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Thread: Breaking: Agreement has been reached on raising the debt limit....

  1. #441
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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    I don't see where Demcorats were in a position to do anything until 2007 when they became the majority party. Not that they wanted to, mind you.
    Democrats controlled the Senate in 2001-2002 and had control of the committees including oversight committees. Now what was the Democrat Position on home ownership?

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    What was the Democrat Plan on home ownership?
    Asked and answered.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    June 1981, what economic plan did Reagan have in place that caused that recession?
    Asked and answered.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Ever pay 17+% interest rate for a mortgage? Ever live under 20+ misery index? A tough recession today is not being able to get the latest cell phone or an IPAD
    This recession is much worse, for a number of reasons. First, people lost MUCH more money from their retirement and investment accounts. Second, far fewer people have guaranteed pensions than they had 40 years ago. Third, while mortgage rates are very low, millions of people have lost a huge amount of value in their homes -- usually a person's biggest investment. And of course many people have lost their homes altogether. This recession is also structural ... literally, insofar as it will be many years before the construction industry recovers.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Democrats controlled the Senate in 2001-2002 and had control of the committees including oversight committees. Now what was the Democrat Position on home ownership?
    It's irrelevant as it wasn't government housing policy that caused the meltdown.

  6. #446
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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    You haven't proven that nor do the numbers support it.
    Hmmmm

    The financial crisis that broke out in the United States around the summer of 2007 and crested around the autumn of 2008 had destroyed US$34.4 trillion of wealth globally by March 2009, when the equity markets hit their lowest points.

    On October 31, 2007, the total market value of publicly traded companies around the world reached a high of $63 trillion. A year and four months later, by early March 2009, the value had dropped more than half to $28.6 trillion. The lost $34.4 trillion in wealth is more than the 2008 annual gross domestic product (GDP) of the US, the European Union and Japan combined. This wealth deficit effect would take at least a decade to replenish even if these advanced economies were to grow at mid-single digit rate after inflation and only if no double-dip materialized in the markets. At an optimistic compounded annual growth rate of 5%, it would take more than 10 years to replenish the lost wealth in the US economy.

    In the US, where the crisis originated after two decades of monetary excess that encouraged serial debt bubbles, the NYSE Euronext (US) market capitalization was $16.6 trillion in June 2007, more than concurrent US GDP of $13.8 trillion. The market capitalization fell by almost half to $7.9 trillion by March 2009. US households lost almost $8 trillion of wealth in the stock market on top of the $6 trillion loss in the market value of their homes. The total wealth loss of $14 trillion by US households in 2009 was equal to the entire 2008 US GDP.

    As the financial crisis broke out first in the US in July 2007, world market capitalization took some time to feel the full impact of contagion radiating from New York, which did not register fully globally until after October 2007. In 2008 alone, market capitalization in EAME (Europe, Africa, Middle East) economieslost $10 trillion and Asian shares lost around $9.6 trillion.
    You don't think that 40% of life savings didn't vanish in the 81-82 recession? Keys to homes were thrown at the banks, foreclosures were every bit as bad if not worse than now and savings were wiped out by mortgages and inflation.
    Not since the Great Depression has the world witnessed such an amount of wealth lost on a relative scale.

    You fail; and fail miserably. Blindly following an ideology has that effect.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post

    This does not refute my claim that our recent financial crisis was by far the most damaging to the macro economy since the great depression. Ever witness 40% of your life savings vanish within 3 months?
    Conservative claims he is more knowledgable than leading economists and knew before the recession was delcared in December of 2008 that we were in a recession and pulled his money out of his 401K before losing it.

    Of course, he also claimed to have such bold confidence inthe market after Obama took over, that he claims he re-invested much of it.

    Come to think of it, Conservative makes all sorts of claims. Hmmm.

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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    Asked and answered.
    No it hasn't, you haven't a clue but continue to divert from not only the thread topic but also the Obama record. ACORN wasn't a GOP supporter. Barney Frank and Chris Dodd believed Home ownership was a civil right. Democratic position on home ownership mirrored ACORN and the Frank/Dodd position. Hard to deal with someone like you who ignores the issues but is a partisan supporter of failed liberalism

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    Here we go again, CBO gave the numbers I divided the cost by that number. Obama claims that jobs were saved, BLS doesn't show jobs saved.
    You didn't just give them -- you said those were Obama's results.

    Well those results resulted in 3.5 million jobs saved and created. That's what you said. The CBO never said that. Truth be told, you actually got that $228K figure from a Fox news blog. That's what you get for mindlessly parroting rightwing rags.

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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    Conservative claims he is more knowledgable than leading economists and knew before the recession was delcared in December of 2008 that we were in a recession and pulled his money out of his 401K before losing it.

    Of course, he also claimed to have such bold confidence inthe market after Obama took over, that he claims he re-invested much of it.

    Come to think of it, Conservative makes all sorts of claims. Hmmm.
    That is all he does. Making claims on the internet/posting with the gift of hindsight is vindicating to some.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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