On Fri, 23 Apr 2010 18:54:00 -0600, Canuck57
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?

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


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



Congress decided debt was good, and wanted cheap easy debt being they
are liberal debtors

well no. the GOP congress tightened bankruptcy rules for the middle
class and made it easier for the rich.

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?



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.


.. 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?


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.

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


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.

you're an economic crippse.


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