Last night I said to my fellow political junkie… “ watch them blame the looming recession on Trump”…. Yep, by 8 am Mountain Time, the Biden Harris had issued a statement blaming “ the previous Administration “… How?? And I mean how??
To be fair, the housing bubble was quite a long time in the making and had a lot to do with the CRA and laws and rules surrounding "redlining", etc. No-doc lending and collateralized debt obligations can be traced back to distinct origins and didn't happen overnight.
Nope. The Housing Bubble was a symptom of a dysfunctional economy due to an energy crisis. Basically America had what amounted to a trillion dollar tax INCREASE on low wage earners over a 4 year period because of increased energy costs. That capital then came back into America because it wasn’t invested in energy production and wreaked havoc in our economy.
Interesting theory. Oil prices certainly could have had some contributing impact on the housing bubble, but pretty far fetched to say that it was the ONLY, or even primary factor and that lending standards, sub-prime loans, collateralized debt obligations, etc had nothing to do with it. More likely that the energy bubble was a symptom of a dysfunctional economy than the only/root cause of the dysfunction.
We had an energy crisis…not a bubble. So check out a graph of every major commodity from 2001-2008 and you will see an increase in price and an increase in supply…which is how markets are supposed to work. The only two commodities that didn’t see an increase in supply during that timeframe—global oil and North American natural gas. Those are literally the two most important commodities on the planet!! From 2007:
The oil-rich nations are also investing more in real estate, private equity funds and hedge funds, analysts say, and increasingly they are investing the money on their own, bypassing the major financial institutions of the United States and Europe.
“The oil-producing countries simply cannot absorb the amount of wealth they are generating,” said J. Robinson West, chairman of PFC Energy. “We are seeing a transfer of wealth of historic dimensions. It is not just Qatar and Abu Dhabi. Investment funds are being set up in places like Kazakhstan and Equatorial Guinea.”
By the way, the rest of that 'inflation' video is even worse. Kamala does attempt to answer the question by saying ports should be open 24/7 and we should pass the Build Back Better act because "it's free."
Yep, Trump plus Pelosi just meant the printing press was going nonstop for 7 months straight…Kamala is the candidate to reduce the deficit while Trump would just go bank to big spending.
They did but it has had very positive results. The worst spending are the upper rate tax cuts that just increase asset inflation and result in higher insurance and property taxes.
Jordan, you are 100% correct in your analysis. There are three main reasons for our economic distress. The first is the FED (and the BIS), due to its incredible mishandling of the US economy and indiscriminate printing of worthless fiat currency, aka Federal IOUs (with the US taxpayer responsible for their payback). The second cause is the congress and President for their asinine spending. The third cause is us (the taxpayers) for beintg ignorant and apathetic, and playing games, aka, the stock market,without knowing the real rules. Ibelieve the situation is irreversible-- the whole financial system will collapse. To slow down the inevitable, we must get rid of the FED, elect new, smart and honest people to the Executive and legislative branches, and lastly, restore the value of the dollar by backing it with gold.
This is only the beginning but I have a feeling that given we're in election season that the Fed will continue to be the buyer of last resort. That said, me thinks the wave is even too big for this organization. Furthermore, once established a trend goes further and deeper than one expects. The real wild card is a war in the middle east... close off the oil from this region and the shit will really hit the fan. Pax
Here's an idea, stop giving billions of dollars that we don't have to fund the war in Ukraine and stop giving free $hit to the invaders over our southern border. That might help.
His deficit was much less than Biden's deficit, and much of it was due to Covid, not Trumps fault. After the Trump tax reform, tax revenue went way up. All of Trumps actions stimulated and improved the economy.
Try this research, from the House Budget Committee, "Face Check Alert: Debunking CRFB's Analysis of Trump and Biden Impacts on the National Debt" "Biden increases the deficit projections by a total of $4.8 Trillion over 10 years" Should come up on google, dismantles the CRFB's lies and omissions, and misdirections.
Compared to Biden, Trump was a penny pinching scrooge. Google: , Unleash Prosperity, "The Real Middle-Class President" "Incomes under President Trump, for the middle class, rose faster than under all the three previous presidents combined" Thats what matters most.
The old saying is that they don't ring a bell at the top. The caveat is except for the top 5%. Those are the Wall Street insiders, the connected, the billionaires and the flush politicians.
The pathetic fact about that ditz is, to quote the criminal former Attorney General Eric Holder: "If you don't have the political parties identified on the ballot, the black people won't know who to vote for."
