Your Questions About Debt Busting

Mary asks…

Will Republicans ever take responsibility for the sorry state of affairs in this country?

It seems that every thing tht goes wrong, they just balme it on the Dems, and when ever anythinig goes correctly, they take credit. Do they have no scruples at all? What happend to the Republican party of the 80’s?

John answers:

I totally agree, but you have to remember in the 80’s the Republicans were only in power in the Presidency. They were the minority in the House and the Senate. The good years of the 80’s were ruled by Democrats.

Limbaugh, Gingrich, and Bush really forever changed the Republicans for the worse. Bush really did. They changed it to a “My way or the highway” kind of mentality for the Republicans.

One thing I have to give Bill Clinton credit on is that he worked with the Republicans. Same goes with Reagan and working with the Democrats.

We need political representatives that quit playing party politics. We don’t need representatives that just vote along party lines. We need some that can actually think for themselves and will take a stand to do the right thing, not just do whatever helps them keep some seat on a committee or that gets them funding for some pet project.

Doc needs to do a reality check. I grew up a Republican and still hold many Republican views. I’d consider myself a “true” conservative, meaning less government. The Republicans have gotten away from that. And Doc is evidence of how Republicans aren’t taking responsibility. It has been 8 years since Bill Clinton was president. What the previous president does usually carries over for about 2 years. After that, it’s all to blame on the current president. We are in the final years of Bush’s presidency that was controlled for at least 75% of the time by a Republican congress. Who else can be blamed but the Republicans for the current mess?

Bush and the Republicans wanted a weak dollar to make US goods more competitive with cheap goods from other countries. They got it. The result, a super weak dollar, causing oil prices and other commodities to skyrocket. Bush and the Republicans wanted less restrictions on credit cards and banking. The results were higher penalties, higher interest rates, etc. Bush and the Republicans wanted a war with Iraq. The result is our military is overburdened, thousands of soldiers dying, oil skyrocketing, billions of dollars spent, and spending racking up more debt than all of the previous US presidents combined. And of course, Bush’s tax rebates helped add up to that approximately $530,000 national debt per household which is ridiculous.

The dot com bust happened under Bush. The power failures happened under Bush. The Enron scandals happened under Bush. September 11th happened under Bush. The worst foreclosure rate since the Great Depression happened under Bush. The worst gas hikes in US history happened under Bush. And that’s just a short list of some of the bad things him and Republicans are mainly responsible for.

As far as the national debt, lets compare Bush to Clinton. Oh yeah, Clinton managed to pull off a balanced budget compared to Bush who racked up more debt than all of the previous presidents combined.

Needless to say, I can’t trust a president much when he pays off retired generals to say the Iraq War is going good. And I can’t in good conscious support a president when he has his lawyer at the time (Gonzalez) ask then Attorney General Ashcroft to sign papers OK’ing wiretapping when Ashcroft is lying on a bed in a hospital after collapsing on a stage due to heart problems. Especially when Ashcroft said he wouldn’t sign them because he thought it was illegal. And I can’t support a president who pressures his OLC (Office of Legal Council) to write legal recommendations that they know make improper recommendations that are on the borderline if not crossing the line of being illegal. Knowing that if the Supreme Court rules those acts as illegal Bush could just go back to his Republican congress and ask them to change the law to now make it legal. And even if it is illegal, Bush gets off the hook claiming he was just following the recommendation of the OLC.

And I can’t support a party that supports that kind of president and his actions that have put our country in this current sorry state of affairs.

Mark asks…

Are moderates who have compromised with the left holding us back from winning?

Moderates have compromised and that is why we are near the fiscal cliff. Young people need to be told the truth… Social security is busted and they will not get back what they pay in since the left spent it all on entitlements for lazy people. Moderates never preach this which is why we lose.

John answers:

Young people can discover the truth the moment they pull their heads outta that place where the sun don’t shine.

Wonder how many of the lil darlin’s understand that it is THEY who will be paying most of the debt off. And the SS & Medicare of the two generations ahead of them, as well as their own, of course. And their own retirements, too.

No, I’d say the young folks are well and truly toast, and voting for opportunists like the Idjut-in-Chief only hastens that day when they’ll be even darker toast.

Helen asks…

Should the Royal Bank of Scotland control the Scottish economy after independence?

The Bank of England is uncomfortable about overseeing the reserves for a foreign country.

RBS, which was bought out by the British Government, is very generous with its bonus payments for its hardworking executives and traders, is well underwritten by the taxpayer, more than happy to bail out bad debts and pay malpractice fines, and has an exciting reputation buying out small companies for very little, after denying them cash flow at crucial times – a most profitable strategy for aspirational speculators. Does it truly represent Scotland though?

The Bank of Scotland (part of the Halifax Building Society and then of Lloyds Bank) and the Clydesdale Bank also issue currency notes in Scotland.

John answers:

Well if the royal bank of Scotland did control the Scottish economy then Scotland would go bust, since that bank is not fit for purpose.

Robert asks…

How to look for record highs and record lows on penny stocks?

Only record highs and lows, doesn’t have to be just penny stocks. Stocks under $10.

John answers:

You can do that several ways. Look for lists of stocks making new 52 week highs, or Advancing Stocks by volume or price.

Answered a similar question here:

Are you a trader? Do you have advanced trading knowledge for trading pennies?

We get a lot of newbies here that make the very critical mistake that a penny stock is a company that is just starting out or immature and just waiting to bust out. In fact, most penny stocks are priced so cheaply because the value and fundamentals of the underlying company is basically junk. The companies normally have very high debt, negative retained earnings, bad management, etc.

A trader trades liquidity of good companies, not junk. The “a priori” of trading is risk and liquidity. You are ignoring both. Pennies are very high risk and low or almost zero liquidity. Again, do you have advanced trading knowledge how to trade these conditions?

You might want to read this article about penny stocks, they are highly speculative and risky.

William asks…

Any suggestion or idea of how to solve the current financial crisis?

I mean do you have an idea to share what to do with all these sub-prime impacts on US banking system?

John answers:

If everybody stopped paying their mortgage and rent then the banks would all go bust and not be in a position to repossess, therefore everybody would have a lot more disposable income to start the circulation of money again. Most if not all credit debt would disappear and we could all laugh at the banking institutions who have ripped us all off for years. The only problem with this solution is people dont stick together

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