Originally posted by ford2007shelby
I personally am tired of all the hatred towards us Yanks. just because our current gov't administration sucks and is throwing us to the sharks doesn't mean we are all bad here. My wife and i had to work our butts off to purchase our first house, there were no mindless idiots throwing loans and credit cards at us at that time. Now because the feds were so frivolous with mortgages and these people are now in trouble they are going to get buydowns. (not sure if thats the right word but I think you get the gist.) So what they are telling these people is go ahead get anything you want and don't worry about paying for it cuz someone else will.
The dollar is in such a sad state because Bush's cabinet has no connection to the everyday american, to busy making all of his yale skull and bones buddies and his campaign supporters rich beyond their wildest dreams. Everytime they lower the interest rate the dollar hits a new low against other currencies, If people don't have any spare money to go blow on useless crap, how does our gov't think this will help? Bush is always patting himself on the back, does he really think he's doing a good job?
Originally posted by Blaine91555If I were totally honest here, I think Paul would have been the real Carter Clone....
Originally posted by eagledriver
When did this start? Several years ago after 911. The new world order saw their chance and since they run all the big institutions anyway, they realized this was the perfect time.
Originally posted by tide88
Yeah Bush caused the housing crisis and told all the banks to gamble with subprime loans. You all need to get over the blame Bush for everything mentality. What president has a connection with the everyday american. They are all elitists. That is the way government is. I am not implying that Bush is a great president but to think he is fully responsible for this economic situation is rediculous.
While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.
Here’s what happened. Since the Bush regime came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime.’
But there was this annoying party-pooper. The Attorney General of New York, Eliot Spitzer, who sued these guys to a fare-thee-well. Or tried to.
Instead of regulating the banks that had run amok, Bush’s regulators went on the warpath against Spitzer and states attempting to stop predatory practices. Making an unprecedented use of the legal power of “federal pre-emption,” Bush-bots ordered the states to NOT enforce their consumer protection laws.
Not all crimes lead to federal bust or even public exposure. It’s up to something called “prosecutorial discretion.”
Funny thing, this ‘discretion.’ For example, Senator David Vitter, Republican of Louisiana, paid Washington DC prostitutes to put him in diapers (ewww!), yet the Senator was not exposed by the US prosecutors busting the pimp-ring that pampered him.
Naming and shaming and ruining Spitzer – rarely done in these cases - was made at the ‘discretion’ of Bush’s Justice Department.
Or maybe we should say, ‘indiscretion.’
It was the night of February 13 when Spitzer made the bone-headed choice to order take-out in his Washington Hotel room. He had just finished signing these words for the Washington Post about predatory loans:
“Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.”
Bush, Spitzer said right in the headline, was the “Predator Lenders’ Partner in Crime.” The President, said Spitzer, was a fugitive from justice. And Spitzer was in Washington to launch a campaign to take on the Bush regime and the biggest financial powers on the planet.
Spitzer wrote, “When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners the Bush administration will not be judged favorably.”
Originally posted by Realtruth
In a nut shell if the US dollar collapses, then the rest of the world economy is going to crash as well.
If you think I am joking, just look at all of the countries that hold US debt.
Most of this debt was by design from the cartel at the top.
Originally posted by thesaints2012
yes but if the US dollar loses its value, all the importers that bring in food have to pay more in dollars for those products from overseas and to make back their extra costs sell it for more at the till - directly affecting YOU.