so.... anyone voting for Mit Romney?

[tbwilsonky]

I don't see an economic fix (multiple debt bubbles at various scales + entitlement traps) so i'm voting for gay rights. at least we can get one thing right before the whole thing goes up in flames.

[toad857]

Is it time to bring up Ron Paul yet?

[LK Day]

http://townhall.com/columnists/frankjfl ... of_america

[pigsteak]

the blathering libs on here sound just like the neo cons four years ago..

[tbwilsonky]

the blathering libs on here sound just like the neo cons four years ago..

scintillating critique.

when the book offers start flooding your inbox, DO NOT take the first one piggy; you're going to want to sort through the distribution details first.

[Spikeddem]

I don't see an economic fix (multiple debt bubbles at various scales + entitlement traps) so i'm voting for gay rights. at least we can get one thing right before the whole thing goes up in flames.

I agree with all of this sentiment. The issues that resulted in the 2008 collapse don't have their roots in Bush's presidency, they have their roots in problems that started decades ago.

At a fairly simplified level, this is my understanding of what happened:

Policies/legislation encouraged the spreading of the American Dream even to those that were not able to afford it (or very much of it). These policies relaxed lending standards, increasing the availability of credit. With easier credit, there was more demand for homes, which allows for appreciation in the value of a home over time. This appreciation creates an environment in which these loans are considered less risky because in the case of a default, the borrower (or lender) can sell the investment easily. Now, we retrospectively know that these loans were risky (let's say, "C" grade, on an A-D scale where A=minimal risk and D=very likely to default), but these loans were grouped together and offered by a bank (Bank A) to other banks (B,C, D, etc.) rated as A- investments. The new banks (B,C) investing in these A- investments have no idea that the group of loans is actually much riskier than advertised. This makes the issue systemic throughout the world's economy. If you gave your money to Bank B, they do like all banks do and invest it. They buy Bank A's package expecting that the investment was a VERY safe place to lend money. As long as no players change what they're doing, things may be generally self-perpetuating.

At some point, bankers may start to suspect that loans labeled A- (safe investment) may have more C-like (risky investment) qualities. On this realization, they become stricter with lending. Whoops. Stricter lending means less competition for homes, which causes the houses to depreciate. This means banks cannot recuperate their money. Now when the higher risk lenders do not pay their loans to Bank A, Bank A cannot pay Bank B, and Bank B does not have money to give you. Shucks.

In my opinion, something that takes decades to build up like that will likely take longer than a single 4-year term.

[Jeff]

Oh yeah, another reason to vote Romney. You believe in magic underwear.

[pigsteak]

spike....the relaxed lending standards were/are a huge reason.

and jeff, those underwear and my stinky feet will make a great 1-2 punch...

tb, here is my point....4 years ago, neocons were afraid of what would happen if the muslim black guy got in power. he wasnt US born. he was gonna talk to our enemies instead of killing them. he was gonna reverse all of that hard work in iraq(cough cough). and he was gonna release all of gitmo onto the streets of NYC.....

now, Romney is gonna set us back decades, if not centuries. he's gonna make us all mormon. thousands more women will get alley abortions. gay bashing will reach all time highs. millionaires are gonna put more of us in the poor house.

it is all laughable. the world is NEVER, I repeat NEVER so extreme. but it makes for great sound bites. apparently none of you have any idea how three branches of govt work in tandem or the role of checks and balances. it will not matter much at all which party takes the white house, so get the sand out of your panties and take a deep breath.

[Crankmas]

Voting for Romney, definately...

[toad857]

Voting for Obama, definitely...