Democrats literally being inflated out of office.....Grocery and Gas trump all other issues by a mile.

[Ray From Cleveland]

Bush looked at the 2008 Recession like a Deer in the Headlights

He refused to take action till the election was over

Thankfully, Obama saved us

Bush was partly responsible but as my video clearly points out, so were the Democrats in their quest to put non-qualified people into their own houses. Minorities are not going to vote Republican by any significant numbers, those are all Democrat voters. They were catering to their base and the Republicans didn't put enough energy into stopping them.

I can admit when my people were wrong, the problem with you people on the left can't admit when any of your people are wrong.

 

[rightwinger]

Bush was partly responsible but as my video clearly points out, so were the Democrats in their quest to put non-qualified people into their own houses. Minorities are not going to vote Republican by any significant numbers, those are all Democrat voters. They were catering to their base and the Republicans didn't put enough energy into stopping them.

I can admit when my people were wrong, the problem with you people on the left can't admit when any of your people are wrong.

Sorry but blaming a Real Estate collapse on minorities who were hardly in the game does not cut it

The 2008 Housing Bust was a result of unchecked speculation and greed from the banks trying to churn business

 

[Ray From Cleveland]

Sorry but blaming a Real Estate collapse on minorities who were hardly in the game does not cut it

The 2008 Housing Bust was a result of unchecked speculation and greed from the banks trying to churn business

Banks conduct business according to government standards. So don't blame the banks, blame the government. Same holds true of minorities. If it's offered to you, you simply take what you can get. I'm not blaming minorities, I'm blaming the people who set the policy for them to end up in foreclosure.

 

[rightwinger]

Banks conduct business according to government standards. So don't blame the banks, blame the government. Same holds true of minorities. If it's offered to you, you simply take what you can get. I'm not blaming minorities, I'm blaming the people who set the policy for them to end up in foreclosure.

Sorry Skippy

But low income minorities lack the resources to trigger a massive real estate collapse. The money just ain’t there

The real estate collapse was triggered through unchecked speculation and greed

 

[Ray From Cleveland]

Sorry Skippy

But low income minorities lack the resources to trigger a massive real estate collapse. The money just ain’t there

The real estate collapse was triggered through unchecked speculation and greed

It was unchecked because those were the new government standards. 0 down and no credit check. Trust me, I was there. I had two tenants who bought houses with 0% down and no credit check.

Low income people can trigger a massive collapse when they are borrowing money they never had or could have had otherwise.

The seeds of the mortgage meltdown were planted during Bill Clinton’s presidency.

Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown aside. The phrase “subprime” became commonplace. What an understatement.

Are the Clintons the real housing crash villains?

Before Hillary rewrites history, let's look at how the Clintons contributed to the Great Recession, write Larry Kudlow and Stephen Moore.

www.cnbc.com

 

[Smokin' OP]

No.

We're talking about American products priced in US dollars $$$

WTF what would they be?
"Made in America"?
That's a cruel joke, most American goods use foreign-made goods use parts or raw materials needed to make those parts, aren't made, or no longer are made in America.
Then, American truckers are waking up, finally...................most realize, they're getting paid shit wages or getting ripped off by their employer, the road to the middle class, isn't getting paid on a per-mile basis.

 

[lantern2814]

400,000 jobs last month

Is that one of your signs?

NEGATIVE 1.4 GDP for 1st quarter of 2022 under the senile Xiden. Stock market plummeting. Inflation rising without an end in sight. There’s your sign.

 

[lantern2814]

Bush looked at the 2008 Recession like a Deer in the Headlights

He refused to take action till the election was over

Thankfully, Obama saved us

Now for the truth. Banks were being essentially forced to give loans to minority applicants who realistically had no way to make the payments. Under threat of fines or worse. Bush warned Congress repeatedly that the housing bubble was getting ready to burst. Only to have people like Barney Frank claim Bush was wrong and everything was just fine. Until it wasn’t. Then morons like you started blaming Bush. Just like you did when the dot com bubble burst on CLINTON. Bush took the hit as Slick Willy was on his way out the door when that happened.

 

[Smokin' OP]

It was unchecked because those were the new government standards. 0 down and no credit check. Trust me, I was there. I had two tenants who bought houses with 0% down and no credit check.

Low income people can trigger a massive collapse when they are borrowing money they never had or could have had otherwise.

