Today’s BMG whopper of the day? Bob calling our current economic morass, a “Republican Recession”.
Observing the Republican Recession (6.00 / 1)
Cutting like a scythe through our economy, and further observing Republicans at the national level and in the state of California refusing to support potentially constructive solutions, it is hard to argue that additional Republican office holders, in Massachusetts or anywhere else, is the way to get much of anything working — except, perhaps, torture, the war in Iraq, and an assault on science and reason.
This comment hits every single Kossack talking point in a tightly packaged paragraph. It’s like the other Kossack point, “Bush Lied, People Died”, when Bush didn’t lie, he went to war using the same intelligence every major power thought was right, because Saddam was posturing like he still had the WMD, but I digress.
This is not a Republican Recession, it is not even a Democrat Recession, it is a Big Government Washington Recession. It is a recession brought about by the collapse in the sub-prime mortgage market, that was created by policy in Washington DC. It was created by the false notion that “everybody should own a home”. Well everybody shouldn’t own a home if you have to relax mortgage standards to the point where people aren’t even paying principal with their mortgages. The mortgage policies enacted in the mid 1990s by the Clinton Administration and continued in the 2000s by the Bush Administration whereby Fannie and Freddie were forced to by bad debt is what started the free money train.
When there is more money available for housing prices are inevitably going to go up, because the “payments” are going to stay low. Well the payments were low because people weren’t paying down the principal on their houses. That’s what caused this recession, the overinflated housing market.
Not too reality based there Bob, now are you?