So you think it was ok for Betone got screwed by Obama for 8 years of 0% rates?
Obama's term ends and the Fed starts raising rates, get a clue.
After Raising Rates Once During The Obama Years
- Thread starter Skulnik
- Start date
So you think it was ok for Betone got screwed by Obama for 8 years of 0% rates?
Obama's term ends and the Fed starts raising rates, get a clue.
He wasn?t getting screwed. He made out with his investments.
Go back to the kiddie table and let the adults handle it.
Skulnik: Does the fact that the current Chairman of the Fed was appointed by Trump help or hurt your argument?
:0003
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So you are finally agreeing with me, O'Shitstain was part of a RIGGED economy, that wasn't so hard, was it?
:facepalm:
Gary, I thought you would be the bigger man, admit I was right and move on, who looks ignorant now?
Fact Check: Obama Had More to Do With 2008 Economic
Meltdown Than Bush Ever Did
Jim Hoft Sep 5th, 2012 2:02 pm ?24 Comments
Here?s something you?ll never read about in the liberal media.
Barack Obama played a leading role in the mortgage crisis of 2008 that sunk the US economy.
In his early activist days, Barack Obama the community organizer sued banks to ease lending practices.
State Sen. Barack Obama and crackpot priest Michael Pfleger led a protest in Chicago in January 2000. (NBC 5 Week of January 3, 2000)
In 1994, Barack Obama was one of the plaintiffs in a class action lawsuit, alleging that Citibank had engaged in practices that discriminated against minorities. The lawsuit forced the bank to ease its lending practices.
The Daily Caller reported:
?
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices?
?Obama has pursued the same top-down mortgage lending policies in the White House.
Obama?s lawsuit was one element of a national ?anti-redlining? campaign led by Chicago?s progressive groups, who argued that banks unfairly refused to lend money to people living within so-called ?redlines? around African-American communities. The campaign was powered by progressives? moral claim that their expertise could boost home ownership among the United States? most disadvantaged minority, African-Americans.
Then there?s Bush?
On the flip side, President George W. Bush warned the Democratic Congress 17 times in 2008 alone about the systemic consequences of financial turmoil at Fannie Mae and Freddie Mac and also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
Unfortunately, these warnings went unheeded, as the President?s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
To this day Barack Obama blames Bush for the 2008 economic meltdown.
The truth is, it was Obama not Bush who destroyed the economy.
Meltdown Than Bush Ever Did
Jim Hoft Sep 5th, 2012 2:02 pm ?24 Comments
Here?s something you?ll never read about in the liberal media.
Barack Obama played a leading role in the mortgage crisis of 2008 that sunk the US economy.
In his early activist days, Barack Obama the community organizer sued banks to ease lending practices.
State Sen. Barack Obama and crackpot priest Michael Pfleger led a protest in Chicago in January 2000. (NBC 5 Week of January 3, 2000)
In 1994, Barack Obama was one of the plaintiffs in a class action lawsuit, alleging that Citibank had engaged in practices that discriminated against minorities. The lawsuit forced the bank to ease its lending practices.
The Daily Caller reported:
?
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices?
?Obama has pursued the same top-down mortgage lending policies in the White House.
Obama?s lawsuit was one element of a national ?anti-redlining? campaign led by Chicago?s progressive groups, who argued that banks unfairly refused to lend money to people living within so-called ?redlines? around African-American communities. The campaign was powered by progressives? moral claim that their expertise could boost home ownership among the United States? most disadvantaged minority, African-Americans.
Then there?s Bush?
On the flip side, President George W. Bush warned the Democratic Congress 17 times in 2008 alone about the systemic consequences of financial turmoil at Fannie Mae and Freddie Mac and also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties.
Unfortunately, these warnings went unheeded, as the President?s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
To this day Barack Obama blames Bush for the 2008 economic meltdown.
The truth is, it was Obama not Bush who destroyed the economy.
2007: GDP = 1.9%, Unemployment = 6%, Inflation = 4.1%
Sep 18
4.75%
Home sales fell.
Oct 31
4.5%
Dec 11
4.25%
LIBOR rose. Stock market peaked. Recession began.
2008: GDP = -0.1%, Unemployment = 6%, Inflation = 0.1%
Jan 22
3.5%
Jan 30
3.0%
Tax rebate.
Mar 18
2.25%
Bear Stearns bailout.
Apr 30
2.0%
Lehman fails. Bank bailout approved. AIG bailout.
Oct 8
1.5%
^
Oct 29
1.0%
^
Dec 16
0.25%
Effectively zero. Lowest fed fund rates possible
Between2008 and 2015, the Fed kept the rate at zero. Recession ended in June 2009.
Fed Chair Janet Yellen (February 2014?February 2018)
2015: GDP = 2.9%, Unemployment = 6%, Inflation = 0.7%
Dec 17
0.5%
Growth stabilized so Fed began raising rates.
2016: GDP = 1.6%, Unemployment = 4.6%, Inflation = 2.1%
Dec 15
0.75%
Fed maintained steady increase in rates.
2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%
Mar 16
1.0%
Fed was steady on its path of normalizing its benchmark rate.
Jun 15
1.25%
^
Dec 14
1.5%
^
Fed Chair Jerome Powell (Since February 2018)
2018: GDP = 2.95, Unemployment = 3.9%, Inflation = 1.9%
Mar 22
1.75%
Fed projects steady growth.
Jun 14
2.0%
^
Sep 27
2.25%
^
Dec 19
2.5%
Fed stopped raising rates in 2019.
https://www.pgpf.org/analysis/2018/...ill-raise-interest-costs-on-the-national-debt
Sep 18
4.75%
Home sales fell.
Oct 31
4.5%
Dec 11
4.25%
LIBOR rose. Stock market peaked. Recession began.
2008: GDP = -0.1%, Unemployment = 6%, Inflation = 0.1%
Jan 22
3.5%
Jan 30
3.0%
Tax rebate.
Mar 18
2.25%
Bear Stearns bailout.
Apr 30
2.0%
Lehman fails. Bank bailout approved. AIG bailout.
Oct 8
1.5%
^
Oct 29
1.0%
^
Dec 16
0.25%
Effectively zero. Lowest fed fund rates possible
Between2008 and 2015, the Fed kept the rate at zero. Recession ended in June 2009.
Fed Chair Janet Yellen (February 2014?February 2018)
2015: GDP = 2.9%, Unemployment = 6%, Inflation = 0.7%
Dec 17
0.5%
Growth stabilized so Fed began raising rates.
2016: GDP = 1.6%, Unemployment = 4.6%, Inflation = 2.1%
Dec 15
0.75%
Fed maintained steady increase in rates.
2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%
Mar 16
1.0%
Fed was steady on its path of normalizing its benchmark rate.
Jun 15
1.25%
^
Dec 14
1.5%
^
Fed Chair Jerome Powell (Since February 2018)
2018: GDP = 2.95, Unemployment = 3.9%, Inflation = 1.9%
Mar 22
1.75%
Fed projects steady growth.
Jun 14
2.0%
^
Sep 27
2.25%
^
Dec 19
2.5%
Fed stopped raising rates in 2019.
https://www.pgpf.org/analysis/2018/...ill-raise-interest-costs-on-the-national-debt
