10-08-2008, 10:54 PM
[quote wiperhunter2]
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year
high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record
high--14,000 +
5) American's were buying new
cars,taking cruises,vacations overseas, living large!...
But American's wanted 'CHANGE'! So, in 2006 they voted
in a Democratic Congress and yes--we got 'CHANGE' all right. In the PAST
YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon &
climbing!; [/quote]
Actually now $3.50/gallon and dropping. [angelic]
[quote wiperhunter2]
3) Unemployment is up to 5.5% (a 10%
increase);
4) Americans have seen their home equity
drop by $12 TRILLION
DOLLARS and prices still dropping;
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another
low~ ~
$2.5 TRILLION DOLLARS HAS EVAPORATED
FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS! [/quote]
All the problems with the banks is not Congress' fault either. Some fault is due the greedy citizens who mortgaged more than they could afford and went into too much debt so they could have instant gratification with a big, nice house. But even more responsible are all the banks and mortgage brokers who, from the beginning, had no intention of holding onto the mortgages of their 'victims', and so allowed them to get, and misled them into believing they could afford, loans that were too much for them to afford in the long term. Since they knew they'd be selling the loan in a year (or in the case of my first mortgage, within 30 days), they didn't care if you couldn't meet your obligations.
Of course big investment banks also have some blame, investing too much in these very risky mortgage backed securities because the returns on them were so high at the time. Everyone stuck their heads in the sand and ignored the risks until it was too late, and now we're all affected.
All that being said, if you want to talk about a HUGE waste of taxpayer $$$, try the greater than $1 Trillion price tag on the war in Iraq! Now that is a 'bailout' we didn't need to fund, and was a mistake from the second we set foot in there. I voted for Kerry last election, and not because I thought he'd be any good, but because it was a vote against Bush - and that before his popularity dove down to like a 30% approval rate.
In this election, now, its just as bad. McCain seems bent on continuing Bush's foreign policy mistakes. Obama wants to ban handguns.
Might be time to vote for some obscure 3rd party. Hey I might even write in Mickey Mouse at this point. Couldn't be much worse than what we've got for Pres. for the last 15 1/2 years. [pirate][:/]
[signature]
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year
high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
4) the DOW JONES hit a record
high--14,000 +
5) American's were buying new
cars,taking cruises,vacations overseas, living large!...
But American's wanted 'CHANGE'! So, in 2006 they voted
in a Democratic Congress and yes--we got 'CHANGE' all right. In the PAST
YEAR:
1) Consumer confidence has plummeted ;
2) Gasoline is now over $4 a gallon &
climbing!; [/quote]
Actually now $3.50/gallon and dropping. [angelic]
[quote wiperhunter2]
3) Unemployment is up to 5.5% (a 10%
increase);
4) Americans have seen their home equity
drop by $12 TRILLION
DOLLARS and prices still dropping;
5) 1% of American homes are in foreclosure.
6) as I write, THE DOW is probing another
low~ ~
$2.5 TRILLION DOLLARS HAS EVAPORATED
FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS! [/quote]
All the problems with the banks is not Congress' fault either. Some fault is due the greedy citizens who mortgaged more than they could afford and went into too much debt so they could have instant gratification with a big, nice house. But even more responsible are all the banks and mortgage brokers who, from the beginning, had no intention of holding onto the mortgages of their 'victims', and so allowed them to get, and misled them into believing they could afford, loans that were too much for them to afford in the long term. Since they knew they'd be selling the loan in a year (or in the case of my first mortgage, within 30 days), they didn't care if you couldn't meet your obligations.
Of course big investment banks also have some blame, investing too much in these very risky mortgage backed securities because the returns on them were so high at the time. Everyone stuck their heads in the sand and ignored the risks until it was too late, and now we're all affected.
All that being said, if you want to talk about a HUGE waste of taxpayer $$$, try the greater than $1 Trillion price tag on the war in Iraq! Now that is a 'bailout' we didn't need to fund, and was a mistake from the second we set foot in there. I voted for Kerry last election, and not because I thought he'd be any good, but because it was a vote against Bush - and that before his popularity dove down to like a 30% approval rate.
In this election, now, its just as bad. McCain seems bent on continuing Bush's foreign policy mistakes. Obama wants to ban handguns.
Might be time to vote for some obscure 3rd party. Hey I might even write in Mickey Mouse at this point. Couldn't be much worse than what we've got for Pres. for the last 15 1/2 years. [pirate][:/]
[signature]