We're all socialist now!

iVillage Member
Registered: 11-03-2004
We're all socialist now!
13
Wed, 09-24-2008 - 12:38pm
Now that every taxpayer is being asked to bail out wall street, I guess we're all socialists now....


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iVillage Member
Registered: 02-15-2008
Wed, 09-24-2008 - 4:35pm

Also, when you cite an article from a website called "therightperspective.com", I am not inclined to regard it as anything other than an opinion piece, and until I find further support for the claims I will continue to regard it as such. I could go through line by line and try to find reputable sources for each of the claims, but I don't have time for that right now - maybe later. I could probably send it to my brother and he'd enjoy doing it for me - he's getting his PhD in Economics right now - which doesn't make ME an expert, but at least I know one quasi-expert who can help me sort through some of the economic issues. Anyway, if he'll help me and/or if I have the time to look up some of these "facts", I'll let you know what I find out.


iVillage Member
Registered: 03-19-2003
Wed, 09-24-2008 - 4:36pm
This was a necessary evil.
iVillage Member
Registered: 07-23-2008
Wed, 09-24-2008 - 4:53pm

Ok - here goes. Btw, I am spending WAY too much time on this board today LOL! Anyway, I just sent the article to my brother and this is what he says about it. I'll just post the entire chat sequence b/c I have to get back to work! Btw these are his opinions not mine. I still have not done my own fact-checking here, but I do respect his opinion on the surface seeing as he knows a lot more about this stuff than I do. Also he couldn't talk to me for very long b/c he had to go to class. I hope this isn't too hard to read! I tried to make it as readable as I could in a short amt of time. Also - he does concede that the repeal of the Glass-Stegal act was part of the problem, but he also points out that once Bush got into office with a republican majority, he could have easily fixed it.

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me: hey - do you have a minute to fact-check something for me? http://therightperspective.com/wordpress/?p=80 I realize it's from a biased source, but some woman on my "mommy message board" tried to post it as fact

wesman999999: ok

me: I just want to find out how much is true

wesman999999: in this article?

me: yes

wesman999999: ok, let me read it

me: thx

wesman999999: yeah this is bullsh!t
first of all, the 93 tax height set the stage for the boom of the 90s
b/c Robert Rubin is a genius
secondly, 11 years or Reagan recovery, please..
more than half of his administration was a recession
and Bush Sr. took the Blame for REagans sh!t which is why he lost re election
b/c he new we needed "new" taxes to save the economy, go gogod work Bush
secondly
anytime you are president for 8 years the stock market will grow a sh!tton
4,000 points after 9/11 is not that big of a deal
as for the repeal of the Glass-Stegal act, that did make it possible for Banks and Investment Banks to combine which was some of the trouble

me: ok - that's what I thought - I just don't know enough about economics to sort out all the claims

wesman999999: but that was the end of his term, and if Bush wanted such regulation with a HUGE republican majority, why didn't they do it
yeah man, Clintons 93 tax increases were brilliant
everyone siad he was stupid
and...Clinton can't help what Greenspan does - he doen'st have any control over that

me: right - so what can I say to this woman?

wesman999999: well you can say it takes shorter than 15 years for tax increases to f@ck up the economy - come on





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