Comments on: U.S. Fears Keep World Markets Plunging

Record Declines On Some Key Indexes, Widespread Fear Of Global Recession

[extremophil]

Well well well, whadaya know. The whole world relies on the U.S. Economy. Well well well.

[alphaa10-2009]

In some dark corner, *** Cheney remembers how he arrogantly lectured the US Secretary of the Treasury, Paul O''Neill, "Reagan proved deficits don''t matter."

Not surprisingly, Bush economic policy closely paralleled Cheney''s advice to O''Neill-- spend as you please, but leave the bill to the next president. Run up bills with no thought of how to pay them, and rationalize everything is "enlightened" economic policy, nurturing a healthy demand.

But whistling past an economic graveyard never has worked. As the housing bubble grew, people like Paul Krugman (MIT economist) warned early there would come a day of reckoning. Under the pressure of so many misplaced expectations, the bubble finally burst-- not under the stress of too much investor interest-- but from the rampant greed of large mortgagers willing to mix good risk with bad, and lie about it.

Contrary to Cheney''s crystal ball, deficit spending (and the national debt, in particular) are exactly what they seem-- an economic burden which remains a burden until paid. In contrast, Bush and Cheney''s prescription is to treat the US economy like a credit card, and try not to look as the monthly installments balloon.

In effect, Bush and Cheney have "sub-primed" the American economy!

[nolalou]

bm6005 said "Close all law schools and MBA programs for being unAmerican!!! "

A statement like that is a prime example of letting panic control the argument! They shouldn''t let idiots like you vote, except that too would be unAmerican!

[stevex47]

If we can just hold out till W is out of office, the whole world will rejoice and rebound when W is out.

How does the song go?...Ding Dong the King is gone !

[sadburton]

THIS CANNOT BE BLAMED ON ONE PERSON OR ONE PARTY. WHAT HAS HAPPENED IS AMERICA SOLD OUT. IT DIDN''T HAPPEN OVERNITE, IT TOOK OVER 200 YEARS TO GET TO THIS POINT. AMERICANS BECAME GREEDY, AND EVENTUALLY, WE PUT A PRICE ON EVERYTHING THAT MEANT ANYTHING TO US. AND NOW THAT THE MONEY IS GONE AND THE PRICE IS TOO HIGH, WE POINT FINGERS AND PLAY THE BLAME GAME. MAY GOD HAVE MERCY ON US ONCE MORE.

[bm6005]

1/20/09 cannot come soon enough!! We need to vote out ever single incumbent for causing this s hit to happen. Now don''t try and give me a lecture on "events beyond our control". Our gov''t has done everything it can to turn us into a third world country. They make laws which reward companies for sending our jobs overseas, they make laws which allow companies that claim to be American and are actually off shore entities while they benefit from American gov''t protection while paying no taxes.. Close all law schools and MBA programs for being unAmerican!!!

[bm6005]

1/20/09 cannot come soon enough!! We need to vote out ever single incumbent for causing this *** to happen. Now don''t try and give me a lecture on "events beyond our control". Our gov''t has done everything it can to turn us into a third world country. They make laws which reward companies for sending our jobs overseas, they make laws which allow companies that claim to be American and are actually off shore entities while they benefit from American gov''t protection while paying no taxes.. Close all law schools and MBA programs for being unAmerican!!!

[alphaa10-2009]

krenz4 said, "I think that since you are so avidly anticipating the downfall of this country, I suggest that you stop sucking at it''s teat, and take yourself somewhere else."
---
While sucking so enthusiastically, yourself, you missed the point, entirely. Again, (1) no American can ignore the incompetence of Bush in the face of his own debacle (2) no American should spare any Bush booster or GOP politician responsibility for the mess they helped Bush create over the past seven plus years.

Any loyal American has the same message for you-- stop wrapping yourself hypocritically in the flag you helped Bush desecrate, stop lying about what a loyal patriot you claim to be, when you and your ilk helped Bush break the laws, defy the Constitution and drive the country into ruin.

You ought to take your own advice-- following the example of Bush-leaning corporate multinationals which offshore American jobs-- and skulk off to any foreign land which will take you and your devalued US currency.

Bush, the antipatriot-- In November, 2005, in Washington, DC, Bush, facing an assembly of his own party members critical of his NSA spying program, bristled like a teenager caught drinking after curfew-- "Stop throwing the Constitution in my face! It just a GD)((#@*! piece of paper!"

Is this figure, who claims to be president of the United States, the same who pledged an oath to "protect, preserve and defend" the document he calls a "GD)((#@*! piece of paper"?

[slpdisk]

I have a better headline ,"Corporate Media instills fear in Americans with War and Recession Propaganda,while Federal Reserve smiles, knowing they manipulated the whole hysteria!"

[krenz4]

Noloyalist, I see you refer to ''we" in your post when speaking of America. I think that since you are so avidly anticipating the downfall of this country, I suggest that you stop sucking at it''s teat, and take yourself somewhere else. I see that you chose America to live off of. Maybe you should seek your fortune in some place more suitable for someone like you. As far as ''taking it down'' like you suggested, the rest of the world is having problems because they have been riding on our coattails for so long, they cannot stand alone. What will happen to the rest of the world when America can no longer prop them up? They better pray that the American economy does what it always does and recovers.