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Thread: Signs of declining economic security

  1. #131
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    Re: Signs of declining economic security

    Quote Originally Posted by TheNextEra View Post
    Both. I give plenty to charities in time volunteering and money. I am also a life-time member of the VFW and do volunteer effort there as well. Maybe you would like to share with us how charitable you are with your money and time.
    That is excellent. Communities are built from the inside out, not from the top down.

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    Re: Signs of declining economic security

    Quote Originally Posted by ReformCollege View Post
    If it doesn't really have implications for his presidency, then I don't really care. I'm sure there are a minority of people with irrational opinions of him due to his race. It may get media attention, but that doesn't exactly make it important. To me, its just noise. If it makes you feel any better, anytime I run across these people in person, I put them in their place and move on from it. And I don't even like the guy.
    Didn't say it was important to you either. Merely that race played a role here.

    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.

  3. #133
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    Re: Signs of declining economic security

    Put the blame on the recession where it belongs.

    In today's news:
    The Financial Crisis Cost More Than $14 Trillion: Dallas Fed Study

    7/30/2013


    The financial crisis likely cost at least a year's worth of U.S. economic output, a new Fed study finds.

    Worse, it's hurting the economy even now and will hurt it for years to come.

    That is the cheerful conclusion of a new study by economists at the Dallas Federal Reserve, entitled "How Bad Was It? The Costs and Consequences of the 2007–09 Financial Crisis."

    So how bad was it? Really, really bad:

    The economists say a "conservative" estimate of the damage is $14 trillion, or roughly one year's U.S. gross domestic product. This is based on how much output was lost during the crisis and Great Recession, along with all the damage done to potential future economic growth.

    This is a factoid worth keeping in mind the next time bank lobbyists and flaks warn, as they habitually do,

    that new rules and regulations could slow the U.S. economy. Will rules to safeguard the economy vaporize $14 trillion in GDP? No? Then they're probably worth doing.

    "Given our range of estimates, the tepid economic recovery, and the litany of other adverse effects stemming from the Second Great Contraction, we suggest that the total domestic cost is likely greater than the equivalent of an entire year's output," the Dallas Fed economists write. "Thus, it is crucial to identify the primary causes and implement effective policy to avoid future episodes whose magnitude could exceed even the staggering costs and consequences of the most recent financial crisis."

    The Dallas Fed's numbers are consistent with a handful of other recent studies that have found crisis costs of anywhere from $13 trillion to $17 trillion to $22 trillion.
    read more:

    The Financial Crisis Cost More Than $14 Trillion: Dallas Fed Study
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    Re: Signs of declining economic security

    Quote Originally Posted by TheNextEra View Post
    He also inherited Iraq, Guantanemo,
    Afghanistan, the job loss due to MANY reason, etc.

    I like how you left those things out and Bush IS responsible for BOTH Iraq and Afghanistan as it was HIS choice for all of them as well as the spending and government increases. He also wasted time on flag burning amendments and anti-gay marriage amendments instead of focusing on the housing market as you claim. Sorry, but you cannot ignore those factors no matter how you want to spin everything on Clinton.

    Clinton, Bush 2 and Obama have been lousy presidents. At least I can admit that, you cannot fathom anything being Bush's fault.
    The IRAQ narrative has already been dealt with on this forum multiple times.

    The Democrats voted to go to war and in the late 90s Clinton and his administration were making multiple public statements about Saddam's Weapons of Mass Destruction.

    " One way or the other, we are determined to deny Iras the capacity to develop weappns of Mass Destruction "
    Clinton 1998

    " If Saddam rejects peace and we have to use force, our purpose is clear. We want to seriously diminish the threat posed by Iraq's weapons of Mass Destruction program ".
    Clinton 1998.

    So spare me ok ? Every critique coming fron the left of George Bush is absolute nonsense.

    A manufactured set of narratives placed before ignorant people that led to the election of Obama and our perpetual economic stagnation.

  5. #135
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    Re: Signs of declining economic security

    Quote Originally Posted by Boo Radley View Post
    Didn't say it was important to you either. Merely that race played a role here.
    Played a role in what? Just people's opinions?

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    Re: Signs of declining economic security

    Quote Originally Posted by Fenton View Post
    The IRAQ narrative has already been dealt with on this forum multiple times.

    The Democrats voted to go to war and in the late 90s Clinton and his administration were making multiple public statements about Saddam's Weapons of Mass Destruction.

    " One way or the other, we are determined to deny Iras the capacity to develop weappns of Mass Destruction "
    Clinton 1998

    " If Saddam rejects peace and we have to use force, our purpose is clear. We want to seriously diminish the threat posed by Iraq's weapons of Mass Destruction program ".
    Clinton 1998.

