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An economic reminder. When Obama almost topped 5% GDP just 4yrs ago not a con said a word.

Spamature

President
"When this potentially historic agreement is finalized," Clinton said in a statement, "it will strengthen the economy and help consumers, communities and businesses across America."
Who were the authors of the legislation. Not a Dem among them.


George Bush didn't persuade Chairman Raines and Vice Chair Gorelik to abandon their fiduciary responsibilities and start buying 50% sub-prime mortgages to sell around the world to unsuspecting banks!
He was supposed to prevent it.
The Federal Housing Enterprise Oversight Office oversees the financial safety and soundness of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to ensure that they are adequately capitalized and operating safely.


Parent Agency
Housing and Urban Development Department
https://www.federalregister.gov/agencies/federal-housing-enterprise-oversight-office

eh, eh...so you double cross yourself and admit the crash was a result of risky investments that we're sold around the world by the GSE (not GRE) known as Fannie Mae!
The GSE weren't creating the exotic garbage Wall Street sold to investors. Wall Street did that.
As for Republicans wanting to do away with Fannie Mae and take them private you just flat out lie!

It was the flamer Barney Frank.

Once a strong supporter of Fannie Mae and Freddie Mac, former Rep. Barney Frank now says they should be abolished.

"Clearly they should now be abolished," Frank told CNBC's "Power Lunch."


Once they're gone, Frank said, something will need to replace them. "They will be replaced by a mechanism whereby lenders who want to make 30-year fixed rate mortgages will be able to buy a form of federal insurance that will guard them against interest rates spikes," he said.

Take them private in other words!
They wanted it then.

10 yrs of trying

They're getting it now.
 

Spamature

President
How much did Krugman (et al) say the Obama "stimulus" should be? Wasn't that $2 trillion (or more)? So what's right when the Democrats are in charge is wrong when the Republicans take over. Like I said, if you don't have hypocrisy, you don't have a post...
I don't mean with any kind of govt action. Deficit are already projected to be $1 trillion in this hot economy. Expect them to double if we have the same down turn this time.
 

Boca

Governor
Who were the authors of the legislation. Not a Dem among them.
Wow. doubling down with more lies and false claims huh?. You and MV might consider a partnership or collaboration of some kind.

Not wasting anymore time with you either. I'll just call you out on your latest bullshit above
.

From the New York Times

The breakthrough in Friday's legislation came in a backroom meeting at the Capitol soon after midnight, when a group of moderate Senate Democrats -- led by Christopher Dodd of Connecticut and Charles E. Schumer of New York -- forced a compromise .

Dodd, whose state is home to the nation's largest insurance companies, and Schumer, with strong ties to Wall Street, have long sought legislation to repeal the Glass-Steagall Act.

Both men said in interviews Friday that they moved to
strike a compromise after it became apparent that the legislation might be killed, as it was last year by Gramm, over the debate about the Community Reinvestment Act.

Let me repeat in case you didn't get it!


long sought legislation to repeal the Glass-Steagall Act.
long sought legislation to repeal the Glass-Steagall Act.
long sought legislation to repeal the Glass-Steagall Act.

it became apparent that the legislation might be killed, as it was last year by Gramm

it became apparent that the legislation might be killed, as it was last year by Gramm
it became apparent that the legislation might be killed, as it was last year by Gramm

Now go away and stay away...you're stinking up the place too!

.




 
Last edited:

Raoul_Luke

I feel a bit lightheaded. Maybe you should drive.
I don't mean with any kind of govt action. Deficit are already projected to be $1 trillion in this hot economy. Expect them to double if we have the same down turn this time.
So you admit that the Obama economy needed "stimulus" and the Trump economy is "hot." There, don't you feel better now?
 

Raoul_Luke

I feel a bit lightheaded. Maybe you should drive.
No. They were trying to prevent the deflation from setting in.

https://en.wikipedia.org/wiki/Deflation#Minor_deflations_in_the_United_States


Here it is laid out


But, despite this understanding, the major central banks continue to maintain extremely low interest rates as a way to increase demand and, with it, the rate of inflation. They are doing this by promising to keep short-term rates low; maintaining large portfolios of private and government bonds; and, in Europe and Japan, continuing to engage in large-scale asset purchases.


The central bankers justify their concern about low inflation by arguing that a negative demand shock could shift their economies into a period of prolonged deflation, in which the overall price level declines year after year. That would have two adverse effects on aggregate demand and employment. First, the falling price level would raise the real value of the debts that households and firms owe, making them poorer and reducing their willingness to spend. Second, negative inflation means that real interest rates rise, because central banks cannot lower the nominal interest rate below zero. Higher real interest rates, in turn, depress business investment and residential construction.


