Libs can't believe the daily details of this crumbling economy

Please explain how reducing the debt will create jobs? THAT is all Republicans are focused on. Why wouldn't consumer confidence be waning if they might loose their jobs and have safety net programs cut or eliminated.

Explain how allowing the national debt to increase without any end to the madness in sight helps the economy? Then explain how billions in what amounts to transfer payments from one bloated governmental entity (federal) to those of the several states (so-called stimulus packages) helps the private sector? Then explain how flooding the market with devalued dollars in order to cover the debt helps the economy?

THEN please tell me where all the jobs are. The Bush tax cuts for the 'job creators' have been in effect for a decade now. And Obama even signed an extension. Those elite you right wingers worship should be shooting jobs out of their asses.

Dude! Keynesianism doesn't work! It never has! :bang3:

The economy was holding up just fine given 09/11 and its aftermath until the housing market crashed . . . due once again primarily to the incompetence of Democrats pushing bad loans onto the market via Fannie Mae and Freddie Mac in the name of social justice. Idiots! Bush's response was Keynesianism. Obama's response was Keynesianism on steroids. It doesn't work! It saps economic strength. It encourages reckless behavior.

Taxes are too high and spending is out of control, but mostly spending is out of control. It has to stop. And once Obama is out on his dumbass where he belongs, we Republicans will go in and fix it all over again like we did in the 1980s and '90s, only this time perhaps there will finally be the political will to pass the kind of entitlement reforms necessary to fix the essence of the problem once and for all.

For lefty sure as hell isn't going to do it.

He's a coward, a liar, a demagogue, a socialist, two-bit punk. He's insane, mad, out of his friggin' mind.

Now I see your problem. You're an idiot. Everything you just said is FALSE.

The economy under Bush was not 'holding up just fine'...now that the dust has settled and studies and information have been gathered, the Bush/GOP years will be called the Lost Decade...ZERO job growth, lower wage growth than during the Great Depression and half the public debt that will accrue by 2019 is because of Bush's tax cuts and his two unpaid for wars.

The financial crash had NOTHING to do with selling homes to low income citizens, the majority of people foreclosed on were wealthy. It was not caused by Fannie or Freddie, it was caused by private lenders outside of government regulations. And the REAL kick in the ass for right wing idiots like you...the loudest voice that warned about predatory lending starting way back in 1999....was ACORN.

Please remove the word 'liberal' next to your avatar...replace it with one of the following:
1) Idiot
2) Moron
3) Pea brain
I see you are simply stuck in a world of delusion.
Genius...The federal government mandated that loans be made to people who in the past would not have qualified for a mortgage. The banks were told to do this and were threatened with charges of "red lining". The government told the banks that loans would be guaranteed by the federal government. New housing developments in high growth areas sprung up like like crabgrass in the spring. All kinds of creative loans were made. Buy downs and ARM's led the way. Of course the banks would go for it.
The buying and selling of mortgages became it's own industry. Again with government backing. As early as 2003 Congress was told to rein in Fannie/Freddie because the program was rapidly approaching insolvency. The government offered up another incentive to keep the heat on housing. Credit Default Swaps and mortgage backed securities.
Most of these homes were starter homes sold to low and moderate income people who absolutely no business buying a home. Yes there were foreclosures of homes sold to high income people. Primarily, these people bought when the market was hot. They used ARM's. These sales were to people who had plans to sell within a year or two. This worked out just fine until the bottom dropped out. At the end of the ARM term the buyers were unable to make the new and much higher payment. They defaulted on the loans and went through foreclosure.
Bottom line. Had the federal government not interfered with the housing market, none of this would have happened.
Now you will in utter frustration call me names. Have at it. It's of no meaning to me. I have the facts on my side.
 
Republicans held majority in Congress for 12 years and the White House for eight years; the blame should be placed on WHOM?

Explanation required.
The economy, save for the months following 9/11, was booming.
The Obama admin should take a page out of the book of the Bush and Clinton admins in that both these presidents listen to their economic advisors and allowed the economy to flourish.
It was government interference with programs such as Fannie/Freddie that caused the lunacy we see now.
There is no logic in runaway government spending

You right wingers continue to parrot the propaganda you've been spoon fed. The problem is they are LIES.

