peacenow's Recent Comments

  • Reply to blog post: 5 Reasons To Vote Against the Bail Out by Strider333
    Comment written 5 days ago

    Credit is frozen and $700 billion is nothing more than petty cash.  The system is failing.  Listen carefully and you can hear Nero on the violin.  To make matters worse, both Obama and McCain are pointing fingers at each other instead of looking in the mirror and asking "What can I do for the American people?"

  • Reply to blog post: Bailout Blues by aseeker
    Comment written 5 days ago

    $700 Billion bailout? it's nothing more than petty cash.  Look out, this crash is going to hurt.

  • Reply to blog post: Better days? by justmyopinion
    Comment written 5 days ago

    Your right, their totally incompetent.  In Washington, it's all about ME.

  • Reply to blog post: Congressman's Thoughts against Bailout by revelations
    Comment written 5 days ago

    I agree with Congressman DeFazio, throwing money at this problem is not the answer, it's part of the problem.  My question is: Is $700 billion enough to get this economy back on track? or is this nothing more than than a stop gap measure hoping against hope that it will stabilize the financial markets.  The credit crisis has spread thoughout the world.  The system for all intents and purposes is frozen.  If ever there was a time to address the problems from a "Cause and Effect" point of view ... it's now.

    What concerns me most is: What happens if this bailout doesn't work?  What then? 

  • Reply to a comment on: The Economy: Holtje's Law by peacenow
    Comment written 6 days ago

    Rev... Thank you for your comment.  I spent 35 years on Wall Street designing systems and rule number one was to go to the "big picture" and create a system that effectively solved the problem.  That being said, take a look at the asset valuations that have been created by Wall Street.  Are they not out of sync in terms of the overall economy and funds on deposit? and the larger question is why are they so out of whack?  Because along the way, the higher the valuations became, the more money there was to be made.  In effect, Wall Street created it's own printing press except their money machine was computer generated.

    I used what I refer to as "Holtje's Law" only as an illustration to make the point that what we have here is beyond the control of our central bank.  To answer your question 1:45.45 is more reasonable but keep in mind that the underlying assets are clearly overvalued even if you add $3 trillion to the money supply.  As I said $700 billion is a mere bag of shells.

    As far as reasonable ratio's, they must be established by the Federal Reserve and when in their opinion, a bubble begins to form the Chairman must speak out and inform the President and Congress that such a situation is not in the best interests of the people.  In 1998, when Long Term Capital almost brought down the system, Alan Greenspan refused to put limits on derivative contracts. His lack of vision 10 years ago is why we are where we are... AL

  • Reply to a comment on: The $700 Billion Bailout: A Mere Bag of Shells by peacenow
    Comment written 1 week ago

    Everyone in Washington is missing the point.  This is not about saving the banking industry, it's about saving OUR currency.  But, on Wall Street, it's business as usual.  Can Secretary of the Treasury Paulson formerly the CEO of Goldman Sachs be trusted to act in the best interests of the people?  I don't think so. For example, his remark defending "golden parachutes" speaks for itself.  To paraphrase, he said that executive packages were necessary otherwise they (the Banking executives), would not participate in the $700 billion bailout.  That's exactly the point, if you don't need the money ... don't participate.  In my view, the damage to the financial system is in the $trillions.  Ben Bernanke, the Federal Reserve chairman, should be demanding limits on the dollar amounts of transactions that are backed by the good faith of the American people.  Not a word and ... that's the real issue or to put it another way ... "Who's really running the show?"

  • Reply to blog post: I'm Glad To Say by sadsomtimes22
    Comment written 2 weeks ago

    There is nothing more important in this election than to be "informed" The country faces great challenges in the coming years and it is our responsibility to choose a leader ... Well done

  • Reply to blog post: Bigfoot Comments on Politics and Freedom by eurovir
    Comment written 3 weeks ago

    Nice post ... and in the words of Popeye ... "I am who I am who I am" ... That's all folks.....

  • Reply to blog post: by
    Comment written 3 weeks ago

    GREAT POST ... Well Said ... Thank You

  • Reply to blog post: Fat Children...the Obesity Epidemic by cjone2000
    Comment written 3 weeks ago

    Well well done and congratulations you deserve being featured.

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