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It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....View attachment 83970 This is my favorite thing the Edonomist sometimes talks about.....it's impossible to find in liberal circles however....for it spells out the doom that is upon us.....You're a fucking idiot.......McDonald's Menu Prices
Item Price Meal
Burgers and Sandwiches
Big Mac $3.99
McDonald's® Menu Prices for 2016 | Secret Menus
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I bill out between 400 to 1000 dollars an hour to think....you?Wow...a real life basket weaver......It was an example of what it means to analyze a single variable. You're stupid as fuck. How do you not grasp that?
Skylar keeps thinking when I said "all else held equal," it meant there are no other variables. If you hacks had gone to college, you'd have had to have come across that concept before. It's basic to any analysis discussion.
Ceteris paribus - Wikipedia, the free encyclopedia
How does assuming the value of the single variable "test" it?
That is Tautologicus paribus...
I went to perfectly good college, and spent more hours delving into macro econ over the past 6 months than you have in your entire 22 years on the planet.
OK, I'm done now with Skylar and you for this discussion. You are just too stupid. I've explained to you like three times the concept of ceteris paribus. I also provided a link to the description of it so you could read that. I said I was explaining that CONCEPT to the retarded Mr. Skylar.
How the two of you can't grasp that is beyond me. But I'm not wasting my time on this anymore. I'm not explaining this simple concept to you again
5 years of Latin.....Economics at undergraduate and graduate levels.....
What do you think you can tell me about ceteris paribus?
I bet you've never been paid to think......amirite?
Whenever democrats want to say that it was the economic policies of the repubican party that led to the recession of 2008, 2009, 2010, 2012, 2013, 2014, 2015, and 2016 then someone should just point out this video
There are plenty of other videos of democrats preventing people from addressing the issues that led to the housing bubble and collapse.
Whenever democrats want to say that it was the economic policies of the repubican party that led to the recession of 2008, 2009, 2010, 2012, 2013, 2014, 2015, and 2016 then someone should just point out this video
There are plenty of other videos of democrats preventing people from addressing the issues that led to the housing bubble and collapse.
You are a moron......Take a gander at the conclusions of the FCIC........the GSEs were not among the primary causes of the Great Recession......
and the recession ended near the end of Q2, 2009.....
OK once again the facts...
Major causes of the initial subprime mortgage crisis and following recession include:
Once the recession began, various responses were attempted with different degrees of success. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.
- International trade imbalances and
- lax lending standards contributing to high levels of developed country household debt and real-estate bubbles that have since burst;
- U.S. government housing policies;
- and limited regulation of non-depository financial institutions.
Causes of the Great Recession - Wikipedia, the free encyclopedia
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
Pure and simple.
A) with Fannie/Freddie (F&F) guaranteeing subprime loans...(Fannie and Freddie remain two of the largest financial institutions in the world, responsible for a combined $5 trillion in mortgage assets.) 7 Things You Need to Know About Fannie Mae and Freddie Mac
B) They have the power to guarantee or purchase mortgages years after the original loan is made.
The commitment of F&F to maintain a liquid market changes the market. Imagine the positive and negative side effects of central banks, apply them to the long-term debt market, lather rinse repeat. Will somebody be there to take this hot potato off my hands? If so, I'm more willing to buy the potato today.
How Many Bad Loans Did Fannie and Freddie Originate? | EconLog | Library of Economics and Liberty
Now for many of you really DUMB people...
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.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajIEoZCommlk
So IF F&F backed by the U.S. government will take the bad loans off the banks hands
Federal officials heap much of the blame for the subprime mortgage mess on lenders,
claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them.
It turns out that the U.S. government itself was one of the lenders giving out high-interest, subprime mortgages, some of them predatory, according to government documents filed in federal court.
Case in point: "Rather than immediately shuttering or selling Superior, as it normally does with failed banks, the Federal Deposit Insurance Corp. continued to run the bank's subprime-mortgage business for months as it looked for a buyer. With FDIC people supervising day-to-day operations, Superior funded more than 6,700 new subprime loans worth more than $550 million, according to federal mortgage data."
