Is the GOP intentionally preventing a recovery?

[Mr.Nick]

Because the "stimulus" was nothing more than a union bailout....

Ding, ding, ding, we have a winner. I always love how the left do what they want for their own purposes then blame other people for why they had to do it and claim it was for someone else.

They learned the "blame game" from "The Naked Communist."

Progressives are intellectually sheep.

 

[Chris]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

 

[Toddsterpatriot]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

$516 trillion? So what?
You can't even explain what a derivative is let alone why they supposedly caused the crash.

 

[daveman]

When are the Republicans in the House going to introduce a jobs bill, Dave?

Yes, Dave; inquiring minds want to know.

A GOP jobs bill would entail removing much of the burdensome and redundant government regulation of business. And before you both start screeching mindlessly, no, that doesn't mean I want companies to be able to poison the air and water to kill their customers and maximize profit.

A GOP jobs bill would entail removing this Administration's hostility towards business. I don't know how they could do that.

Because those are two issues keeping companies from hiring.

Perhaps if the Papa Obama and the Left stopped looking at the productive
forces in this country as something to loot and as something to promote, we would all be better off

The Left should call themselves the "Looting Class"

Aside from the unions and the trial lawyers, none of the Democrat special interests has any money -- that the taxpayers didn't give them first, that is.

 

[daveman]

When are the Republicans in the House going to introduce a jobs bill, Dave?

Yes, Dave; inquiring minds want to know.

A GOP jobs bill would entail removing much of the burdensome and redundant government regulation of business. And before you both start screeching mindlessly, no, that doesn't mean I want companies to be able to poison the air and water to kill their customers and maximize profit.

A GOP jobs bill would entail removing this Administration's hostility towards business. I don't know how they could do that.

Because those are two issues keeping companies from hiring.

Dave don't waste your common sense approach on the partisan morons

I know. Common sense isn't all that common in leftists.

 

[daveman]

Do you deny the Red Baiting which has been on-going since President Obama recieved the nominaitoin? Calls of "Socialist" and "Marxist" and "Commie" not only from the intellectually challenged who frequent this MB, but from the mouth of Rush Limbaugh, Sean Hannity, and Republcians elected to national office?

Criticizing a black isn't racist, treating a black differently BECAUSE they are black is racist. OMG, you just called a black a socialist, you're racists. Um...we call the white liberals socialists too because they are. If you advocate socialism, you just might get called a socialist regardless of if you are a white male or not. You are here saying we have to not call him a socialist because he's black, we need to treat him differently then whites, and you call US racists?

Treating people differently due to their skin color is racist?

Oh, you mean like Affirmative Action.

No, no, that's different! Somehow! It just is! /leftist

 

[Chris]

As we celebrate year three of the Great Financial Crisis with the first official bailout of an entire country (Greece), I’m still astounded by the complete and utter lack of coverage the underlying cause of this Crisis has received.

Tens of thousands, if not hundreds of thousands of articles and research reports have been written about the Crisis, and yet I would wager less than 1% of them actually bother talking about what caused it, let alone how the various efforts to stop it have in fact FAILED to address this key issue.

Remember back in 2007? At that time we were told it was all about Subprime mortgages. Then in 2008, we were told it was the investment banks, specifically Lehman Brothers’ (LEHMQ.PK) failure and AIG’s credit default swaps. In 2009, we were told it was poor accounting standards and bad bets made by Wall Street. And here we are in 2010, and we’re still being told it was simply bad bets made by Wall Street.

All of these answers are partially right, but none of them are totally 100% accurate. Why? Because they fail to address the one underlying issue that links ALL of these items. I’m talking about the Black Hole of Finance: a bottomless pit that no official or regulator bothers mentioning in public because acknowledging it would mean acknowledging that all of the efforts to stop the Crisis are truly paltry.

What caused the Crisis?

Derivatives.

You’ve probably heard this term before, or have some vague understanding of what the term means. But the actual reality of derivatives and what they represent for the financial markets remains a topic no one in the mainstream media (or the regulators for that matter) wants to touch.

