Conservative Roundup

They each make a point worth thinking about

Read Pat Buchanan and

Charles Krauthammer

Economic Downward Spiral Good For Obama

It appears that the looming economic disaster is helping Obama.
This is because the president and by association his party gets blamed for economic woes.
In most cases this is unfair because the President does not have as much influence on the economy as people think.
Also some people are actually saying things are so bad we need another FDR and that is Obama.
Poppycock.
First FDR did not get us out of a Depression. All of his programs did nothing to turn the economy around. What got us out of the depression was WWII. First Arming England and Russia through the lend lease program and then our own forces when we entered the war followed by a surge in demand for consumer goods after the war.
Second Obama's economic policy would not help it would hurt. We want to grow the public sector economy not the government sector. Even if Obama did not raise taxes (of course we know he will) he would limit the amount of capital available to the private sector through deficit spending. There is not an infinite supply of capital. The more the government spends the less capital is available to finance the public sector.
The Federal Governments spending is the biggest problem. Obama says he will spend more. McCain says he will spend less. A pretty clear dichotomy between the two.

By the way the "Bush" tax cuts have not in any way contributed to the current economic problems. Revenue collection has increased not decreased as a result of the tax cuts. The cuts spurred economic growth. More growth equals more taxes (yes I know at some point in tax cutting this no longer holds. We have not yet reached that point). The fact of the matter is that after 9/11 we were headed for a recession. Anybody remember that? The Republican response. cut taxes! This lead to 7 years of a strong economy . It would still be strong if the housing bubble did not burst. A housing bubble caused by democratic policies.

Of course I have little hope that the public will grasp this. It is much easier to understand take from the rich and give to the poor is the cure. Election advantage OBama the socialist.

Now they are both full of it.

Obama and McCain have both made statements that the financial failure that are occurring will not happen on their watch.

OOHHH PULLLease. As if anyone could keep that promise. Besides if they could keep it that would be a bad thing. The failure of Lehman Brothers, Merrill Lynch, Freddie Mack, Sallie May etc..etc... where caused by something I like to refer to as" the free market". yes the financial genius at these companies got carried away and made bad decisions and now they are paying the price. Just like a lot of Americans accrued more debt then they could handle and are now paying the price. The Market rewards good decisions and eventually punishes bad decisions. Here is a novel concept people in the market must be responsible for the consequences of their actions. Ohh wait we do not believe in responsibility.

If we regulate away the ability of people to make bad financial decisions they will be limited in the amount of risk they can take and some highly profitable good decisions will be foreclosed to them thereby limiting the ability of the market to work. Two sides same coin. Some bad decisions have to be made to get some good ones. You have to have failures in order to have success..


All these "bad decisions" that these companies made and which eventually caused their
failure allowed these companies to make a lot of money for a lot of years. Introduced new capital into a lot of markets. Allowed a lot of people to buy homes who are not loosing there homes.

I would love to see some economist do a study as the whether the whole thing was a net gain for the economy a loss or a break even. Wouldn't that be interesting.

lets not Panic. do not through the baby out with the bath water. We will experience some short term pain, some more then others (and perhaps deservedly so) but we will easily survive this and if we do not overreact be better off in the long run

WHO HAS INTEGRITY

Not Obama, Check out this link. Obama was willing to play around with our troops and our foreign policy in order to gain an election advantage.

McCain on the other hand was willing to loose an election rather then do what he thought was the wrong thing

Please Explain

Democratic presidential nominee Barack Obama said Monday the upheaval on Wall Street was "the most serious financial crisis since the Great Depression" and blamed it on policies that he said Republican rival John McCain supports.

Ok now somebody explain what policies and how with some specifics.

Is That asking too much?