Quote:
Originally Posted by deadbeater
With the Paris Hilton tax cut, Bush did more than enough already.
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July is the next time that a wave of sub-prime rates increase sharply. Therefore another wave of loan defaults is expected. Numbers suggest that 30% of Freddy Mac and Fannie Mae loans are in default. Numbers like $30billion defaults have been suggested.
When government 'fixes' an economy with free money and corporate welfare, then economic forces take revenge four and more years later. Welcome to an economy manipulated with massive government deficits, tax cuts to the wealthy, corporate welfare, and Enron style accounting. Coming soon is the part where economic forces take revenge.
Nothing new. This was predicted in Jul 2006 with the usual responses.
Which is your favorite paranoid fantasy? Today's problems were seen when? July 2006.
Read those posts. Notice what was absurd then is reality now. These economic problems were apparent years ago when others were instead hyping the George Jr economy and his myths. For example, you were warned what tax cuts without spending cuts do. Now we begin to pay for an economic boom based in money games rather than from product innovations.
So what do politicians do? Hype another myth about whiners. We got some major financial problems because Cheney said, "Reagan proved that deficits don't matter." Guess what.