The Trump Recession Begins

[Siete]

Used to be you had to have a large down payment to buy a house. That is until Barney Frank and the rest of those morons came along with Fannie Mae. Then anyone who wanted a house, whether they could afford it or not, got a house. A house they soon went bankrupt on because they couldn't afford a house. They just walked away and left the taxpayers with their debt.

LIAR!

LMAO Clueless idiot.

Yes you are. It was Bush who eliminated the down payment, even to those with bad credit!!!

Its was Barney Frank and his cohort who kept telling everyone there wasn't a problem with Fannie Mae. They told that lie all the way up to the collapse of Fannie.

Oh and douchebag has run the country for the last eight years so just who do you think will be blamed when this mystical depression occurs??

Bush is on tape requesting Fannie for 5 million new loans for minority buyers ...

you're an idiot

 

[Siete]

Seven straight days of market gains since the election.

The OP should be hoping this thresd disappears and stops making him look like the fool for starting it.

after it lost 800 points in one day ... have those 800 points been made up yet ?


answer

no

 

[g5000]

"First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion." (Applause.)
- George Bush, June 17, 2002

 

[g5000]

President Bush Calls for Expanding Opportunities to Home Ownership

"And so here are some of the ways to address the issue. First, the single greatest barrier to first time homeownership is a high downpayment. It is really hard for many, many, low income families to make the high down payment."

"And so that's why I propose and urge Congress to fully fund the American Dream Downpayment Fund."


"This will use money, taxpayers' money to help a qualified, low income buyer make a down payment. And that's important."

"Secondly, there is a lack of affordable housing in certain neighborhoods. Too many neighborhoods, especially in inner city America, lack affordable housing units. How can you promote homeownership if people can't afford a home?"


"And so what I've done is propose what we call a Single Family Affordable Housing Tax Credit, to encourage the development of affordable housing in neighborhoods where housing is scarce." (Applause.)

"A third major barrier is the complexity and difficulty of the home buying process. There's a lot of fine print on these forms. And it bothers people, it makes them nervous. And so therefore, what Mel has agreed to do, and Alphonso Jackson has agreed to do is to streamline the process, make the rules simpler, so everybody understands what they are -- makes the closing much less complicated."

"We certainly don't want there to be a fine print preventing people from owning their home. We can change the print, and we've got to."

"That's why I've challenged the industry leaders all across the country to get after it for this goal, to stay focused, to make sure that we achieve a more secure America, by achieving the goal of 5.5 million new minority home owners. I call it America's home ownership challenge."

 

[easyt65]

The Trump Recession Begins

DOLLAR HITS 14-YEAR HIGH

Really?!


(Trump isn't even in office yet, and Libs are already trying to blame the Obama economy on him. Makes sense - he blamed the 1st 7 1/2 years on Bush. )

 

[g5000]

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.

Boom. All five of those broker-dealers crashed, thanks in large part to this ruling by Bush's SEC.

 

[Siete]

"First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion." (Applause.)
- George Bush, June 17, 2002

and

 

[g5000]

"This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments." (Applause.)

President Calls for Expanding Opportunities to Home Ownership

 

[g5000]

"First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion." (Applause.)
- George Bush, June 17, 2002

and

For those who can't view the video:

"More and more people own their homes in America today. Two-thirds of all Americans own their homes, yet we have a problem here in America because few than half of the Hispanics and half the African Americans own the home. That's a homeownership gap. It's a -- it's a gap that we've got to work together to close for the good of our country, for the sake of a more hopeful future. We've got to work to knock down the barriers that have created a homeownership gap.

"I set an ambitious goal. It's one that I believe we can achieve. It's a clear goal, that by the end of this decade we'll increase the number of minority homeowners by at least 5.5 million families." (Applause.)


