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Thread: Trump touts economic poll numbers

  1. #51
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    Quote Originally Posted by KnotaFrayed View Post
    Is this something new?

    The economy under a republican President is trashed and the claim was, no one saw it coming.

    When a Democrat is handed the disaster, the republicans try to blame him, for the disaster and/or for not recovering from a mess THEY did not prevent (and may have contributed to).

    When the economy begins to and continues to recover, the republicans still call that Democrat, the worst President ever, ignoring the much better state of the economy and only noticing it, when Trump got elected.
    [blah, blah, blah...]
    Where did you get this "no one saw it coming" crap? Republicans saw it coming and demanded stricter regulation of Fannie Mae and Freddie Mac, but the dems who were driving the housing bubble like Chuck Schumer and Bonnie Fwank insisted there was no pwobwem. The only way everyone doesn't know this fact is the liberal media refused to report it. So yeah, I guess you guys are sequestered on a different planet- one where inconvenient facts are kept from you and as a result, everything you know is wrong.
    Thanks from TNVolunteer73

  2. #52
    Veteran Member TNVolunteer73's Avatar
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    Yes Dodd and Frank made sure the Mortgage Crisis would hit hard..

  3. #53
    Veteran Member Eve1's Avatar
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    If you want to give Trump credit for the economy perhaps you should give him credit for the rising interest rate that will hurt the people that can least afford the hike.

    Monthly payments on credit cards, adjustable-rate mortgages and home equity lines are expected to increase after the Federal Reserve lifted its benchmark short-term interest rate this week for the third time in 2017.

    All of those revolving loans have variable rates that go up or down based on the Fed’s key rate, which is rising by a quarter percentage point.

    https://www.usatoday.com/story/money...let/945792001/

  4. #54
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    Quote Originally Posted by Eve1 View Post
    If you want to give Trump credit for the economy perhaps you should give him credit for the rising interest rate that will hurt the people that can least afford the hike.

    Monthly payments on credit cards, adjustable-rate mortgages and home equity lines are expected to increase after the Federal Reserve lifted its benchmark short-term interest rate this week for the third time in 2017.

    All of those revolving loans have variable rates that go up or down based on the Fed’s key rate, which is rising by a quarter percentage point.

    https://www.usatoday.com/story/money...let/945792001/
    Savings rates and money market rates will go up, too, helping those on a fixed income.

    Especially seniors.

  5. #55
    Veteran Member TNVolunteer73's Avatar
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    Quote Originally Posted by Eve1 View Post
    If you want to give Trump credit for the economy perhaps you should give him credit for the rising interest rate that will hurt the people that can least afford the hike.

    Monthly payments on credit cards, adjustable-rate mortgages and home equity lines are expected to increase after the Federal Reserve lifted its benchmark short-term interest rate this week for the third time in 2017.

    All of those revolving loans have variable rates that go up or down based on the Fed’s key rate, which is rising by a quarter percentage point.

    https://www.usatoday.com/story/money...let/945792001/
    Trump didn't raise the interest Rates, they were raised during the Obama administration,

    Finally: Fed raises rates for first time in 2016 - Dec. 14, 2016


    OOPS.. once again. you are as lost as a year old easter egg..

  6. #56
    Veteran Member Eve1's Avatar
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    Quote Originally Posted by TNVolunteer73 View Post
    Trump didn't raise the interest Rates, they were raised during the Obama administration,

    Finally: Fed raises rates for first time in 2016 - Dec. 14, 2016

    OOPS.. once again. you are as lost as a year old easter egg..

    I am only looking at 2017 when Trump was president. You give Trump credit for the good news in 2017 so he gets the credit for the bad too= the Federal Reserve lifted its benchmark short-term interest rate this week for the third time in 2017.
    Last edited by Eve1; 13th January 2018 at 09:14 PM.
    Thanks from labrea

  7. #57
    Veteran Member Eve1's Avatar
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    Quote Originally Posted by Miller47 View Post
    Savings rates and money market rates will go up, too, helping those on a fixed income.

