U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-03-2007, 09:42 PM
 
Location: OKC, OK
640 posts, read 357,034 times
Reputation: 133

Advertisements

I think the housing market is where it is because people bought homes they couldn't afford because there were lenders out there willing to loan the money, when many clearly couldn't make the payments. I don't think it's the President's fault at all!
Reply With Quote Quick reply to this message

 
Old 11-03-2007, 10:19 PM
 
Location: Near Manito
19,495 posts, read 20,840,695 times
Reputation: 13756
Quote:
Originally Posted by MiamiRob View Post
yes the Supreme Court influence is huge....nice to know that all conservatives care about is ABORTION.
That would be a meaningful comment if it had any veracity.

Besides, if the Suprme Court hadn't imposed its will and bypassed the legislative process back in 1973, we wouldn't still be so divided over that particular issue. But that was a liberal court and a liberal decision -- and that was, indeed, all that liberals cared about...
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:21 PM
 
Location: Near Manito
19,495 posts, read 20,840,695 times
Reputation: 13756
Quote:
Originally Posted by Sooner_Nation_60 View Post
I think the housing market is where it is because people bought homes they couldn't afford because there were lenders out there willing to loan the money, when many clearly couldn't make the payments. I don't think it's the President's fault at all!
Quite true. It appears that some people are eager to blame the President for their own stupidity.
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:23 PM
 
Location: Arizona
5,396 posts, read 7,057,880 times
Reputation: 1197
Quote:
Originally Posted by Sooner_Nation_60 View Post
I think the housing market is where it is because people bought homes they couldn't afford because there were lenders out there willing to loan the money, when many clearly couldn't make the payments. I don't think it's the President's fault at all!
What you mention certainly is correct. However...Bush let Greenspan go wild with interest rates to spur this housing boost and also did not react to the warning signs that economists were talking about a couple years ago that the housing market was headed for a crash. This below from the article

In 2001, however, when the stock bubble collapsed, Alan Greenspan, the Federal Reserve Board chairman, seized on the expanding housing bubble as the best tool for boosting the economy out of the recession. He pushed the short-term interest rate down to 1.0 percent—the lowest level in almost fifty years—and, more important, assured investors of the safety of the housing market, telling Congress in the summer of 2002 that “recent sizable increases in home prices . . . reflect the effects on demand of low mortgage rates, immigration, and shortages of buildable land in some areas.”
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:30 PM
 
Location: OKC, OK
640 posts, read 357,034 times
Reputation: 133
Quote:
Originally Posted by bily4 View Post
What you mention certainly is correct. However...Bush let Greenspan go wild with interest rates to spur this housing boost and also did not react to the warning signs that economists were talking about a couple years ago that the housing market was headed for a crash. This below from the article

In 2001, however, when the stock bubble collapsed, Alan Greenspan, the Federal Reserve Board chairman, seized on the expanding housing bubble as the best tool for boosting the economy out of the recession. He pushed the short-term interest rate down to 1.0 percent—the lowest level in almost fifty years—and, more important, assured investors of the safety of the housing market, telling Congress in the summer of 2002 that “recent sizable increases in home prices . . . reflect the effects on demand of low mortgage rates, immigration, and shortages of buildable land in some areas.”
I disagree. The President can not make every decision for every topic for every person. Home buyers should educate themselves. The information is out there. We have a plethora of resources available to help us along in the process. An informed buyer makes the best decisions, not Greenspan and not the President. We must take accountability for our actions and quit blaming government for everything.
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:31 PM
 
Location: Near Manito
19,495 posts, read 20,840,695 times
Reputation: 13756
Quote:
Originally Posted by bily4 View Post
What you mention certainly is correct. However...Bush let Greenspan go wild with interest rates to spur this housing boost and also did not react to the warning signs that economists were talking about a couple years ago that the housing market was headed for a crash. This below from the article

In 2001, however, when the stock bubble collapsed, Alan Greenspan, the Federal Reserve Board chairman, seized on the expanding housing bubble as the best tool for boosting the economy out of the recession. He pushed the short-term interest rate down to 1.0 percent—the lowest level in almost fifty years—and, more important, assured investors of the safety of the housing market, telling Congress in the summer of 2002 that “recent sizable increases in home prices . . . reflect the effects on demand of low mortgage rates, immigration, and shortages of buildable land in some areas.”
That is not even remotely relevant to the willingness of stupid and greedy people to go into debt that they cannot repay. Credit card interest is at usurious levels, for example, yet there is no shortage of fools making minimum monthly payments on huge balance for things they don't need.

Your argument is analogous to saying that providing children with food causes obesity.
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:44 PM
 
Location: Arizona
5,396 posts, read 7,057,880 times
Reputation: 1197
Quote:
Originally Posted by Yeledaf View Post
That is not even remotely relevant to the willingness of stupid and greedy people to go into debt that they cannot repay. Credit card interest is at usurious levels, for example, yet there is no shortage of fools making minimum monthly payments on huge balance for things they don't need.

Your argument is analogous to saying that providing children with food causes obesity.
Again, no argument about fools and money. But - fairly or unfairly - managing the national economy falls under the job description of the President. The record low interest rates were a prime cause for everyone to go out and act like idiots...and the government is only just now starting to take notice and take reactive measures.
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:47 PM
 
Location: FL/TX Coasts
1,456 posts, read 3,759,012 times
Reputation: 431
President Bush signed a policy providing huge tax breaks for US businesses when they outsource work overseas. I lost my job due to this policy.
Any of Bush suppoters can explain what he had in mind while he signed it?
Thanks
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 10:58 PM
 
Location: Your mind
2,923 posts, read 4,566,891 times
Reputation: 590
Quote:
Originally Posted by Yeledaf View Post
That is not even remotely relevant to the willingness of stupid and greedy people to go into debt that they cannot repay. Credit card interest is at usurious levels, for example, yet there is no shortage of fools making minimum monthly payments on huge balance for things they don't need.

Your argument is analogous to saying that providing children with food causes obesity.
Providing them with too much food probably will, especially if it's unhealthy and fattening.
Reply With Quote Quick reply to this message
 
Old 11-03-2007, 11:13 PM
 
Location: OKC, OK
640 posts, read 357,034 times
Reputation: 133
Quote:
Originally Posted by Cougar31 View Post
President Bush signed a policy providing huge tax breaks for US businesses when they outsource work overseas. I lost my job due to this policy.
Any of Bush suppoters can explain what he had in mind while he signed it?
Thanks

Are you referring to the way the US tax code gives some financial incentive to US companies to invest profits overseas rather than bring them back to the US to be taxed? Bush didn't put that into the tax code. It's been there as long as there has been a corporate income tax.

The President is on record many times stating concern about outsourcing. He's always said the way to deal with it is to make America a better place to do business, not a worse place.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 05:34 PM.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top