about this blog
- Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company.
He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."
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movers
Cody- I am beginning to wonder if this thing can be fixed. It seems to me we can not get out of our own way. Tarp 1,2,3,4 + Stimulus 1 (busch), stimulus 2 (obamam), stimilus 3 (because number "2" was not a stimulus)+mortgage relief + toxic asset relief+relief for states and on and on. Add in that some states are possibly going to give IOU for state income tax returns....I think we should all give "IOU's" until this get's under control. Just write in IOU on you with holding forms and income tax returns (oh wait we can't do that we'd go to jail only politicians and guys who run the IRS can not pay taxes).
JED
It doesn't make any sense. I'm tired of things not making any sense. We need change. Not the change that politicians talk about in speeches, but REAL change. We need term limits. We need courage. We need accountability. We need performance. We need cooperation. We need oversight. We need a third, fourth and fifth political party. We need direction. We need true freedom. We need energy independence. We need mass transportation infrastructure. We need simplification. We need statesmen.
JED
Who's going to pay for all of this? Me? My kids? I can barely afford to pay my mortgage (but I AM paying it). Our government is spending cash like drunken sailors in a whore house. Let's just print the actual stimulus dollars and burn them - harness the energy of igniting Trillions of paper dollars and begin our course to energy independence. Why don't we lift the inheritance tax? These are REAL dollars, locked away in trusts (banks), just waiting for the day in which they can flow into the economy. We'd have a significant number of "new" millionaires that could begin to spend their "new found" riches in the economy. You want liquidity, give the people their money without imposing penalties. Why can't a Father write his daughter a check larger than $12,000 without paying taxes on the transaction?
JED
I've got a novel idea. Assuming we're going to give tax dollars away, why don't we give them back to the people contributing them in the first place? We can take our money, pay off credit card debts, mortgages, medical bills, property taxes, etc. Some of us might even take the rebate check and deposit into our BANKING ACCOUNTS (gasp)! Isn't this pure genius! If you give the money back to the taxpayers, most of it will end up in the hands of bankers anyway! You want to provide liquidity into the market, then give my money back to me, not the bank! The solution to our banking and consumer liquidity issue is to quit robbing the taxpayers! If consumers have more money, then they'll pump it into the banking system themselves! I don't bury cash in my backyard or stash it in my mattress/freezer. I deposit my funds into a bank - then they have my money - then they can lend my money. Why does the government think that I'm going to agree to give a bank my tax dollars so that they can lend it back to me at a high interest rate? Just give me MY money and I'll give it to the bank with NO interest rate.
JED
OK - I've heard just about enough from every crooked SOB making decisions at the Congressional and Executive level. They continually try to trick every "Joe Six Pack" into believing that pumping an insane amount of their tax dollars into the banking system is going to benefit the economy/country/consumer. Stop trying to pull the wool over everyone's eyes! You actually think that we believe you? You think that I'm naive enough to go along with this for any longer? You're telling me that the solution to our problem is to take TAX dollars out of my pocket and give them to large banks on the brink of collapse? We're doing this to benefit whom? Me? You want to take my tax dollars and give them to banks that lend the tax dollars back to me at a high interest rate (assuming they're lending at all)? When are we going to wake up? When are we going to take a stand?
BillyV
The government lead by the Federal Reserve cartel cannot fix things. No amount of meddling by those racketeers will EVER fix things, because it was their own tampering with the free market that caused the problem to begin with. It's a joke. The market itself is the ONLY thing capable of fixing things. Simply allow the bad debt to liquidate, allow the market to set it's own prices, and in a year's time all of these problems will be over. Keep tampering with it and we will be in for a worse depression than we've ever known - perhaps even collapsing the dollar itself.. Keynesian economics with it's emphasis on spending and bailouts has proven to be a deeply flawed system and it has to go.
Hollis Smith
I could not agree more with your veiw of the facts. The worst part is that they are true facts. Barney Frank, Chris Dodd at the pinical and a cast of circus members on down the line doing what is best for us. PLEASE?
Hmm?
Thank you. Excellent point of view. Get a Haircutt.
Steve
amen. keep hammering these nincompoops to expose the perversity of the situation caused by their special interest kowtowing. and while you're at it, how about coming up with a list of of candidates for coming elections that are more interested in serving the people than themselves. let work to get real americans back in charge
Jean Nelson
And the financial system was all being over seen by the notorious Barney Frank Guess what when you still have the fox guarding the hen house not much is going to change