Are we heading into Subprime Mortgage Crisis 2.0?

Government hiding foreclosures. Over 1,000,000 loans in default.

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Anonymous wrote:We are winning. BIGLY. Going to the cliff at full speed. My theory is that the current admin wants to alienate every ally, crash economy, then global economy, remove dollar reserve status, and default on US debt. Wipe it clean, and start from scratch and then enter the age of prosperity. Maybe extreme way to do it, but my brain is too small to think why would you rush to recession/depression. I pray global war is not in the program.

That plan doesn't end in prosperity for the US or its citizens. However, it will be a bigly windfall for the oligarchs.

Explain it to me ike I am 5 how this plan ends up putting the USA in a good place.

I do think that when things turn from theoretical ("we're going to have to tighten our belts!" "short term pain!" "temporary retraction!") to real, some people will wake up. (notice that i said "some.")

It's one thing to think that there will be some temporary pain (which many will think will mostly affect other people-- not them!). it's another to lose your job and be unable to find another one. plus high inflation. plus maybe your retirement account is crashing. people can only be told to "hold on, it's just temporary" for so long. and then they might be questioning what's really on the other side of this "temporary" pain.

+1 short term pain could mean people losing their businesses and houses. It’s like people forgot 2008.

And what happened since 2009? The stock market and housing prices went up and the unemployment rate has dropped since.

MAGA is now advocating for recession and people losing their livelihoods and homes.

Markets go up, markets go down. It's a natural cycle.

The last three Republican Presidents have presided over markets going down, and the last three Democratic Presidents have presided over markets going up. 🤔

Well that's a lie, the market only went down under G.W. Bush. External events heavily influence the economy more then Presidents do.

So Republican policy didn't influence those external events? Just a coincidence markets have fallen during the last GOP presidencies?

Again, it only fell under GW Bush. How did Bush's policies cause the dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11?

Somehow, Bush, Bush and trump managed the economies into recessions and left messes for Clinton, Obama and Biden to fix. Maybe the democrats know how to govern and the GOP doesn't? Its really easy to break things. When was the last time the GOP fixed anything or actually passed legislation that helped the average American?

Did Clinton's policies leave a mess for Bush? (dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11)
Did Bush's policies leave a mess for Obama? (2008 crash)
Or were they both influenced by outside factors?

Clinton left a budget surplus and healthy economy.

What caused the 2008 crash? Weaker regulatory functions at the banks, which the GOP pushed. The Bush tax cuts also didn't help because that along with the low interest rates, left little room for the Fed to act.

Ahh, yes, the Bush tax cuts. I believe they made movies like The Big Short and Margin Call about that.

I guess you are forgetting the looser SEC laws Bush enacted?

You mean like under Clinton with the repeal of Glass-Stegall, or promoting subprime lending, or the deregulation of derivatives that exempted credit default swaps from federal oversight?

Glass-Steagall passed with a veto-proof majority so Clinton had very little to do with it.

^^^ Whoops meant the bill that overturned Glass-Steagall.

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Anonymous wrote:We are winning. BIGLY. Going to the cliff at full speed. My theory is that the current admin wants to alienate every ally, crash economy, then global economy, remove dollar reserve status, and default on US debt. Wipe it clean, and start from scratch and then enter the age of prosperity. Maybe extreme way to do it, but my brain is too small to think why would you rush to recession/depression. I pray global war is not in the program.

That plan doesn't end in prosperity for the US or its citizens. However, it will be a bigly windfall for the oligarchs.

Explain it to me ike I am 5 how this plan ends up putting the USA in a good place.

I do think that when things turn from theoretical ("we're going to have to tighten our belts!" "short term pain!" "temporary retraction!") to real, some people will wake up. (notice that i said "some.")

It's one thing to think that there will be some temporary pain (which many will think will mostly affect other people-- not them!). it's another to lose your job and be unable to find another one. plus high inflation. plus maybe your retirement account is crashing. people can only be told to "hold on, it's just temporary" for so long. and then they might be questioning what's really on the other side of this "temporary" pain.

+1 short term pain could mean people losing their businesses and houses. It’s like people forgot 2008.

And what happened since 2009? The stock market and housing prices went up and the unemployment rate has dropped since.

MAGA is now advocating for recession and people losing their livelihoods and homes.

Markets go up, markets go down. It's a natural cycle.

The last three Republican Presidents have presided over markets going down, and the last three Democratic Presidents have presided over markets going up. 🤔

Well that's a lie, the market only went down under G.W. Bush. External events heavily influence the economy more then Presidents do.

So Republican policy didn't influence those external events? Just a coincidence markets have fallen during the last GOP presidencies?

Again, it only fell under GW Bush. How did Bush's policies cause the dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11?

Somehow, Bush, Bush and trump managed the economies into recessions and left messes for Clinton, Obama and Biden to fix. Maybe the democrats know how to govern and the GOP doesn't? Its really easy to break things. When was the last time the GOP fixed anything or actually passed legislation that helped the average American?

