Posted on 01/23/2009 11:18:14 PM PST by lainie
The only downside is there’s a select few that are making billions off this downturn while the rest of us get to pay for it, but I am happy knowing that a great many greedy bastards learned karma. I think it’s hilarious.
China already pumped in about 600 billion into its economy to stimulate consumer spending, and already it’s not working?
The whole BO mentality is astounding.
Madness, madness, madness....
Hey lainie,
I thought this was a Bush made problem just in the U.S. /s
In The Daily Telegraph UK
Britain on the brink of an economic depression, say experts Britain is heading for economic depression for the first time since the 1930s, economists have warned...
Have been explaining Fanny - Freddy housing fall with the Democrat cast of characters to several Libs I know.
A few are getting it.
I think we are in for some fearsome times. I see some libs waking up, too.
The promised strategy of buying up bad debt and burning it seems not to have happened. Somehow the rotten morttgages have turned into financial worms.
heh. yeah. It’s a Bush problem.
Glad to see you’re still fighting the fight, ma’am.
You’d think someone might want to ask the financial institutions to fess up to their bad debt, write it off, and move on, already.
Of course, you told them GW tried to fix it several times only to be shut down by Democratics? Are they getting that part of it?
yitbos
I’m wondering what the average Jo with Credit Card problems is thinking he ought to do in light of all this. Since the bail outs are going through, how much have people’s attitudes changed?
*Of course, you told them GW tried to fix it several times only to be shut down by Democratics? Are they getting that part of it?*
I let them know that along with others who tried to give a clue.
Also that UTube have video of Barney Frank with the F & F is in great shape, yada yada.
Some are hearing this and have no answer back because they don’t have one.
Obozo thinks he has the answers.
When Blago finally falls, I hope he takes the rest down
with him.
The extent to which the world economy is dependent upon the American consumer, borrowed up to the hilt, is truly frightening.
I hope I’m wrong, but my sense is that a recovery is going to be a long time coming. The problems are too enormous.
These stimulus packages have to be paid for, and the enormity of the necessary borrowing is going to give pause to the lenders. Interest rates are going to have to rise to attract lenders, which is going to raise the cost of borrowing for businesses too and further slow any recovery.
If they turn to monetization rather than raising rates, that brings it’s own set of problems, chief among them rising prices, or at minimum a slowing of the falling of prices necessary for capital saving and recovery.
I think even the bozos in the O administration know that raising taxes won’t work, and the only other solution is the last resort - debt default.
Thank you for your realistic post. There are too many people in denial right now but I think reality is about to hit.
The scenario has probably already been agreed upon.
Blago already tried the extortion trick, "I know where the skeletons are. I'll take you with me."
"You are the one who was arrested. If you put on a defense you will have to admit guilt to the feds. We are not under indictment." His lawyers probably put as much to him. When Blago agreed, the lawyers resigned. Their job was done.
yitbos
One wonders how people to the conclusion that the failure of spending huge amounts of taxpayer money to revive economies means that even more taxpayer money should be spent - rather than, say, to the conclusion that a good first-grade teacher might be able to get out of her students, that spending huge amounts of taxpayer money isn't where the solution lies.
These were the same Euros who were laughing at America when we got hit by the sub-prime crisis more than a year ago.
Looks like karma’s a bitch.
[The depth of the troubles, analysts say, indicates that nations may need to spend more than the billions of dollars already planned on stimulus packages to jump-start their economies]
Yup, that oughta work. The way to solve an economic collapse caused by spendthrift government policies is to throw a thousand times more money at the problem.
We are so screwed.
I’m no longer in the business of defending or propping up Bush. He’s gone. The Democrats through the levers of government are attempting to supplant much liberty with the faceless tyranny of a bureaucrat regulating my life. Government acts and the destruction of opportunity, wealth, and liberty happen quickly. That is where the fight is. Bush is gone.
Hey lainie,
I thought this was a Bush made problem just in the U.S. /s
All he government ponzi schemes are coming home to roost.
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