RICK PERRY NO LONGER SERVES AS A DEMOCRAT AND HERMAN CAIN NO LONGER SERVES AS A FEDERAL RESERVE STOOGE!
Banker’s Second Attempt Herman Cain
All Of A Sudden We’re Served More Koolaid
Let Me Disarm Your Worries~ I’m Black And I Wear A Cowboy Hat
Herman Cain Spins The Unconstitutional Privately Owned Federal Reserve
Guess Who’s Going To Lobby For Him?
Naaaa Tell Me It Isn’t So.
He backed the Wall Street bailout, or according to Cain, the “recovery plan,” as he called it on his radio show. Cain wrote that nationalizing banks “is not a bad thing.” He even went as far as criticizing opponents of the bailout, calling them “free market purists” and absurdly claiming that no valid criticism had been brought forward.
Read Herman’s previous columns
October 20, 2008
September 22, 2008
September 22, 2008
Wall Street and the Disastrous Main Street Ripple Effect That Could Have Been.
HERMAN SELLING KOOLAID IN 2008
Hey Herman, did you know that this $700 Billion Aspirin grew behind closed doors to a mere $12.8 Trillion?
AND THATS JUST THE TARP THE TROUBLED ASSET RELIEF FUND!
DEFINITION IS BAILOUT FOR BANKER’S GAMBLING DEBT!
LET THE TAXPAYERS TAKE THE ASPIRIN, WHILE THE BANKERS HEAD TO DUBAI!
So much for your PRIVATELY OWNED federal reserve internal audits eh?
The nation’s financial system has a severe migraine headache. We can take our $700 billion in aspirin now, or wait for a $700 trillion surgery if the economy tanks.
The first option might prevent an economic recession. The second option would put us in a depression due to the ripple effect of doing nothing.
There is plenty of blame to go around for the crisis on Wall Street, starting with the CEOs and directors of the wounded businesses, followed by failed congressional oversight that they have and did not use properly.
Admittedly, these Wall Street bailouts and “special loan arrangements” by the U.S. Treasury and the Federal Reserve seem inappropriate and excessive to the typical citizen, but ifthe Bush Administration had done nothing, Mike and Mary Mainstreet would have been outraged once the ripple effect knocked on their door.
Last week Russia suspended trading on all of its stock exchanges for several days. If Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch and AIG were all allowed to spiral into their own self-inflicted demise, trading on the U.S. stock exchanges could have been suspended.
Here is one man’s ripple effect scenario if stocks stop trading:
- Banks would freeze their lending operations until they could figure out the shock waves through the economy of a frozen stock market.
- Fortune 500 companies would not be able to refinance their scheduled “balloon” loans for some of their debt and seasonal cash-flow needs.
- New business investment would stop, and large existing projects would stop when businesses could not draw down on their lines of credit.
- An already depressed housing and construction segment of our economy would become even more depressed.
- Businesses large and small would begin to lay off workers, which would cause unemployment to go up significantly, and consumer spending to go down significantly.
- Since business investment and consumer spending drives a combined 85 percent of the economy, Gross Domestic Product (GDP) would tank. The only unknown is how deep.
HERMAN IN EFFECT IS SAYING ~ LET THE TAXPAYERS PAY FOR THEIR GAMBLING DEBT
The mainstream media has done a good job of scaring the public about how serious our economic situation is, and a poor job of reporting the possible ripple effects if nothing is done.
Some people do not believe that such a scenario could happen. Yes it could. Ask Russia. Or study the history of how a series of bad decisions and indecisions led to the Great Depression of 1929. That time was no economic migraine headache with unemployment nearly 25 percent and the stock market losing over 80 percent of its market value.
President Bush and his administration will not get any credit from the mainstream media or the Democrats for their efforts to avoid a do-nothing scenario. But at this point in his administration, I don’t think President Bush cares who gets the credit. That attitude is good for America.
Let’s hope at this point the do-nothing, blame-game, lowest-rated Democratic-led Congress in history stays out of the way to give the billions in aspirin a chance to work.
At least a do-something president with the right attitude gives us a chance to avoid the worse case scenario.
1.Michele Marie Bachmann is a member of the United States House of Representatives, representing Minnesota’s 6th congressional district, and a candidate for the Republican nomination in the 2012 U.S. presidential election.
2. Herman Cain is an American businessman, columnist, politician, and radio host from Georgia and Chairman of the Federal Reserve Bank of Kansas City.
3. Newt Gingrich is a 58th Speaker of the United States House of Representatives.
4. Ron Paul is an American medical doctor and Member of the U.S. House of Representatives from Texas’s 14th district.
5. Tim Pawlenty is an American politician and 39th Governor of Minnesota (2003–2011).
6. Willard Mitt Romney is an American businessman and Republican political figure. He was the 70th Governor of Massachusetts and is a candidate for the 2012 Republican presidential nomination.
7. Rick Santorum is a former United States Senator from the Commonwealth of Pennsylvania. Santorum is a member of the Republican Party and was the chairman of the Senate Republican
SHOW THIS TO HERMAN
- Highlights From A Bewildering Interview With Herman Cain [Herman Cain] (jezebel.com)
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- Charles Krauthammer Questions Whether Herman Cain Knows Where Libya Is (mediaite.com)
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