Glenn Beck and Goldline

[Cerise]

LOL! Of course you would rely on a chart from Pelosi's office.


Since the Democrats have been in charge of both the senate and the house, the housing market has collapsed, the banks have collapsed, Fannie and Freddie have collapsed, the auto industry has collapsed.

0bama continues to blame his inability to handle the economy on what he "inherited," and the unemployment rate that his admin promised his $3.27 stimulus package would hold down below 8% is currently at 9.5%.

The average unemployment rate under Bush was only 5.2%.

0bama and Co. have jacked it up to 9.4%

I ask again: where do the dems get their nerve?

From the Dept. of Labor:

 

[spike]

LOL! Of course you would rely on a chart from Pelosi's office.

It illustrates nicely how the Bush administration was shedding jobs and how the trend has been reversing.

Here's some more you might like:

http://i459.photobucket.com/albums/qq311/santafemarie/USDGP.png

http://i32.photobucket.com/albums/d11/skippybkroo/DJIA_since_92008.jpg

http://4.bp.blogspot.com/_Zh1bveXc8rA/S8cW4-njIRI/AAAAAAAABGo/A0Z7DWoJQfk/s1600/Clipboard01.bmp

Since Bush was in charge the housing market has collapsed, the banks have collapsed, Fannie and Freddie have collapsed, the auto industry has collapsed.

Yes, Bush really fucked things up bad.

0bama continues to blame his inability to handle the economy on what he "inherited,"

Yes, he inherited some crazy shit. But as you can see from the graphs he's handling it pretty well.

The average unemployment rate under Bush was only 5.2%.

Yeah, he really jacked it up there at the end huh?

I ask again: where do the dems get their nerve?

You should be wondering where the Reps get their nerve.

"President Bush, once taking account how long he’s been in office, shows the worst track record for job creation since the government began keeping records."

http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/


"Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration."

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/11/AR2009011102301.html

"While Bush was in office, the median household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance spiked."

http://www.theatlantic.com/politics/archive/2009/09/closing-the-book-on-the-bush-legacy/26402/

 

[Cerise]

Please link your images.

 

[spike]

Linked

 

[Cerise]

Photobucket doesn't really mean anything. Hows about an original link that the image came from? I would like to read the accompanying story.

 

[jimpeel]

LOLZ - tell me another one! That one was a doozie!

Franklin Raines - Democrat

Jamie Gorelick - Democrat

Barney Frank - Democrat

Christopher Dodd - Democrat

Arthur Davis - Democrat

Clay Lacy - Democrat

Maxine Waters - Democrat

Gregory Meeks - Democrat

All of these representatives were saying that there was nothing wrong at Freddie and Fannie. They all attacked the OFHEO regulator as being the problem.

Then there is the problem with the guy who started all of this in the first place and that is :

Barack Obama - Democrat

Obama represented A.C.O.R.N. in their lawsuit against CitiBank to force them to make loans to people who could not afford them. That is when we got the sub prime market. It was created to satisfy the law that forced banks to make loans to these people under the guise of everyone being able to achieve the American dream of home ownership.

Look up the "Community Reinvestment Act".

That was the law under which Obama and A.C.O.R.N. forced the banks to make bad loans. That law was passed by Jimmy Carter and the Democrats.

Remember the big brouhaha over "redlining"? Well that was what this was about. The accusation was that the banks would not make loans to people in poor neighborhoods. The banks said that they would not be able to pay the loans back as they were too poor. Obama and A.C.O.R.N. forced them to make those loans and we are all now living the result.

Affordable housing my ass!

The Republicans were begging for more regulation to try to rein in Freddie and Fannie. This was in 2003. The democrats would have none of it then yet look at how much regulation they want now. Yet even now, the regulation bill they just passed DOES NOT INCLUDE FREDDIE OR FANNIE!

Look up the "Housing Enterprise Regulatory Act of 2005".

Ed Royce - Republican

Christopher Shays - Republican

Don Manzullo - Republican

John McCain - Republican

George Bush - Republican

You need to watch these people in their own words and their own voice.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

At the end of this piece listen to what Bill Clinton has to say about the efforts of the Republicans and the stonewalling of the Democrats. Even he knows the truth.

