The Obama Economy is BOOMING!

[Timmy]

GDP growth rate

Looks over 3% to me .

US GDP Growth Rate by Year

Date Value
Dec 31, 2015 2.91%
Dec 31, 2014 3.88%
Dec 31, 2013 4.05%
Dec 31, 2012 3.24%
Dec 31, 2011 3.64%
Dec 31, 2010 4.56%
Dec 31, 2009 0.11%
Dec 31, 2008 -0.92%
Dec 31, 2007 4.40%
Dec 31, 2006 5.12%
Dec 31, 2005 6.52%
Dec 31, 2004 6.31%
Dec 31, 2003 6.42%
Dec 31, 2002 3.76%

 

[Timmy]

We have the strongest economy in the world and our dollar is stronger than it has been in decades

While our gdp ain't gangbusters , it's higher than a lot of our first world comrades .

 

[edthecynic]

Lies, all lies.
Well at least you are consistent!

Show any of that to be untrue.

Dare ya.'

It's ALL untrue, and YOU know it.
CRA had nothing to do with Bush's housing bubble bursting and Frank and Dodd were POWERLESS MINORITY members of Congress, the GOP MAJORITY blocked ALL reform in committee!

"It's ALL untrue, and YOU know it.
CRA had nothing to do with Bush's housing bubble ..."

Watch me bury you:

a. Congress passed a bill in 1975 requiring banks to provide the government with information on their lending activities in poor urban areas. Two years later, it passed the Community Reinvestment Act (CRA), which gave regulators the power to deny banks the right to expand if they didn’t lend sufficiently in those neighborhoods. In 1979 the FDIC used the CRA to block a move by the Greater NY Savings Bank for not enough lending.

b. Clinton Administration housing secretary, Henry Cisneros, declared that he would expand homeownership among lower- and lower-middle-income renters. His strategy: pushing for no-down-payment loans; expanding the size of mortgages that the government would insure against losses; and using the CRA and other lending laws to direct more private money into low-income programs.

c. Pressuring nonbank lenders to make more loans to poor minorities didn’t stop with Sears. If it didn’t happen, Clinton officials warned, they’d seek to extend CRA regulations to all mortgage makers. In Congress, Representative Maxine Waters called financial firms not covered by the CRA “among the most egregious redliners.”

d. When in early 2000 the FDIC proposed increasing capital requirements for lenders making “subprime” loans—loans to people with questionable credit, that is—Democratic representative Carolyn Maloney of New York told a congressional hearing that she feared that the step would dry up CRA loans. Her fellow New York Democrat John J. LaFalce urged regulators “not to be premature” in imposing new regulations.
Obsessive Housing Disorder



Smashed another custard pie in your kisser, huh?

The good news: it improved your looks.

The CRA, as you well know, was about REDLINING, not sub-prime loans, as your own quote shoved your own foot into your own mouth of your custard pie covered face!
Thank you.

Ooooo......poor, suffering Leftist....no more "It's ALL untrue, and YOU know it.
CRA had nothing to do with Bush's housing bubble..."

Excellent...

Retreat further: there is no such thing as 'redlining'...unless you mean banks acting with the fiduciary responsibility they exercised before the CRA.

Stop lying....Democrat policy forced loans to people who should never have received them....hence....the Democrat housing bubble.


Memorize this:

1. 
   A NINJA loan is a slang term for a loan extended to a borrower with "no income, no job and no assets". Whereas most lenders require the borrower to show a stable stream of income or sufficient collateral, aNINJA loan ignores the verification process.

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

The Mortgage Fraud Scandal Is The Biggest In Human History

We have long known that lender fraud was rampant during the real estate boom. The FBI began warning of an “epidemic” of mortgage fraud as early as 2004. We know that mortgage originators invented “low doc” and “no doc” loans, encouraged borrowers to take out “liar loans”, and promoted “NINJA loans” (no income, no job, no assets, no problem!). All of these schemes were fraudulent from the get-go. Property appraisers were involved, paid to overvalue real estate. That is fraud. The securitizers packaged trash into bundles that ratings agencies blessed with the triple A seal of approval. By their own admission, raters worked with securitizers to provide the rating desired, never looking at the loan tapes to see what they were rating. Fraud. Venerable investment banks like Goldman Sachs packaged the trashiest securities into collateralized debt obligations at the behest of hedge fund managers--who were allowed to choose the most toxic of the toxic waste—then sold the CDOs on to their own customers and allowed the hedge funds to bet against them. More fraud.