Fannie and Freddie did not cause the financial crisis of the collapse or the housing bubble. And Bush's economic performance was the worst in history. There was ZERO net job growth and wage growth was lower that during the Great Depression.

Uh-huh. "poon fed", he says. More slogan spouting.

I'm not defending Bush's record. I said the economy was dealing with the aftermath of 9/11, but you don't allow for the historical fact that it had a profound impact on the economy, and idiot leftists were railing against tax cuts even then. And Fannie and Freddie sure as hell were the principals of the crash in the housing market. I was predicting it and laying it right at their feet, as were some others, long before the actual crash. We understand economic realities. You don't. You live in the fantasy world, apparently, where tax hikes and big-ass government grow economies.
 
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Republicans held majority in Congress for 12 years and the White House for eight years; the blame should be placed on WHOM?

Explanation required.

Blame? For what, the out of control spending, the refusal to reform entitlements? The Republicans at least tried to do the latter, and the Democrats blocked it. They do so every friggin' time! They're doing it now. They have no intent to do what has to be done.

Low tax rates are not the problem. SPENDING AND ENTITLMENT PROGRAMS ARE THE PROBLEM. Yes or no?

You explain how we go on without stopping the excessive spending and reforming entitlements. You explain. You explain how we raise taxes on a stagnant economy and thereby grow it and increase revenue.

Huh? What? Hello!

Dude. The elites of the left know they're full it. They know they’re lying. They don't want to reduce government. They don't care. They want to import European socialism. Period.
 
Last edited:
Republicans held majority in Congress for 12 years and the White House for eight years; the blame should be placed on WHOM?

Explanation required.

Blame? For what, the out of control spending, the refusal to reform entitlements? The Republicans at least tried to do the latter, and the Democrats blocked it. They do so every friggin' time! They're doing it now. They have no intent to do what has to be done.

Low tax rates are not the problem. SPENDING AND ENTITLMENT PROGRAMS ARE THE PROBLEM. Yes or no?

You explain how we go on without stopping the excessive spending and reforming entitlements. You explain. You explain how we raise taxes on a stagnant economy and thereby grow it and increase revenue.

Huh? What? Hello!

Dude. The elites of the left know they're full it. They know they’re lying. They don't want to reduce government. They don't care. They want to export European socialism. Period.
Bush! BOOOOOSH!!!


There, did I get that right, Bfgrn?
 
This is a good place to post this versatile and useful Heinlein quote:

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, now and then- are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.This is known as ‘bad luck.

It comes to mind quite often in this era of near daily "unexpected" bad economic news.
 
Explain how allowing the national debt to increase without any end to the madness in sight helps the economy? Then explain how billions in what amounts to transfer payments from one bloated governmental entity (federal) to those of the several states (so-called stimulus packages) helps the private sector? Then explain how flooding the market with devalued dollars in order to cover the debt helps the economy?



Dude! Keynesianism doesn't work! It never has! :bang3:

The economy was holding up just fine given 09/11 and its aftermath until the housing market crashed . . . due once again primarily to the incompetence of Democrats pushing bad loans onto the market via Fannie Mae and Freddie Mac in the name of social justice. Idiots! Bush's response was Keynesianism. Obama's response was Keynesianism on steroids. It doesn't work! It saps economic strength. It encourages reckless behavior.

Taxes are too high and spending is out of control, but mostly spending is out of control. It has to stop. And once Obama is out on his dumbass where he belongs, we Republicans will go in and fix it all over again like we did in the 1980s and '90s, only this time perhaps there will finally be the political will to pass the kind of entitlement reforms necessary to fix the essence of the problem once and for all.

For lefty sure as hell isn't going to do it.

He's a coward, a liar, a demagogue, a socialist, two-bit punk. He's insane, mad, out of his friggin' mind.

Now I see your problem. You're an idiot. Everything you just said is FALSE.

The economy under Bush was not 'holding up just fine'...now that the dust has settled and studies and information have been gathered, the Bush/GOP years will be called the Lost Decade...ZERO job growth, lower wage growth than during the Great Depression and half the public debt that will accrue by 2019 is because of Bush's tax cuts and his two unpaid for wars.

