Obama '08?

The collapse started in the private sector, okie, which was where the main disaster happened. That's what you guys keep trying to ignore. The financial industry capitalized on the Republican mantra of deregulation and the Bush policy of gutting regulatory agencies and looking the other way and going out to play golf and acceding to the industry pleas for ridiculously low capital requirements, to create high risk mortgages, far beyond any governmental targets for affordable mortgages, which they sliced and diced into derivatives and sold as no-risk investments to private buyers. They damned near destroyed Iceland, amongst others, which bought into their sales pitches. Fannie and Freddie saw their market shares dropping steeply, since the private market for these dangerous-as-it-turned-out financial instruments was getting huge, and petitioned the government to loosen the guidelines for sound lending they had to follow in purchasing mortgages. The Bush government loosened their rules for Fannie and Freddie too, no credit to them. But it was the private market that fueled the bubble. That's the truth that you guys try to spin away.

Ah, I actually like when the righties go through and vote down the centrist and leftie comments.

What amazes me is who the other person is who would vote up okie's OCD remarks. Does okie have a sock puppet? Having one suits his huff and puff personality and his will to world dominance!!

I know that okie will kneejerkedly reject this because the person 'speaking' here is a Harvard professor holding an endowed chair. okie will tell us how he knows more than Professor Frankel, but, that is the nature of okie's ego.

Professor Frankel would, largely, disagree with okie:

Jeffrey A. Frankel, Harpel professor of capital formation and growth, the Kennedy School, does put some blame for the national debt on the Obama stimulus package. That is the point at which okie and ican will stop reading and start screaming.

However, Professor Frankel stresses that the stimulus is "a relatively small part of the total picture."

In other words, Professor Frankel, unlike ican and okie, puts the economy is context. He has a perspective that rises above simply saying no and spewing irrational hatred.

The US was already a debtor nation when the economy began to slide and much of that debt was international. Frankel puts the stimulus in fifth place in terms of extending America's debt.

Leading the way are the increased cost of Medicare and Medicaid. This is followed by Social Security, which Frankel says can be fixed with some minor but "politically difficult" steps. (As these steps are not the focus of this article, they are not mentioned.)

The third contributor to the increase of debt is"the fiscal path that President George W. Bush put the country on in 2001. " That path included both tax cuts and increased military and domestic spending. In MArch 2007, Frankel elaborated upon the nation's rising debt noting that although the president ought to have cut taxes to relieve the 2001 recession, his failure not to eliminate those cuts and not to decrease spending after that recovery will make the next recession more severe. That next recession is here now.

In other words, Bush deprived future policy makers of the solution he used.

The fourth element is the recession itself which decreases tax revenues and increases spending on benefits for the unemployed.

According to Frankel, the stimulus package, in fifth place, "pales in comparison with the other factors."

Some parts of Monterey's post that bear repeating:


The collapse started in the private sector, okie, which was where the main disaster happened. That's what you guys keep trying to ignore.

The Bush government loosened their rules for Fannie and Freddie too, no credit to them. But it was the private market that fueled the bubble. That's the truth that you guys try to spin away.

After rereading these sections from MJ's post, read my post quoting Jeffrey Frankel.

Yes, my kneejerk reaction is that it has been Harvard type economics that has gotten us into this mess. What we need is some old fashioned common sense , which simply follows a few simple rules, such as do not spend more than you make, and if you don't need it don't buy it, and don't steal from the producers and give it to the non-producers. By the way, I could not care less if his "chair" is "endowed" or whatever it is, it doesn't impress me. Any country bumpkin can see that Obamanomics is a total disaster, and if the endowed chair guy can't see that, it is his problem.

Here are some interesting stats.

According to a new WSJ poll, "Just 24% express positive feelings about the Republican Party." That number is the lowest on record in the 21-year history of the survey. "Democrats are only slightly more popular, but also near an all-time low."

According to a new Pew Research poll, only one-third of Americans know that the Troubled Asset Relief Program was passed under President George W. Bush. Almost half (47 percent) responded that TARP was passed under President Obama, and 19 percent admitted they did not know who was president when it passed.

--americanprogressaction.org

The BDD (i.e., Bush Democrat Disassemblers) not the BRD (i.e., Bush Republican Disassemblers) stsrted the recession. The BDD took over from the BRD when the Democrats won their majorities in the Congress in 2006 and ran Congress in 2007 and 2008.

