Even Dr. Doom Likes Them

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  • Posted By: Blackcourt79 @ 11/25/2008 10:47:37 AM

    I can't tell you how humorous it is to watch as everyone attempts to Blame the Bush administration for poor corporate decisions and consumers who bit off more than they can chew. This whole country is spending more money than they earn, putting it on credit and hoping that eventually they'll either be able to catch up or unload their investment. Care to explain how any of that is Bush's responsiblity?

    • Posted By: rjkardo @ 11/25/2008 11:19:51 AM

      It isn't exactly Bush's fault, the fault is with the entire mindset that Bush followed to destruction.
      Deregulation is a total failure, and now the Government will have to clean up the mess left behind by these failed policies. It is, however, Bush's fault for continuing these policies long after they lost any creditability.

      • Posted By: palympset @ 11/25/2008 1:40:01 PM

        Anyone who doesn't believe that Republicans are terrible for the economy to the point of creating Great Depressions needs to look at this chart: http://commonmistakes.blogspot.com/2008/11/bushs-legacy-trillion-dollar-deficits.html. The only person who's increased the national debt faster than Reagan has been W. Bush. The deficit will top a trillion dollars this year. A crash like this takes years to create.

        • Posted By: Blackcourt79 @ 11/25/2008 2:54:39 PM

          Years like when Bill Clinton signed dozens of free trade agreements. Sending millions of American jobs and billions of American dollars to other countries. Bravo... corporations are running the show now and doing whatever it takes to continually upsize their profits... now their victims... the consumers... can't pay back all the money they borrowed... so where do these corporations go? Right to the source to take the money before we've even gotten it. So yeah you can keep blaming Bush all you want to... he certainly didn't do anything to help matters... but stop pretending that Obama or any other Democrat is going to save the day... they are just as guilty as the rest of them.

      • Posted By: dor-republican @ 11/25/2008 1:50:09 PM

        thanks well said this posting is not surpising to me. The way of the democrat is to blame everyone else but stand front and center for their handouts. that is why the economy is a mess.

  • Posted By: voicewithin @ 11/25/2008 2:07:14 PM

    Keeping businesses from failing is a good goal. Keeping people working is right. What is the government going to do to help keep gas in my tank and food on my table? So far my share of 1,500,000,000,000.00 is FIVE THOUSAND DOLLARS! So gas prices have come down. Great! Wonderful! So now instead of paying higher gas prices I have assume $5,000.00 in national debt for me and another $5,000.00 for my wife. What sense does this make? http://www.ibelievethis.us

    http://www.ibelievethis.us

    h

  • Posted By: nozo1311 @ 11/25/2008 1:32:31 PM

    How about a Warren Edward Buffet? Bush bashing? We are beyond Bush bashing... haven't you noticed? The US elected to have someone (ANYONE) clean up this past eight years of incompetence. Who better to pick for the Job than a guy who could rally poor folks across the USA to give him 1 Billion for campaigning.

  • Posted By: nozo1311 @ 11/25/2008 1:31:50 PM

    How about a Warren Edward Buffet? Bush bashing? We are beyond Bush bashing... haven't you noticed? The US elected to have someone (ANYONE) clean up this past eight years of incompetence. Who better to pick for the Job than a guy who could rally poor folks across the USA to give him 1 Billion for campaigning.

  • Posted By: Lisach @ 11/25/2008 11:59:10 AM

    Thank God Obama won. I just don't see McCain doing this. Let's all work to keep him safe, healthy, and encouraged. That's what he's trying to do for ALL of US.

    • Posted By: Repubssuck @ 11/25/2008 12:44:44 PM

      McCain wouldn't have been doing this. He was going to let Sarah handle the economy. She obtained all of the needed experience from balancing the budget in wasilla.

  • Posted By: klebrun @ 11/25/2008 11:17:24 AM

    Bush poured gasoline

    The four worst financial disasters of the last 100 years have come at the end of Republican administrations that have aggressively promoted deregulation in the financial markets.

    The Great Depression starting in 1929 came during the third consecutive Republican term, the October 1987 stock market crash and the Savings and Loan disaster which saw 747 S&Ls fail surfaced in the second Reagan term and the current financial market disaster in Bush???s second term.

    The combined Reagan and Bush terms have rolled up in excess of 80% of the total national debt since 1776 resulting in interest payments on our national debt equal to our defense budget which is close to half of the total defense budgets in the world - just for perspective.

