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US Median Income Lowest Since 1995

Fact: Unemployment has been at or above 8% for 45 straight months....
43 straight months, actually. Feb 2009 (8.3) through Aug 2012 (8.1). You guys seem to be kind of bad at just about everything.

That sir is a failure....By Obama's own words he was supposed to have that number at 6% or lower by now.
Really? Got a link to those words? Go ahead...make my day.
 
The ironic part..most of this is the fault of the GOP and the Bush administration.. they started the slide and it is damn hard to stop such a slide...

Uh, no. That partisan hackery doesn't fly here. No one but the other Kool-Aid drinkers buy that delusion. Actually, the blame can be shared. Some of the information in the link below I agree with, and some, not so much, but the bottom line Obama lovers, it wasn't all Bush's fault. Some yes.

Remember Clinton's democratic congress who demanded lower credit and downpayment requirements for home buyers?

Does the name Barney Frank also ring a bell?

After all that inflation no wonder median incomes have rescinded to 1995 levels.

FactCheck.org : Who Caused the Economic Crisis?
 
Bunch of lazy buggers who should get off their buts and find better work rather then look to the government to save them


Like the multinational companies and the energy companies who drain trillions from our budget with government subsidies and tax breaks?
 
Μολὼν λαβέ;1060945521 said:
Uh, no. That partisan hackery doesn't fly here. No one but the other Kool-Aid drinkers buy that delusion. Actually, the blame can be shared. Some of the information in the link below I agree with, and some, not so much, but the bottom line Obama lovers, it wasn't all Bush's fault. Some yes.

Remember Clinton's democratic congress who demanded lower credit and downpayment requirements for home buyers?

Does the name Barney Frank also ring a bell?

FactCheck.org : Who Caused the Economic Crisis?


Clinton had a republican controlled Congress. Show us the bill you are talking about.
 
Also, how much did the unemployment rate tick up during Carter's term?
LOL! Not something that right-wingers like to talk about much. It was 7.5% when Carter took office and 7.5% when he left. In between, it was always lower, reaching a low of 5.6% in May 1979. The Carter years were actually an island of economic sanity in comparison to what existed on either side.
 
It's a fact that U-6 has nothing to do with unemployment. It is one of several alternate measures of labor under-utilization. Questions to enable its estimation were added to the monthly CPS questionnaire in 1993 at the request of scholars and researchers. The people who quote the number on internet forums today rarely appear to be in either category.

So what the hell are you doing here?
 
Clinton had a republican controlled Congress. Show us the bill you are talking about.

At President Clinton's direction, no fewer than 10 federal agencies issued a chilling ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties.
The threat was codified in a 20-page "Policy Statement on Discrimination in Lending" and entered into the Federal Register on April 15, 1994, by the Interagency Task Force on Fair Lending. Clinton set up the little-known body to coordinate an unprecedented crackdown on alleged bank redlining.
The edict — completely overlooked by the Financial Crisis Inquiry Commission and the mainstream media — was signed by then-HUD Secretary Henry Cisneros, Attorney General Janet Reno, Comptroller of the Currency Eugene Ludwig and Federal Reserve Chairman Alan Greenspan, along with the heads of six other financial regulatory agencies.
"The agencies will not tolerate lending discrimination in any form," the document warned financial institutions.

PrairiePundit: Document show Clinton administration caused housing crisis

The current mortgage crisis came about in large part because of Clinton-era government pressure on lenders to make risky loans in order to “make homeownership more affordable for lower-income Americans and those with a poor credit history,” the DC Examiner notes today. “Those steps encouraged riskier mortgage lending by minimizing the role of credit histories in lending decisions, loosening required debt-to-equity ratios to allow borrowers to make small or even no down payments at all, and encouraging lenders the use of floating or adjustable interest-rate mortgages, including those with low ‘teasers.’”

Clinton Pressure to Promote Affordable Housing Led to Mortgage Meltdown
 
Μολὼν λαβέ;1060945589 said:
PrairiePundit: Document show Clinton administration caused housing crisis


A Paul Sperry opinion piece? Truly>

From wiki

aul E. Sperry is a conservative pundit, author, investigative journalist, and Stanford University Hoover Institute media fellow.[1][2] In the wake of the Fort Hood Shooting, he gave an interview to Coast to Coast AM on November 7, 2009, about his co-authored book Muslim Mafia.[3]


Hardly qualifies are truths.



Clinton Pressure to Promote Affordable Housing Led to Mortgage Meltdown

And another pro-corporate blogger? Come on. FActs have data in them and no opinions.

So far, you have provided nothing.
 
LOL! Not something that right-wingers like to talk about much. It was 7.5% when Carter took office and 7.5% when he left. In between, it was always lower, reaching a low of 5.6% in May 1979. The Carter years were actually an island of economic sanity in comparison to what existed on either side.

Over 18% inflation and interest rates and a +7 misery index? I guess you enjoyed waiting in gas lines too.
 
