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globalist liberal policies going back to the early 90's are what caused the recession
the 'great recession' was due to liberal policies of offshoring jobs and easymoney housing
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 OUTSOURCING through NAFTA(and the other 2 dozen 'freetrade agreements)----------------originally pushed by Brzezinski and his liberal puppet carter,,moved along by Reagan's VP bush1----negotiated by another Brzezinski 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 Obama ahs increased it too, not only as Senator Obama with OFTA, but also as potus Obama..............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 meltdown: Clinton's National Homeownership Strategy
those are the two biggest causes of the great recession
then add these to the perfect storm:
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
2000 clinton signs the China trade bill
2000 clinton signs the Commodity Futures Modernization Act of 2000.
2000/1 clinton pushes to get china into the world bank
2002 bush and medicare part d...., bush giving the liberals more big government
2002-present.... the wars in the middleeast
2003/4/5 republicans try to reign in fanny and freddie...the liberal opposition leaders (barney frank and cris Dodd) say "there is nothing wrong with fanny/Freddie...its a witch hunt"........
2007 liberals raise the min wage...adding to the perfect storm..the final straw of the perfect liberal storm
BTW... I included bush's(who was quite liberal too) screw-ups too...
BTW the 'recession ended in june/july of 09...before ANY of obozo's policies could come into effect....
Which administration did the crash happen under? And how long was that administration in power before it happened? Also please elaborate how democrats created the subprime mortgage crisis. Is you need help understanding this, please let me know.
Which administration did the crash happen under? And how long was that administration in power before it happened? Also please elaborate how democrats created the subprime mortgage crisis.
Everything you need to know, all documented with links, in this post:
This is how his supporters think too. If you believe in the bootstraps rhetoric, you believe that the rich got that way because they are smarter and work harder than the poor.
And if you personally aren't rich, it's because the poor are stealing your hard earned money by buying steak with food stamps.
Entirely consistent with rural Republican philosophy: "Wealth reflects virtue, and the reason we're poor are those damn lazy liberal cityfolk mooching off us and getting our honest, hardworking menfolk hooked on heroin"
"Now comes the part where I relieve you, the little people, of the burden of your failed and useless lives."
So you agree that the repeal of Dodd frank and hiring billionaire to the cabinet is leading America into a right direction?
Dodd-Frank didn't fix what caused the financial crisis. I explained quite clearly what did. And, yes, a billionaire should be in that post as US Federal spending is approximately $4 trillion/year, and GDP is $18.5 trillion.
What have the democrats done to hurt the economy?
We went from 10 Trillion Dollars in Debt to 20 Trillion Dollars in Debt (in 8 years).
Last time I checked record low unemployment
Lots of McJobs available.
and fast recovery under Obama.
Uh....Yeah, if you throw 10 Trillion Dollars at an economy, some of it will stick and we'll see a "recovery". Unfortunately, there were minimal Capital Improvements done, so we have little to show for this spending. Obama and the Dems were like a Rap Group partying at a Strip Club for 8 years. In fairness to him, his predecessor (Bush 2) was nearly as bad.
Ironically the Economy would have "recovered" on it's own, it always does...(like it did in the early 90s on the West Coast and like it did in the mid 80s in the Oilpatch and Central US). He could have spent a couple of hundred million "helping out" & "softening the fall" and accomplished the same thing.....instead, he & Bush 2 listened to the leaders of Chase, BofA and Goldman Sachs and p*ssed off a few Trillion.
Also incomes went up under Obama.
Income went up minimally. But not enough to offset the the increase in Health Insurance Premiums (caused by Obamacare). My family's health insurance bill went up 9K per year.
Obama's administration was an Economic catastrophe on 6 different levels. This is what happens when you make a Socialist Community Organizer as Commander (& CFO) in Chief.
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