Question for the feeble minded.

[deadirishpoet]

Obama was attempting to keep a second Great Depression from occurring.
What is Trump's excuse?

Stop it ...
The worst was over before Obama became President, and there was actually a lessening of the shrinking economy in the first quarter of 2009, when Obama was inaugurated. Perhaps more importantly, that by June of 09 the economy began to grow again before almost any of Obama’s massive Stimulus spending took effect
It recovered because of the actions of the Federal Reserve and because it’s what market economies do. But his policies led to the weakest recovery since before WWII.
President Obama and to a lesser part president Bush created this debt mess

 

[deadirishpoet]

Now in the freak show that is California politics
The mayor said he is not giving back the tax payers money (3+ billion dollars) that the state took for the high speed rail scam that he said was too expensive to build
Isn't that theft?

 

[Telx1]

Now in the freak show that is California politics
The mayor said he is not giving back the tax payers money (3+ billion dollars) that the state took for the high speed rail scam that he said was too expensive to build
Isn't that theft?

That is our new progressive Governor, not a Mayor. The bullet train is an ill conceived money pit, that grew to a current estimated $77 billion solution looking for a problem. The Gov should have the balls to terminate the whole damn fiasco, but will proceed with a more modest version mostly to avoid returning $3.5 Billion to the feds. Experience suggests we’ll spend several times this to avoid returning the fed dollars. Typical of this great State.

 

[deadirishpoet]

That is our new progressive Governor, not a Mayor. The bullet train is an ill conceived money pit, that grew to a current estimated $77 billion solution looking for a problem. The Gov should have the balls to terminate the whole damn fiasco, but will proceed with a more modest version mostly to avoid returning $3.5 Billion to the feds. Experience suggests we’ll spend several times this to avoid returning the fed dollars. Typical of this great State.

Thanks for the correction.
My sister in law who lives in the Valley told me it was the mayor.
They should spend that money on a water source instead

 

[8th Man]

Stop it ...
The worst was over before Obama became President, and there was actually a lessening of the shrinking economy in the first quarter of 2009, when Obama was inaugurated. Perhaps more importantly, that by June of 09 the economy began to grow again before almost any of Obama’s massive Stimulus spending took effect
It recovered because of the actions of the Federal Reserve and because it’s what market economies do. But his policies led to the weakest recovery since before WWII.
President Obama and to a lesser part president Bush created this debt mess

You are very much mistaken. The crash under Bush had the capability of being worse than the Great Depression. I don't blame either side, but deregulating banks so that they could contaminate all assets with their shitty loans almost destroyed the world's economy.

 

[BodiTheGreat]

You are very much mistaken. The crash under Bush had the capability of being worse than the Great Depression. I don't blame either side, but deregulating banks so that they could contaminate all assets with their shitty loans almost destroyed the world's economy.

Bush and Obama were both swamp dwellers who put America last and the Globalist elitists first. Trump is putting the working class and the American business owners first. He is also making great deals with other countries like China. And he is pulling us out of the endless middle east wars. Trump wants a strong milatary without the endless bloodshed. Peace through strength. I hate George Bush. We had Usama bin Laden dead to rights but he let him escape through the hills instead of listening to his Generals who would have had their troops destroy him . on the #1 reason why we went to war. George Bush was a weak SOB and he caused countless unnecessary deaths. Trump isn't a sweet talker like Bush but he isn't afraid to make decisions just to be liked.
And look at the booming economy under Trump--- You can't deny it.

 

[BodiTheGreat]

Stop it ...
The worst was over before Obama became President, and there was actually a lessening of the shrinking economy in the first quarter of 2009, when Obama was inaugurated. Perhaps more importantly, that by June of 09 the economy began to grow again before almost any of Obama’s massive Stimulus spending took effect
It recovered because of the actions of the Federal Reserve and because it’s what market economies do. But his policies led to the weakest recovery since before WWII.
President Obama and to a lesser part president Bush created this debt mess

Bush sucks.

 

[BodiTheGreat]

That is our new progressive Governor, not a Mayor. The bullet train is an ill conceived money pit, that grew to a current estimated $77 billion solution looking for a problem. The Gov should have the balls to terminate the whole damn fiasco, but will proceed with a more modest version mostly to avoid returning $3.5 Billion to the feds. Experience suggests we’ll spend several times this to avoid returning the fed dollars. Typical of this great State.

