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Debt ceiling will not be raised
Message
From
16/09/2013 16:37:50
John Ryan
Captain-Cooker Appreciation Society
Taumata Whakatangi ..., New Zealand
 
 
General information
Forum:
Finances
Category:
Credit
Miscellaneous
Thread ID:
01583150
Message ID:
01583363
Views:
42
>> There's substantial evidence to support the position that the handling of this slow recovery has magnified the 2008 recession
>> The actual sequence of events that led to the beginning of the recession in 2007 (which wasn't felt until 2008) is far more complicated than the four items you listed (I don't discount that at least 2 of them are major factors)

Not fixing the blame for recession, I'm talking about the current debt issue. It's a truism- $47T for Medicare is the elephant in the room that dwarfs any of the other politicized complaints of waste or splurging.

>>And note, I'm not saying bankers opposed what occurred during the Bush years. Many drank the Kool-Aid

Actually influential bankers are the ones who lobbied for it. Bush didn't wake up one day and decide to relax standards, it was a significantly planned and supported process. Then the bankers ran away when it turned to custard. Sorry but such people never again should be entrusted with anything that matters.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us.
"
-- Shakespeare: Coriolanus, Act 1, scene 1
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