El 12/10/12 14:12, Nicholas Geti escribió:
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
So you agree with Leland? All right, then pathetic ord fart Ricardo will
comment between the lines. (see below)
----- 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
Therefore if you have to "contain" the "housing situation" this implies
there is a previously existing crisis, namely the "housing situation",
provoked by savage unregulated capitalism. Just my point, capitalist
systems must be regulated, controlled, and directed towards the benefit
of society as a whole.
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
So, again you are saying that a democratic system in the style used in
US is unable to resist pressures from the weapon selling companies. That
liberalism, in this case, does not work for the benefit of the country.
In the mean time the private sector continued it greedy ways by
playing the anything goes, political climate for all it was worth. LOL
Again saying that if the private sector is not contained by the govt it
will act against the best interests of the country. Ergo, the solution
is for the govt to regulate private sector so that it acts in the
benefit of everyone. This is socialism, the rest is a matter of how much
to control the private sector and how to make it contribute to the
country's success as a society.
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.
Produced, once more, by unregulated markets.
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.
Here I disagree with Leland, the fall is not over yet. Neither for the
US, nor for the rest of the world. This irresponsible behaviour will
still cost us all dearly.
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