When Trump is out of office he could very well take on the bullett train fiasco and make it work--- but the leftwing idiots would not let that happen. Their hate for Trump has eaten their souls. And to think Trump was one of them ( a liberal ). Trump and Guiliani cleaned up New York city.

 

[deadirishpoet]

You are very much mistaken. The crash under Bush had the capability of being worse than the Great Depression. I don't blame either side, but deregulating banks so that they could contaminate all assets with their shitty loans almost destroyed the world's economy.

No
My post is spot on
President Obama had poor economist advising him

 

[deadirishpoet]

Bush sucks.

I was not a fan either

 

[deadirishpoet]

You are very much mistaken. The crash under Bush had the capability of being worse than the Great Depression. I don't blame either side, but deregulating banks so that they could contaminate all assets with their shitty loans almost destroyed the world's economy.

.......but if I'm not mistaken the democratic Congress forced the hands of financial institutions to force them to give loans to people they know couldnt afford it
And now when buying a home there's a private mortgage insurance clause due to
Fannie Mac

 

[ivan brunetti]

.......but if I'm not mistaken the democratic Congress forced the hands of financial institutions to force them to give loans to people they know couldnt afford it
And now when buying a home there's a private mortgage insurance clause due to
Fannie Mac

That would have been fine if the banks hadn't gone and mixed the risky loans in with AA and AAA rated bonds.

Think of it this way. Risky bank loans are usually like a few people in a small town contracting bacterial meningitis and being quarantined (junk bonds). In this case though, the banks took those who had the highly contagious disease and set them up a kissing booth at the town fair. Read The Big Short.

 

[deadirishpoet]

That would have been fine if the banks hadn't gone and mixed the risky loans in with AA and AAA rated bonds.

Think of it this way. Risky bank loans are usually like a few people in a small town contracting bacterial meningitis and being quarantined (junk bonds). In this case though, the banks took those who had the highly contagious disease and set them up a kissing booth at the town fair. Read The Big Short.

The banks hands were forced by an act of a democratic Congress
I will listen to the Big Short though

 

[mrwigglesby21]

Let's take a peek at this article from 2016 that discusses the Wikileaks release of Podesta's emails referring to Citigroup structuring Obama Pres Cabinet in 2008.

https://www.wsws.org/en/articles/2016/10/15/wiki-o15.html

 

[Telx1]

That would have been fine if the banks hadn't gone and mixed the risky loans in with AA and AAA rated bonds.

Think of it this way. Risky bank loans are usually like a few people in a small town contracting bacterial meningitis and being quarantined (junk bonds). In this case though, the banks took those who had the highly contagious disease and set them up a kissing booth at the town fair. Read The Big Short.

Damn, actually in agreement with Ivan over something. Always disapproved of this practice, which I think was initially allowed by legislation signed by Clinton.

 

[Telx1]

The banks hands were forced by an act of a democratic Congress
I will listen to the Big Short though

That would be Barney Frank and company! However, I also remember Bush and his supporters crowing about the highest percent of homeownership in history under his administration, which of course was facilitated by the Frank led legislation that created the mortgage fiasco.

 

[chaseball]

I'm not one of those people that are anti trump for the sake of being anti trump. I can care less about all of the narcissistic antics, non PR friendly comments, and conspiracies that the mainstream media covers 24/7 as it relates to Trump. I do take issue with ANY notion whatsoever that his policy has been anything other than pro establishment though.

Despite all of his populist rhetoric on the campaign trail he's doing what every president in both parties has done since Reagan took office: Pass tax cuts for the wealthiest Americans and Corporations, deregulate big business, fill his cabinet with quid pro quo donors/lobbyists/wall st. insiders etc., and increase military spending.

Anybody that believes he's a populist president, giving power back to the people, or representing the down trodden/blue collar working man -- i got some snake oil to sell you.

 

[ivan brunetti]

Damn, actually in agreement with Ivan over something. Always disapproved of this practice, which I think was initially allowed by legislation signed by Clinton.

Both Clinton and Reagan had a part. Reagan deregulated the banks, which legally allowed them to make bets their ass could not cover.

 

[Telx1]

Both Clinton and Reagan had a part. Reagan deregulated the banks, which legally allowed them to make bets their ass could not cover.

