Dow Recovery! Soon To Be Another Dow Flop!
November 12, 2008
Dow Wow! Up and Down Like a YoYo! Are You A Bear or a Bull? Choose your side. Oh yeah Shorting is Restricted Now. Better Start Building That Second Income Now!! This Is On Everyones Mind YouGetVeryRich
the Bernie Sanders Amendment: Make Wall Street Pay for Bailout
November 12, 2008
An amendment by Senator Bernie Sanders (I-Vt.) to impose a surtax on the wealthiest Americans to pay for a $700 billion emergency bailout.Having mismanaged the economy for eight years while continually insisting that the fundamentals of our economy are strong, the Bush administration now wants the middle class of this country to bail out Wall Street, Sanders said. Meanwhile the wealthiest people, those who have benefited most from Bushs policies and are in the best position to pay, are being asked for no sacrifice at all. This is absurd.consider the Sanders Amendment to raise $300 billion from a five-year, 10 percent surtax on couples with incomes of more than $1 million and individuals earning $500,000. It is the only amendment being offered to the bill.Vermonters and people across America are saying very clearly that this bailout is a bad idea and that the struggling middle class should not have to pay for the greed and excesses of Wall Street. I have received hundreds of calls and more than 2,000 e-mails from Vermonters, almost all of them against this plan. More than 47,000 people all over the country have joined me in signing a letter to Treasury Secretary Paulson opposing any bailout paid for by the middle class, Sanders said. While the Bush administration has quickly rallied to help Wall Street, it has ignored the needs of the declining middle class. Since President Bush has been in office the wealthiest people in this country have made out like bandits and have not had it so good since the 1920s. The top 0.1 percent now earn more income than the bottom 50 percent of Americans and the top one percent own more wealth than the bottom 90 percent. Incredibly, the richest 400 people in our country saw their wealth increase by $670 billion during the Bush presidency.Sanders also has said that any effective program to help the economy also should re-regulate the financial services industry, include an economic recovery program to put Americans to work at decent wages, and break up huge companies so that there is no longer anything that is too big to fail.To read the Sanders amendment, sanders.senate.gov/files/MAT08468_xml.pdf
Nationalisation of Banks: credit crunch, global economic crisis. Government capital for banking shares. Future economy and banking - conference keynote speaker Patrick Dixon
November 12, 2008
globalchange. Nationalisation of banks Europe, UK, US government action to take shares in exchange for injection of capital. Impact of credit crunch and banking share price collapse. Future trends in banking and financial services? Risk of global economic meltdown - how market fear and greed creates chaos. Many risks of further price falls, when market traders driven by fear and uncertainty. Why markets over-react. Restoring investor confidence and trust, taking advantage of new investment opportunities. Taking long term investor view. Restoring stability to global markets. Recession and depression lessons from history. Sub-prime crisis and fear of unknown liabilities. Inter-bank lending may take a long time to recover even with huge government bailouts, injection of liquidity, partial nationalisation of banks (capitalisation). The sharper the recession and market collapse, the stronger the measures that will be taken (eg cutting interest rates) and more likely it is that when economic recovery comes, it could lead to another big cycle of boom and bust. Comment by Futurist keynote conference speaker Patrick Dixon.