What Is Congress Stimulating?

[Truthmatters]

Sure they can if they stick to reality and facts.

 

[Arthur]

Chris, why don't we just let the government take over everything. They always do a great job on anything they touch. The private sector just screws everything up, huh? If your not a socialist, your a communist. But, one thing your not is a capitalist. For me, I'm one who wants the federal government out of my life except for the safety of America, and infrastructure.

Government bad. Market good. Ridiculous.


Only 4% of the mortgages in the U.S. are in foreclosure. The reason the market collapsed is that the theives on Wall Street created a leveraged financial instrument that Warren Buffett called the "instrument of financial mass destruction"......the derivative. This was created when Phil Gramm snuck a deregulation bill into a spending package on the day before Christmas recess 1999. The same thing happened in 1929 when stockbrokers were allowed to buy stocks on 10% margin. Then FDR regulated the market, and it worked well for 70 years until Phil Gramm screwed it up.

Warren Buffett talks about derivatives at the following link....

BBC NEWS | Business | Buffett warns on investment 'time bomb'

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Bush grew government spending, he didn't shrink it. He led us into an unnecessary, expensive war without end while cutting taxes. He pandered to his corporate buddies and let the rich get richer.

The middle and working classes feel the effect of Bush's failed economic policies. Let's adopt the stimulus package and move on.

 

[Annie]

Sure they can if they stick to reality and facts.

 

[Truthmatters]

Government bad. Market good. Ridiculous.


Only 4% of the mortgages in the U.S. are in foreclosure. The reason the market collapsed is that the theives on Wall Street created a leveraged financial instrument that Warren Buffett called the "instrument of financial mass destruction"......the derivative. This was created when Phil Gramm snuck a deregulation bill into a spending package on the day before Christmas recess 1999. The same thing happened in 1929 when stockbrokers were allowed to buy stocks on 10% margin. Then FDR regulated the market, and it worked well for 70 years until Phil Gramm screwed it up.

Warren Buffett talks about derivatives at the following link....

BBC NEWS | Business | Buffett warns on investment 'time bomb'

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Bush grew government spending, he didn't shrink it. He led us into an unnecessary, expensive war without end while cutting taxes. He pandered to his corporate buddies and let the rich get richer.

The middle and working classes feel the effect of Bush's failed economic policies.

He broke the cardinal rule of economics.

He cut taxes while fighting a war.


The Rs defended this.


It was an obvious recipe for disastor.

He then compounded it with deregulation at every turn.


He will be the worst president in history and will hold that post FOREVER if we are lucky.

 

[Meister]

I did note than you libs...or socialists...or communists did't really refute the meat of my earlier post. I am assuming that you can't refute it, and that I'm right. By the way...I am not a democrat, nor a republican...so don't label me as such. Bush wasn't my favorite president either. But....he was against the guy who invented the internet, which would have been a joke, and he was against John Kerry...give me a break. If you damn dems wanted him beat, you should have put up someone that was worthy. You people are all the same, you listen to your socialist pundits, and then use their rhetoric to defend such bias views. This is America not some 3rd world country. So don't try and make it one.
I can't understand why you people just don't leave, and go to one of those socialist nations. I'm sure you would be much happier. What you ought to do is read the memoirs of Eldridge Cleaver, maybe then you will understand a bit more.

 

[RodISHI]

Wonder Land: Daniel Henninger Looks at How Much 'Stimulus' Money Will Be Spent on Government Infrastructure - WSJ.com

Check your PC's virus program, then pull down the nearly 700 pages of the American Recovery and Reinvestment Act. Dive into its dank waters and what is most striking is how much "stimulus" money is being spent on the government's own infrastructure. This bill isn't economic stimulus. It's self-stimulus.

(All sums here include the disorienting zeros, as in the bill.)

Title VI, Financial Services and General Government, says that "not less than $6,000,000,000 shall be used for construction, repair, and alteration of Federal buildings." There's enough money there to name a building after every Member of Congress.

The Bureau of Land Management gets $325,000,000 to spend fixing federal land, including "trail repair" and "remediation of abandoned mines or well sites," no doubt left over from the 19th-century land rush.

