On 23/04/2010 7:15 PM, bpuharic wrote:
On Fri, 23 Apr 2010 18:54:00 -0600,
wrote:

On 23/04/2010 6:03 PM, bpuharic wrote:
On Fri, 23 Apr 2010 17:22:08 -0600,
wrote:

CDO's went from $1 billion in 96 to $62 TRILLION in 2006.

but the right wing ignores this 'cuz it involved rich people

How does it not involve rich people?

Basically USA is bankrupt and the only thing saving it is "US is too big
to fail...". Or is perceived that way. Anyone who looks at the numbers
in a rational way knows it will never be payed off and is a ticking time
bomb.

Don't worry, they will tax the hell out of your grandchildren for the
retirement obligations, like they do in UK and Canada.

and if the middle class today was homeless, how would that work out
for their kids?

Might be better to say fewer middle class exist today. If you are
homeless and used to have one, then you dropped out of middle class.

and, yes, this involves the rich. the right, however, just ignores
that and blames it all on the middle class

You just like blaming others. The rich didn't make the stupid take out
loans they could not afford. Debt losers can try to shirk their
responsibility but a welsher is a dime a dozen.

As China grows, the US will shrink economicially, that is in fact what
we are seeing. I figure it will be less than 10 years and the Chinese
economy will be larger, and could happen sooner.

for 1000 years china's econmy was the largest in the world. it would
be unusal if they didn't regain that position, with 1.5 Billion
people...5X what we have

Yep. But will make many Americans like you sour as your wealth diminishes.

Bankruptcy laws shoudl be tight. Letting liberals easily welsh and
create defunct uncontrolled debt is what got us into this depression.

?? first you say congress decided debt was good then when it's
pointed out this is wrong you say congress was good for tightenin
rules....

do you read what you write?

I have always said congress controls the money supply. President does
not operate in a vaccum here.

once again the right wing wants to blame the middle class

They voted for cheap easy liberal debt and sold America cheap

well, no they didn't. they didnt vote for CDO's of 62 TRILLION
dollars. they didnt vote for economic collapse.

once again teh right blames the middle class instead of wall street.

Yes they did. Their representatives tehy sent to DC did just that.
Most people pre-depression were middle class. Not sure what the current
numbers are, but bet the majority still is.

. True
conservatives have been screeming for decades to stop the madness. But
no one wants to believe Ron Paul circa 2003 when he said the big debt
depression is coming. Evey liberal pansi pandering idiot just wanted
cheap easy debt.

and in 2003 congress and the white house were controlled by the
conservative free market fanatics

how's that work out?

It started with the peanut farmer Carter and later Clinton that didn't
want a repeat of 1981 interest rates. Cheap easy debt.

Congress wanted cheap easy debt and created the debt bubble. Blame Bush
all you want, but debt is congress and it has been democriters ball game.

nope. the biggest spender in history: george bush and ronald reagan.
they increased the debt more than any other presidents in US history.

Nope, wrong. Only took Reagan one trillion in his terms. That didn't
last 8 months with Obama.

and reagan didnt face the prospect of economic collapse. you simply
are unaware of current economic issues.

Yes he did. But he stopped it from going into a depression by leaving
more money in working taxpayers wallets. It worked too as it addressed
the issue head on.

Look at Greece, might be small potatoes but when sovern debt goes bad
the economic system will unravel and eventually we be looking at 25%
mortgage rates, if you qualify. This is the time to get out of debt as
fast as you bloody can.

well no. sometimes debt is needed. ever hear of ww2?

you're an economic cripple

Tell that to my accountant. He say I should retire but I don't think I
am old enough.

Think since 2007 and the end of 2010 the US national debt will go from
$9 to 14.5 trillion. $5.5 trillion increase in just 3 years. And no
abatement in sight because Obama and democriters haven't done **** to
stop it.

which is lower, as a % of our GDP, than we faced in ww2.

Going to issue war bonds now? LOL. The current debt is ponzi debt, US
government lending to itself on the currency account. Inflationary.
Can't last, something is going to give.

Sorry, I am not buying. Slight problems with the rates, credit risk and
inflation futures. I leave such crappy investments for others.

Debt to GDP maters little, it is your ability to pay the debt. And
right now the USA has no functional ability to pay its debt as it is in
big time structural deficit. And to back the currency, interest rates
will be going up shortly, and DC is so screwed. Raise rates or eat
hyper stagflation. Not pretty either way. I hear Greece needs to pay
9% on May futures and going up.

you're an economic crippse.

I would put you in touch with my tax accountant but I don't think 1) you
could afford him and 2) you don't need one.

In 15 years 80% of the USA will have no health care beyond bone setting
and birth. Social Security will likely be so low or discontinued. Get
used to Debt America in this century.

you're an economic cripple

LMAO.

--
Socialism and statism are great as long as someone else pays for it.