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re: First in my lifetime

Posted on 12/4/24 at 10:51 pm to
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
46333 posts
Posted on 12/4/24 at 10:51 pm to
Texas also felt very little of the Covid pain the 1st 2 years. Prices didn’t start to feel OOC until early 2023.
Posted by Jake88
Member since Apr 2005
79786 posts
Posted on 12/4/24 at 10:57 pm to
quote:

during the presidencies of George W. Bush (the Great Recession)
The Bush administration warned the democrat congress 17 times about the pending problems and people like Greg Meeks and Barney Frank laughed it off. The impetus for the collapse started during the Carter administration with the Community Reinvestment Act of 1977, and was accelerated with the Clinton administration repealing Glass-Steagall. Learn some history.

quote:

This upcoming transition marks a unique moment, as it will be the first time in in most of our lives (40 and under) that a Republican president will take office during a recessive/challenging economic climate
This is stupid, the tech bubble was bursting as Clinton left office and then 9-11 happened. Again, learn some history.
This post was edited on 12/4/24 at 11:02 pm
Posted by SoDakHawk
South Dakota
Member since Jun 2014
10604 posts
Posted on 12/4/24 at 10:59 pm to
Yeah, was more talking about day-to-day life. SoDak, Iowa, Nebraska, the area I live in was disrupted a little at first but things were normal here. When I traveled to Minnesota, Colorado, Wisconsin, and Michigan, it was very different.

I have friends in Minnesota and Michigan with kids and those kids lives were seriously impacted by the stupid COVID policies. Life changing. It's really sad the impact it had on them.

Nationwide inflation F'd US all, and we're still paying for it. But the decisions of the governors who shut down their states, and especially what they did to their kids, it's criminal.
Posted by Jake88
Member since Apr 2005
79786 posts
Posted on 12/4/24 at 11:04 pm to
quote:


The Great recession started in 2000? Idk what school you teach at
Oh, you're a dumbshit. I see you had to edit.
Posted by DyeHardDylan
Member since Nov 2011
9628 posts
Posted on 12/4/24 at 11:15 pm to
quote:

the two major economic downturns occurred during the presidencies of George W. Bush (the Great Recession)


As it turned out, artificially low interest rates for a decade under Greenspan, and Bush’s promise to make housing affordable for everyone, was neither conservative nor economically sound.

quote:

Donald Trump (the Pandemic Recession


Trump’s worst mistake by far in his first presidency was listening to “experts” like Fauci and Birx who really thought closing down the economy and any semblance of society for an extended period of time was wise. Let’s face it, Covid was way overblown and we are still dealing with the consequences of the shutdowns, 4 years later. The whole 15 days to slow the spread thing was one of the most catastrophically stupid policies ever promoted.

Overall, though, the argument that an economy is worse or better off because of a President is pretty shallow. The Federal Reserve is what really manages the economy, and the board is nominated by the President and approved by the Senate for a fixed term. They set the conditions for interest rates to be manipulated, thus causing distortions and bubbles in the economy. Fiscal policy can play a part, but it is all facilitated by the Fed and their control over the money supply. If I’m Trump, I do three things -
1. Get Jerome Powell out immediately
2. Get behind a bill to audit the Fed
3. Set up a commission on money and gold like we had in the 1980s with Lewis Lehrman and Ron Paul

This post was edited on 12/4/24 at 11:39 pm
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
46333 posts
Posted on 12/4/24 at 11:22 pm to
quote:

Nationwide inflation F'd US all, and we're still paying for it. But the decisions of the governors who shut down their states, and especially what they did to their kids, it's criminal.


Preach.

My son’s school was closed the 1st 2 weeks of the school year, then was online for 4 weeks then it was parent decision if children went to school or learned online. Over 70% of kids went to school the rest of the time.

Parents here were extremely vocal and insistent that the social and mental health needs were just as important and physical health. The teachers who refused to return to the classroom either taught online classes or were laid off.

We were allowed to continue playing tennis as long as it was singles only and each person only served/touched their own balls. Karen’s kept calling to report us but cops would just come by and make sure we were staying at least 6’ away from each other. They did take away our court benches, scoreboards and water coolers.

I will always appreciate how my state and local government allowed us to continue living a relatively normal life during that time compared to many other states. They were also much faster than most of the country to reopen businesses and full church services.
Posted by Wolfwireless
Member since Aug 2024
4783 posts
Posted on 12/5/24 at 9:55 am to
quote:

Whoa. I’m a late Gex X and I don’t think I have anything in common with millennials or later generations. The first presidential election I remember watching was Reagan when I was 6 years old. Clinton’s 1st term was the first time I was eligible to vote. I clearly remember those times.


My bad. I put x instead of z. Corrected that in my post.
Sorry for the misunderstanding there.
Especially since I'm Gen x too
Posted by YouKnowImRight
Parts Unknown
Member since Oct 2023
2951 posts
Posted on 12/5/24 at 10:17 am to
I'm not scanning the responses to see if this has been mentioned, but if it has it bears repeating.

A recession is not a bad thing. It is a market correction that trims the fat of bad investment out of the economy. Also, a recession typically takes place when the economy is peaking, which typically happens during Republican administrations.

Clinton's economy was saved by Gingrich and company and his willingness to moderate.

