America’s future could be our future. Fortunately Labor will get well and truly told at an election later this year. Australians are not as gullible it seems as many Americans of the likes who voted for their economic demise. The BS detector is very strong in this country. Record Low: Only 1-in-4 Think Economy Better in 2014
In late January, 36% of Americans felt that the economy would be better in January of 2014, but the latest poll, conducted March 1-2, showed only 25% of Americans felt the economy would be stronger 12 months later.
‘Dive, dive, dive’ comes to mind. Diving ever since Democrats took charge in 2006 and enabled the Housing Bubble continue until it burst. Australia often has mirrored economic results that can happen one or two years later than the US. State of the budget
There is a forecast of the budget deficit in The Australian calculated by the Canberra consultancy Macroeconomics on behalf of the Minerals Council.
The MCA used the figures to back its calls for the government to focus on reducing poor-quality spending.
Let’s hope a change can reverse this course. The deep deep incompetence of the American Federal Reserve
The Democrats didn’t take over congress until January 20, 2007. The housing bubble inflated totally on the GOPs watch (2001-2006).
P.S. Stop reading Breitbart. Those guys are right-wing lunatics.
And you? A left wing lunatic? Name-callers are bullies. The Bush government tried to stop the Fannie and Freddie impending disaster many times. Who was in charge? Dodd, Frank, etc. Show us where they are wrong instead of name calling.
http://catallaxyfiles.com/2013/03/05/the-deep-deep-incompetence-of-the-american-federal-reserve/
http://scepticalmarketobserver.blogspot.com.au/2010/01/what-caused-us-housing-bubble.html and this link was posted two and a half years into Obama’s ‘reign’ http://pindanpost.com/2011/08/17/5824/ and
here too: http://pindanpost.com/2011/08/08/financial-apocalypse-nearer/
Today: http://dailycaller.com/2013/03/04/what-scares-me-about-the-sequester-debate/
The Bush government did not try to stop the bubble. Greenspan was singing the praises of subprime in 2004. And remember Bush’s “ownership society”? Here is a quote from March 2004:
“We want more people owning their own home in America,” Bush said. His goal is to have 5.5 million minority homeowners in the country by the end of the decade.
http://www.foxnews.com/story/0,2933,115279,00.html#ixzz2MjIHbU9C
As you are clearly suffering Bush Derangement Syndrome, you could do worse than reading this fisking of the NYT. http://newsbusters.org/blogs/noel-sheppard/2008/12/21/new-york-times-blames-housing-financial-crisis-bush but be warned, it’s long and informative. How are things traveling now? http://pjmedia.com/tatler/2013/03/01/us-household-income-drops-most-in-20-years-and-it-had-nothing-to-do-with-the-sequester/
Not much hope for the US future either: http://nalert.blogspot.com.au/2013/03/harvard-students-financially-illiterate.html
You claim that Bush tried to stop the bubble. I give you proof that he didn’t. You claim I’m suffering from Bush Derangement Syndrome? Well done!
It doesn’t look like you read that post at Newsbusters.
A short excerpt:
Read more: http://newsbusters.org/blogs/noel-sheppard/2008/12/21/new-york-times-blames-housing-financial-crisis-bush#ixzz2MjQPwOgg
I’m not sure what that newsbusters article has to do with my comment. I never claimed the Democrats were blameless. To have a housing bubble that big, it took Democrats, Republicans, Wall Street, flippers, realtors, developers, ratings agencies and more.
Considering the bubble inflated between 2001-2006 when congress, the president, the supreme court and the fed chairman were all republicans, it’s pretty remarkable that anyone could think it was all the democrats fault.