STATE TAX aircraft

[fantom]

Quote: JimR

[fantom]

[Parker_Woodruff]

Quote: fantom

Is it no wonder Congress can't meet in the middle somewhere!

[fantom]

Quote: Parker_Woodruff

Compromising is what got us into this mess.

 

[N1026F]

I think one of the problems is that people are uninformed about how the banking system works. It's admittedly a a dry and somewhat complicated subject. So they don't bother to learn about it from "soup to nuts".

One of the other problems is that it seems to be human nature to come up with a narrative that suits your ideals and then seek out opinion and or cherry pick information to support it.

 

[jetdriven]

Quote: Parker_Woodruff

Compromising is what got us into this mess.

When you  compromise, you spend too much money.  Whaddoya know... 14.X Trillion in nat'l debt.

[N1026F]

Quote: Parker_Woodruff

Compromising is what got us into this mess.

When you  compromise, you spend too much money.  Whaddoya know... 14.X Trillion in nat'l debt.

[Parker_Woodruff]

Quote: N1026F

...no more Kool Aid for you two!  14T doesn't "just happen" in 900 days, it takes a large carry over from two wars and a huge revenue cut in the form of tax breaks and a couple rounds of corporate bailouts.

[Parker_Woodruff]

It really is possible to dislike the current administration and still have many complaints with the Bush years.

[fantom]

Quote: Parker_Woodruff

It really is possible to dislike the current administration and still have many complaints with the Bush years.

[N1026F]

Quote: fantom

True, especially the last two, when Republicans lost their way and starting acting like Democrats burning taxpayer futures for "stuff we need". The voting public woke them up, and there's another alarm clock coming next year.

God save us from out of touch politicians and verbose type "A" lawyers.

[jetdriven]

The "New deal" was all to help the "forgotten man". Perhaps we have forgotten about the forgotten man.  I wasnt arround then but the economy was in the ditch and no way was it moving.  Keynsian economists believe that it stays i the ditch until something stimulates it to move. It was universally agreed to be a great thing until the last year or two.  Now we have working class people siding with the wealthy ruling class, against rules that protect the working class. It reminds me of slaves taking up arms against the North during the Civil War.   Still waiting on those bread crumbs?

Here is where it "went south":

Edited: from here

Tennessee Valley Authority (TVA), 1933: effort to modernize very poor region (most of Tennessee), centered on dams that generated electricity on the Tennessee River; still exists

Federal Deposit Insurance Corporation (FDIC) insures bank deposits and supervises state banks; still exists

Glass–Steagall Act regulates investment banking; repealed 1999

Securities Act of 1933, created the SEC, 1933: codified standards for sale and purchase of stock, required awareness of investments to be accurately disclosed; still exists

Social Security Act (SSA), 1935: provided financial assistance to: elderly, handicapped, paid for by employee and employer payroll contributions; required 7 years contributions, so first payouts were in 1942; still exists

National Labor Relations Act (NLRA) / Wagner Act, 1935: set up National Labor Relations Board to supervise labor-management relations; In the 1930s, it strongly favored labor unions. Modified by the Taft-Hartley Act (1947); still exists

Federal Crop Insurance Corporation (FCIC), 1938: Insures crops and livestock against loss of production or revenue. Was restructured during the creation of the Risk Management Agency in 1996 but continues to exist.

Fair Labor Standards Act 1938: established a maximum normal work week of 44 hours and a minimum wage of 40 cents/hour and outlawed most forms of child labor; still exists, hours have been lowered to 40 hours over the years.

Rural Electrification Administration, (REA)one of the federal executive departments of the United States government charged with providing public utilities (electricity, telephone, water, sewer) to rural areas in the U.S. via public-private partnerships. still exists.

Im not saying these programs are perfect or free from corruption or waste.  I am of the mindset we are better with them than without them. But I have been labeled as 'sick" so you may see ths differently depending on whether you make <100K a year or currently unemployed.  In this country, you are only as good as your last envelope.

Maybe the new thinkers got it right.   Perhaps we should abolish all these programs. GE is tired of paying for them. Their taxes are too high and they cannot create jobs.

Quote: Parker_Woodruff

I actually am looking back past Bush, past Clinton....all the way to about 1913.

Of course the "New Deal" is where things really went south.

[N1026F]

Parker was around back then, Jetdriven. Tell him Parker. Tell him how the horseless carriage ruined man's relationship with the horse and it was all down hill from there... I got your back, go ahead.

