Comments on: Thankful For Problems That Can Be Fixed

By: TheLurkingMod

TheLurkingMod — Fri, 28 Nov 2008 05:47:41 +0000

Thanks for your comment.
Just so you know, we want to keep the number of links to external sources, like TV1, limited to one per day, And especially in the same post.
Thanks.

By: buygreen

buygreen — Fri, 28 Nov 2008 05:35:48 +0000

I find it hard to see how exactly these top execs will feel the pain of your average American. I have to say that, compared to other countries, we are blessed. However, the top execs in this country (and I’m especially pointing fingers at the auto big 3 execs) are already padding their falls. They are asking the US Government (which really means us, the taxpayers) to bail them out even though they are keeping their private jet fleets, golden parachutes and their year end bonuses (because they deserve them, of course).

Happy Thanksgiving, America! I’m thankful we might be able to get out of this mess.

——————————-
Bailout Bums: Stealing YOUR Money: http://tv1.com/playlists/80

By: PJEvans

PJEvans — Fri, 28 Nov 2008 01:28:35 +0000

We can be thankful that whatever surprise Bush and Cheney were planning to use before the election didn’t happen as planned.
We can be thankful for the election not being stolen this time.
We can be thankful that the next US president doesn’t sound (or act) like he flunked out of South Podunk Continuation school.

By: muleboy303

muleboy303 — Fri, 28 Nov 2008 00:03:45 +0000

i guess it depends on the definition of “fixed”
i’d argue that as a going concern, Peak U.S.A. was in 1956 and that no amount of effort could bring it back to there, let alone 1971. but maybe, just maybe, with enough smart and hard work, and a lot of luck, 1986.

By: neurophius

neurophius — Fri, 28 Nov 2008 00:02:38 +0000

“Without struggle, there can be no progress.”
- Frederick Douglass, Aug. 4th, 1857

By: acquarius74

acquarius74 — Thu, 27 Nov 2008 23:52:47 +0000

Thank you, Ian. You have managed to shine the light on the ugly rot, yet finish with encouragement. I always look forward to your view of our daily dose of news.

As things are proving out, it appears that wall street should have been allowed to crash. They have used the money to help no one but themselves. I’ve read differing reports that some of these banks alone own as much as $50 Trillion in these toxic assets. Mad Ben can’t print enough money to bail them out. The crash will ultimately have to come. IMHO.

Is there any reports of the melt-down’s effect on the 17 branches of Goldman Sachs located in the Caymen Islands? Is that the home of Hank’s millions?

By: JaneaneTheAcerbicGoblin

JaneaneTheAcerbicGoblin — Thu, 27 Nov 2008 23:48:21 +0000

We have a lot to be thankful for this Thanksgiving…

1. President Elect Obama won convincingly
2. President Elect Obama won convincingly
3. Bush will be out in less than 2 months (he’s kind of “out of it” now)
4. This meltdown happened in 2008, not 2007, which would have been even
more catastrophic
5. Chinese Democracy finally got released, and it’s a great album
6. Bob Dylan’s new bootleg series is awesome
7. The bloggosphere is an excellent counterpoint to the ass kissing MSM and their GOP boyfriends
8. Despite the MSM’s best efforts to hurt the Dems’ chances (Mark Halerpin is full of shit on this one), the GOP still lost and lost badly.

By: perris

perris — Thu, 27 Nov 2008 23:43:48 +0000

nice post ian

Actions like nationalizing key banks, reintroducing steep progressive taxation, putting taxes on securities transactions, setting a floor under the housing market, getting rid of underperforming executives and so on are all very painful to America’s elites. But they are available and they can be done. All it takes is the will to do them.

you left out a big one;

tariff products that enter this country for origins that don’t pay a living wage, don’t allow collective bargaining for their workforce and don’t clean up the mess their industry creates

that is huge

By: Ian Welsh

Ian Welsh — Thu, 27 Nov 2008 23:40:37 +0000

Ah, we already had our thanksgiving. Just an ordinary day for me, mostly. :) But I hope all my American readers are having a great old day.

By: T-Bear

T-Bear — Thu, 27 Nov 2008 23:35:29 +0000

Without pain, there is no warning of injury. Without warning of injury, no care is taken to tend the trauma. Without the trauma being cleaned and properly cared for, the body cannot heal and the wound becomes dangerously infected. Once gangrene sets in, the limb is lost. This is the way of leprosy, this is the way of economic and social man. For the want of a limb, the life is lost. Does no one recall the loss of a nail metaphor? Did it mean anything?

It may be too late in the day to prevent this economic house of cards from imploding. There are no reserves left with which to reconstruct a viable economy. Without a viable economy, even the greatest wealth will be destroyed. It may be the only way to reach those controlling those sources of national economic production. It is dangerous to continue to leave in their hands those economic resources. Leave them the wealth they have accumulated, tax it reasonably upon the transfer at death, ten generations should not be a bother upon the public to accommodate, the likeliness the family would survive that time is slim for the larger of the accumulations, but fail not to decouple that wealth from the economic means of production that created it.

If a segment of economic production is a natural monopoly, e.g. communications, keep it so, under public ownership restrained to provide a modest growth in returns, and a safe haven for the investment of savings, and a viable research and development program for technological advancement, nothing more. Those industries that are controlled by two or more corporations, or if in the future any corporation gains more than 10% of a market, they become publicly owned entities, their owners are bought out and the corporation becomes an engine to provide for the public good, and a depository of public and private savings.

The great danger that arises with crises is the appearance of demagogues roaring sweet sounding nostrums to the ill-informed and gullible, motivated by political ambitions or greed. Only adequate education can stand as a barrier to the sirens metaphoric trance of the demagogue. Cassandra’s visions will go unheeded.