President Hosts Conference on Minority Homeownership

 

[Campbell]

Bush's fault

Bush started two hot wars, one totally unnecessary. He Wasted two trillion dollars, got 6000 young Americans killed and doubled the national debt from $5.7 trillion to $11.9 trillion. He lived up to the modern Republican commitments.....slashed tax rates, started at least one war and continued to run up the national debt:

..............................................Total U S Debt................................................

Figures Easily Verified....Taken From the Bureau of the Debt

US: $18,775,084,981,440 - Debt as of December 2015?

09/30/2014 $17,824,071,380,733.82

09/30/2013 $16,738,183,526,697.32

09/30/2012 $16,066,241,407,385.89

09/30/2011 $14,790,340,328,557.15

09/30/2010 $13,561,623,030,891.79

09/30/2009 $11,909,829,003,511.75(80% Of All Debt Across 232 Years Borrowed By Reagan And Bushes)

09/30/2008 $10,024,724,896,912.49(Times Square Debt Clock Modified To Accommodate Tens of Trillions)

09/30/2007 $9,007,653,372,262.48

09/30/2006 $8,506,973,899,215.23

09/30/2005 $7,932,709,661,723.50

09/30/2004 $7,379,052,696,330.32

09/30/2003 $6,783,231,062,743.62(Second Bush Tax Cuts Enacted Using Reconciliation)

09/30/2002 $6,228,235,965,597.16

09/30/2001 $5,807,463,412,200.06(First Bush Tax Cuts Enacted Using Reconciliation)

09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)

09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)

09/30/1998 $5,526,193,008,897.62

09/30/1997 $5,413,146,011,397.34

09/30/1996 $5,224,810,939,135.73

09/29/1995 $4,973,982,900,709.39

09/30/1994 $4,692,749,910,013.32 (Bill Clinton Raised Taxes On The Rich early 1993)

09/30/1993 $4,411,488,883,139.38 ( Debt Quadrupled By Reagan/Bush41)

09/30/1992 $4,064,620,655,521.66

09/30/1991 $3,665,303,351,697.03

09/28/1990 $3,233,313,451,777.25

09/29/1989 $2,857,430,960,187.32

09/30/1988 $2,602,337,712,041.16

09/30/1987 $2,350,276,890,953.00

09/30/1986 $2,125,302,616,658.42

09/30/1985 $1,823,103,000,000.00

09/30/1984 $1,572,266,000,000.00

09/30/1983 $1,377,210,000,000.00

09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)(Reagan Slashed Tax Rates To Pre Depression Levels)

09/30/1981 $997,855,000,000.00

 

[edthecynic]

Used to be you had to have a large down payment to buy a house. That is until Barney Frank and the rest of those morons came along with Fannie Mae. Then anyone who wanted a house, whether they could afford it or not, got a house. A house they soon went bankrupt on because they couldn't afford a house. They just walked away and left the taxpayers with their debt.

LIAR!

LMAO Clueless idiot.

Yes you are. It was Bush who eliminated the down payment, even to those with bad credit!!!

Its was Barney Frank and his cohort who kept telling everyone there wasn't a problem with Fannie Mae. They told that lie all the way up to the collapse of Fannie.

Oh and douchebag has run the country for the last eight years so just who do you think will be blamed when this mystical depression occurs??

Whatever you might think a powerless MINORITY congressman might have said, he still NEVER had the power to eliminate down payments for people with bad credit, Bush owns that all by himself.

Well, since you wing-nuts blamed Carter's CRA for the Bush housing crash, you will probably blame Roosevelt for the coming Great Trump Depression.

 

[EvilCat Breath]

The Trump Recession Begins

DOLLAR HITS 14-YEAR HIGH

Really?!


(Trump isn't even in office yet, and Libs are already trying to blame the Obama economy on him. Makes sense - he blamed the 1st 7 1/2 years on Bush. )

Because the economic markets are reacting so positively to the Trump presidency, democrats are forced to skip back a presidency or two and resurrect Bush.

