There’s no Santa or Tooth Fairy, and no quick fix for economy
Wow.
That explains a lot, economically as well as politically.
The chart above, from Calculated Risk, breaks out housing equity by state. In Nevada, for example, almost 70 percent of homeowners owe more on their mortgages than their homes are worth. How many of those folks are going to be in the mood to spend money, generating the demand needed to restart the economy? Compounding the problem, Nevada also happens to have the country’s worst unemployment rate, at 14.3 percent in July. A lot of those jobless Nevadans couldn’t relocate for a job even if they found one, not without taking a huge financial hit on their home. That’s a lot of pain and sleepless nights, and cause for a lot of anger as well.
Georgia is sixth, right after California, with almost 30 percent of homeowners under water and another good chunk barely staying afloat. (Ga. unemployment rate: 9.9 percent). An economy that for years was fueled by homeowners who used their houses as ATMs has become an economy in which housing has become a huge anchor, in more ways than one. Millions of homeowners face the difficult choice of continuing to dump money into a house that they know is a bad investment or just walking away.
That also puts into perspective the latest “regional snapshot” from the Atlanta Regional Commission. “Since the recession began more than two years ago, the 10-county region has added approximately 56,000 people, which is the slowest growth period in the region since the 1950s,” ARC reports. “The Atlanta region’s slowdown is directly attributable to the national economy. During weak economic periods, people don’t move as much for several reasons. Job opportunities are slim, meaning people don’t move to take new jobs. And, with the housing market in such disarray, it is hard to sell a house, which tends to keep people stationary.”
There ain’t no Santa Claus, there ain’t no Easter Bunny, and there ain’t no easy, quick solution to problems like this one.
UPDATE: In an analysis of Michael Lewis’ best-seller “The Big Short,” economic analyst Paul Willen of the Federal Reserve traces the collapse of the Wall Street bond market to the same basic problem: housing prices.
“Subprime bulls bought the bonds because careful research based on vast amounts of loan-level data using state-of-the-art models … showed that if house prices continued to behave as they had for the previous ten years, the bonds would perform well. The research also showed that if house prices collapsed, investors would lose big, but, after ten years of solid appreciation in house prices, researchers viewed a big fall as unlikely.”
Willen and his co-authors also cite an August 2005 analysis of the housing bond market by researchers at Lehman Brothers. The researchers estimated only a 5 percent chance of a “meltdown scenario,” which they defined as a market in which housing prices fell by 5 percent a year. The actual meltdown — only months away at the time — saw housing prices fall by 10 percent a year, twice as bad as the worst-case scenario. It also saw Lehman Brothers disappear altogether.
Here’s another chart, documenting the housing boom and subsequent collapse, by Steve Barry via Barry Ritholz and The Big Picture. Ominously, it suggests that housing values are STILL well above historic levels of the past century, after adjusting for inflation.
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797 comments Add your comment
Some People are stupid
August 27th, 2010
1:27 pm
Good little liberal -
uhmm….thats not what I asked for…and in all honesty, that shows me nothing… a .03 increase in a year…
@@
August 27th, 2010
1:28 pm
RW:
Now you know I like Joe. He’s the last person who should be out addressing the economy though.
How many truths has Joe told by accident. He’s invaluable.
Joe’s TRUTHS have set us FREE!!!!!!!!!!
(ISH)
Granny Godzilla
August 27th, 2010
1:28 pm
tick tick tick
Jackie
August 27th, 2010
1:29 pm
@Southern Comfort
I am honored that you find any of my posts useful.
Some People are stupid
August 27th, 2010
1:29 pm
Good little liberal-
You do know that there are republicans who don’t work as well??
You really are stupid….seriouosly…
@@
August 27th, 2010
1:29 pm
I’m enjoying this millin’ about without interruption.
RW-(the original)
August 27th, 2010
1:30 pm
Now you know I like Joe
It’s that latent liberal in you.
(ISH)
AmVet
August 27th, 2010
1:31 pm
Why do you think the economy stinks. The democrats have been in charge for almost four years and in that fours years, almost every indicator has been diving to the bottom.
That’s your idea of expounding? Clearly your hyper-partisanship precludes you from having any cogent ability to provide any details about the corporate destruction of capitalism, or as it is euphemistically known the Economic Crisis of 2008. I can surmise you have no ability to list the players, the history and the aftermath. i.e. the credit (get it?) to be given to five administrations, thousands in the various levels of government and the tens of thousands on Wall Street, K Street and main Street and elsewhere in the “free market”.
You really do think this meltdown was not decades in the making and that this all happened in the past few years, don’t you?
