Political Opinion

[jollygreenfello]

You going to have to point out the Government intervention that happened prior to the GFC? Because if you’r referring to Monetary policy/Fiscal policy, we have a different discussion on our hands.

It was a combination of Monetary Policy and Government Action. Aside from the cheap credit, do you know what the CRA is? When it was enacted? What it’s purpose is? Who the original groups and individuals were that were instrumental in the push for this legislation? FDIC Law, Regulations, Related Acts - Consumer Protection

Did you know that in a PBS interview on Jan, 21st 1998, Bill Clinton took credit for 85% of all “affordable” housing loans issued under the guidelines of the CRA occurring in the first 5 years of his presidency? Are you aware that those loans would become the “sub-prime mortgages” so well-known in the housing crisis? Online NewsHour: President Bill Clinton – January 21, 1998

Again, happened after the GFC (caused by the banks not the Government). The Government was forced into a position to guarantee bank deposits because it couldn’t allow a “run” on the banks. The multiplier effect and the reverse of it, is basic compounding of funds in economics and leads to economic growth. “A banking panic or bank panic is a financial crisis that occurs when many banks suffer runs at the same time, as people suddenly try to convert their threatened deposits into cash or try to get out of their domestic banking system altogether. A systemic banking crisis is one where all or almost all of the banking capital in a country is wiped out. The resulting chain of bankruptcies can cause a long economic recession as domestic businesses and consumers are starved of capital as the domestic banking system shuts down.[3] Much of the Great Depression’s economic damage was caused directly by bank runs.The cost of cleaning up a systemic banking crisis can be huge, with fiscal costs averaging 13% of GDP and economic output losses averaging 20% of GDP for important crises from 1970 to 2007.”

This is a whole can of worms that I’m not going to even begin to open up. Obviously I disagree with you.

The use of the housing sector is basic fiscal policy and has been going on for generations, new homes = construction = jobs = materials = jobs etc. Grants a given on the basis that the person uses it to purchase a home, cash isn’t handed out randomly. Offering home owner grants to stimulate an economy doesn’t equal to banks lowering their risk tolerance. That’s just taking advantage of government incentives and not good business practice.

This is not the Federal Government’s role and it clearly hasn’t worked. We have something like 18 million vacant homes in America, many of which were built within the last few years and now the government is encouraging more home building. This is stupid and a tremendous waste of resources and labor. Stimulus doesn’t work either. This whole house of cards is going to come crashing down. And I imagine Keynesians will still be peddling the snake oil cure to economic woes. Obviously the businesses are going to take advantage of government incentives. They operate on a profit motive. The free market wouldn’t have made these crazy loans.

Please refer/link to these mandates, love to read them. The credit crunch has made most banks refuse to lend to even borrowers with good credit and a regular income. I don’t believe the Obama administration has encouraged risky bank practices but happy to be proven wrong. Besides the amount of regulation that is already in place kind negates that.

Gladly. http://articles.washingtonpost.com/2013-04-02/business/38220144_1_housing-recovery-housing-market-housing-officials http://www.gpo.gov/fdsys/pkg/FR-1995-05-04/pdf/95-10503.pdf#page=1

The credit crunch was necessary. It is how malinvestments are liquidated. Instead of liquidating the debt and having a real economy again, the government is perpetuating the mistakes and the underlying problem is growing. Yeah, the heroin helps the pain, but eventually we will die from it.

Ok, we have unemployed people or people on such a low income they can’t afford to pay for an education. And your response is what? Tough luck, you play the hand your dealt, poor stays poor and all is right in the world. People don’t study to jump on welfare they study to better themselves and get a better job or to start a new business etc. Once they start earning, they have to pay back the loans. You’re complaining a lot about Government practices but what’s plan? What do you suggest?

Yes. And now those unemployed people have $150k in student loan debt. Good deal! I suppose their odds at McDonalds are slightly improved, but now they are indentured servants thanks to these stupid policies. When the government tries to encourage everybody and their mother to go to college and makes it so pretty much anybody can go, thanks to Pell Grants, Student Loan guarantees, etc… more people go to college. That drives up the price of tuition in the same manner that all the housing incentives and cheap credit drove up housing prices during the bubble. Success!..

