Joined: 28 Dec 2005
|Posted: Sun Aug 17, 2008 7:46 am Post subject: Debate On Economy
The econmy was heading for a serious recession in '03...
Greenie lowered to 1%, virtually stuffing the housing 'coffers' with free money...and avoided the impending recession...
The EXCESS, the WORLD-wide damage (worthless bonds sold as premium investments), the CONTINUAL lowering of American Wages (adj for the very REAL Inflation our gov DENIES...1.7%...LOL!!!) as the Mexican 'Invasion' goes unchecked, the NEGATIVE wealth effect 'snowball' is rolling downhill...
'They' MILKED housing for ALL IT WAS Worth...
End result: Tightened credit, a Tiny Fraction of homebuyers with the ability to qualify...
...and a DECADE of Decline.
The U.S. result is enormous real assets and goods, a substantially more efficient economy, and tremendous upward mobility. You can thank God (the free market), Bush (e.g. timely tax cuts), and the Fed (maintaining sustainable growth). You can even thank the Democrats in Congress (e.g. forcing Bush to fight cheap wars). Furthermore, you can even thank the media for painting such a negative picture of the U.S. economy that the masses are afraid to ask for raises. Thus keeping inflation contained.