I guess Toro has no answer to his claim of Obama slowing the recovery.
Corporate executives are saying that several new policies such as healthcare reform and Dodd-Frank have increased uncertainty and thus investment and the recovery.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
I guess Toro has no answer to his claim of Obama slowing the recovery.
housing market is doing fine here where I live.
Actually it didnt last long because Bush has a GOP Congress to deal with. Things went downhill after '06 and the Dums got in power, screwing everything up. A trend they've continued.The 2000 recession didn't last very long because Bush wasn't in office long enough to lead the country into the worst recession since the Great Depression.None. But we haven't seen a housing collapse like this one since The Depression either. That's to be expected.
It should be noted that the prior recession lead to the weakest recovery since The Depression prior to this one. But that too was a balance sheet recession caused by the collapse of the Tech Bubble
We had a housing collapse in 1990 as well, starting with a change in tax law in 1986.
The 2000 recession was only 8 months long. And it was marked also by a large amount of gov't intervention.
As James Grant writes in The Trouble With Prosperity, the more the gov't tries to ameliorate the effects of a recession, the worse they make the recovery. This is why this recession's recovery has been so anemic.
housing market is doing fine here where I live.
That's because the government pays for it all.
housing market is doing fine here where I live.
That's because the government pays for it all.
no, It's not like the Kikes in Israel that get free homes because they need more soldiers to kill off kids.
Actually it didnt last long because Bush has a GOP Congress to deal with. Things went downhill after '06 and the Dums got in power, screwing everything up. A trend they've continued.The 2000 recession didn't last very long because Bush wasn't in office long enough to lead the country into the worst recession since the Great Depression.We had a housing collapse in 1990 as well, starting with a change in tax law in 1986.
The 2000 recession was only 8 months long. And it was marked also by a large amount of gov't intervention.
As James Grant writes in The Trouble With Prosperity, the more the gov't tries to ameliorate the effects of a recession, the worse they make the recovery. This is why this recession's recovery has been so anemic.
I guess Toro has no answer to his claim of Obama slowing the recovery.
Corporate executives are saying that several new policies such as healthcare reform and Dodd-Frank have increased uncertainty and thus investment and the recovery.
I guess Toro has no answer to his claim of Obama slowing the recovery.
Corporate executives are saying that several new policies such as healthcare reform and Dodd-Frank have increased uncertainty and thus investment and the recovery.
and they have nothing to gain by claiming this?
Actually it didnt last long because Bush has a GOP Congress to deal with. Things went downhill after '06 and the Dums got in power, screwing everything up. A trend they've continued.The 2000 recession didn't last very long because Bush wasn't in office long enough to lead the country into the worst recession since the Great Depression.
Home prices did not go anywhere near as crazy in the 80s and 90s as they did in the 00s. The decline was nowhere near as dramatic in the 90s because valuation never got as nuts.
Case Shiller Home Prices | Flickr - Photo Sharing!
It's not always about politics.
Corporatists expect to make profits in excess of output and take it out of the middle class.
They have learned how to do that since the 1980s.
First off, we didn't have a housing depression. We had a credit crisis brought on by the debacle in the subprime mortgages. Rising unemployment and the banks unwillingness to make loans caused a collapse in the new housing market. This all happened before Obama took office. Allowing banks to foreclose faster would just have made the problems even worse.This is so true, we are in a housing depression because BO has prevented recovery by eliminating the free market in housing. Had it been allowed to work the market would have cleared long long ago and the economy would be booming now.
Um, no.
Rising delinquencies caused banks to increase criteria. BUt that isn't the real story. The real story is as Ed outlined: beating up on the banks and offering program after program for delinquent homeowners, who defaulted at an 80% rate anyway. This kept the market from clearing.
This is unlike what the Feds did in 1990 when we had a similar housing crisis. There they auctioned units off for pennies on the dollar, clearing the market within about 18 months, and allowing prices to start rising.
Actually it didnt last long because Bush has a GOP Congress to deal with. Things went downhill after '06 and the Dums got in power, screwing everything up. A trend they've continued.
Home prices did not go anywhere near as crazy in the 80s and 90s as they did in the 00s. The decline was nowhere near as dramatic in the 90s because valuation never got as nuts.
Case Shiller Home Prices | Flickr - Photo Sharing!
It's not always about politics.
The magnitude is not very important. What is important is what happened to correct the situation. In 1990 the gov't took over failed S&Ls and auctioned their inventories. In 2008 the gov't propped up homeowners and bailed out banks.
There's the difference right there.