It Could Have Been Worse?

Discussion in 'Economy' started by Annie, Jul 8, 2009.

  1. Annie
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    Annie Diamond Member

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  2. Modbert
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    Modbert Daydream Believer Supporting Member

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    But never fear everybody! Remember, it's all Obama's fault! The wars, the economy, everything is all Obama's fault! That guy before him? Not his fault at all, he didn't even start the wars. :rolleyes:

    Tell me Annie, what's the Republican solution to all of this country's problems? More tax breaks for the rich? More deregulations?

    Cause you know, that worked so well under Reagan and Dubya. :rolleyes:

    Go and read The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash by Charles R. Morris.
     
    Last edited: Jul 8, 2009
  3. xsited1
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    xsited1 Agent P

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    That's what the Obama Administration would like for us to believe. Both parties have been a major disappointment, of course, but the Democrats have had Congressional power since January 2007 and look at what's happened. It's not so much what they did, but what they didn't do to prevent this. Since then, they've used failed Keynesian economic theory to try to fix the problems they let happen which only make them worse. God help us all.
     
  4. Annie
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    Annie Diamond Member

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    Who is President, today? Who controls both houses of the legislature, today? Who said one word about tax breaks? You should try reading "The Wealth of Nations".
     
  5. Care4all
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    Care4all Warrior Princess Supporting Member

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    good morning robert,
    After reading such, a question for you:

    DO YOU still support our government bailing these CROOKS, (Mortgage companies, banks, financial institutions, insurance conglomerates ), out?

    IF SO, why?
     
  6. Modbert
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    Modbert Daydream Believer Supporting Member

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    I'm merely telling you what the Republican solution has been to everything since Obama has taken office, other then just saying he's wrong obviously.

    Obama's President and Democrats control both houses but don't be ignorant in believing that the recession if not well into a depression that Obama came into office with is going to just go away.

    Within a year or two, much of the market will be back to making their massive profits.

    I hold Obama responsible for any and all decisions that I feel he is wrong on but don't sit there and tell me that Republicans are offering anything better or these genius ideas. Because guess what? They aren't. They're too busy trying to put Creationism in schools, trying to get Gay Marriage and Abortion banned, etc.

    By the way: Go back and reread The Wealth of Nations, go to Book I and see what Adam Smith said about money when it was first invented.
     
    Last edited: Jul 8, 2009
  7. Annie
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    Annie Diamond Member

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    No one said it's 'going to go away', the problem comes from actions making a really bad situation worse, indications being, much worse.

    One of the things about being President and majority party, these are THEIR problems, however they began. BTW, the problems did not begin with the last administration or the one before that. Not the economic bubbles, not terrorism, not government spending...
     
  8. Modbert
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    Modbert Daydream Believer Supporting Member

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    Who says I ever supported giving any of these companies money in the first place?

    The problem first off lies in deregulation, the reason why these CROOKS were able to do any of this in the first place. As I mentioned in my previous post to Annie, when money was first invented there were many problems because it was not well regulated.

    All of this money we gave to all these companies was like throwing into a pit if you have no idea where it's going.

    Sadly, we got to a point where certain businesses could not go under without severely damaging the economy then at the point it currently has. So any bailouts (which are loans by the way) were out of necessity more then anything.

    There is precedent for bailouts working, Chrysler borrowed back in the late 70's in a deal that eventually got the U.S treasury about $350 million in profit.

    Obama needs to put the regulations back into place all over the financial industry to prevent such gross mismanagement and corruption from happening again. We also need to prevent companies from being "too big to fall" as at that point it becomes a danger to Capitalism.

    Trust me, I think most of these people are crooks. Which is why I also believe that any company that takes bailout money needs to replace their entire upper management.

    I recommend reading the book I suggested Annie to read, it is a well detailed, truthful story of how we got to this current point in our history.
     
  9. Modbert
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    Well despite how much REPUBLICANS love to repeat it, Obama is not the messiah. One can not yet judge whether Obama is making this situation worse or not because one can not fully judge the stimulus package yet.

    They are NOW their problems, but don't act like they were the ones who caused them. From 1980 to 2008 we had a Republican President for 20 out of 28 of those years. 8 years of Democratic Leadership under President Clinton for whichever reasons you want to call it was one of the biggest financial growths in this nation history.

    You are right in saying that none of these problems started with the prior Administration. However, there was certainly no reason to go into Iraq, so that one can be pinned on the prior Administration. Though Iraq would of probably never had hated us ever if Reagan hadn't gone and back stabbed Saddam in the 80's.

    My point being, whether people like to admit it or not, the current path we've been going on for the last 28 years if not longer has brought us to where we are now. Even Clinton continued deregulation during his Administration which was a huge error upon his part.
     
  10. xsited1
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    You just did:

     

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