The elections are over and I see those who bought into the "change we can believe in" hanging on, believing that change is coming. Having no other choice, I can only hope for the best.
However, it is no surprise to hear that change is not forthcoming, that the financial crisis will only be worse before it gets better. The incoming administration has not in any way put forward how to bring about the change that this country critically needs. The President-elect is playing it safe by being vague and uncertain about what will be done. His choice of advisors and cabinet members does not eliminate the uncertainty in our financial markets at all. His economic team are woven from the same cloth worn by those who put us into the financial mess we are in.
The bailouts serve only to quell the heightened desperation over this financial crisis for a day and the stock market will be back down to where it was until another bailout is doled out to someone else begging for it. It's pathetic.
As I have always pointed out, middle class America needs the bailout. More of them are losing their jobs, incurring more debt, risking foreclosure and above all, spending less. We have a runaway train. Distributing another economic stimulus check will not help the economy at all. Let's try a different approach.
How about HARP- Hurting Americans Relief Program? The taxpayers' money should be made available to them in their time of crisis. Congress should be looking into the mechanics to implement it yesterday. Political discussions about creating jobs, etc as we know remain just that for a good many years.
When Main Street has the funds to pay bills, meet their mortgage and rent payments, and recover some of the losses in their retirement plans, the economy will get the boost it needs. At that time, Wall Street will be back in business.
http://riyah6.blogspot.com
Here is your compass - based on the book, Destination Points A Values-Driven Journey.
About Me

- zoni
- I'm your next door neighbor with serious concerns about our America. Most people have been silent about things that matter because they do not have the facts. This blog's mission is to educate you about the issues that impact your financial security, your health and your values. In the words of Dr. Martin Luther King, "Our lives begin to end, the day we become silent about things that matter". Speak the truth. Be empowered and stand on the facts. Rise in righteous indignation and together we can effect the change to take back America.
Monday, November 24, 2008
Saturday, October 18, 2008
Birds of the same feather flock together
Fox News' special, Ties That Bind, seemed restrained in reporting the facts. There should have been more factual investigative reporting of Senator Obama's association with the Woods Foundation and Bill Ayres and his financial support of Acorn. Main Street deserves more information to make an informed decision on November 4.
There is very little time left and it is with much concern to observe a great number of Americans, if we were to believe the polls, seeming to favor Senator Obama. Senator McCain should come forth with more facts about the Ayres/Obama relationship and Senator Obama should disprove the facts as presented other than saying that he has no relationship with Ayres.
Otherwise, we are left to ask, do birds of the same feather really flock together?
http://riyah6.blogspot.com
There is very little time left and it is with much concern to observe a great number of Americans, if we were to believe the polls, seeming to favor Senator Obama. Senator McCain should come forth with more facts about the Ayres/Obama relationship and Senator Obama should disprove the facts as presented other than saying that he has no relationship with Ayres.
Otherwise, we are left to ask, do birds of the same feather really flock together?
http://riyah6.blogspot.com
Wednesday, October 15, 2008
Senator Obama's healthcare plan
The healthcare plan discussion at tonight's presidential debate made it worse for Main Street. No one can make heads or tails about it. It was all dark clouds spinning overhead.
As portrayed by Senator Obama, his plan is a nightmare that should be prevented at all costs. It is not right to simplify such a critical issue by providing credit deductions, exemptions, etc. I am concerned that he is laying out a plan with limited knowledge and understanding of the healthcare industry. Senator McCain makes better sense by providing resources to the public through wellness and nutrition centers, community clinics and partnering with the insurance companies and private sector to provide public health education.
The rising cost of healthcare is best handled by holding the consumers accountable for managing their health. The consumer should be held financially responsible beyond copays. Sharing the cost encourages the consumer to be health-conscious and providing a $5,000 healthcare credit seems more practical. Moreover, health insurance companies in partnership with the states and various associations are now doing a great job educating the public on ways to bring down healthcare costs.