 

[dcbl]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Let's step back from the fact that you are a socialist America hater and i am a right-wing nutjob for a moment, shall we?

Do you really believe that "quota lending" had nothing to do with the real estate bubble bursting?

Home prices have recovered some, but were highly over inflated with too many buyers in the market that had no business being there

And no, it was not all about loans for minorities, it did have a lot to do with greed and over anxious brokers working for their commissions

If you thought the housing crash was fun, just wait until the house of cards that is built on the back of our stifling DEBT and budget deficits falls down...

 

[Timmy]

Do yourselves a favor and watch "the big short"

I know it's a movie, but I haven't heard anyone claim its all bullshit .

 

[dcbl]

Do yourselves a favor and watch "the big short"

I know it's a movie, but I haven't heard anyone claim its all bullshit .

sounds interesting, I will check it out...

 

[PoliticalChic]

Do yourselves a favor and watch "the big short"

I know it's a movie, but I haven't heard anyone claim its all bullshit .

Watch your voluntary Tourette syndrome.


The Big Short....
Best picture of the year.

Problem was it let government policy...the real cause of the meltdown, off the hook, and took the usual Liberal propaganda as fact.

But it was the best of filmmaking.

 

[edthecynic]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

 

[dcbl]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

I'm so sorry that your blind partisan hatred is preventing you from accepting that fact

 

[Timmy]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

I'm so sorry that your blind partisan hatred is preventing you from accepting that fact

The problem is thT they bundled those shit loans and then sold them as high quality loans . That was in the banks , not the government .

 

[Timmy]

So why vote for anyone other than Hillary - right?

Oh wait - let's look at some facts, those pesky little things that always seem to get in the way of the narrative spoon fed to us by our friends on the left...

#NeverHillary

Retail Sales in U.S. Decline After January Revised Down

U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, calling into question the narrative that bigger gains in consumer spending would propel economic growth at the start of 2016.

--

The median forecast in a Bloomberg survey called for a 0.2 percent drop in February, with estimates ranging from a decline of 0.7 percent to a 0.4 percent gain. January’s reading was initially reported as a 0.2 percent increase.

And let me add this:

1. Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%.
By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years." President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire


The very worst President in terms of effectiveness....Well, maybe second to FDR.

So this claim about never being higher than 3%. It's a lie .

My quick Google searching powers proved otherwise .

 

[PoliticalChic]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

I'm so sorry that your blind partisan hatred is preventing you from accepting that fact

The problem is thT they bundled those shit loans and then sold them as high quality loans . That was in the banks , not the government .

Take a step back and guess why they did it, who turned a blind eye to same.

 

[PoliticalChic]

So why vote for anyone other than Hillary - right?

Oh wait - let's look at some facts, those pesky little things that always seem to get in the way of the narrative spoon fed to us by our friends on the left...

#NeverHillary

Retail Sales in U.S. Decline After January Revised Down

U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, calling into question the narrative that bigger gains in consumer spending would propel economic growth at the start of 2016.

--

The median forecast in a Bloomberg survey called for a 0.2 percent drop in February, with estimates ranging from a decline of 0.7 percent to a 0.4 percent gain. January’s reading was initially reported as a 0.2 percent increase.

And let me add this:

1. Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%.
By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years." President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire


The very worst President in terms of effectiveness....Well, maybe second to FDR.

So this claim about never being higher than 3%. It's a lie .

My quick Google searching powers proved otherwise .

I never lie....but if you found proof that he had years with annual economic growth...you would have posted it.

You lie with metronomic regularity....I've caught you doing so...what..three...four times in this thread alone.

Read the following and repent.


