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And yet they were doing fine before they joined the EU. Go figure.
Nosiree! They were not doing fine; they were kicking the can down the road exactly as the U.S. has been doing, funding entitlements by borrowing.
It merely took the chicanery of bad banking practices to kick the lodgepole out from under. That trigger was pulled here on this continent but the bullet found it's first mark waaaay over there.
Be patient, wait for the ricochet; it ain't far off now.
Italy was doing fine before 1952? What would constitute doing poorly then?
Those countries joined the EU 25-60 years ago. Why was America doing fine 25 years ago? 60 years ago? Lots of countries in the EU are still doing OK. They happen not to be the countries running huge deficits. Thats probably a more important point than what they were doing half a century ago.
Also Italy was a WW2 werck when it joined. Greece, Spain and Portugal were a decade out of dictatorships. Ireland was the "sick man of Europe" By what possible measure were any of them doing "fine"!?
You are referring to the older EEC, which is not the same as EU. I remember the talks in Europe about the formation of the new EU, and the main concern in the north was Spain, Italy and Greece. For example Spain, had unemployment well over 20% and a long history of economic problems. They knew these countries woudl become a burden, and they were right.
But yes. most countries in EU are doing fairly well.
There are a few things we can count on if Romney is elected. War with Iran. Less taxes on the wealthiest citizens. Reduction and/or the elimination of social services, an attack on Social Security and Medicare, more taxes on the middle class, just to name a few. Romney will create jobs in China, India, and other countries.
Romney has not put one plan forth to the public. Romney has only attacked a sitting president who inherited the worst financial America burdened with two unfunded wars thanks to GW Bush. For all those Romeny backers, please tell us how he will save the nation.
By looting whatever is left of middle class wealth and investing the money in China. This will serve to save the Romnyite Nation from any threat from an aspiring lower class.
How come the net worth of the average American dropped 40% over the last three years under Obama. I would say what better reason to vote for Romney.
Duh, nice try, but anyone with a brain knows that the decline in net worth occurred when the housing bubble burst DURING BUSH'S GREAT RECESSION. You should come out of the wingnut echo chamber of yours and see if you can find what left of your brain.
Duh, nice try, but anyone with a brain knows that the decline in net worth occurred when the housing bubble burst DURING BUSH'S GREAT RECESSION. You should come out of the wingnut echo chamber of yours and see if you can find what left of your brain.
Ahhh, the false dichotomoy! You brainwashed left wingers want to pin the economy on the housing buble and attribute it to Bush but forget that Bush is the one who called for oversight on Fannie & Freddie and we rebuffed by the Democrats. The corruption of that party knows no bounds and it is very evident that the Dems, their ridiculous CRA and forced lending tactics were responsible for the bubble as well as the burst.
Duh, nice try, but anyone with a brain knows that the decline in net worth occurred when the housing bubble burst DURING BUSH'S GREAT RECESSION. You should come out of the wingnut echo chamber of yours and see if you can find what left of your brain.
Ahhh, the false dichotomoy! You brainwashed left wingers want to pin the economy on the housing buble and attribute it to Bush but forget that Bush is the one who called for oversight on Fannie & Freddie and we rebuffed by the Democrats. The corruption of that party knows no bounds and it is very evident that the Dems, their ridiculous CRA and forced lending tactics were responsible for the bubble as well as the burst.
Perhaps you should check yours and see if its still there. DUH!
Duh, why did the market crash? Check your fact, what was the beginning year of that 40% drop? Who was prez when the bottom fell out?
Quote:
Originally Posted by BigHouse9
Ahhh, the false dichotomoy! You brainwashed left wingers want to pin the economy on the housing buble and attribute it to Bush but forget that Bush is the one who called for oversight on Fannie & Freddie and we rebuffed by the Democrats. The corruption of that party knows no bounds and it is very evident that the Dems, their ridiculous CRA and forced lending tactics were responsible for the bubble as well as the burst.
Simply laughable!!
Sure, as if we're supposed to forget that bush pushed thru his "American Dream Act" that encouraged zero down payment mortgages largely targeted at minorities. I guess we should forget that bush's SEC lowered capitalization rate three fold. Oversight of the Mac's wasn't the problem, it was giving to much control of mortgage approval to originators instead of firms like fannie and Freddie.
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