On Mon, 17 Mar 2008 12:39:22 -0400, "John" wrote:


"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.



Well, perhaps the damn Democrats shouldn't have pushed so hard for getting
everyone in a home.

Maybe they'll learn. We'll see.

Your comment, "We are going to see the closest thing to a depression
since the 30's. Inflation will grind us to pulp," is typical of the
chicken little Democrats wanting the economy to look much worse than it is.

Note Greenspans words on the ending of the current situation. Then stop
whining.
--
John H