Economic Fallacies Libs Believe

[The Rabbi]

-Reagan began exporting manufacturing jobs overseas.
-The economy was doing great under Carter
-Higher taxes are paid by the rich, or corporations or someone else
-If the US runs a trade deficit we are in danger of shipping all our money overseas
-Regulations make business stronger
-Bush was responsible for the melt down
-Deregulation was responsible for the melt down
-Deficit spending stimulates the economy
-Minimum wage laws benefit low skilled workers
-Consumer spending drives the economy
-Unfettered capitalism results in disaster
-Wall Street hedge funds managers don't produce anything
-The Wealthy keep their money in cash in mattresses.

Feel free to add your own.

 

[g5000]

I have never heard a liberal claim the economy was great under Carter.

So I guess we're in the "feel free to make up shit" zone, eh?

But first, some facts: Bush was responsible for the meltdown. Along with Clinton; Gordon Brown; the Republicans; the Democrats; Wall Street; the City of London; the governments of Ireland, Iceland, Germany, Spain, the United Kingdom and Scotland, and Italy; the ratings agencies; city treasurers all around the globe; Alan Greenspan; every pension fund manager; the SEC; the OCC; and a cast of tens of millions of borrowers and investors all over the world.

But you dipshits like to pretend Bush was just a seat warmer for eight years.

 

[g5000]

-Wall Street hedge funds managers don't produce anything

These days, they don't produce much. Read their filings. Very little of their investments are venture capitalism any more.

 

[The Rabbi]

I have never heard a liberal claim the economy was great under Carter.

So I guess we're in the "feel free to make up shit" zone, eh?

But first, some facts: Bush was responsible for the meltdown. Along with Clinton; Gordon Brown; the Republicans; the Democrats; Wall Street; the City of London; the governments of Ireland, Iceland, Germany, Spain, the United Kingdom and Scotland, and Italy; the ratings agencies; city treasurers all around the globe; Alan Greenspan; every pension fund manager; the SEC; the OCC; and a cast of tens of millions of borrowers and investors all over the world.

But you dipshits like to pretend Bush was just a seat warmer for eight years.

Please detail specifically what Bush did that caused the meltdown. SOmehow when called on this simple question dipshits like you default to bumper sticker phrases.

 

[The Rabbi]

-Wall Street hedge funds managers don't produce anything

These days, they don't produce much. Read their filings. Very little of their investments are venture capitalism any more.

Congrats. You are winning kudos from liberals all over. Keep it up.

 

[NYcarbineer]

-Reagan began exporting manufacturing jobs overseas.
-The economy was doing great under Carter
-Higher taxes are paid by the rich, or corporations or someone else
-If the US runs a trade deficit we are in danger of shipping all our money overseas
-Regulations make business stronger
-Bush was responsible for the melt down
-Deregulation was responsible for the melt down
-Deficit spending stimulates the economy
-Minimum wage laws benefit low skilled workers
-Consumer spending drives the economy
-Unfettered capitalism results in disaster
-Wall Street hedge funds managers don't produce anything
-The Wealthy keep their money in cash in mattresses.

Feel free to add your own.

Prove that the liberal consensus is that Reagan caused the exportation of US mfg jobs.

With REAL evidence.

 

[g5000]

-Wall Street hedge funds managers don't produce anything

These days, they don't produce much. Read their filings. Very little of their investments are venture capitalism any more.

Congrats. You are winning kudos from liberals all over. Keep it up.

I am telling the truth. It can't be helped you are parroting some bullshit that is outdated.

Seriously. Read their filings. If you know how. Less than ten percent is venture capitalism.

 

[The Rabbi]

-Wall Street hedge funds managers don't produce anything

These days, they don't produce much. Read their filings. Very little of their investments are venture capitalism any more.

Congrats. You are winning kudos from liberals all over. Keep it up.

I am telling the truth. It can't be helped you are parroting some bullshit that is outdated.

Seriously. Read their filings. If you know how. Less than ten percent is venture capitalism.

Seriously you are one very stupid individual.

 

[The Rabbi]

-Reagan began exporting manufacturing jobs overseas.
-The economy was doing great under Carter
-Higher taxes are paid by the rich, or corporations or someone else
-If the US runs a trade deficit we are in danger of shipping all our money overseas
-Regulations make business stronger
-Bush was responsible for the melt down
-Deregulation was responsible for the melt down
-Deficit spending stimulates the economy
-Minimum wage laws benefit low skilled workers
-Consumer spending drives the economy
-Unfettered capitalism results in disaster
-Wall Street hedge funds managers don't produce anything
-The Wealthy keep their money in cash in mattresses.

Feel free to add your own.

Prove that the liberal consensus is that Reagan caused the exportation of US mfg jobs.

With REAL evidence.

