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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (2875)	10/25/2008 7:24:26 PM
From: Bearcatbob	2 Recommendations Read Replies (1) \| Respond to of 86355

"Herbert Hoover failed to recognize the depth of the problems that lead to the Great Depression. He clung to the idea that the free markets would correct themselves " Tax increases and protectionism? Which candidate is clinging to old ideas?

To: RetiredNow who wrote (2875)	10/25/2008 9:58:37 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 86355

In this post you go too far in blaming the Democrats and saying the Republicans are not to blame Actually, I did blame Republicans for not being aggressive enough (playing it politically safe) by not being willing to risk alienating the latin (citizen) voters. Even McCain has had to walk the political fence and not risk creating opposition from his Latin voters in Arizona. Hmm.. so maybe you can show us where Republican Leadership was ever in favor of amnesty for illegal aliens, let alone in favor of advocating that banks lend to non-credit worthy individuals? And yes, the ultra-Republican platform has often been in favor of deregulation, which I oppose. But both the Clinton administration and the Republican congress passed the Gramm-Leach-Bliley act. And much of this was because US banks were at a global disadvantage to European and Asian banks which didn't have such separation between commercial and investment banks. As for who has a better shot at fixing it, I think McCain has drawn the proper stance. He wants relief for mortgage holders, which I believe is critical in order to put a backstop behind the demand curve and I don't perceive him as any friend of Wall Street fatcats. McCain knows nothing about the economy and can't be trusted to deal with it correctly. I certainly don't believe that Obama has any idea about the economy either. All he possesses is "book knowledge" and he'll be just as influenced by those who hope to look to the government to use taxpayer money to perpetuate many of the policies that got into this mess in the first place (specifically creating government incentives that put illegals and other non-credit worthy people into homes they couldn't afford). I'm not claiming McCain is perfect, but I think we'll have a more reasonable chance of having someone who's not particularly a favorite of the far left, OR the far right. I don't perceive Obama as having established his credentials as someone who can oppose folks like Barney Frank or other democratic political heavyweights. As for antagonizing Russia, something tells me that the recent financial turmoil, and the disappearance of billions of dollars in Russian wealth has created a epiphany within the halls of the Kremlin with regard to alienating the West. Given their dependence upon Western economic growth to buy their commodities, I don't think they'll be as willing to stir up trouble. Hawk

To: RetiredNow who wrote (2875)	10/31/2008 6:41:53 PM
From: TimF	Read Replies (1) \| Respond to of 86355

Herbert Hoover failed to recognize the depth of the problems that lead to the Great Depression. Probably. He clung to the idea that the free markets would correct themselves. That's a widely held myth. Probably at least partially because earlier in his life he was a strong supporter of laissez-faire, but he dropped that before he became president. Hoover signed Smoot-Hawley, greatly increased spending, taxes, and government intervention as president. All in all more so than any other president except FDR, who interesting attacked Hoover for such actions before going further in the same direction (with the important exception of trade restrictions) after the election. --- Did Hoover really subscribe to a "hands-off-the-economy," free-market philosophy? His opponent in the 1932 election, Franklin Roosevelt, didn’t think so. During the campaign, Roosevelt blasted Hoover for spending and taxing too much, boosting the national debt, choking off trade, and putting millions on the dole. He accused the president of "reckless and extravagant" spending, of thinking "that we ought to center control of everything in Washington as rapidly as possible," and of presiding over "the greatest spending administration in peacetime in all of history." Roosevelt’s running mate, John Nance Garner, charged that Hoover was "leading the country down the path of socialism."[8] mackinac.org