The President with the worst average unemployment rate since World War II is?

[edthecynic]

So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter

Unemployment was at a steady 7.6% when Carter left, and St Ronnie jacked it up to 10.8% by the end of 1982.

 

[healthmyths]

The 8.86% figure is from an earlier point in his Presidency. This list gets updated in this thread sometimes every month. The current list is here:



Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.52%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%

It is based on the MONTHLY unemployment rate.

I see you corrected the previous rate you posted, but you must realize the average is actually meaningless, unless you also post the change in unemployment rate.

For example, someone who inherits 4% unemployment, and leaves with 8% unemployment can have an average unemployment rate of 6%

Somebody else inherits 8% unemployment, and leaves with 4%, also can have an average unemployment rate of 6%.

But one doubled unemployment, while the other cut unemployment in half. But the average doesn't tell you that.

Yeah, some people just can't be bothered with such pesky details.

Anyone who says Bush did a better job than Reagan in terms of unemployment needs to have their head examined.

For most of the time W was in office, it was easier for the average person on the street to get a job than it was when Reagan was in office. That is just a fact.

Half a fact....
Remember the Misery Index that Reagan inherited from Carter?
Let's see because I lived through it!
US Misery Index - Index by President
The end of Carter and start of Reagan the HIGHEST in history at 19.72!
So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter and I stupidly enough voted for Carter the first time! Thinking this very smart nuclear engineer could be a good president. Instead we got the "sweater talks"... etc. Look up Carter "sweater talks"!!!
View attachment 138371

Stop lying. Unemployment was not at a historical high when Reagan became president. It was higher when Obama became president.

Now who was the President in Jan 1 1983????? Ronald Reagan!!!!
So please get your FACTS straight before calling people a LIAR!!!
US Unemployment Rate by Year

 

[healthmyths]

So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter

Unemployment was at a steady 7.6% when Carter left, and St Ronnie jacked it up to 10.8% by the end of 1982.

Geez... you guys never seem to comprehend what it takes to turn around an economy!
Dummies let me make a simple illustration!
How long does it take a million barrel oil tanker to turn around? Almost a mile.
And so it takes TIME dummies to overcome an economy in the doldrums as it was after Carter, the oil crisis...(You people are not old enough to remember GAS LINES???)
So when Reagan took office IT TOOK time to overcome the inertia of the economy!

 

[edthecynic]

So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter

Unemployment was at a steady 7.6% when Carter left, and St Ronnie jacked it up to 10.8% by the end of 1982.

Geez... you guys never seem to comprehend what it takes to turn around an economy!
Dummies let me make a simple illustration!
How long does it take a million barrel oil tanker to turn around? Almost a mile.
And so it takes TIME dummies to overcome an economy in the doldrums as it was after Carter, the oil crisis...(You people are not old enough to remember GAS LINES???)
So when Reagan took office IT TOOK time to overcome the inertia of the economy!

That doesn't change the fact that you lied that UE was at an "historical high at the end of Carter."

Funny how the "inertia" argument does not apply to the economy Obama inherited from Bush according to the Right!!!

 

[Faun]

3. The only fair way to totally compare Presidential Administrations time in office to other Presidents is to look at ALL the data for every month during the time involved and average it. That is the only accurate and objective way to make a comparison.

Ah, so differentiating between a president walking into office amid economic growth and walking into office amid Great Recession and turning that into stable, growing economy with full employment is NOT FAIR!

If you cannot tell a difference between an argument a total brainless politico tool would make and your own, guess what, you're it.

I agree that Obama had some economic issues to over come.
But he didn't help! You can't have a President who offers these statements and expect robust economic growth. The economy overcame IN SPITE of really anti-growth comments like these:
- Obama wanted to bankrupt 1,400 companies, that pay $100 billion a year in taxes and unemployed 450,000 people that work for these companies! (Obama told us he favored a "single payer health system"... so what happens to the above?)
- " if somebody wants to build a coal plant, they can – it’s just that it will bankrupt them.”
(Pretty easy way of increasing unemployment.)
- "I prefer higher gas prices". (And Obama proved it by signing 40% fewer Federal oil lease exploration then Bush).
- Obama "Brazil to develop oil and that the USA will be their best customer"!
- "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket." (That certainly puts a dent in the pocketbook...

It truly is a wonder that with this anti-business statements the economy grew in spite of
Obama's economic ignorances and WISHES!