The ODD (i.e., Obama Democrat Disassemblers) expanded the recession. The ODD have been running the Congress, the Presidency, and the federal government since 2009.

NOW, LOOK AGAIN AT THE USA EMPLOYMENT RESULTS AS OF JUNE 2010!

If one thing remains constant, it's that the conservative fools will always blame everyone else for anything bad that happens.

It was mom's fault that the cookie jar broke because she put it up on a shelf so ican had to claim up there to try to get a cookie even though she told him he couldn't have one.

Common sense is a phrase you heard somewhere but you have no idea what it means or how to apply it. You are one of the least sensible people on the planet.

okie, how many one night A's did you get when you allegedly were in college?

What did I tell you?

He is like clockwork! What a maroon, as Bugs Bunny would say.

I do not believe that okie graduated from college. He has exhibits extreme jealousy toward people like Frankel in posts like the above.

I think that even in okie's dimly lit world, he is aware that an endowed chair is the pinnacle of academia. This little pug dog is so jealous that his only way out is to insult everyone else then to retreat into his calls for common sense.

Seriously, I bet mrs. okie is a master at applying make up because I will bet he has blackened her eye more than once.

If I was a lawyer, I could sue you for slander. Your accusations and insinuations are frankly bordering on insanity, and so far from reality as to make me wonder if you are sane. Your insults are growing very tiresome to say the least. Not that I need to even say it because your post is frankly ridiculous, but it is not in my culture or my family's culture to touch a woman in any violent manner whatsoever. We treat our women with the utmost respect, and that is why we've been married for almost 40 years, and that is one marriage for each of us in our entire lives, and we will continue until death do us part, as our vows stated, thank you.

Will I read an apology from you, probably not, because I doubt you have the decency or the courage to do so, at least that is your track record so far.

Slander must defame your character; that would be impossible with all the evidence you have posted on a2k.

More baseless insults without one iota of evidence. Because there is no evidence, because I did of course graduate. I am beginning to wonder if you judge others by yourself, maybe you are a blowhard claiming to be somebody you aren't?

I am beginning to understand why you are so gullible and naive, pom. You believe cheap politicians that lie, but do not believe decent citizens that do not.

No, asshole, you could not because lawyers are people who have strong linguistic skills, which you lack.

The sentence should read, "If I were a lawyer . . ."

And, go ahead, hire an attorney. That is, try to. You might learn something from the matter.

Now, either you can try to learn something and conduct yourself with some maturity and that common sense that you give lip service to ad nauseam or you can just pull your membership and leave.

I strongly suggest you do the latter.

But, first, I will remind you what the latter is: the later or second comment. In this case, it is the suggestion you delete your account here.

You contribute nothing of value. You learn nothing. You strut and fret your miserable hour on this limited stage, most likely because you are some body in a backroom, next the photocopying machine that people avoid.

LAck of evidence? Well, give some evidence that you can think well enough to tie your shoes every morning.

The classic signs of intelligence are memory (which is the least important as there are idiot savants with remarkable memories), adaptability, humor and logic.

Your story of your trip to Denmark shows how unable to adapt you are. You have always been told here that you are not funny. You have never used logic in any post.

Now, I rented a movie that I wish to see, so I will say goodnight.

Absolutely not, not for a cheap participant on a two bit political forum. I was simply pointing out that in everyday life, some of the things you have said are grounds for accusing you accurately for slander. However, the best thing I can do here is to consider the source, and when I consider you as a source, you have no credibility as far as I am concerned. I should apologize to all the other participants here for helping you clutter up some of these threads by replying to your stupid and insulting posts. Consider this an apology, folks. And I am calling it a day, I've had enough of pom for now.

Gee, okie, you should see a lawyer, and tell him exactly what you said here. Please?

The great English and writing expert, pom, that likes to correct my writing and tells me how inept I am in that regard, she says "He has exhibits extreme...."
You are hilarious, pom. Hilariously sad example of a writing expert. By the way folks, I did not have to look at more than a post or two to find that error, so it would not be difficult to find a ton of them I think, if I cared to waste time doing it.

Cry baby. It is nearly midnight. I started writing one thing and changed my mind. It is a typo. Your basic syntax is terrible. If it didn't bother, why are you so fifth grade? Is it because you flunked out your freshman year?