FDIC Faces Mortgage Mess After Running Failed Bank
So in summary GWB warned 17 times alone in 2008 (by the way why didn't he do it earlier??? Oh I guess there were some other more pressing
issues like the following MAJOR cataclysmic events that preceded the housing bubble!!!!)
Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because idiots don't seem to comprehend... RECESSIONS are like large ships.. it takes miles to turn one...i.e. so does a "RECESSION"...
it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months
A Major $8 trillion market loss
Are you aware that the dot.com bust occurred and cost $8 trillion in losses? Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$8 trillion in market losses MEAN lost tax revenue. PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $8 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion
The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Now before you idiots say "well Bush should have known"! DUMMIES... ever hear of the Gorelick Memo signed under CLINTON??
Gorelick Memo that created the wall between FBI & CIA thus no knowledge of the 9/11 bombers shared with the FBI!!! Looks especially imprudent 10 years later.
Because the memo created a barrier for U.S. intelligence agencies to share information with the FBI, one of its unintended consequences may have been to prevent the FBI from receiving the necessary intelligence to stop the Sept. 11, 2001 terrorist attacks, the worst in American history.
Gorelick Memo Allegedly Impeded Probe of Clinton Fundraising Scandal
1995 memo [Clinton presidency-concerned about Chinese election sales] Gorelick wrote, stated explicitly that they would “go beyond what is legally required, [to] prevent any risk of creating an unwarranted appearance that FISA is being used to avoid procedural safeguards which would apply in a criminal investigation.” GORELICK Memo!
Jamie Gorelick’s wall barred anti-terror investigators from accessing the computer of Zacarias Moussaoui, the 20th hijacker, already in custody on an immigration violation shortly before 9/11.
At the time, an enraged FBI investigator wrote a prophetic memo to headquarters about the wall.
Whatever has happened to this — someday someone will die — and wall or not — the public will not understand why we were not more effective in throwing every resource we had at certain problems…..
especially since the biggest threat to us UBL [Usama bin Laden], is getting the most protection.
So, a year before the 9/11 attacks, a special unit in the U.S. military was aware of the presence of an al-Queda cell in Brooklyn, New York, and sought to share its information with the FBI but was stopped cold.Why?Because (as described in the April 16, 2004 Washington Times piece) “on March 4, 1995, [Jamie Gorelick, the then number 2 official in the Clinton Justice Department, sent a 4-page directive] to FBI Director Louis Freeh and Mary Jo White, the New York-based U.S. attorney investigating the 1993 World Trade Center bombing.
In the memo, Ms. Gorelick ordered Mr. Freeh and Ms. White to follow information-sharing procedures
that ‘go beyond what is legally required,’ in order to avoid ‘any risk of creating an unwarranted appearance’
that the Justice Department was using Foreign Intelligence Surveillance Act (FISA) warrants, instead of ordinary criminal investigative procedures, in an effort to undermine the civil liberties of terrorism suspects.”
Could 9/11 Have Been Prevented? The Gorelick Memo and What We Knew
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
$1 trillion in losses due to the WORST Hurricane SEASONS in history. 2,215 lives lost
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground
THESE events OCCURRED!
YET in SPITE of:
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts... In spite of nearly $8 trillion in lost businesses, market values, destroyed property..
IN SPITE of the above:
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later due to dot.com/9-11 losses against revenue.
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=20
BEA National Economic Accounts
Average annual growth in the Gross Domestic Product over 8 years 2.9% compared to the Idiot's..
SMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
SIMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
IN Spite of all the events AND if the housing bubble caused by the below people hadn't occurred it would have
been: 4.4% compared to what now???
2001 2.3% increase
2002 2.4%
2003 6.8%
2004 6.4%
2005 5.4%
2006 4.6%
2007 3.2%
2008 -7.7%
I bill out between 400 to 1000 dollars an hour to think....you?Wow...a real life basket weaver......How does assuming the value of the single variable "test" it?
That is Tautologicus paribus...