What drives insurance costs up are the claims that are submitted in great numbers which for the most part were not necessary. If everyone takes responsibility for a healthy lifestyle, there will be far less numbers of people utilizing emergency care for conditions that could have been prevented. However, the convenience of having insurance coverage with a low copay, for example, facilitates the consumption of medical services.
http://riyah6.blogspot.com
As portrayed by Senator Obama, his plan is a nightmare that should be prevented at all costs. It is not right to simplify such a critical issue by providing credit deductions, exemptions, etc. I am concerned that he is laying out a plan with limited knowledge and understanding of the healthcare industry. Senator McCain makes better sense by providing resources to the public through wellness and nutrition centers, community clinics and partnering with the insurance companies and private sector to provide public health education.
The rising cost of healthcare is best handled by holding the consumers accountable for managing their health. The consumer should be held financially responsible beyond copays. Sharing the cost encourages the consumer to be health-conscious and providing a $5,000 healthcare credit seems more practical. Moreover, health insurance companies in partnership with the states and various associations are now doing a great job educating the public on ways to bring down healthcare costs.
What drives insurance costs up are the claims that are submitted in great numbers which for the most part were not necessary. If everyone takes responsibility for a healthy lifestyle, there will be far less numbers of people utilizing emergency care for conditions that could have been prevented. However, the convenience of having insurance coverage with a low copay, for example, facilitates the consumption of medical services.
http://riyah6.blogspot.com
Tax refunds in November?
Market upswings are not sustainable for as long as the economy continues to slow down. The financial services sector got its relief but Main Street does not relate to it at all. Consumer spending might not play the biggest role in the economy but undoubtedly, it is the driving force to get the wheels going.
Store closings, bankruptcy notices, foreclosure signs, credit card companies slashing down credit limits, small businesses reducing employee benefits, etc. are some of the realities prevalent on Main Street. This does not do anything to restore consumer confidence neither does the news of capital injection into financial markets. The complexities of Wall Street are beyond Main Street. Families who live paycheck to paycheck do not know what this means to them. All they know is that they are hurting and unable to meet their financial obligations.
They are angry and demand change. They are so angry that their emotions are far stronger than recognizing the consequences of the most important right they are about to exercise, the right to vote. We should give them the financial relief needed now and not after the elections.
Americans should be enabled to spend.
Why not give them back some of their money which make up the 700 billion rescue package. In my previous blog, I suggested providing temporary financial vouchers designed for specific needs- gasoline costs, food, heating bills, mortgage or rent payments and healthcare expenses.
The direct benefits provided to Americans by these temporary economic aid package will restore their confidence that has been eroded for a long time.
Give the American people some of their money back and watch the market stabilize.
http://riyah6.blogspot.com
Store closings, bankruptcy notices, foreclosure signs, credit card companies slashing down credit limits, small businesses reducing employee benefits, etc. are some of the realities prevalent on Main Street. This does not do anything to restore consumer confidence neither does the news of capital injection into financial markets. The complexities of Wall Street are beyond Main Street. Families who live paycheck to paycheck do not know what this means to them. All they know is that they are hurting and unable to meet their financial obligations.
They are angry and demand change. They are so angry that their emotions are far stronger than recognizing the consequences of the most important right they are about to exercise, the right to vote. We should give them the financial relief needed now and not after the elections.
Americans should be enabled to spend.
Why not give them back some of their money which make up the 700 billion rescue package. In my previous blog, I suggested providing temporary financial vouchers designed for specific needs- gasoline costs, food, heating bills, mortgage or rent payments and healthcare expenses.
The direct benefits provided to Americans by these temporary economic aid package will restore their confidence that has been eroded for a long time.
Give the American people some of their money back and watch the market stabilize.
http://riyah6.blogspot.com
Tuesday, October 14, 2008
Can we now take care of the taxpayer?
With the injection of capital in our financial system, I suppose that banks now feel assured and so is Wall Street. As Senator McCain rightfully have said, the 700B rescue plan is merely a "tourniquet" to stop the bleeding. For the most part, steps undertaken todate are temporary subject to government oversight and review.
We'll have to watch and see how the process evolves. However, Main Street is asking, what about me? I hope that future action by the big trinity, Paulson, Bernanke and Bair will involve an economic stimulus that gets spending money into the hands of middle America. To restore consumer confidence is to allow taxpayers to meet their needs and feel that they are not restrained to spend.
