SoldiersMum wrote:

Igmond50 wrote:The middle class has had the political power of it wealth steadily worn away through degregulation and the over easy access to money resident in its base of wealth that being home equity. Unrestrained easy credit with crazy fees, enormous interest rates and a buy now pay later mentality is killing us. We have Reagan and his ilk to thank for this as his example of borrow now pay later spread like wild fire through the population. He gave permission to spend wildly to a population lacking the education necessary to understand the ramifications. This gave Bush II one of his "foot soldiers" the balls to tell us all to go shopping after 9/11. And we did! Can you imagine such "leadership" in  the context of an earlier era? He'd have been run out on a rail. Very sad...and simply evil in its construct and purpose. There's nothing  the least bit conservative in any of it!

The mortgage problem of today is caused by BJ Clinton's forcing the mortgage companies to hand out loans to unqualified people under threats of being labeled racist.  Did some of them go overboard?  Yes, of course they did.  But a larger problem is that a bunch of people took out loans they knew they would eventually not be able to pay.  

It doesn't take a degree in economics to get the fact that you do not go out and purchase something you know you will not be able to pay for in the future when your loan interest balloons so your argument about those poor people who lack the education necessary to understand the ramifications does not hold water.  Lack of Personal responsibility, Iggie, is the primary reason.

The economy after 9/11 was in a dither.  Bush said get on with your lives and get back to normal.  Do not let the terrorists win.    Bush never said "hey everyone, go out and buy things you can't afford and won't be able to pay for."  The fact is people did resume their lives and went back to buying and the economy got back on track.  

The topic is Capping Gas Profits..not interest rates, not buying, not mortgages, not how horrible Reagan or Bush II were/are.  Please get back on topic people.

Igmond50 wrote:

SoldiersMum wrote:

Igmond50 wrote:The middle class has had the political power of it wealth steadily worn away through degregulation and the over easy access to money resident in its base of wealth that being home equity. Unrestrained easy credit with crazy fees, enormous interest rates and a buy now pay later mentality is killing us. We have Reagan and his ilk to thank for this as his example of borrow now pay later spread like wild fire through the population. He gave permission to spend wildly to a population lacking the education necessary to understand the ramifications. This gave Bush II one of his "foot soldiers" the balls to tell us all to go shopping after 9/11. And we did! Can you imagine such "leadership" in  the context of an earlier era? He'd have been run out on a rail. Very sad...and simply evil in its construct and purpose. There's nothing  the least bit conservative in any of it!

The mortgage problem of today is caused by BJ Clinton's forcing the mortgage companies to hand out loans to unqualified people under threats of being labeled racist.  Did some of them go overboard?  Yes, of course they did.  But a larger problem is that a bunch of people took out loans they knew they would eventually not be able to pay.  

It doesn't take a degree in economics to get the fact that you do not go out and purchase something you know you will not be able to pay for in the future when your loan interest balloons so your argument about those poor people who lack the education necessary to understand the ramifications does not hold water.  Lack of Personal responsibility, Iggie, is the primary reason.

The economy after 9/11 was in a dither.  Bush said get on with your lives and get back to normal.  Do not let the terrorists win.    Bush never said "hey everyone, go out and buy things you can't afford and won't be able to pay for."  The fact is people did resume their lives and went back to buying and the economy got back on track.  

The topic is Capping Gas Profits..not interest rates, not buying, not mortgages, not how horrible Reagan or Bush II were/are.  Please get back on topic people.

Hey Mum: I find it interesting how you respond to a comment I have made and then tell me that it shouldn't be made on this thread and then instruct me (and others) to get back on topic. Nice way of having your cake and eating it too. You should be a politician or a call screener.

Achmed wrote:I think oil companys should be made to build refinerys so they don't ship the oil overseas to be made into gas.

And why did those stupid lenders make those stupid loans to high risk people anyway?