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PostPosted: Thu Jun 16, 2022 10:41 am 
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The Missing Link wrote:
NWsider4-3-3 wrote:
The Missing Link wrote:
Jbi11s wrote:
Edit: Also #2, his administration let the housing crisis fester and ultimately collapse without regulating the insanely risky loan practices that were happening since Clinton was in office.


Yep. Clinton helped to create the policy but it was Bush that abused it.


clinton didn't help it, he signed the act. he's the one who made it possible for banks to collect interest on many more mortgages/own the property if borrower failed. now goldman can create a market of risky mortgages - just like they did with various nations' debt. cds. that's exactly what the banks (investment and commercial) wanted and they got what they wanted from clinton.

they way the banks 'sold' this to a ho-hum public was that all americans; regardless of financial/credit standing - deserved a chance at the american dream, a home. this is what the think-tanks came up with to explain the repeal of much of glass-steagall. the banks got greedy, lost on this gambit, many of the banks got bailed out for this flirt with unencumbered corporatism.

so, bush abused it how? bush himself comingled peoples' savings money and lent those funds out for risky commercial purposes?


Bush abused it by leveraging banks to give loans to just about anyone that applied for them. That policy exploded under him and so did the issuing of "exotic loans". It was the Bush Administration that strongly encouraged lenders to go the Mortgage Backed Security route with respect to bundling and issuing loans. They didn't care that there were so many "toxic" loans out there because they believed that they would be able to repackage them regardless. They were in essence running a Ponzi scheme only this time it was the mortgage industry which helped to compose the "pyramid". That wasn't on Bill Clinton. That was all on GW.


haha, if bush was CEO of goldman-sachs and cheney CEO of wells fargo...but they weren't. bush conjuring up in 1975 how to comingle grandma jones savings money with buying 5 houses on one block in the inner city. sure he was.

i don't like defending w bush at all - hard not to do when dealing with political tribalism.


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PostPosted: Thu Jun 16, 2022 10:49 am 
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Nardi wrote:
Nas wrote:
good dolphin wrote:
I consider Bush II and Biden similar in terms of their deferring their power to underlings with destructive philosophies. Their sins of omission are at least, if not more damaging than other administration's sins of commission.

I'm almost to the point of being a Bernie guy but I think Bernie always looks good midway through another president's term.

I don't know where the dems will turn for a candidate. They will get slaughtered if Biden or any of the underlings from this administration is the candidate.


All presidents delegate. My reading of your political posts over the past few years tells me that you are more likely to wear a MAGA hat or vote for DeSantis than you are to support Bernie or any uncompromising "progressive". Besides, unlike your college draft predictions, your political predictions have sucked. Counting out Biden isn't smart.

Biden's #1 priority is inflation and his policies are inflationary. He's counted out and knocked out. Put a fork in him.


recent history (50 years) has shown that energy has been the #1 catalyst for inflation spikes and recessions. if printing money is inflationary, we still have $360 billion to pay off the college tuition debt of those who are under an income threshold.

his policies have been absolutely anti-fossil fuel energy. only trump himself, scrutinized the consequences. the media went on about biden being a uniter - whatever that means.


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PostPosted: Thu Jun 16, 2022 11:01 am 
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pittmike wrote:
Father time or Article 24 will know out Scranton Joe.


At his inaugural address Biden should have said he was a one term president. It would have freed him up to completely ignore the extreme spectrum of his party and just relentlessly cut deals with moderate/pragmatic Republicans.

Some president is going to do it at some point, I just thought it might have been Biden.


Intentionally making yourself a lame duck president isn't wise.

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PostPosted: Thu Jun 16, 2022 11:03 am 
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Nas wrote:
Nardi wrote:
Nas wrote:
good dolphin wrote:
I consider Bush II and Biden similar in terms of their deferring their power to underlings with destructive philosophies. Their sins of omission are at least, if not more damaging than other administration's sins of commission.

I'm almost to the point of being a Bernie guy but I think Bernie always looks good midway through another president's term.

