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Remember all that talk about letting the Repubs win so we don't get blamed for the economic meltdown

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Stinky The Clown Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:52 PM
Original message
Remember all that talk about letting the Repubs win so we don't get blamed for the economic meltdown
It looks to my untrained eye that we're at 'meltdown' already.

We have inflation

We have stagnation

We have declining equity values

We have fixed incomes falling further and further behind

We have a dollar that keeps going down to record levels and then goes down further

We have high precious metals prices

We have a moron running the Fed

We have an out of control Military Industrial Complex

We make NOTHING in this country any more ...... except trouble.

I should think there is more than sufficient evidence that it was the Repubs who fucked up the economy. I can't see how any of it can be blamed on Democrats or Democratic policies. This turd in the national punch bowl is entirely the province of The Shitstain on the Shortz of History and his Rubber Stamp Congress ...... INCLUDING John W. McCain.

Say that again ..........

INCLUDING John W. McCain

Don't let anyone forget it ........

INCLUDING John W. McCain
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NMDemDist2 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:54 PM
Response to Original message
1. well if you call 'trouble'
lots of missiles, you got that right

IIRC we are still the largest manufacturer of weapons and armory of any one in the world

:cry:
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:55 PM
Response to Original message
2. give them time and they will surely find a way
remember this is the party that would have won Nam if we libbies did not interfere


If anything they have a knack for rewriting history
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gaspee Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:56 PM
Response to Original message
3. Oh, we're gonna get blamed...
But only the drooling 20% will believe it. Hell, these same people try to say the economy and prosperity under Clinton was leftover from the Raygun years and the shitstorm under dimsum was from the Clinton years.

Let's watch them spin and spin trying to blame the coming meltdown on the new D prez, whomever it may be. That'll be fun.

And the 20% backwash will for it hook, line and sinker.

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Speck Tater Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:56 PM
Response to Original message
4. Most voters are in denial about the economy
They won't believe it's bad until it hits them personally. That may not be until after election day.
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lligrd Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 03:57 PM
Response to Original message
5. Yep, By The Time January Gets Here Everyone Will Be
cursing * and his administration.
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Captain Angry Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 04:31 PM
Response to Original message
6. There's a reason the Dems will be blamed if they win in November.

None of this will be fixed quickly. Any policy implemented to shore up the financial state of the Union will be painful to somebody.

On your points:

We have inflation due to speculation, and poor investment.
- grain prices rise due to the foolish run to ethanol. Farmers see the huge increase in demand (and subsidies) and stop planting wheat.
- Wheat becomes more expensive, which makes feeding cattle/dairy cows more expensive.
- Prices passed on to buyers.

We have stagnation.
- We aren't competitive on the world stage in manufacturing due to our pollution controls, safety requirements and private healthcare.
- We still export significant amounts of brainpower (in the form of financial and technology services)

We have declining equity values.
- Housing prices are reverting to the mean as the money that pumped that bubble up flees to gold, wheat and oil contracts.

We have fixed incomes falling further and further behind.
- This is a function of the increased input prices into food and energy, which have been artificially inflated.

We have a dollar that keeps going down to record levels and then goes down further.
- Supply and demand. For our dollar to have value, it must be "demanded." As our exports have fallen far behind our imports, we have to sell our dollars to buy foreign currency to buy those imports.
- We need to buy less stuff that we don't need with credit we don't really have.

We have high precious metals prices.
- As housing began to fail, look where the money went. What sector of the market has performed the best over the last few years? Commodities. When a new source of investment returns is found, commodity prices will fall as the money runs to the higher returns.

The Fed.
- This is a lot more complicated than I'm going to get into right now. They have to turn the world's biggest economy with basically two buttons. The rest of the moves need to be made by Congress and the White House. And neither organization is motivated to change anything.

The Military Industrial Congressional Complex (As Eisenhower's original notes called it) is an ugly situation. With all of the money in politics and as widespread as they are, that industry isn't going to shrink much.


We have some serious issues on a country-wide level. We're certainly not going to make the painful choices with the current administration. So, any policy change or regulation that happens, will be on a Democratic administration if they win in November. And that's why they'll be blamed, even though many years of bad decisions and selfish choices set the stage.
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 04:37 PM
Response to Original message
7. Don't forget the "Systemic Margin Call." Shit to hit fan this coming week
Banks Face "Systemic Margin Call," $325 Billion Hit: JPM

Source: Reuters

NEW YORK (Reuters) - Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co (JPM.N: Quote, Profile, Research), said in a report late on Friday.

JPMorgan, which sent a default notice to Thornburg Mortgage Inc. (TMA.N: Quote, Profile, Research) after the lender missed a $28 million margin call, said more default notices and margin calls were likely. The Carlyle Group's mortgage fund also failed to meet $37 million in margin calls this week.

"A systemic credit crunch is underway, driven primarily by bank writedowns for subprime mortgages," according to the report co-authored by analyst Christopher Flanagan. "We would characterize this situation as a systemic margin call."

The credit crisis that began about a year ago will likely intensify after Friday's weak February U.S. employment report "that most definitely signals recession," JPMorgan said.

--
The JPMorgan report included a revised bleaker forecast for subprime-related home prices. The bank now sees prices falling 30 percent, from its prior 25 percent forecast. Those prices have declined 14 percent since mid-2006, JPMorgan said.



Read more: http://www.reuters.com/article/bondsNews/idUSN083264512
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hifalutin Donating Member (370 posts) Send PM | Profile | Ignore Sat Mar-08-08 07:44 PM
Response to Original message
8. We won the House and the Senate
of course we will get the blame, it happened on our watch doncha know.

The economy was a boomin' before we took over.

I can just hear the spin.......

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