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  • Originally posted by DSMoneypit View Post

    Yes, and that directly led to the crash of 08. Creating a bubble market might be good for the short run, but we need to plan better for the burst this time.
    A balanced budget that cut military spending led to a housing bubble which caused a market crash? I'm not following.

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    • Originally posted by General_Grantlocks View Post

      A balanced budget that cut military spending led to a housing bubble which caused a market crash? I'm not following.
      Deregulation, along with the dot com boom, led to a bubble. That's well established fact. The issue wasn't so much the bubble, as it was the factors that created it, and the unwillingness to account for the inevitable burst. People were predicting the crash of 08 as early as 2000.

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      • Originally posted by General_Grantlocks View Post

        A balanced budget that cut military spending led to a housing bubble which caused a market crash? I'm not following.
        When Obama was busy spending billions on the bailout people were virtue signaling Billy C's ability to work with Newt and balance the budget and hell - leave a surplus at the end of his 2nd term.

        Of course omitting conveniently how GW told the people to go on with our way of living and spending otherwise the terrorists would have won. His tax cut in the middle of the war and not adding the war costs on the deficit was what led to 2008 - not any dotcom bubble or anything else that had already burst in 1999 - remember Bush took power in Jan 2001

        All this revisionist theory about Bill C being responsible for the meltdown in 08 is utter crap - the Repubs happily cheered when Clinton got rid of Glass-Steigel regulations on banks.

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        • Originally posted by DSMoneypit View Post

          Deregulation, along with the dot com boom, led to a bubble. That's well established fact. The issue wasn't so much the bubble, as it was the factors that created it, and the unwillingness to account for the inevitable burst. People were predicting the crash of 08 as early as 2000.
          Absolutely not. The dot com bust was in 2000. The recession started in 2007.

          Bush's horrible economics and wars, combined with the real estate bubble as the tipping point is much more "well established fact".

          There's a reason we've had a poor economy under every single Republican president in my lifetime.

          Comment


          • Originally posted by General_Grantlocks View Post

            Absolutely not. The dot com bust was in 2000. The recession started in 2007.

            Bush's horrible economics and wars, combined with the real estate bubble as the tipping point is much more "well established fact".

            There's a reason we've had a poor economy under every single Republican president in my lifetime.
            Also bullshit financial instruments were created and not regulated because they added liquidity to the market.

            In 2000, credit default swaps became largely exempt from regulation by both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The Commodity Futures Modernization Act of 2000, which was also responsible for the Enron loophole, specifically stated that CDSs are neither futures nor securities and so are outside the remit of the SEC and CFTC.

            Signed into law by President Bill Clinton on December 21, 2000

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            • Originally posted by TTURedRaider View Post

              Also bullshit financial instruments were created and not regulated because they added liquidity to the market.
              Like I said repubs cheered gleefully when clinton sign it on the advice of Greenspan and co.

              Comment


              • Originally posted by ivegostdacityblues View Post
                Also where is daCat getting this 14% number from? 422 billion are stimmy checks which alone is 22% of the total package. That doesn’t include the money for increased unemployment benefits, the child tax credit, the rent assistance.

                $130 billion is going to K-12 schools.

                The only corporate handout I see is $12 billion to airlines which is .63% of the total bill. Show your work, daCat.
                I've seen the 14% thing a lot as well on FB. It was probably in the Daily Wire or some other right-wing "news" outlet and got repeated as fact across the conservative universe. It's complete bullshit, as you outline.

                I mean, if you're going to lie, at least make it believable. Only 14% went to "helping people"? Meaning 86% was just pure corrupt grift? If they flipped it and said 14% was pure corrupt grift, at least that would be somewhat believable.

                Comment


                • Originally posted by sctrojan View Post
                  Like I said repubs cheered gleefully when clinton sign it on the advice of Greenspan and co.
                  Democrats voted for it as well.

                  The House passed the Conference Report and, therefore, H.R. 4577 in a vote of 292-60. Over "objection" by Senators James Inhofe (R-OK) and Paul Wellstone (D-MN), the Senate passed the Conference Report, and therefore H.R. 4577, by "unanimous consent."

                  Clinton signed it.