In theory, by depressing aggregate demand, the combination of increased real debt and higher real interest rates could lead to further price declines, leading to even larger negative inflation rates. As a result, the real interest rate would rise further, pushing the economy deeper into a downward spiral of falling prices and declining demand
.
http://www.nber.org/feldstein/projectsyndicatefeb2015.html
Yes, I know what "deflation" is. And the Fed had to fight it for ten freaking years!!! So now that we have established that the Obama economy was that freaking bad, we can start discussing just how good the Trump economy is that we no longer need to worry about deflation...
 

Spamature

President
So you admit that the Obama economy needed "stimulus" and the Trump economy is "hot." There, don't you feel better now?
The Obama economy was about fixing a collapse. You've seen the numbers. Trump did not inherit an economy that needed any stimulus. But he did it anyway.
 

Spamature

President
Yes, I know what "deflation" is. And the Fed had to fight it for ten freaking years!!! So now that we have established that the Obama economy was that freaking bad, we can start discussing just how good the Trump economy is that we no longer need to worry about deflation...
It's been a good economy for the last 4 yrs. Deflation hasn't been a issue for the last 3 yrs. The formerly underweight now has to worry about getting overweight.
 

Spamature

President
Wow. doubling down with more lies and false claims huh?. You and MV might consider a partnership or collaboration of some kind.

Not wasting anymore time with you either. I'll just call you out on your latest bullshit above
.

From the New York Times

The breakthrough in Friday's legislation came in a backroom meeting at the Capitol soon after midnight, when a group of moderate Senate Democrats -- led by Christopher Dodd of Connecticut and Charles E. Schumer of New York -- forced a compromise .

Dodd, whose state is home to the nation's largest insurance companies, and Schumer, with strong ties to Wall Street, have long sought legislation to repeal the Glass-Steagall Act.

Both men said in interviews Friday that they moved to
strike a compromise after it became apparent that the legislation might be killed, as it was last year by Gramm, over the debate about the Community Reinvestment Act.

Let me repeat in case you didn't get it!

long sought legislation to repeal the Glass-Steagall Act.

long sought legislation to repeal the Glass-Steagall Act.
long sought legislation to repeal the Glass-Steagall Act.

it became apparent that the legislation might be killed, as it was last year by Gramm
it became apparent that the legislation might be killed, as it was last year by Gramm
it became apparent that the legislation might be killed, as it was last year by Gramm

Now go away and stay away...you're stinking up the place too!

.



It was created by REPUBLICANS !

Gramm–Leach–Bliley Act

The banking industry had been seeking the repeal of the 1933 Glass–Steagall Act since the 1980s, if not earlier.[5][6] In 1987 the Congressional Research Service prepared a report that explored the cases for and against preserving the Glass–Steagall act.[7]



Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.



Respective versions of the Financial Services Act were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001
.

https://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act#Legislative_history
 

Raoul_Luke

I feel a bit lightheaded. Maybe you should drive.
The Obama economy was about fixing a collapse. You've seen the numbers. Trump did not inherit an economy that needed any stimulus. But he did it anyway.
The Obama economy was about "fundamentally transforming" the United States of America. It was about punishing success. It was about vilifying wealth creation. It was about controlling entire industries through top-down central planning. And that is why there was so much focus on demand - the supply side was being pummeled.

Of course demand side economics is simply socialism in disguise (as we now know after seeing the growing number of "socialist" democrats embracing the concept). Which is why it didn't work, and the economy was in decline virtually throughout both Obama terms (net of deficit spending):

Screen Shot 2018-07-29 at 6.14.43 AM.png

Hence the constant quest for accelerating inflation, which, under such circumstances presents the only viable route out of such an economic death spiral.

Of course, all that debt accumulated since 2005, as the economy contracted while the deficits soared, is still on the books and continues the need for accelerating price level increases for it to be inflated away. But you have no desire to see this situation working out, because you are too heavily invested in Trump failure. So you pretend none of this was a problem until Trump won. If you don't have hypocrisy, you don't have a post...
 

Raoul_Luke

I feel a bit lightheaded. Maybe you should drive.
It's been a good economy for the last 4 yrs. Deflation hasn't been a issue for the last 3 yrs. The formerly underweight now has to worry about getting overweight.
That, of course, is a lie:

Screen Shot 2018-07-28 at 7.43.13 AM.png

There is a definitive change in economic trajectory since Obama left office:

Screen Shot 2018-07-29 at 6.40.34 AM.png

Screen Shot 2018-07-29 at 6.36.04 AM.png

Screen Shot 2018-07-29 at 6.32.24 AM.png

As you can clearly see, the economy continued to stagnate until Trump removed the Obama era anti-capitalist policy agenda. Of course, this clear evidence of economic improvement since Trump took office will be ignored by you, because if you don't have hypocrisy, you don't have a post...
 

