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lquadland10 (< 20)

MY LETTER TO BEN AT THE FED

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June 24, 2008 – Comments (5) | RELATED TICKERS: FSLR , ESLRQ.DL , STPFQ

DEAR SIRS, BEFORE YOUR METING TOMORROW PLEASE TAKE INTO ACCOUNT A FEW FACTS. 2 YEARS AGO MIN WAGE WAS 5.35 HR. AND WITH 1 HR OF LABOR YOU COULD BUY 1 GAL OF GAS AND 1 GAL OF MILK. NOW MIN WAGE IS 5.85 AN HOUR AND YOU HAVE TO WORK 2 HRS FOR A GAL OF MILK AND GAS. RENT,GAS,HEALTH CARE,FOOD,CLOTHING,UTILITIES,MOVIE TICKETS,TAXES, EVERYTHING HAS GONE UP BY 100% SO WHEN YOU TALK ABOUT THE ENTIRE NATION PLEASE REMEMBER THAT 1/3 OF THE COUNTRY MAKES LESS THAN 10.00 AN HR AND FEELS LIKE YURTLE THE TURTLE AND OUR BACKS ARE BREAKING. PLEASE RAISE THE LENDING RATE BY .50 ON BOTH SIDES. PLEASE.  WITHOUT HELPING THE PEOPLE WHERE WILL THE BANKS LIKE CHASE BANK OF AMERCIA AND WELLS FARGO GET THE MONEY? WHEN YOU LOWERED THE RATE DID THE BANKS LIKE CHASE, BANK OF AMERCIA AND WELLS FARGO LOWER RATES BY THE SAME AMOUNT YOU LOWERED? NO THEY SLIGHTLY LOWERED IT BUT NOT BUY MUCH.  IF YOU DON'T RAISE RATES MY THOUGHTS ARE THAT THE ECCOMONY WILL SLOW EVEN MORE JUST TO PAY FOR THE BASICS.THANK YOU  So what do you think if the central bank raises the rate?

5 Comments – Post Your Own

#1) On June 24, 2008 at 11:03 PM, Harold71 (22.94) wrote:

Either way we're screwed, long term.  This isn't just about interest rates, it's about borrowing way too much money for way too many years.  The US gov't is the worst offender of all. 

I think the US will have a new currency in less than 10 years after a hyperinflationary blowout.  This debt based currency system is absolute lunacy.  It requires people to borrow more and more every year, just to keep the music playing.  We can never pay off the national debt, ever.  You can't completely pay off debt with another piece of debt.  The system is coming down, I don't know if the bankers planned it that way, but they had to know it was coming.  I'm sure they will offer us a lovely solution.

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#2) On June 24, 2008 at 11:25 PM, russiangambit (29.27) wrote:

Wall Street is actually hoping for a rise, this is totally unprecedented. The logic goes like this, - interest rates go up -> dollar will go up -> oil will go down -> stocks will go up. Talk about far fetched logic, reminds me of some math theorems. -))

Unfortunately, with economy doing so badly, Fed will probably chicken out and  will not raise the rates.

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#3) On June 25, 2008 at 12:02 AM, lquadland10 (< 20) wrote:

Past posting THE NEW WORLD DISORDER
7-year plan aligns U.S.
Rules, regs to be integrated
Posted: January 16, 2008
1:00 am Eastern

By Jerome R. Corsi
© 2008 WorldNetDaily.com

 


German Chancellor Angela Merkel, President Bush and European Commission President Jose Manuel Barroso at a White House summit meeting last April where they launched the Transatlantic Economic Council

Six U.S. senators and 49 House members are advisers for a group working toward a Transatlantic Common Market between the U.S. and the European Union by 2015.

The Transatlantic Policy Network – a non-governmental organization headquartered in Washington and Brussels – is advised by the bi-partisan congressional TPN policy group, chaired by Se.......

The plan – currently being implemented by the Bush administration with the formation of the Transatlantic Economic Council in April 2007 – appears to be following a plan written in 1939 by a world-government advocate who sought to create a Transatlantic Union as an international governing body.

An economist from the World Bank has argued in print that the formation of the Transatlantic Common Market is designed to follow the blueprint of Jean Monnet, a key intellectual architect of the European Union, recognizing that economic integration must inevitably lead to political integration.

 

As WND previously reported, a key step in advancing this goal was the creation of the Transatlantic Economic Council by the U.S. and the EU through an agreement signed by President Bush, German Chancellor Angela Merkel – the current president of the European Council – and European Commission President Jose Manuel Barroso at a White House summit meeting last April.

Writing in the Fall 2007 issue of the Streit Council journal "Freedom and Union," Rep. Jim Costa, D-Calif., a member of the TPN advisory group, affirmed the target date of 2015 for the creation of a Tr.......

Costa said the Transatlantic Economic Council is tasked with creating the Transatlantic Common Market regulatory infrastructure. The infrastructure would not require congressional approval, like a new free-trade agreement would.

Writing in the same issue of the Streit Council publication, Bennett also confirmed that what has become known as the "Merkel initiative" would allow the Transatlantic Economic Council to integrate and harmonize administrative rules and regulations between the U.S. and the EU "in a very quiet way," without introducing a new free trade agreement to Congress.


Sen. Robert Bennett, R-Utah

No document on the TEC website suggests that any of the regulatory changes resulting from the process of integrating with the EU will be posted in the Federal Register or submitted to Congress as new free-trade agreements or as modifications to existing trade agreements.

