Yah, we should listen to the Germans and the French - they also don’t believe Obama’s plan will work.
what we had was phoney mortgages sold bundled up and sold on the bond markets as A+ investments. What the banks were doing, under FORCE by the DEMOCRAT initiative called "Community reinvestment" and enforced by ACORN, was giving loans out to people who couldn't afford them.
What we had at that point was a broke banking system. All that needed to be done at that point was allow those that took out this excessive debt, default, let those banks claiom bankrupcy, and allow the market to correct itself. Then all would be well.
Instead what we have is government destroying the entire economy, increasing spending and debt in a time where the opposite needed to be done, with stimulus towards private sector business growth to replace the jobs lost in the failed secor of the economy.
As long as those who are actually to blame have the national media working on their behalf...
It’s a recession when your neighbor loses his job
It’s a depression when you lose yours
And a recovery when Obama loses his
It’s buckwheats for the economy folks...it’s buckwheats.
Woman tells husband I got the shoes at 50% off and the dress was 50% off so you see I saved 100% and it didn’t cost me anything I put them on the cred card = obama logic
in the real world, one pays for imports through exports
That part just isn't true. You pay for imports with profits; those profits can just as easily come from the domestic economy as from foreign trade. Now, it's true that, under Obama's plan, we may not be able to afford many imports -- but we won't be able to afford much of anything, period.