@52. TheEnforcer:
Keep blaming Bush you idiot. Didn’t you notice the market started going down when Obama was practically assured the nomination and it’s been downhill ever since? And also, didn’t you notice the economy started going down hill since 2006?
Guess what happened in 2006. Yes, the DemocRATS were voted the majority into Congress and it’s been downhill ever since.
I guess you didn’t notice the mortgage bubble that Bush & Co. fostered, which started collapsing before the Democrats took back Congress…
2002, June 17: President G.W. Bush sets goal of increasing minority home owners by at least 5.5 million by 2010 through billions of dollars in tax credits, subsidies and a Fannie Mae commitment of $440 billion to establish NeighborWorks America with faith based organizations.
2003, June: Federal Reserve Chair Alan Greenspan lowers federal reserve’s key interest rate to 1%, the lowest in 45 years.
…
2004, October:SEC effectively suspends net capital rule for five firms – Goldman Sachs, Merrill Lynch, Lehman Brothers, Bear Stearns and Morgan Stanley. Freed from government imposed limits on the debt they can assume, they levered up 20, 30 and even 40 to 1
…
Fall 2005: Booming housing market halts abruptly; from the fourth quarter of 2005 to the first quarter of 2006, median prices nationwide dropped of 3.3 percent.
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2007, September 1–3: Fed Economic Symposium in Jackson Hole, WY addressed the housing recession that jeopardizes U.S. growth. Several critics argued that the Fed should use regulation and interest rates to prevent asset-price bubbles, blamed former Fed-chairman Alan Greenspan’s low interest rate policies for stoking the U.S. housing boom and subsequent bust, and Yale University economist Robert Shiller warned of possible home price declines of 50 percent.
You mean to say that consumers having more money in their pockets to spend will not stimulate the economy?
Why don’t we all tell Congress and the President that an extra 2800 dollars in the pockets of 300 million Americans will do more than giving it away to special DemocRATic interests.
Consumers having more money will only spend more if they have job security. That’s beside the point, as the Reagan Revolution provided tax cuts to the wealthy – who are not spending it to stimulate the economy.
You are one of those 63 million fools who voted for Obama weren’t you?
To paraphrase Frank Zappa (from Baby Snakes)…
Awright, now check this out. How many of you people feel that DEMOCRACY has gotten entirely TOO PREPOSTEROUS? I see that you’re not all convinced. Some of you believe that DEMOCRACY is REAL. I can see that there was probably about 20 percent of the audience has had it up to here, and the rest of you people still believe in that shit. Okay, well this is dedicated to the rest of you people that still believe in that shit.
Peace.
DS
