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United States Heading towards a Depression?

Discussion in 'Politics & Religion' started by decoyjames, Dec 27, 2007.

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  1. Bushranger

    Bushranger Well-Known Member

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    #5681
    [video=youtube;EewGMBOB4Gg]http://www.youtube.com/watch?v=EewGMBOB4Gg[/video]
    You've probably seen this but would this have anything to do with the depression?
    SEMrush
     
    Last edited: Nov 16, 2010
    Bushranger, Nov 16, 2010 IP
    SEMrush
  2. bogart

    bogart Notable Member

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    #5682
    I suspect that some flight to safety is helping the dollar. Ireland is on verge of default and Greece has a higher deficit than previously stated.

    The Democrats had a one seat majority in the Senate at the same time as the housing bubble was blowing up. The Democrats started the mess and then blocked reform.


    Cool-aid and blame George Bush ... You're going to have quite a hangover when you sober up to the truth.

    [​IMG]

    "A Lot of Losses ... Investors Haven’t Seen Yet": Bank Bear Chris Whalen Sticks to His Guns
    http://finance.yahoo.com/tech-ticke...0dWFsLXRlY2h0aWNrZXIEc2xrA2Fsb3RvZmxvc3Nlcw--

    Christopher Whalen, co-founder of Institutional Risk Analytics, doesn’t expect the good times to last much longer -- especially for the big banks.

    "The crisis is going to come when people realize this current GDP level… is normal," he says, referring to the economy's 2% annual growth rate last quarter. That realization will lead to a sell-off in bank stocks, he predicts. “I don’t see how they (the stocks) can go up if we have down revenues and uncertain GDP.”

    The heart of the problem remains flawed and risky real estate loans banks are still holding; Whalen says two-thirds of big banks assets are shrinking as a result.

    “There’s a lot of losses in the system that investors haven’t seen yet,” he tells Henry in this clip. “All the industry is willing to do is admit to as much loss as they have cash flow, this quarter,” something banks are allowed to do now that the mark-to-market accounting rules have been removed.


    California Will Default On Its Debt, Says Chris Whalen
    http://finance.yahoo.com/tech-ticke...ult-on-its-debt-says-chris-whalen-535616.html
     
    bogart, Nov 17, 2010 IP
  3. Mia

    Mia R.I.P. STEVE JOBS

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    #5683
    http://home.mia.net/~jeremy/economic-reality.pdf

    Breeze, read this PDF.. You can read can't you?

    Take a look at the first two large signatures.

    Bush tried to stop it. Frank, Pelosi and others like them screwed us all.
     
    Mia, Nov 17, 2010 IP
  4. Will.Spencer

    Will.Spencer NetBuilder

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    #5684
    The FDIC's failure to enforce mark-to-market is costing the taxpayers billions of dollars.
     
    Will.Spencer, Nov 17, 2010 IP
  5. Breeze Wood

    Breeze Wood Peon

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    #5685
    What is going on???? - The 2008 elections are over - McCain, your savior and divine son of Bush lost soundly and for the very reasons being discussed above in the perspective of public opinion that the Republicans and their policies and principals drove the country into the ground and change was necessary irregardless of a recession only then beginning to unfold.

    The cause of the recession is in no way associated directly with affordable housing and the defense of its legislation by its authors. Its role in the recession as stated was the credit agencies ratings, bank mortgage inducements and the instruments used in packaging the product for consumer consumption etc. that were derived per the policies and principles of the Administration at the time that led to the collapse of that sector of the economy.

    In fact the situation after 08 was so bad the necessary steps in correcting the economy worked to the advantage of the offenders the following election reinstalling the very culprits that caused the meltdown to begin with - history repeating itself but in fact irregardless the outcome of the election the past debacle is over and a healthier nation today than 08 is better than retaining power while allowing a Depression....all hail the liberals.
     
    Breeze Wood, Nov 17, 2010 IP
  6. Mia

    Mia R.I.P. STEVE JOBS

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    #5686
    The cause of the current economic meltdown in its entirety lies solely to blame on the housing collapse. From FDR and Fannie to the CRA to Freddie to Carter to Clinton, and now Obama.
     
    Mia, Nov 17, 2010 IP
  7. Will.Spencer

    Will.Spencer NetBuilder

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    #5687
    It doesn't appear that the liberals care that they are driving the overall economy to ruin, because while doing so they are taking enormous amounts of taxpayer dollars and sending them to their private interest groups. Those groups then send the money right back to the liberal politicians. It's a perfect system, for everyone but the taxpayers.
     
    Will.Spencer, Nov 17, 2010 IP
  8. bogart

    bogart Notable Member

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    #5688
    The underlying cause of the Housing bubble was forcing banks under the Community Reinvestment Act to make home loans to people that can't afford it. The subprime loans, liar loans, junk loans allowed people that weren't qualified to pay the money back to bid up the cost of homes causing the bubble.