LOL

Liar. In fact, we had a streak of 76 consecutive months of job growth under Obama. Unprecedented.

How am I a LIAR? The economy GREW anemically IN SPITE of stupid economically ignorant comments from Obama!
That was my point! REGARDLESS of how ignorant and hindering Obama was (this dummy ADDED ADDED...!)
Obama's Legacy: 2016 Ends With A Record-Shattering Regulatory Rulebook
And in spite of this mountainous monstrous growth of rules and regulations businesses struggled!
Now with Trump (being the experienced businessman have DEALT with this growth restraining efforts) came in and has started to relieve the burden on businesses!

Every year economist Clyde Wade Crews of the Competitive Enterprise Institute releases a report, entitled “The Ten Thousand Commandments” analyzing federal regulations and their costs. Crews’ analysis found that in 2010 the federal government spent around $55.4 billion dollars funding federal agencies, and enforcing existing regulation. But these costs barely compare to the compliance costs that regulation imposes on the economy. Crews’ report cites the work of economists Nicole V. Crain and W. Mark Crain, whose study of the net cost of regulations determined that in 2009 federal regulation cost businesses and
consumers $1.75 trillion, or nearly 12% of America’s 2009 GDP! The Hidden Cost of Regulation | FreedomWorks

View attachment 138444

You lied claiming the economy came back in spite of his policies. Meanwhile, nearly all the examples you cited were not policies he implemented, but quotes he uttered while running for president.

 

[Faun]

Thanks for proving Republicans were to blame.

And who was the leader of the Republican Party...?

But as far as "Dems had no power"??? You got to be kidding!
With people like you NEVER ever working with the GOP it would have taken major cooperation with these and the below FACTS...
Party divisions of United States Congresses - Wikipedia

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and
opposed by all the Democrats in the Senate Banking Committee in 2005.
That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged.

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

 

[Faun]

I see you corrected the previous rate you posted, but you must realize the average is actually meaningless, unless you also post the change in unemployment rate.

For example, someone who inherits 4% unemployment, and leaves with 8% unemployment can have an average unemployment rate of 6%

Somebody else inherits 8% unemployment, and leaves with 4%, also can have an average unemployment rate of 6%.

But one doubled unemployment, while the other cut unemployment in half. But the average doesn't tell you that.

Yeah, some people just can't be bothered with such pesky details.

Anyone who says Bush did a better job than Reagan in terms of unemployment needs to have their head examined.

For most of the time W was in office, it was easier for the average person on the street to get a job than it was when Reagan was in office. That is just a fact.

Half a fact....
Remember the Misery Index that Reagan inherited from Carter?
Let's see because I lived through it!
US Misery Index - Index by President
The end of Carter and start of Reagan the HIGHEST in history at 19.72!
So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter and I stupidly enough voted for Carter the first time! Thinking this very smart nuclear engineer could be a good president. Instead we got the "sweater talks"... etc. Look up Carter "sweater talks"!!!
View attachment 138371

Stop lying. Unemployment was not at a historical high when Reagan became president. It was higher when Obama became president.

Now who was the President in Jan 1 1983????? Ronald Reagan!!!!
So please get your FACTS straight before calling people a LIAR!!!
US Unemployment Rate by Year

View attachment 138451

Stop ******* lying. Who said anything about 1983??

... you said...

So Reagan had a lot to overcome. Inflation and unemployment both historical highs at the end of Carter...

No, unemployment was not at a historical high. Unemployment was 7.5% when Reagan became president. It was equally as high when Carter became president and it was 7.8% when Obama became president. It was about 24% when FDR became president.

 

[idb]

The President with the worst average unemployment rate since World War II is?

Barrack Obama: 8.86%

Average Unemployment Rates For US Presidents since World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Dwight Eisenhower: 4.89%
04. Richard Nixon: 5.00%
05. Bill Clinton: 5.20%
06. George W. Bush: 5.27%
07. John Kennedy: 5.98%
08. George H.W. Bush: 6.30%
09. Jimmy Carter: 6.54%
10. Ronald Reagan: 7.54%
11. Gerald Ford: 7.77%
12. Barack Obama: 8.86%

Unemployment Rates Under President Obama
When Obama assumed office, the unemployment rate was still rising sharply. It topped out at 10 percent in October 2009, hovering just below that level for the next year, before beginning a steady decline at the end of 2010 that has persisted into early-2016 and breaking through the 5 percent mark at the beginning of 2016.
United States Unemployment Rates by President, 1948-2016

 

[edthecynic]

Thanks for proving Republicans were to blame.

