Every Republican presidential term in my lifetime has had a recession start. None of the Democratic ones have…
Regan; one started each term. First Bush had one in his term. Clinton had none in his 2 terms. Second Bush had a HUGE one each time (dot com and great recession). Obama had none in his 2 terms. trump had one in his first term (triggered by covid & shutdowns; which his (in)actions intensified…). Biden didn’t have one (but; just barely… and only by the official definition [NBER]; he did have two negative real GDP quarters, so one could argue this point). Now we’re starting trump’s second term, so we’ll see (it’s pretty clear we’ll have a recession within 2 years).
This isn’t really debatable unless you ignore the evidence. Stock market and real GDP growth are overall way higher under Democrat presidents. One link for reference (but many more are available): https://link.springer.com/article/10.1007/s11127-021-00912-y
Clinton repealed the Glass-Steagal Act, inflating a massive bubble (especially in Finance) which blew up in 2008.
If you’re going to laud him for the positive effects of the bubble he inflated, then it’s only fair to criticize him for the ultimate result of his bubble-pumping policies, which wiped out all the gains from the bubble.
Or do you think the responsibility of a shooter ends when the bullet leaves the barrel of the gun?
For the Economy, repealing Glass-Steagal was the most widely impactful measure taken by politicians in the US since the New Deal and the current situation of a massive property bubble and growing inequality can be traced all the way back to it as a cascade of consequences of that act: the repeal leading to Retail banks going into ultra speculative investing and the overextending of Finance, leading to the 2008 Crash and the need for Government bailouts to save all the bank accounts of common people as the banks that were sinking due to their own speculative investing were (because of there being no Glass-Steagal) taking down retail customer funds with them, leading to the slowest recovery from a Crash ever and ultra low interest rate policy which was supposedly temporary but really wasn’t (interest rates are still below the historical average), which in turn pumped up of massive bubbles in housing because of that ultra-cheap money and continuation of speculative investment by Retail banks.
Clinton and the Democrat Congressmen’s actions (as I stated elsewhere, fully supported by the Republicans, who if I remember it correctly wanted even more derregulation of Finance) directly led to the present situation of empoverishment of all layers of American society except the top (who have become far richer, the higher they are the more so) and probably also to Trump getting elected because of so many desperate drowning people trying to grab any perceived buoy ended up voting for the biggest scammer of all because he doesn’t sound like a mainstream politician.
Whilst I seriously doubt that Trump was the result Clinton expected when he repealed the Glass-Steagal, he was the one who started the chain and before doing so he was definitely warned that removing the main regulatory protection on Finance put in place after the Great Depression to stop a similar Crash and Depression from happening again was going to have nasty consequences.
For the benefit of a few Finance fatcats (for which he got massively rewarded for it with things like millionaire gigs in the speech circuit, as did his wife) Clinton fucked up massively and hundreds of millions now suffer for it, so let’s not laud that disgusting sold out politician a great statesman and steady hand steering the Economy.
Bullet? If anything, a venomous snail or something like that.
The builders of the titanic weren’t to blame for the sinking, it was the guy at the Helm at the moment. In my book “some guy 8 (at least) years ago plotted this course” is not a valid excuse for sinking the economy.
The 2008 Crash was the direct result of Clinton’s repealing of the Glass-Steagal Act (with the full support from the Republicans, so I’m not actually excusing them).
In the process of pointing out just how bad the Republicans are for the Economy, let’s not excuse the Democrats so much that it turns into whitewashing.
You are not wrong, I don’t know where the other poster got their information, but Republicans almost always destroy the economy and the Democrats (kind of) fix it just in time to be blamed for the economy being bad.
The “trope” is public perception, not actual historical pattern. Every time a Republican president gets elected the exit polls are full of “economic concerns.” What that actually means is left to interpretation but so it goes.
Historically the US economy generally performs better under Democratic administrations than Republican ones. I’ve read several articles and studies that show this. I’m on mobile and don’t have the time to find them However polls show that Americans consistently have the opinion that Republican admins are better on economics. And this despite no matter how much evidence os presented.
However polls show that Americans consistently have the opinion that Republican admins are better on economics.
Newsflash: Americans are fucking dumb. Mind numblying fucking dumb. Their stupidity triggered an overflow in the universe to where they’ve looped around and think everyone else is dumber than them.
Correct me if I’m wrong, but don’t most (if not all) Republican administrations cause recessions or other damage to economies?
