Will 2015 = 2008?

[Dad2three]

Few would dispute the fact that when Fannie Mae collapsed it brought down the entire economic system worldwide. Who was in charge of Fannie Mae at the time? The powerful chairman of the House Banking committee had oversight responsibility for Fannie Mae and he told Americans that "Fannie was doing fine" when it was on the verge of collapse. Strangely enough the entity we have come to know as the "justice dept" has never asked Rep. Barney Frank the important questions and there is yet to be a Congressional hearing on the Fannie Mae collapse.

I'll wait patiently for your response to your right wing crap on F/F....

So the Democrats are the tightwads and the Republicans are the big spenders (especially the Tea Party)? Hmm…

Meanwhile (back on Earth) the entire push behind the CRA was to increase home ownership among minorities (who more often had lower credit scores). This extra purchasing power at the lower end boosted all real estate into an overvalued bubble. Bush could have done more to slow this down, but all of his critics would have then labeled him a racist. Sound familiar?

CRA had little to do with the Subprime Crisis. Less than 6% of all foreclosures since 2006.


Government has encouraged home ownership for decades; why suddenly in 2002-07 was it so important?


STATEMENT OF ADMINISTRATION POLICY

The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.

George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005

Yes, he said he was against it because it "would lessen the housing GSEs' commitment to low-income homebuyers".


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.”



One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

 

[william the wie]

We're gettin' closer everyday.........

S&P 500 was flat for most of the beginning of the year but is up over 5% since you cashed out your 457 in April. Are you at all angry that you managed to miss out on most of this year's gains by yanking all your money in and out of the market based on your prediction?

Haven't cashed yet. Was going to this next week (July). Since the mid-terms are coming up and all kinds of free shit is gonna be promised by both parties, I'm hanging in there until the run-up to the elections as the market should at least hold steady til then.

That sir is stupid. 7/1/14 is the drop dead date for compliance with a whole host of new financial regulations. So, the market should start dropping very soon. You know like tomorrow. If you want my input use the mention function. I have two writing projects going and it is rebalancing time for me but I do check in on USMB daily.

If you think you are right on this call then as soon as the market opens get into cash.

 

[B. Kidd]

S&P 500 was flat for most of the beginning of the year but is up over 5% since you cashed out your 457 in April. Are you at all angry that you managed to miss out on most of this year's gains by yanking all your money in and out of the market based on your prediction?

Haven't cashed yet. Was going to this next week (July). Since the mid-terms are coming up and all kinds of free shit is gonna be promised by both parties, I'm hanging in there until the run-up to the elections as the market should at least hold steady til then.

That sir is stupid. 7/1/14 is the drop dead date for compliance with a whole host of new financial regulations. So, the market should start dropping very soon. You know like tomorrow. If you want my input use the mention function. I have two writing projects going and it is rebalancing time for me but I do check in on USMB daily.

If you think you are right on this call then as soon as the market opens get into cash.

As usual, I value your input.....thanks.

 

[Dad2three]

Few would dispute the fact that when Fannie Mae collapsed it brought down the entire economic system worldwide. Who was in charge of Fannie Mae at the time? The powerful chairman of the House Banking committee had oversight responsibility for Fannie Mae and he told Americans that "Fannie was doing fine" when it was on the verge of collapse. Strangely enough the entity we have come to know as the "justice dept" has never asked Rep. Barney Frank the important questions and there is yet to be a Congressional hearing on the Fannie Mae collapse.

I'll wait patiently for your response to your right wing crap on F/F....

So the Democrats are the tightwads and the Republicans are the big spenders (especially the Tea Party)? Hmm…

Meanwhile (back on Earth) the entire push behind the CRA was to increase home ownership among minorities (who more often had lower credit scores). This extra purchasing power at the lower end boosted all real estate into an overvalued bubble. Bush could have done more to slow this down, but all of his critics would have then labeled him a racist. Sound familiar?

After I demolish your talking point, you decide to run away?

 

[B. Kidd]

No.

Also, if you want to lose all your money, listening to Zero Hedge is a good way to do it.

ZH was 5 years ahead of the curve concerning HFTs, but they do get carried away concerning the predictive power of the VIX.