I didnt say the liberal consensus believed that.
Besides, who told you there was such a word as consensus?

 

[g5000]

I have never heard a liberal claim the economy was great under Carter.

So I guess we're in the "feel free to make up shit" zone, eh?

But first, some facts: Bush was responsible for the meltdown. Along with Clinton; Gordon Brown; the Republicans; the Democrats; Wall Street; the City of London; the governments of Ireland, Iceland, Germany, Spain, the United Kingdom and Scotland, and Italy; the ratings agencies; city treasurers all around the globe; Alan Greenspan; every pension fund manager; the SEC; the OCC; and a cast of tens of millions of borrowers and investors all over the world.

But you dipshits like to pretend Bush was just a seat warmer for eight years.

Please detail specifically what Bush did that caused the meltdown. SOmehow when called on this simple question dipshits like you default to bumper sticker phrases.

I like how you are parroting my own language. Very flattering. God knows how many times I have said you rubes have the intellectual capacity of a bumper sticker.

Now pay attention. This is only about the fiftieth time I have posted this information on this board:

Here is some deregulation that is entirely on the Republicans: Final Rule Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Rel. No. 34-49830 June 8 2004

The Commission is amending Rule 15c3-12 (the “net capital rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”) to establish a voluntary, alternative method of computing net capital for certain broker-dealers.

Bush's SEC voted unanimously in 2004 to waive the net capital rule for the 5 biggest broker-dealers. That waiver led directly to the demise of those broker-dealers.

All five of the broker-dealers who were given that extra special treatment by the SEC no longer exist as independent companies or converted into bank holding companies so they could be bailed out.

Bear Stearns was the first to go under. Then Lehman Brothers went under. Then Merrill Lynch went under.

Goldman Sachs and Morgan Stanley converted to bank holding companies so they could receive bailout money.

 

[g5000]

-Wall Street hedge funds managers don't produce anything

These days, they don't produce much. Read their filings. Very little of their investments are venture capitalism any more.

Congrats. You are winning kudos from liberals all over. Keep it up.

I am telling the truth. It can't be helped you are parroting some bullshit that is outdated.

Seriously. Read their filings. If you know how. Less than ten percent is venture capitalism.

Seriously you are one very stupid individual.

Look at you! Uttering bumper sticker phrases!

 

[g5000]

Here's an economic fallacy the bumper sticker intellects bleev: "Duh CRA negroes caused duh crash."

 

[The Rabbi]

I have never heard a liberal claim the economy was great under Carter.

So I guess we're in the "feel free to make up shit" zone, eh?

But first, some facts: Bush was responsible for the meltdown. Along with Clinton; Gordon Brown; the Republicans; the Democrats; Wall Street; the City of London; the governments of Ireland, Iceland, Germany, Spain, the United Kingdom and Scotland, and Italy; the ratings agencies; city treasurers all around the globe; Alan Greenspan; every pension fund manager; the SEC; the OCC; and a cast of tens of millions of borrowers and investors all over the world.

But you dipshits like to pretend Bush was just a seat warmer for eight years.

Please detail specifically what Bush did that caused the meltdown. SOmehow when called on this simple question dipshits like you default to bumper sticker phrases.

I like how you are parroting my own language. Very flattering. God knows how many times I have said you rubes have the intellectual capacity of a bumper sticker.

Now pay attention. This is only about the fiftieth time I have posted this information on this board:

Here is some deregulation that is entirely on the Republicans: Final Rule Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Rel. No. 34-49830 June 8 2004

The Commission is amending Rule 15c3-12 (the “net capital rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”) to establish a voluntary, alternative method of computing net capital for certain broker-dealers.

Bush's SEC voted unanimously in 2004 to waive the net capital rule for the 5 biggest broker-dealers. That waiver led directly to the demise of those broker-dealers.

All five of the broker-dealers who were given that extra special treatment by the SEC no longer exist as independent companies or converted into bank holding companies so they could be bailed out.

Bear Stearns was the first to go under. Then Lehman Brothers went under. Then Merrill Lynch went under.

Goldman Sachs and Morgan Stanley converted to bank holding companies so they could receive bailout money.

Correlation is not causality. You have to demonstrate that the rule change in 2004 caused the meltdown in 2008. Not going to happen, btw.

 

[The Rabbi]

Here's an economic fallacy the bumper sticker intellects bleev: "Duh CRA negroes caused duh crash."

And just as I predicted. You cannot prove your case so you revert to name calling, bumper sticker slogans, and stupidity.

 

[g5000]

The SEC Rule I posted above gives some insight into Bush's true motive for trying to force the GSEs to shrink their portfolios. He was doing Wall Street's bidding so they could get more market share of the booming derivatives bubble built on mortgages.

