President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (126154)	11/2/2012 9:27:14 AM
From: TheBrit	Read Replies (1) of 149317

That's all well and good but in 2008 consumers were losing their jobs, watching their house price plummet, and their 401k were slammed. They stopped spending money! Business in 2008 watched the economy retract 3.8% the last quarter of 2008. They laid people off at the rate 750k per month. They started rallying around self preservation and stopped spending money. So, banks froze the credit. DO YOU HAVE ANY IDEA WHAT THAT MEANS? We live in a capitalist system which is fed by spending. Do you have any idea what happens to this economy if spending stops. Yes you do, you lived it 2008-2009. Enter the third and only part of our system who has the ability to feed the economy when both consumers and business stopped spending money. The Government. I admire principals but your principals cannot tell me what the alternative to getting out of the financial tsunami we were in. You are busting the Presidents balls for playing the only hand in the deck he had to play and that was to save our system as we know it. Business wasn't spending, consumers weren't spending, banks froze. End of capitalism, period!!!

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