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Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Say goodbye to the good life


@gough whitlam wrote:

You have obviously overdosed on the christmas festivities.  I don't know if it is the chip on your shoulder or the heart on your sleeve but either way there is a cerebral ballast. Your country has never and it never likely to experience anything that remotely resembles any type of socialist/communist system. And I have said that a hundred times and to this point I am right.  What you have said a hundred times is yet to have any credence or evidence to show it is happening.

 

Actually, the United States is following exactly in the footsteps of the rise of the National Socialist Workers Party of Germany (1930's)  Central Government and Corporations are now locked together.  The next step is to condition the cattle that the catch pen is the best place to be.  This is now happening.  The "school shooting" is the modern version of the Reichstag burning.

 

I know the election defeat must have been a mighty blow to you and the GOP but you have no one else to blame but yourselves.  The campaign you run with a candidate who was reluctant to run was on the back foot from the outset.  Everything you spruiked and chortled about on here prooved to be totally fruitless and you were told that too. I think you are too close to the workings of the GOP to see the problems that exist.  It is blindingly obvious from where I stand.

 

The RINOs picked Romney.  Paul Ryan would have made a better pick by a factor of 100 or more.  The elections of 2014 should work out better for us.  The districts are gerrymandered well enough to keep our folks safe and the rest are weak enough for the democrats to boost our standings in the next election cycle.  If the country isn't in a condition of martial law by then.  Actually, I see things as being destroyed by then and the elections will not matter much.

 

But your continual raving about the Marxist threat has the solidity of pure wind.  You tried that prior to the election and the voters told you what they thought of it, i.e. more of the same please. It is impossible to fight against Baracka Claus' efforts to buy voters' support  To this point all the hyperventilating you have exhibited is typical of the right wing extremist politics which flourishes in the US when a dem government is in power and apart from all that, I would bet you have never received any benefits for being a galvanised repig.  All the nice farm subsidies, cheap crop insurance etc, come from that terrible socialist system. It makes no sense for you to rail against that with such bitterness.

 

I receive no farm payments, no subsidies, and No cheap crop insurance from any government.   Why would I want to pick my neighbour's pockets to run our farm?



I will try very hard to find time this week, with school being out, to take that book and map to a professional shipping place and have it sent down to New South Wales.  The book shows what Iowa looks like now and will be good to remember it as it was and not like it is going to look like in the future.   Enjoy your Summer weather.  It is down to minus 16 Celsius right now, here.

GreaTOne_65
Senior Contributor

Re: Say goodbye to the good life

Oh, come on, Craigo, your credibility has been shot to he!l, we all know now you don't know squat. Here's the your party's biggest problem, same as your's, crazy on all counts.

http://www.alternet.org/even-mainstream-pundits-are-now-saying-republicans-no-longer-normal-governin...

 

 

GreaTOne_65
Senior Contributor

Re: Say goodbye to the good life

My god, Craigo, you are so full of sh!t, how can you stand the smell. Your an idiot!

bruce MN
Advisor

Re: Say goodbye to the good life

Nah...he hangs around with this guy from Kansas City.

 

http://www.huffingtonpost.com/william-k-black/obama-should-listen-to-obama_b_2366111.html

gough whitlam
Senior Contributor

Re: Say goodbye to the good life

I still think you are over reacting a tad but so be it.

 

I am still looking forward to the gifts.  It is ironic how you tell the temperature there when next week we are looking at about 40c for a few days.  We have had plenty of 35 c plus in the last 3 weeks.  Christmas day was about 22 and a few stormy showers with a cool SW change at dark .  A very pleasant day indeed.  How you enjoyed it.

r3020
Senior Advisor

Re: Say goodbye to the good life


@bruce MN wrote:

Nah...he hangs around with this guy from Kansas City.

 

http://www.huffingtonpost.com/william-k-black/obama-should-listen-to-obama_b_2366111.html


The Obama voters don't care about the fiscal cliff as long as they pick up their Obama phone and still have minutes on it. If the minutes run out the dems are toast.

Samnospam
Advisor

Re: Say goodbye to the good life

You post allot of mmt stuff Bruce, do you really believe in that magic fairy dust?
bruce MN
Advisor

Re: Say goodbye to the good life

What kind of a question is that?

