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  1. #8146
    Joined
    Apr 2002
    Posts
    10,803

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post

    Good luck recycling the lie that the repuggies got us into this mess instead of the affirmative action placed on lending standards pushed by your party through Fannie and Freddie. Wanna talk about the "shitstorm"? Id say it was a self inflicted wound your party brought upon itself politically that we're paying for collectively as a country. I hope whoever the repuggie candidate is corrects the scuttlebutt every time it comes up.

    It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp.
    enjoyed the very first comment posted in response to that article which sums it up...
    Am I missing something, or does this seem a bit disingeuous of Bloomberg? The situation is neither plain nor simple. The banks obviously have to bear the brunt of the blame, as they are the ones who created shady financial instruments to repackage weak loans and then trade those instruments among themselves in a high-stakes game of hot-potato. Congress isn't blameless, but Congress seems irrresponsible while the banks seems criminal. And Bloomberg, as both the founder of a financial media company AND a fantastically wealthy individual, has everything to gain by placing blame as far from Wall Street as possible.
    or this...
    Bush drive for home ownership fueled housing bubble
    "We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

    - President George W. Bush, Oct. 15, 2002
    keep peddling that shtick.
    Thomas Jefferson to John Page Fairfeilds Dec: 25. 1762.
    ... But the old-fellows say we must read to gain knowledge; and gain knowledge to make us happy and be admired. Mere jargon! Is there any such thing as happiness in this world? No: And as for admiration I am sure the man who powders most, parfumes most, embroiders most, and talks most nonsense, is most admired.

  2. #8147
    Joined
    Mar 2002
    Location
    California
    Posts
    26,273

    Re: Economic News/Discussion

    ^^^





    Don't believe your lying eyes and ears folks.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  3. #8148
    Joined
    Apr 2002
    Posts
    10,803

    Re: Economic News/Discussion

    don't target Barney, say what you will about him he is sharp and has a handle on the facts that defy FoxNews soundbites...


    and more about he-who-must-not-be-named, President Voldemort...
    Bush seeks to increase minority homeownership
    By Thomas A. Fogarty, USA TODAY

    In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

    In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

    Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.
    Last edited by otoc; 02-04-2012 at 01:50 PM.
    Thomas Jefferson to John Page Fairfeilds Dec: 25. 1762.
    ... But the old-fellows say we must read to gain knowledge; and gain knowledge to make us happy and be admired. Mere jargon! Is there any such thing as happiness in this world? No: And as for admiration I am sure the man who powders most, parfumes most, embroiders most, and talks most nonsense, is most admired.

  4. #8149
    Joined
    Mar 2003
    Location
    Oregon
    Age
    40
    Posts
    6,498

    Re: Economic News/Discussion

    Quote Originally Posted by otoc View Post

    and more about he-who-must-not-be-named, President Voldemort...
    Seriously. It's like the guy won't f&*king die. Maybe he has horcruxes hidden all over the world or something.

  5. #8150
    Joined
    Mar 2002
    Location
    California
    Posts
    26,273

    Re: Economic News/Discussion

    ^^ Love it. 3+ years of blame foxnews and GWB. It really never gets old guys. "Yes we can" is a little beat up.. here is one you can use that'll appeal to the same level of voters you relied on in "08".





    Barack Obama Lashes Out at Banks For Risky Mortgages in Weekly Address ÖForgets to Mention His Lawsuit Forced Banks to Ease Lending Practices

    In his early activist days, Barack Obama the community organizer sued banks to ease lending practices.

    State Sen. Barack Obama and Fr. Michael Pfleger led a protest in Chicago in January 2000. (NBC 5 Week of January 3, 2000)

    Today Barack Obama lashed out at lenders who sold home loans to families who couldnít afford them in his Weekly Address.

    Over the last couple of weeks, Iíve been traveling around the country and talking with folks about my blueprint for an economy built to last. Itís a blueprint that focuses on restoring the things weíve always done best. Our strengths. American manufacturing. American energy. The skills and education of American workers.

    And most importantly, American values like fairness and responsibility.

    We know what happened when we strayed from those values over the past decade Ė especially when it comes to our housing market.

    Lenders sold loans to families who couldnít afford them. Banks packaged those mortgages up and traded them for phony profits. It drove up prices and created an unsustainable bubble that burst Ė and left millions of families who did everything right in a world of hurt.