1." No matter what happens in 2016, Obama's record on economic growth will be considerably worse than that of the much-maligned George W. Bush. Bush 43 delivered RGDP growth averaging 2.10%, with two years (2004 and 2005) above 3.0%."
Barack Obama's Sad Record on Economic Growth | RealClearMarkets


2. "U.S. Has Record 10th Straight Year Without 3% Growth in GDP"
By Terence P. Jeffrey | February 26, 2016 |
U.S. Has Record 10th Straight Year Without 3% Growth in GDP


3. "....in 2009. In that year the economy actually contracted 2.8%. Since then, though, the economy has grown quite a bit: 2.5% in 2010, 1.6% in 2011, 2.3% in 2012, 2.2% in 2013, and 2.4% in 2014. These figures are below the historical average of 3.27% growth between 1947 and 2014, but good compared to growth in other developed countries around the world in the last five years."
How Has the Economy Performed Under Barack Obama?


My advice: continue to do what you do best,...lie, and make others despise you.




Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%. By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years."
President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire

 

[edthecynic]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

That was Bush's ADDI and had absolutely nothing to do with the CRA.
The CRA required QUALIFIED minorities, ADDI gave no down payment loans to unqualified borrowers with bad credit for more than the house was worth.

 

[edthecynic]

I never lie

That itself is a LIE!

 

[Timmy]

So why vote for anyone other than Hillary - right?

Oh wait - let's look at some facts, those pesky little things that always seem to get in the way of the narrative spoon fed to us by our friends on the left...

#NeverHillary

Retail Sales in U.S. Decline After January Revised Down

U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, calling into question the narrative that bigger gains in consumer spending would propel economic growth at the start of 2016.

--

The median forecast in a Bloomberg survey called for a 0.2 percent drop in February, with estimates ranging from a decline of 0.7 percent to a 0.4 percent gain. January’s reading was initially reported as a 0.2 percent increase.

And let me add this:

1. Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%.
By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years." President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire


The very worst President in terms of effectiveness....Well, maybe second to FDR.

So this claim about never being higher than 3%. It's a lie .

My quick Google searching powers proved otherwise .

I never lie....but if you found proof that he had years with annual economic growth...you would have posted it.

You lie with metronomic regularity....I've caught you doing so...what..three...four times in this thread alone.

Read the following and repent.


1." No matter what happens in 2016, Obama's record on economic growth will be considerably worse than that of the much-maligned George W. Bush. Bush 43 delivered RGDP growth averaging 2.10%, with two years (2004 and 2005) above 3.0%."
Barack Obama's Sad Record on Economic Growth | RealClearMarkets


2. "U.S. Has Record 10th Straight Year Without 3% Growth in GDP"
By Terence P. Jeffrey | February 26, 2016 |
U.S. Has Record 10th Straight Year Without 3% Growth in GDP


3. "....in 2009. In that year the economy actually contracted 2.8%. Since then, though, the economy has grown quite a bit: 2.5% in 2010, 1.6% in 2011, 2.3% in 2012, 2.2% in 2013, and 2.4% in 2014. These figures are below the historical average of 3.27% growth between 1947 and 2014, but good compared to growth in other developed countries around the world in the last five years."
How Has the Economy Performed Under Barack Obama?


My advice: continue to do what you do best,...lie, and make others despise you.




Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%. By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years."
President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire

All I did was google the subject .

I don't rely on bias websites who's very nature is to bend the truth to fit their narrative .

 

[PoliticalChic]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

That was Bush's ADDI and had absolutely nothing to do with the CRA.
The CRA required QUALIFIED minorities, ADDI gave no down payment loans to unqualified borrowers with bad credit for more than the house was worth.

Liar....or simply fool
The CRA threatened banks that didn't give loans to Democrat voters.

This was FDR's mortgage meltdown.

You probably believe that George Bernard Shaw wasn't a proponent of genocide, too.

 

[PoliticalChic]

So why vote for anyone other than Hillary - right?

Oh wait - let's look at some facts, those pesky little things that always seem to get in the way of the narrative spoon fed to us by our friends on the left...

#NeverHillary

Retail Sales in U.S. Decline After January Revised Down

U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, calling into question the narrative that bigger gains in consumer spending would propel economic growth at the start of 2016.

