Posted on 07/27/2015 11:00:49 AM PDT by SeekAndFind
A quick reminder for fans of Donald Trumps business acumen, and who believe he has an instinctive feel for what it takes for a healthy economy . . .
Trump, in March 2007, discussing the economy:
TRUMP: Well, the U.S. economy is okay, but very, very fragile. Interest rates have to start being lowered. I think that Alan Greenspan, who is a friend of mine and a great guy, came out last week and he made the statement. But I believe interest rates are getting too high, and if they are not lowered, your housing markets will really start crashing pretty big. And I think they will be lowered. Now, as far as the housing market, I think its okay. Its not terrible, its not great its okay. It was great two years ago; now its fine, its solid.
Some might find the terms very, very fragile and okay, fine, and solid contradictory. In fact, U.S. housing markets were approaching a deep plunge at that moment:
Through late 2007 and 2008, the Fed did what Trump suggested, cutting rates ten times in 15 months, to the lowest rate on record.
Pay off some politicians and use eminent domain and all is fine.
Jim G. is the ultimate NR RINO hack. In March, 2007, Trump had it about pegged right—especially for a guy with so many interests in that market.
I’m sure his net worth took a dip in 2008 also.
But, he exceeded his 2007 peak long ago. So in that sense he was correct. He stayed in downtowns of major cities, New York, San Francisco and out of the housing tracts of Phoenix and Las Vegas.
Luck or Skill?
He wasn’t talking about banks being forced to make bad loans to those without credit worthiness.
Some of you anti-Trump folks are reaching for everything you can to bring him down. The GOPe appreciates your efforts.
It is my guess that there is enough to bring him down without having to reach this far.
How about offering more reasons to vote for the candidate of your choice? How about offering someone that can beat Hillary?
I see a trend on NR.
Good that I no longer care what they say.
The REPUBLICAN President and the DEMOCRAT Congress said the same thing didn’t they? They were in Charge, Trump wasn’t.
I guess Trump is Toast once again. LOL
RE: How about offering someone that can beat Hillary?
OK, here’s an honest question — do you really think Trump can beat sHrillary when it comes down to him vs her?
I don’t know. Maybe? I am not for Trump.
He’s 3rd - 4th on my list behind Cruz, Walker, Jindal.
He’s at least talking about issues the other GOPe and media don’t want to talk about.
997 998 999 1000 1001 1002th time! ....
Maybe Jim Geraghty should repost one if his columns from 2007 where he correctly predicted the housing market crash./s
In every economic cycle, people lose their jobs and stop paying their mortgages. Every economic cycle in hindsight looks like a revenue bubble. Mortgage performance is simply a symptom of the economic cycle.
In 2007 they were fine, but the economy was still weakened from decades of free trade with low wage countries. The mortgage industry had been boosted by relaxed standards to help the employment picture.
And then in 2007 the oil price shock started, and by 2008 oil prices had soaked up enough disposable incomes, that people started losing their jobs. Mortgages started going unpaid and finally a money market fund investing in short term mortgage securities broke the dollar for the first time. An immediate liquidity crisis followed as the banking industry stopped issuing credit.
Bush then lobbied congress on a bail out, resulting in extreme harm to consumer and business psychology.
This just in...Trump was not psychic in 2007.
This should be more disconcerting.
BLITZER: Actually, we should thank you for allowing us to come into your
office.
TRUMP: Well, I’m a fan, Wolf, and it’s my honor. Thank you.
In his book, “The America We Deserve” published in 2000, he predicted a market crash but said he hesitated to talk about it because he didn’t want to issue a self fulfilling prophesy.
FYI...He also predicted a large terrorist attack in that book.
That’s just so mean. That’s just terrible that you quote the boy wonder, the former up-until-he-was-sixty-something Democrat. I suppose you’re going to bring up that he was for gun control, abortion, eminent domain, Nancy Pelosi, Harry Reid, and Hillary too. Shame on you. Don’t you know he’s really and has always been with us on conservative issues. He hates Republicans and that’s enough for the people who support him.
Last time I checked...a Bush was running the country in 07
You left off, "into the ground."
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