[tw]

Originally Posted by Bogart

I cheer both sides, as long as someone is getting up and doing something, anything.... No politician has risen up yet which can seem to muster that kind of support, so we continue into the abyss.

People who are the problem have you successfully confused and deceived.

For example, the bailouts - ie $700billion - was George Jr; not Obama.

Business means companies constantly loaning money - short term loans and long term loans - to each other. Without those constant equity transfers, then business cannot happen.

Spread sheets were intentionally perverted especially during that decade. But when economic pressures created by overt fiscal irresponsibility caused caution and mistrust, well, eventually nobody could trust anyone else's spread sheets. Enron accounting continues and accelerated long after Enron. Nobody dared loan money to anyone. And they were right. Companies such as GM were essentially bankrupt for almost 20 years. When only four hours from bankruptcy in 1991, GM instead aggressively used spread sheet games to mask reality.

GM even owed their pension funds tens of $billion. To claim ten and hundred $million profits, GM simply stopped funding the pension funds. And that was legal. Or did your sources forget to inform you?

Before Obama came into office, Congressmen and Senators were briefed. Their white faces when leaving that meeting scared the shit out of reporters who were just beginning to grasp that the entire American economy was literally on a cliff.

Did you know how close we came to 40+% unemployment? Why things are now so spectacularly good compared to what should have happened?

Bridge loans - what the naive call bailouts - literally forced companies to have cash - to continue business deals. To purchase each other's products. You should be praying to every god you ever knew that those loans were provided. People such as Bernanke did not make the same mistake made on and after 1929.

Those who want you to hate do not say how desperate economic conditions were when Obama took office. And will not also admit that we have only just begun to start paying off the debts incurred in the 2000s. Never forget, we have just started to pay for Mission Accomplished. That is how economics works. And just another in so many reasons why the recession was inevitable, necessary. Debts even predicted here by some in 2003 when that disaster was being created. But nobody - not even the worst estimates - expected the disaster to be this severe. The $2 billion Mission Accomplished is at least $1trillion. $600 billion above even the worst estimates. $1 trillion to killed 4,400 valuable Americans for no purpose.

Where did Fox News discuss any of this? For example, did you know GM was essentially bankrupt 20 years ago? Probably not. All top GM executives - in classic bean counter tradition - told the government last February that GM was in the best condition it has ever been in. That GM's only problems were due to unions, unfair foreign competition, tax laws, and government obstructions. GM is only one of so many corporate icons in the 2000s that created this mess.

Why do so many not save every four letter word even used to label these people? Because propaganda is not telling you why we have this mess. You have no idea how healthy this economy is compared to where it should have gone. Propaganda has, instead, got you inspired in hate and myths. For example, most of the so called bailouts will probably result in good profits for the government.

To be blunt – the American economy is in the best state anyone could have expected especially due to massive fiscal mismanagement in the 2000s. Bean counters doing the damage that only bean counters can do.

We have not even begun to deal with another scam. Large blocks of Americans are now massive debtors. In the greatest debt they have even been in when they should have been starting to approach creditor status. As was discussed in another thread, your entire purpose for working is to go from debtor to creditor. Large blocks of the American economy are now underwater. Owe more money on their house then the house is worth.

Why is that part of the American economy not collapsing? We are using cash flow games to avoid paying all debts at once. We have no choice. Banks, et al have chosen to ignore these massive debts - to not foreclose. Eventually the spread sheets will reflect reality. But never for one minute forget this reality. Spread sheets do not reflect current economic conditions. Spread sheets will not report how disastrous our real estate markets are for many years. IOW we have yet to start paying for that part intentionally created by the bean counter mentalities mostly during the mid 2000s.

We will be paying for this fiscal disaster for at least a decade. As a result, American GDP (growth) will probably drop to something between 1% and 1.5%. The debts incurred with the Chinese to pay for Mission Accomplished will eventually paid with 8% interest. So where were you when this was so obvious in 2003? If you did not see the problem, then you remain part of the problem. You should know what happened through the entire 2000s. And you should know why so many of those debts have yet to appear on profit and loss statements. The average American income DROPPED 2% from 2000 through 2008. If your information sources do not emphasis this, then your information sources should be accused of lying. This has only happened once in the entire American history - the Great Depression.

Also troubling is another problem directly traceable a 'welfare to the rich' program. Most of America's wealth moved from those who create most jobs and products to those who once did and no longer do - the richest. This also has only happened once previously in American history - the Great Depression.

For example, over the past decades, the richest among us have now seen their taxes drop below 16% whereas average Americans are paying something exceeding 22%. Warren Buffet and other richest leaders have been complaining loudly about this unhealthy fiscal mismanagement for at least a decade. As Buffet said, he pays less taxes than his receptionist. But again, did wacko extremist propaganda discuss any of this? Or course not.

Obama's biggest failing has been to not explain this to a public. Obviously reality can never appear in a soundbyte. Most in the public are reciting Limbaugh, Beck, and Fox News myths rather than dealing with what is now so much better than anyone could have expected. Much of the $700 billion will come back with profits. Extremists even forget that George Jr – not Obama – created the $700 billion fund. Conveniently forget such facts so as to hype hate and fear.

We will be paying for disasters from Mission Accomplished to Constellation, et al for maybe a next decade. We have yet to see the biggest bills from Afghanistan because George Jr virtually surrendered Afghanistan to the Taliban in 2003. Of course, we do not yet know what are already pre-ordained results in Afghanistan. Welcome to another unknown and how reality really works. We will not know if we have already lost this war for many more years.

Nobody yet knows how much more American wealth was lost in real estate scams. We are only just beginning to address that disaster that was created on Wall Street.

And finally, you should also know something obvious. Wall Street does not create jobs, national wealth, or long term American growth. So many of America's most productive and growing companies could not get financing from traditional Wall Street. This Wall Street cannot invest in anything innovative. Because innovation does not appear on spread sheets until long after the innovation is no longer innovative. But again, a reality you will not hear from the major propaganda sources that are also blaming everything on Obama.

Bogart. Read more about this as was known even in 2008 in: How the GAME is played.

What should be obvious. The worst is over. Things are finally starting to improve. Which is why so many more of the 2000's created disasters can now being addressed - ie mortgage foreclosures are just beginning. It will take ten years to undo the mess created by overt fiscal mismanagement mostly from (but not limited to) the years after 2000. No soundbytes that can explain any of this. Welcome to hard reality.