REAL WORLD EVENT DISCUSSIONS

HEY! Let's privatize Social Security!

POSTED BY: SIGNYM
UPDATED: Monday, September 22, 2008 06:36
SHORT URL:
VIEWED: 2383
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Thursday, September 18, 2008 10:14 AM

SIGNYM

I believe in solving problems, not sharing them.


Just couldn't resist poking fun at this (bad) idea from several years ago. Keep this financial meltdown in mind next time some politician recycles the idea.

---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal

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Thursday, September 18, 2008 10:26 AM

CHRISISALL


Signy, you have no PROOF that privatization would be a bad thing. We don't and can't know it would be.
In the immortal words of Ronald Reagan, There you go again.
When are you going to drop this fascination with the utterly unknowable?
When are you going to admit that you stopped beating your wife?
When will Finn vote Green Party?


Silly silly Chrisisall

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Thursday, September 18, 2008 11:43 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by SignyM:
Just couldn't resist poking fun at this (bad) idea from several years ago. Keep this financial meltdown in mind next time some politician recycles the idea.




Privitization is a far better idea than throwing $$ away into this Ponzi Scheme.

In 1916 an Italian immigrant named Charles Ponzi created an investment fund that paid large dividends without making any investments. Money from new investors was transferred to old investors, while the new investors received money from newer investors yet. The system had flexibility and boldness, and worked as long as an ever-expanding pool of suckers could be found.

Charles Ponzi made a profit on this, and so does the U.S. government. Social Security payroll-tax receipts have always been greater than Social Security benefit payments and will continue to be until about 2013, when the baby-boom sucker pool retires. The federal government has taken this surplus revenue, spent it and given the Social Security trust-fund IOUs in return. That is, the government spent the money and then promised to spend it again later.

Having a Social Security trust fund is exactly like not having a Social Security trust fund. Social Security will go into the red no matter what. Without a trust fund, the government will have to pay off the Social Security deficit by raising taxes and cutting benefits. With a trust fund, the government will have to pay off the Social Security IOUs by raising taxes and cutting benefits.

The only real solution to Social Security is to own it -- privatize the whole system of national social insurance. This would still leave us with enormous unfunded liabilities owed to people too old to go private. But we'll have those anyway. And privatization would work. There is no twenty-year period in American history when stocks lost money. And even from 1930 to 1939, a conservative portfolio -- half stocks, half bonds -- would possibly have made 0.68 percent a year. That's not a spectacular return, but it beats waiting until we're sixty-five to rummage in the Silver Tabs for change to buy cat food.

Privatization, however, will happen at about the same time Al Gore and Liddy Dole get naked and hook up. Thirty-eight percent of the federal budget is spent on Social Security and other social insurance. By 2020 that share will be between fifty-nine and sixty-eight percent. Two-thirds of a politician's throw weight will come from controlling social-insurance dollars. Money is power. What use is it to endure the Dutch rubs and Indian rope burns that are politics if you can't obtain mastery over people and give them noogies back? Politicians would rather discard their spouses than discard two-thirds of their power. Some politicians would much, much rather.

http://www.enterstageright.com/archive/articles/0599ponzi.htm]





It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 11:48 AM

CHRISISALL


When will AU post things that make sense?


Chrisisall

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Thursday, September 18, 2008 11:56 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by chrisisall:
When will AU post things that make sense?


Chrisisall



Sowwy Chris. I'll use monosyllabic words next time I know you'll be reading the post. OK ?







It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 11:59 AM

SIGNYM

I believe in solving problems, not sharing them.


Yasee Rapo, instead of throwing money into a government scheme, we can throw it into an investment bank and housing bubble scheme!!!

YEAH! THAT'S IT!

Makes just as much sense as basing your retirement on Enron stock, doesn't it???

---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal

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Thursday, September 18, 2008 12:02 PM

CHRISISALL


Quote:

Originally posted by AURaptor:






You have a Superman fixation, AU.

Chrisisall

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Thursday, September 18, 2008 12:55 PM

CAVALIER


Quote:

Originally posted by SignyM:
Yasee Rapo, instead of throwing money into a government scheme...



By "government scheme" you mean "promise that a future generation of politicians will take money from your children and give it to you"?

With the stock market, we know with certainty that some investments will make money, and some will lose it.

With Social Security, we know with certainty that there is no preparation for the future whatsoever.

Something to bear in mind.

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Thursday, September 18, 2008 1:05 PM

RUE

I have a vote and I'm not afraid to use it!


