The Mudcat Café TM
Thread #136420   Message #3179392
Posted By: pdq
30-Jun-11 - 08:11 PM
Thread Name: BS: 2012 Presidential Election
Subject: RE: BS: 2012 Presidential Election
"...the GOP is largely responsible for the entire fiscal mess [sic] depression that is ravaging the entire economy and the country." ~ Justa Picker

Sorry, to tell you this, but the current Depression was caused entirely by the collapse in value of residential real estate.

In my county, single-family homes are worth 30ยข on the dollar when compared to prices in June of 2006. Yes, a $250,000 house back then can be bought today for $75,000.

People were taking out second mortgages and buying cars and boats and basically living the good life. Now, millions realize that they may never have a good job again. Many have given up and thrown themselves on the social services net and don't plan to try again. Next phase for them is Social Security.

We have peeked as a nation. Within about three years our economy will fall to second place behind China.

When the people realize that it is as good now as it will ever be, Obama will win because he will offer more social services to more people and claim that the GOP will take them away. The plan is old but it works.