Replies to post #413174 on Zeev's Turnips Talk Politics (ZTTP)

[jigfish]

Sylvester, NOT SO and you should know better. Oh well, it is like talking to a chimp so I am out of here; need to go move some low life white trash out of a rent house.

"The housing/credit bubble was created between 2001 and 2006."

[PegnVA]

The next wave of housing foreclosurers will be the result of jobs lost.
Cleaning up from EIGHT YEARS of The Decider in the oval office will be long and painful.

[DERBENSKI]

sylvester80

Supposing the democrats were in power during that time? Would it be decidedly different now? Aside from the Iraq war, probably not.

If you look at the GDP numbers and pull out the effects of the housing bubble, related industries and jobs, we would have had negative GDP numbers. That is before the stimulus spending of the war.

Remove war and housing and our economy would have been in the crapper from 2003 onward and we would be experiencing our recession then.

So if the dems were in power, they would have stimulated the economy with what? I support neither the war or the housing bubble. I just want to know exactly what would be different if the dems were in power?

The problem is that our economy is missing a key leg, manufacturing, otherwise known as "high paying jobs" in relation to fast food and retailing. If Obama does not move to replace manufacturing back into America we are going to end up in a debt ball and currency crash.

We can responsibly move ourselves back into position or we will be moved into position by the market. Either way we will get there but the consequences of the latter will be much more painful.

Supposing deficits do matter, then we have to correct our trade deficit. Currently the dollar is moving in the wrong direction.

Derb