Saturday, September 20, 2008

More Pain and More Politics

I'll admit that I was pleased to see the markets rally yesterday---I used that opportunity to sell some equities. Today's Fox Headlines are FACT vs. FEARS. Charles Payne made a great point by saying (to all those arguing that the government shouldn't be involved) that the government was already involved. Fannie and Freddie are major parts of the current crisis so therefore the government had to do something about the problem. I agree for the short term, but the bottom line is we have to have LESS GOVERNMENT.

To all of those Democrats that are using this opportunity as a to criticize the current administration---guys this problem with Fannie and Freddie started a long time ago and did exist during the Clinton Administration. It seems to me that so many in the mainstream media are AFRAID to state the real underlying problem. The underlying problem is that this country is catering to the lazy people that want to overborrow and have the government bail them out. Why should the government guarantee any home loan? If the government was focused on really creating the proper opportunities for the economy---through less taxes and better corporate environment---then we would see better jobs and people could afford to purchase their own homes without these government guarantees. Now granted they might have to buy a little smaller home and live within their means---but I have been living within my means my entire life so I have no sympathy for the "overextenders". As a matter of fact, for those that think I (through paying higher taxes) should bail them out when they over spend---I say KISS MY &*@.

I was shocked at Joe Bidens comments that the rich have a Patriotic duty to pay more taxes. Why isn't he talking about the lazy having an obligation to get up and work? Why isn't he talking about those already on welfare needing to stop having unprotected sex to get a larger check from the government? Don't tell me it doesn't happen because it does. Why isn't Biden understanding that we are losing jobs in this country because we are in a global economy and people overseas are willing to work their butts off for less pay. Our answer to global competition absolutely has to be increased productivity and it begins with less government handouts, which leads to less taxes and better corporate environments.

Lets think about Obama's tax plan. They are now saying that a retired person making $50,000 will pay no taxes, rather they will receive money back. Now with all of the baby boomers retiring that is a master plan---for failure. More redistribution of wealth.

I am not defending the spending habits of either party---both of their spending policies have been horrific. LESS GOVERNMENT is where we need to go.


Anonymous said...

the democrats want to add a 100 billion stimulus to the 700 billion that bush and paulson want.

why don't we just send everybody a bunch of reams of blank paper because that is what we are turning our currency into.

Anonymous said...

great post we are selling our future by rewarding lack of productivity

we are on the verge of socialism

Dollar.Discipline said...

Both of you are spot on!