I went to perfectly good college, and spent more hours delving into macro econ over the past 6 months than you have in your entire 22 years on the planet.
OK, I'm done now with Skylar and you for this discussion. You are just too stupid. I've explained to you like three times the concept of ceteris paribus. I also provided a link to the description of it so you could read that. I said I was explaining that CONCEPT to the retarded Mr. Skylar.
How the two of you can't grasp that is beyond me. But I'm not wasting my time on this anymore. I'm not explaining this simple concept to you again
5 years of Latin.....Economics at undergraduate and graduate levels.....
What do you think you can tell me about ceteris paribus?
I bet you've never been paid to think......amirite?
It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....View attachment 83970 This is my favorite thing the Edonomist sometimes talks about.....it's impossible to find in liberal circles however....for it spells out the doom that is upon us.....You're a fucking idiot.......McDonald's Menu Prices
Item Price Meal
Burgers and Sandwiches
Big Mac $3.99
McDonald's® Menu Prices for 2016 | Secret Menus
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I have no hope of you ever understanding the data...but I do hold out hope your limited IQ will allow you to grasp what a chart is.....
You're an idiot. Fact.Bush is 100% responsible. Fact.
Whenever democrats want to say that it was the economic policies of the repubican party that led to the recession of 2008, 2009, 2010, 2012, 2013, 2014, 2015, and 2016 then someone should just point out this video
There are plenty of other videos of democrats preventing people from addressing the issues that led to the housing bubble and collapse.
You are a moron......Take a gander at the conclusions of the FCIC........the GSEs were not among the primary causes of the Great Recession......
and the recession ended near the end of Q2, 2009.....
OK once again the facts...
Major causes of the initial subprime mortgage crisis and following recession include:
Once the recession began, various responses were attempted with different degrees of success. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.
- International trade imbalances and
- lax lending standards contributing to high levels of developed country household debt and real-estate bubbles that have since burst;
- U.S. government housing policies;
- and limited regulation of non-depository financial institutions.
Causes of the Great Recession - Wikipedia, the free encyclopedia
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
Pure and simple.
A) with Fannie/Freddie (F&F) guaranteeing subprime loans...(Fannie and Freddie remain two of the largest financial institutions in the world, responsible for a combined $5 trillion in mortgage assets.) 7 Things You Need to Know About Fannie Mae and Freddie Mac
B) They have the power to guarantee or purchase mortgages years after the original loan is made.
The commitment of F&F to maintain a liquid market changes the market. Imagine the positive and negative side effects of central banks, apply them to the long-term debt market, lather rinse repeat. Will somebody be there to take this hot potato off my hands? If so, I'm more willing to buy the potato today.
How Many Bad Loans Did Fannie and Freddie Originate? | EconLog | Library of Economics and Liberty
Now for many of you really DUMB people...
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.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajIEoZCommlk
So IF F&F backed by the U.S. government will take the bad loans off the banks hands
Federal officials heap much of the blame for the subprime mortgage mess on lenders,
claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them.
It turns out that the U.S. government itself was one of the lenders giving out high-interest, subprime mortgages, some of them predatory, according to government documents filed in federal court.
Case in point: "Rather than immediately shuttering or selling Superior, as it normally does with failed banks, the Federal Deposit Insurance Corp. continued to run the bank's subprime-mortgage business for months as it looked for a buyer. With FDIC people supervising day-to-day operations, Superior funded more than 6,700 new subprime loans worth more than $550 million, according to federal mortgage data."
FDIC Faces Mortgage Mess After Running Failed Bank
So in summary GWB warned 17 times alone in 2008 (by the way why didn't he do it earlier??? Oh I guess there were some other more pressing
issues like the following MAJOR cataclysmic events that preceded the housing bubble!!!!)
Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because idiots don't seem to comprehend... RECESSIONS are like large ships.. it takes miles to turn one...i.e. so does a "RECESSION"...
it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months
A Major $8 trillion market loss
Are you aware that the dot.com bust occurred and cost $8 trillion in losses? Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$8 trillion in market losses MEAN lost tax revenue. PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $8 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion
The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Now before you idiots say "well Bush should have known"! DUMMIES... ever hear of the Gorelick Memo signed under CLINTON??
