what set the stage for the housing bubble was an intentional policy of leaning on fannie mae and freddie mac to set the mortgage bar really low. That blew up in their faces when people who should've never been given a mortgage didn't pay off their mortgage en masse
It ended up working out and gave the FED a shitton of profit in the end, no? IIRC the companies that were still in the red wrt TARP were AIG and the like, not actual banks.
I mean, you can lay the blame for the bubble in every which way possible (including Obama personally for pushing black agenda for an example of one such way), but the way it was dealt with was OK and the people who complain about TARP don't realize that it had like 20% interest and was in fact collected, it was not a handout to "too big to fail" banks.
no, you can't lay the blame on the bubble on a guy who didn't get elected until after the bubble had already popped. Sure, the government was using every trick they've got to keep the 2008 mess from spiraling any further. Has the fed even stopped lending at 0%? What are they gonna do when the next one hits?
Oh, and the big consequence of all this? Other countries quietly buying up gold, waiting their turn for the next dollar correction to show up and say "See, we can't trust the american dollar as the world currency anymore!"
no, you can't lay the blame on the bubble on a guy who didn't get elected until after the bubble had already popped.
Should kms probably. Anyways, I distinctly remember someone blaming someone for pushing the agenda of getting poor (actually middle class) blacks get housing loans. I'm not sure how much did that matter because there's so few of them, but whatever.
I'm pretty sure I'm not qualified to comment on FED policies.
On the other hand I think that I'm qualified enough to lol at your suggestion about gold. Like, on general principles, and also because the last time I checked the US debt to foreign countries was at parity with the opposite, most of the US debt is to itself.
while I agree that the world is never going to return to the gold standard, I expect more and more countries to switch from pegging their currency to the USD to a basket of currencies.
I looked up the bit about U.S. holdings of foreign debt - that's good stuff, thanks. Did not know that. Still concerned about what the next recession will look like
Are you sure? From my own (limited) understanding there were too many causes to pick one. I think unregulated derivatives were more important in the whole mess but I wouldn't pick it as THE cause.
Remember when neoliberalism was just an economic stance and not smug left-wing liberalism? For all their hatred on Donny Blanco, they sure do take after his fanbase.
it was actually smug left-wing liberalism to begin with back in the 30s. it wasn't redefined till the 80s
OG neoliberals were basically the south park neutrals of the broad left. they saw all these socialists and capitalists arguing all over the world and went "pssh, you're BOTH wrong"
OG neoliberals were basically the south park neutrals of the broad left. they saw all these socialists and capitalists arguing all over the world and went "pssh, you're BOTH wrong"
I think i just threw up in my mouth. This truly is the South Park generation
Neoliberalism was always a buzzword used by lefties against anything they don't like or by edgy contrarians. It's more abused than "fascist", "political correctness" and "identity politics".
35 comments
1 SnapshillBot 2017-09-02
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1 HodorTheDoorHolder 2017-09-02
As long as they are fact based and sciencey or whatever
1 InspiringShitpost 2017-09-02
That fucking fed chairman was not great. He was the daddy of 'too big to fail.'
1 HodorTheDoorHolder 2017-09-02
Bernanke? That man is great.
1 InspiringShitpost 2017-09-02
I literally can't even right now. That mother fucker set the stage for housing bubble.
1 DefNotaZombie 2017-09-02
what set the stage for the housing bubble was an intentional policy of leaning on fannie mae and freddie mac to set the mortgage bar really low. That blew up in their faces when people who should've never been given a mortgage didn't pay off their mortgage en masse
1 InspiringShitpost 2017-09-02
Aye my dude. Uncontrolled credit expansion has got to contract eventually!
1 Ultrashitpost 2017-09-02
like a loose anus, it will cramp
1 InspiringShitpost 2017-09-02
Bussy is great, but that doesn't mean we can treat the economy like one.
1 Works_of_memercy 2017-09-02
It ended up working out and gave the FED a shitton of profit in the end, no? IIRC the companies that were still in the red wrt TARP were AIG and the like, not actual banks.
I mean, you can lay the blame for the bubble in every which way possible (including Obama personally for pushing black agenda for an example of one such way), but the way it was dealt with was OK and the people who complain about TARP don't realize that it had like 20% interest and was in fact collected, it was not a handout to "too big to fail" banks.
