When the next Great Recession hits, how will republicans respond?

[Contumacious]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it. Democrat Barney Frank was the chair(person) of the powerful "house banking committee" which had oversight responsibility for Fannie Mae and Frank told Americans that Fannie was solvent when it was in desperate trouble. The question is whether democrats nudged Fannie over the edge as the biggest October surprise in history or it was typical democrat negligence.

I don't know why you are ranting about irrelevant bullshit. I don't care what dems did or didn't do years ago. That's not the point at all.

Let me simplify this: if the next Great Recession hits, how would republicans respond? How would they help the thousands that would be losing their jobs in the economic free fall?

They would hopefully do nothing and wait for the market to correct itself.
We see that what the Dems did was an abject total and complete failure.

Good answer. Market fluctuations are not government creations, and so are not government responsibilities.

Market fluctuations are not.

But conditions created by government centralized planning are government responsibilities.

.

 

[The Rabbi]

Just exactly what does anyone here think either party could do if another great recession hits and millions of people lose their jobs? Despite what some like to believe there are limits to what the government can do you cant extend unemployment benefits or keep people on government assistance without end is that sad yes is it fair no but as my parents told me many times life is not always easy or fair.

We lost 8 million jobs from the previous recession.

Yeah that really didn't answer the question.

How are you not getting this? We know what works. We got out of the last recession. We do the same thing as last time. Of course with repubs in power that won't happen.

We know what doesn't work.
The results of the Dem policies were horrendous: extended unemployment, record gov't dependence, sluggish growth.
If we do the opposite we have a shot.

 

[bigrebnc1775]

billy boy one question, how will the democrats respond in another recession? I hope it's better than they did during the great depression and the last recession, they're effort was like they wanted to destroy America.

 

[Billy000]

billy boy one question, how will the democrats respond in another recession? I hope it's better than they did during the great depression and the last recession, they're effort was like they wanted to destroy America.

Their effort saves America. That jobs free fall, 500,000 a month, was stopped in its tracks by the stimulus package. These are facts.

The only problem is that the stimulus wasn't big enough.

 

[chikenwing]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it. Democrat Barney Frank was the chair(person) of the powerful "house banking committee" which had oversight responsibility for Fannie Mae and Frank told Americans that Fannie was solvent when it was in desperate trouble. The question is whether democrats nudged Fannie over the edge as the biggest October surprise in history or it was typical democrat negligence.

I don't know why you are ranting about irrelevant bullshit. I don't care what dems did or didn't do years ago. That's not the point at all.

Let me simplify this: if the next Great Recession hits, how would republicans respond? How would they help the thousands that would be losing their jobs in the economic free fall?

I don't know why you are ranting about irrelevant bullshit. I don't care what dems did or didn't do years ago. That's not the point at all.

Well of course it would be irrelevant to you,if it was then the Dems would have to take responsibility for their part,but we know people like yourself would never do that.

 

[g5000]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it.

It was not Fannie Mae which brought the world economy down, idiot. And Fannie Mae's demise was built between 2003 and 2007. The GOP was in charge most of that period.

Holy shit, will you please stop drinking the piss of hacks who have no clue about what happened?

 

[g5000]

If there is a crash, it will be bigger than last time. There will be nothing any government can do about it because the banks are no longer Too Big To Fail. They are Too Big To Save. Nothing would be able to save them or from taking everything with them.

 

[NoTeaPartyPleez]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it. Democrat Barney Frank was the chair(person) of the powerful "house banking committee" which had oversight responsibility for Fannie Mae and Frank told Americans that Fannie was solvent when it was in desperate trouble. The question is whether democrats nudged Fannie over the edge as the biggest October surprise in history or it was typical democrat negligence.

So by this logic Obama should not be held responsible for everything on his watch, eithher. Right?

FACT: Both 9/11 and the financial collapse was on Bush's watch. So you morons are probably going to elect his brother in 2016.

What was that definition of insanity again?

 

[g5000]

The very first thing the GOP would do is blame the Democrats and take no responsibility whatsoever. Then they would blame all the negroes.

