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lquadland10 (< 20)

UNLIMITED CREDIT FOR 18 MOS. TO RUSSIA CHINA AND JAPAN?

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July 24, 2008 – Comments (3) | RELATED TICKERS: FSLR , AUY , GLD

In going over the housing bill for Fannie and Freddie they get unlimited credit for 18 mos. Is Paulson and Ben really on our side? All of this money will go to the Private Owners (RUSSIA CHINA AND JAPAN ) and not to the stock owners. I THINK that Paulson and Ben are selling this country to the 2 largest COMMUNIST COUNTRY'S in the WORLD.I look at this government and Congress as selling this country away and using my and your money to do this. Am I wrong? Please tell me I am wrong.UNLIMITED CREDIT TO RUSSIA AND CHINA? PLEASE TELL ME I AM WRONG.

3 Comments – Post Your Own

#1) On July 24, 2008 at 12:45 PM, thought4 (20.12) wrote:

Very sadly you are right.

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#2) On July 24, 2008 at 2:21 PM, oldfashionedway (35.49) wrote:

According to Alstry "credit is evaporating everywhere"...

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#3) On July 24, 2008 at 4:15 PM, lquadland10 (< 20) wrote:

America's Middle Class Can't Take Much More Punishment

By Matt Taibbi, RollingStone.com. Posted July 23, 2008.


Whether we like it or not, America is in the midst of revolutionary economic changes that are crushing the middle class.

The following is an adapted version of a recent article by Taibbi. You can read the original version here.

I am a single mother with a 9-year-old boy. To stay warm at night my son and I would pull off all the pillows from the couch and pile them on the kitchen floor. I'd hang a blanket from the kitchen doorway and we'd sleep right there on the floor. By February we ran out of wood and I burned my mother's dining room furniture. I have no oil for hot water. We boil our water on the stove and pour it in the tub. I'd like to order one of your flags and hang it upside down at the capital building we are certainly a country in distress. -- Letter from a single mother in a Vermont city, to Senator Bernie Sanders...."The middle class is disappearing," says Sanders. "In real ways we're becoming more like a third-world country."  But wait...... our government allows large corperation to outsource. This is how it works. One Example: Take Ford. They open factories in Mexico. Job loss in the USA. Buy the parts from China. More job loss for the USA.Then after they get the cheep labor they are allowed to bring the cars back to the USA to sell and they get a tax credit because they are a large corperation in the USA. . Everyone forgot one thing. No job Low Pay Job.No money to buy the car. Same goes for IBM Herseys Microsoft cat de hal kbr ge and so on an so forth.30 years of giving away our jobs and now they want to take what little we have left to bail these companies out  by saving fan and fred (IE. Russia and China) so they take more of our jobs. The country not just the government is 53 trillion in debt and the fact is fan and fred won't need to raise money unless the market goes south. At least a 20% drop in home prices yet to come is forcasted. They will need to raise more money and our government will give it to them. It is going to be a bad Depression. We are now at the 1930 levels and after the deal with housing it will only get worse.  Report this comment

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