Stock market will crash in 60 days...

[The Duke]

Bush didn't give people money for their stock market losses.

Nah, he bailed out the big banks.

They grew exponentially as a result.

What should have happened is let them fail and pay off the depositors first, not the executives.

 

[The Duke]

Like increased infrastructure spending, lowered prescription drug costs and sub 4% unemployment.

Double grocery prices, 50% higher power bills, and rising cost of housing.

 

[sparky]

anyone recall all the rhetoric before the last crash? ~S~

 

[Dagosa]

Idk, who can predict the future?

Your buddies at QAnon

Double grocery prices, 50% higher power bills, and rising cost of housing.

Double ? Thats an exaggeration. They weren’t even available during the Trump led recession. you seem to be living in a time warp repeating Fix News shit that is no longer true.

 

[Dagosa]

What should have happened is let them fail and pay off the depositors first, not the executives.

Hilarious. Big banks which are allowed to fail WILL NOT be paying off depositors. The FDIC insurance is Fed, not the big banks.

 

[The Duke]

Sorry chummy - I ain't got the time, so go back to high-school and ask your 10th grade economics class teacher to explain it to you.

“Not one major Wall Street executive went to jail for destroying our economy in 2008 as a result of their greed, recklessness and illegal behavior. No. They didn’t go to jail.
They got a trillion-dollar bailout.”

When Fed bailout programs first became public, just six banks — JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley — were the recipients of 63 percent of the Fed’s average daily borrowing, representing about a half-trillion dollars at peak periods just for those firms.

Those Fed dollars were doled out through an alphabet soup of different programs (the TAF, the TALF, the TSLF, the TOP, the PDCF, the Maiden Lanes, etc.) and were used to execute major restructurings of the economy. The Fed put up $30 billion to help Chase buy the hulk of Bear Stearns, helping further by buying up $29 billion in bad assets from the dying investment bank.

Citigroup was borrowing $100 billion from the Fed at its peak, Morgan Stanley $107 billion. Fed money was used to broker Bank of America’s absorption of Merrill Lynch and help Wells Fargo buy up Wachovia, in addition to other mergers. At the end of all the rearranging, the 12 largest banks in the country — which had all contributed massively to the crisis and had maybe a week to live when the crash happened, as Bernanke testified — suddenly controlled 70 percent of all bank assets in the United States.

Stop wasting my time with with infantile unsubstantiated one-liner reply's.

And THAT'S how it was.

All those big banks should have been let to fail and the depositors paid off first.

What was done did major and lasting damage to our country's financial system.

 

[The Duke]

Your buddies at QAnon

Double ? Thats an exaggeration. They weren’t even available during the Trump led recession. you seem to be living in a time warp repeating Fix News shit that is no longer true.

More than double on some items, you fucking moron.

 

[The Duke]

In 1987 I was 26, and pretty much ignorant to investing and past market performance.
The point is, the Market Ups and Downs have ALWAYS benefited the continual participant.

In 1987 you could pay your housing cost for 1 month with 1 weeks' worth of work.

The next paycheck was for food and utilities, then the next 2 you could save or spend.

People coming up in America today do not have it like that, and that needs to be fixed.

Damn government and corporations are taking a larger percentage out of peoples' pockets than in 1987.

 

[Winco]

In 1987 you could pay your housing cost for 1 month with 1 weeks' worth of work.

My current housing costs:
Mortgage
Insurance
Utilities
Taxes. is about $2,000 per month.

I can pay that with ONE weeks pay.
What's changed?

 

[The Duke]

My current housing costs:
Mortgage
Insurance
Utilities
Taxes. is about $2,000 per month.

I can pay that with ONE weeks pay.
What's changed?

It hasn't changed for me, either, but..for people coming up now, that is not the case.

Oh, btw utilities is not grouped into housing. It's housing, then utilities and food.

 

[Toddsterpatriot]

Nah, he bailed out the big banks.

They grew exponentially as a result.

What should have happened is let them fail and pay off the depositors first, not the executives.

What should have happened is let them fail and pay off the depositors first, not the executives.

That would have been awesome!!!
We'd have had trillions in losses, instead of tens of billions in gains on the bailout.

 

[Dagosa]

More than double on some items, you fucking moron.

Oh, now it’s some items…I GUESS YOU DO YOUR SHOPPING at the Fix News channel. I’ll tell you what’s Fking expensive, trumps trinkets ! Do you buy any of that overpriced shit ?

 

[Dagosa]

More than double on some items, you fucking moron.

You’re the moron. Does 2.4% sound like doubling dufus.
Straight from the department of labor. . Gov.
“The average price of food in the United States rose 2.4% in the 12 months ended April, slowing some from the previous 3.5% increase, according to the latest inflation data published May 12, 2021 by the U.S. Labor Department’s Bureau of Labor Statistics ( BLS ).”
Then, still not doubling in 2022 Bubba.
“cost of eggs has soared 38%, and prices for other goods have also jumped: Flour is up 22.7%, chicken 17.6%, milk...”

 

[westwall]

What should have happened is let them fail and pay off the depositors first, not the executives.

That would have been awesome!!!
We'd have had trillions in losses, instead of tens of billions in gains on the bailout.

The problem is that the longer you put the reckoning off, the harder the collapse.

 

[Toddsterpatriot]

The problem is that the longer you put the reckoning off, the harder the collapse.

Sure. Trillions in bank losses caused by liquidating them in the midst of a collapse in asset prices
probably isn't the kind of reckoning that would be a benefit to the nation.

 

[Dagosa]

The problem is that the longer you put the reckoning off, the harder the collapse.

You guys are so uninformed. FDIC insured means the tax payers pay losses incurred by the bank and paid to the depositors.

 

[Toddsterpatriot]

You guys are so uninformed. FDIC insured means the tax payers pay losses incurred by the bank and paid to the depositors.

The FDIC is funded by the banks, not the taxpayers.

 

[Dagosa]

The FDIC is funded by the banks, not the taxpayers.

Really? Take wild guess where these finds the bank pays out comes from.

 

[Toddsterpatriot]

Really? Take wild guess where these finds the bank pays out comes from.

It's a bank expense. The banks pay it.

Where do you feel it comes from?

 

[Dagosa]

It's a bank expense. The banks pay it.

Where do you feel it comes from?

Where does the bank get their money for all expenses.