Posted on 07/24/2015 6:18:42 AM PDT by E. Pluribus Unum
“Actually what killed the housing market was a bazillion home equity loans. Sure, there were some homes bought by people who shouldn’t have (particularly in California), but for every one of those there had to be hundreds of variable rate refis”
There’s a good deal of truth in what you say.
UCLA had an economist at their Anderson forecasting center, Chris Thornberg, who was warning of an impending crash as early as 2006.
One of his reasons is that the entire growth in the California economy after 2001 was equal to the amount of home equity withdrawal. It was a huge red flag.
The booming consumer spending was being fueled by new housing debt. If and when housing prices just leveled off, not to mention going down, the whole game would come a screeching halt.
This data was out there for anyone who wanted to look at it. Too many people had a vested interest in the bubble to pay any attention.
That's where I am as well. He's dragging the illegal alien invasion issue into the harsh light of long-needed scrutiny and he deserves credit for it.
But that doesn't come remotely close to making him a wise choice for the Presidency.
But Bush-42 had republican congress, and I did not make any money in stock market. Another era which gave me a start in the markets was during LBJ. Even during Carter I made money on high interest treasury bonds. They paid me 12% interest!
Typo correction...Bush-43, not Bush-42.
For me, Cruz is far out in front...he’s my guy.
Jindal, second, although I don’t think he has a remote chance of going anywhere.
I don’t want to vote for Walker, really, but I would if he’s the only choice.
Rubio will put an end to the country with his amnesty dreams, so he’s a no-go for me, and Trump...I wouldn’t consider him.
Exactly
Rubio = Jeb Bush in a slicker package.
Walker has some potential, but he's talked out of both sides of his mouth on many issues, including immigration.
” but the structure for the bubble and crash was rooted in laws passed by Democrats.”
Gramm-Leach-Bliley, 1999?
Signed by Clinton but sponsored by Republicans Gramm and Leach.
Commodity Futures Modernization Act 2000?
Signed by Clinton but sponsored by Republicans Gramm and Ewing. Gramm insisted that the bill exempt derivatives and credit default swaps from oversight and regulation.
The legislation that greased the skids for the bubble was bipartisan.
I made great amounts of money in stocks and real estate during the Bush 43 administration. Just depends on the timing!
No one will believe it, because it’s three times what you’ve ever exhibited on this forum.
+1
Dubya also chose to make Fannie and Freddie the responsibility of the American taxpayer.
They were both listed corporations on the stock exchange despite their government origins, and there was no legal requirement for taxpayers to backstop their investors.
They could have been allowed to enter bankruptcy. Instead their investors were spared personal loss by sticking taxpayers with the bill.
Good points.
Some version of TARP was probably needed to prevent wholesale collapse of the banks that had gorged themselves on mis-rated mortgage paper. Fully one third of American banks collapsed 1930-33, it was a large reason for the severity of the Great Depression. No one wanted to risk a replay.
But the way that TARP was run, with very little oversight, turned it into an opportunity for some very bad actors to steal from taxpayers.
If that were the criterion, you would be in negative territory.
You have no tolerance for a difference in opinion. Anyone who doesn't agree with you is subject to a personal attack. I have been on this forum since 2002. You are one of the most disagreeable people I have run across. You are incapable of civil discourse.
I don’t know, the GOPe has been so self serving and things have gone to hell with them to, so maybe he gets that perception for a reason.
not true....often accused of being arrogant, etc - never denied but...but no serious accusations about that. Seems that one of us will tell the truth about strengths and weaknesses, and the other one struggles with facing reality....
The flip on TPA did nothing to improve the damage done by his initial vote in favor of TPA.
His polling numbers dropped after the first vote and haven’t improved since.
His vote in favor of the Corker Amendment was disgraceful. It was an abrogation of his oath. Just because 98 other Senators voted with him does not excuse him. He voted to surrender the Senate’s Treaty Authority to Obama.
On top of that, he still favors increasing H1B visas by 500%.
Other than that, he’s perfect.
I voted for Dubya twice. Actually got to shake his hand when he visited Portland, Oregon during the first term.
But now I realize, he was not very smart. The Goldman Sachs crowd pulled wool over his eyes and Dubya OK’ed the TARP bailout.
Trump has achieved more success in PRIVATE business enterprise than the combined success of mine and your ancestors going back 100 generations. No one accumulates $10,000,000,000.00 by being stupid. Next 100 generations of Trumps stand to inherit $100 Million EACH!
No businessman succeeds by ignoring excessive spending, ignoring budgets, and not recognizing what will succeed and what will not. Trump currently has 500 different active business interests, according to official financial disclosure filed to run for president. He must have heckuva sharp mind to juggle so many balls in the air.
The absolute best thing about Trump is he can not be bought. Cruz, Walker, etc are all good men, but they need their rich daddy’s to stay in the campaign. And those rich daddy’s desire the cheap labor express. Why do you think Walker flipped on Amnesty? This article explains it all.
http://www.nationalreview.com/article/413766/walkers-about-face-amnesty-andrew-johnson
Oh I did OK during Bush-43, but not like Clinton, when my stocks quadrupled, and I was very lucky to exit before the Nasdaq crash.
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