Gorelick Memo that created the wall between FBI & CIA thus no knowledge of the 9/11 bombers shared with the FBI!!! Looks especially imprudent 10 years later.
Because the memo created a barrier for U.S. intelligence agencies to share information with the FBI, one of its unintended consequences may have been to prevent the FBI from receiving the necessary intelligence to stop the Sept. 11, 2001 terrorist attacks, the worst in American history.
Gorelick Memo Allegedly Impeded Probe of Clinton Fundraising Scandal
1995 memo [Clinton presidency-concerned about Chinese election sales] Gorelick wrote, stated explicitly that they would “go beyond what is legally required, [to] prevent any risk of creating an unwarranted appearance that FISA is being used to avoid procedural safeguards which would apply in a criminal investigation.” GORELICK Memo!
Jamie Gorelick’s wall barred anti-terror investigators from accessing the computer of Zacarias Moussaoui, the 20th hijacker, already in custody on an immigration violation shortly before 9/11.
At the time, an enraged FBI investigator wrote a prophetic memo to headquarters about the wall.
Whatever has happened to this — someday someone will die — and wall or not — the public will not understand why we were not more effective in throwing every resource we had at certain problems…..
especially since the biggest threat to us UBL [Usama bin Laden], is getting the most protection.
So, a year before the 9/11 attacks, a special unit in the U.S. military was aware of the presence of an al-Queda cell in Brooklyn, New York, and sought to share its information with the FBI but was stopped cold.Why?Because (as described in the April 16, 2004 Washington Times piece) “on March 4, 1995, [Jamie Gorelick, the then number 2 official in the Clinton Justice Department, sent a 4-page directive] to FBI Director Louis Freeh and Mary Jo White, the New York-based U.S. attorney investigating the 1993 World Trade Center bombing.
In the memo, Ms. Gorelick ordered Mr. Freeh and Ms. White to follow information-sharing procedures
that ‘go beyond what is legally required,’ in order to avoid ‘any risk of creating an unwarranted appearance’
that the Justice Department was using Foreign Intelligence Surveillance Act (FISA) warrants, instead of ordinary criminal investigative procedures, in an effort to undermine the civil liberties of terrorism suspects.”
Could 9/11 Have Been Prevented? The Gorelick Memo and What We Knew
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
$1 trillion in losses due to the WORST Hurricane SEASONS in history. 2,215 lives lost
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground
THESE events OCCURRED!
YET in SPITE of:
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts... In spite of nearly $8 trillion in lost businesses, market values, destroyed property..
IN SPITE of the above:
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later due to dot.com/9-11 losses against revenue.
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=20
BEA National Economic Accounts
Average annual growth in the Gross Domestic Product over 8 years 2.9% compared to the Idiot's..
SMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
SIMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
IN Spite of all the events AND if the housing bubble caused by the below people hadn't occurred it would have
been: 4.4% compared to what now???
2001 2.3% increase
2002 2.4%
2003 6.8%
2004 6.4%
2005 5.4%
2006 4.6%
2007 3.2%
2008 -7.7%
2001 2.3% increase
2002 2.4%
2003 6.8%
2004 6.4%
2005 5.4%
2006 4.6%
2007 3.2%
2008 -7.7%
This is what happens when the government stops collecting revenue (Bush tax cuts). When it subsidizes millions of jobs moving overseas. When over 42,000 factories close. When it lives off credit cards. When you have two unpaid for wars. When you binge deregulate.
And then, just before Obama was sworn into office, it all came crashing down. Those numbers tell the story.
Republicans still try to blame Obama, but he wasn't sworn in until 2009.
That's not what the chart states....do try to keep up, push your basket weaving degree harder....It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....View attachment 83970 This is my favorite thing the Edonomist sometimes talks about.....it's impossible to find in liberal circles however....for it spells out the doom that is upon us.....You're a fucking idiot.......McDonald's Menu Prices
Item Price Meal
Burgers and Sandwiches
Big Mac $3.99
McDonald's® Menu Prices for 2016 | Secret Menus
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I have no hope of you ever understanding the data...but I do hold out hope your limited IQ will allow you to grasp what a chart is.....
