House of Eratosthenes

Everybody talked about the “freeze” in the credit markets, but why, I wonder, were the cable news programs that repeated the credit-freeze mantra pausing for commercials from companies trying to lend me money?

He goes on…

Ditech and LendingTree still hawk mortgages at under 6 percent. Some credit freeze.

Economist Robert Higgs of the Independent Institute looked at the credit numbers kept by the Federal Reserve. He writes: “Although certain financial institutions are undeniably in deep trouble — difficulties of their own making … — credit markets in general have not ceased to operate. Moreover, lenders are extending credit in historically great amounts“.

Maybe this is why CNN business reporter Ali Velshi broke ranks when reporting on “dried up” credit and said, “When I say ‘dried up,’ I don’t mean there’s no money. But you’d better have good collateral and good credit.”

What’s wrong with that?

You really should go read the whole thing. It’ll change your perspective…especially if you think the 1929 crash was some harbinger of doom regarding what’s about to happen to us next.

It’s the technology. Not what it used to be. Seventy-nine years is a long, long time.

Cross-posted at Right Wing News.

as someone who has spent a lot of time lately trying to get my message in front of the media because I believe Americans need to know what is really happening here, well lets just say that in the old days when I first got started in software, a lot of engineers suffered from the “Not Invented Here” syndrome meaning “If we didnt invent it, It DOESNT EXIST”.

Well our media suffers from the same symptoms.

The following text is a message I have been sending out all morning long that has a plan that will restore the global confidence, but do you think I can get it in front of anybody that has the cajones to run with it ??

Yep, thats what I thought too, but I still keep trying.

—-

As I write this, the markets are waiting for the President to come out with his plan to stem what is happening in the markets today.

I for one hope that he understands that the market does NOT need more government intervention

What the market and the global enconomy need are confidence and money

With confidence in the system and money in their pockets, the people will start depositing their money in banks again and investing their money in the markets again

Now you’re probably wondering how we’re going to accomplish that and it actually is very simple

First we have to agree that the only part of the global economy that is faltering is America and our fellow countries that have followed our lead when it comes to our strategy

The oil rich countries (with the exception of us because of our drilling policies) are not having a credit problem

Now why is that ?

Could it be because we are sending them 700 Billion dollars in cash every year for oil and taking it away from the tax revenue that we need to run our country ?

Could it be because we are sending them 200 Billion dollars in cash every year as wages and taking it away from the tax revenue that we need to run our country ?

Ok, lets assume that these things are correct

Now why are we doing that ?

We are sending them money for oil because we have allowed special interest groups to cripple us with their demands instead of doing what we need to do
We are sending them money for wages because we as investors want more profitable companies no matter who gets hurt so that we may make money with our investments, not realizing all the while that we are actually crippling ourselves

Ok, now that the finger pointing is done, what do we do to fix the problem and restore the global economy and restore faith in our banks and investments ?
1. We drill
2. We mandate that in 5 years we will have an energy source that will be driving our cars that does not rely on oil. Don’t tell me we can’t do it. Hell we put men on the moon and launched the largest fleet the world has ever seen in WWII
3. We bring our jobs home as this will give Americans more money to start investing in our future again and our fellow countries will follow our example because we fessed up that we made a mistake and that we’re correcting it and it is working
4. We grow some big cajones and we do the above 3 steps and this ship will right itself virtually overnight

And one result that you might not expect will be the fact that we will be destroying terrorist extremists because we will be removing their sources of income by stopping payments for oil and by stopping payments for wages that we need here in America.

Lets stop the finger pointing and get the government out of our markets and lets grow some big one’s and do the right thing and take care of America and let our fellow countries do the same thing in their countries

It really is that simple

Virgil Bierschwale
http://www.KeepAmericaAtWork.com
- vbierschwale | 10/10/2008 @ 09:34

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