Treasury Secretary Paulson LIED About Economy

all that flapping you did last week and the stocks ended up 40 points lower than at the start of the week.

the feds have rescued those mortgage companies.

the economy is growing by leaps and you want to focus on just one little problem.

which by the way wasn't a problem until some idiot bank in France said it was.

that's right the hit on wall street was started by a bank in France.

the run on the banks at the start of the great depression started the same way.


some bank teller was letting his boss know that they had run out of cash. and he would need to get some more. but the customers heard him say that they were out of money. and that got out to the whole country.

Reply By: danielost Posted: Sunday, August 19, 2007
"all that flapping you did last week and the stocks ended up 40 points lower than at the start of the week. "


Stocks are down almost 10% in a month!

"the feds have rescued those mortgage companies."


THAT IS A LIE!!!!!!!!! The 14 Million mortgages are just as much in danger as they were before the Fed lowered the Interest rate. Countrywide Is just as close to bankruptcy as befor the Fed Rate Cut. The Rate cut was to calm the markets from what is a fundamental problem.


"which by the way wasn't a problem until some idiot bank in France said it was.

that's right the hit on wall street was started by a bank in France."

The issue is the basic inability of many Americans to meet their Mortgage payments not the bank in France. That Bank in France is not the reason 14 Million U.S. Mortgages are in trouble or that many of the largest mortgage companies are close to bankruptcy.


Reply By: danielost Posted: Sunday, August 19, 2007
the run on the banks at the start of the great depression started the same way.


Yes something as significant as 14 Million Mortgages in trouble and the fact that personnel credit card debt is so high is a REAL danger to trigger a much wider financial problem. However Treasury Secretary Paulson says everything is just GREAT! WHAT A LINE OF BS!!!!!

CNN just played a Clip of Bush telling us how great the economy was and sights that since 2001 the economy grew by $1.9 Trillion. At the same time we added more then $3 Trillion in new debt. That is a NET LOSS Mr. MBA President!

Another obsessive Bush article.  Personal debt is just that....PERSONAL RESPONSIBILITY!




Still quoting that nonsense, huh?



http://www.factcheck.org

The New jobs on the average pay 30% less with fewer benefits. That was proven by the studies U.S. Metro Economies for the U.S. Conference of Mayors.

I did not say the record personal debt was the fault of Bush but it is part of the economic weakness that the Bush administration fails to acknowledge.

a week ago sunday some bank in france said that they couldn't covor their mortgages that they had loaned out. monday the stock market took its first hit.

Reply By: danielost Posted: Sunday, August 19, 2007
“A week ago Sunday some bank in France said that they couldn't cover their mortgages that they had loaned out. Monday the stock market took its first hit.”


That is true but the problem is that almost a million homeowners have defaulted on their mortgage payments and 14 Million more are in trouble. In addition several large mortgage companies in the U.S. are either bankrupt or close to going bankrupt. That has NOTHING to do with the French bank!

And we have pointed out years ago that this outdated "study" is not accurate.  The economy isn't perfect by any means, but it's nowhere near the type of gloom and doom scenarios you and the democrats try to present. I love how the market goes down and you are whining about that, but I didn't see you comment when it went to record levels.


 

I seriously believe that you don't read a single thing that is posted to you.  This mortgage situation has already been explained in another thread, but you just don't understand anything unless you can somehow attribute it to Bush.

Reply By: Island Dog Posted: Sunday, August 19, 2007
The New jobs on the average pay 30% less with fewer benefits. That was proven by the studies U.S. Metro Economies for the U.S. Conference of Mayors.


And we have pointed out years ago that this outdated "study" is not accurate.


YOU HAVE DONE NOTHING OF THE KIND!!!!!!!!!!!

“I seriously believe that you don't read a single thing that is posted to you. This mortgage situation has already been explained in another thread, but you just don't understand anything unless you can somehow attribute it to Bush.”

The mortgage issue is real and the bankruptcies of U.S. Mortgage companies have taken place. Millions of mortgages are in danger of going into default, real estate prices are falling and the inventory of unsold homes is increasing. Personnel Debt is at an all time high. Retail sales are in trouble. The Stock Market has dropped about 10% in the past 30 days. NOTHING about that is a GOOD Economy as Paulson and Bush claim! The only people that will make out are the very wealthy that will buy up the homes when little people loose them for not being able to pay their mortgage payments!

Industry Wages have Increased by 15.8 Percent in the United States


Reported by the Bureau of Labor Statistics, the non-adjusted wages have increased by 15.8 percent from the 2nd quarter of 2001 to the 2nd quarter of 2006. The average in 2001 was $34,755 and in 2006 the average was up to $40,259.


