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Name:
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MartiniMan
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Subject:
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That't the best you can do?!?!?
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Date:
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11/23/2011 9:56:53 PM
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i should have guessed you would punt on my challenging question and for only one reason.....you can't answer it because there is no correlation. Honestly, have you ever taken a economics course? Do you have an ounce of common sense? You espoused an opinion that Bush's tax cuts caused the economic collapse. i asked for proof and all you can come up with is
"if the Bush Tax Cuts were such a great idea, why isn't the economy booming?". Wow, that's really convincing evidence....not! Hellooo....there is no correlation except that reducing taxes stimulates economic growth. Has worked every time its tried but for those ignorant of history all i get is a blank stare and drool out of one side of the mouth..
And then the next piece of billiance, "And if an unregulated mortgage industry was such a great idea, why was there such a huge bubble?" First of all, there are very few industries more regulated than banking. But because you won't listen to reason i will explain it to you once again. You see back during the Clinton administration, HUD began a program to force lenders to make sub-prime loans (this is well documented if you don't believe me...check it out). in order to lay off this risk Democrats in Congress likewise pressured Fannie and Freddie to buy these sub-prime mortgages (also well documented). This is why Fannie/Freddie owns 75% of them and private mortgage lenders only hold the remaining 25%. This was exacerbated by the securitization of mortgages which pumped even more cash into Fannie/Freddie and private lenders to give them additional funds to lend to more uncreditworthy applicants (remember the ninja loans?). Sadly this program was carried on during the Bush administration although they tried to rein it in along with GOP members of Congress only to be thwarted by the likes of Bawney Fwank and Chris Dodd (i've seen the hearings and it was sickening to listen to them blow off their concerns). So here's where simple economics take over and please pay attention so i don't have to repeat this again for you. By adding all these sub-prime mortgages they increased demand dramatically as uncreditworthy individuals could suddenly get a mortgage and buy a home. increased demand caused home prices to rise to unsustainable levels. in addition, because home prices rose so dramatically people would borrow against the value of their homes increasing debt but also fueling consumer spending. When the economy slowed those uncreditworthy borrowers were the first ones unable to pay their mortgages. Foreclosures are up, home values go down and the rest is the inevitable outcome of the federal government distorting the markets. This is obviously a simplistic explanation but there are a number of very good books that go into more detail. i doubt you have the intellectual honesty to check them out just like you refuse to read The Forgotten Man.
And your next silliness, "And where did the money come from for 2 wars? Money was spent that we didn't have. Raised the deficit. Yes, Obama added to it, but Bush was doing just fine on his own. if he had been eligible for another 4 years (not that he would have been voted in), he would have added just as prolifically as Obama has. But you will deny it." Of course Bush added to the deficit with the wars and from my perspective it was worth every penny. Those islamofascist bastards killed 3,000 innocent people on 9/11 and they and every country that supported them or harbored them deserved to have their butts kicked. But Obama didn't just add to the deficit like his contribution was some kind of rounding error. He added more to the deficit in just over two years than Bush did in his 8 year presidency. Look it up because that's the numbers from Oblamer's own administration. if you think Bush would have done the same you are dreaming.....but you can't prove it and neither can i but i do have the intellect to deal with what we do know.
And your final statement is a laugher as well, "You are unable to admit that anything that a Republican does is foolish." You are just wrong about this. Here is just a short list of areas where i disagreed with Republicans and thought they were "foolish" which is a mild word. Prescription Drug Program, Amnesty for illegals, pork barrell spending, especially earmarks, compromises with Dems on judicial nominations (i.e., the infamous gang of six), globaloney for those that bought in, Sarbanes Oxley (for those that supported it), the first stimulus and so on. You see Hound, what you don't get is that i am a patriot first, conservative second and only support wishy washy GOP candidates when the alternative is much worse, like your most blessed and not responsible for anything Messiah. But Bush is responsible for everything that happened during his two terms according to you.
it ain't BS if its true. What is BS is refusing to listen to the truth.....and that defines you.
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