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Thread: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by zimmer View Post
    The economy died because of Socialist policies. Carter started CRA and then Clinton went overboard, forcing banks to make loans to people who could not pay them back.

    Militant ACORN had Obama as a helper. He was once proud and vocal. He was ACORN's attorney. Another Obama failure.

    Republicans, including McCain and Bush tried to get some sanity into the system, but Demokrats went rabid.

    Once again... it is socialist schemes that caused misery.

    Typical of Libs and as Obama says on the vid... "the original idea was a good one..."
    NO IT WAS NOT A GOOD IDEA. IT WAS DUMB. IT TANKED THE ECONOMY YOU IDIOT. IT FAILED SPECTACULARLY... AND IT CAUSED MISERY TO MILLIONS.

    But it does explain why Obama clings bitterly to his Marxism. He thinks the idea is good. The intentions are good. He ignores the fact socialism fails everywhere it is tried... it's just a matter of time.

    Here is Cuomo... Then HUD Secretary telling us why they forced banks to give loans, and admits some loans will not be paid back... as he says... it is "affirmative action" and a "greater risk", and will be "a higher rate of default". They simply did not expect their idiocy to tank the economy. It did.

    Exactly, and when it failed instead of saying that it was the reason they blamed the banks they forced to make the loans and started to put the very same things in place to do it all over again. As a result you have Obama last week saying that they want to "loosen lending standards" to the poor to stimulate the banks making loans.

    These people are dangerously stupid, and the establishment repub's that go along with it like lemmings have to go.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by Helix View Post
    .
    Quote Originally Posted by j-mac View Post
    Exactly, and when it failed instead of saying that it was the reason they blamed the banks they forced to make the loans and started to put the very same things in place to do it all over again. As a result you have Obama last week saying that they want to "loosen lending standards" to the poor to stimulate the banks making loans.

    These people are dangerously stupid, and the establishment repub's that go along with it like lemmings have to go.
    Ignorance has massive costs, and folks like Helix, are a large part of the problem. I would say folks like Helix ARE the problem, especially if they vote. Either Helix is ignorant of the truth, or choses to ignore it.

    Either way... big, big problem.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by zimmer View Post
    Ignorance has massive costs, and folks like Helix, are a large part of the problem. I would say folks like Helix ARE the problem, especially if they vote. Either Helix is ignorant of the truth, or choses to ignore it.

    Either way... big, big problem.
    i don't care enough about hyperpartisan nonsense to engage you in a discussion concerning it. have fun, and see you in the June thread.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by Helix View Post
    monthly jobs report. rage or rejoice.
    lulz

    If Obama's anything like our own leaders this side of the pond, he's taking credit for the sudden stability. Not that international capitalism is a cyclical phenomenon. No, it's their economic genius at work.

    Pricks.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by NoC_T View Post
    lulz

    If Obama's anything like our own leaders this side of the pond, he's taking credit for the sudden stability. Not that international capitalism is a cyclical phenomenon. No, it's their economic genius at work.

    Pricks.
    Oh, it's even worse. If his policies fail it's because repub's stood in the way of being able to enact them as he wanted to. And everything bad that happens is "news to him"... Hell, I wonder if he gets briefed at all.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by NoC_T View Post
    lulz

    If Obama's anything like our own leaders this side of the pond, he's taking credit for the sudden stability. Not that international capitalism is a cyclical phenomenon. No, it's their economic genius at work.

    Pricks.
    our monochromatic, "us vs them" duopoly keeps producing results which are wildly substandard.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by j-mac View Post
    Oh, it's even worse. If his policies fail it's because repub's stood in the way of being able to enact them as he wanted to. And everything bad that happens is "news to him"... Hell, I wonder if he gets briefed at all.
    Yep. Just another Billy Bull****ter.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by Helix View Post
    i don't care enough about hyperpartisan nonsense to engage you in a discussion concerning it. have fun, and see you in the June thread.
    I realize it is difficult for some to face the truth. I was once a Lib too, and learning your world view is so very wrong isn't fun. Being held up as an example of ignorance even less so.

    But, by ignoring blaring facts about what and who brought down the economy isn't beneficial to society. Learning the long proven truths should be the job of every responsible citizen, don't you think?

    Hyper-partisanship is exhibited by those who fail to recognize root causes & cures and bitterly cling to failure and deceits.

    The truth isn't hyper-partisan. It's the truth. A wonderful non-partisan gift that best serves society. You only need an open mind to accept it, even if it violently clashes with your current beliefs. I did just that, being a former Lib... and it caused me to abandon an ideology of lies and deceits.

    The truth is fundamental to learning the root cause of the failure of our economy (or anything). Carter, Clinton, Cuomo, Reno and Obama & ACORN being six key elements to the destruction.
    Last edited by zimmer; 05-17-14 at 07:16 AM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by Helix View Post
    our monochromatic, "us vs them" duopoly keeps producing results which are wildly substandard.
    No. Substandard results can be traced back to Socialist legislation.

