Obama

[Poitier]

Uh, QE is Fed monetary policy, not legislative policy from Obama. And even if Obama didn't re-nominate Big Shalom, whoever was in charge of the Fed would've continued QE because it was the sensible thing to do to avoid massive deflationary spiral and a Great Depression 2.0 scenario.

Fam, QE was not "sensible" nor did it avert the bubble we are still sitting on. The QE was misdirected into the wrong hands, specifically the rich crooks, instead of the consumer class and that was a decision by Obama and people he surrounded himself with.

 

[Tate]

Obama is a neoliberal. He's been a neoliberal. This is what his ideology leads to.

He was never some redistributive leftist. Hell his big socialist tax plan was to raise the top marginal rate 3%.

When he denied being a Marxist and praised capitalism and the free market he wasn't lying.

 

[Poitier]

learn to read a graph

Still think you're going to turn into a robot to escape the fact that you're an idiot and virgin?

 

[Poitier]

Nobody here is arguing for corporatism but rather that its more complex then one fukking guy

Also I pointed out we've seen similar

I'm not saying its just Obama but the other contributors are affiliates. Yes, there was a disparity trending but Obama literally brought us to a point of no return (negative interest rates).

 

[neph27]

I'm not saying its just Obama but the other contributors are affiliates. Yes, there was a disparity trending but Obama literally brought us to a point of no return (negative interest rates).

yeah I dont fukk with where we're at at all and that's why I'm #sandersset

 

[tmonster]

Still think you're going to turn into a robot to escape the fact that you're an idiot and virgin?

ouch...you got me good

 

[Dusty Bake Activate]

Fam, QE was not "sensible" nor did it avert the bubble we are still sitting on. The QE was misdirected into the wrong hands, specifically the rich crooks, instead of the consumer class and that was a decision by Obama and people he surrounded himself with.

It absolutely was the best thing to do given the circumstances. It wasn't supposed to avert any bubble. It was supposed to keep the economy from going into a deflationary spiral like Japan in the 90's or the Great Depression and that's what it did, along with the stimulus and TARP (which was fukked up, but that's another conversation).

Unless you're someone who holds allegiance to untested macroeconomic theories, or those not supported by empirical evidence, when aggregate demand plummets as it did was going to continue to in 07-08, you get ahead of the problem by monetary stimulus as well as fiscal stimulus. That's what we did, and it worked, at least in terms of avoiding disaster.

Am I happy about 93% of the economic gains going to the top 1%? No. But > prolonged high double digit unemployment and shytty GDP growth.

 

[Poitier]

It absolutely was the best thing to do given the circumstances.

I'm of the persuasion that most of that stimulus should have went to the consumer class. These too large to fail banks and tech companies should have been broken up for competition, as well.

Brilliant economist like Amartya Sen and Umair Haque are of the same persuasion, as well as brilliant thinkers like Ian Welsh.

I will say that this isn't just an Obama and American problem since Asian and Eurozone countries engaged in this same stupid fukkery that now has us with no room to maneuver.

 

[Dusty Bake Activate]

I'm of the persuasion that most of that stimulus should have went to the consumer class. These too large to fail banks and tech companies should have been broken up for competition, as well.

Brilliant economist like Amartya Sen and Umair Haque are of the same persuasion, as well as brilliant thinkers like Ian Welsh.

I will say that this isn't just an Obama and American problem since Asian and Eurozone countries engaged in this same stupid fukkery that now has us with no room to maneuver.

I agree with the bolded. I don't know about tech companies being broken up. Banks, definitely.

 

[Red Shield]

I'm of the persuasion that most of that stimulus should have went to the consumer class. These too large to fail banks and tech companies should have been broken up for competition, as well.

Brilliant economist like Amartya Sen and Umair Haque are of the same persuasion, as well as brilliant thinkers like Ian Welsh.

I will say that this isn't just an Obama and American problem since Asian and Eurozone countries engaged in this same stupid fukkery that now has us with no room to maneuver.

