Are you a poor person that voted for Biden?

[copiertec]

Re: Are you a poor person that voted for Biden?

Again, I understand where you're coming from. But Biden makes Trump look like a small spender. You must really hate what Biden is doing compared to Trump? There's no debate who wants to spend the most money. That would be Biden.

Yes. It's called "quantitative easing", it started back with Obama and Ben Bernanke, as a way to soften the blow of the economic fallout back in 2008 and has continued at breakneck speed. When the US borrows from the Fed, the taxpayers foot the bill, I hate, hate, hate it as it is very destructive to we the people.
Talking about criminality, look what went on back in 2008 with the mortgage debacle, CRIMINAL, yet NO ONE went to jail or prison. When the Fed (US government) bailed these criminals out, they should have paid off our mortgages, but millions of Americans lost their homes, while the banksters fucked us all, they got paid millions in bonuses with Fed bailout money, funded by "we the people." Granted, there were people who were applying for loans they never should have been approved of but it was allowed, knowing that it was unsustainable. So, millions lost there homes while banksters were paid millions while drinking champagne and snorting lines off of strippers. All this borrowing or quantitative easing which has to be paid back in turn it 1) weakens the dollar 2) causes inflation/hyper inflation 3) higher taxes on money we have already paid taxes on that has been given to a private bank.

[Phil B.]

Re: Are you a poor person that voted for Biden?

Yes. It's called "quantitative easing", it started back with Obama and Ben Bernanke, as a way to soften the blow of the economic fallout back in 2008 and has continued at breakneck speed. When the US borrows from the Fed, the taxpayers foot the bill, I hate, hate, hate it as it is very destructive to we the people.
Talking about criminality, look what went on back in 2008 with the mortgage debacle, CRIMINAL, yet NO ONE went to jail of prison. When the Fed (US government) bailed these criminals out, they should have paid off our mortgages, but millions of Americans lost their homes, while the banksters fucked us all, they got paid millions in bonuses with Fed bailout money, funded by "we the people." Granted, there were people who were applying for loans they never should have been approved of but it was allowed, knowing that it was unsustainable. So, millions lost there homes while banksters were paid millions while drinking champagne and snorting lines off of strippers. All this borrowing or quantitative easing which has to be paid back in turn it 1) weakens the dollar 2) causes inflation/hyper inflation 3) higher taxes on money we have already paid taxes on.

and Biden is now suggesting that SSI income should be TAXED @ 85%.... we have paid into SSI our whole working lives and NOW we just might be taxed again by a greedy POTUS that is giving OUR tax dollars to people that aren't even LEGALLY in this country AND are criminals by the rules set forth in our immigration laws.

HOW the HELL is that fair?

free medical.. free education for all (after we PAID off our school debt).. free housing... extra bonuses for sitting on their collective asses for NOT seeking a job... and the ridiculous spending continues.

very little of the Infrastructure bill actually goes to the intended needs .. but all the dimwits ' pet projects ' are fully covered. NanNan and gruesome got BAIL OUTS for their vineyards and wineries ... but hey they both are multi millionaires.

ALL of biden's spending bills are estimated to cost us 6 TRILLION DOLLARS ... but the true estimates are upwards of 20 TRILLION.

68 MILLION has been spent to house the illegal youths and the bill is still climbing, they are infected with Covid but are not being tested/treated at the federal level, but once they are relocated to within the country the LOCAL areas have to shoulder those burdens, both medically and financially ...

Neither biden nor his VP have visited the crisis THEY created... and they tells us it ISN'T a crisis and Psaki says it's all hogwash from the press... I don't thing she has gone to the border to see for herself either.

[BillyCarpenter]

Re: Are you a poor person that voted for Biden?

Yes. It's called "quantitative easing", it started back with Obama and Ben Bernanke, as a way to soften the blow of the economic fallout back in 2008 and has continued at breakneck speed. When the US borrows from the Fed, the taxpayers foot the bill, I hate, hate, hate it as it is very destructive to we the people.
Talking about criminality, look what went on back in 2008 with the mortgage debacle, CRIMINAL, yet NO ONE went to jail or prison. When the Fed (US government) bailed these criminals out, they should have paid off our mortgages, but millions of Americans lost their homes, while the banksters fucked us all, they got paid millions in bonuses with Fed bailout money, funded by "we the people." Granted, there were people who were applying for loans they never should have been approved of but it was allowed, knowing that it was unsustainable. So, millions lost there homes while banksters were paid millions while drinking champagne and snorting lines off of strippers. All this borrowing or quantitative easing which has to be paid back in turn it 1) weakens the dollar 2) causes inflation/hyper inflation 3) higher taxes on money we have already paid taxes on that has been given to a private bank.

The housing market crash was set in motion by Bill Clinton. He repealed regulations and that allowed "poor" folks to qualify for a home that they couldn't afford. See: Fannie Mae and Freddy Mac. Is it the greedy bankers we should blame or our own government?

[Phil B.]

Re: Are you a poor person that voted for Biden?