This chart's function is to bring in the Rubes, rube.......
If the "data" to be understood involves the price of a Big Mac, don't you think it should represent.....uh.......well..........THE ACTUAL PRICE OF A BIG MAC?
Awwww....you're jealous....how precious.....I bill out between 400 to 1000 dollars an hour to think....you?Wow...a real life basket weaver......OK, I'm done now with Skylar and you for this discussion. You are just too stupid. I've explained to you like three times the concept of ceteris paribus. I also provided a link to the description of it so you could read that. I said I was explaining that CONCEPT to the retarded Mr. Skylar.
How the two of you can't grasp that is beyond me. But I'm not wasting my time on this anymore. I'm not explaining this simple concept to you again
5 years of Latin.....Economics at undergraduate and graduate levels.....
What do you think you can tell me about ceteris paribus?
I bet you've never been paid to think......amirite?
Yeah........It's pretty clear......
Do you "think" you understand that Big Mac thingy now?
Fucking idiot...
More deanie lies.Whenever democrats want to say that it was the economic policies of the repubican party that led to the recession of 2008, 2009, 2010, 2012, 2013, 2014, 2015, and 2016 then someone should just point out this video
There are plenty of other videos of democrats preventing people from addressing the issues that led to the housing bubble and collapse.
You are a moron......Take a gander at the conclusions of the FCIC........the GSEs were not among the primary causes of the Great Recession......
and the recession ended near the end of Q2, 2009.....
OK once again the facts...
Major causes of the initial subprime mortgage crisis and following recession include:
Once the recession began, various responses were attempted with different degrees of success. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.
- International trade imbalances and
- lax lending standards contributing to high levels of developed country household debt and real-estate bubbles that have since burst;
- U.S. government housing policies;
- and limited regulation of non-depository financial institutions.
Causes of the Great Recession - Wikipedia, the free encyclopedia
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
Pure and simple.
A) with Fannie/Freddie (F&F) guaranteeing subprime loans...(Fannie and Freddie remain two of the largest financial institutions in the world, responsible for a combined $5 trillion in mortgage assets.) 7 Things You Need to Know About Fannie Mae and Freddie Mac
B) They have the power to guarantee or purchase mortgages years after the original loan is made.
The commitment of F&F to maintain a liquid market changes the market. Imagine the positive and negative side effects of central banks, apply them to the long-term debt market, lather rinse repeat. Will somebody be there to take this hot potato off my hands? If so, I'm more willing to buy the potato today.
How Many Bad Loans Did Fannie and Freddie Originate? | EconLog | Library of Economics and Liberty
Now for many of you really DUMB people...
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.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajIEoZCommlk
So IF F&F backed by the U.S. government will take the bad loans off the banks hands
Federal officials heap much of the blame for the subprime mortgage mess on lenders,
claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them.
It turns out that the U.S. government itself was one of the lenders giving out high-interest, subprime mortgages, some of them predatory, according to government documents filed in federal court.
Case in point: "Rather than immediately shuttering or selling Superior, as it normally does with failed banks, the Federal Deposit Insurance Corp. continued to run the bank's subprime-mortgage business for months as it looked for a buyer. With FDIC people supervising day-to-day operations, Superior funded more than 6,700 new subprime loans worth more than $550 million, according to federal mortgage data."
FDIC Faces Mortgage Mess After Running Failed Bank
So in summary GWB warned 17 times alone in 2008 (by the way why didn't he do it earlier??? Oh I guess there were some other more pressing
issues like the following MAJOR cataclysmic events that preceded the housing bubble!!!!)
Are you aware that a recession started under Clinton and became official 3/01 ended 11/01?
Because idiots don't seem to comprehend... RECESSIONS are like large ships.. it takes miles to turn one...i.e. so does a "RECESSION"...
it doesn't just start the day NBER states... it is a slow degradation and it started under CLINTON!!!