"With Social Security, we know with certainty that there is no preparation for the future whatsoever."

And now for a few facts as an antidote to the Kool-Aid ...

"Reagan's biggest tax increase was on the working stiffs. We speak of the jump in the Social Security payroll tax. The Democratic Congress went along because the new revenues would keep payments flowing to current retirees, and the excess would be set aside (in Treasury securities) for when baby boomers retired in force.

The plan worked well. Social Security should be solvent until 2041, by which time the baby boom will be mostly history."

***************************************************************

Silence is consent.

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Thursday, September 18, 2008 1:10 PM

CITIZEN


Quote:

Originally posted by Cavalier:
With the stock market, we know with certainty that some investments will make money, and some will lose it.


I believe that's what Lehman traders said.



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Thursday, September 18, 2008 3:07 PM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!



www.rense.com

Baaaaarack Saddam Hussein Obama Osama will fix it.

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Thursday, September 18, 2008 3:41 PM

CHRISISALL


Hi-larious picture PN, but it didn't need the nonsensical text beneath it.

Chrisisall

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Thursday, September 18, 2008 4:57 PM

AURAPTOR

America loves a winner!


Quote:

Originally posted by chrisisall:
Hi-larious picture PN, but it didn't need the nonsensical text beneath it.

Chrisisall



Yes, because Chrissy likes pictures, but those pesky words cause him ever so much trouble!





It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 5:50 PM

KWICKO

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)


Quote:

Yes, because Chrissy likes pictures, but those pesky words cause him ever so much trouble!



This from the guy who can't tell the difference between "then" and "than"...

Mike

This world is a comedy for those who think, and a tragedy for those who feel.

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Thursday, September 18, 2008 5:56 PM

RUE

I have a vote and I'm not afraid to use it!


How's that roaring economy going, Rap ?

***************************************************************

Silence is consent.

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Thursday, September 18, 2008 6:13 PM

AURAPTOR

America loves a winner!


Quote:

Originally posted by rue:
How's that roaring economy going, Rap ?

.



Would have been great if the Demcorats hadn't screwed up the mortgage industry.

I mean, WOW! Did they screw it up - BAD.



It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 6:16 PM

AURAPTOR

America loves a winner!


Quote:

Originally posted by Kwicko:
Quote:

Yes, because Chrissy likes pictures, but those pesky words cause him ever so much trouble!



This from the guy who can't tell the difference between "then" and "than"...

Mike

.




Another lame, unsubstantiated attempt at humor, insult, what ever.





It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 6:19 PM

RUE

I have a vote and I'm not afraid to use it!


"Would have been great if the Demcorats hadn't screwed up the mortgage industry.
I mean, WOW! Did they screw it up - BAD."


Exactly which democrats, again ? And when did they do the nasty deed ? I need names, dates, facts, links - something that lets me know you're not actually hallucinating ... ... ... again.

***************************************************************

And somewhere in the dark silence, Rap is whispering to himself ... but CLINTON ! ...

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Thursday, September 18, 2008 6:29 PM

KWICKO

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)


Quote:

Would have been great if the Demcorats hadn't screwed up the mortgage industry.


Another unsubstantiated attempt at words, "what ever".

:P



This world is a comedy for those who think, and a tragedy for those who feel.

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Thursday, September 18, 2008 6:45 PM

AURAPTOR

America loves a winner!


Bill Clinton left behind a two-year recession because of his massive tax increase in 1993, retroactive no less, which started the unraveling of what was at the time, the eleven-year economic recovery and boom of Ronald Reagan.

Then, on November 12th, 1999, Bill Clinton signed the repeal of the Glass-Steagall Act of 1933. What that did was allow commercial and investment banks to consolidate. Now, banks began trading and underwriting assets called mortgage backed securities, CDOs, and SIVs, all of the toxic waste that’s coming home to roost today. That was after a one-year, $200 million lobbying effort by the Democrat lobbyists to put this thing through and it was done in opposition to the Congressional Research Service’s own report, the information is out there, all anyone has to do is go do a Web search for Glass-Steagall and repeal. It is unbelievable that the Democrat Party is trying to lay this at the at the foot of the Republican Party when it was Bill Clinton and Democrat lobbyists that pushed this thing through.





It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Thursday, September 18, 2008 7:25 PM

RUE

I have a vote and I'm not afraid to use it!


"Bill Clinton left behind a two-year recession"

That's your first lie.

