Money Beat

Well they won't if we vote for McCain/Palin and another 8 years of what we have.
We did not have this with President Clinton. I know Republicans like to blame him but they have been in charge for 8 years with a REPUBLICAN CONGRESS FOR SIX YEARS so there is no excuse. We have a huge deficit and Pres. Clinton left them with a huge surplus. Wake up everyone!

The Pyramid schemes have collapsed but don`t worry newer versions will be right along.

The root cause of the American financial problems are debt. We allowed to many credit cards to be issued, too many houses were financed on questionable credit, and there was run away government spending.

Honestly, I give the USA less than ten years because of its financial condition.

Proves what I've said for years, "I've never met a really smart banker", and the current fiasco prove it. You would think that the only thing they have to sell is money, they'd get it right. But greed and stupidity always raises its ugley head.

As long as we and our country allow our corporations to displace American workers and send their jobs overseas to India (like Bank of America, Wachovia, Chase, Citi, IBM, etc) our economy will continue to digress. Our jobs are leaving this country and until we do something to stop it, the downward spiral is going to continue!

How many members of congress and the senate looked the other way after they received 'sweetheart' loans from the mortgage company? (And that includes BHO)

What has the do nothing liberal congress done to help? ...NOTHING! Pelosi, Reid, Clinton and the rest of the Dem-wit congress have actually made things worse! It won't get better until McCain and Palin are elected!

The greed in the banking industry is mind boggling and we can look forward to more of it if McCain is put in the White House. Repugs only think about the price of things today and whether they might have to pay some taxes. They do not look to the future to see what their policies will bring to the people.

Wake Up Sheeple! We need a complete new CON Gress - - - None of them care about "We The Middle Class" !

What we definitly need is a profound response to be the utmost holy and obedient to God through Jesus Christ. Once we do this, we can then utilize His Word, the Bible to solve our national debt. God's solution is found in the book of Deuteuronomy 15:1-11. The year of Jubilee! God speaks that after seven years if anyone owes any debt that it should be released. We need to get our government and other governments just to relax the National Debt. Just drop what everyone owes and start all over again. If we want God's blessing on this, we need to accept His Son Jesus as our own personal Savior. We also need to bring God's Salvation Power to Russia, Connunist Korea, and the Middle East. We are not going to get anywhere if a nuclear war should break out. I pray that all will come under repentance unto the knowledge of Jesus Christ. This is really the only way of which we can be truly saved and blessed. God bless America. God bless everyone!!!

What we definitly need is a profound response to be the utmost holy and obedient to God through Jesus Christ. Once we do this, we can then utilize His Word, the Bible to solve our national debt. God's solution is found in the book of Deuteuronomy 15:1-11. The year of Jubilee! God speaks that after seven years if anyone owes any debt that it should be released. We need to get our government and other governments just to relax the National Debt. Just drop what everyone owes and start all over again. If we want God's blessing on this, we need to accept His Son Jesus as our own personal Savior. We also need to bring God's Salvation Power to Russia, Connunist Korea, and the Middle East. We are not going to get anywhere if a nuclear war should break out. I pray that all will come under repentance unto the knowledge of Jesus Christ. This is really the only way of which we can be truly saved and blessed. God bless America. God bless everyone!!!

One thing I have not heard from any financial commentators is the huge bubble of Baby Boomers that may have started selling and downsizing. This is part of the excess inventory and will become larger as more and more Boomers move into retirement age.

This housing problem is not going away soon. Studies I have done show that if the usual one third to one half of retirees downsize, there will not be enough people to buy their higher prices house and if they do sell will consume the smaller size houses that younger buyers usually start with.

American credit card debt has been allowed to run out of control, lenders 2 years ago were making questionable loans, on questionable equity, where was the gov't intervention back then? We are now faced with the hardest task of putting it all back together when it isn't something that can be fixed overnight, or even in a few months. Let's get the election over with, get consumer confidence back, and then..PERHAPS, we will start to slowly turn things around. It took a long time to create the problem, it's gonna take a much longer time to fix it. Hunker down people, the headwind is growing stronger and won't stop until we have some kind of positive signs day after day and month after month in the markets and the press.

