Two agencies: Fannie Mae & Freddie Mac. To be continued . . .
Good reminder. I forgot about the subprime mortgage debacle that kicked off in 2003/4.
heard a great word this morning , made me chuckle . I think it refers to LS and his cult that he follows .it's called
" whataboutism ". also like the fact loner thinks its ok just to change thread titles . should throw people off a bit , so hey ho here we go
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Near CH99+V49, 2263, Tambon Mueang Phia, Amphoe Kut Chap, Chang Wat Udon Thani 41250
This 'but Obama' moment misleadingly brought to you by...
It's important to know the distinction between debt and deficit. The debt is the total, which was nearly doubled on Obama's watch. The deficit is an annual figure based on revenue vs expenditures.
There may have been a year or more where revenue exceeded spending under Obama, but it damn sure doesn't explain how the DEBT went from $9 Trillion to $20 Trillion. 555
It's impossible to have the DEBT increase by $9 to $10 Trillion in total and also claim that there was no annual deficit every year with revenue exceeding expenditures. If it were true every year of Obama's watch, then the DEBT would be no larger than it was when he took office -- or even less. Instead, it was twice as much.
Well if we exclude the lie that the inherited debt was$9 Trillion and give the factual $13.5 Trillion then adjust for inflation which brings it to an adjusted $15.18 Trillion that brings the percentage increase from a claimed 100% down to a much less impressive 25%. That is still too much but the current spendthrift is increasing the deficit by a much larger amount.
I haven't bothered to check if there was a claim that revenue exceed spending however the deficit fell from 8.8% of GDP in 2010 to 2.8% of GDP in 2014 so the rate of increase dropped.
So what is the Trump deficit? 2017 3.4% of GDP, 2018 projected to be 4.2% of GDP a nice 50% rise.
So yes Trump is successful in increasing US debt, and increasing the rate of increase as well.
From his tax cuts 4% of workers got a pay rise and 700 billion was paid to shareholders.
So yes Trump is making people richer (rich people though not poor people).
Also his new tax cuts will do exactly the same make enormous gains for the rich few.
Jerome and Nui's new househttp://bit.ly/NJnewHouse
In my posts all fees and requirements are the standard R&R but TIT and a brown envelope can make incredible changes YMMV.
Two agencies: Fannie Mae & Freddie Mac. To be continued . . .
Good reminder. I forgot about the subprime mortgage debacle that kicked off in 2003/4.
Actually, tam, it goes much further back than that.
1977 -- Jimmy Carter -- The Community Reinvestment Act.
This legislation contributed mightily to relaxed lending standards and banks increasing bad loans to keep regulators off of their backs.
During the Clinton years, banks were threatened with merciless audits and rejection of their mergers and branch expansion plans. Janet Reno, Clinton's attorney general, was the one delivering this message. To make sure those things happened without a snag, banks increased bad loans.
When GWB came along, he warned Congress about the risk at Fannie Mae and Freddie Mac; but also continued to urge borrowing standards with less documentation on loans and lower and lower down payments -- which had been happening all along.
Regulators told banks that if they didn't make what they considered to be enough loans to people who ordinarily wouldn't get a loan, that lack of loans in that regard would be considered evidence of unfair lending practices. And of course, the 'racist' flag would be waved about. It made all the banks comply and go more and more toward more and more no-money-down mortgages -- which were usually between 10% and 20% down.
In 2000, the Treasury Department did a study and found that the Community Reinvestment Act had lowerd down payments for ALL mortgages, not just those covered through the legislation. Banks were also encouraged to put less weight on the borrower's income.
No one had to be credit-worthy anymore to make a loan.
The Community Reinvestment Act required lax lending practices on the part of banks, whose loans were backed up by Fannie Mae and Freddie Mac. Banks worldwide bought this phony paper from Fannie Mae and Freddie Mac.
Warning shots were fired by GWB and John McCain over the necessity for reigning in Fannie and Freddie. Hearings were held in Congress. Predictably, Democrats viewed the calls for controls as 'racist' and 'lynching', while Republicans wanted more oversight. Many Democrats ignored the reports of government agencies who performed audits of Fannie and Freddie, and Dems said F&F didn't need to be regulated and that it was all hysteria and made up. This was in 2003, 2004 and 2005.
And of course, since Franklin Raines is black and was running Fannie Mae at the time that the hearings began, it was all labeled by Democrats as being just a 'racist' attack on Frank. 555
GWB's Treasury Secretary, John Snow, pushed for a strong regulatory agency in 2003 to oversee Fannie and Freddie. Alan Greenspan, the Fed Chairman in 2005, also called for regulation. Snow and Greenspan's warnings were ominous, but there were not enough votes in a Democrat conrtolled Congress to do what was necessary.
When the housing market reversed, and home values started to tank with mortgages going underwater and borrowers unable to pay balloon interest payments, foreclosures began and losses began to mount worldwide because of all the banks that had bought the phony paper -- thinking it was regulated and overseen well. Nope, it wasn't.
