1RuleNoRules

2009: The War on Capital(ism) Must Be Stopped

Ferdinard, I must disagree. I believe this current crisis is brought on mainly Fannie Mae and Freddie Mac, both are philosophical children of the left brought to fruition by the Democratic Party and centrist Republicans. If you want to find an election that went wrong I think we can agree on the election but for different reasons. The election of Reagan/Bush, RR selection of GHWBush as VP was a terrible selection. Bush coined the terms "Reaganomics" and "voodoo economics". Reaganomics was meant to be an insult, but the press loved it and Bush quickly replaced it with voodoo economics. Bush was not the man to continue the Reagan revolution and he did not continue it. Such like minded republicans have seemed to have come and gone.
Back to your point of John Kerry, as a Democrat, even if he had problems with Fannie and Freddie he would not have been able to go so far against his party to make effective change. The most effective change would have been the elimination of Frannie and Freddie. The sooner the better, financially. No elected person could confront Frannie and Freddie without risking their elected position. Republicans included. Americans voted for this problem, they must own it. Which brings me to another point. Republicans in Congress should allow the Dems all they want in the coming transition. They must allow the Dems to own the solutions undiluted with Republican wisdom(which has been missing in the last 8 years, which is about how long Gingrich has been gone). Obama will not have 8 years if does not confront corporate taxes, they are too high. It is insanity to think that anyone or any thing should be taxed at rates higher than say 10%. It is only because of own highly evolved and productive economy that we have survived this long without recession. If government needs more than 10% it is doing too much.
See you in 4 years.


On Jan 04 08:42 AM Ferdinand E. Banks wrote:

> This article sounds good, until you take a few seconds and think
> about what it says. Then it isn't good but crank. Whether I am correct
> or not, I intend to continue believing that the present difficulties
> in the US could have been detected and corrected had the 2004 electrion
> turned out the way that it should have turned out - with a huge Kerry
> victory. I also don't understand why President-elect Obama should
> be satisfied with a 4 year stay in office when, if he makes the right
> moves, he can have 8.