Economic Fallacies Libs Believe

[The Rabbi]

Reagan began exporting manufacturing jobs overseas.

Reagan was a CEO? Of what corporation?

Silly myths RWs believe.

Do you not believe Reagan was responsible for off shoring jobs?

Funds are offshored.

Jobs are outsourced.

Ask your question so that it makes sense.

Even when you try to be a douchebag you manage to fail at that.
Offshoring Work Is Taking a Toll on the U.S. Economy

 

[LeftofLeft]

-Deregulation was responsible for the melt down

This is also a truth which continues to be denied by bumper sticker intellects.

The failure to regulate derivatives made the crash many times worse than it would have been.


I refer you to section 117 of the CFMA. To wit:

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

Someone should explain why banks needed exemptions from state gaming laws for casinos. Why does a bank need to be exempted from state laws prohibiting bucket shops?

Hmmmm...

Those in the know understand exactly why. The banks wanted fraud legalized. And later on, their apologists would ask stupid questions like, "What laws did they break when they ripped off their clients?"

Federal pre-emption of state regulatory laws is deregulation, by definition. And how come no states rights people screamed over this? Why didn't Fox News play some doom music and shout from the rooftops over this federal pre-emption of the states? Huh?

Hmmm...

Because it was pushed through by Phil Gramm, who also worked hard to make sure financial derivatives of mass destruction remained unregulated when others were calling for them to be regulated.

Credit default swaps (CDS), for example. They did not require an insurable interest. And to this day they do not.

That's nuts.

The failure to regulate CDS is the single largest factor in the meltdown of AIG, Lehman Brothers, and Bear Stearns.

The

-Deregulation was responsible for the melt down

This is also a truth which continues to be denied by bumper sticker intellects.

The failure to regulate derivatives made the crash many times worse than it would have been.


I refer you to section 117 of the CFMA. To wit:

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

Someone should explain why banks needed exemptions from state gaming laws for casinos. Why does a bank need to be exempted from state laws prohibiting bucket shops?

Hmmmm...

Those in the know understand exactly why. The banks wanted fraud legalized. And later on, their apologists would ask stupid questions like, "What laws did they break when they ripped off their clients?"

Federal pre-emption of state regulatory laws is deregulation, by definition. And how come no states rights people screamed over this? Why didn't Fox News play some doom music and shout from the rooftops over this federal pre-emption of the states? Huh?

Hmmm...

Because it was pushed through by Phil Gramm, who also worked hard to make sure financial derivatives of mass destruction remained unregulated when others were calling for them to be regulated.

Credit default swaps (CDS), for example. They did not require an insurable interest. And to this day they do not.

That's nuts.

The failure to regulate CDS is the single largest factor in the meltdown of AIG, Lehman Brothers, and Bear Stearns.

Watching you lapdogs for the liberal elite trash derivatives is comical. You site crashes and meltdowns of the US economy yet back all of the puppets of George Soros and the Wall Street elite who profited by betting against US and trying to destroy the Middle Class.

 

[the_human_being]

Here's what happened on January 1, 2015 thanks to the Obama Administration and the Democrats.

 

[Arianrhod]

Reagan began exporting manufacturing jobs overseas.

Reagan was a CEO? Of what corporation?

Silly myths RWs believe.

Do you not believe Reagan was responsible for off shoring jobs?

Funds are offshored.

Jobs are outsourced.

Ask your question so that it makes sense.

Even when you try to be a douchebag you manage to fail at that.
Offshoring Work Is Taking a Toll on the U.S. Economy

It's nice that CAP has just discovered that American jobs have been outsourced to China et al. The rest of us have been aware of this for quite some time.

Did you have a question?

 

[The Rabbi]

Reagan began exporting manufacturing jobs overseas.

Reagan was a CEO? Of what corporation?

Silly myths RWs believe.

Do you not believe Reagan was responsible for off shoring jobs?

Funds are offshored.

Jobs are outsourced.

Ask your question so that it makes sense.

Even when you try to be a douchebag you manage to fail at that.
Offshoring Work Is Taking a Toll on the U.S. Economy

It's nice that CAP has just discovered that American jobs have been outsourced to China et al. The rest of us have been aware of this for quite some time.

Did you have a question?

Yes. My question is why you still post to this forum when every exchange leaves you looking like an imbecile.