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Monday, September 15, 2008

 
Is The Bush Economy About To Tank? by Steve Soto

Best COMMENT from The Left Coaster...

September 14, 2008 Posted by BDBlue: Can the Democrats save the economy or financial system? I'm not convinced. It seems to me that McCain and the Rs are determined to continue down the same disastrous road. But Obama and the Democrats seem unwilling or unable to fully take on the task either. Obama's answers to most economic questions have too often involved tax cuts, IMO. What's more, the Democratic Congress hasn't exactly been out in front on this issue or proposing solutions that do more than attempt to alleviate the symptoms, instead of fixing the underlying disease. So what I fear is that with McCain we're headed as fast as we can into disaster and with Obama what we'll get is half-assed solutions, which if we're lucky will soften the blow, but if we're unlucky will only delay the day of reckoning and by delaying will make it worse.

I think we're in for very bad times regardless of who is elected. The bill is coming due on Bush's recklessness and on the Democratic Congress' unwillingness to reign it in the last two years. They've punted the problems into next year, but the problems are much bigger than they were 2 years ago.

I'd say we're looking at a spectacular failure of government and while most of the blame belongs on Bush, the Democrats certainly deserve some of it.

I disagree, btw, that it was the home purchaser's greed that was driving it. It was Wall Street's greed. Sure, there were a few greedy home buyers, but I think a lot of people saw the upward climb of the housing market as a chance to buy a home when they couldn't afford one before and use the upward swing to help them pay for it. The mortgage companies wrote loans no one was going to be able to afford if the market went down, but people like Alan Greenspan kept telling buyers it wasn't going down. Sure, some of us knew that was a joke, but I think the people who got taken the worst were some of the less sophisticated and less wealthy folks. They were just trying to make money like everyone else. Of course, what they should know is that poor people and middle class people don't get to make money like rich people do. That's not how it's going to work. Which is why even many of these Wall Street executives get severance bonuses, even as their companies are having to be bailed out.


"We will have a list of foreclosed homes and will make sure people aren’t voting from those addresses," AND "Here's a bunch of question's... "Even 'if' someone is foreclosed upon, don't they still have a..." By awakening from Friday, September 12, 2008

Minnesota's unemployment rate jumps to highest in over two decades by Martin Moylan, Minnesota Public Radio on August 14, 2008 AND "income drop was biggest in Scott, Anoka and Wisconsin's St. Croix counties" from Gas & Bag US - MSP Twin Conventions

How can they not know? The NeoCons are the mess makers, the Democrats are their care takers and I guess we - the people are the day dreamers. By awakening from Marie Dressler Reminded Me Why We Do What We Do... Monday, August 04, 2008

America's Job Bank Ceased Operations July 1, 2007 by awakening from Homeless Saturday, July 26, 2008 "Could that be another reason why the youth in our area are being displaced from their home’s, the mortgage crisis? Remember renters rent from a home owner, so that loss rolls down hill to the renter. A youth being displaced from the life they had had is scary."

The OFCCP regulations require covered Federal contractors and subcontractors to make job postings available to the appropriate local employment service office. Use of America's Job Bank satisfied these requirements, but ceased operations on July 1, 2007.

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