"John" wrote in message
...

"John H." wrote in message
...


Oh yes the conservatives do such a better job with the economy and the
national Debt....

Greenspan: Dark Days Ahead for the Global Economy

Those hoping for better news about the state of the U.S. economy-not to
mention the bigger picture-aren't going to hear it from former Fed chair
Alan Greenspan anytime soon, judging by his ominous forecast released
Monday.
"The current financial crisis in the US is likely to be judged in
retrospect
as the most wrenching since the end of the Second World War," Greenspan
said
in a Financial Times commentary.

"It will end eventually when home prices stabilise and with them the value
of equity in homes supporting troubled mortgage securities," he said,
referring to the meltdown in the US subprime home loan market and
subsequent
massive losses for the banks holding the debt instruments.

"The crisis will leave many casualties," he said, his remarks coming after
Bear Stearns, the fifth largest US investment house collapsed Friday and
was
taken over by JPMorgan Chase for a fraction of its value of only a week
ago.

Read more

http://www.france24.com/en/20080317-...&navi=ECONOMIE

Our printing presses for money are working overtime and there is nothing
to
back up our dollar. We are going to see the closest thing to a depression
since the 30's. Inflation will grind us to pulp.

Bush, the progenitor of this abomination will skate free and leave
devastation in his wake. There is no reckoning. No accountability.
Pity.




Pity you are clueless. Maybe you should have paid attention in Civics
class. The problem with Bush is no veto pen. But it is Congress who passes
ALL spending bills. And they went to court years ago to get a ruling that
the money HAS TO BE SPENT if they pass a spending bill. Plus they have
"Base Line Budgeting" with a built in 13% spending increase yearly. And it
is both sides of the aisle that have been munching at the feed trough. Been
a Dem controlled Congress for the last year. Spending decreased? A pox on
both parties. How the hell we can be electing anybody from Congress as
POTUS is ludicrous.