And who was the leader of the Republican Party...?

But as far as "Dems had no power"??? You got to be kidding!
With people like you NEVER ever working with the GOP it would have taken major cooperation with these and the below FACTS...
Party divisions of United States Congresses - Wikipedia

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and
opposed by all the Democrats in the Senate Banking Committee in 2005.
That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged.

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

 

[Call Sign Chaos]

Who cares? Presidents don't decide who works or who doesn't.

Sorry sport but the President has a large influence in the budget making both him and the Congress instrumental in fostering an economic environment condusice to growth.

 

[Faun]

Thanks for proving Republicans were to blame.

And who was the leader of the Republican Party...?

But as far as "Dems had no power"??? You got to be kidding!
With people like you NEVER ever working with the GOP it would have taken major cooperation with these and the below FACTS...
Party divisions of United States Congresses - Wikipedia

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and
opposed by all the Democrats in the Senate Banking Committee in 2005.
That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged.

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

That's a different bill. I'm talking about S.190. (Forgive the link, the original article is gone. I found this on the wayback machine)...

GSE reform bill clears Senate Committee along party-line vote.

BOTH REPUBLICAN AND DEMOCRATIC members of the Senate Banking, Housing and Urban Affairs Committee agreed about the need for a stronger, more powerful regulator for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. But when it came time to vote on the GSE reform bill, members split along party lines, as the committee voted 11 to nine to move the bill to the Senate floor.

GSE reform bill clears Senate Committee along party-line vote. | Government from AllBusiness.com​

That bill made out of committee. The next step was to add it to the Legislative Calendar to move it to the floor for a full Senate vote on it. Republican leadership wouldn't let that happen.

..... later, the economy collapses ... the moronic right blames Democrats.

 

[Call Sign Chaos]

Thanks for proving Republicans were to blame.

And who was the leader of the Republican Party...?

But as far as "Dems had no power"??? You got to be kidding!
With people like you NEVER ever working with the GOP it would have taken major cooperation with these and the below FACTS...
Party divisions of United States Congresses - Wikipedia

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and
opposed by all the Democrats in the Senate Banking Committee in 2005.
That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged.

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

That's a different bill. I'm talking about S.190. (Forgive the link, the original article is gone. I found this on the wayback machine)...

GSE reform bill clears Senate Committee along party-line vote.

BOTH REPUBLICAN AND DEMOCRATIC members of the Senate Banking, Housing and Urban Affairs Committee agreed about the need for a stronger, more powerful regulator for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. But when it came time to vote on the GSE reform bill, members split along party lines, as the committee voted 11 to nine to move the bill to the Senate floor.

GSE reform bill clears Senate Committee along party-line vote. | Government from AllBusiness.com​

That bill made out of committee. The next step was to add it to the Legislative Calendar to move it to the floor for a full Senate vote on it. Republican leadership wouldn't let that happen.

..... later, the economy collapses ... the moronic right blames Democrats.

The democrats are fully to blame for the housing crash by forcing banks through regulation to loan to high risk individuals (read poor blacks and hispanics), the crash is a direct result of the identity politics policies of the DNC:

New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis that Caused 2008 Financial Disaster

 

[Faun]

But as far as "Dems had no power"??? You got to be kidding!
With people like you NEVER ever working with the GOP it would have taken major cooperation with these and the below FACTS...
Party divisions of United States Congresses - Wikipedia

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and
opposed by all the Democrats in the Senate Banking Committee in 2005.
That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged.

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

That's a different bill. I'm talking about S.190. (Forgive the link, the original article is gone. I found this on the wayback machine)...

GSE reform bill clears Senate Committee along party-line vote.

BOTH REPUBLICAN AND DEMOCRATIC members of the Senate Banking, Housing and Urban Affairs Committee agreed about the need for a stronger, more powerful regulator for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. But when it came time to vote on the GSE reform bill, members split along party lines, as the committee voted 11 to nine to move the bill to the Senate floor.

GSE reform bill clears Senate Committee along party-line vote. | Government from AllBusiness.com​

That bill made out of committee. The next step was to add it to the Legislative Calendar to move it to the floor for a full Senate vote on it. Republican leadership wouldn't let that happen.