Now young kids are getting addled with $50k+ in debt and in many cases they have worthless degrees such as sociology and Arts history, which will never land them a moderately, decent job. It’s no wonder that all these college leaders lobby to keep the student loans and Pell Grants flowing in. They are getting wealthy off of it. As far as the taxpayers who are on the hook for the loans and the students who are now indentured servants, well… They just want their profits, to heck with us. Listen, the Federal government has no authority to make these loans. It’s unconstitutional.

My solution? Get the federal govt out, prices will become realistic again. Yes, the professors and college directors will be very upset when they don’t make as many millions, but they will just have to make a sacrifice, like the rest of us…

If individual states want to blow up their own little college bubbles, fine. The 10th amendment allows them to do that. Im confident that the leaders in my state will not be stupid enough to enact such policies. And if they do? I can move! Wow, what a concept. Being able to live in a state that more closely reflects you and represents you. No… That’s just silly, the federal govt needs to run everyone’s lives. Crazyness.jpg

I know, I know. You’re from Australia, you don’t really care about our constitution, you just assume the government can do anything they want. Well I do care about the Constitution. What these bureaucratic fools in Washington do directly affects me. And it will have an impact on foreigners too. When this economy sinks, the economic bow wave that it sets off will impact countries and people who are exposed to the US. We have a completely phony economy driven 100% by cheap money. The minute you take it away, the whole thing implodes. There is no exit strategy. And now, I will talk about why I own a scary gun…

[ILovePizzaMore]

[QUOTE=“newstrader830;485880”]

Is that not the definition of “stroking the ego” then? hahaha

Please refer to my first post where I state that quite explicitly. If everyone would just kindly admit they are here to get high on themselves and their own deluded opinions, that’d be great, and I could be on my way![/QUOTE]

I never contradicted you… You are proving my point… You wanted to prove you were “right” so you could be on your way

[Bitterseatrader]

The judge is more often then not going to be the poster himself… If he feels he has created a logical argument and proved the other guy the fool, he gets his sense of “being right”.

The reward is merely “being right” … I would hypothesize it stimulates the same positive chemical response in the brain as winning a trade would.

Don’t wholeheartedly agree there pizza, I am also working at the moment and this gives me some time away so its also the direct result of boredom. Also I enjoy the thought process, rarely can we argue our opinions in real life about politics, religion, or finance because it would be unsavory. So I am getting to voice an opinion that I might never get a chance too and were getting a stimulating debate.

No ones getting upset here, except for maybe a new poster or two

[newstrader830]

I see you’re point, since your profitable how about a trade journal starting Monday?

I don’t see how that would benefit my trading routine. Trading time is trading time, and since it’s my job, I feel pretty good about spending very little time on it.

[newstrader830]

I never contradicted you… You are proving my point… You wanted to prove you were “right” so you could be on your way

Of course. The difference is I re-directed the debate to an issue that I was 100% sure that I could win. That being the futility of arguing about politics (on an internet forum)

[ILovePizzaMore]

[QUOTE=“Bitterseatrader;485884”]

Don’t wholeheartedly agree there pizza, I am also working at the moment and this gives me some time away so its also the direct result of boredom. Also I enjoy the thought process, rarely can we argue our opinions in real life about politics, religion, or finance because it would be unsavory. So I am getting to voice an opinion that I might never get a chance too and were getting a stimulating debate.

No ones getting upset here, except for maybe a new poster or two ;)[/QUOTE]

You missed my first response where I said “it also provides mental stimulation”

[ILovePizzaMore]

[QUOTE=“newstrader830;485887”]

Of course. The difference is I re-directed the debate to an issue that I was 100% sure that I could win. That being the futility of arguing about politics (on an internet forum)[/QUOTE]

It’s not futile if those arguing are benefitting…

[newstrader830]

Don’t wholeheartedly agree there pizza, I am also working at the moment and this gives me some time away so its also the direct result of boredom. Also I enjoy the thought process, rarely can we argue our opinions in real life about politics, religion, or finance because it would be unsavory. So I am getting to voice an opinion that I might never get a chance too and were getting a stimulating debate.

No ones getting upset here, except for maybe a new poster or two

You didn’t do it directly but you did admit to the futility of your quest. Thank-you! ILovePizzaMore agreed in his own way too, so now we just got that jollygreenfello left on the checklist.

You are right, talking to real life people about politics can be frustrating. IMO democracy doesn’t work when the majority of the population are idiots… try explaining that opinion to the majority of people, hahaha

[ILovePizzaMore]

[QUOTE=“newstrader830;485890”]

You didn’t do it directly but you did admit to the futility of your quest. Thank-you! ILovePizzaMore agreed in his own way too, so now we just got that jollygreenfello left on the checklist.