After all, without the taxpayers' money, we would be unable to overcome this crisis brought about by the abuses caused by mainly Democrats and a few Republicans who ignored Senator McCain's concerns over the runaway train which is Freddie Mac and Fannie Mae.
Much of the discussions revolve around the consumers' access to financing but most everyone on Main Street are already in debt. Credit should be available only to those who qualify for it. We should keep this in mind or we'll find ourselves in another runaway train.
Middle America has very limited funds to meet their basic needs- food, shelter and clothing. It is painful to see them stretch their dollars in the supermarket, forego the protection they need because they cannot afford the insurance premiums and unable to pay rent and utilities. I am faced with this situation on a daily basis and have that lump in my throat every time.
Main Street needs help. Now.
http://riyah6.blogspot.com
We'll have to watch and see how the process evolves. However, Main Street is asking, what about me? I hope that future action by the big trinity, Paulson, Bernanke and Bair will involve an economic stimulus that gets spending money into the hands of middle America. To restore consumer confidence is to allow taxpayers to meet their needs and feel that they are not restrained to spend.
After all, without the taxpayers' money, we would be unable to overcome this crisis brought about by the abuses caused by mainly Democrats and a few Republicans who ignored Senator McCain's concerns over the runaway train which is Freddie Mac and Fannie Mae.
Much of the discussions revolve around the consumers' access to financing but most everyone on Main Street are already in debt. Credit should be available only to those who qualify for it. We should keep this in mind or we'll find ourselves in another runaway train.
Middle America has very limited funds to meet their basic needs- food, shelter and clothing. It is painful to see them stretch their dollars in the supermarket, forego the protection they need because they cannot afford the insurance premiums and unable to pay rent and utilities. I am faced with this situation on a daily basis and have that lump in my throat every time.
Main Street needs help. Now.
http://riyah6.blogspot.com
Sunday, October 5, 2008
Exercise your vote responsibly
As election day draws closer, both parties are pushing for change. However, we all have to be careful to not go over the line to radical change.
It is very easy to be led into joining the forces leading the way to change. They are expertly sowing seeds of discontent, stirring up anger about the dire financial situation of the masses, and rallying support at the grassroots. Read that again and what comes to mind? I can name radical leaders from the past and present. You can too and isn't that scary?
God bless America.
http://riyah6.blogspot.com
It is very easy to be led into joining the forces leading the way to change. They are expertly sowing seeds of discontent, stirring up anger about the dire financial situation of the masses, and rallying support at the grassroots. Read that again and what comes to mind? I can name radical leaders from the past and present. You can too and isn't that scary?
God bless America.
http://riyah6.blogspot.com
Saturday, October 4, 2008
Insurance stocks tumbled, why?
To err is human.. all right but on an issue that is market sensitive, we expect our leaders to think twice before offering a statement especially in the absence of factual information.
Unreal and scary that we have elected officials who legislate on important issues they do not know much about. Another example of why our government system is broken.
People I know on Main Street lost money because Sen. Reid mis-spoke. He retracted his statement but the damage is done. It is beyond repair. The bill is coming your way.
By the way, just in case your staff has not told you, insurance companies cannot operate without the required cash reserves to protect their policy and contract holders. With due respect, it was totally irresponsible of you to talk about a well known insurance company going bankrupt and it is not.
http://riyah6.blogspot.com
Unreal and scary that we have elected officials who legislate on important issues they do not know much about. Another example of why our government system is broken.
People I know on Main Street lost money because Sen. Reid mis-spoke. He retracted his statement but the damage is done. It is beyond repair. The bill is coming your way.
By the way, just in case your staff has not told you, insurance companies cannot operate without the required cash reserves to protect their policy and contract holders. With due respect, it was totally irresponsible of you to talk about a well known insurance company going bankrupt and it is not.
http://riyah6.blogspot.com
Thursday, October 2, 2008
Stop the Train
As the days pass, the dark clouds caused by the huge financial bailout appear to dissipate with Warren Buffett, Wilbur Ross and others who we have not heard from, bringing their sound business sense and financial expertise to the table.
