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let's not make this a R vs D. both parties are addicted to cheap debt and massive deficit spending.
it's the one thing they have in common, to be able to exert control over the masses, while pitting us against each other.
You may have a point about the spending but I've never heard any prominent Democrat said we need to lower interest rates except when the economy crashed.
Oh we definitely had a fantastic economy before the Chinese Communist Flu. But hey, I'm sure you can spin anything if you try hard enough. You could probably make a convincing argument that, "Technically, the Titanic never actually sank." I'm sure somebody could make a solid case for anything you like no matter how much of a load of crap it is.
But what the heck, let's start with, "What's a good economy?" It's kinda like the "America was never great" crap. If a "good economy" is just some subjective thing based entirely on somebody's opinion, then it becomes true or false based entirely upon people's opinion. I could insist that the 1930's was the peak of economic excellence and nobody could actually prove me wrong because, at the end of the day, that's just my opinion and an opinion can't be right or wrong.
There was only one party who was abusing the law to keep the subprime gravy train going. The same party who sued the New York Attorney General to stop them from investigating subprime lenders in order to keep the bubble going. Care to guess who that party is?
The president separately nominates, and the Senate confirms, the Board’s chair and two vice chairs for four-year terms.
Don't you get tired of being wrong all the time?
Quote:
Originally Posted by beb0p
The American Dream Downpayment Initiative and subprime mortgage are two different things and has nothing to do with interest rates or the economy. .
hahahahahaha So you don't think the housing collapse had anything to do with lowering standards which is what the No Downpayment left behind did? hahahahahaha
A basic economic premise that anyone who has even a minute knowledge of economics knows that when you lower standards, quality and efficiency suffer.
That means bad things happen.
Is it better for the lender to
A. have a 200,000 loan with 3% down fail early
or
B. have a 200,000 loan with 20% down fail early
I'll help B is better
Quote:
Originally Posted by beb0p
You can help me by having a better grasp of what happened.
.
I follow the ones who told us as early as 2003 that a housing collpase was coming. You follow the ones who are wrong.
No one should ever listen to you on this subject.
Oh we definitely had a fantastic economy before the Chinese Communist Flu. But hey, I'm sure you can spin anything if you try hard enough. You could probably make a convincing argument that, "Technically, the Titanic never actually sank." I'm sure somebody could make a solid case for anything you like no matter how much of a load of crap it is.
But what the heck, let's start with, "What's a good economy?" It's kinda like the "America was never great" crap. If a "good economy" is just some subjective thing based entirely on somebody's opinion, then it becomes true or false based entirely upon people's opinion. I could insist that the 1930's was the peak of economic excellence and nobody could actually prove me wrong because, at the end of the day, that's just my opinion and an opinion can't be right or wrong.
One is entitled to their own opinion. One is not entitled to their own facts. Always listen to the ones who have been right about the econoy.
You may have a point about the spending but I've never heard any prominent Democrat said we need to lower interest rates except when the economy crashed.
.
8 years the interest rates were ar record lows when Obama was in office. hahahaha Again, don't you get tired of being wrong?
I have a 'theory' that there is so much money in the stock market, those with money can't afford to let it crash. It's a simple minded view but you get the idea.
So Disney reports big earnings thanks to Disney+ and the market soars. Tech stocks soaring.......BUT BUT what about retail, what about food and beverage, manufacturing.
The economy before COVID was doing good after 10 years of recovery. There was going to be a slow down we all know that.....when and how bad was anybody's guess.
I keep seeing how many new claims for unemployment and trying to figure out how the stock market sees this as a bright future -- lol.
We know little about the virus, the impact in a month, two months, three months.
I don't know.....do we just need optimism to make things better?
It doesn't matter who's in office. It's always the same. More debt to juice the economy.
This is pretty accurate. If you've made a billion dollars during this time, you've still made real money despite the potential for massive inflation down the road. If you're upper middle class, you're just along for the ride, doing anything to support the status quo. If you're working poor, you are screwed either way.
I doubt there are any billionaires on this forum. Most of us on either side of the political spectrum are probably upper middle.
Oh we definitely had a fantastic economy before the Chinese Communist Flu. But hey, I'm sure you can spin anything if you try hard enough. You could probably make a convincing argument that, "Technically, the Titanic never actually sank." I'm sure somebody could make a solid case for anything you like no matter how much of a load of crap it is.
