Here is a nice video that explains things in easy terms complete with pictures and documents. Capitalism works when it is allowed to. When mistakes are made they need to be fixed in a way that is natural to laws of economics. Instead of teaching mostly algebra in our middle and high schools they should be teaching mostly economics. Instead our students get little to none, which is also hurting our economy today.
Watch the video and place the blame where it belongs.
http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487
Monday, October 6, 2008
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16 comments:
"here is a nice piece of propaganda that explains things as if we all were stupid children who don't have brains or the ability to do a little reading and figure things out for ourselves."
LOLV, It's not a matter of not having brains and being able to read. It really is about being honest and accepting the truth regardless where it comes from or where it leads. Call it propaganda if you want. As for being stupid, many Americans are poorly informed due to the heavily biased MSM and are so biased themselves, that they wouldn't know the truth no matter how it was presented or where it came from. I believe you fall in that class!
I did much reading about what has happened. Here is what I found: The Democrat party, especially Barney Frank, Chris Dodd and their friends in Fannie Mae and Freddie Mac are mostly to blame for what is happening to our economy. The Dems received millions to look the other way while men like Raines was ripping off the organisation and was making millions for himself by cooking the books. The MSM is so biased that they will never explain what happened, instead they will blame the Republicans as they always do. If these people involved are not held accountable, our economy is finished and we will have the Dems and their coherts in the MSM to blame. I want to see honesty, but I'm not betting on it. Consumer confidence is at an all time low and this is the reason why. Blame should also go to the Repubs for being a bunch of chickens and not holding those guilty accountable in the past for their corruption. I watched the video's between the oversight committees and the Dems from just 2 and 3 years ago and there is no question that the Dems are primarily to blame for loans given to people that they should not have. This whole economy may fall because of the greed of the Dems to get votes. What they really did was to create just another entitlement for their victim groups.
It wasn't entirely Wall Street that caused this, it was the Dems not wanting oversight and voting it down at least 6 times in a row just to increase their voter base. Then they have the nerve to want the leftist group, ACORN to get 20 million in taxpayer money from the bailout bill. Every one of these people need to be investigated and prosecuted.
LOLV, I forgot to mention that Barney Frank had a sexual relationship with one of the top people in Fannie Mae when Barney was looking the other way on what was really going on.
"The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae."
http://businessandmedia.org/printer/2008/20080924145932.aspx
LOLV, the truth will set you free if you will accept it.
Propaganda can be quite effective - especially if based on the truth. The GOP does not do enough of this.
The Left typically uses propaganda based on distortions - like "50 million Americans without health care." We at least forced them to admit that is a lack of insurance, not denial of healthcare. (Every person gets healthcare in the United States.)
But, of that number, which has dropped to 45 million, 15-20 million are illegal aliens. How do they count as "Americans"?
LOLV, does this mean that you agree that a failed Big Government policy to "promote" mortgages to low-income people produced this crisis?
LOLV, even the NYT is finally talking about the real causes of our financial meltdown. Maybe some of the staff is realizing that they may lose their jobs. Don't you work for the government, LOLV? Maybe you may have to get a real job like the rest of us. NYT article below:
http://www.nytimes.com/2008/10/05/business/05fannie.html?pagewanted=1&_r=1&ei=5065&partner=MYWAY
Joe, another one they use is that millions of "children" don't have health insurance. Children can't buy insurance, that is up to their parents or parent. That doesn't mean that they don't get healthcare. The emergency rooms in the hospitals are full of people without insurance, which drives up insurance costs for the people that pay. My son-in-law works there, so I know!
The public schools are similar. They are full of children that have only one parent that pays no taxes and lives on welfare. the rest of us have to pay even higher taxes as a result.
Having said that, we should educate and take care of all the children, since it is not their fault for the irresponsible behavior and neglect from the parents.
The libs have failed to help the "poor" to become self reliant and instead catered to them to keep them in poverty. All for votes! It's time that this ends! As Hillary would say: For the children!
Don't you actually need advance math to study economics?
I suppose that never occurred to you...
Advanced math? do you mean like Barney Frank and Chris Dodd have? How about common sense and honesty?
Read the actual post.
"Instead of teaching mostly algebra in our middle and high schools they should be teaching mostly economics."
