ICELAND BANKRUPT?! MEXICO AND ENGLAND NEXT? WHAT COULD HAPPEN HERE? ARE WE AT RISK?

All legitimate speculation shows the prospects of bankruptcy looming over the US economy because the worldwide downturn has resulted in a recession with no borders. Iceland has become the first casualty. It has the dubious honor of government failure under this pressure. The domino effect has now been started with the finger push of depression. The next domino is anybody’s guess but Mexico and England are neck and neck. Most experts feel with the passage of the “un-stimulus” bill tying up monies in our own economy, the US will be helpless to stifle this catastrophe at our southern border. The failure of the Mexican economy will cause the ripple effect here leading to us becoming the following domino.
What would happen to the citizenry here if the US declares bankruptcy? What has not been felt in a generation, a recession/depression will create a new environment the likes of which have never been seen. What could I be looking at? Well, the bankruptcy would cause food stamps no longer being printed and dispensed to a needy populace. The government services and projects will be halted both locally and nationally. Buildings will not have the money to operate leading to a new type of red tape. Immigration will stop. Social security checks will no longer be honored. Medicare checks to doctors, hospitals, clinics, and other health related individuals will not be paid leading to a collapse in the entire health care industry. How will the military operate? Frightening indeed!
If the un-stimulus bill passes, it will be the biggest pile of pork in history. Rewriting the bill with bipartisan participation is not necessarily the answer. Only if the Republicans make their ploy to refine the bill strictly limited to cutting the pork and no ancillary bullshit, it could be the shot in the arm the economy needs. The Republicans stand a chance in calling out Sheik Obama’s administration’s no change anthem and show their diligence in getting real reform accomplished. Then, this opportunity for their party will lead to the public’s disgust with the Democrats and a landslide in the next elections.
On the other hand, both parties have a history of creating pork bills with little merit, this is an UNPRECEDENTED opportunity for the Independent parties to establish themselves as credible forerunners for future elections. The necessity to have a “watchdog” party in the eye’s of the public has never been at a more important time. This is a historic time calling for a historic leader. Let’s hope someone from any party show responsible, respectable leadership with honorable traits that fulfill the prestigious position of the US Presidency!

IT’S A DEPRESSION, STUPID!!! LIQUIDITY IS NOT THE SOLUTION!!

Why are all the “leaders” insisting the solution begins with MORE credit? Businesses do rely on availability of credit in order to operate. When this is not a viable option, the business strategy must be altered to the current situation. Increasing debt is the reason citizens are feeling strangled now. Therefore, having access to more is only going to exacerbate the problem in the long term. I own a business and my day-to-day operation is based on what money I have in the bank. I purchase supplies according to need and cost control. If I put my business in debt by borrowing money, it would leverage my competition in a downturn. Private funding for new businesses thru investors leaves government out of business.
The bank bailout provided funds to prevent a collapse of the financial industry. In fact, the Congress proudly passed the Bill singing their own praise about preventing a Depression. Well, with no stipulations given to the banks, they gladly spent the money on frivolous shenanigans and umbrellas while simultaneously hording the monies to solidify their positions. The government is failing to pursuit the bailout money because no legislation has been passed to add stipulations now. Improper conduct is rewarded by the banks with taxpayer money? It’s never too late when taxpayer money is involved. The Democrats have been involved in the deceit which strikes me as perplexing given the election results.
The Bush administration has done nothing to address the issues responsible. He could have brought investigations into the fiasco which would have squarely placed the cause on high ranking Democrats. Instead, he remained silent which now puts his inaction as a supplement to the problem.
One solution the Congress should implement is every bank which received taxpayer funds must immediately provide every person with a mortgage an interest rate half of what the current rate is or that is in contract currently. This would allow everyone to free up sums of money to use on necessities they currently have. Also, this would allow people to pay down their mortgage faster if they choose.
I would like readers to make suggestions in order to write their Congressman here on this page. Any feedback would be appreciated, good or bad.

Grappledoctor