"In March 2001, the U.S. economy went into recession for the first time in ten years, according to the National Bureau of Economic Research (NBER.) NBER -- the private, nonpartisan organization whose business cycle announcements have long been considered the definitive word on the topic -- announced its determination on November 26, 2001:

The NBER's Business Cycle Dating Committee has determined that a peak in business activity occurred in the U.S. economy in March 2001. A peak marks the end of an expansion and the beginning of a recession. The determination of a peak date in March is thus a determination that the expansion that began in March 1991 ended in March 2001 and a recession began. The expansion lasted exactly 10 years, the longest in the NBER's chronology.

... NBER is widely respected, long recognized as the arbiter of recessions, and is headed by a Bush ally; so if NBER says the recession began in March 2001, the recession began in March 2001."

So Bill Clinton oversaw an unprecedented EXPANSION of the economy.


And while it's true Clinton signed the bill - it was passed in 1999 by a repubican Congress. That's an extra 3/4 lie. Because it was part of a repubican agenda, sponsored and pushed by repubicans and passed by repubican Congress. In fact the bill was sponsored by Phil Gramm (a repubican) as part of the (repubican) mantra of deregulation and privatization started by Reagan (a repubican). So the whole screwed-up mess is really IS all according to the repubican plan, isn't it ?

So, are you now saying that the repubican deregulation and privatization agenda is a BAD thing ? That Reagan and Phil Gramm were wrong ? That what was needed was to keep the existing regulations in place, or even expand them ? Because that's where your logic (such as it is) leads.

***************************************************************

...but CLINTON ! ...

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Friday, September 19, 2008 1:07 AM

CITIZEN


Quote:

Would have been great if the Republicans hadn't screwed up the mortgage industry.

I mean, WOW! Did they screw it up - BAD.


There, fixed that for you.

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Friday, September 19, 2008 1:13 AM

CITIZEN


Quote:

Originally posted by rue:
And while it's true Clinton signed the bill - it was passed in 1999 by a repubican Congress. That's an extra 3/4 lie. Because it was part of a repubican agenda, sponsored and pushed by repubicans and passed by repubican Congress. In fact the bill was sponsored by Phil Gramm (a repubican) as part of the (repubican) mantra of deregulation and privatization started by Reagan (a repubican). So the whole screwed-up mess is really IS all according to the repubican plan, isn't it ?

So, are you now saying that the repubican deregulation and privatization agenda is a BAD thing ? That Reagan and Phil Gramm were wrong ? That what was needed was to keep the existing regulations in place, or even expand them ? Because that's where your logic (such as it is) leads.


The sub-prime mortgage crash started the current problem, but it was short selling that really screwed everything up. Now, short selling was made illegal by the uptick rule, passed in the thrities by Democrats, and repealed in 2007, by Republicans...



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Friday, September 19, 2008 1:25 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by citizen:
Quote:

Would have been great if the Republicans hadn't screwed up the mortgage industry.

I mean, WOW! Did they screw it up - BAD.


There, fixed that for you.



Citizen, w/ all due respect, you have no clue of what you're talking about. Please, do us and yourself a favor and keep quiet.

Quote:

Now, short selling was made illegal by the uptick rule, passed in the thrities by Democrats, and repealed in 2007, by Republicans
Sorry brother, but this mess has been stewing for FAR longer than '07, as you'd have us believe.




It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Friday, September 19, 2008 1:50 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by rue:
"Bill Clinton left behind a two-year recession"

That's your first lie.

Sorry, that's no lie, that's FACT. That you don't care to be reminded of it is a non issue. None of Bush's policies had taken place by March of 2001, not even close.

Quote:



So Bill Clinton oversaw an unprecedented EXPANSION of the economy.




Oversaw, as in he was sitting in the White House while it occurred, but he had little to do w/ the expansion of the economy. It was primarily the bogus dot-com bubble which blew up the stock market.

Quote:

And while it's true Clinton signed the bill - it was passed in 1999 by a repubican Congress. That's an extra 3/4 lie. Because it was part of a repubican agenda, sponsored and pushed by repubicans and passed by repubican Congress. In fact the bill was sponsored by Phil Gramm (a repubican) as part of the (republican) mantra of deregulation and privatization started by Reagan (a repubican). So the whole screwed-up mess is really IS all according to the repubican plan, isn't it ?

So, are you now saying that the repubican deregulation and privatization agenda is a BAD thing ? That Reagan and Phil Gramm were wrong ? That what was needed was to keep the existing regulations in place, or even expand them ? Because that's where your logic (such as it is) leads.




