The Worst Five Years Since the Great Depression

[g5000]

5 years? Obama has just been president for 4.1 years or so.

Well you seem to forget democrats including a junior senator obama have controlled the senate since 2007

It took at least three years for an ARM to blow up.

 

[g5000]

2007 democrats controlled congress. That also includes a junior senator obama.

And which legislation they passed led to a recession?

By refusing to regulate freddie and fannie thank you very much.

The battle over the GSEs was to reduce their portfolios, which was basically an attempt by Bush to reduce their market share in the booming secondary market so Wall Street could get even more of the pie than they already were. The GSEs were less than half the secondary mortgage market by 2006.

At the same time Bush was fighting to force the GSEs to have less market share, his SEC commission was unanimously exempting the five biggest US broker-dealers from capital reserve requirements.

Guess which mistake did the most damage. Not shrinking the GSE portfolios, or exempting the Too Big To Fail Wall Street firms from having cash reserves.

 

[g5000]

Here is what we can determine from the past five years:

The Republicans love poor people. If they didn't, they wouldn't have made so many of them.

The Democrats love poor people. If they didn't, they wouldn't keep so many of them that way.

 

[bigrebnc1775]

Hold that thought.....you ain't seen a real ass kicking yet.

The only ass kicking will be directed at obama from those who use too support him.

If the GOP is stupid enough to run someone you people approve, you will get your ass kickes six ways from nothing. In fact, if the GOP continues to allow the fruitloops to speak as if they are the spokesmen for the party, we may see a Democrat House and Senate, with a filibuster proof majority.

We didn't approve of Romney it was anyone but obama.
That part I blame on the elitist of the GOP.
When we get someone we approve of get the hell out of the way, because you aren't going to stop that train from rolling through.

 

[bigrebnc1775]

Well, this one brings up two obvious questions:

1. When what "all began"? Describe "the beginning" for us.

2. You're actually going to blame the financial meltdown on Obama when he was a junior senator?

Very much looking forward to your responses.

.

The controlled implosion of the economy was too get a democrat in the white house
obama has dirty fingers on this but you're to much the partisan to admit it.

Come on, you can do better than that.

Tell us how the meltdown started, precisely.

Tell us how Obama had a hand in it, precisely.

Since you're not a partisan lol, I'm sure you'll give me the straight scoop.

Come on, educate us.

.

Facts do give you that butt hurt feeling, stop being a partisan and educate your own damn self.

 

[bigrebnc1775]

Here is what we can determine from the past five years:

The Republicans love poor people. If they didn't, they wouldn't have made so many of them.

The Democrats love poor people. If they didn't, they wouldn't keep so many of them that way.

Really dude is that how the fuck you're going too spin it? Republicans created more poor people? Why in the hell are their so god damn many people on welfare now than they were before obama became president?

 

[Mac1958]

The controlled implosion of the economy was too get a democrat in the white house
obama has dirty fingers on this but you're to much the partisan to admit it.

Come on, you can do better than that.

Tell us how the meltdown started, precisely.

Tell us how Obama had a hand in it, precisely.

Since you're not a partisan lol, I'm sure you'll give me the straight scoop.

Come on, educate us.

.

Facts do give you that butt hurt feeling, stop being a partisan and educate your own damn self.

Excellent, as expected, thanks.

Seriously, back away from the radio for a while.



.

 

[bigrebnc1775]

Come on, you can do better than that.

Tell us how the meltdown started, precisely.

Tell us how Obama had a hand in it, precisely.

Since you're not a partisan lol, I'm sure you'll give me the straight scoop.

Come on, educate us.

.

Facts do give you that butt hurt feeling, stop being a partisan and educate your own damn self.

Excellent, as expected, thanks.

Seriously, back away from the radio for a while.



.

Back away from obama's asshole the shit fumes are fucking with what's left of your mind.

 

[g5000]

Here is what we can determine from the past five years:

The Republicans love poor people. If they didn't, they wouldn't have made so many of them.

The Democrats love poor people. If they didn't, they wouldn't keep so many of them that way.

Really dude is that how the fuck you're going too spin it? Republicans created more poor people? Why in the hell are their so god damn many people on welfare now than they were before obama became president?

Observe:

http://www.cbo.gov/sites/default/files/cbofiles/attachments/04-19-SNAP.pdf

The number of people receiving SNAP benefits increased
by almost 50 percent between fiscal years 2001 and 2005
and even more rapidly (by 70 percent) between fiscal
years 2007 and 2011. During that latter period, spending
on SNAP benefits grew by about 135 percent. The
increase in the number of people eligible for and receiving
benefits between 2007 and 2011 has been driven
primarily by the weak economy. That increase was
responsible for about 65 percent of the growth in
spending on benefits between 2007 and 2011. About
20 percent of the growth in spending can be attributed
to temporarily higher benefit amounts enacted in the
American Recovery and Reinvestment Act of 2009
(ARRA). The remainder stemmed from other factors,
such as higher food prices and lower income among beneficiaries,
both of which boost benefits.

