More lies from Romney

[Vertnut]

He's not my messiah. And i never said i cared for the way he runs the country either. Hell, i never even said i voted for the guy. I just started posting because of all the negative posts in this forum about the potus, did some homework on these topics and found that the majority of them were a tad bit askew if not, completely off or false.

Here's something you can study on: Going into effect on January 1, 2013, are 20 or more new/increased taxes involving your hero Barry, here are the top 5- 1)$20 billion NEW tax on medical device businesses. They must pay 2.3% on all GROSS sales, whether you're profitable or not. 2) $13 billion "special needs kids tax". 3) $123 billion ObamaCare Surtax on investment income. 4) $15.2 billion on medical accounts and will affect those with marginal incomes and high medical bills the most. 5) $86.8 billion Medicare payroll increase.

[Jimbo]

He's not my messiah. And i never said i cared for the way he runs the country either. Hell, i never even said i voted for the guy. I just started posting because of all the negative posts in this forum about the potus, did some homework on these topics and found that the majority of them were a tad bit askew if not, completely off or false.

Then argue these falsehoods, and stop being a nut hugger. Your view of these candidates is screwed. Right now all you are doing is looking at a murderer and an annoying guy and deciding to attack the annoying guy. Prove the murderer isn't guilty and then I'll worry about your opinion of the annoying guy.

[CJ]

That shines some light. Like said above, the fed, backed by the Congress and the Pres, are committing fraud on the people of the UD. Fuck them

Just focus on those bold words in that quote from the fed and their ambition, and remember that's $40 billion of our dollars and that is what they spent it on, those bold words.

[Dlachance]

That shines some light. Like said above, the fed, backed by the Congress and the Pres, are committing fraud on the people of the UD. Fuck them

[CJ]

I believe I am not following. So, borrowing $40B a month to purchase shitty investments is keeping the rates low? Im not being a smartass, just curious.

It frees the lenders up so they do not have as many losses. Rates increase due to many factors, one of which is expenses on servicing those loans, and also the amount you're extended on your line of credit. US buys up a bunch of mortgage loans, banks are freed up. Essentially the end result is the lenders will continue to buy loans the same way, without adjusting their rates. This will cause their portfolio to grow again with unstable and less profitable mortgages - further lengthening the depression in the housing market.

Here's a quote from Gus Faucher - senior economist explaining the same thing, essentially:

"The new Fed policy suggests that a housing market recovery is key to stimulating labor markets and eventually spurring a full-fledged recovery, Faucher explained. By keeping mortgage rates low -- and possibly pushing them even lower -- through Fed purchases it will hopefully give the fledgling housing recovery some much-needed momentum."

It's all Political. This is QE3, the last two stimulus QE1 and QE2 didn't do anything at all besides waste billions. Anytime the government intervenes in the private industry it's artificial and very dangerous. This is yet again government intervention into the private market to force artificial rates to give voters the impression the economy is not getting any worse. The end result will be detrimental to the economy. This is all fake. The market is not correcting itself, it's being stimulated. The truth is all proponents of QE3 and Obama have one thing in common, they don't understand the economy.

[Dlachance]

It's purpose is to keep mortgage rates low, in effect to stimulate home ownership and buying.

I believe I am not following. So, borrowing $40B a month to purchase shitty investments is keeping the rates low? Im not being a smartass, just curious.

[CJ]

Well it is obvious that Bernanke and Obama are in bed. I'm wondering what Bernanke's stake is, other than keeping his position. Romney already stated that Bernanke need to hit the road.

I have to disagree with you about proping up the housing market. Nothing they have done has propped up new home sales. The real money in real estate right now IMO is rental properties and is about to be property management. Who do you think is going to be looking after $40b in properties, additional, per month?

It's purpose is to keep mortgage rates low, in effect to stimulate home ownership and buying.

[A+]

Don't agree with him, A+, his IP address is a direct match for Joe Biden's Twitter account.

Lol. Damn, why couldn't McCain just have given it another try....and leave Palin behind of course. I liked him.

[Dlachance]

The fed is a group of privately owned banks which at the top is a board of 7 directors which are appointed by the President. Naturally their terms can run nonconsecutive of their appointing administrations, but the fact that Obama has appointed members is a little bit deceptive to say he has no influence over them. The reason the fed is buying mortgages is to prop up the housing industry, it's a political movement for his reelection, plain as day. From a business standpoint this is absolutely stupid, it makes no business sense at all. The gain from this is political.

