Where is the US economy headed?

@hawkeye10,

Quote:

That is debatable, what is not is that they have an idea and a plan, where-as the Dems have none.

Now let me see if I understand you correctly.

I made a statement about facts and you bring this into the equation as if it is a fact?

1 Reply

@reasoning logic,

Quote:

bring this into the equation as if it is a fact?

It is fact, it is human nature. The fact is that the DEMS will loose the argument, because they dont understand people, they dont know where America is. They keep on being surprised by the RIGHT, and that the right keeps having success with what they believe is lunacy. They just did it again with Perry, believing that he is a nut who will never get anywhere, and yet here we are, he right away jumps to the front. Perry has a gift for knowing where the people are, and so just about every word that comes out of his mouth should scare the **** out of the DEMS, as it goes to show that they dont have a clue.

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@hawkeye10,

hawk, It doesn't matter what the dems say; the GOP is out to destroy Obama. Haven't you been keeping up with the news?

However, it's also true that Obama is doing a yeoman's job of destroying himself by being so wishy-washy, and having no back bone.

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@hawkeye10,

You seem to be speaking about the religious community's view of America and you may be correct but in time I do hope that they keep evolving as they have been but only sooner!

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@cicerone imposter,

Quote:

destroying himself by being so wishy-washy, and having no back bone.

1) few ideas

2) the ideas that he does have generally turn out to be bad ideas

3) he does not know where the american people are

4) he is a poor negotiator

5) he does not understand power, or at least he will not often lower himself to practicing power, which makes him useless even if he did come up with a clue.

I can well understand the RIGHT deciding that now is the time to put a full scale conservative against Obama, that now has finally arrived the time where they can drive a stake through liberalism and big government. As an opponent Obama is about as weak as they come. He is a classic failed President , whom the american people have lost faith in, this should be Reagan v Carter all over again.

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@hawkeye10,

I wold prefer no plan over a bad plan any day even though it may seem illogical!
Call me crazy or any thing you wish as long as I am not supporting psychopathic ideology!

It will all work out in the end and it will never be the way I hope as long as I am a live.
Evolution is slow and I do not have time to wait!

1 Reply

@reasoning logic,

Quote:

I wold prefer no plan over a bad plan any day even though it may seem illogical!
Call me crazy or any thing you wish as long as I am not supporting psychopathic ideology

You have also well demonstrated over time that you are weird.

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@hawkeye10,

Quote:

You have also well demonstrated over time that you are weird.

Does weird mean something different than disagreeing with one's ideology?

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@reasoning logic,

My only problem with this clip is the fact that I know many more non-religious Conservatives then I do religious ones. So his point about the religious right only applies to a certain group in the Conservative movement. I am not a Christian and have never considered myself a Christian, so none of my political beliefs are steeped in religion. Painting with a broad brush is never a good thing.

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Holy ****...In just over a week Bank of America has

1) ponied up and paid big for $5 Billion from Buffet

2) sold half of a chinese operation for $8.2 billion

3) announced that it is kicking to the curb 3500 people almost immediately in the effort to save cash.

4) announced that it is selling its correspondent mortgage business (which will off load another 1000 of the head count)

So much for the claims from the bank that the critics are wrong about how bad their balance sheet is....

1 Reply

@hawkeye10,

Hawkeye had you ever been a retail customer of BOA?

They are the worst bank to deal with that I had ever run into.

Even with a "special' VIP number that my wife got out of them their service is poor and taking care of even minor problem is similar to climbing at least a small mountain.

Their online banking website is way to complex and trying to figure out how to do even a simple task is not fun.

Oh they do such charming things as charging to move funds online from their system to another bank but they do allow you to place funds into them for free.

1 Reply

@BillRM,

Quote:

Hawkeye had you ever been a retail customer of BOA?

N

Quote:

They are the worst bank to deal with that I had ever run into.

I dont think that they do any better with the big deals either, they bought CountryWide for $4 billion which on the books now is worth $0 and actually was worth some negative number, and they paid $50 billion for Merrill Lynch but I was just reading a few days ago a guy saying that a few days after that they probably could have gotten it for free. The big problems with B of A are

1) no one knows what the true value of their assets are, only that it is not what B of A says it is (it is lower)...Estimates are that they need to raise up to $200 billion more to stay solvent ( they got $13.3 billion of that last week)

2) they are still trying to get free of the mortgage fraud legal problems/write downs, and no one knows how much unwinding that is going to cost.

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@hawkeye10,

I'm just happy that they did my remortification in short order once they got me the paper work. I will say it took them 6 months to get me the paper work, but now my home is safe and sound.

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@Baldimo,

From the NYT.

Quote:

U.S. Is Set to Sue a Dozen Big Banks Over Mortgages
By NELSON D. SCHWARTZ
Published: September 1, 2011

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.

A foreclosed home in Arizona. The Federal Housing Finance Agency suits will argue that banks failed to perform due diligence and missed evidence that borrowers’ incomes were inflated or falsified.

The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.

The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims.

The banks must stop playing shenanigans with the American public.

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@cicerone imposter,

B of A is getting slammed today, down 8%+, because of concern about liability and the lack of strength of their balance sheet.

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@cicerone imposter,

One of the prime drivers of our capitalist system is the shenanigans the banks have traditionally played at. As they are too smart for legislators I suppose they will continue.

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@hawkeye10,

The WSJ reports that there is pressure on BoA, which owns Merrill Lynch, to sell some kind of stock that would be tied to that profitable division of the company. They can't spin off ML but this novel plan could attract investors who don't want to invest in the rest of BoA.

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@spendius,

spendius wrote:

One of the prime drivers of our capitalist system is the shenanigans the banks have traditionally played at. As they are too smart for legislators I suppose they will continue.

That self-interested economic actors of every stripe, ranging from laborers and their unions to international bankers are more motivated, focused, and energetic and generally smarter at their trades than regulators is a very reliable general proposition. This is a good reason to abandon the fatuous hope that perfection can be achieved through enlightened regulation by an intrusive governmnent.

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@spendius,

Crooks do not want regulations. Today's feudal system is based on corporations. Those who run corporations are the new barons. The land based barons are obsolete.

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@georgeob1,

And similarly for any enlightened ideas promoted by various busy-bodies.

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Where is the US economy headed?

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