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Thread: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

  1. #221
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by dad2three2001 View Post
    No I don't, the federal reserve AND Bush's working group said it was

    "Bush’s Working Group on Financial Markets October 2008

    The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007. "
    LOL !!

    The Presidents working group again ?

    I want YOU to explain exactly how the Subprime mortgage crisis was born out of a change in standards that started in 2004.

    Dont quote text out of context, dont post hack links to leftist sites like Salon.

    No, I want everyone here to know how LITTLE you actually understand about the Subprime mortgage crisis.

    I want you to quantity the Subprime loans made after 2004 and tie it to the apparent beginning, buildup and collapse of the Subprime mortgage market.

    Lem'me guess, you won't because you CAN'T because you've NEVER truly educated yourself on this issue.

    Googling to back up your Bush blame isn't going to get you there.

    So you're going to repeat yourself, and post the same BS links and run away.

    C'mon, its a direct challenge from a proud Conservative ( Me ) to a Liberal ( You ).

    Should be no problem right ? You're smarter than a Conservative aren't you ?

    Explain in DETAIL how the fraction of a percent of Subprime loans made after 2004 caused the largest Bubble in History.

    I want YOUR explanation, not links or text in CAPS out of context.

    I can offer up a detailed explanation gojng back to 1992 without links.

    So Ill wait for your synopsis and if you cant do it, at least be man enough to admit you don't know what the hell it is you're talking about.

  2. #222
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Slyfox696 View Post
    Yes, if I was constantly being proven to not have any idea what I was talking about and constantly being proven wrong with actual statistics, I'd want to leave also. Have a good day, and I hope the next time you discuss this topic you remember what I and others have taught you.
    92,000,000 people aren't working. And you are the stats god?

    LOL, only in your warped little delusional world.

  3. #223
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Fenton View Post
    LOL !!

    The Presidents working group again ?

    I want YOU to explain exactly how the Subprime mortgage crisis was born out of a change in standards that started in 2004.

    Dont quote text out of context, dont post hack links to leftist sites like Salon.

    No, I want everyone here to know how LITTLE you actually understand about the Subprime mortgage crisis.

    I want you to quantity the Subprime loans made after 2004 and tie it to the apparent beginning, buildup and collapse of the Subprime mortgage market.

    Lem'me guess, you won't because you CAN'T because you've NEVER truly educated yourself on this issue.

    Googling to back up your Bush blame isn't going to get you there.

    So you're going to repeat yourself, and post the same BS links and run away.

    C'mon, its a direct challenge from a proud Conservative ( Me ) to a Liberal ( You ).

    Should be no problem right ? You're smarter than a Conservative aren't you ?

    Explain in DETAIL how the fraction of a percent of Subprime loans made after 2004 caused the largest Bubble in History.

    I want YOUR explanation, not links or text in CAPS out of context.

    I can offer up a detailed explanation gojng back to 1992 without links.

    So Ill wait for your synopsis and if you cant do it, at least be man enough to admit you don't know what the hell it is you're talking about.
    Easy

    Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse

    The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets OCT 2008


    2004 Republican Convention:

    Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
    ...

    Thanks to our policies, home ownership in America is at an all- time high.

    (APPLAUSE)

    Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."


    US HOUSEHOLD DEBT DOUBLED UNDER BUSH

    A McKinsey Global Institute report noted “from 2000 through 2007, a remarkable run-up in global home prices occurred.”

    Examining the big lie: How the facts of the economic crisis stack up | The Big Picture


    Jun 16, 2005

    According to estimates by The Economist, the total value of residential property in developed economies rose by more than $30 trillion over the past five years, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs.

    The global housing boom: In come the waves | The Economist

    DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

    Eliot Spitzer - Predatory Lenders' Partner in Crime


    Dubya was warned by the FBI of an "epidemic" of mortgage fraud in 2004. He gave them less resources.

    FBI saw threat of loan crisis - Los Angeles Times



    Later in 2004 Dubya allowed the leverage rules to go from 12-1 to 33-1 which flooded the market with cheap money!

    The SEC Rule That Broke Wall Street

    2004:
    Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie

    (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.

