Friday, November 30, 2007

The Economy, the Stock Markets, Our Other Iraq/Vietnam

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I have a hard time understanding Paula, on CNBC, other than as a finger pointing, blame anyone but the rich, "B" word.

Who basically owns and controls the banks, credit reporting institutions, and mortgage lending companies ?

Who then set the rules for the current mortgage debacle ?

Who was best in a position to know and understand the terms and consequences of the loans they granted to harried, barely making it folks, desparate for a roof ?

And now who is looking to stick the resulting mess to good old John Q. Taxpayer ? And spend a great deal of time and money, shaping the public thought streams to blame the little guys and gals for the mess?

Look also at the stock market and the brokerage firms connected to it? Would you sit in on and play at a gaming table, with your life savings, when the bigger and often nearly the biggest players are watching your hand, know everything that is in it, have access to your credit scores, and know what you currently are thinking about doing, under conditions X, Y, and Z ?

The larger brokerage firms have the ability to forecast statistically with a high degree of probability what is going to happen, given moves that they may or may not make, and can electronically factor in the moves of the other large players on a second by second basis.

There is an unspoken agreement among them to not tip the boat too much in any given direction, and to remember that they make their money doing trades. Doing trades thus becomes their prime motive. They do not really care which way the underlying economy goes, and can't really control it, as that is affected more by White House, Congressional, and world economy factors than their trading. But they can give the appearance of a get rich card game, and steadily fleece the customers on a regular basis. With the right word here and there, and the right counterbalancing buys and sells on their own part, the boat keeps rocking side to side, settling lower and higher, but always churning out cash for the brokers.

The general disregard for the condition of the boat, on the part of the of rich, the politicians, and frazzled John Q. Public middle and lower classes, and the fact that, $100 million dollars per year gross, corporations can lobby for even more laws in their favor, will lead to the complete destruction of the United States as a world power, and possibly as a country, if people do not wake up from their stupor. Bush might as well be spending his time pulling the lever at a big casino in Las Vegas, for all the leadership he offers.

We need major repairs and changes to the country's infra-structure. Alternative energy and fiber optics everywhere, plus upgrading railroads and other items would be a nice place to start.

Also, all individual contracts ever made should be available on-line, to the parties that made them and their attorneys, and stored in a government or non profit controlled site. The typeface should be setable by the viewer, and any terms unfavorable in any degree to the party that doesn't write it up, should be in red or a color of the viewer's choice. Likewise neutral items should be in green. In addition, a version should be available where all the favorable items, and all the unfavorable items, and all the neutral items, are in three separate piles. The placement shall be made by the writer of the contract, and that placement shall be disputable at a later date, at the option of the non writing party, often described as the consumer.

No more hiding behind 9 point or smaller type sizes!

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