What is going on in Europe?

[VT-Chicklit]

Unfortunately there is no cure for Bush Derangement Syndrome. You can only hope it runs its course and the afflicted regain their senses before we all go over the cliff

 

[Big Daddy]

Don't really think that's an issue anymore. Right now the nation is suffering from Bush economic syndrome. The bad guy is gone, all that remains is his path of destruction. The thing that needs to be done is for all the naysayers to get on board and try to help the country as a whole instead of doing the me game. So far the right has been purely obstructionist. Don't try to say the left didn't want to help Bush solve the problem. Bush didn't lift a finger to try to solve the problem. He spent his last 3 months doing nothing. He did make sure his cronies got back all the money they lost via the tax payers pocket. He skipped town just in time. All the righties talk about Obama and his socialist agenda. He's just trying to keep the country out of a depression. Giving the rich people money isn't going to solve the problem. Fortunately he has the determination to do what's right. If you don't like him that's fine. You're in the minority.

 

[Beekissed]

I do believe that every president has inherited a mess.

Not like this one.

I don't even follow politics and I know better than that! Nearly every president in our country's history has "inherited" what they believed to be "someone else's" mess! And each mess was no bigger or messier than another, they were all relative to the time period in which they occured.

And, no, dac is not in the minority here. There are many of us on this forum and out in the world who do not worship at the Obama alter. Nor any man's, for that matter.

Its become real popular, down through the ages, for the sheeple to blame anyone but ourselves for the mess we are in. Bush is just a whipping boy in this scenario. Bush is not the devil, nor is Obama the savior of this particular picture. They are both merely men and they, ultimately, have very little control over what happens in this country.

Money is the prime motivator behind all the scenes and those people who have it sway those who want it. Always has been that way in this world since the fall of man, and it will be this way until the end of time.

So, arguing over who did what, or who will do what, is moot really. It always is and doesn't solve anything any more than the present administration will solve the country's existing problems.

 

[Big Daddy]

I do believe that every president has inherited a mess.

Not like this one.

I don't even follow politics and I know better than that! Nearly every president in our country's history has "inherited" what they believed to be "someone else's" mess! And each mess was no bigger or messier than another, they were all relative to the time period in which they occured.

And, no, dac is not in the minority here. There are many of us on this forum and out in the world who do not worship at the Obama alter. Nor any man's, for that matter.

Its become real popular, down through the ages, for the sheeple to blame anyone but ourselves for the mess we are in. Bush is just a whipping boy in this scenario. Bush is not the devil, nor is Obama the savior of this particular picture. They are both merely men and they, ultimately, have very little control over what happens in this country.

Money is the prime motivator behind all the scenes and those people who have it sway those who want it. Always has been that way in this world since the fall of man, and it will be this way until the end of time.

So, arguing over who did what, or who will do what, is moot really. It always is and doesn't solve anything any more than the present administration will solve the country's existing problems.

Wasn't talking to Dac. Name a president that inherited a 1.7 trillion deficit and a country on the edge of collapse. Last one was FDR.
Obama is not a god and I have certainly never referred to him as such. Nor have I referred to Bush as a devil. Bush did have control of his congress until 2006 and chose not to do anything. Obama does have control and is choosing to try to do something. I was referring to the BDS comment that always seems to come up when people don't want to admit that the man they elected was not up to the job at hand. Sorry but Obama haters are in the minority right now.

 

[On Our own]

I keep being surprised by the people who do hate Obama.

There is a site I lurk on that is full of people who see themselves as constitution protectors. They hated Bush with a venom that bordered on insane. So, I was shocked to discover that they hated Obama just as much.

Some people will not be pleased no matter what. Some people want to hate and find fault no matter what.

I spent the last eight years protesting the loss of my constitutional rights, and now the incredible level of vitriol being thrown at the new administration before they have a chance. We were screwed at least three years ago. There is not much he can do now and he'll be forever blamed for what comes next no matter what he does.

BTW - a good chunk of this is at CLinton's doorstep.... but I digress.

 

[Big Daddy]

I keep being surprised by the people who do hate Obama.

There is a site I lurk on that is full of people who see themselves as constitution protectors. They hated Bush with a venom that bordered on insane. So, I was shocked to discover that they hated Obama just as much.

