|
Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
|
|
|
Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
|
In Reply to: Even funnier. posted by Rick W on August 28, 2020 at 11:04:49:
Presidents don't really have much impact on the economy. The policies that caused the 2008 recession were the result bipartisan policies for years in the making and Wall St greed. Fannie Mae was directed by Congress to make home loans to people that couldn't afford the houses. Then, these bad loans were rated as AAA and sold. Of course, the CDOs were worthless when the housing market bubble burst causing the financial crisis. Fed policy was also a major factor with Greenspan's arrogance that the Fed could control the economy and avoid recessions.
Clinton was lucky with the Dot.coms and the Y2K tech boom with a great economy. Then, Bush got the Dot.com bubble burst recession and later, the financial crash. For small business, it felt like a depression. Our 401K became a 201K over night and the market didn't get back to it's previous highs until 2014. The recovery was the worst in modern times and I believe that Obamacare was a major drag on growth and small businesses. I know that our health insurance tripled.
Economic cycles are as natural as the weather. Unfortunately, the Fed believes that they can control the economy with their policies which can extend growth phases, but eventually also cause bigger crashes.
Whether a Democrat or a Republican is in the White House when it happens is largely just luck or bad luck.
-Rod
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- Get real.... - Rod M 08/28/2012:37:27 08/28/20 (0)
Top of Page ]
[ Contact Us ]
[ Support/Wish List ]
[ Copyright © 2024, Audio Asylum, all rights reserved ]
