Most of you guys don't understand the seriousness of this past financial/economic crisis. If President Bush and President Obama had not taken the actions they did to bail out financial institutions and stimulate the economy, (eg deficit spend), not only would much wealth have been lost in stocks and bonds held by public and private investment companies on behalf of both individuals and government, all the cash in banks accounts across the country could have been wiped out as bank fell like rows of dominoes coming down in a chain reaction. FDIC insurance would have been complete overwhelmed and quickly exhausted. Unemployment would be much worse as the Auto industry went out of business, etc.
People don't seem to realize that we are all in this together, not only in the USA, but everybody world wide is connected and effected; because, the economy is global. Regards, LelandJ On 03/27/2010 10:05 AM, Nicholas Geti wrote: > You certainly have your head buried in sand. You have an extreme case of > selective view of the news. It is not even worth countering your arguements. > > > ----- Original Message ----- > From: "Leland F. Jackson, CPA"<[email protected]> > To: "ProFox Email List"<[email protected]> > Sent: Saturday, March 27, 2010 12:51 PM > Subject: Re: [OT] Once you go Red... > > > >> On 03/26/2010 08:25 PM, Publius Maximus wrote: >> >>> CBO report: Debt will rise to 90% of GDP: >>> >>> http://bit.ly/ceUMSV >>> >>> then >>> >>> Supply fears start to hit Treasuries >>> >>> http://bit.ly/beCex4 >>> >>> - - - >>> >>> I was going to say, jokingly, that Obama proves the proverb which says >>> "Once you go black, you don't go back," but actually, in his case that >>> is only half true. The whole truth about him is that "Once you go Red, >>> you're economy will be dead." >>> >>> Seriously, how do Obama's deficit spending policies, which in the >>> best-case scenario make Bush's absolute worst budget look like a case >>> study in fiscal Scroogery, make any sense whatsoever, outside of a >>> determined goal of destroying the US economic and political system? >>> >>> >> Contrary to your claim that President Obama is destroying the USA >> economy, he should be praised for taking action needed to avoid a great >> depression, like the one that occurred after the crash of the 1930s. As >> shaky as the economy is in the USA, things are worse in eastern Europe, >> including Britain, and countries that have standardized on the euro >> can't deficit spend of reduce their debt by inflating their currency, >> (eg Greece which is bankrupt), so all and all, President Obama did an >> outstanding job of bringing the USA economy back towards normal from a >> world wide economic crisis. Only Asian countries, couturiers rich in >> natural resources like oil and gas, and China seem to have avoided the >> financial meltdown and ensuring worst economic challenges since the >> great depression. >> >> >>> And I won't even mention the vast expansion of IRS power under >>> ObamaCare to rummage through private bank accounts, or force private >>> citizens under penalty of prison to purchase a product they may/may >>> not want or need. For that matter, I won't even mention that he >>> continues with the same rendition, Patriot Act, and Guantanamo >>> policies that had certain folks of sensitive disposition in this >>> august forum in full-throated conspiratorial dictatorship alert, not >>> too many moons ago. >>> >>> >> Your showing your paranoid side, Bob. You really should see someone >> about meds. LOL >> >> >>> How in the world can anyone, on any basis, justify what Obama is doing? >>> >>> >> - Publius >> >>> >> >> [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