You are right, talking to real life people about politics can be frustrating. IMO democracy doesn’t work when the majority of the population are idiots… try explaining that opinion to the majority of people, hahaha[/QUOTE]

I also did not agree with you either…

[newstrader830]

I also did not agree with you either…

Yes you did. You said people are here to stimulate their brain chemicals, and not to solve the political issues directly (as in create solutions and changes in a tangible, lasting way).

That is my point stated in a longer format.

[ILovePizzaMore]

[QUOTE=“newstrader830;485892”]

Yes you did. You said people are here to stimulate their brain chemicals, and not to solve the political issues directly (as in create solutions and changes in a tangible, lasting way).

That is my point stated in a longer format.[/QUOTE]

Show me the quote where I said “people aren’t here to solve the political issues directly (as in create solutions and changes in a tangible, lasting way.)”

[Bitterseatrader]

You didn’t do it directly but you did admit to the futility of your quest. Thank-you! ILovePizzaMore agreed in his own way too, so now we just got that jollygreenfello left on the checklist.

You are right, talking to real life people about politics can be frustrating. IMO democracy doesn’t work when the majority of the population are idiots… try explaining that opinion to the majority of people, hahaha

Haha whatever floats your boat champ, never said I was on a “quest” to do anything…

[newstrader830]

The [B]reward is merely “being right” [/B]… I would hypothesize it stimulates the same positive chemical response in the brain as winning a trade would.

The judge is more often then not going to be the poster himself… [B]If he feels[/B] he has created a logical argument and proved the other guy the fool, he gets his sense of “being right”.

Show me the quote where I said “people aren’t here to solve the political issues directly (as in create solutions and changes in a tangible, lasting way.)”

Those aren’t tangible changes, now are they?

[newstrader830]

Haha whatever floats your boat champ, never said I was on a “quest” to do anything…

You’re trying to do something, otherwise you wouldn’t be here doing it.

[ILovePizzaMore]

[QUOTE=“newstrader830;485896”]

Those aren’t tangible changes, now are they?[/QUOTE]

Did I say there were no tangible changes? Nope I did not… I just did not discuss that part of your post. Absence of me talking about that doesn’t equate to agreement.

I said the reward for arguing is the sense of being “right”… I said nothing regarding what the posters purposes or intents were.

[newstrader830]

Did I say there were no tangible changes?

It is the corollary conclusion to the sum of the things that you Did say, yes.

[ILovePizzaMore]

[QUOTE=“newstrader830;485900”]

It is the corollary conclusion to the sum of the things that you Did say, yes.[/QUOTE]

Did I say there were no tangible changes? Nope I did not… I just did not discuss that part of your post. Absence of me talking about that doesn’t equate to agreement.

I said the reward for arguing is the sense of being “right”… I said nothing regarding what the posters purposes or intents were.

[newstrader830]

Did I say there were no tangible changes? Nope I did not… I just did not discuss that part of your post. Absence of me talking about that doesn’t equate to agreement.

I said the reward for arguing is the sense of being “right”… I said nothing regarding what the posters purposes or intents were.

I guess my heightened perception of logic allows me to draw irrefutable conclusions that you simply cannot understand.

So let’s draw this out a little longer, for the simpler minds…

What are the tangible (political) changes that do come from the arguments put forth in this thread?

[ILovePizzaMore]

[QUOTE=“newstrader830;485902”]

I guess my heightened perception of logic allows me to draw irrefutable conclusions that you simply cannot understand.

So let’s draw this out a little longer, for the simpler minds…

What are the tangible (political) changes that do come from the arguments put forth in this thread?[/QUOTE]

See… You should have asked me that question before you assumed I agreed with your previous post.

What tangible political changes does a persuasive political ad on the television put forth into society?

[newstrader830]

See… You should have asked me that question before you assumed I agreed with your previous post.

What tangible political changes does a political ad on the television put forth into society?

It’s like putting your opponent in check-mate (in chess). They don’t need to explain to you all the ways they can’t move in order to come to the conclusion that there is nowhere to move.

The type of mind that is being influenced by those ads is not the type of mind that is present on this thread. Those people don’t have a strong opinion to begin with… every individual here clearly has a very strong opinion.