Tuesday, October 07, 2008

Financial Crisis: The band plays on

...And the band plays on (Dance band on the Titanic)...

Was in a waiting room today, saw CNBC and they had wall to wall financial crisis.

BUT NOBODY is asking them the KEY critical QUESTION:

What about ALL the TRILLIONS of dollars in CONSUMER debt that was made into
'CDO' (collateralized debt obligations) or CDS (ccollateralized debt swaps)

and sold ALL over the world JUST like the Subprime Mortgages?


I keep telling people that we're going to get another 75 % of the iceberg that we're about to hit...


OK, you wanted a Political discussion: Here goes.

AND NOTE I SAY we;re going into a **D*E*P*R*E*S*S*I*O*N** !

The background I believe that:
* It's going to be as BAD as the last one.
* The current failures only bring us 25% into the problem!!
* According to Robert Reich (former Sec'y of Labor under Clinton): The only number that he EVER saw, defining the
depression was that the unemployment rate hovered around 25%.
* We need a new deal.
* After 58 years of NO Health Care Reform (since 1950!) it will FINALLY be coming soon...
* We've managed to WASTE a FULL generation (from Zero to thirty) with decaying social, educational, and interpersonal skills.
* Our nation is no longer DOING (producing) anything.
SO, from these few premises, I have extrapolated a great deal of items to FIX our society...

We need to make sure that a number of issues are resolved ALL at once.
If we don't do them ALL at once, its like juggling three RUNNING chain saws, but dropping one!

Here's what I came up with:

We need to do the FOLLOWING to FIX our Society:
* Create A Living Wage
* Create a National Single payer Healthcare
* Create a National 3-4 year draft (or alternate service)
* Create a Federally paid Day Care starting at six months
* Implement Tax Reform on the ULTRA Rich
* Lobbying (Political Reform)
* Education
* Infrastructure (road /bridge/Systems repairs)
* Lack of Training/futures
* Truth and Reconcilliation Commission
* A new "Manhattan" project, focusing on Energy INDEPENDENCE

See my other blog: http://sos-newdeal.blogspot.com for more details.

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