In my earlier blogs, I have suggested to consult with industry experts before legislating especially on issues that carry a 700B price tag. There is an alternative solution and it comes from people who work with Main Street. Bernanke, Paulsen, Cox and others who are on the train are all far removed from Main Street.
Once again, legislators led by Harry Reid, Pelosi and others including some Republicans demonstrate what they do best- complicate the situation and create loopholes and gray areas that will get them back to the table to iron it out years later. That's how they keep their job. The job is not done they tell the taxpayers and their constituents have to keep them there.
Paulsen's 3 page proposal has mushroomed to over 400 pages and includes provisions for wooden arrows, rum and what else? It is a disgrace to put it mildly. One can understand why Main Street has lost its confidence in the system. I'll say it again- rescue the taxpayer, insulate them from the mess they did not create, part of the 700B bailout should directly go to Main Street to allow them to meet their mortgage payments and basic needs while the brightest of the bright minds, Buffett and Ross included, help out with this financial crisis calmly. This is what Main Street is looking for.
Stop the train. There are others who should be on board who can help us all get to where we should go.
http://riyah6.blogspot.com
In my earlier blogs, I have suggested to consult with industry experts before legislating especially on issues that carry a 700B price tag. There is an alternative solution and it comes from people who work with Main Street. Bernanke, Paulsen, Cox and others who are on the train are all far removed from Main Street.
Once again, legislators led by Harry Reid, Pelosi and others including some Republicans demonstrate what they do best- complicate the situation and create loopholes and gray areas that will get them back to the table to iron it out years later. That's how they keep their job. The job is not done they tell the taxpayers and their constituents have to keep them there.
Paulsen's 3 page proposal has mushroomed to over 400 pages and includes provisions for wooden arrows, rum and what else? It is a disgrace to put it mildly. One can understand why Main Street has lost its confidence in the system. I'll say it again- rescue the taxpayer, insulate them from the mess they did not create, part of the 700B bailout should directly go to Main Street to allow them to meet their mortgage payments and basic needs while the brightest of the bright minds, Buffett and Ross included, help out with this financial crisis calmly. This is what Main Street is looking for.
Stop the train. There are others who should be on board who can help us all get to where we should go.
http://riyah6.blogspot.com
Tuesday, September 30, 2008
From where I sit
It is plain to see why James Carville wants Sarah Palin's take on the financial bailout. He knows better but it is his job to stir up a discussion to put it mildly. When you think about it, to respond is to allow him to carry on further. Find another job James.
Senator Obama will be more credible after a few more years as a public servant. If one really means to serve other people's interest besides his own, talking about the needs and concerns of middle America during an election campaign is not sufficient to get a full understanding of the critical areas of life on Main Street. If Senator Obama lives on Main Street, that would be different. I think that you're rushing it, Mr. Obama, going for the top too soon. This only demonstrates that you are out there to serve your own interests. There's a long road ahead of you.
News reporting does not serve anyone's best interests. Competition drives it. It doesn't matter who is delivering it because how they deliver is aligned with their company's business proposition and goals. You can't bite the hand that feeds you. Who is harmed in the process? The consumer, the listener on Main Street. Give us the facts without the spin. Report the news as a public service, provide information to help the average person process the facts as they know it and allow for intelligent discussion among themselves.
I wish life in these united states is as simple and refreshing as those anecdotes I read about in the Readers Digest's Life in these United States while growing up. Listening to the news nowadays leaves a bitter taste in your mouth, it disillusions and taints hopes for the future. The change we need can only be delivered by a leader who believes that we live for a purpose greater than serving our own interest.
Who do you think fills the bill?
Senator Obama will be more credible after a few more years as a public servant. If one really means to serve other people's interest besides his own, talking about the needs and concerns of middle America during an election campaign is not sufficient to get a full understanding of the critical areas of life on Main Street. If Senator Obama lives on Main Street, that would be different. I think that you're rushing it, Mr. Obama, going for the top too soon. This only demonstrates that you are out there to serve your own interests. There's a long road ahead of you.
