Will weakening of the CFPB bring about another recession/depression.

The GOPer's in congress and in the Whitehouse are all about either totally weakening or doing away with the CFPB, Consumer Financial Protection Bureau. They say that the protections afforded within this law are holding back our financial companies. First, these same industries are making money hand over fist, so I wonder how they are holding them back. they are protecting us from another financial meltdown as we had almost ten years ago, you know the one that sent the whole world into a recession/depression. So will the weakening or elimination of this law eventually bring about another meltdown? And will such a meltdown make the wealthy financial people even wealthier like the one ten years ago?

independentusa said:

The GOPer's in congress and in the Whitehouse are all about either totally weakening or doing away with the CFPB, Consumer Financial Protection Bureau.

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That sounds like an excellent idea. Good.

Once Republicans have reeled people in with social issues, they are free to rob them blind.

I think it's the tax cuts that will bring another recession by creating a bubble. The government always makes the same mistake.

We have a very large economy that's pretty much maxed out. Remember when people thought Japan was going to grow forever? Well, it maxed out. That's a reality for large economies.

But when government starts trying to force growth rates that are unrealistic like those of the past, they create bubbles. Bubbles are fake growth. They blow up once people realize the growth was fake.

These corporate tax cuts are really a stimulus. We're pumping money into the economy. But we're pumping money into corporations which have been doing great for the past 6 years. This will create a bubble. The stock market will go higher and higher until it explodes. Then the finger pointing will begin. Maybe they'll blame Obama and Hillary.

cpwill said:

That sounds like an excellent idea. Good.

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You state no reason, are you one of those financial people who will win no matter what happens to our financial markets? to me that could be the only reason someone who think this as good idea when what happened ten years ago. It will be winter and a cold one if this causes what we had ten year ago.

Well this is no surprise. This is exactly what happens when you put a con artist and millionaires in charge of taxes and financial regulations.

independentusa said:

You state no reason, are you one of those financial people who will win no matter what happens to our financial markets?

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Yup. I have a magical ability called "putting money aside every month" which I achieve through the dark ritual of "budgeting", powered by the ancient sorcery of "living on less than you make".