Most Ignorant Americans believe that Bush and Republican policies led to the 2008 economic crisis that was the worst since the Great Depression, and in November 2008, most Americans chose not to return to those policies.
I fixed it
Study Confirms That Democrats Destroyed the Economy
Home - by BigFurHat - December 28, 2012 - 11:30 America/New_York - 20 Comments
The reason you hear Obama repeat over and over the stupid refrain ” why go back to the policies that got us in this mess?” is because he is employing typical progtardian behavior – projection.
A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.
The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.
Again, let’s review:
-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.
It's true that downs create the ups, and ups the downs: it's called "boom and bust".
It's true that Alan Greenspan busted the Reagan-era boom by slamming the brakes on in 1999-2000. It's true that the markets began to decline in 2000, before Mr. Bush was elected (not "selected"), because of Greenspan's backroom necromancy.
It's true that the stock market has been in a primary bear market since 2000 despite Greenspan's and Bernanke's efforts to b.s. their way out of it, by printing money and taking on bad debts of others to help "work out" the bad credit they helped create.
It's true that on tax policy, the Wall Street crowd achieved an intellectual, moral, political, and practical ascendancy over all other schools of thought during the 90's, and that their "highest good" was ..... "pay me, give me ALL the money." It's what they do. "All money in the universe is mine, always was, and what we need to negotiate is how fast you can get it to me, so I can ....do creative things with it. Or whatever." These propositions rest on the ancient "con man's inequation": "The constant I is always greater than the variable U."
It's also true that Bill Clinton, Barack Obama, Barney Frank, and Chris Dodd busted the housing market and, in Obama's case, got rich doing it .... while he wasn't running the Shirley Sherrod Ag Department scam.
It's also true that the major money-center banks and investment banks invented the Credit Default Swaps (CDS's) which now constitute 70 or 80% of the $100 trillion or so in public + private debt.
It's true there is plenty of blame to go 'round, but that Barack Obama is uniquely responsible for the fiscal mess of the last four years, and for trying to ruin the U.S. economy, break the middle class to poverty deliberately, and do every other thing he could think of, to work manifest injury to the People of the United States, because he is a black racist and hates them utterly.
ping