The problem is our nation is stuck with too many people who will vote for the person that represents their party on the ballot, instead of who will do the best for the nation. Which is how we ended up with Democrats being a major political party.
If political parties were subject to Truth in Labeling laws, the Democrats would have to identify as Communists on the ballot.
Dot com bubble? We came out better. The tree doesn’t grow to the sky forever! We have had corrections this year already! Ebbs and flows…. Computer driven…. Perhaps Powell will have to lower the interest rate. …it is really the unemployment that is the factor…layoffs…ALSO, the S&P for this year was up 18%. Those like Barron’s (investment mag that you have to weigh the various POV, of course) said the year to end at 8-10% would be good…and we are at 10% now even w/ this correction… 😊 don’t fall for the clickbait
This has to do with the Japanese yen…it’s already over. But every Republican I know went directly to church to light a candle for a recession!! They did the same thing in 2022 praying for higher gas prices!! God is even pissed at Republicans and pretending he doesn’t know them!! 😂
C.P. RUFO, are you a bot, or is Christopher P. Rufo your real name, or are you masking yourself here by pretending to be someone you’re not? Hiding? You’re definitely not the highly regarded journalist C. Rufo most readers know and appreciate. (Link below)
Anyway, just wanted to put this out there…(repeat the line)…
Last night I said to my fellow political junkie… “ watch them blame the looming recession on Trump”…. Yep, by 8 am Mountain Time, the Biden Harris had issued a statement blaming “ the previous Administration “… How?? And I mean how??
Previous Adm. would be Biden.
🙌👍
However, you know, that's NOT what they meant.
Well, it could be bush’s fault. Or the guy behind the curtain. Or the pink 🦄. Certainly nothing that’s happened in the last four years.
In 2008 Republicans blamed everything on Jimmy Carter. 😂
To be fair, the housing bubble was quite a long time in the making and had a lot to do with the CRA and laws and rules surrounding "redlining", etc. No-doc lending and collateralized debt obligations can be traced back to distinct origins and didn't happen overnight.
Nope. The Housing Bubble was a symptom of a dysfunctional economy due to an energy crisis. Basically America had what amounted to a trillion dollar tax INCREASE on low wage earners over a 4 year period because of increased energy costs. That capital then came back into America because it wasn’t invested in energy production and wreaked havoc in our economy.
Interesting theory. Oil prices certainly could have had some contributing impact on the housing bubble, but pretty far fetched to say that it was the ONLY, or even primary factor and that lending standards, sub-prime loans, collateralized debt obligations, etc had nothing to do with it. More likely that the energy bubble was a symptom of a dysfunctional economy than the only/root cause of the dysfunction.
We had an energy crisis…not a bubble. So check out a graph of every major commodity from 2001-2008 and you will see an increase in price and an increase in supply…which is how markets are supposed to work. The only two commodities that didn’t see an increase in supply during that timeframe—global oil and North American natural gas. Those are literally the two most important commodities on the planet!! From 2007:
The oil-rich nations are also investing more in real estate, private equity funds and hedge funds, analysts say, and increasingly they are investing the money on their own, bypassing the major financial institutions of the United States and Europe.
“The oil-producing countries simply cannot absorb the amount of wealth they are generating,” said J. Robinson West, chairman of PFC Energy. “We are seeing a transfer of wealth of historic dimensions. It is not just Qatar and Abu Dhabi. Investment funds are being set up in places like Kazakhstan and Equatorial Guinea.”
When the money is fake, the rest of the economy is doomed to follow.
We've been trying to ignore monetary reality for so long, it's going to be a hell of a wake-up call.
By the way, the rest of that 'inflation' video is even worse. Kamala does attempt to answer the question by saying ports should be open 24/7 and we should pass the Build Back Better act because "it's free."
https://www.youtube.com/watch?v=ywQZVOgYlk0
There’s absolutely nothing going on between her ears.
And she believes computer data is stored in a cloud in the sky. Literally. We are the laughingstock of the world.
We’re running a v-e-r-y close second up here in Canada Blair!!
It would be interesting or maybe terrifying to go back 15 years and strip out all the fake money and Fed interventions.
If only we had a window into the simulation in which Ron Paul won in 2008/2012....
Yep, Trump plus Pelosi just meant the printing press was going nonstop for 7 months straight…Kamala is the candidate to reduce the deficit while Trump would just go bank to big spending.
And they would have kept it going if inflation hadn't started hitting people at street level. They wanted to spend another couple trillion dollars.
They did but it has had very positive results. The worst spending are the upper rate tax cuts that just increase asset inflation and result in higher insurance and property taxes.