I don't know where the dems will turn for a candidate. They will get slaughtered if Biden or any of the underlings from this administration is the candidate.


All presidents delegate. My reading of your political posts over the past few years tells me that you are more likely to wear a MAGA hat or vote for DeSantis than you are to support Bernie or any uncompromising "progressive". Besides, unlike your college draft predictions, your political predictions have sucked. Counting out Biden isn't smart.

Biden's #1 priority is inflation and his policies are inflationary. He's counted out and knocked out. Put a fork in him.


If that's solely it, he didn't stand a chance before taking office. When the Trump administration was running up the annual deficit, printing money in unprecedented ways, and shutting down the economy, MANY knew inflation was coming, and there wasn't anything you could do about it that wasn't going to harm the economy. If I recall correctly, you weren't opposed to the inflation that you saw coming.

I wouldn't count out Scranton Joe. MANY have been proven wrong by doing so.


Prophet Nardi's inflation thoughts:

March 2020

Nardi wrote:
I got a couple high limit credit cards today from two of the major banks.

You know, for just in case inflation goes apeshit in 6 months.

They are the easiest to default on.

That's my investment advice for right now. Sad as that is.



viewtopic.php?f=127&t=110710&p=3387462&hilit=Inflation#p3387462

Nardi wrote:
There's too much history to be made between now and November. Corona probably won't even be much of a story. It might be the 18% unemployment and the 11% inflation rate.

Who knows.


viewtopic.php?f=100&t=120883&p=3398112&hilit=Inflation#p3398112

April 2020

Nardi wrote:
It's going up now. People aren't paying attention because gas is down. Production on everything is down so scarcity plus prices go up. Inflation is self sustaining. It's why it's so scary. Many people weren't even born yet the last time it was a problem. It's why JORR is Mr Bitcoin



viewtopic.php?f=175&t=121298&p=3422807&hilit=Inflation#p3422807

May 2020

Nardi wrote:

Yup, Life is better than ever. Plus, we've kick started inflation. Something that has been dead for 35 years. Yay, us.



viewtopic.php?f=175&t=120379&p=3433847&hilit=Inflation#p3433847

Nardi wrote:
Mortgage delinquencies, unemployment, inflation, interest rates, and the stock market. I'd like to follow the science of economics. I want to follow what the experts say. Can we have an hour by hour unemployment tracker?



viewtopic.php?f=175&t=121665&p=3443315&hilit=Inflation#p3443315

June 2020

Nardi wrote:
Between March and June 2021, inflation becomes a problem. If it snowballs into hyper inflation, it's all over. Gold and bitcoin may not even save you if civilization is in ashes.

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PostPosted: Thu Jun 16, 2022 11:16 am 
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Nas wrote:
good dolphin wrote:
I consider Bush II and Biden similar in terms of their deferring their power to underlings with destructive philosophies. Their sins of omission are at least, if not more damaging than other administration's sins of commission.

I'm almost to the point of being a Bernie guy but I think Bernie always looks good midway through another president's term.

I don't know where the dems will turn for a candidate. They will get slaughtered if Biden or any of the underlings from this administration is the candidate.


All presidents delegate. My reading of your political posts over the past few years tells me that you are more likely to wear a MAGA hat or vote for DeSantis than you are to support Bernie or any uncompromising "progressive". Besides, unlike your college draft predictions, your political predictions have sucked. Counting out Biden isn't smart.


Someone else here called me a lefty the other day.

I don't want an uncompromising politician on either side. Effective politics is compromise. You specifically voted for a centrist so you feel the same way.

by the way, you are in the same boat as I on several positions and you already have your MAGA hat

I have held the same positions and they used to be left, then centrist and now they seem to be interpreted as right.

Everyone's political predictions suck. 538 was a king one day and a bum the next.

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PostPosted: Thu Jun 16, 2022 1:56 pm 
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Nas wrote:
Nas wrote:
Nardi wrote:
Nas wrote:
good dolphin wrote:
I consider Bush II and Biden similar in terms of their deferring their power to underlings with destructive philosophies. Their sins of omission are at least, if not more damaging than other administration's sins of commission.

