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Again no law made banks make Ninja loans, they were driven by the banks because CDOs. Read up.
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I am one oldster who thinks that social security should be changed to benefit the younger citizens. My first move would be to make the retirement age 70, and I'd do it overnight. I've said this several times before here. I'm just not that concerned about what is "fair" and what is not. But I think my generation of boomers, the one that still faced a draft for Vietnam, would be more able to accept a sudden increase in the retirement age than some who come after us who did not face a draft. Entropy of right. This is a ponzi scheme, and somebody is going to get screwed. It is utterly reasonable to ask my generation to carry their share of the burden.
I'd also tie the higher retirement age to increases (or decreases) in longivity. If that had been done in the 30s, we wouldn't be in trouble now.Comment
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Financial Instruments aren't created in a vacuum and bankers didn't suddenly discover derivatives and profit motive in 1999. As you like to say - read up.Originally posted by froot loops View PostComment
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I have read up. It is very evident in my posts. Those are what caused the crash, it is undeniable. It surely wasn't the scourge of minorities owning a house from the community reinvestment act.Originally posted by Hannibal View Post
By the way, I think you'll find a lot of the boom times post WWII for GDP came when you had big housing projects under way. Think 1950s surburbia, MAGA.Comment
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I don't expect you to understand, but lessening the enormous drag on the economy that taxes and regulations cause is tantamount to an increase in productivity. We will see about the 4% growth rate. As I've said several times, I think our growth rate was near or even below zero in the last five years or so. When you consider Obama printed $ 10,000 Billion in new money and held the interest rates at zero for that period, one wonders how he kept the economy down to a growth rate of 1.7%.When Geezer is irrationally exuberant at the Dow every day, ask yourself why the Dow is irrationally exuberant. Structurally nothing in the economy has changed in the last two months. It's not like some great new innovation is going to increase productivity was invented since November.Comment
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Yep good old supply side economics. It didn't work under George W, but it will work now. Just make sure the minorities don't own.Originally posted by Da Geezer View PostComment
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You mean we had economic booms that predate trillion dollar deficits, housing subsidies, and government-sponsored entities buying up shitty loans?Originally posted by froot loops View Post
Who knew?
Thank God the bankers hadn't profit motive or derivatives yet -- this country would be in the friggin' Stone Age otherwise.Last edited by Hannibal; February 28, 2017, 08:15 PM.Comment
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Who said the government wasn't involved in goosing the housing market in 1950s surburbia?Comment
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Here is an article from the sad, failing Wall Street Journal on the rust belt town that can't do without its refugees.
Fallows also wrote about the same town. Sad!Comment
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The good thing about this is that it seems like we're going to actually get a serous and quality debate about manufacturing and jobs. Someone pointed out to me that if the Gordie Howe Bridge gets built there will be top-notch international connectivity to go with four Class 1 railroads and three interstates, all convening at the same spot. No other place in the country has that. Add the ports, if that mode of transport can be revived, and you've got something to offer. And then there's this guy, who coined the term ``emerging markets'', talking up rust-belt capabilities now that automation is the new China. https://www.brookings.edu/events/the...al-innovation/. Dunno if that's just optimism to sell a book, but there's room for something to go on here and the debate has nothing to do with immigrants.Comment
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Bad night for the haters? Nobody rushing to Huff Post to get links trashing of Trump this morning?
Fake News!
Trump rose to challenge and office in speech
Solid performance — far better than expected. It was the first time since he took the office five weeks ago that Trump has showed himself as presidential.
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Trump just delivered the best speech of his political career
Fake News!
He was thoroughly presidential, speaking plainly and yet masterfully in projecting an optimistic vision of the America he aims to build.
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(CNN)
"He became President of the United States in that moment, period," said Jones, after the evening's most emotional point was replayed by CNN's Anderson Cooper.
"That was one of the most extraordinary moments you have ever seen in American politics," Jones added.
Fake News!
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He gave a speech that wasn't utterly horrifying and everyone is jumping for joy. But hey -- I'll take it. Indications that he might learn on the job would be great.
It'll be interesting to see how he reacts to the praise from the broadcasters. Those aren't the people by which one should measure one's self, but he seems to. Maybe they get downgraded from enemy of the state.Comment
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