OH! You're speaking of The one who lost the legislature to the Left... and despite his best efforts was unable to get the Left to reign in the abuse of Legislative powers which coerced the Financial Markets to replace sound, actuarial lending principle with a perverted sense of 'Fairness', which inevitably manifest into the catastrophic failure of the Financial Markets?
Good one!
To which "effort" of Pretzeldunce Innocent Bystander are you referring?
I'm actually referring to the Legislature... intentionally to deflect from the President who did not do enough to shut the Left down.
I personally would have preferred for him to have directed his AG to arrest the respective Legislators, Fwank, Conyers, Lee, Waters, etc... tried them on the charges of subversion, etc... and upon conviction by a jury of their peers, executed them by public hanging... but, no one asked me, so... the international financial markets crashed, instead.
I can appreciate why you would be so anxious to deflect from the worst POTUS of the modern era.....to that end, you'd clutch at pretty much ANY fairy tale....
Have you ever considered what Supply Side Idiocy, Part Deux might have looked like had it NOT enabled the housing scam?
Wonder no more...
Let's look at a graph I used two years ago, from work done by James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.
Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.
The Economic Blue Screen of Death - Thoughts From The Frontline - Investment Strategies Analysis Intelligence for Seasoned Investors.
Yep.... all sorts of chaos is what should be expected when one allows the Ideological Left to set Government policy.
And that is never MORE true, than where the Left is tolerated at sufficient levels and for sufficient periods, so as to allow them to coerce the financial markets into setting aside, sound actuarial lending principle and substituting such with the Left's irrational and wholly perverted notions of 'fairness'.
Add to that, their penchant for undermining the labor force with absurd subsidies, crippling initiative and willingness to work, such can and
will only lead to low production, as your chart illustrates brilliantly.
It proves in spades that electing
progressives, without regard to their party affiliation, is a sure fire formula for disaster.
Good stuff... congrats for a fine post.