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Author: drfclef Posted: 19 months 7 days ago
Author's vote: Rate comment    0   1
Niether the Republicans nor the Democrats have a clue what to do. Only a couple of our Congressmen/women (literally, like 2) are talking about monetary policy (because most don't understand it). Very few are talking about even oversight of the Federal Reserve, which has expanded the money supply by over 70% since October, let alone abolishing it. The only answer coming from both sides basically boils down to more intervention and more inflation.

I believe last week we were just barely hitting 10% unemployment nationwide. During the Great Depression, unemployment rates hit over 25% nationwide and that was during a time when America was still an industrial powerhouse as opposed to the consumer based economy we are today. There were some cities that even went beyond 80% of their populations out of work. During the recession of the late 70's/early 80's, we hit about 14% or so unemployment and that crisis was a drop in the bucket compared to what we have going on right now. This is the final bursting of a bubble that has been building for over 30 years. We've got a long, long way to go before we hit bottom.

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Author: allen9us Posted: 19 months 7 days ago
Author's vote: Rate comment    1   2
Thanks to all the republinut policies of the last eight years. Fact is yesterday (1-22-09) the repubs wanted to block part of the stimulus plan that allowed unemployed workers access to healthcare while they were unemployed. The dems voted that measure down, and increased the benefits $25. Sounds like to me the republinuts are still up to their anti-worker ideologies. Thanks to all the dems in congress that are voting on the peoples side, cause the republinuts surely aren't!!!

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Author: drfclef Posted: 19 months 7 days ago
Author's vote: Rate comment    1   1
To absolutely no defense of Bush or the Republican Neo-Cons, you can't place the blame for the bursting of a bubble that has been building for over 30 years on just Bush and the Republican majority Congress.

Since the breakdown of the Bretton Woods monetary system in 1971, we have been papering over our economic problems with inflation and borrowing while creating a giant federal safety net beneath Wall St and the banking establishment. This was going on throughout both Republican and Democratic administrations and Congresses. There is blame due all around, including both major parties, the fractional reserve practices of our banks and all those voters who re-elected 80% of incumbents, borrowed more than they could afford and kept themselves ignorant to economic realities by relying on their homes' artificial appreciation instead of actually saving.

Not that the Republicans are, but if you think the Democrats are voting "on the peoples side" by lowering our children and grandchildren's standard of living and wages by burdening them with trillions of dollars of debt and punishing the poor and middle classes by redistributing wealth to the wealthy through the hidden tax of inflation.. well, I think you're quite mistaken.

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Author: MslmObama Posted: 19 months 8 days ago
Author's vote: Rate comment    2   8
Not even close. Thanks Nasty Pelosi, Harry Reid, Barney Frank, The black caucus, Chris Dodd and Obama.

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Author: Falcon1 Posted: 19 months 8 days ago
Author's vote: Rate comment    5   5
Thanks Bush.

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