The financial crash had NOTHING to do with selling homes to low income citizens, the majority of people foreclosed on were wealthy. It was not caused by Fannie or Freddie, it was caused by private lenders outside of government regulations. And the REAL kick in the ass for right wing idiots like you...the loudest voice that warned about predatory lending starting way back in 1999....was ACORN.

Please remove the word 'liberal' next to your avatar...replace it with one of the following:
1) Idiot
2) Moron
3) Pea brain
I see you are simply stuck in a world of delusion.
Genius...The federal government mandated that loans be made to people who in the past would not have qualified for a mortgage. The banks were told to do this and were threatened with charges of "red lining". The government told the banks that loans would be guaranteed by the federal government. New housing developments in high growth areas sprung up like like crabgrass in the spring. All kinds of creative loans were made. Buy downs and ARM's led the way. Of course the banks would go for it.
The buying and selling of mortgages became it's own industry. Again with government backing. As early as 2003 Congress was told to rein in Fannie/Freddie because the program was rapidly approaching insolvency. The government offered up another incentive to keep the heat on housing. Credit Default Swaps and mortgage backed securities.
Most of these homes were starter homes sold to low and moderate income people who absolutely no business buying a home. Yes there were foreclosures of homes sold to high income people. Primarily, these people bought when the market was hot. They used ARM's. These sales were to people who had plans to sell within a year or two. This worked out just fine until the bottom dropped out. At the end of the ARM term the buyers were unable to make the new and much higher payment. They defaulted on the loans and went through foreclosure.
Bottom line. Had the federal government not interfered with the housing market, none of this would have happened.
Now you will in utter frustration call me names. Have at it. It's of no meaning to me. I have the facts on my side.

You have NO facts on your side. The FACTS expose that your right wing world view won't allow you to accept the real truth. What you just said is false, but to a right wing mind it HAS TO be that way. Any other explanation would be heresy.

Is the Wall Street Journal 'credible' enough for you Monica?

Why are all you right wingers so fucking ignorant? EVERYTHING you believe is nothing but bullshit social propaganda spoon fed to you by the Fox News, right wing talking heads and every other mouthpiece for the elite. It is amazing you make it across the street without getting creamed...you don't even know your ass from a hole in the ground!

Here is what we DO know:

1) The financial crisis was not caused by low and middle income families buying a home.

2) It was not caused by dead beat poor people.

3) Fannie and Freddie were not to cause.

4) The Community Investment Act was not the culprit either.

The crisis was caused by private lending, to mostly upper middle class and the wealthy. ONLY 6% of of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas. The majority of those foreclosed on were wealthy and upper middle class, plus a large segment of buyers who were wealthy home flippers looking for a fast buck. They strategically walked away from their mortgages, leaving people who bought homes to live in with lower values on their house and neighborhood.

AND, what really sucks for the right wing propaganda of lies, all the way back to the late '90's there was one very outspoken and vocal critic of predatory lending practices, they even held protests at companies like Wells Fargo and Lehman Brothers...ACORN


WSJ - Fed’s Kroszner: Don’t Blame CRA


WSJ - Fed’s Kroszner: Don’t Blame CRA - The Sequel

Reuters - UPDATE 2-Lending to poor didn't spur crisis


Don't Blame the Community Reinvestment Act

Business Insider - Here's Why Fannie And Freddie Are Not At Fault For The Housing Bubble

Center for Responsible Lending - CRA is not to Blame for the Mortgage Meltdown

Don't blame Fannie and Freddie

Private sector loans, not Fannie or Freddie, triggered crisis


ForeclosureS.com - ACORN - Progress in the Fight Against Predatory Lending

Acorn Led Financial Sector With Warnings on Lending

Biggest Defaulters on Mortgages Are the Rich

The Millionaire Foreclosure Club

Foreclosure double standard: Why the rich get away with defaulting

More Rich People Default On Mortgages

The rich bail faster on mortgages

Biggest Defaulters on Mortgages Are the Rich

Rich Borrowers More Likely to Default on Mortgage

Foreclosures & Walking Away: 60 Minutes Eyes an ‘Epidemic’

Speculation By Investors Largely Cause Of Foreclosure Crisis

How the Foreclosure Crisis Started: Investors, Speculators, Mortgage Fraud & Lax Lending Standards


"Eighty percent of Republicans are just Democrats that don't know what's going on"
Robert F. Kennedy Jr.
 
