I love when Republicans are like “Democrats blamed Bush for the bad economy, and now are giving Obama the credit for Trump’s economy!”
Do they not understand that the president picks up where the last president left off? Unemployment was rocketing towards 10% when Obama took office. It was nearly 4% when he left office.
It’s kinda scary how all these Trump fans said the unemployment numbers were fraudulent and the economy was terrible until the day Trump took office. Do they think the (already legitimate) economy suddenly legitimized instantly under Trump? I really can’t keep up with the mental gymnastics.
People think that Obama left the nation a good economy. The truth is, Obama was handed a pile of shit from the Bush administration, and it hasn't actually been fixed. He dressed it up to look nicer in the short term, but the truth is that Obama had to put interest rates to 0% in order to save the global economy. Wasn't his fault and it had to be done.
Any time interest rates are near 0% it's a major problem. They are currently 2.25-2.5 but can't be raised further without paying off more debt first. Raising them is a major uphill battle that is futile.
We've seen this cycle before. Near 0 interest rates leads to major economic boom (see stock market, magnitudes higher than dotcom and housing bubble eras). This also dissolves middle class, and ultimately causes a depression. Depression is the end of the long term debt cycle which takes about 80-100 years to complete. So we're definitely due for one.
wrukproek on April 13rd, 2019 at 11:54 UTC »
With a small loan of 1 million dollars
WooIWorthWaIIaby on April 13rd, 2019 at 13:02 UTC »
I love when Republicans are like “Democrats blamed Bush for the bad economy, and now are giving Obama the credit for Trump’s economy!”
Do they not understand that the president picks up where the last president left off? Unemployment was rocketing towards 10% when Obama took office. It was nearly 4% when he left office.
It’s kinda scary how all these Trump fans said the unemployment numbers were fraudulent and the economy was terrible until the day Trump took office. Do they think the (already legitimate) economy suddenly legitimized instantly under Trump? I really can’t keep up with the mental gymnastics.
dilsweed on April 13rd, 2019 at 15:55 UTC »
People think that Obama left the nation a good economy. The truth is, Obama was handed a pile of shit from the Bush administration, and it hasn't actually been fixed. He dressed it up to look nicer in the short term, but the truth is that Obama had to put interest rates to 0% in order to save the global economy. Wasn't his fault and it had to be done.
Any time interest rates are near 0% it's a major problem. They are currently 2.25-2.5 but can't be raised further without paying off more debt first. Raising them is a major uphill battle that is futile.
We've seen this cycle before. Near 0 interest rates leads to major economic boom (see stock market, magnitudes higher than dotcom and housing bubble eras). This also dissolves middle class, and ultimately causes a depression. Depression is the end of the long term debt cycle which takes about 80-100 years to complete. So we're definitely due for one.