Roubini’s Grim Forecast
It isn’t anything we don’t already know, but, the NY Times reports,
Roubini argues that most of the losses from this bad debt have yet to be written off, and the toll from bad commercial real estate loans alone may help send hundreds of local banks into the arms of the Federal Deposit Insurance Corporation. “A good third of the regional banks won’t make it,” he predicted. In turn, these bailouts will add hundreds of billions of dollars to an already gargantuan federal debt, and someone, somewhere, is going to have to finance that debt, along with all the other debt accumulated by consumers and corporations. “Our biggest financiers are China, Russia and the gulf states,” Roubini noted. “These are rivals, not allies.”
The United States, Roubini went on, will likely muddle through the crisis but will emerge from it a different nation, with a different place in the world. “Once you run current-account deficits, you depend on the kindness of strangers,” he said, pausing to let out a resigned sigh. “This might be the beginning of the end of the American empire.”
Isn’t it only a matter of time before we face at least galloping inflation from the conditions we have created? When we talk about impeaching Bush, Republicans roll their eyes like we are far-Leftists. But one day they will wish they had done just that. They will wish they had removed this maniac while he was still in office, in order to escape being tarnished by the horrific damage he did to this country for decades to come.
14 comments
You cant just impeach someone because you don’t like them. Just like you DK to ignore the law. There were no “high crimes and misdeameanors” that would allow for the impeachment.
I also love that people call Bush the worst President in history when we are not that far removed from Jimmy Carter, but even he probably isn’t the worst. Look back in history and read most publications during and leading up to the Civil War. A lot of similar language was used concerning Lincoln, and how do we feel about him now?
History will look back on Bush quite kindly after the leftists such as yourself are proved wrong. Just like you were with Lincoln and Reagan, two of the greatest presidents in history
History will look back on Bush quite kindly after the leftists such as yourself are proved wrong.
That is just about the most ridiculous statement I have ever heard, and I’ve heard a shitload. Even die-hard Republicans are embarrassed and disgusted by the antics of this man and his puppet master. To even attempt to compare this cretin with Carter (like him or hate him) is simply beyond a joke.
I’m not sure that impeachment would have been in the country’s best interests; however, regarding the issue of whether or not Bush’s actions are just grounds for it, Vince Bugliosi would disagree with you. He’s already stated, publicly, his intention to prosecute Bush for murder: http://www.c-spanarchives.org/.....d=202621-1
(By the way, DK - apparently, you’re a leftist now. Meetings are every other Thursday. Bring chips.)
OMG VINCE BUGLIOSI!!! Care to bring up any more crazy’s who have no real credability in the real world (outside their little lefty boxes) and have no idea what they are talking about? How about Pulosi or Kennedy (speaking of prosecuting someone for murder).
Jimbo, off-topic, but may I ask what your mother tongue is?
(Progressive, passively conservative European liberals with a social and ecological conscience on Wednesday nights my place; we serve pseudo-Chinese and pseudo-Italian food and laugh at the $ vs Euro exchange rate for dessert.)
english?
I was wondering as above you’d used “proved” as the Past Participle of “prove”, which is preferred in Britain as opposed to “proven”, which is preferred in American English. Also, you used the Genitive Singular case in place of where the Accusative Plural should be. But I take it you’ve been wondering as well, hence the question mark.
Carter looks better and better. And I used to hate the bastard.
Owe a thousand dollars and the bank owns you. Owe a million dollars and you own the bank. China, and Americas’ other creditors have exactly the same problem with us as we have with the banks so it will all work out in the end.
The apoplexy over Bush won’t change the fact that he is no less or more fit for the office than the predecessor who sent the military into every hotspot he cared to as if they were a personal tool of his political gamesmanship at home (a liberal thinking locally and acting globally, wow, what a surprise) and felt there was no problem with cheating on his wife, doing it in the Oval Office, and committing sexual harassment and abuse of office at the same time (for anyone else, using your power as an executive to get sexual favors of a subordinate under your direct control would be considered an act tantamount to rape in the eyes of most liberals).
Democrat, Republican, they’re all politicians and if you delude yourself into thinking that Bush is so much different than the others, well, you deserve the results that you get when you vote.
Don’t delude yourself either into thinking that you can introduce ethics or morality into politics by your voting choices. All voting, all politics is self-serving one way or another. You’re just buying time going with the slower off the mark devil than the faster for the denoument one. Both are going to damn you though, no matter what.
Don’t delude yourself either into thinking that you can introduce ethics or morality into politics by your voting choices.
This isn’t about morality. This is about serving your country and doing your damned job. Nixon was hardly a moral person, but he tried–at least at times — to do a good job, and it showed.
You know, I almost said this after your remark about Carter - I’ve been feeling similarly about Nixon in recent years. Compared to this criminal, he’s looking better and better.
As the rabbi told me, DK - if you live long enough, you see everything.
(I think I’ve seen enough now, thanks.)
Nixon looks amazing in many ways. Whatever his gruesome flaws, he loved this country, and only skirted its law when he succumbed to paranoia, as opposed to the greed and corruption that permeates today’s White House utterly.
Also, despite his gruesome flaws, Nixon was a very talented president. That can go a long way. He simply did a great job in some aspects of his presidency.
I heard him say things in interviews, in the ten-year-or-so period before he died, that were far more level-headed than 99% of what we’ve heard come out of Washington - well, probably during much of your lifetime.
If he hadn’t gotten caught with his hand in the cookie jar, I think we might actually have seen universal health care, among other things. I’ve also heard that he was on the verge of declassifying most of the UFO material - but then we wouldn’t have had the X Files, so it’s a trade-off!
He really wasn’t a well man, though. (Are any of them?)
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