58 straight months of jobs growth, ACA working great where allowed to, where is this bad economy?

[Faun]

So what? Republicans were still in charge. If the head of their party asks for something and they refuse to deliver it, you can't turn around after their refusal blows up the economy and blame one guy from the minority party because three's a video of him speaking out in favor of the GSE's. While Frank was recorded saying that, the majority party Republicans were sitting on about 5 bills on the matter which Republican leaders in the Senate sat on like Harry Reid sat on while he ran the Senate.

You do know that the GOP didn't control Congress at that point...right? Speaker of the House was Nancy Pelosi. She's a Democrat. If she's the Speaker...then that means that the GOP isn't "in charge". Bush went to Congress with a warning that if it didn't change how we were doing things that we were running the risk of a financial collapse brought on by a housing bubble collapse. Both Chris Dodd and Barney Frank lectured the President on how wrong he was. So...was he wrong?

Oy vey. "That point" was 2003-2006. That's when those bills I cited were squashed by Republican leadership. Republicans controlled both chambers of congress at that time.

But you've blamed Bush for nothing getting done when in all fairness he WAS attempting to address what he saw as a looming problem. My question remains the same...was he right...and were Dodd and Frank completely wrong?

Yes, he was and yes, they were. And I'm not blaming Bush for failing to pass GSE reform. I've consistently blamed Congress. Specifically the Republican party since they were the party in charge. Democrats were wrong, no doubt; but they weren't the ones sitting on the GSE reform bills Bush was asking for. Republicans did that.

When Bush made that statement, Faun...the Democrats had control of Congress...not the GOP...so I'm having a hard time seeing how your claim that the GOP was the party "in charge" is valid. If you read your own cite you can see that Barney Frank wanted more of the same...he wasn't looking to fix anything.

Moans the low-information poster who thinks Democrats currently control the Senate.

First of all, the last time Democrats controlled the Congress prior to 2007, was for 3 days in January, 1995.

Secondly, When Bush first warned about the GSE's, he wasn't asking for reform. But he did warn about it in his 1st budget to Congress. Congress at that time was controlled by Republicans.

Thirdly, Democrats did take control of the Senate after that for about a year and a half when Jim Jeffords switched parties.

Fourthly, Republicans regained the Senate and controlled both chambers of Congress again for the following 4 years.

 

[Faun]

Ok, how many of the 93 million are dependent on welfare?

Why you telling me now we have 93 million folks who are millionaires now?

Out of some 300 million people?

Do the math.it's unsustainable

Yiou do the math. Why was a far lower participation rate sustainable until 1978? Our current rate is higher than anytime in the 50's or 60's.

have a link?

I know the numbers and plenty of government links to support my post bitch.

And for the straight data: Labor Force Participation Rate

fuck your graph needle dick


Just Google how many workers supported welfare till today?

You are lucky I have to go sleep, and be up at 10 pm tonight to go to work because when I come back I will smoke your ass

You should try smoking weed instead. It will calm you down and won't taste as bad.

 

[Faun]

[PDF]The Fluctuating Labor Force Participation Rate in the U.S. ...
lmi.mt.gov/media/9245/art-1013.pdf

• Cached

participation rate was fairly stable in the 1950s and 60s, hovering around 58%. ... lowest participation rate since the early 1980s, and the majority of this decline occurred after 2007. ... The labor force participation rate is influenced by a number

And what happened after 2007?

Wait for it .....






Baby boomers began turning 62.

 

[bedowin62]

LMAO!!

hysterical watching the Left-wingnuts try to brag like they proved something!!

your graph doesnt say what you're trying to make it appear it says, for the reasons ive shown, with government figures, studies, and even your own source 'FRED" of course. lol

 

[bedowin62]

[PDF]The Fluctuating Labor Force Participation Rate in the U.S. ...
lmi.mt.gov/media/9245/art-1013.pdf

• Cached

participation rate was fairly stable in the 1950s and 60s, hovering around 58%. ... lowest participation rate since the early 1980s, and the majority of this decline occurred after 2007. ... The labor force participation rate is influenced by a number

And what happened after 2007?

Wait for it .....






Baby boomers began turning 62.

you missed the part that said......................wait for it



wait for it.................wait

that only about 3 PERCENT of the decline was attributible to age

try again

 

[bedowin62]

The US labor force participation rate has fallen by about three percentage points since the Great Recession. Of that decline, Barclays thinks two points are due to population aging. The rest it blames on less participation within various age groups. Now overall, the US still has participation rates higher than Germany, Japan, and UK — the other large, advanced economies Barclays examines in a new report. But US participation dropped a lot more than those nations between 2005 and 2014. And it has particularly dropped a lot for working-age Americans versus that age group in other nations.

what does working-age mean faun-tard?

