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Real Crash - by Howard

 
Time to rebuild the infrastructure in New York, NY and the USA. Need Glass-Steagall Act, water projects, space program. Need a change.

Response to Fred Thompson on Fannie Mae

September 9th 2008 22:38
Real Crash- Looking at Capitalism and its Laws:
I guess that' s why they call it the blues.
I guess that's why they call it the blues


The article by Fred Thompson is interesting and somewhat useful in his misgivings about the take over by the US Government of Fannie Mae and Freddie Mac. Unfortunately it ends with the sort of "symbolic opposition" that drives me up the wall. If this is conservative, the financial liberals will win every time.

If we are to have a United States, we need real concrete statements of "give it back, stop it now, and political organizing to back it up. An alternative policy is needed as well. We can't bail out $5 trillion of mortgages...as a starter.


To do that, the mortgages must be frozen, and the banks accept rental payments until the crisis is over, even if that takes years to deflate the real estate bubble. We cannot raise the national debt ceiling indefinitely to bail this $5 trillion out. After all, there is more to come for sure... trillions more, like the soon to be not-exotic topic called financial derivatives.

Finally, the USA needs a four powers agreement with Russia, China and India for stable currency parities, long-range credit for infrastructure projects and national sovereignty especially relating to things like Protection of Food Production, and other similar tariffs.

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Comments
3 Comments. [ Add A Comment ]

Comment by S.L.

September 9th 2008 22:43
Two things, Howard. First, you're welcome! And second, Fred speaks for most true conservatives. That's why I supported him!

Comment by Howard

September 9th 2008 22:54
Well, thanks for the idea for a post. Fred Thompson can make nice analogies, but we (the citizens of the USA) need a policy to stop this ##$%^@& bailout now, before it's too late.

Comment by S.L.

September 9th 2008 23:01
I agree completely. They made the mess, let Fanny and Freddy clean it upp. If you can figure out how we can stop it, please let me know. Something concrete, though, Howard, not more Larouche. He isn't in a position to do any more than you or I.

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