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  #31  
Old 01-08-2018, 11:37 AM
Ike Bana Ike Bana is offline
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Quote:
Originally Posted by whell View Post
This is becoming tiresome. The default in this forum of late is to not discuss ideas or debate legitimately. Look at this post as an example of what happens when lack of dialogue gets completely out of control. Is this really the best we can do?

If you're interested at all, here's a balanced overview of how the CRA created the environment - and lead to the the politics - that contributed to the meltdown in 2008.

http://www.businessinsider.com/the-c...s-guide-2009-6

There are some good points here, and plenty of blame to go around. The "Bush did it" or the "Clinton did it" crowds can each find their own fodder, but if you only focus on one side, you'll miss the essential facts.
Debate legitimately? You think Zero has ever made a single fucking attempt to debate anything legitimately. My post contained a legitimate challenge to the FOX/EIB crap that Zero keeps dumping all over this forum. So OK fine, let's get to it.

The only conclusion this article come to is right in the first paragraph.

Quote:
... the evidence is overwhelming that the CRA played a significant role in creating lax lending standards that fueled the housing bubble.
So the CRA played a role in generating the housing bubble. Who says it didn't? Pay fucking attention because it wasn't me. But you have gone beyond what this article has suggested when you pitch the bullshit that the CRA generated the meltdown of 2008.

The subprime loan paper did not cause the meltdown. What the vampire investment bankers did with the subprime paper caused the meltdown. Their derivative products, and how Standard and Poor's and Moody's gave A ratings to Lehman's bundles full of D paper, is what caused the meltdown.

And here's the proof. On the day that Lehman Bros died...yes, the forclosure rate on home mortgages reached a point where it had doubled from the typical level. Doubled from 1% to 2% of all US home mortgages. ONE PERCENT TO TWO FUCKING PERCENT. The day Lehman closed up shop 98% of US mortgages were still solvent. Housing bubble my ass. The meltdown didn't happen when the housing bubble popped. The meltdown happened when Lehman (and Bear Stearns before them) couldn't cover the all the money they leveraged in order to buy all that subprime D paper that went into their products. Way before the housing bubble burst. In fact, the housing bubble burst because of the meltdown...it was not the cause of the meltdown.

The meltdown happened because the investment bankers didn't want to spend any of their capital to build their derivative products. The CRA had nothing directly to do with the meltdown...it was the bankers leveraged at 40 to 1 or more.

Learn something. It's easy reading...go read "The Big Short." If that's too much work for you go to the fucking library and get the DVD and fucking learn something.

Last edited by Ike Bana; 01-08-2018 at 11:40 AM.
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  #32  
Old 01-08-2018, 11:38 AM
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whell whell is offline
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By the way, can't help but notice the left getting all fired up this morning about Oligarch Oprah running for President.
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  #33  
Old 01-08-2018, 11:52 AM
Ike Bana Ike Bana is offline
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Originally Posted by whell View Post
By the way, can't help but notice the left getting all fired up this morning about Oligarch Oprah running for President.
Who's the left? Am I the left? Have you fucking asked me or anybody else from "the left" whatever the fuck that is, what we think about Oprah running for president?

Go ahead, numbnuts...ask me.
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  #34  
Old 01-08-2018, 12:10 PM
Chicks Chicks is offline
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Originally Posted by whell View Post
By the way, can't help but notice the left getting all fired up this morning about Oligarch Oprah running for President.
Donny thought it was a great idea, more than once.

http://abcnews.go.com/GMA/video/dona...-mate-31807541
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  #35  
Old 01-08-2018, 12:10 PM
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bobabode bobabode is offline
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Originally Posted by whell View Post
By the way, can't help but notice the left getting all fired up this morning about Oligarch Oprah running for President.


You have some brass balls to trundle in here bemoaning the dearth of civility and lack of honest debate while lighting that paper bag full of dogshit on fire, Mike.

Truly amazing and stellar work there, Skippy. I see you haven't changed a whit.
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Last edited by bobabode; 01-08-2018 at 12:23 PM.
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  #36  
Old 01-08-2018, 12:57 PM
Chicks Chicks is offline
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Originally Posted by ZeroJunk View Post
Meanwhile the GDP is taking off, 401K's are taking off, people are going to have more money in their pocket next month.

It is a shame we couldn't have had eight more years of the SOS.
If you buy into the moronic idea that Donny had anything to do with last year’s stock market gains, which were almost as good as 2013 under Obama, then you will have to agree that Donny seriously underperformed vs foreign countries. Here are my results from Personal Capital for last year. Yes, I outperformed the S&P 500, thanks to my foreign holdings. No thanks whatsoever to Donny. But then an unemployed fool like you would have zero understanding of markets, obviously.

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  #37  
Old 01-08-2018, 01:21 PM
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whell whell is offline
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Originally Posted by Ike Bana View Post
Who's the left? Am I the left? Have you fucking asked me or anybody else from "the left" whatever the fuck that is, what we think about Oprah running for president?

Go ahead, numbnuts...ask me.
Name calling again. Tiresome, and not worth any more of my time.
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  #38  
Old 01-08-2018, 01:26 PM
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whell whell is offline
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Originally Posted by bobabode View Post
You have some brass balls to trundle in here bemoaning the dearth of civility and lack of honest debate while lighting that paper bag full of dogshit on fire, Mike.

Truly amazing and stellar work there, Skippy. I see you haven't changed a whit.
Second time the subject of my balls have come up again in this thread.

Yeah, I did Bob. Its funny to watch you get all indignant about it too. In case you didn't notice, I just did what I usually do. I dared to post something relevant in this thread - including a link that supports it. And then folks like you do what they usually do: ignore it, so that they can get on with their rants and other lunacy.

Glad you like my work, though.
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  #39  
Old 01-08-2018, 01:49 PM
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whell whell is offline
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Originally Posted by Chicks View Post
If you buy into the moronic idea that Donny had anything to do with last year’s stock market gains, which were almost as good as 2013 under Obama, then you will have to agree that Donny seriously underperformed vs foreign countries. Here are my results from Personal Capital for last year. Yes, I outperformed the S&P 500, thanks to my foreign holdings. No thanks whatsoever to Donny. But then an unemployed fool like you would have zero understanding of markets, obviously.

Not terribly relevant: comparing a single sector's 12 month performance versus the S&P 500. The S&P 500 is made up of of stocks that represent a reasonable cross - section of the market. Not everyone only stock, or only S stocks in their portfolio, as you exemplify. In fact, prudent investors diversify across a number of markets / sectors to manage risk.

Glad that your portfolio did well. In the US, some markets did better than others in 2017. Same can be said nearly every year.

What is interesting about the US market's performance in 2017 is the speed of the run up in the marekt, coupled with the economic growth numbers for the year. Details are here: https://www.thebalance.com/dow-jones...e-1929-3306174. Also, the economic growth through Q3 2017 was the fastest in 3 years. Both numbers are encouraging.

What's interesting to me is that US markets continue their bullish trend. Markets don't rise based on what happen today, yesterday or tomorrow. Stock rise against a long term view measured in weeks, months or years in the future depending on the market or commodity traded. So, the long term view is favorable, fueled by an environment of lower regulation and a more favorable tax outlook.
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  #40  
Old 01-08-2018, 03:11 PM
Chicks Chicks is offline
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IOW, you agree with Nobel prize winning economist Paul Krugman that, unlike Zero’s assertion, Donny had nothing to do with last year’s market performance.

http://www.businessinsider.com/paul-...market-2017-12
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