Supply-Side Economics

[whell]

Originally Posted by finnbow

You're the dimwitted fool who believes in voodoo economics as well the notion that the idiot Dotard is a good president.

And you've got nothing but name-calling. Must really suck to be you.

[finnbow]

Originally Posted by whell

And you've got nothing but name-calling. Must really suck to be you.

I'm just trying to jolt you out of your Trump-adoring, supply-side loving psychosis.

[finnbow]

Originally Posted by whell

And you've got nothing but name-calling. Must really suck to be you.

Here's the Dotard's Chief Economic Advisor (whose highest academic achievement is a BA in History) on the eve of the Great Recession:

Following last week’s solid jobs report, the New York Times got back to its Bush-bashing recession mantra with the front-page headline: “Slowing Growth and Jobs Seen as Ominous Sign for the Economy.”

This chant has been going on for quite some time. Doom and gloom from the economic pessimists has been political sport for seven years, even though the Bush boom just celebrated its sixth anniversary. The current expansion is now in its 74th month — 17 months longer than the average 57-month business cycle since World War II...

This sort of fiscal and monetary coordination will continue the Bush boom for years to come. Though mainstream media outlets will never admit it, President Bush has kept America safe and prosperous. But history will eventually judge him in a more kindly light.

https://www.nationalreview.com/2007/...-larry-kudlow/

[finnbow]

[whell]

Originally Posted by finnbow

Here's the Dotard's Chief Economic Advisor (whose highest academic achievement is a BA in History) on the eve of the Great Recession:

Following last week’s solid jobs report, the New York Times got back to its Bush-bashing recession mantra with the front-page headline: “Slowing Growth and Jobs Seen as Ominous Sign for the Economy.”

This chant has been going on for quite some time. Doom and gloom from the economic pessimists has been political sport for seven years, even though the Bush boom just celebrated its sixth anniversary. The current expansion is now in its 74th month — 17 months longer than the average 57-month business cycle since World War II...

This sort of fiscal and monetary coordination will continue the Bush boom for years to come. Though mainstream media outlets will never admit it, President Bush has kept America safe and prosperous. But history will eventually judge him in a more kindly light.

https://www.nationalreview.com/2007/...-larry-kudlow/

You fail once again to read with comprehension. The text you quoted is not a commentary on the future but a survey of the past. The MSM spent nearly every year of the Bush presidency predicting a Recession and probably hoping for a Depression just so they could report on it and call themselves prescient, all while blaming Bush for it.

When it finally happened after 74 months, and happened for reasons unrelated to the Administration's fiscal policy, they still found a way to try and blame Bush for it.

[finnbow]

Originally Posted by whell

You fail once again to read with comprehension. The text you quoted is not a commentary on the future but a survey of the past. The MSM spent nearly every year of the Bush presidency predicting a Recession and probably hoping for a Depression just so they could report on it and call themselves prescient, all while blaming Bush for it.

When it finally happened after 74 months, and happened for reasons unrelated to the Administration's fiscal policy, they still found a way to try and blame Bush for it.

You're so full of shit. The very next sentence beyond what you bolded is "This sort of fiscal and monetary coordination will continue the Bush boom for years to come."

I guess you've never heard the adage "When you're in a hole, quit digging."

[whell]

Originally Posted by finnbow

You're so full of shit. The very next sentence beyond what you bolded is "This sort of fiscal and monetary coordination will continue the Bush boom for years to come."

I guess you've never heard the adage "When you're in a hole, quit digging."

You're so full of shit, or reading without comprehension again. As I stated, when the the recession hit, it was triggered by events unrelated to Bush fiscal/tax policy.

Try again, genius, or quit while you're still behind.

[finnbow]

Originally Posted by whell

You're so full of shit, or reading without comprehension again. As I stated, when the the recession hit, it was triggered by events unrelated to Bush fiscal/tax policy.

Try again, genius, or quit while you're still behind.

It was caused by his regulatory policy/enforcement of his SEC. You almost seem like supply-side's theory's Michael Cohen - an incompetent fixer and apologist.

[whell]

Originally Posted by finnbow

It was caused by his regulatory policy/enforcement of his SEC. You almost seem like supply-side's theory's Michael Cohen - an incompetent fixer and apologist.

You really have gotten to the point where you believe your own bullshit, and that spouted by Media Matters and other "sources". Go peddle that BS elsewhere.

This is probably closer to reality, though as the article states its only a "partial list":

https://www.factcheck.org/2008/10/wh...onomic-crisis/

So who is to blame? There’s plenty of blame to go around, and it doesn’t fasten only on one party or even mainly on what Washington did or didn’t do. As The Economist magazine noted recently, the problem is one of "layered irresponsibility … with hard-working homeowners and billionaire villains each playing a role." Here’s a partial list of those alleged to be at fault:

The Federal Reserve, which slashed interest rates after the dot-com bubble burst, making credit cheap.

Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.

Congress, which continues to support a mortgage tax deduction that gives consumers a tax incentive to buy more expensive houses.
Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.

The Clinton administration, which pushed for less stringent credit and downpayment requirements for working- and middle-class families.
Mortgage brokers, who offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments, but exploding interest rates.
Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages.

Wall Street firms, who paid too little attention to the quality of the risky loans that they bundled into Mortgage Backed Securities (MBS), and issued bonds using those securities as collateral.

The Bush administration, which failed to provide needed government oversight of the increasingly dicey mortgage-backed securities market.

An obscure accounting rule called mark-to-market, which can have the paradoxical result of making assets be worth less on paper than they are in reality during times of panic.

Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.

The U.S. economy is enormously complicated. Screwing it up takes a great deal of cooperation. Claiming that a single piece of legislation was responsible for (or could have averted) the crisis is just political grandstanding. We have no advice to offer on how best to solve the financial crisis. But these sorts of partisan caricatures can only make the task more difficult.