Remember, in 2006 the unemployment rate was 4.6 percent. That same media did not say a word.
Ow! Fuck!
Unemployment rate falls to five year low - NBC News
The unemployment rate dropped to a five-year low of 4.4 percent in October as employers added 92,000 new jobs — flashing a picture of a strong labor market as the midterm elections draw near.
And according to the MessiahRushie of these mindless drones, that is how the "Liberal" media "TALKED DOWN" the super Bush economy into a Bush Depression!
Lets see. Economy doing well under republicans, according to these liars the liberal media even hyped that the economy was doing great under republicans and the liberals decided to vote in democrats.
Then, only after the democrats took over the purse strings, the economy went into a nose dive. Of course the morons blame the republicans even though they claim the liberal media reported the economy was doing great under republicans.
Wow. Holy shit they are srupid.
My, are you ever retarded. The economy did so well in 2003-2006 because of the housing bubble. The bulk of the toxic loans were one percent ARMs which were fixed for the first 30 months. In 2003, the federal fund rate dropped to under 2%. It fell to 1% in 2004. Trillions of dollars were flooded into the economy by people who either made huge profits from selling their artificially inflated homes or by taking out see on mortgages. That's what fueled the economy you bragged about.
But 30 months after those loans were written between 2003-2006; between 2005-2008, people began losing their homes in significant numbers when their 30 month term expired and interest rates had gone up to over 5%. That is what crashed the economy.
Idiots on the right, like you, then turn around and credit Republicans for the boom but then blame Democrats for the bust. Some are sooo stupid, they'll blame Barney Frank because he was on the wrong side of the issue, as if one member of the
minority party could have stopped the
majority party Republicans from creating that mess.
Some are even dumber than that and will blame the then 30 year old CRA, even though it was subprime loans which wrecked the economy, not CRA loans.