It was poor management, not deregulation , which was the big down fall. And it wasn't just all 'Clinton', but the likes of Elliot Spitzer who also had a hand in this debacle. Spitzer ran a very public witch hunt posing as a trial against then Chairman / CEO Maurice "Hank" Greenberg of A.I.G., alleging fraudulent business practice, securities fraud, common law fraud, and other violations of insurance and securities laws. Despite tough talk on a television news show, Spitzer declined to bring any criminal charges against Greenberg, and two of the civil charges were dropped in September 2006.






It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Friday, September 19, 2008 2:45 AM

JONGSSTRAW


Joe Biden : Love child of Countrywide
Chris Dodd : Love child of Countrywide
Barack Obama : Love child of Fannie Mae ( got $ 500k)
John McCain : Love child of Fannie Mae ( got $ 125k )
Barney Frank : Chairman of Banking Committee
SEC Chairman : Bush Appointee
Bernacke : Fed Chairman
Sec. of Energy : Bush Appointee

All these guys are guilty. They should all resign immediately. In China they'd be lined up and shot.

Also, privatization of Social Security would be a NIGHTMARE! The events of the last 10 days prove that anyone choosing to invest a part of their SS portfolio would have been wiped out. Not me bro'...I'll take the safe dough.

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Friday, September 19, 2008 3:14 AM

CHRISISALL


Quote:

Originally posted by AURaptor:



It was poor management, not deregulation , which was the big down fall.


With all due respect AU, you're a bloody idiot.
Yeah, Clinton was a stooge in this, but you act like Bush came into office blind to the situation.
You're just a phony partisan dirtbag, like most politicos, ready to lay blame but not to take it. We're all in this together, and share equal blame for allowing this bi-partisan greed to wrap its crusty white digits around our collective throats.
Eff you pal, and the elephant you rode in on.

BTW, who's the other one of you? You hands of blue types always go two by two, I've heard it said.

Chrisisall

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Friday, September 19, 2008 3:16 AM

CHRISISALL


Quote:

Originally posted by Jongsstraw:
In China they'd be lined up and shot.


In Hong Kong, they'd be dead already.

Jetisall

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Friday, September 19, 2008 3:20 AM

CITIZEN


Quote:

Originally posted by AURaptor:
Citizen, w/ all due respect, you have no clue of what you're talking about. Please, do us and yourself a favor and keep quiet.

I tend to find it's people who say "you haven't got a clue what you're talking about" in lieu of actually producing evidence to back they're cause that have problems in that department. I have a pretty good grasp of the situation, thank you, and if you wish not to embarrass yourself further you might want to open your ears and listen to someone who disagrees for you for once.
Quote:

Sorry brother, but this mess has been stewing for FAR longer than '07, as you'd have us believe.

Indeed homeboy, it's been'a brewin' since Ronald Reagan, a Republican, started all this deregulation in the first place. They called it Reaganomics, perhaps you remember it? Saying that one peice of deregulation proposed by a Republican congress is all down to Clinton, and further more is solely responsible for the current financial crises, where as the reams of deregulation undertaken solely by Republicans has nothing to do with it is either incredibly silly, or wilfully misleading. Beyond that read what I wrote. I never said that the withdrawal of the uptick rule started anything. What I said is that short selling, which was made legal with the withdrawal of the uptick rule, turned what would have been a depression into a full blown crash, with major financial institutions going bankrupt.

Here's how it works:
Sub-prime mortgage causes a lack of faith in secured debt held by many major lenders. This causes their stock price to go down. Short sellers start selling these stocks, which floods the market, causing the stock to lose even more value. In order to ensure they're returns, short sellers also begin to spread rumours and lower the trust in these institutions even further, prompting people to lose even more faith in their stock, making the share price drop even lower. The short sellers buy back the stock at rock bottom prices, giving them huge profits, and leaving the banks with near worthless stock and on the verge of bankruptcy. Stock price was driven down by short sellers, trading legally in a way that was illegal prior to 2007. The withdrawal of the uptick rule turned this from a depression in to a collapse. That it was brewing since before 2007 doesn't matter, that short selling massively magnified the effects was my point.

Withdrawal of the uptick rule was quite possible the most stupid economic decision made in recent years, everyone with any knowledge of economics whatsoever knows that short selling is disastrous during an economic down turn, it was the major factor in the 1929 wall street crash for crying out loud. Anyone with half a brain could tell withdrawing the uptick rule was a stupid move, so one wonders why they did it.