So there was a 50 percent increase in Bush's first term. Followed by a 70 percent increase for the period including his second term and the first two years of Obama's first term.

Between 1990 and 2011, the number of SNAP participants
increased during periods of relatively high
unemployment (see Figure 1). Even as the unemployment
rate began to decline from its 1992, 2003, and
2010 peaks, decreases in participation typically lagged
improvement in the economy by several years. For
example, the number of SNAP participants rose steadily
from about 20 million in the fall of 1989 to more than
27 million in April 1994—nearly two years after the
unemployment rate began to fall and a full three years
after the official end of the recession in March 1991. The
number of people receiving SNAP benefits began to
climb again in 2001 and continued to grow until 2006,
more than two years after the unemployment rate began
to decline and well after that recession ended (in November
2001). The number of participants temporarily
leveled off in 2006 and 2007 until the unemployment
rate began to rise sharply in 2008. Participation then
started to grow quickly and has continued to increase
since then.

So we find that is entirely normal for SNAP participation to increase for many years beyond the last recession.

The primary reason
for the increase in the number of participants was the
deep recession from December 2007 to June 2009 and
the subsequent slow recovery; there were no significant
legislative expansions of eligibility for the program during
that time.

Considering the Bush Recession was the greatest crash since the Great Depression, none of these figures being cited for the years following that crash should be the least bit surprising now that we have much more context in which to consider them.

 

[Mac1958]

Facts do give you that butt hurt feeling, stop being a partisan and educate your own damn self.

Excellent, as expected, thanks.

Seriously, back away from the radio for a while.



.

Back away from obama's asshole the shit fumes are fucking with what's left of your mind.

Hey, pssst... I hear that Obama was responsible for 9/11.

You should look into it.

.

 

[g5000]

Obama is the one of the worst people we could have put behind the wheel of the car Bush drove into a ditch.

But face it. It was Bush that drove it into the ditch. He should have repealed the CFMA and the FSMA passed by the GOP Congress under Clinton. He should not have reduced the size of the SEC, and he sure as shit should not have let them remove capital reserve requirements for the Too Big To Fail firms on Wall Street.

Instead, it was cowboy time. Yeeeeeeeeee-haaaaawwwwwwww! Right off a fucking cliff.

 

[Mac1958]

Obama is the one of the worst people we could have put behind the wheel of the car Bush drove into a ditch.

But face it. It was Bush that drove it into the ditch. He should have repealed the CFMA and the FSMA passed by the GOP Congress under Clinton. He should not have reduced the size of the SEC, and he sure as shit should not have let them remove capital reserve requirements for the Too Big To Fail firms on Wall Street.

Instead, it was cowboy time. Yeeeeeeeeee-haaaaawwwwwwww! Right off a fucking cliff.

No way!

See, Bigrebnc1775 says that the Meltdown was Obama's fault, and we all know how honest and knowledgeable he is.

I asked him to describe how this is so, but BigRebnc has opted not to enlighten us with his brilliance, and has instead opted to say high-minded things such as "back away from obama's asshole the shit fumes are fucking with what's left of your mind."

We can only hope that Bigrebnc will change his mind and provide us with the education that we all so clearly need. I'd love to know how Obama had a hand in bringing about the Meltdown, and I'm looking forward to his words of wisdom.

Unless Levin hasn't covered this yet.

.

 

[NoTeaPartyPleez]

I agree

These are the worst five years since the Depression

When does it start? Seems January 2008 is a good starting point. GDP went negative for five quarters, Stock Market lost half its value, employers shedding 750,000 jobs a month. Not many periods like it in the last 75 years

President Obama took office in Jan 2009. He enacted stimulus, TARP, auto bailouts and the Stock Market and GDP reversed. The loss of jobs stopped and has slowly rebounded.

This was a major economic collapse that carried over to the rest of the world

The American People looked at the economy in the last election. The evidently didn't put the blame on the Obama administration. All anyone has to do is ask what Republicans have done over the last five years to help us through these tough times?

Evidently, not enough

The downward spiral started in 1980 with Reagan's "trickle down" lie. Jobs and money went sideways: overseas.

And Donald Regan, Reagan's COS and ex-CEO of Merrill Lynch, implemented the securitization of mortgage loans which started the ball rolling on the dicing, slicing and selling of your paper to foreign investors. And we all know how that story ended.

And sure enough, after the Republicans made a total mess of things and the crash occurred, they did what white men do: they gave it to a black guy to clean up and then take the heat if he couldn't turn the Titanic around in a bathtub.

 

[NoTeaPartyPleez]

Obama is the one of the worst people we could have put behind the wheel of the car Bush drove into a ditch.

Well perhaps if McCain had picked a qualified VP running mate instead of a narcissistic ex-beauty pageant moron from Alaska who thought "O'Biden" was the Democratic nominee....and perhaps if he had not stood in front of the cameras and chanted, "Bomb, bomb, bomb....bomb, bomb Iran" to a nation weary of Iraq and Afghanistan wars....maybe you'd be whining a different tune.

