Greg,there is not a money manager worth his salt that disagrees with the premiss that the current world econmic failure is directly tied to the US real estate meltdown. Those bonds circled the world and everybody jumped on. To the point, in my previous post about the Chinese smelling a Kung Fu rat,they as much as advertised that very notion yesterday. Perhaps the Chairman was reading the Sorp Box and freaked after reading my comments.Whatever,they are feeling a little uneasy about things and their 1 trillion dollar investment in US treasury notes. I'm feeling a little queazy about them myself.
Hope everyone can get used to fish and rice, as I mentioned before.
Tallcal,
I agree with you on the part that the problems is tied to the US real state problems but lets be realistic here.
There is no meltdown.
The world is not in economic failure
The premise that these bonds are circling the world is wrong.
You and I know that if we were in a real meltdown, things would stop. It the world had an economic failure, then world governments would collapse. Bonds? What bonds? The investors, like German government bought securities in different forms that were solely based on the fanny and Freddie mortgage holdings and they lost value but didn’t become totally bad debts.
One issue has been how our government has force banks to make loans but also how the SEC and the FDIC and other organizations failed the tax payers under Clinton’s and Bush’s administration. They failed to enforce one law, that we can not get loans on property that exceeds the true value of the home – the 125% rule that was used to give a home owner 125% of the value of their home. This is called speculation and was made illegal simply because of the idea that it could be very easily abused.
If you are all so willing to brush off Bush and Co's gift of the Clinton surplus, dismiss w's wasteful war and free ride for the rich, add up the record setting deficit spending at the mercy of the Chinese,then let me be the first to teach you how to properly use chop sticks.If they shut down the credit card we have been misusing for w's little folly in Iraq and his enricment program for FOC (freinds of Chaney) then you really can't be surprised that our country sits on the edge of a very deep cravass.
Hate to break it to you but Clinton never gave us a surplus, it was a project pre-2000 that indicated that we could expect a surplus if the economy kept growing.
The rich actually benefited under Clinton more than Bush, it is obvious that even with the tech bubble popping, they made a lot more money.
The real important point that has to be made is that Iraq hasn’t been as costly as the bailouts. But again you are still on the Iraq war kick.
We may be able to be saved with some very radical thinking and a individual who "gets it". Thank your stars that we have such a man at the helm. As bright as he is,and as hard as the system is to break,and the ear marks by both Republicans and Democrats in the stimulas,I would rather have a clear thinking individual who can turn on a computer as opposed to the tired,beaten down dogma and brain dead thought patterns of one GOP nitwit.
No we won’t be saved by immature people who think FDR had it right, there is nothing radical he has proposed, it all has been proposed somewhere in the last 70 years. Obama isn’t as bright as you may think, he is controlling and will lead us down the same path as Carter both domestically and internationally.
The one thing that would be radical would be to listen to the economist who say lower taxes, simplify things and allow people to keep more of their money at all levels. The stock market goes down because people don’t want to pay more taxes but again don’t worry, Clinton’s idea of imputed taxes will hit all of us soon enough.
Greg,we can always go back to 1990.or 1890 or 1790. But we don't need to go beyond 2000 to digest the hog wash we have been fed that has so sickened our beloved nation. We will find our way out,but not without enduring pain and suffering so a few could walk away with bulging bank accounts.What could have possibly driven any thinking person to put that baffoon in office for a second term? I know, 911 baby,it's all about 911.WHY IS BINLADEN STILL FREE after spending 1 trillion Chinese dollars to find him if it was all about security?
Well Bill Ayres is still free, what’s the difference – a terrorist is still a terrorist, right?
Really that buffoon is about the same as ALGORE, he wasn’t the best but I didn’t see you running – maybe I would have voted for you.
The other thing that I find interesting is that a lot of people are upset with him but when we are presented with a John Kerry type and a Bush type, it is far better to vote for what you know you have than to take a chance on what you don’t know what you may have.
That's a question for the ages. Maybe Condi can figure it as a new visiting braintrust at the Hoover War Institude at Stanford.
If you want me to quit beating up the gang that could not do anything straight,sorry,I watched and spoke up while it was going down.I will not let any of you forget that. Ever.
I don’t know about that, Condi came with credentials, she wasn’t some lawyer who was someone’s wife who acted like she was elected to being elected by a group who thinks Martha Stewart and the Hampton crowd are America and then to become Secretary of State to hand out DVDs and red emergency buttons.
I got to tell you something Tallcal, finally someone saw it my way and said this on the radio. The republicans had control of the house and senate and they could have prevented a lot of things from happening. They were not concern with trashing the opposition like the dems do now, they didn’t shut out the dems by changing all the house and senate rules but they worked with the dems a lot. A lot of bi-partisan bills got to be laws under the republican congress but what didn’t happen was a permanent tax bracket changes or getting government out of the housing business. If they acted like the dems act now and did those two things, then we would not be spending our way into this mess.
