What is the Republican economic Plan?

[Revere]

You wanna watch their testimony?

 

[Revere]

My gift to the n00b.

[ame]http://www.youtube.com/watch?v=y4A0RuXhnQA&feature=related[/ame]

 

[Wry Catcher]

Are there any conservatives here who have a brain or is Revere typical?

Revere is typical of the tea party mentality, simple solutions to complex problems and anarchy lite. In a certain respect he is like the tin man, but also like the cowardly lion; so, I suppose yes, he is typical of a fringe conservative.

 

[LiberalNut]

Hey Revere, in what year did that testimony take place?

 

[Revere]

Democrats "plan" is nothing but more unustainable entitlement.

 

[Revere]

Hey Revere, in what year did that testimony take place?

Who cares?

If you are trying to say Bush and the Rebpublicans in Congress at that time were no better than a Democrat, you won't get an argument out of me.

Happy?

 

[LiberalNut]

Who cares?

Well, obviously not you. Tell me, was there a crisis at Fannie or Freddie at the time of that testimony?

 

[Douger]

World War 3.

 

[Revere]

Yeah, government knowingly rammed hundreds of billions in garbage mortgages into the secondary market. Republicans and Democrats were indistinguishable in that regard.

Because homeownership is an entitlement.

Can you envision another scenario where loans are made to unqualified buyers and that does not happen?

I can't.

 

[LiberalNut]

government knowingly rammed hundreds of billions in garbage mortgages into the secondary market.

No matter how many times you repeat this blatant lie, it will continue to be nothing but a blatant lie.

Can you envision another scenario where loans are made to unqualified buyers and that does not happen?

I don't need to envision it. I can look at what actually happened. Unsurprisingly enough, it's the same thing that happened when Reagan deregualted the S&Ls and the same thing that happened before government regulated the financial industry before the Great Depression.

You see, there are actual facts to be worked with, though you show no interest in them. There is a thing called the credit cycle. When income and wealth are distributed too much toward the high end, credit/debt is the only thing that can sustain consumption because of the disparities in propensities to consume. As the credit cycle reaches it's peak, you know, as middle class folks simply can't borrow any more , there is increased incentive for financial institutions to engage in underwriting ever riskier loans. Finally, especially in the lack of government regulation, the ponzi scheme which is the credit market falls apart. There are ample examples of this happening thoughout history and if you bothered to read actual history rather than polluting your mind with right wing propaganda, you might get a clue.