Bush Crashed the Economy and other lame excuses

Discussion in 'Politics' started by CrusaderFrank, Dec 23, 2012.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Democrats can you please tell us in your own words how it is still possible that the Obama economy continues to suck because of Boooooooooosh?

    Let's review:

    Lehman Brother collapsed first, they're gone these 4 Christmases past

    Bear Stearns was a weak sister, they're gone these 4 Christmases past

    Merrill Lynch: a subsidiary of BofA these 4 Christmases past

    Fannie? Freddie? Sucked up $200B of Capital and totally dominate the residential mortgage market

    Banks are profitable, so what exactly are you talking about when you mindless parrot Obama's talking points?
     
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  2. Plasmaball
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    Plasmaball Gold Member

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    i just want to watch this thread fail and Frank drag out old talking points.
     
  3. Mac1958
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    Mac1958 Platinum Member

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    .

    The Meltdown was decades in the making and cultural in its DNA.

    I haven't posted that one in at least a couple of weeks, love to drag it out now and then.

    .
     
  4. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    If you wanna' blame any one person for the Economic Crash of 2008, blame Hank Paulson.
     
  5. Toro
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    Toro Diamond Member

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    Why? What did Paulson do?

    If anything, he saved us from Great Depression 2.0. Bush and Paulson along with Bernanke get more credit for saving us from going over the abyss than anyone, including the Obama administration.

    There is no one single person responsible for the Financial Crisis, but the man most culpable is almost certainly Greenspan.
     
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  6. neomalthusian
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    neomalthusian Agnostic Prognosticator

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    Using our money, yeah? Gee, thanks Hank! Seriously, that borders on a broken window fallacy. If someone damages my property and then takes it upon themselves to debit my bank account to repair it, did they save me any money? No, they still caused me to lose property.

    That I agree with. The housing bubble pretty much was our hangover cure from the stock bust. Except it didn't cure the hangover, it deferred it and made it worse. Greenspan was essentially the ringleader for that. Bush and various others helped too.
     
  7. Toro
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    Toro Diamond Member

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    The Broken Window Fallacy is a fallacy as applied to the Financial Crisis. Bush, Paulson and Bernanke stopped a giant run on the financial system, plugging enormous funding gaps and halted a repeat of the 1930s. History will vindicate them.

    History will be much less kind to Greenspan and, I imagine, Bernanke for his repeated monetary experiments. But he gets full credit for the first QE, which created a market for mortgages and money funds when there were no bids.
     
  8. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Just to be fair.... Boosh did do his part to kick our economy in the nads.
     
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  9. Billo_Really
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    Billo_Really Litre of the Band

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    The ones guilty of financial fraud have not been prosecuted and held accountable and therefore, the economy will not recover until the rule of law has been re-established in that industry, like we did with the S&L scandal.

    That, plus the Bush tax cuts for the rich and the two wars he started, make up the rock from which the economy cannot get out from under. Obama throwing the middle class under the bus by cutting entitlements, is the nail in the coffin.
     
  10. neomalthusian
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    neomalthusian Agnostic Prognosticator

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    Preposition fail.

    I think you're looking at this a little too simply. You seem to be identifying single policies and deciding if they made the economy "good," or if they made the economy "bad." There's no linear causality with this stuff. Tax cuts are temporarily stimulative. Increasing federal spending can also be temporarily stimulative. If you overdo it with either of these, you will eventually run into fiscal problems. So on and so forth, the point is this is all very dynamic and complex.
     
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