Family net worth retreats to early 1990's levels

[zeke]

Some of you Dem leaning folks crack me up. Here you are, asking tough, pertinent questions of Repubs.

Do you not know that FOX does not provide answers to tough questions? That FOX does not do anaylsis of issues? That it is easier for the brain dead Rethugs to just regurgitate the same drivel they hear on FOX and Rush. The Rethug party, right or wrong is the motto.

Quit asking the hard questions. Make it easier on them. You are gonna make their heads blow up.
And it will be Obama's fault.

 

[thanatos144]

Some of you Dem leaning folks crack me up. Here you are, asking tough, pertinent questions of Repubs.

Do you not know that FOX does not provide answers to tough questions? That FOX does not do anaylsis of issues? That it is easier for the brain dead Rethugs to just regurgitate the same drivel they hear on FOX and Rush. The Rethug party, right or wrong is the motto.

Quit asking the hard questions. Make it easier on them. You are gonna make their heads blow up.
And it will be Obama's fault.

Tell oh wise buttnugget. How did Obama help in bringing us out of this economic stagnation?

 

[RDD_1210]

The same ones the Republicans have been using for the last 30 years.

Unless, that is, you can point to what he did different.

So if the policies were already in place, how can Obama be the cause of what has happened?

Thanks for proving my point.

I thought Obama came to change the failed policies of George W Bush?
Actually he has changed plenty: Obamacare, Dodd-Frank, EPA regs, etc.

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

 

[The Rabbi]

So if the policies were already in place, how can Obama be the cause of what has happened?

Thanks for proving my point.

I thought Obama came to change the failed policies of George W Bush?
Actually he has changed plenty: Obamacare, Dodd-Frank, EPA regs, etc.

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

 

[thanatos144]

I thought Obama came to change the failed policies of George W Bush?
Actually he has changed plenty: Obamacare, Dodd-Frank, EPA regs, etc.

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

What growth? We are losing jobs each and every month. Thats not growth slow or otherwise.

 

[The Rabbi]

GDP growth maxed out at about 3% and is now down to about 1.5%. That is pitiful.

 

[RDD_1210]

I thought Obama came to change the failed policies of George W Bush?
Actually he has changed plenty: Obamacare, Dodd-Frank, EPA regs, etc.

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

You still haven't actually read the article. Come down off your racist soapbox for just a minute and give reading a chance. You might like it.

 

[RDD_1210]

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

What growth? We are losing jobs each and every month. Thats not growth slow or otherwise.

False.

 

[thanatos144]

GDP growth maxed out at about 3% and is now down to about 1.5%. That is pitiful.

GDP growth does no longer take in to account things like loss of jobs. How they measure these things has become suspect.

 

[thanatos144]

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

What growth? We are losing jobs each and every month. Thats not growth slow or otherwise.

False.

You dont read the news?

 

[RDD_1210]

What growth? We are losing jobs each and every month. Thats not growth slow or otherwise.

False.

You dont read the news?

Not the "news" you read.

 

[thanatos144]

False.

You dont read the news?

Not the "news" you read.

So you dont read the truth.

 

[RDD_1210]

You dont read the news?

Not the "news" you read.

So you dont read the truth.

Give me a good laugh, link me to "the truth".

 

[NYcarbineer]

No blaming Bush here.....This is all on Obama's watch..
Family Net Worth Drops to Level of Early

Which policies that Obama has enacted has caused this to happen? Specifically and how?

Frightening that you must ask that.
Ok.....
A projected $15 trillion deficit over the next ten years.
A lagging economy which is held back by uncertainty produced by Administration's policies.
Obamacare. New and higher taxes. The federal reserve's inability or unwillingness to stay out of the way of the economy. This proposal of another round of "quantitative easing" has the markets in limbo.
The Administration's unwillingness to allow the housing market to bottom out.
"The private sector is doing fine"...Obama's words.

Taxes have been lowered under Obama, not raised. Stop lying.

There is ALWAYS uncertainty in the economy. This is the biggest lie of century, i.e., that the economy can't grow because of uncertainty.

The Fed has nothing to do with Obama, and the Fed is not in anybody's way. Interest rates are virtually at zero.

Not allowing the housing market to bottom? So if housing prices were lower, the wealth figures cited in the OP would be lower, and you'd be trying to blame those even worse numbers on Obama.

Shut up. You're an idiot making a fool of yourself.

 

[NYcarbineer]

Which policies that Obama has enacted has caused this to happen? Specifically and how?

Frightening that you must ask that.
Ok.....
A projected $15 trillion deficit over the next ten years.
A lagging economy which is held back by uncertainty produced by Administration's policies.
Obamacare. New and higher taxes. The federal reserve's inability or unwillingness to stay out of the way of the economy. This proposal of another round of "quantitative easing" has the markets in limbo.
The Administration's unwillingness to allow the housing market to bottom out.
"The private sector is doing fine"...Obama's words.

In other words ... you can't name one Obama policy that led to this affect.

Don't forget who you're talking to.

 

[The Rabbi]

Lets try and not change the topic. We're talking about policies that dropped the net worth of families between 2007 and 2010. Try and read the article before giving us your expert opinion.

