How Obama Saved Capitalism And Lost The Midterms

[Michael Komorn]

How Obama Saved Capitalism and Lost the Midterms

 

 

November 2, 2010, 11:59 PM

How Obama Saved Capitalism and Lost the Midterms

By TIMOTHY EGAN

 

 

Timothy Egan on American politics and life, as seen from the West.

TAGS:

CAPITALISM, MIDTERM ELECTIONS, PRESIDENT OBAMA, THE ECONOMY

 

 

If I were one of the big corporate donors who bankrolled the Republican tide that carried into office more than 50 new Republicans in the House, I would be wary of what you just bought.

For no matter your view of President Obama, he effectively saved capitalism. And for that, he paid a terrible political price.

Suppose you had $100,000 to invest on the day Barack Obama was inaugurated. Why bet on a liberal Democrat? Here’s why: the presidency of George W. Bush produced the worst stock market decline of any president in history. The net worth of American households collapsed as Bush slipped away. And if you needed a loan to buy a house or stay in business, private sector borrowing was dead when he handed over power.

As of election day, Nov. 2, 2010, your $100,000 was worth about $177,000 if invested strictly in the NASDAQ average for the entirety of the Obama administration, and $148,000 if bet on the Standard & Poors 500 major companies. This works out to returns of 77 percent and 48 percent.

But markets, though forward-looking, are not considered accurate measurements of the economy, and the Great Recession skewed the Bush numbers. O.K. How about looking at the big financial institutions that keep the motors of capitalism running — banks and auto companies?

The banking system was resuscitated by $700 billion in bailouts started by Bush (a fact unknown by a majority of Americans), and finished by Obama, with help from the Federal Reserve. It worked. The government is expected to break even on a risky bet to stabilize the global free market system. Had Obama followed the populist instincts of many in his party, the underpinnings of big capitalism could have collapsed. He did this without nationalizing banks, as other Democrats had urged.

Saving the American auto industry, which has been a huge drag on Obama’s political capital, is a monumental achievement that few appreciate, unless you live in Michigan. After getting their taxpayer lifeline from Obama, both General Motors and Chrysler are now making money by making cars. New plants are even scheduled to open. More than 1 million jobs would have disappeared had the domestic auto sector been liquidated.

“An apology is due Barack Obama,” wrote The Economist, which had opposed the $86 billion auto bailout. As for Government Motors: after emerging from bankruptcy, it will go public with a new stock offering in just a few weeks, and the United States government, with its 60 percent share of common stock, stands to make a profit. Yes, an industry was saved, and the government will probably make money on the deal — one of Obama’s signature economic successes.

Interest rates are at record lows. Corporate profits are lighting up boardrooms; it is one of the best years for earnings in a decade.

All of the above is good for capitalism, and should end any serious-minded discussion about Obama the socialist. But more than anything, the fact that the president took on the structural flaws of a broken free enterprise system instead of focusing on things that the average voter could understand explains why his party was routed on Tuesday. Obama got on the wrong side of voter anxiety in a decade of diminished fortunes.

“We have done things that people don’t even know about,” Obama told Jon Stewart. Certainly. The three signature accomplishments of his first two years — a health care law that will make life easier for millions of people, financial reform that attempts to level the playing field with Wall Street, and the $814 billion stimulus package — have all been recast as big government blunders, rejected by the emerging majority.

But each of them, in its way, should strengthen the system. The health law will hold costs down, while giving millions the chance at getting care, according to the nonpartisan Congressional Budget Office. Financial reform seeks to prevent the kind of meltdown that caused the global economic collapse. And the stimulus, though it drastically raised the deficit, saved about 3 million jobs, again according to the CBO. It also gave a majority of taxpayers a one-time cut — even if 90 percent of Americans don’t know that, either.

Of course, nobody gets credit for preventing a plane crash. “It could have been much worse!” is not a rallying cry. And, more telling, despite a meager uptick in job growth this year, the unemployment rate rose from 7.6 percent in the month Obama took office to 9.6 today.

Billions of profits, windfalls in the stock market, a stable banking system — but no jobs.

Of course, the big money interests who benefited from Obama’s initiatives have shown no appreciation. Obama, as a senator, voted against the initial bailout of AIG, the reckless insurance giant. As president, he extended them treasury loans at a time when economists said he must — or risk further meltdown. Their response was to give themselves $165 million in executive bonuses, and funnel money to Republicans this year.

Money flows one way, to power, now held by the party that promises tax cuts and deregulation — which should please big business even more.

