The Democratic Debacle -- and What It Means

I agree. What is happening in the global economy means a lowering of standards for the U.S. We need manufacturing here in our country now. Build infrastructure. Bridges are collapsing and we sit by and watch as multi-national corporations milk our wealth out of our country. That is a big problem. Unlimited political contributions from corporations owned by the Chinese government scares me. We sit by and do nothing, then complain. That Supreme Court decision was the second worst decision they ever made. The worst one they made was an illegal, corrupt decision in the first place.

Democrats and republican loyalties aside; Congress should rethink NAFTA. This bill has cost the USA more in jobs lost, industries lost and ultimstely taxes and revenues lost. As Americans we've forgotten that there's nothing wrong with working for a living. Allowing some of our largest companies to bring their manufacturing and distribution centers out of the country has damaged this economy as much as the sub prime loans. The solution is simple repeal NAFTA and demand that the banks put the stimulus money to work for what it was intended. Any company manufacturing parts outside of the USA should pay very large tariffs for the parts made overseas and installed in American products and let the chips fall where they may. If Ford and GM didn't manufacture parts in Mexico or China would their drug cartels be more brutal?

How soon we forget,Clinton took office with a $4.7 trillion national debt and paid it off before GW took office. 12 years of GOP congressional and senate controll 1994-2006 along with 8 years of GWB and what do you get? Almost a depression, but definately a great recession! During the 20s we had 3 consecutive republican presidents (Harding, Coolidge, and Hoover.)that used the Reagan trickle down formula too. They lowered taxes to the top 1% wealthiest taxpayers ($160 million ), eliminated many regulations, allowed monopolys to be formed, showed their greed by opposing child labor laws and other blue collar laws.Nothing prevented the recession of August 1929, unemployement at 26% and the October stock crash.Hoover passsed the Smoot/Hawely Tarrif on Europe caused a trade war, hence the great depression! Democratic president Roosevelt and WWII brought this country out of the depression and it was not until the early fifties did stocks ever rebound! "Corporations learned a hard lesson from WWII", if it had not been for the working class Americans and brave soldiers during the war working as a team to victory,there would have been "no more corporations"! During the fifties and early sixties, the corporate elite paid their 60-70% income taxes, fair wages and benefits, born was the upper middleclass America! Hopefully "we the people" can turn this recession around for the corporate elite one more time!

Why would the Democrats even think of "rewarding" Nancy Pelosi as head of the Minority leader of the House when she helped orchestrate one of the worst maulings the Democrats have had in over fifty decades. Go figure. I guess she would miss the trappings of power and the chauffered limos, mingling with the rich and famous, photo opportunities with her picture plastered all over the media, etc. Power is very seductive, especially in Washington.

Political saying...As Ohio goes, so goes the nation. Obama understood this and visited Ohio 12 times during campaigning. Guess what....OHIO WENT RED! Yeah! If not for the fact Betty Sutton(Democrat) was running against a car saleman, Ganley(Republican), she would have been out on her butt too! Watch it Betty, because we are watching you! YEAH FOR OHIO!!!!!

Has anyone bothered to notice that the states in the worst financial state are those in which the Democrat Party has enjoyed a stranglehold for years? The voters have and 16, a record, just switched their legislatures to the GOP. Dems now hold only 17 governorships. The people have awakened save for the elites of Cal, NY, Mass, Ore, Col, Vt, Ilinois, etc....Good luck to those states' taxpayers...lol

Maybe now, Obama will look at himself and his Dem friends instead of always blaming Bush and any other name he can remember. Bush ran the country the best he could with all the Dem's around to muddy the water. We need to watch every dime we spend. Do Term Limits. Get rid of the polititions 'be rich for life when they leave office with their retirement salary'. Make their health care like ours. Get rid of them when they don't do the job the way we want, and not have to wait for an election period. Print every thing Nationally BEFORE it is law and make every man and woman in office READ the whole thing. NO MORE CLOSED DOORS, Lets have an open government. Stop spending money for travel on Air Force One every day, AND FOR GOD'S SAKE, AND OURS, GET RID OF PELOSI'S AIRPLANE. also STOP hiding the theft FRANK AND WATERS seem to have done. Stop waiting, keeping them in office, when they should be gone NOW.

We're only finding that both the Democrats and the Republicans do the distribution of wealth either up or down. That seems to be the only difference. But in the end, we always seem to forget what we learned from "Deep Throat" during the Watergate scandal. If you want to know who is in charge and who is pulling the strings "Follow the Money." In this case, it's Wall Street, the large banks and the Federal Reserve. Democrats and Republicans are only smoke and mirrors while the voters are pawns in their big game of money and control.

The economy is in worse shape than in 2008-2009, which is one reason for the current round of quantitative easing, and the additional 390$ Billion dollars given to Fannie and Freddie before the election. The dollar has already fallen 20% and is projected to fall another 20% in the next 2 months as a result of FED monetary policy. The median home price is also expected to fall. The inspector general of the TARP says that the government is lying when they claim it made a profit, since they changed their accounting standards. Banks took a loss this quarter, but called it a profit by tapping into their emergency loan funds. This was in anticipation of quantitative easing. There is a currency war going on among major economies worldwide, with the G20 meeting to stop it generally being regarded as a failure. Because state pensions are so heavily invested in bundled Mortgage Backed Securities, there is currently a $268 billion dollar shortfall in State and local pension funds. Add to this the decline in home values, where 25 million homes are underwater, and 7,000,000 homes are slated for foreclosure this year alone. Declining home values also depress local governments due to a drop in property tax revenues. As if this werent enough, we used direct currency swaps to help backstop the European economy during their recent banking crisis, and while the exchange rate is nominally fixed, there is no guarantee on what the ECB will do in the likely event of Greek, Irish, and Spanish defaults. Both the low end and high end bond rates are being artificially clamped downward by the FED, resulting in massive capital distortions that consequently divert capital from money markets and stocks. The underemployment rate is more than 18%, similar to what we had during the great depression. Now we add an unfunded health care bill with massive deficits and new requirements on employers. We already have large employers like Boeing dropping healthcare coverage, and other companies being granted waivers out of political embarrassment. Nationwide there have been massive increases in premiums on most health care plans, including my own. This in turn is depressing hiring and spending on everything from retail sales to software. As president Obama himself admitted, the actual potential losses from credit swap derivatives are around $600 Trillion worldwide, and that's the real reason why despite backstopping more than $25 trillion dollars, the economy is still in trouble. Anyone hoping that the economy will make a comeback by 2012 is going to be disappointed. This is more of a 10-20 year sort of problem than a 2 year problem. Politically, this means that in 2012 you can expect conditions very similar to what we have now, and since the Democrats have 23 seats up in the Senate to the Republicans 10, most likely the Senate will go Republican.

The Dems will not see the White House again until 2020.....and even THAT is a huge MAYBE. They really jumped the shark this time. Nixon coined "The Silent Majority." We are still out here and I can promise....we see through the CLOWNS at MSNBC. I know Bachmann certainly did the other night with Chris Matthews......she showed him the respect he deserved.....NONE.