jpcarterisme's Comments

I live in Olathe, KS. We can be a bit backward here. Pronounced - O LAY THA. Suburb of Kansas City. People mock and attack what they do not understand. In addition, their parents most likely were just like them and questioned anything that did not fit into their limited worldview. Sad.
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I agree that he pushed the fear button. However, I think he explained the problem in as basic terms as possible. Most people are saying "bailout". It really is an assuming of risk. The only entity that can handle this risk carcass (mortgage and derivative securitizations) is the U.S. Govt. They are clearing the carcass off of the road. If the road is not clear, money can't move down it and freezes up (what has been happening since last Thursday). No money = no credit. No credit = no business. We are a boom/bust economy. That is the price we pay for not being more involved in our govt. and economic structure and function. We can raise hell all day long about the mortgage paying public is taking the brunt of this. However, they were able to get 5% rates on their mortgages due to the same group of people they want to hang from the highest tree. They weren't complaining when their house was exploding in value and saying "wait a minute, let's take a look at why this is happening". They would have been laughed at & told to shut up. We all rode the rocket up. Now we need our own parachute. We are not bailing out Wall Street, we are bailing out ourselves. Ask Japan how they liked it when all the banks sat on their money. That is where we are headed.
There is no easy way to do this. I opt for let's get this party started instead of let's see if we can think our way out of this. Mistakes will be made, corrections will made, and we will look back at this time as a turning point in our history.
-By the way, I am a liberal democrat who is realistic about our options.
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If you go to the mexican food section of your grocery store, you can still get bottled Coke made with sugar cane instead of HFCS. It tastes like you remember it when you were a kid.
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Profile for jpcarterisme

  • Member Since 2012/08/08



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