President Franklin Roosevelt also saved capitalism, in part by a bank “holiday” in 1933, at a time when the free enterprise system had failed. Unlike Obama, he was rewarded with midterm gains for his own party because a majority liked where he was taking the country. The bank holiday was incidental to a larger public works campaign.

Obama can recast himself as the consumer’s best friend, and welcome the animus of Wall Street. He should hector the companies sitting on piles of cash but not hiring new workers. For those who do hire, and create new jobs, he can offer tax incentives. He should finger the financial giants for refusing to clean up their own mess in the foreclosure crisis. He should point to the long overdue protections for credit card holders that came with reform.

And he should veto, veto, veto any bill that attempts to roll back some of the basic protections for people against the institutions that have so much control over their lives – insurance companies, Wall Street and big oil.

They will whine a fierce storm, the manipulators of great wealth. A war on business, they will claim. Not even close. Obama saved them, and the biggest cost was to him.

 

 

Michael A. Komorn

Attorney and Counselor

Law Office of Michael A. Komorn

3000 Town Center, Suite, 1800

Southfield, MI 48075

800-656-3557 (Toll Free)

248-351-2200 (Office)

248-357-2550 (Phone)

248-351-2211 (Fax)

Email: michael@komornlaw.com

Website: www.komornlaw.com

Check out our Radio show:

http://www.blogtalkradio.com/planetgreentrees

NEW CALL IN NUMBER: (347) 326-9626

Live Every Wednesday 8-9:30 p.m.

PLANET GREENTREES

w/ Attorney Michael Komorn

 

The most relevant radio talk show for the Michigan Medical Marijuana Community. PERIOD.

 

If you have a medical marihuana question or comment, please email them to me, or leave them on the forum for the MMMA, and I will try to answer them live on the air.

 

http://www.blogtalkradio.com/planetgreentrees

PLANET GREENTREES Call-in Number: (347) 326-9626

Call-in Number: (347) 326-9626

 

 

Attorney Michael Komorn’ practice specializes in Medical Marihuana representation. He is a board member with the Michigan Medical Marijuana Association (MMMA), a nonprofit patient advocacy group with over 16,000 members, which advocates for medical marihuana patients, and caregiver rights. He is also an experienced defense attorney successfully representing many wrongfully accused medical marihuana patients and caregivers. He is also the founder of Greentrees of Detroit, a medical marihuana community center that offers patient certification, legal consultation, cannabis education, business development, and caregiver’s classes.

[Marijuana Ranch]

420Interesting.

 

Thought provoking...

[+420Atheist]

It is nice to see Obama's two years fairly evaluated once in a while.

[Mary-Jane]

How Obama Saved Capitalism and Lost the Midterms

 

 

November 2, 2010, 11:59 PM

How Obama Saved Capitalism and Lost the Midterms

By TIMOTHY EGAN

 

 

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

[phaquetoo]

ohhhhhhhhhh Now i finaly almost see how this prez won the nobile peace prize!

 

I think i was just in a conspiracy thread a lil while ago, this one should prob of went there!

 

Peace

FTW

Jim

[raythat]

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

 

 

Bush

 

# Attacked and took over two countries.

# Spent the surplus and bankrupted the treasury.

# Shattered record for biggest annual deficit in history.

# Set economic record for most private bankruptcies filed in any 12-month period.

# Set all-time record for biggest drop in the history of the stock market.

# First president in decades to execute a federal prisoner.

# First president in U.S. history to enter office with a criminal record.

# First year in office set the all-time record for most days on vacation by any president in U.S. history.

# After taking the entire month of August off for vacation, presided over the worst security failure in U.S. history.

# Set the record for most campaign fundraising trips than any other president in U.S. history.

# In his first two years in office over 2 million Americans lost their job.

# Cut unemployment benefits for more out of work Americans than any president in U.S. history.

# Set the all-time record for most foreclosures in a 12-month period.

# Appointed more convicted criminals to administration positions than any president in U.S. history.

# Set the record for the least amount of press conferences than any president since the advent of television.

# Signed more laws and executive orders amending the Constitution than any president in U.S. history.

# Presided over the biggest energy crises in U.S. history and refused to intervene when corruption was revealed.

# Presided over the highest gasoline prices in U.S. history and refused to use the national reserves as past presidents have.

# Cut healthcare benefits for war veterans.

# Set the all-time record for most people worldwide to simultaneously take to the streets to protest me (15 million people), shattering the record for protest against any person in the history of mankind.