We have had 3 years of high unemployment and low growth. Coming out of a severe recession no one would have predicted that. So we need to explain this phenomenon. What is different now from, say, 1990?
The major differences are the actions and policies of the Obama Administration, for example Obamacare, Dodd Frank, HAMP, and the auto bankruptcies. All of them attempted to mitigate effects of the downturn, or prevent future ones, but had the effect of depressing business confidence and economic activity.
Does this help explain the difference here? Yes. Is it a complete explanation? No. The economy is complex. But to say, things were soooo bad that Obama's policies couldn't affect the economy is just ignorant.

You still haven't actually read the article. Come down off your racist soapbox for just a minute and give reading a chance. You might like it.

Which part of what I wrote is contradicted in the article?
The main sources of decrease are the decrease in home values, addressed in my post, and the high unempoloyment rate, also addressed in my post.
Is there something else you'd care to deflect with? Maybe mention Glass Steagal or something?

 

[The Rabbi]

Which policies that Obama has enacted has caused this to happen? Specifically and how?

Frightening that you must ask that.
Ok.....
A projected $15 trillion deficit over the next ten years.
A lagging economy which is held back by uncertainty produced by Administration's policies.
Obamacare. New and higher taxes. The federal reserve's inability or unwillingness to stay out of the way of the economy. This proposal of another round of "quantitative easing" has the markets in limbo.
The Administration's unwillingness to allow the housing market to bottom out.
"The private sector is doing fine"...Obama's words.

Taxes have been lowered under Obama, not raised. Stop lying.

There is ALWAYS uncertainty in the economy. This is the biggest lie of century, i.e., that the economy can't grow because of uncertainty.

The Fed has nothing to do with Obama, and the Fed is not in anybody's way. Interest rates are virtually at zero.

Not allowing the housing market to bottom? So if housing prices were lower, the wealth figures cited in the OP would be lower, and you'd be trying to blame those even worse numbers on Obama.

Shut up. You're an idiot making a fool of yourself.

No, they have not. Taxes not only have not been lowered, but they are scheduled to increase massively Jan 1.
Quit puking the party line.

 

[NYcarbineer]

All those people losing their houses and jobs and retirement investments could not possibly contribute to the figure could it? It could not possibly be Wall Street sucking trillions out the economy, or job security becoming a thing of the past could it? No it has to be one guy, obstructed on practically everything that did it. We traded a solid middle class for this lousy service economy and all we got was these stupid RW whiners where we used to have courageous Americans.

The value of one's home is a huge contributor to one's wealth. People started overpaying for homes in the 2000's just like they overpaid for stocks in the late 90's. As a measure of wealth, a home is only worth what someone else will pay you for it.

 

[NYcarbineer]

Frightening that you must ask that.
Ok.....
A projected $15 trillion deficit over the next ten years.
A lagging economy which is held back by uncertainty produced by Administration's policies.
Obamacare. New and higher taxes. The federal reserve's inability or unwillingness to stay out of the way of the economy. This proposal of another round of "quantitative easing" has the markets in limbo.
The Administration's unwillingness to allow the housing market to bottom out.
"The private sector is doing fine"...Obama's words.

Taxes have been lowered under Obama, not raised. Stop lying.

There is ALWAYS uncertainty in the economy. This is the biggest lie of century, i.e., that the economy can't grow because of uncertainty.

The Fed has nothing to do with Obama, and the Fed is not in anybody's way. Interest rates are virtually at zero.

Not allowing the housing market to bottom? So if housing prices were lower, the wealth figures cited in the OP would be lower, and you'd be trying to blame those even worse numbers on Obama.

Shut up. You're an idiot making a fool of yourself.

No, they have not. Taxes not only have not been lowered, but they are scheduled to increase massively Jan 1.
Quit puking the party line.

All of the Bush tax cuts were extended PLUS the payroll tax was cut. The 2009 stimulus bill had individual tax cuts in it for most people for 2 years.

Tell us how that did not amount to a net lowering of taxes.

 

[RDD_1210]

Frightening that you must ask that.
Ok.....
A projected $15 trillion deficit over the next ten years.
A lagging economy which is held back by uncertainty produced by Administration's policies.
Obamacare. New and higher taxes. The federal reserve's inability or unwillingness to stay out of the way of the economy. This proposal of another round of "quantitative easing" has the markets in limbo.
The Administration's unwillingness to allow the housing market to bottom out.
"The private sector is doing fine"...Obama's words.

Taxes have been lowered under Obama, not raised. Stop lying.

There is ALWAYS uncertainty in the economy. This is the biggest lie of century, i.e., that the economy can't grow because of uncertainty.

The Fed has nothing to do with Obama, and the Fed is not in anybody's way. Interest rates are virtually at zero.

Not allowing the housing market to bottom? So if housing prices were lower, the wealth figures cited in the OP would be lower, and you'd be trying to blame those even worse numbers on Obama.

Shut up. You're an idiot making a fool of yourself.

No, they have not. Taxes not only have not been lowered, but they are scheduled to increase massively Jan 1.
Quit puking the party line.

So they haven't been raised under Obama is what you're saying? Got it.