Republicans are bad for business (the country as a whole, actually) (Full Version)

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mnottertail -> Republicans are bad for business (the country as a whole, actually) (10/15/2012 12:08:40 PM)

http://www.economist.com/blogs/graphicdetail/2012/10/live-chart?fsrc=scn/tw/te/dc/gopsmacked

But we've been saying that all along.



Yachtie -> RE: Republicans are bad for business (the country as a whole, actually) (10/15/2012 1:09:32 PM)

quote:

ORIGINAL: mnottertail

http://www.economist.com/blogs/graphicdetail/2012/10/live-chart?fsrc=scn/tw/te/dc/gopsmacked

But we've been saying that all along.



Lets see. The FED was instituted under Wilson (democrat and Progressive), thus began opening the floodgate of FRB banking. Between then and now the dollar has devalued over 90%. Carter (democrat) oversaw the creation of what eventually became the central focus of the housing crisis, low interest loans to previously unqualified recipients. Now Bush the Younger was bad, but under Obama's watchful hand the debt has grown way more. Much of the debt has gone to the good business banks. The dollar is dropping, prices are going up. Makes for better earnings. I'll accept the OP's statement - we've been saying that all along, it's all due to democrats.

A lot of the market's rise is due to high frequency trading (HFT), a practice detrimental to bank depositors; Glass-Steagall having been subverted by its repeal in 1999 (Clinton),,, Think GLOBAL. Even Bill Clinton, democrat, said "the Glass–Steagall law is no longer appropriate." Again, I support the OP's acceptance of responsibility of such good business policies[8|]

So if republicans are bad for business, would seem appropriate that democrats are good for business. And if 90% loss on the value of the dollar has been good for the banks since the inception of the FED, one guess how good its been for the deteriorating middle class? Been to the store lately?

I'm so glad that the OP recognizes and takes responsibility for the ill will towards what the democrats and progressives champion, the middle class. The middle class should thank them. One should always thank one's destroyer. Just good manners[8D]

Perhaps what's needed, per the OP's Republicans are bad for business (the country as a whole, actually), is more of what's good for business - namely democrats. Especially the progressive sort[:'(]


edit: I like how the dot-com blew up under Clinton. Democrats sure do know how to throw a party[:D]



mnottertail -> RE: Republicans are bad for business (the country as a whole, actually) (10/15/2012 1:24:04 PM)

Gramm–Leach–Bliley Act (a purely regressive neo-con teabag) was the fall of Glass-Stegall


It would take too long to recite all the actions that chipped away at Glass-Steagall but a few highlights stand out. In the mid-1980s a Federal Reserve Board stocked with Reagan-Bush appointees began reinterpreting Glass-Steagall in a series of actions that slowly expanded the ability of banks to engage in other financial operations. In 1990, the Fed, under former J.P. Morgan director Alan Greenspan, permitted guess who–J.P. Morgan–to become the first bank allowed to underwrite securities. It is noteworthy that if William Jennings Bryan had had his way about the Federal Reserve Act, Greenspan would have never ascended to the position that allowed him to weaken the act named for the father of the Federal Reserve System.
Four legislative attempts were made to weaken or repeal parts of Glass-Steagall from 1988-1996. One reason they failed is because smaller banks feared that opening the doors to allow banks to trade in securities would lead to the domination of larger banks–a fate that has come to pass. The biggest change came in 1996 when Alan Greenspan issued a ruling allowing bank investment affiliates to have up to a quarter of their business in investments.
At this point, tremendous pressure was exerted on the Clinton Administration, which had earlier threatened to veto the Senate version, to sign the legislation, and intense negotiations continued over community reinvestment and consumer privacy provisions.

I can only find that quote on Wiki, and I am sure more was said.

http://thestrangedeathofliberalamerica.com/bill-clinton-glass-steagall-and-the-current-financial-and-mortgage-crisis-part-two-of-an-indepth-investigative-report.html

So, the destruction of america rightly falls on 'republicans'.




BenevolentM -> RE: Republicans are bad for business (the country as a whole, actually) (10/15/2012 1:38:06 PM)

mnottertail I offer to you the following from my thread "Too Big to Fail?" Post 3

quote:

ORIGINAL: BenevolentM

"Because in much wisdom there is much grief, and increasing knowledge results in increasing pain."

Ecclesiastes 1:18
http://nasb.scripturetext.com/ecclesiastes/1.htm

Hence, wisdom implies a capacity to endure suffering.



mnottertail -> RE: Republicans are bad for business (the country as a whole, actually) (10/15/2012 1:50:29 PM)

The lack of 'republican' knowledge is what is causing the much grief.



BenevolentM -> RE: Republicans are bad for business (the country as a whole, actually) (10/15/2012 2:25:42 PM)

I prefer to say, "They all did it, they are all to blame." That said, it is nice to know someone is working to get the truth out.



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