 

[francoHFW]

I VOTED TWICE for Bush.
AGAIN NONE of you seem to recognize that 4 major events occurred that have never occurred during any other president's terms.
More importantly this crap about housing bubble???
AGAIN FACTS FACTS FACTS!!!

Obama...
1) 1995 ACORN/with Obama sued CitiBank forcing them to make loans to people THAT would default on their properties!
1995 ACORN/with Obama as one of the attorneys sued CitiBank forcing them to make loans to people THAT would default on their properties!
Citibank settled out of court but this laid the premise for banks to make sub-prime loans.
So now the banks had a problem.
Forced to make sub-prime loans to people that they were pretty sure not going to pay off the loans they had to do something because the FDIC auditors said all those loans were affecting the banks financial status.

On one hand courts ordering bad loans and other hand loans were violating FDIC rules!
2) Banks were forced by FDIC to SELL these TOXIC loans to Fannie/Freddie.. and because in their own words

Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart s Fannie Freddie Guarantee Remarks Stir Up Confusion - Bloomberg

GWB's administration was LAUGHED AT BY Democrats Frank and Dodd after 17 times trying to get Fannie/Freddie fixed!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News


3) AND YOU HAVE NO idea of what happened on 9/18/2008...

The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
It would have been the end of our economic system and our political system as we know it.

Zero Hedge How The World Almost Came To An End At 2PM On September 18


Now as far as TARP...

Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[4]

Now.. WHAT HAPPENED to TARP the program that Bush has been blamed for?
Bailout Scorecard Eye on the Bailout ProPublica
$615 billion went out
$672 Billion came in...

ALL PAID BACK...
PLUS A PROFIT of: $57.7 billion...

I can't believe there are still idiots blaming Barney Frank for the real estate bubble collapse. He was one member of the minority party and you think he brought the whole system down. Republicans controlled the house. Republicans controlled the Senate. Republicans controlled the executive branch. Republicans get the blame, not a member of the minority party. I can't believe you're still in blaine barney frank for the real estate bubble collapse. I'm not saying Barney Frank was right. He wasn't. But he was just one member of the minor party and you think he brought a whole system down.

With all due respect, Faun...George W. Bush went to Congress well before the Housing bubble burst with a warning that the way we were conducting business was setting ourselves up for financial collapse and Barney Frank was one of the Democrats who mocked Bush's appraisal of the situation saying essentially that there was nothing to worry about.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Setting the Record Straight The Three Most Egregious Claims In The New York Times Article On The Housing Crisis

Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs.
* House Financial Services Committee Chairman Barney Frank (D-MA) criticized
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .
The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."...
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie Mae," New York Times, 9/11/03)

* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and
called on him to "immediately reconsider his ill-advised" position. Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze
Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)

Barney Frank s Fannie and Freddie Muddle - US News

Holyfuck.

You didn't even know a bill on GSE reform was about GSE reform. Now you look like a total dumbshit blaming a member of the minority party in the House and another in the Senate when Frank could do nothing to prevent the House from passing GSE reform and Dodd could only filibuster such a bill to prevent it -- but didn't.

you look like an even bigger idiot crying that Frank couldnt do anything when it doesnt matter; he's on record saying nothing needed to be done

all you do is make a fool of yourself faun

It was all over by then. EVERYONE was trying to avoid a panic. Great job, Booshies! Trying to blame F+F is B S. Their % of market went from 75% to 25% in 2003 when Booosh regulators allowed toxic private deals. Welcome to reality, dupe.

 

[Faun]

Now the point I'm making with the above was simple!
With all these events going on major earth shaking events... where would there have been time to concentrate on the
housing bubble? After all when Bush wanted to do something he was rebuffed!
By ERIC DASH Published: August 11, 2007
"Even President Bush weighed in. On Thursday, he said that both Fannie Mae and Freddie Mac needed to complete a “robust reform package” before they expanded their mortgage portfolios.
The statement drew fire from many Democratic lawmakers on Capitol Hill.
Christopher J. Dodd, the chairman of the Senate Banking Committee, called upon President Bush to “immediately reconsider his ill-advised” position as problems in the housing market worsen.
In an interview yesterday, Barney Frank, the chairman of the House Financial Services Committee, said that the president’s comments were “inane.”“Tell the Republicans to stop blocking the bill,” Mr. Frank said. If the president “is saying that ‘I don’t want to support any increase until we pass the reforms,’ then you pass the bill and the bill takes care of that.”

Mr. Frank, like many Democrats, argued that increasing Fannie Mae’s mortgage portfolio was important because the government-sponsored enterprises could provide both liquidity to the market and were more willing to work out problem loans.
http://www.nytimes.com/2007/08/11/business/11fannie.html?_r=0

You are so fucking retarded.

