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AirGunEric · Site Admin

Hmm- I've been wondering since Monday where the giant economic collapse that was supposed to occur if the last bailout wasn't approved is hiding?

Oh. maybe it's been delayed by the renewed talk of a "rescue" (not a "bailout" anymore- I guess if the name gets changed it's a totally different animal). But, apparently, if the "rescue" doesn't happen ASAFP the collapse is already knocking in the door.

bullsh!t. I can't stand lying politicians and people running failed companies (the mortgagors in this situation) telling people how to fix problems they created.

billandbeaufort · Senior Member

This economic crisis has very little to do with the stock market AKA Wall Street. It is not stocks having trouble (yet) it is the "bad paper" bought by investment banks. Where did it come from? It came from lending institutions giving mortgages to people that had no down payment and no means of paying them back, why? Because in the late 80s Bill Clinton signed into law a fair housing bill to force Fanny Mae and Freddy Mac to do it. Once they started the other banks had to go along just to stay competitive. The uber liberal head of one of these quasi government organizations took with him at bailout time 90 million dollars for 6 years work and his friends in the house of reps patted him on the back! Thank you Barney Frank. "Oh Barney I think I hear Fred callin' you" Unfortunately the public conception is that the republicans are "deregulaters". Nothing could be further from the truth. The republicans warned of Fanny and Freddy but since it was the democrats that caused the problem, the democrat controlled house said they were doing a great service to the American people by getting poor people in houses. Poor people should not own houses period. Don't agree? How about all those poor folk that owned houses in New Orleans during Katrina. Ever wonder why they had no home owners insurance like responsible people would? Ever wonder why hundreds of thousands had to wait for busses that never came because they couldn't even afford a basic car? I'm sick of paying for thier life style and that is why I'll vote republican always. Obama's recession plan-raise taxes and increase spending. Guess who's taxes he'll raise and guess where the spending will go to. Yup it's change alright!

Rogerflat · Silver Status Member

cw · Banned

The greedy, do anything, say anything for a dollar republicans are
responsible for this whole mess.

Here's something interesting. Check out how much the national
debt was when Clinton left office. Then check out what it is now.
Kind of makes you wonder why they are called conservatives.

AirGunEric · Site Admin

No single part or entity is responsible for the situation- everyone has their fingers dirty- the Republicans, the Democrats, the investment bankers and the people who were too stupid to understand there is no way to afford a million dollar house when they make $30k a year.

Now it seems to be the politicians and said investment-banker types feeding everyone sh!t.

Jaxom · Senior Member

I agree with Eric, it's not JUST a democrat issue or a republican issue. Both have their hands in this mess. Less we forget, there's someone else at fault here too. And you only have to look into a mirror to see that person.

Anyone remember the saying, "you get what you paid for?" or "if it's too good to be true, it usually is."

"You get what you paid for". Or in this case voted into office. Can anyone here ever remember a time when the public opionion of the president and congress has ever been this low? I for one cannot. And we've has some really bad elected officals. Of course I can partially blame our status quo now on how the press has manipulated our preceptions of the various parties.

"if it's too good to be true, it usually is." Look at the promises that Clinton and Bush have spoon fed us. Cliton gives the country the largest tax increase in our country's history, looks good on paper. Brings our debt down to zero, but at what cost? How many 1000's of jobs left the country? Clinton's final budget had a forcasted "surplus" (a fancy way of saying we're over taxed really), but by the end of his term we were in a full blown recession.

Then there's GW. Great, gives us a tax cut, great job George, but it doesn't mean you can go off on a shopping spree that would make any woman with a brand new credit card proud!

Then there's Iraq. I still agree we needed to go in. Brilliant exicution on taking the country. But the day the first IED went off, I'd of fired rumsfield. For all the money rummy wasted in iraq, we could have rebuilt some of the infrastructure in Afganistan and would be having renewd problems there now.

So that leaves us with Oby and McCain. One wants to raise taxes with our economy hovering just above recession levels, and thinks it's a good idea to attack a country 4 times the size of Iraq that has a nuclear arsenal. Then there's mccain, who every time you ask ANY question goes off on another flash back to his time in viet nam, while at the same time he want to give millions of illegals a free ride!

Seriously, even though I concider myself to be conservative and vote republican, I'd love to start a grass roots type movement just like in the movie "brewsters millions" and campaign for everyone to vote for "none of the above".

Ugh...sorry for the rant. I best go now, or I'll really get started!

Juster · New Member

How long will it take the banks to approve the $700-billion loan to the Feds?

thepaladin · Senior Member

We're covered. I'm saving pennies in a jar! Push comes to shove, I can sell them for their metal content, it's worth more than the penny. Rolling Eyes

cw · Banned

Make sure that the pennies are made before 1984. Otherwise
they are just copper clad aluminum or zinc.

cw · Banned

Right on Jaxom. I really don't like either party also. We need to
boot them all out and start over. I don't like how the democrats
want to nancy everything down to where you have to earn and buy a
permit to shoot rubberbands and I hate how the republicans always represent huge industrie's interests and are racially prejudiced
warmongers who discount and/or ignore science and the facts.

Let's start over. I nominate Eric. He has done a great job with this
forum. He is a good mediator. He is good at resolving conflicts without
taking sides. If he does have to chastise someone, he does it
so they at least get to keep their dignity.

All in favor, say I.

AirGunEric · Site Admin

har har. Smarty-pants...

cw · Banned

I was not being facetious, I'ld vote for you.

Jaxom · Senior Member

fyi, pennies went to zinc clad mid 1982, not 1984. Best bet, stash all your 1981 and earlier ones. And if anyone's interested, I have links to where you can make a back yard foundry furnace that can melt even steel. Not that I'm suggestion you should melt pennies...<wink>.