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Old December 22nd, 2017, 10:18 PM   #11
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Originally Posted by goober View Post
apparently Steel companies in the US are not resurgent under Trump.

At least the ones that make steel for infrastructure, you would think that a trillion dollars in infrastructure would need some steel.
But apparently imaginary infrastructure with imaginary funding from an imaginary infrastructure bill, uses imaginary steel...


https://www.nytimes.com/2017/12/22/b...T.nav=top-news
I was an Ironworker for a long time but never a Steelworker. The two trades are vastly different. Steelworkers make the steel but Ironworkers nut and bolt it together. China is flooding the market with their government supported steel industry products. China is also adept in making fake old US coins which are valuable when real. China is doing it!
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Old December 23rd, 2017, 03:32 AM   #12
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The policy that crashed the market was the manditory lending of unsecured loans to high risk borrowers.that was actually a democrat policy and law. But it happened in Bush"s term so he owns it and Obama owns it from his first day in office till his last, too.
First of all, there was never "manditory(sic) lending of unsecured loans to high risk borrowers", you're just making that up.
It was credit default swaps that crashed the economy, a 77 trillion dollar exposure that was unregulated(sounds like a Conservative Republican Policy, trusting the market to police itself).

The crash happened 7 years into the Bush Administration, most of that time with a Republican congress, it's really not possible for a president and a party to own a crash more thoroughly.
There were three times in the last 100 years that both houses of congress and the White House were in Republican hands, and large tax cuts were passed. That was in the leadup to the Great Depression, in the leadup to the Great Recession and of course, right now.
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Old December 23rd, 2017, 04:13 AM   #13
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The first part is what the ignorant believers of tinkle-on economics (thx Clara) actually believe, the fools.

They can't see the second part, it's too complex for them to think past tomorrow.


Preach it, Brother! The lack of vision has ALWAYS been the undoing of the Right.
They have rarely (at least in the last few decades) been able to see past their nose. This half-baked tax bill is a perfect example. It MAY BE a short-term fix--a way to appease the voters for a while. Then what? We've seen the CBO projections so all the GOP is doing is kicking the can down the road and adding to the deficit.
It doesn't take an Einstein to look at the estimates (historically and otherwise) to see the wreckage coming down the road. AND...that's all they really want...after YEARS of pretending to care about the deficit under Obama....they wanted a quick fix JUST SO THEY could say they DID something.

LOOK WHAT WE DID! WE built that. Trump said it yesterday when he was signing the bill. I've signed more legislation than *all the other presidents*--his type of mindset. "THIS is historic".
In other words, please please LOVE ME because I'm so awesome! Blech.
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Old December 23rd, 2017, 06:59 AM   #14
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First of all, there was never "manditory(sic) lending of unsecured loans to high risk borrowers", you're just making that up.....
Yes there was and there still is. Lenders are required by law to show they make loans to certain low income zones.
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Old December 23rd, 2017, 07:08 AM   #15
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Yes there was and there still is. Lenders are required by law to show they make loans to certain low income zones.
You are clueless to what led to the housing collapse. It wasnít poor people. It was greedy people financing and buying investment properties trying to take advantage of the housing value boom. It has happened over and over throughout history. The tech stock bubble that burst in the early 2000ís had nothing to do with poor people either. Banks have paid huge fines for their illegal behavior.
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Old December 23rd, 2017, 07:18 AM   #16
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You are clueless to what led to the housing collapse. It wasn’t poor people. It was greedy people financing and buying investment properties trying to take advantage of the housing value boom. It has happened over and over throughout history. The tech stock bubble that burst in the early 2000’s had nothing to do with poor people either. Banks have paid huge fines for their illegal behavior.
The Community Reinvestment Act and its many reforms require banks to make a certain % of loans in red lined areas.
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Old December 23rd, 2017, 07:23 AM   #17
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Yes there was and there still is. Lenders are required by law to show they make loans to certain low income zones.
Do you know the difference between an unsecured loan and a mortgage?
Do you know what a mortgage derivative is?
Did you know that mortgages were selling for 105 in 2005?
Have you ever heard of "Supply And Demand"?
Do you have any idea what that means?
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Old December 23rd, 2017, 07:23 AM   #18
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And of course the push by Bill Clinton (and GW Bush) to expand home ownership by pushing Fannie Mae and Freddie Mac to make sub prime loans.
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Old December 23rd, 2017, 07:57 AM   #19
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The Community Reinvestment Act and its many reforms require banks to make a certain % of loans in red lined areas.
72% of foreclosures were refinanced loans. These were people that were using the equity in their homes as piggy banks. The banks were fined hundreds of millions for illegal lending practices. Your stale talking points have been debunked on this site over and over.
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Old December 23rd, 2017, 07:59 AM   #20
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The Community Reinvestment Act and its many reforms require banks to make a certain % of loans in red lined areas.
Yes, banks failed in this country and around the world because poor folk in this country received loans. The very scope of the crisis renders your stale right wing talking point laughable.
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