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Friday, September 19, 2008 3:26 AM

JONGSSTRAW


Quote:

Originally posted by chrisisall:
... like most politicos, ready to lay blame but not to take it. We're all in this together, and share equal blame for allowing this bi-partisan greed to wrap its crusty white digits around our collective throats.


Chris, your posts lately are really hitting the nail on the head.

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Friday, September 19, 2008 4:04 AM

WULFENSTAR

http://youtu.be/VUnGTXRxGHg


Again, this is why we need to get away from the 2 party system...they are running a "train" on all of us...

Sorry for the gross image, but it applies.

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Friday, September 19, 2008 4:53 AM

SIGNYM

I believe in solving problems, not sharing them.


Quote:

Sorry brother, but this mess has been stewing for FAR longer than '07, as you'd have us believe
yeah, it goes back to Ronnie Raygun, Bush I, and Bush II.

---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal

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Friday, September 19, 2008 6:53 AM

RUE

I have a vote and I'm not afraid to use it!


"Sorry, that's no lie, that's FACT. That you don't care to be reminded of it is a non issue. None of Bush's policies had taken place by March of 2001, not even close."

The 2001 recession was sparked by a global recession that hit Asia first and worst and peaked there in 1997 in the wave of collapsing currencies, then hit the EU in 2000, then spread to the US - and obviously (at least to anyone who thinks) not caused by Clinton. What is MOST notable was how weak the recovery was under Bush's policies - one could say that the US still hasn't recovered. And that, my brainless friend, IS due to Bush.

"It was primarily the bogus dot-com bubble which blew up "the stock market"."

It didn't blow up "the stock market". It caused NASDAQ (which is not the entire investment economy or even the entire 'stock market') some short-term losses. So your hyperbole is getting in your way, again.
Meanwhile, the US dollar and US dollar-valued investments like the DOW and the bond market were a haven for foreign investments as early as 1997 and as late as 9/11/2001, before, during and after the dot com bubble. And while the DOW crashed on 9/11, it fully recovered a few months later, only to crash again at the end of 2002. And the DOW has not fully recovered since. In inflation adjusted dollars it's below its value at the start of the Bush regime. Now let me think .... who to blame for that ...
I know - Clinton !

"It was poor management, not deregulation , which was the big down fall."

So private business isn't the optimum way to run a national economy! Because people make bad decisions based on short-term profits to bolster their bonuses and stocks rather than for optimum long-term growth. I'm glad we agree, then !


***************************************************************

Silence is consent.

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Friday, September 19, 2008 11:32 AM

KWICKO

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)


Quote:

In China they'd be lined up and shot.


In China, so would Bush, Cheney, Rumsfeld, and the entire Bush Administration. And I'd have no problem with that.

After all, the fish rots from the head.

Mike





This world is a comedy for those who think, and a tragedy for those who feel.

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Saturday, September 20, 2008 2:41 AM

AURAPTOR

America loves a winner!


Reaganomics had ABSOLUTELY NOTHING to do w/ the current sub-prime mortgage crisis, Limey. The fairy tale story you're trying to offer up isn't sitting well w/ anyone with a brain. The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority home ownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but “predatory.”

The seed was planted in the ’90s by Clinton and his social engineers such as Andrew Cuomo, head of Housing and Urban Development at the time, AND ANOTHER LIBERAL DEMOCRAT. They were the political catalyst behind this slow-motion financial train wreck.






It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 2:58 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by SignyM:
Quote:

Sorry brother, but this mess has been stewing for FAR longer than '07, as you'd have us believe
yeah, it goes back to Ronnie Raygun, Bush I, and Bush II.

---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal



Wrong. It can fully be set at the feet of one William Jefferson Blythe Clinton.

Clinton Administration's Changes of 1995

The Clinton Administration's regulatory revisions with an effective starting date of January 31, 1995 were credited with substantially increasing the number and aggregate amount of loans to small businesses and to low- and moderate-income borrowers for home loans. Part of the increase in home loans was due to increased efficiency and the genesis of lenders, like Countrywide, that do not mitigate loan risk with savings deposits as do traditional banks using the new subprime authorization. This is known as the secondary market for mortgage loans. The revisions allowed the securitization of CRA loans containing subprime mortgages. The first public securitization of CRA loans started in 1997 by Bear Stearns. The number of CRA mortgage loans increased by 39 percent between 1993 and 1998, while other loans increased by only 17 percent.


Representative Barney Frank(D-MA) claimed of the thrifts "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."




It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 3:01 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by Kwicko:
Quote:

In China they'd be lined up and shot.


In China, so would Bush, Cheney, Rumsfeld, and the entire Bush Administration. And I'd have no problem with that.

