Since when did the Democratic Party become a bunch of free-marketeers?

[Zynx]

Obama and Hillary have proposed very needed economic stimulus packages that will promote greater income equality and prevent damage to the lower classes. This is in keeping with the long standing Democratic tradition since Franklin Roosevelt of using the government as tool for good to correct economic inequities and deficiencies.

However, what do I hear at Democratic Underground? A resounding chorus of "let the market self-correct", "How will we pay for this?", "We have to take the pain". What is God's name is going on here? What's wrong with my party? This economic disaster was started in Wall Street by greedy investment bankers and financial alchemists who have placed our financial system in a precarious position that will lead to pain not for them, but for working men and women all across this country. Believe me, the well-heeled will do just fine. It's those already in pain that will be hurt and we have to do something about it.

Wake the fuck up! Obama and Clinton are right on this.

[Zynx]

1. Kick for an important issue

[Warpy]

2. I wasn't aware they'd been mentioning it

although I know it's been part of Edwards's rhetoric from the start.

Yes, they're right. The market won't self correct, it's been too controlled for too long by all the wrong people.

Things are so bad right now that the well heeled might not do all that well, especially if they've bought heavily into hedge funds and other extremely risky investments. No one is going to get out of this one unhurt, from the street people getting fewer handouts to the plutocrat who has already seen his wealth cut 60% by the fall in the dollar who will see a lot of his investments simply evaporate into the thin air they were created from.

If markets ever self corrected, we wouldn't have Gilded Ages followed by crashes.

[sandnsea]

5. They've got economic stimulus proposals out

To specifically address the mortgage crisis, and Obama's includes assistance for everybody although I don't think it's exactly the right way to go. At least he doesn't do trickle down though.

[Zynx]

13. If a Democrat ever proposed a Supply Side tax cut regime I would slap

them.

[Zynx]

10. The uber wealthy as a group will survive just fine.

They are properly diversified between stocks, bonds, and real estate. They won't get wiped out.

[Warpy]

14. I didn't say they'd get killed

but they will get hurt.

[Zynx]

15. They will be well positioned to take advantage of the wreckage.

Like they always do. Maybe not so many new cars this year, but they will make a killing later.

[Lydia Leftcoast]

3. A "resounding chorus" of people calling for the market to correct things?

Where???

[Zynx]

7. Look at the threads that discuss these packages.

Very few endorsements. A lot of people talking about the "inevitable correction" and other things of that nature.

[sandnsea]

4. People who were cheated on mortgages can live in a tent

And if you aren't eating healthy on food stamps, well you're just stupid and need DU to teach you how.

Yeah sometimes this place gets a little hard to take on money issues. And then wonders what is meant by nauseating liberal elitism.

At the same time, just throwing money at this is probably not going to be enough to affect what could be a major economic crash. I think a little more prudent thought is in order.

[Zynx]

8. I agree these might not be the best stimulus packages, but they are

a start. I am concerned about a total meltdown(well, not like the Depression, but maybe 1981-82 bad without the inflation) and some measures need to be taken.

[sandnsea]

11. The inflation is coming

I don't see how it can't. Did you read that comment by some international economist who said he'd never seen so many banks running around the world with hat in hand? That scared the pee out of me. During the Depression, they phased out some of the small banks that were unsolvent. This is the big banks. And I don't think the worst of it is here yet either. And all Bush can do is keep blathering about Iran.

[Zynx]

12. You will be amazed by how few banks fail.

The Federal Reserve has virtually unlimited power if it so chooses to prevent the financial system from collapsing and the Federal Government beyond that will step in if a large institution is truly teetering.

[lapfog_1]

6. Yup... we have lost the notion that the government

is the counter balance to the private sector. That when the private sector is failing, the government needs to step in and help out, even at the risk of temporary inflation. And when the private sector is humming along, government is there to make sure that well regulated markets are fair for everyone, and that labor has an equal stake in the economic prize as well, and that a large middle class is a good thing for our economy and our country.

We have let the FDR hating conservatives set not only the agenda, but the very language of our economy... and it needs to stop.

[Zynx]

9. We have surrendered way too much ground on a very important issue.

This is at the core of what it is to be Democrats. Perhaps there are too many spoiled brats who never learned what it was to have a hard day's work.