If you really believe that a Republican in the White House will NOT get the blame, no matter what reality is, then you’re drinking kool aid. McCain’s numbers already turned down based on last week’s financial unrest.
Actually, from what I hear from what Dems call “low information voters”, both parties are blamed.
But the president gets blamed for what happens on his watch, that’s the way it is.
I point out it was Bush, not the Dems, who tried to push through protective regulations on the Mae-s. Democrats blocked it. He doesn’t advertise that, I don’t know why.
Paulson=Goldman Sachs.
Perhaps the “real story” is buried in that issue about stopping short trades. That was drastic. Perhaps the real story is all the financial houses went deeply “short” and their return is coming soon. This is what the current plan is intended to circumvent.
There are also foreign pressures, all those central banks that have been buying American funny money derivatives. Bush, clearly, is responsible for the deficits that he needs these countries to continue to finance. But the “housing market”, really the derivatives market, is what appears to be in “crisis”.
Panic of 1907 — Republican President Theodore Roosevelt
Crash of 1929 & Great Depression — Republican President Herbert Hoover, who assumed office in 1929 after the Republican Coolidge and Harding administrations.
S&L Crisis 1986-1990 — Republican Presidents Ronald Reagan and George HW Bush.
Banking and Mortgage Crisis of 2008 — Republican President George W Bush. In office for 7 years. Inherited a balanced budget. Seems prepared to leave with the economy in shambles and record deficits.
What credibility does the Republican Party bring to managing the economy. All of these crises were caused by rampant speculation in the financial markets. Could these events be the result of laissez-faire economic policies?
Larry, are you a prayer warrior?
We can solidly beat the adversary through prayer and faith. Rather than being a doom and gloom prophet, we all need to encourage each other to use the tremendous power that we have, and remember to thank the Lord as we petition.