Minimum Wage --Prevents-- Wealth Acquisition!

[EdwardBaiamonte]

Most liberals don't understand this because they don't really grasp the principles of free market capitalism.

And you don't seem to comprehend the FACT that free market capitalism does not exist on the planet Earth.

100% stupid since he did not say that free market capitalism existed just that he wants us to move toward more capitalism, not toward more socialism.



Do you understand now?

The US moved closer to a "free market" in the US in the 1870's, 1920's, 1980's and 20000's.

You know that correlate to the Banksters bubbles? Weird right Bubba?

2000's bubble was caused by massive liberal interference in housing industry that included 132 programs to get people into homes the free market said they could not afford.

HOUSING POLICES AROUND FOR DECADES (EXCEPT FOR THOSE DUBYA STARTED THAT HOSED FANNIE/FREDDIE) CAUSED THIS:

yes what a pity that liberals created affordable housing goal that required Fan Fred to create 56% subprime and Alt A mortgages!!

 

[Dad2three]

Any artificial barrier prevents wealth acquisition. Don't vote Democrat if you don't want your wealth taken from you by those leaches.[/QUOT

Or we continue to elect CONservatives/GOP who don't "believe in" Gov't and Gov't regulations/regulators then are shocked when Gov't doesn't work for the bottom 90% of US?

 

[EdwardBaiamonte]

"Minimum Wage --Prevents-- Wealth Acquisition!"

This fails as a confusion of correlation and causation fallacy.

supply and demand says when you raise price the demand for jobs by employers will shrink and you will create unemployment. Its a liberal scam to champion those who work at the higher wage and ignore all those who cant get work because of the higher minimum wage.

 

[Dad2three]

WORLD WIDE CREDIT BUBBLE AND BUST? One cheered on by REPUBLICAN Dubya who WAS SUPPOSED TO BE IN CHARGE OF REGULATORS BUBBA?

if W cheered it on he was a liberal.

Simple enough for even dumbto3 to understand?

Weird low info Ed (lil yellow bus Ed to some) ignores the WORLD WIDE NATURE OF THE BANKSTERS CREDIT BUBBLE AS THE GOP CHEERED IT ON IN THE US? When 100% OF THE GOP VOTED FOR DUBYA'S "FREE housing" down-payment plan that gave out 120,000 FREE down-payments? Hmm

 

[EdwardBaiamonte]

WORLD WIDE CREDIT BUBBLE AND BUST? One cheered on by REPUBLICAN Dubya who WAS SUPPOSED TO BE IN CHARGE OF REGULATORS BUBBA?

if W cheered it on he was a liberal.

Simple enough for even dumbto3 to understand?

Weird low info Ed (lil yellow bus Ed to some) ignores the WORLD WIDE NATURE OF THE BANKSTERS CREDIT BUBBLE AS THE GOP CHEERED IT ON IN THE US? When 100% OF THE GOP VOTED FOR DUBYA'S "FREE housing" down-payment plan that gave out 120,000 FREE down-payments? Hmm

dear if GOP cheered on socialism they were not conservative!!

Are you really too stupid to understand??

 

[Dad2three]

And you don't seem to comprehend the FACT that free market capitalism does not exist on the planet Earth.

100% stupid since he did not say that free market capitalism existed just that he wants us to move toward more capitalism, not toward more socialism.



Do you understand now?

The US moved closer to a "free market" in the US in the 1870's, 1920's, 1980's and 20000's.

You know that correlate to the Banksters bubbles? Weird right Bubba?

2000's bubble was caused by massive liberal interference in housing industry that included 132 programs to get people into homes the free market said they could not afford.

HOUSING POLICES AROUND FOR DECADES (EXCEPT FOR THOSE DUBYA STARTED THAT HOSED FANNIE/FREDDIE) CAUSED THIS:

yes what a pity that liberals created affordable housing goal that required Fan Fred to create 56% subprime and Alt A mortgages!!

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

 

[Dad2three]

WORLD WIDE CREDIT BUBBLE AND BUST? One cheered on by REPUBLICAN Dubya who WAS SUPPOSED TO BE IN CHARGE OF REGULATORS BUBBA?

if W cheered it on he was a liberal.