The SEC ruling was in 2004. By the end of 2005, the GSE's uS market share had shrunk to less than 30 percent, down from 50 percent.

 

[g5000]

I have never heard a liberal claim the economy was great under Carter.

So I guess we're in the "feel free to make up shit" zone, eh?

But first, some facts: Bush was responsible for the meltdown. Along with Clinton; Gordon Brown; the Republicans; the Democrats; Wall Street; the City of London; the governments of Ireland, Iceland, Germany, Spain, the United Kingdom and Scotland, and Italy; the ratings agencies; city treasurers all around the globe; Alan Greenspan; every pension fund manager; the SEC; the OCC; and a cast of tens of millions of borrowers and investors all over the world.

But you dipshits like to pretend Bush was just a seat warmer for eight years.

Please detail specifically what Bush did that caused the meltdown. SOmehow when called on this simple question dipshits like you default to bumper sticker phrases.

I like how you are parroting my own language. Very flattering. God knows how many times I have said you rubes have the intellectual capacity of a bumper sticker.

Now pay attention. This is only about the fiftieth time I have posted this information on this board:

Here is some deregulation that is entirely on the Republicans: Final Rule Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Rel. No. 34-49830 June 8 2004

The Commission is amending Rule 15c3-12 (the “net capital rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”) to establish a voluntary, alternative method of computing net capital for certain broker-dealers.

Bush's SEC voted unanimously in 2004 to waive the net capital rule for the 5 biggest broker-dealers. That waiver led directly to the demise of those broker-dealers.

All five of the broker-dealers who were given that extra special treatment by the SEC no longer exist as independent companies or converted into bank holding companies so they could be bailed out.

Bear Stearns was the first to go under. Then Lehman Brothers went under. Then Merrill Lynch went under.

Goldman Sachs and Morgan Stanley converted to bank holding companies so they could receive bailout money.

Correlation is not causality.

Another bumper sticker phrase!

That ruling has been shown to be a root cause, dittohead.

 

[g5000]

Agency’s ’04 Rule Let Banks Pile Up New Debt

They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments.

The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.

A lone dissenter — a software consultant and expert on risk management — weighed in from Indiana with a two-page letter to warn the commission that the move was a grave mistake. He never heard back from Washington.

Over the following months and years, each of the firms would take advantage of the looser rules. At Bear Stearns, the leverage ratio — a measurement of how much the firm was borrowing compared to its total assets — rose sharply, to 33 to 1. In other words, for every dollar in equity, it had $33 of debt. The ratios at the other firms also rose significantly.

The 2004 decision for the first time gave the S.E.C. a window on the banks’ increasingly risky investments in mortgage-related securities.

 

[NYcarbineer]

-Reagan began exporting manufacturing jobs overseas.
-The economy was doing great under Carter
-Higher taxes are paid by the rich, or corporations or someone else
-If the US runs a trade deficit we are in danger of shipping all our money overseas
-Regulations make business stronger
-Bush was responsible for the melt down
-Deregulation was responsible for the melt down
-Deficit spending stimulates the economy
-Minimum wage laws benefit low skilled workers
-Consumer spending drives the economy
-Unfettered capitalism results in disaster
-Wall Street hedge funds managers don't produce anything
-The Wealthy keep their money in cash in mattresses.

Feel free to add your own.

Prove that the liberal consensus is that Reagan caused the exportation of US mfg jobs.

With REAL evidence.

I didnt say the liberal consensus believed that.
Besides, who told you there was such a word as consensus?

Okay, so who's the ONE liberal who believes it, and what then does that ONE liberal say about liberals?

 

[NYcarbineer]

-Reagan began exporting manufacturing jobs overseas.
-The economy was doing great under Carter
-Higher taxes are paid by the rich, or corporations or someone else
-If the US runs a trade deficit we are in danger of shipping all our money overseas
-Regulations make business stronger
-Bush was responsible for the melt down
-Deregulation was responsible for the melt down
-Deficit spending stimulates the economy
-Minimum wage laws benefit low skilled workers
-Consumer spending drives the economy
-Unfettered capitalism results in disaster
-Wall Street hedge funds managers don't produce anything
-The Wealthy keep their money in cash in mattresses.

Feel free to add your own.

If minimum wage laws don't benefit low skilled workers, why are low skilled workers in the US making 8 bucks an hour, and low skilled workers in China making a third of that, or even less, whatever their minimum wage is?

 

[PredFan]

One of the overriding beliefs that progressives have that causes them to make idiotic claims about economics is their belief that wealth is finite. They truely believe that if the rich have 90% of the money then there is none left for them. This is why they blame their poverty on the rich. They cannot grasp the concept that wealth is made, that there is no limit to the amount of money anyone can make. For example these morons were believing that nonsense before Bill Gates graduated high school.