For once, I would like a GOP president to clean up their own economic mess

R's only mess up economy. D's have to fix it. Based on the last 30 yrs.

 

Greatest recession ever is a strong economy to you?

 

Why not "base" your opinion on the last 30 months? (D)'s haven't done anything to curb deficit spending, they've instead increased it. Pelosi just rubber stamped a non specific $5 tn budget. To do that, Pelosi had to waive $300bn in automatic sequestration cuts, lift spending caps, and raise the debt ceiling. All of the 2020 DNC candidates are promising multi trillion $$$ in aditional non essential spending. The the 2 or 3 that bother to explain where the trillion$ will come from, propose a 70 - 90% tax bracket. I guess the strong economy has purged their memories of shrinking tax revenues when corporate inversions, outsourcing jobs, and offshoring profits was the norm. Or maybe their just nostalgic. Make America Poor Again?

 

One line is all it takes to expose the blatant hypocrisy on the left.

 

Destroying economy's and leaving them in shambles for someone else to repair has been a Democratic trade mark since Jimmy Carter. And as a general rule of thumb the Democrats who have dominated the congress since 1932 fight those repair attempts tooth and nail.

 

I have asked him this same question before. There is no real answer but just mumbo jumbo of (to paraphrase) "tax cuts, deregulation, taking the government boot off people's necks etc" . As if any measures put in place in spring of 2007 would have been able to stave off the great recession that was in the works by blowing up a debt bubble for a decade.

That's the misconceptions, however, that you have to work out of people's minds. They think that policy effect are immediate because they want instant gratification. The GOP tax cuts give them this instant gratification, due to immediate money in the pocket. Paying the price for it will be delayed, and then can be blamed on someone else or the business cycle. it is quite a nefarious strategy, if you think about it.

 

Funny. The only ones talking about recession are leftists.. why? Because they are actively trying to undermine the economy because they have tried everything else to defeat Trump and have failed.

 

this isn't even true enough to be called horse crap.

 

We are discussing economics with people who think it is a great idea for the Fed to cut rates to 0% in good times.

 

The magnitude of the ignorance of that statement is breathtaking. Due to the financial crisis the Dow Jones lost 50% of its value. There were job losses of 500-600K a month. The credit markets froze. There was a world wide recession. 10M homes went in to foreclosure. Unemployment reached 10%. Did you sleep through all that?

There were a number of facets to the collapse but primary among them was the advent of no-doc loans created by what was essentially an unregulated shadow banking system. Lending standards became obsolete as non-traditional mortgage companies began securitizing bundles of mortgages in to what were a new type of security RMBS, or residential mortgage backed securities. These instruments were sold internationally as investment grade bonds after receiving AAA ratings from bond rating agencies like Moody's. In a low interest rate environment these bonds became very popular with pension fund managers because of their superior ROC and perceived safety being tied to the real estate market.
Since most of these loans were ARM's and given to people who never should have been loaned the money once the Fed began to raise rates people began defaulting on their mortgages as the payments became too expensive. This caused a cascading effect of lowering home prices (a glut of homes for sale) and depreciating the value of many RMBS bonds since the underlying mortgages became non-performing loans. To make matters worse, investment banks had made bets on esoteric derivative instruments like CDO's so their exposure to what was happening in the housing market was massive.
But........let's be honest........all of this is over your head. How could it not be for anyone who would have written "Residential housing hardly makes a blip on GDP, Bush recused the banks with TARP so there was no economic collapse."

 

so record low unemployment a rising gdp is a mess to the left?

 

The last time the Dems had Congress, every year the deficit increased and so did unemployment.

 

So you couldn't refute what I said or the point made.......gotcha. Did the banking system collapse? No.

 

So the Democrats were just helpless fools unable to government.

Well what DID they do to help mitigate the slowdown that turned to a recession that actually worked?

 

The recession didn't happen till a year later.

 

Here's what you wrote....."Residential housing hardly makes a blip on GDP, Bush recused the banks with TARP so there was no economic collapse"

Here's what happened......."Due to the financial crisis the Dow Jones lost 50% of its value. There were job losses of 500-600K a month. The credit markets froze. There was a world wide recession. 10M homes went in to foreclosure. Unemployment reached 10%."

You stand corrected. You really should do some reading about the period cuz your level of understanding about it is next to zero.

 

Must be true...you probably found it in a rightwing site.

 

This reminds me of the righties who complain that Obama RECOVERY of the economy was too slow. They don’t realize how funny it is that they are complaining about a recovery. It is like someone who gets cured of cancer complaining that the recovery is too slow. However they don’t realize that Obamas economic expansion was the largest month after month for years

 

And the largest economy I’d expansion. Again using the word recovery as though that is a bad thing. Republicans get us into a deep hole and then they complain that the Democrats are too slow getting us out

 

Well, all of the economic data for the past 40 years shows the above claim to be complete bullshit.

 

It’s empirical fact actually.

 

Because incompetence is expensive to fix, and takes time. The republican caused recession of 2008 is the worst on record in 80 years.

 

The Dems had total control of Congress in 2008 and the following two years. You know this.

 

Longest and weakest until the Republicans took back control. There was no hole when the Democrats took back the Congress January 3, 2007. Recoveries are GREAT THINGS when we actually have one. Obama's stimulus was supposed to hold unemployment to 8% and then aa rapid fall and string recovery. How'd that work out?

 

They had it starting January of 2007. But then this poster also claims former Presidents can still veto budgets too.