Monday, February 23, 2009

Jim Cramer: Social Chaos-All Wealth Gone-Money Worthless-No Credit Cards-

Cramer: Nationalization Would Crush America Jim Cramer points out that if it isn't nationalization of certain big banks, then it's chaos for the financial systems and puts this into a historical perspective.
He also said Insurance companies would not be able to pay out on property, life, liability insurance and NO annuity payments either, because if ALL stock are made worthless, the Insurance companies hold major amounts of bank stocks (usually preferred, rather than the common stock we nobodys buy) and if the ordinary people LOSE ALL THEIR MONEY in common stock that was OK, AS LONG AS THE PREFERRED STOCK WAS NOT WIPED OUT BY "Nationalization" and the VIP stockholders don't lose then we are "saved".

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  1. The reason why Mr. Obama is receiving failing grades for his governments's economic policy management is that he promised change, but is giving us a stale mix of utopian socialism and 60's liberalism, both of which have failed and neither of which we can afford. What is needed is a revitalized capitalism, not further creeping socialism and nationalization. He should be taking counsel from men like James Cramer and others offering similar solutions instead of vilifying them as doubters and hiding government incompetence behind the childish expression, "we won".

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  2. By revitalized capitalism...do you mean reflate the bubbles of destruction capitalism of the last 40 years. There needs to be a paradigm shift. The overproduction that has been produced is unsustainable. Socialism isn't the answer. Neither is bubble capitalist economies of boom/bust cycles.

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  3. Years ago Presidential contenders Ross Perot and Pat Buchannan advocated a buy American policy and scrap these unfair trade agreements like NAFTA, then we still had an industrial base but no more. All the Presidents in both parties wanted these unfair agreements and that put us in the predictament we are in today. There is no answer unless we bring back the industry we lost, only without labor union work rules and excessive pay scales, that caused these industries to leave in the first place.

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  4. The unions gains was a drop in the bucket of profit through pay scales compared to what the corp. bosses accumulated over the years! Why should the big shots profit billions every yr. while the unions only sought a reasonable living? If it were up to many of you we would all be forced to live on a minimum wage; except you of course! The ones who do the labor should rightly share in the profits. The fat cats bare none of the weight in the labor; yet expect the lions share of all the profits. We (as people and Americians) cannot now recoup from this disaster; NAFTA killed us. However, long before NAFTA the union bosses sold out their own people through bribes and positions. They did yield to outsourcing, manipulation, threats, gain and intimidation.
    The days of America's greatness was in part due to the decent wage of the american working men and women under union protection and fairness! Those days are gone and fairness and conformity will not again appear until Christ in his reign shall balance all equally. I suspect this will transpire shortly!

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  5. I have been following Elliott Wave theory for a while now, and what they are saying (if any of it is true), we are headed for an economic depression of emense proportions that will soon take place not only in this country, but also involving global economic markets around the world. Howard Weinstein NYC

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