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Ear to the Ground

Carter Kicks Bush While Economy Falls Down

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Posted on Oct 10, 2008
Carter 'Woah'
guardian.co.uk / Barry Batchelor

Former President Carter, who oversaw gross inflation and an energy crisis during his term in office, joined the chorus of folks who saw the deregulation of credit markets as a horrible mistake.

Following the Dow’s 600-point drop, former President Jimmy Carter had some pointed words for the Bush administration on Friday, blaming the current economic crisis on the “atrocious” policies of the past eight years and declaring the economic situation to be an “entrenched problem” that will “take years to correct”.


Reuters:

Former President Jimmy Carter said on Friday the “atrocious economic policies” of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Carter told reporters on a stopover in Brussels that “profligate spending,” massive borrowing and dramatic tax cuts since President George W. Bush took office in 2001 were behind the market turmoil and economic crisis.

“I think it’s because of the atrocious economic policies of the Bush administration,” said the 84-year-old Democrat, who served in the White House from 1977-1981 during a period of high inflation and energy crisis.

Whoever wins next month’s U.S. presidential election would inherit economic problems that would force them to postpone implementing some of their proposed reforms, he said.

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By PatrickHenry, October 13, 2008 at 5:41 pm #

By ReichWing, October 13 at 7:51 am #

“He wrongly believed Americans had an “inordinate fear of communism,” so he lifted travel bans to Cuba , North Vietnam and Cambodia and pardoned
draft evaders.  He also stopped B-1 bomber production and gave away our strategically located Panama Canal”.

Actually your opinion that the nobel prize winning Carter was wrong in his curtailment of neorepublican foreign policy is simply your grossly slanted view and one not shared by the majority of Americans. 

I don’t see anything wrong with anything Carter did, especially in the downsizing of our overly abundant military.  BTW the Panama canal isn’t ours to give.

There hasn’t been a U.S. President as respected in the world since Carter.

Report this

By Gawd, October 13, 2008 at 2:25 pm #
(Unregistered commenter)

RightWing: “On the domestic side, Carter gave us inflation of 15%, the highest
in 34 years; interest rates of 21%, the highest in 115 years; and a
severe energy crisis with lines around the block at gas stations nationwide.”

Exactly how did Jimmy Carter “give us” inflation of 15%...?

I stand by my earlier post pointing out that anyone who gripes about high inflation AND high interest rates at the same time hasn’t got a clue what they’re talking about. And the rest of your post reinforces that observation.

Meanwhile, the Arab Oil Embargo that created those long lines at the gas station occurred on Nixon’s watch and so did the long lines.

Btw, today we have plenty of gasoline available, NO long lines at the gas stations, very low interest rates and very low core inflation…

So how are the results of Bush’s “Supply-Side/Trickle Down” Reaganomics coming along?

Report this

By RightWing, October 13, 2008 at 11:51 am #

Profiles In Incompetence ...

“The Worst President In American History”
- by INVESTOR’S BUSINESS DAILY

  Posted Wednesday, September 10, 2008 4:20 PM PT
 
Jimmy Carter became our 39th president at the young age of 52.  He
was a one-term governor from Plains, GA, where he managed the family peanut
farm and taught Sunday school.
 
He was also a graduate of the Naval Academy and served seven years
in the Navy, leaving as a lieutenant - which is hardly a stellar record but
typical of lackluster performance in the military.
 
He came to power in the aftermath of the Vietnam War and the
resignation of President Nixon.  The public wanted change and someone new,
and Carter was an ambitious, hands-on politician who promised better days.
As good as his intentions were, however, the things he tried were not
successful.  In fact, he created far more serious problems than he ever
solved.
 
The centerpiece of Carter’s foreign policy was human rights, and he
did achieve one noble success-a peace treaty between Egypt ‘s Anwar Sadat
and Israel’s Menachem Begin.
 
Unfortunately, that later led to Sadat’s assassination at the hands
of Muslim radicals.
 
Many people felt Carter was a good man who worked hard and meant
well. But he was naive and incompetent in handling the enormous burdens and
complex challenges of being president.
 
He wrongly believed Americans had an “inordinate fear of communism,”
so he lifted travel bans to Cuba , North Vietnam and Cambodia and pardoned
draft evaders.  He also stopped B-1 bomber production and gave away our
strategically located Panama Canal.
 
