Quote:
Originally Posted by Dousan_PG
unemployement went up when GW took office eh?
and it dropped when clinton was in office.
dropped quickly and steadily.
nice twist on the facts, RJF
bushs (#1 and #2) were in offices when unemployment was highest
and clinton brought it down.
|
Aaron while you are good with cars and deserve your due. You suck at political and financial analysis based on your above statement.
Fact one Bush 1 came into office in the midst of recession.
Fact two: He ate shit politically because of it.
Fact three: Clinton inherited a upswing out of economy and the dot com boom. It had nothing to do with his economic policies.
Fact four: The whole relaxation of credit and legislation making credit access easy was initiated by the Democratic house and passed and signed into law by Clinton. That was the beginning of what would lead to the current financial mess and credit mess we are in now.
Fact Five: While I do not like Bush 2 or his policies, he pretty much inherited this mess and downturn from the actions taken during the Clinton administration. The only faults on the financial side of the current administration have been the excessive spending on Iraq. Which had no effect on the financial crisis as it was something completely outside it and the SEC chairman Cox not doing his job properly. Which did have some effect.
So before you go and start laying blame I suggest you go back and study financial markets and economic policies.
P.S. I am a registered Democrat so do not take this as a Republican speaking. I just know enough about this stuff to vote with intelligence rather than party line dogma.
To everyone else RJF is right. This is not a depression its a recession quite similar to one in the early 70's. I should also add you guys have no idea how bad it can be. Try living in the days of double digit inflation like we had in the 70's.
Yes job reports are the worst they have been since 1945 but that is still not a depression. In the great depression there was 30% unemployment. We are hovering around 9% right now. aka Recession people.