The 1920's crash was worse than the 1929 crash. The 1929 crash didn't recover because the president endorsed heavy government spending policies that simply don't work.

This post was edited by EndlessSky on Jan 1 2020 03:05pm

Incorrect.

FDR strangled the Great Depression withnone hand, and socked Hitler with the other. People like you wanted to stay neutral and make money off the reich

I love the Red River Gorge and all the campgrounds built as a result of the New Deal.

This post was edited by Skinned on Jan 1 2020 03:11pm

Wait a second, wasnt the criticism against Coolidge and Hoover precisely that they stuck with failed laissez-faire policies instead of fighting the recession with increased government spending (e.g. FDR's New Deal)?

The depression lasted more than ten years under FDR's egotistical grip.

And Eisenhower won the war, not FDR.



Hoover was Republican in name but he was a massive big-guv guy policy wise.

What the left decides to shout out in the media as propaganda is another matter entirely.

This post was edited by EndlessSky on Jan 1 2020 06:04pm

completely false.. was 1. the war 2. the government spending the New Deal.
that recovered the economy.. They balanced the budget multiple times.. it did nothing.

such a stupid cherry picker.
Ignore the long term trend of improved economy.
Blame the past by just looking at short term issues. Sorry statement stills stands.. you want to look at the facts from whatever head tilt benefits you. boring.

I dont ignore the long term trend of improved economy. I am the one who's taking a close look at the details to get a solid idea on what was going on, while you are the one who introduced murky, unconvincing takes like "Obama had higher average growth rates than Trump and therefore was better on the economy (let's not mention that he was coming out of a recession where high growth rates are easy and expected)", and "economic sins of the past happened to materialize slightly more often during Republican presidents' terms over the last 30 years, therefore, Democrats are better at handling the economy".


GWB was a shitty president through and through, I hate the guy and think he was the worst president of the last 70+ years, but he was not the main driver behind the great recession.
Image how different the world and the political landscape in America would look like today if the great recession had begun a year later: the first black president is elected on a platform of hope and change, and the worst recession in over half a century triggers immediately upon his election or inauguration...

A couple of months on the timing of a recession which was built up over 20+ years make the difference between liberals being able to claim that Dems are better on the economy than Reps, and Reps forever being able to blame Obama and liberal policies for this recession. The reality is that presidents' influence on the economy is generally overestimated, and aside from some short-term effects (markets expecting more deregulation out of a Republican president etc.), their impact on the economy (if there is one at all) is typically felt after many years, often times long after they have left office.

This post was edited by Black XistenZ on Jan 1 2020 11:54pm

So only in your mind Trump in the short term is responsible.. magic!
But it was long term and not Bush that was responsible. But somehow just unlucky circumstance every time its R pres.
Its really all the wall of text is saying

This post was edited by theCrossbones on Jan 2 2020 12:02am

I never claimed that "only" Trump is responsible for the current boom. He did some short term things to help the economy (boost the investment climate with pro-business policies in general; deregulation; tax cuts), but those are only responsible for the increased slope of the growth curve, not for the fundamental upward trend. Neither Trump nor Obama are responsible for this fundamental trend - the cycle of the world economy, cheap oil due to fracking as well as massive deficit spending are the main reasons.



I'm not against the idea of Obama deserving some of the praise for the current, strong economy. What I am against is the idea that there is an automatism in any of this, something along the lines of "every president owes the economy during his term to his predecessor".

If you want to argue that Obama deserves credit for the current boom, you need to point out concrete policies of his which did that. I, for my part, dont see any.
So, which economic policies of Obama can you come up with that had any long-lasting positive effect on the economy?

Bush didn’t cause the 2008 mortgage crisis. The root cause was a result of Clinton administration policy to get more Americans owning homes. Essentially The government incentivized risky lending practices by expecting banks to hit mortgage quotas.

https://www.wsj.com/amp/articles/the-clintonera-roots-of-the-financial-crisis-1376348141

Read this for a good history lesson.

This post was edited by ofthevoid on Jan 2 2020 12:20am