Truemors
Opinion SL: Where is the money? Cash conflict
The Republicans
The Neocon Republican division presenting the illusion, government could end the crisis without taxpayers' money at risk. Their alternative plan stipulates that the government provides guarantees to enable the banks to insure the "safety of credits". It means only that the taxpayer must pay later, then in fact, if the guarantees are utilized.
The Republicans want simply to shift the credit burdens in the future generation.Candidate McCain thinks to improve War Veterans situation, OK. But first he has to stop the costs of war, the real cause of Wall street trouble, not able to refinance war. Why not invading the Cayman Islands, "money strikes first", and bring the offshore hedge fund money back to the US. Military economy do your job. Hedge fund criminals sent to Guantanamo bay money fraud detention camp, for terrorising world money and causing losses against US citizens and world citizens. Military secured Mil-Dollars replacing the soon worthless Civil dollar. God bye "Argentina" economy.
The Democrats
Obama more a structured laywer, not shooting from the Hip, like McCain. The problem he faces, Kennedy approach yes, but White house for white only ? Obama first the Baby of Hedge funds NY. Now he must find the money to finance Healthcare, homes, Innovation. Can he really end the war in Irak, or is he just forced to shift war to Afghanistan Pakistan. The US military Industry lobby controls the country, not the president. Their orders have to fill the books. Soon new chances with the russians back in race; squeezing The US from Venezuela and Alaska and Mil-Space 2020.
Obama will have to initialise a big government driven economy stimulation package. Will it work?America today a fear driven closed country, no brains to start business, coming in. The world has moved on. The crisis will touch India-China Europe Brazil Africa with 30 - 40 %. The US would face under Obama the better more symphatic leader, young enough to fight a Ten years march through US crisis. Will the Americans go with him, the new Game boy generation living paralized in the glory of the past, is not ready for action. Many US cities with first black population forced out of homes will face total crime gang wars. The troops coming home, no jobs. Will the black population trust the White color worker Obama?
Bush economy Candidates agree
Obama landed the first blow, saying the credit crunch followed "eight years of failed economic policies promoted by George Bush, supported by Senator McCain, based on a theory that basically says we can shred regulations... and give more and more to the most, and somehow prosperity will trickle down."It hasn't worked," said McCain.
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Thing to do, not discussed
Day by Day moneytalk background information
$10, 000 Billons needed for consolidating 150 US Banks, 700 Billion represent 10%,
WaMU Washinton Mutual collapsed with $17bn withdrawn, 150 banks face same trouble
Bank consolidating: $ 10, 000 Billion
150 banks in trouble
Auto-makers: $450 Billion
GM,Ford, chrysler
Economy explainer:
Auto-makers Big 3
GM, Ford, Chrysler passed the first step, to receive $25 bn, next $25bn under
negotiations.
1) Auto makers "government bailout loans" $ 50bn
Revolging Loans from Banks agreed before credit crisis, short term cash for
GM, Goodyear.... estimated $250bn; most of the banks exist not any more to give the
money. Focus on JPMorgan, where should they find the money, don't have it.
2) Auto-makers Revolving loans $250 bn
The finance Arm of the Auto-makers GMAC is in front of bancruptcy. Why? This was
no financing of cars, this was outsourcing of price correction in the form: $2500
cashback at buy. Now the ten years cashback backfires. Who shoulf buy american cars on
Cash, if Financing arm let down?
3) Auto-makers Car financing needs $100 bn
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1) $50bn Bail-out loans
2) $250bn Revolving credit loans
3) $150bn Car Financing
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Total $450bn Auto-maker package
(not included in $700bn bailout)
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