The Carnival Triumph Disaster. A Preview Of Obama's Second Term?

[Truthmatters]

It was a fully planned wealth shift for the gain of the wealthy in this country.


You on the right jsut keep supporting your own slavery

 

[Truthmatters]

Bush and his admin HELD back these rules for 8 years on purpose folks.

They took a law that was passed and signed by a president and then refused to impliment the full law.

They cheated our system and caused us to have a huge wealth transfer to the wealthy.


what do you blind republican do?


you march and scream in favor of your masters

 

[Truthmatters]

Bush caused this on purpose just like he LIED us into war on purpose.


stop supporting the very people who want to keep you down

 

[Truthmatters]

and they will now shun this thread because they cant deal with the truth

 

[tinydancer]

Blaming Bush or any one President for the economic collapse is proof you don't understand the real world. 2008 collapse was going to happen and was predicted for many years before it happened. I am amazed it was held off until 2008. Policies from government for many decades, have caused it.

Then tell me why the Bush team held back the broker rules for 8 years?

It wasn't holding back "the rules" that broke the economy. In 2001, we should have collapsed. We were coming off the dot com bubble, the housing bubble look like it was coming to an end. At that time most government, businesses and individuals were maxed out on credit. Yet, we revived the housing bubble, based on selling derivatives. Have you thought, without the buying of derivatives, the end would have been 2001, giving terrorist a huge ego boost.

Right or wrong, left or right, the economy and the excessive expansion had to stop. Just as this economy gets rolling, it isn't getting done the right way. There has to be a way for government to save, taxes and spending cuts need to be handed out. Businesses and individuals are saving and not spending, why, they learned the lesson. Time for government to also, it will be slow but it will be real. Unlike the last several decades.

You are so bang on the money. Technically it should have shattered in 2001. We can go back and point out the faults of everyone before. It's been a long time in the making.

What's frightening is the complacency to do nothing now. Not to stop the financial train running off the track.

It's crazy and I don't understand it at all.

 

[TheSeventhTiger]

aside from the Lib's giving homes away during the latter years of the Bush Administration, it was also careless Americans who borrowed way too much money, abused their lines of credit, etc. that was another major player in this Obama recession. So it's all "Bush's Fault" that a few million Americans used up their credit lines, way beyond their means, where in the end caused this Obama recession? Didn't Obama buy the US Economy for 800 Billion?

 

[Truthmatters]

the bankss are NOT stupid.

they would NOT have written so many sub prime if they had to keep them in their books to futition.

They rolled them into securities and then LIED to the buyers about the content of the securities.

Dont you people read the news?

 

[tinydancer]

Bush caused this on purpose just like he LIED us into war on purpose.


stop supporting the very people who want to keep you down

Hello?

Afghanistan was a NATO operation sanctioned by the UN.

Iraq. Well I always figured so many countries signed onto that because the last thing on the planet even countries in the ME didn't want was Saddam's sons getting into power.

Sort of Iraqi versions of Adam Lanza with bigger guns.

My PM at the time, Chretien didn't go for it because his son in law was reportedly involved in the oil for food scandal.

Politics and relatives.

 

[Truthmatters]

Subprime Mortgage Bonds Get AAA Rating S&P Denied to U.S. - Bloomberg

 

[Truthmatters]

They gamed the system to screw the American people out of money.


Its was a planned wealth transfer from the middle class to the wealthy.

and here are you clones defending the very people who distroyed so many lives.

WHY????

 

[Sallow]

Worthless to anyone, when there is doubt about whether the bond issuer can pay the interest and principle, then the bonds will not be bought.

Bush was wrong, Obama is wrong. Grow up, its not a partisan discussion, its an economic discussion.

Question for you: Would the coutry be better or worse off if it did not have 16 trillion in debt?

Again.."anyone" isn't an answer.

And most of the US bonds sell at a very brisk pace. That's even with the S&P downgrade. Why? Because the US economy is the largest, most robust, trusted, innovative and valuable economies in the world. Many of the world's currencies peg against the dollar.

Would the country be better off without the 16 trillion dollar debt? Sure..but it's a debt we can still manage..and manage way into the future. And actually having NO DEBT is worse.

As is this headlong blind rush into austerity.

tell me how having no debt is worse than having a large debt. This should be interesting

Because a large part of our economy actually depends on debt. That's how much of the financial sector makes money. Additionally, in our economy, the government is the biggest consumer. No government consumption, it would put a huge burden on the private sector to make up for that short fall. That's it in a nutshell.

One of the worst analogies I've ever heard of the government, is when it's explained as a household. Nothing could be further from the truth.

 

[Truthmatters]

The Bush SEC knew exactly what they were doing.

 

[Truthmatters]

and the rank and file Rs lick the boots of the people stomping them yet again

 

[tinydancer]

the bankss are NOT stupid.

they would NOT have written so many sub prime if they had to keep them in their books to futition.

They rolled them into securities and then LIED to the buyers about the content of the securities.

Dont you people read the news?

Your banking laws still suck. You've not tightened them enough.

I'm trying to be nice to you here.

Look whether you are a bank or a government or a janitor you can't spend more than you bring in.

It's simple.

 

[Sallow]

and in your small mind that action is totally responsible for our current fiscal mess?

How did they get brokers to sell sub prime contaminated securities as triple A?


No broker would have done that for FEAR of losing their liescense and in turn their job and
carreer.


The Bush SEC fixed that little hurdle for the banks

OK OK, Bush screwed up. Obama has screwed up more. Can we move on?

Well no. Because Obama didn't screw up more.

Quite the opposite.

 

[Sallow]

Bush caused this on purpose just like he LIED us into war on purpose.


stop supporting the very people who want to keep you down

Hello?

Afghanistan was a NATO operation sanctioned by the UN.

Iraq. Well I always figured so many countries signed onto that because the last thing on the planet even countries in the ME didn't want was Saddam's sons getting into power.

Sort of Iraqi versions of Adam Lanza with bigger guns.

My PM at the time, Chretien didn't go for it because his son in law was reportedly involved in the oil for food scandal.

Politics and relatives.

Oh please.

 

[TheSeventhTiger]

a lot of us grew up in the 50's/60s/70s where we had to work hard to save up a few thousand to buy a home. look at what happened after Pelosi became speaker. No Money?, No Down Payment? Work part-time or on welfare? NO PROBLEM !!! here, take the 200,000 and buy a brand new home, isn't that wonderful, and you didn't even have to work for it !

 

[NoNukes]

Can you imagine if Mayor Doomberg was the caption of the ship? with his long list of rules? No more than 3 poop/urine bags per passenger and only one onion sandwich, and no more than one 8 0z plastic cup PER DAY !!!

What would Nloomberg's caption be?

 

[Oldguy]

a lot of us grew up in the 50's/60s/70s where we had to work hard to save up a few thousand to buy a home. look at what happened after Pelosi became speaker. No Money?, No Down Payment? Work part-time or on welfare? NO PROBLEM !!! here, take the 200,000 and buy a brand new home, isn't that wonderful, and you didn't even have to work for it !

That's funny. I grew up in the same period and didn't have to come up with several thousand dollars to buy my first house in 1975.

 

[NoNukes]

a lot of us grew up in the 50's/60s/70s where we had to work hard to save up a few thousand to buy a home. look at what happened after Pelosi became speaker. No Money?, No Down Payment? Work part-time or on welfare? NO PROBLEM !!! here, take the 200,000 and buy a brand new home, isn't that wonderful, and you didn't even have to work for it !

And Pelosi is to blame? Lame, lame, lame.