Rush popping pills again

[1989]

You just think that everybody in the USA that is poor or is having a rough time doesn't want, or will not work for a living.
Just because you got yours and you abviously worked hard to get it don't mean that there isn't millions of people in this country that can't make ends meat because of illness or just bad luck.
Thats the difference between you and me and liberals and conservatives. I think that the rich should pay more in taxes and you think that you shouldn't have to pay tax at all.

What has Obama done for the poor? He has increased a sales tax which is a regressive tax. That hurts the poor.

He says that he doesn't cater to "Fat Cats" on wall street. Yet those "Fat Cats" are getting fatter. In fact didn't wall street jobs grow by 10,000 jobs in December?

By the way, the rich do pay more in taxes.

 

[toonertoo]

What has Obama done for the poor? He has increased a sales tax which is a regressive tax. That hurts the poor.

He says that he doesn't cater to "Fat Cats" on wall street. Yet those "Fat Cats" are getting fatter. In fact didn't wall street jobs grow by 10,000 jobs in December?

By the way, the rich do pay more in taxes.

How has he hurt the poor?
Cigarette taxes for one. Yes the poor smoke when they may not be able to feed themselves. It is an addiction and it hurts the poor to have to pay more of what they have for something they think they need.
Cash for clunkers. There went those terrible cars that the poor get to buy when we throw them away, and the poor will have a harder time getting used parts for their clunkers. Plus the poor dont get loans, so it helped them not at all. And with the credit as tight as it was, even a borderline buyer would not have gotten financed.
And now get fined for not buying healthcare. I got along ok for years without it, I paid what I had to when one of us got sick, yes made payments, on my health, how terrible. Had one of us gotten terribly sick, I would have qualified for a safety net program, or got reduced prices. I would not have been able to afford a health insurance premium.

 

[unionman]

you're trying to make a comparison between Rush a radio personality and the president of the united states. In so doing you're almost making the argument that Obama is better then Rush when Rush is not in a position to affect anything in this country.

at this point Obama can not be the best president you have seen because he has not done anything positive unless lip service is your cup of tea.

10 percent unemployment again today even though weekly numbers being reported should have indicated much better results.

somebody in the labor department is trying to to manipulate the numbers.

many financial experts are recommending investing in foreclosures. they are predicting a glut of foreclosures in the coming years.

At this point the stock market is showing recovery while the overall market is not. Money flow is still tight. Real estate market showing a little movement but not much. Unemployment is still well beyond 10 percent.

Obama is trying to light wet charcoal. At this point he has thrown a lot of lighter fluid on the charcoal and is hoping the charcoal will now stay lit.

How soon they forget the total doomsday mode this economy was in just 12 short months ago and when we are coming out of it in just 12 short months the only thing the nay sayers can say is, what has he done. If only we could say that about Bush. he might have been an ok President.

 

[tieguy]

How soon they forget the total doomsday mode this economy was in just 12 short months ago and when we are coming out of it in just 12 short months the only thing the nay sayers can say is, what has he done. If only we could say that about Bush. he might have been an ok President.

One thing I'm learning as I get older is that markets seem to correct theirselves if we let them. The only intervention I've seen that seems to work is closing it early on a bad day. Doomsday forecasts tend to be for drama queens and politicians who wish to overstate their own accomplishments.
Obama and
this democratic congress now missing any real accomplishments use it could have been worse as their benchmark.

 

[unionman]

One thing I'm learning as I get older is that markets seem to correct theirselves if we let them. The only intervention I've seen that seems to work is closing it early on a bad day. Doomsday forecasts tend to be for drama queens and politicians who wish to overstate their own accomplishments.
Obama and
this democratic congress now missing any real accomplishments use it could have been worse as their benchmark.

Thankfully we will never know how bad it could have been.

 

[1989]

Thankfully we will never know how bad it could have been.

Funny how recovery started before any stimulus money was spent. That tells me that the fundamentals were so strong that even obama couldn't even brake it.

 

[unionman]

Funny how recovery started before any stimulus money was spent. That tells me that the fundamentals were so strong that even obama couldn't even brake it.

The bigger question is where would we be if another Republican was president.
If the worst recession since 1929 isnt broke, I don't know what is.

 

[1989]

The bigger question is where would we be if another Republican was president.
If the worst recession since 1929 isnt broke, I don't know what is.

As Tie was saying, markets correct themselves. The stock market, for example, has corrected from it's lows because it was grossly oversold. A broken stock market couldn't fix itself a few months but corrections can happen quickly.

The fact that we are talking about taxes on the banks already tells me that they were down (low on capital because or declining assets) not broke. That also tells me that obama thinks that banks are lending too much right now.

$147 oil was high but it corrected itself.
Home prices were high and it corrected itself.

My point is a market is worth what it is trading at. If you think a certain market is too high (or a bubble) then short it or stay out of it.

 

[unionman]

As Tie was saying, markets correct themselves. The stock market, for example, has corrected from it's lows because it was grossly oversold. A broken stock market couldn't fix itself a few months but corrections can happen quickly.