    Especially seniors.
    The cumulative effect of the Fed’s interest rate hikes is mounting,” says Greg McBride, chief economist of Bankrate.com. “It’s putting a financial squeeze on household budgets at a time when income growth remains elusive.”

  8. #58
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    Quote Originally Posted by Otto Throttle View Post
    Where did you get this "no one saw it coming" crap? Republicans saw it coming and demanded stricter regulation of Fannie Mae and Freddie Mac, but the dems who were driving the housing bubble like Chuck Schumer and Bonnie Fwank insisted there was no pwobwem. The only way everyone doesn't know this fact is the liberal media refused to report it. So yeah, I guess you guys are sequestered on a different planet- one where inconvenient facts are kept from you and as a result, everything you know is wrong.
    Fannie and Freddie were late to the party.

    Wall Street's "private-label securitization" of mortgages, which objective analysts identify as the primary source of most subprime and other high-risk loans, experienced a dramatic increase in market share that was exactly contemporaneous with the housing bubble, rising from about 10 percent market share in 2003 to nearly 40 percent by 2006. Overall, loans originated for private-label securitization have defaulted at about six times the rate of Fannie and Freddie loans.

    https://www.theatlantic.com/business...crisis/250121/


    Critics of government policy argued that government lending programs were the main cause of the crisis.[139][140][141][142][143][144][145] The Financial Crisis Inquiry Commission (report of the Democratic party majority) stated that Fannie Mae and Freddie Mac, government affordable housing policies, and the Community Reinvestment Act were not primary causes of the crisis. The Republican members of the commission disagreed.[146][147]

    U.S. households and financial institutions became increasingly indebted or overleveraged during the years preceding the crisis. This increased their vulnerability to the collapse of the housing bubble and worsened the ensuing economic downturn.

    USA household debt as a percentage of annual disposable personal income was 127% at the end of 2007, versus 77% in 1990.[68]
    U.S. home mortgage debt relative to gross domestic product (GDP) increased from an average of 46% during the 1990s to 73% during 2008, reaching $10.5 trillion.[69]
    In 1981, U.S. private debt was 123% of GDP; by the third quarter of 2008, it was 290%.[70]
    Several economists and think tanks have argued that income inequality is one of the reasons for this over-leveraging. The New York Times reported in October 2012 that research by the Brookings Institution, the I.M.F. and dozens of economists at top research universities indicated that starting in the 1970s, earnings were squeezed for low- and middle-income households. They borrowed to improve their standards of living, buying bigger houses than they could afford and using those houses as piggy banks. Research by Raghuram Rajan indicated that: "Starting in the early 1970s, advanced economies found it increasingly difficult to grow...the shortsighted political response to the anxieties of those falling behind was to ease their access to credit. Faced with little regulatory restraint, banks overdosed on risky loans."[71]

    snip

    Excessive consumer housing debt was in turn caused by the mortgage-backed security, credit default swap, and collateralized debt obligation sub-sectors of the finance industry, which were offering irrationally low interest rates and irrationally high levels of approval to subprime mortgage consumers because they were calculating aggregate risk using gaussian copula formulas that strictly assumed the independence of individual component mortgages, when in fact the credit-worthiness almost every new subprime mortgage was highly correlated with that of any other because of linkages through consumer spending levels which fell sharply when property values began to fall during the initial wave of mortgage defaults.[63][64] Debt consumers were acting in their rational self-interest, because they were unable to audit the finance industry's opaque faulty risk pricing methodology.[65]

    https://en.wikipedia.org/wiki/Causes...reat_Recession
    But please, dont let the facts influence your partisan commitment to the party line.

  9. #59
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    Quote Originally Posted by TNVolunteer73 View Post
    Yes Dodd and Frank made sure the Mortgage Crisis would hit hard..
    Dodd Frank was passed after the fact.

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