> Yes. If you read the article it refers to our economic problems > entirely due > to a drop in exports to other countries that are experiencing recession > as > well as a chronic shortage of credit to fund business growth. IN other > words, all external influences.
Isn't this what everybody wanted -- a "global economy"? I though the mere act of engaging in international trade *created* wealth? Ahem. > And thanks for all that by the way. Im sure our unemployed will be very > grateful for the recession you foisted upon the entire world! And you're welcome then for all the sycophantic prosperity you enjoyed while our system was functioning properly and lifting everyone's boats up. Just to be clear: It was liberal interventionism that created the mortgage debt problem, it was inappropriate regulation of private lenders that *created* the sub-prime market (they were being attacked by the government and groups like ACORN for not giving loans to folks with bad or marginal credit, as federally mandated), and it was a failure to regulate the government-sponsored entities whose accounting practices where obviously wrong and whose bogus assets were the basis of mysterious international hedge funds, thanks to Democrats who blocked all such attempts, that allowed the problem to metastasize. All of this is a matter of fact anybody can find for themselves (another reason Waxman wants to regulate the internet). It was liberal interventionism (of a bipartisan variety) that has been blowing hundreds of billions on prescription drug entitlements, failed education programs, "making the world safe for democracy" and other do-gooder enterprises that have caused tens of trillions of dollars of debt to be accrued in a fairly short time span, historically speaking. Then one fine day somebody somewhere pulls a plug in the electronic trading system, and boom, we have a global crisis. And now the people largely responsible for creating the mess enjoy almost total power in our government and are taking the world further off the cliff of deficit spending in ways that defy the imagination. - Bob _______________________________________________ Post Messages to: ProFox@leafe.com Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/04e601c99163$3a3e21b0$aeba65...@rr.com ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