Source: USATODAY.com - It's official: 2001 recession only lasted eight months
A Major $8 trillion market loss
Are you aware that the dot.com bust occurred and cost $8 trillion in losses? Again Clinton laid claim BUT someone had to pay and it occurred during Bush's first year!
$8 trillion in market losses MEAN lost tax revenue. PLUS JOBS!!!!
According to the Los Angeles Times, when the dot-com bubble burst, it wiped out $8 trillion dollars in market value for tech companies.
More than half of the Internet companies created since 1995 were gone by 2004 -
and hundreds of thousands of skilled technology workers were out of jobs.
Source: The dot-com bubble: How to lose $5 trillion
The worst attacks on the USA in History.. 3,000 deaths!!!
Obviously most of you are UNAWARE 9/11 cost 3,000 lives, $2 trillion in lost businesses,market values assets.
Jobs lost in New York owing to the attacks: 146,100 JUST in New York.
Are you aware this happened???
Now before you idiots say "well Bush should have known"! DUMMIES... ever hear of the Gorelick Memo signed under CLINTON??
Gorelick Memo that created the wall between FBI & CIA thus no knowledge of the 9/11 bombers shared with the FBI!!! Looks especially imprudent 10 years later.
Because the memo created a barrier for U.S. intelligence agencies to share information with the FBI, one of its unintended consequences may have been to prevent the FBI from receiving the necessary intelligence to stop the Sept. 11, 2001 terrorist attacks, the worst in American history.
Gorelick Memo Allegedly Impeded Probe of Clinton Fundraising Scandal
1995 memo [Clinton presidency-concerned about Chinese election sales] Gorelick wrote, stated explicitly that they would “go beyond what is legally required, [to] prevent any risk of creating an unwarranted appearance that FISA is being used to avoid procedural safeguards which would apply in a criminal investigation.” GORELICK Memo!
Jamie Gorelick’s wall barred anti-terror investigators from accessing the computer of Zacarias Moussaoui, the 20th hijacker, already in custody on an immigration violation shortly before 9/11.
At the time, an enraged FBI investigator wrote a prophetic memo to headquarters about the wall.
Whatever has happened to this — someday someone will die — and wall or not — the public will not understand why we were not more effective in throwing every resource we had at certain problems…..
especially since the biggest threat to us UBL [Usama bin Laden], is getting the most protection.
So, a year before the 9/11 attacks, a special unit in the U.S. military was aware of the presence of an al-Queda cell in Brooklyn, New York, and sought to share its information with the FBI but was stopped cold.Why?Because (as described in the April 16, 2004 Washington Times piece) “on March 4, 1995, [Jamie Gorelick, the then number 2 official in the Clinton Justice Department, sent a 4-page directive] to FBI Director Louis Freeh and Mary Jo White, the New York-based U.S. attorney investigating the 1993 World Trade Center bombing.
In the memo, Ms. Gorelick ordered Mr. Freeh and Ms. White to follow information-sharing procedures
that ‘go beyond what is legally required,’ in order to avoid ‘any risk of creating an unwarranted appearance’
that the Justice Department was using Foreign Intelligence Surveillance Act (FISA) warrants, instead of ordinary criminal investigative procedures, in an effort to undermine the civil liberties of terrorism suspects.”
Could 9/11 Have Been Prevented? The Gorelick Memo and What We Knew
Year 2001: September 11 Terrorist Attacks
The 9/11 terrorist attacks were the events that helped shape other financial events of the decade. After that terrible day in September 2001, our economic climate was never to be the same again. It was only the third time in history that the New York Stock Exchange was shut down for a period of time. In this case, it was closed from September 10 - 17. Besides the tragic human loss of that day, the economic loss cannot even be estimated. Some estimate that there was over $60 billion in insurance losses alone. Airlines didn't fly for 3 days!
Approximately 18,000 small businesses were either displaced or destroyed in Lower Manhattan after the Twin Towers fell. There was a buildup in homeland security on all levels. 9/11 caused a catastrophic financial loss for the U.S.
