Because we need some entertainment today

Some of my letters, from the past week:

Mr. President.

I’m well aware how serious what is going on in our economy is. We need leadership, and you are acting like a dog with his tail between his legs. I think that if you rolled up your sleeves, and went to the deliberative bodies, got dirty, and helped them get something worked out. I think it could help. I really doubt it could hurt.

Find a way to help them, work this out.

We need the old president bush, the one who rolls up his sleeves and gets dirty. The one that we elected.

Sincerely Eric Davis


Letter 2:

Representative Matheson.

I’m not sure if you know this, but the credit markets are so locked up that imports and exports can’t get the credit they need to get into and out of the country. I mean… I’m not smart congressional representative, but I think our economy needs imports and exports. It’s a very heroic thing that you did to ‘go with the flow’. I mean it’s not like our economy is falling one domino at a time, as the largest banks fall one by one. But what do your constituents need with money, or Credit. I didn’t realize you feel in line with the ideas of the KATO institute.

Well I’m sure you have a plan. I’d love to hear it.

Eric Davis

Letter 3:

Rep, Cannon.

The stories I have read, have you against trying to recapitalize banks.

I noticed on your blog that you mentioned the Washington Post article. Five Ways to Wreck a Recovery.

Interesting that you don’t mention:

· Blaming the messenger. Punishing the stock market for the 1929 crash was popular in Washington in the early 1930s. Lawmakers attacked the practice of short selling; Senate Banking Committee counsel Ferdinand Pecora hauled J.P. Morgan and other Wall Streeters in for hearings. By 1934, Congress was creating the Securities and Exchange Commission. The Roosevelt administration also prosecuted business leaders, including former Treasury secretary Andrew Mellon and utilities magnate Samuel Insull. The new regulatory culture cut crime and protected investors. But the arbitrary nature of the assault petrified Wall Streeters.

As America, Isn’t educated enough to realize there is no separation between “Wall Street” and Mainstreet, and that wall street is just an indicator of what is going on in the broader economy. Unfortunately most of your constituents are caught up in this idea of “Blaming Wall street”, not realizing that it’s the entire economy that is ready to Jump off a cliff, and that they are just blaming the messenger.

Sen. Reed Smoot and Rep. W.C. Hawley proposed a tariff that was to raise effective duties by as much as half. More than a thousand economists signed an open letter warning that the duties would "raise the cost of living and injure the great majority of our citizens."

It’s funny. Smoot-Hawley was favored by the population and was part of what got Hoover elected, It’s unfortunate that sometimes what is popular politically sometimes isn’t a good idea. It also makes me realize that most the business leaders and economists Buffet, Jack Welch, Volker, Pimco are in favor of the measure.

Seems like this is one of those moments when some people will exacerbate a problem and will become the new “Smoot-Hawley’s”, and some people will show some Integrity, and take the hard path, and do what is needed to help keep the economy and keep it from Jumping off a cliff, Tax cuts and deregulation are not going to be enough.

When you and your staff, get done and make your decision. I’ll be excited to hear your justifications for how you voted. I honestly hope this is just political posturing, and you’re just tipping your hat to all this Populist sentiment, and you’re ready to make the prudent responsible adult decision.

Funny “5 ways to Wreck a Recovery”… Seems like we are still more in the Wreck than the Recovery.

Sometimes it’s important that our representatives LEAD constituents, and not Follow them.

I pray and hope that you can see through this mess, these aren’t easy decisions, and I hope you are up for it.

Eric Davis