In my best Roseann Roseannadanna voice, “Never mind”…
Jackie
August 27th, 2010
1:31 pm
@Good little liberal
The “oil of capitalism” is money; you complain about the amount of money put into the economy by the Federal Reserve and borrowing, then you complain about there not being enough. Do you feel well?
@@
August 27th, 2010
1:31 pm
tick tick tick
Whenever I see ^^^ that, I’m gonna call its author a “bloodsucker”.
Granny Godzilla
August 27th, 2010
1:32 pm
i’m still so very perished…..
Jefferson
August 27th, 2010
1:32 pm
If the Fed would raise interest rates and get mortgage rates up to the 6-8% range for 30 yr loans, the value of houses will get back in line. The propping up of a overpriced market solves no problems. Payment shoppers always get ripped.
mm
August 27th, 2010
1:33 pm
“If you want to support Soros, it’s a free country. But a liberal supporting a crooked, slimy billionaire that lives off the misery of others.”
Oh no, it’s the George Soros boogeyman again!!
Funny how you middle class wingnuts support crooked slimy billionaires that live off the misery of others on a daily basis. But in your fantasy world, they’re just good old businessmen.
Do you people even think before you post?
Things go better with Koch.
“Should I post a picture of the economics figures during the reign of your democrats?”
I guess ignorance is a requirement for being a republican. You spout nothing but stereotypes and made up talking points.
RW-(the original)
August 27th, 2010
1:33 pm
Thinking the government can “overhaul the engine” by taxing and regulating is more like thinking you can stand in front of an avalanche to stop it. Sometimes you need to get out of the way and survive to assess the damage from a standpoint of reality.
@@
August 27th, 2010
1:34 pm
latent liberal
Come on, RW…you can do better than that. May I suggest “latent homosexual”? It’s all the rage with jay’s left-wingers.
@@
August 27th, 2010
1:36 pm
perished
You’re not the only rusty can on the shelf.
Howz’bout perishable?
Jackie
August 27th, 2010
1:36 pm
Dixiecrats who became Repub: Jesse Helms, Trent Lott
Doggone/GA
August 27th, 2010
1:37 pm
“it’s essentially the same thing and only a matter of semantics for political purposes”
but in the case of Iraq they did NOT “COMMIT” him to that military action. They left it up to HIM to decide. That puts the “declaration” of “war” into the excutive branch, and is, in MY opinion an abject abdication of their reponsibility.
mm
August 27th, 2010
1:37 pm
“May I suggest “latent homosexual”? It’s all the rage with jay’s left-wingers.”
Ironic how you wingnuts want the government to stay out of your business, except for who’s having sex with whom and who wants an abortion. Or where someone wants to build a community center. Or who wants to pull the plug on a brain dead loved one.
Big D
August 27th, 2010
1:38 pm
Forget even trying to present the true and FACTUAL evidence that it was the Dems take over of Congress and the election of the Obamanation that has us where we are.
He could declare his taking over the military and proclaim himself emperor.Then start using firing squads to suppress opposition, all the while Granny, AMvet and company would find absolutely nothing wrong with it. They are totally invested to an insane ideology that prevented a large portion of the world from seeing what Stalin and Hitler was doing.
Sad times for the sane…we are forced to watch the inmates running the asylum.
interested observer
August 27th, 2010
1:39 pm
It’s amazing how many people think a recession that is the result of years of greed, carelessness and lousy fiscal policy by government, corporations and individuals should be reversed in a couple of years. No sane person expected the Obama administration or a McCain administration to pull America out of this hole overnight.
The sad thing is that since the economy of the past decade or more was built on quicksand, no one really has an idea of what the new “normal’ will be once a recovery occurs. We may not even recognize it. If the prosperity of the past was based on excessive spending and massive debt, it is patently unreasonable – undesirable in fact – to want the economy back at that level. The days of financing excess spending on home equity are over and we shouldn’t wish them back.
There’s a new reality out there somewhere. Hopefully, it’s not today’s economy, but it sure isn’t the economy of 2006 either. Whining about which politicians got us here and which are to blame for not getting us out may fill up the blogosphere, but sooner or later we’ve got to adapt to the new world and move on.
mm
August 27th, 2010
1:40 pm
“Do you have anything os substance to vomit or is this the best you have?”
Sounds like every post you made today.
I don’t like republicans because every word that comes out of their mouth is a lie. And they have obstructed everything the dems have tried to get the economy going.
Please explain exactly why you support republicans in spite of the facts in the paragraph above?
