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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (261965)	7/18/2010 10:53:23 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

That's where W was so flagrantly offensive in his desire to continually perpetuate the belief that the economy was never weak under his watch, and a major part of why we are where we are. There is NO way he would ever concede to failure of anything. That would threaten his machismo, and that defeated his whole reason for asking Daddy to make him president. "Gonna make you proud, Pappa. I'm tellin' ya, NOBODY will ever call the Bush's wimps again." ------ Of course "W" wasn't encouraging such a course of action, I am sure

To: ChanceIs who wrote (261965)	7/19/2010 3:11:18 AM
From: tejek	Respond to of 306849

>>And you're blaming Bernanke? You're confused.<<< Correct me if I am wrong, but Bernanke did coin the phrase: 'extremely accommodating for an extended period.' Might have been Greenspin, but I don;t think so. Greenspan: wsws.org If you want to blame Clinton, Rubin, Summers, Phil Grahm, Greenspan (ARMs are a great idea), Sandy Weil, Franklin Raines, Geithner (as NY FED president), "W," Greenspan (again but under "W" - I do remember "W" slapping him on the back and pronouncing him "a good man"), Bernanke (appointed by "W"), Chris Dodd, and Barney Frank, you will get nothing but agreement from me. Just lay off my gal Brooksley Born. Bernanke has had choices. He could have stiffed the foreign holders of US bonds. He could have made rates extremely unaccomodative for an extended period back in '04-'05 until the Mortgage Bankers Association started burning crosses on his lawn. Of course "W" wasn't encouraging such a course of action, I am sure. He could have and can stop bailing Geithner out through broker's brokers at Treasury auctions. Bernanke didn't become head of the Fed until 2006. Yes Bernanke is in a pickle, which he inherited in part because of such "W" machinations as the war spending. Today's remedial actions are a conscious choice. Screw the seniors or screw the foreigners. Somebody undeserving will get screwed for this mess you can be sure. Most people will suffer for this mess........and frankly, I don't have a lot of sympathy. No one forced people to vote for Bush......twice. By 2004, it was clear Bush was an idiot but they laughed at Kerry and voted for Bush a second time. In the meantime, Americans were living high on the hog......refinancing their homes over and over and over again as their value went up. It was a ponzi scheme. In another post, I said it was like some old time religious movie where people are enamored with affluence and are dancing crazily around a golden idol. Americans want immediate gratification. Apparently, they are not too happy with their lives so they want 'things' to make them feel better. It doesn't seem to be ending. It looks like we may be in decline.