Parsad Posted July 9, 2019 Share Posted July 9, 2019 Trump isn't responsible for some miraculous recovery, and to tell you the truth, neither was Obama. It was policies by the Fed, Bush Administration (granted they lead to the problem in the first place), Treasury, et al combined with continuation of many of those policies through the Obama Administration, and continued into the Trump Administration. None of the Presidents are actually smart enough to have fixed things by themselves...others did all of the heavy lifting! Cheers! https://finance.yahoo.com/news/trump-versus-obama-on-jobs-181449608.html Quote Link to comment Share on other sites More sharing options...
Gregmal Posted July 9, 2019 Share Posted July 9, 2019 I agree to an great extent, however the knee-jerk policies of the Obama administration, absolutely strangled the economy. I can personally attest, that trying to get a mortgage in 2013 was a nightmare. As was 2016. Now its a breeze. This is just one of many illustrations. The corporate tax rate of 35% was a joke. Not Obama's fault as it was there prior, but a credit to Trump. Overall I dont think Obama deserves much credit. I think Trump deserves some. Neither deserve the credit they've gotten or give themselves. Quote Link to comment Share on other sites More sharing options...
cubsfan Posted July 9, 2019 Share Posted July 9, 2019 Trump isn't responsible for some miraculous recovery, and to tell you the truth, neither was Obama. It was policies by the Fed, Bush Administration (granted they lead to the problem in the first place), Treasury, et al combined with continuation of many of those policies through the Obama Administration, and continued into the Trump Administration. None of the Presidents are actually smart enough to have fixed things by themselves...others did all of the heavy lifting! Cheers! https://finance.yahoo.com/news/trump-versus-obama-on-jobs-181449608.html Nice to see we can find some common ground here! The Fed saved us, while traditional politicians did NOT do their job - for years - and that is the problem the US has with gutless elected officials. Quote Link to comment Share on other sites More sharing options...
LC Posted July 9, 2019 Share Posted July 9, 2019 The Fed saved us, while traditional politicians did NOT do their job - for years - and that is the problem the US has with gutless elected officials. Common ground, incredible! ;D Quote Link to comment Share on other sites More sharing options...
DTEJD1997 Posted July 9, 2019 Share Posted July 9, 2019 I agree to an great extent, however the knee-jerk policies of the Obama administration, absolutely strangled the economy. I can personally attest, that trying to get a mortgage in 2013 was a nightmare. As was 2016. Now its a breeze. This is just one of many illustrations. The corporate tax rate of 35% was a joke. Not Obama's fault as it was there prior, but a credit to Trump. Overall I dont think Obama deserves much credit. I think Trump deserves some. Neither deserve the credit they've gotten or give themselves. Getting a mortgage before 2013 if you were self employed was a nightmare. I tried getting one a few years earlier in 2011 and it was almost impossible. Banks simply did not want to lend. Quote Link to comment Share on other sites More sharing options...
Castanza Posted July 9, 2019 Share Posted July 9, 2019 In the short term view of history yes the Fed has done a few decent things. But in the long term view I think creating the Fed was one of the worst decisions this country ever made. Woodrow Wilson said it best "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson. Whether or not you believe he said exactly that I believe he said something in the same capacity and it has become true regardless. Quote Link to comment Share on other sites More sharing options...
Parsad Posted July 9, 2019 Author Share Posted July 9, 2019 In the short term view of history yes the Fed has done a few decent things. But in the long term view I think creating the Fed was one of the worst decisions this country ever made. Woodrow Wilson said it best "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson. Whether or not you believe he said exactly that I believe he said something in the same capacity and it has become true regardless. You may be correct...only history will tell. But I'm a proponent of a Fed and Treasury that moves independent of politics and administrations. Otherwise 2008 would have made the Great Depression look like a normal recession. Others may argue that the Fed lead to 2008, but I think that was more to do with lax regulations in banking, derivatives, and tremendous weakness in home ownership qualifications. Greenspan was a complete mess, but I think we have to admit that Bernanke, Geithner & Paulson and their global counterparts saved the financial system. Cheers! Quote Link to comment Share on other sites More sharing options...
rukawa Posted July 12, 2019 Share Posted July 12, 2019 Others may argue that the Fed lead to 2008, but I think that was more to do with lax regulations in banking, derivatives, and tremendous weakness in home ownership qualifications. Greenspan was a complete mess, but I think we have to admit that Bernanke, Geithner & Paulson and their global counterparts saved the financial system. Cheers! I think that the Democrat policy of encouraging debt has really hurt America. You criticize regulation but you ignore the tremendous subsides that liberals have built into the system to encourage debt such as: - federal government proping up the mortgage markets through massive subsidies and interventions (Fannie, Freddie etc) - strong encouragement from liberals for low interest policies in order to encourage fully employment (Philips curve type ideas). This led to encouragement to take on more debt - pushing banks to lend to minorities - liberal student loan policies The democratic party is still pushing all these ideas up to the present day!! It should also be noted that the segregation in US cities was the result of these policies as well. The market was inherently integrating in its effects...it was left-wing liberals that produced the segregation we see in US cities and the inner city ghettos. Quote Link to comment Share on other sites More sharing options...
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