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Ok Mr. Chips....Tell me how things happen under Bush are Bush's fault, but things that happen under Obama, are magically Congresses fault....? That is some double standard you have going on there. BRO.
Not Congress's fault, still Bush's fault. You knock over the first domino, all the rest that fall are on your tab. Young children understand this. Right-wingers apparently don't. Bush knocked over a whole lot of dominos and is on the hook for all the damage that came about as the result. He doesn't get a free pass simply because he was able to skip town before the sum of his destructive legacy could be effectively reversed. He is and always will be responsible for all of the messes that he created and all the bungling that he did.
 
Μολὼν λαβέ;1060945609 said:
Over 18% inflation and interest rates and a +7 misery index? I guess you enjoyed waiting in gas lines then.


You mean the OPEC embargo when they raised their prices on us? Carter couldn't control that and unlike Bush, he didn't kiss Saudi Princes, either.

From Wiki

. . .

The economic history of the Carter Administration can be divided in two roughly equal periods. The first two years were a time of continuing recovery from the severe 1973–75 recession, which had left fixed investment at its lowest level since the 1970 recession and unemployment at 9%.[24] The second two years were marked by double-digit inflation, coupled with very high interest rates,[25] oil shortages, and slow economic growth.[26] The nation's economy grew by an average of 3.4% during the Carter Administration (at par with the historical average).[27] Each of these two-year periods, however, would differ dramatically.

The U.S. economy, which had grown by 5% in 1976, continued to grow at a similar pace during 1977 and 1978.[27] Unemployment declined from 7.5% in January 1977 to 5.6% by May 1979, with over 9 million net new jobs created during that interim,[28] and real median household income grew by 5% from 1976 to 1978.[29] The recovery in business investment in evidence during 1976 strengthened as well. Fixed private investment (machinery and construction) grew by 30% from 1976 to 1979, home sales and construction grew another one third by 1978, and industrial production, motor vehicle output and sales did so by nearly 15%; with the exception of new housing starts, which remained slightly below their 1972 peak, each of these benchmarks reached record levels in 1978 or 1979.[24]

The 1979 energy crisis ended this period of growth, however, and as both inflation and interest rates rose, economic growth, job creation, and consumer confidence declined sharply.[25] The relatively loose monetary policy adopted by Federal Reserve Board Chairman G. William Miller, had already contributed to somewhat higher inflation,[30] rising from 5.8% in 1976 to 7.7% in 1978. The sudden doubling of crude oil prices by OPEC, the world's leading oil exporting cartel,[31] forced inflation to double-digit levels, averaging 11.3% in 1979 and 13.5% in 1980.[24] The sudden shortage of gasoline as the 1979 summer vacation season began exacerbated the problem, and would come to symbolize the crisis among the public in general;[25] the acute shortage, originating in the shutdown of Amerada Hess refining facilities, led to a lawsuit against the company that year by the Federal Government.[32]

. . .

So, holding the president accountable for decisions by the FEds and Arabs, huh? Not very learned of you. Pundits swing things to make them sound worse than they were under democrats. Might behoove you to remember that?
 
Μολὼν λαβέ;1060945610 said:
Typical, blame the messenger.

View attachment 67135038



So you are conceding you made up lies about issues just to push the pundit agenda talking points? Okay. I accept that.
 
Μολὼν λαβέ;1060945521 said:
Remember Clinton's democratic congress who demanded lower credit and downpayment requirements for home buyers?
Clinton had a Democratic Congress in 1993-94. That's all, folks.

Μολὼν λαβέ;1060945521 said:
Does the name Barney Frank also ring a bell?
Sure. He was the Ranking Member (i.e., the senior MINORITY member) of the House Financial Services Committee between 1995 and 2007. Republicans were the ones in charge of things that entire time.

Μολὼν λαβέ;1060945521 said:
After all that inflation no wonder median incomes have rescinded to 1995 levels.
All WHAT inflation? It hasn't been as high as 4% since 1991.
 
Μολὼν λαβέ;1060945589 said:
At President Clinton's direction, no fewer than 10 federal agencies issued a chilling ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. They also were threatened with denial of access to the all-important secondary mortgage market and stiff fines, along with other penalties. The threat was codified in a 20-page "Policy Statement on Discrimination in Lending" and entered into the Federal Register on April 15, 1994, by the Interagency Task Force on Fair Lending. Clinton set up the little-known body to coordinate an unprecedented crackdown on alleged bank redlining.
-- Prairie Pundit.

LOLOLOLOLOL! The Policy Statement on Discrimination in Lending is garden-variety policy guidance on what sorts of practices would be seen as constituting forms of discrimination prohibited under the Equal Credit Opportunity Act and the Fair Housing Act. Follow the link to learn what a total whackjob the so-called Prairie Pundit is.

Μολὼν λαβέ;1060945589 said:
The current mortgage crisis came about in large part because of Clinton-era government pressure on lenders to make risky loans in order to “make homeownership more affordable for lower-income Americans and those with a poor credit history...
-- The DC Examiner
Another joke. The Examiner is an advertising supplement with a bunch of right-wing propaganda cut-and-pasted into it. Meanwhile, the call to develop financing strategies fueled by the creativity and resources of the private and public sectors came in the May 1995 report presenting the results of a five-month series of private-public sector conferences and workshops called to address the fact that US home-ownership rates had declined under Reagan/Bush-41 for the first time since the Great Depression. More than fifty national organizations and hundreds of individuals involved in housing participated. You can still read their actual blue-ribbon recommmendations HERE. Nothing in this report had even the slightest effect on the subsequent evolution of the credit crisis and ensuing Great Bush Recession.
 
