The Democrats' Recession

Discussion in 'Politics' started by Revmitchell, Nov 17, 2008.

  1. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,371
    Likes Received:
    790
    The market has fallen in six of eight days since Barack Obama won the election. The Dow Jones Industrial average has fallen from 9,625 to 8,497, a 12 percent decline. The NASDAQ and S&P 500 have experienced similar declines.

    The Wall Street Journal and others have labeled the drop the “Barack Market,” reflecting the higher taxes on everything from capital gains and dividends to income and increased regulations. They are right, but they are thinking much too narrowly. Much, if not all, of any recession and economic problems is due to Democratic policies.

    The media focuses on the drop in housing prices, consumer purchases or stock prices as the cause of economic problems, problems that they view as unrelated to Democratic policies.

    The financial problems seem obvious. Democrats have been the ones pushing for federal regulations that forced financial institutions to make risky loans either though the threat of penalties from the Federal Reserve or through subsidies from Fannie Mae and Freddie Mac. They protected Fannie Mae and Freddie Mac from regulations

    More Here
     
  2. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    Kind of a biased view since the market hit is lowest point before Obama was elected. In fact, it was the low drop in the market that got him elected.
     
  3. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158
    And rather strange to blame Obama as he is not in office yet. But of course, Rev is a Bush supporter like Bush can never admit a mistake and cares little of the real issues.

    There is a name for this psychological syndrome. :laugh:

    This economy is just another of a long line of disasters brought on by the Republicians rubber stamping everything Bush wanted. Now Rev and others want to blame the chickens for what the fox has done.
     
  4. saturneptune

    saturneptune
    Expand Collapse
    Banned

    Joined:
    Jan 16, 2006
    Messages:
    13,977
    Likes Received:
    0
    Actually Rev Mitchell supported a third party, the Constitution Party, I believe. There is plenty of blame to go around for the current situation, Democrats, Republicans, and our own greed. While the focus has been on Bush and the Republican Congress, the Democrats have been in charge of Congress for two years. In addition to that, this whole mess started with the ridiculously lax requirements for a loan from Freddy and Fannie started during the Clinton years, when there was a Democratic President and a Republican Congress.

    This is a mess of our own creation, and blaming one party over another will not solve the problem. There is also the factor of the economic cycles we have gone through since we became a country.
     
  5. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158
    He says he did, but his posts are always anti anyone but Bush and conservatives. I believe he may have voted 3rd party, but is a closet Bush supporter.



    The first step on this slippery slope to the edge of the cliff started before Clinton. It took a long time to get to this mess and will take a long time to get out of it. To blame the current recession on Obama is silly. In fact this recession, I believe, will be shown to have started early in the campaign before he was even the candidate for president.

    I agree. And the American public is also to blame. Greed on all levels has brought us to this point.
     
  6. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,927
    Likes Received:
    296
    It really doesn't matter who the president is.

    It is still the democrat's recession.
     
  7. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158

    Sure and ever recession has been. :laugh: :laugh:
    And that is besides the fact that ever recession from the Great Depression to this day has occured under a Republican president. Go study your history Carp. :laugh:

    Do you want me to give you the list again?
     
  8. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,927
    Likes Received:
    296
    Save your list.

    The others don't matter. This one does...

    and the blame lies squarely in the lap of democrats.



    Coupled with their absolute refusal to recognize the problem when it was repeatedly brought to their attention by the Bush Administration, the chickens came home to roost.
     
  9. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,927
    Likes Received:
    296
    The warnings were there as well.


    Democrats plowed ahead and precipitated the current financial crises.
     
  10. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158
    Your prejudice blinds you to the reality of history. Historical facts are neither consevative nor liberal ... and historical facts show Republicians are the party of recession.

    Do you want me to list the recessions again?
     
  11. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,927
    Likes Received:
    296
    Even Bill Clinton agrees...

    after his obligatory lie about his own role in it.


     
  12. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158
    No links, only your opinion. But the slippery slope all began with Reagan. History has shown that.

    http://www.nytimes.com/2008/03/14/opinion/14krugman.html?_r=2&hp&oref=slogin Note the date March 3, 2008.