# Dissolved more international treaties than any president in U.S. history.

# My presidency is the most secretive and unaccountable of any in U.S. history.

# Members of my cabinet are the richest of any administration in U.S. history (the 'poorest' multimillionaire, Condoleezza Rice, has an Exxon oil tanker named after her).

# First president in U.S. history to have all 50 states of the Union simultaneously go bankrupt.

# Presided over the biggest corporate stock market fraud of any market in any country in the history of the world.

# First president in U.S. history to order a U.S. attack and military occupation of a sovereign nation.

# Created the largest government department bureaucracy in the history of the United States.

# Set the all-time record for biggest annual budget spending increases, more than any president in U.S. history.

# First president in U.S. history to have the United Nations remove the U.S. from the human rights commission.

# First president in U.S. history to have the United Nations remove the U.S. from the elections monitoring board.

# Removed more checks and balances, and have the least amount of congressional oversight than any presidential administration in U.S. history.

# Rendered the entire United Nations irrelevant.

# Withdrew from the World Court of Law.

# Refused to allow inspectors access to U.S. prisoners of war and by default no longer abide by the Geneva Conventions.

# First president in U.S. history to refuse United Nations election inspectors (during the 2002 U.S. elections).

# All-time U.S. (and world) record holder for most corporate campaign donations.

# My biggest lifetime campaign contributor presided over one of the largest corporate bankruptcy frauds in world history (Kenneth Lay, former CEO of Enron Corporation).

# Spent more money on polls and focus groups than any president in U.S. history.

# First president in U.S. history to unilaterally attack a sovereign nation against the will of the United Nations and the world community.

# First president to run and hide when the U.S. came under attack (and then lied saying the enemy had the code to Air Force 1)

# First U.S. president to establish a secret shadow government.

# Took the biggest world sympathy for the U.S. after 9/11, and in less than a year made the U.S. the most resented country in the world (possibly the biggest diplomatic failure in U.S. and world history).

# With a policy of 'disengagement' created the most hostile Israeli-Palestine relations in at least 30 years.

# Fist U.S. president in history to have a majority of the people of Europe (71%) view my presidency as the biggest threat to world peace and stability.

# First U.S. president in history to have the people of South Korea more threatened by the U.S. than their immediate neighbor, North Korea.

# Changed US policy to allow convicted criminals to be awarded government contracts.

# Set all-time record for number of administration appointees who violated U.S. law by not selling huge investments in corporations bidding for government contracts.

# Failed to fulfill my pledge to get Osama Bin Laden 'dead or alive.'

# Failed to capture the anthrax killer who tried to murder the leaders of our country at the United States Capital building. After 18 months I have no leads and zero suspects.

# In the 18 months following the 9/11 attacks I have successfully prevented any public investigation into the biggest security failure in the history of the United States.

# Removed more freedoms and civil liberties for Americans than any other president in U.S. history.

# In a little over two years created the most divided country in decades, possibly the most divided the U.S. has ever been since the Civil War.

# Entered office with the strongest economy in U.S. history and in less than two years turned every single economic category heading straight down.

[phaquetoo]

Bush

 

# Attacked and took over two countries.

# Spent the surplus and bankrupted the treasury.

# Shattered record for biggest annual deficit in history.

# Set economic record for most private bankruptcies filed in any 12-month period.

# Set all-time record for biggest drop in the history of the stock market.

# First president in decades to execute a federal prisoner.

# First president in U.S. history to enter office with a criminal record.

# First year in office set the all-time record for most days on vacation by any president in U.S. history.

# After taking the entire month of August off for vacation, presided over the worst security failure in U.S. history.

# Set the record for most campaign fundraising trips than any other president in U.S. history.

# In his first two years in office over 2 million Americans lost their job.

# Cut unemployment benefits for more out of work Americans than any president in U.S. history.

# Set the all-time record for most foreclosures in a 12-month period.

# Appointed more convicted criminals to administration positions than any president in U.S. history.

# Set the record for the least amount of press conferences than any president since the advent of television.

# Signed more laws and executive orders amending the Constitution than any president in U.S. history.

# Presided over the biggest energy crises in U.S. history and refused to intervene when corruption was revealed.

# Presided over the highest gasoline prices in U.S. history and refused to use the national reserves as past presidents have.

# Cut healthcare benefits for war veterans.

# Set the all-time record for most people worldwide to simultaneously take to the streets to protest me (15 million people), shattering the record for protest against any person in the history of mankind.

