What Message Do You Want To Hear At The Democratic National Convention?

[nathanm]

You can see where FRED gets its data. It's the same place.

You may note that there is a difference between median household income and personal income. For someone who regularly poo-poohs any idea that income inequality is a problem, you sure seem rather interested in the median income today. Oh, that's right, it's something you can use to beat Obama about the head with. You really think that's something that Mitt Romney is going to do anything about?

You may be interested to know that the average wage of production and nonsupervisory workers is also up significantly since Obama took office. It was a hair over $18.40 an hour at the time, now it's a hair over $19.80. Yes, unemployment is high. For those who are working, however, the economy is looking surprisingly good, especially when compared to the rest of the world, where declining wages are the norm, outside of China and Australia, anyway.

I'll look at the study later and see if I can divine exactly where the divergence is.

[Teatownclown]

interesting subliminal message....

[RecycleMichael]

I would vote for Obama if his balls were as big as this dogs.....

That seems fair.

[DolfanBob]

interesting subliminal message....

Meh. I'd rather go to White Castle.

[erfalf]

Although it is a bit late, (because no one at the DNC will do this) but I would like to see someone point out the problems with the much heralded "Wall Street Reford" (i.e. Dodd-Frank). I think anyone with half a brain would conclude that the single greatest factor in bringing down the economy recently has been the sub-prime mortgage market. What did Dodd-Frank conveniently leave out of their reach? The ratings agencies (S&P & Moody's) and the GSE's (Fannie/Freddie). Who thinks this recession is a one time thing?

And all this bickering back and forth is really immaterial. Generally speaking, I would say that myself and a few others on here aren't arguing how certain things should be run by the government, but whether or not the federal government SHOULD be running/doing these things at all. For example, RomneyCare & ObamaCare are very similar, except for the glaring fact that the federal government should not have had the authority to do such a thing (although through a wacky Supreme Court decision, they apparently are, which is why Supreme Court selections are so dang important).

And the whole tax the rich thing is so old. They can say everyone needs to pay their fair share until the cows come home, but what are they really going to do about it, they're rich too. Does no one find it comical to have a rich dude (Obama or Romney) telling me (a not rich dude) that the rich need to pay their fair share. Seriously.

There, I just ranted on the three of the major planks of the Democratic platform.

[Hoss]

Although it is a bit late, (because no one at the DNC will do this) but I would like to see someone point out the problems with the much heralded "Wall Street Reford" (i.e. Dodd-Frank). I think anyone with half a brain would conclude that the single greatest factor in bringing down the economy recently has been the sub-prime mortgage market. What did Dodd-Frank conveniently leave out of their reach? The ratings agencies (S&P & Moody's) and the GSE's (Fannie/Freddie). Who thinks this recession is a one time thing?

And all this bickering back and forth is really immaterial. Generally speaking, I would say that myself and a few others on here aren't arguing how certain things should be run by the government, but whether or not the federal government SHOULD be running/doing these things at all. For example, RomneyCare & ObamaCare are very similar, except for the glaring fact that the federal government should not have had the authority to do such a thing (although through a wacky Supreme Court decision, they apparently are, which is why Supreme Court selections are so dang important).

And the whole tax the rich thing is so old. They can say everyone needs to pay their fair share until the cows come home, but what are they really going to do about it, they're rich too. Does no one find it comical to have a rich dude (Obama or Romney) telling me (a not rich dude) that the rich need to pay their fair share. Seriously.

There, I just ranted on the three of the major planks of the Democratic platform.

Yeah.  Especially when one of those rich dudes shelters a smile-load of his money offshore.  The gawl!

[nathanm]

And the whole tax the rich thing is so old. They can say everyone needs to pay their fair share until the cows come home, but what are they really going to do about it, they're rich too. Does no one find it comical to have a rich dude (Obama or Romney) telling me (a not rich dude) that the rich need to pay their fair share. Seriously.

Obama is pretty wealthy at this point, but not terrifically so like Romney. Obama's money so far has come from book sales. Granted, once he is no longer in office he will probably make a mint on speaking fees. Nonetheless, I don't really see the comedy in a rich guy telling me he should be required to pay more taxes. Seems pretty serious to me.

And once again, Fannie and Freddie were not into subprime in any big way (compared to the size of their book and the market, anyway). Their market share was abysmal in 2006-2008. Countrywide and others managed quite well on their own, just as they had been for the decade since LTCM. (LTCM's failure triggered a subprime meltdown, but the subprime market was tiny at that point)

[erfalf]

Yeah.  Especially when one of those rich dudes shelters a smile-load of his money offshore.  The gawl!

Which as far as I know is perfectly legal. Maybe you should redirect your anger at the reason people do those sorts of things.

[nathanm]

Which as far as I know is perfectly legal. Maybe you should redirect your anger at the reason people do those sorts of things.

What, that people are too greedy to pay even 14% tax?

[Hoss]

Which as far as I know is perfectly legal. Maybe you should redirect your anger at the reason people do those sorts of things.

I don't mind that he does it, but why is he hiding it?

[erfalf]

Obama is pretty wealthy at this point, but not terrifically so like Romney. Obama's money so far has come from book sales. Granted, once he is no longer in office he will probably make a mint on speaking fees. Nonetheless, I don't really see the comedy in a rich guy telling me he should be required to pay more taxes. Seems pretty serious to me.

And once again, Fannie and Freddie were not into subprime in any big way (compared to the size of their book and the market, anyway). Their market share was abysmal in 2006-2008. Countrywide and others managed quite well on their own, just as they had been for the decade since LTCM. (LTCM's failure triggered a subprime meltdown, but the subprime market was tiny at that point)

The two own a huge portion of the home loans and were extremely adversly effected. In addition, there is some extremely lax accounting standards within the two GSE with many re-statements.

[erfalf]

What, that people are too greedy to pay even 14% tax?

Maybe that regulations are far more favorable to have operations/finances in offshore accounts. Coincidentally, I'd say at least a good chunk of the PE firms out there are based out of the Caymens. Just like virtually every corporation is a Delaware corporation. The rules are more favorable. Not because they can break the law easier (although some will no matter the location).

[erfalf]

I don't mind that he does it, but why is he hiding it?

Just because he has accounts offshore does not mean he is hiding it for nefarious reasons. I wish that distrust of public figures was equally applied. 

[Hoss]

Just because he has accounts offshore does not mean he is hiding it for nefarious reasons. I wish that distrust of public figures was equally applied. 

Spill what you know then..what?  You say you don't?   

[erfalf]

Spill what you know then..what?  You say you don't?   

All I am saying is that having offshore accounts does NOT equal hiding something illegal.

It would be along the lines of me saying that because Obama grew up in Indonesia and went to a Muslim school that he is a Muslim that wasn't born in this country. One does not necessarily mean that the other occurred.