What do you mean, there wasn't enough time to work on the housing bubble? Congress had enough time to draft no less than 5 bills on GSE reform ... had enough time to debate them in committee ... some even passed in committee and at least one passed in the House ........

But your idiotic defense is they didn't have enough time to vote in the Senate on any one of the 3 bills sitting on Bill Frist's desk or the other two sitting in committee??

as has been repeatedly pointed out to you the top Democrat on the comittee said there was no need for ANY ACTION

Apparently, you're ignorant about how our government operates. The leader of the minority party in a committee can't force the leader of the majority party on the committee, and especially the chamber, to not let a bill go through for a full vote.

Barney Frank, despite being the minority party leader in that committee, could not, and did not, prevent any bills from passing in the House on GSE reform. In fact, one bill did pass the House. Bush ripped it up because it was useless.

Now you know. Will you learn? No, you're ineducable. But now you know.

 

[bedowin62]

PRIME AGE MEN: A disturbing change has been the decline in the LFPR of prime-age men: from a near-universal condition, nearly 98% in September 1954, to the latest reported level of 88.7% in March, 2015. It started sinking in the early 1960's, but the slide accelerated in the 1970's. It began at 96.0% in January 1970 and by December of 1979, was 94.3. Further declines in the 1980's and 1990's ended below 90% in December 2008, with the ongoing jobs recession. A share of this decline is a good sign, one that indicates that for some men, there is a financial possibility of withdrawing from the labor force before old age. However, this choice is unlikely for the majority of those who have withdrawn.

 

[francoHFW]

Obama orders same policy that sparked mortgage meltdown
WND - A Free Press for a Free People/2013/04/obama-orders-same-poli
Apr 10, 2013 · ... for billions in bad loans, the Obama administration now ... “Banks are always happy to make safe loans, ... mortgage loans were relaxed ...

It's sad to see there are still people stupid enough to cling to the long debunked idiocy that the CRA caused the meltdown.

Did the Community Reinvestment Act (CRA) contribute to foreclosures and the financial crisis? And, is the CRA being reformed?

The Federal Reserve Board has found no connection between CRA and the subprime mortgage problems. In fact, the Board's analysis (102 KB PDF) found that nearly 60 percent of higher-priced loans went to middle- or higher-income borrowers or neighborhoods, which are not the focus of CRA activity. Additionally, about 20 percent of the higher-priced loans that were extended in low- or moderate-income areas, or to low- or moderate-income borrowers, were loans originated by lenders not covered by the CRA. Our analysis found that only six percent of all higher-priced loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, our review of loan performance found that rates of serious mortgage delinquency are high in all neighborhood groups, not just in lower-income areas.​

POOR IDIOT; nobody is surprised you found a report where a board of governors APPOINTED BY THE PRESIDENT, a government body, that excuses the government's role in the housing market disaster. you keep mistaking your angry, unhinged smugness for reality when you cant see that the moronic things you post can be easily dismissed. all you do Faun is make yourself look stupid

and your report, IF YOU ACTUALLY LOOKED AT IT, or maybe you just Googled something you thought just made your point for you?? anyway your report was commissioned AT THE END OF THE BUSH YEARS. all of sudden you believe the Bush administration right? and it is dated November of 2008; long before the full extent of the damage of the housing crisis became known.

what a tool you are

The president doesn't appoint the economists who wrote that report. Your desperation to dismiss it is duly noted, however.

no i know you didnt even read what you posted IDIOT
try opening it; it is from the Federal Reserve Board it is their report. the Board is appointed by the President

you're such a clown faun

It wasn't laws that caused the bubble, it was corrupt Boosh gov't regulators, fool.

 

[bedowin62]

you're all over the place trying to correct people and calling them ignorant but none of your own premises hold up to scrutiny dummy

PEOPLE AGE 55 AND OVER For the work force 55 years and over, the LFPR is quite different. The LFPR of this group declimed from about 43% in the early 1950's to a minimum of 29.4% in October 1992. Since then, it has been rising and continued to rise during the recession. The latest [5/15] is 39.9. One explanation is this: "Perhaps older Americans are being forced to work more because they have not saved enough for their retirement. This lack of savings may be a result of the recent economic trends in America: stagnant wages, depleted retirement portfolios (from the 2008 financial crisis), and rising health care costs." [http://bpr.berkeley.edu/2013/04/the...te-why-this-trend-should-be-taken-seriously/] The age at which workers are eligible for full Social Security benefits is rising and will affect the choices available especially to those 62 and over. Employment of those over 55 is reflected in this headline: Old Workers Hit New All Time High As All April Jobs Go To The "55 And Older Zero Hedge, 5/15
LFPR WORKERS 55

 

[bedowin62]

