Economic Systems

[The Troll]

Your 401(k) is only as good as you make it. You pick lousy funds, you get crappy results. Simple as that.

  Tell me Bo D, just how do you know that you have a good stock.     Who thought Enron would do what it did.  Who thought GM would do what they did.  Who thought IBM would go the way they did, the orphan and widow stock.   

  I thought we had good stock and it is. But under George W. Bush I lost $61,000 out of my stock retirement fund, because of what he let happen.  Hell, he and the Republican Party almost drove this country into a Herbert Hoover depression.  We lost stock price but we didn't lose any dividends.  Since Obama I have got back my money and got another $20,000 back on top of that.  Bunky Bird thinks Obama is doing a bad job.  What a joker. 

[Henry Hawk]

  Tell me Bo D, just how do you know that you have a good stock.     Who thought Enron would do what it did.  Who thought GM would do what they did.  Who thought IBM would go the way they did, the orphan and widow stock.   

  I thought we had good stock and it is. But under George W. Bush I lost $61,000 out of my stock retirement fund, because of what he let happen.  Hell, he and the Republican Party almost drove this country into a Herbert Hoover depression.  We lost stock price but we didn't lose any dividends.  Since Obama I have got back my money and got another $20,000 back on top of that.  Bunky Bird thinks Obama is doing a bad job.  What a joker. 

But OBAMA didn't do anything.......The FED pumped $50 BILLION a MONTH to make the rich richer!!!!  The stock market did good, because it was artificially inflated.  PERIOD. This is not even open for argument.

We still have a record number of Americans receiving food stamps! It is 45% higher than when Obama first took office, and the rate of home ownership has dropped by 3.2 percentage points, to the lowest point in nearly 20 years.  This has NOTHING to do with Bush or the Republicans....NATTA!

CBO has estimated that when Obama leaves office in 2017, the number of food stamp beneficiaries will still be at 42.7 million — one third more than when he entered.  This is HIS leadership and mostly HIS democrats that were running things.

Troll,  what a joker. 

[Bo D]

But OBAMA didn't do anything.......The FED pumped $50 BILLION a MONTH to make the rich richer!!!!  The stock market did good, because it was artificially inflated.  PERIOD. This is not even open for argument.

We still have a record number of Americans receiving food stamps! It is 45% higher than when Obama first took office, and the rate of home ownership has dropped by 3.2 percentage points, to the lowest point in nearly 20 years.  This has NOTHING to do with Bush or the Republicans....NATTA!

CBO has estimated that when Obama leaves office in 2017, the number of food stamp beneficiaries will still be at 42.7 million — one third more than when he entered.  This is HIS leadership and mostly HIS democrats that were running things.

Troll,  what a joker. 

You are one sad, little man! You desperately dig up numbers which mean very little in the overall scheme of the economy.

Facts is facts! 

Bush nearly destroyed us and the Obama economic policies brought us back from the brink of total failure. Just who do you think directed the Fed?

[Henry Hawk]

Just who do you think directed the Fed?

Ben Bernanke for the most part of Obama's time....and He did what he wanted....Obama or congress can't do shit about what they decide to do.

[Exterminator]

When you start attacking grammar I know I got ya!  That is usually your last resort....

Don't flatter yourself; illiteracy should not be a source of pride.

[Exterminator]

You are one sad, little man!

Yep!   

[Henry Hawk]

Bush nearly destroyed us and the Obama economic policies brought us back from the brink of total failure. Just who do you think directed the Fed?

First of lets keep things in perspective.......Bush made some mistakes, but the senate and congress was controlled by the democrats, they share much of the blame.  Secondly, Obama survived the recession, but we will never know if it could have been a speedier recovery had McCain won.

So, I think YOU are sad little man, for believing what you do, based upon your biased liberal thinking.

Nanny, nanny boo boo!!

[Exterminator]

...but the senate and congress was controlled by the democrats, they share much of the blame.

Bullshit, the Republicans controlled the house and senate for most of Bush's tenure.

[Henry Hawk]

Bullshit, the Republicans controlled the house and senate for most of Bush's tenure.

The democrat party had control of both the the House and Senate, starting January 4th, 2007....for the last three years of his presidency.  Plenty of time to help set up the mess we faced, but they, without a doubt, contributed to it.......but all they could do is "Blame Bush".  THAT IS A FACT, JACK.

[Exterminator]

The democrat party had control of both the the House and Senate, starting January 4th, 2007....for the last three years of his presidency.

Bush was president until 2010?

