Tag Archives: housing

Geroge Bush blames the financial crisis substaintial foreign investment and a subsequent increase on bad consumer credit from greedy Wall Street bankers


 

 

President George Bush

President George Bush

A state of the afairs to squash fears amongst citizens in the United States of Amerca is sure to send ripple affects around the world; as we are all intertwined in this financial mess. President George Bush tonight spoke directly to U.S citizens, and candidly explained the situation in America. 

 

  • Housing prices that were valued more than they were actually worth
  • Banks that borrowed too much money
  • The decline in the housing market
  • Securities became unreliable leaving companies stuck with unsellable products
  • Banks began holding on to their money and dening credit to the everyday American citizen

President Bush said that the “irresponsible actions of some…bad decisions” is causing “the market is not functioning properly”. He warned that if action is held up by congress “the stock market could drop even more”. We could end up with “more expensive for credit, even with good credit history”. However he was optimistic and said that there is a spirit of cooperation betweens Democrates and Republicans. This bill will commit a large amount of tax payers money. But given the situtation, if the bill is not passed, it will cost more later for the American economy and the world. His key points to the ballout was to (1) remove risk possed by mortgage back securities, (2) protect tax payers and (3) ensure that there will be no winfall for “Wall Street” executives.

     

George Bush beleives that the plan will solve the financial problem and allow the “flow of credit” to Americans. He beleives that the vast majority of Americians will pay off their mortgages. But what does this mean for the future of America? The first part is to safeguard the financial system. He promised that every savings account will continue to be insured for up to $100, 000. In addition, he said that the laws governing the American financial system are outdated; needing change and modernization. The government should be able to observe, control and ensure that “Wall Street” will never put the system or the American people at risk again. He still beleives that the democratic financial system is the best system one available. His final quote stated that “together we will show the world what kind of country America is”. The world will definately wonder! The question you may ask, if it is the best system, than what makes the U.S different than any other socialist system now that they are essentially owning these companies? Is the problem with America greed? Did they simply learn from history and the depression and wanted to make sure to avoid a global depression?

 

American Wall Street Greed

American Wall Street Greed

One has to wonder, although America is only a portion of the worlds population, they consume the largest amount per-capita basis. Is America’s excess caused by world greed and foreign investment? Is it time for America to learn to live with less? Or is it time for America to embrace a more socialist style of financial system? Has republican or conservative styled economics failed? Or are Western societies just too credit happy, beleiving that they “deserve” to have all of the luxuries of life? Will we ever learn?

 

By Andy MJ
a.k.a. The G.T.A Patriot

Is change in the air for Canada? Is it time for Prime Minister Jack Layton or a new voice for an opposition leader?


Prime Minister Jack Layton?

Prime Minister Jack Layton?

With Liberal leader Dion faltering and lagging behind Jack Layton in the polls, one has to wonder if change is in the air? We are already seeing old Liberal tactics; telling people not to split the vote, and cause a majority Conservative government. One has to ask, if this is the ONLY tactic they have to remain as the official opposition than maybe it is time for change? The Liberals are getting old and there is a sense amongst voters that it is “time for change” in Canada. Elizabeth May was seen as a possible alternative, however there is the feeling that they are in league with the Liberals, tainting the green image. Who knows what will happen on October the 14th, but one thing is clear, change is in the air. I am not sure if Canada is really ready to have an NDP government in Canada. The experience in Ontario maybe scaring individual voters, however I guess it does not matter since Bob Rae is now a Liberal? Maybe Bob Rae was never truly an NDP backer and we have never really seen what an NDP government can do. The question is, can Jack Layton deliver? Is it time for change? Is it time to for the new world of NDP Orange? Is it time for Prime Minister Jack Layton?

By: Andy MJ / a.k.a The G.T.A Patriot


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Read more about the NDP Party of Canada below.

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Through three decades of public service, and as Leader of Canada’s New Democrats since 2003, Jack Layton is delivering the kind of change that can make life better for you and your family.

Months after taking his place in Parliament, Jack Layton successfully rewrote the 2005 federal budget. In place of $4.6-billion in corporate tax giveaways, Layton secured investments in better priorities—affordable housing, training, public transit, energy efficiency, development assistance and wage protection.

At last: this was policy from the kitchen table, not the boardroom table, and ordinary Canadians responded.

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