SOME OF US ALREADY KNEW
If you are an average reader of the Dothan Eagle, you
have an annual income of less than $60,000, (much less
than what I make) less than a college education, and
by grace of God you are a republican and you believe
that George Bush is a smart person with your well
being, as an American at his heart. You are also
looking forward to your retirement , and having lost
much of your retirement benefits, and your 401k money
you are hoping for the generous social-security
benefits to tide you over in your golden years.
Now for the bad news, your job and current income are
not secure. George is only hoping that the economy
will only skate through the next election before it
takes an inevitable dive and then it will be too late
already for us, the US public to do anything about the
damage Mr. Bush's fiscal policy and tax cuts are about
to do.
Mr. Bush cannot , honestly expect a investment boom as
a result of his tax cut, no matter what he has been
saying. First the US factories are working at 74
percent of capacity. It will be a very long time
before we need to install new factories and equipment.
And if the new investments are made in the
computerization and automation, more and more people
will loose their jobs.
Secondly, an economic recovery will mean higher
interest rates, and with the deficit, projected and
accumulated, in trillions, the government will need
more and more monies just to service the current debt,
which stands at close to seven trillion already, and a
few point increase in the interest will kill all the
other government activity.
Third, if the interest rates stay low and the dollar
keeps falling, our imports will cost us more and more
(from garments to oil), and inflation will increase.
Thus the Fed may have to increase the interest rates
anyway. That is Jimmy Carter economy, that is
stagflation. Any republican economists out there? I
just want my social security.
__________________________________
Wed, 1 Jan 2003 21:57:00 -0800 (PST)
From: "
Subject: economy
To: martin.wolk@msnbc.com
Top of Form 1
&&&
Bottom of Form 1
__________________________________________________ Do you Yahoo!? Yahoo!
what follows is a copy of my analysis of the economy,
back in May of 2002, George bush and his cabinet has
decidedly left the economy alone, and focused on their
war on terrorism mainly because they have no clue how
to fix the economy, there are no winning propositions
out there, if you do read this letter and would like
to know why I think that war against Iraq is only a
ploy to keep the people's focus away from the mess we
are in at home, write me back.
September 11, 2001. horrible as it was has provided
the cover for the hinds and the hide of George bush,
in his heart , I bet bush is praying that Osama won't
be caught or the Iraqi's will provide with hi with an
excuse for the attack, a few hundred thousand more
dead Muslims don't matter. really?
this is also a copy of the same attachment
WHOSE MONEY
Are we surprised that the stock market is stuck right
at ten thousand for six months, that the producer
price index is going up , that the government received
a mere $100 billion less in taxes last month.
Or do you think that the idiots in Washington really
know what the hell they are doing. Or am I the idiot,
for having predicted a recession in July 1999, for
complaining that the dot com bubble was full of BS,
and having sold my stocks in August of 1999.
Once again, it is not the 9/11, it is the economy
stupid. If we were so stupid as not to realize that
most of the income of the treasury during the late
nineties was due to the churning of stocks ( thus
capital gains on those trades), and the outrageous
capital gains in the stocks and the real estate
markets, and that they will disappear with the
collapse of the dot coms and the silicon valley real
estate. Can you spell, collapse of banking and the
real-estate values country wide. The only thing holding
this economy right now is the homeland security and
national defense expenditure.
Out of the blue, the congress and the president
committed the nation to a $15 billion airline bail
out. Another $15 billion to rebuild the New York city,
and $40 billion more for the national defense, and
soon we are talking real money, (add to that the new
farm bill, the extended unemployment benefits etc,
etc,)
Why did our government passed a trillion plus dollar
tax cut, when according to their estimates we were
already in a recession. Why did no one in Washington
or New York know that budget projections were untrue,
Did Bush and his ilk pass a tax cut knowing that we
were going down the economic tube, Was there also a
cover-up? Can you say deficit spending? can you say
budget busting? can you say inflation? stagflation?
Come on George, are you not even a little bit curious?
And all the for a rag tag band of illiterate ,
starving , bare foot idiots? nah, the shit is much
deeper and stinks more baby! The all mighty USA
brought to its economic knees by one single incident,
nah! I for one ain't buyin it.
Let's get real folks, the losses in the market, have
not yet been fully explained or made up for, the real
estate losses are catastrophic, and the banks are
wounded, some mortally, let put all over cards on the
table now. Are there any B school grads out there that
don't have their heads up where the sun does not
shine and are not beholden to the wall street. Or what
the hell they have been serving at parties at the Yale
and Harvard, besides Ecstasy.
Why is no one say the king is naked, for too long we
have been borrowing stuff (trade deficit) from other
countries on credit, and then selling it here in this
country on credit, t6o people living on borrowed money
(social security, welfare, farm subsidies). The
chickens are about to come home to roost, and the free
trade is not going to save our jobs, or our necks.
So MR. my shit don't stink, Mr. Greenspan how do you
bail us out this time baby. George his betting his
and our collective ass, that daily rumors of the
Muslims coming to kill us are beginning to sound lame
to those that know the real truth, and by the way
don't put stupid ideas in the stupid heads of those
who may not have thought of them yet.
But going back to whose money, and I already
mentioned the trade deficit for one, folks don't
worry, it is not your money or my money. First it is
the money that we are borrowing from our kids and
grand kids and the great grand kids, the so called
social security money, can you spell , the lock
box????
Then of course we borrow the money from the stupid
foreigners, like the Japanese and the Saudis, and
remember the Kuwaitis, for whose defense the big
George took us out to the sandy environs of the great
Saudi desert.
Then there are always the industrialists from abroad
that are jst happy to laon us monies in exchange for
our green cards and citizen ship papers. So are we
selling the future of our future generations for
today’s good economy, are our gutless political
leaders ready to destroy the economic future of our
country for their short term political and economic
gains. When does it end, how long are to be made fools
off. Will someone please stand up and stop this
charade?
(M.N.R.)*
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