# Dissolved more international treaties than any president in U.S. history.

# My presidency is the most secretive and unaccountable of any in U.S. history.

# Members of my cabinet are the richest of any administration in U.S. history (the 'poorest' multimillionaire, Condoleezza Rice, has an Exxon oil tanker named after her).

# First president in U.S. history to have all 50 states of the Union simultaneously go bankrupt.

# Presided over the biggest corporate stock market fraud of any market in any country in the history of the world.

# First president in U.S. history to order a U.S. attack and military occupation of a sovereign nation.

# Created the largest government department bureaucracy in the history of the United States.

# Set the all-time record for biggest annual budget spending increases, more than any president in U.S. history.

# First president in U.S. history to have the United Nations remove the U.S. from the human rights commission.

# First president in U.S. history to have the United Nations remove the U.S. from the elections monitoring board.

# Removed more checks and balances, and have the least amount of congressional oversight than any presidential administration in U.S. history.

# Rendered the entire United Nations irrelevant.

# Withdrew from the World Court of Law.

# Refused to allow inspectors access to U.S. prisoners of war and by default no longer abide by the Geneva Conventions.

# First president in U.S. history to refuse United Nations election inspectors (during the 2002 U.S. elections).

# All-time U.S. (and world) record holder for most corporate campaign donations.

# My biggest lifetime campaign contributor presided over one of the largest corporate bankruptcy frauds in world history (Kenneth Lay, former CEO of Enron Corporation).

# Spent more money on polls and focus groups than any president in U.S. history.

# First president in U.S. history to unilaterally attack a sovereign nation against the will of the United Nations and the world community.

# First president to run and hide when the U.S. came under attack (and then lied saying the enemy had the code to Air Force 1)

# First U.S. president to establish a secret shadow government.

# Took the biggest world sympathy for the U.S. after 9/11, and in less than a year made the U.S. the most resented country in the world (possibly the biggest diplomatic failure in U.S. and world history).

# With a policy of 'disengagement' created the most hostile Israeli-Palestine relations in at least 30 years.

# Fist U.S. president in history to have a majority of the people of Europe (71%) view my presidency as the biggest threat to world peace and stability.

# First U.S. president in history to have the people of South Korea more threatened by the U.S. than their immediate neighbor, North Korea.

# Changed US policy to allow convicted criminals to be awarded government contracts.

# Set all-time record for number of administration appointees who violated U.S. law by not selling huge investments in corporations bidding for government contracts.

# Failed to fulfill my pledge to get Osama Bin Laden 'dead or alive.'

# Failed to capture the anthrax killer who tried to murder the leaders of our country at the United States Capital building. After 18 months I have no leads and zero suspects.

# In the 18 months following the 9/11 attacks I have successfully prevented any public investigation into the biggest security failure in the history of the United States.

# Removed more freedoms and civil liberties for Americans than any other president in U.S. history.

# In a little over two years created the most divided country in decades, possibly the most divided the U.S. has ever been since the Civil War.

# Entered office with the strongest economy in U.S. history and in less than two years turned every single economic category heading straight down.

 

 

dude did you have that ready to copy and paiste, or did you write all of that/ that quick?

 

holy donkey doo doo!

 

Peace

FTW

Jim

[peanutbutter]

Naaa ..

 

The trigger events are the cash flows in and out of the Federal Reserve.

 

It seems that the fed wishes the general population to be dissatisfied with our form of government.

 

Cash pulled out of circulation before an election and cash injected after.

 

This time they injected $600 billion into our economy the day after the election. No idea how much they pulled out before the elections.

[Grow Thread]

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

 

i demand an answer instantly and before i will allow you to post further on this site.

 

no big deal............ im not dropping any hammer, but i wanna know what the hell the spit spells that comes out of your mouth.

 

who is the biggest liar??

 

wtf are you talking about?

 

who is the moron?

[+Silverblue]

dubya bush is the WORST president we ever had and we're still hurting from his evil deeds. That miserable excuse for a human being is contemptible, despicable, and as far as I'm concerned, PURE EVIL. Obama ain't perfect, I'm disappointed, but I can't say he's done nothing good. He INHERITED this mess, now those who helped create it are claiming to be able to save the day. I don't understand why Obama has extended many of bush's policies, that's what really hurts.

 

sb

[Guest OxXGarfieldXxO]

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

 

Um Mary.....Didn't I just defend your honor in the Chat room when a member made a lewd comment to you? Do you really think you're doing any different by calling people an idiot? We do not make personal insults in here. No reason to. Debate it out....Fine. But drop the insults.