@@
August 27th, 2010
1:41 pm
Huffington Post headline: Michelle Obama Goes for Bike Ride in Khaki Short, New Sneakers (PHOTOS)
Ooooooooooooooooooooooooooooooo
Normal
August 27th, 2010
1:43 pm
AJC Headline: Atlanta man shot in buttocks, chin…
Musta had his head up his a$$…
larry
August 27th, 2010
1:43 pm
Thinking the government can “overhaul the engine” by taxing and regulating is more like thinking you can stand in front of an avalanche to stop
Yep , who needs regulations
AmVet
August 27th, 2010
1:45 pm
Forget even trying to present the true and FACTUAL evidence that it was the Dems take over of Congress and the election of the Obamanation that has us where we are.
Yes, forget indeed, because apparently you could not possibly make any kind of case, much less a compelling one, to prove your point, could you? Otherwise you would do so.
Have you ever presented single FACT in any of your posts? I guess I could back and look, but I suspect it would be futile…
I’ll await your next fact-free post.
The countdown has begun again on yet another childish, out-of-control Bookman/liberal hater?
Niiice…
andygrd
August 27th, 2010
1:46 pm
My last post was about as ridiculous as I could get….. and the best response was from HDB and I do thank you..
HDB, I like your style and I would enjoy entering a debate of issues with you. Very seldom do we see posts here that are thought provoking and explore both sides of an issue. Matti responded as so many right and left wing individuals do…. Name calling,,, which proves my point.
It bothers me that more often than not, there is very little civility. It would be nice if we could debate issues on facts, not on what the right or left bloggers post… Very little research is ever performed…. Or if it is, FOX or MSNBC are quoted as authoritative…
@@
August 27th, 2010
1:46 pm
Did most of the left-wingers run off to check out the photos at Huffington?
Big D
August 27th, 2010
1:47 pm
Larry…
Churchill said it best ” It’s the same as a man standing in a bucket trying to lift himself up by the handles”
True then…. True now.
Normal
August 27th, 2010
1:48 pm
“Republicans love people who work for a living”… If they make over 250,000 a year; otherwise they will use you for your vote, and to get what they want, and then throw you to the curb…
Big D
August 27th, 2010
1:49 pm
Amvet…
I’ve posted so many as well as a dozen others here and you idiots foo foo them and waste everybody’s time.
” A wise man learns from experience..a fool learns no other”
AmVet
August 27th, 2010
1:51 pm
Very little research is ever performed…
Very little indeed, usually not much more than just puerile blanket indictments and over-simplifications of enormously complex subjects.
But since that happens all the time in Washington and on the TV/radio, it is not surprising…
@@
August 27th, 2010
1:51 pm
For the Huffington fans. Please note…Michelle doesn’t have any shoestrings in her new tennees. See if you can find out why. Such are matters of great import.
Doggone/GA
August 27th, 2010
1:52 pm
” A wise man learns from experience..a fool learns no other”
Is it just me, or does this make no sense?
AmVet
August 27th, 2010
1:53 pm
So humor me and show me where this absurd claim is bolstered by your “fact filled posts”: …the true and FACTUAL evidence that it was the Dems take over of Congress and the election of the Obamanation that has us where we are.
I’ll await the cows coming home but you have nothing and will demonstrate so on a public forum, in very short order…
Doggone/GA
August 27th, 2010
1:53 pm
Big D – did you maybe try to post this:
“A wise man learns by the mistakes of others,a fool by his own”
Jackie
August 27th, 2010
1:53 pm
@Good little liberal
You dwell on things that are not relevant to todays quandry?
Would you want to reverse the policies of President Bush and the current Republican House and Senate members?
Normal
August 27th, 2010
1:54 pm
I heard on NPR this morning that China was having second thoughts about loaning us more money, citing our economy and high unemployment.
What I can’t figure is..is this a bad thing or a good thing? My gut feeling is that the economic crash is yet to come, just like the chaos that will happen when the last of the troops leave Iraq.
Does anyone know?
@@
August 27th, 2010
1:55 pm
The U.S. birth rate has dropped for the second year in a row, and experts think the wrenching recession led many people to put off having children. The 2009 birth rate also set a record: lowest in a century.–USA TODAY
Well there’s goes the Social Security!!!!!
Normal
August 27th, 2010
1:56 pm
Doggone/GA
August 27th, 2010
1:53 pm
It’s like saying…”Nothing difficult is ever easy” Doesn’t mean crap, but does sound heavy…
Once "Recent" Reader
August 27th, 2010
1:58 pm
I keep hearing it was Barny Frank this and Barney Frank that in regards to the housing issue. Wasn’t GWB a big fan of house ownership expansion before Barney came into the picture. When I look this up, depending on the slant of the article . . .Barney can either be defended or blamed as being a piece in the housing bubble growing. I just never seem to see any balanced argument on this . . .and begin to think of him (Frank) as being an easy talking point by the Right. Such as death panels, bailouts (not started by Dems), biggest “tax hike ever”, Phoenix is #2 kidnapping capital in the world, and as of late “Sharia Law” being mouthed over and over by sudden Islamic/Koran experts on Fox. I have become very suspicious when I hear certain phrases being worded constantly on that channel and try to do some research on my own. Often, I find there are great liberties being taken and quite a bit of misdirection . . ..or misinformation.