The seeds of the mortgage meltdown were planted during Bill Clinton’s presidency.

Under Clinton’s Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.

These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down-payments by 2000. The phrase “subprime” became commonplace. What an understatement.

Are the Clintons the real housing crash villains?

Before Hillary rewrites history, let's look at how the Clintons contributed to the Great Recession, write Larry Kudlow and Stephen Moore.

www.cnbc.com

BS.

The 1999 repeal of the Glass-Steagall Act, which had prohibited commercial banks from undertaking investment banking operations (and vice versa).

The Gramm-Leach-Bliley act reversed the Glass-Steagall act.
The culprits?
ALL republicans.

Financial Services Act were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001.
Bush initiatives were the policies that made them.

What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown asid

That was George.

President Bush is issuing "America's Homeownership Challenge" to the real estate and mortgage finance industries to join in his effort to increase the number of minority homeowners by 5.5 million families by the end of the decade. Many organizations have already responded to the President's challenge by committing to:

• Substantially increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;
• Launching twenty-five different local initiatives across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;
• Raising $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas.

• Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
• 
  
• The Administration proposed the Zero-Downpayment Initiative to allow the Federal Housing Administration to insure mortgages for first-time homebuyers without a downpayment. Projections indicate this could generate over 150,000 new homeowners in the first year alone.

The President proposed $2.7 billion in USDA home loan guarantees to support rural homeownership and $1.1 billion in direct loans for low-income borrowers unable to secure a mortgage through a conventional lender. These loans are expected to provide 42,800 homeownership opportunities to rural families across America.

• President Bush signed the $200 million-per-year American Dream Downpayment Act which will help approximately 40,000 families each year with their downpayment and closing costs.

Two proximate causes were the rise in subprime lending and the increase in housing speculation. The percentage of lower-quality subprime mortgages originated during a given year rose from the historical 8% or lower range to approximately 20% from 2004 to 2006, with much higher ratios in some parts of the U.S.
A high percentage of these subprime mortgages, over 90% in 2006 for example, had an interest rate that increased over time.
Housing speculation also increased, with the share of mortgage originations to investors (i.e. those owning homes other than primary residences) rising significantly from around 20% in 2000 to around 35% in 2006–2007.
Investors, even those with prime credit ratings, were much more likely to default than non-investors when prices fell. These changes were part of a broader trend of lowered lending standards and higher-risk mortgage products.

Never had GSE's until BUSH allowed them.

 

[lantern2814]

BS.

The 1999 repeal of the Glass-Steagall Act, which had prohibited commercial banks from undertaking investment banking operations (and vice versa).

The Gramm-Leach-Bliley act reversed the Glass-Steagall act.
The culprits?
ALL republicans.

Financial Services Act were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001.
Bush initiatives were the policies that made them.

What’s more, in the Clinton push to issue home loans to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, low credit scores were disregarded, and income and job history was also thrown asid

That was George.

President Bush is issuing "America's Homeownership Challenge" to the real estate and mortgage finance industries to join in his effort to increase the number of minority homeowners by 5.5 million families by the end of the decade. Many organizations have already responded to the President's challenge by committing to:

• Substantially increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;
• Launching twenty-five different local initiatives across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;
• Raising $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas.

• Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
• 
  
• The Administration proposed the Zero-Downpayment Initiative to allow the Federal Housing Administration to insure mortgages for first-time homebuyers without a downpayment. Projections indicate this could generate over 150,000 new homeowners in the first year alone.

The President proposed $2.7 billion in USDA home loan guarantees to support rural homeownership and $1.1 billion in direct loans for low-income borrowers unable to secure a mortgage through a conventional lender. These loans are expected to provide 42,800 homeownership opportunities to rural families across America.

• President Bush signed the $200 million-per-year American Dream Downpayment Act which will help approximately 40,000 families each year with their downpayment and closing costs.

Two proximate causes were the rise in subprime lending and the increase in housing speculation. The percentage of lower-quality subprime mortgages originated during a given year rose from the historical 8% or lower range to approximately 20% from 2004 to 2006, with much higher ratios in some parts of the U.S.
A high percentage of these subprime mortgages, over 90% in 2006 for example, had an interest rate that increased over time.
Housing speculation also increased, with the share of mortgage originations to investors (i.e. those owning homes other than primary residences) rising significantly from around 20% in 2000 to around 35% in 2006–2007.
Investors, even those with prime credit ratings, were much more likely to default than non-investors when prices fell. These changes were part of a broader trend of lowered lending standards and higher-risk mortgage products.

