you are only telling half the story-- yes, Bush was all about unlimited deregulation, which allowed wall street investment banks to finance the mortgage industry, which caused the housing bubble, which has now popped.
however, if the people, including businesses, in the US had not succumbed to the oceans of easy credit previously available, and in effect become indebted more than at any other time in our history to the banks, the economic health of the country would not be so intrinsically tied to the health of the banks. whether we like it or not, and no one does, if the banks go belly up, so do we. we have no choice but to shore up the banks. so Obama has to shore up the banks, and at the same time create opportunities for economic growth in other ways. perhaps in the future, US consumers and businesses will learn to live within their means. so far they haven't. --- In FairfieldLife@yahoogroups.com, "raunchydog" <raunchy...@...> wrote: > > --- In FairfieldLife@yahoogroups.com, "curtisdeltablues" > <curtisdeltablues@> wrote: > > > > --- In FairfieldLife@yahoogroups.com, "Nelson" <nelsonriddle2001@> > > wrote: > > > > > Overheard in the diner, "I just received my stimulus package- a > > big> package of watermelon seeds and two chickens"> > > > > Oh I get it now. In the minstrel era of racist American history black > > people were associated with eating watermelons and chickens so they > > would seem to be a different (lower) type of human from white people > > (who coincidentally also eat watermelons and chickens.) > > > > And Obama is half BLACK! > > > > I totally get it now, this is a fantastic joke because it links the > > color of Obama's skin with a disagreement about a complex policy > > stimulus package that is attempting to solve a problem that the > > world's best economic minds totally missed! > > > > And if he doesn't instantly magically solve all these problems and > > figure out every detail in his fist few weeks in office even in the > > case of things he has no real control over... > > > > we can call him a watermelon and chicken eating black person because > > that is a way that we can make fun of him for being black and not > > solving all our economic problems at once in his first few weeks in > > office. > > > > Do I have that about right? > > Curtis, Thanks. I'll add "watermelon" and "chicken" to my politically > incorrect list. By the time Obama gets out of office, I'll be a > mumbling idiot devoid of vocabulary. > > Bush did his best to bankrupt the country. Obama is just another > corporate player trying to finish the job. Michael Hudson makes more > sense than any economist I've seen, including Krugman. > > Youtube: Michael Hudson interview with Amy Goodman > http://tinyurl.com/cyxzap > > Youtube: Michael Hudson interview with Renegade Economist > http://tinyurl.com/an379e >
