I happen to agree with you but when I said the same thing a couple of emails
ago, Old Fart Ricardo called me out, said I need to understand what is
happening in the world. LOL. He is so pathetic.
Nick Geti
----- Original Message -----
From: "lelandj" <[email protected]>
To: "ProFox Email List" <[email protected]>
Sent: Friday, October 12, 2012 12:34 PM
Subject: Re: [OT] Triumph of the Wrong?
Whoops, let me try that again. LOL :
Yes, the Bush Administration, which was full of neoconservatives, needed a
booming economy to keep the wars in the middle east going, and to insure
President Bush was elected for a second term. Allen Greenspan, Chairman
of the Federal Reserve, accommodated him with testimony before congress to
the effect that the housing situation was contained. LOL
The Bush Administration never included in a budget the billions of dollars
being spent each month for the wars in the middle east, which over time
added up to trillions of dollars, When funding for the war wore thin,
President Bush would simply request funding from congress on an emergency
basis. Congressmen had no choice but to vote yes to authorize the
additional funding; because, it would have been political suicide, and
unconscionable to abandoned the troops. LOL
In the mean time the private sector continued it greedy ways by playing
the anything goes, political climate for all it was worth. LOL When
people started defaulting of sub-prime real estate loans, housing prices
fell like a stone, exotic investments wrapped around real estate became
worthless tanking the stock market, financial systems froze up, and the
country found itself on the edge of the financial abyss. Thus was born
the Great Recession of 2007.
The great recession destroyed trillions of dollars of wealth. Similarly,
keeping the country from falling into a depression, like the one of the
1930s, and putting the economy back on a path to recovery has been costly.
Regards,
LelandJ
On 10/12/2012 10:44 AM, lelandj wrote:
Yes, the Bush Administration, which was full of neoconservatives, needed
a booming economy to keep the wars in the middle east going, and to
insure President Bush was elected for a second term. Allen Greenspan,
Chairman of the Federal Reserve, accommodated him with testimony before
congress to the effect that the housing situation was contained. LOL
The Bush Administration never included the billions of dollars being
spent each month for the wars in the middle east, which over time added
up to trillions of dollars. When funding for the war wore thin,
President Bush would simpler request funding from congress on an
emergency basis. Congress had no choice but to authorize additional
funds; because, it would have been political suicide to simple abandoned
the troop. LOL
In the mean time the private sector continued it greedy ways, playing the
political situation for all it was worth. When people started defaulting
of sub-prime real estate loans, housing prices fell like a stone, exotic
investments wrapped around real estate became worthless and the stock
market tanked, the financial system froze, and the country found itself
on the edge of a financial abyss. Thus was born the Great Recession of
2007.
The great recession destroyed trillions of dollar of wealth. Similarly
keeping the country from falling into a depression, like the one of the
1930s, and putting the economy back on a path to recovery has been
costly.
[excessive quoting removed by server]
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