Hafar1014
Diamond Member
- Sep 1, 2010
- 12,784
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I lived through these disasters. Democrats destroy the economy and blame the GOP. The most recent example is the Biden disaster. They do it the same way every time. A massive expansion of government based on debt spending and printed money.Okay, now you are repeating whatever you heard on Hate Radio like an original idea.
First, the "Stagflation" that Carter inherited had been going on since Nixon, and it was a combination of Boomers entereing the workforce and a major decrease in military spending after the Vietnam War wrapped up. Carter's leadership was ineffectual, to be sure, but he certainly didn't cause that problem.
The "Dot.com" recession didn't start until Dubya was in office. Argument fail. I think you also fail to understand what caused that recession. It had little to do with the "dot.coms" and a lot more to do with the fact that most companies were carrying too much inventory compared to demand.
The SECOND Dubya Recession was caused by the housing collapse, but Bush had been in charge for nearly 8 years at that point, and EVERYONE warned him the banking sector and overpriced housing markets were a problem.
It was not caused by the "Community Reinvestment Act (which was put in place in the 1970s). CRA loans were heavily regulated. The problem wasn't poor people buying houses, it was middle-class people buying houses they couldn't afford on the hope of flipping them after a few years. That works fine until everyone realizes that houses are overvalued and we built too many McMansions.
The CRA forced banks to have quotas of bad loans mainly from the black community. The goal was to have more blacks owning homes. The opposite happened. Democrats controlled both houses under Bush. Barny Fwank was the butt boy for a Fanny Mae CEO, Chris Dodd was taking bribes from Country Wide Mortgage. They both blocked reforms that could have prevented the mortgage recession. Both refused to run for election