My favorite part of the whole mortgage crisis is how the Dems. are blaming the Republicans (and getting away with it with the help of their media buddies) when they were responsible for most of it. Unbelievable!

The US wouldn’t be in such sad straits if it weren’t for the Dot com crash (as soon as Billy left office), Enron (Billy again), 9/11 (oops—another Billy), two wars, Katrina, and a host of other forest fires and hurricanes, never mind this whole mortgage thing, which Bush tried to prevent with at least two attempts to increase regulation. GW has had the toughest and most costly presidency since WWII.

I say, if we want to pump up the US economy, we need to STOP funding the United Nations, and stop paying blood money to various Moslem countries. Crushing unions would be next. Has anyone heard about that 6 million dollar golf course the Auto Union’s been keeping?
http://www.foxnews.com/story/0,2933,472304,00.html

Wealth of the nation is, in essence, productivity of workforce multiplied by employment.

Money, being it marbles, shiny metal coins, fancy paper, or digits in banker’s computers, is abstraction, useless on all means except as a tool to maintain high rate of employment, long-term productivity, and as the result steady wealth creation in the nation.

Whatever government does (printing money, issuing credits, making bailouts, going in debt, changing bank prime, changing banking assets/leverage ratio, etc.) is fine as long as it serves main purpose of money: creating wealth – GDP/person.

It takes tremendous wisdom to maintain right money supply (printed money multiplied by fraction-reserve credit creation and money velocity) to maintain sustainable growth of economy, without creation of credit oversupply bubbles.

Common sense of family finance management has nothing to do with macroeconomics of money and credit management of continental-scale economy.

have a nice day

When same whaling ship visited another Pacific Island, they discovered that islanders are in much disarray.

What happened?”, asked captain.

“Well, recently we discovered that we have much less marbles than anyone thought. So nobody want to trade precious marbles for goods, and people stopped working in the fields, gathering tropical fruits, fishing and building canoes and hats. We are starving.”

“So ask you chieftains to make more marbles, or borrow more marbles from other island! Marbles will again begin to trade for goods, and people will start working again.”, said captain.

“No can do”, said conservative and savvy islanders. “We will enslave future generations of islanders, and they will toil to death to return marbles to chieftains and other islanders. We better die.”

Unfortunately, Obama is stoking up the printing presses and will nonetheless prepare to increase the role of government in our economy and hyperinflate the currency.

He is listening to his Neo-Keynsian bucket brigade and carefully following their recipe for firefighting. They are passing him buckets of gasoline and instructing him to throw it on the smoldering, smoking economy…

We are headed for a perfect storm and Obama is flinging wide the hatches and hoisting the sails…