Did Clinton's policies leave a mess for Bush? (dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11)
Did Bush's policies leave a mess for Obama? (2008 crash)
Or were they both influenced by outside factors?

Clinton left a budget surplus and healthy economy.

What caused the 2008 crash? Weaker regulatory functions at the banks, which the GOP pushed. The Bush tax cuts also didn't help because that along with the low interest rates, left little room for the Fed to act.

Ahh, yes, the Bush tax cuts. I believe they made movies like The Big Short and Margin Call about that.

I guess you are forgetting the looser SEC laws Bush enacted?

You mean like under Clinton with the repeal of Glass-Stegall, or promoting subprime lending, or the deregulation of derivatives that exempted credit default swaps from federal oversight?

Glass-Steagall passed with a veto-proof majority so Clinton had very little to do with it.

Anonymous wrote:

Anonymous wrote:Any man who declared multiple bankruptcies, especially whose casino goes bankrupt, should not be trusted to be in charge of the US economy.

Multiple casinos went bankrupt, as well as the public company that ran them.

And the many contractors that he never paid.

Dude is a cancer on society.

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Anonymous wrote:We are winning. BIGLY. Going to the cliff at full speed. My theory is that the current admin wants to alienate every ally, crash economy, then global economy, remove dollar reserve status, and default on US debt. Wipe it clean, and start from scratch and then enter the age of prosperity. Maybe extreme way to do it, but my brain is too small to think why would you rush to recession/depression. I pray global war is not in the program.

That plan doesn't end in prosperity for the US or its citizens. However, it will be a bigly windfall for the oligarchs.

Explain it to me ike I am 5 how this plan ends up putting the USA in a good place.

I do think that when things turn from theoretical ("we're going to have to tighten our belts!" "short term pain!" "temporary retraction!") to real, some people will wake up. (notice that i said "some.")

It's one thing to think that there will be some temporary pain (which many will think will mostly affect other people-- not them!). it's another to lose your job and be unable to find another one. plus high inflation. plus maybe your retirement account is crashing. people can only be told to "hold on, it's just temporary" for so long. and then they might be questioning what's really on the other side of this "temporary" pain.

+1 short term pain could mean people losing their businesses and houses. It’s like people forgot 2008.

And what happened since 2009? The stock market and housing prices went up and the unemployment rate has dropped since.

MAGA is now advocating for recession and people losing their livelihoods and homes.

Markets go up, markets go down. It's a natural cycle.

The last three Republican Presidents have presided over markets going down, and the last three Democratic Presidents have presided over markets going up. 🤔

Well that's a lie, the market only went down under G.W. Bush. External events heavily influence the economy more then Presidents do.

So Republican policy didn't influence those external events? Just a coincidence markets have fallen during the last GOP presidencies?

Again, it only fell under GW Bush. How did Bush's policies cause the dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11?

Somehow, Bush, Bush and trump managed the economies into recessions and left messes for Clinton, Obama and Biden to fix. Maybe the democrats know how to govern and the GOP doesn't? Its really easy to break things. When was the last time the GOP fixed anything or actually passed legislation that helped the average American?

Did Clinton's policies leave a mess for Bush? (dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11)
Did Bush's policies leave a mess for Obama? (2008 crash)
Or were they both influenced by outside factors?

Clinton left a budget surplus and healthy economy.

What caused the 2008 crash? Weaker regulatory functions at the banks, which the GOP pushed. The Bush tax cuts also didn't help because that along with the low interest rates, left little room for the Fed to act.

Ahh, yes, the Bush tax cuts. I believe they made movies like The Big Short and Margin Call about that.

I guess you are forgetting the looser SEC laws Bush enacted?

You mean like under Clinton with the repeal of Glass-Stegall, or promoting subprime lending, or the deregulation of derivatives that exempted credit default swaps from federal oversight?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Any man who declared multiple bankruptcies, especially whose casino goes bankrupt, should not be trusted to be in charge of the US economy.

He's in charge of the economy as much as someone riding an elephant. You can suggest where it goes, but you're not in charge.

He’s running a pump and dump scheme. He’s driving this car. Normal presidents don’t have that kind of control because they’re not running a con.

A con, like Biden was sharp as a tack?

I will take Biden's economy and ethics over Trump's 100 times out of 100.

This. My bank account and 401k preferred Biden.

Yep. My 401k is becoming 301k under Trump.

Anonymous wrote:Any man who declared multiple bankruptcies, especially whose casino goes bankrupt, should not be trusted to be in charge of the US economy.

Multiple casinos went bankrupt, as well as the public company that ran them.