Now I see your problem. You're an idiot. Everything you just said is FALSE.

The economy under Bush was not 'holding up just fine'...now that the dust has settled and studies and information have been gathered, the Bush/GOP years will be called the Lost Decade...ZERO job growth, lower wage growth than during the Great Depression and half the public debt that will accrue by 2019 is because of Bush's tax cuts and his two unpaid for wars.

The financial crash had NOTHING to do with selling homes to low income citizens, the majority of people foreclosed on were wealthy. It was not caused by Fannie or Freddie, it was caused by private lenders outside of government regulations. And the REAL kick in the ass for right wing idiots like you...the loudest voice that warned about predatory lending starting way back in 1999....was ACORN.

Please remove the word 'liberal' next to your avatar...replace it with one of the following:
1) Idiot
2) Moron
3) Pea brain
I see you are simply stuck in a world of delusion.
Genius...The federal government mandated that loans be made to people who in the past would not have qualified for a mortgage. The banks were told to do this and were threatened with charges of "red lining". The government told the banks that loans would be guaranteed by the federal government. New housing developments in high growth areas sprung up like like crabgrass in the spring. All kinds of creative loans were made. Buy downs and ARM's led the way. Of course the banks would go for it.
The buying and selling of mortgages became it's own industry. Again with government backing. As early as 2003 Congress was told to rein in Fannie/Freddie because the program was rapidly approaching insolvency. The government offered up another incentive to keep the heat on housing. Credit Default Swaps and mortgage backed securities.
Most of these homes were starter homes sold to low and moderate income people who absolutely no business buying a home. Yes there were foreclosures of homes sold to high income people. Primarily, these people bought when the market was hot. They used ARM's. These sales were to people who had plans to sell within a year or two. This worked out just fine until the bottom dropped out. At the end of the ARM term the buyers were unable to make the new and much higher payment. They defaulted on the loans and went through foreclosure.
Bottom line. Had the federal government not interfered with the housing market, none of this would have happened.
Now you will in utter frustration call me names. Have at it. It's of no meaning to me. I have the facts on my side.

You have NO facts on your side. The FACTS expose that your right wing world view won't allow you to accept the real truth. What you just said is false, but to a right wing mind it HAS TO be that way. Any other explanation would be heresy.

Is the Wall Street Journal 'credible' enough for you Monica?

Why are all you right wingers so fucking ignorant? EVERYTHING you believe is nothing but bullshit social propaganda spoon fed to you by the Fox News, right wing talking heads and every other mouthpiece for the elite. It is amazing you make it across the street without getting creamed...you don't even know your ass from a hole in the ground!

Here is what we DO know:

1) The financial crisis was not caused by low and middle income families buying a home.

2) It was not caused by dead beat poor people.

3) Fannie and Freddie were not to cause.

4) The Community Investment Act was not the culprit either.

The crisis was caused by private lending, to mostly upper middle class and the wealthy. ONLY 6% of of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas. The majority of those foreclosed on were wealthy and upper middle class, plus a large segment of buyers who were wealthy home flippers looking for a fast buck. They strategically walked away from their mortgages, leaving people who bought homes to live in with lower values on their house and neighborhood.

