I remember comments by Andy Rooney on "60 Minutes" from a program years ago. The military was purchasing new tanks that cost a million or two apiece. There were problems with them. They clogged up when they ran them in the desert. A $2,000,000. lemon. Andy suggested for the same money the army could outfit every soldier with a new Chrysler LeBaron. Happy troops. There was no war going on at the time. I don't think our guys and gals would feel secure driving the Baghdad airport road in a Chrysler LeBaron now.
Maybe it is time for some brainstorming on the Economic Bailout program. I have started getting emails with other solutions. Our 6th District Congresswoman, Michele Bachman, is a national conservative leader of the opposition to the original bill. Her background as a lawyer is in the financial realm and she may have a better grasp of the situation than some. Time will tell what is the right thing to do. We will know if we don't do it and suffer the consequences or we will suffer consequences and never know if it is what we did was right.
Why not consider some alternative plans and ideas? As a patriot, I will throw my 2 cents worth out for consideration.
Everyone is worried about how a credit crunch will affect credit. We might not be able to use our credit cards. Good. Let's confiscate all the credit cards and see what happens. We didn't have credit cards in the first years of our marriage. You could get "charge" cards. You had to pay the bill in total when you got it. No carryover. No interest charges. Seems like a good way from keeping people from spending more than they earn. Many ruin their lives getting buried in credit card debt. You could still order airline tickets online but pay at the end of the month.
South Dakota laws have been a haven for credit card companies to charge usuary interest rates on credit card loan. There is no federal law forbidding charging 25 - 35% on unpaid balances. People can never get ahead of that debt if they make monthly payments. Show some spine Washington and pass a federal law outlawing usuary. If we don't pass such legislation maybe we could just invade South Dakota and nationalize those lending companies. There aren't many people in South Dakota. Piece of cake for the marines to take over on a weekend. There aren't even any trees in South Dakota for executives to duck behind. Go for it. A lot of people with foreclosed homes also have excessive credit card debt. Now they might be able to afford the house payments.
It has been said we need to pay bright CEOs huge salaries and generous stock options to attract them. Okay. How about holding most of their earnings/ stock options in a fund that they cannot collect until age 59? Put them on the same footing as the rest of us with our IRAs and retirement funds in the market. Let their assets reflect how well they manage their corporations. If they take the company into bankruptcy their fortune goes too. Give them some long range goals. Share the pain with the rest of America.
In inner cites there are blocks where there are more vacant foreclosed homes than occupied ones forcing the value of all homes down. When the market is flooded with foreclosed homes that don't sell, can't they at least be rented to the previous owner? Some are empty and vandalized. Thieves strip the copper plumbing for scrap metal making them almost unsalvagable. Minneapolis had a recent house explosion due to someone stealing the copper gas piping. Boom. Dangerous situation. Keep them occupied.
When the government needs money, they print more. Each dollar is backed up by our reputation, not gold. We have some gold reserves, but not enough to back each dollar with the proper amount of gold or silver. How long will the world trust our reputation with headlines like we have been having? How long will they put their $$ in our banks? We better back our dollars with precious metal.
We still have all those copper pennies out there that no one wants. It costs 2 cents to make a 1 cent coin. Let's stop making them. Why make pennies that cost two cents and are worth one cent. Just round prices up to the higher nickel for a stimulus for business. Purchases would only increase by no more than 4 cents. Cheaper than the $10,000. the bailout will cost each taxpayer.
I saw a news piece on the escalation of people buying lottery tickets. Hard times and we should be saving our money. Instead, people hope to win big and put their hope in winning the lottery. I don't anyone misses a buck for a ticket, but some drop twenty or thirty on tickets that offer little in return. Decades ago banks offered prizes like toasters for opening new savings accounts. They now have surplus foreclosed homes on their hands. How about banks offering lottery tickets for a these foreclosed houses to people who open and then contribute to savings accounts in the banks? Save and you have a chance at winning a drawing for a foreclosed house. You get to keep the savings and earn more chances to win a house as you save more. Isn't that part of the problem? Banks assets are tied up in vacant houses? People need houses? Win/win. People who didn't win the drawing would still be saving for a down payment.
Unemployment is rising and construction trades have been hit hard. Didn't WPA work? Don't we have some infrastructure that needs tuning up? Does anyone have a plan?
This past week saw congress stymied about what to do about the economic bailout. One politico said we should quit calling it a bailout and refer to it as a recovery program. Go with the spin. Let us feel better about mortgaging the future.
