| | | You are flat out wrong in blaming the Republicans. You forget your history. First, Y2K happened and that popped the stock bubble created by the Fed. Then close on its heels, 9/11/01 happened, which sent our economy reeling, which the Fed followed by blowing the housing bubble. Then the housing bubble popped, as all bubbles do, which created the financial crisis. Then the Fed responded by massive money printing and low interest rates for a very long time, which created the everything bubble, which was a ginormous bubble in search of a pin. COVID was that pin. Now, we are in the aftermath. Did the Fed do anything different? Nope. Every problem looks like a nail in need of a sledgehammer. So the Fed has now stated that they will do unlimited QE/money printing and ZIRP for the foreseeable future.
Notice, that not one of those economic boom and bust cycles had anything to do with any President. The fact is we like to give our Presidents too much credit and too much blame, when the puppet master is the Fed. Presidents can harm the economy by becoming big business enemies. Or they can help the economy by being a friend to all businesses and putting the interests of the US ahead of other countries. But at the end of the day, the Fed is the largest single root cause of the massive movements in the stock markets, monetary policy, and the big impacts to the economy.
The only exception to this rule is what we are seeing now. All of our leaders, both Democrats and Republicans have decided that we're going to address COVID by shutting down local, state, and federal economies. This economic shut down is a self-imposed economic death. Can we blame this on Trump? No. He really has no choice. Neither do any of the Governors out there doing what they can to help their constituents. COVID is what it is. It's force majeure.
If you don't understand that, then we can't really have an unbiased and sane conversation. |
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