His most damaging miscalculation was the withdrawal of U.S. support
for the Shah of Iran, a strong and longtime military ally.  Carter objected
to the Shah’s alleged mistreatment of imprisoned Soviet spies who were
working to overthrow Iran’s government.  He thought the exiled Ayatollah
Khomeini, being a religious man, would make a fairer leader.
 
Having lost U.S. support, the Shah was overthrown, the Ayatollah
returned, Iran was declared an Islamic nation and Palestinian hit men were
hired to eliminate opposition.
 
The Ayatollah then introduced the idea of suicide bombers to the
Palestine Liberation Organization, paying $35,000 to PLO families whose
young people were brainwashed to kill as many Israelis as possible by
blowing themselves up in crowded shopping areas.
 
Next, the Ayatollah used Iran’s oil wealth to create, train and
finance a new terrorist organization, Hezbollah, which later would attack
Israel in 2006.
 
In November 1979, Mahmoud Ahmadinejad and other Iranians stormed the
U.S. embassy in Tehran and took 52 Americans hostage for 444 days. 
Not until six months into the ordeal did Carter attempt a rescue.
But the mission, using just six Navy helicopters, was poorly executed. Three
of the copters were disabled or lost in sandstorms.
 
(Pilots weren’t allowed to meet with weather forecasters because
someone in authority worried about security.)  Five airmen and three Marines
lost their lives.
 
So, due to overconfidence, inexperience and poor judgment, Carter
undermined and lost a strong ally, Iran, that today aggressively threatens
the U.S., Israel and the rest of the world with nuclear weapons.
 
But that’s not all:
 
After Carter met for the first time with Soviet leader Leonid
Brezhnev, the USSR promptly invaded Afghanistan.  Carter, ever the naive
appeaser, was shocked.  “I can’t believe the Russians lied to
me,” he said.

Report this

By RightWing, October 13, 2008 at 11:51 am #

The invasion attracted a 23-year-old Saudi named Osama bin Laden to
Afghanistan to recruit Muslim fighters and raise money for an anti-Soviet
jihad.  Part of that group eventually became al-Qaida, a terrorist
organization that would declare war on America several times between 1996
and 1998 before attacking us on 9/11, killing more Americans than the
Japanese attack on Pearl Harbor.
 
On Carter’s watch, the Soviet Union went on an unrestrained rampage
in which it took over not only Afghanistan, but also Ethiopia, South Yemen,
Angola, Cambodia, Mozambique, Grenada and Nicaragua.
 
In spite of this, Carter’s last defense budget proposed cutting spending
45% below pre-Vietnam levels for fighter aircraft, 75% for ships, 83% for attack
submarines and 90% for helicopters.
 
Years later, as a civilian, Carter negotiated a peace agreement with
North Korea to keep that communist country from developing nuclear weapons.
He also convinced President Clinton and Secretary of State Madeleine
Albright to go along with it.  But the signed piece of paper proved
worthless.  The North Koreans deceived Carter and instead used our money,
incentives and technical equipment to build nuclear weapons and pose the
threat we face today.
 
Thus did Carter unwittingly become our Neville Chamberlain, creating
with his well-intended but inept, unrealistic and gullible actions the very
conditions that led to the three most dangerous security threats we face
today:  Iran, al-Qaida and North Korea.
 
On the domestic side, Carter gave us inflation of 15%, the highest
in 34 years; interest rates of 21%, the highest in 115 years; and a
severe energy crisis with lines around the block at gas stations nationwide.

In 1977, Carter, along with a Democrat Congress, created a worthy
project with noble intentions - the Community Reinvestment Act. 

Over strong industry objections, it mandated that all banks meet the
credit needs of their entire communities.
 
In 1995, President Clinton imposed even stronger regulations and
performance tests that coerced banks to substantially increase loans to
low-income, poverty-area borrowers or face fines or possible restrictions on
expansion.  These revisions allowed for securitization of CRA loans
containing subprime mortgages.
 
By 1997, good loans were bundled with poor ones and sold as prime
packages to institutions here and abroad.  That shifted risk from the loan
originators, freeing banks to begin pyramiding and make more of these
profitable subprime products.
 