    Look anywhere there is failure in the world and it is due to Socialism.

    PIIGS in Europe, our housing market debacle, the fall of the Iron Curtain... The Pilgrims, The ancient Persians... the history is long and clear. One simply has to stop lying to oneself, or escape the shackles of ignorance and become a well-rounded, informed citizen.

    Socialist legislation is the cause of almost all our evils. Sounds nice, but it farks society every time. It's merely a matter of time.

    The Carter, Clinton, Cuomo, Obama & ACORN housing abortion took less than 30-years, and it was Clinton, Cuomo, Obama & ACORN that put booster rockets on the failure. Of course, ignorants and bitter clingers... hyper-partisans fail to recognize the obvious... and that only adds to our problems.
    Last edited by zimmer; 05-17-14 at 07:23 AM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Economy adds 192,000 jobs; unemployment rate holds steady at 6.7%

    Quote Originally Posted by j-mac View Post
    Exactly, and when it failed instead of saying that it was the reason they blamed the banks they forced to make the loans and started to put the very same things in place to do it all over again. As a result you have Obama last week saying that they want to "loosen lending standards" to the poor to stimulate the banks making loans.

    These people are dangerously stupid, and the establishment repub's that go along with it like lemmings have to go.
    I think that's is a bit exaggerated, to say the least. I'll give you credit for not going into a rant about socialism. I've found to be well above that sort of nonsense.


    Here's my view (from Communist Central):

    The CRA simply outlawed redlining. It's very important legislation that continues to serve the national interest, and it cannot reasonably be associated with the collapse of the housing market because it did not play a significant role in the bad loans.

    It specifically cautioned against high-risk loans. Have you guys read the law, or are you at least generally familiar with its elements? It's not "socialism," it's the very heart of the American Way, enacted in furtherance of the Equal Protection Clause of the Fourteenth Amendment: to see that women and minorities are not discriminated against. It should not be distorted in an effort to gain political advantage.


    Most sub-prime loans (about 75%) were issued by institutions that were not at all or only partially regulated by the CRA. And the most irresponsible ones, with rates as much as twice as high as regulated banks and thrifts, came from independent mortgage companies.

    Just the idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly. But it’s even more ridiculous when you consider that most subprime loans were made by firms that aren’t subject to the CRA.

    Finally, keep in mind that the Bush administration has been weakening CRA enforcement and the law’s reach since the day it took office. The CRA was at its strongest in the 1990s, under the Clinton administration,a period when subprime loans performed quite well. It was only after the Bush administration cut back on CRA enforcement that problems arose,a timing issue which should stop those blaming the law dead in their tracks. The Federal Reserve, too, did nothing but encourage the wild west of lending in recent years. It wasn’t until the middle of 2007 that the Fed decided it was time to crack down on abusive practices in the subprime lending market. Oops.

    Better targets for blame in government circles might be the 2000 law which ensured that credit default swaps would remain unregulated, the SEC’s puzzling 2004 decision to allow the largest brokerage firms to borrow upwards of 30 times their capital and that same agency’s failure to oversee those brokerage firms in subsequent years as many gorged on subprime debt. — Community Reinvestment Act had nothing to do with subprime crisis

    Here's Fed chair Yellen at a conference in 2008:

    There has been a tendency to conflate the current problems in the subprime market with CRA-motivated lending, or with lending to low-income families in general. I believe it is very important to make a distinction between the two. Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans, and studies have shown that the CRA has increased the volume of responsible lending to low- and moderate-income households.

    And here's a former Clinton Treasury official at a congressional hearing:

    In fact, subprime lending exploded in the late 1990's, reaching over $600 billion and 20 percent of all originations by 2005. More than half of subprime loans were made by independent mortgage companies, another 30 percent by affiliates of banks or thrifts, and the remaining 20 percent were made by banks and thrifts themselves.

    Although reasonable people can disagree about how to interpret the available evidence, my own judgment is that the worst and most widespread abuses have occurred in the institutions with the least Federal oversight.

    I will admit that this is a complex issue and there is certainly room for disagreement. Now that you've suffered through my perspective, you might be encouraged to find support for yer view in this article: Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending.

    The sentence I'd pick out of it is: "It isn’t losses from CRA loans that drove the crisis (although they are disproportionately responsible for losses at some banks). Instead, the CRA required lax lending standards that spread to the rest of the mortgage market. That fueled the mortgage boom and bust."

    "Fueled," as in "contributed to," not "caused," or even "drove." (There are errors in that piece that get by a spellchecker; makes ya wonder if you should lend it much credibility. I say that as a loyal member of the Federated Copyeditors Union Local 743. )

    You can join me in blaming Clinton, Bush, Greenspan, and those in Congress who voted to gut the mortgage lending regulations, but I'd say yer barking up the wrong tree in laying the blame on the CRA. Finally, I would note that Dodd-Frank was passed in 2010, long after the problems in the housing market developed.

    Quote Originally Posted by zimmer View Post
    I was once a Lib too
    What happened? Do the doctors give you any hope for a recovery?

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