[QUOTE=TH89;18501132]Despite the popular myth regarding a goldfish's memory, they are actually quite intelligent little creatures and have reasonable memories.[/QUOTE]
that makes a little more sense now
[QUOTE=Alxnotorious;18501166]I wish this thread had a poll...
Anyways, I think we should remember it was under Bush's administration that it began, so I'm placing the blame on the GOP.[/QUOTE]
Because the problem totally couldn't have been developing for years before anybody noticed it.
I blame Greenspan
[editline]05:26AM[/editline]
Wat a tool
[QUOTE=PvtCupcakes;18501175]Because the problem totally couldn't have been developing for years before anybody noticed it.[/QUOTE]
Well we could go back to Regan's "trickle down" theory...another GOP president.
[QUOTE=Alxnotorious;18501199]Well we could go back to Regan's "trickle down" theory...another GOP president.[/QUOTE]
Yeah, thats true. That' why I blame everybody. :v:
[QUOTE=PvtCupcakes;18501213]Yeah, thats true. That' why I blame everybody. :v:[/QUOTE]
I blame you too :buddy:
[QUOTE=PvtCupcakes;18501213]Yeah, thats true. That's why I blame everybody. :v:[/QUOTE]
Whew, okay. I thought you were going to go all conservative on me. :v:
Well yeah, I see where you're coming from. We did have democratic presidents during the period between Regan and now, but during his time in office he gave the country a surplus of cash rather than a deficit.
I blame the wicked Jews and money lenders.
The only time in recent times that the economy has really gone up a lot is under Clinton. I think he just got lucky because neither Conservatives or Democrats really have the brains to actually control the economy effectively.
[QUOTE=HumanAbyss;18501288]The only time in recent times that the economy has really gone up a lot is under Clinton. I think he just got lucky because neither Conservatives or Democrats really have the brains to actually control the economy effectively.[/QUOTE]
Laissez-faire?
[QUOTE=TH89;18501188]I blame Greeman
[editline]05:26AM[/editline]
Wat a tool[/QUOTE]
I blame greeman too
it's actually both parties' fault :smile:
I still blame the banks, the bailed out companies, and the oil companies who are going to take advantage of the whole situation to suck more money out of our pockets.
[QUOTE=Alxnotorious;18501320]Laissez-faire?[/QUOTE]
doesnt work
[QUOTE=Alxnotorious;18501320]Laissez-faire?[/QUOTE]
As already said, Doesn't work.
[QUOTE=HumanAbyss;18501288]The only time in recent times that the economy has really gone up a lot is under Clinton. I think he just got lucky because neither Conservatives or Democrats really have the brains to actually control the economy effectively.[/QUOTE]
One has no desire whatsoever to control the economy and just wants to keep raping everyone for their own profit, and the other is too hopelessly incompetent to actually get the economy under control so this shit doesn't happen again...while not pissing off the companies that provide their campaign funding.
[QUOTE=HumanAbyss;18501288]The only time in recent times that the economy has really gone up a lot is under Clinton. I think he just got lucky because neither Conservatives or Democrats really have the brains to actually control the economy effectively.[/QUOTE]
[url]http://en.wikipedia.org/wiki/Community_Reinvestment_Act[/url]
tldr; Carter and Clinton are 2 of the most contributing factors to the problems we are having now. Enforcing policies to loosen the lending regulations for homes is NOT a good thing. You just end up getting people refusing to pay payments on $300k houses because they only make $50k a year. The people end up filing bankruptcy and the bank NEVER gets their money back.
Pretty much Carter and Clinton pulled a "Shame on your corporations for discriminating against the poor" and then now are pulling a "Shame on you big corporations who loaned to the poor when they couldn't pay back the money."
[QUOTE=lmaoboat;18500941]Maybe it's not anyone's fault but the unpredictable nature of something as dynamic as an economy.
[/QUOTE]
yes because when you come up with the bright idea to take away almost all regulation of corporations and give almost everyone houses and mortgages even if they can't fully pay it off it's completely unpredictable what will happen next.
[QUOTE=SM0K3 B4N4N4;18502895]yes because when you come up with the bright idea to take away almost all regulation of corporations and give almost everyone houses and mortgages even if they can't fully pay it off it's completely unpredictable what will happen next.[/QUOTE]
Umm, I don't know what you are trying to say, but I think you are trying to say that the de-regulation of economic activities leads to corruption of the economy. I think you also tried to use the housing mortgages situation as an example, and it doesn't work out.
