How Do you Feel About This Huge Economic Mess ???

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Good point Ken but all I think they care about at this point is that McCain and Madam Alaska get voted in so the party (The PARTY, not the Republican Party) can continue for another 4 years while the country totally falls apart as they get richer and richer..... sick and sad but true........


There are many sides to this mess politically. It should put the focus on the economy which should help the Democrats greatly. If the Dems cann't win with the worse economy in 70 years and an unpopular war maybe they should disband. I am assuming the elections will be a big win for Obama and the Dems.
The other side of this is that this is a huge, very huge, amount of money being proposed for the bailout. This is going to severely limit what the next President and Congress can do if you are expecting big changes that will cost money.
The bad news for the Dems is that they will likely be in charge during a very difficult economic period with few financial resources to address the problems.
The economic problems facing the U.S. today have been building for many years during both Republican and Democratic governments.
I've been listening to news reports in the U.S. that consumers feel the current tightening of lending requirements to buy a house are very tough. What we are talking about is people having 10% to put down (and they actually have to have a job that pays them an income to make the payments). So called economic pundits are talking about how a bailout may avert a recession in the U.S.
It looks to me like the U.S. and other western economies are going into the worst economic period since the 30's. If we somehow avoid this I will have to give the current people in charge (Paulson and Bernake) Nobel prizes for economic management.
Time will tell.


Quoting "kenmtraveller": ". . . . The proposed bailout penalizes people like me for making good choices, while enabling continued bad choices on the part of others"
My impression, too.
Quoting "kenmtraveller": "and protecting the wealth and status of the rich elites who run the country."
Easy for us to say, but I think not -- time will tell. My impression is that the matter's engineered to encourage continued consumption (that, of course, could benefit the producers, but the point is to placate the masses, I think).


Naw boys, this is why a brilliant man like Obama is not going to win (let's face the ugly facts about America's secret fatal disease - RACISM)-



PLAIN OFFENSIVE (but shows the ignorance of the morons that make this crap);=1

See, when you're dumb as a rock and you come from almost anywhere in the South. You would rather put the black man down then get your self above a 3rd grade education - that parts just too much trouble when you're busy doing your sister or aunt all the time - Like Tommy here - (or your brother or uncle, whatever). At other times you're adjusting the TV antenna on the mobile home during a thunder/lightening storm in the trailer park, God forgive a smart black man does better than you (plus Obama has all his front teeth which also gets these black hatin' hillbillies all pissed off.) I've been all over the south (take out MEMPHIS, NEW ORLEANS, MIAMI, and AUSTIN since they are cosmopolitan sophisticated cities) and it's one spooky place. Ate at a steakhouse in Jackson, Mississippi one njght that was so backwards I started freaking out, I'm not used to this super low I.Q. red neck stuff - maybe if a bowling ball hit me in the head super hard.......


"Dudester" said:

Let's remember how all this happened. The Republican mantra that Government should stay away from all/any business over site and let them control themselves - an idiotic idea and now we see it being played out. Yet the majority of the American public are so uneducated and brain dead about political party policies that they don't understand this is the outcome of Republican party policies...
Perhaps a review of recent economic history without the histrioncis is in order:How the Democrats Created the Financial Crisis: Commentary by Kevin Hassett


Steve, just like the Republican party, your link doesn't work so I can't click on anything. BTW, Bloomberg is owned by a Republican Billionaire so it's most likely just full of tons of Bullsh*t as ALL Republicans scramble to wash their hands of this Mess of all Messes. The Republicans have been in charge for almost 8 years, Government has grown 40% since GWB took over. (contrary to typical yapping the Democrats DO NOT now RUN the Congress. They have a VERY slim majority but not enough to pass any bills on their own (that takse 60 - 66 to over ride a Bush Veto, they don't have those numbers so they basically can't get anything passed). Yep, 8 years of REPUBLICANS and this is what we get. I knew GWB had a third act in him - Impotent on 9/11 - Hurricane in NEW ORLEANS - Financial Melt Down. W NEVER lets us down THE KING OF CAOS and BLUNDER lives up to his name !!!!


Steve, also take a look at the Community Reinvestment Act of 1977 legislation forced lenders to make loans to risky buyers in the interests of a kind of redistribution of wealth. Reforms to the system were consistently resisted by Democrat legislators. Barney Frank (D-Mass), for example is head of the House Banking Committee. He argued that Fannie Mae and Freddie Mac were financially solid when warned that reform was needed. Barak Obama, incidentaly, has taken a lot of money in campaign contributions from these now bankrupt lenders. Dude and others...If the links "don't work" just copy and paste. I was able to do this to read Steve's link.


Quoting "Dudester": ". . . . Bloomberg is owned by a Republican Billionaire . . . ."
Dupester, isn't it owned by the mayor of New York city? He briefly became a Republican in name simply in order to gain a nomination, I think; I understand that he's otherwise a life-long Democrat and was, in fact, briefly considered to run with B. Obama. (There are many very rich Democrats, you know.)



WAS a Democrat in his early years

Ran against DEMOCRAT Michael Green as a REPUBLICAN in 2001 - 2 months after 9/11 - won the election and was reelected in 2005

2007 left the Republican Party and registered as an Independent

So what is he? In the sexual world it would be kinda like being a tri-sexual, hmm... only the "Bloomer" knows for sure.......

Believe me, when it comes to money he's a Republican - GIVE ME MORE, AND MORE, AND MORE, AND MORE, AND MORE.... screw the poor, screw EVERYONE else........


If you aren't able to separate the message from the messenger, try today's WSJ: Blame Fannie Mae and Congress For the Credit MessBy CHARLES W. CALOMIRIS and PETER J. WALLISON consider this:"Now the Democrats are blaming the financial crisis on
"deregulation." This is a canard. There has indeed been deregulation in
our economy -- in long-distance telephone rates, airline fares,
securities brokerage and trucking, to name just a few -- and this has
produced much innovation and lower consumer prices. But the primary
"deregulation" in the financial world in the last 30 years permitted
banks to diversify their risks geographically and across different
products, which is one of the things that has kept banks relatively
stable in this storm.
As a result, U.S. commercial banks have been able to attract more
than $100 billion of new capital in the past year to replace most of
their subprime-related write-downs. Deregulation of branching
restrictions and limitations on bank product offerings also made
possible bank acquisition of Bear Stearns and Merrill Lynch, saving
billions in likely resolution costs for taxpayers.
If the Democrats had let the 2005 legislation come to a vote, the
huge growth in the subprime and Alt-A loan portfolios of Fannie and
Freddie could not have occurred, and the scale of the financial
meltdown would have been substantially less. The same politicians who
today decry the lack of intervention to stop excess risk taking in
2005-2006 were the ones who blocked the only legislative effort that could have stopped it."
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