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Thread: Biden Has A Lot Of Work To Do Undoing The Damage

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    Quote Originally Posted by Cypress View Post
    Ten out of the 13 post-WW2 recessions have been during Republican administrations. Including all the worst ones

    Not a coincidence anymore.
    Lie.

    The Stock market crash was caused by policies implemented by Woodrow Wilson, a Democrat, putting into place a bubble in the early 20's' that popped in 1929. It was deepened into a depression by FDR, who made it last until his death in 1945. Only then, when the war was finally resolved and the Democrats lost power in 1953, did things finally start to pick up. By 1956, under Eisenhower (a Republican) the economy was really starting to pick up again.

    The recession in the late 60's (a cash crash) was the direct result of FDR and expansive government spending, and using the Fed to just print all the money the government wanted. This resulted in a cash crash that forced Nixon to disconnect gold from the value of the dollar. It also was the cause of the price of oil increasing dramatically in the early 70's.

    Carter's implementation of price controls on things like gasoline directly resulted in the Gas Crisis of 1979. Stations and oil companies were not about to sell their products for less than what it cost to produce them, so they sat on it.

    Reagan removed the price controls, and the shock to the system from Carter's idiocy and previous issues stemming all the way back to the policies of FDR and expansive government spending hit again. Reagan was right in what he did, and he knew the time had come to pay the piper for the song that Carter and the Democrats wrote. It was the best way out of the mess. Once that unwound, the economy exploded into overtime. Whole industries were created under Reagan, including the personal computer industry and the beginning of the Web.

    By the time Clinton came around, things were still going pretty good. Bush Sr didn't do much to interfere, and the good economy continued.

    Clinton changed everything. He started implementing price controls on many things with the predictable disasters that resulted. He was the one that passed the laws that required the banks to begin lending to unqualified borrowers or face consequences from the Fed. During the Clinton years, people could not produce so much anymore due to overregulation they went for speculation instead, fueling the bubble that would pop in 2001. It became scam after scam under Clinton. In the computer industry, for example, many companies would scam investors, then IPO and head to Mexico. These companies had nothing more in assets than a few lines of script code. It was all scam. In 2001, it all popped.

    Bush Jr really should have done something about Clinton's stupid housing laws. He didn't. That scam burst in 2007 with disastrous consequences. Yes. I put the blame partly on Bush Jr for that, but I also put it squarely on the Democrat Congress that he had to deal with. The initial bubble for the 2007 debt crash was started by Clinton.

    Obama deepened the housing crisis by his overregulation of businesses, his arbitrary manner of nationalizing companies and even whole industries, and claiming the recession was 'the new normal', that 'America was at fault' for everything in the world, and that 'greedy corporations got what they deserve'.

    This didn't end until the election of Trump. Because Trump is first a businessman, almost singlehandedly he turned the economy around. It exploded in record gains, despite the Democrats never accepting the 2016 election results and making up witch hunts to impeach Trump. When Covid19 came along, Democrat governors and mayors shut down the economy, picking and choosing which business was allowed to operate as 'essential'. In other words, fascism; all based on fear mongering a virus that infects only about 0.3% of the population and kills only about 0.002% of the population (Source: CDC). It is milder than many flu viruses, or even other SARS related viruses. This time, however, Democrats used it to kill the economy that Trump helped to bring about. As soon as some more businesses were allowed to open, the economy started improving...a lot.

    Now the Democrats are locking down again to prevent the improved economy, faking a crisis that isn't. Further, they are now using violent factions like Antifa and BLM, which the Democrats fund and support, to cause general mayhem and doubt about America's future. All of it designed to make Orange Man Look Bad.

    The shrieking, the panics, the manufactured crisis, the violence, the arsons, the looting, the cancel culture, the impeachment sham, the muckraking...all of it belongs to the Democrats. So do the crashes of the 1940's, the 1960's, the late 1970's, the 2001 crash, and the 2007 crash, are ALL the result of Democrat policies and the Fed.

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    Quote Originally Posted by T. A. Gardner View Post
    Correlation doesn't not necessarily equal causation.
    He is not even correlating. He is simply denying history.

    Bubbles form years or even decades before they finally pop. During that ballooning stage, they can indeed seem like good times, but it's hollow. It has no substance. Note the speculations of 1914 through 1929, resulting in a cash crash. Again in the 1990s through 2001. Again in the years leading up to 2007. People were investing in real estate that had business being in real estate. It was all a speculative bubble, brought about by housing rules implemented by Bill Clinton in the late 90's and enhanced by a Democratic Congress during the Bush administration. Further, keeping interest rates artificially low (the price of money is also a market. The Fed institutes prices controls on money itself) put too much money into the system at a time when wealth creation was being curtailed in favor of speculation. The Fed and the Democrats caused the 2007 debt crash.

    Yet another demonstration that Keynesian economics doesn't work. You can't buy, borrow, or print your way out of a financial problem.

    The U.S. government is too big. It spends too much money. It's broke. It can no longer pay its debt except with empty dollars printed from the Fed. Each taxpayer owes approx. $214,000 in their share of that debt. They can't afford to pay it.

    The ONLY thing saving our ass right now is that practically all other nations in the world are doing the same thing.

    It's a race to the bottom. Who will get there first. When it happens, it will be a worldwide crises. It will likely be war. Not WW3, but a worldwide Civil War, as each society chooses a different currency to use, rejecting the fiat stuff their government is printing.

    That's bigger than Trump. No one can stop it now. It WILL eventually happen. The only question is, when? If Trump can do anything, he can do a lot to mitigate the worse effects of it here in the United States while he is in office.

    In Japan, they are experiencing NEGATIVE interest rates. The government is PAYING the population to take their cash. Other nations are following suit. Will what happened to the Yen happen widespread?

    Fiat currency came about as a result of the debts racked up during WW1 and WW2. Governments couldn't pay that debt. Now it's worse. Much worse. Currently, gold is trading at $3300/oz. If we return to gold as the currency, we could see $60,000/oz easily. Of course that would be in a world of multimillion dollar houses being considered cheap.

    We shall see.

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    Hello T. A. Gardner,

    Quote Originally Posted by T. A. Gardner View Post
    Correlation doesn't not necessarily equal causation.
    Tell that to the voters.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

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