    It was wrong. The housing crisis has been the single biggest drag on our recovery from the recession. It has kept millions of families in debt and unable to spend, and it has left hundreds of thousands of construction workers out of a job.
    But Obama forgot to mention that he was the one who sued banks to force them to make loans to families who couldnít afford them.
    In 1994, Barack Obama was one of the plaintiffs in a class action lawsuit, alleging that Citibank had engaged in practices that discriminated against minorities. The lawsuit forced the bank to ease its lending practices.

    For some reason he forgot to mention that in todayís Weekly Address.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  6. #8151
    Joined
    Apr 2002
    Posts
    10,803

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    ^^ Love it. 3+ years of blame foxnews and GWB. It really never gets old guys. "Yes we can" is a little beat up.. here is one you can use that'll appeal to the same level of voters you relied on in "08".





    Barack Obama Lashes Out at Banks For Risky Mortgages in Weekly Address ÖForgets to Mention His Lawsuit Forced Banks to Ease Lending Practices
    ah the wrath of naming he-who-must-not-be-named in direct response to a point is now it's Obama's fault?
    Thomas Jefferson to John Page Fairfeilds Dec: 25. 1762.
    ... But the old-fellows say we must read to gain knowledge; and gain knowledge to make us happy and be admired. Mere jargon! Is there any such thing as happiness in this world? No: And as for admiration I am sure the man who powders most, parfumes most, embroiders most, and talks most nonsense, is most admired.

  7. #8152
    Joined
    Aug 2010
    Location
    Milwaukee, Wisconsin
    Posts
    6,027

    Re: Economic News/Discussion



    God damn.

  8. #8153
    Joined
    Aug 2001
    Posts
    74,682

    Re: Economic News/Discussion

    I just dont get how Krugman reasons.

    http://www.nytimes.com/2012/02/06/op...pagewanted=all

    Sometimes I get the feeling he shops for reasons to explain how his massive government spending position hasnt worked. Now its lack of housing? New housing? For who?
    Amazing how economists back a few years were all blaming the housing "glut" that was a direct result of federal push to get everyone into their own home.

    Anyway..read it yourself and draw your own conclusions.

  9. #8154
    Joined
    Mar 2002
    Location
    California
    Posts
    26,273

    Re: Economic News/Discussion

    Quote Originally Posted by jimzinsocal View Post
    I just dont get how Krugman reasons.

    http://www.nytimes.com/2012/02/06/op...pagewanted=all

    Sometimes I get the feeling he shops for reasons to explain how his massive government spending position hasnt worked. Now its lack of housing? New housing? For who?
    Amazing how economists back a few years were all blaming the housing "glut" that was a direct result of federal push to get everyone into their own home.

    Anyway..read it yourself and draw your own conclusions.
    Krug is easy to figure out. Why did the huge increase in spending not work? Why.. because we did not increase it enough of course. Same answer all the "spend your way to prosperity" types give.

    As to the rest.. I wonder how he figures this?

    In particular, at this point America is seriously under-housed by historical standards, because weíve built very few houses in the six years since the housing bubble popped.
    Six years? IIRC it's been less than four.

    Sure enough, no sooner were the new numbers out than James Bullard, the president of the St. Louis Fed, declared that the new numbers make further Fed action to promote growth unnecessary. And the sad truth is that the good jobs numbers have definitely made it less likely that the Fed will take the expansionary action it should.
    So what's he think the fed can do at this point? Interest rates below zero? Moar QE? Krug and the rest of the "gubberment is the cure" crowd have simply run aground. We've done all that Keynesian sh33t.. it failed again. Time to get gubberment outta the way and let the market reset on it's own.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  10. #8155
    Joined
    Sep 2001
    Location
    Colorafornia, USSA
    Age
    46
    Posts
    13,823

    Re: Economic News/Discussion

    Quote Originally Posted by Keven View Post


    God damn.
    Bleh. Hey Crapsler, how about spending the money you squandered on the "inspirational" commercial with Clint on better quality parts?
    The only thing necessary for the triumph of evil is for good men to do nothing

    Edmund Burke

    RIP PCPER TLR
    7-14-19

  11. #8156
    Joined
    Aug 2003
    Location
    West Richland, WA
    Posts
    6,397

    Re: Economic News/Discussion

    Lousy product and company but it is a good commercial.
    Brian

  12. #8157
    Joined
    Aug 2010
    Location
    Milwaukee, Wisconsin
    Posts
    6,027

    Re: Economic News/Discussion



    It's the Halftime in America commercial from Chrysler if you didn't see it.