News reporting does not serve anyone's best interests. Competition drives it. It doesn't matter who is delivering it because how they deliver is aligned with their company's business proposition and goals. You can't bite the hand that feeds you. Who is harmed in the process? The consumer, the listener on Main Street. Give us the facts without the spin. Report the news as a public service, provide information to help the average person process the facts as they know it and allow for intelligent discussion among themselves.
I wish life in these united states is as simple and refreshing as those anecdotes I read about in the Readers Digest's Life in these United States while growing up. Listening to the news nowadays leaves a bitter taste in your mouth, it disillusions and taints hopes for the future. The change we need can only be delivered by a leader who believes that we live for a purpose greater than serving our own interest.
Who do you think fills the bill?
Monday, September 29, 2008
Rescue the Taxpayer
Much ado about the financial bailout. It's just as well it got voted down. It was the wrong move. The market tanked big time but the world did not come to an end. Only a higher power can do that. It's critical that another alternative is pursued immediately.
A 700 billion bailout of Wall Street does not serve the interests of the taxpayer. Middle class America is already heavily burdened unable to pay for gas, groceries and meet mortgage payments and other credit accounts. No surplus income to spend on anything else. It is no wonder that the state of the economy has been at an all time low and the powers that be have been looking the other way serving their own interests.
The financial crisis we are faced with has been a catastrophe waiting to happen. When it did, it was an eye-opener that got these powers that be scrambling to find a way to stop it. What do they do? They say that the taxpayers come first but we can't buy that. They indulge in partisan politics, and go about their jobs making sure they get re-elected. Outcome? Nothing gets done.
I offer a solution. The bipartisan members (if at all possible) should focus their efforts on existing regulations that get in the way to allow private investors to help revive these failed institutions. FDIC, SEC and Treasury should assist and facilitate in rewarding and compensating the private investors and at the same time hold the CEOs accountable for irresponsible management and lack of oversight by requiring them to turn in their golden parachutes. We should not allow the members of both houses to legislate on matters they have very little knowledge of. Economists, banking and financial experts should be at the table to provide their expert opinions. Only after then, should the legislators write the bill.
While this is going on, the taxpayers should be insulated from all of it. The rescue plan should focus on the taxpayer. Take half of the 700B and distribute it in some fashion to all Americans to help pay for gas, groceries, mortgage and credit accounts. They can buy whatever else they need and want. With the spending capability, the demand for consumer goods will be high that there will be decreased supply which will require increased production resulting in job creation.
Wall Street will do just fine and the media's appetite for sensational and partisan reporting will be on diet mode. It's fairly simple but we have a system that complicates it. For a purpose?
A 700 billion bailout of Wall Street does not serve the interests of the taxpayer. Middle class America is already heavily burdened unable to pay for gas, groceries and meet mortgage payments and other credit accounts. No surplus income to spend on anything else. It is no wonder that the state of the economy has been at an all time low and the powers that be have been looking the other way serving their own interests.
The financial crisis we are faced with has been a catastrophe waiting to happen. When it did, it was an eye-opener that got these powers that be scrambling to find a way to stop it. What do they do? They say that the taxpayers come first but we can't buy that. They indulge in partisan politics, and go about their jobs making sure they get re-elected. Outcome? Nothing gets done.
I offer a solution. The bipartisan members (if at all possible) should focus their efforts on existing regulations that get in the way to allow private investors to help revive these failed institutions. FDIC, SEC and Treasury should assist and facilitate in rewarding and compensating the private investors and at the same time hold the CEOs accountable for irresponsible management and lack of oversight by requiring them to turn in their golden parachutes. We should not allow the members of both houses to legislate on matters they have very little knowledge of. Economists, banking and financial experts should be at the table to provide their expert opinions. Only after then, should the legislators write the bill.
While this is going on, the taxpayers should be insulated from all of it. The rescue plan should focus on the taxpayer. Take half of the 700B and distribute it in some fashion to all Americans to help pay for gas, groceries, mortgage and credit accounts. They can buy whatever else they need and want. With the spending capability, the demand for consumer goods will be high that there will be decreased supply which will require increased production resulting in job creation.
Wall Street will do just fine and the media's appetite for sensational and partisan reporting will be on diet mode. It's fairly simple but we have a system that complicates it. For a purpose?
Subscribe to:
Posts (Atom)