An apology to Digging4Truth and Edward Anglin - Page 6

coadie · #51 10-22-2009, 02:31 PM

Quote:

Originally Posted by Ferd

well, D4T was. EA was.... I just apologized...

what more do you want?

Let me tell you my reasoning.

When GWB was president debt spending was less than 15% of GDP and the trajectory of the economy until fall of 2007 appeared to be going higher than the spending.

one could rationalize the spending being what it was due to 2 wars, was reasonable and within the capacity of the nation to absorb it.

Now that number has crossed 30% and is headed toward 60% of GDP and at the same time the economy and GDP growth is going in the opposite direction.

Those are my reasons for the mistake I made and the reasons why it might be too late to correct now.

2 simple things I see ignored. I will say these are things republicans were right and Dems were wrong. We should have drilled. Drilled and announced more drilling. Had we done so, we would have shipped 1.5 trillion less to the Arabs. Had we even announced drilling, it couldn't have hit 100 dollars a barrel. This trillion is money sent to Arabia.

Bear Stearns and lehmen Bros were writing subprime paper and selling collaterilized debt securities. PNB Paribas even got bucket loads and last septermber lost a market for the junk.

AIG was selling insurance against defaults.

Then the Mark to market started the shorts and their selling. Barnie Frank was our Ballooon boy.

We had 2 bubbles and one big bleeder. Geithner and gang are trying to create another bubble to cover the last ones. We need fundamental growth and not a bubble.

Digging4Truth · #52 10-22-2009, 02:31 PM

Quote:

Originally Posted by coadie

I have access to far too much inside information in business.

We need a Reagan more than ever and we got a Nixon/Carter hybrid.

What we need is Ron Paul.

Quote:

Let me tell you Ron, there are a lot of people out there in the Republican primaries, trying to seize the mantle of Ronald Reagan...but when it comes to economic issues, you are the only guy out there that really is delivering the same message that Ronald Reagan delivered for 30 years.
Joe Scarborough, August 22, 2007

deltaguitar · #53 10-22-2009, 02:32 PM

Quote:

Originally Posted by Ferd

well, D4T was. EA was.... I just apologized...

what more do you want?

Let me tell you my reasoning.

When GWB was president debt spending was less than 15% of GDP and the trajectory of the economy until fall of 2007 appeared to be going higher than the spending.

one could rationalize the spending being what it was due to 2 wars, was reasonable and within the capacity of the nation to absorb it.

Now that number has crossed 30% and is headed toward 60% of GDP and at the same time the economy and GDP growth is going in the opposite direction.

Those are my reasons for the mistake I made and the reasons why it might be too late to correct now.

Well interest on debt was $400 billion this year. Our GDP is 14 trillion. That means we are spending 2.857% of our GDP on interest.

Now I am not totally disagreeing with you. I think debt it bad and I really don't like the direction we are headed and I pray we get some conservatives in there who will fight to get spending under control.

rgcraig · #54 10-22-2009, 02:33 PM

But, what can a single woman like me do?

I can't hunt.

deltaguitar · #55 10-22-2009, 02:35 PM

Quote:

Originally Posted by rgcraig

But, what can a single woman like me do?

I can't hunt.

You can move to Canada.

deltaguitar · #56 10-22-2009, 02:36 PM

Well, even though I think you guys are overreacting I think it is a good idea to plan ahead. And maybe a little overreacting is what we need to get things back on track.

rgcraig · #57 10-22-2009, 02:36 PM

Quote:

Originally Posted by deltaguitar

You can move to Canada.

Feeling the love!

Digging4Truth · #58 10-22-2009, 02:38 PM

Quote:

Originally Posted by deltaguitar

Well, even though I think you guys are overreacting I think it is a good idea to plan ahead. And maybe a little overreacting is what we need to get things back on track.

Like my wife and I had discussed... worst case scenario... this is what we feel is wise anyway. This is what we want anyway.

I hope you are right.

deltaguitar · #59 10-22-2009, 02:38 PM

You know everytime we have a tornado or hurricane or something I always think that it would be a good idea to have a was to be self-sufficient.

coadie · #60 10-22-2009, 02:38 PM

Quote:

Originally Posted by Digging4Truth

What we need is Ron Paul.

Ron paul is right in that he is making progress with a bill to get disclosure for the Federal Reserve.

Ron Paul and his Austrian School Economics are not only a pre industrial model, the Austrian school has never even been tried in a country.A non modern model he pushes would fit like a fish needs a bicycle.