The Centers for Disease Control and Prevention are getting $462,000,000 for "equipment, construction, and renovation of facilities, including necessary repairs and improvements to leased laboratories."

The National Institute of Standards gets $357,000,000 for the "construction of research facilities." The Oceanic and Atmospheric Administration gets $427,000,000 for that. The country is in an economic meltdown and the federal government is redecorating.

The FBI gets $75,000,000 for "salaries and expenses." Inside the $6,200,000,000 Weatherization Assistance Program one finds "expenses" of $500,000,000. How many bureaucrats does it take to "expense" a half-billion dollars?

The current, Senate-amended version now lists "an additional amount to be deposited in the Federal Buildings Fund, $9,048,000,000." Of this, "not less than $6,000,000,000 shall be available for measures necessary to convert GSA facilities to High-Performance Green Buildings." High performance?

Sen. Tom Coburn is threatening to read the bill on the floor of the Senate. I have a better idea: Read it on "Saturday Night Live."

Such as the amendment to Section 2(3)(F) of the Longshore and Harbor Workers' Compensation Act, which will permit payments to guys employed to repair "recreational vessels." Under Incentives for New Jobs, we find a credit to employ what the bill calls "disconnected youths," defined as "not readily employable by reason of lacking a sufficient number of basic skills."

President Obama is saying the bill will "create or save" three million new jobs. The bad news is your new boss is Uncle Sam.

I'm thinking putting money into the federal reconstruction is not to bad. Although I would like to see the FBI and SEC get the funds it needs to crack down on the major fraud players.

Remodeling/construction on federal facilities can't be all that bad. At least the tax payer is not footing half the bill to build stadiums named after the banks or milions upon millions to build new credit or mortgage centers. Or pay for companies to send our light manufacturing jobs to Mexico or overseas.

I'd say now is the time to get back into contracting.

 

[Skull Pilot]

Only if you're a multimillion dollar construction company with political ties would you see any of that federal redecorating money

and the federal government has trillions of dollars in real estate and buildings that are not being used, so why not sell them to fund the remodeling of government offices rather than ask taxpayers to foot the bill

 

[RodISHI]

They hire us little guys to actually do a lot of that work.

 

[Svante]

D e är att stimuler deres korv.

 

[RodISHI]

He's a lousy governor. He needs to go back into the movies.

 

[Truthmatters]

Only if you're a multimillion dollar construction company with political ties would you see any of that federal redecorating money

and the federal government has trillions of dollars in real estate and buildings that are not being used, so why not sell them to fund the remodeling of government offices rather than ask taxpayers to foot the bill

Whos going to buy them in this economy?

 

[Skull Pilot]

Only if you're a multimillion dollar construction company with political ties would you see any of that federal redecorating money

and the federal government has trillions of dollars in real estate and buildings that are not being used, so why not sell them to fund the remodeling of government offices rather than ask taxpayers to foot the bill

Whos going to buy them in this economy?

you're right

hey let's have the government buy another trillion dollars worth of shit it won't use, maybe then we'll be better off.

 

[Chris]

Chris, why don't we just let the government take over everything. They always do a great job on anything they touch. The private sector just screws everything up, huh? If your not a socialist, your a communist. But, one thing your not is a capitalist. For me, I'm one who wants the federal government out of my life except for the safety of America, and infrastructure.

Government bad. Market good. Ridiculous.


Only 4% of the mortgages in the U.S. are in foreclosure. The reason the market collapsed is that the theives on Wall Street created a leveraged financial instrument that Warren Buffett called the "instrument of financial mass destruction"......the derivative. This was created when Phil Gramm snuck a deregulation bill into a spending package on the day before Christmas recess 1999. The same thing happened in 1929 when stockbrokers were allowed to buy stocks on 10% margin. Then FDR regulated the market, and it worked well for 70 years until Phil Gramm screwed it up.

Warren Buffett talks about derivatives at the following link....

BBC NEWS | Business | Buffett warns on investment 'time bomb'

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

 

[Skull Pilot]

Government bad. Market good. Ridiculous.


