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The Company is a Canadian-based gold exploration company focused on the exploration and development of gold projects.
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tkbowers (< 20) Submitted: 2/22/08 12:16 PM : Start Price: $10.38 BAA Score: -60.73
Bush has totally screwed up the American and world economies. Hard assets in the long run are the only values that will survive his ineptness and will decline in relative value along with everything else. Remember his dream that every American have a house to call home? Now every American may face the strong possibility of a foreclosure and his or her savings being wiped out in bank and brokerage failures. To begin it all, he encouraged ARM's and tied the interest rates to the LIBOR rate which the federal reserve cannot even control and which operated in a higher interest ratge environment. Then the federal reserve for many months raised it funds rate and added to the acceleration of interest rate increases. The purchasers were suckers. Then start a war needing increased borrowing by the government and guaranteed to accelerate world oil prices, which benefitted Bush's friends enormously to the extent that even temporary oil oversupply does not even reduce the price for fuel. Watch the dollar fall, picking the pocket of all Americans not having savings in foreign denominated savings. Then make the bankruptcy process much harsher, to squeeze the last penny out of destitute borrowers. This, my friends, is the Bush economic miracle at work. The American bubble has burst.
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FleaBagger (34.17) Submitted: 2/22/08 12:55 PM
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The tightening of bankruptcy laws discourages irresponsible borrowing and hurts mainly professional bankruptees who are (or were) parasites living a middle-class lifestyle without working, not destitute borrowers. And Bush had little to do with the ARM's, the APR's and foreclosures. However, we are agreed that a debtor government and inflationary currency are due to his bad policy.
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Somnambulo (96.79) Submitted: 5/08/08 11:11 PM
That is a half truth. The bankruptcy laws also give the shaft to people who are wiping out their savings trying to pay for a costly surgery or cancer treatment. The lack of complete insurance coverage is so bad in the states that if you don't have a decent plan from your employer or no plan at all, the cost to treat chronic illness will wipe you out. And now there isn't much protection from your creditors, so I'm sure the stress from that fact will do wonders for your physical recovery. I think the percentage of bankruptcies for the situation I described is in the range of 33-45% of all personal bankruptcies, but someone here might be able to give an accurate figure, which I had heard in an article on public radio. We should also keep in mind that the wealthy group you are describing can sometimes pull strings to get out of the mess they create, whereas the latter are just collateral damage.
tkbowers (< 20) Submitted: 5/26/08 11:25 PM
Thanks for the comment. I am pretty sure that Bush was President while all this crap was going down!
tkbowers (< 20) Submitted: 5/26/08 11:27 PM
Thanks for the comment. It is probable that the "wealthy group" that created this mess are getting wealthier because of it.
BADROCKER (< 20) Submitted: 6/02/08 1:40 PM
Irresponsible borrowing can only be curbed with responsible lending and not the predatory lending that is the monster in our society today. Not a day passes that incredible credit vouchers, enticements and other predatory advertising bombards our citizens. And what about the car commercials on tv that tell you 'good credit, bad credit, it don't matter, come in and drive home a car today'. You pay your credit card one day late and the percentage goes up from prime plus 3 percent to 21 percent or more. Shame. Even students in college are encouraged to borrow on the hopes that someday they will get jobs that will pay them fantastically huge amounts of money in which to pay back these loans. Housing loans that tell you to borrow 100% or more on the appraised value of your home (as appraised by the lenders approved appraiser). And then there are the people that become bankrupt because of medical problems with no health insurance. These are surely not considered parasites? Maybe if these people had health insurance the other bills would be easier to pay? This loan slavery is a drag on our society and our economy. Remember some historical parallels when the rich were so rich and the poor could barely afford food and housing (and now of course transportation to work)? I believe the queen told them 'Let them eat cake'. The President takes credit or blame for everything that occurs during his/her administration. Period. No picking and choosing. The economy, the war, the runaway oil prices, the mortgage crisis all of it.
BADROCKER (< 20) Submitted: 6/02/08 1:42 PM
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