After all, the fish rots from the head.

Mike




Those who do the right thing in China are killed?

Hmm. I guess so. But that you'd have no problem w/ that, only shows how truly evil and despicable a human being you are.



It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 3:30 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by rue:

What is MOST notable was how weak the recovery was under Bush's policies - one could say that the US still hasn't recovered. And that, my brainless friend, IS due to Bush.

.



" Weak " is a subjective term, while you overlook the FACT that Bush's recovery of the Clinton/ Gore recession has lasted 48 months.

Deal.



It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 3:56 AM

CITIZEN


Quote:

Originally posted by AURaptor:
Reaganomics had ABSOLUTELY NOTHING to do w/ the current sub-prime mortgage crisis, Limey.


I seem to need to repeat myself:
Saying that one peice of deregulation proposed by a Republican congress is all down to Clinton, and further more is solely responsible for the current financial crises, where as the reams of deregulation undertaken solely by Republicans has nothing to do with it is either incredibly silly, or wilfully misleading.

The Republican's constant drive for deregulation, epitomised by Reaganomics has everything to do with not just the sub-prime mortgage crises, but the wider collapse that it set off. Your fairy tale story that it's all Clinton's fault isn't sitting well with anyone not suffering from "Clinton Derangement Syndrome" I'm afraid. Indeed, even IF your silly suggestion was correct, Bush is still complicit, he's been president for 8 years buttercup, he could have undone any of these policies if he wanted to. Clinton is complicit, he didn't put sensible market regulation in place for a start, however it was a Republican agenda that brought the US to this point, in a period dominated by Republican politics and Presidents.

It's interesting that in a period dominated by a Republican agenda and policies, a crash following Republican control of the entire US government, has you telling us it's all down to a Democrat. Do you still sleep with a night light in case Clinton comes into your bedroom at night to steal your dreams? One wonders what Republican partisan hacks would do if Clinton hadn't been elected in the 90's. This situation would have happened anyway, but they wouldn't have had a Democrat to blame everything on, probably post lots of irrelevant pictures and talk about Democrat uber conspiracies like the rest of the tin foil hats I guess.

At any rate it's nice to see that your position is as intelligent, non-partisan, well reasoned and researched as ever, and that your delivery is as respectful and decent as we've come to expect from you. I note that yet again returning true to form you insult not only me, but my entire nation by using a well known racial slur, obviously attempting to turn this thread into yet another flame war. Since you're already resorting to these sorts of childish bigoted tactics, I'm forced to conclude that you have no real argument, nor any data to back it up. The more you concentrate on insulting me, the more you scream and spit, the more wrong you prove yourself to be, so by all means, please continue.



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Saturday, September 20, 2008 4:59 AM

AURAPTOR

America loves a winner!


It's funny that you saying " in a period following GOP control ", whn in fact we ARE in a period of Democratic control, and have been for 2 yrs, in both House and Senate, that you'd dismiss the fault of those who are at fault here, the Democrats, and try to lay blame on the GOP.

Talk about derangement syndrome !

Representative Barney Frank(D-MA) claimed of the thrifts "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Talking to a wall would yield more understanding than what I'm attempting to do here. At least the wall stands for something.




It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 5:24 AM

CITIZEN


Quote:

Originally posted by AURaptor:
It's funny that you saying " in a period following GOP control ", whn in fact we ARE in a period of Democratic control, and have been for 2 yrs, in both House and Senate, that you'd dismiss the fault of those who are at fault here, the Democrats, and try to lay blame on the GOP.

You said Bush's policies couldn't have come into effect two years after taking office. It's funny how Democrat policies do come into immediate effect, when it comes time to apportion blame. Further more you place the whole responsibility for the mortgage deregulation at the feet of Clinton, you can't have it both ways, either the congress had nothing to do with it for both Bush and Clinton, or they did. Which is it?

As I said, saying that a peice of deregulation proposed by a Republican congress is all down to Clinton is misleading at best. Saying one piece of deregulation undertaken during a Democrat Presidency is solely responsible, while the reams of deregulation undertaken by Republicans had nothing to do with it, is at best a Partisan delusion, and at worse a flat out and deliberate lie.
Quote:


Talk about derangement syndrome !

Indeed, you're argument is self-contradictory, unsubstantial and illogical. It hinges on laying all the blame on a person who hasn't been in power since the last millennium, what do you do for an encore? Blame Emperor Nero for the invasion of Iraq?