It all goes back to one thing: borrowers aren't borrowing from the bank. They are borrowing money that belongs to OTHER people, who happen to keep their money in that bank. The banks ignored their duty to protect those funds with high standards for borrowing that money. Wait ... other people's money? What does that sound like? But the banks were put upon by a federal government that threatened their existence if they didn't play ball and make loans to people who would normally be considered a bad credit risk.
And after it all came tumbling down in 2008, there were all those calling for bailouts and banks too big to fail, blah blah blah. But not ONE piece of legislation prevented banks from getting bigger and having the same things happen again. However, I was NOT in favor of ANY bailouts, and I'm not in favor of the government deciding how big a business can get. I am only pointing out the typical hypocrisy and bullsh*t that was spewed regarding "being too big to fail." It was the big rallying cry, but there was no legislation written to address it.
And many people forget, or choose to ignore the fact, that the TEA Party of Conservatives started as a reaction to GWB's spending. Bayrack wasn't even on the scene when voters became concerned about the debt and spending in GWB's term, but it's convenient for propagandists who posit the idea that the TEA Party is racist. GWB squandered his majority in Congress, lost it to Dems for 6 of his eight years, and the result was more spending and lack of regulations to make sure that Fannie and Freddie were backing good loans -- to protect citizens, the US banks, the shareholders of the banks, and banks in other countries who eventually bought the bad, bad, bad loans.
All of the bailouts between GWB's and Bayrack's terms in office even included foreign banks, businesses and agencies. The American People were saddled with this, not the US government.
Even though GWB saw the signs, he is just as much to blame as Clinton, Janet Reno and Dems in Congress who refused to believe what was right in front of them. Bill Clinton even admits to the Dems having contributed to it all (see the videos below).
There are videos all over YouTube that address this issue with legislators stating their views -- in their own words. Here are just two.
Past history, but I'm not sure that any lessons were learned.
According to the National Federation of Independent Business, another record has been reached by the Trump Administration. Their survey of almost 2,000 small business owners nationwide found that hiring has reached a 12-year high.
On average, small businesses added the largest number of workers since 2006. There are indications that more record-setting hires will be achieved, since 23% of those small business owners said they are planning more new job hires throughout the year.
Trump’s "America First" MAGAnomics has resulted in record-low unemployment for high school dropouts, who are the most likely to receive blue collar jobs and were in competition with illegal aliens. Trump's enforcement of border laws has closed the loophole for illegal aliens, whose presence depressed wages and took jobs from American citizens.
Liberals are infamous for putting activist judges on the courts at every level. They do this in the hopes that these judges will legislate from the bench when their socialist agenda does not pass muster in Congress or state legilatures.
In a speech in Colorado Springs, Colorado, one of Trump's advisors on judicial nomineees informed those attending that Trump's list of originalist appointments to the courts is virtually infinite. Trump is determined to close the lawless loophole used by LIBs and to nominate justices who honor the Constitution as written.
The nomination and confirmation of Justice Gorsuch, and the nomination of Brett Kavanaugh to the SCOTUS, is just the beginning. If Trump is fortunate to have two terms as POTUS, he could get two more appointments to the Supreme Court (that would replace activist justices) before leaving office. That would leave the balance of the SCOTUS with 7 originalists and 2 activists.
There will be a large overhaul of the federal court of appeals by the end of the current year. Trump has already nominated over 30 federal appeals judges.
The 9th Circuit Court of Appeals, which is the circuit MOST OVER-RULED by the Supreme Court, currently has 6 vacancies, and Trump will fill them with originalists. Three have already been nominated. In the words of Senator John Cornyn, who sits on the Judiciary Committee in the Senate, "We're going to clear the decks."
Trump promised during his campaign that he would appoint judges who respect the Constitution and the law. Another promise kept. Thus far, the Senate has confirmed almost 50 of Trump's judicial nominees. There are over 150 vacancies yet to be filled. Another 30 vacancies will occur soon afterwards due to retirements.
Tell that to Lone Star. He has filled most of these pages with his copy and paste Fake News.
So true NTVL, in fact since he says he has added me and others to his "Foe" list which makes it so he can't see any of our replies, he really is just talking to himself.
His is excuse might be that I used Visual Propaganda against his Written Propaganda.
But with all his tailoring of the numbers and stats and info to make his case, I view his posts as often nothing more than right-wing Steve K Bannon brand FAUX Economic Nationalism. Comrade Lone Star knows to stay in this "fake economic nationalism" lane as it gives him the same types of reconfigurable ammo his "Climategate Busts Things Wide Open" thread did -statistics drawn from wherever, applied however, to achieve whatever effect is needed upon his perceived audience.
Because outside the Faux Economic Nationalist lane, Trump's forein policy a total joke. China laughing at the trade war, knowing it will have zero effect on their long game, North Korea peace is just a Fake Out move as they continue setting up to help China and Russia.
And Russia really laughing that a guy they somehow mind-control has won the election and making an ass of himself on the international stage. Borrowing a bit from George Carlin, one can say he's like a dog that races across a room into a glass door, then gets back up acting like "I meant that, that was exactly what I intended to do".
