Possible Trump Win?

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The biggest problem with the 08 recession was the bailouts of the banks and the auto industry. If they’d been left to die things would have been better. Too big to fail shouldn’t be in our lexicon.
 
The other problem with the housing market crash in 2008 was that banks got blamed for 100% as in greedy big banks …

But in the years 2005-2008 when the housing boom started I read news story after news story about the mortgage market and refinancing … and I watched friends and family and heard just about everyone talking about refinancing homes multiple times, taking out equity with every refinance to pay off credit card debt and fancy vacations and cars - many were buying and flipping houses for the quick buck … bidding wars, escalating housing costs and building material costs. Mortgages based on 125% of value vs 80%.

That bubble was fueled by greed - greed all around - banks and average people … all trying to get rich and living beyond their means … then the crash and the biggest cry babies were the people I knew had refinanced mortgages to roll credit card debt, car loans and vacations - not once but multiple times during the years leading up to 2008 and had also maxed out credit cards and purchased automobiles [other motorized toys] once again … when the market crashed - they were left with more payments and debt than they could repay … because that pyramid scheme they had come to depend upon vanished into the ether …
 
Yep. There’s a reason Christianity/Islam/and Judaism forbade debt.
 
Canvas said:
Fact: The Great Recession started in Q4 2007 and exploded fully after the mortgage market went under in the fall of 2008, before the election, when George W. Bush was still President. Do you not remember GOP candidate McCain suspending his campaign because of the unprecedented nature of the crisis?
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I thought that the cause of this was when mortgages were given to people who really didn’t have the financial chops (good job with a good wage) to pay 30 years worth of payments, often high payments (close to a thousand dollars a month).

So as even a junior high economics student would have predicted, these people couldn’t make the payments, and they were foreclosed, or they were underwater financially.

There were a lot of these foreclosures, and that was one of the main causes of the recession.

Is this not true?

I know this is a pretty simplistic analysis, but some of the posters above obviously have a more technical knowledge of economics than I do.

The main thing is that the recession was NOT caused by a Big Money Republican President, so all Chrisitans need to vote for a Kind-Hearted Democratic President who would stop all recessions by ending the reign of the greedy big-money capitalists, and make sure that everyone in the country has a good job, a decent house, and enough food, as well as a free education, a free car or free transportation, free child care, free health care, etc. This is all ridiculous–I would call it propaganda and outright lies.

The way for all of these good things to happen to poor people is for regular people, decent Christian people (and decent non-Christian people), who make a decent income, to start giving out of their bounty to charities that they support, and volunteering in organizations that help people to help themselves. If everyone gives as much as they can and volunteers when and where they can, we would do a great deal to eliminate poverty, hunger, etc. in the U.S.A.
 
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CradleRC58 said:
Interesting ( imo )
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Well, remember, the national polls were correct in 2016. Some statewide polls were off a little. So, yeah.

Also, the idea that a poll can show who answers polls and who doesn’t is … strange.
 
RhodesianSon said:
The biggest problem with the 08 recession was the bailouts of the banks and the auto industry. If they’d been left to die things would have been better. Too big to fail shouldn’t be in our lexicon.
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I wonder if you’d feel the same way if you had a significant chunk of your retirement savings tied up in a bank or the stock market? In my case the stock market meltdown resulted in a 30% loss in my retirement income as I didn’t have enough time to recoup my losses.

And don’t berate me for “playing the stock market”. My money is in an RRSP in mutual funds managed by one of the most reputable and solid fund managers in Canada and my asset mix and risk exposure always followed my fund manager’s recommendations for my age group.

Fortunately our big banks weathered the storm not because of a bailout but because a Liberal government acted conservatively and refused to change regulations to allow banks to merge and engage in riskier behaviour.

Behind the financial failure of large corporations and banks are very real ruined and usually innocent individuals and families.

Think about your own family being ruined before you throw out such facile and poorly thought out remarks.
 
PaulinVA said:
Also, the idea that a poll can show who answers polls and who doesn’t is … strange.
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I know that in our city, those who support Pres. Trump are afraid to post signs, decorate their cars, or wear any clothing indicating that they support the President. We’re afraid of violence against us.

So even though we see houses that are decorated with Biden/Harris signs and all the other local and State Democratic candidates’ signs, I am assuming that all of the houses that have no decorations are for the President–and there are a lot more undecorated houses than decorated.

But of course, it doesn’t matter in Illinois. Cook and Champaign counties will carry Vice Pres. Biden to take the Electoral Vote in the Prairie State, even though most of the other counties will go for Pres. Trump. Oh, well–I still support the Electoral College rather than a Popular Vote. Illinois is just one State, and a foolish one.
 
OraLabora said:
I wonder if you’d feel the same way if you had a significant chunk of your retirement savings tied up in a bank or the stock market?
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2/3 of my liquid assets are invested in the stock market. I stand by my statement. Bailing out big companies encourages them to take risks they otherwise wouldn’t because they can count on tax dollars to save them. Companies that make bad decisions should be allowed to fail and their corpses cannibalized by their competitors for cheap assets.
 
Peeps said:
So even though we see houses that are decorated with Biden/Harris signs and all the other local and State Democratic candidates’ signs, I am assuming that all of the houses that have no decorations are for the President–and there are a lot more undecorated houses than decorated.
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I’m not sure that’s sound. How many people actually put up yard signs anyway? I’ve only seen a few.
Peeps said:
But of course, it doesn’t matter in Illinois. Cook and Champaign counties will carry Vice Pres. Biden to take the Electoral Vote in the Prairie State, even though most of the other counties will go for Pres. Trump. Oh, well–I still support the Electoral College rather than a Popular Vote. Illinois is just one State, and a foolish one.
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Here in Virginia it’s the same way. Northern Virginia is solid blue and overwhelms the rest of the (red) state. Republicans look like they’re winning statewide until Fairfax county reports results.
 
Not many people (well, let’s say pundits although I suppose they’re people too) think the ‘shy Trump voter’ phenomenon is relevant in 2020.
 
They’re probably the same people who dismissed (and continue to dismiss) all Trump voters as poorly educated, middle-aged white men.
 
I’m thinking of Jonah Goldberg primarily but others too. Did he dismiss all Trump voters as poorly educated, etc.? I honestly don’t know but he’s usually more thoughtful than that.
 
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There was plenty of blame to go around. One of the problems was the failure on the part of FNMA and FHLMC to actually quality control the mortgages they bought. Everybody knew they didn’t, and since the loans sold to them were “without recourse” the lenders didn’t care.

George W. Bush tried to get congress to reform FNMA and FHLMC, but that was defeated largely due to the resistance of Sen Schumer and then-Senator Obama.

So when mortgages started failing, nobody knew what securities were good and which ones were not. That froze interbank lending and caused a liquidity crisis.
 
I don’t have a list. I just don’t think Trump’s detractors respect him or his supporters, and that is a huge blind spot.
 
Jonah Goldberg is a never Trumper…wishful thinking on his part ,no doubt
 
Speaking only for myself, I do spend a fair amount of time trying to understand why his followers find him so appealing. But while I have lots of speculations, I never really arrive at any firm conclusions. I think he is good at manipulating people but that’s not a good reason for respecting someone, in my opinion.
 
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