Bernanke popped the real estate bubble

Quote from gnome:

Hey man, if you're gonna talk SHIT, don't attribute it to me. I never said "RE bubble has not been popped"... maybe it has, maybe not.
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You're not sure?
 
You're not part of the problem at all. Your delinquincy in payments is between you and countrywide. If the Fed/gummint allows the market to work itself out, a planner and a saver, such as myself, may move into your house next year for only $500K. On the otherhand, if the gummint attempts to bail you or countrywide out, then my dollars' value will approach zero, I won't able to buy your house at a discounted rate, countrywide will continue to proffit, and you'll get a free pass. But to blame you is ludicrous.

Quote from RhinoGG:

I make about 28,500 in income from my job at the "mart". But, I told Countrywide I made 220k/yr when I applied for my mortgage of 750k a few years ago. I havent made a mortgage payment in over 9 months since the rate reset, but we're still in the home. I figure we'll just walk away from in in a few more months, you know, in the summertime when the livin is easy.

Do you think I may be part of the problem.
Oops, sorry bout that 'merica.
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I understand how some people can complain about Bill Clinton's social and welfare policies, but did I just dream that while he was president the budget was balanced and the dollar INCREASED in strength. Was his fiscal policy not extremely different than Bush's?

Quote from gnome:

Hey man, if you're gonna talk SHIT, don't attribute it to me. I never said "RE bubble has not been popped"... maybe it has, maybe not. But if so, it has NOT "been popped by Bennie", but rather "over his dead body". He's fighting tooth-and-nail to keep it afloat. (Just one of the reasons he's a pipsqueak little cocksucker, who promised to kiss Bush's ass to get the job, and should NOT be Fed chairman. Where are Paul Volker and the next Andrew Jackson when we need them? You don't understand the relevance of these pleas? Perhaps you'd benefit from studying some American and World financial history...)

Andrew Jackson's likeness is on American Currency. Why is that? It's because he's a great, GREAT American leader and hero!!

If you don't understand what he stood for and what he did, you NEED to look into it. If you did, you'd PUKE, P-U-K-E on Bush, Hillary, Bill Clinton, Obama... none of them represent the DUNG of 2 DEAD FLIES by comparison to TRUE American leaders...

All[?] of the politicos today are little more than self-serving, lying, thieving SOBs who want to exercise power over the American people and line their own pockets from the public purse. If you believe otherwise, you need to pull your head out of your ass!
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Quote from bellman:

I understand how some people can complain about Bill Clinton's social and welfare policies, but did I just dream that while he was president the budget was balanced and the dollar INCREASED in strength. Was his fiscal policy not extremely different than Bush's?
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Mostly irrelevant. Clinton happened to luckily catch the .com bubble near its peak and the concurrent tax revenues from capital gains. He also RAISED income taxes. His apparent "budget" success was mostly "higher taxes and good fortune". (Shoot, ANYBODY could balance the budget if they raised taxes enough.)

I'm not defending Bush... he deserves a kick in the balls from each and every American if anyone ever did... but just because he has been a potlicker president doesn't mean that Clinton was any less crappy.
 
Quote from DeepFried:

Yes, as I've been informed by gnome, the real estate bubble has not been popped and, even if it had, Bernanke had nothing to do with it. :D
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My comment was not about the RE bubble, which has popped in places where it was a bubble, other places never got so bubbly, and so have had no reason to "pop". My comment was about your general misunderstanding of economics.
 
True, it was fortune to be president during the .com boom, which ended abruptly in 2000 with respect to the underlying traded equities, BUT I could argue that a dramatic run-up in the stock market is inflationary, as company valuations and credit against stock increased more dramatically than the actual amount of money invested. The cash used to to raise the price of a single lot of stocks increases the valuations on ALL outstanding shares, so although the transaction seems to decrease money supply initially, it actually creates money, perpetuates inflation, and the fire feeds itself... does any of that theory make any sense?

As the stock market growth outpaces actual growth in production/people/consumption, inflation occurs. That is what I'm trying to say. Does that seem to be a correct conclusion?

Quote from gnome:

Mostly irrelevant. Clinton happened to luckily catch the .com bubble near its peak and the concurrent tax revenues from capital gains. He also RAISED income taxes. His apparent "budget" success was mostly "higher taxes and good fortune". (Shoot, ANYBODY could balance the budget if they raised taxes enough.)

I'm not defending Bush... he deserves a kick in the balls from each and every American if anyone ever did... but just because he was a potlicker president doesn't mean that Clinton was any better.
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