I'm almost to the point of being a Bernie guy but I think Bernie always looks good midway through another president's term.

I don't know where the dems will turn for a candidate. They will get slaughtered if Biden or any of the underlings from this administration is the candidate.


All presidents delegate. My reading of your political posts over the past few years tells me that you are more likely to wear a MAGA hat or vote for DeSantis than you are to support Bernie or any uncompromising "progressive". Besides, unlike your college draft predictions, your political predictions have sucked. Counting out Biden isn't smart.

Biden's #1 priority is inflation and his policies are inflationary. He's counted out and knocked out. Put a fork in him.


If that's solely it, he didn't stand a chance before taking office. When the Trump administration was running up the annual deficit, printing money in unprecedented ways, and shutting down the economy, MANY knew inflation was coming, and there wasn't anything you could do about it that wasn't going to harm the economy. If I recall correctly, you weren't opposed to the inflation that you saw coming.

I wouldn't count out Scranton Joe. MANY have been proven wrong by doing so.


Prophet Nardi's inflation thoughts:

March 2020

Nardi wrote:
I got a couple high limit credit cards today from two of the major banks.

You know, for just in case inflation goes apeshit in 6 months.

They are the easiest to default on.

That's my investment advice for right now. Sad as that is.



http://chicagofanatics.com/viewtopic.ph ... n#p3387462

Nardi wrote:
There's too much history to be made between now and November. Corona probably won't even be much of a story. It might be the 18% unemployment and the 11% inflation rate.

Who knows.


http://chicagofanatics.com/viewtopic.ph ... n#p3398112

April 2020

Nardi wrote:
It's going up now. People aren't paying attention because gas is down. Production on everything is down so scarcity plus prices go up. Inflation is self sustaining. It's why it's so scary. Many people weren't even born yet the last time it was a problem. It's why JORR is Mr Bitcoin



http://chicagofanatics.com/viewtopic.ph ... n#p3422807

May 2020

Nardi wrote:

Yup, Life is better than ever. Plus, we've kick started inflation. Something that has been dead for 35 years. Yay, us.



http://chicagofanatics.com/viewtopic.ph ... n#p3433847

Nardi wrote:
Mortgage delinquencies, unemployment, inflation, interest rates, and the stock market. I'd like to follow the science of economics. I want to follow what the experts say. Can we have an hour by hour unemployment tracker?
I've said worse. I figured we'd be toast 6 months after lockdown. It doesn't change the fact that the policies ongoing are still inflationary and that Biden is toast.


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PostPosted: Thu Jun 16, 2022 2:00 pm 
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Nardi wrote:
I've said worse. I figured we'd be toast 6 months after lockdown. It doesn't change the fact that the policies ongoing are still inflationary and that Biden is toast.

What if I told you people were generally supportive of a partnership between big business, tech and government to fortify any election in Biden’s favor. And that they’ll do it openly and boast about it after the fact.

Would that change your opinion on whether the incompetent old man is toast?

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PostPosted: Thu Jun 16, 2022 2:42 pm 
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Nardi wrote:
Nas wrote:
Nas wrote:
Nardi wrote:
Nas wrote:
good dolphin wrote:
I consider Bush II and Biden similar in terms of their deferring their power to underlings with destructive philosophies. Their sins of omission are at least, if not more damaging than other administration's sins of commission.

I'm almost to the point of being a Bernie guy but I think Bernie always looks good midway through another president's term.

I don't know where the dems will turn for a candidate. They will get slaughtered if Biden or any of the underlings from this administration is the candidate.


All presidents delegate. My reading of your political posts over the past few years tells me that you are more likely to wear a MAGA hat or vote for DeSantis than you are to support Bernie or any uncompromising "progressive". Besides, unlike your college draft predictions, your political predictions have sucked. Counting out Biden isn't smart.

Biden's #1 priority is inflation and his policies are inflationary. He's counted out and knocked out. Put a fork in him.


