So what is up with giant bloviating bag of gas Rush Limbaugh lately? Oh, just some painfully easy-to-mock made-up economic history wherein Clinton did bad things, Bamz caused bad things to happen BACKWARDS IN TIME just by being black, and George W. Bush was a white knight that tried to fix it all with regulators, who are apparently cool under Republican regimes but not under Democratic ones. You know, same old.
you know i've been feeling a little like i did last fall: hearing 'fair and balanced' coverage ('neither side is budging', 'both sides are polling evenly', etc.) from my usual relatively even handed sources (e.g., npr) and wondering what planet i'd wondered onto. and then BAM! these polls.
sometimes even the american people - god love 'em - figure it out.
Your last paragraph captures the situation, whether or not Krugman said it. The so-called &quot;Bush Recovery&quot; was entirely fueled by the Fed keeping interest rates low to encourage cash-out refinancing, which allowed consumer spending to remain high, even though consumer <i>incomes</i> never &quot;recovered&quot;.
Limbaugh encouraged his listeners to &ldquo;[g]o back and look at the monthly unemployment numbers.&rdquo;
Hahaha. The LimpBlob is just being funny there. He knows that precisely zero of his listeners is going to look at numbers, what with their liberal bias and everything.
Don&#039;t know if it&#039;s true (you&#039;re &quot;encouraged to go back and look at the numbers&rdquo;), but the total amount lost by the poor and middle class as a result of the Bush economic cluster-fuck (lost home equity, foreclosures, lost income, plundered retirement accounts, etc. etc.) is allegedly $14 trillion.
The amount of wealth added to the assets of the plutocracy: $14 trillion.
someone should ask shitferbrains about the American Dream Downpayment Assistance Act of 2003, pushed by W, passed by a GOP congress. It was the equivalent of busting the top off a fire hydrant to the credit market and is one of the biggest reasons for the housing bubble- guess that one went down the memory hole also too. Not to mention that 3/4 of the sub prime loans made originated from hedge funds and other financial entities not subject to the CRA, so all that &quot;libruls made teh bankers give money to irresponsible poorz&quot; bullshit is in fact bullshit (also too over half the mortgage defaults were for million dollar plus homes that self proclaimed real estate geniuses got burned on before they could flip them, not a lot of inner city poorz buying million + houses). Of course the whole Fannie/Freddie BS is BS- they were certainly not good guys, but they were late to the game and spent most of 2005-2006 playing catch up to the wallstreet crooks. And no Rush you don&#039;t get to blame Barney Frank and Chuck Schumer- the vast majority of the damage was done from 2004-2006 when those guys were part of the minority party in congress. Blaming the Dems for the recession of 2007 because they took over the committee chairs in 2007 is typical wingnut idiocy.
Not long ago I made a graphic to illustrate some of the bigger flaws in Republican mythology regarding the recession, but I am hesitant to use it to refute Limbaugh because his grasp of logic is even less linear and coherent than his party&#039;s conventional wisdom. <a href="http:\/\/i1115.photobucket.com\/albums\/k551\/denniverse\/recession1_zpsa7c15206.jpg" target="_blank">Here it is anyways.</a>
completely OT but does anyone know why repubs offered a plan today? and why bamz doesn&#039;t give a flying fuck?
i would say b/c they think they are losing, but i find that level of self awareness unconvincing..
you know i&#039;ve been feeling a little like i did last fall: hearing &#039;fair and balanced&#039; coverage (&#039;neither side is budging&#039;, &#039;both sides are polling evenly&#039;, etc.) from my usual relatively even handed sources (e.g., npr) and wondering what planet i&#039;d wondered onto. and then BAM! these polls.
sometimes even the american people - god love &#039;em - figure it out.
Your last paragraph captures the situation, whether or not Krugman said it. The so-called &quot;Bush Recovery&quot; was entirely fueled by the Fed keeping interest rates low to encourage cash-out refinancing, which allowed consumer spending to remain high, even though consumer <i>incomes</i> never &quot;recovered&quot;.
Logic Bomb!
please. Oetzi the Iceman plays baroque music on a harpsichord, elevates his little pinky and clutches his pearls when he thinks of teabaggers
this.
gross.
Limbaugh encouraged his listeners to &ldquo;[g]o back and look at the monthly unemployment numbers.&rdquo;
Hahaha. The LimpBlob is just being funny there. He knows that precisely zero of his listeners is going to look at numbers, what with their liberal bias and everything.
Don&#039;t know if it&#039;s true (you&#039;re &quot;encouraged to go back and look at the numbers&rdquo;), but the total amount lost by the poor and middle class as a result of the Bush economic cluster-fuck (lost home equity, foreclosures, lost income, plundered retirement accounts, etc. etc.) is allegedly $14 trillion.
The amount of wealth added to the assets of the plutocracy: $14 trillion.
Just a co-incidence, no doubt.
PLEASE - put quotes around the word &quot;scientists&quot; when talking about those whores.
Peter Davison!!!!
The map is not to scale, sorry.
someone should ask shitferbrains about the American Dream Downpayment Assistance Act of 2003, pushed by W, passed by a GOP congress. It was the equivalent of busting the top off a fire hydrant to the credit market and is one of the biggest reasons for the housing bubble- guess that one went down the memory hole also too. Not to mention that 3/4 of the sub prime loans made originated from hedge funds and other financial entities not subject to the CRA, so all that &quot;libruls made teh bankers give money to irresponsible poorz&quot; bullshit is in fact bullshit (also too over half the mortgage defaults were for million dollar plus homes that self proclaimed real estate geniuses got burned on before they could flip them, not a lot of inner city poorz buying million + houses). Of course the whole Fannie/Freddie BS is BS- they were certainly not good guys, but they were late to the game and spent most of 2005-2006 playing catch up to the wallstreet crooks. And no Rush you don&#039;t get to blame Barney Frank and Chuck Schumer- the vast majority of the damage was done from 2004-2006 when those guys were part of the minority party in congress. Blaming the Dems for the recession of 2007 because they took over the committee chairs in 2007 is typical wingnut idiocy.
Not long ago I made a graphic to illustrate some of the bigger flaws in Republican mythology regarding the recession, but I am hesitant to use it to refute Limbaugh because his grasp of logic is even less linear and coherent than his party&#039;s conventional wisdom. <a href="http:\/\/i1115.photobucket.com\/albums\/k551\/denniverse\/recession1_zpsa7c15206.jpg" target="_blank">Here it is anyways.</a>
they deserve their share of blame, both for the accounting scandals of the early 2000&#039;s and their role in helping grease the wheels on the money train of the mid 2000&#039;s. But the notion that they were the prime cause is garbage and is the work of Wall Street apologists who want to shift all blame away from those crooks and their risky bets and exotic financial instruments <a href="http://www.nybooks.com/blog..." target="_blank">" rel="nofollow noopener" title="http://www.nybooks.com/blogs/nyrblog/2011/jul/13/...">http://www.nybooks.com/blog... <a href="http://krugman.blogs.nytime..." target="_blank">" rel="nofollow noopener" title="http://krugman.blogs.nytimes.com/2011/07/14/fanni...">http://krugman.blogs.nytime...
eggzactly- more blame teh poorz BS with a side order of racism