Vegas Free-for-All - Hillary Clinton

Hillary Clinton

forkushV

Aug 18, 2015
1:17am

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Originally posted by: alanleroy
Of course a lot of that household wealth lost was artificially inflated home valuations. That's what happens when you have a housing bubble. It's even worse when millions treat their artificially inflated home equity as an ATM machine.

True, but you know what's worse than that? When a President, Secretary of the Treasury, and Chairman of the Fed see what is happening and do nothing to apply the brakes, because without that illusory economic boom, their economy would have flatlined or worse.

alanleroy

Aug 18, 2015
1:35am

Block User

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Originally posted by: forkushV

Quote
Originally posted by: alanleroy
Of course a lot of that household wealth lost was artificially inflated home valuations. That's what happens when you have a housing bubble. It's even worse when millions treat their artificially inflated home equity as an ATM machine.

I put it mostly in the court of Alan Greenspan's Loose Money policy. Never could have happened without it. And where were our House and Senate Banking Committees who have oversight responsibility? Asleep at the wheel. And then you have credit rating agencies in conspiracies with banks, trillions in derivatives hedged on miss-rated debt and a bubble in oil prices to finally tip it all over. It was a perfect storm. I'm glad you're no longer blaming the whole catastrophe on repeal of banking regulations or George Bush anymore though. There was a lot of blame for it.

Boilerman

Aug 18, 2015
2:00am

Block User

7 years and about $8 trillion later, it's still Bush's fault with Forkie. Wow.

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Originally posted by: forkushV

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Originally posted by: Boilerman
7 years and about $8 trillion later, it's still Bush's fault with Forkie. Wow.

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Originally posted by: forkushV
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Originally posted by: CowboyKell
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Originally posted by: forkushV
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Originally posted by: CowboyKell
So, lets put the idea of the war itself aside, you don't like it and that's fine. However, of all that money spent on the war, how much do you think stays in Iraq and how much is actually circulated in the US economy?

Since the beginning of time on Earth the greatest motivators of growth and prosperity have been war and exploration.
Which is why Obama inherited such a booming economy from President Bush, right?

Of course it's government spending that can spur the economy (John Maynard Keynes 1883-1946). There is nothing magical about spending it on bombs and bullets that makes it super special for our joint prosperity.

But here's the thing. When the government spends money on bombs and bullets, you end up with blown up stuff and dead people - and an improved economy. When the government spends money on infrastructure and health care, you end up with better roads and healthy people - and an improved economy.

I like option B.

I like option B too. But when you are making an argument you have to remember that option A is always, ALWAYS, in every economy in history, more successful.
Which is why Obama inherited such a booming economy from President Bush, right?

Actually I blame the Great Recession, which I blame on Bush, a horrible Treasury Secretary, a horrible Fed chair, and even Bill Clinton and the centrist Democrats.

And if we're only down $8 trillion I'd be surprised. The great recession cost more like $16 trillion in household net worth alone.

Boilerman

Aug 18, 2015
2:02am

Block User

7 years and 8 trillion in debt, and the crappy economy is still Bush's fault. Forkie's type can't even accept the obvious fault.

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Originally posted by: forkushV

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Originally posted by: Boilerman
7 years and about $8 trillion later, it's still Bush's fault with Forkie. Wow.

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Originally posted by: forkushV
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Originally posted by: CowboyKell
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Originally posted by: forkushV
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Originally posted by: CowboyKell
So, lets put the idea of the war itself aside, you don't like it and that's fine. However, of all that money spent on the war, how much do you think stays in Iraq and how much is actually circulated in the US economy?

Since the beginning of time on Earth the greatest motivators of growth and prosperity have been war and exploration.
Which is why Obama inherited such a booming economy from President Bush, right?

Of course it's government spending that can spur the economy (John Maynard Keynes 1883-1946). There is nothing magical about spending it on bombs and bullets that makes it super special for our joint prosperity.

But here's the thing. When the government spends money on bombs and bullets, you end up with blown up stuff and dead people - and an improved economy. When the government spends money on infrastructure and health care, you end up with better roads and healthy people - and an improved economy.

I like option B.

I like option B too. But when you are making an argument you have to remember that option A is always, ALWAYS, in every economy in history, more successful.
Which is why Obama inherited such a booming economy from President Bush, right?