so the news out of eastern europe--and the central and western european banks that lent them money--is Obama's doing. And the deceleration of growth in China, India, Taiwan, Malaysia,, Singapore, the mideastern countries, and the third world generally is due to Obama. The near bankruptcy of GM and the domino effect to its suppliers, not to mention F and Chrysler--that is all due to Obama's bailout plan. The credit crunch isn't due to banks not being adequately reserved, consumers in debt to their eyeballs, and businesses not having any visibility for the next year about a rebound in demand--no, it is due to Obama's economic policies, just announced and not even implemented yet.
Doesn't have anything to do with the Bush policies and lack of regulation of the past 8 years. Or with banks and insurance companies going for the "easy" money made possible by the magic of always increasing real estate. Or the destruction of this country's balance sheet since 2002, which before then had been recovering.
No, it's all on Obama. You are like a genius, Michael. I do think you ought to submit your thesis to the NYT and the WSJ, not to mention academic journals and even the administration itself. They will be delighted to finally know the truth about why Wall Street is crumbling and Main Street frozen. |
