This is a Republican Recession.
Republicans are responsible for the Total Debt; Deregulation of the Savings & Loans, Trade, Mortgages, and Credit Swap Derivatives; the War in Iraq; and they are responsible for the Recession.
Republican Administrations are responsible for $14 Trillion of the $15 Trillion in Total Debt.
When Jimmy Carter left office, the Total Deficit was only $900 Billion. Ronald Reagan left office, with the Total Debt around $5 Trillion, an increase of $4.1 Trillion; George Bush Senior left office, with the Total Debt around $7 Trillion, an increase of $2.9 Trillion; Bill Clinton left office, with the Total Debt still around $7 Trillion; and George W Bush left office with the Total Deficit around $15 Trillion, which includes an estimated $5 Trillion in future war costs.
So Republican Administrations are responsible for $14 Trillion of the $15 Trillion in Total Debt.
Under Ronald Reagan, and with the help of Republican Senator Phil Gramm, Savings & Loans were deregulated.
And Ronald Reagan campaigned for the North American Common Market and put in place the Trade & Tariff Act, which was the impetus for NAFTA.
Republican Senator Phil Gramm is one of the principles responsible for pushing through the Gramm-Leach-Bliley (GLB) Act of 1999; which deregulated mortgages.
And Republican Senator Phil Gramm is one of the principles responsible for pushing through the Commodity Futures Modernization Act of 2000; which deregulated credit swap derivatives.
The Gramm-Leach-Bliley (GLB) Act of 1999 and the Commodity Futures Modernization Act of 2000 are considered to be principle causes of the current financial crisis.
Now the Republicans are making politically motivated public statements, hyping the fear of nationalizing the banks, and discrediting President Obama’s economic stabilization and stimulus programs.
In so doing, they are undermining the support, and sustainability of all financial institutions, global equities markets, and the global economy.
The Republicans are the primary cause of the recession, and may be the primary cause of America’s Next Great Depression.
Almost all economists know a recovery plan is needed. Some may disagree with some of President Obama’s Recovery Plan; but, all agree something needs to be done.
While at the same time, Republicans are only proposing to cut taxes, to stimulate the economy; and then they oppose any support for financial institutions. They appear to be ready to let critical financial institutions be nationalized.
Certainly, if a bank needs to be nationalized, there is nothing we can do but nationalize it. But, we should not negligently cause banks to be nationalized.
If a major American multi-national financial institution; like Citibank, Bank of America, or AIG; were to be nationalized; it would directly undermine support for regional, national, and multi-national financial institutions; causing runs on effected banks, and possibly contributing to failures of additional banks. All the while, greatly undermining support for all global equities and economies.
The problem is, Republicans are intentionally making politically motivated public statements; which are undermining the support, and sustainability of all financial institutions, global equities markets, and the global economy.
Republicans are responsible for the Total Debt; Deregulation of Trade, Mortgages, and Credit Swap Derivatives; the War in Iraq; and they are responsible for the Recession.
And, the Republicans will also be responsible if the recession worsens.
Seems to me like all you guys are morons. These politicians are all on the same team behind closed doors!! They know nothing about the average American, they are all well to do, social elites. Look at Bloomberg, who spent a reported $100,000,000 ( one hundred million for you nimrods ) on his re-election campaign for a job that pays MAYBE.....$200,000 a year? All of you are too busy focusing on small petty racism(both from Blacks and Whites), and stupid party affiliations. Morons!!! The thieve politicians want it like this, to worry bickering amongst ourselves so we don't focus on the real criminal thievery going on. They are raping and stealing everything we have----BOTH OF THEM!!! You work from January till mid May for free....SLAVES.......all of you need to grow up and ban together and let BOTH parties know we're sick of it!!
Most Republican Reps are incompetent self centered and self serving criminals.
Most Democrats Reps are incompetent enablers.
And let’s face it, Americans as a whole are too apolitical to bring about any progressive change. This is evident when ONLY 1 Million out of 300 Million Americans, that’s ONLY .03% of Americans, protested the War in Iraq.
Less than that protested Deregulation of Trade. And I don’t think anyone protested Deregulation of Mortgages or Credit Swap Derivatives.
Goodie for them! It doesn't matter who did what! What matters now is moving forward and making some money. Leave the blame game to the historians. For investors the past is done! How do you make money off it?? GL
I am not in a recession. 80% of the American public has a credit score over 700, a fact. They are making money, paying there new car payments credit payments, house payments and summer homes as well. The other 20%, that is there problem. The POS in the whitehouse is pumpin your feeble mind full of $hit and your crybaby post make us all laugh our A sses off. LMFAO
The rhetoric is so abrasive, so self assured between dems and repub. it scares me. There used to be certain things we could agree on, but now everything is spun to be either black or white. I agree with certain of the posts on this thread, but I got to tell you, the split in this country's public opinion and the quality of debate scares me.
Am surprised, most Dems are saying recession is over. Thanks, at least you know it is recession. A recession is created by an imbalance in supply and demand. This one is a minority recession, they bought homes and did not pay there mortgage. There buying the homes caused the builders to build more. Then they were foreclosed. It was created when the banks did not verify income of mortgage applicants. A lot of applicants lied. The last time it was this bad was in the 50s, and it took 8 years to get back to balance. It is worse now, so be prepared for a lot of negatives, this is regardless of party affiliation. The pump in the markets is stimulus money and the financial media and those in the markets making a living need you to invest so they donot lose there paycheck. So you should invest and save there 7 figure jobs, let them have your money. Just look for a reward, donot weigh risk, take a gamble, make someone happy.
You Republican Retards are so full of $hit.
And you must not be able to read:
You like to blame the Democrats for the spending; but, all the big spending was done by the Republicans.
1. Iraq War will cost upwards of $7 Trillion, when it is all said and done.
2. Reagan’s Star War Defense Initiative probably cost $Trillions.
3. Reagan’s 600 ship fleet probably cost $Trillions.
Name me one thing the Democrats spent money on that cost more than the Iraq war?
What was the Total Deficit when Jimmy Carter left office? $900 Billion
What was the Total Deficit when Ronald Reagan left office? Around $5 Trillion
What was the Total Deficit when George Bush Senior left office? Around $7 Trillion
What was the Total Deficit when Bill Clinton left office? Still around $7 Trillion
What was the Total Deficit when George Bush Junior left office? Around $11 Trillion, and there is an additional $5 Trillion expected from future Iraqi War costs.
So what Administrations spent more money?
I’m not going to respond to your Retarded Republican Lame Ass Bull$hit anymore. It's just a waste of my time. You're too stupid to learn.