Μολὼν λαβέ;1060945609 said:
Over 18% inflation and interest rates and a +7 misery index? I guess you enjoyed waiting in gas lines too.
The highest annual inflation rate under Carter was 13.58% in 1980 in the midst of the oil crisis. The highest month at annual rates was 14.76% in March of that year.

The federal funds rate was at 10% or below throughout the summer of 1980, but was ramped up to 20% in December of that year in keeping with the policies of the newly elected Reagan. It stayed there all but all through 1981, being relaxed too late to help ward off what was at the time the greatest economic disaster since the Great Depression.

Aggravated by Nixon's wage-price controls, gas lines were indeed a pain during the 1973-74 oil crisis. Eventually, odd/even rationing helped bring things under control. Lines were not as widepsread or long-lasting in 1979-80 when the major problem was panicked buyers fearing a return to 1973-74 and trying to keep the tank full at all times. Unlike in the earlier version, there was actually plenty of gas to go around in 1979-80.

Oh, and the so-called "misery index" is a complete joke number that has no actual meaning at all.
 
You mean the OPEC embargo when they raised their prices on us? Carter couldn't control that...
The embargo was actually in 1973-74 and was placed against countries that had supported Israel during the 1973 Arab-Israeli war, which obviously included us. The 1979-80 crisis was initially the result of instability in Iran and Iraq being allowed to cut into production, but OPEC kind of took advantage of that situation to end up doubling the price of oil very quickly. Both of these events were what is called "exogenous shocks" -- shocks from outside the system. Neither Nixon nor Carter was responsible for them. Each had to deal with the consequences, however. Nixon and Ford couldn't avoid a rather long and deep recession. Carter was able to keep things to a brief and mild one.
 
The unions are to blame for this.

They got too greedy and demanded too much money. They forced us to send their jobs to China.
 
The embargo was actually in 1973-74 and was placed against countries that had supported Israel during the 1973 Arab-Israeli war, which obviously included us. The 1979-80 crisis was initially the result of instability in Iran and Iraq being allowed to cut into production, but OPEC kind of took advantage of that situation to end up doubling the price of oil very quickly. Both of these events were what is called "exogenous shocks" -- shocks from outside the system. Neither Nixon nor Carter was responsible for them. Each had to deal with the consequences, however. Nixon and Ford couldn't avoid a rather long and deep recession. Carter was able to keep things to a brief and mild one.

Thanks for the information.
 
The unions are to blame for this.

They got too greedy and demanded too much money. They forced us to send their jobs to China.



Your proof?

See, cuz the IMF and the NAFTA agreements Bush signed and Clinton put into law went to get jobs out of here. No company went bankrupt because of paying union wages nor health care.
 
US median income lowest since 1995 - FT.com

mere confirmation of our own experience, what americans are living

what can we expect when so many more of our neighbors, friends and family members are filing for disability and food stamps than are actually gaining employment

what's new when four times as many of our associates and relations drop out of the work force than find a job

when 58% of the frighteningly few of our friends who do hook up end up pulling down between $10 and $12 per hour

CNN: Low-wage jobs explosion - Aug. 31, 2012

when real middle class incomes are down TWICE as fast AFTER the recession officially ended than they declined DURING the deepest, darkest days of depression

Household income fell 4.8% during economic recovery - latimes.com

food stamps at a record hi, poverty at a record hi

if the workforce were the same size today, even disallowing for natural population growth, as it was on jan 20, 2009, bls' unemployment # would be 11.2

we can never hit bottom til housing, which brung us here, finds its basement

Time: How ‘Shadow Inventory’ Is Killing the U.S. Housing Market

3 to 10 million homes haunt the shadow inventory

who's lying to you, time, cnn or ft?

maybe it's sigtarp you shouldn't believe

Bloomberg: Obama Loan-Modification Effort 'Failed Miserably'

People get the government they deserve. They voted this moron into office so they live with the results!
 
Your proof? See, cuz the IMF and the NAFTA agreements Bush signed and Clinton put into law went to get jobs out of here. No company went bankrupt because of paying union wages nor health care.
There's more to it than that. Globalization creates jobs here as well, as our export sector has expanded significantly. Technology plays a role as well. Manufacturing output here and around the world has soared over the past twenty years or so, but the number of manufacturing jobs has shrunk in every single one of the world's twelve largest manufacturing economies. China since 1995 has lost more manufacturing jobs than the US presently has. US job losses have been about average.
 
I really do feel bad for progressives when the morning of Nov 7 is here and they wake up to find that their savior Obama is done.
 
Since records have been kept, the medium income of the TOP 400 richest in the USA has NEVER decreased.

In fact the TOP 400 richest in the USA have seen their incomes increase post 2008 Global financial Crisis

Shhhhhhh - keep this secret between the fascist elite - they dont want you to know
 
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