Yes, but to use your analogy, Clinton set up the kissing booth.

 

[ivan brunetti]

Yes, but to use your analogy, Clinton set up the kissing booth.

Nope. Banks make risky loans all the time. People invest in risky loans via junk bonds all the time. High risk, and high reward.

What the banks did was package risky loans in with safe loans, while still selling them as safe bonds; thereby collecting more of the reward for the banks. This worked fine as long as home prices kept skyrocketing.

The Frank/Dodd bill would not have been enough on its own to threaten the general economy. Unregulated banks (Reagan) were mostly to blame.

The poor people who couldn't make their mortgage payments lost their homes and all the money they put into them. What exactly did the banks lose?

 

[Telx1]

Nope. Banks make risky loans all the time. People invest in risky loans via junk bonds all the time. High risk, and high reward.

What the banks did was package risky loans in with safe loans, while still selling them as safe bonds; thereby collecting more of the reward for the banks. This worked fine as long as home prices kept skyrocketing.

The Frank/Dodd bill would not have been enough on its own to threaten the general economy. Unregulated banks (Reagan) were mostly to blame.

The poor people who couldn't make their mortgage payments lost their homes and all the money they put into them. What exactly did the banks lose?

I understand all that, but wasn’t it the legislation signed by Clinton that allowed the banks to mix these together?

 

[chaseball]

I understand all that, but wasn’t it the legislation signed by Clinton that allowed the banks to mix these together?

Are you referring to the scaling back of the Glass-Steagall act in 1999 ?

 

[ivan brunetti]

I understand all that, but wasn’t it the legislation signed by Clinton that allowed the banks to mix these together?

No, that was Reagan. GHWB, Clinton or W could have reinstated the bank regulations. That is as far as they are to blame for the mixing of assets.

 

[Telx1]

Are you referring to the scaling back of the Glass-Steagall act in 1999 ?

Yes.

 

[chaseball]

Surprise surprise just read news that Donald Trump's administration is repealing the estate tax a tax that only affects the top 0.2% of americans. SMH. At a time where the top 0.1% own more wealth than the bottom 90% of americans ... at a time with highest childhood poverty rates, skyrocketing deficits, decreasing life expectancy, 30+ million americans uninsured, 1 trillion+ in student loan debts that are wrecking the economy, etc. etc. we need to cut more taxes on the insanely wealthy in this country.

I read something the other day that said when there's massive income inequality (like back during the gilded age and in today's time) even the super wealthy are unhappy. They are more distrustful, defensive, and feel guilt and resentment towards the rest of society.

 

[deadirishpoet]

That would be Barney Frank and company! However, I also remember Bush and his supporters crowing about the highest percent of homeownership in history under his administration, which of course was facilitated by the Frank led legislation that created the mortgage fiasco.

President Bush was more of a blue dog democratic than a Republican

 

[chaseball]

President Bush was more of as blue dog democratic than a Republican

Both parties are so far right on the spectrum relative to the rest of the first world there isn't even a healthy debate in this country.
Republicans = ultra right
Democrats = moderate right

And that only really stands on social issues. On issues of economics/fiscal policy both parties are ultra right.

 

[deadirishpoet]

Both parties are so far right on the spectrum relative to the rest of the first world there isn't even a healthy debate in this country.
Republicans = ultra right
Democrats = moderate right

And that only really stands on social issues. On issues of economics/fiscal policy both parties are ultra right.

And yet people are still trying to get into this country by the millions.

Why is that?

One more thing. If you think the Democrats are moderate right please stick to football

 

[chitown sot]

Damn, actually in agreement with Ivan over something. Always disapproved of this practice, which I think was initially allowed by legislation signed by Clinton.

A Libby making sense doesn't happen very often. Score 1 point for Ivan.

 

[chitown sot]

Both parties are so far right on the spectrum relative to the rest of the first world there isn't even a healthy debate in this country.
Republicans = ultra right
Democrats = moderate right

And that only really stands on social issues. On issues of economics/fiscal policy both parties are ultra right.

Dumbocrats are "moderate right". Have you been smoking crack or shooting heroin?

 

[chaseball]

Dumbocrats are "moderate right". Have you been smoking crack or shooting heroin?

Relative to the rest of the first world, yes, very much so.

