If Obama is the answer, what is the question?
The economy dummy!
After eight years of the Republicans in the White House, the US economy is on its knees and the rich end of town has the begging bowl out to people that they have been ripping off. These are the same guys that spend most of their time trying to avoid paying taxes, laying a heavier burden of decent tax payers with a cock and bull story to the American people that $700billion is a small price to pay for saving the “World as we know. [Hey, they believed us when we told them that Iraq had weapons of mass destruction, whatever they are, maybe we can fool them again.]
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And here’s me thinking that it was the banks that had all the money in the first place, and we and our Governments had all the debt!
But it appears that there are enough smart people on both sides of politics in the US to see that this is all a snow job.
What’s wrong with allowing any bank or investment house that has made bad decisions for at least the last seven years to suffer the consequences of their actions and go under? It will flush away the bad and allow the good operators space to grow and prosper.
The same should go for the administrators that have allowed lax regulation in the finance markets.
If you are a believer in the rescue, and the house coughs up the money, what makes you feel that US$700billion will be enough when the Dow lost $1.2trillion on one day because it didn’t happen?
If there is a bailout, then it should be for the millions who need it, not the fortunate few.
If there is to be a bailout, it should be for the millions of struggling homeowners who are hanging in tough in the face of bad mortgage loan arrears, and facing foreclosure, not for a few thousand in overpaid jobs. Lending to someone who cannot reasonably repay should be a crime, and those in on the deal should face jail time, not a golden parachute.
President Bush was absent [again] when action was needed, but then he was off on the shoot ‘em cowboy expedition that got the World bogged down and sitting on their hands waiting to see if they get to receive a handout from good old Uncle Sam too. like the NAB and the ANZ and Commbank and other Australian Banks who are losing money through bad investments.
Should the voters in the US will be thinking that more war is the answer, then John McCain will win.
If on the other-hand they believe that good governance of the economy is the answer, then Barack Obama will be the next President of the US. It’s that simple.
At the end of the day, aren’t most elections for most people about jobs, health care and education? When they are about staying in wars you ought not have started, or saving your economy from collapse to keep people in jobs and in their homes, then the choice should be obvious. Propping up failed businesses needs to be taken out of the choice.
By the way, have you seen this David Letterman video?
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About: Rick: Rick Adlam has been involved in mortgage finance since 1996 with Equity Home Loans as a Founding Partner. Rick created Mr Mortgage™ in 1999, one of Australia's first online mortgage brokers. As a mortgage introducer Rick specializes in helping his clients get approved for low interest mortgage loans with no ongoing fees and charges, and low doc home loans for the self employed.
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About the Author
Rick Adlam Has Written 139 Articles For Us!
Rick Adlam has been involved in mortgage finance since 1996 with Equity Home Loans as a Founding Partner. Rick created Mr Mortgage™ in 1999, one of Australia's first online mortgage brokers. As a mortgage introducer Rick specializes in helping his clients get approved for low interest mortgage loans with no ongoing fees and charges, and low doc home loans for the self employed.
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