Friday, September 26, 2008

How do we fix this economic mess?

If you want to know how you can help the government and tell them what they need to do to fix the economic problems we are facing, check out this article by Dave Ramsey. He talked to an economist, Brian Wesbury, who explains what we need to do as the American people to fix this problem:

Here is the article:

The gist of it is this...

Call your Congressman. Call your Senator. Tell them to change the mark-to-market accounting law and to extend insurance but extend no loans. If they extend loans - if they borrow the money on the national debt in order for us to all go into the mortgage business a trillion dollars - you're going to fire their butts and send them home. [words by Dave Ramsey]

I personally thinks this is a much better idea then what the President and Congress have in the works. If we can get enough people to contact their representatives and let them know what we, the people, want, they might change their mind about fitting us with a $700 billion bill. We might just stop this bailout from happening.

If you would like to know more about Brian Wesbury, check this out: http://en.wikipedia.org/wiki/Brian_Wesbury.
For the audio version of what Dave Ramsey said, look here.
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Letter to Administration

Today, I wrote a letter to the President, our Congressman and Senators expressing my concern over the planned $700 billion bailout and how it should not happen. Below is the text of that letter. I hope it will be used by others to contact their representatives letting them know this is not something that is good for America or the American taxpayers!



I am very concerned about the current bailout proposal as well as all the other bailouts that the government and federal reserve has implemented. Where is all the money coming from? How much of this money is going to have to be covered by the American taxpayers? Why in the world would we want to add more money to the national debt that is already at record levels? I recently read information on the United States Credit Rating. It is currently sitting at AAA, which is the highest it can be. As the U.S. takes on more debt, it is my understanding that this credit rating could be in jeopardy of being lowered. This could have a huge impact on the government's ability to borrow money. All these bailouts are weakening the fiscal profile of the United States. This is very concerning to me. It is my understanding that the best way to show that you are fiscally responsible to never get into debt and to pay everything in cash, not on a payment plan. If this is something that individuals, families, and businesses should live by, why not the government.

The other concern I have is the ability the federal reserve has to just print more money when they need it. I'm not an economist but I have done enough reading to know that the easiest way to increase inflation is to print more money. It is my understanding that is what will have to be done in order to cover the exorbitant amount of money the government will be using to bailout all of these companies.

The government created the current problems on Wall Street and the American taxpayers should not be responsible for fixing a problem they didn't create. It is only common sense to not give loans to people who do not have the means to pay those loans back. Owning a house is not a right and should absolutely not be an entitlement for every American. It should be a goal of every American to work towards owning a house but every American needs to prove themselves that they are fiscally responsible enough. If they are not, they should not be given a loan. It is that simple. In regards to the companies that decided to give loans to people without checking their credit, their income, or anything else that shows they are ready for a loan, they should go under. Because of what they did, people are losing their houses, expecting that would be able to afford the house at some point. These practices by these mortgage companies are unconscionable but they were pushed and sometimes threatened by the government to do so in the name of getting more minorities into a home or getting more Americans into a home. This has also had a huge impact on other areas of the financial market that were just doing their job. AIG had to insure all those bad loans. What were they supposed to do when all those loans defaulted. This will continue to rollover into other areas: more banks will fail (as we see with Washington Mutual today) and more people will lose their jobs. Is this something the U.S. government wanted on their heads? I don't think so. I do not blame this administration, they are just the one's that have to deal with the messed caused by laws and regulations enacted in 1977, 1995 as well as others.

I'm very disturbed by the current trend of the U.S. government to drag this country further and further towards and into socialism. That is NOT the way to fix this country's problems. The market will correct itself, it always has and it always will as long as the government STAYS OUT OF THE WAY. That is the way it was designed. It may be hard to get through and people may loose money, jobs, homes, etc but just as with the Great Depression, the American people made it through and were stronger because of it.

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Thursday, September 4, 2008

Go Sarah Palin!!!

It has been way to long since I posted on this blog. With work, school, family and church it seems that I don't have the time to do some of the things that I want to do. I just had to post about Sarah Palin.

I took time to watch her speech at the Republican National Convention. I have not heard a speech like that for a very long time. I don't recall hearing any studdering, hesitating (besides when the crowd applauded), or nervous words (um or uh). She was strong with an aura about her that was very convincing and powerful. I was so excited to finally hear someone speak their mind without worrying about being politically correct. She spoke from the heart and sent the liberals and media elites scrambling. On thing is for sure, she doesn't back down from a fight.

If you get a chance to watch it, I would highly recommend it. Here it is on Youtube

Check this out for a few excerpts from the speech.

When I was listening to Shawn Hannity, he mentioned a video that the RNC / McCain campaign posted on YouTube. It is a biography of Sarah Palin. It's really good.
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