I talked with Bob for about an hour today about the present financial crisis. We get into the following topics: deregulation, individual debt, media consolidation, Machiavelli, the election, and much more. Just click the play button above to listen. Enjoy.
Tip from Louisa: Don’t try to add a comment while the audio is playing because it will reload the page and cause the interview to start over from the beginning.
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Great job, Wes! A bit fast on the changes of visuals for me perhaps, but great! Loved hearing Bob….a new career for you Bobby! Wesedholm.com pundit!
We’re heading down to Mexico in November and I hear some interesting stories about the economy down there. I’m going to start up my blog again and will let you know what’s up.
Oops….I just made a comment and it stopped the replay of Mr Wiz…
I am against this bail out but the reality is, something has to be done…and then something must be done to make sure this doesn’t happen again. Many of us depend on the capitalism system for our lives…I am willing to pay interest on a mortgage for my home and in return, I get some profits from my payments when I sell my home…they make money and I get some return on my cost of housing. I also invested myself and my assets to be able to do this. One of the problems we currently are facing is ownership with no investment.
We were approached by a fellow who is building a home here and a mortgage broker, to remortgage our home for 100% equity and a ridiculous interest rate….seriously, something like 2 or 3 percent, perhaps lower….with a balloon in x amount of years….come on! Then we would be able to reinvest this money into further real estate and do the same thing…and in return, he would make points on getting this mortgage and the mortgager would resell the mortgage in a package, earning points, to some large investment house….and on and on and on….
Ahhh….isn’t it interesting? The rich get richer and they keep it!
This quote from Thomas Jefferson seems appropriate
The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.
No black friday… I’m guilty of fear mongering and sensationalism. Easy to get carried away.
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