WELL, THE FINAL AWAKING HAS FINALLY STARTED ARRIVING TO THE CONSERVATIVE CARTOONIST! GEE, I WONDER WHY OUR WEALTH HAS DISSAPEARED? KEEP BOWING DOWN THE THE TEA PARTY, REPUBLICANS, SPECIAL INTEREST, AND WALL STREET AND YOU MAY HAVE A SIMILAR REVELATION WHEN IT’S ALL GONE FOR PEOPLE LIKE YOU IN THE MIDDLE CLASS.
Most of that wealth were paper assets resulting from the unrealistic and unsustainable increase in house prices. Family wealth is returning to a more realistic valuation.
The value did not disappear, it went straight into the pockets of the 1%, who now own 40% of the wealth of our nation. It could not have been down without those regressive tax policies which both parties are guilty of voting for.
49% don’t pay taxes because they are making too little to survive on the left overs. You can’t get blood out of a stone. Maybe you can get the 1% to cough up a few more shekels instead of stashing their money in the Cayman’s. After all, it was this country that made them filthy rich, maybe they can help us out of our debt now that they have sucked us dry. I am sure those people working for minimum wage would be tickled to be making enough to pay taxes. Just raise their wages! You can’t have it both ways.
Yes, because:“In fact, the GSEs loansperformed far better than loans securitized by private investment banks, and GSE loans performed better than someloans originated by institutions that held loans in their own portfolios.”
“Some long-time critics of government and the GSEs, like American Enterprise Institute fellow Peter J. Wallison,36claim that the roots of the crisis can be traced directly to risky lending by government sponsored entities Fannie Maeand Freddie Mac. Although Wallison’s claims have received widespread attention in the media and by policy makers,the majority report of the Financial Crisis Inquiry Commission, several studies by Federal Reserve economists, andthe work of independent scholars suggest that Wallison’s claims are not supported by data.”
“The price of fuel is also a big part of where our wealth is going”That is true, but your finger-pointing is misdirected. The price of oil rose because of the Iraq war.You can easily see that by looking at a chart of historical oil prices.But if it’s not high enough for you, be sure to vote for republicans. Maybe they will start a war in Iran to increase the price (and the profits of the oil companies that are their contributors) even more.
Additionally, this cartoon is very misleading. The drop is 40% and this shows more like 80% falling off the cliff. I’m thinking that the loss is really due to the deregulation the shrubster and cheney crew effected in the system.
You have stated the republican line, and attempted to “poison the well” by implying bias; but that charge can also be leveled against the republican commitee members, such as Wallison (appointed by Republicans Boehner and McConnell) who had a previous record of being a critic of GSE’s. Hardly an objective investigator.
“However, this [ Wallison’s] view has not been supported by subsequent detailed analyses of mortgage market data”
Financial_Crisis_Inquiry_Commission
Also, you haven’t said anything about the Federal Reserve studies. Were they biased? And as Paul Krugman points out, there was also a bubble in the commercial real estate market, which is unconnected to Fannie Mae or Freddie Mac.
“Gas prices at $82 a barrel should be $2 a gallon”Show your math. (assuming you know any)
So now, in addition to all the other facts you deny, you believe the war had no effect on oil prices? Unrest in the middle-east has no effect on oil prices?It’s amazing… you will go on believing nonsense, rather than confront your own errors. You will vote against your own interest, rather than discard your preconceptions.Those who are interested in the facts, (not you, Ima) check out these citations:History and analysis of oil pricesThe invasion of Iraq cost the world $6 trillion in higher energy prices
cjr53 almost 12 years ago
Oh no, not the cat too!
Dtroutma almost 12 years ago
Is that a Malibu Barbie?
