View Poll Results: Which party is more responsible for the state of the economy?

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  • The Republican Party

    41 62.12%
  • The Democratic Party

    25 37.88%
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Thread: Which party is more responsible for the state economy?

  1. #61
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by lpast View Post
    CP what are you talking about...lieing on their application ? people have been lieing on loan applications since the cave man days...its the LENDER that supposed to check employment, check credit, etc...YOU the borrower pay for that in an Origination Fee...its always been that way....look man you cannot clean this up for the banks and blame anyone but them for the bad loans...period.
    1. agreed the banks should have done better due diligence
    2. the fact that you were able to get away with it does not excuse committing fraud

  2. #62
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by TheDemSocialist View Post
    How did the New Deal continue the depression?
    Facts would say no it didnt. Unemployment plumented once the New Deal was initiated.

    Employment #'s:

    Number unemployed in America:

    1929
    2.6 million

    1933
    15 million

    1935
    11 million

    1937
    8.3 million

    1938
    10.5 million

    1939
    9.2 million

    1940
    8 million

    I dont know how you say that continued the depression?
    And how did it tear up the constitution?
    Sure, it's all that simple...for you and Catawba. Sorry to disappoint you.

    The Great Depression and New Deal, 1929-1939
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  3. #63
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    Re: Which party is more responsible for the state economy?

    The Republicans own the current financial disaster! No doubtr! The cost of the Iraq War, plus the Bush tax cuts broke the bank. When you put a moron in charge, you should expect less than desirable results. "Jus' bidness, don't ya' know!" And the rich got richer. Now, is that just a coincidence? Bush cronies. Gee, what a surprise. Ol' SoupForBrains was being honored at Goldman Sachs and the OWS people found out and were outside chanting for his arrest. Gee, I wonder why?

  4. #64
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by DaveFagan View Post
    The Republicans own the current financial disaster! No doubtr! The cost of the Iraq War, plus the Bush tax cuts broke the bank. When you put a moron in charge, you should expect less than desirable results. "Jus' bidness, don't ya' know!" And the rich got richer. Now, is that just a coincidence? Bush cronies. Gee, what a surprise. Ol' SoupForBrains was being honored at Goldman Sachs and the OWS people found out and were outside chanting for his arrest. Gee, I wonder why?
    Goldman sachs was and continues to be one of Obama's biggest supporters and has supplied several dem "stars" like MF bankruptcy tainted John Corzine



  5. #65
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by TurtleDude View Post
    Goldman sachs was and continues to be one of Obama's biggest supporters and has supplied several dem "stars" like MF bankruptcy tainted John Corzine
    Didn't they also supply Tim Geithner, the Paulsons, Bernanke etc. We need to shut the revolving door between the Corporatocracy and our government. They buy both sides to be safe. For the most part, Republicans represent "big money" in all of its insidious varieties. Just look at this board to see who is bitching (feeling fear) about the OWS protesters who are the 99%.

  6. #66
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by American View Post
    Sure, it's all that simple...for you and Catawba. Sorry to disappoint you.

    The Great Depression and New Deal, 1929-1939
    Yep, exactly why the Glass-Steagall Act was put in place which protected us from this happening again until its removal.

    From your article:

    "Background and Causes of the Great Depression

    The 1920s "boom" enriched only a fraction of the American people. Earnings for farmers and industrial workers stagnated or fell. While this represented lower production costs for companies, it also precluded growth in consumer demand. Thus, by the mid 1920s the ability of most Americans to purchase new automobiles, new houses and other durable goods was beginning to weaken.

    This weakening demand was masked, however, by the "great bull market" in stocks on the New York Stock Exchange. The ever-growing price for stocks was, in part, the result of greater wealth concentration within the investor class. Eventually the Wall Street stock exchange began to take on a dangerous aura of invincibility, leading investors to ignore less optimistic indicators in the economy. Over-investment and speculating (gambling) in stocks further inflated their prices, contributing to the illusion of a robust economy.

    The crucial point came in the 1920s when banks began to loan money to stock-buyers since stocks were the hottest commodity in the marketplace. Banks allowed Wall Street investors to use the stocks themselves as collateral. If the stocks dropped in value, and investors could not repay the banks, the banks would be left holding near-worthless collateral. Banks would then go broke, pulling productive businesses down with them as they called in loans and foreclosed mortgages in a desperate attempt to stay afloat.

    But that doomsday scenario was laughed off by analysts and politicians who argued the U.S. stock market had entered a "New Era" where stock values and prices would always go up. That, of course, did not happen. Stock prices were seriously over-priced (when measured in the actual productivity of the companies they represented) making a market "correction" inevitable. In October 1929 the New York Stock Exchange's house of cards collapsed in the greatest market crash seen up to that time. Students are often surprised to learn that the stock market crash itself did not cause the rest of the economy to collapse. But, because American banks had loaned so heavily for stock purchases, falling stock prices began endangering local banks whose stock-buying borrowers began defaulting on their loans."

    We need to once again separate investment banking from commercial banking as proposed in HR 1489.
    H.R. 1489 - Summary: Return to Prudent Banking Act of 2011 (GovTrack.us)
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  7. #67
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Catawba View Post
    Yep, exactly why the Glass-Steagall Act was put in place which protected us from this happening again until its removal.
    What exactly did Glass-Steagall protect us from and how did it do so?

  8. #68
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Centinel View Post
    What exactly did Glass-Steagall protect us from and how did it do so?
    Glass Steagall prevented banks too big to fail, they kept investment banking separate from commercial banking.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #69
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by DaveFagan View Post
    Didn't they also supply Tim Geithner, the Paulsons, Bernanke etc. We need to shut the revolving door between the Corporatocracy and our government. They buy both sides to be safe. For the most part, Republicans represent "big money" in all of its insidious varieties. Just look at this board to see who is bitching (feeling fear) about the OWS protesters who are the 99%.
    Both parties cater to big money. The GOP tends to favor rich people who became rich despite the government while the dems have as its main fat cats, those who are rich because of the government. Welfare socialism appeals to the uber rich



  10. #70
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    Re: Which party is more responsible for the state economy?

    "CNN/ORC Poll. Sept. 23-25, 2011. N=1,010 adults nationwide. Margin of error 3.


    "Do you think the policies of Barack Obama and the Democrats or George W. Bush and the Republicans are more responsible for the country's current economic problems?"



    Obama, Bush, Both Equally Neither
    Democrats Republicans (Vol.) (Vol.) Unsure
    % % % % %
    9/23-25/11 32 52 13 2 2
    7/18-20/11 29 57 10 3 -
    4/29-5/1/11 30 55 10 4 -
    9/1-2/10 33 53 10 3 1"

    Budget/Taxes

    Well shucks, the formatting got mixed up when it was posted. You can check the full results from the link I provided. What the poll is showing however is that, for the last year, the majority of Americans (by a 20% margin) still think Bush and the Republicans are more responsible for the economy than Obama and the Democrats.
    Last edited by Catawba; 11-04-11 at 08:39 PM.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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