Deranged indeed.
Quote:

Talking to a wall would yield more understanding than what I'm attempting to do here. At least the wall stands for something.
As I said, the more you scream and insult, the more wrong you look and the more you undermine your own argument, so please do continue, you're only helping me.



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Saturday, September 20, 2008 5:35 AM

CHRISISALL


Quote:

Originally posted by AURaptor:
It's funny that you saying " in a period following GOP control ", whn in fact we ARE in a period of Democratic control, and have been for 2 yrs, in both House and Senate

More AU dis-logic. The economy is roaring...but when that flag no longer flies at all, oh, but we were in Democratic control!!! Last year when you were spouting off about how great we were doing, was THAT due to the Democratic control you now claim we've been under? You make less sense than a blind man w/a tin cup.
Have it both ways why doncha? You REALLY can't even see this working in your head, can you? The way you take facts and apply them the way it always looks worst for your mortal enemies & spawn of Satan, the Democrats?
I can only assume your dad must have been a child-beater that also happened to vote Democrat- this is the only way you could be so hard-wired in this fashion (Pre-apology if I'm actually correct on that- ya never know...).

Chrisisall

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Saturday, September 20, 2008 7:23 AM

KWICKO

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)


Quote:


It's funny that you saying " in a period following GOP control ", whn in fact we ARE in a period of Democratic control, and have been for 2 yrs, in both House and Senate...



Actually, you're wrong on that one. The Democrats are NOT "in control" of the U.S. Senate. I count 49 Democratic Senators and 49 Republican Senators, with 2 Independents. And in the event of a tie, the tie-breaking vote goes to the Vice President, who is not exactly any friend of the Democrats.

So you can point all you want to the "Democratic control" of both House and Senate, and it's exactly as valid as me pointing out that the Republicans are in control of the Senate, and have been for years. After all, Lieberman, one of the "independent" Senators, is hardly a Democrat.

Mike




This world is a comedy for those who think, and a tragedy for those who feel.

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Saturday, September 20, 2008 7:52 AM

SERGEANTX


Quote:

Originally posted by SignyM:
Yasee Rapo, instead of throwing money into a government scheme, we can throw it into an investment bank and housing bubble scheme!!!

YEAH! THAT'S IT!

Makes just as much sense as basing your retirement on Enron stock, doesn't it???



Here's an idea. You throw your money where you want, I put mine where I think is best. Everybody's happy. Whadya say?

SergeantX

"Dream a little dream or you can live a little dream. I'd rather live it, cause dreamers always chase but never get it." Aesop Rock

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Saturday, September 20, 2008 8:13 AM

ELVISCHRIST


Quote:


Here's an idea. You throw your money where you want, I put mine where I think is best. Everybody's happy. Whadya say?



Fine, and when it's gone, it's GONE. No bailouts, no help from "the nanny state". You're 100% on your own. Can't retire on your retirement funds when they've all dried up and blown away? Good then, die. Be a bum on the street. Just don't go looking for any help from your government.

Privatizing Social Security and putting that money in the market makes just about as much sense as taking it all to Vegas and putting it on Red 11 on the roulette wheel.

EC



If the prefix "pro-" means "for" or "in favor of", and "con" is its opposite, and if "progress" means "pushing forward" or "improving"... then what the hell does "Congress" mean?

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Saturday, September 20, 2008 9:53 AM

SERGEANTX


Quote:

Originally posted by ElvisChrist:
Fine, and when it's gone, it's GONE. No bailouts, no help from "the nanny state". You're 100% on your own. Can't retire on your retirement funds when they've all dried up and blown away? Good then, die. Be a bum on the street. Just don't go looking for any help from your government.



Exactly!

Quote:


Privatizing Social Security and putting that money in the market makes just about as much sense as taking it all to Vegas and putting it on Red 11 on the roulette wheel.



Well, I don't trust any politician's plans to "privatize" much of anything, and putting tax money (which is essentially all SS payments are) into the market seems quite idiotic. The privatizing I advocate is not taking the money from me in the first place. Let me decide how to provide for my future. I'll let you decide how to provide for yours. Sounds like a fair arrangement, no?

But of course we can't have that. Because there's no such thing as "mine" or "yours". There's only "ours". And who get's to decide what happens with "our" money? Well, Signym of course. Or, actually, the 50%+ majority make the call. The rest of us just get to watch. And the majority is always right.