Bush's recession was driven by the subprime crisis, a direct result of three terrible pieces of legislation (1977 Community Reinvestment Act, the 1999 Gramm-Leach-Billey Act, and the 2000 CFMA)...all signed by Democrat Presidents. The Bush administration warned Congress for years that mortgage backed securities and the management of Freddie and Fannie were going to be a big problem, and nothing was done. Source

Obama is the only US president to serve 8 years and never see a 3.0% positive GDP growth. Source

COVID was an outlier based on global overreaction to the flu.
This post was edited on 12/5/24 at 10:19 am
Posted by lake chuck fan
Vinton
Member since Aug 2011
23514 posts
Posted on 12/5/24 at 10:24 am to
quote:


Another note--throughout President Biden’s tenure, the US economy has shown resilience, notably outperforming all other countries in its recovery from the global pandemic.


We outperformed other countries because our economic system is still the best. Sure, we have too many regulations and need to make changes, but we haven't collapsed. Biden had nothing to do with the rebound of our economy.
Well, he sure increased the revenue of the MIC!
There's that....
Biden is responsible for the economy down turning as much as it did. Biden kept the lockdown going way way too long.
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
46333 posts
Posted on 12/5/24 at 10:25 am to
quote:

My bad. I put x instead of z. Corrected that in my post.
Sorry for the misunderstanding there.
Especially since I'm Gen x too


Yeah. I figured it was a typo bc it didn’t even make sense after I thought about your point
Posted by Zach
Gizmonic Institute
Member since May 2005
117455 posts
Posted on 12/5/24 at 10:30 am to
George W. Bush's economy was the Golden Age of America compared to Jimmy Carter. The democrats couldn't hide the economic mess so they invented a new term 'The New Normal.'
Posted by Snipe
Member since Nov 2015
16546 posts
Posted on 12/5/24 at 10:38 am to
quote:

Historical data indicates that the US economy has often demonstrated stronger performance under Democratic administrations. While most here will dispute this perspective and chalk it up to fake news, the fact remains that in my life time, the two major economic downturns occurred during the presidencies of George W. Bush (the Great Recession) and Donald Trump (the Pandemic Recession). Furthermore, of the 11 recessions in the modern era, 10 commenced under Republican presidents.


It's like you don't understand that the consequences of poor decisions and actions take time to rear their ugly heads.

GWB's great recession was caused by Bill Clinton's ignorant housing policies which caused the bubble.

The pandemic isn't even comparable to true policy based economic downturns. So attaching that to Trump is stupid and I would have said the same thing if Hillary was in office.

This post was edited on 12/5/24 at 12:08 pm
Posted by CA Jones
Member since Jan 2021
322 posts
Posted on 12/5/24 at 10:45 am to
In the 8 years of The Obama Administration, not ONE manufacturing job was created. The only jobs created were Government and Medical (quasi-government ) . Despite the huge increase in government spending and debt, we had 8 years very low growth and prosperity. Contrast that with the first year of The Trump Administration.
Posted by Wolfwireless
Member since Aug 2024
4783 posts
Posted on 12/5/24 at 11:36 am to
quote:

quote:
My bad. I put x instead of z. Corrected that in my post.
Sorry for the misunderstanding there.
Especially since I'm Gen x too


Yeah. I figured it was a typo bc it didn’t even make sense after I thought about your point


Hahaha yeah. A really silly mistake on my part. Appreciate the understanding
This post was edited on 12/5/24 at 11:37 am
Posted by 19
Flux Capacitor, Fluxing
Member since Nov 2007
35668 posts
Posted on 12/5/24 at 11:40 am to
Under the W administration, the chickens from Clinton's "booming economy" came home to roost.

Make no mistake, W was a grade-A frickup, but that would've been Gore's toilet to scrub had he more votes in his lockbox.
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
46333 posts
Posted on 12/5/24 at 12:05 pm to
quote:

At best, it's a problem from the intellectual and academic communities.
As I posted back on another comment, they're literally lying about history to these students, from an activist viewpoint.
And since kids have no idea what really happened, they don't know it for the lie.

But yeah. I'm glad to see that he's at least paying attention.


This is exactly why we focused so heavily on logic and critical thinking with our son his entire life. He was never just told an answer without first bringing him through the thought process that got us there. He has never given us a viewpoint that wasn’t critically challenged to determine if it was thought through or simply parroted. I lost my first debate to him when he was 10. I’ve lost a few since then.

My point is that the only way to truly inoculate your kids against this type of academic dishonesty is to teach them to challenge everything intellectually. It freaked sucked as a parenting technique bc it was exhausting and I feel like I’m not getting our moneys worth with him just going for a business degree when he clearly should go into law.
Posted by Lizardman2
Member since Jan 2024
2746 posts
Posted on 12/5/24 at 12:09 pm to
OK paw paw.

It's not Democrats of the past that were bad.

It's the Lefty Dem's that pervaded the government and tainted the Democratic Party. The same the likes of you and too many others apparently supported and allowed.

So frick that whole little smarmy look into your life.
Posted by LSUGrrrl
Frisco, TX
Member since Jul 2007
46333 posts
Posted on 12/5/24 at 12:10 pm to
quote:

OK paw paw.


quote:

The same the likes of you and too many others apparently supported and allowed.


He was 12 in 2000.
Posted by back9Tiger
Island Coconut Salesman
Member since Nov 2005
17930 posts
Posted on 12/5/24 at 12:27 pm to
quote:

I may have miscalculated the age of this board.


Looks like you miscalculated a lot. Regan, took over the worst economy ever after Carter and Biden has made Carter look like a good president.

We are where we are thanks to a Democrat Administration.
Posted by FredBear
Georgia
Member since Aug 2017
17382 posts
Posted on 12/5/24 at 12:38 pm to
quote:

The Bush administration warned the democrat congress 17 times about the pending problems and people like Greg Meeks and Barney Frank laughed it off.



Yep, I distinctly remember Bush warning about the looming housing bubble and the Democrats said he just didn't want black people to own homes.

The OP knows this to, he's just talking out of his arse
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