Talk of The Villages Florida - View Single Post - US In Weakest Economic Recovery Since 1947
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Old 07-31-2016, 04:41 AM
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The making of the 2008 financial crisis began in 1977 when Carter passed the Community Investment Act. Bill Clinton pushed that same agenda and with the assistance of both Dodd and Frank suddenly underwriting rules were thrown out the window and anyone who said s/he wanted a house got one via Fannie and Freddie. It was obvious to everyone but not one politician nor the FED had the guts to do anything about it.

When the sky fell Obama threw money at the problem and that money landed in the pockets of Obama's minions. Obama broke long standing rules and stiffed General Motor creditors (bond holders) when bailing out GM and arbitrarily giving a substantial portion of ownership to the union. ...a unprecedented and illegal move.

To fix the "too big to fail"problem Dodd-Frank devised a plan that in effect didn't resolve the too big to fail problem it just shifted the burden to taxpayers For the sake of brevity much of what was written in Dodd-Frank only exacerbates the same situation that created the bubble buster in 2008

Obama and Company have continued with their irresponsible and ineffective spending campaign. Fannie and Freddie still allow anyone who desires a home to have one. Students who claim they didn't get what they paid for are granted forgiveness. heck 1/3 of the students who took out loans didn't even know they were obligated to pay them back. SO now we have Hillary calling for free college education. and anyone with an IQ over 30 knows
where that all is heading

The FED working with Obama has been in a long campaign of helicopter money. the interest free money has not helped anyone except Wall Street and clearly has harmed retirees. The FED needs to be audited and from my personal view eliminated because all they have done is create more uncertainty...

As the OP stated this is the most anemic recovery since 1949. so what do Obama and Company do to explain less than a 2% GDP growth label it the "new normal"

Republican on the other hand have repeated for the last eight years that growth is possible with business friendly regulation and tax policies that create incentives for businesses small medium and large.

but that doesn't fit the progressive agenda because how can they pay for free stuff As Thatcher once stated the problem with socialism is ...what do you do when you run out of other people's money

Using Obama's favorite word "it is audacious for progressives to think their platform benefits America and the last eight years has proven what a disaster it really is

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