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534 Comments
- sdrDusty, on 09/14/2008, -18/+285But... but... Sean Hannity sez the economy is the best it's ever been!
http://www.topshelfdogfood.com/2008/09/hannity-you ... - GoneGreen, on 09/14/2008, -39/+243It's about the Economy... Stupid... Don't let them put lipstick on the republican pig this year. The McCain/Palin ticket will completely distroy the America we have known in the past, and still love dearly.
- pfleischman, on 09/14/2008, -5/+159I've never been so afraid for my country before.
- chupavacas, on 09/14/2008, -33/+167Greenspan caused this economy by his interest rate reduction which created the housing bubble (which was an attempt to solve the dot com/year 2000 bubble). My advice to Greenspan would be to go into hiding because as this economy get worse more and more people will start pointing the finger of blame at him and he'll start to become a very unpopular figure.
- sharpfork, on 09/14/2008, -20/+136Let the right wing Greenspan bashing commence. He no longer fits their narrative so they will give him the double barrel Rove while continuing to manufacture outrage and LIE about Obama and Palin to try to keep the discussion on soap opera politics instead of real issues. McCain has sold out his honor and put politics and the GOP over the USA.
Despicable... - inactive, on 09/15/2008, -18/+104Ron Paul any one?
- odigity, on 09/15/2008, -10/+91Abolish the Fed.
- nysus, on 09/14/2008, -5/+78Yeah, if you're Sean Hannity pulling down millions of dollars being a lapdog for the right-wing smear machine. He's doing just fine!
But that's the problem with Republicans in general. As long as they got theirs, they could give a ***** about anyone else. - SheilaNoya, on 09/14/2008, -8/+67If you think the economy is shaky now, just wait to see how bad it gets if we continue Bush's economic policies for four more years.
I retired during the prosperous Clinton years and was doing quite well. But now, it's getting tougher and tougher each year to maintain my standard of living. I'm still much more fortunate than most, but I see so many seniors falling into financial ruin now that it scares the hell out of me.
McCain has surrounded himself with all of the same cronies that Bush appointed. He has no plans to get rid of these incompetent and self-serving bozos. If you expect us to pull out of this mess we're in, then you certainly shouldn't vote for John McCain and his band of Bush loyalists that he's now adopted.
Save America and kick the Republicans OUT of office. Otherwise, we're doomed to follow the same destructive path we're on now. - nysus, on 09/14/2008, -11/+67Well, at least we got to witness and enjoy (at least some of us) the peak economic power of Western capitalist society. Now brace yourselves, we could be in for a very bumpy ride down, folks.
- brad3378, on 09/14/2008, -14/+69Did you forget that both McCain and Obama support the bailouts of Fannie & Freddie?
Shameless plug:
http://digg.com/politics/Just_how_much_money_does_ ... - jasoninoakland, on 09/14/2008, -3/+42Has anyone else noticed the more desperate the GOP shills get, the *louder* they get?
- jakeshdaddy, on 09/15/2008, -9/+47It's kinda like taking a huge crap in the middle of the room, and complaining about it stinking!
- algaeturd, on 09/14/2008, -15/+52And a huge portion of Americans want the same ***** for the next four years?
They should be locked away...they're a danger to our society and our economy.
Any fool who wants to continue this trend might as well be slitting the throat of what's left of this country.
I've said it before and I'll say it again: republicans will be the death of this country. - kylere, on 09/15/2008, -15/+51Thanks for your contributions to the downfall Alan!
- Shaman760, on 09/15/2008, -14/+49Greenspan should be feeling a tinge of regret, he helped engineer this stinking mess.
- inactive, on 09/15/2008, -9/+43 I'm so sick of this guy. He speaks as if he didn't help cause our current mess. 2 years ago when the "conspiracy nuts" were saying we were headed for big trouble somehow he didn't see any of this coming. Yet he's still a respected genius and the Ron Paul followers are still fringe kooks. Funny how that works.
- Richandler, on 09/15/2008, -0/+33He did call this along with his group of friends 6 years ago. Not only what would happen but how it would happen too.
- Sp0rAdiC, on 09/15/2008, -6/+39kylere - Those bankers are the idiots for letting someone with a 32k salary buy a 750k house. How is it not their fault?
- inactive, on 09/14/2008, -16/+48Uh, but it was Greenspan's policy of maintaining low interest rates for too long that created this bubble. So Greenspan should be taking responsibility for this mess.
- hiphoc, on 09/15/2008, -6/+38Greenspan knows exactly whats going to happen because he and his Federal Reserve is the cause of this bubble.
- m0llusk, on 09/14/2008, -2/+33That is way off. The Federal Reserve were in a position to see everything that was happening and call for regulations. Sure, there was more than just the interest rate goof at work here, but that was key. Easy Al himself told the American public to load up on adjustable debt at the worst possible time and trivialized a huge bubble by labeling it froth. Some people like blaming borrowers and others like blaming lenders, but both those groups and others as well share the blame for this mess.
