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The housing bubble spike began in 2006... EVERYBODY knows this... either you're in your own fantasy world... or in complete denial...
Since everyone knows this surely you can produce one sentence from a source other than you that says it. Actually everyone knows it started around 1997 and I can produce 100's of documents. But I am enjoying your repeated insistence without producing anything. I think it is quite instructive for everyone. By the way where are my BLS numbers? You remember you told us unemployment was going down. Or is that something else everyone knows (except BLS).
Last edited by shorebaby; 10-13-2010 at 05:45 PM..
No... the housing bubble started in 2006... by sub-prime lending... during the Bush years...
You clearly have no idea what you are talking about.. The Conservative Origins of the Sub-Prime Mortgage Crisis | The American Prospect But starting in the mid-1990s, sub-prime lending began surging; these loans comprised 8.6 percent of all mortgages in 2001, soaring to 20.1 percent by 2006. Since 2004, more than 90 percent of the sub-prime mortgages came with exploding adjustable rates.
Quote:
Originally Posted by HC475
Gee... Unemployment goes from 4% under Clinton to 10% Unemployment at the end of Bush 2...
Unemployment for most of Bushs term was around 5% until Democrats took over Congress
Glad to amuse you... but you're still wrong and are skewing the facts in your blind devotion to a Republican Party that doesn't care whether you live or die...
Well, let's see, the Republican-controlled Congress raised taxes in April 1930 in the middle of a recession, and then on top of that, enacted destructive protectionist tariffs and those two laws effectively initiated the Great Depression.
The Democrat-controlled Congress can allow the Bush tax cuts to expire and then ram that other piece of legislation through, the one that will supposedly stop "off-shoring" and which is essentially a protectionist tariff, and we'll see what happens.
It was a slow steady raise as is expected in real estate... the housing bubble began in 2006 during the sub-prime frenzy... applauded by G.W. Bush...
The sub prime loans were created in the mid 1990's
Quote:
Originally Posted by HC475
The graph clearly shows the housing bubble spike started in 2006
Wrong.. the graph clearly shows that the spike started in 1996-1999 depending if you use the adjusted for inflation price or not. The BURST started in 2006.. They are NOT the same..
Quote:
Originally Posted by HC475
obviously because of sub-prime...
Wrong.. the burst started in Switzerland with AAA credit mortgages. Nice try but try learning..
The unemployment rate was 5.76% at the end of 2008, not the 10% you claim:
The United States Unemployment Rate By Year (http://www.miseryindex.us/URbyyear.asp?StartYear=1990&EndYear=2009 - broken link)
Unemployment is a LAGGING economic indicator. The stock market is a leading economic indicator. The stock market had started a serious decline in late 2008 and it preceded until March 2009.
Interesting enough the stock market is on a nice little roll. There have been some very positive Q3 earnings reports. It has been up about 20% since President Obama took office. Compare this to the 24% decline from the day George W. Bush came into office in 2001 until the day he left in January 2009.
I put up legit graphs for that too... EVERYBODY knows Bush turned a surplus into a $1 TRILLION deficit...
Only those who want to ignore facts and buy the bs from the Clinton administration "knows" this.. Anyone who actually looks at ACTUAL FEDERAL DEFICIT NUMBERS can CLEARLY see that there WAS NO SURPLUS UNDER CLINTON.. BORROWING MONEY DOES NOT CREATE A SURPLUS..
Unemployment is a LAGGING economic indicator. The stock market is a leading economic indicator. The stock market had started a serious decline in late 2008 and it preceded until March 2009.
Bull crap.. the stock market rose 52% during the great depression.. and unemployment rates were 10% or higher for over a decade..
The Bush tax cuts resulted in a reduction in the deficit from 2004 to 2007 and then the dems took over and increased spending.
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