 

[buckeye45_73]

Dow futures pare losses, down about 500; safety breakers stop Nasdaq, S&P 500 spirals

Dow futures briefly dropped more than 800 points and bonds rallied as markets feared Donald Trump could pull off an upset and take the White House. Dow futures were trading about 500 points lower as of 2:14 a.m., ET.

Just before midnight ET, S&P 500 futures and Nasdaq 100 futures plunged more than 5 percent.

That was just above levels identified as "limit down" by the CME, which confirmed to CNBC that S&P and Nasdaq futures can trade above but not below those prices until 9:30 a.m., ET, when the Wednesday U.S. trading session begins.

Stock market all time high
Dollar hits a.14 year high

This recession is killing me

Next cheeto jesus will create jobs and then what will you have left to bitch about?

 

[edthecynic]

Seven straight days of market gains since the election.

The OP should be hoping this thresd disappears and stops making him look like the fool for starting it.

Why, as I pointed out, Obama calmed the markets.
Once Obama is gone however, Trump will usher in his own Great and Wonderful Depression, and I can tell you it will be the greatest and most wonderful depression in history, that I can tell you.

 

[jasonnfree]

Dow futures pare losses, down about 500; safety breakers stop Nasdaq, S&P 500 spirals

Dow futures briefly dropped more than 800 points and bonds rallied as markets feared Donald Trump could pull off an upset and take the White House. Dow futures were trading about 500 points lower as of 2:14 a.m., ET.

Just before midnight ET, S&P 500 futures and Nasdaq 100 futures plunged more than 5 percent.

That was just above levels identified as "limit down" by the CME, which confirmed to CNBC that S&P and Nasdaq futures can trade above but not below those prices until 9:30 a.m., ET, when the Wednesday U.S. trading session begins.

That's the bad news. The good news is that the witch is dead.

 

[DigitalDrifter]

Seven straight days of market gains since the election.

The OP should be hoping this thresd disappears and stops making him look like the fool for starting it.

Why, as I pointed out, Obama calmed the markets.
Once Obama is gone however, Trump will usher in his own Great and Wonderful Depression, and I can tell you it will be the greatest and most wonderful depression in history, that I can tell you.

Fail

You presented this thread, over what was happenning immediately in the market.

 

[Claudette]

Used to be you had to have a large down payment to buy a house. That is until Barney Frank and the rest of those morons came along with Fannie Mae. Then anyone who wanted a house, whether they could afford it or not, got a house. A house they soon went bankrupt on because they couldn't afford a house. They just walked away and left the taxpayers with their debt.

LIAR!

LMAO Clueless idiot.

Yes you are. It was Bush who eliminated the down payment, even to those with bad credit!!!

Its was Barney Frank and his cohort who kept telling everyone there wasn't a problem with Fannie Mae. They told that lie all the way up to the collapse of Fannie.

Oh and douchebag has run the country for the last eight years so just who do you think will be blamed when this mystical depression occurs??

Bush is on tape requesting Fannie for 5 million new loans for minority buyers ...

you're an idiot

And your a fool

 

[edthecynic]

Seven straight days of market gains since the election.

The OP should be hoping this thresd disappears and stops making him look like the fool for starting it.

Why, as I pointed out, Obama calmed the markets.
Once Obama is gone however, Trump will usher in his own Great and Wonderful Depression, and I can tell you it will be the greatest and most wonderful depression in history, that I can tell you.

Fail

You presented this thread, over what was happenning immediately in the market.

I presented this thread before Obama stepped in to calm the markets. Once Trump is on his own, The Trump recession will resume and grow into the greatest most beautiful depression in history, that I can tell you.

 

[easyt65]

Cam, thanks to 'the History of Bush debt according to Liberals'

Barak Obama declared Bush was 'Un-Patriotic' because he is CREDITED with adding $4 trillion during his entire 8 years in office.

In his 1st 6 years with a GOP-led Congress - 6 years that included the 9/11/01 terrorist attack, the economic aftermath that followed, AND 2 wars - Bush's administration ONLY added $2.5 Trillion in new debt...again, in ONLY 6 years.

