This sums it up pretty well

Desh said:
yeah that will get them working and paying taxes. Let them drown.
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Yup-- because if they don't work and pay taxes, then they won't have that safety net to fall back on-- which means we won't have to worry about them, either way.

I've never understood why you leftists seem to think getting a job is so difficult, like it has to be spoon-fed to a person.
 
[/QUOTE]So by your definition.... the tech bubble bursting is because of Clinton since it came on his watch.[/QUOTE]

Tell me what legislation could have stopped the tech boom from building as it did?

They could have changed the the laws on writing these loans and or how they are packaged. They could have stopped the consolidations of the industry.Who could have done this? Oh the people with the power to legislate. The Dems were pretty much shut out of that process and when they talked of these problems to try and spur action on them they were called fools and whiners by people like you.

If this had happen in a period when they Dems had control of all the levels of goivernment I have no doubt where you would be laying the blame. They had control for two whole years back in the 90s and you wont even giver them credit for the good they did in that time.
 
gonzojournals said:
Yup-- because if they don't work and pay taxes, then they won't have that safety net to fall back on-- which means we won't have to worry about them, either way.

I've never understood why you leftists seem to think getting a job is so difficult, like it has to be spoon-fed to a person.
Click to expand...

They will be a drag on the economy even if you dont help them. It is a good investment to try to bring as many as possible into the work force. You just think its bad ass to talk that way. Its more than bad ass its stupid policy.
 
So by your definition.... the tech bubble bursting is because of Clinton since it came on his watch.[/QUOTE]

Tell me what legislation could have stopped the tech boom from building as it did?

They could have changed the the laws on writing these loans and or how they are packaged. They could have stopped the consolidations of the industry.Who could have done this? Oh the people with the power to legislate. The Dems were pretty much shut out of that process and when they talked of these problems to try and spur action on them they were called fools and whiners by people like you.

If this had happen in a period when they Dems had control of all the levels of goivernment I have no doubt where you would be laying the blame. They had control for two whole years back in the 90s and you wont even giver them credit for the good they did in that time.[/QUOTE]

a good portion of the "tech boom" was the preparation for Y2K.
that was destined to slump when it was done.
 
Desh said:
They will be a drag on the economy even if you dont help them. It is a good investment to try to bring as many as possible into the work force. You just think its bad ass to talk that way. Its more than bad ass its stupid policy.
Click to expand...

People having to eat will bring them into the work force...please tell me, though, how that is a drag on the economy-- what aspect of the economy will be affected by the lazies that just lost their crutch?
 
So by your definition.... the tech bubble bursting is because of Clinton since it came on his watch.[/QUOTE]

Tell me what legislation could have stopped the tech boom from building as it did?

They could have changed the the laws on writing these loans and or how they are packaged. They could have stopped the consolidations of the industry.Who could have done this? Oh the people with the power to legislate. The Dems were pretty much shut out of that process and when they talked of these problems to try and spur action on them they were called fools and whiners by people like you.

If this had happen in a period when they Dems had control of all the levels of goivernment I have no doubt where you would be laying the blame. They had control for two whole years back in the 90s and you wont even giver them credit for the good they did in that time.[/QUOTE]


Well gee golly Desh, you could have had legislation that prevented the fraud in the late 90's within the telecom sector. Why didn't Clinton protect us Desh? Why was he so inept?

It was on HIS watch. Thus, by your standards, it was all his fault. As was the fraud that occured at Enron.

(and for those just tuning in to this thread, no, I do not really believe the recession was due to Clinton or any politician for that matter. I am simply using Desh's idiotic logic against her.)
 
uscitizen said:
So by your definition.... the tech bubble bursting is because of Clinton since it came on his watch.
Click to expand...

Tell me what legislation could have stopped the tech boom from building as it did?

They could have changed the the laws on writing these loans and or how they are packaged. They could have stopped the consolidations of the industry.Who could have done this? Oh the people with the power to legislate. The Dems were pretty much shut out of that process and when they talked of these problems to try and spur action on them they were called fools and whiners by people like you.

If this had happen in a period when they Dems had control of all the levels of goivernment I have no doubt where you would be laying the blame. They had control for two whole years back in the 90s and you wont even giver them credit for the good they did in that time.[/QUOTE]

a good portion of the "tech boom" was the preparation for Y2K.
that was destined to slump when it was done.[/QUOTE]


What a load of crap. You must be kidding. CLINTON signed the god damn bill that escalated it. It began with the first Bush, Clinton continued the downhill slide, as did Bush jr.

Tell me which politicians were campaigning on this issue in 2002 or 2004 or 2006. There was no major outcry from the Dems. They did nothing because, like the Reps, they were championing the "more people own homes" line of crap.

Only a complete partisan hack would try to put the political portion of the blame on one party or the other. They both screwed us.
 
The tech boom was pretty much a normal thing, the junk loan industry and housing boom was artificially pushed to increase profits in the finiancial and home condtruction industry.
 
Superfreak said:
I disagree. The lack of regulation was the part he was correct about. It was the systematic elimination of Glass Steagall that allowed the situation to become as bad as it is.
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I agree with you.

One of the aspects of this that disturbs me - homeowners began to speculate on their personal residences in the same manner as real estate investors.

People took their equity and literally ate it.
 
uscitizen said:
The tech boom was pretty much a normal thing, the junk loan industry and housing boom was artificially pushed to increase profits in the finiancial and home condtruction industry.
Click to expand...

Stop.

Think.

A bubble is created when valuations are pushed to artificial highs. Whether it be tech/telecom or housing.

You are also fooling yourself if you think the housing bubble was created solely by the financial and home builders. It takes BUYERS to drive up prices. That is why both LENDERS and BORROWERS are to blame for the bubble. Everyone saw the low interest rates and instead of buying what they could afford on a 30 year fixed, they bought MORE than they could afford with an I-only or ARM.... and the lenders LET them.

No matter how you try to spin things. NOTHING changes that. Unless of course you believe that Americans are too ignorant to understand simple mathematics.


wait for it....

US will post...."well half the country voted for Bush twice" in response to the last comment.
 
Cypress said:
Who on this board has been saying for at least three years, that predatory lending and subprime lending needs to be reigned in and regulated. My recollection is that it was Desh, USC and other democrats.

Who on this board was advocating letting the free market handle it, and dismissing the oncoming crises by saying that stupid people deserve to get burned? I think it was you and fellow bush voters.
Click to expand...

I've been saying this for pretty close to five years, primarily on the defunct Netscape board that some of us come from in the way back.
 
Superfreak said:
Stop.

Think.

A bubble is created when valuations are pushed to artificial highs. Whether it be tech/telecom or housing.

You are also fooling yourself if you think the housing bubble was created solely by the financial and home builders. It takes BUYERS to drive up prices. That is why both LENDERS and BORROWERS are to blame for the bubble. Everyone saw the low interest rates and instead of buying what they could afford on a 30 year fixed, they bought MORE than they could afford with an I-only or ARM.... and the lenders LET them.

No matter how you try to spin things. NOTHING changes that. Unless of course you believe that Americans are too ignorant to understand simple mathematics.


wait for it....

US will post...."well half the country voted for Bush twice" in response to the last comment.
Click to expand...

Incorrect not all the people int the country vote.
 
Desh said:
If the lenders had not been making loans they should have not approved it would have never reached this breaking point.

There are those who say its the consumers fault for being stupid. I dont agree with this because if you tried to run an economy where the consumer would have to get a degree in realestate law before they were edcucated well enough to buy a home safely you would have a pretty shitty economy.
Click to expand...
It wasn't stupidity, but greed.
 
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