Santorum: Gas prices caused 2008 recession

Discussion in 'Politics, Religion, Social Issues' started by Thomas Veil, Feb 27, 2012.

  1. Thomas Veil macrumors 68020

    Thomas Veil

    Joined:
    Feb 14, 2004
    Location:
    OBJECTIVE reality
    #1
    I'm telling you. The. Man. Is. Nuts.

    And I know, I know, it's another Santorum thread. But this man has an even worse case of babbling insanity than Sarah Palin. He's offering us something new virtually every day.

    Suggestion to the mods: consolidate everything into one thread, make it a sticky, and call it The Ongoing Rick Santorum Ravings Omnibus Thread.
     
  2. Peace macrumors Core

    Peace

    Joined:
    Apr 1, 2005
    Location:
    Space--The ONLY Frontier
    #2
    So what's his logic ?

    People couldn't buy gas so they couldn't drive to work and lost their Jobs because they couldn't make it. Then they couldn't make their house payments because they lost their jobs and this caused the housing crisis ?

    Makes sense to me

    :rolleyes:
     
  3. LiesForTheLiars macrumors regular

    Joined:
    Jan 12, 2011
    #3
    I can't stand his stuttering voice (though Romney is worse), much less his asinine viewpoints. He also contradicts himself every five seconds.
     
  4. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #4
    More people had to pay for the gas to drive to work so they could not afford their house.

    Never mind the fact if the increase in gas price caused that then those were loans they never should of had it which would trace back to Bush and those laws that made it to easy to for banks to give out house loans they never should of given out.

    This just smells of desperation and all it will do is piss off the independents. The idiot conservative well they will scream it is great but then again that group is not exactly that sharp.
     
  5. fox10078 macrumors 6502

    fox10078

    Joined:
    Nov 6, 2009
    #5
    He was just about to say something sensible but then had to go all tin foil conspiracy.

    The rise in gas prices came at a very bad time, of course it's not all to blame, but with gas prices rising so fast those who were living paycheck to paycheck had to choose what to pay and a lot chose defaulting on their house rather than losing a job.

    Not saying it was every case but im sure this could be contributed to a few.
     
  6. renewed macrumors 68040

    renewed

    Joined:
    Mar 24, 2009
    Location:
    Bemalte Blumen duften nicht.
    #6
    The GOP is trying to gain reaction due to gas' price increase. One hopes that people are smart enough to see through it but I doubt that's the case for a lot of people.

    His claim is ridiculous. It's like he read the title of an article, 'Gas prices rise again' and decided, "hey nows a good time to show that if you vote for me I'll lower gas prices in essence save the country". :rolleyes:
     
  7. steve knight macrumors 68020

    steve knight

    Joined:
    Jan 28, 2009
    #7
    I think he will say anything to get elected. Like the only time gas prices were high as when Obama was president.
     
  8. Sedulous macrumors 68000

    Sedulous

    Joined:
    Dec 10, 2002
    #8
    I can't believe that we'd be in agreement on something.

    The housing bubble was enabled by essentially allowing banks to both grant mortgages and sell real estate... a glaring conflict of interest that even the most dimwitted politician should have prevented.
     
  9. Thomas Veil thread starter macrumors 68020

    Thomas Veil

    Joined:
    Feb 14, 2004
    Location:
    OBJECTIVE reality
    #9
    ...And Gingrich is pretty much making that claim. Something along the lines of, "I'll be the $2.50 gas president." Talk about making promises you can't keep...
     
  10. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #10
    That does not sound correct to me. I mean, if a mortgage loan fails, the issuer must have some sort of recourse to recover their capital investment: the bank has to somehow be able to sell the property they have foreclosed.

    In fact, right now, many mortgage servicing agencies are collecting on loans on behalf of the lienholder, where they really have no stake in maintaining the loan but fare better by driving foreclosures. The lienholder is effectively insulated from due responsibility for the issue and has no incentive to work with the borrower.

    The crisis of '08 was caused by a number of different things, mostly related to excessive high-risk financial activity. I would be inclined to suggest that since banking, finance and insurance (the abstract money business) are so important to a capitalist economy, we ought to constrain this sector to non-profit/co-op status only. Becoming fabulously wealthy should be the result of accomplishing something real, not shuffling money around.
     
  11. Sedulous macrumors 68000

    Sedulous

    Joined:
    Dec 10, 2002
    #11
    The real estate climate was quite different six/seven years ago. Prior to deregulation banks could not sell real estate. In the bubble market, banks were able to both sell a home and grant the mortgage to those buying said home. For a while, it was good. More real estate was being purchased as investment than any other time in our history. Many mortgages were then bundled into securities and sold by those banks. Since the market was hot, even when the buyer defaulted on a mortgage they could not afford, the home could be readily resold... often at a higher price than the original mortgage. Eventually it had to crash.