Yeah and bankers should have been jailed/executed. That shyt didn't happen tho and the can got kicked

 

[FAH1223]

Would you use this argument for every preceding President?

Yes breh
During the depression years the working class were up in arms. Millions and millions were unionized and organized; America was almost close to a real revolution not the old fake one by the rich that occurred during the 1700s. During FDR's presidency, FDR met the American Ruling class to avert a revolution (remember in the 1930's socialism was very popular in America). FDR gave the rich a few choices; either the masses with pitch forks will raid their wealth and property or they have to accept 91% taxes and they have to pay for his massive rebuilding programs. The rich conceded, one rich man said “91% is at least better than 100% taxes".

Now from the 1930s till the 1970s, the average American (working white middle class) made the greatest wealth and won the greatest concessions from the Ruling Class in wages, unions, health care, low unemployment, insurance, and pensions not because the Rich gave it to them out of mercy.. No, because the working and middle classes were strong, well organized and basically run both parties (The Democratic Party (working class party) and even the Republican Party was Center-leftist party during those years). For over 40 years, the rich ruling classes of America were losing to the tide of the working class, not only in America but also in much of Europe.

 

[Poitier]

Yes breh
During the depression years the working class were up in arms. Millions and millions were unionized and organized; America was almost close to a real revolution not the old fake one by the rich that occurred during the 1700s. During FDR's presidency, FDR met the American Ruling class to avert a revolution (remember in the 1930's socialism was very popular in America). FDR gave the rich a few choices; either the masses with pitch forks will raid their wealth and property or they have to accept 91% taxes and they have to pay for his massive rebuilding programs. The rich conceded, one rich man said “91% is at least better than 100% taxes".

Now from the 1930s till the 1970s, the average American (working white middle class) made the greatest wealth and won the greatest concessions from the Ruling Class in wages, unions, health care, low unemployment, insurance, and pensions not because the Rich gave it to them out of mercy.. No, because the working and middle classes were strong, well organized and basically run both parties (The Democratic Party (working class party) and even the Republican Party was Center-leftist party during those years). For over 40 years, the rich ruling classes of America were losing to the tide of the working class, not only in America but also in much of Europe.

I know.

Just make sure we are being consistent.

 

[Paper Boi]

read capital in the 21st century brehs

 

[Robbie3000]

I'm of the persuasion that most of that stimulus should have went to the consumer class. These too large to fail banks and tech companies should have been broken up for competition, as well.

Brilliant economist like Amartya Sen and Umair Haque are of the same persuasion, as well as brilliant thinkers like Ian Welsh.

I will say that this isn't just an Obama and American problem since Asian and Eurozone countries engaged in this same stupid fukkery that now has us with no room to maneuver.

Why would you punish the tech firms for what the banks did? Tech is one of our better performing sectors. Tech actually builds things and adds value while employing large numbers of people who are paid very well compared to the general public.

 

[Robbie3000]

Yes breh
During the depression years the working class were up in arms. Millions and millions were unionized and organized; America was almost close to a real revolution not the old fake one by the rich that occurred during the 1700s. During FDR's presidency, FDR met the American Ruling class to avert a revolution (remember in the 1930's socialism was very popular in America). FDR gave the rich a few choices; either the masses with pitch forks will raid their wealth and property or they have to accept 91% taxes and they have to pay for his massive rebuilding programs. The rich conceded, one rich man said “91% is at least better than 100% taxes".

Now from the 1930s till the 1970s, the average American (working white middle class) made the greatest wealth and won the greatest concessions from the Ruling Class in wages, unions, health care, low unemployment, insurance, and pensions not because the Rich gave it to them out of mercy.. No, because the working and middle classes were strong, well organized and basically run both parties (The Democratic Party (working class party) and even the Republican Party was Center-leftist party during those years). For over 40 years, the rich ruling classes of America were losing to the tide of the working class, not only in America but also in much of Europe.

Then came the unholy alliance of big business, social conservatives and southern working class whites.

shyt hasn't been the same since.