fannie and freddie are getting bailed out, and the big three could be next

[mark1]

Let's see, markers of a good economy:

1. Unemployment at 6.1% with job losses for 8 straight months
2. Feds have to bail out Fannie Mae and Freddie Mac
3. Foreclosure rate at highest in decades with numbers of past dues still increaing
4. Price of oil doubles in 12 months
5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
6. 9 bank failures this year to date
7. Major investment banks writing off up to $30B (UBS) in MBS related loses
8. Dollar falls to historic lows against Euro
9. Potential bailout of the Big 3 automakers on the horizon
10. Trade deficit goes from $369B to $709B from 2000 to 2007
11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

Who's to blame for the "spotty patches:"

1. Congress for the last two years only (or before 1994)
2. Bill Clinton
3. Liberal media
4. Jimmy Carter
5. Barack Obama

Got it!

All of what you posted is true, but the economy is still growing. Rising inflation and oil prices do not mean that the economy is bad. True, the banks are struggling, but that has to do not with the economy as a whole, but with the mistaken belief that housing prices will never fall, which the banks had until recently.

By the way, companies that make stuff here and sell them to Europe, like caterpillar and john deere, are doing very well. The falling dollar is not bad for everyone.

We are now at the end of a bubble, and the situation now is analogous to the end of the internet bubble in 2000. None of the people you listed are to blame for this, and George Bush is not to blame for this either. This situation was caused by two things happening simultaneously:

A belief held by many that housing prices will continue to rise indefinately.

China and India rapidly industrializing, and therefore using more oil, making oil more expensive for everybody.

[JB]

Let's see, markers of a good economy:

1. Unemployment at 6.1% with job losses for 8 straight months
2. Feds have to bail out Fannie Mae and Freddie Mac
3. Foreclosure rate at highest in decades with numbers of past dues still increaing
4. Price of oil doubles in 12 months
5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
6. 9 bank failures this year to date
7. Major investment banks writing off up to $30B (UBS) in MBS related loses
8. Dollar falls to historic lows against Euro
9. Potential bailout of the Big 3 automakers on the horizon
10. Trade deficit goes from $369B to $709B from 2000 to 2007
11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

Bush spends too much. Everyone knows this. I'm not happy about it.

Everything else on your list is recent, so yes, I'm putting it all on the 2006 Dem congress.

[LibraryLady]

Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008

Name Office Party/State Total

1. Dodd, Christopher J S D-CT $133,900

2. Kerry, John S D-MA $111,000

3. Obama, Barack S D-IL $105,849

4. Clinton, Hillary S D-NY $75,550

[Troll]

I heard today on the news that Fannie Mae and Freddie Mac have never paid any corporate income taxes. Can anyone give me a legit source that confirms or disproves this?

[Lager]

That's a good list, but everyone forgets about the elephant in the room. The billions, or possibly trillions in unfunded liabilities for our entitlement programs coming soon.

[mark1]

How can you say that. You know that Magic Negro (btw, why aren't you calling him your usual term for blacks, i.e., " black beauty"?), is going to lose big. He's even going to lose NJ!

Actually, we don't call him "magic negro." That term was first used by Black LA Times columnist David Ehrenstein to describe Barack Obama. Limbaugh made a parody song based on that article. Even though he said in his song that he is making fun of the LA times, everyone blamed Limbaugh and not Ehrenstein. Here is the article if you don't believe me:

http://www.latimes.com/news/opinion/...,5335087.story

BTW, stick to the topic.

[Eyelids]

[Rebel Yell]

OK, 'Lids. What does that prove? Either one of them would bail them out. And it's bullshit on both parts.

[Eyelids]

Maybe John should practice what he preaches.

[Sonnabend]

Maybe John should practice what he preaches.

Pot, kettle, over.