TARP was the response of the federal government to restore "Confidence" in the Banking System. No other measures were proposed to restore "Confidence" to the rest of the economy. When no other measures were proposed, then responsibility for it all happened!
In the absence of the federal attempts, then clearly Private Sector, Upper Management panicked, and then the self-fullfilling, job-cuts, job-losses cycle was underway. There is no such thing as a business cycle, but there are all kinds of other kinds of cycles. Some or motorized, and and some are not. That aside, when the other ones do get started, they are very hard to stop.
The Great Socialist, Central Planning concept helps prevent that. The Keynesian approach is only there: To try to turn it around.
Bush-Cheney-Paulson-Boehner-McConnell GOP did neither of the above. They sent a lot of money to the bankers who didn't need it, in the name of "confidence-building," and the bankers paid a lot of it to themselves. That is another sector, responsbible for it all.
There was $52.0 tril. in the Total Credit Market, theat even the Apparent New Speaker of the House does not believe in. He had a 15 year mortgage once. The Federal Reserve does not explain the credit marekt very well. The Press Corps doesn't seem to know it exists. And as for the schools and economists, that generally goes without even being said at all--time and again, even before Karl Marx, and even after Karl Marx suggested it be centralized. Groucho had trouble with the concept of cashing the credit-based paychecks. Sammy Davis, Jr. had trouble with the concept of paying even American Express. The British Prime Minister was trying to explain the credit market, nearly three years ago. Ronald Reagan mainly spent a lot of money on microphoines, and immediately "forgot," as in lied about, what he had said.
The Obama Administration was responsible for the Democratic Loss of House, the many state races, and the few Senate Seats. It was responsible for the Dramatically slow pace of the recovery: All things considered. Anyone knows(?) how that happened.
One Third of the Stimulus went to the payrolls of government employees, as though they had a first claim entitlement to it. Bags of Shit who slaughter human beings, like the teachers doing wrong things, and right in front of little kids--drawing fixed percentage pay raised incomes--actually caused the downturn, and then kept the money, just like when they kept the warbucks. This is more of the responsibility for the downturn. Arithmetic discussions are not allowed in the schools, now going on 35 years.
Facts of the matter aside, the Obama money did not go to the creation of a state and local tax base, arising from customers spending money in the stores., or creating new and hefty incomes. That comes from projects, creating jobs. One third of the stimulus was preservative, only. Nothing new was created. Another third of the stimulus went to doctors, nurses, and hospitals. No new tax base was created.
A sense of entitlements, of a first claim, to any money, was created. That leaves only the Schedule M tax credit--A Stimulus Tax Cut--and some late starting infra-structure, and occasional federal projects, such as roofing some shitters in the mountains: To Re-start the economy, in a $52.0 tril. credit market! Anyone might think that a person of colo(). . . Somebody not too up on things was in charge!
Now clearly, anyone knows that re-engages, Bush, and Cheney, and Paulson, and Boehner and McConnell both keep their jobs, and one gets promoted for it!
"Crow, James Crow: Shaken, Not Stirred!
(Many White Eyes Not Come To Lands of Many Nations. . .With Trinkets Games! Pump Priming Squaws Not Included In That!)
