posted on Jul, 17 2012 @ 11:41 AM
Originally posted by Eurisko2012
Originally posted by kozmo
Originally posted by nixie_nox
The biggest economic boon the US had was under the Clinton Adminstration when corporate taxes were the highest.
FALLACY! You fail to see cause and effect. Under Clinton you had an ARTIFICIAL housing boom which later busted. Under Clinton you had the repeal of
Glass-Stegall which saw UNPRECEDENTED investment into the private sector by banks - which has led to one economic catastrophe after another and we're
nowhere near the end yet! Wait until derivatives start to collapse... all $90 trillion of them!
If you are advocating for fake economic booms hidden behind central banking manipulation, economic bubbles and illegal investments, then you can count
I think Clinton had the stock market dot.com bubble.
The housing bubble popped around 2006. Remember?
I'm not talking about when they popped, I'm talking about when they were created. The creation of these false economic booms yielded what appeared to
be strong economic growth. The Federal Fair Housing Act and the Community Investment Act plus the Urban Development Initiative essentially forced
banks to lend to people who weren't credit-worthy and caused inflation in housing. That inflation yielded profit and made everything think that the
economy was experiencing explosive growth - and it was, artificially.
The repeal of Glass-Stegall did the same thing. Suddenly S&Ls were legally allowed to become investment houses and vice-versa. Predictably, banks
started bundling all of the questionable loans and sold them off as CDOs so shake them off their books AND to record a profit. The great investment
cycle caused all types of investments to artificially increase and those profit-makers injected their cash into the system - again, making it appear
that everything was all boom.
Then, all of the sudden, the floor fell out - which what inevitably happens in artificailly created boom cycles - they bust! Nothing has been fixed
and the economy is limping along on wire hangers and duct tape. The day of reckoning is soon at hand and cannot be avoided, no matter what. The
correction will be long and extremely difficult for the majority of humans!
So, I understand your focus on the bust, but busts cannot occur without booms. You must look and when and how a boom was created to understand the
bust. The booms were created under Clinton and busted under Bush. Don't get me wrong... I'm not playing the red/blue game here as BOTH parties are
opposite sides of the SAME coin! In fact, I'll go so far to state that I believe these cycles are specifically created for the top 1% to extract
wealth at the expense of middle class workers. All you have to do is follow is the money.
edit on 17-7-2012 by kozmo because: (no reason given)