Well it is obvious that Bernanke and Obama are in bed. I'm wondering what Bernanke's stake is, other than keeping his position. Romney already stated that Bernanke need to hit the road.

I have to disagree with you about proping up the housing market. Nothing they have done has propped up new home sales. The real money in real estate right now IMO is rental properties and is about to be property management. Who do you think is going to be looking after $40b in properties, additional, per month? I was making $2600ish per month in addtl. income, while detaling, doing bpo's. There are still sooooo many underwater properties and foreclosures.

[slow99]

Lmfao at this.

[CJ]

The fed is a group of privately owned banks which at the top is a board of 7 directors which are appointed by the President. Naturally their terms can run nonconsecutive of their appointing administrations, but the fact that Obama has appointed members is a little bit deceptive to say he has no influence over them. The reason the fed is buying mortgages is to prop up the housing industry, it's a political movement for his reelection, plain as day. From a business standpoint this is absolutely stupid, it makes no business sense at all. The gain from this is political.

[Dlachance]

I just figued I'd post this for the lulz and to add a little diversity to the forum...

The Romney campaign crams two howling falsehoods into a very few words:

It accuses President Obama of being personally responsible for actions by the Federal Reserve Board, which is independent.

It claims Obama is “spending your tax dollars” in the Fed’s latest move to buy mortgage-backed securities, when in fact the Fed is turning a big profit for the Treasury, reducing the deficit.

..free post...

A+ --- Answer to this, please, if you can.

Buying these mortgages is one of the worst things they can be doing right. They are pumping $40billion dollars a MONTH into this with nothing to show for it. More and more, they are devaluing our currency. The fed will not be turning a big profit, retard, they are giving money to big banks.

Ben Bernanke and Obama are bankrupting the US. Spending $3.6 trillion and only taking in $2.4 trillion leaves a $1.2T deficit. That is the same exact thing as you making $24,000 a year and at the same time spending $36,000 in the same fiscal year; unsustainable. If the money was being spent on something that could eventually generate money, then it may not be a bad thing. We know that the money being spent is not on good investment, so in essence, we are pissing away a couple trillion per year.

US total taxable income is $9.6T in a year. Taxable income would have to increase by 50% in order To bring in enough taxes at a 25% avg. tax rate in order to pay our current bills. It takes about 12 years in the US historically to be able to increase income by 50%.


SO YES, THEY ARE BANKRUPTING THE US, FRAUDSTERS!

[CJ]

lol fed turning a profit.

[DON SVO]

EXACTLY! Sheesh!

Don't agree with him, A+, his IP address is a direct match for Joe Biden's Twitter account.

[Forever_frost]

Glad to see someone else is starting to get it and come around. I went from being conservative without realizing I was actually more liberal. I came to a conclusion that at one time both sides are bad, which is true in a general sense, but in actuality the republican side is much worse. I started to question the validity of a few things and realized that all the facts spewed by extreme right wingers are the most biased ever. This political forum is no exception. I can bet you none of them listened to both conventions. I did to get a feel for both sides. Their absolute hate for the democratic side and Obama specifically, keeps them from seeing any sort of positive thing done by his administration. They actually believe that the 47% are all black people standing in the welfare line gaming the system. Forget about the elderly or low income earners and the disabled. Screw grandma.

http://www.npr.org/blogs/money/2012/09/18/161337343/the-47-percent-in-one-graphic

NPR and factcheck.org are pretty good neutral sites. Although ones on here will say they have a liberal bias. Anything that is not drudge, fox, freereplic or some other fringe site is liberal media.

For a good chuckle every now and then, another site (it does have a liberal bias) is http://www.fark.com/politics/ go to the comments section of any article and click funniest. There is some good stuff in there.

Interesting that ovary here tries to pull the race card. I can't wait to see Colonel West run. THEN you'll see how a patriotic man does shit. And remember, you can't criticize him because it's racist.
They are in for a rude awakening come November.
A good site to see how the election will pan out is http://fivethirtyeight.blogs.nytimes.com/

It's like they all live in an echo chamber and refuse to accept anything not from a fringe site as fact.
I honestly believe that if they continue to go down this road with this kind of thinking, the republican party will eventually be one old white guy looking into his mirror and yelling "liberal".

NPR and factcheck is neutral? Really? NPR is government paid radio and they don't cover 3/4 of the shit Obama does and factcheck only 'checks' things that aren't that bad