Bosch
August 27th, 2010
1:59 pm
“I have become very suspicious when I hear certain phrases being worded constantly on that channel and try to do some research on my own. Often, I find there are great liberties being taken and quite a bit of misdirection . . ..or misinformation.”
Ya’ think? Good for you doing your own research — it seems there a certain return poster here who the same advice it would behoove.
Bob
August 27th, 2010
1:59 pm
All we need to do is raise taxes on the rich about 30% or so and America’s problems would vanish faster than wrong answers on a test administered by Beverly Hall.
Big D
August 27th, 2010
2:00 pm
Dog…
You and Amvet are obviously not very well read.
Kamchak
August 27th, 2010
2:00 pm
If I win, we all win.
There’s your sign.
Jackie
August 27th, 2010
2:01 pm
@Normal
I am of the opinion that China cannot afford to stop loaning us money. We are in a Faustian bargain with the Chinese. If we stop borrowing, they can not maintain the jobs for their citizens. If no jobs for the people who have “come off the farm” there will be civil and social unrest in the China, of epic proportions.
barking frog
August 27th, 2010
2:01 pm
for about 40 of the past 60 years republicans have
occupied the white house, are they willing to accept
two thirds of the responsibility for the economics of
those years, if so the democrats have one third of
the responsibility so they should hold office 20 more
years to be even. Numbers like this have been all
over the board and are meaningless. the only
home comparison worthy of consideration is
home payment to rent payment and which is
more economical. a home is a place to live
and should not be considered a speculative
“investment”.
Doggone/GA
August 27th, 2010
2:04 pm
“You and Amvet are obviously not very well read.”
Obviously? I think it’s more that we know this to be true:
“The art of being wise is knowing what to overlook.”
William James
jm
August 27th, 2010
2:06 pm
Under the category of “Government isn’t fixing the problem, Government is the problem”:
http://online.wsj.com/article/SB10001424052748703447004575449813071709510.html?mod=WSJ_hpp_sections_opinion
(a nice op-ed in the WSJ about pensions in California and how government no longer serves the people but only its employees)
jm
August 27th, 2010
2:06 pm
also – by the Terminator
Normal
August 27th, 2010
2:06 pm
Doggone/GA
August 27th, 2010
2:04 pm
jm
August 27th, 2010
2:06 pm
Jackie you are correct.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:07 pm
8/28 Restoring Honor Rally to air live on Facebook
August 27, 2010 – 10:42 ET
8/28 Live! – Saturday, 10a-1p ET
Yes, 8/28 will be broadcast live on Facebook. We want as many people as possible to have the chance to view this event which is why it will be streamed FREE. Checkout our Facebook page on 8/28 to watch this event LIVE! Remember 10a ET. If you can’t be in Washington DC, join us on Facebook to watch it live!
Lil' Barry Bailout
August 27th, 2010
2:10 pm
HDB
1) Tax policy: Why grant the wealthy a marginal tax decrease when the middle class is getting screwed…That tax squeeze made the middle class irrelevant!!
2) Unemployment: Why did the Republicans deny the extension of unemployment benefits
——————-
Sorry, HDB, but you’re a two-time loser. Our President Bush cut taxes for all tax payers. In your estimation, lower taxes “squeezed” the middle class? On unemployment benefits, that occurred on the Idiot Messiah’s watch, not President Bush’s but in any case the GOP didn’t oppose the benefits, they opposed the Democrat plan to not PAY for the benefits.
Don’t let facts get in the way of your demitard populist parroting of Keith Olbermann’s favorite talking points.
AmVet
August 27th, 2010
2:10 pm
There’s your sign. And there’s my proof.
But don’t feel like the lone stranger.
You are the second person I’ve asked today to support their claim and refused to do so. If I were you, I suppose I too would also cut my losses and not make an even bigger fool out of myself in public.
I’ll watch your future posts, but let’s not pretend anymore, shall we D? You are simply incapable of making any kind of persuasive argument. I am pretty certain you will not ever post the first scintilla of evidence, data, facts, numbers and/or evidence to corroborate your obviously preposterous claim that the economy is “where it is” solely because of the past four years and nothing before.
So you fall back to one of your few strengths, immature name calling.
Do you realize just how childish your original assertion reads to educated and informed people?
Are you moving your lips while you read this?
