Mmmm...I love Bush's Socialist Kool-Aid. /sarc
Posted on 10/10/2008 10:30:56 AM PDT by epow
WASHINGTON — President Bush said Friday that "anxiety can feed anxiety," causing a market panic, but his administration is working aggressively to provide the tools to restore liquidity and sanity to capital markets.
In remarks from the White House Rose Garden, the president also warned anyone against trying to make a fast buck on the financial crisis and reassured Americans that their money is safe.
"We are concerned that some investors could take advantage of the crisis to illegally manipulate the stock market," Bush said. "Anyone caught engaging in illegal financial activities will be prosecuted."
(Excerpt) Read more at foxnews.com ...
Mmmm...I love Bush's Socialist Kool-Aid. /sarc
The man is either a socialist or an idiot.
If the economy is resilient,Jorge, then why did you incite global panic with the “we gotta do it, and we gotta do it now” 700B taxpayer funded bailout plan? How’s that workin’ out for ya, BTW? (not too good).
or? He can be both.
Not much. He has no credibility in economics, inspires very few, and has some of the worst skills of persuasion of any president.
Quick...stop!...your ignorance of the world is showing.
STFU troll.
wait!...MORE of your intellegence is showing....clever come-back...if you’re 8
Me too, make mine grape if you don't mind.
Actually I think Bush is a likable man when he's not trying to speak publicly and is relaxed on his own turf. But like him or hate him, he's the worst communicator that has ever occupied the White House since the electronic age began. I don't remember who the runner up was in the 2000 primary, but whoever it was may have been a better choice if he had been electable in the general election. One thing I am sure of, his Democrat opponents AlGore and ScKerry would have put us in as bad or even worse shape in most areas of governance that the president controls,
The economy has no issues and there is nothing Bush did to cause all this.
This is simply the results of Democrats who created this financial crisis.
I’m not a fiscal-minded kind of guy and I don’t understand a lot about international finance issues at that high level. But it seems to me that a lot of the sub-prime lending nonsense was encouraged and enabled by Democrats in Congress, primarily Barney Frank and others. But now I’m finding articles on usually respectable sites that say the crisis was caused by a $700 billion tab for Arab oil that the Saudis and other Arabs won’t accept anything but hard cash for. Correct me if what I have been given to understand is wrong.
Well surprise, if they have no money to pay for the loan, it's going to go down.
The ultra low interest rates also made home prices unrealistically surge.
The bubble in real estate was world wide, and as a correction hits, there are banks folding everywhere world wide.
I began hearing about the sub-prime lending practice by large banks and financial institutions many months or maybe a year or more ago, but my adviser at Fidelity where our IRAs are invested has never mentioned investing in anything like that, so at the time I didn't think it would ever involve me. But now it appears that it will negatively affect practically everyone in the US and around the developed world whether they have money invested or not.
It only makes sense that if fiscal irresponsibility is involved in anything to do with government and money the Congressional Democrats would be squarely in the middle of it, all the while blaming the evil Repubs (many of whom are probably more dumb than evil) for their own mistakes and subsequent failures to do the right things to correct them.
Joe Shmo wants to buy a $100K Mercedes that he can't afford, but a local banker finances the full price and the Merc seller pads the invoice price a few thousand bucks so Joe will have some spending money to go along with his snazzy new Merc. Joe would then be in somewhat the same situation as a typical sub-prime mortgagee.
Then 6 months later when Joe is flat broke and 3 months in arrears the banker calls the town's half wit mayor and asks him to take money out of the town's pothole repair fund and pay off the auto loan that he, the banker, gave Joe and now Joe can't pay back. So the half wit mayor does as he is asked, the town's tax paying citizens end up paying the bank for Joe's Merc and pocket money, and the half wit mayor borrows money from an out of town bank to fill potholes.
In the end, every one in town loses but the car dealer, the banker, and Joe, who has a snazzy Merc cost free except for the first 3 payments.
Does that illustration of the bailout sound reasonable to you? If not don't spend any time or effort trying to explain where the difference is. If I can't understand the relatively simple bailout and illustrate it for my BIL, I doubt that I will ever understand the even bigger problems in the world economy any better than I do now.
I intended #15 for you, but somehow I posted it to myself instead. If you care to read it feel free to let me know if it makes sense to you, or do I still not properly understand the bailout.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.