Lastly, people are still angry and resentful that taxpayers are left holding the bag. I heard one commentor say we need to hold a few feet to the fire. Another said a public lynching would satisfy some. I don't believe in capital punishment but would go along with tarring and feathering a few billionaire former CEOs. I don't remember a commandment against that.
Maybe it is time for some brainstorming on the Economic Bailout program. I have started getting emails with other solutions. Our 6th District Congresswoman, Michele Bachman, is a national conservative leader of the opposition to the original bill. Her background as a lawyer is in the financial realm and she may have a better grasp of the situation than some. Time will tell what is the right thing to do. We will know if we don't do it and suffer the consequences or we will suffer consequences and never know if it is what we did was right.
Why not consider some alternative plans and ideas? As a patriot, I will throw my 2 cents worth out for consideration.
Everyone is worried about how a credit crunch will affect credit. We might not be able to use our credit cards. Good. Let's confiscate all the credit cards and see what happens. We didn't have credit cards in the first years of our marriage. You could get "charge" cards. You had to pay the bill in total when you got it. No carryover. No interest charges. Seems like a good way from keeping people from spending more than they earn. Many ruin their lives getting buried in credit card debt. You could still order airline tickets online but pay at the end of the month.
South Dakota laws have been a haven for credit card companies to charge usuary interest rates on credit card loan. There is no federal law forbidding charging 25 - 35% on unpaid balances. People can never get ahead of that debt if they make monthly payments. Show some spine Washington and pass a federal law outlawing usuary. If we don't pass such legislation maybe we could just invade South Dakota and nationalize those lending companies. There aren't many people in South Dakota. Piece of cake for the marines to take over on a weekend. There aren't even any trees in South Dakota for executives to duck behind. Go for it. A lot of people with foreclosed homes also have excessive credit card debt. Now they might be able to afford the house payments.
It has been said we need to pay bright CEOs huge salaries and generous stock options to attract them. Okay. How about holding most of their earnings/ stock options in a fund that they cannot collect until age 59? Put them on the same footing as the rest of us with our IRAs and retirement funds in the market. Let their assets reflect how well they manage their corporations. If they take the company into bankruptcy their fortune goes too. Give them some long range goals. Share the pain with the rest of America.
In inner cites there are blocks where there are more vacant foreclosed homes than occupied ones forcing the value of all homes down. When the market is flooded with foreclosed homes that don't sell, can't they at least be rented to the previous owner? Some are empty and vandalized. Thieves strip the copper plumbing for scrap metal making them almost unsalvagable. Minneapolis had a recent house explosion due to someone stealing the copper gas piping. Boom. Dangerous situation. Keep them occupied.
When the government needs money, they print more. Each dollar is backed up by our reputation, not gold. We have some gold reserves, but not enough to back each dollar with the proper amount of gold or silver. How long will the world trust our reputation with headlines like we have been having? How long will they put their $$ in our banks? We better back our dollars with precious metal.
We still have all those copper pennies out there that no one wants. It costs 2 cents to make a 1 cent coin. Let's stop making them. Why make pennies that cost two cents and are worth one cent. Just round prices up to the higher nickel for a stimulus for business. Purchases would only increase by no more than 4 cents. Cheaper than the $10,000. the bailout will cost each taxpayer.
I saw a news piece on the escalation of people buying lottery tickets. Hard times and we should be saving our money. Instead, people hope to win big and put their hope in winning the lottery. I don't anyone misses a buck for a ticket, but some drop twenty or thirty on tickets that offer little in return. Decades ago banks offered prizes like toasters for opening new savings accounts. They now have surplus foreclosed homes on their hands. How about banks offering lottery tickets for a these foreclosed houses to people who open and then contribute to savings accounts in the banks? Save and you have a chance at winning a drawing for a foreclosed house. You get to keep the savings and earn more chances to win a house as you save more. Isn't that part of the problem? Banks assets are tied up in vacant houses? People need houses? Win/win. People who didn't win the drawing would still be saving for a down payment.
Unemployment is rising and construction trades have been hit hard. Didn't WPA work? Don't we have some infrastructure that needs tuning up? Does anyone have a plan?
This past week saw congress stymied about what to do about the economic bailout. One politico said we should quit calling it a bailout and refer to it as a recovery program. Go with the spin. Let us feel better about mortgaging the future.
Lastly, people are still angry and resentful that taxpayers are left holding the bag. I heard one commentor say we need to hold a few feet to the fire. Another said a public lynching would satisfy some. I don't believe in capital punishment but would go along with tarring and feathering a few billionaire former CEOs. I don't remember a commandment against that.
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