Friday, February 27, 2009
Citibank has made agreement with the US government at 40% percent stake. Ben Bernanke, Fed Chairman, is quoted as saying this is not nationalization of the bank. Nationalization is when the goverment seizes the bank and therein zeros out the shareholders. The US will hold a 40% interest in the bank as shareholder. These will be voting stocks and allows the government to hold more control in the operations of the bank. . . . . .I actually think this is a fantastic test model to see what happens. If the government exchanges preferred stock for common stock, they gain voting rights, but fall victim to loss of share price as the market creeps lower. The good news is stock prices are already low, hence the likelihood of making a heavy profit is increased. This is true when you figure we are doling out money to banks and have been taking no voting rights in the operations of these banks. I think this is a sound test and one which could prove to be very lucrative as the end of the recession comes. Once again, I am proud to say "I supported and support Prsident BH Obama." Find me also at www.myspace.com/alansimmons3 .
Thursday, February 26, 2009
Obama was eloquent, relevant, on point, educational, thought provoking and full of substance. For example, he got massive applause for saying we should not leave a deficit for our children to repay. He then suggested we work hard to repay our recession debt once the crisis is over. Obama pointed out the fact we need to prepare our citizens through education. One of his most memorable statements to me was when he said that there is no more room for dropping out of school because we need everyone to grow our nation. Obama herein equated lack of education with lack of patriotism. He said that the imagination of our entrepreneurs are the backbone of our economy. Obama reminded us that our economy has not failed overnight, and yet we managed to not seek answers until the problem became dire. He said now that we are here, we must do what needs to be done regardless of cost and then work to reduce the deficit we inflict upon ourselves. Obama pointed out if we don't restart lending in this country, we stop any growth in the economy. Banks are now fearful to lend. People are fearful of buying large ticket items like cars, land, homes, and education loans. He announced a plan to help home buyers who face losing their homes. Obama announced tax cuts are beginning in April on workers' pay stubs. He announced the plan to retract the Bush tax cuts to the top 2 percent of Americans to help spurn more income through taxes to government. See where recovery money is spent from this plan at www.recovery.gov to make government spending transparent. In a time of crisis, we cannot afford to govern out of bitterness or anger, he stated in response to Bush and Banks' bad choices. Obama says this is not about helping banks, but helping individuals and families. Slowly but surely confidence will return he says if we just do what needs to be done. He plans to reform the regulatory system in America to assure this kind of crisis does not happen again. We need to invest in new jobs, education, health care, schools, our roads, energy, technology, etc. Obama admits this budget does not seek to cover every situation that may occur. But, we cannot sit and wait because that is how we got here. We must cut back on programs we do not need, and support those we do need. Obama said we need to stop supporting Cold War era defense systems and only pay for newer technologies that keep us strong. He addressed Medicare and Social Security reforms. Obama is seeking ways to end our involvement in Iraq and effectively end this war. He is also seeking ways to strengthen troop involvements in Afghanistan to end the war there soon as well. He sent message to the troops that they have our/his unyielding support. He announces a raise in troop pay and increase benefits to our veterans. He then mentioned strengthening old alliances and creating new ones amongst the world's nations. He mentioned that the eyes of the nations are again on America, waiting to see what we do. President Obama emphasizes we must ALL work together to make it through these tough times. You can find find this speech in full at www.youtube.com as Obama Speech to congress Part 1/6 to 6/6. You can find me at www.myspace.com/alansimmons3 and at http://www.facebook.com/home.php?ref=home#/profile.php?id=1553229531&ref=profile. Friend me and leave comments there as well as here.
Tuesday, February 24, 2009
President Obama inherit ted a terrible financial fiasco when he became president in January, 2009. It appears he is going to run the national deficit high to try and outpace the decline of our economy, then seek to reduce the deficit a few years later. This is a sound model which FDR set in motion so many years ago when the stock market crashed sending America into a Depression. FDR set a kind of socialism into play that lasted in part even to now, but Republican influence has sought to rescind much of the good FDR had done for this country. Reagan began with his deregulation of business and major tax cuts. Bush 41 followed the new "trickle-down" theory and continued to minimise social programs. Clinton cut major social programs like welfare. Then, the nightmare of W's 8 years of reign....and look where misplaced cuts have gotten us. So, Obama steps into a real mess with a desire to lead as a man who wants to work alongside everyone...democrat, republican, and independent. However, his good natured plan has been thwarted at every pass by the republicans in Congress to the largest degree. Can these people never take the time to step back and realise that old ways are not always the best or needed things for the present and future? We don't often think deeply enough about it to realise we have socialism within our country already and it works pretty well insofar as allowed...the police, firefighters, highway works programs. Yet, all we hear from the conservatives is that Obama is going to turn this place into a socialist country. My question to you, dear reader, is ... why is socialism a bad word to us? Is it because for years now we have been indoctrinated to believe it to be so? Have you really even considered what it means? Think about it. Is it bad to desire all Americans the privilege of health care? Would it be so bad to have a national banking system? National communications system? National transportation system? A national retirement system
? National energy systems? Really friends, what is the down side to "Democratic Socialism?" Many other countries of the world now function quite well under this type of socialism mixed with capitalism. Why is it taboo here? Seeking your replies in earnest. Alan
Monday, February 23, 2009
My name is Alan. I am a trucker in Houston, Texas with too much time on his hands. I love listening to my Sirius sattellite radio. With 500 miles a night to drive and 12 hours to kill, my mind often wanders and wonders. Well, here is one thing I wanted to set as a goal, coming true. We'll ponder all kinds of things from politics, to issues concerning freedom, the ACLU, Human Rights Campaign, gay community topics, AIDS research, the homeless and tons of other stuff. Make suggestions and I'll see if we can't discuss them... Find me on myspace.com/alansimmons3 and on facebook.com and befriend me at both. I have a background in biblical studies, but will seldom walk that road of thought, sociological and psychological interests, and love to ponder philosophy. I have an extreme interest in why people do and say the things they do. What makes us tick. So, join up and pull up a chair and let's ponder and wonder together. More in the days to come.