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Thread: U.S. Jobless Rate Unexpectedly Declines to 8.6%

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Gill View Post
    First, if you truly believed that, you wouldn't link to sites like Media Matters.

    Second, McClatchey has a well known liberal bias.
    Thanks for making my point.

    As Boo pointed out, just because a source has a general bias doesn't mean that everything they say is wrong or inaccurate. It does suggest that one might take a little extra care in fact checking them.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Conservative View Post
    The question is how can anyone support the liberal belief system and not support the foundation upon which this country was built which is individual wealth creation and equal opportunity, not equal outcome and no consequences for failure?
    In the liberal world it is all about equal outcome and not just about equal opportunity. Liberals don't seem to understand the concept.

    No one forced individuals to sign on contracts that had a escalator clause in them. People bought homes that they couldn't afford. Freddie and Fannie bought toxic mortgages. There are consequences for poor choices and that just doesn't fit the liberal ideology. Creating dependence is what liberals always do thus retaining power.
    No one forced anyone to buy a house that they couldn't afford, nor to make a loan that enabled someone to buy a house that they couldn't afford.

    However, a lot of people made a lot of money doing just that before the whole house of cards collapsed. It was much like putting money on a roll of the dice, except that the money on the table was mostly someone else's money.

    The role the government should have played, but didn't, was to have outlawed the outrageous gamble with leveraged money.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Conservative View Post
    The question is how can anyone support the liberal belief system and not support the foundation upon which this country was built which is individual wealth creation and equal opportunity, not equal outcome and no consequences for failure?
    In the liberal world it is all about equal outcome and not just about equal opportunity. Liberals don't seem to understand the concept.

    No one forced individuals to sign on contracts that had a escalator clause in them. People bought homes that they couldn't afford. Freddie and Fannie bought toxic mortgages. There are consequences for poor choices and that just doesn't fit the liberal ideology. Creating dependence is what liberals always do thus retaining power.
    I'm not convinced you understand the foundation this country was built on. Our founding fathers, for their time, we quite progressive. Had they been more conservative, they would have accepted Brittians taxsation without representation (not no taxes btw).

    You make many hyperbolic leaps in reasoning, and seem to be fixated on liberal versus conservative thought. We actually need both, as both serve a purpose.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    Thanks for making my point.

    As Boo pointed out, just because a source has a general bias doesn't mean that everything they say is wrong or inaccurate. It does suggest that one might take a little extra care in fact checking them.
    Did you take the time to "fact check" the sources that you proclaimed:

    The sources you are using are out-and-out right wing mouthpieces.
    or........ are your rules for everyone but yourself ???

    were they "wrong or inaccurate" ?? Don't bother answering. We all know you probably didn't bother to look at them, much less check our the veracity of their claims.


    in other words, once again, I say you are a hypocrite.

    Thanks for making MY point.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Dittohead not! View Post
    No one forced anyone to buy a house that they couldn't afford, nor to make a loan that enabled someone to buy a house that they couldn't afford.

    However, a lot of people made a lot of money doing just that before the whole house of cards collapsed. It was much like putting money on a roll of the dice, except that the money on the table was mostly someone else's money.

    The role the government should have played, but didn't, was to have outlawed the outrageous gamble with leveraged money.
    Actually, banks were forced to give loans to many people that should never have gotten home loans.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Gill View Post
    Did you take the time to "fact check" the sources that you proclaimed:



    or........ are your rules for everyone but yourself ???

    were they "wrong or inaccurate" ?? Don't bother answering. We all know you probably didn't bother to look at them, much less check our the veracity of their claims.


    in other words, once again, I say you are a hypocrite.

    Thanks for making MY point.
    Yes, I've actually read up quite a lot on this subject, including a book that examined the roots of the financial meltdown at length (Kevin Phillips, "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism"). The sources I cited above include a mainstream newspaper, a government investigation report, and a report by the Federal Reserve, which are all in agreement on the salient points. Of course I also read the Forbes article, which in fact doesn't contradict any of the main points.

    So no, I'm not a hypocrite. But keep drinking the Koolaid. I'm sure it's delicious.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Gill View Post
    Actually, banks were forced to give loans to many people that should never have gotten home loans.
    Actually they weren't. Actually the CRA itself specifically requires the banks NOT to issue any loans that they judge the mortgagee will be unable to repay.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Boo Radley View Post
    I'm not convinced you understand the foundation this country was built on. Our founding fathers, for their time, we quite progressive. Had they been more conservative, they would have accepted Brittians taxsation without representation (not no taxes btw).

    You make many hyperbolic leaps in reasoning, and seem to be fixated on liberal versus conservative thought. We actually need both, as both serve a purpose.
    Don't think so as I don't recall the Founders promoting a large central govt. and nanny state. With the Founders it was about people helping people, not the government taking from people to redistribute to someone else. Self reliance was paramount with the Founders and when people couldn't help themselves then the community would step in.

    We have a 15 trillion dollar debt today and 3.7 trillion dollar Federal Govt. Do you think that our Founders would have agreed with either?

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    Yes, I've actually read up quite a lot on this subject, including a book that examined the roots of the financial meltdown at length (Kevin Phillips, "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism"). The sources I cited above include a mainstream newspaper, a government investigation report, and a report by the Federal Reserve, which are all in agreement on the salient points. Of course I also read the Forbes article, which in fact doesn't contradict any of the main points.

    So no, I'm not a hypocrite. But keep drinking the Koolaid. I'm sure it's delicious.
    so, you claim to have fact checked them, but........... the only comment you had was that they were right wing whacko mouthpiece sources. No comments on what was wrong with their conclusions, or comments on anything they discussed for that matter.

    Your claim has no credibility.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by AdamT View Post
    Actually they weren't. Actually the CRA itself specifically requires the banks NOT to issue any loans that they judge the mortgagee will be unable to repay.
    Actually, they were:

    On a parallel track was the Community Reinvestment Act. New CRA regulations in 1995 required banks to demonstrate that they were making mortgage loans to underserved communities, which inevitably included borrowers whose credit standing did not qualify them for a conventional mortgage loan.

    To meet this new requirement, insured banks--like the GSEs--had to reduce the quality of the mortgages they would make or acquire. As the enforcers of CRA, the regulators themselves were co-opted into this process, approving lending practices that they would otherwise have scorned. The erosion of traditional mortgage standards had begun.
    A Government-Mandated Housing Bubble - Forbes.com

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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