"Canuck57" wrote in message
...
On 10/04/2010 7:35 PM, nom=de=plume wrote:
wrote in message
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On Apr 10, 4:53 pm, wrote:
On Sat, 10 Apr 2010 19:27:04 -0400, wrote:
larry kudlow, a far right wing fundamentalist christian who writes for
'national review' admits the economy is booming and that we may be
looking at rapid growth:

http://article.nationalreview.com/43...m-is-coming/la...

Kudlow is Jewish who converted to Roman Catholism in 1996.

Hardly a far right wing fundamentalist Christian.

He's also been wrong more than he has been right.

If you voted for Obama and are unemployed, you deserve to be. SUCKER.


Because the recession, the worst downturn since the Great Depression
started
under Bush. Got it.

It started long before Bush Jr. took office actually. Lets skip the name
calling for a minute as it maters little at this point.

This depression is about debt. Too much debt and much of it going
delinquent. How did this occur? Why did it occur? Why are not
politicians (any party) dealing with the causes?

Now ever well engineered system has checks and balances. In 1980 when
interest rates skyrocketed it was a check saying too much debt and rose to
discourage more debt and an incentive to pay off debt. In time the rates
came right back down preventing run-away debt.

In 1980 the high interest rates also gave the banks the cash flow to
absorb the delinquent debt. High rates also kept real estate prices in
check to stabilize inflation. The high rates had a real purpose and
served well.

Trouble is congress being a big debtor didn't like so much money going to
debt services. Hell, any addicted to debt type knows they don't want high
rates. So congress tweeked the banking to allow more leverage, removing
much of the check that creates higher rates when too much debt is out.
This allowed rampant debt growth without regard to sanity.

Over time this created a huge valuation bubble in debt and real-estate.
But like any system not in proper check, it breaks. And in 2007 it broke
when ponzi debt became defunct. Since about September 2008 even DC can't
borrow money, relying on the US Fed to create almost 100% of its debt
needs.

And worse, the problem isn't fixed. It is still very out there.

--
The Liberal way, take no responsibility.


So, I guess that huge tax cut Bush pushed through doesn't count?

http://articles.moneycentral.msn.com...-trillion.aspx


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Nom=de=Plume