Barack Obama’s disastrous first 1,000 days

You are very correct, FearandLoathing.

And here is why.

Democrats were WARNED of Financial crisis and did NOTHING

[ame="http://www.youtube.com/watch?v=LPSDnGMzIdo"]Democrats were WARNED of Financial crisis and did NOTHING - YouTube[/ame]

 

Without govt interference, housing booms continue as long as the population grows and land doesn't.
I have been in the housing market for 50 years. It grew every year. My first house was $93.00 a month, PITI. for a 3 bedroom, full basemant in a nice neighborhood. My last, $1.2 million for not quite twice the house and twice the land. Without govt interference, trying to get unqualified buyers into houses they could not afford, that last house should have been $2-300,000.
In my 7 plus decades, housing prices NEVER fell until the govt attempted to enrich the market, and AS USUAL, experienced "unintended consequences."

 

You are correct, Dan 40.

The same is true of the government student loan program.

College tuition costs were reasonable until the government became involved.

And then the colleges and universities raised their tuition costs to whatever the market would bear.

Thanks to the Democrats, students now have government loans it will take them a lifetime (or more!) to pay off!

 

Not only that, Never Left.

He is also a extremely skilled and accomplished liar!

OBAMA PATRIOT ACT LIE​

[ame="http://www.youtube.com/watch?v=gF3MC-TkpRQ"]obama patriot act lie - YouTube[/ame]

Obama Renews PATRIOT Act ​

[ame="http://www.youtube.com/watch?v=vqXmQYHV-1I"]Obama Renews PATRIOT Act - YouTube[/ame]

 

You are very correct, Don Glock.

Here is the truth the Obamabots want to forget!

... And for good reason!

Democrats were WARNED of Financial crisis in 2001 and again in 2003 and did NOTHING

[ame="http://www.youtube.com/watch?v=LPSDnGMzIdo"]Democrats were WARNED of Financial crisis and did NOTHING - YouTube[/ame]

 

You are correct, BroncoBilly.

Felonious Munk presents a lot of wisdom in this video!

Someone need to explain to the OWS crowd that our government has caused this mess!

Felonious Munk Presents: Stop It B! OBAMA PAY YOUR &*%$#% BILLS

[ame="http://www.youtube.com/watch?v=tRmZ9zH-mYM"]Felonious Munk Presents: Stop It B! OBAMA PAY YOUR &*%$#% BILLS - YouTube[/ame]

 

the bank swaps with the banks was no big deal as they were government guaranteed loans anyways.....the government did it to provide liquidity to the banks...there was no risk to the banks even if the money was not swapped because of the guarantee.

Also...rememember that housing is still booming in Canada so the chapter of collapsing values and underwater mortgages has yet to be written.....I am sure there will be problems once housing collapses and that should happen when interest rates finally rise!

 

Sounds like a toxic asset buy up to me...to the tune of about $900 billion (if converted to the American economy).

And much of that $75 billion cost taxpayers as it was added to the federal deficit for 2009 (which was a staggering $55 billion in '09/'10...EASILY the largest in Canadian history).

http://en.wikipedia.org/wiki/Canadian_public_debt

My point is that the Canadian banks are not better off because they are run by smarter people.

They just are set up not to lose...on the backs of Canadian taxpayers.


And the Canadian real estate market is growing (imo) mostly because Canadians are going FAR too much into debt. Something Carney has been practically screaming at them to stop doing...though he does not seem to have the guts to raise interest rates enough to slow them down.

The Canadian real estate market is in a bubble...not as big as in '07/'08. But a bubble nonetheless...and it is going to pop...imo.

 

the candian market is definately in a bubble....no question.....but there are no liar loans here and you need to put at least 10% to buy a home and you must "QUALIFY" for the loan. Also in order to get the loan with only 10% you must get a CMHC insured loan....CNHC gives that insurance by charging an extra 1% on the loan......so if you get a 5% mortgage from the bank then CMHC chagres an extra 1% ontop as their premium so you pay 6% interest on your mortgage. So the system is self funded with no taxpayer money needed.

Now having said that I already said that once the boom dies then their will definately be pain. 10% is definately not enough and there will be underwater mortgages, especially in condos. But I still don't think it will get as bad as in the US.

