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The current state of affairs and the last 8 years of events rest squarely on the backs of the Repubs or the Dems??? Both. In the economic meltdown the Dems want to lay on the shoulders of Bush there is a decidedly important factor quietly swept under the rug by the Dems-that the policy of suing lenders for redlining effective opened the floodgates of subprime mortages. Which causes a problem (created by the Dems) but exacerbated by the Repubs (please spell check that for me) with the Capitalists abuse aka the "adjustable rate mortgage" (aka-your screwed when we're ready, so bend over now). On the war front the lament is ever played out on violin by tghe left that the war in Iraq is a war for oil, and it was an avoidable war. Again, one needs to note a couple of factoids never played out on that violin. Factoid one: the world entire food production and distribution is mechanized-should Hussien have had his way in the middle east, a billion people could have faced starvation as the price of food via the price of oil went through the roof. So there is that. factoid two: the property rights of the british and American oil companies, lawfully contracted for in mineral rights agreements, were demolished by the nationalization of the oil feilds in the 1950's. Had we defended the property rights then (a politically incorrect option, even in the 1950's) we would not be at the mercy worldwide to despots and religious fanatics now. Last edited by Martel; 03-07-2009 at 11:10 AM. |
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Bottom line? Martel put it right... there's enough blame to go around for everyone on capitol hill. Anyone blaming only ONE side is just another con artist. Let's just say, "I ain't pickin' up what you're layin' down!"
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"The heart of the wise inclines to the right, but the heart of the fool to the left." Ecclesiastes 10:2 (NIV) Check out: www.indepolitics.com |
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In a month and a half, you have done, with total class, a remarkable job in tackling the worst scenario ever inherited, and have already addressed and/or reversed dozens of Bush wrongs while proposing many worthwhile and needed solutions beneficial to individuals and our country, all while trying to keep our country respected and economically afloat while being shunned and scorned by a pathetic yet screeching and flailing mini minority of life-long losers that subscribe to Rush-ithink instead of backing the good guy.
Those of any American value and worth, salute and support you! |
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And the people with functioning brains know that demo-republicrap circus is handled by the same people behind the curtains.
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Cheers. Ron Paul sign on my lawn for MONTHS. Music; the voice of reason. |
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The Subprime Mortgage Fiasco Explained In 2001 Alan Greenspan at the Fed (Federal Reserve) lowered the interest rate to try to rejuvenate the economy after the fallout of the .com bubble burst. History will record that Greenspan went from the sublime to the ridiculous when he cut the interest rate to 1%. This set off a spate of irresponsible borrowing and lending the effects of which are still being dealt with today.The banks took advantage of this by starting to offer mortgages to subprime borrowers. Subprime borrowers are borrowers with a poor credit rating (specifically a FICO (credit) score of < 620). Typically these are individuals who habitually are unable to make credit card payments, or those who have suffered a foreclosure or bankruptcy. In the past they wouldn’t be able to get a loan, but thanks to the low interest rate, some could now afford the payments. With great fanfare out went the ads: “Send us your poor, your homeless, your great creditless masses!” Lured by the prospect of home ownership and lulled by the chimera of ‘buy now, pay later’, loans were issued as fast as the printers could print them. What caused the subprime loans to be made was investors looking for higher yeild investments then the 1% treasury notes. No law suit or law forced the bankers to give loans to subprime borrowers. Your attempt to blame the democrats is simply BS... BTW: Greenspan lowered interest rates to prop up bush's failed economic policies.
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I'm Proud I Never Voted For Bush, Can You Say The Same? I got seven days suspension because I said: "Seriously, have you gone off your meds?" |
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