Most Americans today need a lesson in American economic-history because they dont seem to have the factual event-history. What happened historically at the end of Bush2's term-of-office? Do you really know? Factually, it goes like this: *Obama took office and inherited the worst recession since the 1930s stamped "The Great Recession". Which was due to the SubPrime Mess wholly accountable to the Bush Administration that did NOTHING to either prevent or remedy its consequences! *Unemployment skyrocketed in 2009 because of the Great Recession. It reached an historical high of 10% in 2008 - see the historical reference from the Bureau of Labor Statistics (BLS) here. *The key data-points to see from then onward is also a BLS infographic called the Employment-to-population Ratio (E-to-p Ratio), which you will find here. In Jan. 2008, when Obama took office, the Employment-to-population (E-to-p) ratio was at 62.7. Obama had been handed by Bush the worst depression since 1929. *Note how the Ratio dropped precipitously in 2008 (Obama's first term in office) from 63% to 58.3% in December of 2009. And YOU THINK that was because Obama was PotUS, he was to blame? He was handed a pile of you-know-what from the Bush Administration. My Point: *What had provoked the Great Recession was the SubPrime Mess that Bush2 failed to react to sufficiently during HIS REPLICANT ADMINISTRATION! *What cured the US was the fact that Obama passed the ARRA-bill that spiked an exploding Unemployment Rate at 10%. See the BLS Unemployment History infographic here. Worst yet: *When the American people foolishly voted control of the HofR over to the Replicants in 2010-midterms they then refused any further Stimulus Spending - so no new jobs were created from 2010 to February, 2014! Also see that factual evidence in the infographic cited above! *That recession lasted from (in the E-to-p Ratio graphic) early Sept. 2009 to January 2014 - almost five long, long years. And so: The above is the factual historical&statistical evidence. Question them if you like - but I maintain that at the onset of the Great Recession the Replicants refused to restart the economy. Their intention was to see Obama's defeat in the 2012 reelection bid. It didn't work-out that way, but the Replicants could have cared less about the suffering of the American people. What the Replicants wanted was to put one of their own back in the White House! Many, many Americans continue to suffer today because of that egocentric power-policy. Hillary had won the popular-vote and Donald Dork was wrongly made PotUS by the Electoral College ...
Yes, Bush helped do it, but Obama rolled over, knowing economics he should have known putting 17T into the hands of the banks and punishing the people would not work. Now they are printing again, taking money from education and other areas to build a wall, putting up people in trumps hotels. So deep of corruption and the big businesses, senators, pelosi do or say nothing. So many tangents you dont know where it starts and begins... Obama turned out to be a guy that wanted to get rich, nothing more, and those rich shield him from reality. Larry Summers is a deep corrupt zionist along with many others that do NOT care about Americans.
Blah, blah, blah. Every word above is pathetic DRIVEL with no basis whatsoever historically. They are the product of a simple mind. Where were you when the Great Recession happened and unemployment exploded to 10%! Where? Obama did what was necessary in such a condition. He kick-started the economy with expenditure (called ARRA). Where were you when ARRA was passed the effect of which was to bring the national unemployment rate drastically down*? In diapers ... ? *See the BLS Employment-to-population Rate chart here.
You cherry pick a biased source(s) then come on here acting all knowledgeable about the issue? https://www.usnews.com/opinion/blog...rats-were-wrong-on-fannie-mae-and-freddie-mac Government policies prior to Bush didn't have anything to do with the issue? https://www.businessinsider.com/how-the-government-caused-the-mortgage-crisis-2009-10 https://georgewbush-whitehouse.archives.gov/news/releases/2008/10/20081009-10.html
It wasn't either entity (mentioned above) that caused the Great Recession of 2010. From here: The Great Recession of 2008 explanation with dates Banks had thought 'it was good business" to recuperate mortgages from non-payers and simply remortgage the property. It was a good business ... that is, until it caved when the Great Recession arrived ....
