Re: OBAMA'S THREE STOOGES SPEAK: PELOSI, READ AND FRANK: THEN THE (All about celebrities)

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Re: OBAMA'S THREE STOOGES SPEAK: PELOSI, READ AND FRANK: THEN THE

Posted on: Fri, 21 Nov 2008 11:45:44 +0000 (UTC)

On Nov 20, 3:34=A0pm, TheLegionsofRome wrote:
> Obama, Read, Pelosi and Little Barney Frank are like a double dose of
> the HIV virus unleashed upon the economy. They are utterly destroying
> the economy and the country.

From previous posts of yours, I know that your either very stupid or
just misleading. I write this not for you.

The markets started their descent a year ago. Back when the housing
bubble popped. Back when everyone who had leveraged themselves at
impossible rates to repay if the market were to start a decline. When
the bubble popped last year in August, it started a cascade of
economic ruin. Leveraging only works if markets/bubbles keep
expanding. Only an idiot would think that housing would keep going
up.

By the way, many of the great economic minds foresaw this collapse
five or more years ago. If you do some google searching, you'll find
writers who were predicting this back in early 2000. Even one of Alan
Greenspan's people warned about this. Alan Greenspan's, that
overrated hack, words were, The market will take care of itself. Want
to know why Alan retired? He finally saw what was coming back '06.

So the dominoes started falling back in August 2007 and somehow it's
Obama's fault. The economic ruin was foretold back seven, eight years
ago but somehow it's Pelosi's fault.

I could blame Bush but he's only one person in this big stupidity. I
will blame this laissez faire attitude many people had. Free
markets! No or little regulations. It's as if everyone forgot what
happened in 1929. Not everyone, though. There were many warning
about this but they were being ignored. We were all intoxicated by
the rapid growth of the markets. A growth fed by air. It was
unsustainable. Most of the value of a property was bubble economics.
Things were valued way beyond their actual value.

I keep hearing this stupidity about the markets look forward. It was
this looking forward that created this mess. People having
unrealistic expectations of market performance fed this mess.

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