--

The median forecast in a Bloomberg survey called for a 0.2 percent drop in February, with estimates ranging from a decline of 0.7 percent to a 0.4 percent gain. January’s reading was initially reported as a 0.2 percent increase.

And let me add this:

1. Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%.
By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years." President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire


The very worst President in terms of effectiveness....Well, maybe second to FDR.

So this claim about never being higher than 3%. It's a lie .

My quick Google searching powers proved otherwise .

I never lie....but if you found proof that he had years with annual economic growth...you would have posted it.

You lie with metronomic regularity....I've caught you doing so...what..three...four times in this thread alone.

Read the following and repent.


1." No matter what happens in 2016, Obama's record on economic growth will be considerably worse than that of the much-maligned George W. Bush. Bush 43 delivered RGDP growth averaging 2.10%, with two years (2004 and 2005) above 3.0%."
Barack Obama's Sad Record on Economic Growth | RealClearMarkets


2. "U.S. Has Record 10th Straight Year Without 3% Growth in GDP"
By Terence P. Jeffrey | February 26, 2016 |
U.S. Has Record 10th Straight Year Without 3% Growth in GDP


3. "....in 2009. In that year the economy actually contracted 2.8%. Since then, though, the economy has grown quite a bit: 2.5% in 2010, 1.6% in 2011, 2.3% in 2012, 2.2% in 2013, and 2.4% in 2014. These figures are below the historical average of 3.27% growth between 1947 and 2014, but good compared to growth in other developed countries around the world in the last five years."
How Has the Economy Performed Under Barack Obama?


My advice: continue to do what you do best,...lie, and make others despise you.




Obama is the first President never to have had a year of 3% or better economic growth: "...annual growth during Obama’s “recovery” has never topped 3%. By comparison, it never fell below 3% during the Reagan recovery. And in the nine years following the 1990-91 recession, GDP grew faster than 3% in all but two. Heck, even Jimmy Carter had some strong growth years."
President Obama’s Growth Gap Hits $1.31 Trillion

a. "The years since 2007 have been a macroeconomic disaster for the United States of a magnitude unprecedented since the Great Depression." Obama: Always Wrong, Never In Doubt

b. "....first president since Hoover to never have a single year above 3% GDP growth." Obama economy is 'amazing,' says hedge fund billionaire

All I did was google the subject .

I don't rely on bias websites who's very nature is to bend the truth to fit their narrative .

You lie....that's what Liberals do.

Or.....simply put up your proof......and I'll shred it.

 

[pinqy]

GDP growth rate

Looks over 3% to me .

US GDP Growth Rate by Year

Date Value
Dec 31, 2015 2.91%
Dec 31, 2014 3.88%
Dec 31, 2013 4.05%
Dec 31, 2012 3.24%
Dec 31, 2011 3.64%
Dec 31, 2010 4.56%
Dec 31, 2009 0.11%
Dec 31, 2008 -0.92%
Dec 31, 2007 4.40%
Dec 31, 2006 5.12%
Dec 31, 2005 6.52%
Dec 31, 2004 6.31%
Dec 31, 2003 6.42%
Dec 31, 2002 3.76%

You did read the caveat that those are NOT adjusted for inflation? Real GDP change on a yearly basis has been

2009: -2.8%
2010: 2.5%
2011: 1.6%
2012: 2.2%
2013: 1.5%
2014: 2.4%
2015: 2.4%

 

[edthecynic]

And, as you well know, NINJA loans began in 2001 under BUSH and have nothing to do with the CRA.

the policy of giving unqualified applicants loans to make the racial numbers look better started way before that

Nope, that is just a typical CON$ervoFascist lie mindlessly parroted by morons.

no - government policy that required lenders to set lower standards for some applicants was certainly part of the problem

That was Bush's ADDI and had absolutely nothing to do with the CRA.
The CRA required QUALIFIED minorities, ADDI gave no down payment loans to unqualified borrowers with bad credit for more than the house was worth.

The CRA threatened banks that didn't give loans to Democrat voters.

You lie yet again!