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RIP George Bush

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RIP George Bush
Post by Annachie   » Sat Dec 01, 2018 2:41 am

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Age 94.
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still not dead. :)
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Re: RIP George Bush
Post by Daryl   » Sat Dec 01, 2018 5:54 am

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One of the better ones. No bone spurs. Rest in Peace.

Annachie wrote:Age 94.
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Re: RIP George Bush
Post by gcomeau   » Sat Dec 01, 2018 10:57 am

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Daryl wrote:One of the better ones. No bone spurs. Rest in Peace.

Annachie wrote:Age 94.


Well of the last 5 GOP presidents we had

Nixon: Committed treason with the Vietnamese to get elected, then a criminal in office

Reagan: Committed Treason with the Iranians and a criminal in office with the Contras.

Bush Sr: Meh

Bush Jr: Committed War Crimes and presided over the total implosion of the entire economy nearly triggering the second Great Depression

Trump: Lying Incompetent Embarassing Idiot Criminal who quite possibly was involved with an act of Treason


Gonna go ahead and call Bush Sr the best GOP president of my lifetime.
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Re: RIP George Bush
Post by Imaginos1892   » Sat Dec 01, 2018 11:21 am

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gcomeau wrote:Reagan: Committed Treason with the Iranians and a criminal in office with the Contras.

…brought about the end of the Soviet Union…

He saw that our economy was twenty times the size of Russia's, and figured that if we spent 2 percent of our GNP on the military, they'd have to spend 40 percent of theirs to keep up. He bankrupted the communists.

gcomeau wrote:Bush Jr: Committed War Crimes and presided over the total implosion of the entire economy nearly triggering the second Great Depression

That was caused by Clinton, it just took eight years to reach critical mass and implode.
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Why do so many idiots believe that the way to solve our problems is to keep voting for the same shitheads that caused them?
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Re: RIP George Bush
Post by jchilds   » Sat Dec 01, 2018 11:56 am

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Ford doesn't rate as a President? :o
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Re: RIP George Bush
Post by gcomeau   » Sat Dec 01, 2018 12:21 pm

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jchilds wrote:Ford doesn't rate as a President? :o


Nah, if he didn't get elected and serve a full term he doesn't count in my book. He was just Nixon's s substitute placeholder.
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Re: RIP George Bush
Post by gcomeau   » Sat Dec 01, 2018 12:29 pm

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Imaginos1892 wrote:
gcomeau wrote:Reagan: Committed Treason with the Iranians and a criminal in office with the Contras.

…brought about the end of the Soviet Union…

He saw that our economy was twenty times the size of Russia's, and figured that if we spent 2 percent of our GNP on the military, they'd have to spend 40 percent of theirs to keep up. He bankrupted the communists.


And laid the foundation for the gutting of the American middle class while that happened.

Besides the... you know... TREASON AND CRIMINALITY.

gcomeau wrote:Bush Jr: Committed War Crimes and presided over the total implosion of the entire economy nearly triggering the second Great Depression

That was caused by Clinton, it just took eight years to reach critical mass and implode.


That was caused by 30 years of financial deregulation which yes Clinton participated in but it spent 8 entire years reaching critical mass under Bush and he just kept pushing deregulation until it all exploded so yeah, saying Clinton had primary responsibility is pretty ludicrous.

And we all know which party fetishizes deregulation rather than was just temporarily complicit in it.
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Re: RIP George Bush
Post by Imaginos1892   » Sat Dec 01, 2018 3:42 pm

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You really don't remember what happened? Because I sure do. I was there.

Starting in 1999 the government forced banks to make loans to borrowers in ‘depressed neighborhoods’. 'Disadvantaged people' who didn’t qualify for mortgages under the banks’ rules. That brought millions more buyers into the real estate market, artificially increased demand, and pushed prices up. The banks were pressured to make more loans, and bigger ones, to keep up with the ‘rising market’. Existing owners, not wanting to be left out of the boom, started refinancing or taking out second mortgages, to cash out all that increasing equity. Others started buying and selling houses like baseball cards, and brokerages made up ‘financial derivatives’ for more complex shenanigans. The banks were not concerned, because all those mortgages were secured by real estate that was rapidly escalating in price. Up and up and up it went until late 2006, when two things happened.

Prices got too high for new buyers to get into the market, and a lot of those loans that should never have been made started coming apart. ‘Disadvantaged’ borrowers defaulted in growing numbers, and foreclosed properties flooded the market right when demand was falling. The rising market inverted into a declining market. Millions of houses were now worth less than the mortgages; owners and banks alike panicked. Mortgage requirements were made even more stringent than before it all started, further reducing the number of buyers. Prices dropped in the shitter as the ‘free money’ that had been propping them up vanished.

Clinton was safely out of office when his buzzards came home to roost. They tried to blame it all on Bush Jr. but it was Clinton’s ‘Community Reinvestment Act’ that caused it. The government blew up the real estate bubble, and then the government popped it. Clinton ‘helped’ all those ‘poor minorities’ straight into foreclosure, and kicked off the financial meltdown of 2007. Way to go, Billy!
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If a business does something and it doesn't work, they have to stop doing it or they will go broke. If the government does something that doesn't work, they will keep shoveling our money into it forever.
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Re: RIP George Bush
Post by Annachie   » Sat Dec 01, 2018 10:39 pm

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You might want to go revisit some of that Imaginos.

You forgot the Fed lowering the interest rate to around 1% in 2001, which is a big part of what increased the cost of homes a few years later, which had steadily been increasing for 20 odd years before that. (Which was in response to the .com bubble of the 1990's which had also caused a bump in the rise of house sales)
That the regulations you appear to be refering to date back to the 1970's.
Introductory interest rates, which I don't like, that happened to end at the same times rates started rising causing people to suffer a double whack.
Banks bundling good loans with iffy loans and then selling the bundle off.

Added that the housing bubble was accross multiple countries. Even here in Oz. I bought my first house in 1999. I was damn aware of what house prices were doing at the time :)

Hell, it's an event so complex that books were written on the thing.

Yes, Clinton as the head regulator dropped the ball. Greenspan too.
But then Trump has now come along and removed all those protections that were put in place to try and prevent the next one.
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You are so going to die. :p ~~~~ runsforcelery
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still not dead. :)
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Re: RIP George Bush
Post by Imaginos1892   » Sun Dec 02, 2018 12:11 am

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Oh, there was a lot of other monkey business going on, but Clinton's 'Community Reinvestment Act' was what kicked off the bubble, and provided most of the impetus behind the price escalation.

Annachie wrote:You forgot the Fed lowering the interest rate to around 1% in 2001, which is a big part of what increased the cost of homes a few years later, which had steadily been increasing for 20 odd years before that.

Steadily increasing, not shooting up 15% a year, which started in late 1999 — before the Fed cut rates.

Annachie wrote:Banks bundling good loans with iffy loans and then selling the bundle off.

That was part of the monkey business, but they pretty much had to sell off those loans and recover the capital to make more loans, under the 'Community Reinvestment Act' guidelines.

Bottom line, the government required lenders to fund mortgages that should never have been made, pushing prices up. When those loans defaulted, flooding the market with foreclosed properties, prices dropped in the shitter.

I bought a property in 2003, so I saw it all. Of course, I was bright enough to make a decent down payment and get a fixed-rate mortgage, and I didn't panic and sell when the bottom fell out. The prices have recovered nicely now.
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