Posted on 09/03/2009 8:20:31 PM PDT by sickoflibs
One warns us of the phony debt economy and the coming crash. The other tells us we will be sorry because we didn't appreciate the ‘great’ Bush economy and minority homeownership that Bush accomplished. Notice in this fictional letter Levin reads, Bush is not warning us about Barney Frank or Clinton or CRA (all of which were partially responsible, but only partially, negated politically by Republican political bragging.) But both Levin and Hannity explained to us how these three were ruining the Bush economy, AFTER the crash Oct 2008! What is incredible is these outlooks were both made at the same time May 2007
“ Growth is in the Eye of the Beholder“ May 04, 2007 by Peter Schiff
“Also ignored in the rhapsodizing over U.S. GDP growth is the extent to which consumption has been paid for with borrowed money. Since these debts must be repaid with interest, GDP will likely decline even more significantly in the future. Had we borrowed primarily to finance capital investment this would not be the case, as the loans could have been repaid out of increased income. However, as the vast majority of borrowing is simply used to purchase consumer goods, the income needed to repay the debts will have to come at the expense of reduced future consumption.”
“Compounding the problem is the fact that job growth is stalling. April's 88,000 gain in non-farm payrolls is the most anemic in over two years. As falling real estate prices, rising mortgage payments, and tighter lending standards knock the legs out from under American consumers, look for even worse jobs reports in the months ahead. If Americans are struggling to make ends meet now, imagine how much harder it will be without paychecks!”
"Growth" is in the Eye of the Beholder at Safe haven/Europacific Capital
“The speech George W Bush SHOULD give (by Mark Levin on his Radio Show)“ May 10, 2007. Filed under Mark Levin Audio
“I’m fed up because you have no understanding of what’s really going on in the world. Or of what’s going on in this once-great nation of ours. And the majority of you are too lazy to do your homework and figure it out.
Let’s start local. You’ve been sold a bill of goods by politicians and the news media. Polls show that the majority of you think the economy is in the tank. And that’s despite record numbers of homeowners including record numbers of MINORITY homeowners. And while we’re mentioning minorities, I’ll point out that minority business ownership is at an all-time high. Our unemployment rate is as low as it ever was during the Clinton Administration. I’ve mentioned all those things before, but it doesn’t seem to have sunk in.
Despite the shock to our economy of 9/11, the stock market has rebounded to record levels and more Americans than ever are participating in these markets. Meanwhile, all you can do is whine about gas prices, and most of you do not understand that gas prices are high because there’s increased demand in other parts of the world, and because a small handful of noisy people are more worried about polar bears and beachfront property than your economic security.”
The speech George W Bush SHOULD give at Mark Levin Show.com
Moral: Always be critical of what you are told by anyone, even if your party is in charge and you want it to be true. Everyone has an agenda or a bias.
If you realize both parties in Washington think our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut a few taxes and spend a few trillion and jump start the economy, and get our lost money back, this list is not for you.
You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.
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You’re questioning Mark Levin’s credentials? The Holy Ghost of the Conservative Talk Radio Trinity? What are you, some sort of liberal? /s
I will get much hate mail for this. Levin has a much bigger audience with conservatives than Schiff who is more libertarian. But I couldnt help myself, It's priceless to be even be able to find records of this stuff. And the truth is the truth.
No offense but Levin remains right. The Bush economy was strong for nearly all of his presidency. Schiff is very much correct in what he said, so it is not one or the other. There were a number of things Bush could have done better, including keeping the dollar strong, but his policies created a growth and job creating environment throughout his presidency. He does not deserve ‘blame’ for tanking the economy.
LOL. You put it perfectly. See #3
I became a Dittohead in 1992 and by 2008 daily listened to Rush(who I still like and am a 24/7 member) , Levin and Hannity. But after the 2009 crash, only Schiff made sense of it all. He was non-party loyal.
Truth is Truth.
Thank you for your polite viewpoint(I will be called many names for this one.)
I didnt Blame Bush in this post, certainly not for it all, but obviously he would get all the blame so he had a reason to head it off. This is more about who to listen to.
You should see the clips of Hannity I have before and after the crash. Same thing, before crash he told us economy was strong a big success, after crash he told us it was all democrats that killed economy by actions years before , and that republicans WARNED us the crash was coming back years before. But Hannity and Levin cant find one clip of themselves warning us economy would crash when they say BUSH was sounding the alarm bells. Isnt that strange?
You are a brave soul.
Beck and Rush are the only ones I can really take seriously. The others seem to be just GOP jock sniffers. Just my take.
Schiff isn't perfect and he has his own biases. But he explained the crash to me, my past mentors could not.
Even Thomas Sowell talked about all the causes, except the worst one, the federal reserve. This time I didn't buy Levin's book , I didnt buy Sowell’s,(a big break for me) I bought Tom Woods Meltdown.
Meltdown by Thomas Woods, with a foreword by Rep. Ron Paul., link to Wikipedia )
I will view them all but I came across some interesting articles I thought you might like.
http://www.economicpolicyjournal.com/2009/09/treasury-secretary-in-london.html
http://www.economicpolicyjournal.com/2009/09/is-oil-derivatives-default-crisis-just.html
RE :”Beck and Rush are the only ones I can really take seriously. The others seem to be just GOP jock sniffers. Just my take”
My favorite on FNC are : 1) Neil Cavuto, 2) Megn Kelly, 3) Glenn Beck. No Hannity or O Reilly.
Beck uses humor very nicely.
Neil and Megn are nice because they will not hesitate to bring republicans on the show and grill them, like McCain on TARP1 vote 2 days before the election. So when they grill democrats , and they do, they look honest.
Rush made a funny comment about Republicans the other day, he learned his lesson a few years ago on them.
If that happens this year, more bad news for Obama,
Meltdown is excellent. Let's hope his star continues to rise and his message gets further exposure.
No, Bush papered over the structural deficiencies in our economy by flooding the world with liquidity. That is the problem. It was a false prosperity, like building a straw mansion on sand. It is fake, false, temporary and soon collapses.
Bush didn’t cause this depression but did nothing to protect us from it and his policies hastened the decline. Inadvertently he helped us by pushing us into a depression so we can start deleveraging all of the crushing debt we need to destroy. But it was accidental on his part. All he wanted was to be re-elected.
No, the Bush economy was not “strong”. It was false.
Just as Obama did not cause the contraction. The economy was in trouble before Obama declared his candidacy. Yes, he is making things FAR worse, but no Obama did not cause this depression. He is only going to lengthen and deepen it.
Although I love listening to Rush, he was never so honest as when he admitted to “carrying the water” for the GOP. So take Rush off your list, because he is every bit the GOP jock sniffer that Hannity is.
Frankly, the absolute least partisan of all is Michael Savage. He trashes the GOP regularly, and when they deserve it.
Well said.
If you would like to listen to a very informative and entertaining talk by Mr. Schiff, go here:
Hear hear.
BUMP!!
I like Savage and admire his Independence.
To be fair, Rush did warn about the dangers that a McCain presidency with a dem congress would have for conservatism.
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