Every Republican presidential term in my lifetime has had a recession start. None of the Democratic ones have…
Regan; one started each term. First Bush had one in his term. Clinton had none in his 2 terms. Second Bush had a HUGE one each time (dot com and great recession). Obama had none in his 2 terms. trump had one in his first term (triggered by covid & shutdowns; which his (in)actions intensified…). Biden didn’t have one (but; just barely… and only by the official definition [NBER]; he did have two negative real GDP quarters, so one could argue this point). Now we’re starting trump’s second term, so we’ll see (it’s pretty clear we’ll have a recession within 2 years).
This isn’t really debatable unless you ignore the evidence. Stock market and real GDP growth are overall way higher under Democrat presidents. One link for reference (but many more are available): https://link.springer.com/article/10.1007/s11127-021-00912-y
Same with budget deficits, Clinton even got surpluses…
Clinton repealed the Glass-Steagal Act, inflating a massive bubble (especially in Finance) which blew up in 2008.
If you’re going to laud him for the positive effects of the bubble he inflated, then it’s only fair to criticize him for the ultimate result of his bubble-pumping policies, which wiped out all the gains from the bubble.
He also had an affair
Did he have an affair? I hadn’t heard about that… probably wasn’t a big deal and people likely didn’t blow it out of proportion.
obviously /s
That’s up to him, his wife and his mistress.
I only care about his track record when it applies to the Economy.
His track record ends in 2000.
Actions have consequences.
Or do you think the responsibility of a shooter ends when the bullet leaves the barrel of the gun?
For the Economy, repealing Glass-Steagal was the most widely impactful measure taken by politicians in the US since the New Deal and the current situation of a massive property bubble and growing inequality can be traced all the way back to it as a cascade of consequences of that act: the repeal leading to Retail banks going into ultra speculative investing and the overextending of Finance, leading to the 2008 Crash and the need for Government bailouts to save all the bank accounts of common people as the banks that were sinking due to their own speculative investing were (because of there being no Glass-Steagal) taking down retail customer funds with them, leading to the slowest recovery from a Crash ever and ultra low interest rate policy which was supposedly temporary but really wasn’t (interest rates are still below the historical average), which in turn pumped up of massive bubbles in housing because of that ultra-cheap money and continuation of speculative investment by Retail banks.
Clinton and the Democrat Congressmen’s actions (as I stated elsewhere, fully supported by the Republicans, who if I remember it correctly wanted even more derregulation of Finance) directly led to the present situation of empoverishment of all layers of American society except the top (who have become far richer, the higher they are the more so) and probably also to Trump getting elected because of so many desperate drowning people trying to grab any perceived buoy ended up voting for the biggest scammer of all because he doesn’t sound like a mainstream politician.
Whilst I seriously doubt that Trump was the result Clinton expected when he repealed the Glass-Steagal, he was the one who started the chain and before doing so he was definitely warned that removing the main regulatory protection on Finance put in place after the Great Depression to stop a similar Crash and Depression from happening again was going to have nasty consequences.
For the benefit of a few Finance fatcats (for which he got massively rewarded for it with things like millionaire gigs in the speech circuit, as did his wife) Clinton fucked up massively and hundreds of millions now suffer for it, so let’s not laud that disgusting sold out politician a great statesman and steady hand steering the Economy.
Bullet? If anything, a venomous snail or something like that.
The builders of the titanic weren’t to blame for the sinking, it was the guy at the Helm at the moment. In my book “some guy 8 (at least) years ago plotted this course” is not a valid excuse for sinking the economy.
Thanks for the link.
The 2008 Crash was the direct result of Clinton’s repealing of the Glass-Steagal Act (with the full support from the Republicans, so I’m not actually excusing them).
In the process of pointing out just how bad the Republicans are for the Economy, let’s not excuse the Democrats so much that it turns into whitewashing.
You are not wrong, I don’t know where the other poster got their information, but Republicans almost always destroy the economy and the Democrats (kind of) fix it just in time to be blamed for the economy being bad.
The “trope” is public perception, not actual historical pattern. Every time a Republican president gets elected the exit polls are full of “economic concerns.” What that actually means is left to interpretation but so it goes.
It means they think minorities had too much money.
Historically the US economy generally performs better under Democratic administrations than Republican ones. I’ve read several articles and studies that show this. I’m on mobile and don’t have the time to find them However polls show that Americans consistently have the opinion that Republican admins are better on economics. And this despite no matter how much evidence os presented.
Newsflash: Americans are fucking dumb. Mind numblying fucking dumb. Their stupidity triggered an overflow in the universe to where they’ve looped around and think everyone else is dumber than them.
I honestly believe America is the most ignorant as well as unhealthiest (obese/fat) nation in existence.