Who caused this DEPRESSION Bush or Obama

Who caused this DEPRESSION Bush or Obama

PostBy: Brian On: Wed Feb 17, 2010 8:00 pm

The goverment is not being completely squeekey kleen with the masses. Unemployment 10% they are not telling you about the people who exausted there benefits ending 12-31-09. Talking about tens of thousands unemployed. Housing market crash. Cheap housing but who could afford to buy. Don't sell your GUNS!!
Brian
 
Stove/Furnace Make: Alaska Kodiac

Re: Who caused this DEPRESSION Bush or Obama

PostBy: JohnMck On: Sat Feb 20, 2010 7:49 am

The liberals, under the Community Reinvestment Act, forced banks and lenders to back Sub Prime mortgages, to people who could never pay them
. These were sold as bundled securities,by firms like Bear-Sterns and Lehman Brothers, which became worthless when the people getting these mortgages defaulted.
I remember watching Bill Clinton and Barney Frank, years ago, touting the CRA as a way to promote home ownership among minorities. This fueled the housing market, and caused the housing bubble, that has since collapsed.The signs were all there, but the Democrats running Congress for the last two years of the Bush Administration, refused to take any action.
Once again, government intervention in private markets caused all this trouble.
That's the way I see it.


Oh, wait, I'm supposed to say that it's all George Bush's fault.
JohnMck
 

Re: Who caused this DEPRESSION Bush or Obama

PostBy: Black_And_Blue On: Sat Feb 20, 2010 8:49 am

Brian wrote:......Don't sell your GUNS!!


Agreed.

A lot of people aren't paying attention or choose to remain blissful. Some of it is understandable as the governments continue to lie to it's citizens but there has been plenty of warnings for those who care to look. As the bankruptcies pile up we will see additional violence as people are faced with the realities.

Another depression in this country would be unlike the last one, whole generations have become morally corrupt and have been immersed in the entitlement belief system. They know of nothing else.

For certain the systemic looters who's lifetime has been spent on the dole will lash out, reference New Orleans 2005. We've recently seen a teacher resort to murder because she was denied tenure. A man flew his airplane into a government building because he felt wronged. Another bulldozed his house rather than have the bank foreclose on it. The latter examples all happened in the last week.

Now, take a moment and stare into the abyss.

Our society is a thin veneer, as the shallow layers are removed, we will rapidly find out what lies beneath.

"It's only when the tide goes out that you discover who has been swimming naked."
-Warren Buffett
Black_And_Blue
 
Hot Air Coal Stoker Stove: Alaska 140


Re: Who caused this DEPRESSION Bush or Obama

PostBy: jpete On: Sat Feb 20, 2010 9:41 am

Fiat money and fractional reserve banking.

Keynesian economics.

Those things know no party or generation.

Blaming R's or D's or this administration or another, doesn't get to the root of the problem.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Who caused this DEPRESSION Bush or Obama

PostBy: Hambden Bob On: Sat Feb 20, 2010 9:50 am

I'm figurin' it was Sherri Lewis and Lambchop ! Once they got ahold of us on TV,they developed a classic pincer movement with Dr. Spock when he wrote that baby book. That greased the skids,and down we went. :shock:
Hambden Bob
 
Hot Air Coal Stoker Stove: Harman 1998 Magnum Stoker
Coal Size/Type: Rice-A-Roni !

Re: Who caused this DEPRESSION Bush or Obama

PostBy: freetown fred On: Sat Feb 20, 2010 9:56 am

I hate to be the resident pr_ ck,but,friends,we,you & I & the generations pre Vietnam till present-have caused the mess we are in today--Don't get me wrong--most of our politicians--left,right,where-ever in MY opinion have been & are currently useless--I'm so sick of hearing people flapping their gums together trying to place blame--I think I've acquired Tinnitus--I see alot of up & down,but not much foward :( :? Do I have a solution???No quick fixes--I've said it before,all I can do is keep my own back yard cleaned up,my Town & my State--now there's a brick wall--it strikes me that whoever can Bullpoop most sincerely tends to win---Do we the working grunts have a long road ahead of us??You betcha----we have to stay involved--& that is defined individualy
freetown fred
 
Hand Fed Coal Stove: HITZER 50-93
Coal Size/Type: BLASCHAK Nut/Stove mix

Re: Who caused this DEPRESSION Bush or Obama

PostBy: samhill On: Sat Feb 20, 2010 10:11 am

I got to agree with you on that fred, we have become a nation of its all about me who want for everything & want it now. It will be interesring to see how it all plays out. I`m afraid sad but interesting.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: Who caused this DEPRESSION Bush or Obama

PostBy: Dann757 On: Sat Feb 20, 2010 11:42 am

In every country where man is free to think and to speak, differences of opinion will arise from difference of perception, and the imperfection of reason; but these differences when permitted, as in this happy country, to purify themselves by free discussion, are but as passing clouds overspreading our land transiently and leaving our horizon more bright and serene. - Thomas Jefferson to Benjamin Waring, 1801.



