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I think what he's saying is Refinances have been the mortgage market for the last 8 years.
To the OP:
Is it really Obama's fault that the economy has been so bad? Or was it the collapse of a massive housing bubble combined with excessive risk-taking in the financial sector?
And to be fair: does Bill Clinton really get credit for the great economy in the 90's? Or was it the PC/internet revolution?
When it comes to the economy, Ben Bernanke probably has much more power than Obama.
Bush Sr. didn't cronitize the rebuilding efforts in the myriad of disasters during his presidency. That was why the economy was starting on the right path when Clinton came in office.
There was Andrew, Flooded mid western states and several other Hurricanes in the coast of Carolina.
It was an awesome time to be a self employed contractor in the building industry. I was 18-21 and it was the most money I ever made installing carpet. In fact every construction worker I knew at the time, had ample money to pay their bills, have a new(ish) work truck and a new car for their wife. Many construction workers I knew were also buying houses. The only reason I didn't was because credit rules were strict back then, and I didn't have any credit history.
Clinton didn't do anything to fuck the budding economy nor did he do anything to jeopardize the budding tech industry.
Bush Jr. Came to office and his cronies and patsies changed everything. Starting with prohibitive legislation that placed a bigger burden on the sub contractor workers to remain independently employed. Now if you want to do that you have 3 different insurances you have to carry, license, and a LLC type of corporation set up.
It was to drive people out of independence and to work for half the going rate using big carpet shops insurance and license, basically it turned most capable contractors into meager employees.
It's been one big ole Buttfuck every since then with no end in sight.
Especially when Mr. Hope and Change entered the scene.
There must be a race angle to this. if not, can't we at least work in some sort of narrative of national or social decline, wherein we confuse the aging and deterioration of our own bodies with the decline of society in general?
Facts don't mean anything to cheerleaders who rustle their pom poms little harder and blow their bullhorn a little louder in order to drown out the noise. Bush and Clinton had their share of cheerleaders, but I don't think we have ever seen a president to date with this many blind supporters walking around(many of whom are quite intelligent but have no common sense, are isolated from reality in their situation or are motivated by a single agenda) in blissful ignorance with a finger in each ear, singing, "nah nah na na nahhhh I can't hear you"
JH,
Of course you are right. But the ones who come here without money don't matter, because there are enough of the ones who come here WITH money.
And, because of the cultural imperatives they bring with them including peer pressure, many of the ones coming here without money will hustle to do whatever it takes to borrow so they can live beside the one who DO come here with money. Sometimes that doesn't work out so well, like in the SiPort matter.
Does the Walmart near you guys have fresh produce and other perishable foods on sale?
Perishable, yes. Fresh, no.
APOCALYPSEFUCK is Shostakovich says
One man said he was told that he should get his watch battery changed at a pawnshop since no one there knew how to do it.
Changing a watch battery? How quaint!
Do it yourself for less than one tenth the cost. Batteries are cheap, but you'll pay $10+ to have it done at a kiosk in a mall.
I think what he's saying is Refinances have been the mortgage market for the last 8 years.
Refinances are 63% of applications, so what was the other 37% for??
Smoke and mirror lies.
Right, he's only had 5+ years to work his magic and lead the country... I guess he needs a few more..
Guess you didn't read my entire response. Sure- Obama has had 5 years but from day one the GOP has basically shut down any effort to work with him and so why are you confused as to why there's so much that doesn't get done? Of course this is also partially due to outside lobbys and industrial interests using the GOP to get what they want in the form of fake grass roots organizations like the Tea Party and so on. So not only do you have an uncooperative GOP, but a GOP overrun by politicians more or less stuck into power via clever astroturfing techniques.
Do you ever wake up in the morning and wonder if perhaps you're cheerleading for the wrong party because they certainly aren't there to look out for your best interests. They're there to serve as puppets for their corporate masters.
Yes, and the depression was FDRs fault.
I wonder, if a new government was put in place in hiroshima after it was bombed, were there people that tried to blame that new government for the bombing ?
Call it crazy:
Talk to us when you understand what a liquidity trap is.
Let us know, when was the last time that lowering interest rates to zero and doing massive QE was barely stimulative enough to get the unemployment rate below 10, and without hardly a hint of inflation.
You might hate Obama. I'm pretty sure you did before he was elected.
