Political Wrinkles  

Go Back   Political Wrinkles > Political Forums > Economics
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

Economics Discuss Disappointing Economy on the Horizon at the Political Forums; Originally Posted by saltwn From Jan 20, 2001 until January 3, 2007, both houses of congress were controlled by Republicans. ...

Reply
 
Share LinkBack Thread Tools Display Modes
  #21 (permalink)  
Old 05-19-2021, 07:40 AM
GetAClue's Avatar
PW Enlightenment
 
Join Date: Jan 2011
Location: Northern Ohio
Gender: Male
Posts: 9,265
Thanks: 13,710
Thanked 10,085 Times in 5,735 Posts
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by saltwn View Post
From Jan 20, 2001 until January 3, 2007, both houses of congress were controlled by Republicans.
(Nancy Pelosi became House speaker in 2007, but Dick Cheney remained the Senate President until until January 20, 2009).

The Bush tax cuts --

Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)
Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)

(source WIKI)
The crash in 2008 was due to the lowering of the lending standards years earlier by Carter and Clinton. It was precipitated by the Democrat led Congress by allowing Fanny and Freddie to peddle worthless mortgage securities to unsuspecting buyers. When the Bush admin warned the Barney Frank led House Financial Services Committee of the impending financial crises, they were dismissed out of hand.

In short, the crises of 2008 was NOT of actions done in 2008, but was a crescendo of actions that had been brewing since the Carter administration's policy of pushing unsecured loans for low income families.
__________________
To argue with a person who has renounced the use of reason is like administering medicine to the dead - Thomas Paine

A lie doesn't become truth, a wrong doesn't become right, and Evil doesn't become good, just because it is accepted by the majority. - Booker T Washington
Reply With Quote
The Following 2 Users Say Thank You to GetAClue For This Useful Post:
  #22 (permalink)  
Old 05-20-2021, 11:57 PM
FrancSevin's Avatar
Runs with scissors
 
Join Date: Mar 2014
Location: St Louis MO
Gender: Male
Posts: 16,072
Thanks: 11,328
Thanked 15,665 Times in 8,411 Posts
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by GetAClue View Post
The crash in 2008 was due to the lowering of the lending standards years earlier by Carter and Clinton. It was precipitated by the Democrat led Congress by allowing Fanny and Freddie to peddle worthless mortgage securities to unsuspecting buyers. When the Bush admin warned the Barney Frank led House Financial Services Committee of the impending financial crises, they were dismissed out of hand.

In short, the crises of 2008 was NOT of actions done in 2008, but was a crescendo of actions that had been brewing since the Carter administration's policy of pushing unsecured loans for low income families.
Don't forget in 2006 the Democrats won control of the House and Pelosi put a stop to any new offshore drilling. They did nothing to encourage growth of the economy. Gas prices soared, along with unemployment, and the working class couldn't pay their mortgages.

With wages stagnate and prices of everything rising, no help or relief came from Congress.

But blame the President?

OKAY I will, things got sooooo much better under Obama. Of course the GOP led Congress was no better for the average American worker.

If anyone has trouble understanding my point, I'll try to be clear...; Neither party has been for the average hardworking Citizens of this country for decades.

It is why Trump, for all his faults, was popular in 2016.
__________________
I am going to hang a Batman Costume in my closet. .......... Just to screw with myself when I get alzheimer's.
sola gratia, sola fide, sola scriptura.

I AM NOT A REPUBLICAN, I AM A FREEMAN, THE DEMOCRATS WORST NIGHTMARE
Reply With Quote
The Following 4 Users Say Thank You to FrancSevin For This Useful Post:
  #23 (permalink)  
Old 09-29-2021, 01:41 PM
Dog Man's Avatar
Down Boy!
 
Join Date: May 2013
Location: Southern Nevada
Gender: Male
Posts: 15,970
Thanks: 10,864
Thanked 9,063 Times in 5,966 Posts
Default Re: Disappointing Economy on the Horizon

Is anyone else noticing the increase in pricing across the board?

Our customers/contractors, are freaking out, we have more than doubled our prices due to manufacturing price increases, and the lead times have doubled and tripled for many.

Surcharges alone have been 25-45% I believe this is one of the reasons the stock market has been tanking.

My wife and I saw our financial advisor a couple weeks ago, and he is NOT throwing our money into the markets.

We are waiting for a bottom, that is currently not in sight
__________________
Political Correctness, is Fascism masquerading as manners - George Carlin.
Reply With Quote
  #24 (permalink)  
Old 11-16-2021, 11:26 AM
Dog Man's Avatar
Down Boy!
 
Join Date: May 2013
Location: Southern Nevada
Gender: Male
Posts: 15,970
Thanks: 10,864
Thanked 9,063 Times in 5,966 Posts
Default Re: Disappointing Economy on the Horizon

https://www.westernjournal.com/biden...233493ad3fef83

Most of us knew this would happen, even the Democrats should be smart enough to not believe their taxes would not go up.

The also thought Biden would go after the rich, but Trump actually made the Rich pay more than Biden is making them pay.

