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Monday, September 29, 2008

Knowing When To Shut Your Mouth

My Austin friend and fellow Baptist - Texas in Africa - has an interesting post on the economy that you should check out. TIA writes:
A colleague and I were joking a few minutes ago that it seems like there's finally an advantage to being graduate students with no assets, but as Committee Member #3, who's less than five years from retirement, pointed out, it's not funny at all for those whose retirement accounts are up in the air. And that's the problem: something has to give, but letting the foxes write their own legislation isn't a very trustworthy solution.
It is true that most college kids and graduate students don't have a dime to their name and are likely drowning in debt. However, there are at least a few graduate students who do have a decent-sized portfolio and who have attempted to save and invest their money wisely. In the rare instance, a handful of us have "earned" our $$ the painfully hard way. But in most cases, the graduate student with a portfolio has busted his or her rump over the past handful of years working a real world job. One of my best buddies from Georgia is a great example. He's a Techie (GA Tech), a helluva engineer who works dang hard during the day, goes to MBA school at night, and has a wife in medical school. He's smarter than me when it comes to managing money and economics and his portfolio is probably much better off. But everybody is hurting and everybody is waiting for that rebound which at the moment, I'm not sure if it's gonna come....And as TIA points out, this crisis is definitely not funny to those with retirement accounts especially those who had hoped to retire sooner than later.

Which leads me to my main point in this rant:

Nancy Pelosi is a moron...the moron of all morons.

This is coming from a Democrat might I remind you. But Pelosi stinks. After her stunt from the floor today, I'm convinced she's not fit to be Speaker. Step down and please, oh please let someone else with a little more common sense step up. I usually have faith in the Democratic Party. I have no faith in Nancy Pelosi and any respect I had for her just went out the window this afternoon along with enough money to keep my belly full for another 8 months.

The Republicans aren't blameless. Minority Leader John Boehner did an absolutely horrible job of bringing his fellow House Republicans on board. When it came time to deliver, Boehner failed miserably. But in what was supposed to have been a bi-partisan effort, Pelosi took to the floor of the House and started bad-mouthing Bush and the GOP. Wow, good move there Nancy!!! Sometimes you just gotta know when to shut your mouth.

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8 Comments:

Blogger Georgia Mountain Man said...

Amen, brother. Nancy could have left well enough alone. The Republicans would have still voted against it, but now they can blame her instead of taking the heat themselves.

4:32 PM

 
Anonymous Karen G said...

95 Democrats voted no, so there must have been other problems.

6:23 PM

 
Blogger texasinafrica said...

Thanks for the link. Pelosi is one of those D's that I feel like never helps anything.

But do you really think people changed their votes because of her speech? From what I heard, it had more to do with a fight over R's who wanted to include a provision about the capital gains tax.

7:07 PM

 
Anonymous Lee said...

This particular verson of the bill was essentially the one leading Republicans wanted. The Democrats wanted a bill that would do more to protect individual homeowners, and provided tighter regulation of mortgage companies and banks. It was the Republican leadership, pushing their own bill, that failed to deliver. I don't think you can blame Pelosi for that. Now, however, the Democrats will have a chance to pass their own version of the bill, which will not be so protective of big business.

5:28 AM

 
Blogger Ken Coffee said...

I certainly agree with Aaron about Mrs. Pelosi, but in my opinion if they would reduce the capital gains tax to 10% or 0 it would infuse billions into the system as investments would flourish. That would put enough cash in play to solve the problem. When the problem is solved, then they can go back and adjust the capital gains tax.

12:21 PM

 
Anonymous KarenG said...

Here's yet another explanation: opposing the Bush administration as a campaign strategy.

"Challengers and open-seat candidates were the quickest to denounce the package as inadequate, ...Democrats who came out against the bill were casting it as President Bush’s proposal, even as congressional Democrats spearheaded the final measure.

In the end, the vast majority of vulnerable incumbents voted against the bill, including a slew of freshman Democrats, three of the four House members running for Senate, and almost all vulnerable Republicans." (from The Hill)

It's bipartisan!

1:18 PM

 
Blogger Phil Hoover, Chicago said...

I will be glad to see George W Bush and Dick Cheney leave Washington once and for all...

1:28 PM

 
Blogger The Whited Sepulchre said...

"The Republicans aren't blameless. Minority Leader John Boehner did an absolutely horrible job of bringing his fellow House Republicans on board. When it came time to deliver, Boehner failed miserably."

Thank God for John Boehner, and praise the Lord for his "incompetence". We should begin building larger-than-life statues of him in every town square in America. This would have been the biggest fleecing of a gullible public since the S&L bailout of the 80's. (And with many of the same clowns at the helm.)

4:47 AM

 

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