Source: 10 Events That Rocked the Financial World
Anthrax Attacks...
The 2001 anthrax attacks in the United States, also known as Amerithrax from its Federal Bureau of Investigation (FBI) case name, occurred over the course of several weeks beginning on Tuesday, September 18, 2001, one week after the September 11 attacks. Letters containing anthrax spores were mailed to several news media offices and two DemocraticU.S. Senators, killing five people and infecting 17 others.
$1 trillion in losses due to the WORST Hurricane SEASONS in history. 2,215 lives lost
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005. It took 1,836 lives and caused $81.2 billion in damages. It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground
THESE events OCCURRED!
YET in SPITE of:
a) 400,000 jobs lost due to Hurricanes Katrina/Rita ,
b) 2,800,000 jobs lost in alone due to 9/11,
c) 300,000 jobs lost due to dot.com busts... In spite of nearly $8 trillion in lost businesses, market values, destroyed property..
IN SPITE of the above:
2002 $157.8 billion deficit.. also 9/11 occurred and tax revenues lowered for years later due to dot.com/9-11 losses against revenue.
2003 $377.6 billion deficit.. BRAND new cabinet Homeland Security, plus loans made to businesses.. again tax revenues down..affect of 9/11
2004 $412.7 billion deficit.. Revenues up by 5.5% spending increased and economy getting back.
2005 $318.3 billion deficit.. revenues up by 14.5% deficit decreasing at rate of 22%
2006 $248.2 billion deficit.. revenues up by 11.7% deficit decrease 22%
2007 $160.7 billion deficit.. revenues up by 6.7% deficit decrease 35%
2008 $458.6 billion deficit.. revenues down and deficit INCREASED TARP loan mostly...
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=20
BEA National Economic Accounts
Average annual growth in the Gross Domestic Product over 8 years 2.9% compared to the Idiot's..
SMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
SIMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
IN Spite of all the events AND if the housing bubble caused by the below people hadn't occurred it would have
been: 4.4% compared to what now???
2001 2.3% increase
2002 2.4%
2003 6.8%
2004 6.4%
2005 5.4%
2006 4.6%
2007 3.2%
2008 -7.7%
2001 2.3% increase
2002 2.4%
2003 6.8%
2004 6.4%
2005 5.4%
2006 4.6%
2007 3.2%
2008 -7.7%
This is what happens when the government stops collecting revenue (Bush tax cuts). When it subsidizes millions of jobs moving overseas. When over 42,000 factories close. When it lives off credit cards. When you have two unpaid for wars. When you binge deregulate.
And then, just before Obama was sworn into office, it all came crashing down. Those numbers tell the story.
Republicans still try to blame Obama, but he wasn't sworn in until 2009.
That's not what the chart states....do try to keep up, push your basket weaving degree harder....It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....You're a fucking idiot.......McDonald's Menu Prices
Item Price Meal
Burgers and Sandwiches
Big Mac $3.99
McDonald's® Menu Prices for 2016 | Secret Menus
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I have no hope of you ever understanding the data...but I do hold out hope your limited IQ will allow you to grasp what a chart is.....
This chart's function is to bring in the Rubes, rube.......
If the "data" to be understood involves the price of a Big Mac, don't you think it should represent.....uh.......well..........THE ACTUAL PRICE OF A BIG MAC?
Awwww....you're jealous....how precious.....I bill out between 400 to 1000 dollars an hour to think....you?Wow...a real life basket weaver......5 years of Latin.....Economics at undergraduate and graduate levels.....
What do you think you can tell me about ceteris paribus?
I bet you've never been paid to think......amirite?
Yeah........It's pretty clear......
Do you "think" you understand that Big Mac thingy now?
Fucking idiot...
I bill out between 400 to 1000 dollars an hour to think....you?
Only to an abject imbecile like you would a U.S. Congressional bill be a "manifesto."Sorry, imbecile, the crisis began before 2008.Again,the part you're too stupid to understand -- a single member of the House minority party cannot stop any bill the majority party wants to pass. What Frank says on video does not block bills. Votes do. And the House passed only one bill. I bet you don't even know what happened to that one bill.So? Who do you think cares?
