Obama Will Be Inheriting A GREAT Economy, From Lil' Dumbya!!

[Phoenix68]

It's always so much fun, tripping-over these old ones!!!!!​

 

[Phoenix68]

I'm not a Bush fan, but next time somebody puts all the blame for this mess on him they should go back and look at this video from 4 years ago

Yes! 4 years ago. John McCain and the republicans tried to regulate all the financing companies and were told that everything is fine by democrats....

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March 25, 2009

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[Phoenix68]

It's always so much fun, tripping-over these old ones!!!!!​

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[Boris Norris]

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View attachment 6839
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That idiot wasn't paying attention during GWB time.

 

[Phoenix68]

I'm not a Bush fan, but next time somebody puts all the blame for this mess on him they should go back and look at this video from 4 years ago

Yes! 4 years ago. John McCain and the republicans tried to regulate all the financing companies and were told that everything is fine by democrats....

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Yeah....we wouldn't want to go clear back to the beginning.....
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Bush's tax cuts `sounded too good to be true' for Democrats
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Economists Say Recession Began In March - Nov. 26, 2001
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Bush Era Tax Cuts Didn't Fix Economy
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[Phoenix68]

I've never understood why each side in the corruption debate assumes that only the politicians "on the other side" are bad.

They're all bad... get over it.

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Where Would We Be, Without Democratic Economies?????
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[mark francis]

Yeah.....better get ready for THAT one......again.



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Experts have laid the primary blame for the 2008 bank collapse on the banking deregulations in the Commodities Futures Modernization Act of 2000.

 

[mark francis]

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Where Would We Be, Without Democratic Economies?????
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The wild partying crowd loves the great rides they can take on credit. Democrats provide great rides that someone in the future will have to pay for, but their happiness is not even slightly tempered by the fact that their free rides will cause deep suffering later for taxpayers who will finally have to clean up the trash left behind by these drunken riotous riders.

 

[LittleGreenMan]

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View attachment 10580
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Yeah....we wouldn't want to go clear back to the beginning.....
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Bush's tax cuts `sounded too good to be true' for Democrats
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Economists Say Recession Began In March - Nov. 26, 2001
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Bush Era Tax Cuts Didn't Fix Economy
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There's a great deal of stupidity here. 2008 was a crisis of mortgages cascading into default when the housing market slowed and over-extended speculators unqualified to obtain the loans under normal bank rules couldn't sell the houses. These mortgages were mandated by Congress under the guise helping people unqualified for loans to be insured by FHA, plus zero down terms. People who didn't understand the nature of market risk were allowed to obtain mortgages with very little front money and walk away from them when the market went bad, leaving the FHA, -and ultimately the taxpayers, holding the bag. All of this had nothing to do with the tax situation. Only someone unfamiliar with the Laffer Curve thinks that lower taxes reduce revenue to the govt. That is the definition of ignorance. In reality, the opposite happens.

It gets worse. The Second Coming of the mortgage crisis is just over the horizon. There has been a whole flock of changes in the marketplace in the past 3 years, all related to how Joe has handled (manhandled) the economy. To wit: office space and big city apartments were built in anticipation of the economy continuing prosperity as it was 2016 to 2020; 20% of which are vacant now due to people working from home & exiting the big cities for more civil & lowered taxed, policed small towns; Big companies are following the masses leaving town, not renewing leases on large office spaces, thinking about future reductions in work forces with the advent of AI, and so only needing smaller office spaces elsewhere, -like small low-tax crime-free well-policed towns, all of which combines to reduce demand for office & apartment space in big cities at exactly the same time these commercial buildings need to be refinanced. They were financed at artificially low rates held down by the Fed much too long post 2008 crisis and $2.2 trillion in commercial debt will come due to be refinanced in the next two years at today’s more normal rates (estimates of losses of $700 billion in valuation as a result will also take many real estate investment funds to zero). Would you like to be President when all this descends upon the banking system and other bond holders of this mortgage debt?

This is just the first shoe to fall in the downfall of today’s big cities. As these big buildings go into receivership the taxable values will drop like rocks taking city’s revenue stream with them. Cities that overtaxed and under-delivered services will find their allowances cut deeply into bone, -like Detroit. And they will suffer the same Detroit cycle of self-perpetuating cascade of tax base, revenue, services, residents, tax base, revenue, services, residents, repeat ad infinitum. This refinancing crash begins slowly in ’24 and will be front & center in the 4th quarter, -fresh as a daisy and large as life for voters in November. The press will blame Trump.