But what the heck, let's start with, "What's a good economy?" It's kinda like the "America was never great" crap. If a "good economy" is just some subjective thing based entirely on somebody's opinion, then it becomes true or false based entirely upon people's opinion. I could insist that the 1930's was the peak of economic excellence and nobody could actually prove me wrong because, at the end of the day, that's just my opinion and an opinion can't be right or wrong.
you still don't get it.
on the surface everything looked rosy. MSM was reporting all the statistics that they wanted us to hear. economy is great, unemployment at record lows, jobs are everywhere, everyone continue to spend spend spend (because our economy is all about consumption).
beneath the surface, there were huge cracks in the economy that were not easily visible to the general public. again, exactly what they wanted.
covid is the perfect cover for them to enact all these bailout measures, to drop rates to 0 and possibly negative, and print the USD into oblivion.
you still don't get it.
on the surface everything looked rosy. MSM was reporting all the statistics that they wanted us to hear. economy is great, unemployment at record lows, jobs are everywhere, everyone continue to spend spend spend (because our economy is all about consumption).
beneath the surface, there were huge cracks in the economy that were not easily visible to the general public. again, exactly what they wanted.
covid is the perfect cover for them to enact all these bailout measures, to drop rates to 0 and possibly negative, and print the USD into oblivion.
Economic success and strength has measurable metrics. Just a few examples:
Unemployment Rate
Labor Participation Rate
Overall GDP
Per Capita GDP
Average Household Income
Everything else is stuff that can be spun and lied about. All of the above were up -- most of them way up -- prior to the Chinese Communist Flu. Even the one metric that Obama could never pretty up -- Labor Participation Rate -- finally flattened and was inching upwards under Trump. If you recall, this was the metric that would get brought up every time Obama's faithful were shouting his praises on the economy (later in his second term). The excuse was, "The LFPR is dropping because Boomers are retiring. We should expect to see this metric continue to trend downwards for years to come, so just ignore it." Well, even LFPR was trending upwards, so even the nitpickiest of actual measures demonstrated that we were doing awesome.
The MSM hates Trump and would have loved to have reported that we were sinking into the abyss economically. They couldn't substantiate such a claim so they generally just didn't bring it up. Instead, they obsessed about the Russiagate conspiracy theory, the Ukrainegate conspiracy theory and they're now working on their third ridiculous conspiracy. But you seem to be plugged into a conspiracy theory universe where Obama never saw any economic recovery at all and Trump never saw an economic boom. You're welcome to your opinion, but the facts simply don't back it up.
As I said, a compelling argument can be made that the Titanic never sank as long as you rethink things and redefine terms, etc. Well good for you, but the Titanic did actually sink and we were in the middle of the biggest economic boom in my lifetime prior to the Chinese Communist Flu.
The president separately nominates, and the Senate confirms, the Board’s chair and two vice chairs for four-year terms.
Don't you get tired of being wrong all the time?
Before you keep going off on unrelated tangent, can you at least check to see the random thing that popped into your head has anything to do with the thread?
I was referring to the Bush administration using federal power to silence the NY attorney general Elliot Spitzer's investigation finding into the subprime mortgages years before the bubble blew.
You keep saying I'm wrong but I'm the one who has to keep correcting you. You couldn't even stay on point on the topic, let alone being right.
Quote:
Originally Posted by Loveshiscountry
hahahahahaha So you don't think the housing collapse had anything to do with lowering standards which is what the No Downpayment left behind did? hahahahahaha
A basic economic premise that anyone who has even a minute knowledge of economics knows that when you lower standards, quality and efficiency suffer.
That means bad things happen.
Is it better for the lender to
A. have a 200,000 loan with 3% down fail early
or
B. have a 200,000 loan with 20% down fail early
I'll help B is better
I follow the ones who told us as early as 2003 that a housing collpase was coming. You follow the ones who are wrong.
No one should ever listen to you on this subject.
The fact that you wrote all that without mentioning CDO, NINJA loan, credit default swap, and the banking system shows me you have no clue what really happened.
Yeah sure, some low income families overextended themselves and it caused the greatest economic crash since the Great Depression.
Anyone who follows people whose prediction takes 5 years to come true and think that's genius is a moron who doesn't understand most prediction would come true if you wait long enough, especially when that prediction immediately precedes the opposite effect. Simply put, if a person had bought a house in 2003, that person'd be sitting on a gold mine in most cities. I suggest you stop listening to morons and start listening to reality.
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