JuliefromOhio

President
Supporting Member
Verified account @JohnJHarwood
John Harwood Retweeted Donald Trump Jr.

under Obama:
—5.1% Q2 2014
—4.9% Q3 2014
—4.7% Q4 2011
—4.5% Q4 2009

John Harwood added,


Donald Trump Jr.Verified account @DonaldJTrumpJr
Incredible numbers. I remember when “the experts” laughed about breaking 3%. Just because Obama never broke 2% doesn’t mean that someone with great policies can’t. Let’s keep this going. https://twitter.com/secretaryacosta/status/1022839889447084034
7:29 PM - 27 Jul 2018
 

Constitutional Sheepdog

][][][%er!!!!!!!
Verified account @JohnJHarwood
John Harwood Retweeted Donald Trump Jr.

under Obama:
—5.1% Q2 2014
—4.9% Q3 2014
—4.7% Q4 2011
—4.5% Q4 2009

John Harwood added,


Donald Trump Jr.Verified account @DonaldJTrumpJr
Incredible numbers. I remember when “the experts” laughed about breaking 3%. Just because Obama never broke 2% doesn’t mean that someone with great policies can’t. Let’s keep this going. https://twitter.com/secretaryacosta/status/1022839889447084034
7:29 PM - 27 Jul 2018
A couple of quartes doesn't make up for the rest of the YEAR'S that the GDP didn't grow.
4 quarters out of how many years?
 

Spamature

President
The Obama economy was about "fundamentally transforming" the United States of America. It was about punishing success. It was about vilifying wealth creation. It was about controlling entire industries through top-down central planning. And that is why there was so much focus on demand - the supply side was being pummeled.

Of course demand side economics is simply socialism in disguise (as we now know after seeing the growing number of "socialist" democrats embracing the concept). Which is why it didn't work, and the economy was in decline virtually throughout both Obama terms (net of deficit spending):

View attachment 39859

Hence the constant quest for accelerating inflation, which, under such circumstances presents the only viable route out of such an economic death spiral.

Of course, all that debt accumulated since 2005, as the economy contracted while the deficits soared, is still on the books and continues the need for accelerating price level increases for it to be inflated away. But you have no desire to see this situation working out, because you are too heavily invested in Trump failure. So you pretend none of this was a problem until Trump won. If you don't have hypocrisy, you don't have a post...
When you start using these Fox News inspired diatribes with conspiratorial motives baked in, it's because you're doubting your own position.

You Trump numbers on that chart predicts a much worse economy than under Obama.
That, of course, is a lie:

View attachment 39861
.
Oh, so you're going to compare on of the greatest economic periods in our history 50's, 60's, 70's, to the time following the worst recession in living history.

There is a definitive change in economic trajectory since Obama left office:

View attachment 39862

View attachment 39863

View attachment 39864

As you can clearly see, the economy continued to stagnate until Trump removed the Obama era anti-capitalist policy agenda. Of course, this clear evidence of economic improvement since Trump took office will be ignored by you, because if you don't have hypocrisy, you don't have a post..
Then you start use the obscure (Texas capital expenditures, really ?) , the exaggerated ( there hasn't been a big change in LFPR and just as much of it happened pre Trump as post Trump anyway) , and the dishonest, (the end of your chart is pretty vague and does nothing to compare either admins).
 

EatTheRich

President
The Obama economy was about "fundamentally transforming" the United States of America. It was about punishing success. It was about vilifying wealth creation. It was about controlling entire industries through top-down central planning. And that is why there was so much focus on demand - the supply side was being pummeled.

Of course demand side economics is simply socialism in disguise (as we now know after seeing the growing number of "socialist" democrats embracing the concept). Which is why it didn't work, and the economy was in decline virtually throughout both Obama terms (net of deficit spending):

View attachment 39859

Hence the constant quest for accelerating inflation, which, under such circumstances presents the only viable route out of such an economic death spiral.

Of course, all that debt accumulated since 2005, as the economy contracted while the deficits soared, is still on the books and continues the need for accelerating price level increases for it to be inflated away. But you have no desire to see this situation working out, because you are too heavily invested in Trump failure. So you pretend none of this was a problem until Trump won. If you don't have hypocrisy, you don't have a post...
It was about a long-term crisis of capitalism that no policy change can reverse and that continues to be felt today. Investors had plenty of money, but couldn’t invest because of ... lack of demand.
 
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