AND, what really sucks for the right wing propaganda of lies, all the way back to the late '90's there was one very outspoken and vocal critic of predatory lending practices, they even held protests at companies like Wells Fargo and Lehman Brothers...ACORN


WSJ - Fed’s Kroszner: Don’t Blame CRA


WSJ - Fed’s Kroszner: Don’t Blame CRA - The Sequel

Reuters - UPDATE 2-Lending to poor didn't spur crisis


Don't Blame the Community Reinvestment Act

Business Insider - Here's Why Fannie And Freddie Are Not At Fault For The Housing Bubble

Center for Responsible Lending - CRA is not to Blame for the Mortgage Meltdown

Don't blame Fannie and Freddie

Private sector loans, not Fannie or Freddie, triggered crisis


ForeclosureS.com - ACORN - Progress in the Fight Against Predatory Lending

Acorn Led Financial Sector With Warnings on Lending

Biggest Defaulters on Mortgages Are the Rich

The Millionaire Foreclosure Club

Foreclosure double standard: Why the rich get away with defaulting

More Rich People Default On Mortgages

The rich bail faster on mortgages

Biggest Defaulters on Mortgages Are the Rich

Rich Borrowers More Likely to Default on Mortgage

Foreclosures & Walking Away: 60 Minutes Eyes an ‘Epidemic’

Speculation By Investors Largely Cause Of Foreclosure Crisis

How the Foreclosure Crisis Started: Investors, Speculators, Mortgage Fraud & Lax Lending Standards


"Eighty percent of Republicans are just Democrats that don't know what's going on"
Robert F. Kennedy Jr.
Posting opinion pieces and speculative material from liberal blogs and other non main stream sources does not make them fact.
There are plenty of defenders of socialism on the blogs and liberal news sources you posted.
The problem here is you have a pro redistribution and pro central planning agenda. There is nothing anyone can do about that.
Sad for you that your view is that of the minority and will remain that way for quite some time. If you choose to hang on to your idea that the USA should become some kind of socialist Utopian state, you'd be well advised to not hold your breath.
Once again, if you want it, earn it. Private sector!!!!!!!!
 
The crisis was caused by private lending, to mostly upper middle class and the wealthy. ONLY 6% of of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas. The majority of those foreclosed on were wealthy and upper middle class, plus a large segment of buyers who were wealthy home flippers looking for a fast buck. They strategically walked away from their mortgages, leaving people who bought homes to live in with lower values on their house and neighborhood.

I have no problem with the essentials of this observation. The problem spiraled out of control after the bubble burst. There's no question about that either. Where did I argue otherwise? But you're out of your friggin' mind trying to make out that the mortgage industry was by and large engaged in predatory lending. No. It was engaged in stupid lending mostly at the market rate, dolling out unsecured loans like candy to persons who were not qualified to pay the market rate, for they had nothing to back their credit should things go south.

As for the speculators? Indeed, buoyed by easy access to "creative lending schemes", the private sector's answer to the artificial advantages of the quasi-private firms in the industry, walked away from upside-down mortgages by the droves. And Fannie and Freddie? Aided and abetted by congressional hacks, they sure as hell were way over extended, compelled the strictly private sector to compete for market share on an uneven and risky footing and flooded the market with, not only bad loans, but their own debt in the billions.

See. You want to make me out to be a spoon-fed moron, because that jives with your silly caricature of individualists. But here's the thing: I understood what was happening in the market and why long before FoxNews drove home the point that the financial shenanigans at Freddie Mac and Fannie Mae drove the market off the cliff. I didn't lose any principle in my portfolio or in my 401K. With gains intake, I dumped those stocks and funds that would have undermined my bottom line months before the bubble burst. I also increased my holdings in precious metals.

You take a statement of mine alluding to "social-justice lending" and run with it as if that were the beginning and the ending of my understanding. Sir, that was the political party line for behavior that went far beyond helping out the lower-middle class. That was the cover.

You talk as if the problem was a matter of "A" or "B", when in fact it was a matter involving both, a problem that began with a monopolistic system of putatively government-backed debt, exacerbated by favored-status funding. You're the only one operating under an overly simplified and naive perspective of things, an ideologically driven analysis.

