The face of the new DemocRAT Communist Party.
Posted on 11/29/2008 1:32:22 AM PST by JohnHuang2
Barack Obama and George W. Bush seem to have come away from their study of the Great Depression with similar conclusions:
To wit: After the Crash of 1929, the Federal Reserve did not move fast enough to save the banks and inject cash into the economy. Second, the New Deal, far from being wastrel deficit spending, was not bold enough. So it was that America wallowed in depression for a decade until the unbridled spending and mammoth deficits of World War II pulled us out.
Bush and Obama seem determined not to make the same mistake.
We are all Keynesians now.
Thus, we have the $700 billion Bush bank bailout, the $700 billion "stimulus package" Obama wants by inauguration to "jolt this economy back into shape" and the $800 billion fund Hank Paulson created to get consumers borrowing and buying again.
These come on top of Bush $455 billion deficit, the $29 billion bailout of Bear Stearns, the $105 billion in pork to grease the $700 billion bailout, the $100 billion to $200 billion to keep Fannie and Freddie afloat, the $140-billion-and-counting for AIG, the $25 billion for the greening of GM, Ford and Chrysler, the $25 billion more to save the Big Three and the $20 billion for CitiGroup.
(Excerpt) Read more at worldnetdaily.com ...
Jolts can re-start a heart and save a life.
They can also electrocute, or activate a Frankenstein monster.
I say pass out batteries to everyone instead of giving only a dam to the elites.
SPREAD that wealth around. It’s our money, Congress.
ping
We’re so screwed.
There is a special place in hell for some folks who are destroying our country. I am sure.
The War did NOT end the Depression. Eisenhower’s deregulation and steady dollar finally ended the Depression. During the war years there was full employment depression but it was depression all the same. Wages did not rise because of wage controls and goods were scarce and prices were high relative to incomes. People were, on average, no better off economically than in the thirties... but they had jobs. When you can’t get stuff because of rationing it is no different from not being able to get stuff because you don’t have money.Many Russians were wealthy in rubles before 1989 but there was nothing to buy so they did without, a lot like in the US in the forties.
The face of the new DemocRAT Communist Party.
The Elite Political Class can't keep their grimy mitts off a situation caused by them that begs self-resolution.
We are buried in the chaos of evil excessive bureaucracy caused by their socialist meddling.
Government interference in the free interactions of people(the market) is ALWAYS an attempt to cheat reality. Insane and childish. It’s a game of let’s pretend. Let’s pretend that everyone has earned and can afford a house. Let’s pretend that everyone is equally credit worthy. Let’s take money from some people and give it to others so we all can pretend that they are prosperous.
The bailouts are one last desperate attempt to pretend.
You can fool reality only for so long. Then it all comes crashing down. Reality always wins. Game Over.
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