re: Fannie Mae Downgrades Housing, Origination Forecast

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Millennials the only generation about to go through TWO significant economic hardships

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The economy tanked even steeper in 1920-21 than it did in 1929. But in the 1920 downturn we had a true conservative president who didn’t interfere with the economy. He cut spending and cut taxes. The result was the economy quickly rebounded. So Rapid was the recovery, few people today even realize the economy totally collapsed at the start of the 20s.

In 1929 we had a progressive president (yes, Hoover was a progressive despite having an (R) next to his name) followed by an even more progressive president in Roosevelt. They tried to control the economy and tax and spend the way out of the downturn. The result was the decade long Great Depression.

Sadly, we as a people have failed to grasp the lessons to be learned from these historical events.