On Fri, 10 Aug 2012 13:49:52 -0400, iBoaterer wrote:

Romney wants to go back to the GWB economics tactic of giving tax breaks
to the rich. Now, when Bush did that, it led to an economic crash heard
around the world. So, why would the same tactic garner different results
this time?

Insanity: doing the same thing over and over again and expecting
different results.

The founding of the country led to the great depression and this great
recession.

On 8/10/2012 1:49 PM, iBoaterer wrote:
Romney wants to go back to the GWB economics tactic of giving tax breaks
to the rich. Now, when Bush did that, it led to an economic crash heard
around the world. So, why would the same tactic garner different results
this time?

Insanity: doing the same thing over and over again and expecting
different results.


Yup. That's why this country needs a leadership change.

"iBoaterer" wrote in message
...

Romney wants to go back to the GWB economics tactic of giving tax
breaks
to the rich. Now, when Bush did that, it led to an economic crash
heard
around the world. So, why would the same tactic garner different
results
this time?

Insanity: doing the same thing over and over again and expecting
different results.

----------------------------------------------------

The Bush tax cuts did not cause an economic crash heard around the
world. In fact the economy was doing quite well up through 2007 and
early 2008 despite the spending on two wars, etc.

The crash was ignited by the housing boom and their inflated values
collapsing. The rest of the economy followed suit. People were
caught with their pants down with declining values, deferred payment
interest only loans, balloon loans and all kinds of fuzzy logic
financing. The latest get-rich-quick scheme for many was
house-flipping. It had to end.

There were some early warnings to those who happened to be paying
attention for one reason or another. I am no economist by any means
but when we sold the houses we had in Florida back in 2004, the annual
rate of appreciation on housing values was running at 28% in the area
we were in.
Anybody with a lick of common sense knew that increasing values like
that could never last. We sold just before the market began to tank
down there. The house we sold for $10k short of a million is
currently for sale for $450k OBO.

Think what you will of GWB, but the overinflated housing market with
artificially high values was going to burst regardless of who was in
the Whitehouse.

On Fri, 10 Aug 2012 15:36:26 -0400, "Eisboch" wrote:



"iBoaterer" wrote in message
...

Romney wants to go back to the GWB economics tactic of giving tax
breaks
to the rich. Now, when Bush did that, it led to an economic crash
heard
around the world. So, why would the same tactic garner different
results
this time?

Insanity: doing the same thing over and over again and expecting
different results.

----------------------------------------------------

The Bush tax cuts did not cause an economic crash heard around the
world. In fact the economy was doing quite well up through 2007 and
early 2008 despite the spending on two wars, etc.

The crash was ignited by the housing boom and their inflated values
collapsing. The rest of the economy followed suit. People were
caught with their pants down with declining values, deferred payment
interest only loans, balloon loans and all kinds of fuzzy logic
financing. The latest get-rich-quick scheme for many was
house-flipping. It had to end.

There were a lot of "leverage" guys in that mix, who think just like
Romney. That is, "how do I make a buck with nothing invested and
practically no risk."

The answer, OPM and raping the little guy.

In article ,
says...

On Fri, 10 Aug 2012 13:49:52 -0400, iBoaterer wrote:

Romney wants to go back to the GWB economics tactic of giving tax breaks
to the rich. Now, when Bush did that, it led to an economic crash heard
around the world. So, why would the same tactic garner different results
this time?

Insanity: doing the same thing over and over again and expecting
different results.

Tax cuts are a drop in the bucket. The crash heard around the world
was due to (1) almost all of the money in the American economy being
captured by the top 7% or so of the various most wealth people in the
US, the Federal Mint trying to print our way out of the aforementioned
situation, and the absolute lack of regulation of the money sector.

"Captured by the top 7%", what does that mean?

It is the Federal Reserve Bank printing money, not the US Mint.