 

[jwoodie]

I'll wait patiently for your response to your right wing crap on F/F....

So the Democrats are the tightwads and the Republicans are the big spenders (especially the Tea Party)? Hmm…

Meanwhile (back on Earth) the entire push behind the CRA was to increase home ownership among minorities (who more often had lower credit scores). This extra purchasing power at the lower end boosted all real estate into an overvalued bubble. Bush could have done more to slow this down, but all of his critics would have then labeled him a racist. Sound familiar?

After I demolish your talking point, you decide to run away?

(Nope, computer crashed.) Let's see if I understand your point: The housing crash (which froze lending and the economy due to asset requirements) was caused solely by independent business decisions and NOT by any government actions? Well, that's a relief; it couldn't have been Bush's fault!

Back to basic macroeconomics: If the government establishes a price it will pay for a commodity (like $35/oz. during the Gold Standard), that becomes the de facto base price of that commodity even in private transactions. Likewise, when Fannie and Freddie established minimal standards for loans they would buy, they became de facto standards for private lenders as well. Furthermore, "voluntary compliance" with these standards became a requirement for financial institutions applying to the government for permission to expand or merge their operations. You can't set the rules of the game and then blame someone else for complying with them.

 

[B. Kidd]

U.S. manufacturing orders have declined 6 months in a row. Prediction is on track.

Chart Of The Day Recession Dead Ahead Zero Hedge

 

[william the wie]

U.S. manufacturing orders have declined 6 months in a row. Prediction is on track.

Chart Of The Day Recession Dead Ahead Zero Hedge

I agree but for different reasons.

Lately many commentators have been pointing out that China's XM numbers indicate that their GDP figures are inflated by more than 3 times. Given all the ways GDP can be gimmicked that does not necessarily involve outright lying.

The reported use of margin in US markets is dropping rapidly but that does not include off the books margin, which could mean literally anything, but generally that means a correction is coming and possibly a crash. 2017 has a much higher probability of a crash.

 

[SteadyMercury]

U.S. manufacturing orders have declined 6 months in a row. Prediction is on track.

What prediction? You seem to be one of those people who always talks about having gotten out of the market or how everyone should sell when market reaches x, then when the market doesn't crash and keeps on rising you're suddenly saying oh yeah I didn't actually get out of the market, but I will soon.

You talked about cashing out in April. Then you talked about holding on until the run-up to the elections. Both of those would have made you miss nice gains, yet I bet you have somehow managed to not get out of the market right?

You want funny? How about from Sep 2012:

I do think the market is going over 14,000, tho'. If you don't sell then, as savvy as you are, you'll be just another greedy loser.
Jus' my advice.......

Let me guess, you didn't actually cash out at 14k like you talked about and miss the ensuing march to 18k. You ignored your own advice right?

How about you from April 2013:

I just cashed out the other day. Sell high, buy low my mantra.

So you "cashed out" (yet again?) at 14.7k, and the DJIA closed the year at 16.5k. Nice cash out, but I'm sure you'll have the usual revisionist thing where you didn't actually cash out.

From same timeframe April 2013:

Market may go a lil' higher, but if it hits 15,500 or higher, I'll eat fatso Kim Kardishians' panties (not really).

Of course it took all of three months to his 15.5k in July.

Apparently all you do is constantly cash out while the market has risen.

 

[SteadyMercury]

June 2013:

Market below 15K today. (200+ pt. selloff)
I took my money an' ran.

Again DJIA closed 2013 at 16.5k.

Lemme guess, you didn't actually run, you got those gains?

 

[william the wie]

June 2013:

Market below 15K today. (200+ pt. selloff)
I took my money an' ran.

Again DJIA closed 2013 at 16.5k.

Lemme guess, you didn't actually run, you got those gains?

June 2013:

Market below 15K today. (200+ pt. selloff)
I took my money an' ran.

Again DJIA closed 2013 at 16.5k.

Lemme guess, you didn't actually run, you got those gains?

Hey, I get my best hedges from listening to people who don't listen to themselves.