SergeantX

"Dream a little dream or you can live a little dream. I'd rather live it, cause dreamers always chase but never get it." Aesop Rock

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Saturday, September 20, 2008 10:14 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by chrisisall:
Quote:

Originally posted by AURaptor:
It's funny that you saying " in a period following GOP control ", whn in fact we ARE in a period of Democratic control, and have been for 2 yrs, in both House and Senate

More AU dis-logic. The economy is roaring...but when that flag no longer flies at all, oh, but we were in Democratic control!!! Last year when you were spouting off about how great we were doing, was THAT due to the Democratic control you now claim we've been under? You make less sense than a blind man w/a tin cup.
Have it both ways why doncha? You REALLY can't even see this working in your head, can you? The way you take facts and apply them the way it always looks worst for your mortal enemies & spawn of Satan, the Democrats?
I can only assume your dad must have been a child-beater that also happened to vote Democrat- this is the only way you could be so hard-wired in this fashion (Pre-apology if I'm actually correct on that- ya never know...).

Chrisisall



The economy WAS doing fine, showing growth in 48 straight months, but the time bomb the Democrats had the majority hand in setting up was set to go off, and it did.

You go ahead and make childish comments about my parents, because we all know it's all you have , since facts and history aren't on your side. It's a typical response by those , like yourself, who get so frustrated that they're hopelessly outwitted and outclassed in this debate, they have to resort to such petty antics.



It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 10:17 AM

CITIZEN


Quote:

Originally posted by AURaptor:
It's a typical response by those , like yourself, who get so frustrated that they're hopelessly outwitted and outclassed in this debate, they have to resort to such petty antics.


Freudian in it's transferant simplicity.



More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.

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Saturday, September 20, 2008 10:25 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by citizen:
You said Bush's policies couldn't have come into effect two years after taking office.

No, I never said that. Go back and check the post. I said Bush's policies coudln't be blamed for the Clinton/ Gore recession, as he was in office LESS THAN 2 MONTHS. Conversely, the Dems were in control for a full year and 1/2 before the shit hit the fan.

Quote:

It's funny how Democrat policies do come into immediate effect, when it comes time to apportion blame. Further more you place the whole responsibility for the mortgage deregulation at the feet of Clinton, you can't have it both ways, either the congress had nothing to do with it for both Bush and Clinton, or they did. Which is it?

18 months does not = 2 months. Math 101
But sure, there are some GOP who are to blame , which is why they were voted out of office in '06. They were becoming too much like Democrats.

Quote:


As I said, saying that a peice of deregulation proposed by a Republican congress is all down to Clinton is misleading at best. Saying one piece of deregulation undertaken during a Democrat Presidency is solely responsible, while the reams of deregulation undertaken by Republicans had nothing to do with it, is at best a Partisan delusion, and at worse a flat out and deliberate lie.

Indeed, you're argument is self-contradictory, unsubstantial and illogical. It hinges on laying all the blame on a person who hasn't been in power since the last millennium, what do you do for an encore? Blame Emperor Nero for the invasion of Iraq?




There's nothing what so ever self - contradictory about my position. You making such statements do not make them true. Hell, YOU want to place blame on Reagan, who's not been in power for 20 years! Don't tell ME about illogical or unsubstantiated.
Deranged indeed.

Quote:

]As I said, the more you scream and insult, the more wrong you look and the more you undermine your own argument, so please do continue, you're only helping me.

The more you make up false claims of me allegedly 'screaming and insulting' when in fact, I've done nothing what so ever even coming remotely close to such silliness , the more folks see you as being a run of the mill troll, and nothing more.






It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager


" They don't like it when you shoot at 'em. I worked that out myself. "

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Saturday, September 20, 2008 10:32 AM

CHRISISALL


Quote:

Originally posted by AURaptor:

The economy WAS doing fine, showing growth in 48 straight months, but the time bomb the Democrats had the majority hand in setting up was set to go off, and it did.

So it WAS doing well- but not really, since a time bomb was about to go off.
Hmmm. Having it both ways again I see.
Quote:



You go ahead and make childish comments about my parents, because we all know it's all you have , since facts and history aren't on your side. It's a typical response by those , like yourself, who get so frustrated that they're hopelessly outwitted and outclassed in this debate, they have to resort to such petty antics.


Oh no! Ow! Mommy this mortal wound is all itchy.

You're right AU, it's all I have. I have left facts & common sense behind, and blast your parents out of sheer desperation...I know now that I have nothing. I have been wrong all these years in assuming a flexible stance in what I believe, taking variables into account. You have shown me the way, and it is easy, comfortable & correct.
Trust in the PTB.
Can you ever forgive me?

Raking the new leavesisall

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