Jordan, you are 100% correct in your analysis. There are three main reasons for our economic distress. The first is the FED (and the BIS), due to its incredible mishandling of the US economy and indiscriminate printing of worthless fiat currency, aka Federal IOUs (with the US taxpayer responsible for their payback). The second cause is the congress and President for their asinine spending. The third cause is us (the taxpayers) for beintg ignorant and apathetic, and playing games, aka, the stock market,without knowing the real rules. Ibelieve the situation is irreversible-- the whole financial system will collapse. To slow down the inevitable, we must get rid of the FED, elect new, smart and honest people to the Executive and legislative branches, and lastly, restore the value of the dollar by backing it with gold.
This is only the beginning but I have a feeling that given we're in election season that the Fed will continue to be the buyer of last resort. That said, me thinks the wave is even too big for this organization. Furthermore, once established a trend goes further and deeper than one expects. The real wild card is a war in the middle east... close off the oil from this region and the shit will really hit the fan. Pax
Here's an idea, stop giving billions of dollars that we don't have to fund the war in Ukraine and stop giving free $hit to the invaders over our southern border. That might help.
So Trump's $7.8B dollar deficit had nothing to do with it?
Neither side is interested in fixing the budget, they'd rather use it as a campaign cudgel.
His deficit was much less than Biden's deficit, and much of it was due to Covid, not Trumps fault. After the Trump tax reform, tax revenue went way up. All of Trumps actions stimulated and improved the economy.
Do the research. Trump's tax cuts did not pay for themselves. And then there's the profligate spending before Covid...
https://www.crfb.org/papers/trump-and-biden-national-debt
Try this research, from the House Budget Committee, "Face Check Alert: Debunking CRFB's Analysis of Trump and Biden Impacts on the National Debt" "Biden increases the deficit projections by a total of $4.8 Trillion over 10 years" Should come up on google, dismantles the CRFB's lies and omissions, and misdirections.
The debunking didn't deal with any of Trump's profligate spending... why not?
Compared to Biden, Trump was a penny pinching scrooge. Google: , Unleash Prosperity, "The Real Middle-Class President" "Incomes under President Trump, for the middle class, rose faster than under all the three previous presidents combined" Thats what matters most.
So deficits don't matter?
You have it backwards. And the trend under Obama was lower deficits which Trump reversed and it didn’t even result in higher GDP growth!?!
See my above comment.
The old saying is that they don't ring a bell at the top. The caveat is except for the top 5%. Those are the Wall Street insiders, the connected, the billionaires and the flush politicians.
The pathetic fact about that ditz is, to quote the criminal former Attorney General Eric Holder: "If you don't have the political parties identified on the ballot, the black people won't know who to vote for."
The problem is our nation is stuck with too many people who will vote for the person that represents their party on the ballot, instead of who will do the best for the nation. Which is how we ended up with Democrats being a major political party.
If political parties were subject to Truth in Labeling laws, the Democrats would have to identify as Communists on the ballot.
Kamala forgot to mention that when prices go up things get more expensive, but otherwise a scintillating answer.
Hope the Trump campaign plays this video over and over on national TV
Oh, my. She’s good
When do we start to call it ‘Harrisnomics’? Wasn’t she always ‘the last person’ in the room with Biden?
Dot com bubble? We came out better. The tree doesn’t grow to the sky forever! We have had corrections this year already! Ebbs and flows…. Computer driven…. Perhaps Powell will have to lower the interest rate. …it is really the unemployment that is the factor…layoffs…ALSO, the S&P for this year was up 18%. Those like Barron’s (investment mag that you have to weigh the various POV, of course) said the year to end at 8-10% would be good…and we are at 10% now even w/ this correction… 😊 don’t fall for the clickbait
Adding……….western countries all have open borders. Thanks for your work!
Good explanation of what is happening for those that don't know. Will be linking it tomorrow @https://nothingnewunderthesun2016.com/
Don't think it's going to turn around, however!!!
This has to do with the Japanese yen…it’s already over. But every Republican I know went directly to church to light a candle for a recession!! They did the same thing in 2022 praying for higher gas prices!! God is even pissed at Republicans and pretending he doesn’t know them!! 😂
C.P. RUFO, are you a bot, or is Christopher P. Rufo your real name, or are you masking yourself here by pretending to be someone you’re not? Hiding? You’re definitely not the highly regarded journalist C. Rufo most readers know and appreciate. (Link below)
Anyway, just wanted to put this out there…(repeat the line)…
https://en.m.wikipedia.org/wiki/Christopher_Rufo
We MUST stop the steal. I no longer trust the people working in government.