Worst. President. Ever… Obama Second Quarter GDP at 1.7% –

[WCH]

I'm sorry, but part of the blame must lie at the feet of the uninformed / uneducated public.

Yep, Clinton neglected to get these people good legal representation before that went and put their X on them papers.

 

[zgoldsmith23]

Yep, Clinton neglected to get these people good legal representation before that went and put their X on them papers.

They shouldn't need legal representation.

 

[WCH]

They shouldn't need legal representation.

Normal folks don't. These people didn't read any of the fine print. They got a cheap deal up front then claimed they knew nothing of the balloon payment increases.

 

[shrubnose]

Worst. President. Ever…

Obama Second Quarter GDP at 1.7% – Worst Growth Rate Since Depression

by Jim Hoft
July 31, 2013




Worst. President. Ever.
Obama GDP rate reaches new lows.

(Market Watch)

Via Drudge:
Income inequality rose faster under Obama than Bush or Clinton…
1st Q GDP revised to 1.1% from 1.8%…

The AP reported:

U.S. economic growth accelerated in the April-June quarter to a seasonally adjusted annual rate of 1.7 percent, as businesses spent more and the federal government cut less.

The Commerce Department says growth improved from a sluggish 1.1 percent rate in the January-March quarter, which was revised from an initial 1.8 percent rate. The pickup in growth was surprising as most economists predicted a far weaker second quarter.

Consumers increased their spending more slowly in the second quarter. And a surge in imports reduced growth by the most in three years. But the federal government cut spending only 1.5 percent. And state and local governments increased spending for the first time in a year.

And, there’s more…
Unemployment and Deficits are at record levels.

http://4-ps.googleusercontent.com/h...Bush_vs_Obama.jpg.pagespeed.ic.3OyLK7NY-f.jpg​

Urban Grounds


[Excerpt]

Read more:
Worst. President. Ever… Obama Second Quarter GDP at 1.7% – Worst Growth Rate Since Depression | The Gateway Pundit


Of course we are told everything is coming up roses, while the true state of affairs is dire.

Actually a 2010 Siena poll of 238 presidential scholars found that President George W. Bush was ranked 39th out of 43 U.S. presidents.Meanwhile, the current president, Barack Obama was ranked 15th out of 43.

Go the link and read about it yourself: http://en.wikipedia.org/wiki/Historical_rankings_of_presidents_of_the_United_states#Notable_scholar_surveys




Has Wehrwolfen ever posted anything with a smidgen of truth to it on this forum?

If he did, I missed it.

 

[zgoldsmith23]

Normal folks don't. These people didn't read any of the fine print. They got a cheap deal up front then claimed they knew nothing of the balloon payment increases.

And that's their fault. Read the fine print, especially when it's something like signing a document that deals with larger sums of money (i.e. purchasing a home).

 

[fmw]

No control?

That's what I said.

 

[CanadaJohn]

I have to say that the chart provided does nothing for me and makes no sense nor provides any seemingly logical comparisons for the average person to make judgements on. It seems to have simply drawn dates out of a hat(e) to give the worse possible Obama slant.

People will know I'm no fan of Obama - I think his Presidency has been a disaster and people doubling down on stupid last November was an exercise in self-flagellation - but there are so many real things to be critical of Obama on why waste time manufacturing blatantly biased nonsense.

 

[Wehrwolfen]

If Republicans would ever post an honest evaluation, it'd be easier to take them seriously. Of course, an honest evaluation would completely defeat the stupid stuff they want people to believe, so you can see why that won't happen.

We've been waiting for you to supposedly do that rather than gripe about the posts of others. Let's see the honest evaluation you can supply to the readers. If you can?

 

[Vern]

Clinton pushed HUD to underwrite loans to lower-income folks. He was well-intentioned, he wanted lower income people to be able to afford to buy rather than rent their homes, however it backfired a decade later when said loans went bad (the poor folks couldn't pay them).

The original underwriters had taken those loans, packaged them as investment instruments, and sold them to the banks of the world. Those banks sold them to investors.

Crash, boom, and the economy crumbles.