If that's solely it, he didn't stand a chance before taking office. When the Trump administration was running up the annual deficit, printing money in unprecedented ways, and shutting down the economy, MANY knew inflation was coming, and there wasn't anything you could do about it that wasn't going to harm the economy. If I recall correctly, you weren't opposed to the inflation that you saw coming.

I wouldn't count out Scranton Joe. MANY have been proven wrong by doing so.


Prophet Nardi's inflation thoughts:

March 2020

Nardi wrote:
I got a couple high limit credit cards today from two of the major banks.

You know, for just in case inflation goes apeshit in 6 months.

They are the easiest to default on.

That's my investment advice for right now. Sad as that is.



viewtopic.php?f=127&t=110710&p=3387462&hilit=Inflation#p3387462

Nardi wrote:
There's too much history to be made between now and November. Corona probably won't even be much of a story. It might be the 18% unemployment and the 11% inflation rate.

Who knows.


viewtopic.php?f=100&t=120883&p=3398112&hilit=Inflation#p3398112

April 2020

Nardi wrote:
It's going up now. People aren't paying attention because gas is down. Production on everything is down so scarcity plus prices go up. Inflation is self sustaining. It's why it's so scary. Many people weren't even born yet the last time it was a problem. It's why JORR is Mr Bitcoin



viewtopic.php?f=175&t=121298&p=3422807&hilit=Inflation#p3422807

May 2020

Nardi wrote:

Yup, Life is better than ever. Plus, we've kick started inflation. Something that has been dead for 35 years. Yay, us.



viewtopic.php?f=175&t=120379&p=3433847&hilit=Inflation#p3433847

Nardi wrote:
Mortgage delinquencies, unemployment, inflation, interest rates, and the stock market. I'd like to follow the science of economics. I want to follow what the experts say. Can we have an hour by hour unemployment tracker?
I've said worse. I figured we'd be toast 6 months after lockdown. It doesn't change the fact that the policies ongoing are still inflationary and that Biden is toast.


The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high. All things that are helpful to slowing and reducing inflation.

You and MANY are pretending as if Biden caused the inflation that we're experiencing. Despite accurately predicting the economic conditions we would experience because of the lockdowns and the money printing that went on during the previous administration. Why? Politics.

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Last edited by Nas on Thu Jun 16, 2022 2:47 pm, edited 1 time in total.

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PostPosted: Thu Jun 16, 2022 2:46 pm 
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Nas wrote:
The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high.

Everything is great! Thanks, Joe!

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PostPosted: Thu Jun 16, 2022 2:50 pm 
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Nas wrote:
The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high.

:lol: :lol: :lol:
Oh, Nas!

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PostPosted: Thu Jun 16, 2022 2:52 pm 
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Darkside wrote:
Nas wrote:
The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high.

Everything is great! Thanks, Joe!

Image

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PostPosted: Thu Jun 16, 2022 2:56 pm 
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Nas wrote:
The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high. All things that are helpful to slowing and reducing inflation.


Nobody can afford gas, groceries, and nobody can find baby formula. Let's talk about January 6th.

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PostPosted: Thu Jun 16, 2022 2:58 pm 
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BigW72 wrote:
Nas wrote:
The annual budget deficit has significantly declined, interest rates are going up, our trade deficit has declined, the unemployment rate has nearly been cut in half, no more lockdowns, tax receipts are up, and the average worker's wage is at an all time high.

:lol: :lol: :lol:
Oh, Nas!


Well, all of those things are accurate. I'm aware that how we feel matters more. Paying $8 for a gallon of gas doesn't feel good. Neither does grocery store shelves being empty since March of 2020. Getting production back to January of 2020 levels is still a struggle and far more of an issue than inflation. People not wanting to work for nearly 2 years because of Trump's unemployment pay and price gouging are responsible.

The overall point is MANY accurately predicted the inflation and other economic pain that some are experiencing MONTHS before the 2020 elections. Now, they're saying these things are solely because of Biden's policies.

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PostPosted: Thu Jun 16, 2022 4:26 pm 
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Nas wrote:
One Post wrote:
pittmike wrote:
Father time or Article 24 will know out Scranton Joe.


