Trump's economic advisor is the same idiot who caused the 2008 crisis | |
Tyrone Slothrop
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Anonymous Coward User ID: 77843939 United States 10/26/2019 02:39 AM Report Abusive Post Report Copyright Violation | It was done on purpose and it doesnt matter who is president. When the time comes, and it will, the rug will be pulled. |
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Anonymous Coward User ID: 76946058 United States 06/17/2020 07:31 AM Report Abusive Post Report Copyright Violation | [link to en.wikipedia.org (secure)] Quoting: Anonymous Coward 78079960 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] 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. |