[jetdriven]

Interesting offshoot, from the offshoot.  You know up until the 1930s most every american city had streetcars. Look at old city photos.   GM and others bought up over 1000 streetcar lines and converted them to (GM) buses.  Later, many of these lines were abandoned when no longer profitable, which resulted in no public transportation options where there one were.    Capitalism unbridled.  They have "A right to make a profit" regardless who suffers. Which is where regulation for the public good comes in.

http://en.wikipedia.org/wiki/Great_American_streetcar_scandal

[jetdriven]

Ross, I am a devoted worshipper of yuor posts regarding aircraft but can you post a link where lenders were required to fill a quota of low income loans and such for the government?   All I can find is that the government was willing to buy these crappy loans but Wells Fargo did not have to originate them. I cannot find where they were required to.

Can you explain Countrywide? They started up it seems specifically to originate predatory loans.  No mention of the government in this article, but an 8B settlement for predatory lending.  

http://www.econ.la/special_coverage/article_sc/2008_1006_countrywide_settled.html

http://motherjones.com/mojo/2011/09/countrywide-subprime-mortgage-whistleblower

http://motherjones.com/politics/2008/03/subprime-lendings-smartest-guys-room

some more reading.  Lots of greed, not so much in federal orders to issue bad loans.

http://en.wikipedia.org/wiki/Government_policies_and_the_subprime_mortgage_crisis

Also, have you read "The Big Short"?

Quote: Shadrach

There is a lot more to the story that the CRA Act (passed in 1977, stregthened under Clinton, weakened under Bush during which much of the housing bubble occured).  A quick google search shows that 50% of subprime loans were offered by banks that weren't even covered by the CRA or regulated by it in any way.  The other 50% may have been banks that were regulated by CRA, but might not have been in neighbhorhoods covered by CRA, the statistics weren't as clear there.  But overall economic thought is it seems the CRA had little to do with the subprime mess - but you can make up your own mind, there's only a few million references when you google "CRA subprime mortgage" and you skip the punditry stories and just read the published articles from universities and those from leading financial reporting sources.  Also, consider the current litigation against Bank of America, Countrywide, Washington Mutual and Wells Fargo that have a great deal of evidence that minorities were steered to subprime loans that white people with the same financial standings had access to regular loans for.   I am trying to really really ignore Fantom's comment  "And we all know who were getting those handouts loans..." what he is trying to imply here, and I am going to assume that any implicit racism in this statement is unintentional.  The whole melt down was a series of really bad choices, not just by people that chose to take bad loans (or were enticed to as the only solution for housing in growingly unaffordable markets), but by the ratings agencies and banks who packed bad loans together in CDOs, called them "good" once they got combined together, and then sold them to other banks who were left out in the cold and needing a bailout.

[N1026F]

Quote: jetdriven

Interesting offshoot, from the offshoot.  You know up until the 1930s most every american city had streetcars. Look at old city photos.   GM and others bought up over 1000 streetcar lines and converted them to (GM) buses.  Later, many of these lines were abandoned when no longer profitable, which resulted in no public transportation options where there one were.    Capitalism unbridled.  They have "A right to make a profit" regardless who suffers. Which is where regulation for the public good comes in.

http://en.wikipedia.org/wiki/Great_American_streetcar_scandal

[Parker_Woodruff]

Quote: N1026F

Parker was around back then, Jetdriven. Tell him Parker. Tell him how the horseless carriage ruined man's relationship with the horse and it was all down hill from there... I got your back, go ahead.

[Parker_Woodruff]

Quote: jetdriven

[N1026F]

Quote: Parker_Woodruff

 

[Parker_Woodruff]

Quote: N1026F

Uh, oh. My CPA and board certified estate planning attorney have advised me of the following:

1. No

2. Our American System has used Keynesian economics since Jamestown and the tobacco economy--to do otherwise is unpatriotic and unAmerican;

3. You can't afford to stay in your political party of choice. Sorry;

4. The concept of "equal" IS Marxist. What the American Democratic experiment is about is...balance;

Balance requires not putting the entire weight on one side (change wing tanks on a set interval);

Therefore: "Compromise" is NOT bad thing. But...

Radically Pragmatic Moderation is the only solution right now--we have no room for Marxist ideology that can't pay for what it drains from the economy.

 

[N1026F]

Quote: Parker_Woodruff

You talk circles around me.  I'm gonna have to plead the 5th.

[Parker_Woodruff]

Quote: N1026F

 "this is the no spin zone..." The first two examples come from "alleged" criminals most often, the the third came from...

[jetdriven]

I think you have a point there!  I would also add that many lies on cable "news" are either immediately preceeded or followed with "we just don't know".

 

[N1026F]

Quote: Parker_Woodruff

hmm.  Maybe I'm an anomoly.  I am conservative and I don't like Bill O'Reilly.

[MARZ]

Quote: jetdriven

Whatever happened to good old fashionaed accountability.  You get drunk. You fly into a chuirch full of nuns and baby seals.  You cannot be sued for damages because of corporate trickery, yet I can.  The fundamental problem with a corporation is it has no body to imprison and no life to take if it does wrong.