The most important banks have dwindled to a startling few. Wells Fargo (which is actually Norwest from a corporate takeover) throughout the northwest and southwest, Bank of America on the West Coast, Chase with offices everywhere including Joe Biden's Delaware (a credit card capital if there ever was one), and Wachovia in Winston-Salem, if it still exists at all.
I've watched, during all this crisis, as one day my "open to buy" on a Chase Visa was zero, and the next day, after a payment, back to nearly $30,000!
For those who complain that government should not be in the business of real estate, the Medicaid scenario clearly demonstrates that they are already there to an extent hitherto never before contemplated.
And as for the Federal government threatening profit by corporations and Wall Street investors, I am reminded of prohibition. That sad and unruly experiment failed dismally. Outlaw excessive profits and it will simply make them more attractive. When booze wasn't available legally, people just got it however they could. It's like sex for a teenager. Being told it's forbidden just makes it more exciting.
What are we to do?
First of all, let's not balance budgets state by state at the expense of those least able to bear the burden!
So I return to Governor Ritter.
Bill, you know better than to do such a dastardly thing to your poorer constituents!
All of the governors within our nation are in the same boat. They're frankly up Feces Creek without a paddle.
For my part, I wish that President Obama would call in the key members of Congress for an overnight meeting, and not allow them out of the White House until a truly bi-partisan omnibus measure is agreed upon.
Same with the governors.
Last night on late-night PBS, "World News Focus" I watched stories about Russians suffering in the economic downturn, and Iceland (once ranked sixth as a prosperous, developed nation) opening hostels and soup kitchens.
China's and Russia's productivity levels are shrinking and that leaves everyone worldwide in dire straits--especially the United States, since they own much of our national debt.
With no crystal ball, I cannot prophesy the outcome.
I only know that come this time next month I want to have refinanced my mortgage loan for more money at a lower interest rate.
But I'm not an economist.
I've watched, during all this crisis, as one day my "open to buy" on a Chase Visa was zero, and the next day, after a payment, back to nearly $30,000!
For those who complain that government should not be in the business of real estate, the Medicaid scenario clearly demonstrates that they are already there to an extent hitherto never before contemplated.
And as for the Federal government threatening profit by corporations and Wall Street investors, I am reminded of prohibition. That sad and unruly experiment failed dismally. Outlaw excessive profits and it will simply make them more attractive. When booze wasn't available legally, people just got it however they could. It's like sex for a teenager. Being told it's forbidden just makes it more exciting.
First of all, let's not balance budgets state by state at the expense of those least able to bear the burden!
So I return to Governor Ritter.
Bill, you know better than to do such a dastardly thing to your poorer constituents!
All of the governors within our nation are in the same boat. They're frankly up Feces Creek without a paddle.
For my part, I wish that President Obama would call in the key members of Congress for an overnight meeting, and not allow them out of the White House until a truly bi-partisan omnibus measure is agreed upon.
Same with the governors.
Last night on late-night PBS, "World News Focus" I watched stories about Russians suffering in the economic downturn, and Iceland (once ranked sixth as a prosperous, developed nation) opening hostels and soup kitchens.
China's and Russia's productivity levels are shrinking and that leaves everyone worldwide in dire straits--especially the United States, since they own much of our national debt.
With no crystal ball, I cannot prophesy the outcome.
I only know that come this time next month I want to have refinanced my mortgage loan for more money at a lower interest rate.
But I'm not an economist.
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