    Barry Obama and ACORN helped create the mortgage crisis by promoting “liar loans:

    Whistleblower documents from an ACORN staffer that raise some new concerns about how the organization has established policies for its housing counselors to use undocumented / under-the-table income for processing loan applications from low-income individuals. In addition to pushing these and other exotic loans, the documents reveal that ACORN has engaged in some apparently illegal activities by commingling government funds from its tax-exempt offshoot entities to fight political battles against corporate lenders.

    http://michellemalkin.com/2008/06/20/blowing-the-whistle-on-acorn/

    Fed Orders 2nd Round of Stress Tests
    http://online.wsj.com/article/SB10001424052748704648604575620732161392908.html?ru=yahoo&mod=yahoo_hs

    A congressional oversight panel warned the foreclosure crisis could undermine the nation's financial stability
    http://www.washingtonpost.com/wp-dyn/content/article/2010/11/16/AR2010111600022.html

    [​IMG]

    [​IMG]

    [​IMG]
     
    bogart, Nov 17, 2010 IP
  9. Mia

    Mia R.I.P. STEVE JOBS

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    #5689
    Will, I think they have every intention of doing just that. I think they know full well what they are doing. Its all part of a larger effort to drive us all back to serfdom and keep they elite few at the top in power.
     
    Mia, Nov 18, 2010 IP
  10. Breeze Wood

    Breeze Wood Peon

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    #5690

    The problem Spencer in believing false allegations in support of your own self interest as a remedy to solutions rather than realizing solutions on the merit of the issues themselves will be for you a history doomed to repeated failures.

    The Gardens ability for renewal is dependent on the Spirit of its inhabitants that is found outside the individual.

    Yes the liberals have spent money in renewing the economy unlike the Republicans who create the problems by not funding the issues the nations creation is meant to resolve.



    Really Bogart, can you expect your statement the banks were forced into lending to have any merit to be further discussed? The principals and policies of the R Administration was the open season for the activity in financing and non regulated banking that caused their super-recession and nothing else.
     
    Last edited: Nov 18, 2010
    Breeze Wood, Nov 18, 2010 IP
  11. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #5691
    But I think the farmer went to jail. Who will be your daddy now?
     
    Blogmaster, Nov 18, 2010 IP
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  12. Blue Star Ent.

    Blue Star Ent. Well-Known Member

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    #5692
    Hmm, that sounds familiar. LINK


    Ever hear of the Weimar Republic ? That is h i s t o r y.
     
    Blue Star Ent., Nov 18, 2010 IP
  13. Will.Spencer

    Will.Spencer NetBuilder

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    #5693
    I keep coming back to Aristotle, who wrote, "It is also in the interests of a tyrant to keep his people poor, so that they may not be able to afford the cost of protecting themselves by arms and be so occupied with their daily tasks that they have no time for rebellion."

    This is historical fact which is documented in written law. You have no basis for argument.
     
    Will.Spencer, Nov 18, 2010 IP
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  14. Corwin

    Corwin Well-Known Member

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    #5694
    Breeze, what is going on???? - The 2010 elections are over - Obama, your savior and divine son of Kenya lost the House, lost seats in the Senate, and lost the Governors soundly for the very reasons being discussed, in the perspective of overwhelming public opinion that the Democrats and their policies and principals clearly drove the country into the ground. Change was necessary because the recession the Democrats caused showed no signs of stopping.
     
    Corwin, Nov 19, 2010 IP
  15. Breeze Wood

    Breeze Wood Peon

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    #5695
    What a joke, legislation to require application and promotion of affordable housing is not the same as forcing banks to finance loans the applicants could not afford.

    The recession was not caused by affordable housing, it was the recession that caused the collapse of affordable housing. The majority of mortgage related loans and those of affordable housing that failed, as stated before was the result of lax regulation of the industry, inaccurate credit appraisals, instruments the industry created in perpetuating the their monetary returns unchecked by gov't regulations, etc. etc. that led to the financial collapse of the housing market and the illiquidity it created in exacerbating an already ensuing recession. The principals and policies of self regulation promoted by the Republican Administration was ultimately responsible for the collapse and its contribution to the recession.

    The financial institutions and their operations were the subject of reform with the collapse of the industry not affordable housing legislation that remains the same today as originally enacted.
     
    Breeze Wood, Nov 19, 2010 IP
  16. Mia

    Mia R.I.P. STEVE JOBS

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    #5696
    Did you even bother to read that letter I posted a link to?

    [​IMG]
     
    Mia, Nov 19, 2010 IP
  17. bogart

    bogart Notable Member

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    #5697
    Billy O'Reily exposes Democratic Banking Committe Chairman Barney Frank as responsible for Housing Bubble

    [video=youtube;aIm5Mp-mmRU]http://www.youtube.com/watch?v=aIm5Mp-mmRU[/video]

    [​IMG]
     
    Last edited: Nov 19, 2010
    bogart, Nov 19, 2010 IP
  18. Breeze Wood

    Breeze Wood Peon

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    #5698



    from the previous post -

    The financial institutions and the parameters of their operations were the subject of reform with the collapse of the housing industry not affordable housing legislation that remains the same today as originally enacted.

    You might think they would have something better than poor people to blame their recession on.......oh, just being Republican I guess says it all.
     
    Last edited: Nov 19, 2010
    Breeze Wood, Nov 19, 2010 IP
  19. Will.Spencer

    Will.Spencer NetBuilder

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    #5699
    Quantitative Easing Explained

    [video=youtube;PTUY16CkS-k]http://www.youtube.com/watch?v=PTUY16CkS-k[/video]

    Hi-larious!
     
    Will.Spencer, Nov 20, 2010 IP
  20. Breeze Wood

    Breeze Wood Peon

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    #5700
    “We’re going to have to deal with it as adults. Whether we like it or not, the federal government has obligations and we have obligations on our part.”


    Lets hope Boehner is promptly removed as their new speaker for the sake of sanity. Oh, and the delinquent R's in this forum can have their flag burning and tung wagging all in one.

    Of course everyone knows there are no adults among the Rs.
     
    Breeze Wood, Nov 20, 2010 IP
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