Vic Smith wrote:
On Fri, 6 Mar 2009 05:36:20 -0500, "Eisboch"
wrote:

"HK" wrote in message
...


Well, of course. Uncharted territory. Obama is trying lots of different
things and like most of us, hope some of them work properly. We've given
up entirely on Republican drip down.

The shotgun approach can be effective but is incredibly inefficient and
requires little thought.
Just shoot in the direction of anything that moves.

I don't think it's shotgun except for bailing out the big financial
institutions without have a good handle on that.
After all, AIG is already in the tank for $180 billion.
What's going on is people are slow to realize that it's a new world.
You may have noticed Joe and Pat all flustered about the diving DJIA.
They still don't get it. The "magic money" of Wall Street is the root
of the problem we are in.
Those days are over. Over.
The 401k "losses" aren't real money. It was never real.
"Real" money is cash in hand that can purchase something.
People just don't like to admit they were suckers and bought into
the "wealth without labor" bull****.
Especially the "leaders" who should have seen through it.
But that's part and parcel of my yuppie argument, so I won't bore you
with it.
There are much bigger changes coming to reorganize the economy.
Going to be some tough times.
A bucket of cold water in a lot of faces.
That's how "socialism" hits after living off the labor of others for
so many years. A cold slap in the face.
Wall Street will play a much smaller role.
But they don't get it.
I suppose horseshoers had the same problem when the tin Lizzy came on
the scene.
That's what a lot of old "establishment" guys are going through.
Joe is acting really funny. I think he's a smart guy, but he's got
the horse-and-buggy disease.
He's probably too young to remember when things were different.
Remember the old Nebraska farmer who Johnny Carson asked what
technological advance most impressed him?
Everybody was expecting him to say airplane, or moon mission or
television.
He rocked the audience by answering "Electricity."
Damn, I miss Johnny.

--Vic


Carson was without question the very best at what he did. So were his
guests and his orchestra. No one who has followed can fill even one of
his shoes.

It's interesting to me that you have come to about the same conclusions
regarding the stock market as I have, that in recent years especially
the "value" of stocks was not based upon any sort of reality, that it
was speculation built upon speculation. Book-cookers.

In rebuilding the economy, I'd like to see a lot more emphasis on
insured savings accounts paying good interest rates and home mortgages
and other loans at some multiple of the savings rate that assures
solidity for the institutions making the loans. There is no consumer
need for banks the size of Citibank or Bank of America. Commercial
interests have different needs, of course.