Once "Recent" Reader
August 27th, 2010
2:10 pm
Bosch . . . . . .I’ll admit . . . .I know exactly what is going on there:):) But I try to soujnd like I’m giving some benefit of the doubt so others might actually take a look at what that channel’s “Push of the day/week” is all about. My own research often leads to showing there is a “top level” that allows them the liberty of pushing their viewpoint. As you go just a little bit below that top level . . ..then you start saying . . .hmmmm. As you go even deeper . . .often you see there is a lot of info countering the Fox point of view. So as I saw a Jon Stewart skit the other day . . . .(8/23 I think) . . .it makes me wonder which is it on that channel . . ..Team Stupid or Team Evil. I think the morning show is the first . . .and the nightly shows lean towards the “Dark Side”.
Jackie
August 27th, 2010
2:14 pm
@jm
We can not live without the Chinese, they can not live without us.
Bosch
August 27th, 2010
2:14 pm
“Are you moving your lips while you read this?”
Damn, now that was funny.
~~~~~~~~~~~~~
Reader,
It’s very obvious when you see posters who only watch FOX — eberyting is the Dems fault!!
jed
August 27th, 2010
2:15 pm
There is a growing movement,( last check puts the number at 242,000 voters),
to DO WHAT IS RIGHT BY AMERICA.
This movement consists of every voter who voted for Obama in 2008 and Bush in 2004 to abstain from voting this November AND in 2012. They are DOING WHAT IS RIGHT and leaving the voting to more intelligent people. These patriotic voters are admitting that they were wrong. They are admitting that they are mentally handicapped. They are admitting that voting is something that should be taken seriously, and that it is no place for ill-informed novices.
I hope that this movement continues to grow and I salute these brave citizens. I know that it is hard to give your liberal, statist investments up. Admitting that you have a problem IS the first step.
THIS will help our economy.
Will Mr. Bookman take the pledge???????????????
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:15 pm
Andrew Klavan: Does Islam Suck?
http://www.youtube.com
A group would like to build a mosque near Ground Zero. Andrew has a few reasonable questions for our muslim friends. He hopes he can get them answered before some jihadi psycopath murders us all.
jm
August 27th, 2010
2:16 pm
As much as the Republicans drive me bonkers with an often cro-magnon approach to things, and the religious right drives me bonkers, it is the Democratic party that has driven our government and economy into the ground. All of the government creations drastically messing things up are Roosevelt, Johnson, or Clinton creations.
1. Social Security, fan / fred
2. Medicare
3. Repeal of glass-steagall
Of course we can blame Bush for Medicare prescription coverage. Now we can blame Obama for semi “universal coverage.”
The Republicans would be inclined to fix most of these things intelligently, but for the fact that they become popular programs when Democrats beat the drum of “Republicans are screwing the small guy”. So Republicans back off because they’re justifiably afraid of trying to fix Medicare, social security, or any of the others. So now we’ve got the government we wanted. It appears we’re our own worst enemy sometimes. We need some hard core but slightly right of center moderates running this country.
HDB
August 27th, 2010
2:17 pm
Good little liberal August 27th, 2010
1:33 pm
I CAN talk about the racial histories of both parties…don’t need a history book…cause I LIVED it!
Note what I said….BOTH sides have dirty hands….but the GOP is the more recent and effective!!
from wiki (Southern Strategy): “From now on, the Republicans are never going to get more than 10 to 20 percent of the Negro vote and they don’t need any more than that… but Republicans would be shortsighted if they weakened enforcement of the Voting Rights Act. The more Negroes who register as Democrats in the South, the sooner the Negrophobe whites will quit the Democrats and become Republicans. That’s where the votes are.”
Dixiecrats didn’t like Kennedy because they were staunch anti-Catholics!! When Kennedy ran for President, it was thought that the POPE would control domestic policy!!
“Do you really want to compare politicians voting against yet another National Holiday to the Democrats filibustering against the Voting Rights Act” It was those same SOUTHERN CONSERVATIVES that led the filibuster that went to the GOP!! Note Jesse Helms!! Also note Jesse Helms’ campaign against Harvey Gantt……
“Let’s talk about Kennedy’s voting block in South Boston, the home of the longest and bloodiest race riots in the country.”
During the 70s, the Southies were screaming against forced BUSING…..I was stationed there…and was in the middle of some of the issues!! It was a bad time…but not as bad as Birmingham in the 50s and 60s…….
Remember Ronald Reagan’s statement in support for “states’ rights” in Mississippi; that was tacit approval for segregation! He said that near the same site where three civil rights workers were SLAIN!!