Some people will not be pleased no matter what. Some people want to hate and find fault no matter what.

I spent the last eight years protesting the loss of my constitutional rights, and now the incredible level of vitriol being thrown at the new administration before they have a chance. We were screwed at least three years ago. There is not much he can do now and he'll be forever blamed for what comes next no matter what he does.

BTW - a good chunk of this is at CLinton's doorstep.... but I digress.

If you look at a graph of home price escalation it rises sharply about mid 1999 and keeps going up, That is about the time that Clinton put pressure on Fannie an Freddie to buy more sub prime loans which encouraged the banks to give more sub prime loans. l the sudden everyone can buy a new home and the old supply and demand equation kicks in. That was just the start though.

I wonder if Clinton would have done that if he could have foreseen the abuses that would take place by those higher up the food chain. Sometimes good intentions just don't work out,

 

[me&thegals]

I keep being surprised by the people who do hate Obama.

There is a site I lurk on that is full of people who see themselves as constitution protectors. They hated Bush with a venom that bordered on insane. So, I was shocked to discover that they hated Obama just as much.

Some people will not be pleased no matter what. Some people want to hate and find fault no matter what.

I spent the last eight years protesting the loss of my constitutional rights, and now the incredible level of vitriol being thrown at the new administration before they have a chance. We were screwed at least three years ago. There is not much he can do now and he'll be forever blamed for what comes next no matter what he does.

BTW - a good chunk of this is at CLinton's doorstep.... but I digress.

Thank you. I, too, have been shocked by the rage. Holy cow--give the new administration a chance, a little time. At least Bush was given that, whether it was his response to 9-11, the economy or whatever he was facing. I don't care what "side" you're on. Tone down the rhetoric and give it a little time, please.

 

[On Our own]

OK Let's lay this as Clinton's fault, too, he is the one who really started the ball rolling on deregulation, however, let's get clear about this again. This is not a mortgage crisis. It is a credit default swap crisis.

How big did this market become? Here's business correspondent Bob Moon and host Kai Ryssdal on American Public Media's Marketplace from back in the spring.
"BOB MOON: OK, I'm about to unload some numbers on you here, so I'll speak slowly so you can follow this.

The value of the entire U.S. Treasuries market: $4.5 trillion.

The value of the entire mortgage market: $7 trillion.

The size of the U.S. stock market: $22 trillion.

OK, you ready?

The size of the credit default swap market last year: $45 trillion.

KAI RYSSDAL: That's a lot of money, Bob."

As in three times the whole US gross domestic product, Bob. And the truth is that Moon probably underestimated. The unregulated and poorly reported credit default swaps may have actually passed $70 trillion last year, or about $5 trillion more than the GDP of the entire world.(Devilstower at DailyKOS)

The underlying "product" at the bottom of the swap was practically irrelevant which is why they got so wildly out of control. As long as people keep insisting this is about mortgages they will continue to be unable to grasp the real problem.

If we had to we could pay every single mortgage owed and it would not do the damage this is doing. These CDSs were rank bets with no underlying value in and of themselves......

 

[Homesteadmom]

There are fear mongerers everywhere. It's too bad there are so many opinions out there. It would be nice if there was one answer. It's like Obama is a contestant on lets make a deal. Which door does he pick? Let's hope he picks the right one.

Too bad he inherited such a mess. Then the only issues would be health care and education.

Since inaguration day the market as of Fri had dropped 20%, since election day in Nov till inaguration day it was like 8-10%. So since Nov's election our market has dropped almost 30%. Can't say he inheirited that mess. It was all a direct effect of him being elected & sworn in.

And I would like to state for the record I am not an Obama hater, I am a socialist hater. And all he has done since being elected is say fi we do not do something we are going to be in serious trouble. He has used fear to try & keep us under his thumb. BTW: his approval rating when sworn in was 88% it is now at 66%. Speaks volumes to me that I am not alone in this mess.

 

[On Our own]

That ball was rolling already the drop could not and can not be laid solely at his door step. People may disagree with what he has done but the drops are unrelated largely to what he has done, they are related to the continuing uncovering of the problems.

A ball this big cannot be turned that easily, this is a global crisis, not a US one.