Under two young, well-intended presidents, therefore, big-government
plans and mandates played a significant role in the current subprime
mortgage mess and its catastrophic consequences for the U.S. and
international economies.
 
Hardest-hit by the mortgage foreclosures have been the citizens that
Democrats always claim to help most, inner-city residents, who fell victim
to low or no down payment schemes, unexpected adjustable rates, deceptive loan
applications and commission-hungry salespeople.
 
Now we’re having to bail out at huge cost Fannie Mae and Freddie
Mac, the very agencies that were supposed to stabilize the system. 

In time, this should improve the situation.
 
But the party of Carter and Clinton that mid-wifed our mortgage mess
now wants to be trusted to take over and have the government run our entire
system of health care!
 
And now, we have presidential candidate Barack Hussein Mohammed
Obama, who appears to be more than willing to offer us the opportunity to
build upon the legacy of presidents Carter and Clinton ... the choice is
yours to make.

Report this

By KDelphi, October 12, 2008 at 5:12 pm #

Fadel and cyrena—I got this in the mail from civilrights.org, about re-openeing the investigation into the death of Till. I’m sure you probably have it. Just rmemembered it…

http://www.civilrights.org/library/features/031-emmett-till.html

Report this

By Fadel Abdallah, October 12, 2008 at 11:10 am #

By cyrena, October 11 at 5:15 pm #

Who was doing a class with the information on Emmitt Till? Was that you Fadel? I’m so delighted to know that.
====================
Yes Cyrena, I posted a piece on an experiment I did with my college students under the thread “Palin vs. Palin” without mentioning Emmit Till by name to test my student’s knowledge. Then my piece caught the attention of Inherit The Wind who commented on that in some detail. You can read my piece and Inherit The Wind’s reaction under “Palin vs. Palin.”

Report this

By cyrena, October 11, 2008 at 9:15 pm #

Who was doing a class with the information on Emmitt Till? Was that you Fadel? I’m so delighted to know that. We studied his story (and even more so his mother’s) in a class here on Racism. The students greatly appreciated it, and performed admirably.

I’m so glad to know that we are providing this critical information of our history to at least some people.

Ignorance continues to be the death of us all. Keep up the much appreciated work.

Jimmy Carter was and continues to be as good as they get.

Report this

By Gawd, October 11, 2008 at 7:15 pm #
(Unregistered commenter)

Jimmy Carter is totally qualified to criticize every Republican administration of the last 100 years on economic policy (foreign policy, too, but that’s a different topic). Any politician or media pundit who shrugs off Carter as a “given” failure in that department needs a history lesson.

Without Carter’s refusal to be loyal to an incompetent Fed Chairman he inherited from the previous administration we would never have had the greatest Fed Chairman of all time, Paul Volker, to make the hard but politically unpopular decisions necessary to stop the out-of-control inflation arc allowed to run rampant under Nixon/Ford. Whenever you hear so-called economic experts deriding Carter for “high inflation and high interest rates”, rest assured that expert doesn’t have a clue. High interest rates are the CURE for high inflation, as Carter’s Fed Chairman accurately concluded. People griped about paying initially high interest rates to buy homes…but they HAD MONEY to buy homes!

Contrast that with today where we have low interest rates, low core inflation…while people are losing their homes and the economy SUCKS!

Meanwhile, do a google search on (hardly a “lefty” rag) Forbes’ report “Presidents and Prosperity”. Carter beats every Republican who served at least one full presidential term since Herbert Hoover on overall economic prosperity except Ronald Reagan (the beneficiary of Carter’s tough economic decisions) and ranks only a fraction below him.

For example, NO president beats Carter on new private sector jobs creation on his watch. And certainly not the failed “Supply-Side/Trickle Down” Republican presidents before or after him.

Meanwhile, whenever you hear know-nothing Republicans boast about their great tax-cutter Ronald Reagan, you might want to remind them that Jimmy Carter was the first president to cut the capital gains tax in 15 years from a whopping 39% to 28% (exactly where it was at the end of Reagan’s AND Bush1’s presidencies) and paved the way for one of the greatest tax priviledged wealth-building retirement investment instruments ever invented, the 401K provision, in his Tax Reform Act of 1978.