Here is the timeline:

http://www.youtube.com/watch?v=cMnSp4qEXNM

Here is an even better timeline and explanation:

http://www.youtube.com/watch?v=1RZVw3no2A4

Even Archie Bunker saw what was coming. Why can't you see it now that it's here?

http://www.youtube.com/watch?v=7fqCS7Y_kME

 

[jimpeel]

Check your options. I think you must have "don't show me any facts that would shatter my preconceived ideas" checked.

Ha! Now that was funny. Made me laugh.

 

[spike]

Then there is the problem with the guy who started all of this in the first place and that is :

Barack Obama - Democrat

Obama represented A.C.O.R.N. in their lawsuit against CitiBank to force them to make loans to people who could not afford them. That is when we got the sub prime market. It was created to satisfy the law that forced banks to make loans to these people under the guise of everyone being able to achieve the American dream of home ownership.

This is a common republican myth. They want to blame the housing crisis on "people who could not afford them".

Biggest Defaulters on Mortgages Are the Rich

Trying to blame it on Obama is completely dishonest.

 

[spike]

Photobucket doesn't really mean anything. Hows about an original link that the image came from? I would like to read the accompanying story.

It's just data in graph form. I did link you to several stories though.

 

[Gonz]

LOLZ - tell me another one! That one was a doozie!

Jan 1, 2006, Congress & the Senate are both held by a majority in the Democrat Party.

 

[jimpeel]

This is a common republican myth. They want to blame the housing crisis on "people who could not afford them".

Biggest Defaulters on Mortgages Are the Rich

Trying to blame it on Obama is completely dishonest.

Untrue. We blame the people who forced the banks to make loans to "people who could not afford them". The "people who could not afford them" were merely pawns in the democrat politician's game.

 

[spike]

Are you trying to ignore the fact that the "people that can't afford them" aren't the biggest defaulters on mortgages or something?

 

[Cerise]

Welcome to 0bozo's "summer of recovery":

Friday, forecasters expect the Labor Department to report the economy shed 70 thousand jobs in July and unemployment rose to 9.6 percent.

Economists expect the private sector created about 100 thousand jobs but government employment fell 170 thousand, as more temporary census jobs disappeared.

Thirteen months into recovery from a deep recession, this is disappointing. The economy must add 13 million private sector jobs by the end of 2013 to bring unemployment down to 6 percent. President Obama's policies are not creating conditions for businesses to hire those 320,000 workers each month, net of layoffs.

Prior to the crisis in 2007, President Bush spent 19.6 percent of GDP and the deficit was $161 billion in 2007; whereas two years into the economic recovery in 2011, President Obama's budget projects outlays at 25.1 percent of GDP and a $1.3 trillion deficit in 2011.

All that spending will require higher taxes, and raising taxes on families earning $250,000 simply won't be enough finance it. And, higher rates for those families will raise taxes on half the income earned by proprietorships-those small and medium sized businesses will invest less to create jobs.

Much of the $787 stimulus money was squandered on pet projects that created few jobs. For example, grants to build green buildings displace other planned construction and don't increase the amount of commercial space rented or built over the next several years.

Bush deficit: $161B
0bama deficit by 2011: $1.3 TRILLION

 

[jimpeel]

Are you trying to ignore the fact that the "people that can't afford them" aren't the biggest defaulters on mortgages or something?

You cite the high numbers of upper middle class people losing their homes but you ignore the fact that they are the ones losing the high paying jobs. They are also mortgaged to the hilt on high end housing so it is natural that they are losing their homes in vast numbers.

This still does not negate the fact that it was the Democrats who authored, passed, and signed the Community Reinvestment Act and it was a Democrat, Barack Obama, who forced the banks to make bad loans through the A.C.O.R.N. lawsuit against Citibank.

The history of the mess is written in stone and you can't just wish it into the cornfield.

Also, your article did not mention who were the biggest defaulters. No group was cited as being more than any other.