I will say this for Bush - he was too dumb to see the writing on the wall and do anything about it, and he was responsible for allowing the loans to be sold off in the first place.

sorry pete, blaming Clinton is just another easily debunked myth. Please read my "Bush Mortgage Bubble FAQs" or "Bubble Bubble can you spot the bubble" threads.

Bush Mortgage Bubble FAQs

Bubble Bubble. can you spot the bubble

here's the first link you need to know

http://www.treasury.gov/resource-center/fin-mkts/Documents/q4progress update.pdf

Bush’s Working Group on Financial Markets October 2008

The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.

 

[specklebang]

Certainly. Everyone should be adept at managing finances. Even I, a near lifelong businessman makes mistakes. I know many people who function from paycheck to paycheck because they don't have whatever it is that it takes to fully understand financial management.

So, sure, blame the public to whatever degree you feel is correct. But let me use one of my anecdotes that nobody respects.

My friend G, who has worked at a major casino almost all his working years, is a responsible guy. In the 20 years I've known him, he's never asked me for anything but my time and charming companionship. He lived in a $300 a month apartment where the owner never raised his rent. I told him that with a deal like that, to never buy a house. He didn't listen to me and in 2000 bought a modest, new house for $130K. By 2005, his house was selling for $250K. So, he borrowed back to $130K (he owed about $110K) and bought a decent car (finally). By 2010, his house was worth $60K and he owes twice that. Now, prices are coming back but.....so I limitit the blame on the population. We foolishly trust our leadership.

I'm sorry, but part of the blame must lie at the feet of the uninformed / uneducated public.

 

[Vern]

Clinton screwed up and Bush didn't do his job stopping it.

So Clinton opened the path to the asylum and Bush ignored it until it exploded.

so speckle, its Clinton's fault and Bush "did nothing to stop it" or "ignored it". mmmm, your previous statements were Clinton started it and Bush made it worse.

Bush carries much blame because he not only ignored it, he acerbated it. .

I simply post facts that's why my posts are consistent from thread to thread. anyhoo, since Bush told you it started late 2004 when Banks lowered their lending standards I don't see the connection to Clinton. I do see the connection between bush's policies and statements that would explain why banks not only lowered their lending standards in late 2004 but would also explain why Bush's regulators did nothing to stop it.

Bush gives speech everywhere wanting 5.5 million new minority homeowners 2002-2004
Bush tells congress there is nothing wrong with GSE's 2003
Bush stops GSE reform 2003
Bush protects predatory lenders 2004
Bush reverses Clinton rule that restricts GSEs subprime purchases 2004
Bush gives away 40,000 free home downpayments
Bush relaxes net capital rule 2004
Bush allows Zero Downpayments (0)
Bush forces GSEs to buy more low income home loans 2004
Bush attacks GSE reform 2005
Bush says there is no bubble 2005

 

[Wehrwolfen]

so speckle, its Clinton's fault and Bush "did nothing to stop it" or "ignored it". mmmm, your previous statements were Clinton started it and Bush made it worse.



I simply post facts that's why my posts are consistent from thread to thread. anyhoo, since Bush told you it started late 2004 when Banks lowered their lending standards I don't see the connection to Clinton. I do see the connection between bush's policies and statements that would explain why banks not only lowered their lending standards in late 2004 but would also explain why Bush's regulators did nothing to stop it.

Bush gives speech everywhere wanting 5.5 million new minority homeowners 2002-2004
Bush tells congress there is nothing wrong with GSE's 2003
Bush stops GSE reform 2003
Bush protects predatory lenders 2004
Bush reverses Clinton rule that restricts GSEs subprime purchases 2004
Bush gives away 40,000 free home downpayments
Bush relaxes net capital rule 2004
Bush allows Zero Downpayments (0)
Bush forces GSEs to buy more low income home loans 2004
Bush attacks GSE reform 2005
Bush says there is no bubble 2005

Vern I bet you blame Bush too, when you get hang nails or your significant other refuses to have sex with you.

