America Only Loc: From the right hand of God

Idiot stick..MASS LOANS made to millions of broke dick poor people due to Carter and Clinton signing bills to extend loans to those that never could qualify for those loans started the down fall of wall street. You are one ignorant puke to think it all just came about in one year.....that snow ball had been rolling for more than 30 years.....and you are too stupid to even comprehend what took place step by step.

Docadhoc Loc: Elsewhere

Uh Nick, consumer spending was brought to a screaming halt by Obama and his idiot regulations and ACA costs.

His administration caused the worst GDP growth in our history. THAT is your consumer spending brought to a dead stop. All 8 Obama years. Now he's gone and the economy is picking up again.

He caused it. Period. You love to blame. Blame Mr. hope and change because he sure did change a lot, for the worse. Blame him. Stop blaming Bush. Obama had 8 years. If in 8 years he couldn't over come what you blame Bush for, then Obama was useless.

You want to talk jobs? First you tell me about NAFTA, then tell me about those shovel ready jobs.

Big Bass

YES!!

Nickolai

Double broke dick ! That is right wing propaganda put out by such organizations as the American enterprise Institute. The evidence points in totally different direction than they wanted people to believe "DONT LOOK AT US LOOK AT THEM " The competition for mortgage loans for mortgage backed securities was feverish and the companies originating these loans lay outside the regulatory environment mortgage and investment banks At Lehman Bros, Bear Stearns. Merrill Lynch, and Government Sachs were clamoring for these loans to use in their CDO's A billion, billion and a half Dollar package of loans from an originator such as Country Wide or Indy Mac would get snapped up in a day. No body cared if the borrowers could pay back the loan. The risk was passed from the mortgage originator to the bank to the investors they were sold to all over the world. Investors bought CDS's from AIG insurance in case the CDO failed but when the house of cards collapse AIG did not have the cash reserves to pay CCDS's were not regulated like regular insurance products that require sufficient cash reserves. The Community Reinvestment Act that the right would like you to believe caused the chaos fell with in the regulatory environment and contributed very little to the mess. The mess was caused by unmitigated greed on the part of a lot of people including workers picking beans that believed they could by a $500.000 house with an ARM that had a tiny payment for three years and went to the moon there after. A fed Chairman that held rates too low for too long and believed markets could regulate them selves Home Builders who were profiting off the bubble Bond rating agencies scrambling for business by rating Junk as AAA to please the originators of the CDO's that ultimately stiffed the investors, Public employee Retirement funds, Municipal reserve funds, pension funds. on and on. Try not to trip on your dick you might break it again

You might want to skip the propaganda and stick to the facts

bggamers Loc: georgia

Linda you live in Atlanta?

bggamers Loc: georgia

Loki not everyone is a genius like you please don't criticize due to spelling. I also spell as I speak when I came on opp a teacher on here did what your doing I was totally humiliated and realized my bad habit. I have noted since being in the south going on 30yrs many do it and I had picked up the habit.Be a little nicer and please dont be offended by this

Nickolai

You have a really bad memory. The great recession began in December 2007 and ended in June 2009 Obama didn't take office until January 2009. Consumer spending began collapsing in 2007. The bust had its roots in Reagans trickle down economics as ordinary people began borrowing home equity loans credit card debt to maintain their standard of living. Household debt as a percent of income in 1928 just before the crash reached 128 % by 2007 it had reached 138 percent, During the bubble consumers were pulling over $900 billion from the inflated value or their homes paying down high interest credit card debt buying a new car going on vacation on a cruise ship eating out living high on credit. When all the Adjustable rate loans began kicking in and the Fed began ratcheting up the Fed Funds rate the house of cards began collapsing in 2007 a year and a half before Obama was elected. Retailers began going bankrupt store fronts were blanked out. By fourth quarter growth reached a negative depression level of 8.9 %. The New New Deal helped stop the free fall. But the $750 billion bill meant to help replace the $900 billion loss in consumer spending was paltry. double that and the return of growth would have been stronger but it wouldn't have survived a Republican filibuster so Obama got all he could and it was very helpful. The recovery act directly employed 700.000 Americans in construction jobs and job loss stopped in Dec 2009 and grew for 75 months to close out Obamas term at 4.7 % from a high in 2009 of 10 % My home value that bottomed at $315,000 in Dec 2009 is now valued at $585,000 and over 12 million jobs have been created





2007

Nickolai

https://tse1.mm.bing.net/th?id=OIP.hPo8TFOEU2Il2n07nbOlKAEsDb&w=150&h=105&c=8&rs=1&qlt=90&dpr=1.000003&pid=3.1&rm=2

Read it and weep

Docadhoc Loc: Elsewhere

You have a bad memory and not much interest in fact.

Back up 20 or so years and look at the annual GDP. When you get to Obama, pay attention.

Nickolai

Well yes Working people have been devastated with Trickle down economics combined with union busting that had produced the biggest middle class in history . Look up a chart the line showing the decline in union membership it has the same trajectory for the decline working class. #0 years ago working class was saving 10 % of income by 2000 it was zero by 2007 household was 138 % of income workers are loaded with debt and most working for min wage. When the masses have no money it plays hell with demand. The S&L crises was a harbinger. the dot com bust was a bell wringer and 2007 was the end result of 27 years of tickle down economics.

Docadhoc Loc: Elsewhere

If in 8 years Obama couldn't.correct what you want to blame on others, he was useless. In fact, not only did he not correct anything, he made it worse. Look at the GDP as I mentioned prior.

If 8 years isn't enough time, he shouldn't have been in the WH at all. The fact is when he left office we were in worse shape than before he entered.

Stop blaming anyone but him.

And while you are at it, you can knock off your CC garbage until you can clean your own environment up.

lindajoy Loc: right here with you....

No, I live in Colorado..Visiting for Easter, here..

Nickolai

No He couldn't correct 30 years of neoliberal economic drift to the right the rot is baked into the cake and If Trump is able to make good on his promises to create 4 % growth create 15 million new jobs make the biggest tax cuts in history spend billions more on the military a trillion on infrastructure bring back all the jobs lost to globalization. If he does all that I'll be the first to kiss your ass. If you think we are worse off now that we were in forth quarter 2008 you are crazy as a loon. The nation and half the world was staring into an abyss at the possibility of a depression that could make the crash of 29 look like a walk in the park. Banks going belly up left nd right 750,000 jobs per month going down the tubes millions of homes being foreclosed savings wiped out pension lost $11 trillion of wealth wiped out. And that is just in the US Some parts of Europe have yet to recover. The present recovery is the second longest in US history it it makes it to December it will equal the longest in our history. Odds are it won't make it retail sales are already falling and the Stock Market is a bubble just waiting to pop Trump will preside over a big recession maybe the bid one and 2997-8 might have been a prelude

Loki Loc: Georgia

I am certainly not offended, nor did I mean to offend you. You will notice the only people whose spelling I correct are the ones who prate and posture about their so-called "educations." If they were as smart as they say, they would automatically correct such egregious spelling and grammar errors, rather than have to depend on someone like myself; (whom they consider a dumb-as-dirt redneck) to do this for them.
I don't flaunt my educational credentials, (such as they are), because I have seen too many self-proclaimed Mensa members who have been educated far beyond their meager intelligence.

Big Bass

You should have said "Read it and laugh at the stupidity."