You and many retards out there want to compare Obama to presidents that were in office at a time when lowering the fed funds rate to 5% would have caused the economy to overheat big time.
In other words you're a world class idiot that doesn't even know how things work. You should get along well with Captainknownothing.
I don't think we have ever seen a president to date with this many blind supporters walking around(many of whom are quite intelligent but have no common sense, are isolated from reality in their situation or are motivated by a single agenda) in blissful ignorance with a finger in each ear, singing, "nah nah na na nahhhh I can't hear you"
I'll think this one over during lunch, which is just down the Ronald Reagan highway, past the exit for the Ronald Reagan Rest Area and Interpretive Center near Reagan Hospital
Sure, multiple investments can lead to wealth, but not one. What I described however, would make me retire technically a millionaire, so that's cool. But then I'll give it to my kids...which is also cool. But not wealth, per say.
I would argue that you forgot something: maintenance and/or property mgmt at 1% a year (VERY conservative, especially if this goes beyond 10 years). Let's subtract that $10,000. Now we have $30k to $87k in 10 years. If instead, I invested that $30k with a 5% rate of return (and rolled in the $100/mo of maint/mgmt costs), I would net $65k. It would take an 8.3% return (compounded monthly) to hit $87k with that investment. That's not likely in the long run, but neither is home appreciation that is well above the rate of inflation. IMO, it's only worth the investment if you can do maintenance and mgmt yourself cheaply. Otherwise, fuck it...just throw the 30k in an investment and enjoy reading your quarterly statements without getting calls about clogged toilets.
However, I completely agree with you regarding the positive cash flow. A savvy investor will not start out with negative or neutral...although it works as you pointed out...it's just slower.
haha holy hell. winning bid 132k.
where did you get the screen shots? is that public?
i like the open loan at 172k.
the revert to mean will really suck for many people.
And awesome for others :-)
Obama campaigned for the job of president. He WANTED the position!!! Unfortunately, when you get that job it means you have to bring both parties together to work towards the common goal.
The Republicans were more than willing to reach out.
I remember when Obama proposed a health care bill taken directly from the research of the Heritage Foundation, a right-wing think tank - indeed, a health care bill identical to Mitt Romney's plan enacted in Massachusetts, and well to the right of that proposed by Nixon in the early 1970s - the Republican caucus, one and all, supported him enthusiastically. Right-wing AM hate radio, Fox, and the entire Republican establishment have continued to support Obamacare since, never scaring their adherents with any "Boo - socialism!" stories or any distortions.
Seriously: If Obama proposed abolishing all federal gun-control restrictions, the Republican House caucus would oppose it by 233-0.
compelling and invaluable
Once this QE is terminated , these charts will make more sense to the senseless!!!
Taper is announced, and begins, September with the first reduction in monthly purchases of $15 billion ($10Bn cut in TSY purchases, $5BN cut in MBS), eventually tapering to nothing in June 2014 when the Dealers believe QE formally ends... Big banks came to some agreement on taper in their meeting with the fed. Looks like Ben is herding his banks to the bomb shelters while "US" commoners stay outside!
These things aren't actually Obama's fault, except in the sense that he has failed to fully reverse the situation. It all happened under Bush, during the Wall Street economic coup that took place in 2008, and caused the Great Recession. This is as plain as the nose on your face. People don't want to admit that the US became a Plutocracy almost overnight, and remains that way today. It might shock right-wingers to learn that the transition to more part-time employment all took place at the end of Bush's second term, and was not a gradual process under Obama:
The US economy was plundered in 2008, and the middle class was subsequently decimated.
I think the biggest mistake the federal government has made is bailing out bad debt, both corporate and individual. The economy is now entirely smoke and mirrors. But I can't imagine that things would have been any different in a McCain or Romney administration. If anything, the Republicans are MORE beholden to their Wall Street overlords.
The tragedy that has befallen this nation is that, even with all that, Obama beats the alternative. And that is seriously bad news.
So, does the Dem controlled Congress that took over in 2006 hold any affect or blame on your quotes???
Oh, I see. So if something happens on Obama's watch, it's Obama's fault, but if it happened on Bush's watch, it's Congress' fault.