    The current recession, which will be known at the Bush Recession began in the first quarter of 2008.

    http://downwithtyranny.blogspot.com/2008/03/bush-recession-will-be-both-deep-and.html

    We even has a recession during Reagan's time in office.

    http://209.85.129.132/search?q=cach...ion+recession+reagan&hl=cs&ct=clnk&cd=1&gl=cz

    And now we a are reaping what he began later. Insensitivity to the needs of the average American has become a continuing factor in Republican politics, while looking our for the rich has also been a factor in their politics.
     
    #12 Crabtownboy, Nov 18, 2008
    Last edited by a moderator: Nov 18, 2008
  13. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    Lets not give anyone too much credit. This recession is a result of the hard work of the entire spectrum of the Republicat Party.
     
  14. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,650
    Likes Received:
    158
    You are right of course. But like the sign on Harry Truman's desk said, "The Buck Stops Here." So because G. Bush was the sitting president I predict the current mess will be called the Bush Recession .... let us pray it does not become the Bush Depression.

    Churches, denominations, seminaries, etc. as all really being hurt by this economic downturn. Sadly, I predict that a number of seminaries and Bible schools will be forced to close.
     
  15. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    Well the democrats have been praying for a recession ever since bush led us out of the Clinton and 9/11 recession. They got what they want but they don't really care, just another excuse to advance their goal, Socialism.:BangHead:
     
  16. rbell

    rbell
    Expand Collapse
    Active Member

    Joined:
    Jan 16, 2006
    Messages:
    11,103
    Likes Received:
    0
    Wait a minute. So the only pertinent fact regarding recessions is...who is president at the time?

    I seem to recall that constitutionally, congress bears more responsibility than the president for economic issues.

    Oh, I forgot...it's a "living" document...

    Let's face it: no party has monopoly on this.
     
  17. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    Two points:

    1. The NY Times is not a reputable source of anything other than perhaps the date.:tonofbricks:


    2. I just found out that I was a rich Republican. Of course if you are just one among 50-60 million it doesn't mean much.:BangHead:

    Does this mean all democrats are on welfare?:laugh:
     
  18. rbell

    rbell
    Expand Collapse
    Active Member

    Joined:
    Jan 16, 2006
    Messages:
    11,103
    Likes Received:
    0
    A fact of markets: They hate uncertainty.

    Obama ran a campaign that is a bit short on specifics. IMO, the market is going to be skittish until they know what his plan is.

    That particular factor isn't a democratic or republican issue...had McCain won, and had he been nebulous in his plans, I think the reaction would have been the same.
     
  19. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53

    History of Economic Recessions in The United States
    This is a detailed history of economic recessions that have affected the United States economy.
    A recession is defined as two or more quarters of sustained negative GDP growth.


    OCTOBER 2008 - CURRENT
    In 2008, the possibility of an economic crisis was suggested by several important indicators of economic downturn worldwide. These included high oil prices, which led to both high food prices (due to a dependence of food production on oil production) and global inflation; a substantial credit crisis leading to the bankruptcy of several large and well established investment banks; increased unemployment; and a global recession developed. According to the definition above this cannot yet be called a recession.

    President: George W. Bush (R) [2001-2009]


    Early 2000's Recession

    APRIL 2000 - OCTOBER 2001 (18 months)
    The collapse of the dot-com bubble, the September 11th attacks, and accounting scandals contributed to a relatively mild contraction in the North American economy.

    President: William J. Clinton (D) [1993-2001]

    Early 1990's Recession

    JULY 1990 - APRIL 1991 (10 months)
    Industrial production and manufacturing-trade sales decreased in early 1991.

    President: George Bush (R)


    Early 1980's Recession

    APRIL 1980 - OCTOBER 1982 (30 months)
    The Iranian Revolution sharply increased the price of oil around the world in 1979, causing the 1979 energy crisis. This was caused by the new regime in power in Iran, which exported oil at inconsistent intervals and at a lower volume, forcing prices to go up. Tight monetary policy in the United States to control inflation lead to another recession. The changes were made largely because of inflation that was carried over from the previous decade due to the 1973 oil crisis and the 1979 energy crisis.