Only 4% of the mortgages in the U.S. are in foreclosure. The reason the market collapsed is that the theives on Wall Street created a leveraged financial instrument that Warren Buffett called the "instrument of financial mass destruction"......the derivative. This was created when Phil Gramm snuck a deregulation bill into a spending package on the day before Christmas recess 1999. The same thing happened in 1929 when stockbrokers were allowed to buy stocks on 10% margin. Then FDR regulated the market, and it worked well for 70 years until Phil Gramm screwed it up.

Warren Buffett talks about derivatives at the following link....

BBC NEWS | Business | Buffett warns on investment 'time bomb'

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

if it was so bad, then why did your hero Billy boy sign it?

 

[Chris]

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

if it was so bad, then why did your hero Billy boy sign it?

Because like everyone else, he did not realize the implications.

It was a mistake on the part of the Congress, Clinton, and especially Phil Gramm, because he knew exactly what he was doing. That is why he attached it to a spending bill the day before Christmas recess. He knew no one would have time to review it.

 

[Care4all]

I would say too much regulation helped cause it.

exactly, the government stepping in and forcing high risk loans

Not really forcing, but allowing...... The dollar value of foreclosures on low income starter homes is less than 10% of the total. Most of the failures are from the house flippers....

6% is the figure of CRA people with loans defaulting... cra=community reinvestment act, so yes....less than 10% but almost only 5%

they are getting a bad rap....

 

[Skull Pilot]

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

if it was so bad, then why did your hero Billy boy sign it?

Because like everyone else, he did not realize the implications.

It was a mistake on the part of the Congress, Clinton, and especially Phil Gramm, because he knew exactly what he was doing. That is why he attached it to a spending bill the day before Christmas recess. He knew no one would have time to review it.

the buck stops with the president.

just like the buck will stop with obama when he signs the pork package with all the last minute crap slipped in that no one will bother to read or ponder the implications of.

 

[Care4all]

You never cease to amaze me, Chris. Your big government wanted more people to be able to qualify for house mortgages. They asked Freddie, and Fannie to loosen up the restrictions. It was your big government that intervened. The private sector never would have come up with that one. Your big government Bill Clinton signed the damn bill. Don't give me that it was the private sector that did this. By the way....Phil Gramm didn't have enough votes by himself to pass the bill, so don't go pointing fingers at one person. It was a group effort by your big government. FDR screwed up the economy with all his socialistic programs that we couldn't afford at the time. It didn't work, Chris. We stayed in the depression until WWII. Also, we had recessions in the market since FDR, Chris...remember your good buddy Jimmy Carter. Thank God that Reagan was elected to stimulate the economy. If you don't know the facts...don't print them, Chris. By the way Chris, if only 4% of the houses are in foreclosure(by your own words) why do you want big govenment to intervene and give tax credits to the industry??? Com' on, bring your 'A" game, Chris.

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

if it was so bad, then why did your hero Billy boy sign it?

FYI

Because Phil Gram slipped it in to a "Must pass, Appropriations Bill" in the middle of the night....in conference I believe, but not 100% certain on that...

The Bill was veto proof (2/3's of the senate and house supported it), bill clinton had no choice, but to sign this appropriations bill....Phil Graham KNEW THIS, that is why he slipped it in there....

 

[Skull Pilot]

Derivatives caused the market to crash because there was nothing to back up the stock purchases that were make. The same thing happened with the low margin stock purchases in 1929.

And yes, Phil Gramm is largely to blame because he snuck that deregualtion amendment in on the day before Christmas recess.

if it was so bad, then why did your hero Billy boy sign it?

FYI

Because Phil Gram slipped it in to a "Must pass, Appropriations Bill" in the middle of the night....in conference I believe, but not 100% certain on that...

The Bill was veto proof (2/3's of the senate and house supported it), bill clinton had no choice, but to sign this appropriations bill....Phil Graham KNEW THIS, that is why he slipped it in there....

the Slickster could have vetoed it on principle........oh that's right he has no principles does he?

 

[Chris]

This amendment did not come from Clinton.

It came from Phil Gramm.

Getting rid of the FDR's regulations is what caused the crash.

The firewalls worked for 60 years.