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"America just sold another half-trillion dollars of itself to China, all to keep the markets flat for a week in September.
"And this does nothing to halt the actual cause of this financial collapse, the actual decreasing-by-the-day assets sitting on .13-acre exurban lots all over Florida and Michigan and the Southwest, from Dallas to San Francisco and everywhere in between: the single-family stick-and-stucco houses that were sold for double or triple what they were worth, even in good times.
"Today, one-in-ten mortgages is either already in foreclosure or in default, nationwide. Even with foreclosure sales making up half of all purchases in collapsing markets like Southern California, there.s still a record inventory of houses for sale, and a record inventory of vacant homes across the country. And there are more than 9,000 new foreclosures every day."
Welcome Comrades!
To the People's Free Market of America!
A few years ago, a massive government run health care plan was hell on earth - the worst possible thing anyone could dream up. A true nightmare. Well, The Bush administration has now nationalized its deregulated banking and insurance industry, since deregulation was, you know, working out so well and all.
Now I realize that some people reading this may not remember George W. Bush, the President. We have not seen much of him in a while. But you may recall him as the one that wanted to put "your money", the Social Security Trust Fund, into the stock market because the government, he said, wasn't good at managing money.
John McCain is quite open about keeping the same economic and tax policies in place should he be elected. I'm really curious how people feel about that.
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