beastie wrote:Yes, I'm sure that Hurricane Sandy has chased it off the front page, but I thought more would be interested in it on this board.
I meant for some of us personally. Been busy preparing the past few days. Brackite,
I don't understand how this doesn't bother you. Romney's big promise is to fix the economy, and yet his main economic advisor was behind the Bush economic policy and endorsed policies that later were shown to have contributed seriously to the devastation of our economy.
And this doesn't trouble you?
Please share with us the specific Bush policies that have seriously contributed the the devestation of our economy.
Analytics wrote:Damning? yes. News? Not at all. Romney is a Wall Street guy who made his fortune in the world of modern finance. Of course he's going to turn to that same crowd for advice.
As is Obama. Wall street still rules in spite of Dodd/Frank.
beastie wrote:I'm surprised this hasn't gotten any attention. I think it's damning.
how exactly is it damning?
most people consider the foreign policy from Bush Jr to be a good strategy most people consider the economic policy from Bush Jr to be a good strategy
Bush Jr made the mistake of implementing them both simultaneously which most people consider to be a bad strategy.
so it was not the consultants it was the "decider".
Seek freedom and become captive of your desires...seek discipline and find your liberty I can tell if a person is judgmental just by looking at them what is chaos to the fly is normal to the spider - morticia addams If you're not upsetting idiots, you might be an idiot. - Ted Nugent
beastie wrote:Yes, I'm sure that Hurricane Sandy has chased it off the front page, but I thought more would be interested in it on this board.
I meant for some of us personally. Been busy preparing the past few days. Brackite,
I don't understand how this doesn't bother you. Romney's big promise is to fix the economy, and yet his main economic advisor was behind the Bush economic policy and endorsed policies that later were shown to have contributed seriously to the devastation of our economy.
And this doesn't trouble you?
Please share with us the specific Bush policies that have seriously contributed the the devestation of our economy.
See my earlier comments:
Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country? In particular, Hubbard's paper that I linked in the OP shows that he believed that the new derivative markets would lead to the "enhanced stability of the US banking system", which would lead to "more jobs and higher wages", "reduce the volatility of the economy" with muted recessionary impact, and that the housing bubble was a good thing.
(I didn't realize you lived in the path of Sandy. So do I, although on the exterior edge, and I'm hoping we don't have much impact. The extent of my preparation has been keeping the bathtubs full of water and jugs of water for drinking. Hope you make it through ok)
We hate to seem like we don’t trust every nut with a story, but there’s evidence we can point to, and dance while shouting taunting phrases.
beastie wrote:Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country? In particular, Hubbard's paper that I linked in the OP shows that he believed that the new derivative markets would lead to the "enhanced stability of the US banking system", which would lead to "more jobs and higher wages", "reduce the volatility of the economy" with muted recessionary impact, and that the housing bubble was a good thing.
Was Bush or Hubbard directly responible for the derivative market? Hubbard thought they were great tools and was clearly wrong. Does not mean he is wrong on every thing.
Any other Bush specific policies that devestated the economy?
beastie wrote:Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country? In particular, Hubbard's paper that I linked in the OP shows that he believed that the new derivative markets would lead to the "enhanced stability of the US banking system", which would lead to "more jobs and higher wages", "reduce the volatility of the economy" with muted recessionary impact, and that the housing bubble was a good thing.
Was Bush or Hubbard directly responible for the derivative market? Hubbard thought they were great tools and was clearly wrong. Does not mean he is wrong on every thing.
Any other Bush specific policies that devestated the economy?
Well, as a liberal I of course am opposed to the tax cuts that had the most impact on the very wealthy without much apparent benefit to the rest of us, but that is more debatable than the point I was trying to make. Yes, the derivative and housing bubble were significant contributors to the crash, and Hubbard supported them. That means he was wrong about the very thing that caused an economic meltdown. You seriously don't see this is a problem? That's hardly an insignificant miss.
We hate to seem like we don’t trust every nut with a story, but there’s evidence we can point to, and dance while shouting taunting phrases.
beastie wrote:Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country?
Yes. Both Geithner and Bernanke fully supported the governmental and financial systems that led to the financial crash of 2008. And their strategy for dealing with it has been to do everything they can to recreate the bubble, with little success.
cinepro wrote:Yes. Both Geithner and Bernanke fully supported the governmental and financial systems that led to the financial crash of 2008. And their strategy for dealing with it has been to do everything they can to recreate the bubble, with little success.
Seems like both parties had their hands in the decisions that brought about the financial meltdown. That's a depressing thought.
"It doesn't seem fair, does it Norm--that I should have so much knowledge when there are people in the world that have to go to bed stupid every night." -- Clifford C. Clavin, USPS
"¡No contaban con mi astucia!" -- El Chapulin Colorado
beastie wrote:Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country?
Yes. Both Geithner and Bernanke fully supported the governmental and financial systems that led to the financial crash of 2008. And their strategy for dealing with it has been to do everything they can to recreate the bubble, with little success.
Sadly, you are correct. I should have researched this more thoroughly first.
Mea Culpa.
We hate to seem like we don’t trust every nut with a story, but there’s evidence we can point to, and dance while shouting taunting phrases.
beastie wrote:Did one or some of Obama's economic advisors fully support the very policies that resulted in an economic crash for this country?
Yes. Both Geithner and Bernanke fully supported the governmental and financial systems that led to the financial crash of 2008. And their strategy for dealing with it has been to do everything they can to recreate the bubble, with little success.
I agree. What Hubbard said in 2004 was mainstream thinking at the time. Back then, the Masters of the Universe were considered to be benevolent demigods.
It’s relatively easy to agree that only Homo sapiens can speak about things that don’t really exist, and believe six impossible things before breakfast. You could never convince a monkey to give you a banana by promising him limitless bananas after death in monkey heaven.
