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FY2019 Budget Infographics.

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Kushinator said:
The technical recession ended in June of 2009, 6 months after Obama had been sworn into office. But take out rGDP growth: by what other metrics do we see an economic trough in 2009? Economic recovery following a financial crisis will be stagnant due to the deleveraging process. The significance of the Great Recession is often underscored by partisan GOP'ers... and it's no different with you.
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I'll take NBER's word for it. Ivory Tower mumbo-jumbo is fine for the Faculty Club.
 
Bullseye said:
I'll take NBER's word for it. Ivory Tower mumbo-jumbo is fine for the Faculty Club.
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Bullseye said:
You just continue to bleacher on and on, Vern. The fact is NBER - considered the official arbiter of economic expansions and contractions - says the recession ended in June of 2009, which on my calendar is within weeks of when Obama took office. The rest of your blather isn't worth commenting on.
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Bullseye, you showed you didnt even understand the concept of fiscal years. You've posted documented falsehoods and in addition to ignoring actual data, you thought your silly questions constituted "data". And thats just in this thread. So while you have the date right from the NBER, you think it proves the Great Bush Recession was on its way to magically ending. Thanks to me you now know that President Obama did indeed inherit Bush's FY 2009 budget (that's short for fiscal year), the massive trillion dollar Bush Deficits and the Great Bush Recession. And now thanks to the chart of employment, you can se the stimulus actually kick in. And, this is key, republicans have just approved a stimulus 3 times the amount of President Obama's stimulus. You just dont get to dismiss President Obama's stimulus especially when republicans have just proven again they were lying about it.

Now this is going to be hard for someone with your knowledge level. The verbiage the NBER uses is trough and peak. The trough was June because economic activity started up in July because of Cash for Clunkers. CfC made it easy to determine the trough. Thats add 4 more to your " weeks" "data".
 
rahl said:
I’m sorry you feel that reality is a giant conspiracy against you. But facts don’t go away because you don’t like them.
https://financialservices.house.gov...11/timeline_for_fannie_freddie_regulation.pdf
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Facts are always, but they are not always relevant. Unpack this and fit the pieces together. 99percenter was not up to the task.

Funny you mention conspiracy. Do you mean like the one that blames the whole meltdown on fannie and freddy? That's a bit simplistic, don't you think?
 
Jay59 said:
Facts are always, but they are not always relevant. Unpack this and fit the pieces together. 99percenter was not up to the task.
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I just put it together for you. Republicans gutted financial regulations. They killed every single attempt to regulate fanny/Freddy from 2001-2007, directly causing the economic crash.

Funny you mention conspiracy. Do you mean like the one that blames the whole meltdown on fannie and freddy? That's a bit simplistic, don't you think?
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Your inability to comprehend doesn’t make the facts go away. Sorry.
 
rahl said:
I just put it together for you. Republicans gutted financial regulations. They killed every single attempt to regulate fanny/Freddy from 2001-2007, directly causing the economic crash.
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You didn't do jack.

Your inability to comprehend doesn’t make the facts go away. Sorry.
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I comprehend you have not even made an argument, much less a convincing one. State the facts, connect them to the event, show sufficiency, show lack of other significant factors, etc. All I want is the the basics, but you have not even finished step one.

What you have is nothing more than second rate talking points.
 
Jay59 said:
Facts are always, but they are not always relevant. Unpack this and fit the pieces together. 99percenter was not up to the task.

Funny you mention conspiracy. Do you mean like the one that blames the whole meltdown on fannie and freddy? That's a bit simplistic, don't you think?
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The housing crash happened because bush came up with the retarded idea of giving poor people loans they couldn't afford.
 
99percenter said:
The housing crash happened because bush came up with the retarded idea of giving poor people loans they couldn't afford.
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You already bowed out. Bring some facts and you can get back in.

BTW It was Jimmy Carter. Changes made during the 1990s accelerated the process.
 
Jay59 said:
You already bowed out. Bring some facts and you can get back in.

BTW It was Jimmy Carter. Changes made during the 1990s accelerated the process.
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never did. You surrendered. it was george w bush who crashed the housing market. It's pretty said you have to resort to blaming carter for something that happened 30 years after he left office. it would be like blaming reagan for the coronavirus.
 
