John and Havakasha were both logged on. I foresaw a flurry, but it appears John has left. John, left --- haha. Something should pop up from Lloyd here shortly. He's working hard at it.
And another thing, i quote from Mr. Poole repeatedly cause he is a Republican and a person of experience in the mortgage market. If i were to only quote Democrats i am quessing someone like you would simply call me partisan. i quess one cant win either way.
i was thinking more of dumbass as a school yard taunt,and some of the silly things you said to me but to each his own.
The use of the word coward (thought used in humor. See the difference? lol) does draw attention to your inability to call John out on anything and thems the facts. And this just proves it again.
I just cant agree that you have painted a " clear and compelling picture". i dont understand how someone who never heard of non-governmental mortgage lenders and didnt know the fact that 50% of all subprime loans originated with them can say he knows what he is talking about. It seems to me that you are the one who has demonstrated his partisan beliefs from the outset, and the fact is i have demonstrated that the financial and economic crisis has as its cause a complex set of circumstances which the private markets contributed greatly to. That has absolutely nothing to do with political parties and everything to do with facts.
im glad you find it ironic that i menitioned mr. Schiff. But once again note that the point of my post was about MR. LAFFER and supply side economics which somhow you fail to acknowledge knowing anything about or even commenting about. IF you fail to know anything about supply side economics
and or non governmental mortgage lenders is it any wonder that people get kind of concerned about the gaps in you knowledge base. oh yeah forgot the one where you didnt even know the Republicans controlled the House, Senate, and Presidency for 6 years during Bush's term or that Bush made his main policy prescription the "ownership society".
P.S. Can you think of any other criminals in this financial mess besides Dems? LMFAO. And you are not partisan? My ass.
Last edited by Havakasha; 09-08-2010 at 03:45 PM.
PS - I took economics in grad school. Got an "A". Easy stuff compared to physical chemistry.
No dumbass you missed the point totally as usual. Do I really need to go on about all the economist and democrats that believed and said if we only passed the Obama stimulas that we would not go over 8% unemployment. Do I really need to go over all the economist, president and democrats that believed this was the recovery summer.
So if all those democrats (who were suppose to be "in the know" and were warned time and time again) did not know how bad the housing bubble was then how was laffer. Laffer's theory has nothing to do with housing it has everything to do with income tax rates. It was the HOUSING BUBBLE THAT BURST THAT CAUSED THIS DEEP RECESSION!!!!!! NOT THE BUSH TAX CUTS. Fanny and Freddy were the ROOT CAUSE of this deep recession.
The point is, since you feel that way about laffer for not seeing the future in housing, then you also have to feel that every democrat that was saying Fanny and Freddy are doing, "Fine" and "a good job" should be tossed out on there ear, right.
So now here it comes the game ender:
"Orszag: Extend The Bush Tax Cuts"
Yes he is saying ALL of them!!!!!!
We know you are the dumbass that has been proven time and time again.
That is the game, set, and match, you dumb twit.
SiriuslyLong do you see how he brings up this:
" i dont understand how someone who never heard of non-governmental mortgage lenders and didnt know the fact that 50% of all subprime loans originated with them can say he knows what he is talking about."
It is clear that it is he that does not get it OR is just blantantly being dishonest. I have told him several times what happen. He ether has forgotten or is dishonest.
ACORN lobbied congress to get banks to make those loans, Congress then told banks they could not get mergers done that they wanted because they were not making enough loans to lower income families. Banks in front of congressional committees, told them they could not make those types of loans because they could not sell them to other larger banks (Fanny and Freddy). That those types of loans would not get passed the current regulations. That is when the DEregulation of Fanny and Freddy came into play. I will also say that many republicans were involved in that deregualtion of Fanny and Freddy. The difference is when it started to look like there was going to be a problem with that, in 2002, 2003, 2004 and in 2006, the republicans told the democrats, wait, wait, wait, stop, stop, stop, because we are going to have a problem if we dont.
So you have to ask yourself is Havasucker that stupid that he does not know that all those banks that originated the loans would eventually have to sell those loans to someone (Fanny or Freddy). OR is he being totally dishonest to think those banks had an endless amount of cash to put into those kinds of loans.
Fact: Almost ALL mortgages are sold off from the bank that originated it.
Fact: Fanney and Freddy bought most of those mortgages.
John's hero Mr. Laffer in August, 2006
"THE UNITED STATES ECONOMY HAS NEVER BEEN IN BETTER SHAPE"
You really dont know anything about tennis do you? That is defintiely
GAME. SET. MATCH.
He not only said everything was ok with the US economy but he said that
"it has never been in better shape" You cant be any more off and he is your
economic mentor and savoir? Wow. just wow. Check out Paul Krugman and Mr. Roubini's analysis at the time.
To try to compare this with Democrats being off about the unemployment rate is absolutely embarassing. You really need to take LOGIC 101 again.
Dont worry i will get to the Orszag article and the stuff on stimulus etc.
Last edited by Havakasha; 09-08-2010 at 03:35 PM.