Why?

Let’s do some quick math.

If you add up the value of every stock on the planet, the entire market capitalization would be about $36 trillion. If you do the same process for bonds, you’d get a market capitalization of roughly $72 trillion.

The notional value of the derivative market is roughly $1.4 QUADRILLION.

I realize that number sounds like something out of Looney tunes, so I’ll try to put it into perspective.

$1.4 Quadrillion is roughly:

-40 TIMES THE WORLD’S STOCK MARKET.

-10 TIMES the value of EVERY STOCK & EVERY BOND ON THE PLANET.

-23 TIMES WORLD GDP.

What’s a derivative?

As their name implies, derivatives are securities whose value is “derived” from an underlying asset (a mortgage, credit card debt, etc). A lot of smart people have tried to explain what these things are, but they usually miss the forest for the trees. A derivative is NOT an asset. It’s, in reality, nothing, just an imaginary security of no tangible value that banks/ financial institutions trade as a kind of “gentleman’s bet” on the value of future risk or securities.

Let me give you an example. Let’s say you and I want to bet on whether our neighbor Joe will default on his mortgage. Is the bet an asset? Does it have any real value? Both counts register a definite “no.”

That’s the rough equivalent of a derivative. There are dozens of different types of these things based on just about everything under the sun. Some derivatives are actually derived off the value of other derivatives, a fact that makes my head hurt every time I think about it.

The other thing you need to know about derivatives is that they are totally unregulated. There is no derivative clearing house. No official report explains the risk or actual value of these things (the notional value of the derivatives market is not the same thing as the actual "at risk" money underlying these securities: I'll detail all of this in tomorrow's essay).

Why Derivatives Caused Financial Crisis - Seeking Alpha

 

[daveman]

No genius, calling someone a "Marxist" is Red Baiting.

So it IS about color!

Everything is about color to you, KKKaveman.

No, I am not a leftist, Retardo. I believe in treating people all the same.

You don't. You think different races should be treated differently. You're a racist.

 

[daveman]

If you want to be taken seriously you'll need to forego idiotgrams and posting emoticons and offer something of substance. If not continue to be seen as a fool.

Good luck with that.

You guys are so stupid, I just put it on a level you can understand.

You have yet to refute the things Ive said.

Dood...you're talking to people who think "Nuh-UH!!!" is a clear, well-thought-out refutation.

 

[kaz]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

 

[Chris]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

 

[daveman]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

Yeah, Bush's debt was awful.

But Obama's debt is good and righteous and holy.

Right, Chris?

 

[Political Junky]

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

Yeah, Bush's debt was awful.

But Obama's debt is good and righteous and holy.

Right, Chris?

Obama added Bush's wars and drug plan which were previously not on the budget. That's $Trillions.

 

[Chris]

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

Yeah, Bush's debt was awful.

But Obama's debt is good and righteous and holy.

Right, Chris?

No, but Obama had the disadvantage of an economy going into a deflationary spiral.

The goverment MUST be the demand of last resort in a deflationary spiral.

Now what Obama will do is allow the Bush tax cuts to expire at the end of 2012.

That will take care of a lot of the debt problem.

 

[mudwhistle]

Some people are saying no, see the 'argument' against, here:

Schumer's conspiracy theory: GOP sabotaging recovery | David Freddoso | Beltway Confidential | Washington Examiner

The evidence suggests Schumer's on to something. The House of Representatives has offered no debate on the issue of unemployment and has passed only 18 bills since taking control in January. 15 of those bills were passed to name federal buildings after someone. This do-nothing congress sees no urgency as millions of Americans are out of work, work one or two or three part time jobs simply to pay rent or the morgage on a home underwater.

The GOP leadership in both houses of congress has opposed all efforts by the president, and even turned down an offer by President Obama to reduce the payroll tax for businees. It seems ideology is only an excuse, the real reason is their lust for power.

I wouldn't make a habit of listening to Chuck You Schumer.

