The rest of the world hates the US but laughs at Australia. ************************************************* 1/20/2013 Eviction Notice
http://www.cafepress.com/rightwingmike/6169336 --- On Tue, 2/17/09, Geoff Flight <data...@adam.com.au> wrote: > From: Geoff Flight <data...@adam.com.au> > Subject: RE: [OT] Australian Government To Regulate Private Regularity > To: "'ProFox Email List'" <profox@leafe.com> > Date: Tuesday, February 17, 2009, 7:48 PM > You keep telling yourself that. The rest of the world knows > different. > > -----Original Message----- > From: profox-boun...@leafe.com > [mailto:profox-boun...@leafe.com] On Behalf > Of Michael Madigan > Sent: Wednesday, 18 February 2009 11:14 AM > To: ProFox Email List > Subject: RE: [OT] Australian Government To Regulate Private > Regularity > > > Australia has nothing without the United States. > > ************************************************* > 1/20/2013 Eviction Notice > > http://www.cafepress.com/rightwingmike/6169336 > > > --- On Tue, 2/17/09, Geoff Flight > <data...@adam.com.au> wrote: > > > From: Geoff Flight <data...@adam.com.au> > > Subject: RE: [OT] Australian Government To Regulate > Private Regularity > > To: "'ProFox Email List'" > <profox@leafe.com> > > Date: Tuesday, February 17, 2009, 7:33 PM > > Our economy is facing a downturn and POSSIBLE small > > recession. Your economy > > is facing at the very best, long term severe > recession. And > > the risk of > > depression is growing - not receding. Guess where most > > people would rather > > be living now? And our govt debt (up until last week) > was > > zero. And 3 months > > ago we had a 1.5% of GDP budget surplus. So we are > starting > > our deficit > > spending and borrowing program to keep the economy > ticking > > over starting > > from a point of zero debt and cash in the bank. This > is > > what good > > responsible and regulated economies do. They pay off > debt > > and put money > > aside during the good times and spend it during the > bad. > > That way when the > > rainy days comes you don't have to mortgage your > long > > term future to pay for > > your short term survival. > > > > -----Original Message----- > > From: profox-boun...@leafe.com > > [mailto:profox-boun...@leafe.com] On Behalf > > Of Bob Calco > > Sent: Wednesday, 18 February 2009 10:57 AM > > To: 'ProFox Email List' > > Subject: RE: [OT] Australian Government To Regulate > Private > > Regularity > > > > > > Glad y'all got that figured out. > > > > > > > > The only difference I see is you *had* > political > > pressure to keep > > > deficit > > > > spending to a minimum. We've had the > > opposite. Otherwise I see pretty > > > much > > > > the same problems manifesting. > > > > > > > > - Bob > > > > > > > > > > > Oh! And the tiny little fact that it was YOUR > economy > > that triggered > > > this whole thing. > > > > Well, what *triggered* it we don't actually know. > > > > We know that it was primed by the collapse of the > subprime > > mortgage lending > > market in the US, which did owe its very existence > (and > > toxicity) to bad > > government policy ("community reinvestment > act" > > and the related failure to > > regulate GSEs Fannie and Freddie Mac it spawned, whose > > securities were at > > the heart of bizarre international hedge funds that > only > > Tim Geithner, who > > doesn't know how to operate Turbo Tax, can > explain). > > > > But who actually started the run on US money market > > accounts on Sept 18, > > 2008, and extracted $550 billion from those accounts > in a > > span of two hours, > > triggering the panic and subsequent credit crunch, has > not > > been determined, > > for a shocking lack of curiosity. > > > > Who did what to cause oil (which is now under > $35/barrel) > > to skyrocket up to > > $145/barrel at the same time as the banks were failing > and > > right in the > > middle of an election, we also do not know. > > > > Neither anomaly has been investigated, let alone > explained. > > > > In any case, Geoff was lecturing me about how much > smarter > > Australians are > > and how immune they are to our problems because they > have > > such fine > > regulators down under. Apparently he hasn't been > > following the news. > > > > - Bob > > > > [excessive quoting removed by server] _______________________________________________ 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/612447.45894...@web31407.mail.mud.yahoo.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.
