West Coast shippers lock-out

[SteelrFn]

She wasn't exactly my type but I'm married so that wasn't an issue for me. But I guess for the TRUMP CULT MEMBERS that think it's cool for trump to cheat on all three of his wives I guess it seems like a fair question.

As to OSHA, if that was it they passed the inspection with flying colors. Their eye care seemed to be top notch too.

Married? Who's the unlucky guy?

 

[Big B]

Married? Who's the unlucky guy?

Looks like I can add HOMOPHOBE to your title of TRUMP CULT MEMBER now. Or should that be HOMOPHOBIC TRUMP CULT MEMBER?

 

[empower]

Quote Originally Posted by standardparts View Post
Whatever caused that pesky 2008 recession anyway.




You are either mis-informed or full of s***, it was the housing collapse that caused the majority of the 2008 recession
BTW Friedman died in 2006 SMH

isnt goldman at least partially responsible for giving out bad loans which led to the said collapse?

 

[Scottl]

Looks like I can add HOMOPHOBE to your title of TRUMP CULT MEMBER now. Or should that be HOMOPHOBIC TRUMP CULT MEMBER?

Which leads to the question, do you pitch or catch?

Never mind, we know the answer.

 

[SteelrFn]

isnt goldman at least partially responsible for giving out bad loans which led to the said collapse?

Agreed but they all were, every bank out there was writing loans they shouldn't have to people they knew couldn't make the payments because Bill Clinton put Carters Community Reinvestment act guaranteeing home loans to low income families on steroids in the 90's making Fannie may and Freddie Mac a systemic risk, the bubble was bound to break eventually and I'm surprised it lasted as long as it did.

 

[Scottl]

isnt goldman at least partially responsible for giving out bad loans which led to the said collapse?

Yes, the big boys put together real estate portfolios for investors to buy shares in. Everyone involved thought the bubble would never burst. Scary thing is, at least around here real estate seems to be in yet another bubble which may signal another coming crash.

 

[thermite]

isnt goldman at least partially responsible for giving out bad loans which led to the said collapse?

Tens of Millions of opportunists had to seek and take-on optimistically-based loans. Tens of thousands of other opportunists lent them the money to be stupid.

"Countrywide" - our former Mortgage holder - was one of the key lenders that had specialized in the risky ones.

Goldmans was one of dozens who blended those into so-called "investment" vehicles that obscured the risk. Monetized assured foreclosures as if they were high-grade paper, IOW.

No skin off OUR ass.

A) We had only used them because OUR credit was so good we got the lowest rate known.

B) We had paid-off a 30-year VA mortgage about fifteen years in - many years before the crunch. Our other homes were all paid for as well. The 2% money had been put to use by folk who DID know economics.

Wife and I.

Crunch hit? Our community, and one about ten miles away, took the deepest hit percentage of foreclosures and biggest drop in value anywhere in America.

We were good wit' dat'. Our property taxes went down.

But only briefly.

Then the Loudoun County Demonrats raised the millage ... so THEY could keep on spending like drunken sailors.

As they are doing again.

Now.. Youngkin offers parents regaining control of schools, eliminate State tax on groceries and cut State gasoline tax? And he can actually DO it.

What was that fool SIP6A always saying, heading eyes wide-shut into Bidenista-sewercide?

Oh. Yes.

"We'll remember, come November"

He surely ain't said s**t, LATELY about his choice!

The grapes must have been sour?

Or was it gangrenous?

 

[Rob F.]

Looks like TRUMP

Here he is again BB, enjoy!:

 

[EmGo]

Agreed but they all were, every bank out there was writing loans they shouldn't have to people they knew couldn't make the payments because Bill Clinton put Carters Community Reinvestment act guaranteeing home loans to low income families on steroids in the 90's making Fannie may and Freddie Mac a systemic risk, the bubble was bound to break eventually and I'm surprised it lasted as long as it did.

You stupid shit.

Goldman and other Wall Street firms piled what they knew were bad mortgages into CDO's, then got the CDO's rated as great by Moody's. The other banks involved (B of A, Wells Fargo, etc) made the initial bad loans because they knew they would sell them on to someone else. The entire game was to make crap loans, hide them in other "investment" vehicles, and sell them on. Goldman and the rest of the Street came up with this scam and made it happen. It had NOTHING to do with the community reinvestment act. It had everything to do with the entire world, Willy-boy at point, charging into that stupid braindead worship of finance, aka the Church of Milton Friedman.

How can you be s ignorant and still remember to breathe ?

 

[Trueturning]

You stupid shit.

Goldman and other Wall Street firms piled what they knew were bad mortgages into CDO's, then got the CDO's rated as great by Moody's. The other banks involved (B of A, Wells Fargo, etc) made the initial bad loans because they knew they would sell them on to someone else. The entire game was to make crap loans, hide them in other "investment" vehicles, and sell them on. Goldman and the rest of the Street came up with this scam and made it happen. It had NOTHING to do with the community reinvestment act. It had everything to do with the entire world, Willy-boy at point, charging into that stupid braindead worship of finance, aka the Church of Milton Friedman.

