Posted on 08/05/2011 7:38:21 PM PDT by fight_truth_decay
A site that is excellent and concise in reporting economic news as it breaks:
http://www.calculatedriskblog.com/
Hmmm... Bush did sign off on TARP, the Bank Bailouts etc did he not?
I personally believe gas hitting $140 per barrel in 2008, caused by Goldman Sachs BTW, was the spark that lit the casino on fire. Who appointed the Goldman Sachs stooge Bernacke to the Treasury? Who signed off of Paulson heading the Fed? Yep, Pres Bush did. He abandoned his beliefs & the American people during a time of crisis & uncertainty, his final years in office were a failure.
In the comment area, there are libs arguing that we the Republicans had just allowed a tax increase, the budget would have been fine.
Of course, these simpletons don’t realize that no amount of income confiscation will ever satiate Washington - there’s always another special interest to buy off with the dollars - and the debt would still never be addressed.
Here in Illinois they increased our income tax by 2% to 5% this year. At the same time, they increased our spending 1.7%, leaving us in an even bigger hole than we were already.
Liberals think you can just spend yourself into a recovery, while a-holes like 0bama use these idiots to achieve purposeful ruination of America for Cloward-Piven gain.
I ALWAYS thought the expert timing was contrived on the Left to win the election with the Help of Barney Frank..but I do not think they ever realized when playing this dangerous game the disasterous consequences it would have to the whole economy, even to their own net worth. They needed a good diaster and they got one; but the pebble skipped across the water too many times before it finally sank. The ripple effect was to be eventually felt world wide.
Have lived in Illinois and have many friends there.
but I do not think they ever realized when playing this dangerous game the disasterous consequences it would have to the whole economy, even to their own net worth.
I agree, but I’m afraid billions of TARP money and other funds went into off-shore accounts for these wicked people. Frank, Dodd, et al probably have huge accounts all over the world.
I believe they still think themselves immune to this disaster which they have brought upon us.
I can hear Bill Clinton’s voice in my head:
“Ha ha ha...”[e-mails pouring in] “Hillary...our country needs us I, mean you—oh boy, new interns to interview...they will be too young to remember, oh boy..!”
You’re exactly right. You’re wording is perfect and I can hear that voice.-— Ohhh babbyy, you’re right. I kan feeel youur pain.
True, they bludgeon their opponents and don't seem to go out of their way much to conceal those actions from the public.
And their audience seems unconcerned.
Why? Because the media is giving them what they want: simple word-constellations that create a comfortable moral formula they can apply to anyone or anything they dislike or envy.
Liberals are wordy-- glib, pretentious, better at talking than doing or thinking. They are perfect for the media, and they now control it.
The problem is, no one on Capitol Hill has the cojones to actually uphold their oaths to the Constitution and the American people. The guy is quite literally destroying this nation before our very eyes, but NO ONE will do a damn thing about it.
The biggest problem is 53 dems in the senate. Need 67 to convict. With the media on his side, no way he is convicted.
You must kill the king. Impeachment by the House will only make him stronger for 2012.
Hmm ~ the Democrat spenders seem to have the nation by the C.O.Jones’ though. How about getting rid of them first.
This is, at heart, a political statement. It cannot be based on NUMBERS since we still have our ICBMs (land based and sea based), and our vast fleet of CARRIER GROUPS.
Our economy is still operating at a 2004 base ~ which leaves it as the world's largest single economy ~
Besides, within minutes of the authorization of additional debt our paper was purchased on world markets at the lowest interest rate in history! The world wants our paper.
So, who are these "rating agencies" and why would they be telling us "You're no good, you're no good, you're no good" while simultaneously the world market says "Gimme' that thing"?
This is what the economists and market prognosticators call "the flight to safety", which at this time is far more important than the usually equally powerful "move to quality". The fact that there are some "rating agencies" who want you to believe otherwise highly suggests they have an interest in a different outcome ~ to wit, they do not want the US to be paying .25% when we could be paying 5.25% to their clients.
Berlusconi has the Italian Finanze Polizi on the case and he may well be absolutely correct about what is going on. He is an experienced money manager ~ and employer ~ and entrepreneur. No doubt he has some sense of when someone is cheating.
Are you factoring in Lindsey and Juan? I don't think all of the Republicans would stick together on a vote to convict.
-——but the downgrade is most of all because the of the size of the debt and it’s growth rate.-——
While that is true, there is also the fact there is neither the means or the will to pay the principal
LOLOLOL
Who fought to borrow more and spend more?
Hint: it wasn't the Tea Party or Republicans.
Who fought to borrow less and spend less?
Hint it wasn't Obama or the dying old media.
If Obama got his way we wouldn't be Double AA but junk-bond status.
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