J Short almost 12 years ago
I was going to say at least you got rid of the cat. My apologies to CJR. (I’ve owned several. They live FOREVER; almost.)
zoidknight almost 12 years ago
Because the largest chunk of loss of the value of 401k’s and property values happened after he took office.
nz4m60 almost 12 years ago
WELL, THE FINAL AWAKING HAS FINALLY STARTED ARRIVING TO THE CONSERVATIVE CARTOONIST! GEE, I WONDER WHY OUR WEALTH HAS DISSAPEARED? KEEP BOWING DOWN THE THE TEA PARTY, REPUBLICANS, SPECIAL INTEREST, AND WALL STREET AND YOU MAY HAVE A SIMILAR REVELATION WHEN IT’S ALL GONE FOR PEOPLE LIKE YOU IN THE MIDDLE CLASS.
pdchapin almost 12 years ago
Most of that wealth were paper assets resulting from the unrealistic and unsustainable increase in house prices. Family wealth is returning to a more realistic valuation.
joe vignone almost 12 years ago
The value did not disappear, it went straight into the pockets of the 1%, who now own 40% of the wealth of our nation. It could not have been down without those regressive tax policies which both parties are guilty of voting for.
joe vignone almost 12 years ago
49% don’t pay taxes because they are making too little to survive on the left overs. You can’t get blood out of a stone. Maybe you can get the 1% to cough up a few more shekels instead of stashing their money in the Cayman’s. After all, it was this country that made them filthy rich, maybe they can help us out of our debt now that they have sucked us dry. I am sure those people working for minimum wage would be tickled to be making enough to pay taxes. Just raise their wages! You can’t have it both ways.
Dtroutma almost 12 years ago
Interesting this DID happen to some of our “investments”, in 2008!!!!!
wlcary almost 12 years ago
Are you serious? I’ll bet you vote too.
Howard Walter Premium Member almost 12 years ago
“give Fannie May and Freddie Mac, a big hand”
Yes, because:“In fact, the GSEs loansperformed far better than loans securitized by private investment banks, and GSE loans performed better than someloans originated by institutions that held loans in their own portfolios.”
“Some long-time critics of government and the GSEs, like American Enterprise Institute fellow Peter J. Wallison,36claim that the roots of the crisis can be traced directly to risky lending by government sponsored entities Fannie Maeand Freddie Mac. Although Wallison’s claims have received widespread attention in the media and by policy makers,the majority report of the Financial Crisis Inquiry Commission, several studies by Federal Reserve economists, andthe work of independent scholars suggest that Wallison’s claims are not supported by data.”
2007-2012 crisis
Howard Walter Premium Member almost 12 years ago
“The price of fuel is also a big part of where our wealth is going”That is true, but your finger-pointing is misdirected. The price of oil rose because of the Iraq war.You can easily see that by looking at a chart of historical oil prices.But if it’s not high enough for you, be sure to vote for republicans. Maybe they will start a war in Iran to increase the price (and the profits of the oil companies that are their contributors) even more.
PlainBill almost 12 years ago
Thank Bush. It was his tax cuts for the rich that caused this mess.
cjr53 almost 12 years ago
Additionally, this cartoon is very misleading. The drop is 40% and this shows more like 80% falling off the cliff. I’m thinking that the loss is really due to the deregulation the shrubster and cheney crew effected in the system.
Howard Walter Premium Member almost 12 years ago
You have stated the republican line, and attempted to “poison the well” by implying bias; but that charge can also be leveled against the republican commitee members, such as Wallison (appointed by Republicans Boehner and McConnell) who had a previous record of being a critic of GSE’s. Hardly an objective investigator.
“However, this [ Wallison’s] view has not been supported by subsequent detailed analyses of mortgage market data”Financial_Crisis_Inquiry_Commission
Also, you haven’t said anything about the Federal Reserve studies. Were they biased? And as Paul Krugman points out, there was also a bubble in the commercial real estate market, which is unconnected to Fannie Mae or Freddie Mac.
sw10mm almost 12 years ago
And your hero has done nothing but accelerate the problem. Keep mixing the kool aid.
Howard Walter Premium Member almost 12 years ago
“Gas prices at $82 a barrel should be $2 a gallon”Show your math. (assuming you know any)
So now, in addition to all the other facts you deny, you believe the war had no effect on oil prices? Unrest in the middle-east has no effect on oil prices?It’s amazing… you will go on believing nonsense, rather than confront your own errors. You will vote against your own interest, rather than discard your preconceptions.Those who are interested in the facts, (not you, Ima) check out these citations:History and analysis of oil pricesThe invasion of Iraq cost the world $6 trillion in higher energy prices