    If Nero fiddled while Rome burned, Bush poured gasoline on a financial disaster extolling the virtues of more of the deregulation that has brought this country to its knees. He has left us with a broken country and a broken military, with nothing positive to show for, and the conservatives are wondering what went wrong!!!!

    The answer is simple. You can't just give children gasoline and matches and tell them to go outside and play. They will, and did, burn down the house. You have to find toys to play with other than the national budget.

    If they have to have a discussion about what went wrong, they need psychiatric help - along the lines of Alcoholics Anonymous - starting with denial is not a river in Egypt.

    And if they give serious consideration to Palin as the next presidential candidate they probably need to be institutionalized as certified before they destroy our country.

    • Posted By: sadsituation @ 11/25/2008 11:47:27 AM

      Very well said!

  • Posted By: thoughtfulone @ 11/25/2008 11:20:57 AM

    Blackcourt79 asked, "Care to explain how any of that is Bush's responsibility? Sure will: after 9/11/01 President Bush did NOT ask for sacrifice, did NOT ask for restraint, did NOT ask for patience and a long-term perspective. Rather, he urged everyone to go on with their daily economic activities as if nothing had changed: to continue spending to help the economy, to continue those activities that would bring corporate profits and raise stock prices. So many citizens did as he urged -- in exactly the fashion that Blackcourt79 described in the posted comments. Do not the leader and the Administration bear some responsibility for the consequences arising from the actions of those who followed their advice -- or does the "buck NOT stop here" with President Bush?

  • Posted By: markci @ 11/25/2008 11:04:03 AM

    *** Care to explain how any of that is Bush's responsiblity? ***

    Nope - nothing is ever Bush's responsibility. Even he is unable to think of a single mistake he's ever made.

  • Posted By: Omnius @ 11/25/2008 10:15:08 AM

    Great article Daniel! Geez Nouriel Roubini doesn't sound like Dr.Doom in this interview, bet he would had McCain won and we had that self serving buffoon Phil Gramm running the economy. Not much to do for two months but wait for the clock to run out on the worst president for the economy in history. The clueless fool now wants another $600 billion to buy up toxic mortgages, which was what the $700 billion was for in the last bailout bill. Congress should do nothing on this until the bushwhacker is gone because he'll just bait and switch us again. Obama has shown he is far more intelligent than the current crop of bozos in the White House and he understands what it will take to revive our bushwhacked economy.

  • Posted By: kimme051 @ 11/25/2008 9:59:11 AM

    geez....and we coulda had Phill Gramm. I'm going back to my bible and pout.

  • Posted By: tommyjonq @ 11/25/2008 9:47:34 AM

    bush's "demand side" stimulus didn't work. at all. hello, unemployment. barack "reagan democrat" obama will HAVE to resort to supply-side stimulus to "create or save" 2.5 million jobs. hello, inflation. lieberman uber alles!

    http://politiqs.tommyjonq.com

  • Posted By: Repubssuck @ 11/25/2008 8:30:26 AM

    Can anyone who wasn't alive at the time imagine the gloom and doom attitude of the Great Depression? We came back then and will come back again. If you're contemplating jumping out of a window, relocate to a ground floor.

  • Posted By: trogers @ 11/24/2008 11:57:58 PM

    The new team may know a few clever tricks but the magic is long gone. No matter what they try , the economy will deliver only pain and suffering to the average American. The failure of the past eight years is so complete and the damage so overwhelming that even miracles will not help. Get ready for the worst because it is the best you can hope for. This financial crisis is the beginning of a long slide into unemployment, poverty and unrest. The reality of the third world is coming to your neighborhood and the new team will not stop it.

    • Posted By: Repubssuck @ 11/25/2008 8:18:38 AM

      Chill out, We'll bottom out and everything will be up from there.

  • Posted By: mattwion @ 11/25/2008 1:21:47 AM

    A very qualified and highly intelligent team of advisors. But, Summers in particular has championed deregulation in the past, will he do so again? The deregulated markets have been a huge part of the current problem. Summers, many critics contend, shares much blame in this. But if that is so, do we have reason to believe that Summers is now wiser than before? Does he have the qualifications to lead us into an era of increased regulation. Don't get me wrong, the picks are probably among the best Obama can do. But can they help us? I hope so. I think it is possible. On the other hand, I am also aware that they may fail. I have hope, but it's guarded with a dash of doubt as well. Matt Wion http://mattwion.blogspot.com/

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