How can you be s ignorant and still remember to breathe ?

It seems other factors occurred which then triggered the collapse of the home loan markets. Until those factors occurred most people made their mortgages. It is hard to keep sustaining loaning to bad risks for long. They cascaded and collapsed based on other factors it appears.

Regarding real estate it is definitely over burdened it could easily on its own somewhat fickle. Some criminal activity can go a long way to messing things up.

Property tends to go up. Banksters make lots of money on the loans and will seize the property if they wish. Too taxes are tied to property and add to that the valuation of the appraisal on property often being too much to maximize taxes levied and collected. Now that seems to always get out of hand is it the taxes, the property values, or the lenient loans given out which become the problem? Could it be the economy or stagnant or regressive living wages?

Just like when the could front froze Texas often things can be likened to a cascading effect. Just saying. It is well known there are many points of view about that time the economic collapse and the Texas freeze and power grid failure.

Now in China a very large company is in financial trouble as they have leveraged to all extent their real estate holdings. Now the values have fallen in line with actual value. Not to worry the government will step in and do something. The same as here except there in China heads could possibly more likely literally roll over it. At least there if they are mad at bad actors usually they do not enjoy favoritism as they do here. They usually stay in the confines of what the law allows and wish to stay out of jail.

If there be dangers to how they behave they lobby changes fine ones in the law which are basically steel loopholes which protect the elite. They generate much economic activity anyway and so various ones are symbiotic in their existence with each other.

 

[EmGo]

It seems other factors occurred which then triggered the collapse of the home loan markets. Until those factors occurred most people made their mortgages. It is hard to keep sustaining loaning to bad risks for long. They cascaded and collapsed based on other factors it appears.

True, NO.

IT WASN'T THE LOANS. The loans were the vehicle for the scam. The trick was to take crap loans and bundle them into opaque "investments" called CDO's (and other things.) Then you get Moody's or some other fools to rate them as "prime" when the reality is, they are crap. You sell them on to unsuspecting legitimate banks such as Deutschebank. Then when the crap investment vehicle falls apart, it's not your problem.

Everyone involved knew what was going on. Normal banks like Wells Fargo and B of A had large incentives to make loans, no matter how crappy they were, because they knew they were going to get rid of them. It wouldn't be their problem. Thats why so many shitty loans were made, not because the the community reinvestment program but because there was big money in it.

So normal banks sold crap to "investment" banks as raw material, Goldman-Sachs and the rest bundled this shit in with three good loans and got irresponsible Moody's to rate it A1, then sold them on to other banks, such as Deutschebank. The whole effing thing HAD to fall apart, because it was made up of shit, and everyone at the top knew it. B of A and Wells and others had to figure it out too, they aren't totally stupid. But they didn't give a shit because they personally made good money.

Then when it did fall apart, the feds printed up a ton of money (OUR money, inflation comes from the savings of all us stupid normal people), paid Jamie and Lloyd a few trillion so they wouldn't have to miss a bonus; INSTEAD OF re-legislating Glass-Stegall which actually worked for fifty years, Congress passed a totally worthless piece of coverup shit called Dodd-Frank, and ever since then those two dollar whores in Washington have been trying to water even that down.

It was a scam by Wall Street from start to finish, and didn't involve any "community reinvestmenat act" ever. This lovely con job ended up transferring billions of dollars upwards. Newman and Redford times a thousand. Nice work, if you can get it.

This is all very thoroughly documented but you guys just keep on waltzing down the Milton Friedman trail, worshipping money and thieves as you go. So fucking stupid.

In a democracy you deserve what you get.

 

[Trueturning]

True, NO.

IT WASN'T THE LOANS. The loans were the vehicle for the scam. The trick was to take crap loans and bundle them into opaque "investments" called CDO's (and other things.) Then you get Moody's or some other fools to rate them as "prime" when the reality is, they are crap. You sell them on to unsuspecting legitimate banks such as Deutschebank. Then when the crap investment vehicle falls apart, it's not your problem.

Everyone involved knew what was going on. Normal banks like Wells Fargo and B of A had large incentives to make loans, no matter how crappy they were, because they knew they were going to get rid of them. It wouldn't be their problem. Thats why so many shitty loans were made, not because the the community reinvestment program but because there was big money in it.

So normal banks sold crap to "investment" banks as raw material, Goldman-Sachs and the rest bundled this shit in with three good loans and got irresponsible Moody's to rate it A1, then sold them on to other banks, such as Deutschebank. The whole effing thing HAD to fall apart, because it was made up of shit, and everyone at the top knew it. B of A and Wells and others had to figure it out too, they aren't totally stupid. But they didn't give a shit because they personally made good money.

Then when it did fall apart, the feds printed up a ton of money (OUR money, inflation comes from the savings of all us stupid normal people), paid Jamie and Lloyd a few trillion so they wouldn't have to miss a bonus; INSTEAD OF re-legislating Glass-Stegall which actually worked for fifty years, Congress passed a totally worthless piece of coverup shit called Dodd-Frank, and ever since then those two dollar whores in Washington have been trying to water even that down.

