McCain Financial Crisis Flip Flops – ABC News on
CHARLIE GIBSON: And with apologies for our technical difficulties, we’re going to turn back to the difficult economy, and the way the presidential candidates are dealing with it, particularly John McCain. Here’s David Wright.
DAVID WRIGHT: John McCain was against the government bailout of AIG, before he was reluctantly for it. Here he was yesterday on “Today.”
JOHN MCCAIN: We cannot bail AIG or anybody else. We have to work through it.
WRIGHT: Asked about the same topic today on “Good Morning America” –
MCCAIN: I don’t think anybody I know wanted to do that. But there are literally millions of people whose retirement, whose investments, whose insurance were at risk here. And they were going to have their lives destroyed.
WRIGHT: Senator McCain appears to have changed his tune on regulation in a fundamental way. Today on the stump, he’s a champion of reigning in Wall Street with tough regulations.
MCCAIN: We’re going to put an end to the reckless conduct, corruption and greed that have caused a crisis on Wall Street.
WRIGHT: But for more than 25 years in the Senate, McCain has fashioned himself as a champion of smaller government, less regulation.
MCCAIN: I am less government, less regulation, lower taxes, et cetera.
Duration : 0:2:13
When the dollar collapses in a year, will Democrats finally admit that the stimulus was a bad idea?
Will loyal Democrats finally admit that there are flaws in their understanding of how Economics and monetary policy function?
Will it take a global economic collapse, or are there Democrats out there now who think the Stimulus is a terrible idea?
Last, are there any good reasons that the Democrats in Congress could actually want the global economy to collapse?
Uncle Eccoli-
I will be thrilled to admit that I am wrong if the bailouts and stimulus are a success. If they work out, I will happily add a comment to this question that says “I don’t know my ass from a hole in the ground”. Mark my words.
But if I am right, will you admit the same?
Christina C-
I didn’t agree with the bailouts under Bush, either. This one, on the other hand, has absolutely zero Republican support. Is this what Obama meant by, “Governing from the middle”?
And about racism: Get over it! Nobody cares what color our President is except you!
They don’t believe that. They’re just short-sighted. And the republicans aren’t that much better.
The point of monetary policy should be to soften the swings of economic fluctuation–not just to rev up the economy. But when you do a lot more speeding up the economy than slowing it down, eventual collapse is inevitable. We keep seeing all these stimulus packages. When did we ever see a slow-down package? Never. That’s why we are where we are today.
The problem started under FDR, and actually accelerated under Reagan all the way to Bush, with a slight break under Clinton (which was a period of peace coinciding with a tech bubble–don’t give him credit)
My only amusement in seeing the dollar tank will be seeing China’s sovereign wealth fund tank with it, since they own so much of the debt now.
Categories: monetary collapse Tags: democratic responsibility for debt crisis, U S dollar collapse
Apocalypse? No! – Why there is no Global Warming Crisis
Lord Christopher Monckton was an advisor to Margaret Thatcher & has been following the Global Warming issue with growing concern the facts have not been properly revealed.
This nine minute excerpt of his New DVD gives you some good information to think about
Duration : 0:9:43
Categories: global crisis Tags: analysis, Apocalypse, change, Chris, climate, commentary, Documentary, Global, IPCC, models, Monckton, news, No, sunspots, Warming
Davos Open Forum 2010 – After the Financial Crisis: Consequences and Lessons Learned
http://www.weforum.org 28.01.2010
The financial crisis has caused an economic crisis around the world. Drastic state measures have prevented the collapse of the economic system: governments have established rescue funds for failing banks or nationalized banks for relaunching economic growth. At the same time, central banks have intervened with important injections of liquidity and have lowered interest rates.
What were the causes of the financial crisis?
In the future, how can such crises be prevented?
What effect will state measures have in the long term?
What will a global adjustment of the financial system look like? Who should develop and apply the rules?
This session is co-organized with the Federation of Swiss Protestant Churches (SEK-FEPS).
Ziya Akkurt, Chief Executive Officer and Board Member, Akbank TAS, Turkey
Christine Lagarde, Minister of Economy, Industry and Employment of France; Member of the Foundation Board of the World Economic Forum
Patrick Odier, Chairman, Swiss Bankers Association, Switzerland
Nikolaus Schneider, Vice-Chairperson of the Council, Evangelical Church in Germany, Germany
Juan Somavia, Director-General, International Labour Organization (ILO), Geneva; Global Agenda Council on Employment & Social Protection
Joseph E. Stiglitz, Professor, Columbia University, USA
Moderated by
Stephan Klapproth, Anchor, Ten O’Clock News, Swiss Television SF DRS, Switzerland
Duration : 1:30:46
Categories: financial crisis Tags: 2010, analysis, Annual, Christine Lagarde, commentary, davos, Davos10, Economic, forum, Joseph E. Stiglitz, Juan Somavia, Meeting, news, Nikolaus Schneider, Open, Patrick Odier, Stephan Klapproth, WEF, world
CNBC – Dollar Will be Utterly Destroyed, Global Currency, New World Order
Friday, 6 Nov 2009 – The dollar will get “utterly destroyed” and become “virtually worthless”, said Damon Vickers, chief investment officer of Nine Points Capital Partners. Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis.
“If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that,” he said.
For those who have claimed this is a fake clip I suggest you visit CNBC’s website:
http://www.cnbc.com/id/33709379
http://www.infowars.com
Duration : 0:3:52
Categories: global crisis Tags: Asia, be, Box, cnbc, com, currency, Damon, Destroyed, Dollar, General, Global, government, new, news, order, Squawk, story, Strategist, Utterly, Vickers, Will, world
What personal worries do you have about the financial crisis, and where do you go for answers?
I am trying to understand the impact about the financial crisis on everyday people like us. I am talking to a lot of people, and most of us seemed totally confused. As such, would like to find out what personal worries you have, and where you go to find answers. Would be great if you specify your location and profession too!
So broke right now, I have a masters and can’t find a good job. I’m working two restaurant jobs right now, trying to get hired at a college but don’t know how that will turn out. No health insurance and can barely afford rent, live in Texas Panhandle.
I wonder why they don’t make the CEOs who made and allowed bad investment choices to be made, make them pay back from their own billion dollar paychecks, and solve the financial crisis that way.
Categories: financial crisis Tags:
