B-Man Posted July 6, 2021 Share Posted July 6, 2021 Democrats Are Trying to Recreate the 2008 Financial Crisis and You Should Be Asking Why Yesterday evening, I stumbled across a news story over at Politico that I had to double-check the date on. It read like something you would have seen in 2006, when sub-prime mortgages were being pushed by the government to increase homeownership for low-income individuals, ultimately leading to the 2008 financial collapse. But no, it’s from the present day. The problem with this is simple. You can not “expand” access to a loan that a person is not qualified for and not have it lead to financial ruin for everyone involved. Guidelines for credit scores, down payments, and held capital to receive loans exist for a reason, and it’s not because banks want to limit their customer base. Rather, it’s because lending to low-income individuals who have terrible credit and no ability to pay back a loan is asinine. It ensures the low-income individual sinks further into financial despair while the bank is left holding the bag, and in the case of 2008, taxpayers were ultimately put on the hook for ensuring a complete collapse didn’t occur. Given that, what politician in their right mind would stump for increased access to loans for low-income individuals outside of the already fairly lax restrictions in regards to getting an FHA loan? That’s a good question, and it’s one not likely to be answered with any logical consistency. Instead, my suspicion is that Democrats think another housing crisis would benefit their political wants. After all, what better way is there to delegitimize the housing market than to cause its collapse, thereby justifying a bigger, more expensive, more powerful government to “solve” the problem? https://redstate.com/bonchie/2021/07/06/democrats-are-trying-to-recreate-the-2008-financial-crisis-and-you-should-be-asking-why-n407219 Link to comment Share on other sites More sharing options...
B-Man Posted July 7, 2021 Share Posted July 7, 2021 1 Link to comment Share on other sites More sharing options...
Doc Brown Posted July 7, 2021 Share Posted July 7, 2021 10 hours ago, B-Man said: Instead, my suspicion is that Democrats think another housing crisis would benefit their political wants. After all, what better way is there to delegitimize the housing market than to cause its collapse, thereby justifying a bigger, more expensive, more powerful government to “solve” the problem? Ah, yes. Democrats want the market to have a 2008 market type collapse leading to a recession going into 2024 because that's what wins elections. Link to comment Share on other sites More sharing options...
Big Blitz Posted July 7, 2021 Author Share Posted July 7, 2021 10 hours ago, B-Man said: Democrats Are Trying to Recreate the 2008 Financial Crisis and You Should Be Asking Why Yesterday evening, I stumbled across a news story over at Politico that I had to double-check the date on. It read like something you would have seen in 2006, when sub-prime mortgages were being pushed by the government to increase homeownership for low-income individuals, ultimately leading to the 2008 financial collapse. But no, it’s from the present day. The problem with this is simple. You can not “expand” access to a loan that a person is not qualified for and not have it lead to financial ruin for everyone involved. Guidelines for credit scores, down payments, and held capital to receive loans exist for a reason, and it’s not because banks want to limit their customer base. Rather, it’s because lending to low-income individuals who have terrible credit and no ability to pay back a loan is asinine. It ensures the low-income individual sinks further into financial despair while the bank is left holding the bag, and in the case of 2008, taxpayers were ultimately put on the hook for ensuring a complete collapse didn’t occur. Given that, what politician in their right mind would stump for increased access to loans for low-income individuals outside of the already fairly lax restrictions in regards to getting an FHA loan? That’s a good question, and it’s one not likely to be answered with any logical consistency. Instead, my suspicion is that Democrats think another housing crisis would benefit their political wants. After all, what better way is there to delegitimize the housing market than to cause its collapse, thereby justifying a bigger, more expensive, more powerful government to “solve” the problem? https://redstate.com/bonchie/2021/07/06/democrats-are-trying-to-recreate-the-2008-financial-crisis-and-you-should-be-asking-why-n407219 What a f....ing nightmare 5 minutes ago, Doc Brown said: Ah, yes. Democrats want the market to have a 2008 market type collapse leading to a recession going into 2024 because that's what wins elections. The Democrats only play the long game. They'll worry about the next rigged election when it's time and have the People's Republic of Silicon Valley to help them 1 Link to comment Share on other sites More sharing options...
Doc Brown Posted July 7, 2021 Share Posted July 7, 2021 4 minutes ago, Big Blitz said: The Democrats only play the long game. They'll worry about the next rigged election when it's time and have the People's Republic of Silicon Valley to help them LOL. Justify the flawed logic of one bat$$hit crazy conspiracy theory by creating a new one. Link to comment Share on other sites More sharing options...
Big Blitz Posted July 7, 2021 Author Share Posted July 7, 2021 27 minutes ago, Doc Brown said: LOL. Justify the flawed logic of one bat$$hit crazy conspiracy theory by creating a new one. They designed Obamacare to fail as well. It was the starter home. 12 years later - its on to Universal Healthcare Housing crisis? 10 Years from now - guaranteed housing for all - paid with other people's money. The new Communist Mayor of Buffalo is freaking telling you this. Link to comment Share on other sites More sharing options...
Irv Posted July 7, 2021 Share Posted July 7, 2021 Simply amazing how quickly senile Joe and his Squad messed things up so badly. What a mess. https://www.foxnews.com/politics/lindsey-graham-amazed-at-how-badly-bidens-first-six-months-have-been 1 Link to comment Share on other sites More sharing options...
Doc Posted July 7, 2021 Share Posted July 7, 2021 20 hours ago, B-Man said: Democrats Are Trying to Recreate the 2008 Financial Crisis and You Should Be Asking Why Yesterday evening, I stumbled across a news story over at Politico that I had to double-check the date on. It read like something you would have seen in 2006, when sub-prime mortgages were being pushed by the government to increase homeownership for low-income individuals, ultimately leading to the 2008 financial collapse. But no, it’s from the present day. The problem with this is simple. You can not “expand” access to a loan that a person is not qualified for and not have it lead to financial ruin for everyone involved. Guidelines for credit scores, down payments, and held capital to receive loans exist for a reason, and it’s not because banks want to limit their customer base. Rather, it’s because lending to low-income individuals who have terrible credit and no ability to pay back a loan is asinine. It ensures the low-income individual sinks further into financial despair while the bank is left holding the bag, and in the case of 2008, taxpayers were ultimately put on the hook for ensuring a complete collapse didn’t occur. Given that, what politician in their right mind would stump for increased access to loans for low-income individuals outside of the already fairly lax restrictions in regards to getting an FHA loan? That’s a good question, and it’s one not likely to be answered with any logical consistency. Instead, my suspicion is that Democrats think another housing crisis would benefit their political wants. After all, what better way is there to delegitimize the housing market than to cause its collapse, thereby justifying a bigger, more expensive, more powerful government to “solve” the problem? https://redstate.com/bonchie/2021/07/06/democrats-are-trying-to-recreate-the-2008-financial-crisis-and-you-should-be-asking-why-n407219 Low IQ ones, that's who. Link to comment Share on other sites More sharing options...
BillStime Posted July 7, 2021 Share Posted July 7, 2021 17 minutes ago, Irv said: Simply amazing how quickly senile Joe and his Squad messed things up so badly. What a mess. https://www.foxnews.com/politics/lindsey-graham-amazed-at-how-badly-bidens-first-six-months-have-been Lindsay Graham? Trumps lap dog? LMAO? Why isn’t Lindsay in jail for calling and coercing Secretaries of States encouraging them to flip their states? Irv - you are a mess. Keep up the good work. 1 1 Link to comment Share on other sites More sharing options...
B-Man Posted July 7, 2021 Share Posted July 7, 2021 U.S. gas prices highest in 7 years, up 40% since January CBS News, by Kate Gibson https://www.cbsnews.com/news/gas-prices-highest-in-7-years/ 1 Link to comment Share on other sites More sharing options...
ALF Posted July 7, 2021 Share Posted July 7, 2021 11 minutes ago, B-Man said: U.S. gas prices highest in 7 years, up 40% since January CBS News, by Kate Gibson https://www.cbsnews.com/news/gas-prices-highest-in-7-years/ They keep reporting there is a lack of tanker drivers, many laid off during covid moved on to other trucking jobs or retired. There is ample supply of gasoline not enough tanker drivers. 2 Link to comment Share on other sites More sharing options...
Irv Posted July 7, 2021 Share Posted July 7, 2021 2 minutes ago, ALF said: They keep reporting there is a lack of tanker drivers, many laid off during covid moved on to other trucking jobs or retired. There is ample supply of gasoline not enough tanker drivers. Maybe a pipeline could help? Thanks Biden/Squad. What a mess. 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted July 7, 2021 Author Share Posted July 7, 2021 (edited) Don't forget Dems may be saying this is a policy for the cities - its b.s. They want the localities (in the suburbs) to remove the Single Family Ordinance so that they can move more people from inner cities to the suburbs: President Joe Biden wants cities to put more apartment buildings and multifamily units, such as converted garages, in areas traditionally zoned for single-family housing. As part of his $2.3 trillion infrastructure plan, cities would allow for smaller lots and for apartment buildings with fewer than six units to be built next to a traditional house. Current zoning laws that favor single-family homes – known as exclusionary zoning – have disproportionately hurt low-income Americans. Many of them can't afford to buy a big lot of land, leaving them trapped in crowded neighborhoods earmarked in the past for Black and brown residents, while white families were able to move to single-family areas in the suburbs. Biden’s proposal would award grants and tax credits to cities that change zoning laws to bolster more equitable access to affordable housing. A house with a white picket fence and a big backyard for a Fourth of July barbecue may be a staple of the American dream, but experts and local politicians say multifamily zoning is key to combating climate change, racial injustice and the nation's growing affordable housing crisis. https://www.usatoday.com/in-depth/news/nation/2021/04/14/zoning-biden-infrastructure-bill-would-curb-single-family-housing/7097434002/ Edited July 7, 2021 by Big Blitz Link to comment Share on other sites More sharing options...