 

[Slyfox696]

We've been waiting for you to supposedly do that rather than gripe about the posts of others. Let's see the honest evaluation you can supply to the readers. If you can?

If you're still waiting on something I posted 2 hours ago and is the 8th post of this thread, I would suggest that says quite a bit about you.

 

[zgoldsmith23]

Certainly. Everyone should be adept at managing finances. Even I, a near lifelong businessman makes mistakes. I know many people who function from paycheck to paycheck because they don't have whatever it is that it takes to fully understand financial management.

So, sure, blame the public to whatever degree you feel is correct. But let me use one of my anecdotes that nobody respects.

My friend G, who has worked at a major casino almost all his working years, is a responsible guy. In the 20 years I've known him, he's never asked me for anything but my time and charming companionship. He lived in a $300 a month apartment where the owner never raised his rent. I told him that with a deal like that, to never buy a house. He didn't listen to me and in 2000 bought a modest, new house for $130K. By 2005, his house was selling for $250K. So, he borrowed back to $130K (he owed about $110K) and bought a decent car (finally). By 2010, his house was worth $60K and he owes twice that. Now, prices are coming back but.....so I limitit the blame on the population. We foolishly trust our leadership.

It's really simple math, to me. And it's not about a perfect understanding of financial markets, etc. but it's about having a grasp on reality and understanding economics. Any undergraduate can tell you these things. These people were going out with Hyundai / Kia money and financing a Mercedes.

In regards to your story, that sucks but, like you said, don't trust your leadership.

 

[Vern]

Vern I bet you blame Bush too, when you get hang nails or your significant other refuses to have sex with you.

er uh wolf, I couldn't help but notice you didn't address any of the facts I posted. between that and the silly lying editorials you post, it seems you are allergic to facts.

 

[Peter Grimm]

That's what I said.

You did?

 

[specklebang]

It's simple math to me also but I don't think it's simple math to everyone. Expecting everyone to have your degree of intellect is really not fair.

It's really simple math, to me. And it's not about a perfect understanding of financial markets, etc. but it's about having a grasp on reality and understanding economics. Any undergraduate can tell you these things. These people were going out with Hyundai / Kia money and financing a Mercedes.

In regards to your story, that sucks but, like you said, don't trust your leadership.

 

[zgoldsmith23]

It's simple math to me also but I don't think it's simple math to everyone. Expecting everyone to have your degree of intellect is really not fair.

Yes it is. If I can do it, so can they. What's the Golden Rule again? Treat others as you want to be treated (paraphrased)? Yeah - that.

 

[specklebang]

You really need to retake Analogy 101. The Golden Rule has nothing to do with financial planning ability.

So anyone not as smart as you is inferior to you? Or do you view yourself as so below average that anyone else must be at least as wise as you? That's, well, a bit harsh.

Yes it is. If I can do it, so can they. What's the Golden Rule again? Treat others as you want to be treated (paraphrased)? Yeah - that.

 

[Wehrwolfen]

er uh wolf, I couldn't help but notice you didn't address any of the facts I posted. between that and the silly lying editorials you post, it seems you are allergic to facts.

When you begin to address the posts cogently I will respond in kind.

 

[zgoldsmith23]

You really need to retake Analogy 101. The Golden Rule has nothing to do with financial planning ability.

So anyone not as smart as you is inferior to you? Or do you view yourself as so below average that anyone else must be at least as wise as you? That's, well, a bit harsh.

I didn't say the Golden Rule had anything to do with financial planning ability. It, does, however, pertain to how you treat others. I'd tend to view myself as more of the latter than the former.

 

[Vern]

When you begin to address the posts cogently I will respond in kind.

oh wolf, that’s even more hysterical and hypocritical than you attacking people’s sources. How did I not respond cogently to Speckle and Pete? Please be specific.

 

[Vern]

When you begin to address the posts cogently I will respond in kind.

oh wolf, that’s even more hysterical and hypocritical than you attacking people’s sources. How did I not respond cogently to Speckle and Pete? Please be specific.

wolf? where'd you'd go? I guess I did address the posts "cogently". Even pete and speckle had no reply.