..... later, the economy collapses ... the moronic right blames Democrats.

The democrats are fully to blame for the housing crash by forcing banks through regulation to loan to high risk individuals (read poor blacks and hispanics), the crash is a direct result of the identity politics policies of the DNC:

New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis that Caused 2008 Financial Disaster

The NBER, who authored the study, did not reach that conclusion. That conclusion was invented by an opinion posted on investors daily by someone who interpreted the NBER report to mean something they didn't say.

Meanwhile, the Federal Reserve found that CRA loans did not have that much impact on the financial crisis...

The Federal Reserve Board has found no connection between CRA and the subprime mortgage problems. In fact, the Board's analysis (102 KB PDF) found that nearly 60 percent of higher-priced loans went to middle- or higher-income borrowers or neighborhoods, which are not the focus of CRA activity. Additionally, about 20 percent of the higher-priced loans that were extended in low- or moderate-income areas, or to low- or moderate-income borrowers, were loans originated by lenders not covered by the CRA. Our analysis found that only six percent of all higher-priced loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, our review of loan performance found that rates of serious mortgage delinquency are high in all neighborhood groups, not just in lower-income areas.

FRB: Did the Community Reinvestment Act (CRA) contribute to foreclosures and the financial crisis? And, is the CRA being reformed?​

 

[Call Sign Chaos]

A perfect example of how the Right lies with half-truths!
In 2005 the GOP controlled ALL committees, that means they had the MAJORITY of seats and the chairmanships of ALL committees, which means the GOP could move any bill out of committee even if no Democrat voted for it, therefore any bill that dies in committee has to have Republican votes!!!!!!

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

That's a different bill. I'm talking about S.190. (Forgive the link, the original article is gone. I found this on the wayback machine)...

GSE reform bill clears Senate Committee along party-line vote.

BOTH REPUBLICAN AND DEMOCRATIC members of the Senate Banking, Housing and Urban Affairs Committee agreed about the need for a stronger, more powerful regulator for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. But when it came time to vote on the GSE reform bill, members split along party lines, as the committee voted 11 to nine to move the bill to the Senate floor.

GSE reform bill clears Senate Committee along party-line vote. | Government from AllBusiness.com​

That bill made out of committee. The next step was to add it to the Legislative Calendar to move it to the floor for a full Senate vote on it. Republican leadership wouldn't let that happen.

..... later, the economy collapses ... the moronic right blames Democrats.

The democrats are fully to blame for the housing crash by forcing banks through regulation to loan to high risk individuals (read poor blacks and hispanics), the crash is a direct result of the identity politics policies of the DNC:

New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis that Caused 2008 Financial Disaster

The NBER, who authored the study, did not reach that conclusion. That conclusion was invented by an opinion posted on investors daily by someone who interpreted the NBER report to mean something they didn't say.

Sorry sport but that article directly quoted the NBER.

Meanwhile, the Federal Reserve found that CRA loans did not have that much impact on the financial crisis..

Really, the Federal Reserve which is one of the regulatory agencies charged with the creation and implentation of the policies used to meet the goals of the CRA, as well as, one of the agencies behind insuring compliance with the CRA, found that it wasn't behind the collapse? There's a ******* shocker. God you are one gullible *****.

 

[Faun]

It's even worse than that. The bill he's taking about made it out of committee; along party lines. The bill never made it out of the Senate because Senate leadership sat on the bill and wouldn't send it to the floor for a full up/down vote.

The economy ******* collapses and now the right, who at one time, bragged about homeownership in America, blames Democrats because Senate leadership wouldn't pass a bill which could have averted the disaster which followed.

The 2005 Oxley bill was the ONLY bill to make it out of the House committee and the GOP Senate leader refused to bring it to the floor for a vote. Contrary to what the liar said, the majority of Dems supported the bill with Barney Frank being a notable exception.

In 2005 Oxley got a reform bill through the House. Democrats unanimously supported HR 1461 in the Financial Services Committee. A majority of Democrats supported it on the floor, though Congressman Frank and others voted against it because of unrelated restrictions it placed on the Affordable Housing Trust Fund. The bill passed the House, but the Bush administration and Senate Republicans opposed the Oxley bill. Senate Democrats offered the House‐passed Oxley bill in that chamber, but Senate Republicans, who held the majority, lacked the votes to pass the bill. They took no action on any bill.