1 DefNotaZombie 2017-09-02
no, you can't lay the blame on the bubble on a guy who didn't get elected until after the bubble had already popped. Sure, the government was using every trick they've got to keep the 2008 mess from spiraling any further. Has the fed even stopped lending at 0%? What are they gonna do when the next one hits?
Oh, and the big consequence of all this? Other countries quietly buying up gold, waiting their turn for the next dollar correction to show up and say "See, we can't trust the american dollar as the world currency anymore!"
And then things get real fucking messy
1 Works_of_memercy 2017-09-02
Should kms probably. Anyways, I distinctly remember someone blaming someone for pushing the agenda of getting poor (actually middle class) blacks get housing loans. I'm not sure how much did that matter because there's so few of them, but whatever.
I'm pretty sure I'm not qualified to comment on FED policies.
On the other hand I think that I'm qualified enough to lol at your suggestion about gold. Like, on general principles, and also because the last time I checked the US debt to foreign countries was at parity with the opposite, most of the US debt is to itself.
1 DefNotaZombie 2017-09-02
while I agree that the world is never going to return to the gold standard, I expect more and more countries to switch from pegging their currency to the USD to a basket of currencies.
I looked up the bit about U.S. holdings of foreign debt - that's good stuff, thanks. Did not know that. Still concerned about what the next recession will look like
1 Neronoah 2017-09-02
Are you sure? From my own (limited) understanding there were too many causes to pick one. I think unregulated derivatives were more important in the whole mess but I wouldn't pick it as THE cause.
1 YHofSuburbia 2017-09-02
You're talking about Greenspan, not Bernanke, retard.
1 InspiringShitpost 2017-09-02
I am? Oh fuck me sideways.
1 uniqueguy263 2017-09-02
He inherited the mess. For most of it it was Greenspan, who made the mess
1 PM_ME_HAIRLESS_CATS 2017-09-02
Wtf I love Helicopter Ben now
1 The_Reason_Trump_Won 2017-09-02
1 HodorTheDoorHolder 2017-09-02
But, according to three people who were present, Bush gave a brief assessment of Trump’s inaugural after leaving the dais: “That was some weird shit.” All three heard him say it.
1 Ed_ButteredToast 2017-09-02
https://i.imgur.com/w4dFXp7.jpg people thinking that a man like that has no realistic chance of winning is beyond me.
1 Bussypostin 2017-09-02
Please tell me thats real
1 Ed_ButteredToast 2017-09-02
https://twitter.com/realdonaldtrump/status/332308211321425920?lang=en
1 Bussypostin 2017-09-02
Glorious
1 Neronoah 2017-09-02
Trump was elected. Nothing is real. Everything is allowed.
1 Ultrashitpost 2017-09-02
Remember when neoliberalism was just an economic stance and not smug left-wing liberalism? For all their hatred on Donny Blanco, they sure do take after his fanbase.
1 grungebot5000 2017-09-02
it was actually smug left-wing liberalism to begin with back in the 30s. it wasn't redefined till the 80s
OG neoliberals were basically the south park neutrals of the broad left. they saw all these socialists and capitalists arguing all over the world and went "pssh, you're BOTH wrong"
1 Ultrashitpost 2017-09-02
Funny enough, they also got murdered by both the left and right.
I vote to return to those times
1 grungebot5000 2017-09-02
they did really good for an extremely brief period actually, but then they disappeared when the world didn't need them anymore...
...but everything gets a comeback in 2017
1 Saidsker 2017-09-02
I think i just threw up in my mouth. This truly is the South Park generation
1 Neronoah 2017-09-02
Neoliberalism was always a buzzword used by lefties against anything they don't like or by edgy contrarians. It's more abused than "fascist", "political correctness" and "identity politics".
1 Ultrashitpost 2017-09-02
I always saw it being used by socdems who were too pussy to call out "capitalism", so i'm surprised that the neolib sub is now socdem.
1 Neronoah 2017-09-02
Socdem is abused too. I guess a sub so smug was bound to be mocked by everyone.
1 1171798 2017-09-02
I love how /r/neoliberal proves again to be 50% socdem lmao.
Also i want to congratulate /u/PM_ME_FREE_FOOD and /u/darkaceAUS to keep the good fight in /r/neoconNWO 👍 👍
1 grungebot5000 2017-09-02
looking back, there were only like four huge things wrong with W. which I guess makes him overqualified by today's standards