Homestead mailing list

["Lynda" <lurine AT com-pair.net>]

I think a number of things got us into this current mess and that it will 
only get worse but not for the reason state "When half the people get the 
idea that they do not have to work . . ."

I was listening to some nut financial wizzard that was on one of the yapping 
news programs DH watches each morning.  Blah, blah, blah about how the folks 
commonly known as the working poor don't pay income taxes.  All they pay is 
payroll taxes.

That is just plain scary that some supposed financial wizzard, some 
economist doesn't know or understand what payroll taxes include.  That he 
either doesn't know or understand that the working poor pay taxes.  They may 
not pay much but they do pay income taxes.  This guy went on and on about 
how they never pay any money in and all they do is take money out.

Per capita, based on relative income, the working poor put more money into 
the economy than the working class and the middle class.  What they don't do 
is keep the banks running by stashing money in savings accounts or play the 
stock market.

Lynda
----- Original Message ----- 
From: "Leslie" <cayadopi AT yahoo.com>

One more thing...skip if not interested in what is going on economically.

http://financialsense.com/fsu/editorials/andros/2009/0130.html


highlights: Pinnochio Bush increased Fed budget by 60% in 8 years,,, Obama 
is increasing it an additional 25% in his first 3 months.

US citizens are financially illiterate, and basing their decisions on phoney 
numbers/statistics produced by a government who knows the citizens are 
financially illiterate.

Chinese & other foreign investors - purchases of US Treasuries dropping off 
the cliff. Only buying 1-3 year maturity dates. (FYI - this is potentially a 
financial nuclear bomb for the US - as all they have to do is not rollover 
at maturity.)

A quote from Ayn Rand in the article:

""You cannot legislate the poor into freedom by legislating the wealthy out 
of freedom.
What one person receives without working for, another person must work for 
without receiving.
The government cannot give to anybody anything that the government does not 
first take from somebody else.

When half of the people get the idea that they do not have to work because 
the other half is going to take care of them, and when the other half gets 
the idea that it does no good to work because somebody else is going to get 
what they work for, that my dear friend, is about the end of any nation. You 
cannot multiply wealth by dividing it."
John Gault/Ayn Rand"

UK on its way to follow Iceland.

And just how bad things are getting at the banking level,, how close to 
collapse.

Stuff like that.