Isn't it simple logic that ALL of those who are defaulting are "people that can't afford them" any more?

 

[spike]

You cite the high numbers of upper middle class people losing their homes but you ignore the fact that they are the ones losing the high paying jobs. They are also mortgaged to the hilt on high end housing so it is natural that they are losing their homes in vast numbers.

If you read the article you would see that many of the rich are walking away from homes because they

This still does not negate the fact that it was the Democrats who authored, passed, and signed the Community Reinvestment Act and it was a Democrat, Barack Obama, who forced the banks to make bad loans through the A.C.O.R.N. lawsuit against Citibank.

"The law, however, emphasizes that an institution's CRA activities should be undertaken in a safe and sound manner, and does not require institutions to make high-risk loans that may bring losses to the institution."

"Responding to concerns that the CRA would lower bank profitability, a 1997 research paper by economists at the Federal Reserve found that "[CRA] lenders active in lower-income neighborhoods and with lower-income borrowers appear to be as profitable as other mortgage-oriented commercial banks".

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Controversies_and_criticisms

The history of the mess is written in stone and you can't just wish it into the cornfield.

Exactly, that's why I'm posting the facts.

Also, your article did not mention who were the biggest defaulters. No group was cited as being more than any other.

It's right in the title.

Isn't it simple logic that ALL of those who are defaulting are "people that can't afford them" any more?

No, many of the rich are just walking away because it was a bad investment. Bought a house for $2 million that's only worth $1 million? Fuck it, walk away.

This is also mentioned in the article.

 

[jimpeel]

If you read the article you would see that many of the rich are walking away from homes because they

want to cut their loses. There, I finished it for you.

"The law, however, emphasizes that an institution's CRA activities should be undertaken in a safe and sound manner, and does not require institutions to make high-risk loans that may bring losses to the institution."

"Responding to concerns that the CRA would lower bank profitability, a 1997 research paper by economists at the Federal Reserve found that "[CRA] lenders active in lower-income neighborhoods and with lower-income borrowers appear to be as profitable as other mortgage-oriented commercial banks".

Obama and A.C.O.R.N. changed all of that. They can project the future effects of legislation all they want. Then reality raises its ugly head.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Controversies_and_criticisms

Exactly, that's why I'm posting the facts.

So am I.

It's right in the title.

You confuse most wealth with the most prevalent. You would have to admit that there are more wealthy people than lower income people and that skewers your side's lament for the poor.

No, many of the rich are just walking away because it was a bad investment. Bought a house for $2 million that's only worth $1 million? Fuck it, walk away.

Again, they are cutting their loses ...

This is also mentioned in the article.

because they can't afford to keep losing money by throwing good money after bad.

 

[spike]

want to cut their loses. There, I finished it for you.

That's kinda what I said.

Obama and A.C.O.R.N. changed all of that. They can project the future effects of legislation all they want. Then reality raises its ugly head.

http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Controversies_and_criticisms

Read that already. Didn't support your point.

You confuse most wealth with the most prevalent.

You're not reading the article still.


"More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent."

You would have to admit that there are more wealthy people than lower income people

LOL!

Again, they are cutting their loses ...

Again kinda what I said. So this is clearly not a bank being forced to lend to these rich people who can't afford their house.

because they can't afford to keep losing money by throwing good money after bad.

Oh, they could probably afford it. It's just not a good investment so they don't honor their contract.

 

[valkyrie]

Radio personality endorsement is a common marketing strategy. This is a good example:
Personal endorsement spot radio is an effective way to reach consumers

Goldline picked Glenn Beck and threw money at him. This has been a profitable arrangement for both. Did anyone know who Glenn Beck was before Goldline backed him? Probably not. I know I had never heard of him, then a few months ago there were billboards all over exclaiming "Beck is better" (better what? I didn't know and I didn't care) as well as billboards for buying gold coins.

In fact, you can buy gold coins from a reputable dealer and not spend the 42% added costs.

 

[catocom]

Glenn Beck is a Hero!

 

[spike]

Very heroic of him to rip off his viewers in this gold scheme.