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Thread: Obama sends Congress $3.77T spending plan, riles both sides

  1. #71
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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by iguanaman View Post
    Went along? They turbo-charged it and even protected the banks from State regulation against predatory mortgages. The subprime mortgages sold during the Bush years were unlike ANY before. The violated many State laws with their "teaser" rates and balloon interest rates that often tripled the monthly payment after 2 years. The were WRITTEN to fail and that is what they did.
    Are ARM's illegal today? I think not as I have one. If you're too stupid to understand what you're signing, don't sign...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by falcata View Post
    No. what has taken down many civilizations was their inability to adapt with changing times and technologies usually because of conservatives ideals. Again Imperial China at many points the most powerful nation on earth succumb to their conservative policies.

    Please give me a valid example.
    Yes, Barrack Obama's policies may have worked quite well in Imperial China. Unfortunately he's in the here and now.

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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by Grant View Post
    Yes, Barrack Obama's policies may have worked quite well in Imperial China. Unfortunately he's in the here and now.
    That is not the point of this conversation. It's just a general statement of whether liberalism or conservatism usually leads to the end of most great civilizations.
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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by falcata View Post
    That is not the point of this conversation. It's just a general statement of whether liberalism or conservatism usually leads to the end of most great civilizations.
    And you feel that the policies of Imperial China equate to the situation facing the United States today? Or is it your claim that change, any change, is good?

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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by Conservative View Post
    Here is the chart you want to ignore.... Declining labor force each month of 2013.
    And here's the chart you want to ignore.



    The decline in labor participation started in 2002.

    It's not because of government policies, it's a long-term demographic and structural shift.

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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by Grant View Post
    And you feel that the policies of Imperial China equate to the situation facing the United States today? Or is it your claim that change, any change, is good?
    Nope. Never said that. Like I said I was just trying to make a general point.

    I think our problem is more of a parallel to the 1920's though, if you'd really like to know.
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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by AlabamaPaul View Post
    Are ARM's illegal today? I think not as I have one. If you're too stupid to understand what you're signing, don't sign...
    Wrong. Balloon rates are not the same as ARMS which are pegged to other indices. Balloon rates were predestined to rise no matter what the "Prime Rate" and if Borrower noticed they were simply told that they could refinance in 2 years before the balloon rates took effect. Some did just that until the music stopped and they were out of chairs. Like I said the Bush subprimes were illegal in many States, written to fail, and given the GOP stamp of approval.

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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by iguanaman View Post
    Wrong. Balloon rates are not the same as ARMS which are pegged to other indices. Balloon rates were predestined to rise no matter what the "Prime Rate" and if Borrowers noticed they were simply told that they could refinance in 2 years before the balloon rates took effect. Some did just that until the music stopped and they were out of chairs. Like I said, illegal in many States, written to fail, and given the GOP stamp of approval.
    Was there any part of "If you're too stupid to understand what you're signing, don't sign..." that you misunderstood?
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by falcata View Post
    Not opinion, but fact. China failed to modernize and could not compete with western nations in the 1800's. This caused the British to thrash the Chinese in the First Opium war, Leaving them vulnerable to the west for the rest of the century. You criticize another for not knowing history, but you don't even know it yourself.

    You still haven't given me an example of a great nation succumbed to their liberal policies. You said there were several so i'm sure it won't be hard.

    You want Chinese wages here? Didn't think so. China is a Communist country. Nations succumbing to liberal policies are France, Greece, Cyprus, Ireland, Italy, want me to go on? All you have to is look at unemployment, GDP growth, debt

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    Re: Obama Budget, higher taxes and more spending

    Quote Originally Posted by falcata View Post
    Nope. Never said that. Like I said I was just trying to make a general point.

    I think our problem is more of a parallel to the 1920's though, if you'd really like to know.
    That's a better point, thanks, and you might be right.

    People weren't nearly as dependent on government then as they are now, and have fewer valuable skills.There'll be hell if you're correct.

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