Tuesday, September 30, 2008

Pushed around by the banks, NO

The financial world is pushing this counrty around. They think that if they scare us enough we will give in. The truth is they made a mistake in judgement and thought they could make a killing offf of high interest, high risk loans and they lost. They loaned money to people they knew could not afford it and yet they are shocked when they stop paying. If they had made the money they hoped do you think they would be giving it to us? But, now they want us to pay for their mistake. NO!! We are becoming a socialized govenment and that is not what I want.
Your retirement accounts are fine Meredith. You have years and years for the market to rebound, just continue to save and save and you will be fine. The people in trouble are the ones who are retiring soon, and the ones who have just retired. My parents may have problems for awhile, but the market will rebound and this could be a very healthy thing for the economy. This will make money hard to get and people will have to live on what they make. The fake world many have made will have to be changed. If you cannot afford it you do not buy it. Is that really such a bad thing? I will continue to write my govenment officials and tell them how I feel about this issue and others. This is a great chance to have your voice heard, no one listens better then in an election year. Write McCaine and Obama and let them know.

From an article at Foxnews from Andrew Jackson's day.

"You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”
Today I turn over my space to Andrew Jackson, the seventh president of the United States, who said these fiery words to a delegation of bankers in 1832:
“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”
The issue back then was the Bank of the United States, a federally chartered institution—sort of a predecessor to the Federal Reserve—that Jackson, ever the populist, strongly opposed. Today, most people agree that a national bank is necessary, but as today’s vote demonstrates, there is no national consensus on transferring wealth from the middle to the top. Good! Let’s hope that principle holds true for a while longer.
Today, the same as back then, big bankers attempt to blackmail America: If you don’t do things our way, exactly as we tell you, then the roof will cave in.
James Pinkerton. There is a better way.
Link to Dave Ramsy hit play and listen to his idea.

5 comments:

Unknown said...

If you are in good growth stock mutual funds you will weather this storm. You may lose value now, but if you have 10+ years to go you are going to be fine. Keep saving.

Unknown said...

The news just said, the market lost over 1 trillion dollars. Only if you sold at the bottom would you feel this loss. This is money that goes up and down and if you ride the wave you will be fine.

Heather said...

I'm with you lisa, although I don't claim to understand fully the ramifications of all this. I guess it does make a difference that I am young and know the stock market will rebound and I'm not so worried about my retirement. It does make me greatful I am debt free and I live in a home I can afford. even though I may be a butt-head sometimes:)

Unknown said...

I love you guys and sometime things you write just make me laugh and i think you are a goof and a butthead, but in a good way. HA

meredith said...

Lisa, you have my vote. When are you running for office? Thanks for saying it in plain English, because now I get it :)