Anonymous wrote:This might be the first time I saw the NY Times reference the strong Biden economy. Not once in the last three years nor during the Harris campaign...

https://bsky.app/profile/nytimes.com/post/3ljslrlbkcc2q

President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Just weeks into his term, economic forecasts have deteriorated, reflecting the upheaval from federal layoffs, tariff moves and immigration roundups.

But hey, NYT wanted the clicks and subscriptions of a must-see Trump presidency so surely this sacrifice of our economy and nation is worth it.

This might be the first time I saw the NY Times reference the strong Biden economy. Not once in the last three years nor during the Harris campaign...

https://bsky.app/profile/nytimes.com/post/3ljslrlbkcc2q

President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Just weeks into his term, economic forecasts have deteriorated, reflecting the upheaval from federal layoffs, tariff moves and immigration roundups.

Trump’s back and forth on tariffs and offering exemptions for groveling and bribes is the worst possible policy. Manufacturing and other supply chains need predictability more than anything else. No one is going to build a new factory or make any other large capital investment in the U.S. to replace tariffed goods from Canada or Mexico or China if the tariffs aren’t expected to be fixed over the long-term, but also no one is going to invest in making finished products in the U.S. that rely on components from the tariffed countries because the only sure thing is that Trump’s policies will always be unpredictable because they are for sale.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Any man who declared multiple bankruptcies, especially whose casino goes bankrupt, should not be trusted to be in charge of the US economy.

He's in charge of the economy as much as someone riding an elephant. You can suggest where it goes, but you're not in charge.

He’s running a pump and dump scheme. He’s driving this car. Normal presidents don’t have that kind of control because they’re not running a con.

A con, like Biden was sharp as a tack?

I will take Biden's economy and ethics over Trump's 100 times out of 100.

This. My bank account and 401k preferred Biden.

Anonymous wrote:The markets really don't like today's job numbers.

And just wait till the credit card numbers come out on consumer spending. BOA already ringing the alarm.

The markets really don't like today's job numbers.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Any man who declared multiple bankruptcies, especially whose casino goes bankrupt, should not be trusted to be in charge of the US economy.

He's in charge of the economy as much as someone riding an elephant. You can suggest where it goes, but you're not in charge.

He’s running a pump and dump scheme. He’s driving this car. Normal presidents don’t have that kind of control because they’re not running a con.

A con, like Biden was sharp as a tack?

I will take Biden's economy and ethics over Trump's 100 times out of 100.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are winning. BIGLY. Going to the cliff at full speed. My theory is that the current admin wants to alienate every ally, crash economy, then global economy, remove dollar reserve status, and default on US debt. Wipe it clean, and start from scratch and then enter the age of prosperity. Maybe extreme way to do it, but my brain is too small to think why would you rush to recession/depression. I pray global war is not in the program.

That plan doesn't end in prosperity for the US or its citizens. However, it will be a bigly windfall for the oligarchs.

Explain it to me ike I am 5 how this plan ends up putting the USA in a good place.

I do think that when things turn from theoretical ("we're going to have to tighten our belts!" "short term pain!" "temporary retraction!") to real, some people will wake up. (notice that i said "some.")

It's one thing to think that there will be some temporary pain (which many will think will mostly affect other people-- not them!). it's another to lose your job and be unable to find another one. plus high inflation. plus maybe your retirement account is crashing. people can only be told to "hold on, it's just temporary" for so long. and then they might be questioning what's really on the other side of this "temporary" pain.

+1 short term pain could mean people losing their businesses and houses. It’s like people forgot 2008.

And what happened since 2009? The stock market and housing prices went up and the unemployment rate has dropped since.

MAGA is now advocating for recession and people losing their livelihoods and homes.

Markets go up, markets go down. It's a natural cycle.

The last three Republican Presidents have presided over markets going down, and the last three Democratic Presidents have presided over markets going up. 🤔

Well that's a lie, the market only went down under G.W. Bush. External events heavily influence the economy more then Presidents do.

So Republican policy didn't influence those external events? Just a coincidence markets have fallen during the last GOP presidencies?

Again, it only fell under GW Bush. How did Bush's policies cause the dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11?

Somehow, Bush, Bush and trump managed the economies into recessions and left messes for Clinton, Obama and Biden to fix. Maybe the democrats know how to govern and the GOP doesn't? Its really easy to break things. When was the last time the GOP fixed anything or actually passed legislation that helped the average American?

Did Clinton's policies leave a mess for Bush? (dot com bust, the Worldcom and Enron bankruptcies from fraud, 9/11)
Did Bush's policies leave a mess for Obama? (2008 crash)
Or were they both influenced by outside factors?

Clinton left a budget surplus and healthy economy.

What caused the 2008 crash? Weaker regulatory functions at the banks, which the GOP pushed. The Bush tax cuts also didn't help because that along with the low interest rates, left little room for the Fed to act.

Ahh, yes, the Bush tax cuts. I believe they made movies like The Big Short and Margin Call about that.

I guess you are forgetting the looser SEC laws Bush enacted?