Starkly different styles. Who's to lead? This is serious times. International financial markets like China and Saudi Arabia have drastically limited (basically stopped) their purchase of American Treasuries. Can the American Treasury fall below a triple A rating? It's not inconceivable. America has been so arrogant towards the world over the past five years, many countries hate Americans and would love to see it economic markets fail.
I'm NEVER been a doom and gloom person, never in my life, but I firmly believe the future of the U.S. economy lies clearly on the confidence of it's constituents. If the U.S. government can't maintain U.S. confidence in the U.S. financial system. It's going to be gloom and doom. And all I can say, thank you, G. W. Bush. And if you're someone who voted for him in 2000 and/or especially in 2004, you deserve the gloom and doom. Enjoy it!
BTY, what's up with McCain's left eye?
September 19, 2008
The Contrast: Barack Obama vs. John McCain
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2 comments:
It is a bit disingenous to blame only the arrogance of the admistration for the financial meltdown. We, as a people, have been financially arrogant for some time as we spend more than we save.
This reliance upon credit extended by others, by both the US government and consumers (and not just during the Bush years), led to the buildup of leverage that we are now in the painful process of undoing.
I concur on being disingenuous on the debt issue. Honestly, I don't think the U.S. in the near future would below a triple A rating. The U.S. economy is huge. It almost a phenomenon, if you ask me.
However, I think the U.S. duped the international markets into purchasing bad mortgage back debt. And that is directly related to the Bush Administration. It's the governments responsibility to regulate financial institutions. And somewhere around 2001 and 2002 the mortgage brokers started to push the credit boundaries on mortgages, and the Bush Administration absolutely nothing about it. Many of the mortgages made during 2005 to 2007 period should not be made. Bush was too busy trying to falsely justify the Iraq War and instill fear in the American psyche, than regulate the mortgage market.
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