[kenberg]

A rough ride is certainly likely. However understandable anger might be, it doesn't much help.

The morning paper brings the latest news in the foreclosure mess. Earlier reports about shortcuts in the process were explained away, unconvincingly, as merely technical issues. Now it appears that the banks doing the foreclosing may very well not have clear title to the mortgaged property, due to all of the inventive securitization tricks. This will be good for no one.

I don't know what to do about this, and I am suspicious of anyone who says that the answer is obvious. I am more than suspicious of anyone who thinks the answer can be found in the Constitution, the Bible, or the writings of Ayn Rand.

[P_Marlowe]

Rodney26, on Oct 6 2010, 11:41 PM, said:

<nsip>
Clinton was helped by the dot.com bubble, Bush had a nice stock market run during his second term before the financial meltdown, <snip>

Just a comment

The one president got help from the "dot.com" bubble, the other was unfortunate,
he only got help by a nice "stock market run", you nicely left out the words "help
from a bubble in the housing market", which it basically was, the bubble in the
housing market started under Clinton, but really took during the beginning years
of the Bush administration.

Sry: This is just demagogic.

Regarding the current financial mess of the US

The Bush administration did cut taxes, since there was a forecast, that in a given
time window all debts would have been repaid, and due to this forecast, it was
decided, that the money generated was enough to justify the tax cuts, since the
rest would still be enough to pay of the debt.
You may or may not have accepted the forecast, forecast are ok, and as long
as you truly believe, the guys did a reasonable job, ok.

As the federal income went down, the tax cuts did not get reveresed, because
they were necessary to boost the economy.

So in effect, to summarize

If the economy runs well, and the goverment gets more money => lower taxes
If the economy runs bad, and the goverment gets less money => lower taxes

This was the financial policy of the Bush administration.

You need not to be a genius to see, that this is complete ...

The Bush taxes are a bigger amount of money than the money, that got paid to
help fighting the decline, and those tax cuts still cost money, the stimulus package
is terminated and basically the money is already spend.

With kind regards
Marlowe

[luke warm]

P_Marlowe, on Oct 7 2010, 07:05 AM, said:

You need not to be a genius to see, that this is complete .

obviously... otherwise the administration would just recruit from BBF - there is no shortage of geniuses here

[Winstonm]

Quote

I am more than suspicious of anyone who thinks the answer can be found in the Constitution, the Bible, or the writings of Ayn Rand.

As well you should be, because it is a combination of all three (the key that leads to the riddle is in the Bible - then you find the multi-cololored spectacles made by Ben Franklin...which are wrapped in the Dead Sea Scrolls...)