 

[iamwhatiseem]

A healthy economy must have a diverse economy.
We do not.
Six of the ten largest employers in America are restaurant and retail chains.
Underemployment has never been this bad. The part-time to full-time ratio has never been this bad.
An economy is like a living body. The whole body must be healthy in order for it's potential to be reached. Today we have a very, very, very small part of our economy doing well. The rest are doing worse.
The nations top 7% earners in America have realized an amazing 30% earnings increase. The remaining 97% of working Americans have suffered a 5% LOSS.
Something is wrong with that picture.

 

[OnePercenter]

Following the Republican manifesto of pounding the middle class into the ground financially, the reporter may be correct.

 

[OnePercenter]

Here's the answer:


-Base Federal tax for corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-offs/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

 

[iamwhatiseem]

Following the Republican manifesto of pounding the middle class into the ground financially, the reporter may be correct.

I usually don't do this...but damn.
This post is so typical of what is wrong with America.
This incredibly myopic-party centric view of everything is exactly why we have lost this country to corporatist and special interest.
It is just f*cking STUPID to think that one party (this time claiming Republican) is the only party doing damage to the middle class.
Hello moron!!! Anyone home????
What has this administration done for the middle class, vs what VERY BENEFICIAL things have they done to benefit the investment class and Wall Street??
President Obama has been the greatest friend to Wall Street than any other President - PERIOD.
And you are so stuck in your one-sided partisan bullshit for brains to see it.

 

[william the wie]

Following the Republican manifesto of pounding the middle class into the ground financially, the reporter may be correct.

I usually don't do this...but damn.
This post is so typical of what is wrong with America.
This incredibly myopic-party centric view of everything is exactly why we have lost this country to corporatist and special interest.
It is just f*cking STUPID to think that one party (this time claiming Republican) is the only party doing damage to the middle class.
Hello moron!!! Anyone home????
What has this administration done for the middle class, vs what VERY BENEFICIAL things have they done to benefit the investment class and Wall Street??
President Obama has been the greatest friend to Wall Street than any other President - PERIOD.
And you are so stuck in your one-sided partisan bullshit for brains to see it.

Get used to it. Last time I checked the 16-18 different trillion dollar economies as of 2011 only one had Democrat or Republican parties. Also unless you check the overseas business news you are clueless.

 

[iamwhatiseem]

Following the Republican manifesto of pounding the middle class into the ground financially, the reporter may be correct.

I usually don't do this...but damn.
This post is so typical of what is wrong with America.
This incredibly myopic-party centric view of everything is exactly why we have lost this country to corporatist and special interest.
It is just f*cking STUPID to think that one party (this time claiming Republican) is the only party doing damage to the middle class.
Hello moron!!! Anyone home????
What has this administration done for the middle class, vs what VERY BENEFICIAL things have they done to benefit the investment class and Wall Street??
President Obama has been the greatest friend to Wall Street than any other President - PERIOD.
And you are so stuck in your one-sided partisan bullshit for brains to see it.

Get used to it. Last time I checked the 16-18 different trillion dollar economies as of 2011 only one had Democrat or Republican parties. Also unless you check the overseas business news you are clueless.

What are you mumbling about?

 

[SteadyMercury]

Hey, I get my best hedges from listening to people who don't listen to themselves.

I wasn't referencing listening to one's self, I'm directing at the posters around here who are constantly warning to get out of the market, then when their prediction of doom doesn't pan out they suddenly claim they actually stayed in so caught the same profits as the rest of us.

It smells like bullshit, all they are doing is hoping to be the broken clock then we'll hear it about how they predicted it, when they really didn't.

 

[SteadyMercury]

A healthy economy must have a diverse economy.
We do not.
Six of the ten largest employers in America are restaurant and retail chains.

Largest employers (head count) is a very poor metric to measure diversity of an economy, as some industries by their nature have more employees.

What country do you consider having a healthy economy?

 

[EdwardBaiamonte]

Here's the answer:

-Base Federal tax for corporations at 30% of revenue.

good idea if you want to drive every corporation out of the US or if you want prices to rise by 50%.

See why we say liberalism is based in pure ignorance. Is any other conclusion possible?