Never had GSE's until BUSH allowed them.

Hey dumbfuck, who was President in 1999? Here’s a hint, it wasn’t George W. Bush. Oops.....

 

[Smokin' OP]

Now for the truth. Bush warned Congress repeatedly that the housing bubble was getting ready to burst.

As Buch and his regime reduced regulations allowing it to happen?

Only to have people like Barney Frank claim Bush was wrong and everything was just fine. Until it wasn’t. Then morons like you started blaming Bush. Just like you did when the dot com bubble burst on CLINTON. Bush took the hit as Slick Willy was on his way out the door when that happened.

So...................George took Barney's advice?

At the beginning of 2000, Fannie Mae unveiled the American Dream Commitment, which was a $2 trillion commitment to lend to underserved areas and to expand credit to non-traditional profiles. Since Fannie couldn’t securitize these loans, it had to place them on its balance sheet. It partnered with major lenders like Countrywide, Doral, and Bank of America and had an agreement: you originate subprime and Alt-A paper and we will commit to buy it.
Basically, Fannie Mae was doing an end-around its charter. Instead of using its balance sheet as a tool to stabilize the real estate market, it was using it as a profit center. The American Dream Commitment ended up turning Fannie Mae into the biggest mortgage arbitrage hedge fund on the Street.

When the real estate market began turning south, Fannie Mae found itself in trouble as the value of its mortgage-backed security portfolio began to take credit losses. While it was able to raise capital through preferred stock issuance, the uncertainty in the financial markets, the fact that Fannie hadn’t been able to release audited financial statements in years, and the realization that the real estate bubble had burst meant that Fannie couldn’t raise any more capital.
The government ended up taking Fannie into conservatorship, and agreed to fund any shortfalls. The government took over 79% of the equity, giving it control, but not forcing it to consolidate Fannie’s debt on the U.S. balance sheet.

 

[Smokin' OP]

Hey dumbfuck, who was President in 1999? Here’s a hint, it wasn’t George W. Bush. Oops.....

Doesn't fucking matter, who introduced the fucking bill, moron....................REPUBLICANS.
Just like them, Republicans blamed democrats for Bush invading Iraq.

 

[lantern2814]

Doesn't fucking matter, who introduced the fucking bill, moron....................REPUBLICANS.
Just like them, Republicans blamed democrats for Bush invading Iraq.

Poor baby. Just got caught looking like the dumbfuck you are. Hey asshole, did somebody put a gun to BILL CLINTON’S head and force him to sign it? Fuck off loser.

 

[lantern2814]

As Buch and his regime reduced regulations allowing it to happen?

So...................George took Barney's advice?

At the beginning of 2000, Fannie Mae unveiled the American Dream Commitment, which was a $2 trillion commitment to lend to underserved areas and to expand credit to non-traditional profiles. Since Fannie couldn’t securitize these loans, it had to place them on its balance sheet. It partnered with major lenders like Countrywide, Doral, and Bank of America and had an agreement: you originate subprime and Alt-A paper and we will commit to buy it.
Basically, Fannie Mae was doing an end-around its charter. Instead of using its balance sheet as a tool to stabilize the real estate market, it was using it as a profit center. The American Dream Commitment ended up turning Fannie Mae into the biggest mortgage arbitrage hedge fund on the Street.

When the real estate market began turning south, Fannie Mae found itself in trouble as the value of its mortgage-backed security portfolio began to take credit losses. While it was able to raise capital through preferred stock issuance, the uncertainty in the financial markets, the fact that Fannie hadn’t been able to release audited financial statements in years, and the realization that the real estate bubble had burst meant that Fannie couldn’t raise any more capital.
The government ended up taking Fannie into conservatorship, and agreed to fund any shortfalls. The government took over 79% of the equity, giving it control, but not forcing it to consolidate Fannie’s debt on the U.S. balance sheet.

Clueless. Just clueless.

 

[Smokin' OP]

Poor baby. Just got caught looking like the dumbfuck you are.

Sure.....................YOU just did, moron.

Hey asshole, did somebody put a gun to BILL CLINTON’S head and force him to sign it? Fuck off loser.