That represented an even BIGGER cut in Americans’ overall tax burden than ANY legislation signed by Reagan, who may have cut the top marginal rate…but at the same time he eliminated tons of Investment Tax Credits from the code in the name of “simplification” that resulted in an effective tax burden INCREASE for many if not most Americans.

And if stock market returns are the score keeping preference of any of those Carter-bashers, point out that the gains in the market under Carter’s four years in office BEAT those of Nixon/Ford before him (all 8 years) and any BEST four consecutive Reagan years!

Report this

By RightWing, October 11, 2008 at 7:04 pm #

Come on the lowest rated President ever, Stick this in your budget.

McCain Letter Demanded 2006 Action on Fannie and Freddie
by Human Events

10/10/2008 Print This
Forward
Feedback
Digg This!
Subscribe
Sponsored By:
 

Sen. John McCain’s 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below.

McCain’s letter—signed by nineteen other senators—said that it was “...vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]...operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either…should fail.”

Sen. Obama did not sign the letter, nor did any other Democrat.
Now all you libs tell me how This is a fabrication also, and it,s racist too.

Report this

By KDelphi, October 11, 2008 at 3:15 pm #

lastday—I am not lying. You may even be unaware of it (people do “plant” things on other peoples’ sites). Run some spyware on it.

But, I have an old pc, and a slow browser. If a site tags cookies on me, I have to dump the whole load, which causes me to log off, then back on.

I also dont appreciate being “passion played” with an evangeliast site.

I was seeing what other people had written. I decided to see for myself. And, now I agree.

Report this

By PatrickHenry, October 11, 2008 at 3:13 pm #

By lastdaywatchers, October 11 at 10:39 am #

My Mom, Ghandi, Budda, Villachocha, Sun Tsu, Mother Theresa and others including those you mentioned would be on my all star team.

Everyone is entitled to their own opinion and interpretation, nothing is exact until it happens.

After it happens, its all perspective.

Report this

By Inherit The Wind, October 11, 2008 at 3:05 pm #

so I’m in good company, can you name three greater “adults” in the history of mankind?

How about Houdini, Bugs Bunny and “The Fonz”?

Report this

By lastdaywatchers, October 11, 2008 at 2:39 pm #

KDelphi why do you lie on TruthDig?

Have I lied about you? so why do you lie about me?

And then you have the nerve to call President Bush a liar (That like the pot calling the kettle black) 

Inherit The Wind you say ” GO AWAY! The Adults are here.”

Is not Jesus an adult, was Moses an adult?, how about Martin Luther King?

those “adults” just happen to agree with what I’m saying

so I’m in good company, can you name three greater “adults” in the history of mankind?

Report this

By KDelphi, October 11, 2008 at 1:13 pm #

WARNING!: Do NOT click on “lastdaywatchers” link!!

I did it out of “kindness or curiosity”, and, not only is it bs—it also tries to hang a bunch of cookies on your browser, and maybe Trojan.

Report this

By creampuff, October 11, 2008 at 9:19 am #
(Unregistered commenter)

I like Carter.  Fundamentally, he’s probably as solid as they come. But as a leader and particularly economic adviser, he’d be better off keeping his mouth shut as he has no credibility.  His track record speaks for itself and history hasn’t rewritten that episode or been kinder to him in reflection.  What he can speak for is human rights and the plight of the poor - he’s one of the best leaders we’ve had in that area.

What I love is how everything we’re living through today is about bad policies tied just to the previous 8 years.  Some is true, but much of what we see can be dated back to the last 30 years of lack of personal accountability, party-now pay later, and the government will take care of me attitudes that both dem and republicans have hosed on us.  All while we were asleep at the switch for our leadership. 

For all of you looking to simply blame Bush for everything, point at him and that’s fine.  But there are 4 fingers pointing back at each of us.  I wonder how many of you have the guts to really look that deeply in the mirror.

Report this

By Inherit The Wind, October 10, 2008 at 8:56 pm #

Oh, No!

Now with have this idiot sky-pilot “LastDayWatcher” trolling all over the site with his “End is Near”....

He’s like an old Mad Magazine joke: The guy in the sack cloth, long white beard and sandals carrying a sign saying “Repent: The World is Ending!”

GO AWAY! The Adults are here.

