Wednesday, September 24, 2008

Presidential address on the state of the Economy...

I don’t take kindly to threats

And the president starts his spiel:

“If we don’t do this (Economic rescue package)” and use SO much of the taxpayers $$ for this economy we could end up in a long and painful recession.
The president went on to say "Not passing a bill now would cost these Americans much more later & there would be a long and painful recession"(as if we are not CURRENTLY in a recession) & once Congress passes this bill that would use $700 BILLION of the taxpayers dollars this would "Remove risk on troubled assets" (like the mortgage crisis & banks issuing credit to folks whom credit score would not equal a perfect bowling score) & this would allow the banks to "Resume the flow of credit" <--newsflash this is partially what GOT them into trouble Oh, he now said this plan would “Protect taxpayers” and & "to try not give Failed execs a windfall…”
Hmmm, "700 billon taxpayers’ dollars would help our economy grow”

How?

The government can buy these assets & "hold them"(calling the failed mortgages & botched lending practices an asset is like putting lipstick on a pig) because our government has the foresight and patience to wait it out. <-IT being this correction in the US market. Figuring most Americans want to pay their debt & once it is paid off funds will be funneled back to the treasury and this wouldSafeguard the financial security”
Hmmm…

The FDIC has been in existence for 75 yrs (according to the Prez) and our banking institutions are stable...meanwhile the great Lehman Brothers one of the largetst financial services investment bank crashed after 100 + yrs (158 to be exact) due to all of this mishandlings of $$...Following the downfall of bear sterns and government bailout of AIG I cant take it...

Yeah, I can see where this is going, as if my job being in service to others while paying off $700 a month student loan debt that paid for undergraduate & graduate degrees while living in one of the most expensive cities in the world while not living a lavish lifestyle (but not living like a pauper cause quite frankly I am not sure how a pauper lives) while paying my taxes on April 15 of each entire year & gas prices up the whoha AND you want to tax me more to bail out the multimillion dollar wall street industry that still holds a glass ceiling and foot over women and African American women in this society??? RIGHT
Yeah, I am not buying into it,
and am thinking about which country I am going to defect to.
Counting the days till November 4…

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