The housing market crash was set in motion by Bill Clinton. He repealed regulations and that allowed "poor" folks to qualify for a home that they couldn't afford. See: Fannie Mae and Freddy Mac. Is it the greedy bankers we should blame or our own government?

I blame both because they are interconnected. Mae and Mac were bailed out by the feds and nothing has really changed in their actions.

[BillyCarpenter]

Re: Are you a poor person that voted for Biden?

I blame both because they are interconnected. Mae and Mac were bailed out by the feds and nothing has really changed in their actions.

I blame both also, but I place a lot more blame on our government. Democrats were warned over and over about Fannie and Freddie but ignored it. All in the name of making sure that minorities could get a housing loan. In many cases, the greedy bankers were doing exactly what the government intended for them to do.

[Phil B.]

Re: Are you a poor person that voted for Biden?

I blame both also, but I place a lot more blame on our government. Democrats were warned over and over about Fannie and Freddie but ignored it. All in the name of making sure that minorities could get a housing loan. In many cases, the greedy bankers were doing exactly what the government intended for them to do.

the goobermint never fixes anything they just throw money at the problem hoping it will change the outcome... the TRUE definition of INSANITY!

[BillyCarpenter]

Re: Are you a poor person that voted for Biden?

the goobermint never fixes anything they just throw money at the problem hoping it will change the outcome... the TRUE definition of INSANITY!

Hey, Phil, watch this video. It will bring back memories. Remember Barney Frank?

[Phil B.]

Re: Are you a poor person that voted for Biden?

Hey, Phil, watch this video. It will bring back memories. Remember Barney Frank?

yes I do.. do I really have to? her face and voice makes me PUKE!

[BillyCarpenter]

Re: Are you a poor person that voted for Biden?

yes I do.. do I really have to? her face and voice makes me PUKE!

In that video republicans warned democrats that new regulations were required for Freddie and Fannie but democrats insisted there was nothing to fear. And then they do what they always do and played the race card and accused republicans of trying to keep black folks from owning a home.

Democrats have used black people to the detriment of the country.

[Phil B.]

Re: Are you a poor person that voted for Biden?

In that video republicans warned democrats that new regulations were required for Freddie and Fannie but democrats insisted there was nothing to fear. And then they do what they always do and played the race card and accused republicans of trying to keep black folks from owning a home.

Democrats have used black people to the detriment of the country.

yeah I watched the video... just muted the sound when the wicked witch of the west came on

[slimslob]

Re: Are you a poor person that voted for Biden?

The mortgage bubble cause can be traced back to the Alternative Mortgage Transaction Parity Act of 1982 which allowed non-federally chartered housing creditors to write adjustable-rate mortgages. Approximately 90% of subprime mortgages issued in 2006 were adjustable-rate mortgages.

Then came the Housing and Community Development Act of 1992 which is what encouraged the use of subprime mortgages. Subprime mortgages allowed those who would normally not have had enough income to qualify to obtain a mortgage.

Most subprime mortgages were also adjustable rate mortgages(ARMs). That brought the monthly payment down to where the buyer could afford it. When those mortgages began to ARM up, the buyers would just refinance and since the housing prices had gone up they would take out as much equity as they were allowed and still be able to make the monthly payments. Then circa 2006-2008 base mortgage rates also started to rise and in many cities faster than the housing prices. Borrowers could no longer refinance to get lower payments as the starting payment on a new loan was often more than ARMed up payment. That is when the bubble burst.

It could have been prevented simply if those Acts had merely specified that ARMs and subprime borrowers could not take out equity when they refinanced.

[copiertec]

Re: Are you a poor person that voted for Biden?

I find it interesting that the Fed decided to discontinue the M1 and M2 money supply data as a means of a litmus test for the economy. I find it very alarming, as they are off the charts right now and if you have studied economics you will understand that there is a direct relation to the growth of the money supply and inflation/hyperinflation, look at 2020 and beyond, it's going to get interesting here in the USA. Here are the current charts that the Fed decided to discontinue as a measure of the economy. My question is, why did the Fed discontinue these charts?? It's time to buckle up, people.

M1 Money Stock (DISCONTINUED) (M1) | FRED | St. Louis Fed

M2 Money Stock (DISCONTINUED) (M2) | FRED | St. Louis Fed

[slimslob]

Re: Are you a poor person that voted for Biden?

I find it interesting that the Fed decided to discontinue the M1 and M2 money supply data as a means of a litmus test for the economy. I find it very alarming, as they are off the charts right now and if you have studied economics you will understand that there is a direct relation to the growth of the money supply and inflation/hyperinflation, look at 2020 and beyond, it's going to get interesting here in the USA. Here are the current charts that the Fed decided to discontinue as a measure of the economy. My question is, why did the Fed discontinue these charts?? It's time to buckle up, people.

M1 Money Stock (DISCONTINUED) (M1) | FRED | St. Louis Fed

M2 Money Stock (DISCONTINUED) (M2) | FRED | St. Louis Fed

I noticed that the M1 and M2, reported weekly, have been replaced by the M1SL and M2SL which will only be reported monthly. The questions now become "Why is the FED only wanting to report on a monthly basis? What's next only quarterly?"