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You can look at that graph and it would be the same for any country in the world irrespective of the make-up of government…..it’s called the global financial crisis. Stick to facts mate not innuendo.
OMG! You mean all those sub-prime loans which Pelosi and Reid mandated had no effect on the economy. Thanks for clearing that up,
So all those right wing governments (like National here in NZ) made the same mistake and can be beaten with the same stick. That’s the problem I’m having with the left wing parties over here.
Right wing isn’t what it used to be:)
Economic expansion is based on sentiment and the sentiment in the world’s largest and most dynamic economy has been eating dirt for the past five years, hence the slowest recovery and longest stretch of low employment. Sentiment and expectations say, socialism is killing us!
There is no natural variability in the global markets, they respond to stimuli humans create. The US is a major driver in global economies, and the fraudulent housing bubble created and maintained by democrats lead to the crisis in the graph above. Period.
Off topic:
Idiot Korean pilot destroys Boeing 777 at SFO airport.
He dragged the tail in the water on landing.
The runway rock embankment sheared the tail off.
Plane spun on belly down runway for the landing.
Thank you for flying Asiana Airlines (Korea).
https://path.com/p/1lwrZb
With Obama care kicking in the U6 rate just jumped 0.5% to 14.6%.. The economy lost over 300,000 full time jobs last month.
I prefer Charles Anderson’s “missing jobs” number:
22 million missing jobs
From the graph at that link, one can see the missing jobs were less than 6 million in January 2000, rising to over 15 million in December 2008 (in Bush’s presidency), and then to 22 million only a year later in December 2009 (Obama’s first year). So I tentatively blame Bush for 9 million of the missing jobs, over 8 years time, and Obama for the last 7 million in just one year (so both parties are to blame for the lack of jobs). I also find it suspicious that the missing jobs have simply remained at 22 million (21 to 23 million, according to the season of the year) ever since, for the last 3 1/2 years. That tells me that the government, both federal and states, doesn’t know how to increase employment (and I wonder, in idle moments, if they just want the Baby Boomers–of which I am one–to go away as quickly as possible).
Sentiment is and always has been the key to production and economical expansion and that is the story. People do not trust a socialist, wealth distributing administration at all, at least those who have talent, capital and integrity to succeed!
The economy was pretty good during Bush’s Presidency, until the Democrats took over (both houses of) Congress.
That’s partly coincidence, because the root causes for the collapse mostly predated the Democrat takeover of Congress. But it is nevertheless true that Democrats caused the economic collapse. In fact, the root causes for the collapse predate the Bush 43 Administration. The Bush administration tried for years to curb the dangerous subprime lending boom (Fannie, Freddie, etc.) which ultimately triggered the economic bust. But Bush’s efforts were thwarted by House Democrats (esp. Barney Frank), even when Republicans held (very slim) majorities in Congress.
Unfortunately, the Republicans didn’t take over all of Congress.in the 2010 election, just the House. Democrats still control the Senate.
Don’t want to come across as alarmist but I’m thinking there is a hockey stick in the near future of this chart when the Demos get control of Congress.