Re: Self-Fulfilling Prophecy

On Jan 21, 2:56 pm, Turby <turbosur...@xxxxxxxxxxxx> wrote:
On Wed, 21 Jan 2009 09:34:56 -0600, Chuck Rhode

<CRh...@xxxxxxxxxxxxxx> wrote:
Big Media is not shy nor slow about putting nationalization of all the
country's banks on the new administration's agenda.  Does anybody want
this?

Got any better ideas?
People talk about capitalism vs socialism. That dichotomy was dead a
long time ago. Eisenhower warned about the military industrial
complex, but it's gone way beyond that. The government subsidizes
farmers and veteran homebuyers, business investors, and it's the
nation's largest employer. Government has been intricately involved in
the economy for eons. We can only quibble about how much.

I got nervous about the economy last year and moved all my 401K money
into the _most_ stable fund available. Guess what? All that money went
into a fund that itself invested in AIG, Fannie Mae and Freddy Mac.
When you put money in a bank savings account, the bank turns around
and invests it in corporate America. It's not just big investors whose
wealth is at stake - it's every person in the world.  I don't own any
GM stock, nor do I own a GM vehicle, but there are millions of jobs at
stake, from suppliers, to realtors and doctors who depend on GM.

If we let the huge banks and the giant corporations like AIG and GM
fail, we _know_ there will be a collapse of the world's economy.
Pumping massive funds into them may not stave it off, but it's about
the only recourse. I have investment friends who are convinced the
markets are still headed for steep declines. Some think the Dow will
go below 5000.

Drastic times call for drastic measures.

--
Turby the Turbosurfer

Even "The Econonmist" agrees:

http://www.economist.com/blogs/freeexchange/2009/01/why_not_nationalise.cfm

What a mess we are in.
.

Relevant Pages

  • Re: Self-Fulfilling Prophecy
    ... I got nervous about the economy last year and moved all my 401K money ... It's not just big investors whose ... If we let the huge banks and the giant corporations like AIG and GM ...
    (rec.motorcycles)
  • Re: how the retirees save the banks
    ... savings accounts and money market accounts are losing money ... government effort to buy time for the banks to earn their way back to ... investors who have pulled their money out of riskier investments. ... facing retirees ironically being avoided. ...
    (soc.retirement)
  • Re: how the retirees save the banks
    ... How Retirees Saved the Banks ... savings accounts and money market accounts are losing money ... investors who have pulled their money out of riskier investments. ...
    (soc.retirement)
  • In case you missed this..."The Options Specialist"
    ... Bernanke predicted that the housing market "will most likely ... independent investment banks; where AIG, ... interest rates down to a level where investors will start to purchase ... The financials will be back on center stage again very shortly. ...
    (misc.invest.stocks)
  • Bank Shot: The President Shafts Enrons Victims
    ... The President Shafts Enron's Victims ... defrauding investors an accepted line of business. ... Wall Street's most powerful investment banks and their friends in high ... accountants and Wall Street banks created the ultimate ...
    (soc.retirement)