Monday, August 27, 2007

You Can't Sneak Anything Past An Economist

I've been on a Boy Scout camping trip the last few days and just saw a poll reporting that the credit crisis was a graver threat to the economy than terrorism. Huh? Wow, you can't get anything past a bunch of economists can you.
Bad credit has supplanted terrorism as the gravest immediate risk threatening the economy, a key national research group reported Monday.
NABE, a Washington-based association, said 32 percent of its surveyed members cited loan defaults and excessive debt as their biggest near-term concern.
I'm sorry for being for naive, but wouldn't you say that there are a hundred things more threatening to our economy than Islamic terrorists? I would think that hurricanes pose more of a threat.

I think that the country still suffers from the infusion of fear that George W. Bush injected into the national consciousness after 9/11. He used fear for political gain and leverage to use in the run-up to the Iraqi quagmire.

Things will happen, we will be attacked but the effect on the economy will be in direct proportion to how much people cry and whine and act scared. The nation as a whole acted like cowards after 9/11 and it was a national embarrassment. We have been acting like cowards ever since as we have allowed the republicans to trade freedoms for a false sense of security.

Jim Martin

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7 Comments:

Blogger LeftLeaningLady said...

I would agree that there are at least a hundred things more threatening to our country than Islamic terrorists. The #1 thing is leaving the Republicans in charge.

9:56:00 AM  
Blogger Jim Martin said...

Amen, sister, amen.

10:07:00 AM  
Anonymous lester said...

initially, the people suffereing the most were those inside the buble, the lenders and the borrowers. Now that the Fed has pumped billions into the market out of thin air, we are all going to pay for it via inflation.

12:49:00 PM  
Blogger Capt. Fogg said...

My friends in banking have been telling me for a long time that it will take decades - or longer - for the damage the Bush administration has done to the world's economy to be dealt with.

The world has been dealing with terrorists for as long as I can remember and if I'm worried about anything, it's about a pan Islamic war against the US.

1:19:00 PM  
Blogger Jim Martin said...

We've spent a lot of time and money giving terrorism a face and giving it power and status that a group of criminals hardly ever achieve.
Our government needs an enemy to justify it's global goals and if it doesn't have one, it creates one to the desired specs.
Kill the terrorists and expose their supporters even if the Saudi royal family has close ties to prominent U.S. families.
I still haven't figured out exactly why we attacked Iraq when most of the 9/11 terrorists were Saudis and Pakistanis. Well, I actually have figured it out, but you know what I mean.

1:59:00 PM  
Blogger Libby Spencer said...

The more I think about it, the more it feels like a long range Rovian plan. The damage is so deep the Dems won't be able to solve it in one term, probably not two.

The public unfortunately doesn't tend to blame the orginator of the problems, they blame those who hold the power when the problems manifest.

In terms of tactics for someone who wants a 100 year majority, it makes some sense to give up 4-8 years of control in order to gain a scapegoat.

It sure would explain why Bush has apparently been sabotaging the party since 06.

7:46:00 PM  
Anonymous lester said...

"The more I think about it, the more it feels like a long range Rovian plan"

oh brother

1:09:00 PM  

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