It's been a long time since I was this frightened on Friday the 13th. No, superstition has nothing to do with it - but Congress (at least the ones who voted for it) and the President do. This legislation and the spending it authorizes is really scary.
Do you realize the impact of the colossal knee-jerk, anti-free market, out-of-control stimulus spending bill that has just been approved? It won't officially pass until the White House flies the 60th Senatorial vote back from his mother's wake in Ohio later tonight (I wonder at who's expense).
This is a blow to capitalism and to the free enterprise system. All of us who are entrepreneurs should be outraged. I am.
Given time, markets correct themselves. In fact, the housing market is doing that right now.
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Are you saying that our government is out of touch? Nah, can't be!!! Hang on for the ride because it's bound to be rough! ~S
Life is scary, but that doesn't prevent me from living it. I just keep on keeping on, and by doing that, things always seem to work out for me.
This has to be the scariest Friday the 13th. I am so disappointed with Washington.
Stephanie,
Oh this is going to be an "E" ticket for sure. :)
Steve
Russel,
We have no choice but to ignore Congress and hope that there actions won't have any severe effect on us. :)
Steve
Nelson,
It's a real head scratcher all right, and the ones that passed this bill are so proud of their actions. :)
Steve
Yea we can all stick our heads in the sand and hope it all was a bad dream. With NAR having the second most powerful lobbying group in America, where are the when we need it.
Steve, It is a perfect storm for an out of control congress and 2 of the worst leaders of the Senate the world has ever seen. This is much more scary than Friday the 13th...
Your right Steve...it was just announced the other day that retail sales was up by 1% in January. All I can say is this bill is WRONG.
Charles,
If you mean why didn't we get any housing related items, the answer is we didn't need them - and we sure didn't need what we got either. We required none of it. :)
Steve
Paul,
I don't know how this is going to work, but I sure don't like it. :)
Steve
Teresa,
This bill is very wrong, and every person who voted for it should be voted out. :)
Steve
Who's mother's wake? hmmm well you can always add it to my new group... Friday Funnies..-)
Maybe the mantra for government service and the litmus test for passing bills should be "Do no harm." Government "help" always comes with a price. We are moving in a dangerous direction from a free market to a managed economy. Didn't we learn from FDR's price and trade regulations (many of which were later declared unconstitutional) that overregulation and government managed economics are bad ideas.
Hi Steve:
I agree that the market is correcting itself also. It's going to take some time.
Frightened on this Friday the 13th, is putting it lightly!
Liz,
I believe it was Sen. Brown from Ohio, but you can check. :)
Steve
Ryan,
That's the point. We free marketers learned. The others actually think it's a good idea. :)
Steve
Toula,
Thanks for your response and great comments and observations. :)
Steve
I wish more people were willing to follow the money. Here are a few beneficiaries of the bailout (not stimulus - but the idea is the same): AIG - $40 Billion Bailout - $21 million spent on lobbying (2007-2008), Citigroup - $45 Billion Bailout - $16 million spent on lobbying (2007-2008), JP Morgan Chase - $25 Billion Bailout - $12 million spent on lobbying (2007-2008), Merrill Lynch - $10 Billion Bailout - $9 million spent on lobbying (2007-2008), GMAC - $5 Billion Bailout - $6 million spent on lobbying (2007-2008), BOA - $35 Billion Bailout - $7 million spent on lobbying (2007-2008), Goldman Sachs - $10 Billion Bailout - $6 million spent on lobbying (2007-2008), Morgan Stanley - $10 Billion Bailout - $6 million spent on lobbying (2007-2008). (Business Week - Feb. 23, 2009) Pretty decent return on your lobbying dollars. Now, read what individual Representatives and Sentators had invested in these companies. Here is link: http://www.opensecrets.org/news/2009/02/financial-services-members-to.html.
I may be simple minded - but here it is. Elected officials have millions invested in these banks. Elected officials receive millions in campaign contributions. Banks spend millions on lobbying and campaign contributions. Government writes big checks. Banks get funds. Elected officials protect their investments and get campaign contributions. The American public gets soaked with debt. I bet when you analyze the new spending bill you will see the same pattern.
Hi Steve
Yes this has been a very frightening Friday 13th; the scam out of 2009 has been passed by both the Senate and Congress. Now that they passed the bill do you think that they will take time to read it?
Good luck and success
Lou Ludwig
Steve:
Here are some of my favorite punditspeak quotations:
Some are applicable to the current debacle in Washington.
Ryan
Ryan,
With your bailout recap, you added a whole new dimension to how we have embarked on such a dangerous path. :)
Steve
Lou,
I'm thinking they already have their sights set on crafting the next one because we all know that this wasn't far-reaching enough and that we'll need more spending. :)
Steve
Ryan,
Those are great, and I won't even attempt to improve upon them. If you can find it, read the one-liner Margaret Thatcher had to say about socialism. :)
Steve