Samwise said:
The government, being the government, is never mandated to spend anything it doesn't want to.
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Every Senator and Congressman is internally mandated to spend like drunken sailors.
 
Bullseye said:
Every Senator and Congressman is internally mandated to spend like drunken sailors.
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Lol, well yeah! It's not their money, right?
 
99percenter said:
never did. You surrendered. it was george w bush who crashed the housing market. It's pretty said you have to resort to blaming carter for something that happened 30 years after he left office. it would be like blaming reagan for the coronavirus.
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They would blame Reagan if Bush wasn't handy.

I did not blame anyone. It's a simple fact. The law is called the Community Reinvestment Act of 1977. It did not cause the subprime bubble, but it was a necessary piece of the groundwork. Note that, in true Democratic fashion, it was designed to provide affordable housing to low income families. You say that it gave poor people loans they couldn't afford. Same Thing, different spin.
 
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Jay59 said:
They would blame Reagan if Bush wasn't handy.

I did not blame anyone. It's a simple fact. The law is called the Community Reinvestment Act of 1977. It did not cause the subprime bubble, but it was a necessary piece of the groundwork. Note that, in true Democratic fashion, it was designed to provide affordable housing to low income families. You say that it gave poor people loans they couldn't afford. Same Thing, different spin.
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Poor people could not get loans pre bush. Bush thought it was a travesty and changed that.
 
99percenter said:
Poor people could not get loans pre bush. Bush thought it was a travesty and changed that.
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Dude, you're naked here.

Buy a fact. Try it once, if only for the novelty.
 
Jay59 said:
Dude, you're naked here.

Buy a fact. Try it once, if only for the novelty.
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I already stated them. you can counter if you want but since you can't you are stuck posting nonsensical crap.
 
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Jay59 said:
You didn't do jack.
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LOL, I directly refuted your claim with the official congressional voting record from 2001-2007.


I comprehend you have not even made an argument, much less a convincing one. State the facts, connect them to the event, show sufficiency, show lack of other significant factors, etc. All I want is the the basics, but you have not even finished step one.

What you have is nothing more than second rate talking points.
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I've already done so. You keep mistaking your inability to comprehend what is given to you, with not being given to you.
 
99percenter said:
The housing crash happened because bush came up with the retarded idea of giving poor people loans they couldn't afford.
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Jay59 said:
You already bowed out. Bring some facts and you can get back in.

BTW It was Jimmy Carter. Changes made during the 1990s accelerated the process.
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rahl said:
I’m sorry you feel that reality is a giant conspiracy against you. But facts don’t go away because you don’t like them.

https://financialservices.house.gov...11/timeline_for_fannie_freddie_regulation.pdf
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You guys are in luck, here's a thread to learn literally everything there is to know about the Bush Mortgage Bubble. Its pretty simple. Bush preempted all national banks and their subsidiaries (even ones with state charters) from state regulation. His regulators not only did nothing when "no doc" loans shot up from 4.3% of loans in 2004 to around 50% in 2006 they protected them from any state regulators who tried to do their jobs. he also lowered the net capital requirements of the investment banks. More money + no regulation = Bush Mortgage Bubble.

The timeline is good but Freddie and Fannie didnt cause it. The timeline is good for conservatives who want to blame the GSEs. If its the GSE's fault then its still Bush's fault.

Vern said:
I still see alot of misconceptions about the Bush Mortgage Bubble and the Bush policies that encouraged, funde and protected it so I thought I would start an FAQ section. Since the resulting destruction of the housing and financial sector are still a drag on the economy today, it seems relevent


Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’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.”

http://www.treasury.gov/resource-center/fin-mkts/Documents/q4progress update.pdf
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Bullseye said:
You just continue to bleacher on and on, Vern. The fact is NBER - considered the official arbiter of economic expansions and contractions - says the recession ended in June of 2009, which on my calendar is within weeks of when Obama took office. The rest of your blather isn't worth commenting on.
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Hey BE, where'd you go. If you were going to cut and run from your own thread, you should have done so after the first post. anyhoo, I see you're having a hard time accepting facts. Lets start over and go real slow. Can you at least acknowledge that Kush posted actual data in post 16 when he posted the chart of employment levels?
 
