Bigdog
Harris - make America a 3rd world shithole
Yeah, well we don't need to rehash how Bill Clinton fucked that all up.
DOW closes up over 21000
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Yeah, well we don't need to rehash how Bill Clinton fucked that all up.
How quickly you guys forget Greenspan's screw ups and how they contributed to the failed economy.
"Greenspan... tells us that his problem as Fed chair was that he just didn't know about the flood of junk mortgages that was fueling the unprecedented rise in house prices during the bubble years. He has used this ignorance to explain his lack of action – or even concern – about the risks posed by the bubble.
Greenspan's "I didn't know" excuse is so absurd as to be painful. The explosion of exotic mortgages in the bubble years was hardly a secret. It was frequently talked about in the media and showed up in a wide variety of data sources, including those produced by the Fed. In fact, there were widespread jokes at the time about "liar loans" or "Ninja loans". The latter being an acronym for the phrase, "no income, no job, no assets".
The fact that banks were issuing fraudulent mortgages by the millions, and that the Wall Street crew was securitizing them as fast as they could get them, was not top secret information available only to those with special security clearance. This was the economy in the years 2002-2006.
It was impossible to look at the economy in these years and not see the role of the housing bubble and the tsunami of bad mortgages that fueled it. The run-up in house prices led to a near record pace of construction. Typically housing construction is around 4.5% of GDP. It peaked at 6.5% in 2005. Greenspan didn't notice? Who did he think was going to live in all these units, the building of which had created record vacancy rates as early as 2003?
And he didn't notice that the spike in house prices had led to a surge in consumption pushing saving rates to nearly zero?"
https://www.theguardian.com/commentisfree/2013/oct/28/alan-greenspan-housing-market-crisis
canceled.2021.1
#AMERICAISDEAD
cawacko
Well-known member
Who's forgetting it? Liberals loved Greenspan when he was in office. They called him "the Maestro".
The significant difference is where the profits went under Obama's administration.
The wealth was not being reinvested in the U.S., that is shown by the flat national GDP under Obama along with record numbers on food stamps and welfare.
The mega-wealthy and those with properly situated stock portfolios did great.
The average American Citizen saw shit for return on their 401K programs, and suffered from stagnant wages.
The guy with his fist shoved up Obama's ass, George Soros, he did pretty damn well thanks to his little uncle tom Obama.
cawacko
Well-known member
Any Trump supporter trying to brag about the market is setting themselves up for a big fail. This is a bubble market which was propped up for years by QE.
However this thread was worth it just to have a Democrat post an article blaming the Fed for the housing crisis. The liberal argument for years has been it was Wall St's fault and not the govt's. Glad to see the switch.
However this thread was worth it just to have a Democrat post an article blaming the Fed for the housing crisis. The liberal argument for years has been it was Wall St's fault and not the govt's. Glad to see the switch.
cawacko
Well-known member
Someone must want to argue why we are or are not in a bubble. And Christie posted the article blaming the Fed for the housing crisis, there are multiple liberals on this board who have blamed Wall St and said the gov't didn't have anything to do with it. Someone must have a thought on the subject
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False news, the DJI was just under 8000 when Obama took power in 2009.
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The Turks are in the process of building a wall across the Syrian border, but liberals say they don't work!!
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You don't make a dime until you sell.....until you have your gains safely in your pocket.....Gains the last 3 months or even longer, are built on Trumps promises....optimism for the future...
Democrats are doing everything in their power to hinder Trump, to obstruct Trump, to stop Trump so that optimism could disappear in a flash.....
To the deranged pinheads, Stopping Trump is more important than the US economy or the citizens welfare....
This market can come tumbling down just as fast as it went up in the last few months....
USFREEDOM911
MAKE AMERICA GREAT AGAIN
I saw that and when you look at the number of countries who have walls / fences at their own borders; you have to wonder why they keep them, if they're such failures as the liberals say they are.
Cancel 2018.2
Oh, hi
This is absolutely and sadly true. Then again, the pubs didn't give Obama any confidence in his first term.
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He's lying, the Dow has gone up more than 140% since Obama's inauguration in January 2009. If you look at how the Dow has done since it hit its low point on March 6, 2009 it ended up 210% in January 2017.
Thingy ought to get a job with CNN he'd fit right in!
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Where were you when Obama took food stamp use to record highs? Where were you when gas prices went up under Obama?
No one on the left has posted how food stamp use under Obama, as it hit record highs.
Mott the Hoople
Sweet Jane
Yeah I made money!
Yeah I made money!
Prove it.
Mott the Hoople
Sweet Jane
And I made Money!
They also won't talk about how the Market lost around 25% of its value during the Bush recession and that it was Keynesian policies that kept the market from completely crashing. A bitter pill as we all know that Keynesian economics is creeping socialism and that large supply side tax cuts for the rich would have fixed the Bush recession.