Truer words have never been spoken through falser teeth.

Text version here:

...and it's always reassuring when "Tax and spend" is mentioned (which has *some* hope of balancing the budget) and 8 years of BORROW AND SPEND is ignored.

Tell me again who is responsible for the terabuck deficit *SO FAR* this year?

The US banking system, with its enthusiasm for selling sub-prime mortgages to people wh weren't ever going to be in a postion to repay them - mortages which were then "securitised" and peddled all over the world to create an international banking crisis when the bubble burst last year.

The terabuck deficit is the mechanism which is expected to prevent a re-run of the Great Depression of 1929. So far it seems to be working, which doesn't stop nit-wits like you and John Larkin from deploring the adoption of the FDR approach (which worked) over the Hoover approach (which didn't).

-- Bill Sloman, Nijmegen

You are wrong in where you put the bulk of the blame. The mortgage problem was just the match that lit the huge pool of gasoline that was the credit default swaps and the other bits of paper that had been piled many layers deep on all of the valid investments. The situation was like this:

John loaned $10 to Bill Bill loaned $10 to Jane Jane loaned $10 to John

This then all got valued at $30.

In real life the chains are thousands long. In order to unwind all the loops you can hand $10 from hand to hand. This takes a very long time and the economy will be stuck in a hole until it is done or do the process in parallel. To do it in parallel, you hand John, Bill and Jane each a $10 bill let then pass it to the next person in the chain and then take back the money. This is what was supposed to happen with the money that Hank Paulson was given to work with. Unfortunately, too little of that was done with it.

From 1934 to 1941 things got better each year with the exception of

1937 when FDR tried to stop it too quickly. Unfortunately, it appears that the amount of cash injected my have been less than needed. We can expect to hear a mighty howl when the time comes to suck the money back up. The ones who decry its injection today will likely howl the loudest then.

Well, yeah, Bush left Osama&H&H&H&Hbama a big deficit, so what's the first thing he does? TRIPLES IT!!

Not to mention double-digit unemployment.

Thanks, Rich

So, you think McCain and whats her name would not have double-digit unemployment and would not have added to Bushs un-regulated bail-out of the banks/investment houses ??

So, you think the rest of the world would have bought more US Bonds to help McCain and the republicans to continue to cover their mess ??

Is that what you are saying ??

don

Do I think McCain would steal GM from the *secured* bond holders and give it to the union thugs? No.

So I think McCain would come up with a terabuck "stimulus" packages, complete with real pork? No.

Do I think McCain would socialize the medical industry, at a cost well North of $1.5T? No.

No, I don't think there would have been as many *to* buy.

You aren't very bright, are you?

We agree on something. Otherwise, you still qualify as an idiot.

He was faced with a choice. He could let the economy completely crash and burn or he could act to decrease the problem by injecting cash like all the economists said he should. He took the wiser option. When the economy is going well again, he will have to try to pull the cash back in. I am sure that you will complain when he does that too.

You're still DimBulb.

McCain would have died of a heart attack when he saw how bad the mess was. President Palin would have prayed the debt away.

You're an idiot. "Never let a serious crisis go to waste" says it all.

Obama has only injected cash where it would benefit his buddies, NOT the public :-(

...Jim Thompson

--
| James E.Thompson, P.E.                           |    mens     |
| Analog Innovations, Inc.                         |     et      |
| Analog/Mixed-Signal ASIC\'s and Discrete Systems  |    manus    |
| Phoenix, Arizona  85048    Skype: Contacts Only  |             |
| Voice:(480)460-2350  Fax: Available upon request |  Brass Rat  |
| E-mail Icon at http://www.analog-innovations.com |    1962     |
             
"What would happen to [Obama\'s] vanity if he didn?t have us to 
throw alms to? What would become of his strength if he didn?t have
weaker people to dominate? What would he do with himself if he
didn?t keep us around as dependents? It?s quite alright, really, 
I?m not criticizing him, it?s just a law of human nature."

                       -Ayn Rand, "Atlas Shrugged"

"...the fascists present the national crisis as resolvable only through a radical political transformation..."

Idea of a Nation in Crisis

"The crisis also provides us with an opportunity to engage in anti-capitalist, socialist education. The crisis will help create an audience for what our tradition has called "transitional demands" (public ownership, national health insurance, etc.). It will also create opportunities for socialists to present our critique of capitalism as an unstable social system incapable of meeting human need."

Charlie Post (active in the faculty union at the City University of New York)

--
Joe Chisolm
Marble Falls, Tx.

Fortunately for us all, you don't have the power to put your deluded ideas about economics into practice.

h .

His buddies are the "public that matters". Don't be so sad that none came your way. Your guy was in power for the last 8 years. You should have saved up some of the money he gave to his buddies like you to carry you through these years. :)

It's a little hard to know, isn't it? But one thing's for sure -they couldn't possibly have done any worse than Osama^H^H^H^Hbama.

And they very probably wouldn't be cramming socialist medicine down our throats.

It's pretty obvious that the Bush/Cheney regime wanted to f*ck things up as much as they possibly could, just to dump a bunch of crap into Obama's lap.

BTW, just because I'm not a socialist doesn't mean I'm a neonazi - you extermists seem to be stuck in the all-or-nothing, if you ain't fer us, yer agin' us mentality.

There is another way, that hasn't been tried since Pericles liberated Athens.

It's called Freedom, which seems to terrify politicos of every stripe.

Of course not. See above.

I don't have a crystal ball - I can only report the facts as I see them and the facts are, Obama seems dead-set on bankrupting the country, under the guise of being Big Uncle Supersugardaddy - with money taken out of your paycheck, of course.

Thanks, Rich

The economy would be better off today if they'd let Nature take its course, and let the economy crash and burn, rather than borrowing a trillion dollars for "injecting cash", which seems to have led to a lot more pain and suffering than there would have been if we'd just got it over with.

The people who were betting on the housing bubble SHOULD have gone broke when the bubble popped.

If they'd let the economy "crash and burn", then that would have cleared out the deadwood, the lazy, negligent, and stupid; and the rest of us could have got on with our lives, used a little common sense, and pulled ourselves out of the crisis with a little human ingenuity.

But NOOOOOOOOOOooooooo - the socialists seem to believe that it's right to steal from the productive, to support the nonproductivity of the lazy, negligent, and stupid.

And we can all see the results all around us, right now.

Thanks, Rich

Perhaps for you, but yours and Slowman's (same delusions) will have us all starving.