I can’t get past the fact that Trump has completely misdiagnosed the cause of the 2008 financial crash.
For me, that’s a major deal killer.
has he? how?
Actually what has surprised me is how many on our side blame the Democrats for the crash, when it was OBVIOUS, at the time, that banks were making loans that could never be paid back and Bush’s people were happy to go along as the economy seemed to be growing, due to that infusion of fake money. In other words, what was going on then was an extra $500B to $1T of deficit spending, but without it showing up on government books (until the crash).
It was so OBVIOUS to me that I shorted a bunch of financials and was able to buy my wife a nice car, due to the crash (but I admit, it was nerve racking when all of the ‘experts’ were saying everything was just fine).
I can’t get past the fact that Trump has completely misdiagnosed the cause of the 2008 financial crash.Maybe he chose not to participate so he never looked at it beyond what the media said/says.
for me, the one part of the 2008 crash that seems explainable is the “crash” in the real estate bubble. that bubble was a bipartisan creation. the Dems and the Bush administration BOTH promoted easy loans to unqualified, low income homebuyers. this helped create a price bubble that couldn’t be sustained.
google Bush, Rove and home ownership, and you’ll see how they were complicit along with Dems. Eg this Bush law for paying down payments for poor people:
http://georgewbush-whitehouse.archives.gov/news/releases/2003/12/20031216-9.html
President Bush Signs American Dream Downpayment Act of 2003
Remarks by the President at Signing of the American Dream Downpayment Act
Department of Housing and Urban Development
Washington, D.C.
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Fact sheet In Focus: Home Ownership
1:57 P.M. EST
THE PRESIDENT: Thank you all. Thank you for coming. Thanks for the warm welcome. It’s great to be back at the Department of Housing and Urban Development. This is not my first time here, nor will it be my last. (Applause.) I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.
http://georgewbush-whitehouse.archives.gov/news/releases/2003/12/20031216-9.html
During the signing ceremony of S. 811, The American Dream Downpayment Act, President George W. Bush delivers remarks at the U.S. Department of Housing and Urban Development in Washington, D.C., Tuesday, Dec. 16, 2003. “One of the biggest hurdles to homeownership is getting money for a down payment,” said President Bush. “This administration has recognized that, and so today I’m honored to be here to sign a law that will help many low-income buyers to overcome that hurdle, and to achieve an important part of the American Dream.” White House photo by Paul Morse One of the biggest hurdles to homeownership is getting money for a down payment. This administration has recognized that, and so today I’m honored to be here to sign a law that will help many low-income buyers to overcome that hurdle, and to achieve an important part of the American Dream.