mac_dog wrote: »
and not one person from wall street was tried and/or served time in jail for the crash several years ago.
shows you where the priorities are in this country.
You realize that 2023 is 9 years away, right?
Of course I do. Nine years out is bad enough. But to go out 74 years? C'mon, you can't be serious. (The only reason I provided even the data going out to 2024 is because I made a statement about the forecast of debt-to-GDP ratio in my original post, and since I said that I would provide links, I felt compelled to do so. At least, I am using a credible, non-partisan source like the CBO, unlike you).
The site that you linked looks like something I would not trust as far as I can throw them. I gave you the original sources. Take it or leave it.
(Again, kind of sad to see SpamSandwich adding to your 'reputation' every time you post, despite your use of some weird, tertiary source; perhaps it's a way to cover for his own laziness).
Most recent GDP numbers: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
Employment data: http://www.bls.gov/news.release/empsit.nr0.htm
Inflation data (actual): http://inflationdata.com/Inflation/Inflation_Rate/HistoricalInflation.aspx
Budget deficits (actual): http://www.bea.gov/iTable/iTable.cfm?reqid=16#reqid=16&step=1&isuri=1
Budget deficits (projected): https://www.cbo.gov/publication/45653
Debt-to-GDP: On this, I was wrong -- it is forecasted to rise from 74% of GDP in 2014 to 77% of GDP by 2024. I don't, however, view that as a major increase. (It is available from the same CBO source as linked above).
Data on stock markets: obvious
The fact that Spain, Greece, and Ireland control their fiscal policies but not monetary policies related to Euro: obvious.
Forgot to add:
Forecasted inflation rate in the US (through 2019): http://www.statista.com/statistics/244983/projected-inflation-rate-in-the-united-states/
US dollar against world currencies (higher number implies dollar appreciation -- I think I am linking you to the graph for the past year, but if not, click on "1Y" on the top right): http://www.bloomberg.com/quote/DXY:CUR
Regarding GDP, employment, inflation and deficits...all of which are currently under the influence of government artificial stimulus efforts, see this article, "Obama's Stimulus: Five Years of Keynesian Fairy Dust". That also applies to the hyper-inflated stock market right now.
(I'll continue to add to this)
Right. Even the housing bubble related part has no single culprit and has its roots in government government policy. Politicians and policy makers wanted to encourage home ownership so they made lending money for mortgages less risky (to banks); individual actors realized that lowering and lowering the barriers to lending was personally profitable (people had strong incentives to look the other way, or even encourage, fraud); with housing prices going up, up, up, no one was paying the price for bad gambles; clever (but not clever enough) financial wizards thought they had a way to eliminate risk by bundling risky mortgages; banks couldn't get enough of these new financial instruments and pushed for even more mortgages; etc. A complex house of cards that literally millions of people contributed to (including individual home owners who purchased houses that they would never be able to afford--except under the foolish assumption that housing prices would continue to rise for years to come). So, yeah, this is a little different from some guy caught red-handed selling trade secrets.
All this is fine and dandy, but who do you think dictates government policy?Most of the high ranking political posts are filled by industry executives. From the head of the Secretary of Treasury to the head of the FCC. The industry is essentially crafting its own laws. There once was a video circulating showing the Chairman of the Board of Chase telling Reagan to cut a speech short. Further, the crash of the housing market also coincides with the millions of jobs lost after the passage of NAFTA.
I have no doubt that if you say "artificial stimulus" long enough, you'll be right some day.
I hope you live to see it.
They didn't cause the Crash, it was the Government getting involved that caused the crash!!! The Government forcing banks to give out home loans to people who could never afford to pay the loans back. Which artificially caused home prices to rise to crazy high prices. It was only a matter of time before a crash happened. My Dad lost his house. My Brother ended up losing his house. Paid way to much for it!!!! Both houses ended up being Short Sale. Me I played it smart. I waited until a couple years ago and the got my house after the Big Drop. I got a nice house for a much lower price. Far more reasonable/realistic price.
They didn't get a slap because it was the Government that created the problem and the Government that bailed them out!!!
You're blaming the government?People got toxic home mortgages for several reasons. Pick one:1) They were too stupid to know better.
2) They were "conned" by a bank lender in believing they could afford more house than they really can. Hence, refer to reason #1.3) They knew they couldn't afford it, so they did it anyway, assumed that house values would go up, if it did they would take equity out, believe good times would always be there, rinse, repeat. Again, refer to reason #1.
4) They knew they couldn't afford it, but gambled that prices would go up quickly and flip house and make quick profit.5) They knew they couldn't afford it, but did it anyway, let property go in foreclosure, and then thanks to Obama, allow those that should never have gotten the loan in the first place renegotiate their loan and get better terms because Obama believes that stupid people shouldn't be penalized and instead, screw the people/homeowners that played by the rules the entire time. Where's their break?The government had nothing to do with it. You're remark is a classic example of adults refusing to take responsibility for their actions and just point the finger to someone else. I have zero sympathy for those folks. I have sympathy to people that work hard, buy a home that they can afford, and maybe even spend less, and practice financial responsibility.I know quite a few friends that "played" the system that way. They bought way more house than they knew they could afford, purposely let it go into default/foreclosure, only to get their loan renegotiated and now pay half what they used to. For them, obviously they won out. They get a bigger house that eventually they may make a pretty penny on someday, but their ignorance (and the idiots that wrote the mortgage to unreliable people that should never have gotten the loan) resulted in not only the financial markets taking a brutal beating, investors in mortgage securities that they thought were stable, losing their money, and honest hardworking, taxpaying citizens that were responsible from day one getting stuck with the bill.No sympathy from me. Tell the people you know to blame the person in the mirror. To blame the government is childish. The government didn't point a gun to their heads and told them to give them a loan they couldn't afford. Total BS.
A stimulus is artificial by definition. It involves outside forces acting to increase activity that would not happen otherwise. Take away the current QE and the economy would go right back into the gutter. Why in the world do you think we're currently $18 trillion in debt? It didn't happen because taxes aren't high enough, for Chrissakes.
Wikipedia: "In economics,stimulus refers to attempts to use monetary or fiscal policy (or stabilization policy in general) to stimulate the economy. Stimulus can also refer to monetary policies like lowering interest rates and quantitative easing."
The government is made of people (just like corporations). All people act in their own self-interest, it matters not who you are. In the case of business, if one makes bad business decision the business goes under...that is, until you are so deeply embedded in Washington that you simply demand your representatives in Congress and the President bail you out because they are also on the take. The taxpayers lose in all of this.
Article: "How Government Created the Financial Crisis"
There's a connection between QE and the level of US government debt? I'll be darned!
Please explain the connection. I'll wait.
Or perhaps AI was trying to turn a noun into a verb, and left out the apostrophe (plea'd)?
ericthehalfbee wrote: »
Just one person? What about the entire negotiating team for even a single supplier, which would likely comprise several high-level execs and their legal team. Surely they were made aware of the "information" so they could use it. Where did they think it came from?