    President: Jimmy Carter (D) [1977-1981]

    Oil Crisis of 1973

    APRIL 1973 - APRIL 1975 (24 months)
    A quadrupling of oil prices by OPEC coupled with high government spending due to the Vietnam War lead to stagflation in the United States.

    President: Richard Nixon (R)


    Recession of 1957

    JULY 1957 - APRIL 1958 (10 months)
    Monetary policy was tightened during the two years preceding 1957, followed by an easing of policy at the end of 1957. The budget balance resulted in a change in budget surplus of 0.8% of GDP in 1957 to a budget deficit of 0.6% of GDP in 1958, and then to 2.6% of GDP in 1959.

    President: Dwight Eisenhower (R)


    Recession of 1953

    APRIL 1953 - APRIL 1954 (12 months)
    After a post-Korean War inflationary period, more funds were transferred into National security. The Federal Reserve changed monetary policy to be more restrictive in 1952 due to fears of further inflation.

    President: Dwight Eisenhower (R)


    Recession of 1947

    APRIL 1947 - OCTOBER 1947 (12 months)
    Stock markets crashed worldwide, and a banking collapse took place in the United States. This sparked a global downturn, including a second, more minor recession in the United States, the Recession of 1937.

    President: Harry S. Truman (D)


    The Great Depression
    1929 - 1939 (120 months)
    The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries. It was the largest and most important economic depression in modern history, and is used in the 21st century as a benchmark in how far the world's economy can fall. The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929, known as "Black Tuesday". The end of the depression in the U.S. is associated with the onset of the war economy of World War II, beginning around 1939.

    President: Herbert Hoover (R) [1929-1933]
    Franklin D. Roosevelt (D) [1933-1945]


    Post-WWI Recession
    1918 - 1921
    Severe hyperinflation in Europe took place over production in North America. It was a brief, but very sharp recession and was caused by the end of wartime production, along with an influx of labor from returning troops. This in turn caused high unemployment.

    President: Woodrow Wilson (D)


    Panic of 1907
    1907 - 1908
    A run on Knickerbocker Trust Company deposits on October 22, 1907 set events in motion that would lead to a severe monetary contraction.

    President: Theodore Roosevelt (R)


    Panic of 1893
    1893 - 1896
    Failure of the United States Reading Railroad and withdrawal of European investment lead to a stock market and banking collapse. This Panic was also precipitated in part by a run on the gold supply
    .
    President: Grover Cleveland (D)


    Panic of 1873
    1873 - 1879
    Economic problems in Europe prompted the failure of the Jay Cooke & Company, the largest bank in the United States, which bursted the post-Civil War speculative bubble. The Coinage Act of 1873 also contributed by immediately depressing the price of silver, which hurt North American mining interests.

    President: Ulysses S. Grant (R)


    Panic of 1857
    1857 - 1860
    Failure of the Ohio Life Insurance and Trust Company burst a European speculative bubble in United States railroads and caused a loss of confidence in American banks. Over 5,000 businesses failed within the first year of the Panic, and unemployment was accompanied by protest meetings in urban areas.

    President: James Buchanan (D)


    Panic of 1837
    1837 - 1843
    A sharp downturn in the American economy was caused by bank failures and lack of confidence in the paper currency. Speculation markets were greatly affected when American banks stopped payment in specie (gold and silver coinage).

    President: Martin Van Buren (D)


    Panic of 1819
    1819 - 1824
    The first major financial crisis in the United States featured widespread foreclosures, bank failures, unemployment, and a slump in agriculture and manufacturing. It also marked the end of the economic expansion that followed the War of 1812.

    President: James Monroe (I)


    Before you start mouthing off Crabtownboy check history!:laugh: :laugh:
     
  20. JustChristian

    JustChristian
    Expand Collapse
    Banned

    Joined:
    Jun 12, 2007
    Messages:
    3,833
    Likes Received:
    0
    The market might have lost 14% on the Dow since Obama was elected but that's just the continuation of a 43% loss in the DOW in the last year. The evidence is clear. This is a Bush led Republican recession/depression.
     

Share This Page

Loading...