Simple enough for even dumbto3 to understand?

Weird low info Ed (lil yellow bus Ed to some) ignores the WORLD WIDE NATURE OF THE BANKSTERS CREDIT BUBBLE AS THE GOP CHEERED IT ON IN THE US? When 100% OF THE GOP VOTED FOR DUBYA'S "FREE housing" down-payment plan that gave out 120,000 FREE down-payments? Hmm

dear if GOP cheered on socialism they were not conservative!!

Are you really too stupid to understand??

Yet 100% of the GOPers in Congress voted for it. Go figure Bubba

 

[EdwardBaiamonte]

100% stupid since he did not say that free market capitalism existed just that he wants us to move toward more capitalism, not toward more socialism.



Do you understand now?

The US moved closer to a "free market" in the US in the 1870's, 1920's, 1980's and 20000's.

You know that correlate to the Banksters bubbles? Weird right Bubba?

2000's bubble was caused by massive liberal interference in housing industry that included 132 programs to get people into homes the free market said they could not afford.

HOUSING POLICES AROUND FOR DECADES (EXCEPT FOR THOSE DUBYA STARTED THAT HOSED FANNIE/FREDDIE) CAUSED THIS:

yes what a pity that liberals created affordable housing goal that required Fan Fred to create 56% subprime and Alt A mortgages!!

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

dear if W was a liberal why are you so down on him when you are a liberal??
Are you really this stupid???

 

[EdwardBaiamonte]

WORLD WIDE CREDIT BUBBLE AND BUST? One cheered on by REPUBLICAN Dubya who WAS SUPPOSED TO BE IN CHARGE OF REGULATORS BUBBA?

if W cheered it on he was a liberal.

Simple enough for even dumbto3 to understand?

Weird low info Ed (lil yellow bus Ed to some) ignores the WORLD WIDE NATURE OF THE BANKSTERS CREDIT BUBBLE AS THE GOP CHEERED IT ON IN THE US? When 100% OF THE GOP VOTED FOR DUBYA'S "FREE housing" down-payment plan that gave out 120,000 FREE down-payments? Hmm

dear if GOP cheered on socialism they were not conservative!!

Are you really too stupid to understand??

Yet 100% of the GOPers in Congress voted for it. Go figure Bubba

whats to figure??? IF they voted for socialism they were not capitalist.

Are you really too stupid to understand that?

 

[Dad2three]

The US moved closer to a "free market" in the US in the 1870's, 1920's, 1980's and 20000's.

You know that correlate to the Banksters bubbles? Weird right Bubba?

2000's bubble was caused by massive liberal interference in housing industry that included 132 programs to get people into homes the free market said they could not afford.

HOUSING POLICES AROUND FOR DECADES (EXCEPT FOR THOSE DUBYA STARTED THAT HOSED FANNIE/FREDDIE) CAUSED THIS:

yes what a pity that liberals created affordable housing goal that required Fan Fred to create 56% subprime and Alt A mortgages!!

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

dear if W was a liberal why are you so down on him when you are a liberal??
Are you really this stupid???

Sure Bubba, sure, Dubya was "liberal", just like the 100% of GOPers voting for his 120,000 FREE DOWN PAYMENT PLAN AND BOTH OF HIS TAX CUTS FOR THE RICH, RIGHT BUBS?


ONCE MORE, WORLD WIDE CREDIT BUBBLE. ANYTHING BUBBA? lol

 

[EdwardBaiamonte]

100% of GOPers voting for his 120,000 FREE DOWN PAYMENT PLAN l

dear if they did that they were not conservative. Do you have any idea what your point is unless you are trying to look stupid????

 

[EdwardBaiamonte]

ONCE MORE, WORLD WIDE CREDIT BUBBLE. ANYTHING BUBBA? lol

yes dear all agree there was a world wide credit bubble, And???????????

Do you have any idea why you have pointed it out 146 times and have never said why you pointed it out?????