    I didn't mean to suggest this was the only cause for the housing bubble but it exacerbated it because banks had all the incentive to grant mortgages. In part because the banks made money for selling the house, but also because they could bundle questionable mortgages into nebulous securities. So lots of new construction was built to meet what was effectively an artificial demand. This ended up destroying the value of existing homes. Buyers were then stuck with housing that was worth less than when they purchased (the jargon calls this situation "upside down"). This effectively meant a net loss for anyone that owned a home in the US.

    ... or did you mean it didn't seem right that I agreed with renewed about something?
     
  12. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #12
    There are stranger things in heaven and earth
    Than are dreamt of in your philosophy, Horatio
     
  13. Buildbright macrumors 6502a

    Joined:
    Aug 25, 2011
    #13
    Face-Palm

    Perhaps he can see Russia from Palins house too.
     
  14. Saladinos macrumors 68000

    Saladinos

    Joined:
    Feb 26, 2008
    #14
    Never mind how crazy this is - when did the President become personally responsible for the price of floated commodities?
     
  15. Sydde macrumors 68020

    Sydde

    Joined:
    Aug 17, 2009
    #15
    The president is the Scapegoat in Chief. It is part of the job description. Statistics show that when the country mostly feels like things are getting worse, there is a change in party control in the government. This would be why frothy republicans are hammering on every bad thing they can. It is kind of a flaw in democracy.
     
  16. Happybunny macrumors 68000

    Joined:
    Sep 9, 2010
    #16
    Seen from the Republican view point. Oil = Arab = Muslim = Terrorist.

    Republicans like most right wing parties always look back to a period in time, when every thing was perfect. For US right wingers this is the 1950's.
     
  17. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

    Joined:
    Apr 20, 2009
    #17
    He should refer to recent history and see how well that idea worked out for Michelle Bachman. This crap reminds me of the person running for High School President who promises everyone free ice cream and Fridays off. Just like those things, $2.50 gas is also merely a pandering attempt that will never come to pass.
     
  18. Thomas Veil thread starter macrumors 68020

    Thomas Veil

    Joined:
    Feb 14, 2004
    Location:
    OBJECTIVE reality
    #18
    But one which vacillating and/or simple-minded voters will probably fall for.
     
  19. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #19
    The Bluck Stops Here??
     
  20. glocke12 macrumors 6502a

    glocke12

    Joined:
    Jan 7, 2008
    #20
    I'll buy that Obama wants to keep gas prices high, but I'll pass on everything else.
     
  21. diamond.g macrumors 603

    diamond.g

    Joined:
    Mar 20, 2007
    Location:
    Virginia
    #21
    Makes you wonder what the price of gas would be if there were no government subsidies. It kinda sucks that we effectively pay for gas twice...
     
  22. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #22
    I hope it serves to discredit this very dangerous unelectable idiot.
     
  23. mcrain macrumors 68000

    mcrain

    Joined:
    Feb 8, 2002
    Location:
    Illinois
    #23
    Out of curiosity, do you see the similarities with this type of claim and effort to attract voters ignorant of the facts regarding oil/gas prices and the sudden efforts by the GOP to talk about abortion, gay rights, and other social issues the second the economy started to improve?

    Both are nothing more than efforts by the GOP to sucker people into voting for them. You see that, right?
     
  24. zioxide macrumors 603

    zioxide

    Joined:
    Dec 11, 2006
    #24
    Love the hypocrisy of the GOP. Their cronies have made billions off of these high gas prices over the past few years. Their price gouging (and war for oil) is what has caused prices to skyrocket. So what do they do? Blame Obama.

    ****ing idiots.

    Even worse are the dumbass sheep who actually believe the huge piles of **** that spew from these guys mouths.


    Exxon Mobil made over $100 BILLION in PROFIT last year. Where did that go? The pockets of republican businessmen.
     
  25. flopticalcube macrumors G4

    flopticalcube

    Joined:
    Sep 7, 2006
    Location:
    In the velcro closure of America's Hat
    #25
    Makes you shudder to think what the REALLY big oil producers are making. Actually Exxon earned $41B in profit last year, most of it in upstream operations like refining. 1/4 of the profit went to shareholders as dividend payments. They also have an aggressive share buy back which eats up over 10% of the profit. I don't doubt both Repubs and Dems got their "fair" share as well.
     

Share This Page