“The truth is, we and everyone else misread the economy,” confessed Biden - agree or disagree?

[oz in SC]

Why mess around with small potatoes like a trillion..

Lets throw a Gazillion Million Billion Quantillion dollars at the problem.

That would REALLY make things better.

[ViewFromThePeak]

Originally Posted by padcrasher

Everybody but Krugman and a few progresive liberals.

Krugman's predictive record is horrible, especially on calls of massive inflation during the 80's.

Schiff, Faber, Rogers, Schiller, Roubini all predicted this with much better detail than Krugman.

[thefinalsay]

Originally Posted by Who?Me?!

Agree.....misread, unread... hard to find two "experts" who can agree on the cause, predictions, solutions....MANY "misread" what was going to happen except for those who planned it.

would that be the idiotic greedy poor people that got all their unearned stuff on easy credit?

[ViewFromThePeak]

Originally Posted by thefinalsay

would that be the idiotic greedy poor people that got all their unearned stuff on easy credit?

Actually, he's speaking of the evil capitalists that literally had a gun to these poor folks' heads, compelling them to sign the papers.

[Wapasha]

Originally Posted by KRAMERCAT

“The truth is, we and everyone else misread the economy,” confessed Biden.

Raw Story » Biden: ‘We misread how bad the economy was’ (http://rawstory.com/08/news/2009/07/05/biden-we-misread-how-bad-the-economy-was/ - broken link)

They misread how destructive the 0bama administration's meddling would be to the economy and jobs.

Not to worry though, they are going to create a new trillion dollar taxpayer funded health care entitlement program, and create huge carbon cap & trade taxes, mandates and penalties to make things all better.

[thefinalsay]

Originally Posted by ViewFromThePeak

Actually, he's speaking of the evil capitalists that literally had a gun to these poor folks' heads, compelling them to sign the papers.

that's a gun nut for ya.

[oz in SC]

Were the lenders forced to offer this money or were they being altruistic?

[sanrene]

Misread the economy?

Wasn't obama and biden claiming this was the worst economic crisis since the Great Depression?

It is just a flat out lie when they claim they "misread" the economy.

[NorthPoleMarathoner]

Originally Posted by odanny

All I know is the Bush/Cheney cabal left a trainwreck economically that the entire WORLD has felt.

To think this economic tsunami of debt left over from 8 years of malfeasance is going to somehow cure itself is pure fantasy, it requires massive stimulus or we end up with another Depression. We have Herbert Hoover to show us how cutting spending will end up for the country. We have FDR to remind us how investment in America can jump start a recovery. The Depression lasted for a decade, this is not going to be a quick fix.

Herbert Hoover increased spending.

So did Bush.
So did Reagan.
So did Clinton.
So did Kennedy.

Evry year the budget gets bigger. If federal spending improved the economy we would have all gotten rich because of Bush.

The greatest years of economic growth in U.S. history were 1946-1947. Those were the years Truman cut federal spending and rolled back many of Roosevelts and Hoover's oppressive business regulations. But I suppose that was just coincidence.

If federal spending made us economically sound then we should just nationalize every industry in the United States. It's worked wonders in Cuba and North Korea.

You said it yourself. Roosevelt spent money. The depression lasted for a decade. He was some kind of economic genius.