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Originally Posted by Dowly
Would be nice to have a reference for us non-US ppl to check whats this all about.  |
It's like this. You know how we laugh at despots in Africa that get in power and use the government coffers like a personal bank account? Well this is all Bush is doing here. We laugh when dictators print more money to stimulate the economy, but that's all America does. They just fire up the printing presses. Now they fire up the computers actually because all that "money" on the books doesn't exist. The economy is melting down because all the chickens are comming home to roost at once and that money is just a fake number in a computer with nothing behind it.
The Bush supporters want to blame congress but that ignores the fact that the executive branch has made itself much more powerful over the last 8 years thanks to the Bush regime.
August said it's a democrat congress, it is but he isn't saying that the simple majority they have is not enough to override the executive.
Now Neal is right about the only thing left in America is Starbucks, McDonalds and Wal-Mart but bailing out one small manufacturing sector doesn't solve this. What about all the other thousands upon thousand of American factories that lie shutterd all over the country? America stopped making the things it consumed years ago and used credit to buy the things they needed for consumption from other countries. Now other countries are tired of funding America's leisure on credit that looks like we won't be able to pay.
Many experts warned of this but were ignored because it wasn't a politically good things to say.