insanity and I believe unconstitutional.

Will there be far-reaching consequences without some intervention? Probably, but we honestly don’t know since we’ve really never seen this level of greed and stupidity all rolled into one massive move.

But may I suggest that letting “Uncle Sugar” step in and bail out the billionaires who made the mess will be far worse and will start a long line of companies and individuals who will demand the same of the government---which last time I checked means that they will be demanding it out of YOU and ME.

This is not money that Congress is risking from THEIR pockets or future, but ours. Many if not most of us have already experienced lost value on our homes, retirement accounts, and pensions. Now they’d like for us to assume some further risks so they won’t have to.

What happened to the “free market” idea? Is that only our view when we WIN and when we LOSE, we ask the government to come in and take away the pain?

If you are a small business owner, is this the way it works at your place? When you have a bad month, a bad year, or face having to close, can you go up to Congress and get them to write YOU a fat check to take away your risk?

Some of what contributed to this disaster is too much government in the form of Sarbanes/Oxley. Some is due to the tax structure that created the hunger for companies to “game” the system. Some is the common sense that was ignored like loaning money to people who can’t pay it back.

Wall Street has become Las Vegas east, but at least in Vegas, people KNOW they are gambling and they don’t expect the government to cover their losses at the tables. In Wall Street, they do. And the American taxpayer burdens the responsibility.

If Congress wants to do something, here are some suggestions:
1. Eliminate ALL capital gains taxes and taxes on savings and dividends right now. Free up the capital and encourage investment. This is the kind of economic stimulus the Fair Tax would bring and if Congress is going to lose money, let them lose it with lower taxes, not with public dollar bailouts of private market mistakes.

2. Repeal Sarbanes/Oxley. It has failed. It was supposed to prevent this. It didn’t. Kill it. (might I add, that I have experience here and I two thimbs up!!)

3. Demand that the executives who steered their ships into the ground be forced to pay back the losses of their companies. Of course, they can’t, so let them work and give back to the government and they can live like the people they put on the streets or kept there. It makes no sense to put them in jail—that’s just more they will cost you and me.

I’d rather them go out and earn money—just not get to keep so much of it this time. I’m not talking about limiting CEO salaries---just those of the people who now are up in Washington begging for help because they ruined their companies.

Attempts by Democrats and Republicans to blame each other is nonsense.

They are both guilty and ought to own up and admit it. They all lived off big campaign contributions and the swill of the lobbyists who strong armed them into permission to steal. Enough of blame. Fix it!

[forestwalker]

Echoing Rambo, assuming we're talking about the underlying problems in our current economic instability...



Whose fault is it that we're in this mess? The Democrats? Republicans? No. The fault is mine. And yours.

It's tempting to lay the blame at the feet of politicians who put a finger on the scale forcing banks to give loans to poor people not able to ever repay them. Or on other politicians poisoned by libertarian ideology who have spent the last thirty years pushing us toward economic anarchy. Or perhaps the black hole of greed that is Wall Street is your preferred target? Well, there's plenty of blame to be laid at the feet of all of these folks, but when it comes down to it they're all just symptoms of our cultural infantilism. I want it. I deserve it. Noone's going to tell me what to do or what I should or shouldn't want or have. More is better than less. This cultural immorality has given us social chaos (abortion, gay marriage, etc.), environmental chaos, and--now impossible to ignore--economic chaos. We are all complicit in this cancer that is tearing our culture apart.

Take a look at this chart showing the ratio of debt to income of the overall US economy. It shows both the result of our childishness and the cause of our current crisis. The sharp upward trend that began in the early eighties has grown worse and worse until today the US economy owes 3 and 1/2 times its annual production (income). In other words, the great "wealth" and "prosperity" we've enjoyed since 1980 was not based on economic growth, but on the economy running up its metaphorical credit card. The crisis we're looking at today is just the bill coming due.



Decide today that you are not what the last thirty years have done their best to shape you into. Repeat after me: "I am an American citizen, not an American consumer. I will not buy what I do not need and what I cannot afford. I will save money. I will live modestly. I will be an adult."

[one love]

I think that there should be a major class in how to save and avoid bad credit in high school. I think it should be a requirement to pass and understand that you have to prepare for your future.
Also knowing that the more you make does not mean the more you spend.

I am speaking from personal failures, not preaching what I have not done myself.

[dawgs10]

I think we need to teach the federal govt. that if you spend more money than you take in in taxes you go in debt and go bankrupt and lose EVERYTHING!!!!!!!!!!!!!!!!!!!!!!! its time for a freeze on all govt. spending. clean out all those that continue spending, freeze all the banks as FDR did and start over with a good plan and rules to hold the banks and the lenders and CEO'S in place. its time to say it dont work, FIX IT!!!!!!!!!!!!!!!!!!!!!!

[Full Quiver]

How about we the people QUIT reelecting the same ole folks to Washington to make the same ole mistakes time and time again and now we ask them to fix it. I'm talking all parties because they ALL have their hands in the cookie jar.

[dolfan]

Forestwalker said:

they're all just symptoms of our cultural infantilism. I want it. I deserve it. Noone's going to tell me what to do or what I should or shouldn't want or have. More is better than less. This cultural immorality has given us social chaos (abortion, gay marriage, etc.), environmental chaos, and--now impossible to ignore--economic chaos. We are all complicit in this cancer that is tearing our culture apart.

That's really the kind of thing I was looking for, I guess. Others?