Moron, who put a gun to the head of Gramm?
Who put a gun to the head of Bliley?
Who put a gun to the head of Leach, for them to introduce the bill?

They were scared of being called RHINO's.

The House passed its version of the Financial Services Act of 1999 on July 1, 1999, by a bipartisan vote of 343–86, two months after the Senate had already passed its version of the bill on May 6 by a much narrower 54–44 vote along basically partisan lines (53 Republicans and 1 Democrat in favor; 44 Democrats opposed).

Regardless it was BUSH and his regime, that took the deregulation and put it on steroids.

 

[Smokin' OP]

Clueless. Just clueless.

That you are, a clueless fucking liar.

 

[Smokin' OP]

They are blissfully ignorant. They just believe what they're told in their world.

They just need a story that lets them simplistically point the finger at one (1) place. Once they have that, they just ignore/avoid everything else.

I wish they were just goofing around. But I don't think they are.

They are not, some blame Biden for one country invading another.
Just like they blamed Democrats for the US invasion of Iraq.

 

[Smokin' OP]

well not this president

Not any president, moron.
A republican could let the oil companies go hog wild with deregulating oil drilling on the US property it controls...........

The U.S. has more than 24 million acres under lease to oil and gas companies onshore — close to half are not producing.

Before drilling can occur, the lease holder has to get a federal permit. At the end of 2021, there were 9,173 approved and available permits to drill on federal and Indian lands. Those permits include those issued under Biden and those still active from Trump’s administration and potentially before.

The US government only controls 10% of ALL oil company property.
Of course, teabaggers aren't concerned with the other 90% the US government doesn't control.

 

[Smokin' OP]

No, he and the other Communists decided to pay people more money to stay home instead of work.

I know he did.

March 30 2020
Last week, U.S. President Donald Trump dangled the possibility of reopening the U.S. economy by Easter. Now he has changed his mind. At a White House Rose Garden briefing, Trump extended the current guidelines on social distancing until April 30, keeping the United States in line with measures taken by other nations gripped by the coronavirus pandemic to keep their populations at home.

Industry then had to compete with government TO attract workers.

Not even close.

Labor costs are the largest expenditures of any business, and those additional labor costs get passed down to the consumer.

No Shit.

Now with fuel prices transportation costs went up.

Sure, Biden told Warner, Swift and J.B. Hunt to raise prices.

We all know what we paid to stay warm last winter. What do you think the utility costs are for a business of 150 or more employees? That's right, all costs get passed down to us, thus inflation.

So, how did Biden cause that?
Biden told private companies to raise prices?

Greg Abbott MUST have done the same.

February 21 2019
Houston resident David Astrein, 36, a human resources director at a manufacturing company, said he’s been charged $2,738.66 for 20 days this month versus $129.85 for the whole of January for a three-bedroom home with a detached garage. He and his wife stopped using their dishwasher, washer and dryer, and turned on as few lights as possible at night. They kept the heat on for their 5-month old son.

After a deadly winter storm left millions in Texas without power this week -- along with shortages of food and clean water -- some Texans are now seeing exorbitant electricity bills.

The tabs run as high as $17,000, according to reports.

That's how much Ty Williams, a resident of Arlington, told FOX 4 of Dallas-Fort Worth his family was being asked to pay -- despite trying to conserve electricity during the storm.

"How in the world can anyone pay that? I mean you go from a couple hundred dollars a month," he told WFAA-TV in Dallas. "There’s absolutely no way‚ it makes no sense."

Williams was a customer of Griddy, a wholesale electricity provider in the state.

Abbott raised prices, now he wants the federal government $$$.

Texas Governor Greg Abbott held an emergency meeting Saturday with legislators to address the issue. Representative Michael McCaul, a Republican, said Sunday that the current plan is to use federal assistance funding to help homeowners with both post-storm repairs, such as for water damage and pipe bursting, and surprise electricity bills.

 

[Smokin' OP]

Yep.

Biden increases oil royalty rate and scales back lease sales on federal lands

The U.S. government will sharply boost royalty rates for companies as federal officials weigh efforts to fight climate change against pressure to bring down high gasoline prices.

www.npr.org

So.
The federal government only controls 10% of the US land oil companies drill on, and oil companies are only drilling on 50% of that.
What about the other 90%, they don't. control?

Republicans ignore that, it MUST be the 10% that is the tipping point for catastrophe.