                  Comment


                  • If I hear one more dumb cunt spout bootstrap bullshit, I’m going to punch them in the face. I’m fucking lucky, I got to keep my job and even came out ahead, but a lot of my friends are in deep shit right now and I get really mad when people act like it’s their fault. How the fuck are they supposed to know their industry is going to contract by 50%? If they can even run their business at all?

                    Comment


                    • Also, just want to say I appreciate what Biden has been doing lately in regards to the stimulus, and that it’s nice that we have an adult as POTUS again. Hopefully this will be passed soon and people can get the help they need.

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                      • Originally posted by tOSUfanboi2 View Post
                        If I hear one more dumb cunt spout bootstrap bullshit, I’m going to punch them in the face. I’m fucking lucky, I got to keep my job and even came out ahead, but a lot of my friends are in deep shit right now and I get really mad when people act like it’s their fault. How the fuck are they supposed to know their industry is going to contract by 50%? If they can even run their business at all?
                        All I'm saying is that if those means of production didn't want to be seized, they wouldn't have gone out dressed that way.

                        Comment


                        • Originally posted by tOSUfanboi2 View Post
                          If I hear one more dumb cunt spout bootstrap bullshit, I’m going to punch them in the face. I’m fucking lucky, I got to keep my job and even came out ahead, but a lot of my friends are in deep shit right now and I get really mad when people act like it’s their fault. How the fuck are they supposed to know their industry is going to contract by 50%? If they can even run their business at all?
                          The response to it was terrible as well. The president was telling them "it'll be over in a few weeks" to "it'll be done by the summer" to "we're rounding the corner" etc etc.

                          Not only was it an unseen virus that destroyed economies, they were put in a perpetual state of limbo about how they should react to it. Shut down for a few weeks and then reopen? Or shut down, heavily invest in COVID precautions to allow your business to open in a pandemic, and reopen quickly and weather the storm.

                          I mean, few people are truly at fault here when we had a mixed bag from scientists trying to learn and understand the virus early on as well as a president who was the biggest propagandist in our country's history telling us it is just the flu and go back to work.

                          Comment


                          • https://twitter.com/AndrewSolender/s...30360591478786

                            It's amazing how effective and simple the GOP blueprint is when dealing with Democratic presidents.

                            1. Refuse to vote for a bill regardless of what is in it.

                            2. Call it "partisan" because of that.

                            3. Demand Democratic president concede most of the bill to them.

                            4. Refuse to vote for it anyway.

                            5. Watch the weakened bill sputter and say "Democrats did this".


                            This bill has like 80% support among the population. Republicans know it will greatly benefit America under a Democratic president, which is bad for them, so they have to find ways to undermine it, even though they know it will hurt the country. Then they get Fox news and the rest of their propaganda networks to run interference and blame Democrats for the failure.

                            I sincerely hope Democrats don't blink here and pass this as-is and let Republicans reap the political fallout of wholly opposing a popular spending bill.

                            Comment


                            • Originally posted by DPR View Post
                              https://twitter.com/AndrewSolender/s...30360591478786

                              It's amazing how effective and simple the GOP blueprint is when dealing with Democratic presidents.

                              1. Refuse to vote for a bill regardless of what is in it.

                              2. Call it "partisan" because of that.

                              3. Demand Democratic president concede most of the bill to them.

                              4. Refuse to vote for it anyway.

                              5. Watch the weakened bill sputter and say "Democrats did this".


                              This bill has like 80% support among the population. Republicans know it will greatly benefit America under a Democratic president, which is bad for them, so they have to find ways to undermine it, even though they know it will hurt the country. Then they get Fox news and the rest of their propaganda networks to run interference and blame Democrats for the failure.

                              I sincerely hope Democrats don't blink here and pass this as-is and let Republicans reap the political fallout of wholly opposing a popular spending bill.

                              The party should fold if they don’t pass it. It’s the biggest no brainer politically.


                              Sent from my iPhone using Tapatalk

                              Comment


                              • Originally posted by ivegostdacityblues View Post

                                The party should fold if they don’t pass it. It’s the biggest no brainer politically.
                                Seriously. Even without the min wage in it, it is a no-brainer bill. They need to pass and implement it quickly before the GOP propaganda machine manages to convince 80% of Republicans that getting a $1,400 check in the mail is somehow a bad thing.

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