This is a national bi-partisan problem that is still threatening our way of life and the health of our economy. Whatever the cause....and there appear to be several.....on both political sides as long been debated here.....it is an unprecedented crisis in the housing industry. New housing starts at the lowest level.....ever? http://www.msnbc.msn.com/id/42881365/ns/business-personal_finance Nothing has seemed to work to get this turned around and now the new total of foresclosures in the 4 years of the crisis could top 8 million with another 14 million underwater on their mortgages? At an average of 4 per household that is 88 million Americans......88 million Republicans and Dems alike in the same sinking boat. That is not to mention the other 10-20 million homeowners ( my guess ) of people like me that just gave up and sold their homes at a loss or for no equity gains when relocation was the only option in the Great Recession that we are still wrestling with.
Because the problem has not been solved. Banks are still being threatened by the feds to lend money to people who can't pay it back while Fannie Mae and Freddie Mac went untouched in the "reforms" of Bawney Fwank...
Why hasn't your President fixed this and also while he's at it fixed the price of gas as well? Do you think he's owned by Big Oil and Big Banking?
Probably because of the extent of the calamity handed to him by the GOP Congress and Bush... :wink: A mess that big takes time.
So Hope and Change is ******** AND SAME OLD, SAME OLD. But the good news is that we pissed away almost a trillion dollars on an "economic stimulus" porker that did nothing but keep government workers on the job so that they could continue to contribute to Democratic candidates.
Put it this way.....the stock market has recovered and while the economy isn't humming along briskly it is out of recession and growing steadily. Were it not for the housing market and fuel prices the economy would probably be booming. Additionally....without those steps taken by Obama who knows for sure that the economy wouldn't still be stuck at the bottom of the pit where Bush left it. 8)
:? Think you may be confused Bush may have been president but the congress and Senate where democrates. I worked for the worlds largest bank who bought a lot of Bad mortgages that should have never been allowed to happen thanks to Frannie and Freddie who decided everyone should have a home whether or not they could afford it. or even qualified fr it. I know the bank had a 6 week stoppage of foreclosures but they are moving forward as of this week. this even after the owners were offered modifications at half the payments and lower int rate.When are you going to stop blamming Bush for the Housing issue . anyone who can read or even listen knew it all started w. frannie and freddie giving away their loans to anyone who applied credit worthy or not start looking at the real issue Barnie Frank and his crew they are lame idiots who really dont care about those who work hard and struggle to make things work. they want to give it all away to those who sit back and say gimmie gimmie gimmie. I for one am tired of those who do nothing but expect everything. I think Dave you need to stop Blamming Bush and start looking at the real world. the bush thing is getting old.
I do stand corrected....thank you. The GOP had control of Congress for the first six years of the Bush presidency and they all stood helpless as Frank and the Democrats allowed our housing and mortgage industry to implode upon itself in the years 2000 thru 2006. Helpless.....or was it inattentive......or in cahoots with the banks?
Unemployment is just awful. In fact if you took into account early retirees and those that have given up, it's really much worse. Millions of jobs have been lost in the past 2 1/2 years. Housing market just sucks. States are teetering on the brink of bankruptcy. The stock market is recovering because financials have stablized, oil stocks are soaring, auto companies have cut out insane union contracts through chapt. 11 and companies that have laid off millions of employees have not cut cost enough that they can return to making profits.
Priceless.....don't forget the black helicopters. I'm really curious as to how that one was supposed to work? :roll:
Ah, and let's not forget the Consumer Price Index. They keep changing the index. I read today that if it was calculated the way it was 20 years ago it would be over 10%. Don't know if that's true, but if it is...Hello again, double digit inflation.
No black helicopter conspiracy theory BT but there are those on Wall Street that benefitted greatly from what went down in those first 6 years of the Bush presidency and last time I checked I believe Wall Streeters cozy up more... or vice versa... with the GOP more so than the Dem side. Again....as I stated in the first post......there are those on both sides of the middle that allowed.....perhaps fostered this mess. But as usual even though I made that statement it quickly becomes a pissing match anyway. It seems as if every Republican feels like if they just get things back to the way it was when W left office everything will be fine. That is not reality.....not acknowledging the mess that existed at the time Bush left office.
It seems as if every Democrat feels that Obama has an unlimited amount of time to flounder around getting nowhere. He was elected to fix the economy. He hasn't. He isn't close. His only solutions pissing away trillions in a phony "stimulus" bill (to keep unemployment below 8%) and a health care system that is economic suicide is patheticly ineffective. He's an idealogue with no practical experience in running a governement. He's doled out as much of the treasury and future income as he possible could and now wants to fund the mess and more with as much money as he can grab from successful Americans. He's spent all the eggs and now wants to kill the golden goose.
The stock market and economy have been trending upward with the stock market doing well and the economy lagging. But the economy was dealt a staggering blow before Obama took office.....a Depression like blow. It's a lot to expect that kind of damage can be undone in two years.
Stick with the black helicopters, it's more plausible...... Explain to me again how "Wall Street" and Bush benefited from the collapse of the housing industry, the subsequent default of billions and billions of real estate-related credit instruments, the loss of confidence and the very near melt-down of the capital markets and "Wall Street" itself as we know it ...... You are a caricature of the blind ideologue that you speak out against so regularly.....spare us the rhetoric.
Come on......it's simple what I am saying. The benefits and the blind.. unbridled.....mismanaged....perhaps encouraged... greed to achieve those riches....led....to the collapse. And it all was seeded and nurtured and matured by November of 2006.
Again, blind ideological rhetoric without the benefit of independent thought....the very stuff you accuse the ignorant radical conservatives of and criticize so often.... Many things led to the collapse.....the ill-fated intentions of many administrations both Dem and GOP. The force-fed high risk loans extorted by community organizations using the favorite Community Reinvestment Act (CRA) hammer so beloved by the lib/Dems. The ridiculous patchwork of ineffective state and federal regulation - the product of both Dem and GOP - and its tragic unintended consequences. The greed and poor judgement of the guy next door buying more than he can afford or speculating on the "sure thing" of quick riches in real estate and the unthinkable excesses spurred by the government-sponsored enterprises (GSE's) of Fannie and Freddie and their political protectorates and Queen Barney...and of course Queen Barney's resistance to reining in Fannie and Freddie at the point when there was still an opportunity to avert a crisis as severe as we experienced...... We've been over this time and time again, yet you continue to tout the collapse as an event driven by the Bush presidency......in doing so, you ignore facts and logic and replace them with partisan ideologue lib/dem/socialist gobblygook......you are what you preach to dislike. What crap.....like I said, you do better with the black helicopters, at least that provides some comic relief.