What Are We Doing!

The company American International Group Inc (AIG) is now considering not selling of parts of the company to repay the American People the $60 billion we gave them. Instead they want to give those parts of ownership to the U.S. government. There only starting to think this way because they can’t find anyone to buy their crap, so their just going to turn it over to us. Is that how these company’s are going to treat the American people, if they can’t find a buyer for their crap what makes them think we want their crap.

Everyday I wake up I hear something new about company’s that have taken our money and have spent it with no care in mind. It seems like these company’s really just needed the money to give themselves big party’s, which is dead wrong. The banks and other insurance company’s are still reporting loses, and their not lending the money like their supposed to do. So why doesn’t the U.S Government call the loans back in? And if they can’t pay then we need to take them over. Someone needs to stop the bleeding these company’s are causing. It needs to be done, and done now before we lose all of our money.

Months To Come!

Today the Federal Reserve Chairman Ben Bernanke said that the economy is suffering through a “severe contraction.” He also stated that he would do everything that he could to bring the country back. He also feels that the Fed and the Obama people need to work together to make things work again. Chairman Ben Bernanke feels that fixing the banking system is the way to go, like most other people including myself. I think the U.S. Government should let all these big banks and insurance companies like AIG fail. We need to stop handing them money and let them go into bankruptcy. After they file for chapter 11 the U.S. Government can come in and take over the businesses, but only to break them up and sell them off. This way the Government won’t run them, we can get new management in there and start with a clean slate. And this way the only one’s that get hurt are the shareholders, which after all they invested in that company, they took the risk not the American people. Why should we pay anymore money for the risk these shareholders took. Hey President Obama, what’s wrong with doing this way? To me and most other people out there this way seems the easiest, after all it’s going to end this way, so stop wasting money people and smarten up.

Recession Much Worse!

I have been hearing that it’s going to get much worst before it’s going to get better. I’m sure you’ve all heard it as well. And for the most part I hear it coming out of President Obamas mouth. I think he knows more than what he’s telling the American people, as well as the rest of the world. And I think a lot of people are starting to feel the same way.

As I was searching around the net today I came across a interview with Peter Schiff, president of Euro Pacific Capital. He thinks if the U.S. government passes this new stimulus bill we will be in an “inflationary depression worse than anything any of us have ever seen.” He also thinks that if the U.S. government should stop borrowing and let the market take it’s course so we can come up with a new platform. Right now our economy is built on borrowing and spending. He thinks we need to build on saves and production, and I can’t agree with him more. We need to stop living the ways we are now and start making hard changes to save our economy. Because if we don’t, and the bond bubble pops there will be no more government borrowing, then what would we do? If the collapse of the dollar happens the U.S government will go broke, and then the rest of world will follow. It’s time to start saving, and build on a real economy, not a fake one.