 

What I don't beleive in in the "cross of gold", Chicago/Freidman, Greenspan stuff.  I'm curious about and at times intriqued by the views of reasoned contrarians to it.

 

Call it what you will, but it's not constructive or intellectually honest to include a presumed definition in a broad question.

bruce MN
Advisor

P.S. Sam...got one for you right here

One of those "contrarians"...a dyed in the wool conservative,...he actually worked on the Congressional staffs of 2 of the most notable libertarians to serve at a high federal level...Ron Paul and Jack Kemp.....

 

http://economix.blogs.nytimes.com/2012/12/25/a-conservative-case-for-the-welfare-state/

 

And no idea if you'd peg him as a "mmt'er" or not.  I've never seen him say.

 

Bartlett was on Moyers show a couple of weeks ago with Yves Smith...worth watching just to see them talk about our "well to the right of Ike and Nixon" President.

 

 

r3020
Senior Advisor

Re: P.S. Sam...got one for you right here


@bruce MN wrote:

One of those "contrarians"...a dyed in the wool conservative,...he actually worked on the Congressional staffs of 2 of the most notable libertarians to serve at a high federal level...Ron Paul and Jack Kemp.....

 

http://economix.blogs.nytimes.com/2012/12/25/a-conservative-case-for-the-welfare-state/

 

And no idea if you'd peg him as a "mmt'er" or not.  I've never seen him say.

 

Bartlett was on Moyers show a couple of weeks ago with Yves Smith...worth watching just to see them talk about our "well to the right of Ike and Nixon" President.

 

 


The housing bubble is the result of the welfare state. Yet the libs continue to make the case for more welfare. Well, lets check the results.

snip-

Democrats and the media insist the Community Reinvestment Act, the  anti-redlining law beefed up by President Clinton, had nothing to do with the  subprime mortgage crisis and recession.

But a new study by the respected National Bureau of Economic Research finds,  "Yes, it did. We find that adherence to that act led to riskier lending by  banks."

Added NBER: "There is a clear pattern of increased defaults for loans made by  these banks in quarters around the (CRA) exam. Moreover, the effects are larger  for loans made within CRA tracts," or predominantly low-income and minority  areas.

To satisfy CRA examiners, "flexible" lending by large banks rose an average  5% and those loans defaulted about 15% more often, the 43-page study found.

The strongest link between CRA lending and defaults took place in the runup  to the crisis — 2004 to 2006 — when banks rapidly sold CRA mortgages for  securitization by Fannie Mae and Freddie Mac and Wall Street.

CRA regulations are at the core of Fannie's and Freddie's so-called  affordable housing mission. In the early 1990s, a Democrat Congress gave HUD the  authority to set and enforce (through fines) CRA-grade loan quotas at Fannie and  Freddie.

It passed a law requiring the government-backed agencies to "assist insured  depository institutions to meet their obligations under the (CRA)." The goal was  to help banks meet lending quotas by buying their CRA loans.

But they had to loosen underwriting standards to do it. And that's what they  did.

"We want your CRA loans because they help us meet our housing goals," Fannie  Vice Chair Jamie Gorelick beseeched lenders gathered at a banking conference in  2000, just after HUD hiked the mortgage giant's affordable housing quotas to 50%  and pressed it to buy more CRA-eligible loans to help meet those new targets.  "We will buy them from your portfolios or package them into securities."

She described "CRA-friendly products" as mortgages with less than "3% down"  and "flexible underwriting."

From 2001-2007, Fannie and Freddie bought roughly half of all CRA home loans,  most carrying subprime features.

 

snip-

While the 1977 law was passed 30 years before the crisis, it underwent a  major overhaul just 10 years earlier. Starting in 1995, banks were measured on  their use of innovative and flexible" lending standards, which included reduced  down payments and credit requirements.

Banks that didn't meet Clinton's tough new numerical lending targets were  denied merger plans, among other penalties. CRA shakedown groups like Acorn held  hostage the merger plans of banks like Citibank and Washington Mutual until they  pledged more loans to credit-poor minorities (see chart).

Read More At IBD:  http://news.investors.com/ibd-editorials-perspective/122012-637924-faults-community-reinvestment-act...