Quote:The biggest fault of Obama up to this point has been Obamacare and the utter catastrophe it's been. The fact that I'm paying so much more now for health care than I was in 2013, and each year it continues to rise. Not only am I unhappy with it, but many of the people that couldn't afford healthcare in the past are unhappy with it as well. A bad system only got worse.
Actually, helping make the banks bigger than before while holding no one accountable may end up being his biggest failure. That and Feds secretly giving banks trillions of more dollars when we were led to believe it to be $770 million. Banks became to big too fail, did illegal things, weren't held accountable and now are bigger than they were before and know that if they screw up again the government will be there to bail them out, make them richer and no one will go to jail. It's one of the worst frauds in American history and it is costing us trillions. We literally learned nothing from the Great Recession and have almost insured it will repeat itself.
Quote:We live in a global World. Apologies for not being American and having an opinion.
Sad you Trump cultists cant even converse politely.
Politics and religion, my friend.
Re the article, "Downtown" Josh Brown is one of the few pundits on my favorites tab and for whom I'll actually turn the volume up and listen to on cnbc. That said, (corr vs caus not withstanding) another way to look at it is that reality sets in and over-inflated mkts correct during a unified republican govt.
Regardless of which party is in power, there's a ton of $$ to be made when bubbles burst(RE, stk, bond, commod, currency, PMs...) and then again when the masses are in statement shock and too scared to buy.
Selfishly speaking, the added bonus to the party in power and one of the reasons I voted for him over her, is that after a win, I have the opportunity to keep a higher % of my investment and risk capital gains.
Quote:Why did you omit November 2-8, 2016 in your detailed analysis?
I am guessing the "easy to get" mortgages you are referring to are adjustable rate mortgages, in which people could pay less money down not knowing their payments a couple years later would skyrocket to unaffordable levels. People were forced out of their homes when this happened. The housing market was actually booming for a while, but many of the same people being talked into signing ARMs to buy homes were also losing their jobs.
Two names that often came up in the news were Fannie Mae and Freddie Mac. I had never heard of those agencies before the housing crisis began, but understood this much: they were largely at fault for the real estate crap going on.
I never read or heard the term subprime loan, but that part of your analysis reminds me of when money borrowing companies sprouted all over central Ohio to help people who can't live paycheck to paycheck. Mom explained it this way: you need money on Tuesday and can't wait until payday on Friday, so you go to one of those little businesses, but in the end you pay more than you get. Is that what you are calling a subprime loan?:
November 2-8, 2016 is really of no concern. I simply used November 1 much like I could have used October 31. I was only pointing out time frames not specific dates.
The "easy to get" mortgages do include ARM's, but also other mortgages such as 0 or little money down type of mortgages as well as what was commonly referred to as a
NINJA loan (No Income No Job No Assets). These are also referred to as "subprime loans". These are just a few examples, there are other examples out there.
Every time anything happens, the political class and the talking heads want to assign blame or credit.
Well sometimes there's no one to blame and no to give credit to. Things just happen. Hurricanes happen, earthquakes happen, and financial crashes happen. They just happen. No one is to blame.
Quote:Every time anything happens, the political class and the talking heads want to assign blame or credit.
Well sometimes there's no one to blame and no to give credit to. Things just happen. Hurricanes happen, earthquakes happen, and financial crashes happen. They just happen. No one is to blame.
All human actions can get blame or credit to at least one person. We just can't always figure out who to blame or credit because of the situation's complexity. Of course nobody can be blamed for natural disasters.