 

I just came in cause I seen your name in a report, and this was like last night I had to step in. I'm sure the moderators are going to say something, but I just wanted to call you out.

 

Please...Don't get personal friends.

 

Best

[floweralliance]

i demand an answer instantly and before i will allow you to post further on this site.

 

no big deal............ im not dropping any hammer, but i wanna know what the hell the spit spells that comes out of your mouth.

 

who is the biggest liar??

 

wtf are you talking about?

 

who is the moron?

 

Thank you bubblegrower. . . the reply is very offensive. Thank god the anti-mmj crowd isn't all irrational and rude like that, cough, cough (snark)

- and what an incredible point is being made by M. Komorn.

[floweralliance]

Naaa ..

 

The trigger events are the cash flows in and out of the Federal Reserve.

 

It seems that the fed wishes the general population to be dissatisfied with our form of government.

 

Cash pulled out of circulation before an election and cash injected after.

 

This time they injected $600 billion into our economy the day after the election. No idea how much they pulled out before the elections.

 

Any links to that? Not that I don't believe you.

. . Sounds like the Jesse Ventura Conspiracy show on Friday night: He said the Wall Street crowd got played by some shadowy group based in Italy and then the taxpayers bailed them out to keep everything "progressing". I know you like the Ron Paul cause I've heard you on Greentrees mention them - I've supported Paul's Fed reform cause for over 25 years yet I think these days there are far better candidates who wouldn't privatize SS or keep healthcare privatized, but still would reform the Fed and finally bring economic justice to the masses. Corporate R's replaced the libertarian ones a long time ago otherwise we would have sane mmj policy in USA.

[greenbuddha]

I'm going to check into organizing a 'Green-Libertarian' party.

 

It will let everyone USE MMJ put they'll have to PAY for it THEMSELVES. (chuckles, laughs, etc.)

[greenbuddha]

And saving Capitalism was a GOOD idea?

 

Obviously we need to continue a system that allows a few unscrupulous bast*rds to manipulate the entire earth.

 

Just kidding of course.

 

And of course I realize it 'IS' based upon 'freedom'... we are always free to become one of the greedy bast*rds our self and do the same thing.

 

And I totally understand that 'welfare' is a good thing when it is handed out to the people at the top in the form of 'bailouts' and the people at the 'bottom' are told to get a non-existent job.

 

Sorry, won't buy into that one again. Politics is a MONEY game pure and simple... and the tax payer foots the bill.

 

And when the 'politicians' get it together enough to at least show some sanity in regards to a simple issue like changing 'cannabis laws' I'll begin to believe that maybe 'basic' American freedoms might still be a valued thing and that the clowns we send to Washington and Lansing are beginning to pull their craniums out of their anus.

 

Cynical? Yeh... But at this point I believe a person has the right to be.

 

But.. in the next election you can bet I'll help another 9 people or more get to the polls... if for no other reason than to keep the bast*rds guessing.

 

'Little pink houses'.

[mizerman]

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

Why don't you put the glue down and go walk the Jack Russell's?

[peanutbutter]

Any links to that? Not that I don't believe you.

. . Sounds like the Jesse Ventura Conspiracy show on Friday night: He said the Wall Street crowd got played by some shadowy group based in Italy and then the taxpayers bailed them out to keep everything "progressing". I know you like the Ron Paul cause I've heard you on Greentrees mention them - I've supported Paul's Fed reform cause for over 25 years yet I think these days there are far better candidates who wouldn't privatize SS or keep healthcare privatized, but still would reform the Fed and finally bring economic justice to the masses. Corporate R's replaced the libertarian ones a long time ago otherwise we would have sane mmj policy in USA.

 

Is this the link you were asking for?

 

Federal Reserve action

 

edit .. Oh yes .. the DOW was up big that day.

[+RevThad]

The Fed will be forced to suck a whole lot of cash out of the system in the future. With all of the "monopoly" money that has been printed over the last 3.5 years, I am surprised it hasn't occurred yet.

 

I could go into a diatribe about inflation coming, and interest rates going up, but hell you guys already understand the whys and wherefores.

[peanutbutter]

The Fed will be forced to suck a whole lot of cash out of the system in the future. With all of the "monopoly" money that has been printed over the last 3.5 years, I am surprised it hasn't occurred yet.

 

I could go into a diatribe about inflation coming, and interest rates going up, but hell you guys already understand the whys and wherefores.

 

Real money grows on trees. You can't just print more of it. You have to grow it.

 

The day after the election saw everything that a bank could purchase go up in price.

