It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by xpert11
I am open to exploring the idea of having primary's in NZ why don't you start a thread on this matter in this forum or on AP or U2U if you my thoughts on this matter ?
" . . in the US is that the President is a separate branch of government from Congress. Although Primary's are held for governors and candidates who want to run for Congress. To me Primary's would just extend the political process which means the amount of tax payer dollars and relevant laws are in effect is extended. Also you see more divisions amongst the voting population.
" . . the amount of tax payer dollars . . are in effect . . extended . . "
Originally posted by Justin Oldham
How relevant is that to a Presidential race?
Jeremiah Wright, [Obama's now retired] pastor, is known to use Pentacostal rhetoric to communicate his harsh views. How relevant is that to a Presidential race?
It's being reported today that the big Wall Street banking giant, Bear-Sterns, has rushed to Uncle Sam for an emergency bailout in the hopes of preventing a total corporate meltdown.
In my work, I predicted that the coming U.S. economic downturn would begin in 2008. I said it would start with the collapse of the major banks, and spiral downward from there. That was in 2004. Today is 2008, and here were are.
The Bush administration's foolhardy policies have resulted in an failing economy that is deteriorating faster than any could have imagined. Not even me. In recent weeks the Central Bank has pumped two hundred billion dollars into "the system" to try and head off disasters like Bear-Sterns. Today, we see that effort has been an absolute failure.
I made my case for all of this here on ATS in early 2006. If you backtrack, you'll also see that I mention that this economic downturn would be the ruin of Republicans . . Democrats will sweep Congress and carry the White House ... because ... people vote with their wallets. Those billfolds will be significantly smaller in November ... if we can afford the gas. I'm not in the least bit happy . . I think America can't do with another dose of big government. Even so, I think that's what we're going to get.
I've had a busy weekend. The price of oil is now greater $110 per barrel. Bear-Sterns, a major financial institution, has gone to the Federal government for an emergency bailout. Job creation is stagnant, and the price of everything is going up. President Bush continues to deny that we’re in a recession.
Senator McCain, the presumptive Republican Presidential nominee, is over in Iraq just now acting “Presidential” . . Trouble is, we’re going to be hurting from the bad economy when we vote in November. When we go to the polls, gas will be somewhere in the range of $4 per gallon. Oil will be selling at $125 per barrel, or more. Unemployment will be up, and the dollar will be down. A lot of bankers and mortgage lenders will be out of a job, and a lot more people will be homeless. I just don’t see how a Republican wins in that climate. Shucks, man. I’m still amazed that I saw this coming four years out.
So, what do we do? Vote, and pay off your debts. Cut up your credit cards when you’ve paid them off. Get ready for ten years of hard times. It’ll take four years to dry up the all the bad credit. It’ll take four more years for the economy to stabilize. Those of you who remember the see-saw of the 1980’s will know what I mean. Job growth won’t happened again until closer to the end of that miserable decade. Your spending power won’t improve until the middle of that “cycle.” In general, I think we have ten years of ’heck’ in front of us.
Bush43's economic policy has been a longshot gamble from the start. Since day one, he has sought to enrich his oil company cronies, while at the same time tinkering with the money supply by fudging with the interest rates. The rationale was simple. Grow the economy faster than the price of oil could go up, and everybody would win.
Artificially lowering interest rates set off a chain of unforeseen events, which culminated in the sub prime scandal and the subsequent housing crisis. Now, there is more bad debt than there are profits. the entire slide has taken less than a full decade. It'll take ten years or more to come back from this.
The question is has Obama passed the test?