the right was blaming Obama for the countries financial problems before he won the 2008 election, Rush Limbaugh started it by telling his audience in July 08 that the stock market was drifting south simply because there was a high prospect of Obama beating McCaine, he said the mere idea Obama would get elected was ruining the economy,, and his audience ate it up,, that was just before the housing market crashed, which was due to rising food and gas prices that were driven by executive ordered rules changes in the commodities trading markets which made it so working class people had to chose between paying mortgages or surviving,, and don;t even try to say it was Democrats who forced banks to lend money for houses to people who could not afford them, again, changes to over the counter derivatives market rules sent banks on the rampage to dump as much worthless money into the economy as possible knowing full well that the government would have to bail them out when it crashed, a plan Bush played a central role in to stop Democrats from raising the minimum wage to a living wage of $11 an hour,, this was so low level employees could qualify for home loans,, in order to get Democrats to drop the idea, Bush told them banks were going to use a new gimmick that allowed lending money to anyone without fear of losing money, they said they were going to take the risk out of lending using over the counter derivatives, which in theory works unless the whole economy crashes at once,, this was in 2001,, in 2000, Clinton signed Commodity Futures Modernization Act of 2000, which also changed the rules so banks could speculate in the commodities markets without a ceiling,, ceilings used to keep prices from becoming unrealistically high on speculators,, in the summer of 08, as right wingers were already starting to blame the crash that was coming on the mere prospect of Obama getting elected, gas went over $4 a gallon, workers could no longer make mortgage payments and the whole house of cards collapsed for everyone except banks who knew from the beginning they would get bailed out or the worlds economy would have ceased to exist the right has been blaming the left for what Bush did to the economy ever since, much of which was done by executive order behind our backs,, I dont like Obama, hes a piece of shit just like Bush, but at least hes saying what he will do before he does it thereby giving the right a chance to work it out first, I mean the whole thing comes down to so called conservatives protecting the people who are screwing the economy through financial gimmicks on Wall Street, crooks who dont want to pay workers enough money to survive because theyre putting that money in their own pockets while telling disgruntled employees if they work hard enough, one day they could become the guy who steals everyone elses paychecks for themselves, they say thats what makes this country great, everyone has a fair shot at being a winner, everyone is entitled to their shot at the American Dream, although not everyone will make it while having a job is not enough to enter the “dream” at a ground floor level, but hey, at least you get to try unlike other countries where if youre at the bottom, thats where you stay, which is not even true
Posted on: Wed, 29 Jan 2014 18:11:17 +0000
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