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Democrats are all bad examples of how to run an economy. |
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It's the most basic of today's political principles. How much can you provide to the needy in
relationship to the money you have. How much can you take from those who are not deemed needy to pay
for helping the needy.
Because of political narrow mindedness and the tools used to encourage it while manipulating it in
order to gain office, these questions are rarely discussed outside of the political arena. The
political arena never subsides. Whatever the chamber or house, the politics of reelection and party
never ceases. The most important goal is to raise money for the party to safeguard it's ability to
play the game.
The US government, lead by the Clinton's and Democrats, along with many Republicans chose to
encourage (and passed legislation which insured the encouragement) people getting into homes they
could not pay for. The housing market boomed.
Then when the nonpayment began, there were people who thought they could make money on the bad
mortgages. Financial institutions can usually make money on bad loans by reselling the loans. When
was the last time a home owner or car owner had the holder of the note want to help them keep the
note? Yeah right! Mortgage companies wanted the defaults.
Then investment firms thought they could make money on the defaults. They cooked up schemes (swaps)
to sell to large investors (including Russia and China). They miscalculated the massive amounts of
bad home loans that were made when their (swaps) were called by the large investors, they had no
capital to back there swaps.
In 2004, the gig was called. The future was foreseen and regulation of these loans were called for.
The same people who (I am not a Republican or a Democrat but the Democrats are getting away with a
very bad thing here) pushed for these loans fought tooth and nail against regulation and shot it
down.
So for me, it is worrisome that the lesson of the past is being ignored by those who encouraged the
social engineering, while they will even gain more power to do more of it.
But Republicans deserve it for many reasons. I don't think the American people do. But maybe the
Democrats can pull it off this time. If they don't, there will be a change in 4 years. It's a pretty
good system. |
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Better than owing china 500 trillion dollars., and being in a deficit! |
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02 Nov 2008 19:49
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