Quote:
Originally Posted by TheFix
President Obama continues his hard work in turning around the Great Bush Depression, while Republicans continue to whine, gnash their teeth, and stick to their failed ideology that says tax cuts for the über-rich and outsourcing American jobs to China will somehow miraculously create jobs.  |
oh please
obama has made it worse
bush was a screw up
but the problems we faced came from the clinton admin..his housing bubble and his nafta
there are TWO problems right now, that is causing 'wall street' to collapse............JOBS and HOUSING...and they go back to BEFORE bush
let this INFORM you, these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's
1993 NAFTA-originally pushed by Brezezenki and his puppet carter,,moved along by reagan----negotiated by another brezezenki puppet bush1--- passed in 1993 by the democrat controlled congress, pushed by clinton, signed by clinton-inceased with CAFTA by bush2--the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.(and obamy wants to increase it too,,,hmmm)
1995 clinton (through his chief of HUD (Henry Cisneros and later his second chief andrew coumo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-doc/low doc' mortgages-----the consequence ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years...EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership."
The above is the start of the mortgage meltdon: Clinton's National Homeownership Strategy
1996 clinton signed The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.) causing MONOPOLIES, which can RAISE PRICES
1998 clinton does not allow drilling for OUR OWN OIL..the liberals say 'it will take ten years before we seee the oil'...guess what its been ten years
1999 Clinton DEREGULATES the banking industry
2000 clinton signs the China trade bill
2000 clinton signs the Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)
2000/1 clinton pushes to get china into the world bank
2003/4/5 republicans try to reighn in fanny and freddie...the liberal opposition leaders (barney frank and cris Dodd) say "there is nothing wrong with fanny/freddy..its a witch hunt"........boy does barney have egg on his face now
1965 liberals push medicare....say it will only cost 10 billion by 1995....in 1995 it cost 100 billion...in 2010 it cost 500 billion AND CLIMBING
it aint the gop.....its the liberals that have cost us
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