Tag: Poverty & Economics

More People Living Out of Their Cars – Welcome to Bush’s Vision of America

The economy sucks!  Yes, we are in a recession!  No, the fundamentals DO NOT look good for the economy to bounce back later this year (as per Bumbling Ben Bernanke).

As people over the past few years have lost their employment and due to that lack of income have also lost their homes, they have taken to moving into their cars, vans, RV’s, mobile camper trailers and anything up to and including a nicely appointed cardboard box.

Yes.  Even a person now living in their Camper-Van is not considered to be Homeless.  Their mobile vehicle is now considered to be a home.  Only in George W. Bushs’ America.

In George W. Bushs’ vision of America, this is OK. No problem.  Business as usual, you know.  We have the “HAVES” and the “HAVE NOTS” and never the twain shall meet, right? I mean, they will pull themselves up by their bootstraps if they REALLY want to re-join regular society.  Right?   (Insert much foul language directed at Neo-Con’s here).

The Bank of England is now propping up THEIR credit crisis, too.

The Bank of England has announced a £50 billion plan to help prevent the ongoing credit crisis that has seemingly gone world-wide since the problems became evident in the USA.

£50 billion is $99.82 billion in US Dollars.  That is a lot of money and shows that the underlying fundamentals of the world markets are, unlike what the Bush administration tells us, becoming more and more shakey by the day.

From BBC:

Banks will be able to swap potentially risky mortgage debts for secure government bonds to enable them to operate during the credit squeeze.

The Bank’s governor, Mervyn King, said the scheme aimed to improve liquidity in the banking system.

It should also increase confidence in financial markets, he added.

Under the scheme, banks will be allowed to swap their “high quality” mortgage debts for government securities.

The British Government is allowing banks to exchange mortgage debt for Government backed bonds.  Sounds like another bail-out at tax payers expense, wouldn’t you say?  Only, once again, the tax-payers aren’t the ones getting bailed out.

Hey! The MSM just figured out what you and I have known for A Long Time.

Guess what?  The media has caught on!  Sure, a couple of years after those of us that have been paying attention already knew the answer, but HEY! at least they decided to report on it.  Only because it helps corporate interests, but they did finally report on it.  

Go figure.

What, you ask, did they finally uncover?  The reason your food is costing more money!  WHOA!  Be still, my bank account.

From a story, issued from MSNBC late Friday afternoon.

If you’re fuming about how high gasoline prices have gotten, why not relax with a nice meal?

Perhaps a few beers and a turkey sandwich? Maybe a chicken Caesar salad?

Well, it’s not just the price of gasoline that’s going up. That beer, turkey and chicken are also costing more too.

Let me see.  What do beer, turkey and chicken have in common?  

Hmmmmmm.  Nope, I can’t figure it out for myself. It must be too obvious or something…

As President Bush noted in his comments on the economy Friday, “Prices are up at the gas pump and in the supermarket.”

Welp, I wonder how that happened on Your Watch, oh enlightened Presnit?  

Lets see, shall we?

What goes up must…. Wall St. sinks at the open

Weak economic reports and record prices for oil and gold are causing investors to move out of stocks this morning.

As I mentioned in my last essay, I was moving my money after Tuesday’s 417 point gain out of riskier investments and into safer plays such as bonds.  One can never time the market, but if you have been paying attention, the handwriting was on the wall, and now it the time, imho.