That's a different bill. I'm talking about S.190. (Forgive the link, the original article is gone. I found this on the wayback machine)...

GSE reform bill clears Senate Committee along party-line vote.

BOTH REPUBLICAN AND DEMOCRATIC members of the Senate Banking, Housing and Urban Affairs Committee agreed about the need for a stronger, more powerful regulator for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. But when it came time to vote on the GSE reform bill, members split along party lines, as the committee voted 11 to nine to move the bill to the Senate floor.

GSE reform bill clears Senate Committee along party-line vote. | Government from AllBusiness.com​

That bill made out of committee. The next step was to add it to the Legislative Calendar to move it to the floor for a full Senate vote on it. Republican leadership wouldn't let that happen.

..... later, the economy collapses ... the moronic right blames Democrats.

The democrats are fully to blame for the housing crash by forcing banks through regulation to loan to high risk individuals (read poor blacks and hispanics), the crash is a direct result of the identity politics policies of the DNC:

New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis that Caused 2008 Financial Disaster

The NBER, who authored the study, did not reach that conclusion. That conclusion was invented by an opinion posted on investors daily by someone who interpreted the NBER report to mean something they didn't say.

Sorry sport but that article directly quoted the NBER.

Meanwhile, the Federal Reserve found that CRA loans did not have that much impact on the financial crisis..

Really, the Federal Reserve which is one of the regulatory agencies charged with the creation and implentation of the policies used to meet the goals of the CRA, as well as, one of the agencies behind insuring compliance with the CRA, found that it wasn't behind the collapse? There's a ******* shocker. God you are one gullible *****.

You poor thing, the good Lord sure screwed you over. Imbecile... they didn't quote the NBER blaming the CRA for the meltdown. They quoted them stating the CRA led to riskier lending; but they fell short of citing CRA lending regulations as causing the financial collapse. The study points out CRA lending increased by about 5% -- a drop in the bucket compared to all the other mortgages being written...

And while you piss and moan about the author of the study which found only 6% of CRA loans were issued by CRA covered lenders, you have nothing to refute it. The fact of the matter is, one of the nation's biggest lenders at the time, which controlled some 60% of the market and which wrote more than half of the subprime loans; New Century Financial, the first lender to file for bankruptcy as the markets began collapsing -- was not even covered by CRA.

 

[asaratis]

The 8.86% figure is from an earlier point in his Presidency. This list gets updated in this thread sometimes every month. The current list is here:



Average Unemployment Rates for US Presidents since after World War II:

01. Lyndon Johnson: 4.19%
02. Harry Truman: 4.26%
03. Donald Trump: 4.52%
04. Dwight Eisenhower: 4.89%
05. Richard Nixon: 5.00%
06. Bill Clinton: 5.20%
07. George W. Bush: 5.27%
08. John Kennedy: 5.98%
09. George H.W. Bush: 6.30%
10. Jimmy Carter: 6.54%
11. Barack Obama: 7.45%
12. Ronald Reagan: 7.54%
13. Gerald Ford: 7.77%

It is based on the MONTHLY unemployment rate.

I see you corrected the previous rate you posted, but you must realize the average is actually meaningless, unless you also post the change in unemployment rate.

For example, someone who inherits 4% unemployment, and leaves with 8% unemployment can have an average unemployment rate of 6%

Somebody else inherits 8% unemployment, and leaves with 4%, also can have an average unemployment rate of 6%.

But one doubled unemployment, while the other cut unemployment in half. But the average doesn't tell you that.

Yeah, some people just can't be bothered with such pesky details.

Anyone who says Bush did a better job than Reagan in terms of unemployment needs to have their head examined.

For most of the time W was in office, it was easier for the average person on the street to get a job than it was when Reagan was in office. That is just a fact.

Half a fact....
Remember the Misery Index that Reagan inherited from Carter?
Let's see because I lived through it!
US Misery Index - Index by President
The end of Carter and start of Reagan the HIGHEST in history at 19.72!
So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter and I stupidly enough voted for Carter the first time! Thinking this very smart nuclear engineer could be a good president. Instead we got the "sweater talks"... etc. Look up Carter "sweater talks"!!!
View attachment 138371

Stop lying. Unemployment was not at a historical high when Reagan became president. It was higher when Obama became president.

News Flash, Dodo! Obama came after Reagan!

