Economy...What Economy?
It IS the Economy, Stupid!
By 4Freedom
More and more financial institutions are recycling recession talk. When the white-glove investment banking firm Goldman Sachs joins mega-retailer Merrill Lynch in agreeing that the country is already plunged into a recession, it is time to pay heed.
Iraq has played a part in leading the US into recession, as have the predatory home lending practices of banks and mortgage companies. But the real villain of the piece has been the irresponsible easy money policy begun under Alan Greenspan's reign at the Federal Reserve. Of course Greenspan was reflecting the wishes of his masters, but he was the master implementer of policy. Greenspan was a champion of the regressive Bush tax cuts of 2001. These have increased the federal deficit and are responsible for increasing the tax burden on the middle class. His easy monetary policy created the housing bubble that is now in a shambles. The stock market surged and receded, creating an investor loss of some $6 trillion.
And indeed Greenspan did say that the Iraq conflict was really about oil.
Once again we face Republican-created economic crisis that a Democratic administration will have to clean up. We are mired in the Iraq conflict, which is bankrupting America morally and financially. The inequitable tax burden on the middle class has strained family resources around our country. So, dammit, it IS the economy, and we are all stupid to ignore it.
The unemployment rate is anticipated by Goldman Sachs in the above link to rise to 6.25% by year's end. Those who have loaned us funds for our spending spree are now invested in Euros. The dollar continues its decline. To address and avert the looming US financial crisis, I may have to throw my support to Hillary, and here's why.
I would really love for this to be an era where we can build consensus, as the Obama campaign offers. I would really love to see corporations more tightly regulated and their overweaning influence on our government curtailed with John Edwards leading the fight. But I would also love to see average Americans buffered from the excesses of the Bush administration, and I think Hillary, with her tough and seasoned staff of advisors and years of exposure to DC, may well be best positioned to deal with an economic downturn, which we are almost certain to face this year.
If anyone holds out hope that another candidate can do a better job on the economy, and that is what voters are increasingly worried about, please share your reasoning. It appears that all three candidates will get us out of Iraq, a moral and financial imperative. But please also consider that handling the shifting economic sands is already causing a 45% increase in home foreclosures this January over the preceeding year.
By 4Freedom
More and more financial institutions are recycling recession talk. When the white-glove investment banking firm Goldman Sachs joins mega-retailer Merrill Lynch in agreeing that the country is already plunged into a recession, it is time to pay heed.
Iraq has played a part in leading the US into recession, as have the predatory home lending practices of banks and mortgage companies. But the real villain of the piece has been the irresponsible easy money policy begun under Alan Greenspan's reign at the Federal Reserve. Of course Greenspan was reflecting the wishes of his masters, but he was the master implementer of policy. Greenspan was a champion of the regressive Bush tax cuts of 2001. These have increased the federal deficit and are responsible for increasing the tax burden on the middle class. His easy monetary policy created the housing bubble that is now in a shambles. The stock market surged and receded, creating an investor loss of some $6 trillion.
And indeed Greenspan did say that the Iraq conflict was really about oil.
Once again we face Republican-created economic crisis that a Democratic administration will have to clean up. We are mired in the Iraq conflict, which is bankrupting America morally and financially. The inequitable tax burden on the middle class has strained family resources around our country. So, dammit, it IS the economy, and we are all stupid to ignore it.
The unemployment rate is anticipated by Goldman Sachs in the above link to rise to 6.25% by year's end. Those who have loaned us funds for our spending spree are now invested in Euros. The dollar continues its decline. To address and avert the looming US financial crisis, I may have to throw my support to Hillary, and here's why.
I would really love for this to be an era where we can build consensus, as the Obama campaign offers. I would really love to see corporations more tightly regulated and their overweaning influence on our government curtailed with John Edwards leading the fight. But I would also love to see average Americans buffered from the excesses of the Bush administration, and I think Hillary, with her tough and seasoned staff of advisors and years of exposure to DC, may well be best positioned to deal with an economic downturn, which we are almost certain to face this year.
If anyone holds out hope that another candidate can do a better job on the economy, and that is what voters are increasingly worried about, please share your reasoning. It appears that all three candidates will get us out of Iraq, a moral and financial imperative. But please also consider that handling the shifting economic sands is already causing a 45% increase in home foreclosures this January over the preceeding year.
A total of 446,726 homes nationwide were targeted by some sort of foreclosure activity from July to September, up 100.1% from 223,233 properties in the year-ago period, according to RealtyTrac.This must stop, and our next president will be tasked with stopping it. We all need to decide, in addition to ending Iraq, who can best manage our looming financial nightmare.