It was a scam by Wall Street from start to finish, and didn't involve any "community reinvestmenat act" ever. This lovely con job ended up transferring billions of dollars upwards. Newman and Redford times a thousand. Nice work, if you can get it.

This is all very thoroughly documented but you guys just keep on waltzing down the Milton Friedman trail, worshipping money and thieves as you go. So fucking stupid.

In a democracy you deserve what you get.

Thus what I mentioned high risk loans were the start. How they dressed it up and kept it going is akin to money laundering. Change to useful. These other reactionary things are a byproduct continuing earning money all along the way and is a attempt to support the deception that the underpinnings are a pig.

Insurance failed also and it is heavily tied into real estate. They are all intertwined. Big business often gets so big that they get brazen. It seems that oft times this catches up to them eventually.

My points and yours do not clash really. What you described does not invalidate what I pointed out as a lot of that crisis was real estate based on high risk loans.

 

[Bill D]

Uh, this is a nine year old thread. Maybe the strike is over by now? trump was not even running for office back then so he can be ignored about this one.
Bill D

 

[Big B]

Uh, this is a nine year old thread. Maybe the strike is over by now? trump was not even running for office back then so he can be ignored about this one.
Bill D

Bill,

This thread will be legal to drink alcohol next July. It's over 20 years old.

 

[standardparts]

Uh, this is a nine year old thread. Maybe the strike is over by now? trump was not even running for office back then so he can be ignored about this one.
Bill D

Back in 2002-----"The port dispute is focused on management's efforts to introduce new technologies to speed cargo handling. Even though the employers have promised job security to the longshoremen, the union has balked at accepting new technology because it worries that some jobs that are now part of the union's jurisdiction will become nonunion or management jobs."

Fast(?) forward to 2021---"Threatened by automation"---"Longshore Union Says Gridlock Thwarts Biden’s 24/7 Decree"..... "Unions say automated systems aren’t always efficient. You can always add more workers, they say, but machines have a limited bandwidth.....
“We’ve proven that we outproduce those machines, that human labor outproduces the automated terminal,” said Martinez of Local 94. “It’s all about cost.”

Seems it's back to 2002 dealing with the unions. Here's a link to the article--https://news.bloomberglaw.com/daily-labor-report/port-paralysis-vexes-longshore-workers-threatened-by-automation

 

[EmGo]

Seems it's back to 2002 dealing with the unions. Here's a link to the article--https://news.bloomberglaw.com/daily-labor-report/port-paralysis-vexes-longshore-workers-threatened-by-automation

Yeah, bloomberg law ... the people who rip you off every time you breathe. Why is it that you people slavishly follow whatever these assholes say, no matter what the facts are ?

In this whole discussion I have seen ONE fact : the photos I posted after Rob F put up the live cams of the port gates. What even that means I dunno, but can recognize that the rest of this shit is pure speculation, based on wishful thinking and dumb partisanship.

If that's how you insist on running the country, you boys be in some deep shit.

======

edit: Did you read your own article ? The first 3/4 explains that the problem is between the union-operated cranes which are working perfectly fine and the local warehouses where containers get sorted for shipping further. I don't know if this is true or not, it's difficult to believe any of these swine, but that's his claim..

But then the mother-fucker writing this swill goes off about automation and unions. How the flock is automation going to change the job of driving from the dock itself to a local warehouse ? According to his own article, the present situation has nothing to do with unions. But that's whom he blames for the problem.

Fucking two-faced assholes writing this crap. One thing Mr Trump was correct about, and that's "fake news" ... by ALL parties. Journalism is dead. Journalism is shit. R.I.P. journalism.

 

[standardparts]

Yeah, bloomberg law ... the people who rip you off every time you breathe. Why is it that you people slavishly follow whatever these assholes say, no matter what the facts are ?

Have no way of knowing the accuracy of the article, or the intent of the reporter. Have to admit that based on past history, probably one component to consider is the history of labor and management negotiations. There are other issues of course resulting in a big mess.

 

[EmGo]

There are other issues of course resulting in a big mess.

It would be really nice if someone disinterested would just evaluate what the hell is happening. I also wonder about Customs. Last month mailed a package to Canada. I can walk there in ten minutes. Package took three days to get to Canada (okay) then three weeks to go the next five miles. What the eff ?

All these articles by twats trying to pin the blame on their favorite nemesis are worse than useless. Let's find out wtf is actually happening.

 

[standardparts]

It would be really nice if someone disinterested would just evaluate what the hell is happening. I also wonder about Customs. Last month mailed a package to Canada. I can walk there in ten minutes. Package took three days to get to Canada (okay) then three weeks to go the next five miles. What the eff ?

All these articles by twats trying to pin the blame on their favorite nemesis are worse than useless. Let's find out wtf is actually happening.

Do know what more you expect---Our President went out there and told them to work 24/7. Problem solved. Seriously.....I don't think any news agency is interested.

 

[EmGo]

I don't think any news agency is interested.

I think you're absolutely right about that. And it's appalling. I hear all this shit about the Free Press but where are they when you need them ?