If our country would put jobs back in the united states, not overseas, and us Americans stop buying foreign made products, we could turn this whole ecomony around. We can not keep sending jobs over seas...work needs to stay right here in the US..and if it means all Americans boycott all foreign made products, and make our own products here in our own country, we will be giving jobs back to our own who will then spend their money in our country.....

the solution is simple drill and get the price of gas back to 250 a gallon and you will see all things get back online for prices and when the price of gas gets back to 250 all other prices drop and if they dont then we boycott that item i really hope john mccain becomes president to keep us safe and sarah to help save the people of america some money where she can and hope they both get drilling so when we need it we have it why should the people of other countries get oil off of florida coast and we dont get it for ourselves

the solution is simple drill and get the price of gas back to 250 a gallon and you will see all things get back online for prices and when the price of gas gets back to 250 all other prices drop and if they dont then we boycott that item i really hope john mccain becomes president to keep us safe and sarah to help save the people of america some money where she can and hope they both get drilling so when we need it we have it why should the people of other countries get oil off of florida coast and we dont get it for ourselves

The Republicans seem now to be
SCREWING THE RICH AND POOR ALIKE
Four more years of this ....
I don't think so...
The Straight Talk Express should
be called
STRAIGHT TO THE POOR HOUSE EXPRESS~~~

McBush and Friend .. JUST Vote when hell
Freezes Over....

We have reshaped companies so that they make money and not products and now that ploy has destroyed industry and business in this country. Financial people are allowed to buy successful business drive the stock up and rape the pensions and retirement plans; give big bonuses to a few and fold. We no longer have a market for industrial jobs and the rich can live in Greece or other pristine places and watch the U.S.A founder.

deborah--- well the oil companies have massive amounts of oil leases they should drill there first if they find no oil or when it is dry then we give them more. the greedy oil companies just want it all and i guarantee the price of oil will not go down.. my moms oldest brother was the vice president of super america oil company and i asked him he sai dthere is no way gas will ever go below $3 a gallon unless we stop useing it as long as we burn fossil fuel prices will stay high.

You're all a bunch of whiners!!! This recession is all mental!!!

The GOP won't rest until we're all laid off and kicked out of our houses. Free trade ain't the way to go John. We're free traded out here in America

Is Bush Still Claiming a Robust Economy ?

Ed, you are about as dumb as a box of rocks: "What has the do nothing liberal congress done to help? ...NOTHING! Pelosi, Reid, Clinton and the rest of the Dem-wit congress have actually made things worse! It won't get better until McCain and Palin are elected!"

Right, vote the party in AGAIN that gave tax breaks to the rich and allowed all the ENRON-type fiascos because there was a liberal congress that is in bed with the Republicans instead of truly acting as an opposition party. How can you even begin to blame anybody but Bushco and his corporate welfare state? Your tax money went to Halliburton et al, and now you want to blame Dems? Dumb as a box of #^$#@# rocks.

WE, not the government, got ourselves into this mess, and it's sad to see people from both sides of the aisle blaming it on our politicians. WE stretch ourselves too thin financially. WE buy more than we can afford. WE load ourselves with debt. Not because the big bad government lets us, but because most people aren't as sharp as they think they are. It has long been the assumption that houses are "investments", and that the investment will always pay off. That cannot be promised of ANY asset. What happened to buying a house just to live in it? At the rate home prices increased over the last decade, it's no wonder this is happening and no, I don't think it'll end soon, but it kinda serves us right. The banks and realtors and yes, even the government played small parts in manipulating that perception of the invincible investment over time, but WE fell for it. That said, if our government weren't driving us so far into debt as a nation that IN ONE YEAR WE ACCUMULATE ENOUGH INTEREST...YES INTEREST... TO BUY A HOUSE FOR EVERY AMERICAN FAMILY (largely to finance a war for a nation with billions in surplus), they might be in a better position to help struggling families and find a way to re-build industry, ANY industry, in the land of the free and the home of the greedy.