Only problem with that idiotic statement is that you actually need algebra, and more importantly, calculus and ultimately differential equations to actually understand the "laws of economics." Of course, you can't understand calculus without algebra. But even basic economics requires some algebra. Only someone with absolutely no clue about economics can such an inane statement.
I guess they don't call her smart blond for nothing...
What is dangerous about the current situation is that people will vote based upon fear and emotions and not study the candidates qualifications and experience. McCain soundly trumps Obama on both but Obama will likely win because he spins a tale that more people 'believe.'
anon 5:23 - no I do not work for the government.
I would agree Joe that the way that policy was instituted and carried out was deeply flawed and was PART of what has caused this crisis. I do not agree that it is the sole cause, or even the main cause.
Only problem with that idiotic statement is that you actually need algebra, and more importantly, calculus and ultimately differential equations to actually understand the "laws of economics."
I guess when you don't like the message you attack the messenger.
Economics is not hard to understand, and it is not at all necessary to have algebra or calculus to understand revenue and expenditures. Basic econiomics, understanding where money comes from, and that government does not have any of it's own money should not be so complicated.
When I was in high school we had a choice, business math or algebra. I chose business, and understand econmoics quite well, which can't be said for today where our students don't have the choice. It's all algebra with an elective of family consumer science. That is why we have problems.
If you have so much money, and spending is more it is time to cut spending. It's that simple.
"I guess they don't call her smart blond for nothing..."
Personal attacks solve nothing. I'll bet you are a liberal Democrat?
Also, regarding health insurance:
The anon 5:46's ill-made and somewhat repulsive comment actually hits at the heart of why many people (of both parties) believe that providing health care coverage to all Americans is ultimately the right thing to do not only from a human rights perspective, but also from an economic perspective.
A working class family of four, with two-wage earners making above minimum wage and working full time, but with no health insurance make $31 K a year. They do not qualify for medicaid because they earn too much money. The cheapest insurance they could possibly buy privately would cost them $7000 a year. This is virtually impossible to swing, as that would leave only $23K to provide housing, heat and power, food, transportation, clothing, etc... for their family. So, they do not have health insurance and they go to the Emergency Room when its necessary. This means that when their child has strep throat, they have to go to the ER - at a cost of anywhere from $500 to $1500. If someone breaks a bone - that could cost upwards of $10K. Tonsil infections? Ear Infections? Appendicitis?
Those bills add up and either a) the family will go bankrupt trying to manage that kind of debt or b) they will simply not pay the bills that they cannot afford to pay. Either way the result is the same, the family ruins their credit history and is totally broke, and the hospital is stuck with the tab, which gets passed along to those of us who can pay.
The cost to you being passed along by insurance companies and hospitals is considerably larger than what you would pay in taxes in a public health insurance plan. The tax cost (averaged out among US Taxpayers) of Obama's health care plan is less than $500 a year. Of course, in practice this is an inequitable tax burden because its paid for by rolling back the tax cuts on families making over $250K a year instead of rolling out a new tax on all families. The projected savings on private health insurance for the average family is $2500 a year.
Universal Health Care works in almost every other developed nation in the world - we're talking about almost ALL of Europe, and a good chunk of Asia. Its embarrassing that our government has not solved this problem yet. And before you start in with "The US has the best Health Care system in the world..." We are ranked 37th by the WHO (the UN's health authority). We also currently have the HIGHEST % of GDP spent on health care in the entire world, as well as the HIGHEST $ expenditure per capita of any country. So.... we pay more for less.
Also Smart Blonde: I'm sure you do understand the basics better than a lot of people, but the earlier anon's point about needing to know advanced math to know advanced economics is really on point.
Additionally, in most school districts you can choose business math instead of algebra or other advanced math courses. It might mean taking those courses in a non-college-prep level, but they are offered. I took a business math course in high school instead of calculus. I had to specifically request it because my guidance counselor automatically enrolled me with all my classmates into the college-prep track, but when I asked to switch out there were several other options available to me.
Sorry the 2nd paragraph should have read "...earning *just* over minimum wage..."
I calculated those numbers based on full-time earnings at $8/hr.
"The anon 5:46's ill-made and somewhat repulsive comment"
Which comment was that?
Does the government owe everybody health insurance? Do they owe everyone a house? Do they owe everyone their meals, their clothes? Where do we draw the line? The government can NOT afford your proposed entitlements. They are giving too many entitlements as it is. I thought you would understand that by now. What about self reliance?
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