Good ole USA

jedard

Active Member
#1
Todays news is really old news. The mighty USA is about to fall from its
throne. Much is being written here in this forum and in the media as to whom is to blame. The Democrats, Republcans, Bush, Corporative Powers and
the list goes on. For this writer who once lived in America I see this financial nightmare as the result of a government who
educated and trained elite personnel to take advantage of every situation that
they have instigated in many of the 3rd world countries, and now the greedy
piranhanas have finally decided to feed on their own country. This is
their legacy and they deserve all of it. We should not blame Mr. Bush as this
sick ideolgy started long before his time, as far back as 1950.

Now it has expanded to the Homeland as they like to be known. Mr. Bush
continues to instill panic within his domain just as he did not long
ago with the decision to invade Iraq and install his own form of American democracy. It was then all about money, and this scenario is no
different. Congress will authorize this bailout, make no mistake about that. Is
this a super sub-prime crisis? Will this happen again down the road? Can this
fatal decision send a signal to foreign lenders that almighty America is
serious about its fiscal future? I do not think so. There is no secret
that it was foreign governments intervention forcing Mr. Bush and his 3 stooges
) Bernanke, Cox, Paulson) to bail out Fannie Mae and his brother Freddie
Mac. All of this makes one want to point to the USA heading directly to a
third world debt status, similar to the many 3rd world countries the USA forced
into.

The housing markets have been driven down so quickly that the Feds cannot
keep up with the frenzy. Existing home sales fell another 2% in August with sales of
previously owned homes down 10%. The medium price for such a home fell again in
August to $203,100,more than 20 grand less than a year ago. And you can believe
it will fall even further.

The greenback which has been acting so strangely amidst all this
turmoil is headed for a tailspin. Traders have been busy manipulating this part
of the market and sending a false pulse to the not so bright investor.They
have been busy taking profits on the booming currencies overseas and this has buoyed
up the greenback. It is heading right for the doghouse where it belongs with
the dollar index slipping to 76.5. And how's this for good fiscal housekeeping:

According to the
Treasury, 3.6 Billion pennies, ( THAT'S RIGHT, PENNIES) have been minted so far
this year, $36 MILLION THAT COST $50 MILLION TO MINT! Now how bright is that?
They should come over here and see how wonderful it is to live without those
dreaded pennies. Someone made a killing. Perhaps in the copper market, oh yes,
forgot they buy the copper from Bolivia for a peso and sell it for 100
pesos.

Here
some more good news for the American public at home or abroad. The U.S. Congress has decided to allow
a ban on offshore drilling to expire. Thus ends a
quarter-century ban. The Interior Dept. recently estimated that there are up to
18 million barrels of recoverable oil in U.S. coastal waters.GRRRRRRRRReat!

Now all they have to do is spend billions on under-investment in off-shore tech, some more education for those scientists, and of course find the oil, which is all right there under someones nose, right on? Then they have to get it to market. You guessed it again, all of this making
for a surefire investment opportunity for someone, eh?

But there is on clear agreement we have to accept concerning the credit
crisis that was perpetrated against the American Public, and that is, " there is
no agreement over how to fix these problems they now face." Neither the plan
of the 3 stooges nor that of the Congress will resolve this
pile of dung.

However I could be wrong.Warren Buffet seems to have taken his own
advice, " be greedy while others are fearful." He has invested 5 billion in
Goldman Sachs Group. thus bolstering the investor confidence in the Homeland
banking system.

I have said it before, if any one with money wants to jump on the bandwagon
and make some more. Look to the China market, because the American Market is
now owned and regulate by GWB.

That's all folks. Remember this is a topic based on freedom of speech.
 
#2
I'm sure you will get plenty of responses on this. Are you in Argentina? What's your take on the situation there. will this cause problems there as well?
 
#3
Gotta agree with most of it jedard. It's really all based on GREED and the lack of tight regulations - a perfect set up for GWB to spread his destructive ways like a cancer or virus. Let's hope he doesn't declare Marshall Law on 01/20/09 - I never thought it to be possible but now I'm not sure anymore........

China? No can do, their poison milk and lead painted toys are just beyond horrible - there's other places.......
 

jedard

Active Member
#4
I am one of the very few who puts his origin and where I am presently living at the bottom of my posts. Argentina is a great place to live, but one must be careful with how you look after your finances, especially after 2001. This country is facing a severe financial crisis today as a result of the 2001 decision to default on 100 billion dollars. However a lot of traders and others had purchased guaranteed bonds from Argentina back then. The then Pres, now his wife is Pres, made a deal with them, giving them 34 cents on every dollar, 74 accepted the rotten deal as it was presented to them, take it or leave it, something like the present Pres seems to be operating on. However 33 of them declined and sued in the Courts back in the USA and in the world courts. They were successful but Since much of this country's so called wealth stayed here, they could not get their hands on it. The did take every penny that Argentina had in the banks Stateside. This action by Argentina has prevented them from arranging cash from outside the country and lately the Pres has been paying off some debts, the Paris Club for one. Of course this dealt a severe blow to the cash on hand so she went to New York to try alternate means. It appears that 3 unnamed banks might be interested in supporting her. However those who refused to accept the deal back in 2001 prevents this country from playing in the bond market. They have refused a new offer from her, subject to the Congress approving any deal and will continue to sue in the courts. So you see, that is why Argentina has been relying on Capital by issuing Bonds locally and to the Pres in Venezuela at unheard of interest rates of 15%. Chavez is I am sure very happy with his deal with her. So I predict in the next year or so, mas or menos, this country will have another financial crisis, don't put any money in any bank here for that reason.Other than that I love it here and if one can put up with the inane justice system, it is a great country to live in and explore. As for China, regardless of what the milk or tainted toys may have done, the place to buy is in that market. It will be the fastest, largest market ever to invest in. And it does not matter too much what one chooses, as the population there will support the choices one makes. Well nuff said I must run off to Cordoba and see about another matter. Oh yes, the medical system here is fantastic, cheap and very professional if you go to a private hospital. I had a spinal operation on my back and it cost me only 60.00 dollars per month for my insurance. This same operation back in Florida would have cost 150,000 us dollars. And if I had insurance, once they paid for it, I would have had my insurance canceled for some reason that would not make any sense. I will continue to post some interesting items in the days that follow.



"Stanexpat" said:
I'm sure you will get plenty of responses on this. Are you in Argentina? What's your take on the situation there. will this cause problems there as well?
 
#5
I would agree with you on your take of Argentina. Also I agree the health care you get there is quite good assuming you can afford a good plan(unfortunately a lot of Argentines cann't). The wife had major surgery there and we were very pleased with the doctors, hospital, etc. Services there generally aren't as good as in the states but healthcare is an exception. Not sure why this is, perhaps the government has left this more or less alone.
 
#6
"Stanexpat" said:
I would agree with you on your take of Argentina. Also I agree the health care you get there is quite good assuming you can afford a good plan(unfortunately a lot of Argentines cann't). The wife had major surgery there and we were very pleased with the doctors, hospital, etc. Services there generally aren't as good as in the states but healthcare is an exception. Not sure why this is, perhaps the government has left this more or less alone.
I would guess the lack of mal practice lawsuits and greed in the medical field is responsible for a good health care program.
 
Top