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Trump's economic advisor is the same idiot who caused the 2008 crisis

 
Anonymous Coward
User ID: 78079960
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10/26/2019 01:54 AM
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Trump's economic advisor is the same idiot who caused the 2008 crisis
[link to en.wikipedia.org (secure)]

Kudlow was a strong advocate of George W. Bush's substantial tax cuts, and argued that the tax cuts would lead to an economic boom of equal magnitude.[45] After the implementation of the Bush tax cuts, Kudlow insisted year after year that the economy was in the middle of a "Bush boom", and chastised other commentators for failing to realize it.[45] Kudlow firmly denied that the United States would enter a recession in 2007, or that it was in the midst of a recession in early to mid-2008. In December 2007, he wrote: "The recession debate is over. It's not gonna happen. Time to move on. At a bare minimum, we are looking at Goldilocks 2.0. (And that's a minimum). The Bush boom is alive and well. It's finishing up its sixth splendid year with many more years to come".[46] In a May 2008 column entitled "'R' is for 'Right'", Kudlow wrote: "President George W. Bush may turn out to be the top economic forecaster in the country".[47] By July 2008, Kudlow continued to deny that the economy was looking poor, insisting that "We are in a mental recession, not an actual recession".[45][48] Lehman Brothers collapsed in September 2008, creating a full-blown international banking crisis.[45]
Tyrone Slothrop

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10/26/2019 01:56 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
Any president I know anything about was an economic illiterate.
I've gotten a lot of red for telling the truth and being right. Just sayin'
Anonymous Coward
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10/26/2019 02:29 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
The recession was caused by the banking crisis not tax revenue.
Anonymous Coward
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10/26/2019 02:39 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
Seriously the banks stopped lending money causing the economy to shrink so prices would crash and they could buy up everything for cheap.

It was done on purpose and it doesnt matter who is president.

When the time comes, and it will, the rug will be pulled.
Anonymous Coward
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06/17/2020 06:19 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
lol
Anonymous Coward
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06/17/2020 06:22 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
Wrong, it was the fucking bankers again and again and again. Look back in history, all the big dumps were banker/financial institutions caused.
Anonymous Coward
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06/17/2020 06:38 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
50% off homes when?

where are the deals?
Anonymous Coward
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06/17/2020 06:52 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
He has experience
Anonymous Coward
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06/17/2020 06:56 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
Phil fucking Gramm and Alan Greedscam were way,way more responsible for the 2007-2009 crisis than snowman Kudlow who was merely a paid clown on cnbs at the time.
Anonymous Coward
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06/17/2020 07:31 AM
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Re: Trump's economic advisor is the same idiot who caused the 2008 crisis
[link to en.wikipedia.org (secure)]

Kudlow was a strong advocate of George W. Bush's substantial tax cuts, and argued that the tax cuts would lead to an economic boom of equal magnitude.[45] After the implementation of the Bush tax cuts, Kudlow insisted year after year that the economy was in the middle of a "Bush boom", and chastised other commentators for failing to realize it.[45] Kudlow firmly denied that the United States would enter a recession in 2007, or that it was in the midst of a recession in early to mid-2008. In December 2007, he wrote: "The recession debate is over. It's not gonna happen. Time to move on. At a bare minimum, we are looking at Goldilocks 2.0. (And that's a minimum). The Bush boom is alive and well. It's finishing up its sixth splendid year with many more years to come".[46] In a May 2008 column entitled "'R' is for 'Right'", Kudlow wrote: "President George W. Bush may turn out to be the top economic forecaster in the country".[47] By July 2008, Kudlow continued to deny that the economy was looking poor, insisting that "We are in a mental recession, not an actual recession".[45][48] Lehman Brothers collapsed in September 2008, creating a full-blown international banking crisis.[45]
 Quoting: Anonymous Coward 78079960


bull shit the 2008 crisis was caused by mortgage companies bundling up bad loans to sell as investments, to cover for the crappy underwriting and risk, they secured the best insurance they could. This was basically a house of cards that looked great on paper but once the risk was realized AT SCALE, the insurance companies couldn't cover it all, went bankrupt and the entire mess came tumbling down.

Lower taxes = freedom to spend your hard earned money as YOU SEE FIT, not the king.





GLP