Report this

By lastdaywatchers, October 10, 2008 at 7:27 pm #

What President Carter said about the Bush Administration is just another example of what the May 15th Prophecy has been saying all

The May 15th Prophecy all along and has been the only source that has been 100% accurate about what is going on

Do a Google search of the May 15th Prophecy and you will see exactly what is about to happen next

(For those of you Truth Diggers just click on my name)

Report this

By lastdaywatchers, October 10, 2008 at 6:58 pm #

What President Carter said about the Bush Administration is just another example of what the May 15th Prophecy has been saying all along and has been the only source that has been 100% accurate about what is going on

Do a Google search of the May 15th Prophecy and you will see exactly what is about to happen next

(For those of you Truth Diggers just click on my name)

Report this

By PatrickHenry, October 10, 2008 at 6:39 pm #

By Inherit The Wind, October 10 at 8:20 am #

I agree 100%.


By Cran Berry, October 10 at 10:18 am #

You forgot to mention the only true Republican, Ron Paul who would have been a more viable contender against Obama than McCain.  He predicted and warns of government involvement in this currant financial mess.

Report this

By KDelphi, October 10, 2008 at 6:23 pm #

I realize that the prices of homes WERE inflated. They are certainly not now. At least, not in most parts of the country. (ie buying up bad mortgages and letting people stay in their homes—you could make it contingent that they live there for a certian number of years)

So, what should we do instead? Just set up tent cities? It is going to come -or already has—to many people hurting , that, yes, we can help WS—but not you. We want the price of the middle-class’s biggest investment to come way down.

When you take homes from the mc—you have taken their power. You take the equity out of their homes,by denying them basic human rights. You take IRAs and 401ks (which were stupid ideas anyway—working people should never have been so heavily invested in the stock mkt), and , then, you just wait for them to die.

Must be god’s will, huh?

A country without a prominent middle class (seeing that the US is so stuck on the idea of class—everybody is middle class, right? Ok!)can never be a “democracy”. Of course, that assumes that that is what is trying to be accomplished here—I’m not at al certain that it is.

Report this

By greg white, October 10, 2008 at 5:23 pm #
(Unregistered commenter)

Carter was a visionary.  He got the ball rolling on development of alternative energy such as wind, solar and geo-thermal. He gave tax incentives for fuel efficient cars, not 6,000 lb. SUV’s like Bush!

If America had listened to him back then we wouldn’t be in the miss we are in now. America would instead have become energy independent & self-sufficient and the world techonological leader in clean energy production.

But many were hoodwinked by Reagan and the 1st Bush who made sure to rip the solar panels off the White House that Jimmy Carter had installed, and Americans have been the bitch of the oil corporations ever since.

Imagine if all those hundreds of billions of dollars wasted on middle eastern oil wars instead had been spent on America’s infrastructure.  It’s criminal.

Report this

By Inherit The Wind, October 10, 2008 at 3:39 pm #

Cran Berry, October 10 at 10:18 am #

Yes, Bush has given us a depression, among other things. However, only McCain, the Republican candidate who will probably replace him, seems to have any serious plan to do something about it.
****************************************

I take great issue with the word “serious” in conjunction with McCain’s plan. If McCain had bothered to READ the bill just passed he’d see it already CONTAINS his plan! That’s OK, he didn’t read Paulsen’s first plan, either.

Hey, Fadel, thanks for the kind words, but please don’t apologize.  I’m sure on other issues we’ll be calling each other foul names again, but now I know not to take it personally!  (LOL!)

BTW, I REALLY enjoyed your exercise with your college students to bring them up short!  Had any of them even HEARD of Emmett Till???  I make certain my 13 year old learns this stuff, and if he does learn it in school, we discuss it. I don’t want him to parrot me, I want him to think and question interpretations given to him.  I tell him that names and dates and facts are no more than the alphabet of history and you must use them to assemble the concepts to TRULY understand history.

Report this

By Tim, October 10, 2008 at 1:57 pm #
(Unregistered commenter)

@folktruther
“help the morgangees not lose their homes and stop the slide in housing prices.”

uh, what? HOUSING PRICES MUST COME DOWN
They are inflated beyond any reasonable measure. Who on earth can afford homes these days? 6x my annual income for a home? I think not.