Plenty of time to help set up the mess we faced..., but they, without a doubt, contributed to it.......but all they could do is "Blame Bush".  THAT IS A FACT, JACK.

I have no idea what this statement is even supposed to mean but would agree that both parties are complicit in the financial collapse and have been in the redistribution of wealth that has been going on since Reagan.  You're the one trying to make it a partisan issue.

[Henry Hawk]

I have no idea what this statement is even supposed to mean but would agree that both parties are complicit in the financial collapse and have been in the redistribution of wealth that has been going on since Reagan.  You're the one trying to make it a partisan issue.

Bullshit!  All I have heard on here is how Obama took over Bush and the Republican mess.......and that is not true........you will get NO argument from me that is a non-partisan issue. I stated back when Bush was in office, several times, I thought he allowed WAY too much spending and that he made SEVERAL mistakes.....I have no love for most of the republicans that held office or that are STILL in office.

THAT is why I made the point that the democrats had plenty of time to try to curb anything the republicans was doing the last (TWO) years of Bush....they didn't, they just added to the debt AND the problem.

I say the real problem has less to do with presidency, but more to do with the greedy bankers, stock investors, dip-shit rating agencies, people buying houses that they couldn't afford, mortgage brokers, lenders, and borrowers, who all had poorly designed laws (by both sides of the aisle) to enable all of this to happen.

Some OVER-regulation and some UNDER-regulation.......

[Exterminator]

Bullshit!  All I have heard on here is how Obama took over Bush and the Republican mess.......and that is not true....

It is absolutely fucking true.

[Henry Hawk]

It is absolutely fucking true.

Nope.  Bush tried to get regulation on Fannie and Freddie...said they were out of control....the dems said it was all good.  THAT was the start of the mess.

https://www.youtube.com/watch?v=cMnSp4qEXNM

[Bo D]

Nope.  Bush tried to get regulation on Fannie and Freddie...said they were out of control....the dems said it was all good.  THAT was the start of the mess.

https://www.youtube.com/watch?v=cMnSp4qEXNM

Another Conservative Myth Busted -- Did Fannie and Freddie Really Cause the Financial Sector Meltdown?

"Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. Even so, by 2007 only 17 percent of their total portfolio was either either subprime or Alt-A loans. Due to regulations, their percentage of these loans are actually better than many banks."

"During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data."

"If the conservative view was correct, one would expect to see mortgages originated for Fannie and Freddie securitization, as well as those originated for purposes of CRA, to default at higher rates, since these were the loans directly subject to affordable housing policies. In fact, we see quite the opposite, as these loans have performed exponentially better than those originated for private securitization, which the FCIC Republicans ignore."

http://www.huffingtonpost.com/marvin-meadors/fannie-mae-freddie_b_1549411.html

[Bo D]

5 Reasons Americans Are Right To Blame Bush For The Economy

Sixty-eight percent of Americans — including 49 percent of Republicans — say President George W. Bush is responsible for the state of today's economy, a new Gallup poll finds. (June 14, 2012)

1. Deregulated Wall Street: It was a great time to be a Wall Street executive during the Bush administration. Sweeping financial deregulation helped build the housing bubble and allowed financial institutions to pursue risky trades unchecked. In fact, Bush eliminated the rules that allowed Wall Street to cause the financial crash that plunged the nation into the Great Recession.

2. Cut Taxes For The Wealthy: The Bush tax cuts — over 50 percent of which benefited the richest 5 percent of American taxpayers — cost about $2.5 trillion over the decade after they were enacted. Ten years later, Bush's tax cuts are still the main driving factor of the national debt:


3. Ran Up A Tab On Two Wars: The wars in Iraq and Afghanistan have cost the country trillions of dollars. Combined with Bush's tax cuts, war spending was a main factor in blowing up the deficit and spending the  surplus accumulated under Clinton. Lawmakers now use the deficit as an excuse for inaction.

4. Left Homeowners In A Lurch: While Bush was happy to help out the banks in the wake of the housing crisis, he did little to assist struggling homeowners. Hope For Homeowners, Bush's proposal to assist those struggling with their mortgages, was a colossal failure; in its first six months, it helped just one homeowner renegotiate his mortgage. Many mortgage holders — 15.7 million or, one in three — are still underwater today.

5. Weakened Workers: Bush weakened worker safety regulations and collective bargaining rights under the Occupational Safety and Health Administration (OSHA) and the Department of Labor throughout his time in office. Today, corporations are back to making record profits, while workers' incomes are falling.


http://thinkprogress.org/economy/2012/06/14/499523/5-reasons-americans-are-right-to-blame-bush-for-the-bad-economy/