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re: When a lib says Trump inherited a hot economy.
Posted on 9/9/18 at 4:58 pm to MStant1
Posted on 9/9/18 at 4:58 pm to MStant1
quote:Bernanke did a great job along with Paulson and Bush in stemming Bank Failures with TARP.
I’ll take Bernanke’s word on the matter.
If he actually claimed 12 of 13 banks were on the verge of collapse though, he's confabulating. There were certainly 3 or 4 in imminent dire straits, maybe others would have eventually followed suit.
But you make a good point. The danger of a spreading financial catastrophe was stemmed in October 2008. Obama subsequently piggybacked on W's economic program for 4yrs, before fully implementing redistributional obamanomics to lock in that sub-3% growth you seem to tout.
Posted on 9/9/18 at 6:40 pm to NC_Tigah
quote:
Bernanke did a great job along with Paulson and Bush in stemming Bank Failures with TARP. If he actually claimed 12 of 13 banks were on the verge of collapse though, he's confabulating. There were certainly 3 or 4 in imminent dire straits, maybe others would have eventually followed suit.
Yeah Bernanke certainly was known for hyperbole and exaggeration.
![](https://images.tigerdroppings.com/Images/Icons/Iconrolleyes.gif)
Kudos though to staying consistent on underplaying the severity of the financial crisis.
![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
quote:
But you make a good point. The danger of a spreading financial catastrophe was stemmed in October 2008. Obama subsequently piggybacked on W's economic program for 4yrs, before fully implementing redistributional obamanomics to lock in that sub-3% growth you seem to tout.
Wasn’t touting anything. I was a very vocal critic of Obama and his policies when he was president. My overall larger point is that the notion that Trump inherited an economic disaster is objectively false. Was the economy red hot? No, but Trump did inherit the then 4th longest expansion in US history along with steady and consistent job growth for the prior couple of years.
I’m happy the economy is growing under Trump, but let’s not pretend he is a miracle worker when in reality the upward Trend was already well under way when he took office.
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