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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ldo79 who wrote (85816)	9/2/2007 3:05:00 AM
From: Haim R. Branisteanu	Read Replies (2) of 110194

The "decider" in action... Credit card defaults soar... U.S. defense spending sets new record... Buffett still buying rails... Ted Bywater on the risks in commercial real estate... Our fearless "decider" addressed the subprime lending crisis today, saying: "The government's got a role to play. But it is limited. A federal bailout of lenders would only encourage a recurrence of the problem." What does Bush propose instead? A bailout of the borrowers! See... the borrowers are blameless. Why? Because they vote. Guess which state has the highest percentage of problematic subprime loans? Florida. And guess which state's presidential ballots tend to be the linchpin of the election? Credit card watch: Moody's reports credit card companies wrote off 4.58% of payments between January and May, up nearly 30% from the same period in 2006. According to the administrative office of the U.S. courts, the nation's bankruptcy filings jumped 66% in the first quarter. Who do I call to have President Bush cover my credit card debt? After all, it's the lender's fault, isn't it? One more tidbit about deadbeat Americans. According to BusinessWeak, "Saturn buyers are 22 times more likely to default than Toyota buyers. In fact, owners of American cars are generally more likely to default than owners of European or Japanese cars." (General Motors owns the Saturn brand.) Maybe George Bush will bail out car buyers too... I finally understand what compassionate conservative means. You will recall that's how the Bush administration originally sold itself to get elected... before the Republican party turned into the corrupted, preemptive-war launching, torturing, subprime-bailout party of unlimited appropriations bills for all of its members. Compassionate conservative means "We'll spend even more of your tax dollars than the Democrats

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