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Thread: 1% Debates the 99%

  1. #1
    Registered User Inquistive is offline
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    1% Debates the 99%

    Peter Schiff is an idiot. These people are clueless though.


  2. #2
    where de crix Oneshot's Avatar Oneshot is offline
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    why is he an idiot?

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    Registered User Inquistive is offline
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    Quote Originally Posted by Oneshot View Post
    why is he an idiot?
    His arguments don't add up.


    First of all, it's deregulation that caused the mortgage meltdown. It wasn't the fed.

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by optimizm View Post
    His arguments don't add up.


    First of all, it's deregulation that caused the mortgage meltdown. It wasn't the fed.
    1) regulation (community reinvestement act) encouraged banks to make loans to people who were not creditworthy. look up the community re

    2) fannie and feddie fanned the fires of the real estate market

    3) the government actively encourages investment in housing via the tax code

    4) the fed maintained low interest rates DESPITE inflation.

    those are four solid points

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    Registered User Inquistive is offline
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    Quote Originally Posted by Oneshot View Post
    1) regulation (community reinvestement act) encouraged banks to make loans to people who were not creditworthy. look up the community re

    2) fannie and feddie fanned the fires of the real estate market

    3) the government actively encourages investment in housing via the tax code

    4) the fed maintained low interest rates DESPITE inflation.

    those are four solid points
    1. The Community Reinvestment Act was enacted in the late 70s. The housing meltdown occurred in 2008. There is no correlation. This is of one the Repuke myths. In fact, housing prices were going up and down upon the passing of CRA.

    2. Fannie and Freddie did not do the leverage and speculation of bad assets. It was the financial institutions, my friend.

    3. I agree with you on this, but if there is regulation, it can be managed.

    4. This did not cause the bubble.

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by optimizm View Post
    1. The Community Reinvestment Act was enacted in the late 70s. The housing meltdown occurred in 2008. There is no correlation. This is of one the Repuke myths. In fact, housing prices were going up and down upon the passing of CRA.

    2. Fannie and Freddie did not do the leverage and speculation of bad assets. It was the financial institutions, my friend.

    3. I agree with you on this, but if there is regulation, it can be managed.

    4. This did not cause the bubble.
    2) fannie freddie insured the mortgages reducing the risk by banks, and increasing the market for the same mortgages

    4) so you believe if interest rates were higher people would still flip houses?

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    Registered User Inquistive is offline
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    Quote Originally Posted by Oneshot View Post
    2) fannie freddie insured the mortgages reducing the risk by banks, and increasing the market for the same mortgages

    4) so you believe if interest rates were higher people would still flip houses?
    Really?

    3. During those same years, Fannie and Freddie were sidelined by Congressional pressure, and saw a sharp drop in their share of securitization:



    while securitization by private players surged:

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by optimizm View Post
    Really?
    what is 40% of 500B?

    Do you realize that the american tax payers have to be pay for all of Fannie and Freddie debts?

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    Quote Originally Posted by Oneshot View Post
    what is 40% of 500B?

    Do you realize that the american tax payers have to be pay for all of Fannie and Freddie debts?

    lol

    Do you realize that the US tax payers have to pay for the debt of private financial institutions?

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    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by optimizm View Post
    lol

    Do you realize that the US tax payers have to pay for the debt of private financial institutions?
    that because the government decided to, which is wrong.

    socialism (private profits, public debts)

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    Banned Capitaine is offline
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    Lol debate

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    Registered User Jaymaca is offline
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    Oh so now Socialism, Corporatism, and what-the-fuk-isms have replaced Capitalism?

    This Occupy Wallstreet has spread to London as Occupy London (unsurprisingly). Some of the Occupy London are not anti-capitalists but dont like the "obscene wealth"...kmt...contradictory if you ask me. Not saying i'm against or for it but just noting that "Capitalism" or profits from banks generate billions in tax revenue so if some wise person(s) has(ve) got some mind-blowing solution what is the alternative?

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