I hope so..
Dann757
 

Re: Who caused this DEPRESSION Bush or Obama

PostBy: KLook On: Sat Feb 20, 2010 12:32 pm

I agree with the above post that there is some uglyness to come. Our success has been bought with credit and the due date is here. One of the benefits of living far from the cities and being conservative by nature, is that I can make it through, no matter what happens. I would rather it not come to that however. Nice qoute by the way Dan.

kevin
KLook
 
Stoker Coal Boiler: Harman VF 3000
Coal Size/Type: rice, bagged, Blaschak
Stove/Furnace Make: Harman (Back In Maine)
Stove/Furnace Model: VF 3000

Re: Who caused this DEPRESSION Bush or Obama

PostBy: mwcougar On: Sat Feb 20, 2010 12:41 pm

just keep drinking the kool-aid....folks.. its what they both want.....
mwcougar
 
Stove/Furnace Make: ahs 130 heating 3700sq ft

Re: Who caused this DEPRESSION Bush or Obama

PostBy: mikeandgerry On: Sat Feb 20, 2010 2:34 pm

JohnMck wrote:The liberals, under the Community Reinvestment Act, forced banks and lenders to back Sub Prime mortgages, to people who could never pay them
. These were sold as bundled securities,by firms like Bear-Sterns and Lehman Brothers, which became worthless when the people getting these mortgages defaulted.
I remember watching Bill Clinton and Barney Frank, years ago, touting the CRA as a way to promote home ownership among minorities. This fueled the housing market, and caused the housing bubble, that has since collapsed.The signs were all there, but the Democrats running Congress for the last two years of the Bush Administration, refused to take any action.
Once again, government intervention in private markets caused all this trouble.
That's the way I see it.


Bingo, we have a winner! Nice post. Add to that the demonic creation of credit default swaps (derivatives) to the mix and you have a toxic financial system. But that only explains the current depression.

Most of the stage was set about one hundred years ago when two legislative events occurred that 1) allowed the bankers to govern money creation while 2) the federal government was allowed to tax incomes without limit. Those laws, the 17th amendment and the Federal Reserve Act enabled the US to expand and manage our burgeoning economy and fiscal needs but they also planted the seeds for political manipulation by both parties which led to our current state of affairs.

Essentially, the US was an economic boom town and those laws enabled the pols to keep the party going for about 50 years longer than it should have by nature.
mikeandgerry
 
Stoker Coal Boiler: Axeman-Anderson Anthratube 130-M

Re: Who caused this DEPRESSION Bush or Obama

PostBy: jpete On: Sat Feb 20, 2010 5:45 pm

So it's ONLY the democrats fault?

That's dishonest.

I seem to recall GWB crowing about the highest percentage of home ownership in history when he was on the campaign trail.

It's not like the D's pulled a fast one. The R's were complicit because it met their re election goals.

And the root cause is still fiat money and fractional reserve banking. In a word, Keynesianism.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Who caused this DEPRESSION Bush or Obama

PostBy: freetown fred On: Sat Feb 20, 2010 10:17 pm

Jeff,I'm trying to stay in this--what the hell is keynesianism????Remember,I just farm out here :)
freetown fred
 
Hand Fed Coal Stove: HITZER 50-93
Coal Size/Type: BLASCHAK Nut/Stove mix

Re: Who caused this DEPRESSION Bush or Obama

PostBy: jpete On: Sat Feb 20, 2010 11:59 pm

http://en.wikipedia.org/wiki/John_Maynard_Keynes

He is the economist that much(all) of the worlds economies are based on.

Long story short, he believed that if the government would just spend ENOUGH money, the economy would prosper.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Who caused this DEPRESSION Bush or Obama

PostBy: LsFarm On: Sun Feb 21, 2010 12:28 am

Lets not forget that both GWB and Senator McCain put bills before the senate [google Senate bill S103], Where the democratic whiz kid, the infamous Barney Franks made sure that the democratic controled congress didn't give it the time of day..

And Barney's infamous statement: 'Fannie Mae and Freddie Mac are not broke.. we don't need to fix them'

So lets see, Democrat Jimmy Carter started it with trying to make mortgages easier to aquire with poorer credit.. but the banks didn't respond
So next comes Billy Clinton who with his pet dog Attorney General Janet Reno, put teeth in Jimmy's bill, and MADE the banks issue poor loans..
And next, Fannie Mae and Freddie Mac buy the bad loans.

The Republicans GWB and Senator McCain try to get legislation to reverse or at least reduce the potential damage, and get voted down by the Democrats.

And then the bubble breaks.. and It's all GWB's fault. Of course.

Greg L
LsFarm
 
Stoker Coal Boiler: Axeman Anderson 260
Hand Fed Coal Boiler: Self-built 'Big Bertha' SS Boiler
Baseburners & Antiques: Keystone 11, Art Garland