 

Everything goes up in price .. everything goes up in price ..

If you turn that upside down .. "the dollar bought less, today."

 

They devalued the dollar.

[peanutbutter]

Our money has been gutted as far as value goes.

 

My case:

 

How much bud could you purchase with 20$ if that 20$ were a 20$ gold coin?

 

Today that $20 gold coin would be worth about 1,300 paper dollars.

 

Today you can purchase a quarter pound of the highest grade cannabis for only $20.. as long as you use "hard" money.

 

In all the time between 1959 and today, cannabis has kept it's value much more than the federal reserve controlled paper.

 

I could have paid the right person back then a gram per hour for labor. I can do the same today.

[greenbuddha]

I don't know if you are the biggest liar or the biggest making whoopee moron I have ever see. The stock market hit it's highest point EVER under Bush. 14000 you idiot. After Obama was elected it hit a major low. Obama has overseen the worst stock market performance in the history of America for a new president. Do you even live in the USA?

 

The correlation between who is president and the stock market going up is one of a psychological nature as much or more than it is a condition of economics.

 

And if a person wanted to 'really' see how the stock market went up so high under Bush you would have to look at the 'lack' of regulation of both the stock market AND the 'home loan' industry.

 

One of the major underlying problems that caused the 'crash' was that the banks were 'allowed' to set up stock purchasing / selling companies and the 'banks' then proceeded to artificially boost stock prices by manipulating 'buys' and 'sells' as well as 'bond' ratings.

 

These same bank owned 'stock' companies ALSO SOLD these same bad loans to OTHER investment companies AROUND THE WORLD.

 

When it was discovered that most of these 'home loans' were 'bad' people started to try and unload them but by then NO ONE wanted them... the 'housing bubble' then popped, affecting the 'entire world's' economic condition.

 

That is why if you own a home it is potentially worth less than 'half' what it was before our man 'Bush' left office.

 

Didn't mean to run on with the 'economic' history lesson... but as it is said.... 'That's what it is, Baby!'

 

And it all goes right back to 'big money' and our illustrious politicians... be they Republicans OR Democrats.

 

'Little Pink Houses'... now worth even 'less'.

 

Emotions and our own attitudes will blind us to what is being done in the 'political' and 'business' backrooms.

[peanutbutter]

And it all goes right back to 'big money' and our illustrious politicians... be they Republicans OR Democrats.

 

And the biggest of the big money is the federal reserve.

[mizerman]

The correlation between who is president and the stock market going up is one of a psychological nature as much or more than it is a condition of economics.

 

And if a person wanted to 'really' see how the stock market went up so high under Bush you would have to look at the 'lack' of regulation of both the stock market AND the 'home loan' industry.

 

One of the major underlying problems that caused the 'crash' was that the banks were 'allowed' to set up stock purchasing / selling companies and the 'banks' then proceeded to artificially boost stock prices by manipulating 'buys' and 'sells' as well as 'bond' ratings.

 

These same bank owned 'stock' companies ALSO both MADE and SOLD bad loans to OTHER investment companies AROUND THE WORLD.

 

When it was discovered that most of these 'home loans' were 'bad' people started to try and unload them but by then NO ONE wanted them... the 'housing bubble' then popped, affecting the 'entire worlds' economic condition.

 

That is why if you own a home it is potentially worth less than 'half' what it was before our man 'Bush' left office.

 

Didn't mean to run on with the 'economic' history lesson... but as it is said.... 'That's what it is, Baby!'

 

And it all goes right back to 'big money' and our illustrious politicians... be they Republicans OR Democrats.

 

'Little Pink Houses'... now worth even 'less'.

 

Emotions and our own attitudes will blind us to what is being done in the 'political' and 'business' backrooms.

Usually people like Mary Jane/Mary Wanna have a hard time dealing with facts.

 

Why hasn't this nut been BANNED?

 

 

Mizerman

[greenbuddha]

Usually people like Mary Jane/Mary Wanna have a hard time dealing with facts.

 

Why hasn't this nut been BANNED?

 

 

Mizerman

 

Mize, If they 'ban' nut cases I'll probably be first on the list.

 

But honest... I'm trying ta keep it together!

[mizerman]

Mize, If they 'ban' nut cases I'll probably be first on the list.

 

But honest... I'm tryin'g ta keep it together!

Hell, I'm a huge nut!

 

But, I don't try and be a "fecal matter stirrer" like snipped out by pb

edited out by peanutbutter. Might edit out even more.

 

 

Mizerman