In addition to Bennett, the advisers to the Transatlantic Policy Network includes the following senators: Thad Cochran, R-Miss.; Chuck Hagel, R-Neb.; Barbara Mikulski, D-Md.; Pat Roberts, R-Kan.; and Gordon Smith, R-Ore.

Among the 49 U.S. congressmen on the TPN's Congressional Group are John Boehner, R-Ohio; John Dingell, D-Mich.; Kenny Marchant, R-Texas; and F. James Sensenbrenner, R-Wisc.

WND contacted Bennett's office for comment but received no return call by the publication deadline.

A progress report on the TEC website indicates the following U.S. government agencies are already at work integrating and harmonizing administrative rules and regulations with their EU counterparts: The Office of Management and Budget, the Food and Drug Administration, the Environmental Protection Agency, the Occupational Safety and Health Administration and the Securities and Exchange Commission.

A step toward world government

The Streit Council is named after Clarence K. Streit, whose 1939 book "Union Now" called for the creation of a Transatlantic Union as a step toward world government. The new federation, with an international constitution, was to include the 15 democracies of U.S., UK, France, Australia, Belgium, Canada, Denmark, Finland, the Netherlands, Ireland, New Zealand, Norway, Sweden, Switzerland and South Africa.

Ira Straus, the founder and U.S. coordinator of the Committee on Eastern Europe and Russia in NATO, a group dedicated to including Russia within NATO, credits Bennett as TPN chairperson with reviving Streit's......

A globalist with leftist political leanings, Straus was a Fulbright professor of political science at ......

The congruity of ideas between Bennett and Streit is clear when Bennett writes passages that echo precisely goals Streit stated in 1939.

One example is Bennett's claim in his Streit Council article that creating a Transatlantic Common Market would combine markets that comprise 60 percent of world Gross Domestic Product under a common regulatory standard that would become "the de facto world standard, regardless of what any other parties say."

Similarly, Streit wrote in "Union Now" that the economic power of the 15 democracies he sought to combine in a Transatlantic Union would be overwhelming in their economic power and a clear challenge to the authoritarian states then represented by Nazi Germany and the communist Soviet Union.

Also writing in the Fall 2007 issue of the Streit Council jour...... World Bank economist Domenec Ruiz Devesa openly acknowledged that "transatlantic economic integration, though important in itself, is not the end."

"As understood by Jean Monnet," he continued, "economic integration must and will lead to political integration, since an integrated market requires common institutions producing common rules to govern it."

Transatlantic Common Market by 2015

Last February, the Transatlantic Policy Network formed a Transatlantic Market Implementation Group to put in place "a roadmap and framework" to direct the activity of the Transatlantic Economic Council to achieve the creation of the Transatlantic Common Market by 2015.

The Transatlantic Economic Council is an official international governmental body established by executive fiat in the U.S. and the EU without congressional approval or oversight. No new law or treaty was sought by the Bush administration to approve or implement the plan to create a Transatlantic Common Market.

The U.S. congressmen and senators are involved only indirectly, as advisers to the influential non-governmental organization.

In a February 2007 document entitled "Completing the Transatlantic Market," the TPN's Transatlantic Market Implementation Group writes, "The aim of this roadmap and framework would be to remove barriers to trade and investment across the Atlantic and to reduce regulatory compliance costs."

The document further acknowledged the impact the Transatlantic Common Market agenda would have on U.S. and European legislators: "The roadmap and framework will necessarily oblige legislative and regulatory authorities in both Europe and the United States to take into consideration from the outset the impact their acts may have on transatlantic economic relations and to ensure that their respective governmental bodies involved have the necessary budgetary and organizational resources to work closely with each other."

Clinton administration roots

The work to create a Transatlantic Common Market can be traced back to the Clinton administration's decision to join in the 1995 New Transatlantic Agenda with the European Commission.

Today, the website of the Transatlantic Economic Council openly proc...... the TEC is "a political body to oversee and accelerate government-to-government integration between the European Union and the United States of America."

The first meeting of the TEC was held Nov. 9 in Washington, D.C., and the next meeting is scheduled for June.

A joint statement issued at the Nov. 9 meeting specified progress was being made "in removing barriers to trade and investment and in easing regulatory burdens" in a wide range of policy areas, including drugs and disease control, the importation into the EU of U.S. poultry treated with pathogen reduction treatments, federal communication commissions allowing suppliers to create declarations of conformity for products, uniform standards for electrical products and agreements on standards for pure biofuels. (Like I said before and I know you are tired of hearing me but Welcome to the United States of England formly Amercia.) 

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#4) On June 25, 2008 at 12:56 PM, ahabswife (62.20) wrote:

You can't keep squeezing the lower class and middle class this way.  Eventually it will pop. 

Why is lowering the interest rate supposed to be such a cure all anyway?

 

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#5) On June 25, 2008 at 2:01 PM, lquadland10 (< 20) wrote:

Because of all the tomfoolery that went on with the arms no doc loans intress only loans and whatnot. ( All of this is still going on.) Now because of our Central Bank lowered rates to much and to fast the ALT A the good loans are going  for bankruptcy. Why? They can't afford how prices went up to compensate for the devaluation of the dollar. Gas, Food and what not. Congress hasn't stopped the bad lending so this should go on for another 3 years or more. Plant a garden the depression will be bad.  Pay cash for everything including car house food everything. Be debt free and you will make it.

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