B-Man Posted July 7, 2021 Share Posted July 7, 2021 Embarrassing. 1 1 Link to comment Share on other sites More sharing options...
Irv Posted July 7, 2021 Share Posted July 7, 2021 1 hour ago, B-Man said: Embarrassing. Democrat logic: I'm drowning. Throw me some bricks. What a mess. 1 Link to comment Share on other sites More sharing options...
B-Man Posted July 12, 2021 Share Posted July 12, 2021 RASMUSSEN: Economic Confidence Down Again in July. https://www.rasmussenreports.com/public_content/business/consumer_spending_update/consumer_spending_update_economic_confidence_down_again_in_july Link to comment Share on other sites More sharing options...
Westside Posted July 12, 2021 Share Posted July 12, 2021 26 minutes ago, B-Man said: RASMUSSEN: Economic Confidence Down Again in July. https://www.rasmussenreports.com/public_content/business/consumer_spending_update/consumer_spending_update_economic_confidence_down_again_in_july That can’t be true!!! The radical anarchists on the left told us it’s the greatest recovery ever!! Link to comment Share on other sites More sharing options...
Big Blitz Posted July 12, 2021 Author Share Posted July 12, 2021 (edited) $15 an hour isn't buying you gas and groceries. Some quick math: 15 x 40 = 600. So $2400 a month. After taxes that's about $2000 or less. Minimum 4 trips to the gas station = $150 to 200.....and rising. Food = Let's say $400.....and rising. So we're down to $1400 or less left per month - have we gotten to rent yet? Your phone and streams of choice bills? Easily another $200. And if you're going to say "this wage isn't really for people paying rent yet. They still live at home." Really? Then why do they need $15 an hour? Why are they calling it a liveable wage? My 15 year old doesn't need $15 an hour he needs to learn how to value hard work and that his job is always at risk of being replaced by a machine or virtual learning. Another total sham. "Liveable wage." Yea let them start telling you what that is. We're so stupid. Political football designed to fire up the union folks and the 18 to 21 year old vote nothing more. And create cost increases on the consumer and employer. That has made doing business near impossible. Guaranteed that Fight for $15 becomes Fight for $30 by 2022 campaign season. Set that in stone. We were debating $15 way way way way way way back in 2012. Rapid inflation has made this debate totally worthless. *checks notes* What did we do in the early 80s to deal with inflation? Did we raise the minimum wage? In 1970 it was $10 in today's dollars. In 1985 it was $7.82. Keeping it flat from 1980 and beyond. It 1995 it was $4.25. $7 today. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/ There is absolutely zero correlation with minimum wage increases and economic growth. None. It's the opposite. Edited July 12, 2021 by Big Blitz 1 Link to comment Share on other sites More sharing options...
B-Man Posted July 12, 2021 Share Posted July 12, 2021 Guys, CNN wants us all to stop attacking Biden over GAS prices because it’s really NOT his fault and he just CAN’T HELP IT https://twitchy.com/samj-3930/2021/07/12/guys-cnn-wants-us-all-to-stop-attacking-biden-over-6-gas-because-its-really-not-his-fault-and-he-just-cant-help-it/ Link to comment Share on other sites More sharing options...
Chef Jim Posted July 12, 2021 Share Posted July 12, 2021 (edited) 3 hours ago, Big Blitz said: $15 an hour isn't buying you gas and groceries. Some quick math: 15 x 40 = 600. So $2400 a month. After taxes that's about $2000 or less. Minimum 4 trips to the gas station = $150 to 200.....and rising. Food = Let's say $400.....and rising. So we're down to $1400 or less left per month - have we gotten to rent yet? Your phone and streams of choice bills? Easily another $200. And if you're going to say "this wage isn't really for people paying rent yet. They still live at home." Really? Then why do they need $15 an hour? Why are they calling it a liveable wage? My 15 year old doesn't need $15 an hour he needs to learn how to value hard work and that his job is always at risk of being replaced by a machine or virtual learning. Another total sham. "Liveable wage." Yea let them start telling you what that is. We're so stupid. Political football designed to fire up the union folks and the 18 to 21 year old vote nothing more. And create cost increases on the consumer and employer. That has made doing business near impossible. Guaranteed that Fight for $15 becomes Fight for $30 by 2022 campaign season. Set that in stone. We were debating $15 way way way way way way back in 2012. Rapid inflation has made this debate totally worthless. *checks notes* What did we do in the early 80s to deal with inflation? Did we raise the minimum wage? In 1970 it was $10 in today's dollars. In 1985 it was $7.82. Keeping it flat from 1980 and beyond. It 1995 it was $4.25. $7 today. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/ There is absolutely zero correlation with minimum wage increases and economic growth. None. It's the opposite. Most people that live on minimum wage share rent/entertainment (cable/streaming)/utilities via a significant other or a roommate/roommates so based on that your math is off. Edited July 12, 2021 by Chef Jim Link to comment Share on other sites More sharing options...
Recommended Posts