    So spare me ok ? Every critique coming fron the left of George Bush is absolute nonsense.

    A manufactured set of narratives placed before ignorant people that led to the election of Obama and our perpetual economic stagnation.
    Yes, the Iraq decision from Congress was giving Bush the OK to order the actions. Congress didn't say he HAD to do it. Bush made that decision. Sorry, but the righty spin can't get passed that fact. It was Bush's decision to go into Iraq.

    Yet again you have shown intellectual dishonesty to not put ANY blame to Bush. I have plenty of criticism over Obama's actions which is what led to me not voting for him in 2012. Do you have any honesty whatsoever?

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    Re: Signs of declining economic security

    Quote Originally Posted by minnie616 View Post
    Put the blame on the recession where it belongs.

    In today's news:


    read more:

    The Financial Crisis Cost More Than $14 Trillion: Dallas Fed Study
    Lol. This is quite a pathetic study. Its saying nothing more than "well if we lived in a perfect world and recessions never happened, then we would've produced $14T more over some unmentioned period of time." Well no **** sherlock. Comparing a fantasy, alternative reality where growth is permanently fixed at some arbitrary to a real world actuality is absolutely useless. Its like me saying "well us not having 20% growth every single year has cost us a quadrillion dollars!" Its unrealistic expectations. Furthermore, it isn't offering any proof that the new rules/regulations would A. prevent a future crisis or B. cost less then $14T in economic impact over a period of time.

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    Re: Signs of declining economic security

    Quote Originally Posted by TheNextEra View Post
    Yes, the Iraq decision from Congress was giving Bush the OK to order the actions. Congress didn't say he HAD to do it. Bush made that decision. Sorry, but the righty spin can't get passed that fact. It was Bush's decision to go into Iraq.

    Yet again you have shown intellectual dishonesty to not put ANY blame to Bush. I have plenty of criticism over Obama's actions which is what led to me not voting for him in 2012. Do you have any honesty whatsoever?
    LOL. In otherwords "we gave the okay, but its completely your fault." And you want to talk about dishonesty.

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    Re: Signs of declining economic security

    Quote Originally Posted by ReformCollege View Post
    LOL. In otherwords "we gave the okay, but its completely your fault." And you want to talk about dishonesty.
    Sorry, but the decision to go into Iraq was Bush's. No spin about that. I can say the same about some decisions Obama has made as well. That's personal responsibility. My work had given me the ok to purchase items needed for a task to do. However, what I purchased was MY choice and MY responsibility. Same with Bush's decision, it was HIS choice and HIS responsibility.

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    Re: Signs of declining economic security

    Quote Originally Posted by ReformCollege View Post
    Lol. This is quite a pathetic study. Its saying nothing more than "well if we lived in a perfect world and recessions never happened, ...
    This last recession was unlike any other I ever experienced.
    The financial meltdown cost us much more than any other recession since the Great depression.

    I think most of the blame for this past recession falls on the pure greed of the financial institutions.

    Although the financial institutions would like us to believe and have led us to believe that mandated mortgage lending is the reason they are in trouble ,
    I believe the Credit Default Swaps are the real reason that our financial institutions were in dire straights.

    This last recession was unlike any other I ever experienced.
    In the past we had manufacturing crisis, fuel crisis, inflation crisis, dot. com crisis etc.

    In the last 40 years every other recession our country was in those who had very good or excellent credit were able to get loans. Those loans may have come with double digit interest but they were still available.

    This last recession was different because the lending institutions did not have the money to loan.

    I think the problem started way before the mandated mortgage lending.
    I think it stated back in 1997 when the JP Moragn came up with a wonderfully evil ( my words) idea to free up their monies called Credit Default Swaps.

    The Credit Default Swaps were invented in 1997 by a team working for JP Morgan. They were designed to shift the risk of default to a third-party, as this shifted risk did not count against their regulatory capital requirements. In essence the swaps were created as a regulatory loophole


    Basically banks used to need to keep monies on hand to back up loans. The financial institutions decided they could free up more money for loans if they had a 3rd party be responsible if a loan was defaulted.
    Kind of like an insurance policy but unlike a real insurance company which is regulated these 3rd party companies are not regulated and did NOT have the money to pay the defaults and that is why our financial institutions are in such a mess.

    The banks kept lending money they did not really have until lots of defaults are coming in with no one to pay the defaults.
    Then the financial institutions almost collapsed and we the taxpayers ended up bailing them out.

    More info on Credit Default Swaps:

    Credit Default Swaps: The Next Crisis? - TIME
    When it comes to matters of reproduce health, Politicians and the religious dogma of another faith should never interfere with religious liberty of an individual or her faith.

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