 

[oreo]

Some people are saying no, see the 'argument' against, here:

Schumer's conspiracy theory: GOP sabotaging recovery | David Freddoso | Beltway Confidential | Washington Examiner

The evidence suggests Schumer's on to something. The House of Representatives has offered no debate on the issue of unemployment and has passed only 18 bills since taking control in January. 15 of those bills were passed to name federal buildings after someone. This do-nothing congress sees no urgency as millions of Americans are out of work, work one or two or three part time jobs simply to pay rent or the morgage on a home underwater.

The GOP leadership in both houses of congress has opposed all efforts by the president, and even turned down an offer by President Obama to reduce the payroll tax for businees. It seems ideology is only an excuse, the real reason is their lust for power.

Nice try--but the Democrat lead senate has not passed a bill in over 800 DAYS--in fact it was DEMOCRATS that was to have this years budget done--with Nancy Pelosi in office last October--but left that up to the new house to do. They also could have "raised the debt" ceiling last year--but decided to wait out of political reasons.

There is no republican sitting in the White House--and while Barack Obama is continually on his campaign trail talking about raising taxes--he was willing to let social security go down the toilet-by not having American workers/and employers pay into it.

This country has elected an economic moron in Barack Obama.

 

[kaz]

The Republicans destroyed our economy by allowing Wall Street to run a $516 trillion dollar derivative Ponzi scheme.

They also created 93% of the National Debt by starting two wars and lowering taxes for the rich.

Now they are shocked, shocked I say, that we have high unemployment and debt.

The GOP is the biggest piece of shit on the planet.

This is a demonstration of the point we just made. "Wall Street" didn't fail, some companies did. Then you (the left) bail them out, force them to play by your rules and control Wall Street. Our solution would have been to let the firms that failed fail. But you use it to expand government control, which you wanted anyway, and blame the people who don't support and didn't want what you did.

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

Addressing your post was deflecting? Sure it was Chris. The policy started under Clinton to force firms to make "sub prime" loans, Barney Frank oversaw the process, "Congress" was controlled by Democrats and George Bush is no conservative and it was all repeated and expanded under Obama. And so you know, "Wall Street" isn't a firm, it's a collection of them. Some were responsible, some weren't. As is the discussion, once again government saved the ones that were not responsible with money earned by other people which then got to compete with other people's money against the firms that were responsible.

Again, you do what you wanted for the end you wanted and blame the victim and people who didn't support or want your policy. Nice try deflecting that.

 

[oreo]

Actually Bush and Congress bailed them out.

But as I said, Bush's SEC allowed Wall Street to run a Ponzi scheme.

And Bush lowered taxes for the rich, started two unfunded wars and a trillion dollar Medicare drug program, all of which doubled the National Debt.

Nice try at deflecting, however.

Yeah, Bush's debt was awful.

But Obama's debt is good and righteous and holy.

Right, Chris?

No, but Obama had the disadvantage of an economy going into a deflationary spiral.

The goverment MUST be the demand of last resort in a deflationary spiral.

Now what Obama will do is allow the Bush tax cuts to expire at the end of 2012.

That will take care of a lot of the debt problem.

The Bush tax cuts expiring--won't even put a scratch into the debt problem! But it will raise everyone's taxes and when I say everyone--that's exactly what I mean.



1 billion dollars--$100.00 bills stacked on palets.



1 trillion dollars--$100.00 bills stacked on palets. NOTE--how small the man is in this chart.

If the Bush tax cuts never happened--we would have had an additional 2.3 TRILLION in the treasury--but judging that the deficit will be increasing to 21 TRILLION in 10 years--you can look at the trillion dollar chart and multiply that by 21---

 

[kaz]

No, but Obama had the disadvantage of an economy going into a deflationary spiral.

The goverment MUST be the demand of last resort in a deflationary spiral.

Now what Obama will do is allow the Bush tax cuts to expire at the end of 2012.

That will take care of a lot of the debt problem.

Admit it, you make this shit up as you go

 

[hellofromwarsaw]

"Maybe Pubs are just incredibly stupid and irresponsible." Certainly the ones on here are....Don't you realize history began 1/20/2011?