1. The housing acts passed by Carter and Clinton [b]regulated[/b] mortgage companies on a federal scale.
2. Businesses wouldn't mindlessly fuck up the economy. In the end, whatever is best for the economy is also best for them; ala they get a continuous supply of money vs a spending boom followed by a recession/depression.
[QUOTE=Ca5bah;18502997]
1. The housing acts passed by Carter and Clinton [b]regulated[/b] mortgage companies on a federal scale.
2. Businesses wouldn't mindlessly fuck up the economy. In the end, whatever is best for the economy is also best for them; ala they get a continuous supply of money vs a spending boom followed by a recession/depression.[/QUOTE]
1. A sourced statement in the CRA wiki claims that most sub-prime lenders weren't regulated by the CRA. just wonder what you think of this
2. bullshit. they do, and they have, and they always will. businessmen are independently minded, they don't think as one collective. what one business owner may do quickly make a profit may hurt everyone (like with the mortgage crisis).
[QUOTE=Conscript;18503073]1. A sourced statement in the CRA wiki claims that most sub-prime lenders weren't regulated by the CRA. just wonder what you think of this
2. bullshit. they do, and they have, and they always will. businessmen are independently minded, they don't think as one collective. what one business owner may do quickly make a profit may hurt everyone (like with the mortgage crisis).[/QUOTE]
Have you ever even taken a SINGLE business class? Fuck, even in Introduction to Business that I took Sophomore year we went over the main goals of a business. 1. Make Money. If you were a businessman looking to prepare yourself for the future, would you A. Collect $100,000 at one time from every citizen, causing them to go bankrupt; or would you B. Collect $500 a year from every citizen.
If you actually know what you are talking about you would pick B. I can gladly assure you that the people who manage corporations base every single business choice off of this (minus Murdoch.)
[QUOTE=Ca5bah;18503353]Have you ever even taken a SINGLE business class? Fuck, even in Introduction to Business that I took Sophomore year we went over the main goals of a business. 1. Make Money. If you were a businessman looking to prepare yourself for the future, would you A. Collect $100,000 at one time from every citizen, causing them to go bankrupt; or would you B. Collect $500 a year from every citizen.[/QUOTE]
[img]http://chenel.files.wordpress.com/2008/05/la-smog.jpg[/img]
[QUOTE=Ca5bah;18503353]Have you ever even taken a SINGLE business class? Fuck, even in Introduction to Business that I took Sophomore year we went over the main goals of a business. 1. Make Money. If you were a businessman looking to prepare yourself for the future, would you A. Collect $100,000 at one time from every citizen, causing them to go bankrupt; or would you B. Collect $500 a year from every citizen.
[/QUOTE]
A, because it means I could make off with an outrageous amount of money and retire to a country without extradition, and with an unregulated market there's nothing to stop me from doing so.
I blame obama even though he was president after recession
Alan Greenspan is the root of the entire thing when he changed the fed interest rate to 1%.
[QUOTE=Nyaos;18504580]Alan Greenspan is the root of the entire thing when he changed the fed interest rate to 1%.[/QUOTE]
For those who don't know who Greenspan is (like me):
[url=http://en.wikipedia.org/wiki/Alan_Greenspan]Alan Greenspan[/url]
[quote=Wiki]In 2000, Alan Greenspan raised interest rates several times; these actions were believed by many to have caused the bursting of the dot-com bubble. [B]In autumn of 2001, as a decisive reaction to September 11 attacks and the various corporate scandals which undermined the economy, the Greenspan-led Federal Reserve initiated a series of interest cuts that brought down the Federal Funds rate to 1% in 2004[/B]. His critics, notably Steve Forbes, attributed [B]the rapid rise in commodity prices and gold to Greenspan's loose monetary policy which is causing excessive asset inflation and a weak dollar[/B]. By late 2004 the price of gold was higher than its 12-year moving average.[/quote]
Jesus, people need to stop blaming political parties and start blaming themselves. I didn't hear a goddamn word when we were paying the Iraqi people 4 billion dollars a week so that way they wouldn't attack our soldiers and to provide them with weaponry.
[QUOTE=Emperor Scorpious II;18500693]I sense a good, bloody thread ahead. Better get the popcorn![/QUOTE]
I just ate a whole bag of popcorn.
But the public are to blame.
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