“Scheduled to close on the building in the coming weeks, the association will have to pay millions of dollars more than it would have a year ago when it contracted to buy the 160,000-square-foot structure — millions of dollars it is now less able to afford. “

Again I ask the same question?

Your post and especially your headline is a bit misleading at best.

John Lennon

They weren’t the ones bailing out Bear Stearns. That was the republican-appointed head of the fed. I guess he’s just another socialist in conservative garb.

Oh, that other stuff. Well the medical and mortgage execs got their bonuses so who cares? Stocks are up since ‘02 and ‘05 so everyone wins.

Real wages? What’s a fake wage?

Anyway, these guys are in Washington, right? Here’s the big business they should switch to: destroying evidence! Yes, the Bush regime did write some things down, if you can believe it.

to all..
I’m going to BEDfordshire. Goodnight.

Just try to avoid BEDlam. :)

Lets have a good deep one, with Clinton in office. See how long it takes to Impeach her.

this encapsulates the inhumanness of republicans, and the reason they should be crushed and destroyed forever as soon as possible. this is America-hating at its apex. Outlawing the GOP may be the only way to save America.

Too bad the only socialists in this country are the rich Republicans, screwing the poor again.

As long as the economy wasn’t too bad, they would jabber about Pres Bush’s supposed good handling of the economy. The economy was “roaring”.

Now that they no longer can deny reality, it’s Clinton’s, or Obama’s, or Congress’ fault that a recession is looming -anyone but their Dear (mis)Leader.

Such a deep, entrenched self-delusion and denial would make a fine case study for Freud.

I was trying to answer Fred’s question but started getting all wrapped -up in the pyschology.

Very succinct explanation. Peple should make a note.

Remember early 2001?
The “Internet Bubble”, driven by the usual stock manipulators, burst when everyone finally noticed that nothing of real-world value was being produced. Some investment capital was lost,other investment capital was frozen for a while as potential investors became “risk averse”.
THAT market adjustment was called a RECESSION, in pretty short order–Bush43 began talking about having inherited a recession from around APril of that year.

The fix, he said, would be an income tax cut.

And every year since 2002 he has claimed that the income tax cuts were improving the economy, that the economy was “strong” , that it had “never been stronger”, that the “tax cuts are working”.

HOW THEN, if Bush’s cuts were the solution to what was called a recession THEN, can the US be in a recession NOW?

This is one reason why the admin doesn’t want to call a recession. Bush’s tax-cut policy was BOUND to lead to a recession–it was exactly the same as Reagna’s tax cuts, which caused a recession that Bush41 inherited.

Bush 41 maintained the recession because he mainted the cuts for the wealthy and only raised taxes on the lower income strata–when they of course could least afford it.

Clinton’s economic policies turned all that around. The Republicans even HELPED–they had the majoirity in both Houses for six years of Clinton’s presidency.

And then once EVERYONE is better off, the Republicans return to a failed tax-cut scheme to spite the Democrats and burden the Democrat voter-base. The taxes of the less well-off pay for the tax breaks of the rich, making them even richer.

Their election slogan is “you can be RICH, like us, if you vote GOP”. It works on the rubes, but most of them will be impoverished. A few however, will join the ranks as GOP apparatchiks and reap the rewards of GOP welfare and once there they will fight to stay there. And they will repeat the slogan, and claim they made-it on their own honest merits.

Like I said before, if Bush’s cuts were the solution to a recession in 2001, HOW can the US be in a recession in 2008?

Why won;t the press ask this simple question?

( yes…yes, I know only too well!)

“I have often observed that the right always drives our economy off the road and I don’t understand why. Can anyone explain this phenomena?”

Fred, it is not happenstance, it is deliberate. Just study any financial crap-shoot and you will see the same occurence time after time. The moneyed insiders drive up the price until the small investor takes the bait and jumps in with all his savings. When there are enough new fish in the pond the powers that be pull the plug and watch the little guys go down the drain. When the market has dropped sufficiently they start the cycle all over again. What has changed hands? The sucker’s money. The share of stock is still the same share of stock, the ounce of gold is still the same ounce of gold. Old PT (P. T Barnum of Circus fame) was not entirely up to date. The fools now procreate at a rate far greater than his one a minute.

We haven’t had a recession “25 years” thanks to the “good work” of Republicans? Maybe 2008 – 2001 = 30 in troll math, but in the real world the last recession was 7 years ago under Pres Bush -who happens to be a Republican. And we are heading towards another, if we aren’t already in it.

There is no way to pin the current financial mess on anyone but this administration, and them alone. They were the ones who decided to deny even the likelihood of a recession, and refused to do anything at all about the worsening economy.

Clinton/Congress/Obama did it? I don’t think so…

What Americans really need is an economic spanking, financial nipple clamps and a pecuniary golden shower!

And maybe some fiscal frottage?

I don’t believe it is accidenal. they always do it and the only thing I can figure out is that they can buy up the things that others can no longer afford for bargain prices.

If that is true then it follows that they must eventually want to see things get better so they can profit from their accumulated things at much better prices than they bought them for.

For that to happen they must know that at fairly regular intervals or cycles that they must cede power to those who would do the right things to make our economy strong again….

You and your 29% ilk are responsible for this mess, and you can spin it until you fall over and throw up from dizziness, but that won’t make that fact any less true.
BTW, what do you do for a living that makes you an expert on the economy, because these posts show you don’t have a clue what the ___ you are talking about?

For the details, see:
“Kudlow to McCain: Americans Need an Economic Enema.”