See why we say stupid???? In your case actually between stupid and insane. Are you going for 147 times?

 

[Dad2three]

100% of GOPers voting for his 120,000 FREE DOWN PAYMENT PLAN l

dear if they did that they were not conservative. Do you have any idea what your point is unless you are trying to look stupid????

Says the Klown who edits posts, and then argues from the edited posts? lol

 

[Boss]

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

BZZZ.. I've already corrected your stupidity regarding this. The actual problem started with the introduction of ARMs back in 1980, something that Carter did.... surprise, surprise! Then repealing Glass-Steagall in 1999, something Clinton did...surprise, surprise! Then you get to Dubya's non-conservative compassionism to make it easy for low-income families to purchase homes. When the bottom fell out on home prices, ALL OF THESE POLICIES resulted in a collapse of the financial sector. To try and blame it all on Bush is typical of the lying piece of shit hack you are.

 

[Dad2three]

ONCE MORE, WORLD WIDE CREDIT BUBBLE. ANYTHING BUBBA? lol

yes dear all agree there was a world wide credit bubble, And???????????

Do you have any idea why you have pointed it out 146 times and have never said why you pointed it out?????

See why we say stupid???? In your case actually between stupid and insane. Are you going for 147 times?

Weird how librals in the US colluded with Banksters to create the WORLD WIDE credit bubble of the 1870's, 1920's and 2000's right Bubba?


It was "liberal" housing policies then? lol

In the 2000's DOZENS of nations colluded to hose the "free markets" hand Bubba? lol

 

[CultureCitizen]

Mexico was not it its prime..

oh so you want to protect Mexico and China from competition with us, but not protect America which is in its prime???

You are clueless Ed.
By protecting Mexico , the low income jobs in the US are also protected : Less immigrants = less labour supply = higher wages.
Had the US let mexico develop on its own instead making it a trading partner those 20 or 40 million would be in the other side of the border .
Still over your head Ed ?

 

[Dad2three]

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

BZZZ.. I've already corrected your stupidity regarding this. The actual problem started with the introduction of ARMs back in 1980, something that Carter did.... surprise, surprise! Then repealing Glass-Steagall in 1999, something Clinton did...surprise, surprise! Then you get to Dubya's non-conservative compassionism to make it easy for low-income families to purchase homes. When the bottom fell out on home prices, ALL OF THESE POLICIES resulted in a collapse of the financial sector. To try and blame it all on Bush is typical of the lying piece of shit hack you are.

Sure Bubba, sure YOU keep "believing" that nonsense



Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”



Q Did the Community Reinvestment Act under Carter/Clinton caused it?


A "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "

http://www.federalreserve.gov/newsevents/speech/20081203_analysis.pdf


Q Why is it commonly called the “subprime bubble” ?

A Because the Bush Mortgage Bubble coincided with the explosive growth of Subprime mortgage and politics. Also the subprime MBS market was the first to collapse in late 2006. In 2003, 10 % of all mortgages were subprime. In 2006, 40 % were subprime. This is a 300 % increase in subprime lending. (and notice it coincides with the dates of the Bush Mortgage bubble that Bush and the Fed said)

“Some 80 percent of outstanding U.S. mortgages are prime, while 14 percent are subprime and 6 percent fall into the near-prime category. These numbers, however, mask the explosive growth of nonprime mortgages. Subprime and near-prime loans shot up from 9 percent of newly originated securitized mortgages in 2001 to 40 percent in 2006

https://www.dallasfed.org/assets/documents/research/eclett/2007/el0711.pdf

Q. Er uh, didn’t you notice your link said the explosive growth of subprime mortgages started in 2001?

A. It did kinda say that didn’t it? However, the link below clearly states subprime was 10 % in 2003. 9% in 2001 to 10% in 2003 is only a 1% increase. A 1 % increase over 3 years is flat not explosive. 10 % in 2003 to 40% in 2006 is explosive. So the explosive growth started in 2004 which lines up pretty good but not exactly with the timeframe of the Bush Mortgage Bubble.