Just like last time.

 

[NoTeaPartyPleez]

If there is a crash, it will be bigger than last time. There will be nothing any government can do about it because the banks are no longer Too Big To Fail. They are Too Big To Save. Nothing wold prevent them from going under, and taking everything with them.

I was reading about this last night in Bloomberg:
Why John Maynard Keynes s Theories Can Fix the World Economy - Businessweek

"""If Keynes were alive today, he might be warning of a repeat of 1937, when policy mistakes turned a promising recovery into history’s worst double dip. This time, Europe is the danger zone; then it was the U.S. What’s called the Great Depression was really two steep downturns in the U.S. The first ended in 1933. It was followed by four years of output growth averaging more than 9 percent a year, one of the strongest recoveries ever.

What aborted the comeback is still debated. Some economists blame President Franklin Roosevelt for signing tax hikes and cuts in New Deal jobs programs. Others blame the Federal Reserve. Dartmouth College economist Douglas Irwin argues that the Roosevelt administration triggered the relapse by buying up gold, removing it from the U.S. monetary base. The move to prevent inflation succeeded all too well, causing deflation. Whatever the cause, Britain and other trading partners were dragged down, and U.S. output plunged and didn’t fully recover until America’s entry into World War II. “We are really at a kind of 1937 moment now,” says MIT’s Temin. “It’s a cautionary history for us.”""""

 

[g5000]

The negroes forced all those white middle class people to buy McMansions and take out HELOCs so those middle class jerks could buy boats and RVs and go on Disney vacations. Then, when all those white middle class neighborhoods were overflowing with For Sale signs on all those foreclosed houses, the average Fox News viewer looked at his neighbor and said, "I had no idea Biff was a Negro!"

The retards drank the "It wuz da CRA" piss, ignoring the reality literally right outside their front doors.

 

[EdwardBaiamonte]

It was not Fannie Mae which brought the world economy down, idiot.

Well perhaps not Fan Fred alone but they were a huge part of
the libcommie interference with the free market that caused to crisis. Left alone free markets are self-correcting.

 

[EdwardBaiamonte]

It was not Fannie Mae which brought the world economy down, idiot.

Well perhaps not Fan Fred alone but they were a huge part of
the libcommie interference with the free market that caused the crisis. Left alone free markets are self-correcting while libcommie soviet markets are always in crisis.[/QUOTE]

 

[g5000]

What aborted the comeback is still debated. Some economists blame President Franklin Roosevelt for signing tax hikes and cuts in New Deal jobs programs. Others blame the Federal Reserve. Dartmouth College economist Douglas Irwin argues that the Roosevelt administration triggered the relapse by buying up gold, removing it from the U.S. monetary base.

The most common argument by Keynesians for the second dip is that the Republicans gained control of Congress in the 1936 elections and began curbing government spending.

The move to prevent inflation succeeded all too well, causing deflation.

We are actually in danger of deflation right now. The dollar's strength is increasing.

 

[NoTeaPartyPleez]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it.

It was not Fannie Mae which brought the world economy down, idiot. And Fannie Mae's demise was built between 2003 and 2007. The GOP was in charge most of that period.

Holy shit, will you please stop drinking the piss of hacks who have no clue about what happened?

Spot on. Jesus christ Whitehall acts as if Lehman Brothers, Bear Sterns, AIG, the credit default insurance market and Hank Paulson's $750,000,000,000 bail out for Wall Street never existed. Total idiot.

 

[EdwardBaiamonte]

We are actually in danger of deflation right now. The dollar's strength is increasing.

dear, there is no danger since the Fed is opposed to deflation.

 

[theHawk]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it. Democrat Barney Frank was the chair(person) of the powerful "house banking committee" which had oversight responsibility for Fannie Mae and Frank told Americans that Fannie was solvent when it was in desperate trouble. The question is whether democrats nudged Fannie over the edge as the biggest October surprise in history or it was typical democrat negligence.

