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Old Dec 03, 2012, 10:59 PM
Registered User
Houston Ellington, Texas, United States
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This is what a bubble looks like...

Housing Happiness (2 min 34 sec)


cool music too ...
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Old Dec 04, 2012, 12:03 AM
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College Park, MD
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AKA the Bush Prosperity.
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Old Dec 04, 2012, 06:31 AM
Chillin till SEFF
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Warner Robins, GA
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Sub prime and belief that they would never drop

Greed

Gambled and lost
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Old Dec 04, 2012, 10:58 PM
Watts is life...
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http://www.thestreet.com/story/11783...cm_ven=GOOGLEN

Excellent… rising prices and falling wages... what should we call it?

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Old Dec 04, 2012, 11:58 PM
D W
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United States, NY, Pelham
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Originally Posted by bildo baggins View Post
Sub prime and belief that they would never drop

Greed

Gambled and lost
Yup.
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Old Dec 05, 2012, 12:28 AM
LcJ
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Much akin to gambling......and most of was with other people's money......
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Old Dec 05, 2012, 01:09 AM
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Can't blame them for gambling as long as Uncle Sam had their backs when they ran out of chips.
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Old Dec 05, 2012, 06:10 AM
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Originally Posted by rcjetpilot View Post
Excellent… rising prices and falling wages... what should we call it?

Biflation or Stagflation.

This is only getting started. Get ready for one of two lost decades.
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Old Dec 05, 2012, 06:19 AM
Chillin till SEFF
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Zombie apocalypse

Hardened shelter and logistics key
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Old Dec 05, 2012, 10:54 AM
FrankC
Ocala, Florida
Joined Jun 2007
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The housing bubble absolutely was not the fault of the Bush Administration or the Republicans. Beginning in 2001 and continuing to the collapse, they repeatedly spoke out about the issue and attempted to bring it back under control, but all efforts were blocked by the Democrats led by Schumer and Frank. I challenge you to actually WATCH the video clip I am linking, and try to dispute the facts presented:

Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown (4 min 0 sec)


The video includes quotes and actual interviews and statements, dispute the facts.

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AKA the Bush Prosperity.
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Old Dec 05, 2012, 11:07 AM
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College Park, MD
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Right. Fox News... The housing bubble was caused by Barney Frank wanting to get low income people into homes.

Believe what you want to believe.

Quote:
"Under Republican President George W. Bush, many federal agencies turned a blind eye to activities which would later precipitate the global financial meltdown. The Securities and Exchange Commission decided to allow the nation's largest financial institutions to "self-regulate;" the Federal Reserve under Alan Greenspan declined to use its power to regulate subprime mortgages; the Comptroller of the Currency decided to preempt state consumer laws on subprime mortgages."
Quote:
"As the FCIC staff reports demonstrate fairly conclusively, it was the shadow banking system's unregulated private securitization of mortgages that caused the financial crisis, not affordable housing policies."
http://www.huffingtonpost.com/marvin...b_1549411.html
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Old Dec 05, 2012, 11:18 AM
Watts is life...
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Originally Posted by thunder1 View Post
Right. Fox News... The housing bubble was caused by Barney Frank wanting to get low income people into homes.

Believe what you want to believe.
Lowering the bar, the measure, to equalize "home ownership" was the root cause. Such engineering schemes fail catastrophically, each and every time…
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Old Dec 05, 2012, 01:58 PM
FrankC
Ocala, Florida
Joined Jun 2007
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OK, the statements made by Schumer and Frank don't count because they were broadcast by Fox News. That totally invalidates them, they never happened. The rules and regulations that caused the problems were put in place by Clinton and the Democrats in the 1990's. As early as 2001 Bush and other Republicans (and even Greenspan) were pointing out that problems were coming. The Democrats blocked all efforts to address the issues although you will probably deny that, probably because that information was also broadcast by Fox News making it meaningless. Yep, you got it all covered.
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Old Dec 05, 2012, 02:47 PM
Watts is life...
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OK, the statements made by Schumer and Frank don't count because they were broadcast by Fox News. That totally invalidates them, they never happened.
U have 100% correctly identified the world we live in today. See, if good-ole-chucky spoke the same words on say... mslsd....(MSNBC) , when then, the words would be fully supported by...the 52% problem makers
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Old Dec 05, 2012, 03:05 PM
Cat Rack
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Lyle, WA
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Quote:
Originally Posted by thunder1 View Post
Right. Fox News... The housing bubble was caused by Barney Frank wanting to get low income people into homes.

Believe what you want to believe.
Me, I'm into believing what valid reasoning shows to be the truth.

The housing bubble was partly caused by wanting to get low income people into homes and then acting on that basis to distort market processes via the State.

Allowing them to get credit which was not market created by actual market forces, injects more bidding power into markets in the form of easy cash, which necessarily bids up prices.

Having such fundamentals be seen as beyond the pale is what shows where the responsibility for these damaging effects comes from. It comes from those who think adding buyers, and money, to a marketplace cannot be responsible for rising prices which come from more demand and the resources to bid up prices, and who then support State action in ways which attempt to contradict, or ignore, these fundamental truths.
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