- The US Economy - Right now as you all have heard the economy is in a slump. It is not the entire economy that is having a problem at the moment it's the housing market and all the mortgages given to people that could not pay the mortgages they recieved and therefore foreclosed on their homes. Companies like Microsoft and Google arn't feeling this slump very hard but their stocks are being slightly affected as there is a scare going around that the market will crash. The only reason this would happen is if all stockholders sold their stocks very fast. Just like after 9/11 the stock market was closed to prevent a crash. Well what is happening to the Stock Market? Major Recent Stock Market Events: - Fannie Mae and Freddie Mac were taken over by the government. These 2 companies allowed cash flow to the banks to give out mortgages basically. These 2 companies are the larges and hold the most loans in the USA. - The Lehman Brothers went Bankrupt This company was a large financial firm that serves the financial needs of the government, corporations, and any other large bodies. - Washington Mutual is for Sale After suffering heavy losses for about 3 quarters for a total of about 12 - 15 billion dollars and after receiving a new CEO WM has decided to sell itself. (Actually gave the stock a boost from 2.1 to 2.99) ~I own 603 at 3.5 and 184 at 3 so I am watching these guys and it is possible for a bankruptcy unfortunately~ - AIG is about to become bankrupt Your Mommy's and Daddy's retirement fund. These guys took out an $85 billion loan with the government to save itself and all the retirement funds it holds. Economic Status (bad1-10good) = 7 Stock Market Status = 7 The Stock Market is "NOT CRASHING" -Barack Obama's Proposal- "Enact a Windfall Profits Tax to Provide a $1,000 Emergency Energy Rebate to American Families" Tax large oil companies, how are they going to make up for the extra taxes? "Provide $50 billion to Jumpstart the Economy and Prevent 1 Million Americans from Losing Their Jobs" Wheres the money going to come from? "Provide a Tax Cut for Working Families" $500 for single workers and $1000 for workers with families. (per worker) "Eliminate Income Taxes for Seniors Making Less than $50,000" Get rid of a large portion of senior taxes. Income tax is the main source of money, these guys can't make anymore money though. "Simplify Tax Filings for Middle Class Americans" Make taxes electronic basically and prefilled, saving costs on paper. John McCain's Purposal "From Memorial Day to Labor Day there will be no Gas tax" "He will not give money to companies that fail to keep themselves alive because of greed" "Stop spending so much money in the government" "Low individual tax rates - sole-proprietorships, partnerships, landlords and others are taxed under the individual income tax. " "Balance the Government's budget "Cut The Corporate Tax Rate From 35 To 25 Percent" Keep the wealthy wealthy or promote growth? "Ban Internet Taxes" Didn't there were any <_< >_> "Ban New Cell Phone Taxes"
Well, I say "The capitalist regulation-phobic market made this, and it can either get itself of of the hole or keep digging, no help reqd. from the US Government" But then I see my failing mutual funds, so, heh.
You have two teams. The bankers, and the consumers. Half the bankers are trying to wreck the market, the others are trying to save it. Wallstreet in 1930 happened because the bankers wanted more money, and to remove the gold standard. Giev your support to the consumers,
Don't put someone in charge of fixing the economic problem. We need to get rid of the corruption first so it doesn't spread to the person in charge. (Then put someone in charge of the non-corrupted economic) Once the corruption is gone from the Gov't, it'll fall back in place with the right leaders and the right plans and a lot of hard work from EVERYONE in the US and other Nations willing to help.
I know who will solve them.... [attachment=0:1wqsdu8s]captiancapitalism.jpg[/attachment:1wqsdu8s] CAPTIAN CAPITALISM!
I am sorry but I read through Obama's stuff and I was like ok that's cool, then I read what John McCain said he would do and I was like holy shit fuck that other guy.