    The NFL keeps cracking down on last night's super bowl commercials from YouTube.

  13. #8158
    Joined
    Mar 2002
    Location
    California
    Posts
    26,273

    Re: Economic News/Discussion

    Quote Originally Posted by Keven View Post


    It's the Halftime in America commercial from Chrysler if you didn't see it.

    The NFL keeps cracking down on last night's super bowl commercials from YouTube.
    Halftime in America: An Open Letter to Clint Eastwood

    Okay, Clint, you win. This is simply the best ad that aired during the Superbowl. Americaís greatest on-screen tough guy promising that America is going to come back and kick ass? I love it:

    The ad doesnít actually say which ďteamĒ youíre rooting for, Clint, but people on the left and the right seem to believe itís all about Obama. Politico notes that places like Democratic Underground said so immediately after it aired. From the other side of the aisle, Karl Rove (also a fan) believed this was an in-kind donation in repayment of a debt to the Obama administration:

    What the language and imagery of this ad boils down to is the ďletís pull together.Ē Not coincidentally, that the sort of language Obama has been using for months in his campaign stops. Itís an emotional argument but, again, one that this ad really encapsulates perfectly. I feel it. I get it. You win, Clint.

    But at some point the feel good movie ends and you walk out of the theater and deal with the real world, right? I canít act like Dirty Harry or the Man-With-No-Name in the real world. Iíd get arrested by real cops if I tried. And thatís my pointÖ

    Your ad, good as it is, just doesnít reckon with the reality weíre facing and, more importantly, neither does President Obama. Weíre $15 trillion dollars in debt. Thatís money being loaded on future generations, including your kids and mine. Is it fair to ask people not yet born to pull together to shoulder our burdens? Because thatís the core of the disagreement on the field, Clint. It really does matter which team wins this one.

    We desperately need a President who can get us to pull together for the good of the country (read: suck it up and pay our own way). But thatís not who we have in office. Not even close, Clint. According to the actual polling, Obama is the most divisive President in recent history. But thatís only part of it.

    The truth is, Obama has made himself the standard bearer for big government irresponsibility. He didnít cause all the debt, (technically the President doesnít cause any) but heís piling it on and refusing to get serious about dealing with it. Heís the guy saying we should stick it to the future, not the guy saying letís deal with this mess.

    And, oh, by the way, heís not a big fan of roaring engines, Clint. He forced through new CAFE standards that could mean the end of 8 cylinder production engines on all but a few cars. Obama wants America to roar? Only with 4 cylinder diesel-hybrids. Maybe thatís your idea of a kick-ass America but itís not mine.

    So thatís my problem Clint. You made a great ad but itís only true so long as you stay in the locker room and suspend disbelief. What we really need right now is someone who will get on the field and make winning the #1 priority. Two more quarters of responsibility-shifting to people not yet born and we could be well and truly screwed. I donít think you want that for your children or your country, do you Clint?

    Well, do ya?

    Update: Clint says his ad was not intended to promote Obama:
    l am certainly not politically affiliated with Mr. Obama. It was meant to be a message about just about job growth and the spirit of America.
    Iím not sure why everyone, right and left saw it differently, but they did. Clint says thatís not the point. I guess weíll have to take his word for that.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  14. #8159
    Joined
    Nov 2001
    Location
    Montana
    Posts
    7,743

    Re: Economic News/Discussion

    I believe Clint. I sure didn't take it as any endorsement of Obama when I first saw it.

    However, that doesn't mean that's not what Chrysler intended. Maybe they used Clint as an unwitting pawn.
    Tyan S5397 2x X5450 16GB - SuperMicro H8DCI 2x 275 8GB - Iwill DK8X 2x Opteron 250 2GB


    Take a Kid FISHING!

  15. #8160
    Joined
    Aug 2010
    Location
    Milwaukee, Wisconsin
    Posts
    6,027

    Re: Economic News/Discussion

    Quote Originally Posted by smoked trout View Post
    I believe Clint. I sure didn't take it as any endorsement of Obama when I first saw it.
    Yeah, I agree. I don't think it was an endorsement of Obama. Besides, Clint has a history of supporting Republican/Libertarian causes.

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