It's the Economy, Stupid!

[dropthatpuck]

Re: It's the Economy, Stupid!

{surprised Todd hasn't made an appearance}

[Bill]

Re: It's the Economy, Stupid!

He also has some whacked-out crazy ones, too. Like going back to a gold-standard for the dollar.

And having nothing to back up the dollar is a good thing? At one time, "the full faith and credit of the US Gov't" meant something, but with the US being in the hole for 60-70 trillion dollars (counting unfunded Social Security and Medicare liabilities) or more, I'm not sure how much longer that faith will last.

[BearPaw]

Re: It's the Economy, Stupid!

He also has some whacked-out crazy ones, too. Like going back to a gold-standard for the dollar.

What the GOP needs is someone who is neither beholden to the religious right nor someone who takes fiscal conservatism to the extreme like Paul. I don't know if that candidate exists in this day and age, but there's got to be some moderate conservatives somewhere.

There may be such a candidate but they would never get the financial backing to get elected. The money backs the candidates that they can control.

[unofan]

Re: It's the Economy, Stupid!

And having nothing to back up the dollar is a good thing? At one time, "the full faith and credit of the US Gov't" meant something, but with the US being in the hole for 60-70 trillion dollars (counting unfunded Social Security and Medicare liabilities) or more, I'm not sure how much longer that faith will last.

Such liabilities are on paper only...the gov't could end SS and medicare tomorrow if they wanted/needed to. They aren't contractually bound by anything to keep those entitlements running.

Allowing the dollar to float is not the issue. Self-control is the issue. If Americans stopped buying everything and anything on credit, the dollar would regain its strength quicker than you could imagine.

[Kepler]

Re: It's the Economy, Stupid!

Allowing the dollar to float is not the issue. Self-control is the issue. If Americans stopped buying everything and anything on credit, the dollar would regain its strength quicker than you could imagine.

That's why the credit crisis wasn't a crisis. It was the crows coming home to roost on people who extended credit irresponsibly.

Everybody on the board of Lehman should be homeless.

[LynahFan]

Re: It's the Economy, Stupid!

That's why the credit crisis wasn't a crisis. It was the crows coming home to roost on people who extended credit irresponsibly.

Everybody on the board of Lehman should be homeless.

Man I wish I could rep you.

[joecct]

Re: It's the Economy, Stupid!

Such liabilities are on paper only...the gov't could end SS and medicare tomorrow if they wanted/needed to. They aren't contractually bound by anything to keep those entitlements running.

Allowing the dollar to float is not the issue. Self-control is the issue. If Americans stopped buying everything and anything on credit, the dollar would regain its strength quicker than you could imagine.

True, but if they want to live for the next vote, they'll never kill those 2 programs.

[Bill]

Re: It's the Economy, Stupid!

How long before the government starts cranking up the printing presses even more to pay down our debt with cheaper dollars and big time inflation ?

[joecct]

Re: It's the Economy, Stupid!

How long before the government starts cranking up the printing presses even more to pay down our debt with cheaper dollars and big time inflation ?

After 2012.

[Plante26]

Re: It's the Economy, Stupid!

Everybody on the board of Lehman should be homeless.

Ditto for everyone involved with Fannie and Freddie, along with everyone that deterred the revamping of their credit policies.