I'm still gonna show everyone just how rightarded you are anyway. Case in point, you can't cite a single bill Democrats blocked despite your idiotic claim that they did so. You can't cite one because there isn't one because the nonsense that Democrats blocked any GSE reform bills exists in your diseased brain, not in reality.
LOL you are going to show everyone just how retarded you are, Barnie Frank is on video arguing against Bush that there were no problems at Fannie and Freddie then when they imploded Barnie Frank in a panic pointed the finger of blame at Wall Street. I'll say it slow for you since you seem to have an IQ of about 75, its on video on national tv. God its like talking to a fence post.
God you are dumb, Democrats controlled congress during this time. Bush called on congress to tighten regulations on Fannie and Freddie 17 times 17 do you understand that number. Barney Frank House Financial Services Committee Chairman refused to do anything until 2008 when it was too late. With tighter lending standards at Fannie and Freddie there would be no secondary mortgage market to buy up these shit loans and presto there would be no shit loans written.
Even worse for you -- to demonstrate just how ignorant you are ... let me repeat your own words for everyone on the forum reading this to witness such incredible stupidity....
your words .... are ya ready ...?
"Barney Frank House Financial Services Committee Chairman refused to do anything until 2008 when it was too late."
... see that? According to a raving lunatic like you, Barney Frank did nothing until 2008 ... now let's put aside your chronic rightwing dementia and take a glance at reality....
On March 9th, 2007, just nine weeks after Democrats took over the Congress and Barney Frank became the House Financial Services Committee Chairman, he sponsored
H.R. 1427: Federal Housing Finance Reform Act of 2007 and got it passed in the House.
And you moronically said he did nothing.
What did I just tell you about posting manifestos, its a gift that I even acknowledge your existence let alone read these.
You've yet to return the favor and let us know how much you get paid to think....Awwww....you're jealous....how precious.....I bill out between 400 to 1000 dollars an hour to think....you?Wow...a real life basket weaver......
I bet you've never been paid to think......amirite?
Yeah........It's pretty clear......
Do you "think" you understand that Big Mac thingy now?
Fucking idiot...
This "thought" for which you claim you are paid........it obviously doesn't involve numbers........are you a decorator?
What does a chart with bullshit numbers tell you?That's not what the chart states....do try to keep up, push your basket weaving degree harder....It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....You're a fucking idiot.......McDonald's Menu Prices
Item Price Meal
Burgers and Sandwiches
Big Mac $3.99
McDonald's® Menu Prices for 2016 | Secret Menus
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I have no hope of you ever understanding the data...but I do hold out hope your limited IQ will allow you to grasp what a chart is.....
This chart's function is to bring in the Rubes, rube.......
If the "data" to be understood involves the price of a Big Mac, don't you think it should represent.....uh.......well..........THE ACTUAL PRICE OF A BIG MAC?
Thanks for self identifying you don't understand the chart...that saves us smart people a lot of time....What does a chart with bullshit numbers tell you?That's not what the chart states....do try to keep up, push your basket weaving degree harder....It's not a meme, it's a chart...a chart of data....try to educate yourself what a charts function is....Post #319.....
Yeah.....that's good........So this is your "favorite" illustration, but you don't realize that whoever produced the meme didn't know what the price of a Big Mac is.....
Even more amusing is that you have no idea what the "Big Mac Index" is about.........It is used to measure changes in Purchase Power Parity, between international currencies.....
I have no hope of you ever understanding the data...but I do hold out hope your limited IQ will allow you to grasp what a chart is.....
This chart's function is to bring in the Rubes, rube.......
If the "data" to be understood involves the price of a Big Mac, don't you think it should represent.....uh.......well..........THE ACTUAL PRICE OF A BIG MAC?
What does a chart with bullshit numbers tell you?
We all know you are a LWNJ....and we all know you are incapable of understanding the simple chart....What does a chart with bullshit numbers tell you?
I know what it tells me. Idiot thinks we have a Big Mac economy.
