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Discussion in 'Political Discussion' started by FreeTedWilliams, Feb 19, 2009.

  1. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    Wholesale inflation takes biggest jump in 6 months - Yahoo! Finance

    Wholesale inflation takes biggest jump in 6 months


    You can not spent 3 trillion dollars that you haven't even printed yet, and have no expectations of ever paying off, and not expect inflation to become rampent. This of course is only the start, we will soon be returning to Jimmy Carter type economy numbers real soon.
     
  2. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    We don't care we love Obama.
     
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    As some of us predicted it is right back to the Carter administration... STAGFLATION, no growth + inflation, wonder if we will get to the double digit unemployment of the Carter administration.
     
  4. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Hope
    Yes We Can
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    Speech Speech

    Orgasm
     
  5. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Obama became President January 20, and the inflation data is for January. We are a long way from working our way out of the economic wreck that Bush and the Republican Congress left for the American people, but it's awfully hard to blame Obama's policies for events that took place before he was president or his policies were enacted.
     
  6. BelichickFan

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    #24 Jersey

    WTF ??? This whole wreck happened with a Democrat congress. You have morons like Frank and Dodd who filibustered against Fannie/Freddie regulation then complain there's not enough regulation.

    Obama may not be responsible for today's goings on but he isn't helping.
     
  7. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Republicans controlled both houses of Congress and the Presidency for about 4 years. Bush talked about reform but did not use his political capital to achieve it. Neither side did much about reform, but the Democrats did not have control so their efforts had even less traction than the Republicans:

    Republican Congress Talked About Financial Reform, But Did Nothing

    The Republicans needed to compromise to secure enough votes if they were serious about reform, but they chose not to compromise. Notice how Obama did enough to get 3 Republican votes in the Senate in order to prevent a filibuster of the stimulus bill. He was seriously about the stimulus bill. The Republicans were not serious about reforming Fannie Mae, and in fact you'd be hard pressed to show me articles from the time of their dominance that show them spending political capital to get reform done.
     
  8. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    It's comical to blame the economic crisis on people wanting to live in a house. Sure it was out of their budget in many cases, but all corporations saw was dollar signs.

    It's really just a ploy to let the corporations off the hook because it was capitalism and blame the poor because they are just dead weight and supposedly are taking all your money. But let's ignore all that mortgage interest and fees that the weallthy make as well as obscene 20-30% interest rates. But let's justify that by saying it's peoples choices just like you can shop anywhere but walmart put all the competition out of business.
     
  9. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    This thread can now be titled "FTW Jumps the Shark".

    The inflation report was for the month of January. Bush was President for the first 20 days of January, Obama was President for 11 days.

    Inflation is caused by policies over several years. The "$3 trillion" has not even been put into circulation yet. The jump is the largest in 6 WHOLE months???? Wow, that's downright historic!!!!!!

    Honestly, dude, you are a Mod of this forum. Don't you feel you have a tiny responsibility to the level of discourse in here?

    Or are you THAT ignorant of economics?
     
  10. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey


    Actually, six years - - Jan, 2001 - Jan, 2007.
     
  11. BelichickFan

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    #24 Jersey

    My blaming Democrats was somewhat tongue in cheek to show how stupid you are for blame Republicans ESPECIALLY as the actual crash happened with a Democrat controlled Congress. We all know this has been a long time coming and to blame one person or one party is stupid. The point of the thread is that Obama has obligated us to spend a ton of money and, so far, has received a muted reaction. Maybe down the road it will look different.

    As for a link to the Democrats' filibuster, I'll have to look later - a google now brings up tons of recent articles about it so it will take a while to find stuff from when it actually happened.
     
  12. ljuneau

    ljuneau Rotational Player and Threatening Starter's Job

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    Who freegin cares?! And what does it really matter? Blaming this on Bush, or the Democrats, or the Republicans is silly and just shows you're ingorance. They are ALL responsible. They are ALL to blame.

    Our economy is on fire, and over the past decade the Presidents, the Dems in Congress and the Reps in Congress have been throwing logs into the fire (SPENDING).

    Now TARP 1, the Stimulus bill, TARP 2, mortgage bailout, our government is about to throw a can of gasoline onto the flames. A big can.

    These inflation numbers are just the beginning. In a couple years you're going to be wishing for the numbers of today.

    (shmessy, my comments are not directed towards you, just the whole thread in general)
     
    Last edited: Feb 19, 2009
  13. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey


    I agree with you, ljuneau, which makes me wonder why on earth would the OP of this thread want to venture into an area that, obviously, he knows nothing about - - economics. Trying to make his point that wholesale inflation hit its "zenith" since way back in July, 2008!
     
  14. Real World

    Real World Moderator Staff Member

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    You truly are a classic pal. ;)
     
  15. Real World

    Real World Moderator Staff Member

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    When oil was $140 a barrel.
     
  16. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    'My friends, we live in the greatest nation in the history of the world.
    I hope you'll join with me as we try to change it.'
    -- Barack Obama
    :singing::singing:
     
  17. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    The obligatory lets get hysterical about Obama daily thread... must be more powerful than we thought.
     
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Well things aren't exactly good with him so far are they ?

    Stock market down 25% since election day.
    Terrible nomination process including a tax cheat now in charge of revenue collection.
    Pork filled trillion dollar "stimulus" bill.

    I'd say things have gone about as badly as I feared so far.
     
  19. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    I think that Republican concepts are what set up this crash, though the Democrats were willing lackies in many respects. Tthe Republicans led the drive towards deregulation, tax cuts and deficit spending, trickle-down economics, and, unlike Clinton and Obama, failed to embrace any sort of new technology. They were basically old model, blue chip, oriented. The Republicans had no effective economic strategy. The Democrats did push through GSE reform once they gained power, but by then it was apparently too late and having a highly partisan president did not create a climate for compromise.

    GSE Reform Legislation: Implications for the Investment Portfolio | Community Banker | Find Articles at BNET

    I'm not disputing that the Democrats opposed Republican reforms, but there were specific reasons for their opposition, which the Republicans refused to negotiate on. For instance, one Republican reform bill I believe excluded a large chunk of nonprofit housing and was opposed by some of the major churches. If the Republicans wanted to get something passed, they needed to compromise. That's how democracy works, and they know it.
     
  20. BelichickFan

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    #24 Jersey

    The Democrats should take a lot of blame for forceful encouragement of banks giving out bad loans in poor areas - but that's not what this thread is about.
     

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