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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (129943)	1/14/2013 12:12:37 PM
From: tejek	Read Replies (1) \| Respond to of 149317

What you don't have a sense of is long term history. What is happening now is an end game from decades of abuse. It wasn't from decades of abuse..........it was less than a decade under Bush. When Bush came into office the US was running a budget surplus. Under Bush, the economy became a capitalistic free for all where he started wars while cutting taxes..........a first in American history; where 1%ers like yourself decided that anything goes and began creating questionable mortgage instruments and financial derivatives that were new to the twin industries of real estate and wall street; where everyone was in on the game from mortgage brokers to appraisers to the banks; where a city like New Orleans was allowed to sit in its own fecal mess. This kind of nonsense had its roots under Reagan but was continued to the extreme under Bush II. Clinton and Bush I were far mores sensible so there was not a continuous history over three decades..........except in your mind.

To: RetiredNow who wrote (129943)	1/15/2013 2:43:59 PM
From: John Vosilla	Read Replies (3) \| Respond to of 149317

What is happening now is an end game from decades of abuse. The end game was the financial crisis in 2008. This is the post crash hangover.. MM if everybody who could borrow today did at these incredible low rates and reinvested the proceeds into productive pursuits with lasting value and a higher multiplier effect the economy would boom. Seems to be happening with distressed RE and with a manufacturing resurgence in the midwest but not filtering much into the real economy other places quite yet.. Middle class gutted, half of college grads the past seven years are underemployed at best, no net job creation for three presidential terms running... I would say we never tackled the problems of globalization, technology and near record wealth disparity that were quite apparent in the early 2000's when it took the MIC expansion and a housing bubble to get a limp economy moving forward by 2004..