“In dollar terms, nonprime mortgages represented 32 percent of all mortgage originations in 2005, more than triple their 10 percent share only two years earlier


FRB: Finance and Economics Discussion Series: Screen Reader Version - 200899

The banks have known for 30 years the risks involved on the loan products they sold. This is why they lobbied so hard to allow them to sell the bad products to investors so they would not be holding the bad paper or the risks. The developed the products like stated income stated assets then bundled them to make it appear they were blended risks and then sold them to multiple investors.




Bush's documented policies and statements in timeframe leading up to the start of the Bush Mortgage Bubble include (but not limited to)

Wanting 5.5 million more minority homeowners
Tells congress there is nothing wrong with GSEs
Pledging to use federal policy to increase home ownership
Routinely taking credit for the housing market
Forcing GSEs to buy more low income home loans by raising their Housing Goals (2004)
Lowering Investment banks capital requirements, Net Capital rule (2004)
Reversing the Clinton rule that restricted GSEs purchases of subprime loans (2004)
Lowering down payment requirements to 0% (2004)
Forcing GSEs to spend an additional $440 billion in the secondary markets (2004)
Giving away 40,000 free down payments PER YEAR (2004-2007)
PREEMPTING ALL STATE LAWS AGAINST PREDATORY LENDING (2003)


But the biggest policy was regulators not enforcing lending standards.


FACTS on Dubya's great recession | US Message Board - Political Discussion Forum

 

[TheGreatGatsby]

Any artificial barrier prevents wealth acquisition. Don't vote Democrat if you don't want your wealth taken from you by those leaches.[/QUOT

Or we continue to elect CONservatives/GOP who don't "believe in" Gov't and Gov't regulations/regulators then are shocked when Gov't doesn't work for the bottom 90% of US?

Yea__ no. GOP walks lock step with you Demtards on regulations and phony systems.

 

[Dad2three]

BZZ wrong Bubba, yes Dubya changed Clinton RULES that disallowed SUBPRIME LOANS QUALIFYING FOR THE AFFORDABLE HOUSING GOALS, but ZERO to do with Dubya FORCING F/F TO PURCHASE THE $440 BILLION IN MBS'S FROM THE BANKSTERS IN THEIR WORLD WIDE CREDIT BUBBLE BUBBA!1!

BZZZ.. I've already corrected your stupidity regarding this. The actual problem started with the introduction of ARMs back in 1980, something that Carter did.... surprise, surprise! Then repealing Glass-Steagall in 1999, something Clinton did...surprise, surprise! Then you get to Dubya's non-conservative compassionism to make it easy for low-income families to purchase homes. When the bottom fell out on home prices, ALL OF THESE POLICIES resulted in a collapse of the financial sector. To try and blame it all on Bush is typical of the lying piece of shit hack you are.

"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDN'T REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.


PLEASE NAME THE LAW REQUIRING OVER HALF OF MORTGAGES TO BE SUBPRIME/LOW DOC LOANS IN 2006? PRETTY PLEASE?



Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them. And then they sold the loan and risk to investors and GSEs clamoring for the loans. Actually banks, pension funds, investment banks and other investors clamored for them. Bush forced Freddie and Fannie to buy an additional $440 billion in mortgages in the secondary market.


June 17, 2004


Builders to fight Bush's low-income plan


NEW YORK (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.


Home builders fight Bush's low-income housing - Jun. 17, 2004


Predatory Lenders' Partner in Crime

Predatory lending was widely understood to present a looming national crisis.

What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge?

Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye

In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative


Eliot Spitzer - Predatory Lenders' Partner in Crime

 

[Dad2three]

Any artificial barrier prevents wealth acquisition. Don't vote Democrat if you don't want your wealth taken from you by those leaches.[/QUOT

Or we continue to elect CONservatives/GOP who don't "believe in" Gov't and Gov't regulations/regulators then are shocked when Gov't doesn't work for the bottom 90% of US?

Yea__ no. GOP walks lock step with you Demtards on regulations and phony systems.

Oh another guy who hasn't outgrown his Randian fetish that has NEVER worked ANYWHERE EVER. Weird