- inactive, on 09/15/2008, -15/+45And Obama wants to grow government by $1 Trillion and not curb spending.
No matter who gets in, the tax payer is *****.
This ain't going away in 4 years. - uncleosbert, on 09/14/2008, -4/+33and that should mean something, since he was born in 1926. he's seen some truly ***** economies!
http://en.wikipedia.org/wiki/Alan_Greenspan - biotch, on 09/15/2008, -7/+33Oh you like FACTS Jabber?
GDP grew at a faster pace under Clinton than it did under Reagan, Bush sr. and Bush jr.
Clinton created almost as many (population adjusted) jobs (23 mil) as Reagan (16 mil), Bush sr. (3 mil), and Bush jr. (5 mil and declining).... COMBINED
Unemployment went from 7.3% to 4.2% under Clinton (lower than it got amongst Reagan, Bush sr. and Bush jr.) and has climbed from 4.2% to 6.1% under Bush jr.
Reagan, Bush sr. and Bush jr. all consecutively broke the deficit record. Clinton turned the deficit he received into a surplus even if you discount Social Security spending.
Poverty went UP under Reagan, Bush sr. and Bush jr. and DOWN under Clinton.
Clinton raised discretionary spending the least out of Reagan, Bush sr., Clinton, and Bush jr., and ... balanced the budget.
Investment in the stock market was greater than investment under Reagan, Bush sr. and Bush jr. Even after the crash in 2001, stocks remained at 300% what they were when Clinton took office.
The richest 20% in this nation have increased their share of the total income pie year after year (with the exception of a few years) since 1982. This was true even when Clinton was taxing the rich at higher rates. The richest 5% are gaining their share at an even faster pace, all at the expense of every other income bracket. All Clintons tax plan did was slow this down.
And no this did not happen because Reagan and Bush had set Clinton's economy up for success. Trickle down economics had 12 years and failed to produce one single year of surplus (If you include Bush jr. thats 20 years of trickle down economics without one year of surplus). Finally after Clinton stopped trickle down economics, we saw the longest and largest economic expansion in US history.
Sources:
debt by party
http://i27.tinypic.com/120m447.jpg
Clintons surplus even when discounting SS
http://www.factcheck.org/askfactcheck/during_the_c ...
GDP
http://www.bea.gov/national/nipaweb/TableView.asp? ...
Spending
http://www.factcheck.org/defending_spending_bushs_ ...
Spreadsheet including reagan and bush spending
(all of which outpace Clinton)
http://www.whitehouse.gov/omb/budget/fy2005/sheets ...
Investment:
note the dow and nasdaq remained at above 300% what they were when Clinton took office even after the 2000 downturns
http://stockcharts.com/charts/historical/nasdaq197 ...
http://stockcharts.com/charts/historical/djia1900. ...
http://politicaltracker.blogspot.com/
Share of total income by income bracket
http://www.census.gov/hhes/www/income/histinc/h02a ...
poverty:
http://www.census.gov/hhes/www/poverty/povertyrate ...
jobs:
http://www.bls.gov/cps/
http://en.wikipedia.org/wiki/Jobs_created_during_U ...
http://www.factcheck.org/bush/facts_of_the_union_2 ...
Unemployment:
http://data.bls.gov/PDQ/servlet/SurveyOutputServle ... - budzilladigg, on 09/14/2008, -2/+26I had no idea Hannity was such an idiot. A member in good standing of the Low IQ Posse.
- GoneGreen, on 09/14/2008, -28/+51Sorry, it wasn't the interest rates, it was the greedy lending institutions who put profits before risk. They created the bubble, and they are solely responsible for the instability in the housing market... thanks for playing.
- cadmiumpaint, on 09/15/2008, -1/+23Sean Hannity makes millions being a propaganda minister for the GOP.
- sensibledriver, on 09/15/2008, -18/+39Dear Greenspan:
This economy is YOUR ***** FAULT, idiot. - biznatch11, on 09/15/2008, -4/+24Worst...economy...ever.
- techguru2006, on 09/14/2008, -5/+25When taking a stance in politics, there is always a worthy counter-stance. Personally I don't believe the best way to stimulate the economy is by additional to the national debt of $9 trillion. But at the same time, I don't enjoy seeing a big chunk of my paycheck being sent to the government.
At the end of the day, I'm spending less money today than I ever was before because of my lack of confidence in the current economic state. I had to leave my last job which pays a lot more because they lacked confidence in their ability to increase profits due to the current economic state too.
Whoever the next President is, I can only hope that they do their part in creating thousands of new jobs to increase consumption confidence. - thedogfatherx, on 09/15/2008, -3/+22There is no doubt our economy is kind of ***** but if you think the next president, whether it be obama or mccain, is going to magically fix the economy then your dreaming.
