It's even harder to get anyone on FR to admit that this is W's mess.
How so?
The economic downturn is the result of Liberal policies, be they from Republicans or Democrats.
The stock market doesn’t see any hope for the future because Liberals have no solutions to problems caused by Liberals.
Can we blame it all on W? No. Was it his responsibility? Sure.
The market is trading on the Obama presidency now.
It’s even harder to get anyone on FR to admit that this is W’s mess.
Mortgage credit as a civil right was pushed by the Democrat Party. They own this meltdown.
Bush didn’t help but it is much more than just his mess.
Could you expand on that line of thinking, please? Do you mean W’s fault due to economic policies, that he didn’t defend himself during his administration therefore letting the liberal lies about him stand and influence people’s judgment of him and setting the stage for a socialist victory, or something else?
I’m being serious here. I’m no “bushbot” by any means, but I’m having a hard time seeing how this crisis is W’s fault. It is much easier to see these things as directly associated with a variety of world events, laws, lies, etc... but none of these have much of ANYTHING to do with President Bush.
Indeed, the reasons I’m seeing on the whole for the predicament we find ourselves in currently originated years and years ago, and were helped along by liberal policies and politics over decades (some of which were indeed pushed by what we would today call RINOs, as well as Dems - but mostly the Dems).
It would be hard to place this crisis at the feet of ANY politician solely (even those I can’t stand like Carter and Clinton!!!).
The US house controls the purse strings. We hire them. Enough blame fore every one, don’t crowd the line. Everyone in DC gets a heaping serving though.
I didn’t hear too many complaining when the equity in their houses went through the roof.
I just wish I was not so stupid to see the bubble and jump out when it has happened twice already in my investing history.
If people had any certainty about the future, or even any optimism, you would expect the market to be moving up.
You must be kidding!
You'd have a hard time convincing me. I will grant that Dubya has a part in the situation. He didn't do anything to stop the reckless lending habits forced on the banking industry by Carter, Clinton, and Obama's friends at ACORN. In fact, he may have embraced it as though he was going to garner the "deadbeat" vote that the dems generally own. And, of course, we know the effects that lending to non-creditworthy borrowers has had on the mortgage and banking industries.
But let's look at the pattern that the DOW has taken these last few months. It took its big plunge when the bailout was announced. Why? Perhaps because socialism was being introduced in a grand way. Perhaps because there weren't any funds to support the bailout. Perhaps because the taxpayers were going to be carrying this enormous debt until death. At any rate, that was the first big piece of the plunge. Perhaps wall street saw McCain's numbers drop dramatically when he mishandled the situation.
At any rate, once that drop occurred, it bounced around between roughly 8500 and 9500, with movements fairly well correlated to McCain's polling numbers. McCain up - DOW up. McCain down, DOW down. It rallied near the election because the poll numbers were tightening. Those in the market sensed that there was a chance that blatent, over-reaching socialism was not in our future. But, alas, McCain did not win. And the market is beginning to reflect the reality of thousands of miniature reenactments of "Atlas Shrugged" are taking place around the country.
See Barney frank and Chris Dud and democrat party remember when Jimmy Carter ended red line banking?.