Friday, February 6, 2009

NoBullU Battle Cry

This is an urgent battle cry for all NoBullU readers and listeners:

Repeat after me: The stimulus package should be timely, targeted, and temporary. Instead, it is a sprawling, undisciplined smorgasbord of pent-up partisan fantasies, therefore I will not support it.

Instead I urge my Congressman or Senator, and to support the Fix Housing First Act, as revised by McConnell and Alexander to provide new and refinanced mortgages for 4%. (The original Fix Housing First Act does not include this revision.)

Repeat if necessary, then contact that worthless Congressman or Senator, and tell him/her.

This would stimulate consumer spending.

P.S. The banks should also be nationalized.

P.P.S. Tax cuts are not the answer for this economic mess. In fact, Congress should pass my proposed tax increase, the Incompetence Tax, as part of the stimulus bill.

For Republi-cons who think differently, consider this:

Republi-cons got us into this mess:



Different problems require different solutions:



This sums it up well:



Although if it helps, think of the proposal to provide new and refinanced mortgages for 4% as a tax cut.

P.P.P.S. Finally, for those who think we should do nothing, it could get a lot worse. Think Iceland.

Class Today at NoBullU on WEBY

Listen to the voice of wisdom and reason in a wilderness of partisan rhetoric -- No political insanity, no conservative hypocrisy, no liberal foolishness -- Just straight talk, straight at you, and that’s no bull!!

NoBullU will be on air Friday from 4:05 to 6 p.m. at 1330 AM WEBY and on line, courtesy of Cyber Smart Computers.

Topics:

Local and state: Prosecute Sansom, and

Nation and international: The economic mess left by the Republi-cons and the proposed stimulus plan (Dr. Dennis F. Paulaha, Ph.D., is scheduled to be a guest to discuss the status of the bailout effort, his original plan to Remortgage America, and Senate Republican leader McConnell's latest proposal, the 'Fix Housing First Act') .

But I'll discuss anything. (Disclaimer: the host reserves the right to end any discussion and hang up on you.)

So tune-in, call-in, but only if you can handle the truth!

Told Ya So, Remortgage America

UPDATE : On Friday's show Dr. Dennis F. Paulaha, Ph.D., is scheduled to be a guest to discuss the status of the bailout effort, his original plan to Remortgage America, and Senate Republican leader McConnell's latest proposal, the 'Fix Housing First Act.' Tune-in.
UPDATE II: The idea is catching on. Listen or read NPR, Housing Fix? Republicans Push For 4 Percent Loans

So contact your Congressman or Senator, and tell him/her to support the Fix Housing First Act, as revised by McConnell and Alexander to provide new and refinanced mortgages for 4%. (The original Fix Housing First Act does not include this revision.)

Do it now, before Congress wastes more of your tax dollars on the Wall Street Ponzi scheme.

Just do it, NOW.

Senate Republican leader Mitch McConnell, is proposing cheap, government-backed mortgages to stimulate the economy. "Under the 'Fix Housing First Act' -- an amendment spearheaded by both McConnell and Republican Sen. Lamar Alexander of Tennessee -- new and refinanced mortgages would be available to homeowners for 4 to 4.5 percent. "

Say, didn't we discuss that idea - six weeks ago! That's right, I blogged about it on December 12, 2008, and called Mike (who substituted for me that Friday) to discuss the idea on air. I think I called again the next Monday. I had Dennis F. Paulaha, Ph.D., who was a spokesperson for the idea to remortgage America as a guest for the better part of the program the following Friday, December 19, 2008.

The Remortgage America proposal was a little different, the original plan was for the government to offer every U.S. citizen a 30-year mortgage at a 1½% fixed rate of interest. But the idea was the same, lower mortgage payments.

The reason it was and is a great idea: the plan is simple and fair, nearly everyone who owns or want to buy a house benefits. (Some people are beyond help.)

But Paulaha's best argument: "It is better than what Washington politicians are doing now." Couldn't argue with that and still can't.

Can anybody explain why this plan is worse than the current effort that is pissing money down that rathole called Wall Street.

"Companies that have gotten bailouts continue to make a mockery of taxpayers.

Until it came to light Tuesday, Wells Fargo, which received $25 billion in federal funds, was blithely planning a series of “employee recognition outings” to Las Vegas luxury hotels this month.


As ABC reported, Bank of America took its $45 billion in bailout funds and sponsored a five-day carnival outside the Super Bowl stadium, and Morgan Stanley took its $10 billion in bailout money and held a three-day conference at the Breakers in Palm Beach. (Morgan Stanley had also still planned to send top employees to Monte Carlo and the Bahamas, events just canceled.)


The New York Post revealed that Sandy Weill, former chief executive of Citigroup, took a company jet to fly his family for a Christmas holiday to a $12,000-a-night luxury resort in San José del Cabo, Mexico. No matter that the company just got a $50 billion federal bailout and laid off 53,000 worldwide.


The interior of the 18-seat jet, as described by The Post, is posh, with a full bar, fine-wine selection, $13,000 carpets, Baccarat crystal glasses, Cristofle sterling silver flatware and — my personal favorite — pillows made from Hermès scarves."

I agree with Paula: for "the first time in the entire 'recovery' debate, American politicians are talking about lowering mortgage rates and fixing the economy by putting people first."

Contact your Congressman or Senator, and tell him/her to support the Fix Housing First Act, as revised by McConnell and Alexander to provide new and refinanced mortgages for 4 to 4.5%. (The original Fix Housing First Act does not include this revision.)


P.S. Somebody should pay me for this, I prefer gold until further notice.

It's the Consumers, Stupid

Consumer Spending accounts for 70% of economic activity in the U.S. The meaning of that fact can be depicted in different ways. Here are some, FlowingData, 9 Ways to Visualize Consumer Spending.

Here is another, using the growth of Target Stores over time:




There has been a substantial decline in consumer spending, and unless something is done, it will only get worse.

Stop wasting money on the bankrupt banks.

It's the consumers, stupid.

P.S. What's a stupid politician? A tautology.