For Tiny...great article on income inequality

[The_Waco_Kid]

Originally Posted by WTF

You are so insecure you try and post what you believe to be impressive 401k numbers.

Thank you valued poster...

if yous say so.

Originally Posted by lustylad

You're right that BoA's decision to buy Countrywide ranks among the top ten worst business moves of all time (right up there with, say, the Time Warner-AOL merger). It cost CEO Ken Lewis his job. You're wrong to say they had to absorb 100% of Countrywide because it was "cheaper to do so than not" or because they wanted larger write-offs. That makes no sense. After paying $4.1 billion to complete the acquisition in July 2008 (on the eve of the financial crisis), BoA wound up paying out over $40 billion in legal settlements related to Countrywide's mortgage activities over the next 5 years.

There is plenty of blame to go around for the 2008/09 financial crisis and subsequent recession. It's stupid and simplistic to blame the Fed for creating a housing bubble. It would be more on-target to blame quasi-government agencies such as Fannie Mae and Freddie Mac. They played a more central and direct role in encouraging looser underwriting standards throughout the mortgage industry.

as long as i'm more right than FTW=WTF is wrong i can live with that.

[WTF]

Originally Posted by lustylad

There is plenty of blame to go around for the 2008/09 financial crisis and subsequent recession. It's stupid and simplistic to blame the Fed for creating a housing bubble.!

I was pointing the finger at the Fed for the Stock Market bubble....

I then recommended Wacko to read the Big Short to grasp some history and blame for the housing bubble. Of course there was plenty of blame to go around from both parties and private and public institutions.

Why do you think the market was tanking 15 months ago?

Do you think it had anything to do with folks taking money from the market and getting in some decent paying CD's?

[WTF]

Originally Posted by The_Waco_Kid

if yous say so.







as long as i'm more right than FTW=WTF is wrong i can live with that.

You haven't a clue what right or wrong Mr Chump Change....

[The_Waco_Kid]

Originally Posted by WTF

I was pointing the finger at the Fed for the Stock Market bubble....

I then recommended Wacko to read the Big Short to grasp some history and blame for the housing bubble. Of course there was plenty of blame to go around from both parties and private and public institutions.

Why do you think the market was tanking 15 months ago?

Do you think it had anything to do with folks taking money from the market and getting in some decent paying CD's?

the Big Short doesn't blame the Fed sparky. i pointed that out already. you seem to be ignoring that fact. like yous always do.

[lustylad]

Originally Posted by The_Waco_Kid

as long as i'm more right than FTW=WTF is wrong i can live with that.

WTF is a lot like AOC.... ALWAYS WRONG BUT NEVER IN DOUBT!!

But at least AOC is fun to dance with!!

[WTF]

Originally Posted by The_Waco_Kid

the Big Short doesn't blame the Fed sparky. i pointed that out already. you seem to be ignoring that fact. like yous always do.

I said Moral Hazzard....which was basically these Fed inspired assholes letting their guys off the hook.

Who do you think came to these assholes rescue? Treasury and Fed.

Fuck man....you definitely know more about basketball than this...

[The_Waco_Kid]

Originally Posted by WTF

I said Moral Hazzard....which was basically these Fed inspired assholes letting their guys off the hook.

Who do you think came to these assholes rescue? Treasury and Fed.

Fuck man....you definitely know more about basketball than this...

first why don't you learn how to spell hazard. and second the Fed bailout was an after the fact reaction. you still haven't come close to making any relevant point that backs up your claim that the Gov/Fed caused the crisis. so by your logic the Fed should have seen this coming and done what exactly? they have no regulatory authority over those lenders. butt you knew that, right??

[The_Waco_Kid]

Originally Posted by lustylad

WTF is a lot like AOC.... ALWAYS WRONG BUT NEVER IN DOUBT!!

But at least AOC is fun to dance with!!

the redhead is hotter.

[lustylad]

Originally Posted by WTF

I said Moral Hazzard....

Which one is Moral? And what does he/she have to do with any of this?

[Tiny]

Originally Posted by WTF

https://www.theguardian.com/inequali...-bad-economics

Let's discuss...

I prefer death to living in a country ruled by Bernie Sanders. But I like Costa Rica much better than either of those options. "Escape from America" requires a lot of time and planning, so I don't have time to piddle around right now on eccie.net.

However, like Jesus between the crucifixion and the ascension, I've come back for a short time (just this post) to minister unto you.

My answers are in my posts,

Is America really as unequal as you think:

https://www.eccie.net/showpost.php?p...5&postcount=68
https://www.eccie.net/showpost.php?p...0&postcount=13

U.S. taxation is already the most progressive in the developed world:

https://www.eccie.net/showpost.php?p...&postcount=245

So if we've already tried redistributive taxation, and it didn't work, what should we do to reduce inequality?

https://www.eccie.net/showpost.php?p...6&postcount=56
https://www.eccie.net/showpost.php?p...2&postcount=17

See the last paragraph here, the single most effective thing you could do to reduce inequality, although it goes against our instincts:

https://www.eccie.net/showpost.php?p...0&postcount=20

Fucking Wakeup's wife: https://www.eccie.net/showthread.php...post1061765310

Before I ascend, I have a couple of messages. The first is meant for you specifically WTF. I used to post in the political forum on an offshoot of internationalsexguide.info. I knocked heads with a couple of "LustyLads of the Left." They were formidable and they knocked me around good, because they knew economics better than I do. I learned from them and sharpened my arguments. I abandoned some of my prejudices and assumptions, for example, that the economy performed better on average when Republicans were president. I'd encourage you to do the same, my esteemed gatero. (Aside: on Spanish language hooker boards like eccie.net, posters sometimes start their messages with "Estimados Gateros". It's an elegant way of saying "my esteemed fellow whoremongers." This is a spirit perhaps we could use more of here.)

And something not meant for you, but more general. I'm reading a book about the history of slavery in America and the origins of the Civil War. William Lloyd Garrison was a fire and brimstone abolitionist and newspaper publisher in the 1830's. Francis Wayland, the president of Brown University, had some good advice for him: "your menacing vindictive attitude towards slaveholders prejudiced their minds against a cool discussion of the subject." If Garrison and other had taken his advice and tried to make their arguments without attacking the people whose ideas they were trying to change, we might have ended slavery in the USA without the sacrifice of 600,000 young men and huge damage to the economy of the South.

And so, in the spirit of Jesus, not the Terminator, I say the following,

I'll be back

There are many lost souls, and many converts to be won for The Free Markets Church of Tiny.*









*Bitcoin donations accepted, PM me for details

[Levianon17]

Originally Posted by WTF

Your opinion means nothing....

John Mellencamp

With that being said stop giving us yours. Because it means nothing as well. Now stop worrying about shit that isn't in your circle of control.

[WTF]

Tiny , I appreciate your humor and our overlapping stance on many things.

It is ashame your right wing Trumpers are so blinded by the cult of personality.

No sense in a elongate response as you've indicated you're back in hibernation.

Enjoy the book and be ready for even more enlightenment when you emerge.

No charge!

[The_Waco_Kid]

Originally Posted by WTF

It is ashame your right wing Yrumpers are so blinded by the cult of personality.

if you say so.


i find yous and your fellow lefttard posters amusing when you spout the "cult of personality" rhetoric. you really think that Trump is Jim Jones?


BAHAHHAAAAA

[bb1961]

They just do stinkin thinking not critical thinking.

[WTF]

Originally Posted by The_Waco_Kid

you really think that Trump is Jim Jones?


BAHAHHAAAAA

No Trump isn't Jim Jones but you are a Jim Jones koolaid drinking follower