 

I meant taxpayers money in the $75 billion (equivalent of about $900 billion in America) to 'prop up' CMHC from the government.

I have lived in Canada, held mortgages and dealt with Canadian banks.

The Canadian banking system is, IMO, not NEARLY as great as the world seems to think it is.

1) there was the 'toxic asset buy ups' I mentioned above (which most Canadians barely noticed when it went through), which shows the system is not bullet proof.

2) the system is a semi-monopoly - with all the negatives that this entails like high fees, iffy service, a rather arrogant attitude that the banks have and the tight controls and restrictions that CMHC puts on the whole industry.
Fees alone can be massively higher at Canadian banks then at their US counterparts strictly because the former have little incentive to lower them.

Sure, the Canadian banking system makes Canadians feel all warm and fuzzy about their banks.
But the system just hurts those Canadians that understand business to help those that do not have a clue, IMO.

Like the Canadian health care system, I believe it could use a dose of free enterprise.

 

Thanks for sharing, DA60.

 

You are very correct, Eighty Deuce.

Did you see this shootout between Bill O'Reilly and Barney "Freddie" Frank?

Bill O'Reilly flips out on Barney Frank - BANKING CRISIS mad screaming match

[ame="http://www.youtube.com/watch?v=aIm5Mp-mmRU"]Bill O'Reilly flips out on Barney Frank - BANKING CRISIS mad screaming match - YouTube[/ame]

 

Frank should be prosecuted for dozens of different crimes against the nation.
Frank, and Dodd before him are the poster boys for TERM LIMITS.
Frank, and Dodd before him are retiring to avoid getting kicked out on their asses. Dodd could read the handwriting on the wall before the spitting lisper Frank.

Not that there aren't a number of Republicans that also prove the case for term limits.

 

You are correct on all points, Dan!

 

Show me a marxist govt that hasn't failed! The European crashes are due to socialist policies.

 

He got Bin Laden.

 

He owns the continuation of the disaster and his poor decisions that mae it worse!

 

When Obama took office, the economy was tanking at a -7% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing upward, and the stock markets were crashing in the worst recession in 80 years. The housing market was destroyed and we were headed straight for a depression.

But now the economy has been growing steadily for more than two years, the private sector has created jobs every month for more than a year and a half, stock markets are up about 90% from their recession lows, and the unemployment rate has fallen from above 10% to 8.6%, and about 5 million private sector jobs have been added since Jan 2010.

You want to give Obama credit for "owning" that huge economic turnaround, I'm sure he'd be happy to take that.

 

Recession recover all by themselves without any government action. One only needs to look at recoveries from past recessions and we can see Obama has merely prolonged it. The recession was over in March 2009, before any of Obamas policies had even been implemented. So no, he gets no credit for extending the economic doldrums.

 

So your position is any bad economic news is all Obama's fault while any good news is because of a natural recovery.

What a surprise.

 

Then there must be Proof.Unless yer like Ed Schultz and take
Obama at his word.Does it ever occur to any sane mortal that
maybe Obama's word is Mud.It was back during his Campaign.
He basically Lied about everrything.Starting with his religion.
Of course he was a Muslim as a kid.If not why did his Mom send him
to Jakarta to a school that taught the Qu'ran where he even mentioned
it in the book - Dreams from My Father - arguably written by pal Bill Ayers.
He also lied about where he got the Phrase - Audacity of Hope.

There wasn't a single frame of either an alive or Dead Bin Laden.
Unbelievable.Yet some believe Obama nabbed Bin Laden.
Lied about every aspect of that Bogus mission.

 

Nope. Revealing that you would interpret it that way. Merely because I dont agree with your assesment that any bad economic news cannot be the fault of Obama, and any good news is entirely his doing. You are blinded by your ideology. I choose to maintain a grasp on reality.

 

American soldiers got OBL and a few hundred thousand other terrorists. The pencil necked sissy, BHO would faint and convulse at the sight of an armed enemy.

 

There is proof; it was verified prior to disposing of the body. Of course you seem so biased its unlikely even if you were staring at the corpse, you'd claim it wasn't Bin Laden's and a plant instead.

 

HE got Bin Laden? He developed the intelligence that led to his location? He led the team that went into that location?

Or did he just sign off on the order?