 

[NoTeaPartyPleez]

Excellent, as expected, thanks.

Seriously, back away from the radio for a while.



.

Back away from obama's asshole the shit fumes are fucking with what's left of your mind.

Hey, pssst... I hear that Obama was responsible for 9/11.

You should look into it.

.

They are too busy looking up "proof" that Obama staged the massacre at Sandy Hook Elementary School....

 

[bigrebnc1775]

Obama is the one of the worst people we could have put behind the wheel of the car Bush drove into a ditch.

But face it. It was Bush that drove it into the ditch. He should have repealed the CFMA and the FSMA passed by the GOP Congress under Clinton. He should not have reduced the size of the SEC, and he sure as shit should not have let them remove capital reserve requirements for the Too Big To Fail firms on Wall Street.

Instead, it was cowboy time. Yeeeeeeeeee-haaaaawwwwwwww! Right off a fucking cliff.

No way!

See, Bigrebnc1775 says that the Meltdown was Obama's fault, and we all know how honest and knowledgeable he is.

I asked him to describe how this is so, but BigRebnc has opted not to enlighten us with his brilliance, and has instead opted to say high-minded things such as "back away from obama's asshole the shit fumes are fucking with what's left of your mind."

We can only hope that Bigrebnc will change his mind and provide us with the education that we all so clearly need. I'd love to know how Obama had a hand in bringing about the Meltdown, and I'm looking forward to his words of wisdom.

Unless Levin hasn't covered this yet.

.

No obama benefited from the controlled implosion of the economy just so happens he was a junior senator at the time.

 

[bigrebnc1775]

Excellent, as expected, thanks.

Seriously, back away from the radio for a while.



.

Back away from obama's asshole the shit fumes are fucking with what's left of your mind.

Hey, pssst... I hear that Obama was responsible for 9/11.

You should look into it.

.

9/11?
Benghazi yes

 

[g5000]

No obama benefited from the controlled implosion of the economy just so happens he was a junior senator at the time.

Absolutely. Obama would never have been President if Bush hadn't fucked up so badly. No doubt about it.

Hillary would have been President instead. Maybe McCain.

 

[Mac1958]

Obama is the one of the worst people we could have put behind the wheel of the car Bush drove into a ditch.

But face it. It was Bush that drove it into the ditch. He should have repealed the CFMA and the FSMA passed by the GOP Congress under Clinton. He should not have reduced the size of the SEC, and he sure as shit should not have let them remove capital reserve requirements for the Too Big To Fail firms on Wall Street.

Instead, it was cowboy time. Yeeeeeeeeee-haaaaawwwwwwww! Right off a fucking cliff.

No way!

See, Bigrebnc1775 says that the Meltdown was Obama's fault, and we all know how honest and knowledgeable he is.

I asked him to describe how this is so, but BigRebnc has opted not to enlighten us with his brilliance, and has instead opted to say high-minded things such as "back away from obama's asshole the shit fumes are fucking with what's left of your mind."

We can only hope that Bigrebnc will change his mind and provide us with the education that we all so clearly need. I'd love to know how Obama had a hand in bringing about the Meltdown, and I'm looking forward to his words of wisdom.

Unless Levin hasn't covered this yet.

.

No obama benefited from the controlled implosion of the economy just so happens he was a junior senator at the time.

Okay, so you've changed your story. So Obama didn't have a hand in the Meltdown, he's just "benefiting" <?> from it. In the future, perhaps you can warn us when you're lying so that we don't have to chase you down to get you to admit it.

So, describe for us the following:

1. How this was a "controlled implosion"
2. Who is responsible
3. When the conspiracy to do this began

Details, details please. This is very educational. Thanks!

.

 

[bigrebnc1775]

No way!

See, Bigrebnc1775 says that the Meltdown was Obama's fault, and we all know how honest and knowledgeable he is.

I asked him to describe how this is so, but BigRebnc has opted not to enlighten us with his brilliance, and has instead opted to say high-minded things such as "back away from obama's asshole the shit fumes are fucking with what's left of your mind."

We can only hope that Bigrebnc will change his mind and provide us with the education that we all so clearly need. I'd love to know how Obama had a hand in bringing about the Meltdown, and I'm looking forward to his words of wisdom.

Unless Levin hasn't covered this yet.

.

No obama benefited from the controlled implosion of the economy just so happens he was a junior senator at the time.

Okay, so you've changed your story. So Obama didn't have a hand in the Meltdown, he's just "benefiting" <?> from it. In the future, perhaps you can warn us when you're lying so that we don't have to chase you down to get you to admit it.

So, describe for us the following:

1. How this was a "controlled implosion"
2. Who is responsible
3. When the conspiracy to do this began

Details, details please. This is very educational. Thanks!

.

No I haven't changed anything I said in an earlier post the implosion of the economy was intentional and who was in control of the house and senate that would benefit from it?