The Dot Com Bubba Bubble cracked a full year before Clinton left office, and the NASDAQ was down $2.5 trillion before Clinton was gone. All leading indicators were falling like a coyote off a cliff when Bush took office, but Marxists pretend to this day that the economy was rising in 2001 and Bush ruined it. Utter nonsense.
Then the Democrats’ Unaffordable Housing Project crashed in 2007, and the whole economy crashed in 2008 the same week that a Marxist secured the votes for the Democratic Party nomination for president. President Bush and Senators Hagel and McCain tried to reform Fan and Fred beginning in 2003, but Senate Democrats blocked the reforms until after the housing bubble crashed.
The fourth-largest economic bubble (dot com) in history and the second-largest economic bubble (housing) in history were the direct product of Democrats/Marxists trying to manipulate the economy and buy votes with the taxpayers’ money. Both were social and economic disasters, creating huge unemployment and destroying wealth. Democrats/Marxists always lie about their record, but it is muddle-headed thinking that allows Conservatives to believe what a Democrat says.
So far the Obama’ administration’s answer has been to devalue the currency, wantonly cast blame while avoiding responsibility, and pay off the votes they got in 2008. If you take the job, do the job.
He can give speeches to the people. And deceive, woo or mislead people into believing that economy is improving and that his policies “can” work. But he cannot “convince” or hypnotize the economy itself. The economy will always be driven by the economic laws which are like forces of nature, work whether someone likes it or not. When socialists try to distort these, the economy suffers, and it always responds in a way that makes it very clear what works and what does not. Look, USSR tried to control every aspect of the economy. All they got was horrendous distortions, shortages of everything imaginable. But, there were always “market forces” albeit driven into the shadows that proved that only free enterprise works. Obama may think he is the greatest speaker of our time, but even he cannot “convince” the economy to work contrary to market principles. No matter how much make-believe wishful thinking he puts behind it.
Historically, housing leads the American economy. The age old “buy, low sell high” concept is on display, and we are seeing now is the “evil” 1% in the position of leading the economy by building and purchasing homes and real estate investment. When a person a stable career and vision of building a future they buy a home. Rank and file employees rent, and “citizens” enjoy public housing and public assistance.
The economic engine of this country, middle class small business, is going to lead the recovery by investing in their personal and business future using real estate as a vehicle. No socialist policies that reward mediocrity will suffice. No “programs” or as I like to call them “government games” will suffice. Only the leveraging of economic opportunity by intrepid, hardworking individuals will move the economy in a positive direction.
We got the change, and it has resulted in a distinct lack of hope. Smart, hardworking people will make money in any market. Be smart and work hard, make money and help America recover.