capj71

Hi I am Capj71, but my friends call me Jason. I love politics. I am a liberal, and proud of it. I share and prop stories here on Propeller I find interesting. You may disagree with what I post or prop, but at least it won't be boring.

my website

http://www.politicususa.com

Hobbies / Interests

Politics, weightlifting, sports, Pittsburgh Penguins, Penn State Football, Indy Car Series, foreign films, good books, diabetes

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Talkin’ to capj71 View All (3) »

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  sprytling1 month, 1 week ago

  It has become very obvious that people don't understand their own economy. Here is what is happening and why no one should be afraid. Our economy is fundamentally sound. Clinton got through a bill called the Community Revitalization Act, that DEMANDED banks and mortgage companies to sell homes to people who were never going to be able to pay the loans back. Despite the fact that those loans were risky, 90% of those loans are still sound. Of the remaining 10%, 20% of those loans made by ACORN have resulted in foreclosure. But again, that leave 80% that have not. So what we have are probably about 3% of those loans from people who would not have been able to get a loan for a house, resulting in foreclosure for whatever the reason. That is still a great many mortgages and a great deal of money.
  
  ALL of the banks and mortgage companies were not only encourage to do these loans, but they were commanded to make these loans or they would lose their licenses. So, the problem began with the government intervention. When our economy is allowed to continue without intervention and tremendous REGULATIONS...which mean laws created by people with their own ideologies and their own idea of how the economy ought to work rather than the way it really works. When they do that, things happen to the economy that shouldn't.
  
  Now, the problem that exists is that the banks won't loan money to each other. It is a little known fact that banks make a whole lot more money lending money to each other than they do making loans to us or on mortgages. For example, say a millionaire wants to make a $900,000 investment in an old building and he only has 24 hours to come up with the money. He is credit worthy and he goes to the bank because his money is not liquid, meaning what he has is not in cash, and he asks for a loan of $900,000. The bank approves hm with an interest rate of say 12%.
  
  Then the bank goes to other banks and they borrow portions of that amount at a lesser interest rate. Say Oshkosh Bank (made up) can lend them $250,000 at 7% and Big Sam's bank can loan them $500,000 at 9% and it will be repaid in one week, when the original borrower pays the bank. So then the bank makes the loan, collects 12% from the borrower, then repays the monies to the banks at a lesser interest rate and that is how they make their money.
  
  Well, because so many banks were so invested in these non functioning mortgages, the banks stopped loaning money to each other. Because the banks didn't know if the bank would even exist for the week in which they were lending (short-term lending), they stopped loaning the money for anyone. That created the problem with the banks, and the mortgage paper created the problems with the mortgage companies and investment groups, who sold the bad paper, bundled with good paper, to foreign banks and China and several other places.
  
  In addition, the price of oil went up. And we are in the midst of an election and it is the POLICY of the Dem/Libs to talk the economy down anyway. So all we have heard is how the economy is tanking and the sun, moon and stars are falling. People are pulling their savings from their 401K's, and selling stocks at any price, because they are afraid. But the facts are that right now, those who are selling are creating OPPORTUNITIES for those who are buying. Our economy is fundamentally just fine...just like McCain said. Mr. Bush has gone to Congress, asked to borrow from we the taxpayers to bail out Congress, because Congress made a very big error in creating a law that made loans to people who could not repay them and walked away from their homes.
  
  We are purchasing PREFERRED STOCKS from the banks, on a short term basis. We are in essence buying the bad paper. The banks will be repaying us, or buying back the stocks...that is, unless we elect a socialist as a President who will change all of this. Barack Obama has an ideology that could change everything and force the businesses and the banks to remain socialist. So, we are safer electing a Republican...at least in the short term, if we want to remain a Free Enterprise Economy.
  
  At any rate, the market reacts to (1.) the possible election of a socialist/communist/dem. They don't like it. (2.) when people are afraid and stop buying retail. (3.) when credit stops and bad paper is issued. All of this creates volatility. But when we allow ourselves to overreact, we need to expect the volatility. We all already know that the dem/libs all run around like chicken little and tell us the sky is falling because they can then make us all kinds of promises that the can't keep because we dont' have the kind of money that it would take to fulfill all of their promises. Add up what Barack Obama has promised and believe me, you will begin to understand that we cannot possibly afford to do what he say. In addition, even though we are at war, we need to begin to get the deficit under control and changing some of our laws back to something practical will help.
  
  So please stop panicing. The dem/libs are lying, as usual. We need to elect a Republican so we don't become a socialist government, because we are vulnerable right now and the dem/libs are known for taking advantage because their ideas are socialist/communist.

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  tjc19571 month, 3 weeks ago

  I'm not a liberal, but then again, I'm not a conservative either. All I know is George Bush is the worst president in modern history (if not all history)! The country is in worst shape now financially as well as in the eyes of the rest of the world since WWII. We have very few allies left thanks to Bush and his strong arm tactics and we are definitely not safer from terrorist attacks. Because of the Presidents foreign policies (or lack thereof) there are more terrorist groups forming against us and the ones that already exist are getting stronger. He should have gone after them instead of wasting our time, money, and soldiers lives in Iraq. I don't know if Obama has all the answers but, I'm willing to give him a chance. After all, the economy was never better than when Bill Clinton was president.

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  zephyrcjw2 months, 1 week ago

  Hey there, Jason. Nice to know you are a proud liberal. As such, I assume you would never be racist, sexist, etc. Or that you would at least not like anyone to think of you as such. Or am I assuming too much? You see, you just posted an article on Propeller that I assume you thought was clever because the title referred to Mrs. McCain as a "whiny bitch." That is OFFENSIVE to women. Do you understand that? Could you comprehend that if it were applied to your precious Obama's wife? (indeed some others have already)
  Do you have a wife, daughter, sister or girlfriend? Would you let someone refer to them as such? As a woman, I am sick of liberals who preach nicities only one way and gleefully lash out against their opponents using offensive, biased terms. Would you use ni**er or qu**r? Would you post an article to Propeller with those words in the title? I think not. Or maybe you are that crude and ignorant. Hard to tell....I've already reported your post. I suppose you don't care but I just wanted you to understand in your little world that words do hurt and demean, even when coming from liberals.