WWW Link


and another lie brought to you be gene. not only has the average wage not gone down but it has gone up by 15%

Reply By: danielost Posted: Sunday, August 19, 2007
Industry Wages have increased by 15.8 Percent in the United States


Reported by the Bureau of Labor Statistics, the non-adjusted wages have increased by 15.8 percent from the 2nd quarter of 2001 to the 2nd quarter of 2006. The average in 2001 was $34,755 and in 2006 the average was up to $40,259.

When you adjust that for inflation which you data has not done, Per the BLS web site:

CPI INCREASES:

2001 1.6%
2002 2.4
2003 1.9
2004 3.3
2005 3.4
2006 2.5
2007 2.5

Total 17.6%

As I said, after inflation average wages are DOWN about 2% since Bush took office.

Then it's true you don't read anything posted to you. 




Where were you when the market was at record levels?  I notice when the market and the economy does something good, you seem to keep quiet about it.  You traffic in gloom and doom.

“Where were you when the market was at record levels? I notice when the market and the economy does something good, you seem to keep quiet about it. You traffic in gloom and doom.”

I was saying that Stock Market Boom only helped about 10% of Americans who own 90% of the stocks!

The stock market increase that Bush uses to show how great the economy is (for the wealthy) is now gone. I also clearly showed that you statement that Average Wages are UP is not correct. In addition the impact on the average family of those elements that have increased over the past 7 years is MORE then the 17.5%. Many of the items in the CPI do not impact the majority of Americans from month to month. However the items that increased like gasoline, heating oil, food, clothing, health care and insurances impact everyone and if you looked at the % increase of those items it would be far more then the overall 17.5% increase in the CPI! The low and most middle income Americans are WORSE off today then in January 2001. Only the wealthy and a few of Middle income Americans are better off under this great Bush Economic Boom!

No you didn't.   You showed an outdated report from a mayor conference which has since been shown to be incorrect several times over here, but since it doesn't fit your agenda you don't recognize it.




LOL.  Once again you blame someones personal financial situation on Bush and the federal government.  I bet only the democrats and their tax increases will be able to "save" the poor from your sky is falling nonsense, right gene?  The economy for all purposes is strong, but leave it to you to follow the DNC talking points and blame someone irresponsibility to manage their income on Bush.  Well done gene!

“No you didn't. You showed an outdated report from a mayor conference which has since been shown to be incorrect several times over here, but since it doesn't fit your agenda you don't recognize it.”

No you showed that average weekly wages were up 15.5% I showed that during that same time CPI was up 17.5% Thus the average weekly wage AFTER inflation shows a 2 % loss and because of the items the increases the impact is even greater then that on most workers!

Most Americans are not better off because of the so called Bush economic Boom!



. Once again you blame someones personal financial situation on Bush and the federal government. I bet only the democrats and their tax increases will be able to "save" the poor from your sky is falling nonsense, right gene? The economy for all purposes is strong, but leave it to you to follow the DNC talking points and blame someone irresponsibility to manage their income on Bush. Well done gene!

The issue is that the statements made by the Treasury Secretary are NOT correct!

Blah blah blah. The man just doesn't stop does he? It's one thing to try to convince someone of the opposite but to prove it and they ignore it only to come back another day and say you never said anything is just plain ridiculous. If this is the kind of mentality Liberals will have when running the country we are definitely out of options for a decent Gov't. As Bernard Goldberg's book says "Crazies to the left of me, Wimps to the right" and also " How one side lost it's mind and the other side lost it's nerve". We all know where Col fits in.

LOL.  I never rely on the government to dictate how much money I make.  Once again it comes back to you blaming the government for your own financial situation.  What would you do if you didn't have Bush to blame this nonsene on?

“. I never rely on the government to dictate how much money I make.”

The truth is that the policies of the government do have an impact of the type of jobs that are available and the tax policies and fiscal policies do impact people. The policies we have been following tilt toward the wealthy and business as opposed to the low and middle income working person!

you have been saying 30% not 2%.

you can't lose something if you never had it.

Here's a short "straight from the horses mouth" extension for you Col. I started working for this company in the mailroom a little over a year ago, I believe it's the #1 construction materials company in the US. Today I work in the Accounting Dept, I have accomplished in a little over 12 months what many others take years to acquire. I don't know what jobs you claim are the ones that don't exist, currently there were 3 job opening here, all filled within a few weeks. All paying decent salaries, including mine. You may want to look at the reality of the world thru your own eyes instead of looking at someones statistics, even if they are from the Gov't. Especially when you claim the Gov't and it's people to be liars on day and being right the next.

Consider it lost on delivery, after all, I have to believe God had intentions of giving everyone a brain. That the people got it is another story. if it was delivered by UPS then it was damaged upon delivery.

Once again, it's up the individual in this country, not the government.  If you can't make it at your present job, then you need to find a way to find another job, or supplement your income another way.  Your solution is to complain about the government, and complain about people who have made the choices in their life to better themselves.

Yeah, tax the busiensses, and tax the business owners in this country, that sure will help the "poor" people you falsely claim to care so much about.