Drill, drill baby drill our way out of this mess? Some people have nearly zero ability to actually think

Also, the "liberal" congress can't even pass ome of the most widely supported bills- SCHIP- with bush in office. How on earth can you expect them to help with this? Aren't "conservatives" all about the freakin market anyway? Load of good that's done-

And I also wanted to say, Bob, very astute observation about the Baby Boomers. That hadn't even occurred to me, but you're absolutely right. Most of them came into their money when there was a more evenly spread base of wealth, so nobody's going to have the upper-middle incomes when they're trying to sell, then there's the whole "jumbo loan" thing...

Bill - I have to agree with your comments. They hope to return the very same party to power that has been at the bottom of our economic problems. By continuing the Bush borrow and spend policies, McCain/Palin create an additional $8.5 trillion dollars in debt. (Owed of course to China, Russia and other fun countries.) They want to blame the "do nothing Congress", for legislation developed by former Senator Phil Gramm who created the language leading to the mortgage crisis and the Enron fiasco. How sad for this country that they actually have a chance to pull this off! No wonder they don't want Gov. Palin to talk in depth about issues.

Okay, I'll admit I voted for GWB. I'm not proud of it, but I did it.
What concerns me now is that this country is at a crossroads, an election that could not be more critical, we have the opportunity to elect this rare once-in-a-lifetime candidate, and we are on the verge of making the same mistake we made in 2000 and 2004.

People, please set aside your partisan biases. Loony lefties and fringe righties alike. Every time this country has reached a dangerous crossroads in the past, we have been led out of the darkness by a president who could not only lead, but inspire. Reagan comes to mind as the most recent. With the cold war threatening civilization, we rose up as a country together as stood behind President Reagan when he said, "Mr. Gorbachev, tear down this wall." I still get goose bumps when I hear this replayed. It stirs my patriotism, invigorates my spirit, and inspires me to be the best American I can be.

Now, once again, we are at a crossroads. This time, it is Islamic Extremism, OPEC gangsters, out of control debt, recession and rampant inflation, etc. Once again, the powers that be have given us an individual to lead us and inspire and INVOLVE us. Once again, I am stirred to forget my old partisan biases. I am ready to be part of a UNITED America that puts the unfortunate years of GWB behind us.

Barack Obama is a rare and remarkable human being. He is one who has the capacity, like Reagan, to not only lead but to inspire a new generation of Americans. It is a gift that such a person has been given to us, but we have to have the courage to put him in office. We have to have the courage to admit the missteps of our foreign policy and economic policy. We have to set aside our differences and elect this rare natural leader who can reassert our leadership in the world, not only as the world's most powerful nation and superpower, but as the morally centered country that for so long served as a beacon of light to those nations and peoples who would aspire to such greatness.

In summary, this old-guard disenchanted Republican thinks that Barack Obama can bring us back together as proud Americans.

Well it is very sad that I cannot even buy fish (fresh or frozen) in the grocery store that is caught/processed in THIS country. It is ALL from China, Thailand, Indonesia and even Vietnam! How FRESH is it being imported from all the way around the world?? That goes for most other foods also. I was appalled that even mushrooms in the jar/can are from China, et al, ones labeled Wal-Mart or Green Giant! Why can't we grow mushrooms HERE??? and what happened to our fishermen??? Just a small(?) reason why this country is down the tubes. We import foods from countries that are trying to kill us and out pets by putting melamine and other more dangerous products in our food supply. And we pay our own farmers not to grow. THIS HAS TO CHANGE! and I don't see McCain changing anything. My vote is for Obama/Biden and I am a senior female.

I have yet to see any major changes from newly elected Presidents. We the people fuel the economy in what we purchase.