Talk about MLK being a Repblican: prior to 1964, the preponderance of the black vote went to the GOP because it was the “party of Lincoln”…and the co-founding of it!! When RFK got MLK released from the Birmingham jail…and JFK spoke on his civil rights legislation, that spurred the movement of the black vote to the Democrats…..the Dixiecrats went to the GOP, taking the racist paradigm with the!!
Remember – it wasn’t CONSERVATIVES that got Civil Rights legislation passed; it was the MODERATE Republicans from the Northeast (”Rockefeller Republicans”) that got the legislation passed!!
andygrd August 27th, 2010
1:46 pm
Thank you; the problem is that people tend to categorize from not having interfaced with those who they consistently rail against! I, for one, have multicultural influences…..raised with a strong work ethic, but have lives through the times where I wasn’t considered to be a citizen!! I’ve lived through the political changes, the vitriol and the invectives! Honestly, if there were a member of the GOP that appealed to me, that ASKED me for my vote, that CAMPAIGNED in my neighborhood….they would get just as much consideration as the Democrat that does likewise!! Rather than to address an issue from one viewpoint or one media source, we ALL need to diversify our input to derive the proper conclusions! Balance Rush and Sean with Keith and Rachel; balance FOX with CNN and BBC; balance the AJC/WaPost/NYT with the Arizona Republic/Dallas Morning News/Hartford Courant……..
Quit parroting the PARTY line…and think OUTSIDE the box for a change!! THAT’S what this nation needs to get out of the situaton we’re in!!
That’s what happened!!
Bosch
August 27th, 2010
2:17 pm
Where are all the wingnuts today? Oh here they are:
http://projects.ajc.com/gallery/view/metro/topics/rallyadvance-0828-2010/
merry band of morons…..
@@
August 27th, 2010
2:18 pm
Beautiful photographs:
Russia in color, a century ago
but nobody’s smiling.
jm
August 27th, 2010
2:21 pm
Jackie – yes, but we are on the losing end of the faustian bargain. We rack up permanent debt while they rack up real productive assets and IOU’s from us.
In the final chapter, we lose big time.
The only solution and lever we can pull is to balance our budget and pay down our federal debt so they can’t manipulate our currency any more. This will be extremely painful one way or the other. And its not generally our fault (the communists in China started manipulating the rules of an ultimately free – market game), but we have to respond in some manner to straighten the rules back out, and this is the only solution short of printing massive amounts of money and creating rampant inflation, that I can think of.
Once "Recent" Reader
August 27th, 2010
2:21 pm
Bosch . . . . true. You also get a chance to see how well that Channel does it’s work . . . .by hearing the scary things they repeat over and over . . .repeated again by those specific posters. I do have to give all the credit in the world to them and other strongly Conservative media outlets. They do their job of getting their base frightened and angry much, much, much better than the Liberal/Progressives. It is a thing of beauty to watch . . .. .at the same time quite repulsive:)
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:22 pm
Is “Here’s your Sign” another way Liberals admit they are wrong and embarrassed for their party?
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:24 pm
HDB
August 27th, 2010
2:17 pm
You do realize that after the 26th paragraph, nobody cares what you say?
Dave the Man
August 27th, 2010
2:24 pm
Aw, come on Jay, you know that all of you Libs that believed in Obama/Biden, also believe in Santa and The Tooth fairy.
jm
August 27th, 2010
2:24 pm
Bosch – where are all the minority tea partiers? I find the tea party entertaining and not entirely crazy. Racist, no. But incredibly diverse it is not.
Normal
August 27th, 2010
2:26 pm
Jackie
August 27th, 2010
2:14 pm
Eat more Chinese…but only young, plump ones…
Bosch
August 27th, 2010
2:27 pm
Reader,
It’s pretty obvious to me from those who post here that the wingnuts don’t know how to think critically. They do not know how to disseminate information — they go with five second soundbites to prove their “points” — we’ve seen it today — when you ask them to explain their positions with something other than their own opinion they fall back on the old familiar — slinging the feces.
Doggone/GA
August 27th, 2010
2:27 pm
“Is “Here’s your Sign” another way Liberals admit they are wrong and embarrassed for their party?”
http://en.wikipedia.org/wiki/Here’s_Your_Sign
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:27 pm
NEWS FLASH!!!!
We as a PEOPLE are $17,000,000,000,000.00 plus in debt.
(Who knows another word for this number?)
Should we even HAVE A CHECKBOOK?
@@
August 27th, 2010
2:28 pm
Blockbuster is going belly-up. Plans to reorganize into something leaner and meaner.
Bosch
August 27th, 2010
2:28 pm
I’m here,
No, it’s our nice way of saying your an idiot.
