Now please tell us, what was the total dollar value of subprime loan defaults that specifically precipitated the crash ? What percentage of the banks portfolios did this amount to ?

Contracting consumerism as a result of inability to legitimately take on more debt precipitated the crash. The people have no ability to resume debt based consumerism any time soon.

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The most profound slavery must be that in which the slaves can conceive of no other possible or better world than their bondage.

NO. I am not going to play your game. I have asked you a direct question several times and you refused to answer it. What is it about presenting your own evidence that scares you?

You know. Besides beng weak, It is plain rude to come on a thread and make bogus assertions and refuse to answer questoins about those assertions and then turn around and demand that your own questions get answered.

Maybe we should take a hint. This thread got moved from "current events" so we need to recognize that even though the Cash for Clunkers is still paying out, it is no longer a "Current Event" here in Political Forum and we should respect that it is against the rules to argue with censorship.

Dumb idea, more mindless welfare..

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I am a political atheist...Neither party has it figured out. Not even close.

If Dorothy were to encounter men with no brain, no heart, and no courage today, she wouldn't be in Oz, she'd be in Congress..

Well a local dealer just announced on the noon news today that the program is $45,000 in debt to hom and he is refusing to participate anymore. He hasn't been paid a dime since its inception despite his having participating in it from the beginning.

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If trees could scream would we be so cavalier about cutting them down?.........

We would if they screamed all the time and for no good reason! - Jack Handy

lets review.

Squid : the people do not have capacity to borrow and spend in order to revive an economy based on consumerism. Debt levels and servicing costs are too high. A slow down in growth based upon the inability of the average citizen to incur further debt caused significant stress on the highly leveraged banking system, resulting in margin calls and a rapidly accelerating deflationary implosion of the credit markets.

Bluesmn : no it didn't. Subprime mortgages caused a banking collapse.

Squid : Tell me Bluesman, what was the total dollar amount of defaulted subprime mortgages that collapsed the banking industry ?

Bluesman : you are abstract. I will not answer until you answer me, though you already have, and have generously provided links demonstrating that subprime mortgages were but a piece of the bigger picture, though I refused to read them, and despite the fact that I have not offered one quantifiable justification for the ability of the american people to participate in the revival of debt based consumerism, but have instead only offered the sophisticated reasoning of, "people pay their car loans, they need their cars".

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The most profound slavery must be that in which the slaves can conceive of no other possible or better world than their bondage.

Looks like it is working.


NEW YORK (CNNMoney.com) -- General Motors is upping production and calling 1,350 of its U.S. and Canadian auto workers back to work due to increased demand for its vehicles.

The company said Tuesday it is raising production by about 60,000 vehicles in the third and fourth quarters, in response to the increased sales that accompanied the government's Cash for Clunkers program.

The increased production will come from added shifts and overtime, GM said. In addition, the company will keep select plants open during

http://money.cnn.com/2009/08/18/news...ex.htm?cnn=yes

You are being extremely rude by misrepresenting what I said. I have already specifically asked you to use the Quote feature if you want to reference my comments. Do not speak for me again. A good debater does not need to use childish tactics. Please stop witht he harrassment.

It is funny that the stories about Ford and Chevy production increases are not making it on to the Drudge Report. The day the similar story about Ford came out, drudge had a headline reading "Sales Suck" becuase there had be a one tenth of a one percent decline in retail sales overall. The right wingers seem to have dug in and will not root for our current president no matter what.