Has anyone checked the number of homeless and hungry americans lately?
Where is the aid we need in America? Where are the jobs in America? The politicians take too much primetime to hash out personal issues. What politician has been without a home, employment, money or heard their stomachs rumble in hunger. My philosphy of war is "old men create war". If you leave every nation to fix their own problems we would be able to focus on our own. Nothing has been or will be solved using "prehistoric" retaliation methods. Hasn't anyone paid attention to history, it repeats over and over and over.

Yes the bad times will end. In like 2012. We have several years of little or no economic growth, similar to Japan in the 90's. It will take awhile to work ourselves out of all the debt we have built up.

Homeowners are to blame for a large part of this mess because they fell for the real estate industry's false claim that you should buy the most house you can afford and borrow as much as you can because you can write off the interest. Also, that location, location, location, BS. You have to be brain dead to buy into that flim flam. Also, high dollar areas like D.C., L.A., etc. Why would you move to these places and buy a house there? For a job? That makes sense. The money isn't worth it and the traffic problems aren't either. Plus, the home's aren't worth it either. I live in a modest home in my town and have for 11 years. I paid $102K for it. It is not in a location, location, location area but it is in a nice quiet area close to work and my family likes it. I live in a home, not an investment and that is what has caused this housing mess. People are buying homes as investments and running up prices. Bad idea. Boycott the real estate industry. They are w--h--o--r--e--s

We need to look at this problem as an opportunity to improve this country.

At what point do we take personal responsibility??? My husband was laid off in March. I could blame his boss, the economy, the president, the government...BUT I will tell you that we have put 10k into savings since then because we choose to NOT blame and take action!!! The housing market is in the state it is in because people have WAY overextended themselves and have tried to get everything NOW. How about a budget and savings and retirement plan???

If you are interested in doing something to save a few bucks and make your own situation better (because no one will do it for you!) go to www.savemoneytoday.net

The experts have confirmed it. Things are worse than we thought.

"Will it ever end?"

Of course it will.

Either Americans will eventually set the same job protections Europeans do, or they'll keep buying the far-right propaganda that the big bosses know best and we should be greatful for the crumbs thrown to us by the 1% wealthiest, who own 38% of the nation's wealth.

And to think ABC ran a report on how unfair it is that the top 5% of Brazil own 75% of their nation's wealth!

It makes me sick that banks - who's greed and plain stupidity started this mess...all of a sudden can treat qualified buyers like they are dirt and get away with it. The rest of us that were smart enough to stay away from teaser rates, 0% down, ARMs, reverse mortgages, etc etc not only pay for the idiots that jumped into this, but now have to put up with being treated like we are the problem. These so-called bank officers should be on the line for this, not the qualified borrowers who want a reasonable loan to value ratio. You wonder what garbage the high-end business schools are teaching these days.

oh...and by the way, those of you that buy the line that Obama will all of a sudden fix this, or that similar stuff will not happen under his watch?...you better start learning something about finance and the markets. He isn't going to bring down gas prices either - he even said so. duh

if tax payers are bailing out banks,mortage co'o,airlines,and now automakers,who will bail out the tax payers???

In Cincinnati gas went from $3.57 to $3.80 last Thursday, then to $3.89 Saturday, and to $3.99 today. All the while, oil prices steadily decreased, as they have been since August. For months, we were told gas prices depended on oil prices. Now, we are being told that gas prices depend on gas futures prices. Is anybody else tired of the lying?

Countdown to WAMU failure. No improvement and no buyers with new CEO. Saturday special meeting. Memo with OTS not satisfactory. TPG looking for an out since death spiral finance contract worthless if WAMU taken over by Fed. Insiders unload stock. Stock has no value. WAMU junk status. FDIC request for additional funding. Get your WAMU deposits within FDIC guidelines now. Expect a slow FDIC payout after takeover.

Yes it will end after this next great depression is over.
Put on your seatbelt because the ride just started.

Why not ask Peter Schiff and Ron Paul. Seems to me they have predicted all this quite some time ago. Just don't ask McCain or Obama, for they have not a clue.