EFFECT OF RECESSION: The recent recession has brought the LFPR from an historic peak of 67.3 in early 2000 to a low of 62.7 in September and December of 2014. It has since recovered but only slightly, to 62.9 [5/15]. These levels have not been this low since late 1977, nearly 40 years. The population has aged somewhat over these few years, so the LFPR would be expected to decline but only slightly. Our employment problems are reflected in the number of full-time jobs: at 121.4 million [May 2015], they are still about half a million below their pre-recession peak of 121.9 million reached in November 2007. See http://www.bls.gov/web/empsit/cpseea06.htm for full-time workers.

read it and weep leftard

 

[bedowin62]

Obama orders same policy that sparked mortgage meltdown
WND - A Free Press for a Free People/2013/04/obama-orders-same-poli
Apr 10, 2013 · ... for billions in bad loans, the Obama administration now ... “Banks are always happy to make safe loans, ... mortgage loans were relaxed ...

It's sad to see there are still people stupid enough to cling to the long debunked idiocy that the CRA caused the meltdown.

Did the Community Reinvestment Act (CRA) contribute to foreclosures and the financial crisis? And, is the CRA being reformed?

The Federal Reserve Board has found no connection between CRA and the subprime mortgage problems. In fact, the Board's analysis (102 KB PDF) found that nearly 60 percent of higher-priced loans went to middle- or higher-income borrowers or neighborhoods, which are not the focus of CRA activity. Additionally, about 20 percent of the higher-priced loans that were extended in low- or moderate-income areas, or to low- or moderate-income borrowers, were loans originated by lenders not covered by the CRA. Our analysis found that only six percent of all higher-priced loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, our review of loan performance found that rates of serious mortgage delinquency are high in all neighborhood groups, not just in lower-income areas.​

POOR IDIOT; nobody is surprised you found a report where a board of governors APPOINTED BY THE PRESIDENT, a government body, that excuses the government's role in the housing market disaster. you keep mistaking your angry, unhinged smugness for reality when you cant see that the moronic things you post can be easily dismissed. all you do Faun is make yourself look stupid

and your report, IF YOU ACTUALLY LOOKED AT IT, or maybe you just Googled something you thought just made your point for you?? anyway your report was commissioned AT THE END OF THE BUSH YEARS. all of sudden you believe the Bush administration right? and it is dated November of 2008; long before the full extent of the damage of the housing crisis became known.

what a tool you are

The president doesn't appoint the economists who wrote that report. Your desperation to dismiss it is duly noted, however.

no i know you didnt even read what you posted IDIOT
try opening it; it is from the Federal Reserve Board it is their report. the Board is appointed by the President

you're such a clown faun

It wasn't laws that caused the bubble, it was corrupt Boosh gov't regulators, fool.

fool is what you make of yourself every day dummy. not only did Democrats supporte the giving of mortgages in the name of "fairness" to people that couldnt repay them; they STILL want to go back to those risky lending practices that led to the bubble bursting

 

[francoHFW]

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ lol

 

[Faun]

Great. Now the morons are comparing the economy now to when it was artificially inflated by the real-estate bubble.

 

[francoHFW]

Boosh regulators took "worthy recipients" and changed it to "anyone breathing", fool. Read something.

 

[bedowin62]

Part 2: Why Labor Force Participation Continues to Stay Low
marketrealist.com/2015/.../labor-force-participation-continues-to-stay-lo...

• Cached

Apr 23, 2015 - The aging population is one of the causes. ... In March, labor force participation declined 0.1% to 62.7%, the lowest ..... More people are opting to apply for Medicaid, disability benefits, and food stamps instead of joining the workforce. ... The increase in welfare benefits is contributing to the declining labor


not too hard to find the part of the story you losers on the Left wont talk about

 

[bedowin62]

Labor-Force Participation Among Men Is Declining As ...
www.economics21.org/.../labor-force-participation-among-men-declinin...

• Cached
• Similar

Jan 13, 2015 - Labor-Force Participation Among Men Is Declining As Disability Claims Rise .... activity and reliant on safety-net programs, that would be cause for concern. ... reforms was in the 1990s, during the welfare-reform debate.

 

[bedowin62]

Under Obama: Disability Trust Fund Runs Record 5 Straight ...
cnsnews.com/.../under-obama-disability-trust-fun...

• Cached
• Similar

Cybercast News Service
Loading...
Nov 21, 2013 - Under Obama: Disability Trust Fund Runs Record 5 Straight Yrs of Deficits ... as the number of people receiving disability benefits has surged.

 

[bedowin62]

Another Obama Record... Number of Americans on ...
Another 98.5 Million Down the Drain... Nevada Geothermal About to Go Bust After Hefty Obama Loan - The Gateway Punditobama-record-number-of-ameri...

• Cached
• Similar

Jul 2, 2012 - The number of Americans on disability now exceeds the number of people in New York City. A record 5.4 million workers and their dependents ...