Lords of Death Forums Lords of Death Forums LoD General Discussion 5 minute memories

I'm reading folks thoughts on the current mess, the concurrent election etc.... and the immediate thought I have is that people don't have long term memories, and tend to defend something to their detriment.
This mess is not entirely G Bushes fault. It is not entirely the Republicans fault. Nor is it entirely the Democrats fault. They all have stink on them.
The #1 problem today is the repeal of the Glass Steagal act (Clinton's job on that one). It caused a lack of oversight.
In 2001/2002 we needed to have a recession (it was needed), we avoided it with the G Bush/Greenspan low int rates. That combined with Clintons actions and caused the real estate bubble.
Prior to 2000, we had a flush time of grand cash....due to the dot com bubble. It exploded under Bush, it was not Bush who is to blame. He was just at the helm inheritting a pending mess. That whole fiasco was not "real economy", it was a bubble.
Prior to these 2, Reagan relaxed key items, Nixon kicked the gold standard. As you all blame each others political parties, and pretend that your chosen party has no complicity in this, please keep in mind that you are all wrong. Both of these political parties are equally to blame. Often, a president pays for the mistakes of their predecessor (it pops up under their watch).
There are good robots without brains who follow their parties right over a cliff, grats and applause for you. Bob for example reminds me of a person missing a few key teeth in the front, wearing a john deer hat with fly fishing hooks in it. He calls me a "liberal" which must make him a KKK member. He does not appear to be a person who benefits from the Repub tax cuts (I do personally, but I suspect his trailer park was glossed over on those benefits). But thats ok. Freedom incudes freedom from intelligence, and he has every right to spew and believe whatever drivel he spews.
Sad part is his rant against taxes. And my question to our resident "8D" economist (Bob) is..... what is the solution when the rest of the world (including "old Europe") stops lending you 2 billion dollars per day? What do you do? What do you stop spending on at a rate of 720 billion dollars per year.... out of a budget of 3 trillion dollars.
What 1/3 of your govt would you cut? Remember, over 60% of your economy is derived from govt spending multipliers (you of course already know that).
Call me a Liberal, but guess what. I pay my bills, have no debts and pay my taxes. You will likely suffer long before I do in this mess. And when you do, and you look for a handout from me, you'll sound like a Liberal (to me at least).
Looking forward to your insightfull way to cut 720 billion from the budget, cut taxes at the same time, not cause a recession, not slaughter the military and keep people happy, employed and in their homes. Remember, if you now take in 60% of the $$$ you did as a government, you cannot raise taxes (you may even drop them further though if you chose). You cannot raise int rates. You can't layoff or fire govt workers. We are all waiting for your solution.
The same holds true for all of those who are emotionally married to a political party.
Time for the "8D" brilliance to shine, we're all waiting for your solution. Have at it, the floor is yours.....

Here's a visual aid for those trying to figure out where they could cut 700 billion from <img src="/~stretch/ubbthreads/images/graemlins/wink.gif" alt="" />

First, I could not begin to understand the complexity of the mortgage mess. Nor muster or pretend to have a solution for it.
What I do know;
At a time of war, politicians make for bad generals.
At a time of economic crisis, politicians make for bad economists.

Right or wrong this is an example of blatant misrepresentation. This is not limited to (D) or (R), the swine of our legislative and executive branch have fed like hogs on the fruit of Americans labor.
If it was a true "rescue" plan, and our economy was in imminent danger they would have gathered every economists wiling from every University in the Union to hash out a reasonable solution.
They could have done this for less than $500 thousand.

that is a start, but still underwater. 1.85 trillion is the 720 billion debt plus the current bailout. The true number is even higher sadly.

Very Agree, where are the economists who do this for a living (and are not on wall street)?
Sadly there is only one answer that everyone is avoiding.....higher int rates + higher taxes. Nobody wants to be the spoil sport and admit the keg is empty (R & D alike).

lol good point. Most on this list probably own some stake wallstreet or are persuaded one way or the other.

I completely agree