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Unemployment Rate Hits The Lowest Level Since 1969 Does Obama Still want Credit?

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posted on Oct, 5 2018 @ 08:17 PM
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originally posted by: CriticalStinker
a reply to: Fools

I see where you are coming from, and most of those points are valid.

But we will see if there is any "trickle down", or if corporations/stock holders just pocket it.

Come on now
Having A job making money is much better than the alternative.




posted on Oct, 5 2018 @ 08:20 PM
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a reply to: CriticalStinker




But they are filling jobs we won't for the most part.

And you say this as dogma , how ?
I know , the beloved liberal loon leadership said so...




posted on Oct, 5 2018 @ 08:22 PM
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originally posted by: CriticalStinker

originally posted by: Wardaddy454

originally posted by: CriticalStinker

originally posted by: notsure1

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!



This is called "denial"


Or just the partisan circle jerk.

Trump supporters say the economy is great because of him. The left says this is all coming in from the end of Obama's reign.

Aside from the stock market, the economy isn't that great. Considering nothing fixed what happened in 08', it surely could happen again, and many say it may be worse.

If you look at average Americans, their pay isn't increasing, and debt continues to mount on them and the country.


What happened in 08' was a lack of oversight and regulation, resulting in a party buying votes with mortgages.


And it will happen again because nothing was done.

For one , the Federal government stepped in and basically took control of Fannie Mae and Freddie Mac .



posted on Oct, 5 2018 @ 08:26 PM
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a reply to: Gothmog

yeah what they should have done was let it crash (capitalism requires this to be successful) and to allow the market to respond, by stepping in the government essentially took control and propped up the same broken system that failed in the first place

in a truly free market (we have a command economy) the government would have done nothing and people would have create another system that would either fail or work properly



posted on Oct, 5 2018 @ 09:25 PM
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originally posted by: Wardaddy454

originally posted by: CriticalStinker

originally posted by: notsure1

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!



This is called "denial"


Or just the partisan circle jerk.

Trump supporters say the economy is great because of him. The left says this is all coming in from the end of Obama's reign.

Aside from the stock market, the economy isn't that great. Considering nothing fixed what happened in 08', it surely could happen again, and many say it may be worse.

If you look at average Americans, their pay isn't increasing, and debt continues to mount on them and the country.


What happened in 08' was a lack of oversight and regulation, resulting in a party buying votes with mortgages.


Not really. That wasn't the real cause. Mortgage underwriting got so loose that it invited a lot of fraud primarily from speculators trying to acquire and flip properties. I was on the front lines.

The movie the Big Short kind of touched on this in the scene with the stripper saying she owned five houses. What all the stated, NINJA and other low documentation loans brought into the system was fraud that would never get past underwriting today. People started lying about their income and because underwriting wasn't checking simply because they had high FICO score or large down payment, they weren't able to detect the fraud.

In Florida, there were 10,000 felons originating mortgages.

Here is an article from 2005, a full three years before the crash was in full swing. It is talking about how gangs in Chicago got out of drug dealing and into mortgage fraud. The Sopranos even had an episode touching on appraisal fraud. One of the main couples of Real Housewives of NJ went to jail over mortgage fraud. Even the actor, Tiny Lister (the guy who played Debo in Friday and other movies) got caught up in mortgage fraud.

Mortgage Fraud is the Thing to Do Now

From 2005 article above:



During the last five years, as home loans became easier than ever to get and identity theft blossomed, mortgage fraud surged. FBI officials say it now threatens to become a national financial epidemic. Gang members call it "the new street hustle." "If you are still making money selling drugs, you are an informant or aboutto be busted. Mortgage fraud is the thing to do now," said convicted identitythief Christopher Scott in a prison interview.


What most people don't understand is that all the paperwork involved in getting a mortgage is not so much trying to determine if you qualify, but more so to prevent fraud. Mortgages are high volume, large transactions involving hundreds of thousands of dollars, if not millions. Appraisers, Realtors, Buyers, Sellers, Title Companies, Attorneys.... gangs, drug dealers, speculators.... EVERYONE is trying to pull a fast one over to make a quick buck.

When the housing market first started imploding, 50% of the foreclosures were INVESTMENT PROPERTIES. What happened was as these investors started going belly up, they took down the values of the surrounding homes.

Before social media blew up, this idiot was the poster child of the housing crash. His name was Casey Serin. He was a 20 something guy who started a popular blog called "I am facing foreclosure" and it detailed all his shenanigans in buying homes (essentially committing fraud) by lying about his income, etc.

Casey Serin



an Uzbekistan-born American blogger and a former real estate investor. In a newspaper article, USA Today called him the "poster child for everything that went wrong in the real estate boom".[1] Born in Tashkent, Uzbekistan, Serin immigrated to the United States in 1994. After graduating from high school, Serin bounced from job to job, generally working in website design. However, in his early twenties, Serin decided to quit working full-time in order to pursue a career in house flipping as a means of earning an income and building wealth. In an eight-month period beginning in October 2005, Serin purchased eight houses in four southwest U.S. states, and then began blogging about the foreclosure[2] process on the properties he was unable to resell. In time, five of the eight properties foreclosed.[3] The dubious nature of Serin's real estate transactions, coupled with his subsequent blogging about the affair, have led to Serin's name becoming strongly associated with the subprime mortgage crisis.


There were tens of thousands of Casey Serins....



posted on Oct, 5 2018 @ 10:02 PM
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originally posted by: Gothmog

originally posted by: CriticalStinker
a reply to: Fools

I see where you are coming from, and most of those points are valid.

But we will see if there is any "trickle down", or if corporations/stock holders just pocket it.

Come on now
Having A job making money is much better than the alternative.


It is, you're a hundred percent right.

