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Date: Tue, 11 Nov 2008 18:15:18 -0800 (PST)
From: Mervyn Lobo <[EMAIL PROTECTED]>
>
Thankfully, the US got the chance at the right time and threw the failed
administration out of office. A new era begins in January. The first order of
business has to be to re-instate the banking and trading rules that served well
for 80 years.
>
Mario corrects the facts again:
>
The financial mess currently underway was started, defended and continued by
the Party of the new American president and their policy desire to "spread the
wealth" by forcing the banking system to lower lending standards for low income
people. When these people were unable to repay their loans the system began
its collapse.
>
What is being described as a failed administration was the one which tried to
control the situation but were thwarted by the current President-elect and his
party, who were paid enormous sums of money in political contributions by the
PACs of Fannie Mae and Freddie Mac to look the other way while the mess was
brewing.
>
Mervyn wrote:
>
The rest of the manufacturing world has to wait for the new administration's
policies to work in the US. Only after that is achieved will things get
economically better in countries that depend on US trade.
>
Mario responds:
>
The new policies threatened, ...er, promised, by the new administration have
been tried by several other countries, have failed abysmally wherever they were
tried, and thrown on the thrash heap of history where they belong.
>
If these policies are, in fact, implemented in the US, a worldwide recession
may turn into a depression.
>
However, the good news is that the new President's long-term pastor and mentor
has informed us that there is no guaranty that he means what he says or says
what he means, because he is a politician who will say anything to get elected.
This opinion is a matter of public record.
>
So, no one really knows what policies will be implemented.
>
Mervyn wrote:
>
It is going to be a long time folks. Obama is on record saying that he may not
be able to achieve an economic turn around in one term.
>
Mario observes:
>
Thank you for confirming just what I have been saying, he has no idea what to
do, and so, we have no idea what policies will be implemented.
>
