Monday, September 15, 2008

Major Bank Fails, Stock Market Plunges, Mudtown Fiddles.

With a bankruptcy filing by Lehman Bros. Bank, America's 4 th largest bank has liquidated. That specter prompted the sale of Merrill Lynch & Co., and was followed today by the Dow plunging over 500 points. One of the largest falls in Stock Market history. The Secretary of the Treasury huddled over the weekend with the Federal Reserve and Wall Street big shots to prevent a collapse of the American financial sector.

John McCain today:
"Our economy, I think still -- the fundamentals of our economy are strong. But these are very, very difficult times."
So everything is fine, move along. Where have I heard that before? Oh yeah, from my grandfather.
"Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves."
Herbert Hoover
Grandad lived through the Great Depression and was lifted by the "legislative action and executive pronouncements" of Franklin D. Roosevelt. The dollars that WPA workers earned flowed back into the economy through his general store and fed his family.

Yeah, these are rough days for the American economy and American citizens: Bank failures, wall street meltdown on top of record jobless numbers and a sharp decrease in manufacturing. Let's make sure our neighbors over in Mudtown, Virginia are doing OK, what with all this troubling news: Let's see how they're holding up...

"Was Barrack (sic) Hussein Obama Born a Muslim"....

"If Obama Befriended Charles Manson Would You..."

What the... looks like they're not paying attention.

Guess they just don't get it!


Bubby said...

People should worry less about "socialized health care" and more about "socialized banking". AIG asks for $40 billion government handout

Hard Right Rudder said...

All the socialist crap that FDR tried did not end the Great Depression. WWII did. Hate to rain on your parade with the truth.

Bubby said...

Weren't you the ninny that said he "didn't know, and didn't care" what McCain's economic policies were? And now you are an expert on economic history?

FDR created jobs that sustained families, rebuilt towns and cities, offered hope, and inspired Americans to reach higher, and keep the dream alive. He put a safety net under our seniors, and fed the hungry. He kept the nation united and strong.

Hoover offered the "invisible hand" of market forces to correct the economy...and administered America's fear-filled slide into economic ruin. He had nothing, just like Bush, just like McCain. Just like you.