Can anyone other than Trump wrestle this bum steer to the ground? Presidential candidates, -please take one step forward! Guys… anyone…?

 

[mark francis]

There's a great deal of stupidity here. 2008 was a crisis of mortgages cascading into default when the housing market slowed and over-extended speculators unqualified to obtain the loans under normal bank rules couldn't sell the houses. These mortgages were mandated by Congress under the guise helping people unqualified for loans to be insured by FHA, plus zero down terms. People who didn't understand the nature of market risk were allowed to obtain mortgages with very little front money and walk away from them when the market went bad, leaving the FHA, -and ultimately the taxpayers, holding the bag. All of this had nothing to do with the tax situation. Only someone unfamiliar with the Laffer Curve thinks that lower taxes reduce revenue to the govt. That is the definition of ignorance. In reality, the opposite happens.

It gets worse. The Second Coming of the mortgage crisis is just over the horizon. There has been a whole flock of changes in the marketplace in the past 3 years, all related to how Joe has handled (manhandled) the economy. To wit: office space and big city apartments were built in anticipation of the economy continuing prosperity as it was 2016 to 2020; 20% of which are vacant now due to people working from home & exiting the big cities for more civil & lowered taxed, policed small towns; Big companies are following the masses leaving town, not renewing leases on large office spaces, thinking about future reductions in work forces with the advent of AI, and so only needing smaller office spaces elsewhere, -like small low-tax crime-free well-policed towns, all of which combines to reduce demand for office & apartment space in big cities at exactly the same time these commercial buildings need to be refinanced. They were financed at artificially low rates held down by the Fed much too long post 2008 crisis and $2.2 trillion in commercial debt will come due to be refinanced in the next two years at today’s more normal rates (estimates of losses of $700 billion in valuation as a result will also take many real estate investment funds to zero). Would you like to be President when all this descends upon the banking system and other bond holders of this mortgage debt?

This is just the first shoe to fall in the downfall of today’s big cities. As these big buildings go into receivership the taxable values will drop like rocks taking city’s revenue stream with them. Cities that overtaxed and under-delivered services will find their allowances cut deeply into bone, -like Detroit. And they will suffer the same Detroit cycle of self-perpetuating cascade of tax base, revenue, services, residents, tax base, revenue, services, residents, repeat ad infinitum. This refinancing crash begins slowly in ’24 and will be front & center in the 4th quarter, -fresh as a daisy and large as life for voters in November. The press will blame Trump.

Can anyone other than Trump wrestle this bum steer to the ground? Presidential candidates, -please take one step forward! Guys… anyone…?

 

[Phoenix68]

Experts have laid the primary blame for the 2008 bank collapse on the banking deregulations in the Commodities Futures Modernization Act of 2000.

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....i.e. crooked / thieving-Texans, as usual.
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January 3, 2010

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See: 4:45 thru 12:00
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[Phoenix68]

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April 24, 2012
Money, Power And Wall Street | FRONTLINE
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[Phoenix68]

There's a great deal of stupidity here. 2008 was a crisis of mortgages cascading into default when the housing market slowed and over-extended speculators unqualified to obtain the loans under normal bank rules couldn't sell the houses.

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Yeah....that would have been the abridged-version....for people with a limited-vocabulary.
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[Phoenix68]

The wild partying crowd loves the great rides they can take on credit. Democrats provide great rides that someone in the future will have to pay for, but their happiness is not even slightly tempered by the fact that their free rides will cause deep suffering later for taxpayers who will finally have to clean up the trash left behind by these drunken riotous riders.

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Sorry...I still don't believe in "conservative"-psychics.
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They're TOO wrong...TOO OFTEN!!
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[Phoenix68]

Additionally, it was the bill passed in 1995 by Clinton's Congress which is totally culpable for this financial meltdown!!

How can people be so stupid as to not want to understand what really caused this mess so we can maybe prevent it from happening again?

Blame Bush all you like. You have learned anything and you don't understand what laws CAUSED THIS MESS!

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"Not only was the entire national deficit eliminated after raising taxes on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down.".

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Bush Era Tax Cuts Didn't Fix Economy
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Tax Cuts Don't Boost Revenues
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