Once again the motor mouths in the Congress are at it again….first he was a socialist, then a Marxist and now he is a Fascist…..
One of my fav boneheads in the US House of Representatives, Michele Bachmann….she is at it again…as reported in Huffington Post……
“Let’s remember really what this is. This has a lot in common with Italy in the 1930s and they way Italy dealt with economics,” she said. “It still continues private ownership of business but government is in control.”She continued, “So government control of the private business, while it’s private ownership, that’s still at the end of the day the federal government virtually having a say over private business. We lose freedoms; we lose economic competitiveness.”
These are the people that are running this country and yet she sees it is run by a Fascist….if you are one of those who subscribes to her looney tunes then he need professional help…..get it soon.
The economy in the US is going to crap in a hand basket…..we need massive financial reform if we are to ever avoid the same meltdown that was suffered in 2008….the Congress is working on FinReg as we speak…..but there is a slight problem….it is the word “significant”…..one word can bring the whole reform thing to a halt because somebody somewhere wants to turn it into a political game…..this is what we have as far as governance goes….the games people play.
As reported on Newser:
Republicans have found another reason to oppose financial reform: They claim it will impose regulations on dentists, florists, and plenty of other small businesses, all because of a single word: “significantly.” The Senate bill states that the Consumer Protection Agency will only regulate those who provide significant consumer financial products. But it doesn’t define what’s significant, Republicans argue, meaning it could apply to financing small businesses provide their customers. The argument comes straight from a Chamber of Commerce talking point, Politico reveals. Democrats are willing to better define the word—Chris Dodd worked with Olympia Snowe on an amendment that should clear things up—but find the whole kerfuffle disingenuous. “I realize the word ‘significantly’ is what people want to work on, and I am willing to listen,” said Dodd. “But don’t make me debate completely false allegations about what is in the bill.”
The Chamber has become a lobbyists tool in the past decade or so…they do the bidding of every corporation and industry that will pay them the big bucks for their opposition…..they seem to have NO principle other than the opposition to whatever bill that will control the practices of an industry….
It is NOT about protecting the taxpayer and consumer…it is about stopping all reform…it seems everyone is dancing to the beat of the banks…..a casino industry with NO regulations…..gambling with taxpayer money, where they win they keep all the profit and if they lose the taxpayer assumes the responsibility for their loses…..a great way to gamble, too bad you cannot get this deal from the government YOU fund…..
If you do not have a degree in economics or finance and try to listen to the “experts” on TV then you are so confused that you would agree to anything just to get these people to shut the hell up……
For instance, the US gain 290,000 jobs in April but yet the unemployment rate went from 9.7% to 9.9%….if you gain jobs how does the unemployment rate get larger? Easy if you listen to the “experts”……it seems that more people went back to looking for work because the jobs market is looking better……that is the official announcement……but if the people were unemployed in April and are looking for work then they are still unemployed…so how does the rate expand? It is all in the metrics of the science…that would be the science of bullsh*t…….all reporting is that the “real” unemployment rate is more like 15+%….but yet they have come up with a way for the dismal unemployment rate to appear more optimistic……it is all for the investor to get them excited about using their cash……never is it about the true outlook of the recession….
If you feel totally confused, then you are what I call an average person and NONE of the economic reports are for you….NONE of the economic reports take your life into account……..remember….YOU ARE the back bone of this economy and if your life is in recession then the rest of the country is in recession…..the investors and speculators will ALWAYS make their money, whether you are employed or not…
The problem is that they are gambling with YOUR money…the cash of the taxpayers is used in this casino called Wall Street….