- iloveobama, on 09/15/2008, -10/+28This is why we needed someone like Ron Paul, who correctly predicted this. Obama and McCain both seem to want to ignore it or pursue the wrong method to fix it. Do you think more socialistic policies will solve this problem?
- cadmiumpaint, on 09/15/2008, -7/+25Republican presidents are historically bad (recent presidents) for the economic health of this country and McCain wants to continue this legacy. For all the b.s. stump speeches they give about lowering spending and making smaller government they just spend spend spend, and try to create a big brother government every chance they get.
Just say no to 4 more years of the GOP. - explnx, on 04/27/2009, -5/+22I too feel that looks are the greatest determinant of political insight.
- 570001, on 09/15/2008, -2/+19Exactly. I'm sick of this THE DEMOCRATS WILL SAVE US ALL theme I'm seeing everywhere.
I'm not trying to scream RON PAUL RON PAUL here, but there's not really much difference between the two sides. - deadbaby, on 09/15/2008, -5/+22The thing is the Republicans are willing to blame someone else. When the economy first started slumping under Bush they blamed Clinton. Then they blamed the immigrants for a while. Then the Democrats won congress and suddenly everything was their fault. Now in 2008 they're blaming high oil prices which they helped create by ignoring alternative energy and starting a huge pointless war that destabilized the region. They're always willing to pass the blame and they're always convinced their candidate is actually going to fix everything. McCain's promises in 08 are almost a carbon copy of Bush's promises in 00. Didn't really pan out then, why should we expect it will now?
- cswake, on 09/15/2008, -1/+17You are not looking at the root cause, Frank is. F.A. Hayek won the 1974 Nobel Prize in Economics for proving that Central Bank monetary policy causes the boom/bust cycle.
- inactive, on 09/15/2008, -1/+17BOTH parties are idiots
Obama = Jimmy Carter II - thegsa, on 09/15/2008, -0/+16Involvement in "Enron Loophole" Legislation
Gramm was one of five co-sponsors of the Commodity Futures Modernization Act of 2000[3]. One provision of the bill was referred to as the "Enron loophole" because the House Agriculture Committee drafted it and it was later applied to Enron. Some critics blame the provision for permitting the Enron scandal to occur.[4] At the time, Gramm's wife was previously on Enron's board of directors.
John McCain presidential campaign, 2008
He was John McCain’s presidential campaign co-chair[5] and his most senior economic adviser[6] from summer 2007[7] to July 18, 2008.[5]
While advising the McCain campaign, Gramm was being paid by UBS to lobby Congress about the U.S. mortgage crisis. During this time, "the mortgage industry pressed Congress to roll back strong state rules that sought to stem the rise of predatory tactics used by lenders and brokers to place homeowners in high-cost mortgages."[8] According to Politico.com, Gramm had input on McCain's March 26, 2008 policy speech on the mortgage crisis.[8]
http://en.wikipedia.org/wiki/Phil_Gramm - archiesteel, on 09/15/2008, -3/+19"The liberal media including the Digg website has you brainwashed."
Wow, you're really losing it, aren't you? - GoneGreen, on 09/15/2008, -9/+25I am the boss, I will be negatively affected by the tax changes. Yet, I am still voting Obama... Wrap your head around that.
- freedomreins, on 09/15/2008, -7/+21What we need now is a surge in federal fiscal responsibility
~ Bob Barr - GoneGreen, on 09/14/2008, -8/+22You enjoy the ride... gritting your teeth when Obama becomes YOUR next president... Cuba will sound pretty good then I bet... oh wait, you are probably a biggot and dislike latin people too... how unfortunate for you.
- alabamasucks, on 09/15/2008, -3/+17Well stop making money you can't back!
- ScottMitchell, on 09/15/2008, -2/+16And saying, "That's one of the stinkiest ***** I've smelled this century."
- ferrariman60, on 09/15/2008, -1/+15Wow, that was well thought out. What about the thousands of small businesses that already pay their employees more than $9.50? Give me a break.
And let me guess- you make at least $95k per year, and therefore have no clue what it's like to make minimum wage. That about right? Do you know that your taxes will still go down under Obama if you're making less than $250k per year? That's about the top 0.5% of the population. - rytr23, on 09/15/2008, -6/+19It was actually thanks to Phil Gramm.. Who btw was McCain's economic advisor. he pushed through legislation to deregulate the banking industry which according to multiple sources, was the primary cause of the crash now. But according to him we're all "whining babies" Thanks Phil and John! Who, btw also cost us taxpayers 250B with the Savings & Loan Scandal.. What a guy!
We are ***** because of the red state rubes in this country.. - goes211, on 09/15/2008, -0/+13All the political class knows this is going to be very bad. There comments to the contrary are lies. Their excuse will be that it is not their fault and they are trying to minimize panic.
The problem is that it is their fault. It was caused either directly by their actions (unnecessary spending & wars) or indirectly ( lack of oversight, creation of Federal Reserve, ... ). Don't forget it! -
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