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Yes TARP, Bush as I remember it, 'everyone should own a home', so as to strengthen the economy through home ownership. Fannie Mae and the like, took advantage of it. (imho) There needed to be an offset.
It was as if, there in the beginning of the Obama administration, that he was running with the Bush ideas in place for strengthening the economy. I also, think that is where the, 'it's Bush's fault,' came from, because Obama knew and some of us knew, he was not using original ideas of his own making.
My memory is horrid, so for me to be specific, is most difficult these days. Honestly there are days that I know I shouldn't even try to keep up, then a good day happens. Today, is not one of them.
Actually Bush tried to reign in Fannie and Freddie, and he was stopped over, and over again by the Democrats.. As for Bush claiming people should own homes.. thats factual.. What is wrong with that? Every president has called for that to take place.. Do you think Obama thinks the nation should be full of renters? How about Clinton? Can you name ONE president that didnt share that belief that people should be home owners? As a real estate investors, one question I demand to know when purchasing a property, whats the percentage of home owners in the zip code. Yes, it is a VERY important thing to know..
I wonder if people are feeling nostalgic for having Bush in the White House in order to blame him for the nation's problems - which he not only did nothing to solve but made considerably worse, and history will be very harsh on him and his presidency. This is NOT to say that Obama is doing a good job, he's not (and actually is continuing some Bush policies). But Bush was a much easier guy to hate.
After Spain returned to democracy there was a saying "contra Franco, vivimos mejor" (we lived better when we were against Franco) - it's easier to have someone really despicable to blame the country's problems on rather than someone who is more inept than evil. Note that the antiwar left has withered under Obama, and the libertarians are the ones keeping the antiwar movement alive. The ACLU's also suffered a drop in donations due to the mistaken belief that without Bush the government has started to respect civil liberties and civil rights more than it did in the last decade.
In Italy, there has been on average a new government every year since Mussolini. Many say Mussolini was better because we at least had a strong leader and a steady government back then. I think there is a component that admires people that are strong leaders. Bush made many mistakes but he was stubborn and held his ground. Foreign leaders and foreign peoples all believed in the threats Bush made. I was in England in 2005 and I saw a political program where the panel was convinced Bush was capable of ordering an attack on anything that came in his way. While maybe he was a war monger, the fact was that he was feared and respected overseas because he wasnt a man to be messed around with. Notice how bold Iran, North Korea, and Venezuela have been since Bush left. Under Bush, they wouldnt dare do some of the things they are doing now. Bush meant what he said and did what he said he would do when it came to foreign policy. While it was very aggressive and misguided, it did instill respect for our power. Under Obama, our country is not feared as much as a power because there is a feeling that Obama is not serious about fighting and putting pressure on foreign powers.
In the Clinton administration, Arabs would mock Clinton over Monica. In the Bush administration, they burned the American flag and threw shoes. I would rather be hated and feared than mocked.
You are correct, Bush was much easier to hate...by some. Too many people are trying to be pc in their way of talking about Obama. I believe many feel that they will be considered racist if they vilify him as they did Bush.
I would have no problem "villifying" a POTUS of any color if his blatant lies about Iraq led to these sickening stories....
Obama is not a good President. I would argue he is an awful President. But what makes me laugh is that how these same people who hate Obama somehow credit Bush when Bush was the person who created this mess. Bush IS the worst President in U.S. histoy. Let's examine what he did
1. Encouraged outsourcing of jobs to third world countries in 2001 and 2002 and did nothing to curb this when the first report mass layoffs started occurring. This led to millions of jobs ultimately being outsourced and helped create the massive unemployment you see today.
2. Did nothing to address the trade imbalance with China and other third world nations
3. Started the War
4. Did nothing to regulate the Housing Industry and Banks
5. Inhibited Stem Cell research
6. Did nothing to North Korea and Iran when their nuclear programs first began materializing
I agree that Obama has done nothing to alleviate these problems and has made the situation worse by increasing our debt with wasteful programs (the Stimulus, Obamacare) and not stopping the War as he promised.