I hope it gets worse

I hope more and more rich lose their shirts and their arrogance

they have judged the poor and

condemned themselves

just like sodom and gomorrah
they were FULL OF FOOD
and HAD NO CONCERN FOR THE POOR AND NEEDY

boo hoo all the rich lost their homes
and boats along the coast
I was without hydro for four months this summer and not one rich person on our road offered to help
HIPPOCRITES that sit their asses in church but dont care about anyone but themselves

I HOPE we have hundreds more hurricanes and I hope that america goes broke maybe then they will keep their asses in their own country
mind their own buisness
and start caring about their own people

fourty one year old man
wants ONE woman that wants ONE simple life
grow our OWN FOOD
can our own food
have our own meat
HEAT WITH WOOD
and quit trying to be rich LIKE SELFISH AMERICA
Integrity@cyg.net

Ron Paul the Clairvoyant doesn't seem so "kooky" after all. I love it!

Psalm 33
Blessed is the nation whose God is the LORD, and the people whom He hath chosen for His own inheritance. The LORD looketh down from heaven; He beholdeth all of the sons of men. From the place of His habitation He looketh upon all the inhabitants of the earth; He fashioneth the hearts of all; He considereth all their works. No king is saved by the multitude of an army; a mighty man is not delivered by much strength. A horse is a vain thing for safety; neither shall he deliver any by his great strength. Behold, the eye of the LORD is upon them that fear Him, upon them that hope in His mercy, to deliver their soul from death, and to keep them alive in famine. Our soul waiteth for the LORD; He is our help and our shield. For our heart shall rejoice in Him, because we have trusted in His holy name. Let Thy mercy, O LORD, be upon us, according as we hope in Thee.

I love it when I read all the gloom and doom in the newspapers. That means it is time to start investing. The smart money will always be smart and the dumb money will always dumb.

That's why the rich will always be rich and the poor will always poor. (Except for the rich brats who inherit from mommy and daddy--they'll squander their money on Ferraris and yachts)

I just put some money into an REIT (Real Estate Investment Trust) and in the next week or so will be putting money into a Vanguard mutual fund that specializes in financial institutions.

No telling if I'm catching the bottom or not, but even if it goes down a bit more, no big deal. I'm still getting in well below the peak and when it turns around, I'll be well positioned.

Next I'll be looking at putting some money into foreign funds that have been hammered. Some people see disaster and fear, others see opportunity. Be smart and see the opportunity, don't be frozen by fear.

Prophet John

Please spare us your relgious drivel. Hate to tell you this, but there is no god. God was created because of mankinds fear of death. If science ever conquers death, religion will disappear.

Spouting words from the bible is a waste of time. It is one step above a comic book.

On GMA this morning, both McCain and Hilary Clinton said they warned Congress about this two years ago. So why didn't they do anything?

Cindy Cook - The only guy to really tear into Bernanke was Ron Paul. You can view many of these clips on the internet. McCain and Clinton did nothing. Only Paul really challenged and questioned the purley Keynesian approach to our monetary policy.

Is that retarted SOB in the White House going to give tax dollars to AIG too. Let these rich bastards die. They rip us off with 35% intrest and now there giving our tax dollars to these money changers, that's because Congress including the Dems are up to there necks in these companys and are part of the rip off.

If the devil's in the details then why not put God in the answer? The Year of Jubilee!

"Loan Titans Paid McCain Adviser Nearly $2 Million

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

Mr. McCain, the Republican candidate for president, has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation as they began buying riskier mortgages with implicit federal backing. He and his Democratic rival, Senator Barack Obama, have donors and advisers who are tied to the companies.

But last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain’s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions."

SEE: http://www.nytimes.com/2008/09/22/us/politics/22mccain.html?_r#1&adxnnl#1&oref#slogin&ref#us&adxnnlx#1222103488-5de8RfsUDRInL0G4at2vFw