At his inaugural address Biden should have said he was a one term president. It would have freed him up to completely ignore the extreme spectrum of his party and just relentlessly cut deals with moderate/pragmatic Republicans.

Some president is going to do it at some point, I just thought it might have been Biden.


Intentionally making yourself a lame duck president isn't wise.


Why would any president run for a second term?


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PostPosted: Thu Jun 16, 2022 4:41 pm 
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One Post wrote:
Nas wrote:
One Post wrote:
pittmike wrote:
Father time or Article 24 will know out Scranton Joe.


At his inaugural address Biden should have said he was a one term president. It would have freed him up to completely ignore the extreme spectrum of his party and just relentlessly cut deals with moderate/pragmatic Republicans.

Some president is going to do it at some point, I just thought it might have been Biden.


Intentionally making yourself a lame duck president isn't wise.


Why would any president run for a second term?


Why would any sane person want the job? Being in the history books? Having free armed security? Having millions of people hate you? Free government housing?

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PostPosted: Thu Jun 16, 2022 8:26 pm 
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Nas wrote:
One Post wrote:
Nas wrote:
One Post wrote:
pittmike wrote:
Father time or Article 24 will know out Scranton Joe.


At his inaugural address Biden should have said he was a one term president. It would have freed him up to completely ignore the extreme spectrum of his party and just relentlessly cut deals with moderate/pragmatic Republicans.

Some president is going to do it at some point, I just thought it might have been Biden.


Intentionally making yourself a lame duck president isn't wise.


Why would any president run for a second term?


Why would any sane person want the job? Being in the history books? Having free armed security? Having millions of people hate you? Free government housing?

Bears Head Coach?

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PostPosted: Thu Jun 16, 2022 8:28 pm 
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Hawg Ass wrote:
Nas wrote:
One Post wrote:
Nas wrote:
One Post wrote:
pittmike wrote:
Father time or Article 24 will know out Scranton Joe.


At his inaugural address Biden should have said he was a one term president. It would have freed him up to completely ignore the extreme spectrum of his party and just relentlessly cut deals with moderate/pragmatic Republicans.

Some president is going to do it at some point, I just thought it might have been Biden.


Intentionally making yourself a lame duck president isn't wise.


Why would any president run for a second term?


Why would any sane person want the job? Being in the history books? Having free armed security? Having millions of people hate you? Free government housing?

Bears Head Coach?


Sign me up!

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PostPosted: Thu Jun 16, 2022 8:32 pm 
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Can't hire current employees.

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PostPosted: Thu Jun 16, 2022 8:33 pm 
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The economy is fucked. Your 401k is fucked.

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PostPosted: Thu Jun 16, 2022 8:35 pm 
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SpiralStairs wrote:
The economy is fucked. Your 401k is fucked.

What assets are you selling first?

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PostPosted: Thu Jun 16, 2022 8:41 pm 
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Hawg Ass wrote:
SpiralStairs wrote:
The economy is fucked. Your 401k is fucked.

What assets are you selling first?

Image

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PostPosted: Thu Jun 16, 2022 9:02 pm 
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PostPosted: Fri Jun 17, 2022 8:16 am 
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I don't think I gave sufficient pushback to Nas saying my recent posting history is indicative of MAGA.

I strongly object.

Yeah, I said it.

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PostPosted: Fri Jun 17, 2022 8:22 am 
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Best thing you can do right now is close out your entire portfolio and wait for the jeans to explode. The bottom will only last a month or two and then steadily climb to ATH in a couple years.

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PostPosted: Fri Jun 17, 2022 9:16 am 
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Nas wrote:
good dolphin wrote:
Spaulding wrote:
I don't know. The country was pretty unified after 9/11, President unifier is not at all unifier. GW never tried to make me or anybody else go get a shot we don't want and afaik didn't want to take guns away from people. What Biden did in Afghanistan is probably as bad as Iraq, we'll see how Ukraine plays out. Food didn't cost a billion dollars, my grocery shelves were stocked, there was formula available to feed my kids, people could express opinions without a disinformation board deciding if that was okay, we could acknowledge there were men and women and there were differences between them, gas was not $6 and the green new deal was not a thing.

