I disagree. Bush43 disregarded the advice of Baker and Scowcroft among others regarding Iraq as well as the advice of his father. Globlaization has been trumpeted by writers like Tom Friedman- as well as his support for the war along with Hillary Clinton- so that a combination of job loss and a trick ending to Frank's breezing into Baghdad had disastrous consequences for the economy. Easy credit did not begin with Bush43. It should be called Difficult/Dangerous credit because it has sucked in all areas of the economy and will affect those who did not participate in risky spending/ non-saving. The economy under Bush41 was beginning to come around at the end of his term but the Clinton administration reaped the credit.
On Nov 20, 4:20 pm, VT Sean Lewis <[EMAIL PROTECTED]> wrote: > Bush Jr used the same people as Bush Sr. > after 4 years of failed governance under Bush the > elder, is it any wonder 8 years with the same idiots > created expodentially worst results? > > Obama is tapping on the individuals who fixed the > mess from the first Bush administration to fix > the bigger mess from the second Bush Administration! > > On Nov 20, 7:08 am, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > I predicted 7500- maybe that was too optimistic. Your post is > > realistic. Obama's celebrity will last only so long esp as he appoints > > retreads to his cabinet.//How does one un-spoil brats? > > > On Nov 19, 8:18 pm, Jim Willis <[EMAIL PROTECTED]> > > wrote: > > > > Gee Wally; though I am hesitant to say I told you so, I did. As the > > > Dow races to 7000 my prophetic, prescient, almost clairvoyant > > > predictions of an economic apocalypse are tragically coming to > > > fruition. Yet, it will get much, much worse; trust me. The vaunted > > > $700 billion, “shuck and jive” has been as effective in loosening > > > credit markets as Al Gore has been at losing weight. He’s still a fat > > > bastard and our financial markets are circling the bowl. Here’s what > > > you need to know. > > > > It’s too late to prop up our financial markets. The fire started by > > > Democrat holdovers, flunkies and thieves in Fannie Mae and Freddie Mac > > > has spread from our financials to industrials and even to internet > > > advertising; ala Google’s dive today. Also note Yahoo is almost free > > > and CBS is on life support at $5.00 a share. My point; every sector of > > > our economy is in full nose dive. > > > > Just for kicks, let’s quickly stroll down memory lane and examine the > > > cause of this winter of our discontent. Democrat hacks at Fannie and > > > Freddie used sex, lies and videotape to cook the books, receive > > > millions in target bonus’s and got congress to look the other way by > > > bribing Democrats in the senate, “when republicans were in charge” and > > > by bribing a lot of Democrats when they were in charge. Who said > > > public service doesn’t pay? As republicans and President Bush were > > > ringing the bell and shouting fire, democrats and the media minimized > > > the alarm while shouting, “Racists pigs”. > > > > Fannie and Freddie currently hold $6 trillion dollars in toxic > > > mortgages but, that doesn’t tell the whole story. Through the halls of > > > these evil twins passed $50 trillion dollars in toxic mortgages. These > > > mortgages were explicitly given to unqualified buyers, bundled > > > together in hundreds of billions of dollar packages and securities > > > were sold around the world with the collateral being these toxic, > > > worthless mortgages. All the while, Democrats fiddled, as the world > > > burned. As these mortgages defaulted, the securities backed by them > > > became worthless. Companies holding these securities, overnight had > > > seen their balance sheets lose trillions. The financial markets went > > > into freefall. As the tsunami swept through the financials credit > > > markets froze. Industries hadn’t the ability to short term borrow. > > > Major stock indexes tanked; oil futures spiraled and even deflation of > > > macro commodities ensued. It turned out to be an excrement sandwich. > > > And, it’s only begun. It will get biblical; trust me, I have predicted > > > this all. > > > > As expected, Democrats will bail out the car companies, insuring that > > > they will indeed fail. This will spike unemployment into double digits > > > and continue the domino sequential falling of economic indicators. > > > While deflation will headline on the world stage, briefly, our most > > > merciful government, under the messiah, “Barry O” massive capital > > > infusions into the economy will rush, “fresh of the printing presses” > > > into the economy, causing inflation percentages of 1000 percent; > > > minimum. Prime Fed rates will approach 25% in an effort to curb > > > inflation. The housing market will be destroyed, along with the seven > > > or eight hundred businesses’s relying on it. > > > > A world wide depression will ensue. Yet, it will be a gradual decline; > > > much like easing into a too hot bathtub. At the height of the second > > > great depression America will have a 70% unemployment rate. Most > > > workers, “still employed” will be employed by the government. There > > > will be a 30% homeless rate and the end of western civilization will > > > be at hand. In the first great depression America was much more rural, > > > more self sufficient. Today we are more urban, more dependent on > > > government, more hapless. We’ve lost that rugged individualism that > > > our founders embodied and this nation was born with. We are spoiled, > > > rich and sassy; unable to hunt, to fish, to grow our own food. > > > Still, pause and reflect if you will, for in every calamity there is a > > > teachable moment. Perhaps, just perhaps, as the phoenix rises from the > > > ashes, whenever that future time is, it will be ingrained into the > > > American psyche and told around the campfires dotted across these > > > fruited plains. Liberalism is not tenable, it never was. > > > Conservative Springfield 20 NOV 08- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