I've touched on this in previous posts: The *real* political divide in america isn't democrats vs republicans, conservatives vs liberals, black vs white, gay vs straight, etc. etc. both parties represent the establishment/status quo in today's political environment.

The real divide in america is the wealthy elite and the corporate class vs everybody else.

Turn off the TV/stay away from mainstream media news outlets and pick up a book. Read anything on the modern economy, the media, and american politics by authors like Noam Chomsky, Chris Hedges, Thom Hartmann, etc. (youtube their speeches and debates). These authors are some of the best intellectuals, philosophers, and critical thinkers of our time.

 

[deadirishpoet]

Are you freaking stoned.
Those authors are a waste of my time.


NoamChomsky = Anti capitalist
ChrisHedges = Radical progressive
Thom Hartmann = progressive political commentator. ,

 

[BodiTheGreat]

Both parties are so far right on the spectrum relative to the rest of the first world there isn't even a healthy debate in this country.
Republicans = ultra right
Democrats = moderate right

And that only really stands on social issues. On issues of economics/fiscal policy both parties are ultra right.

Your views on football and politics suck in a major way.

 

[chaseball]

Are you freaking stoned.
Those authors are a waste of my time.


NoamChomsky = Anti capitalist
ChrisHedges = Radical progressive
Thom Hartmann = progressive political commentator. ,

Any intellectuals/anybody in academia/etc. who challenges our systems/questions the establishment is considered some kind of radical progressive wonk.

I'd challenge you to actually read their work with an open mind and come to your own conclusions.

Throw in Capital in the Twenty-First Century by Thomas Picketty (this is not a political book -- it's written by a french economist and is about extreme wealth concentration at the top and the scary ramifications/consequences that has on society as a whole).

 

[deadirishpoet]

Any intellectuals/anybody in academia/etc. who challenges our systems/questions the establishment/etc. is considered some kind of radical progressive wonk.

I'd challenge you to actually read their work with an open mind and come to your own conclusions.

Throw in Capital in the Twenty-First Century by Thomas Picketty (this is not a political book -- it's written by a french economist and is about extreme wealth concentration at the top and the scary ramifications/consequences that has on society as a whole).

Isn't France a socialist country now?

Btw their wikipedia is calling them anti capitalist/progressive not me.
I've seen enough of the world to know how I want to live and it's doesn't fit what they are selling

 

[Patrirish]

8th man,

More than the repeal of Glass-Steagall, the Community Investment Act, which forced banks to lend money to people who couldn’t pay them back, paved the way to the recession. The accelerant was the media.

 

[Patrirish]

Chaseball,

You can’t be serious, those are the authors you identify with ?

Who composes the “corporate class” you refer to ?

Hard working people who started with nothing except an idea, some smarts and a strong work ethic, who built a business from nothing in their garage into a business that employs thousands ?

That “corporate class” ? ?

Class warfare fails everywhere.

When business flourishes, labor flourishes and when business and labor are flourishing, the tax base flourishes, allowing government to fund more programs for the less fortunate.

There’s a reason that millions and millions are flocking to America more than any other country on the planet, legally and illegally, because America is the land of opportunity where a poor immigrant can become a multi-millionaire.

You and your ilk want to take the greatest nation in the world and destroy it with your misguided ideas.

 

[deadirishpoet]

8th man,

More than the repeal of Glass-Steagall, the Community Investment Act, which forced banks to lend money to people who couldn’t pay them back, paved the way to the recession. The accelerant was the media.

Exactly

 

[deadirishpoet]

Chaseball,

You can’t be serious, those are the authors you identify with ?

Who composes the “corporate class” you refer to ?

Hard working people who started with nothing except an idea, some smarts and a strong work ethic, who built a business from nothing in their garage into a business that employs thousands ?

That “corporate class” ? ?

Class warfare fails everywhere.

When business flourishes, labor flourishes and when business and labor are flourishing, the tax base flourishes, allowing government to fund more programs for the less fortunate.

There’s a reason that millions and millions are flocking to America more than any other country on the planet, legally and illegally, because America is the land of opportunity where a poor immigrant can become a multi-millionaire.

You and your ilk want to take the greatest nation in the world and destroy it with your misguided ideas.

As simple to understand as 1+1=2

 

[chitown sot]

As simple to understand as 1+1=2

Not to a Libby