Nice...
when Obama proposed a health care bill taken directly from the research of the Heritage Foundation, a right-wing think tank - indeed, a health care bill identical to Mitt Romney's plan enacted in Massachusetts, and well to the right of that proposed by Nixon in the early 1970s - the Republican caucus, one and all, supported him enthusiastically.
Your memory is off slightly. It was the Democrats who lined up in support of that plan. Even stranger, they present its Republican pedigree as an endorsement, and simultaneously a sign that the Republican side is unreasonable. Nancy Pelosi said, "Don't trust the insurance companies," then voted to make everyone pay all they could afford to those very same companies and trust them with their lives. Supporters of that plan have convinced themselves that they're much smarter than the majority, who oppose it, and I think it must take some special kind of intelligence to believe in it, because I can't understand how that makes any sense.
But here's the thing: no matter how badly things might go with Democrats, the Republicans campaign on being even worse, as in an Alice-in-Wonderland reverse auction. It is an auction, in a way, where the lobbyists (what FDR used to call "special interests") are bidding against the public interest, and power goes to the highest bidder.
The tragedy that has befallen this nation is that, even with all that, Obama beats the alternative. And that is seriously bad news.
Exactly. The country's in terrible shape, and the guy running against Obama just outright insults 47% of the population. I mean, how fucking stupid do you have to be?
And the same rhetoric goes on year after year..............Dems fault, no Reps fault. All of these overpaid, talk a lot, do nothing politicians are to blame. The arguments are so tired and stale at this point. These people have no shame that we are actually paying their salaries.
APOCALYPSEFUCK is Shostakovich says
A tax cut will fix everything.
I don't think that goes far enough. We also need to increase corporate tax shelters, and give government backed incentives for higher executive pay.
Eventually it will trickle down.
The tragedy that has befallen this nation is that, even with all that, Obama beats the alternative. And that is seriously bad news.
Exactly. The country's in terrible shape, and the guy running against Obama just outright insults 47% of the population. I mean, how fucking stupid do you have to be?
Yep, the Republicans could have won that election easily if they had a clue.
And Obama outright insults the other 47%.... so isn't it standoff then???
Uhh... no.
It's a civil war in Syria, it isn't our war. If US gets involved, it won't be over the murders, it'll be over some tangible financial benefits.
You know how it goes, if pension funds don't earn their 6%+ we go to war.
No one has yet proven if nerve gas was used. And no one has proved by whom, if it indeed has been used.
The last time a similar story like this ran, the UN said it was the rebels who used the gas.
Maybe we should keep the US corporate profit enforcement division (US military) out of this and mind our own business?
Let the UN handle it; that's what it's for.
It may be time to rev up the false flag anthrax attacks in the USA again.
Exactly. The country's in terrible shape, and the guy running against Obama just outright insults 47% of the population. I mean, how fucking stupid do you have to be?
And Obama outright insults the other 47%.... so isn't it standoff then???
So the swing voters are only the 6% who are not "insulted?"
the opposition is just as bad, if not worse than the government.
There were two strands to the opposition, at least in the early days. The secular opposition included professional military officers and they wanted to ally with the U.S. against the government which is backed by Russia; there were some calls to arm them, and the issue was considered, but it's probably much too late for that now. Instead, the country became a magnet for al Qaeda, and much of the opposition consists now of Islamist fanatics who would kill Americans too if they got the chance. It might minimize harm to arrange asylum somewhere for the secular opposition, and let the government deal with the religious fanatics. Attacking the government with drones and missiles, and arming the religious fanatics, would be more likely to increase risk than to reduce it.
All of these overpaid, talk a lot, do nothing politicians are to blame
Politician's aren't the problem, We The People are the problem.
Nobody here understands anything about anything.
It's bullshit all the way down in this country.
then voting to make everyone pay all they could afford to those very same companies
PPACA limits insurance burdens to 2-10% of income for middle-class:
[Now, if they just raise taxes to give us the subsidy, it's not a real cost savings.]
Plus of course the House Dem bill had the public option, allowing consumers to buy insurance directly from the gov't, like we now do with student loans.
that they're much smarter than the majority, who oppose it,
"36 percent of Americans want Congress to expand or keep the health care law while 39 percent want Congress to repeal it "
More than half that 39% can't find their ass with a map.
http://livewire.talkingpointsmemo.com/entry/poll-louisiana-gopers-unsure-if-katrina-response-was
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