Yup, Dems took over in 2006 & it's been all downhill since.

If republicans were in control, how would they assist the thousands, potentially millions of people who lost their jobs against their will? What policies would they put in place?

This is a simple question gramps. Answer it.

By inacting conservative fiscal policies, lowering taxes, cutting spending, and reducing the enormous deficit. You know, the exact opposite of every failed Democrat policy.

 

[EdwardBaiamonte]

Spot on. Jesus christ Whitehall acts as if Lehman Brothers, Bear Sterns, AIG, the credit default insurance market and Hank Paulson's $750,000,000,000 bail out for Wall Street never existed. Total idiot.

can you say why he's a total idiot?

 

[EdwardBaiamonte]

Hey, pssst...democrats were in charge when Fannie Mae collapsed bringing the entire world economy down with it. Democrat Barney Frank was the chair(person) of the powerful "house banking committee" which had oversight responsibility for Fannie Mae and Frank told Americans that Fannie was solvent when it was in desperate trouble. The question is whether democrats nudged Fannie over the edge as the biggest October surprise in history or it was typical democrat negligence.

Yup, Dems took over in 2006 & it's been all downhill since.

If republicans were in control, how would they assist the thousands, potentially millions of people who lost their jobs against their will? What policies would they put in place?

This is a simple question gramps. Answer it.

By inacting conservative fiscal policies, lowering taxes, cutting spending, and reducing the enormous deficit. You know, the exact opposite of every failed Democrat policy.

yes Republicans could create 40 million jobs tomorrow:
1) eliminate corporate tax, 10 million
2) make unions illegal again, 10 million
3) make deficits illegal, 5 million
4) ship 20 million illegals home, 20 million
5) end liberal destruction of schools and family, 10 million

 

[g5000]

It was not Fannie Mae which brought the world economy down, idiot.

Well perhaps not Fan Fred alone but they were a huge part of
the libcommie interference with the free market that caused the crisis. Left alone free markets are self-correcting while libcommie soviet markets are always in crisis.

Do the words "Lehman Brothers" mean anything to you? That was what precipitated the collapse.

Bear Stearns ring a bell? How about Merrill Lynch? How about AIG!?!

The GSEs were minor players in the secondary market by 2005. Wall Street took it over in a big way, and it was their mad rush for fees which caused the crash. This was a global financial derivatives crisis.

In 2004, the SEC unanimously approved capital reserve waivers for the top five broker-dealers. Guess what happened to all five of those broker-dealers?

Three went under (Bear Stearns, Lehman Brothers, Merrill Lynch) and two converted to holding companies (Goldman Sachs, JP Morgan) so they could be bailed out by the government.

This was not a coincidence.

Were the GSE portfolios full of junk? Hell yes. But the rush to junk was caused by the deregulation of the derivatives which needed to be filled with junk paper so they could be sold to hungry investors who had $70 trillion looking for something to buy. Wall Street took the lead, the GSEs simply followed, not wanting to miss out on the bonanza of fees.

When the global financial services industry ran out of good borrowers to lend money to, they threw the underwriting laws of the Universe out the window and began making loans to anyone who drew breath. All to get the fees for selling the resulting derivative products to investors.

This meant white middle class people who should only have bought $250,000 houses were put into $500,000 houses, and then they were encouraged to take out HELOCs.

This meant people who should never have bought a house (low income) were given loans to buy houses.

Of course politicians lined up to take credit for this sudden swelling in lending for houses. But the government was not forcing these banks to do this. The banks were demanding the ability to make more loans. They wanted the restrictions on them lifted. Thus we saw things like that SEC ruling I mentioned.

Anyone who thinks the government was forcing the banks to make more loans during this period is a blithering idiot. They have it exactly backwards.

 

[g5000]

Spot on. Jesus christ Whitehall acts as if Lehman Brothers, Bear Sterns, AIG, the credit default insurance market and Hank Paulson's $750,000,000,000 bail out for Wall Street never existed. Total idiot.

can you say why he's a total idiot?

I just did. See post 79.