“Old Man Depression” Durge

October 11, 2008

Woohoo! The Republican party who so often credits itself for defeating Communism, has now defeated capitalism! Leave them in power much longer and they might kill the inevitable barter system that will have to take capitalism’s place.

Woolsey finally succumbed to pressure and voted “Yes” last week to pass the $700 Billion dollar bailout. I can’t really hold it against her because my candidate, Obama voted for it too. Unfortunately, it seems that I was right that the bailout is not going to prevent the economic pain to come. I have been telling friends and family that the stock market will go down into the 9k range by Christmas, but Christmas came early as it just hit ~~9,975.17~~, ~~9435.23~~, ~~9100.00~~, ~~8954.17~~, ~~8524.24~~, 8451.17. Expectations are such that a drop of 128 points is bullish. Crazy!

When will we learn that booms come with busts, and learn to be happy with steady, moderate gains within a framework of a sustainable economy? It boggles me that the real estate bubble was possible so soon after the Internet Boom and Bust. I have my PETS.COM puppet to always remind me how fragile bubbles can be.

It is just rich that the republicans and those who love them are trying to blame this all on the Clinton Administration and the idea of making home ownership available to minorities who historically have been red-lined. They neglect to tell you that the bulk of the lending and the height of the real estate boom happened in 2005 well into the Bush administration. It is the fault of the lending institutions who crafted the loans and whose responsibility it was to check borrowers ability to pay. It is their responsibility to explain the terms to their customers and work with them to keep up the payments. It was during the republican monopoly over government that warnings popped up about lending practices that went unheeded, because these practices were creating the illusion of a booming economy which was pointed to during the 2004 election. Blaming the victim is so typical of the republicans, but that dog don’t hunt especially when a disgraced CEO can tell a Senate Hearing with a sad sack face that he only walked away with 60 million not 150 million. The American public are the victims, and CEOs, executives, brokers, and republican politicians were the culprits in the largest transfer of wealth in our country’s history. This is economic terrorism on the United States of America and perhaps the world. Al Queda doesn’t have to lift a finger, as these folks did their work for them.

If we as taxpayers are going to be proud owners of worthless paper debt, might I suggest you purchase Marinmaven paraphenalia. Look stylish, at least, while huddled around that heating grate, lining up for that soup kitchen, or get the most comfortable spot on that train car on your hobo adventure.

Obama is our FDR. We need someone to uplift us in these trying times and appeal to our best nature. In troubled times, it can turn ugly and we do not need people like Mccain and Palin who choose to appeal to the worst of American life — racism, hatred, fear, and ignorance. We need Obama’s intellect and even temperament in these complicated and demanding times. If you have not registered to vote, you have until MONDAY, OCTOBER 20TH in Marin County to do so. This is the MOST IMPORTANT ELECTION of our lifetime. We need to see 100% turnout of registered voters and register more people across the country. Obama just has to win. If he does win, I want in on planning the celebration on January 20th, 2009.

CALL 415.499.6456 FOR ELECTION INFORMATION.

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