The mortgage companies going down is the MORTGAGE Co.'s fault for giving out high risk loans. The turmoil in the real estate market is because of those high risk loans, ie. people who shouldn't buy bought and then were foreclosed on.

Personal debt is at an all time high, sure, because people like to buy things they can't afford, not because Bush exists.

As for the GDP and the stock market, if the rich were less taxed, they would invest more money and GDP/Stock market would go up. Middle and low income people would do better because of that investment.

What you want to do is raise taxes on the wealthy, which would discourage investment, grind the GDP to a halt, drop the stock market, etc.

Reply By: Jythier Posted: Thursday, August 16, 2007
The mortgage companies going down is the MORTGAGE Co.'s fault for giving out high risk loans. The turmoil in the real estate market is because of those high risk loans, ie. people who shouldn't buy bought and then were foreclosed on.

Personal debt is at an all time high, sure, because people like to buy things they can't afford, not because Bush exists.

As for the GDP and the stock market, if the rich were less taxed, they would invest more money and GDP/Stock market would go up. Middle and low income people would do better because of that investment.

What you want to do is raise taxes on the wealthy, which would discourage investment, grind the GDP to a halt, drop the stock market, etc.


PURE BS!

Could be, could be. But I'm enthused by your complete lack of response to the actual statements I made.

It's hilarious how you complain about the stock market now, but I didn't see you make any posts when it reached record levels a short time ago.  Gloom and doom liberal who wants you to think the next depression is one it's way......because of Bush!




Notice how he doesn't address this. 

“Personal debt is at an all time high, sure, because people like to buy things they can't afford, not because Bush exists.”


Real Income is not increasing and in fact after inflation income is down for many families. That drives then to use their credit cards more. The so called GOOD times in NOT flowing to the middle and lower income families just the wealthy.

“As for the GDP and the stock market, if the rich were less taxed, they would invest more money and GDP/Stock market would go up. Middle and low income people would do better because of that investment.”

No more money to the wealthy does not result in higher demand. Increased income to the middle and low income families is far more effective to stimulate demand. Increased investment of the wealthy in the stock market does NOTHING for the vast majority of people. 90% of the securities are held by the wealthiest 10%.

“What you want to do is raise taxes on the wealthy, which would discourage investment, grind the GDP to a halt, drop the stock market, etc.”


Increasing taxes on the wealthy would have little impact on demand and would help balance the budget. We are spending $450 Billion dollars every year on interest! That money is needed for things like Social Security and Medicare payments.

inflation during most of bush has been lower than during most of clinton. here is the table.


WWW Link


once again the clown didn't bother looking things up

because of the jobs created.

Reply By: danielost



“Inflation during most of bush has been lower than during most of Clinton. Here is the table.”


The problem with inflation during Bush years is the items that increased. The cost of living index contains some items that do not impact a lot of people. The items that increased during the past 7 years like Health, food, Insurance and energy impact everyone and have been very hard on low and middle income workers. That does not show in the overall Cost of Living index.


“Middle and low income people would do better because of that investment”


Middle income and especially low income wage increases did not keep pace with the cost increases especially food, health, insurance and energy. The investment did not create higher paying jobs for people in this country. The new jobs that are being created pay about 30% less then the jobs that were lost and have fewer benefits. Thus the middle and low income families did not do well and did not get the benefit from the Bush tax cuts which went mostly to the upper income Americans! It is not the wealthy that are having problems meeting their mortgage payments. Foreclosures are up by an alarming rate with a lot more to come.

this stuff has been increasing in price for a lot more than 7 years.

health care is not going up because of anything that any president at least usa president has done.

if hillary had gotten her health care program going then it would have sky rocketed.

this country creates and losses about 50,000 jobs a day. this also has nothing to do with the president. except by lowering taxes, and allowing investments a few more jobs are created.

i have decided i will not call this person a clown anymore it is an insult to clowns.

Reply By: danielost Posted: Friday, August 17, 2007
once again the clown didn't bother looking things up




i have decided i will not call this person a clown anymore it is an insult to clowns.


YOU are the Idiot. Everything I posted is true and the fact is that only the wealthy are doing better under the economic policies of the Bush administration. Now even the investments of the wealthy are in trouble and we are still running a $400 Billion dollar annual deficit.

"That drives people to use their credit cards more."

I just said that! People buy things they can't afford.

your the only one running scaried. the exports have said not to worry.

I will try one more time to explain the economic reality we are faced with today. The past 7 Years have provided unprecedented economic opportunity for the haves in this country. We have followed a policy that enabled big companies to expand trade and operations that used low cost labor in other countries to feed their increased profits. That drove up the stock market which GWB pointed to as PROOF we had a good economic situation in America. The truth is since 90% of the securities traded on that increasing stock market are owned by the top 10%; the benefit to the other 90% of Americans was a marriage.

The middle income workers that did not loose their jobs received very small wage increases while essential elements such as Food, Clothing, health Care, Insurance Premiums and Energy costs outstripped their small wage increases. That forced these people to increase their personal debt or to secure home equity loans or refinance their homes that had been increasing in value in the face of speculation and a mortgage industry that designed mortgages that in the long run were beyond what many average people could pay. Many middle income people lsot their joibs to foireiogn compaction and took jobs that paid substantially less with more of the benefits costs to be paid by the worker. That caused mortgage defaults to increase and also forced people to use more credit card debt and seek mortgage refinancing. In the long run that made the economic situation of millions of American workers that were forced to take jobs that paid less a major problem and is a prime cause of the current Mortgage problem.

The low income workers had almost NO wage growth and they too were faces d with increased Food, Clothing and energy costs. Their situation during the past 7 years is even more of a problem then for the middle income workers. All this has put pressure on spending and the increases in spending were being financed with ever increasing personal debt and the money from refinancing real Estaste.

Now many people find themselves unable to pay the debt and are running out of credit card funding. Mortgage defaults are up 100 % and the largest Mortgage Company that holds 20% of ALL home Mortgages is in real financial trouble. Many smaller companies have already failed. That has that has precipitated a 10% drop in the stock market in less then a month and the Fed is scrambling to forestall what could trigger a full blown recession.

For the first time the wealthy are experiencing the impact since it is their holdings that have dropped 10% in the past month. When the Middle and low income workers can no longer spend, the profits that are the source of the wealth for the Bushies dries up. When you see Wal-Mart unable to keep their sales even with just inflation, you can see the real depth of the problem. The irony is that if we see major moorage company failures the people that Bush has enabled to amass huge wealth will most likely be the people that buy the holdings of the bankrupt Mortgage companies for pennies on the dollar and ultimately made huge profits from the misery of Millions of average people that can not afford their mortgage payments. For anyone that uses the excuse that this is Chicken Little, Look at the WORLD markets. Look at the Federal Reserve scrambling. It is REAL and it is MAJOR. This is taking place at a time when we as a nation are operating every year with a $400 Billion Dollar annual deficit and %9 Trillion in Debt overall. At a time when we are facing the added cost of protecting our country. Financing the Iraq War. Facing the impending problems of how to pay Social Security and Medicare. This is NOTHGING? In a PIGS EYE. We have FAILURE in the economic policies of Bush and the GOP controlled Congress.