“Ignorance of basic economics, and the concurrent attempt to obfuscate that ignorance by employing class-conscious demagoguery, remains the staple of the Democratic Party” unknown
Liberals will not let truth impede their quest for power. They pray for an electorate so dumbed-down by liberal academia and media that it will be incapable of recognizing facts or the slowing economy occurred with the change to the democrat majority in 2006.
For instance, on the April 9th and April 20th segments of Fox News Sunday, Senators Durbin and Schumer intentionally lied about the economy. Durbin claimed Pres. Bush’s policy brought us an economic recession and Schumer claimed the economy is in recession. Both claims are lies. The standard definition of a recession is two consecutive quarters of contraction. This has not occurred. While segments of the economy are doing poorly the current GDP is greater than the average GDP during 8 yrs of Clinton.
Liberals use the 9.9% first quarter decline of one segment of the economy, the S&P 500, as proof of recession. But fail to compare it to larger one quarter declines. Like a decline of 39.4% in 2nd quarter of 1932 (FDR), 23.2% in 4th quarter of 1987 (Reagan), 14.5% in 3rd quarter 1990 (Bush 41) and 10.3% in 3rd quarter 1998 (Clinton).
Hillary romanticizes of a return to the wonderful days of the Clinton economy during the 1990’s and Obama promises to “fix” the economy with the same old socialistic policies. This from elitist who have never ran a business. Do Americans really want to repeat Marxist economies of years past?
FDR’s policies resulted in excessive increases in government programs, taxes raised to 90%, an unemployment rate of 17.2%, a decline in the Dow Jones average to the low 100’s until the 1950’s, a 13% decrease in national income, a 35% decline in payrolls, a 50% drop in production of durable goods and profits decreased 78%. LBJ gave us the budgetary black hole of Medicare, Medicaid and scores of other social programs that consumed $1.3 trillion last year alone. Carter’s policies resulted in 7.5% unemployment, 12% inflation, 16% mortgage interest rates, 20% interest rates, increased taxes, gas shortages and gas lines and the creation of a new category of economic measurement, the misery index. Under Clinton the GDP averaged a mediocre 2% growth, the housing market declined in the mid 1990’s, more bankruptcies were filed in 8 yrs under Clinton than all previous years combined, after 1998 business failures increased and nearly every segment of the economy suffered losses with the major dot.com bust in 2000. Is this the paradise Hillary romanticizes?
Another example is the so-called “mortgage crisis”, which is another false claim. The fact is that this “crisis” is occurring primarily in the sub-prime mortgage market, which traces to Carter’s lending regulation forced on bankers by the Community Reinvestment Act (1977). A very small minority are actually in foreclosure. Mortgage Bankers Assoc.”s 2007 4th quarter survey reported that foreclosures were only 2.04% of all mortgages. Yet liberals wail about “foreclosure filings, default notices, auction sale notices and bank repossessions rising 5%.” What they fail to mention is that 5% is only 5% of the 2% in foreclosure. According to the report many of those facing foreclosure were speculators hoping to “flip” the home for a profit.
The dirty little secrets liberals hope to conceal are 98% of homeowners are not in default. That while homes in major metropolitan areas lost 10.7% of their value in the last year, most homeowners will remain well ahead after the market corrections. Or since 2000 the average housing prices rose 93%; Miami rose 180%, Los Angeles rose 175%, and Washington, D.C rose 150%. That home ownership only declined .3 of 1% since 2004 and homeowners make up 67.8% of the population, which is higher than it was when Clinton left office.
Clinton, Obama and even “liberalesque” McCain think that “taxpayers” that pay their mortgages should bail out homeowners who can”t. The liberal answer for everything, take from those who earn and give to those who don’t. Pretend it is not Marxism and call it just “taxing the rich” so the ignorant, the greedy and the envious will vote for liberal politicians.
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