At the end of his 6th Year Democrats took over a near Super Majority control of Congress. One of the 1st things they did was suspend the passage of annual budgets, which were / are REQUIRED BY LAW. They opted instead for spending measures. One of the reasons why is because when you pass an actual budget you list out exactly what you want money spent on and you - the Controlling Party in Congress - puts your name in the books as it being YOUR Budget. There is a good reason why Liberals did not want their name on the spending they engaged in that followed:

In Bush's last 2 years in office the DNC near-Super Controlled Congress added $1.5 Trillion in 2 years (not bad considering Obama's 1st several budgets AVERAGED $1.3 Trillion EVERY Year.) Still, Democrats managed to spen $1 Trillion less over 2 years than Bush had spend over 6 (SIX) years before they took over Congress. That's quite a jump.

Democrats held onto this near-Super Majority Control of Congress through the end of Obama's 2nd year in office. ... And Barry took full advantage of it...

Despite declaring in his campaign he would eliminate pork in spending, his very 1st piece of legislation was the massive nearly $1 Trillion-in-1-shot Liberal-Only Porkulas disaster Known as Obama's (non-stimulating) Stimulus Bill. This sucker was packed with OVER 7,000 pieces of every backlogged 'wet-dream' pork spending projects Libs had held onto for years while the GOP controlled Congress, just waiting for that day. Not 1 GOP pork bill was in this bloated, tax-payer dollar abusing piece of legislation.
-- It contained such 'awesome' Liberal projects as funding the 'scientific' study of why a homosexual Argentinean male's sex life was better than a heterosexual American male's sex life. (No one can tell me this one wasn't barney Frank's bill! )
-- Barry was even forced to admit there was no such thing as 'Shovel-ready' projects (...much like there was no way you could keep your health care plan / doctor if you liked them once the ACA was rammed into law)

In the end, this DNC-ONLY piece of Obama administration spending cost nearly $1 trillion (in 1 bill, not like the Liberal Congress' $1.5 Trillion under Bush over 2 years), contained over 7,00 pieces of pork, and the CBO reported in the final numbers that Obama's Stimulus Bill, touted as a JOBS Bill', FAILED to keep the Unemployment rate down below 5% as promised (it rose to 9.1%), and cost over $742,000 PER JOB Obama CLAIMED to have saved / created.
Yeah, THAT is the definition of FAILURE and a waste of nearly $1 trillion in a 'Depression'. (Libs enjoyed spending the money...and benefitting personally from 'tax-free 'loans'', like MILLIONAIRE Diane Feinstein who made sure one pork spending bill included a interest-free/don't-have-to-pay-back loan to her husband's bankrupting business was in the 'Jobs' Bill. (Hard working Americans wouldn't mind floating Millionaire Feinstein some of their hard-earned money, right?!)

At the VERY end of Obama's 1st 4 years, the man who had called Bush 'Un-Patriotic' - with the help of his near Super Majority Controlled DNC Congress his 1st 2 years - added nearly 7 (SEVEN) TRILLION in only 4 (FOUR YEARS).

It was damn-near like Barry was TRYING to see if he could DOUBLE Bush's 8 year's worth of spending in his 1st 4 years.

Yeah, that's all part of the documented Obama 'Fairy Tale' Libs always make sure they leave out of their tale about Bush's Spending.

 

[Siete]

LIAR!

LMAO Clueless idiot.

Yes you are. It was Bush who eliminated the down payment, even to those with bad credit!!!

Its was Barney Frank and his cohort who kept telling everyone there wasn't a problem with Fannie Mae. They told that lie all the way up to the collapse of Fannie.

Oh and douchebag has run the country for the last eight years so just who do you think will be blamed when this mystical depression occurs??

Bush is on tape requesting Fannie for 5 million new loans for minority buyers ...

you're an idiot

And your a fool

uh, huh, thats why I provided the tape proving you are an idiot.