bluehdmc
Well-Known Member
Pobre Carlos,
The economy floundered in the previous administration, (the worst recession since the Great Depression). At least people are not selling apples on the street for $.05. Fannie and Freddie were created years before the Obama administration. The questionable lending practices, were all put in place well long before the crash. The crash didn't come overnite and the recovery won't happen overnite either. As far as people owing more than their house is worth, that's happened before. I remember in the mid 80's people were walking away from homes in the Houston area because there was a downturn in the oil industry and the market tanked. In my area (north NJ) people who bought condo's in the late 80's early 90's saw the prices go down and it took until around 2000 before they recovered. They've since gone up and back down again, although it's not really a loss unless your forced to sell.
Time Magazine had a list of "Who was to blame for the Economic crisis", I don't recall Barack Obama as being on the list, Realtors, Countrywide Finance, Lehman Brothers, Ronald Reagan, (who first started deregulating the banks), Bill Clinton, (for more deregulation), George W Bush (in there words, "It happened on his watch.") and others were on it though.
As far as the auto industry, their troubles started back in the 60's. (Remember the Corvair?)
Safety innovations like seatbelts, sidemarker lites, energy absorbing components became mandatory in 1968. Before that American automakers built and sold whatever they wanted. For a cost savings of about $5, Ford designed a Pinto that would explode when struck in the rear.
There used to be a saying, "What's good for GM is good for the US."
GM had an income larger than the GDP of France. Mismanagement, short sightedness and lousy customer service, and the gas shortage of the 70's gave imports the toehold they needed. The imports were in general quality cars that got 20+ mpg when you could only get gas on odd and even days and most domestic brands were getting 10-12mpg.
The import makers that have plants here may be non-union, but there home country plants are all unionized. Hundyai is actually one of the largest manufacturers in the world and there unionized in South Korea.
As far as appointments Obama pulled a fast one, maybe because the "Party of NO" was blocking everything he has tried to do.
The "Party of NO" tried to block everything the Clinton administration did, spent almost 8 yrs and how many millions of dollars over Whitewater and turned that into a discussion of a blue dress. (Information obtained from an illegally recorded phone conversation.)
The economy floundered in the previous administration, (the worst recession since the Great Depression). At least people are not selling apples on the street for $.05. Fannie and Freddie were created years before the Obama administration. The questionable lending practices, were all put in place well long before the crash. The crash didn't come overnite and the recovery won't happen overnite either. As far as people owing more than their house is worth, that's happened before. I remember in the mid 80's people were walking away from homes in the Houston area because there was a downturn in the oil industry and the market tanked. In my area (north NJ) people who bought condo's in the late 80's early 90's saw the prices go down and it took until around 2000 before they recovered. They've since gone up and back down again, although it's not really a loss unless your forced to sell.
Time Magazine had a list of "Who was to blame for the Economic crisis", I don't recall Barack Obama as being on the list, Realtors, Countrywide Finance, Lehman Brothers, Ronald Reagan, (who first started deregulating the banks), Bill Clinton, (for more deregulation), George W Bush (in there words, "It happened on his watch.") and others were on it though.
As far as the auto industry, their troubles started back in the 60's. (Remember the Corvair?)
Safety innovations like seatbelts, sidemarker lites, energy absorbing components became mandatory in 1968. Before that American automakers built and sold whatever they wanted. For a cost savings of about $5, Ford designed a Pinto that would explode when struck in the rear.
There used to be a saying, "What's good for GM is good for the US."
GM had an income larger than the GDP of France. Mismanagement, short sightedness and lousy customer service, and the gas shortage of the 70's gave imports the toehold they needed. The imports were in general quality cars that got 20+ mpg when you could only get gas on odd and even days and most domestic brands were getting 10-12mpg.
The import makers that have plants here may be non-union, but there home country plants are all unionized. Hundyai is actually one of the largest manufacturers in the world and there unionized in South Korea.
As far as appointments Obama pulled a fast one, maybe because the "Party of NO" was blocking everything he has tried to do.
The "Party of NO" tried to block everything the Clinton administration did, spent almost 8 yrs and how many millions of dollars over Whitewater and turned that into a discussion of a blue dress. (Information obtained from an illegally recorded phone conversation.)