Report this

By lawlessone, October 10, 2008 at 1:27 pm #
(Unregistered commenter)

Only Bush could have made Carter look like an economics genius.  Hell, the high school janitor looks like a financial genius compared to Bush.

Report this

By Eric L. Prentis, October 10, 2008 at 1:24 pm #
(Unregistered commenter)

President Bush has no shame. I hope that we can get through the final few months of this clown’s administration without another calamity. President Bush, please resign for the good of the country, and take all the Republican neocons with you.

Sen. John McCain’s financial adviser, Phil Gramm, continues to say that the recession is all in our minds and Americans are just big, fat, baby, whiners. The rich, with seven houses and multimillion dollar incomes, never whine about money, just the poor.

Report this

By Mudbones, October 10, 2008 at 1:22 pm #

Inherit The Wind:

I agree with you.  I was only 17 at the time Carter ran for his first term but really thought he had his act tigether.  He truly tried for peace in the middle east and was somewhat successful.  He also told us we needed to get off fossil fuel and was working hard for alternative energy.  He was a decent guy and its why he wasn;t re-elected.  and yes, Reagan got credit for a lot of his economic success.  As they taught me in economics 101 it takes several years to “right” an economy, doesn;t happen overnight.  We are toast now and it’ll take Obama most of his 4 years to try and straighten this mess out.  We won’t be able to just walk out of Iraq and Afghanastan is a whole other story.  I can’t believe someone finally quoted Bush as saying financial crisis… up tp now its been financial difficulties or uncertain times…

Report this

By Fadel Abdallah, October 10, 2008 at 1:21 pm #

By Inherit The Wind, October 10 at 8:20 am #

Boy, I just LOVE Jimmy Carter! He’s the only man I ever voted for to be President that I felt truly positive about—both times.

And I’ve never regretted it!

Jimmy Carter did preside during some of the worst financial problems—until now.  He instituted, along with Paul Volker, draconian steps to heal the economy.  But such tools took a number of years to work, the patient SEEMED to get sicker, and, along with the Iran Hostage crisis, cost him a second term.  During what WOULD have been his 2nd term, when the economy FINALLY responded to Carter and Volker’s actions (despite Ronald Reagan trying to undermine them), Reagan got the credit and it became an urban legend that Carter was lousy on economics and Reagan was great.

Just the opposite was true.  Then, when trying to continue Reagan’s policies the economy went into a downturn under Poppy Bush (because Bush refused to take the draconian measures again needed), Clinton was able to oust him. Clinton took his economic hit early, with that nasty retroactive tax increase, but long-term it made the economy healthy and the budget balanced.

Then President Disaster moved in.  I hold George W. Bush as the greatest economic terrorist in history. NO terrorist, no hacker could have done to the world’s economy what President Mischief has done. He created financial anarchy and called it “deregulation”.  He gave hundreds of billions in tax cuts that just vanished into offshore accounts.  He created that most massive budget deficits ever that DRAINED the banking system of half a trillion dollars every year.

And we are wondering why the chickens have come home to roost?

God, I miss Jimmy Carter and Bill Clinton as Presidents!
===================
Hello Inherit the Wind!

I know I’ve been harsh on you in regard to other issues, however, this time I think you inherited a lot of reason and sound judgment! I hardly can believe how much we have in common on certain issues and how far we are apart on others! With this comment, I find myself agreeing and identifying with every word you wrote.

In light of this, I hope to continue finding out and appreciating the wise common grounds we share, and thus apologize for being a little harsh on you in the past!

Report this

By Folktruther, October 10, 2008 at 12:32 pm #

Both the present US Treasurer and former US Treasurer, Paulson and Rubin, Obiden’s adviser, headed Goldman,Sachs.  They are now leading a bid to takeover European banks by using what Naomic Klein called the “shock doctrine” of disaster campitalism. They will cause a world deptression to do it.

What must be done is:

1. help the morgangees not lose their homes and stop the slide in housing prices.

2. Drastically cut back the military to decrease US debt.

3.  Nationalize the banks to restore credit.

4.  Tax American corporations to prevent offshoring of US insdustry.

None of this will be done effectively while the American people identify with American power.  It is necessary to restore the distrust of the American people in their spiritual, political and intellectual leaders in order to threaten the power structure to serve the interests of the people.

