DOTR
Gold Member
- Oct 24, 2016
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Yes, it was called The Great Recession, and Obama inherited it, he didn't invent it.
Yes it was. It was painful to be in the stock market then. Even with huge rate cuts and four QEs it took years for the Obama economy just to pull even with 2007.
And we still havent paid the full price.
Tax revenues tumbled, unlike in lesser recessions, and the housing boom stole years of growth from the future. Residential construction is a reliable driver of the domestic economy, and the housing crash left 17 million empty houses in America. QE was a necessary boost, in the face of a GOP Congress whose main priority was making O a one-term president. Without the rate cuts and QE, it would have taken years longer.
I think the rate cuts and QE delayed the recovery. But who will ever know now. G Bush warned what...17 times that a housing crash was coming? And the Democrats sad he was a racist who didnt want blacks to own homes.
QE was quite unnecessary. The recession was an excuse to impose more government on the economy.
Or does it normally take ten plus years for interest rates to normalize after a recession?
"Never let a crisis go to waste" right?
The greatest economic crisis since the Great Depression wasn't a run-of-the-mill recession.
Blah, blah on the housing crash.
Well not after the greatest government intervention since the great depression it wasnt.