HDB
August 27th, 2010
2:28 pm
Lil’ Barry Bailout August 27th, 2010
2:10 pm
By the time the Bush cuts came in to effect, the middle class was ALREADY screwed! Note the marginal tax rates under Reagan: (1981: 69.125%, income over $215,400; 1982 – 50%, income over $85,600). The middle class was already squeezed!! When Reagan dropped the marginal tax rate to 28%, income over $29,750 was affected!! Tell me that isn’t squeezing the middle class!! When CLINTON raised taxes, the income level effected was RAISED at first to $82,150 @ 31%…then $288,350 @ 39.6%! Note the expansion of the middle class then!! Immediately after 9/11….unemployment spiked under Bush….(I was affected by it personally!)..so a tax cut with ZERO income is no cut at all!!
The repeal of Glass-Steagall was primarily a REPUBLICAN-led measure….led by Phil Gramm and Jim Leach…so the GOP screwed the pooch again!!
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:29 pm
m
August 27th, 2010
2:24 pm
Bosch – where are all the minority tea partiers? I find the tea party entertaining and not entirely crazy. Racist, no. But incredibly diverse it is not.
Please Thank Obama for us. Without him, we never would have banded together as quickly. Again, Thanks Bunches!
Once "Recent" Reader
August 27th, 2010
2:30 pm
Dave the Man . . . . .what is funny is you hear Obama called things like “The Messiah” and “The Second Coming” sarcastically by the Conservative Media. It’s strange how they worked this one into their everyday conversation. I’m sure there were plenty of folks who looked at our current President in an adoring way, but myself and the people I’ve spoken with who voted for him never looked at him as someone who would be a miracle worker. But of course, because of that constant push by the Right you see many posts like yours indicating supporters of the current President are somehow delusional and expected a land of Milk and Honey. Oh well, the propaganda obviously worked on you.
jm
August 27th, 2010
2:30 pm
Gov’t – only good news is there’s 300 million of us. Alternative solution, everyone should have about 3 times as many babies as they currently plan on….
HDB
August 27th, 2010
2:30 pm
I’m Here From The Government And I’m Here To Help
August 27th, 2010
2:24 pm
Question is — can they handle the TRUTH?? If not, no worries to me, man!!
AmVet
August 27th, 2010
2:31 pm
Bosch, I hope those people from Kennesaw are armed! If not are they in violation of the law? LOL. Not to worry, perhaps one or more of them has a “stickered” Cobb County science book to sustain them on their trip to see Her Holiness…
“Recent” your point is well put. The ever-enraged right has that “advantage” over non neo-cons. But their righteous anger is misdirected and counter-productive. By and large they are violence-prone and are beyond frustrated that they can’t visit it upon their countless perceived enemies.
Think I’m exaggerating? Read Kevin’s enraged implosion directed at me this morning. For no good reason whatsoever. Many of them are ticking time bombs looking for an excuse. And occasionally, one like James Adkisson, will stroll into a church in Tennessee and murder “liberals”.
But alas, because almost to a man, they have zero experience with service, before self, nor a code of courage and valor, they are emasculated talkers only.
The truth is that the middle class in America is dying — and once it is gone it will be incredibly difficult to rebuild.
Because I know D, G-man and Good Little are just dying to read a whole bunch of facts they don’t want to know about…
http://finance.yahoo.com/tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here%27s-the-stats-to-prove-it-520657.html?tickers=^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA
jm
August 27th, 2010
2:31 pm
Glass Steagall- you can thank Clinton and Rubin. Wouldn’t have passed without the POTUS’s signature. So I guess you can blame both parties.
Bosch
August 27th, 2010
2:32 pm
“Without him, we never would have banded together as quickly”
Yeap, leave it to a bunch of rabid racists to go postal to blaming everything on the black POTUS!
Doggone/GA
August 27th, 2010
2:32 pm
“The repeal of Glass-Steagall was primarily a REPUBLICAN-led measure….led by Phil Gramm and Jim Leach…so the GOP screwed the pooch again!!”
Nope. Bill Clinton signed that one and I thought at the time, and still do, that he was an IDIOT to sign it.
HDB
August 27th, 2010
2:33 pm
jed August 27th, 2010
2:15 pm
Does that also include those who’d vote for Sarah Palin, Mike Huckabee, Mitt Romney, Paul Ryan, Newt Gingrich…….and those who listen to Rush Limbaugh, Sean Hannity, Ann Coulter, Michelle Malkin, Matt Drudge????
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:33 pm
Doggone/GA
August 27th, 2010
2:27 pm
“Is “Here’s your Sign” another way Liberals admit they are wrong and embarrassed for their party?”
http://en.wikipedia.org/wiki/Here’s_Your_Sign
And another BINGO winner. Boy, today is BINGO’S winningest day! Thanks for playing!
