Let's cut the bull shit and get down to the truth. The beginning..

Discussion in 'Politics' started by PredFan, Jun 22, 2012.

  1. PredFan
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    PredFan Gold Member

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    Let's see if this group can actually do this. I want us to get to the root of problems and weed out the truth. Not the truth according to the left or the right, but the truth.

    I am conservative but not an idealogue. If we can get to the truth here, I can accept it.

    First issue on the table:

    What caused the recession?
     
  2. slackjawed
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    slackjawed Self deported

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    I can honestly say I don't know.


    I suspect there were a lot of different things that factor into it.


    But honestly, I, as a real person, do not know.


    hows that for unbiased truth predfan?
     
  3. g5000
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    g5000 Diamond Member

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    Short answer: A global derivatives speculative bubble.
     
  4. PredFan
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    PredFan Gold Member

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    I'll offer my view first:

    It was a combination of greed (banks, investors, consumers), and political posturing.

    It all stemmed from the housing market. The fault lies in many areas, the CRA, deregulation, a sense from the common man that there was no limit, and politics.

    Not any one person or any one political party is to blame, except that there is plenty of balme to be assigned if we just have to assign blame.

    I am no economist, I am no housing specialist, nor am I a political science major. These opinions that I have laid out are borrowed from another smarter person who also said it more eloquently. I am starting this thread to hear something lie that again. To get to the bottom of the issue.

    I welcome input from all sides.
     
  5. PredFan
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    PredFan Gold Member

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    It's honest. I didn't know until I heard from someone else. I hope that in this thread we can get the answers.
     
  6. Black_Label
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    Black_Label Registered Democrat

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    The REAL truth, is what we had under Clinton created the most booming economy we have ever seen. Everyone pays their fair share, we support those that are the real job creators, small business, and support those that make american great, the middle class.

    From Clinton's strong progressive view the economy skyrocketed, we had the biggest surplus in US history, employers were nearly begging people to work for them, 10$ an hour to start signs in McDonald's windows,...it was great times.

    From there W came into office and decided to throw Clinton's game plan to have the nation debt free into the trash and decided to go back to the proven failed GOP "trickle down" economics. Once enacted things began to plunge.

    Now that W slashed revenues, he decided to go on a spending spree by enacting medicare part D, and going to war with afganistan, and the big one, the false war in Iraq.

    To insert the cliffs notes, Bush also allowed the big banks to run wild with predatory loans, destroyed the housing market, enacted TARP giving trillions to bail them out, and so the frat boy party is over, leaving the nation in shambles because of the republican way of doing things.

    Simply put, the economic crisis was caused from the GOP slashing revenues, while at the same time spending like lunatics.
     
    Last edited: Jun 22, 2012
  7. PredFan
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    PredFan Gold Member

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    Which is french to me, lol.

    I have a feeling that yoi are pretty accurate in your answer. Perhaps someone could elaborate.
     
  8. PredFan
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    PredFan Gold Member

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    I don't agree that this caused the recession. For one thing, Clinton enjoyed then benefit of luck. He was potus during the Dot Com boom which had absolutely nothing to do with him or his policies. I am pretty sure that it was the housing situation that caused this mess. I am sure because people smarter than me have stated such. I won't totally discount your theory, but I'll have to hear more than that to convince me, and your avie kind of detracts from your credibility.
     
    Last edited: Jun 22, 2012
  9. Pheonixops
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    Pheonixops Proud Liberal

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    In my opinion, it's simply part of the economic cycle. I could be wrong but it seems to happen after a good run or "boom" of the economic cycle. Use the Housing Market as an example, there was a big "boom" or "bubble", a recession, depression, and now a slow recovery. Afew years from now the cycle will start all over again.
     
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  10. dilloduck
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    dilloduck Diamond Member

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    credit.
    If people (or governments) could not borrow money there would be no problem.
     

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