Did anyone watch Glenn Beck's program Friday at 5 pm? It did not paint an optimistic picture for our future (Dow at 2500, anarchy, worthless dollar---within 4-5 years). It was not "fair and balanced" in that the only experts were the ones predicting doomsday. Did anyone see it? Opinions???

Didn't see it but you only need to look at Japan for a comparison.

in 1989 the Nikkei index was around 38,000. It has gone down and down since then to around 7000 now. That is 20 years ago!!

Dow 2500? Possible.

In fact in 1990 the Elliot wave people (Robert Prechter) thought that we'd need to get to Dow 1000 eventually in order for the market to normalize.

I should have listened!

Did he have any proposals as to what to do about the impending disaster? I would guess that he didn't. He may turn out to be right, but we shouldn't forget that TV and radio personalities like Beck, as well as many columnists on both sides of the political spectrum make handsome livings by alternately titillating, terrorizing or enraging their watchers or readers. That's what they get paid to do. (Actually, they get paid to get high ratings so advertising can be sold.) But to put much more weight on what they say beyond any other entertainment show probably doesn't add much to our basis of real knowledge on complicated subjects.

But I do hope his projections are wrong!

Too many scare mongers on both sides. This is what people don't want. Guess that is one of the problems with Radio - TV and papers they all promote the worst and try to outdo one another.

Originally Posted by Villages Kahuna

Did he have any proposals as to what to do about the impending disaster? I would guess that he didn't. He may turn out to be right, but we shouldn't forget that TV and radio personalities like Beck, as well as many columnists on both sides of the political spectrum make handsome livings by alternately titillating, terrorizing or enraging their watchers or readers. That's what they get paid to do. (Actually, they get paid to get high ratings so advertising can be sold.) But to put much more weight on what they say beyond any other entertainment show probably doesn't add much to our basis of real knowledge on complicated subjects.

But I do hope his projections are wrong!

Good question. As we sat there watching the description of the end of America as we know it, my wife kept saying... "so what should we do?" He answered the question in the last minute... "PRAY"... (I kid you not); on the other hand, the DOW dropping another 250pts today terrorizes me a lot more than Glenn Beck. Everyday we here another solution from the President (the latest was cut the deficit by half in 4 yrs)... and with each pronouncement the Market plummits some more. People are not stupid. How in the world will our govt be able to cut the deficit by half in the next 4 years with our boomer generation completely sucking life out of the treasury via medicare and soc security entitlements. hurry up.... print moredollars.

going some where you don't want to be....just get off....that my friends is called doing something about it.

Unfortunately that is not the American way (anymore). We the people would just a soon stay on the bus...complain about the destination...complain about how fast or slow or hot or cold it is....but still do nothing.

Yet the masses are either on or boarding the Obama/media chicken little express and not doing anything about it. Life as a whole is just not as bad as it is constantly, hourly, daily being rammed down our collective throats.

How stupid are we to allow the charade to continue?
Based on collective reaction to date....not too swift. The power of it is not in my back yard (YET!) is overwhelming.

Even here in TV we won't be able to hard ourselves long enough to sustain the Mad Maxx mentality.

BTK

Originally Posted by Guest

going some where you don't want to be....just get off....that my friends is called doing something about it.

Unfortunately that is not the American way (anymore). We the people would just a soon stay on the bus...complain about the destination...complain about how fast or slow or hot or cold it is....but still do nothing.

Yet the masses are either on or boarding the Obama/media chicken little express and not doing anything about it. Life as a whole is just not as bad as it is constantly, hourly, daily being rammed down our collective throats.

How stupid are we to allow the charade to continue?
Based on collective reaction to date....not too swift. The power of it is not in my back yard (YET!) is overwhelming.

Even here in TV we won't be able to hard ourselves long enough to sustain the Mad Maxx mentality.

BTK

BTK...I hope this is on topic with your post !!!

VKAHUNA is always asking for alternatives, ideas, etc. Yet, there seems to be little or no discussion on alternatives for all that is happening. Bush gave the first of the fund with little or no thought....The congress passed this HUGE VAST Stimulus bill with NO debate and no time to even read it and even the President didn't know all that was in it.

So that bus is traveling at a high rate of speed and someone must know what the destination is, but us riders cant get off as it is going so fast and we dont even know where and nobody is discussing it in front of us.

Guess my question is, since we have all but eliminated debate..who is driving he bus...President Obama, Nancy Pelosi, Harry Reid..........

I saw the show. Glenn has had several shows and has on many occasions given alternatives from idiocy Obama is shoving down our throats with the help of Pelosi and Reid.

Bush was very bad on spending. However, he was asked by Obama to put the first TARP through before he took office. They all had their hair on fire that the country would drop dead if they didn't do it. I knew that was a pile and so did many others.

As far as not putting up with it -- I didn't vote for these people. They have been piling up on the Congress for years. I didn't vote for them either. You cannot continue to have the attitude that the government should do everything and all this entitlement (i.e., health care, bank bailouts, prescription drugs, Non-existent global warming) without consequences.

