It's funny because I've read from several other sources that have stated that we are technically have not been in a recession.....but I'm sure that will change.
I think there's a lot of merit to what Forbes is saying. He's definitely correct about this falling on the heads of our government: bad planning, bad policies, etc, that date back to the early 90s. I mentioned last week in one of my posts about the Community Reinvestment Act amended in '95 by yours truly, B.Clinton, which forced companies to give sub-prime loans and easy credit to high-risk people. This should not have been done. Now we have folks spending way beyond their means and foreclosing on their homes, etc, etc.
Anyways, you already read a lot of my thoughts on my blog; and I'm sure you caught the lively debate I had with one of the gals on PD.
Also, he's absolutely correct on Obama. The Chosen One plans to raise taxes which is NOT what should be done right now. That could kill us economically.
First, I think it's wonderful that Kristen couldn't stop commenting, ha ha ha. Well, you know how opinionated I am. However, I am glad they are finally admitting we are in a recession. I guess we have finally hit every criteria needed for them to admit what we all already knew :)
Kristen- good articles. Parts of the second one take some effort for me to understand, with his dry sarcasm. But I think I got the gist of it.
I thought it was interesting that he mentioned ACORN was one group that urged banks into making subprime loans, and ACORN is also one group that would have benefited from the bailout. I can't remember where I read that, however.
6 comments:
It's funny because I've read from several other sources that have stated that we are technically have not been in a recession.....but I'm sure that will change.
I think there's a lot of merit to what Forbes is saying. He's definitely correct about this falling on the heads of our government: bad planning, bad policies, etc, that date back to the early 90s. I mentioned last week in one of my posts about the Community Reinvestment Act amended in '95 by yours truly, B.Clinton, which forced companies to give sub-prime loans and easy credit to high-risk people. This should not have been done. Now we have folks spending way beyond their means and foreclosing on their homes, etc, etc.
Anyways, you already read a lot of my thoughts on my blog; and I'm sure you caught the lively debate I had with one of the gals on PD.
It's a mess......
Also, he's absolutely correct on Obama. The Chosen One plans to raise taxes which is NOT what should be done right now. That could kill us economically.
One more thing......
I objected to this bailout, but there are other options to look at that would not be so drastic nor would put a major burden on the taxpayer.
First, I think it's wonderful that Kristen couldn't stop commenting, ha ha ha. Well, you know how opinionated I am. However, I am glad they are finally admitting we are in a recession. I guess we have finally hit every criteria needed for them to admit what we all already knew :)
I put these sources on my blog, but thought I'd post them over here too......just because.
Extra reading for ya':
http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=newssearch
http://tsfiles.wordpress.com/2008/09/20/neal-boortz-on-the-government-engineered-mortgage-crisis/
Kristen- good articles. Parts of the second one take some effort for me to understand, with his dry sarcasm. But I think I got the gist of it.
I thought it was interesting that he mentioned ACORN was one group that urged banks into making subprime loans, and ACORN is also one group that would have benefited from the bailout. I can't remember where I read that, however.
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