 

[Call Sign Chaos]

You poor thing, the good Lord sure screwed you over. Imbecile... they didn't quote the NBER blaming the CRA for the meltdown. They quoted them stating the CRA led to riskier lending;

And what the **** do you think led to the collapse you stupid *****? Risky loans that didn't get payed back that didn't get payed back led to the collapse, god you're dumb.

And while you piss and moan about the author of the study which found only 6% of CRA loans were issued by CRA covered lenders, you have nothing to refute it.

You are citing a report by an agency which didn't find fault with itself think about that for a second you joke of a human being.

Thefact of the matter is, one of the nation's biggest lenders at the time, which controlled some 60% of the market

The CRA fostered the environment of risky and predatory lending.

 

[Muhammed]

Who cares? Presidents don't decide who works or who doesn't.

I'm just curious. Why would you average in the first month or 3 months or 6 months of a president's term implying that he had anything to do with that unemployment rate?

De-facto president Obama actively sought to damage the employment rate.

 

[healthmyths]

I see you corrected the previous rate you posted, but you must realize the average is actually meaningless, unless you also post the change in unemployment rate.

For example, someone who inherits 4% unemployment, and leaves with 8% unemployment can have an average unemployment rate of 6%

Somebody else inherits 8% unemployment, and leaves with 4%, also can have an average unemployment rate of 6%.

But one doubled unemployment, while the other cut unemployment in half. But the average doesn't tell you that.

Yeah, some people just can't be bothered with such pesky details.

Anyone who says Bush did a better job than Reagan in terms of unemployment needs to have their head examined.

For most of the time W was in office, it was easier for the average person on the street to get a job than it was when Reagan was in office. That is just a fact.

Half a fact....
Remember the Misery Index that Reagan inherited from Carter?
Let's see because I lived through it!
US Misery Index - Index by President
The end of Carter and start of Reagan the HIGHEST in history at 19.72!
So Reagan had a lot to overcome. Inflation and unemployment both historical highs at
the end of Carter and I stupidly enough voted for Carter the first time! Thinking this very smart nuclear engineer could be a good president. Instead we got the "sweater talks"... etc. Look up Carter "sweater talks"!!!
View attachment 138371

Stop lying. Unemployment was not at a historical high when Reagan became president. It was higher when Obama became president.

News Flash, Dodo! Obama came after Reagan!

Easy to find the facts..
The unemployment rate has varied from as low as 1% during World War I to as high as 25% during the Great Depression.
More recently, it reached peaks of 10.8% in November 1982
and 10.0% in October 2009.
Unemployment in the United States - Wikipedia
Unemployment in the United States - Wikipedia

 

[Faun]

You poor thing, the good Lord sure screwed you over. Imbecile... they didn't quote the NBER blaming the CRA for the meltdown. They quoted them stating the CRA led to riskier lending;

And what the **** do you think led to the collapse you stupid *****? Risky loans that didn't get payed back that didn't get payed back led to the collapse, god you're dumb.

And while you piss and moan about the author of the study which found only 6% of CRA loans were issued by CRA covered lenders, you have nothing to refute it.

You are citing a report by an agency which didn't find fault with itself think about that for a second you joke of a human being.

Thefact of the matter is, one of the nation's biggest lenders at the time, which controlled some 60% of the market

The CRA fostered the environment of risky and predatory lending.

The Federal Reserve was not the governing body of the CRA. And I didn't say risky loans didn't contribute to the collapse. I showed that CRA loans were a small part of that. Again, the biggest lenders, the ones who wrote the most toxic loans, were not even covered by CRA.

And the bigger issue wasn't risky loans, it was fraudulent loans. Loans the lenders knew were bad when they wrote them, but wrote them anyway because they knew they could sell them off before they went into default. It was a game of 'hot potato.'

I even know someone who already had two mortgages on his home back then who was still offered a deal by a bank who offered to pay him $30K if he would buy a property, sight unseen, and just let it go into default. The bank would wave the down payment and cover the closing costs. My friends only cost was his credit score. The bank was making so much money from deals like that because they would sell that loan before it was in default. Whoever purchased it from the bank would in turn, sell it themselves. And so on and so on. That's what lenders were doing. I have neighbor who hasn't paid her mortgage in about 7 years now. She's contesting it in court because her original loan was sold so many times, the current holder of her loan can't locate the original documents.

That's what crashed the economy. Greed. Not the CRA, which is still in place.