I swear, the left will believe anything a Democrat says.
__________________
Political Correctness, is Fascism masquerading as manners - George Carlin.
Reply With Quote
The Following 2 Users Say Thank You to Dog Man For This Useful Post:
  #25 (permalink)  
Old 11-16-2021, 12:25 PM
saltwn's Avatar
PW Enlightenment
 
Join Date: Oct 2007
Location: Esto perpetua
Posts: 88,589
Thanks: 57,236
Thanked 26,915 Times in 19,357 Posts
Send a message via AIM to saltwn Send a message via MSN to saltwn Send a message via Yahoo to saltwn
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by GetAClue View Post
The crash in 2008 was due to the lowering of the lending standards years earlier by Carter and Clinton. It was precipitated by the Democrat led Congress by allowing Fanny and Freddie to peddle worthless mortgage securities to unsuspecting buyers. When the Bush admin warned the Barney Frank led House Financial Services Committee of the impending financial crises, they were dismissed out of hand.

In short, the crises of 2008 was NOT of actions done in 2008, but was a crescendo of actions that had been brewing since the Carter administration's policy of pushing unsecured loans for low income families.
Actually no it was lowering taxes on the rich. Same thing that caused recession in the 80s. If it hadn't been for elder Bush raising them a bit, we would have had a depression.
__________________
During Trump's tenure, the US economy contracted 3.5% - the fastest rate since 1946. GDP growth was the worst since the Great Depression.
link

link
Reply With Quote
  #26 (permalink)  
Old 11-16-2021, 12:27 PM
saltwn's Avatar
PW Enlightenment
 
Join Date: Oct 2007
Location: Esto perpetua
Posts: 88,589
Thanks: 57,236
Thanked 26,915 Times in 19,357 Posts
Send a message via AIM to saltwn Send a message via MSN to saltwn Send a message via Yahoo to saltwn
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by Dog Man View Post
https://www.westernjournal.com/biden...233493ad3fef83

Most of us knew this would happen, even the Democrats should be smart enough to not believe their taxes would not go up.

The also thought Biden would go after the rich, but Trump actually made the Rich pay more than Biden is making them pay.

I swear, the left will believe anything a Democrat says.
Tax increases were built into the Trump tax redo. I tried to tell you that and it's also difficult to undo. no sunset provision.
__________________
During Trump's tenure, the US economy contracted 3.5% - the fastest rate since 1946. GDP growth was the worst since the Great Depression.
link

link
Reply With Quote
  #27 (permalink)  
Old 11-16-2021, 12:30 PM
GetAClue's Avatar
PW Enlightenment
 
Join Date: Jan 2011
Location: Northern Ohio
Gender: Male
Posts: 9,265
Thanks: 13,710
Thanked 10,085 Times in 5,735 Posts
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by saltwn View Post
Actually no it was lowering taxes on the rich. Same thing that caused recession in the 80s. If it hadn't been for elder Bush raising them a bit, we would have had a depression.
Once again, you look for very simplistic explanations to complex problems that fit into your world view. If you cared enough for the issue to actually study what happened and why, you might get a glimpse into the issues we are seeing today. I don't expect that you will, but that does not prevent me from pointing you in the right direction.
__________________
To argue with a person who has renounced the use of reason is like administering medicine to the dead - Thomas Paine

A lie doesn't become truth, a wrong doesn't become right, and Evil doesn't become good, just because it is accepted by the majority. - Booker T Washington
Reply With Quote
  #28 (permalink)  
Old 11-17-2021, 08:26 AM
Conservative Sage
 
Join Date: Mar 2010
Location: Scottsdale, AZ
Posts: 20,549
Thanks: 14,335
Thanked 15,676 Times in 8,958 Posts
Send a message via ICQ to AZRWinger
Default Re: Disappointing Economy on the Horizon

Quote:
Originally Posted by saltwn View Post
Tax increases were built into the Trump tax redo. I tried to tell you that and it's also difficult to undo. no sunset provision.
The Trump tax reform reduced business tax rates to make the US competitive for capital investment with the other developed nations in the world. Individual taxes were also reduced but to meet the rules of reconciliation the reform has a sunset clause. Remember it was Democrat Harry Reid who "pioneered" twisting the reconciliation rules into a means of passing massive spending bills while avoiding the filibuster to cram Obamacare's Federal takeover of healthcare down the People's throat.

It's often overlooked that President Trump not only cut taxes across the board he directed an aggressive reduction in Federal regulations which set off a wave of economic growth and prosperity pre pandemic. That's quite a contrast to Joe Brain Damage with his failed Build Back Broke authoritarian imposition of a managed economy by executive decree.
__________________
If Democrats were confident their nominee actually received more than 80 million votes they wouldn't have more troops occupying Washington, DC than Lincoln had defending the city during the Civil War. Not Joe Biden, Kim Jung Biden.
Reply With Quote
The Following 2 Users Say Thank You to AZRWinger For This Useful Post:
Reply

Tags
disappointing, economy, horizon, the

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 11:08 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2022, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0