I don't know what the next 5 years will hold but I don't think it's good. It could literally be a total collapse of society. Money might be completely worthless. And this administration is telling me I'm just not getting the message. The economy is great, so many jobs, and whatever else they put out. I've never felt like this.


are you daft?

2008 was an existential crises for almost all of us. Older people had no ability to recover their retirement. It was our Great Depression and I think it has affected our habits to this day.

and we are still living in a post 9/11 world

You can make an argument the Bush II administration has had the most lasting impact on this country since FDR or Kennedy/Johnson.


Not only that but merely questioning the president while we were in war was deemed unpatriotic.

You wouldn't think it would be possible, but MANY forget how big of a financial crisis the world and country faced in 2008. As you correctly pointed out, that was our depression.

"We see it as a patriotic duty," White House Secretary Press Secretary Karine Jean-Pierre said during a Wednesday press conference. "We are calling on them to do the right thing, to be patriots here, and not use the war as an excuse" to price gouge. 

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Many that is true, but an incomplete statement.


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PostPosted: Fri Jun 17, 2022 12:58 pm 
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I made the mistake of checking my 401(k) accounts.....woof.

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This Ends in Antioch wrote:
brick (/brik/) verb
1. block or enclose with a wall of bricks
2. Proper response would be to ask an endless series of follow ups until the person regrets having spoken to you in the first place.


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PostPosted: Fri Jun 17, 2022 12:59 pm 
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BigW72 wrote:
I made the mistake of checking my 401(k) accounts.....woof.

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PostPosted: Fri Jun 17, 2022 1:07 pm 
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Darkside wrote:
Nas wrote:
good dolphin wrote:
Spaulding wrote:
I don't know. The country was pretty unified after 9/11, President unifier is not at all unifier. GW never tried to make me or anybody else go get a shot we don't want and afaik didn't want to take guns away from people. What Biden did in Afghanistan is probably as bad as Iraq, we'll see how Ukraine plays out. Food didn't cost a billion dollars, my grocery shelves were stocked, there was formula available to feed my kids, people could express opinions without a disinformation board deciding if that was okay, we could acknowledge there were men and women and there were differences between them, gas was not $6 and the green new deal was not a thing.

I don't know what the next 5 years will hold but I don't think it's good. It could literally be a total collapse of society. Money might be completely worthless. And this administration is telling me I'm just not getting the message. The economy is great, so many jobs, and whatever else they put out. I've never felt like this.


are you daft?

2008 was an existential crises for almost all of us. Older people had no ability to recover their retirement. It was our Great Depression and I think it has affected our habits to this day.

and we are still living in a post 9/11 world

You can make an argument the Bush II administration has had the most lasting impact on this country since FDR or Kennedy/Johnson.


Not only that but merely questioning the president while we were in war was deemed unpatriotic.

You wouldn't think it would be possible, but MANY forget how big of a financial crisis the world and country faced in 2008. As you correctly pointed out, that was our depression.

"We see it as a patriotic duty," White House Secretary Press Secretary Karine Jean-Pierre said during a Wednesday press conference. "We are calling on them to do the right thing, to be patriots here, and not use the war as an excuse" to price gouge. 


How can anyone believe that others recall what happened in 2008 when people who lived through it do not even recall Trump asking the Saudis to stop pumping oil, and producers were basically paying people to take their oil, when demand cratered during the pandemic?


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PostPosted: Fri Jun 17, 2022 1:19 pm 
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Caller Bob wrote:
BigW72 wrote:
I made the mistake of checking my 401(k) accounts.....woof.

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like it or not, all of us are...
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_________________
This Ends in Antioch wrote:
brick (/brik/) verb
1. block or enclose with a wall of bricks
2. Proper response would be to ask an endless series of follow ups until the person regrets having spoken to you in the first place.


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PostPosted: Thu Jun 23, 2022 10:04 am 
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