The fact that we are talking about taxes on the banks already tells me that they were down (low on capital because or declining assets) not broke. That also tells me that obama thinks that banks are lending too much right now.

$147 oil was high but it corrected itself.
Home prices were high and it corrected itself.

My point is a market is worth what it is trading at. If you think a certain market is too high (or a bubble) then short it or stay out of it.

That is true but there is always so greedy sob that is trying to munipilate the housing ,oil, or what ever market to make a buck.
Answer me this, do you really think that the credit market would have corrected itself if the government had not stepped in.

 

[island1fox]

That is true but there is always so greedy sob that is trying to munipilate the housing ,oil, or what ever market to make a buck.
Answer me this, do you really think that the credit market would have corrected itself if the government had not stepped in.

Unionman,
If the government had not stepped in to begin with ----forcing banks to make risky loans --the housing disaster would have never happened --point fingers left or right --but the bottom line the disaster began with politicians.
Also with Fannie Having a blank check from Obama --who are you going to blame the coming housing crash on ???

 

[unionman]

Unionman,
If the government had not stepped in to begin with ----forcing banks to make risky loans --the housing disaster would have never happened --point fingers left or right --but the bottom line the disaster began with politicians.
Also with Fannie Having a blank check from Obama --who are you going to blame the coming housing crash on ???

That is a totally seperate argument. Yes, Democrates tried to get lower income people into homes and the banks took that idea and turned it into a global disaster.

 

[1989]

That is true but there is always so greedy sob that is trying to munipilate the housing ,oil, or what ever market to make a buck.
Answer me this, do you really think that the credit market would have corrected itself if the government had not stepped in.

Manipulation of a market never lasts. I think that a consolidation of the sector would have helped, but I don't have a problem with the government giving banks a loan, but don't believe in putting good money in to save bad money.

 

[island1fox]

That is a totally seperate argument. Yes, Democrates tried to get lower income people into homes and the banks took that idea and turned it into a global disaster.

Unionman,
Not looking to give you a hard time --but you avoided giving an answer.
Every one is an expert after things happen ----I am telling you that Obama and Fannie ---are going to cause another bust --why is he not doing something to reign Fannie in ????

 

[1989]

That is a totally seperate argument. Yes, Democrates tried to get lower income people into homes and the banks took that idea and turned it into a global disaster.

Didn't most of the bad loans originate from mortgage brokers and sold banks, FNM, and FRE? Freddie and Fannie were merely the market maker that kept these loans profitable.

 

[Lue C Fur]

Unionman,
If the government had not stepped in to begin with ----forcing banks to make risky loans --the housing disaster would have never happened --point fingers left or right --but the bottom line the disaster began with politicians.
Also with Fannie Having a blank check from Obama --who are you going to blame the coming housing crash on ???

Wait for it..........

Bush!!!

Remember...everything is Bush's fault. Anything that happened in the past, present, or future is Bush's fault. I think i heard someone blame the earthquake in Haiti on Bush.

 

[unionman]

Manipulation of a market never lasts. I think that a consolidation of the sector would have helped, but I don't have a problem with the government giving banks a loan, but don't believe in putting good money in to save bad money.

You don't think that the banking system was getting ready to self implode in on its self back in Sep of 09? Even though lending, the economy, and the stock market just about fell through the floor. That problem could have been catastrophic. It would have been a domino effect that would have decimated the world economy. I believe this to be fact and I don't think just lending banks a little money would have done squat to fix the magnitude of that problem.

 

[unionman]

Unionman,
Not looking to give you a hard time --but you avoided giving an answer.
Every one is an expert after things happen ----I am telling you that Obama and Fannie ---are going to cause another bust --why is he not doing something to reign Fannie in ????

securities have nothing to do with it?

 

[1989]

You don't think that the banking system was getting ready to self implode in on its self back in Sep of 09? Even though lending, the economy, and the stock market just about fell through the floor. That problem could have been catastrophic. It would have been a domino effect that would have decimated the world economy. I believe this to be fact and I don't think just lending banks a little money would have done squat to fix the magnitude of that problem.

There were healthy institutions out there that didn't need tarp. I loved the tarp program. But the stimulus was more waste of dinero.

 

[unionman]

There were healthy institutions out there that didn't need tarp. I loved the tarp program. But the stimulus was more waste of dinero.

There were healthy institutions out there but almost all lending at stopped completely and that was the real problem.
How can you call stimulus money a waste when it has been proven in the past that doing nothing makes the situation worse.
I understand the whole spending is out of control argument but it doesn't hold water in this troubled economy.
Other countries are spending money to stimulate there economies because it works.

 

[1989]

There were healthy institutions out there but almost all lending at stopped completely and that was the real problem.
How can you call stimulus money a waste when it has been proven in the past that doing nothing makes the situation worse.
I understand the whole spending is out of control argument but it doesn't hold water in this troubled economy.
Other countries are spending money to stimulate there economies because it works.

We should have given our money to china, because they did it right. If you listen to the conference calls of Deer and Cat last quarter, China was their driver. Commodity prices are rising again because of double digit growth in China. Ag, steel, aluminum, copper, and yes even oil and coal are going higher, not because of the US, but China. The driver of the world economy.