Post Scripts

2nd best day ever. Jittery consumers and plunging home prices weren’t enough to keep the stock market in check. In fact, it soared despite them Tuesday as investors bet that share prices have been adequately slashed to reflect such dangers.

The Dow Jones Industrial Average leapt 889.35 points, or 10.9%, to 9065.12, aided by gains in all 30 of its components. The rally was its second-best this month, behind only the 936-point leap on Oct. 13 to break a painful eight-day losing streak.

EDITORS NOTE: The market is adjusted for risk and that’s great, but is anyone willing to stay in the market long enough to force a trend reversal that would give us a bear market rally?

submitted Anonymously..

Just wanted to point out that not only did Reagan raise taxes during a recession, but Bill Clinton raised taxes in 1993 a year after his election. We were mired in the worst recession since the depression at the time. Not one GOP Congressman or Senator voted for Clintons tax raise at the time and they all claimed it would ruin the economy, the same as now.

Well, as you know, Bill raised taxes and we saw the greatest growth in our history along with record surpluses that will probably never be equaled. Under Reagan we saw the beginning of the deregulation era that brought us the savings and loan crisis, the Enron debacle and this current banking crisis that we find ourselves in today. When Reagan took office in 1980 our total debt was under 1 trillion dollars. Today it is 11 trillion and we had surpluses under Clinton. So under Reagan, Bush 1 and Bush 2 we increased our national debt from 1 trillion to 11 trillion.

Its time that everybody realized that Milton Friedman and Reaganomics is a totally failed policy and until we do realize it, we are doomed to keep repeating it. Its remarkable that more so called experts have not addressed the failed deregulation policies of the GOP as the main contributor to this collapse of our banking system..

From the WSJ…

“To alleviate the obvious hardships to both homeowners and banks, the government commits to buy mortgages and inject capital into banks, which on the face of it seems like a very nice thing to do. But unfortunately in this world there is no tooth fairy. And the government doesn’t create anything; it just redistributes. Whenever the government bails someone out of trouble, they always put someone into trouble, plus of course a toll for the troll. Every $100 billion in bailout requires at least $130 billion in taxes, where the $30 billion extra is the cost of getting government involved.

If you don’t believe me, just watch how Congress and Barney Frank run the banks. If you thought they did a bad job running the post office, Amtrak, Fannie Mae, Freddie Mac and the military, just wait till you see what they’ll do with Wall Street.

Some 14 months ago, the projected deficit for the 2008 fiscal year was about 0.6% of GDP. With the $170 billion stimulus package last March, the add-ons to housing and agriculture bills, and the slowdown in tax receipts, the deficit for 2008 actually came in at 3.2% of GDP, with the 2009 deficit projected at 3.8% of GDP. And this is just the beginning.”

by Faviola G.

I too will vote for Barack Obama and I think you are a hartless stuped swine. You will pay when Obama gets elected you you stuped rich pigs and all your fancy things we hate you! We will take back that which you have stolen from the poor people. We have been down too long and now its our time to rule america and you fat rich wont like it and I say oh too bad get over it. Obama will win. Your rich plunder made on the backs of the poor people belong to the poor people not you.

Editor’s note: I doubt if Faviola would bother to have a conversation to explain to our readers how people she/he calls “stupid rich pigs” have “stolen from poor people” or what exactly “rule america” means but I invite her/him to do so.

Last time I looked we were still electing representatives, not kings and queens with the power to “make people PAY.

Anon. contribution…

Yesterday on my way to lunch I passed a homeless guy with a sign that read ‘Vote Obama, I need the money.’

Once in the restaurant my server had on a ‘Obama 08’ tie, I chuckled at his political preference as I imagined the coincidence.

Continue reading “REDISTRIBUTION OF THE WEALTH” »

Editorial by Harold Ey (Chico businessman)

What Chico really needs now is an insightful city government. Currently we just have a cobbled group of people with individual concepts of what they consider right. They (the majority) rule through dominance and bullying into submission any idea that doesnt serve their voting base. We have a Mayor that ran on the idea that he could/would govern with consensus, but what he did not explain was all the concessions were to come from the opposition solely. That does not serve the interests of all of Chico.

Continue reading “EDITORIAL – CHICO GOVERNMENT” »

Are You Ready for a New Bill of Rights?

Posted by Tina

Hear the audio onYouTube

Excerpts from the transcript on 2001 WBEZ Chicago radio interview with Barack Obama:

* If you look at the victories and failures of the civil rights movement and its litigation strategy in the court. I think where it succeeded was to invest formal rights in previously dispossessed people, so that now I would have the right to vote. I would now be able to sit at the lunch counter and order as long as I could pay for it Id be o.k. But, the
Continue reading “<font color=black>Obamas Redistribution Policy Spread the Wealth Around</font>” »