    Home builders fight Bush's low-income housing - Jun. 17, 2004


    "(In 2000, CLINTON) HUD restricted Freddie and Fannie, saying it would not credit them for loans they purchased that had abusively high costs or that were granted without regard to the borrower's ability to repay."

    How HUD Mortgage Policy Fed The Crisis

    "In 2004 (BUSH), the 2000 rules were dropped and high‐risk loans were again counted toward affordable housing goals."

    http://www.prmia.org/sites/default/f..._090911_v2.pdf



    In 2000 (BEFORE BUSH), securitization vehicles (entities classified as asset-backed security issuers and finance companies by the Federal Reserve) financed $572 billion in residential mortgages, equal to nearly 12% of all household mortgage debt outstanding. By the end of 2006, the volume of outstanding mortgages financed by PLS had grown to over $2.6 trillion, or more than 27% of all residential mortgage debt. The MOST EXPLOSIVE GROWTH occurred in 2004 and 2005 when the outstanding mortgage debt financed by PLS increased by 49% and 44% respectively.


    It is important to note that these growth rates reflect net annual changes in total mortgage debt; when refinancings of existing PLS - funded mortgages are included, the growth rates on gross PLS issuance during these years EXCEED 90%


    http://business.gwu.edu/creua/resear...ie-freddie.pdf

    “there is not enough AAA debt in the world to satisfy demand.”


    One president controlled the regulators that not only let banks stop checking income but cheered them on. And as president Bush could enact the very policies that caused the Bush Mortgage Bubble and he did. And his party controlled congress.

  4. #224
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Erod View Post
    92,000,000 people aren't working. And you are the stats god?

    LOL, only in your warped little delusional world.

    Lowest sustained effective tax burden on the 'job creators' in 80+ years? Perhaps they don't have enough incentive to hire?

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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by dad2three2001 View Post
    Lowest sustained effective tax burden on the 'job creators' in 80+ years? Perhaps they don't have enough incentive to hire?
    Right, and we all know that taxes to fund a 3.9 trillion dollar govt. are much more important than people keeping more of what they earn. Liberal logic and of course liberal desires to keep people dependent.

    I understand this is hard for you to understand but economic growth is tied to a great extent to personal income and take home pay. Only in the liberal world does spending trump personal income and the govt. never needs to cut spending just collect more revenue?

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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Erod View Post
    92,000,000 people aren't working. And you are the stats god?

    LOL, only in your warped little delusional world.
    It's 101,000,000 age 16+ not in prison or an institution thy aren't working. Your 92 million are those not trying to work. Over half are old, disabled, both, students, stay home soused etc.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

  7. #227
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Erod View Post
    92,000,000 people aren't working. And you are the stats god?

    LOL, only in your warped little delusional world.
    Do you REALLY expect every single high schooler and college student to have a job? Do you REALLY expect my 99 year old grandmother to have a job?

    Really?
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  8. #228
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by imagep View Post
    Do you REALLY expect every single high schooler and college student to have a job? Do you REALLY expect my 99 year old grandmother to have a job?

    Really?
    Maybe he doesn't consider them "people"
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

  9. #229
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Demon of Light View Post
    Do you just not like facts that disagree with you or something? The working-age population has increased considerably, while employment levels are at the same level they were before the increase. Obviously, that translates to a lower labor-force participation rate among people below retirement age and thus points to the labor force participation figure not being affected merely by retirement of baby-boomers. What you are saying is completely at odds with what every single expert has said about the labor-force participation rate. It is a reflection of the economy that labor-force participation rates have declined so much, not demographics.
    No.

    the CLFPR includes people over 65, and every high school and college age person. That's one of the issues with that metric.

    Due to the fact that the baby boomers have been retiring in mass, we now have a larger percent of retired people than ever, which makes the CLFPR look much worse than it actually is. We should probably narrow the age range to something like age 25-65.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  10. #230
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    Re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by imagep View Post
    Do you REALLY expect every single high schooler and college student to have a job? Do you REALLY expect my 99 year old grandmother to have a job?

    Really?
    That's only 18-65 year old people.

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