Including leaders like Carter.  He states he was shocked that China owns in the neighborhood of a trillion dollars of US debt. China owns in the neighborhood of TWO TRILLIION dollars of Ameriecan debt, as he knows very well.

Carter has done some good things as ex-president but he identifies with American power and consequently deceives the American people like all the others.

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By Purple Girl, October 10, 2008 at 12:28 pm #

The Iran Contra Scandal was swept under the National Rug of disgrace Just like Nixons Crimes and Pardon.Ollie North was NOT the Top Offical Involved in that Treasonous act against a Sitting President and ultimatley placing the election validity in question as a result- Fruit from the Poisonous Tree. Seems We have not seen accountablity for Any High crimes in Decades.McCain flaunts Phil Gramm and Rick Davis as Proof of his continued Corruption since The Keating 5 and It’s current Ramifications and Devastations to our Very Stablity and security as a Nation!
The Easiest and most traceable thread is Cheney- From Nixon to W…he has always been there pulling strings and he’s pulling McCains Too!
Jimmy Carter was the Last True American President, ‘For the People and By the People’- The rest have been Corp or foreign Investors Whores.
Carter told US to turn down our Thermostats, put on a sweater. He attempted to regain our citizens through Military precision tactics, not mass destruction predicated on a ‘pre-emptive strike’ Lie.Same thing any Non Corp whore would have done with Afghanistan’s Terrorist Camps….Never set boots down- just bombed the shit out of the camps, and Avoid the citizens and also avoid a resent/hate building occupation!!
Reagans ‘Win’ was to me the beginning of the End of a Free America, and it’s destiny was Today. I felt it at the time (sure he’d start WW3 w/ USSR) and Still convinced to this day that Was the year we were ‘Captured’, and as Mac put it so aptly yesterday….We Have been “prisoners” Ever since.

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By f. j. molloff, October 10, 2008 at 12:20 pm #
(Unregistered commenter)

While I agree wholeheartedly with President Carter’s assertions; I believe that this series of actions were DESIGNED to bring about these consequences.  To take this a step further; I believe that this economic meltdown was ENGINEERED BY THE NEO FASCISTS IN THE WORLD BANK AND THE IMF TO DESTROY WHAT’S LEFT OF OUR SOCIETY AND OUR FREEDOMS.  IT GIVES THE BUSHIES THE EXCUSE TO IMPLEMENT MARTIAL LAW.  BUSH, BERNANKE, PAULSON, ADDINGTON, CHENEY, AND MANY MEMBERS OF CONGRESS WHO COLLABORATED ON THESE POLICIES MUST BE CRIMINALLY PROSECUTED FOR CONSPIRACY TO COMMIT TREASON.

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By Inherit The Wind, October 10, 2008 at 12:20 pm #

Boy, I just LOVE Jimmy Carter! He’s the only man I ever voted for to be President that I felt truly positive about—both times.

And I’ve never regretted it!

Jimmy Carter did preside during some of the worst financial problems—until now.  He instituted, along with Paul Volker, draconian steps to heal the economy.  But such tools took a number of years to work, the patient SEEMED to get sicker, and, along with the Iran Hostage crisis, cost him a second term.  During what WOULD have been his 2nd term, when the economy FINALLY responded to Carter and Volker’s actions (despite Ronald Reagan trying to undermine them), Reagan got the credit and it became an urban legend that Carter was lousy on economics and Reagan was great.

Just the opposite was true.  Then, when trying to continue Reagan’s policies the economy went into a downturn under Poppy Bush (because Bush refused to take the draconian measures again needed), Clinton was able to oust him. Clinton took his economic hit early, with that nasty retroactive tax increase, but long-term it made the economy healthy and the budget balanced.

Then President Disaster moved in.  I hold George W. Bush as the greatest economic terrorist in history. NO terrorist, no hacker could have done to the world’s economy what President Mischief has done. He created financial anarchy and called it “deregulation”.  He gave hundreds of billions in tax cuts that just vanished into offshore accounts.  He created that most massive budget deficits ever that DRAINED the banking system of half a trillion dollars every year.

And we are wondering why the chickens have come home to roost?

God, I miss Jimmy Carter and Bill Clinton as Presidents!

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