[StBernard] Obama supporters post-election

[Westley Annis]

Jim,

These foreign government, or I should say foreign "investors" are in as much
a pickle as we are...because they're married into this mess.  If they decide
"alright, no more money to the U.S." then they shoot themselves in the foot
because our economy would begin to collapse, stocks and investments (of
which they have billions vested in) become worthless.  Like I said, we're
all married to one another in this big mess.

The best thing the U.S. can do is to improve its credit rating with the
world.  The best way to do that is to get back down to (or as close as
possible) to a balanced budget while elimating at least some of the debt.
But, if you raise taxes, which is how the idiot Democrats only know how to
think, then we shoot ourselves in the foot and our economy cannot possibly
make a comeback to where it needs to be to make the rest of the world feel
at ease.  So, the only way we can get back to a balanced budget without
raising taxes is...can somebody hand be that big scizzors...time to start
cuttin'.  But, Obama says he wants to spend another trillion dollars.

As you can see, we're in a catch-22.  Which just goes to show Obama and
Dem-witted (laugh) friends do not understand how a domestic economy works in
relationship to the world economy.  If Obama dumps another trillion into the
economy, the dollar drops in value..interest rates go up.  True, the FRB
could freeze or lower the prime, but that would cause the dollar to drop
even more.  You see?  It's a vicious relationship where everything needs to
be balanced "just right."

My biggest frustration with all this, and my wife gets tired of hearing me
say this, I'm just a dipshit from Chalmette with a public school education,
so how is it that I can figure all this out yet the new messiah we just
elected and his pals on Capital Hill can't seem to figure that out?  Don't
worry my liberal friends, I have a few choice words for W as well.

In all honesty, everyone is to blame here, Jim.  Some more than others.
Yes, the Democrats are the leading culprits here back in the 90's when they
reinforced the Community Reinvestment Act.  Just about all this economic
mess we're facing has its foundation from the mortgage industry started by
Fannie Mae and Freddie Mac for allowing way too many people to have mortgage
loans who didn't have sufficient credit to buy a book of matches - that
that's the damned fact of the matter - believe I know since I work in that
industry.  Then, everybody else started getting greedy - including these
very same foreign investors.  They want to blame us now, but they too had
dollars signs in their eyes when the real esate boom was going on.  Nobody
put a gun to their heads to buy those lousy investments.  So they're as much
to blame as we are.

Like I said, cut the hell out of government spending and lower its make-up
of the GDP.  That will be a good start to recovery.

John



-----Original Message-----
John,

Krugman stated the govt may have to take the deficit (not the nat'l debt) to
a trillion in order to prime the economy.  But the only way we can do that,
that I see, is selling T-bills/note to foreign governments.  How much and
for how long are these governments gonna keep floating the U.S. federal
government?  That's what has me concerned.

Jim