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Markets always correct themselves as bad business goes away. Housing Market is a good example of a slow, but steady growth as inventory shrinks across the country.
Inherited by Bush, not by a long shot. Was it on GW watch? yes.
But as I posted previously Bush went to Congress 17 times investigating Fanny Mae and Mac. AS we know by know Senior Dem. Leader Ship protected Franklin Rains. Rains lied to Congress on the State of Home Loans. Acorn set the tide for non realistic loan guidelines when they sues Bank of America.
Obama Adminstration being proactive in fixing the Economy, not really. Sad! His Adminstration stats paint a very weak recovery compared to Bush and Reagan.
The housing collapse was not so much caused by non-realistic loan guidelines as by the failure of lenders to FOLLOW the guidelines.
Were the guidelines too loose?
Possibly - but we'll never know because - loose as they were, they were not even followed. The core of the problem leading to the collapse was that lenders had no "skin in the game". Far too many loans were being made by lenders who had no intention of holding the loans but instead, intended to immediately sell that loan to someone else. This meant the initial lender had no real incentive to make sure the borrower could really afford the loan and every incentive to make as many loans as possible. They didn't care about the risk because they always intended to pass that risk on to someone else. Consequently they didn't follow the guidelines. They made loans to people they knew could not afford them and they pressured assessors to assess homes at whatever price the seller had listed - this inflated home prices and pumped high-risk borrowers into the system (a REALLY bad combination).
Obama has been PLENTY proactive - and the rate of the recovery has been on a par with the recovery under Bush in the 2001 recession. If you don't believe that look at the angle of descent of the UE rate for the 2 recessions on a graph - the UE rate fell at the same angle for both. It's remained higher under Obama because it was a harsher recession to begin with (even before he stepped into office) so it had much further to come down - but once recovery started the UE rates have come down at pretty much the same pace.
Was it a slow recovery compared to Reagans'?
Sure - but it's a completely different world today. Back in Reagan's day, there was virtually no competition from "cheap-labor" countries like China for U.S. manufacturing jobs because those countries were wayyyyyy too backwards to be able to compete with the U.S. Today is different, the world has modernized and places like China, India and Vietnam have highly-skilled and educated workers, as well as modern infrastructures to be able to produce goods cheaply and reliably. In addition, modern technology such as cheap international phone rates and the internet make it possible for work to be done overseas and be overseen and managed from here in the U.S. Those technological advances - along with the cheap and educated overseas labor available - make it much more attractive to business to offshore work to inexpensive locations. Reagan didn't have that situation. Bush did (his Presidency was the first to see that kind of development in the forner "third world") and it was reflected in the slow rate of jobs coming back after the 2001 recession (that recession was the one where the term "Jobless Recovery" was coined - a lot of people forget that today).
True they can pass bills that are so Partisan that the President will veto them and know what the voters will know the problem is not the President but Congress, as they have known for years now.
Reid is the holdup. The House passes bills, and Reid stalls them in the Senate. That's a Dem problem, not a Republican problem.
Funny how you speak of forcing the President to work with the Repubs yet the Repubs have refused to work with him for 6 years, clue: he is not running for re-election hence he does not have to work with those that will not work with him, he has nothing to lose by standing his ground. I have a better idea why don't the Repubs pass a viable and workable Budget and present it to the President and then the Nation wins, or would that be too much to asked of the Republicans?
The polls pretty much agree no matter which poll is used, so yes they are probably fairly accurate on this.
As already noted, the problem is another Democrat: Senate Majority Leader Harry Reid.
In the last 30 years, no pre-election predictor is as accurate as IEM, and in the 20+ years I've followed those markets, 52-55% is virtually a guarantee. The Dems losing the Senate is running at 82% today, and the GOP gaining seats in the House is currently at 96%. In predictive polling tools terms...it's a slamdunk that Obama is lameduck his final two years.
The trend lines since June are just silly. FFS, look at damn near any poll not conducted by the DNC, and it is similar in slope, timing, etc.
2014 will be bad for the Democrats, and all Republicans have to do is simply record every time Obama talks, turn it into a quick 30 second "See how bad they ALL are!!" ad, wait for November.
The part of your quote in bold makes me cringe a bit.
Why do we need NEW bills passed to "run the Nation and get the economy back on track"?
Why not just tighten our belts (the country is so far in debt that we are for all practical purposes broke) and enforce the law as it stands? I for one am tired of bills that are supposed to magically help change everything.
Stop spending and creating more Government. Work to make Government smaller and less expensive to tax payers. How about that?
Problem with your thought, which I agree with by the way when it comes to tightening our belts and smaller government, Neither Party is going to do either. The sooner you realize that, the better informed you will be, maybe when enough Americans realize that fact the sooner we can change the way things are done in Washington, that is unless we wait too long then we get a "And that's that for the experiment called the USA, what's next".
You're trying to tell someone who thinks the GOP helped pass Obamacare.
By not fighting it to the death they did. Welcome to reality. Now what is the grand plan to replace it, don't even think about going back to what we had, that is not one of the options?
By not fighting it to the death they did. Welcome to reality. Now what is the grand plan to replace it, don't even think about going back to what we had, that is not one of the options?
You're funny.
Not one vote... welcome to reality.
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