Posted on 10/14/2008 8:36:23 PM PDT by lonestar67
Nor does the U.S. seem all that badly off, comparatively speaking, when it comes to its ability to finance a bailout. Last month's $700 billion bailout package seems staggeringly large, but it amounts to a little more than 5% of U.S. gross domestic product. Compare that to Germany's $400 billion to $536 billion rescue package (between 12% and 16% of its GDP), or Britain's $835 billion plan (30%).
(Excerpt) Read more at online.wsj.com ...
The economic viability can only be be harmed by Congress, and the President in a secondary form.
Only a country as rich and resourceful as ours can afford to dig ourselves out of the massive folly of the Lyndon Johnson-created Freddie and Fannnie.
The lesson from this debacle should be that no everyone has either the emotional or financial resources to be a homeowner.
Maybe the total number vs. GDP is smaller, but we have many more jobs at stake than Germany or UK. A whole lot more.
Our unemployment rate is quite low compared to Europe.
“America Will Remain the Superpower”
For another three months.
The question isn’t whether they can finance a bailout or not. That’s easy for them as they just keep the printing presses at the Federal Reserve running 24/7 for infinity. The question is, what is backing this paper and how in the hell will they pay even the interest on all the debt they are incurring?
My “dream” is to see someone at the WSJ harp *endlessly*, until the election, about the fear of a socialist/communist takeover being at the root of the volatile stock market with an Obama presidency and democrat controlled congress.
SEAN HANNITY, RUSH LIMBAUGH, BRIT HUME, CHARLES KRAUTHAMMER, GLENN BECK, ETC. This needs to be repeated EVERY DAY, in every outlet conservatives have access to. IMHO
McCAIN - please address this tonight, in the debate, IN HIS FACE. Even self-employed plumbers are wise enough to see the true 0bama.
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