@@
August 27th, 2010
2:33 pm
The unintended consequences?
The golden age of credit cards may be over.
Faced with a raft of new regulations and customers who are spending less on their cards, executives at the nation’s biggest issuers of plastic such as J.P. Morgan Chase & Co. and Citigroup Inc. are bracing for a less profitable future. As a result, they are scrambling to figure out how to make money in a business that is shrinking while getting more costly to operate.
“As you look out into the future, we think the business will be smaller, but how much smaller remains to be seen,” said Chip Rossi–WSJ
Didn’t we bail those guys out?
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:35 pm
Bosch
August 27th, 2010
2:28 pm
I’m here,
No, it’s our nice way of saying your an idiot.
Jay, back up you previous rant about attacking bloggers! I’m holding my breath!
jm
August 27th, 2010
2:35 pm
When the middle class (that seems to enjoy majoring in political science, journalism, sports marketing, social studies, etc.) goes by the wayside, they will re-learn the importance of a practical education in relevant industries, like Math, Science, Engineering, and Technology majors. At that point, we can start to rebuild the middle class….
There are good jobs out there. But not if you’re an art major…. so maybe the end of the middle class temporarily will not be such a bad thing. Apparently people have to relearn lessons because the History majors in the world haven’t done a good enough job reminding people they need to get a good, but also practical, education.
HDB
August 27th, 2010
2:35 pm
Doggone/GA August 27th, 2010
2:32 pm
True, Clinton signed it….but it was led by the GOP with Gramm and Leach!! The GOP wanted to de-regulate the banking industry…….
@@
August 27th, 2010
2:35 pm
Oops! Forgot to add my financial advice.
Cash and Carry, people…cash and carry. If all you’ve got is CHANGE, carry that too.
jt
August 27th, 2010
2:36 pm
Hey HDB,,,,,,,,,,,,,,keep besmirching Sir Ronald Reagan. He was right.
So much for state’s rights. Your beloved Federalies fuel this shyte.
African-Americans represent:
• 12.7% of the US population
• 15% of US drug users
(72% of all users are white)
• 36.8% of those arrested for a
drug abuse violation
• 48.2% of American adults in State
or Federal prisons and local jails
• 42.5% of prisoners under
sentence of death
Through sheer demographics, States like Missisppi and Alabama and Georgia could have remedied these tragic statistics long ago. If not for people like you that yearn for a Federal Father.
Will you take the pledge????????????????
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:37 pm
jm
August 27th, 2010
2:30 pm
Gov’t – only good news is there’s 300 million of us. Alternative solution, everyone should have about 3 times as many babies as they currently plan on….
MORE babies for the Nanny State. Great idea Jim! Now, back to the CRACK!
Doggone/GA
August 27th, 2010
2:38 pm
“True, Clinton signed it….but it was led by the GOP with Gramm and Leach!! The GOP wanted to de-regulate the banking industry”
It doesn’t matter who lead it. “The buck stops here” and Clinton could have stopped it by not signing it. Or, if they passed it over his veto THEN it WOULD be their fault, but he signed it…it’s his fault.
jm
August 27th, 2010
2:38 pm
HDB – so did the dems. Frankly, at the time, I thought it a bit risk but not an entirely bad idea. Given the international nature of the banking industry and the fact that the ROW functioned without G-S, it didn’t seem absolutely crazy at the time.
Goes to show, sometimes no change isn’t a bad thing though. That said, we probably still would have had this crisis with G-S still in place. Fan/fred and the dems pushing for expansion (and Repubs signing on) of home ownership were the problem, not G-S.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
2:38 pm
HDB
August 27th, 2010
2:30 pm
I’m Here From The Government And I’m Here To Help
August 27th, 2010
2:24 pm
Question is — can they handle the TRUTH?? If not, no worries to me, man!!
Tom Cruise could, so I guess the rest of us poor little people can to. Try 19 paragraphs, we’ll get it then, foe sur!
@@
August 27th, 2010
2:39 pm
Acknowledging Good little liberal’s 2:33.
I concur.
Dave the Man
August 27th, 2010
2:39 pm
Nothing like putting your words in other people’s mouths, huh? It is YOU that called Obama supporters “delusional”– you. But, I certainly won’t argue your point on that one.
Big D
August 27th, 2010
2:41 pm
Sorry,
Had to make a little money…The fool quote is from Ben Franklin, but here is the best one that describes where the term Left and Right wing came from…you’re gonna squeal.
“A man’s heart is at the right hand of God; but a fools heart is at his left”
Ecclesiastes 10:2.
Have a lovely safe weekend to one and all.
Outa here…