Decline of the Middle Class

[DriveInDriveOut]

You're not.

Ok

 

[floridays]

The Republicans under Reagan cut taxes and the economy boomed. The Republicans under Bush cut taxes and the economy boomed. The Republicans under Trump cut taxes and the economy boomed. Every time the Democrats insisted that the extra revenue brought in from the booms be spent faster than we made it. The Republicans caved because one they want their defense spending and two the Dems demonize them and they're afraid of losing elections. It's the same story over and over. Only the last guy doubled down and spent like crazy, with Republican well wishes. The only way this insanity ends is badly, but do we have to act like lemmings headed over the cliff? No matter what happens, people will still work, SS taxes will be taken out, and companies will match those funds.

@bbsam will also match the funds, but claim it was under duress. Before I joined wasn't he bragging about some yellow Mopar or some like car? I guess the company he was lauding has tightened the screws a little bit. Not so much a cheerleader currently.

 

[vantexan]

The economy boomed under Bush? How drunk does one need to be to believe that?

The economy absolutely boomed under Bush. Took a lot of greed with the biggest real estate bubble in history to ruin it. With help from Democrats pushing banks to make loans to unqualified people. Everyone had a role to play in that meltdown.

 

[vantexan]

@bbsam will also match the funds, but claim it was under duress. Before I joined wasn't he bragging about some yellow Mopar or some like car? I guess the company he was lauding has tightened the screws a little bit. Not so much a cheerleader currently.

Used to talk about making a boatload of cash, buying sports cars. And used to scoff at people like MFE saying just wait, your turn is coming. Bet he still does well, just had to dial down the expectations a bit.

 

[It will be fine]

The economy absolutely boomed under Bush. Took a lot of greed with the biggest real estate bubble in history to ruin it. With help from Democrats pushing banks to make loans to unqualified people. Everyone had a role to play in that meltdown.

Ok. So it boomed except for that whole monstrous crash at the end and that was democrats fault. Got it, sounds reasonable and not at all partisan.

 

[IVE GOTTA PACKAGE 4U]

The economy absolutely boomed under Bush. Took a lot of greed with the biggest real estate bubble in history to ruin it. With help from Democrats pushing banks to make loans to unqualified people. Everyone had a role to play in that meltdown.

Banks got fined for not making subprime loans.

 

[floridays]

Used to talk about making a boatload of cash, buying sports cars. And used to scoff at people like MFE saying just wait, your turn is coming. Bet he still does well, just had to dial down the expectations a bit.

MFE a prophet?

 

[floridays]

Ok. So it boomed except for that whole monstrous crash at the end and that was democrats fault. Got it, sounds reasonable and not at all partisan.

Engage yourself in the reasons for the housing crash, the policies that started and fueled the train wreck.

 

[vantexan]

Ok. So it boomed except for that whole monstrous crash at the end and that was democrats fault. Got it, sounds reasonable and not at all partisan.

Did I not say everyone had a role to play? Shortly after it happened both the NY Times and USA Today ran articles detailing who was to blame and why. Barney Frank and Christopher Dodd, amongst other Democrats, figured prominently. But die-hard libs like you won't ever cop to it. It was Bush, Bush, Bush. Now it's Trump, Trump, Trump. Must kill you to see the Bushes and the Clintons get along so well.

 

[oldngray]

Engage yourself in the reasons for the housing crash, the policies that started and fueled the train wreck.

Thanks Barney Frank?

 

[IVE GOTTA PACKAGE 4U]

Did I not say everyone had a role to play? Shortly after it happened both the NY Times and USA Today ran articles detailing who was to blame and why. Barney Frank and Christopher Dodd, amongst other Democrats, figured prominently. But die-hard libs like you won't ever cop to it. It was Bush, Bush, Bush. Now it's Trump, Trump, Trump. Must kill you to see the Bushes and the Clintons get along so well.

Frank Dodd bill really put the clamps on lending money out. It was a little too much at one time.

 

[floridays]

Thanks Barney Frank?

He's one of them. It was a little larger than just Barney though. You're a smart guy, I'm not telling you anything you don't already know. How's the deacon business going?

 

[vantexan]

Frank Dodd bill really put the clamps on lending money out. It was a little too much at one time.

Actually Frank and Dodd put pressure on banks to lend to the poor so that they could participate in the boom too. Millions of bad loans were made that were bundled into highly leveraged financial instruments that traded like futures. When all those loans started defaulting it nearly brought our entire banking system down. For people who think Washington has little effect on our lives they got an eye opener in 2008.

 

[IVE GOTTA PACKAGE 4U]

Actually Frank and Dodd put pressure on banks to lend to the poor so that they could participate in the boom too. Millions of bad loans were made that were bundled into highly leveraged financial instruments that traded like futures. When all those loans started defaulting it nearly brought our entire banking system down. For people who think Washington has little effect on our lives they got an eye opener in 2008.

They wanted them to make subprime loans and at the same time they wanted the banks to triple their reserves.

 

[floridays]

They wanted them to make subprime loans and at the same time they wanted the banks to triple their reserves.

Bank loans do not increase bank reserves, they increase liabilities. The loan shows up as an asset on the books until it is defaulted on. I stand to be corrected if there is an accountant that can set me straight.

 

[vantexan]

They wanted them to make subprime loans and at the same time they wanted the banks to triple their reserves.

How do you triple your reserves? Depositors. Can't triple what's not there.

 

[IVE GOTTA PACKAGE 4U]

Bank loans do not increase bank reserves, they increase liabilities. The loan shows up as an asset on the books until it is defaulted on. I stand to be corrected if there is an accountant that can set me straight.

Dodd Frank made the banks have more in reserves and pressuring them to make bad loans. Can't make money that way


I would love to shake Buffets hand for standing in Goldman Sachs neck when they was about to go under.

I love it.

 

[IVE GOTTA PACKAGE 4U]

How do you triple your reserves? Depositors. Can't triple what's not there.

Actually I think it was more than triple. Before the bill was passed the banks had to keep $3 out of every deposit and lend out the other $97.

I honestly can't remember what the new number was.

 

[floridays]

Dodd Frank made the banks have more in reserves and pressuring them to make bad loans. Can't make money that way


I would love to shake Buffets hand for standing in Goldman Sachs necj when they was about to go under.

I love it.

I love beer myself green friend. You keeping everything in line in your playhouse?

 

[IVE GOTTA PACKAGE 4U]

I love beer myself green friend. You keeping everything in line in your playhouse?

Better than Obama