As Usual...
"that the idea that enough time has passed that we can’t blame Bush is especially wrong-headed given the nature of our problems. We’re in the aftermath of a financial crisis — and there’s overwhelming evidence that recovery from financial crises is almost always protracted and difficult. There’s no way one should have expected everything to be fine until the Lehman failure lies years in the past. In fact, the return of job growth we’ve already seen is ahead of schedule compared with the historical average.
And one thing is clear: the financial crisis occurred on Bush’s watch. To demand that everyone let Bush off the hook for where we are now because 16 months have passed under his successor is to defy the overwhelming evidence of history."
It is vitally important that we not let Bush off the hook for this disaster. This is not for political reasons, but until it is made clear that it is not just Bush, but the eternal Republican economic program which he implemented that caused not just this latest economic collapse, but the Great Depression too.
Otherwise, the Republicans may very well succeed in stampeding the American people into taking power away from the current incumbents and returning it to themselves, so they can continue their nearly-completed job of wrecking us all.
It is not political pettiness that places the responsibility for the economic collapse on the Bush administration- it is the simple truth.
Comments
If I recall correctly, it occurred under the watch of the Democrats in Congress. Congress has more control over the economy than the President does. Just sayin', it is a stupid blame game for Democrats to try and play.
You are destroying your own life, Derek, by refusing to see how, for the second time in a century, Republican economic "policies"- i.e. simply capitulating to the short term desires of the rich- have brought this country to the brink of disaster. It's time for you to face the truth.
My point was that Krugman was blaming Bush because the crash "occurred under his watch", even though it occurred under a Democratic congress. Your whole argument about how Republicans caused the recession neglects simple economics, pointing to tax cuts as the main cause. Anyone who thinks tax cuts cause recession has their head up you know what.
"for the second time in a century"
Are you suggesting the great depression was caused by conservative economics? Because it was caused by an inflexible money supply and strict protectionism.
You say: "My point was that Krugman was blaming Bush because the crash "occurred under his watch"
This is false. We are blaming Bush and Reagan and all the rest of them, because the crash resulted from their phony economic "theories," which we know even they don't believe, and which were nothing but an opportunity to excuse the most malignant behavior by the rich.
Amen.
Was this in reply to the same Derek who said of off shore drilling happening off the coast of Republican leaning states,"SUUWEEET, Republicans get the revenues!"?
That was classic, Derek.
You're quite the analyst and prognosticator.
It takes that kind of intellect and analysis to defend Bush.
Suuweeet, indeed.
Krugman blames Bush for the same reason I do.
That is what Krugman said. "financial crisis occurred on Bush's watch". Other than overspending, causing inflation, the Bush administration didn't promote the policies that caused the crash. Fannie and Freddie helped take down the economy, and they were doing what the government forced them to do: give out bad loans. How can you deny that forcing banks to give bad loans (the same subprime ones you hate so much) didn't cause the crash?
"That was classic, Derek."
Offshore drilling is safer than you'd think. On a side note, do you think Obama should have done more to stop the spill and protect our coastline? It took 40 days for him to head to the coast for a photo op.
"Krugman blames Bush for the same reason I do."
You are both staunch spineless Democrats?
Offshore drilling is safer than you'd think. On a side note, do you think Obama should have done more to stop the spill and protect our coastline? It took 40 days for him to head to the coast for a photo op."
Derek, it wasn't just the safety issue I was referring to when I said "That was classic".
You obviously don't get it.
There is so much reality that you don't acknowledge I consider it a bore and a waste of time to even attempt to explain things to you.
You seem heavy on theory and what you've read and heard, but actually real life experiences, not so much.
Why don't you get out of you dorm room, go out into the big world and make it without your parents support.
After you've got some real world experience under your belt playing the game without Mommy and Dadddy's support, maybe you'll have something to contribute that is based on the real world experience and not just a theory in your head.
Isn't there anybody at school you can have your abstract late night Ayn Rand debates with?
That would be Suuuweeet!
Yeah I know, this is a personal attack, yada, yada, libs, blah, blah, angry, yada, yada,
that's too fuckin' bad.
You're like an automaton, robotic, programmed, predictable and boring.