Vern said:
Hey BE, where'd you go. If you were going to cut and run from your own thread, you should have done so after the first post. anyhoo, I see you're having a hard time accepting facts. Lets start over and go real slow. Can you at least acknowledge that Kush posted actual data in post 16 when he posted the chart of employment levels?
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"Cut and run"? Hardly. Just ignoring vapid, self-impressed windbags.
 
rahl said:
LOL, I directly refuted your claim with the official congressional voting record from 2001-2007.
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You did not. Indeed, you presented no evidence of any kind.

I've already done so. You keep mistaking your inability to comprehend what is given to you, with not being given to you.
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There is incomprehension only on your part. You seem to think that stating something firmly constituted proof.

Hint: It doesn't.

Vern said:
You guys are in luck, here's a thread to learn literally everything there is to know about the Bush Mortgage Bubble. Its pretty simple. Bush preempted all national banks and their subsidiaries (even ones with state charters) from state regulation. His regulators not only did nothing when "no doc" loans shot up from 4.3% of loans in 2004 to around 50% in 2006 they protected them from any state regulators who tried to do their jobs. he also lowered the net capital requirements of the investment banks. More money + no regulation = Bush Mortgage Bubble.

The timeline is good but Freddie and Fannie didnt cause it. The timeline is good for conservatives who want to blame the GSEs. If its the GSE's fault then its still Bush's fault.
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This is what I requested. You are still overstating things, but you are a lot closer to a coherent point than 99 and rahl.

It's simple only in the sense that the process became over leveraged. For example, don't forget FHA. HUD was in as deep as F&F and it's not a GSE. Independent mortgage brokers have not even been mentioned. Why the degree of leverage was tolerated and what could have prevent it, is full semester course. Like most bubbles, it looked good until just before it ruptured.
 
Jay59 said:
This is what I requested. You are still overstating things, but you are a lot closer to a coherent point than 99 and rahl.

It's simple only in the sense that the process became over leveraged. For example, don't forget FHA. HUD was in as deep as F&F and it's not a GSE. Independent mortgage brokers have not even been mentioned. Why the degree of leverage was tolerated and what could have prevent it, is full semester course. Like most bubbles, it looked good until just before it ruptured.
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I agree, bubbles look good on the way up. thats why Bush encouraged, funded and protected his bubble. FHA, HUD and the GSEs did not cause the Bush Mortgage Bubble. And neither did the CRA. Bush's preemption of all state laws against predatory lending and his regulation is the main cause. While there is no specific definition of predatory lending, the thing in every definition is "loaning money without regard of the borrower's ability to pay it back". That was literally the only thing the OCC defined as predatory. And you can only loan money to someone without regard to their ability to pay it back with a "no doc" loan. "no docs" went from 4.3% of loans in 2004 to about 50% in 2006. And thats the exact timeframe of the Bush Mortgage Bubble from Bush's Working Group and the Fed.

this quote really drives home the out of control lending that Bush encouraged and protected. Ownit was one the first lenders to go bankrupt and the CEO says he got paid more to not check income.

Ownit made second lien mortgages, issued 45-year ARMs and originated no-income-verification loans. In the words of William D. Dallas its founder and CEO: “The market is paying me to do a no-income-verification loan more than it is paying me to do the full documentation loans.”

Subprime Mortgages: The Predators' Fall
 
Bullseye said:
"Cut and run"? Hardly. Just ignoring vapid, self-impressed windbags.
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you know BE, not responding to my post and simply posting insults is actually a form of cutting and running. See if you can find the inner strength to admit that Kush posted actual data in post 16 when he posted the chart of employment levels. I'll go as slow as you need me to but you have to put some effort into it.
 
Jay59 said:
You did not. Indeed, you presented no evidence of any kind.
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now you are just fibbing.


There is incomprehension only on your part. You seem to think that stating something firmly constituted proof.
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no, I provided the proof. you don't like it or don't understand it. That does not make the facts go away.
 
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