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Originally posted by Arthur
First point of order, your immediate and extended family sound pretty interesting, the kind of folks that I'd love to know.
Secondly, addressing your father's and many other folks view point on the handling of the economic status of the country - I stated this before. It is highly unlikely that our country will see a definite economic recovery over the course of the decade ahead. What everyone in the current administration will not (and cannot) tell the general public is that we are practically in another Great Depression. We have Wall Street and the State Department to thank for that. The fabricated and imaginary economic boom of the 90's has to be adjusted back to a normal rate of growth. Retirement funds and pensions are funding this fake recovery as they are invested in a mortgage rate fiasco that will maintain cash in the pockets of the Wall Street moneymakers. This way when the bottom really drops and the government has to admit it to the public - Wall Street can come in a buy all that low interest rate property for $0.10 on the dollar. You see they are not investing in the country's economic recovery they're banking on its failure. The Middle class will be decimated by this - the administration's only hope is keep money in the pockets of those who have it so that they may help the economy back out after it hits bottom. Deficit spending, who really care's what inevitable is inevitable... Besides the government has more income than it ever has in any point in history - it's simple money mismanagement or abuse.
The economy has to adjust itself. You see there really is nothing that the current administration can really do to compensate the failures of the previous administration. You will not see that judged in your lifetime but history will judge it…Trust!
I strongly encourage everyone to find a way out of debt in the very near future…
Of course what do I know? |
It seems that we read many of the same publications. I tend to agree with what you said, except I think it's a VERY far stretch to blame all of our economic problems on the Clinton administration. We were not dragged into this pit over an eight year period - this has been building up for a very long time. While I agree that the 90's bubble is a major factor in this, you cannot blame that on any politician nor can you isolate that as the single reason for our current situation. I'm sure I don't have to explain the policies of the federal reserve and the big banks to you as you seem to already have a good grasp on this.
In any event, the mistakes of the past have been made and we now have to deal with them or die trying. I save about 30-40% of my income because I understand what lies ahead. But you cannot for a sinlge moment convince me that GWB is handling this economic crisis in a prudent manner. Running up record deficits and spending billions of dollars a month to engage in war is going to drive us MUCH further down into the quicksand. And you know damn well that a great majority of money he is refunding to taxpayers is NOT going into the pockets of the middle class as you have implied.