We have to do what we can to get people in the primaries who are fiscal conservatives to run and unseat these baffoons.

Back to Glenn Beck, he is the only guy who has the right idea. It's his show, so he shouldn't have to put people on who talk stupid. Besides, I happen to agree with most of what he says. I did before he said it.

Originally Posted by Topper1

Too many scare mongers on both sides. This is what people don't want. Guess that is one of the problems with Radio - TV and papers they all promote the worst and try to outdo one another.

Topper: If you haven't watched the show or heard what he has to say, how can you judge. I mean why stick your head in the sand? Get involved.

Fight for this Country. We're not going to get a shot at it again. Preserve the Republic. Socialism is a failure. It takes away liberties and stifles free thinking, free speech, growth.

Read the Constitution. I'll venture to say most people have no idea what it says or means.

Originally Posted by TallerTrees

...Bush was very bad on spending. However, he was asked by Obama to put the first TARP through before he took office.

The genesis of the initial TARP funding wasn't as you described it, Taller.

The initial $750 TARP was requested by Treasury Secretary Henry Paulsen in a meeting with President Bush , who later described the meeting as "shocking". Paulsen described a frozen banking system and the probability of another Great Depression. President Bush approved Paulsen's request and asked Congress to authorize the expenditure, which was described in a simple three-page memo from Paulsen. The plan was then debated for about 5-6 days by Congress before the bill authorizing it was passed. That all occurred in the week before the final Presidential debate. Both candidates were campaigning and didn't return to Washington until a day or two before the final vote. They then left Washington to conduct the debate. Neither then Senators McCain or Obama were particularly prominent in supporting or rejecting the bill, saying little more than that something needed to be done.

Your comment that President Obama requested the TARP authorization before he took office is not only incorrect, but impossible. At the time the legislation was passed, the election hadn't even been held.

Glenn Beck is an alarmist and as close to Elmer Fudd as you'll ever get! Oh, and that wascally wabbit he keeps trying to catch are his sponsors!

Originally Posted by Villages Kahuna

The genesis of the initial TARP funding wasn't as you described it, Taller.

The initial $750 TARP was requested by Treasury Secretary Henry Paulsen in a meeting with President Bush , who later described the meeting as "shocking". Paulsen described a frozen banking system and the probability of another Great Depression. President Bush approved Paulsen's request and asked Congress to authorize the expenditure, which was described in a simple three-page memo from Paulsen. The plan was then debated for about 5-6 days by Congress before the bill authorizing it was passed. That all occurred in the week before the final Presidential debate. Both candidates were campaigning and didn't return to Washington until a day or two before the final vote. They then left Washington to conduct the debate. Neither then Senators McCain or Obama were particularly prominent in supporting or rejecting the bill, saying little more than that something needed to be done.

Your comment that President Obama requested the TARP authorization before he took office is not only incorrect, but impossible. At the time the legislation was passed, the election hadn't even been held.

ACTUALLY, President Bush released MOST of the funds (400 mill I believe) at the direct request of President Obama.

He had, on his own, released the first 350 but President Obama DID request him to release the balance, as President Elect !!!!

All 750 was AUTHORIZED prior to the election but only 350 was RELEASED until requested by our new President !

Kahuna: I know exactly how the tarp money went down. I gave you the bottom line. Obama was involved and not only as a Senator. Bush was very gracious in including him in the flawless handover. Normally, that would not have been done. All of this decision making on tarp was going to be in O's basket anyway. Paulson was the vehicle. He was the wet the bed guy that set everyone else up to screaming the sky was falling if something wasn't done in 10 minutes !

If you want step by step detail, I can do that, but I was assuming you knew. I was giving you the insider version.

Take it or leave it.

PS ms. chillsea: Why is it you call people names? I think it's because you don't understand and that's the easiest way to put your head in the sand. Glenn Beck is no Elmer Fudd -- perhaps you... oh no, I won't finish that thought ! If you find any shells

TallerTrees, I will save the shells. Perhaps they can be used as wampum after the disastrous economy left behind by your friend GWB and deregulating geniuses like McCain. Oh, and I don't call people names. I was talking about Glenn Beck. Beck = humanoid -- not the same thing.

Even the media espouses for example that he will address the nation to discuss the troubled economy "he inherited". Same for this forum at some point there will be an end to the continual base reference being the previous administration.

Having come from corporate America, there was no such thing as qualifying a situation as the one inherited....as a new head person (such as POTUS) we know why the previous administration isn't here....we know what they did or didn't do. You got the job to do it right.....so tell us what is to be done and when based on your plans...referencing the old regime is a waste of thinking peoples time.

Like all other executives the POTUS owns it from day one...the good, the bad and the ugly....no qualifiers...capable executives know better than to bad mouth who they replaced or reference any inuendo that this is not theirs because it was that way when he got there....

He didn't inherit anything! He went after the job....in it's entirety...

Looking over ones shoulder only develops a pain the the neck....but a little lower down for some of us!!!

BTK