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hfojvt

(37,573 posts)

8. sorry that's just dumb

Sun Jan 10, 2016, 12:49 PM

Jan 2016

"all that debt" did not come from TARP, nor from the stimulus bills.

There was plenty of debt before that, and plenty of causes - the Reagan tax cuts, the Clinton tax cuts, the Bush tax cuts (all mostly benefiting the rich) the Iraq war, the Afghanistan war, the prescription drug subsidy, and so on.

And a bunch of the new debt came from the recession - lost revenue and extra expenses caused by that.

Of course, now we have the Obama tax cuts too - $1.3 trillion to the richest 5% over the next decade.

And of course, even more to the richest 20%.

An orgy of tax cuts for the top 20% means that the bottom 40% needs to tighten their belts.

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Highlight:

Single paragraph explanation of the financial crisis by Prof Mark Blyth [View all] Triana Jan 2016 OP

That lays out how the wealth transfer occurred GummyBearz Jan 2016 #1

Are we tlking about the financial crisis from nearly 8 years ago? MohRokTah Jan 2016 #2

Uh, look at stocks and high yield bonds GummyBearz Jan 2016 #3

OFFS! MohRokTah Jan 2016 #4

Well thought out reply GummyBearz Jan 2016 #6

You're screaming the sky is falling because of normal correction behavior in the markets? MohRokTah Jan 2016 #9

Hey, have you been listening to right wing talk? I hope you will protect your Duval Jan 2016 #12

Hey, do you have a clue how the markets work? MohRokTah Jan 2016 #13

Would you please explain "how the markets work" to those who do not JDPriestly Jan 2016 #33

The markets go up. The markets go down. MohRokTah Jan 2016 #38

Not sure who saw a greater than normal return. My husband did not. He lost a large part of his glinda Jan 2016 #41

The DOW is still higher than it was at it's highest before the 2008 crash. MohRokTah Jan 2016 #42

He is under the TRA and their investments did not come back near enough. glinda Jan 2016 #52

Perfect explanation, well done. DU in general does not understand how Wall St. / investments work JonLeibowitz Jan 2016 #44

Nothing about the banking crisis of 2008 was "normal correction behavior in the markets" the U.S. Uncle Joe Jan 2016 #31

The poster was talking about the losses in the markets last week. eom MohRokTah Jan 2016 #37

Your love of Wall Street is impressive in its consistency. Ed Suspicious Jan 2016 #18

This message was self-deleted by its author GummyBearz Jan 2016 #20

This was meant for Moh Ed Suspicious Jan 2016 #21

Got it... that had me pretty confused GummyBearz Jan 2016 #22

Capital investment makes the economic world go 'round. eom MohRokTah Jan 2016 #39

It sure is. nt laundry_queen Jan 2016 #43

Reminds me of Banned from Kos. Octafish Jan 2016 #50

Not a new Problem EdwardBernays Jan 2016 #5

President Clinton and the Chilean Model: Midnight at the House of Good and Evil Octafish Jan 2016 #28

Thanks :) EdwardBernays Jan 2016 #29

Wow, had never seen that dreamnightwind Jan 2016 #34

Bill Clinton at the Pete Peterson Institute speaking with other Democrats and Republicans such as DhhD Jan 2016 #47

K&R abelenkpe Jan 2016 #7

sorry that's just dumb hfojvt Jan 2016 #8

Sure glad you smartened that 'dumb' OP up! elias49 Jan 2016 #10

That's because the debt causers own the government. nt valerief Jan 2016 #11

You win the thread malaise Jan 2016 #14

Would you include US finance leaders like these? appalachiablue Jan 2016 #16

Yep. They support the oligarchy all right. nt valerief Jan 2016 #17

This will go right over the head of dullards. Rex Jan 2016 #15

What do u mean 'will'? It's already "gone over the heads" of some up-string Wall St. butt kissers nt 99th_Monkey Jan 2016 #30

Their are always more willing to join into the grand scam. Rex Jan 2016 #35

I have seen this before some where (FB maybe?) bears repeating. K&R Hiraeth Jan 2016 #19

Look up Two Santa Claus theory Cary Jan 2016 #23

What pisses me off is when I get an email from someone railing about how much congress gets paid.... Spitfire of ATJ Jan 2016 #24

Just saw "The Big Short," which addresses this issue. FairWinds Jan 2016 #25

I saw it yesterday. It's fantastic. Pacifist Patriot Jan 2016 #40

Know Thy Enemy - Oligarchs, Corporations, Banks And Their Media Minions And MIC Henchmen cantbeserious Jan 2016 #26

The last sentence has the key Babel_17 Jan 2016 #27

That is why we never hear this from the corporate media. Enthusiast Jan 2016 #32

Professor Blyth is missing something important denem Jan 2016 #36

K&R for truth. Betty Karlson Jan 2016 #45

I know nothing about how to successfully invest in Wall Street 90-percent Jan 2016 #46

Sounds like a pretty simple explanation The2ndWheel Jan 2016 #48

K&R Ah, Wall St. Where democracy for all went to die. raouldukelives Jan 2016 #49

Does Mr. Moh think . . FairWinds Jan 2016 #51