History has shown time and again the "hire some jerk business tw4t to run the country" always ends badly.
Now the guy's own wife the First Lady trolls him with public statements.
Just as bad actors use allies of the US to use newly acquired citizenship in those countries to enter the US under travel agreements with allies (i.e. - Iranian with a passport from France or Germany), bad actors in international trade use US allies to get their goods under the radar and into the US (China selling goods through Mexico or Canada).
That makes trade with US allies a worldwide issue that involves everyone, and not restricted only to one particular country or group of countries.
That situation is what the US refers to as the "fatal flaw" of NAFTA, which allows both Canada and Mexico to take advantage of their access to US markets as brokers for Asian goods (and goods from elsewhere) imported into their countries.
In other words, brokers in allied countries have been circumventing US trade restrictions.
According to Reuters, Canada wants back in on the trade negotiations. Apparently the headway made with Mexico is making an impact on them. Being isolated in North America would not be a good thing for Canada.
Trump will walk away from NAFTA unless major trade changes are made.
US Rep Lighthizer is still meeting intensively with Mexican trade delegations from both the outgoing and incoming administrations. The "fatal flaw" has been the sticking point. For the past week, there have been a series of meetings in Washington DC between Mexico and the US. An unnamed official from Mexico claimed that there could be an agreement between the US and Mexico by the end of August.
One of the big sticking points with Canada hasn't been anything about trade. Freedland, the Canadian trade minister, has demanded the addition of transgender native equity rights, climate change stuff and some continued Canadian ability to exploit US markets in bi-lateral trade agreements with the US. Lighthizer hasn't even given it any credence. Additionally, much of what Canada has proposed in the way of automobile trade results in the OPPOSITE of what the new agreements are trying to change.
Lighthizer's view of trade:
“Free trade agreements are essentially grants of preferential treatment to other countries in exchange for an approximately equal grant of preferential treatment in their economy. Thus, it is reasonable from time to time to assess whether the bargain has turned out to be equitable.”
According to Lighthizer, Canada wants to maintain a trade advantage that will continue to hurt the US. That is a non-starter. Canada may want to come back to the trade table discussions, but their tune will need to be different.
Trump is just jealous because Ivanka has a crush on Justin. Mexico sending all those rapists and murderers, but the US want to trade with them. Trump is afraid of Mexico cause they won't take any of his BS
Next, 101 This thread will keep going till 2020...
Trump administration misled public on poverty
Alston said in his report that 40 million Americans are poor and over 5 million live in “Third World conditions.” The Donald Trump administration said that the findings were inaccurate.
The rebuttal by the Trump administration painted an optimistic picture of the country, even though that may not be the actual case.
A draft of the U.S. reply read: “The U.S. is entering a new era of economic growth and prosperity.” An official with the White House Council of Economic Advisers said the line should be omitted, noting that this period of growth started long before Trump came into office and was soon to end. The ultimate version ended up ignoring the suggestion altogether.
An official from the Council of Economic Advisers wrote a response to a line in the U.S.’s reply that suggested wages were increasing in the country.
“Wages haven’t really picked up, other than for supervisors,” said the official. That line was deleted. http://www.worldbulletin.net/world/2047 ... ze-outrage
Obobo was still blaming Bush well into his second term. What a sad turd he was. Trump is turning things around for Americans. A lot of you don't like that idea. Too f'n bad.
Yes Giggle but your NFL players will still be turning there backs and refusing your gloriouse anthem at games and there mostly blacks. What was Trumpy saying about these?? Seems he forgotton.
Sanctions against Iran, that were included with the US withdrawing from Obama's horrible nuclear deal, have gone into effect. These sanctions against Iran include international trade and will have ramifications for any country continuing to do business with Iran. Any country that continues to do business with Iran will be excluded from any trade arrangements with the US.
Renault, one of the first to begin business in Iran after the sanctions had been lifted, is already looking for a new supply line in Africa and is pulling out of Iran. Several other large French industries have also decided to pull out of Iran.
For the big three eneMedia, this is not happening. In the US, only the Wall Street Journal and other political publications are reporting on all of this and the internal turmoil in the streets of cities and towns across Iran.
In November, the US sanctions against the Iran oil industry will go into effect. If Iran's current regime lasts that long with their currency losing almost 50% of its value, those oil sanctions will send a shock wave through the Iranian economy.
Even with all of the verbal threats by Iran's leadership toward the US over this issue, they have said that they will agree to talks without preconditions if Trump is serious about talking. We'll see.
So here is yet another spoke in the wheel of international trade that impacts every country worldwide.
For the big three eneMedia, this is not happening. In the US, only the Wall Street Journal and other political publications are reporting on all of this and the internal turmoil in the streets of cities and towns across Iran.
, so hey ho here we go 
But the banks were put upon by a federal government that threatened their existence if they didn't play ball and make loans to people who would normally be considered a bad credit risk.
