U.S. consumer mood highest in 8 months

mc mark · May 29, 2009

Jorgie's posts are just like candy these days!

yum!

DonkeyMagic · May 29, 2009

pgabriel said:

because mccain is gwb?
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in the masses mind.

ownership society
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we know...everything was bush's fault

pgabriel · May 29, 2009

DonkeyMagic said:

in the masses mind.

we know...everything was bush's fault
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actually, the point i was making was bush pushed the housing market more than any of the presidents whom the buildup of this collaspe happened on their watches. i never said none of the previous had responsibility, don't project just becuase you claim to be bipartisan when we know you're not.

adoo · May 30, 2009

Trader_Jorge said:

9-11 had a little something to do with the Clinton surplus being erased.
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Traitor_Jorge is repeating the rhetorics propagated by the Fixed News Channel without knowing wtf he is talking about. what else is new!

By July 2001, before Congress had recessed, Dubya had already pissed away the huge surplus that he had inherited from Clinton. This was two months before the 9/11 attack.

Trader_Jorge said:

Now Obama, on the other hand, has put forth a budget with the biggest deficit of all time, all on his own -- as he is advancing his massively dangerous social agenda.
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once again, Traitor_Jorge is being intellectually dishonest.

to clean up the economic mess caused by his incompetence, Dubya had to bail out the bankrupt finanical industry Last Nov. it wasn't enough. O had to inject more medicine to revive the dying financial industry caused by Dubya's incompetence.

Trader_Jorge said:

Third, Bush did not take any policy measures that lead to the excessive risk taking in US banks. That was a private sector action. If anything, the Democrats had more to do with it by forcing banks to lend to sub-prime borrowers.
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this is from the link (LATimes) provided by pgabriel

Was Bush's 'ownership society' cause of world economic meltdown?
12:26 PM PT, Oct 24 2008

When he was testifying before Congress the other day about the world's economic crisis, former Bush Treasury Secretary John W. Snow said that too many unqualified people got loans. He suggested that one of the culprits might have been George W. Bush's "ownership society."

Borrowing the concept from conservative thinkers, President Bush began touting an ownership society early in his first term. The idea encompassed a range of policies -- from healthcare to house buying -- in which Republicans believed government should get out of the way and empower individuals to make their own financial decisions. In a fact sheet, the White House said:

The president believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security.

Challenging the real estate and mortgage finance industries to "close the gap that exists between the homeownership rates of minorities and non-minorities," the president argued that increasing homeownership would enroll everyone in the fabric of their communities, thus decreasing crime, improving schools and cementing a sense of local civic pride.

So today, White House Press Secretary Dana Perino was asked if the initiative went too far. Maybe, a reporter suggested, it was the president who encouraged the bad lending practices that led to the subprime mortgage mess.

In a rare moment of bipartisanship, she not only defended President Bush but President Clinton as well. In fact, she more or less blamed Congress, saying:

The president did promote homeownership, especially minority homeownership, which went up at an amazing rate. The president never recommended risky loans. And in fact, we were trying to put the kibosh on that for a long time, and we didn't have a willing partner in Congress.

We do think that people being able to own their homes is a way to help establish good communities, good families and help improve the economy. So we did support that. But no one in this administration, nor the previous administration, would have supported people getting into situations that they weren't going to be able to -- where they weren't going to be able to pay for their own mortgages.
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U.S. consumer mood highest in 8 months

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U.S. consumer mood highest in 8 months

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