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Which was the fault of Congress for bypassing the free market. Keep treating symptoms and don't address the cause and you'll continue to miss the point, yet again.
The bigger issue was the deregulation of the banking industry. To much cowboy capitalism with a government giving them a wink.
Nonsense.
It wasn't just ONE BANK that was in danger of collapse - it was nearly ALL OF THEM.
Look at what JUST THE COLLAPSE of Leiman Bros did - and was just ONE major bank.
That entire scenario was corrupt.
Quote:
ALL THE MAJOR BANKS had pretty the same problems. One big banks collapsing we can handle. ALL the big banks collapsing is another story completely.
The problem is MBS had proliferated nearly EVERYWHERE.
Ken
No, not all the banks were going to fail. The very argument was that not all were at risk but all would get bundles of money so people didn't know which was which. They caused their own problems.
It's like the government standing outside of the Bellagio with bags full of cash that they give to the losers.
do you sheeplely follow what the government says of 1-2% per year over the last 6 years???
or do you go to the store and compare prices, and see how much things have gone up???
inflation has been near 10-15% for the last 6years
look at the prices in the stores
have you been to the store
prices are going up, and up
coffee is double what it was just 6 years ago in 2008...over 100% in that 6 years....or 20%per year average
coffee up
sugar up
cotton up
corn up
all other vegetables up
all meats up
almost everything us up
REAL INFALTION IS CURRENTLY ABOUT 10-15% or more...unfortunately the government(from either party) doesnt give us the REAL numbers
it certainly is for every working class person or old person
you think that your utility cost being up is not inflation???
you think your medical/pharm costs being up is not inflation???
you think your clothing costs being up is not inflation???
you think your housing (rent and realestate taxes) being up is not inflation???
you think food costs going up is not inflation???
you think building supply costs (ie home depot) being UP is not inflation???
almost EVERYTHING we use has gone up by at least 10% to in some cases 30% in the last 5 years...and you are going to tell me inflation is "only 2% or less"
have you been to the store???...have you SEEN THE PRICES???? milk is nearly $4 a gallon...meats have gone though the roof...in 2004 a 3lb can of coffee was about $3...today its a 2.2lb can of coffee and its $10...over a 300% increase in less than 10 years
sorry you are too blind to see
you certainly do prove that the sheeple are out there for the slaughter
so are you going to tell me YOU BELIEVE the government TELLING YOU that inflation is at 0-3% when PRICES in nearly everything have risen 10-20% or more????
the 'inflation rate' is not REAL INFLATION (ie COST inflation) that real americans (and seniors) feel with almost everything we buy
costs are going up on almost everything..especially food (which is NOT counted in the 'inflation rate')
Junk fish called Tauplia which was selling in 2008 for 1.28 a pound is now close to 6.00 a pound...Catfish that averaged between 3.49 and 3.99 at 6.00 plus.... Not just one store, they are all similar in price. Paper towels are highway robbery.....deli ham/turkey which I used to get for 2-3 a pound...now 6-9 a pound
couple of Thanksgiving ago ,,Sweet potatoes they were 49 cent/pound...now $1.79/pound
breyers icecream HALF GALLON, was (2008) 2for 5...now its 1.5 quarts and its 4/each(on sale)
Even cooking oil 48 fl oz... went from $2.99 (reg. p about 18 months ago) to $3.69 (sale)... and $4.79 (reg. price)....the 64oz is well over $7 now
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let me guess you will next say food doesn't count
Your post is full of nonsense - beginning with the claim the the inflation does not include food. The inflation rate DOES include food - and always has - it's just the CORE INFLATION RATE that excludes food. BOTH rates are published every single month. The CORE inflation rate tends to get the most press because it's less volitile, but BOTH are published month-in, month-out.
Secondly, I just love how you folks post these prices from 2009 without a shred of evidence that those really WERE the prices in 2009. As far was we know you could just be making those prices up - or getting them from some blogger whos' just making them up.
Finally, at least some of your prices from today are completely bogus. I just went up to both Safeway and Walmart and checked a couple of things. For example your claim that cooking oil is $3.69 on sale. If you are actually paying that, you're a complete sucker.
Safeway prices for 48 oz was $3.49 regular - 2 for $5 on sale.
Walmart was wayyyyy cheaper - with most brands (Crisco for example) at $2.50 for 48 oz (NOT on sale).
I checked out the sweet potato bin as well. You claim that they are $1.79/lb, however, Safeway had them for $1.49/lb while Walmart had them for $1.29/lb - and this NOT even at Thanksgiving (when they sell them wayyyyyy cheaper).
And these prices are here in a small town with VERY LITTLE COMPETITION (those are the ONLY 2 places to buy food in Benson). Bigger towns have way more competition and thus lower prices.
The bigger issue was the deregulation of the banking industry. To much cowboy capitalism with a government giving them a wink.
It was a huge quid pro quo. The government wanted the banks to finance their social experiments and in return the government would loosen the leash and look the other way at their corrupt practice all while bankrolling it and guaranteeing to cover any losses.
Which was the fault of Congress for bypassing the free market. Keep treating symptoms and don't address the cause and you'll continue to miss the point, yet again.
The banks wanted to be free of regulation, and that's what the Congress and the Fed gave them, and we (the taxpayer) are still paying for the damage. The Fed (a banking cartel), was created to put banks in a position to maximize their profits, and get the taxpayer to pay for the losses, so the whole thing went according to the design.
What we are seeing here is precisely what the cartel wants to see. They are happy as long as they see Repubs blame Dems, and Dems blame Repubs and people harp against presidents, because as long as they see that, they know people have no clue who is really causing the problems.
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."Thomas Jefferson
Last edited by Finn_Jarber; 10-21-2014 at 04:41 AM..
Of COURSE the Top 1% have benefitted more than the 99%.
When has that NOT been the case - under Obama or any other President?
Regarding the fact that the bottom 99% have lost ground - well, that's been an ongoing trend for the last few DECADES and has little to do with any particular Obama policies. It did worsen during and after the Great Recession because the bottom 99% depends far more upon their SALARIES than the top 1% do - and the UE rate jacked way up as a result of the Great Recession so working people were the most affected (or at least the affect on them was the hardest). And since the UE is ALWAYS one of the LAST THINGS to recover after a recession (that's WHY it's considered a "TRAILING INDICATOR") the bottom 99% has been the slowest to bounce back.
That's the way it's ALWAYS worked.
Ken
Once again, another Obama supporter that doesn't understand math.
The 99% as a whole LOST income during the so called recovery. Lost unadjusted income. This does not always happen, this is not a trend for a few decades.
More idiocy to inflate Obama.
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