But it's sad the partisan hacks who love both Obama and Bush when in reality both of them have been terrible Presidents.
1. Link?
2. Like what? An even weaker dollar that causes inflation and stagnation? Lower corporate tax rates? Outlaw unions? Dismantle the EPA, OSHA and the Labor Department? Start a Smoot-Hawley style trade war? We all want to bell the cat.
4. Bush warned of a systemic risk due to the size of the GSEs in 2001 and every year there after. He also sent TS Snow to Capital Hill in 2003 to lobby for a new and effective regulator to replace powerless OFHEO. Democrats in Congress blocked any reforms to include S.190.
5. Only embryonic stem cell research.
6. N. Korea became a nuclear power during the Clinton Administration. Iran is still officially a non-nuclear state. So what is O'Dummy doing to end their nuclear program?
Bush was mediocre at first, then became a good war-time president but finally became a big spender do nothing bending to Congress's will. Obama has never had to bend to Congress's will since it is his will as well to spend more money than has ever been done in human history. If "W" is bad, BO is terrible. What is far worse is that our children will face nuclear blackmail from Muslim terrorists because BO is allowing Iran to develop nuclear weapons.
Actually Bush tried to reign in Fannie and Freddie, and he was stopped over, and over again by the Democrats.. As for Bush claiming people should own homes.. thats factual.. What is wrong with that? Every president has called for that to take place.. Do you think Obama thinks the nation should be full of renters? How about Clinton? Can you name ONE president that didnt share that belief that people should be home owners?
No president before Woodrow Wilson thought it was actually achievable. Some probably thought it was a good idea but none thought it was something that could ever actually happen. The idea that America could be a nation of homeowners was one of those ideas that came out of the Progressive Era.
FDR was the first president to actually take steps to try to achieve it by creating the FHA, Fannie Mae, and 30 year mortgage loans to try to get economic activity going again and combat the Depression. Before the New Deal all housing loans were short-term which made homeownership impossible for most. In any case increasing homeownership has been the official policy of every US administration since FDR's.
Note that there are countries with higher rates of homeownership than the US which have fewer government policies like tax deductions for mortgages, subsidies, etc. than the US, like Britain and Spain. And Switzerland is overwhelmingly a nation of renters. Doesn't seem to hurt them too much.
Quote:
As a real estate investors, one question I demand to know when purchasing a property, whats the percentage of home owners in the zip code. Yes, it is a VERY important thing to know..
So, you'd prefer East L.A. to Beverly Hills, due to there being far more homeownership in ELA than BH?
Detroit has the highest ownership rate of any US city, think it's preferrable to NYC which has a pretty low rate of ownership?
No president before Woodrow Wilson thought it was actually achievable. Some probably thought it was a good idea but none thought it was something that could ever actually happen. The idea that America could be a nation of homeowners was one of those ideas that came out of the Progressive Era.
FDR was the first president to actually take steps to try to achieve it by creating the FHA, Fannie Mae, and 30 year mortgage loans to try to get economic activity going again and combat the Depression. Before the New Deal all housing loans were short-term which made homeownership impossible for most. In any case increasing homeownership has been the official policy of every US administration since FDR's.
So what you are saying, is that Bush isnt alone or to blame?
Quote:
Originally Posted by majoun
Note that there are countries with higher rates of homeownership than the US which have fewer government policies like tax deductions for mortgages, subsidies, etc. than the US, like Britain and Spain. And Switzerland is overwhelmingly a nation of renters. Doesn't seem to hurt them too much.
Which is the flaw in the left wings argument that government needs to assist everyone with things like college costs, housing costs etc..
Quote:
Originally Posted by majoun
So, you'd prefer East L.A. to Beverly Hills, due to there being far more homeownership in ELA than BH?
I wouldnt invest in either location due to cap rates and risk/reward, but if all other things were EQUAL, then yes..... Your comparison isnt even close because the other things arent "equal"..
Quote:
Originally Posted by majoun
Detroit has the highest ownership rate of any US city, think it's preferrable to NYC which has a pretty low rate of ownership?
I actually own a property in Detroit, and wouldnt look at NYC
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