Fannie Mae, Freddie Mac And The Credit Crisis Of 2008
 
I see you are simply stuck in a world of delusion.
Genius...The federal government mandated that loans be made to people who in the past would not have qualified for a mortgage. The banks were told to do this and were threatened with charges of "red lining". The government told the banks that loans would be guaranteed by the federal government. New housing developments in high growth areas sprung up like like crabgrass in the spring. All kinds of creative loans were made. Buy downs and ARM's led the way. Of course the banks would go for it.
The buying and selling of mortgages became it's own industry. Again with government backing. As early as 2003 Congress was told to rein in Fannie/Freddie because the program was rapidly approaching insolvency. The government offered up another incentive to keep the heat on housing. Credit Default Swaps and mortgage backed securities.
Most of these homes were starter homes sold to low and moderate income people who absolutely no business buying a home. Yes there were foreclosures of homes sold to high income people. Primarily, these people bought when the market was hot. They used ARM's. These sales were to people who had plans to sell within a year or two. This worked out just fine until the bottom dropped out. At the end of the ARM term the buyers were unable to make the new and much higher payment. They defaulted on the loans and went through foreclosure.
Bottom line. Had the federal government not interfered with the housing market, none of this would have happened.
Now you will in utter frustration call me names. Have at it. It's of no meaning to me. I have the facts on my side.

You have NO facts on your side. The FACTS expose that your right wing world view won't allow you to accept the real truth. What you just said is false, but to a right wing mind it HAS TO be that way. Any other explanation would be heresy.

Is the Wall Street Journal 'credible' enough for you Monica?

Why are all you right wingers so fucking ignorant? EVERYTHING you believe is nothing but bullshit social propaganda spoon fed to you by the Fox News, right wing talking heads and every other mouthpiece for the elite. It is amazing you make it across the street without getting creamed...you don't even know your ass from a hole in the ground!

Here is what we DO know:

1) The financial crisis was not caused by low and middle income families buying a home.

2) It was not caused by dead beat poor people.

3) Fannie and Freddie were not to cause.

4) The Community Investment Act was not the culprit either.

The crisis was caused by private lending, to mostly upper middle class and the wealthy. ONLY 6% of of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas. The majority of those foreclosed on were wealthy and upper middle class, plus a large segment of buyers who were wealthy home flippers looking for a fast buck. They strategically walked away from their mortgages, leaving people who bought homes to live in with lower values on their house and neighborhood.

AND, what really sucks for the right wing propaganda of lies, all the way back to the late '90's there was one very outspoken and vocal critic of predatory lending practices, they even held protests at companies like Wells Fargo and Lehman Brothers...ACORN


WSJ - Fed’s Kroszner: Don’t Blame CRA


WSJ - Fed’s Kroszner: Don’t Blame CRA - The Sequel

Reuters - UPDATE 2-Lending to poor didn't spur crisis


Don't Blame the Community Reinvestment Act

Business Insider - Here's Why Fannie And Freddie Are Not At Fault For The Housing Bubble

Center for Responsible Lending - CRA is not to Blame for the Mortgage Meltdown

Don't blame Fannie and Freddie

Private sector loans, not Fannie or Freddie, triggered crisis


ForeclosureS.com - ACORN - Progress in the Fight Against Predatory Lending

Acorn Led Financial Sector With Warnings on Lending

Biggest Defaulters on Mortgages Are the Rich

The Millionaire Foreclosure Club

Foreclosure double standard: Why the rich get away with defaulting

More Rich People Default On Mortgages

The rich bail faster on mortgages

Biggest Defaulters on Mortgages Are the Rich

Rich Borrowers More Likely to Default on Mortgage

Foreclosures & Walking Away: 60 Minutes Eyes an ‘Epidemic’

Speculation By Investors Largely Cause Of Foreclosure Crisis

How the Foreclosure Crisis Started: Investors, Speculators, Mortgage Fraud & Lax Lending Standards


"Eighty percent of Republicans are just Democrats that don't know what's going on"
Robert F. Kennedy Jr.
Posting opinion pieces and speculative material from liberal blogs and other non main stream sources does not make them fact.
There are plenty of defenders of socialism on the blogs and liberal news sources you posted.
The problem here is you have a pro redistribution and pro central planning agenda. There is nothing anyone can do about that.
Sad for you that your view is that of the minority and will remain that way for quite some time. If you choose to hang on to your idea that the USA should become some kind of socialist Utopian state, you'd be well advised to not hold your breath.
Once again, if you want it, earn it. Private sector!!!!!!!!

The Wall Street Journal is a liberal blog? You clearly are an idiot and your irrelevant rant proves your ignorance.
 

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