Only point I've kept through the thread is that in context the unemployment numbers are OK.

Let's not act like the economy is in the best shape it's ever been.

I'm not sh**ing on Trump or even necessarily blaming him for it not being better. But the partisans on both sides sure like to paint it differently than it is.



posted on Oct, 5 2018 @ 10:05 PM
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originally posted by: Gothmog
a reply to: CriticalStinker




But they are filling jobs we won't for the most part.

And you say this as dogma , how ?
I know , the beloved liberal loon leadership said so...



Calling it as I see it.

We definitely need to reform immigration policy, and figure out how to deal with those that try and skirt the rules. In all honesty illegals get the worst end of the stick at the end of the day. They are invisible, so they aren't protected from any kind of exploitation.

That said, we all know they are not the end all be all problem with our economy.



posted on Oct, 5 2018 @ 10:11 PM
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originally posted by: Gothmog

originally posted by: CriticalStinker

originally posted by: Wardaddy454

originally posted by: CriticalStinker

originally posted by: notsure1

originally posted by: Tompdx3
a reply to: notsure1

Yeah, he is killing something alright. But it is nothing good however you wish to spin it in your head!



This is called "denial"


Or just the partisan circle jerk.

Trump supporters say the economy is great because of him. The left says this is all coming in from the end of Obama's reign.

Aside from the stock market, the economy isn't that great. Considering nothing fixed what happened in 08', it surely could happen again, and many say it may be worse.

If you look at average Americans, their pay isn't increasing, and debt continues to mount on them and the country.


What happened in 08' was a lack of oversight and regulation, resulting in a party buying votes with mortgages.


And it will happen again because nothing was done.

For one , the Federal government stepped in and basically took control of Fannie Mae and Freddie Mac .


I said nothing was done, but in previous posts I elaborated on that by saying we through a band-aid on it.

Nothing was done to correct the problems.

We simply floated some of the banks, created an environment for some of the big ones to absorb vast amounts of wealth.... And my favorite part, all money provided was at the expense of the tax payers. Granted the money was payed back to the government, but it still rewarded reckless behavior and no one got punished. The higher ups still got bonuses after we floated the failed companies.



posted on Oct, 5 2018 @ 10:17 PM
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Does it matter who gets credit?

The economy is booming under Trump. Regardless who started it.


Lets just keep it up!

Better trade deals, lower taxes, higher wages, more job opportunities.

More people working means less people reliant on government.


I think we can all agree that this is a good thing.



posted on Oct, 5 2018 @ 10:31 PM
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For those of you who think Obama is responsible;

Keep thinking that way. Just know that Trump is perpetuating what Obama started. You should be supporting him then if he is continuing what Obama started.


For those of you who think Trump is responsible;

Keep thinking that way. Just know that Trump is doing a good job. You should be supporting him so he can continue what he is doing!




See?

Easy.




posted on Oct, 5 2018 @ 10:34 PM
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a reply to: DBCowboy

just out of pure curiosity can you show me exactly what changes Trump made that brought the economy back to life?


edit on 5-10-2018 by toysforadults because: (no reason given)



posted on Oct, 5 2018 @ 10:35 PM
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a reply to: CriticalStinker

the biggest economic problem is government power and lobbyist

simple solution seems to be to take away government power



posted on Oct, 5 2018 @ 10:36 PM
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originally posted by: toysforadults
a reply to: DBCowboy

just out of pure curiosity can you show me exactly what changes Trump made that brought the economy back to life?



Lowered taxes, reduced government regulations that were strangling start-ups.

Just off the top of my head.



posted on Oct, 5 2018 @ 10:38 PM
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a reply to: DBCowboy

what regulations exactly?



posted on Oct, 5 2018 @ 10:47 PM
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a reply to: toysforadults



The White House’s Office of Management and Budget detailed Thursday how it would jettison hundreds of existing or planned regulations as part of its larger push to ease federal restrictions on the private sector, upending federal policies on labor, the environment and public health.
The list, issued as part of a semiannual report on the entire government’s regulatory agenda, shows the extent to which this administration is determined to erase many of the Obama administration’s policy priorities. In several instances, the administration is dropping rules aimed at tightening worker safety standards or omitting species the government had pledged to protect under the Endangered Species Act. In other cases, it is proposing new regulations that provide employers with more leeway in how they run their businesses or report their activities to federal officials.
The Trump administration said it was pulling or suspending 860 pending regulations. Of those, 469 were being completely withdrawn. Another 391 were being set aside or reevaluated. These proposed regulations could be revisited at some point or dropped altogether.


www.washingtonpost.com... 140b38cc_story.html?utm_term=.c0150b4f28e5


I Bing'd "what government regulations did trump eliminate?"



posted on Oct, 5 2018 @ 10:51 PM
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a reply to: DBCowboy

so which one made it easier for startups?



posted on Oct, 5 2018 @ 10:56 PM
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originally posted by: toysforadults
a reply to: DBCowboy

so which one made it easier for startups?


Specifically?

I'd have to read up.

Google or Bing it.

I've read some things just by answering your previous question.



posted on Oct, 5 2018 @ 11:08 PM
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a reply to: DBCowboy

just figured you had an idea being as you made the claim



posted on Oct, 5 2018 @ 11:12 PM
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originally posted by: toysforadults
a reply to: DBCowboy

just figured you had an idea being as you made the claim


Yeah, don't know the specifics, but I'm not an economist.


I know that taking aspirin gets rid of headaches, but I'd have to spend some time drawing out the chemical reactions that actually do it. I couldn't do it just because someone wanted me to.

Sorry.



posted on Oct, 6 2018 @ 01:14 AM
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He wants to steal credit, because he wants us to forget what he said about jobs before. This sums it up nicely:





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