"Think I'll invest with Madoff"
The leading indicators have not shown it yet, but if the price of gas continues to fall, the billions put in to the economy by the money saved by consumers to spend on other things will start a comeback of the economy – slowly at first, but will make a big difference within 6 months. This will make a bigger difference than the bailout and saving the Big Three. If the auto companies were allowed to take Chapter 11, their recovery and saving of their companies will happen sooner than it would with this bailout.
Have heard financial analysts saying how the cheaper gas is a destructive influence on the economy. I beg to differ and wonder if this shows any amount of common sense. I think that Harvard, Yale, and all those elitists colleges and universities in their teaching of these offspring of the elitists somehow erases any amount of common sense they have accumulated. I also heard one of these financial “gurus” saying the changes in credit card billing will only hurt the poor. I don’t think he is aware of how many poor people are being able to only pay the interests due and will be paying off this interest forever. Help to the poor would be better served by placing a maximum of 12 percent interest on all credit cards. The credit card companies will still thrive and offer a chance for the poor to be able to help in restoring the economy.
I know that the credit card companies are paying off the politicians by use of their lobbyists to continue to screw the American poor, and that is just another way they pad their wallets, and I doubt that there are very many honest Senators or representatives to take any action. Poor Diogenes would use up many lanterns looking for an honest man in Washington.
Speculators are at it again with oil – raising prices AGAIN, predicated on OPEC cutting production. They can rest easy. They will say they are cutting production, but Iran, Russia, and Venezuela may say they are going to cut and many other countries will say they are, but they won’t. Many of them are hurting and need every cent they can raise from their major cash crop. Should the price of oil fall further, which it would if allowed to, Russia, Iran, and Venezuela will lose their ability to underwrite terrorist groups, spread dissension, threaten their neighbors, and expand their sphere of influence.
Lowest rate ever on funds by the Fed – highest interests rates ever for credit cards, affecting 90 percent of this country – this doesn’t affect the rich because they pay on receipt of their bill and don’t end up paying these usurious rates. Many of the poor are now on the cycle that they are only able to pay the interest and can use its service no longer. How this is a boon to the poor, as some financial gurus are prone to say, escapes me.
There are some who got on this cycle by having to use these charges for medical needs, repair needs, or other necessities, and once caught in that trap the credit companies just sit back and watch the money roll in. I know that I am hung up on this and seem to repeat myself. What got me started again was when the news started blaring about how the Fed cut the interest rates to the lowest ever and all the financial wizards were shouting with GLEE! Another thing was how the Madoff investors were being classified as victims. That is not quite true. They were caught up in GREED and Madoff used their greed to bring them to slaughter. Now there is talk about helping them get some of their money back from the government. Had they made those fantastic returns they had hoped, I don’t think they would have offered some of it to the government.
I find the notion that they should be felt sorry for and efforts made to recover some of their funds reprehensible. They were caught by their greed and just showed their humanity. Seems that the government is intent upon bailing out the rich. It makes me sick. When Congress makes an effort to cut the usurious rates, the poor are charged. Stop the credit card company robberies – I might think differently.
The bank pays one-quarter percent for their money, then their credit card branch charges 20 to 30 percent on their credit cards. Think about it. Until these changes are made by use of common sense and possibly an honest politician leads this change, I will reserve my pity for the rich.
One thing for clarification, I must say I don’t have any credit cards, even though I get at least 2 offers a week. I don’t think the poor will ever inherit the earth, even though the Bible says they will. Shysters will keep on robbing until they own the earth. Let’s hope I am wrong.
