Tiberius Posted November 29, 2023 Posted November 29, 2023 20 minutes ago, sherpa said: What he said that was incredibly ignorant of the situation was as follows: Inflation was really bad and mortgage rates were really high, around 10% at the time, as I recall. There was a groundswell of complaint as military salaries were not nearly adjusting, and housing, especially in California where I was based, was unaffordable for junior officers, let alone enlisted. He was asked to address some of these complaints, and he stated that the housing issue didn't matter because the military provided housing. This was total nonsense. There is not near enough military housing for officers and he was completely ignorant of this, as well as a few other financial stresses cause by inflation. When the DCNO Air Warfare and the Administration rep showed up for this discussion, a junior officer pointed out that per the application process, he was eligible for food stamps. This was an officer. Someone who get out and double his salary in a second. Anyway, it didn't go well. Carter was despised, and I won't even go into the tragedy he managed trying to rescue the hostages. Bad as that was, it probably would have been much worse if continued. We had been relieved a month prior and had just gotten home, but I have good friends who were up and ready on the two carriers ready to fly fighter and attack missions in support. Yes, why didn’t wave his magic wand and fix everything that instant
Tommy Callahan Posted November 29, 2023 Posted November 29, 2023 2 minutes ago, Tiberius said: Yes, why didn’t wave his magic wand and fix everything that instant Ideology. then Reagan and the 1980 record sweep, and a bunch of stuff got fixed. 1
Tiberius Posted November 29, 2023 Posted November 29, 2023 12 minutes ago, Tommy Callahan said: Ideology. then Reagan and the 1980 record sweep, and a bunch of stuff got fixed. Sure, like the savings and loan industry 🤣 1
Tommy Callahan Posted November 29, 2023 Posted November 29, 2023 A major factor contributing to the crisis was the Federal Reserve's response to rampant inflation, marked by Paul Volcker's speech of October 6, 1979, which resulted in a series of short-term interest rate increases. This led to a scenario whereby the short-term costs of funding to S&Ls were higher than the returns they were realizing from many of their mortgage loan portfolios. This situation could not be directly addressed because a large proportion of the loans were fixed-rate mortgages (a problem that is known as an asset-liability mismatch). As the Federal Reserve's policies continued to cause interest rates to rise, this placed even more pressure on S&Ls in late 1979 and into the 1980s, leading to an increased focus on high interest-rate transactions. As a result, fewer people borrowed money from S&Ls which further significantly lowered revenue so the institutions could not offset their losses. According to Zvi Bodie, professor of finance and economics at Boston University School of Management, writing in the St. Louis Federal Reserve Review, "asset-liability mismatch was a principal cause of the Savings and Loan Crisis In the early 1980s Congress passed two laws intended to deregulate the Savings and Loans industry, the Depository Institutions Deregulation and Monetary Control Act of 1980 signed by President Jimmy Carter and the Garn–St. Germain Depository Institutions Act of 1982 signed by President Ronald Reagan. These laws allowed thrifts to offer a wider array of savings products (including adjustable-rate mortgages)
sherpa Posted November 29, 2023 Posted November 29, 2023 31 minutes ago, Tiberius said: Yes, why didn’t wave his magic wand and fix everything that instant He did, at least he started to, but his name was Reagan. You simply don't get what an arrogant prick this guy was. This Plains Georgia, avuncular, nice guy, carry my own bags was a myth. He thought he was smarter than everyone else and he was grossly wrong. I could go on and on about readiness etc., but you are not worth the effort, and I can't stand people who call me a liar. 1
Tiberius Posted November 29, 2023 Posted November 29, 2023 1 minute ago, sherpa said: He did, at least he started to, but his name was Reagan. You simply don't get what an arrogant prick this guy was. This Plains Georgia, avuncular, nice guy, carry my own bags was a myth. He thought he was smarter than everyone else and he was grossly wrong. I could go on and on about readiness etc., but you are not worth the effort, and I can't stand people who call me a liar. A prick? Oh brother. If anything he was too nice of a guy 1
sherpa Posted November 29, 2023 Posted November 29, 2023 26 minutes ago, Tiberius said: A prick? Oh brother. If anything he was too nice of a guy Ya? Ask the military people assigned as White House staff or his Secret Service Det. Ask the people who he made stay in a trailer outside Plains, with the nuc codes because he didn't want them in Plains. They have different views, as published. 1
K D Posted November 29, 2023 Posted November 29, 2023 Inflation, the hidden tax that the middle class pays for. Keep printing those fake paper bills to pay for your wars and socialism! 1
reddogblitz Posted November 30, 2023 Posted November 30, 2023 Anyone who crtisizes Marines, Soldiers, Sailors, Airmen, or Coast Guardsmen who served in combat in Vietnam (or anywhere else) that did not do the same is a chump in my book. 1
B-Man Posted December 1, 2023 Posted December 1, 2023 PUSH PLAY. . . . . . . . . . I dare you. The people know...the people feel the pain at the stores and all other costs. 1 1 1
BillStime Posted December 4, 2023 Posted December 4, 2023 Hey MAGA nutters - you reap what you sow. 2
Tommy Callahan Posted December 4, 2023 Posted December 4, 2023 On 12/1/2023 at 11:45 AM, B-Man said: PUSH PLAY. . . . . . . . . . I dare you. The people know...the people feel the pain at the stores and all other costs. Shh. they need to focus and parrot "orange man bad" Thats the script. they dont have much else going. 1 1
BillStime Posted December 19, 2023 Posted December 19, 2023 Malls are jammed pack. Traffic everywhere. Consumer spending is up and gas prices are down. 1
Tommy Callahan Posted December 19, 2023 Posted December 19, 2023 LOL. Malls are dead. Box stores are dying. 1
BillStime Posted December 19, 2023 Posted December 19, 2023 7 minutes ago, Tommy Callahan said: LOL. Malls are dead. Box stores are dying. Where do you live, Chris?
Doc Posted December 19, 2023 Posted December 19, 2023 6 hours ago, Tommy Callahan said: LOL. Malls are dead. Box stores are dying. Yup. I like to go to the local mall after Thanksgiving every weekend I get a chance. It's been dead this year. 1
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