The Great Recession of 2008

[Bookwormy]

In 2008 the US entered a Great Recession, while Bush was still president. Some moms on this list blame Obama for making it much worse. Some think that Obama has done the best that anyone could have to save the US from another Great Depression. Some moms, like me, feel that although other Democrats would have been better for the economy, Obama was better than any Republican, who likely would have pushed us into another Great Depression, & no one could have done a lot with the mess Bush left. Maybe Clinton could have done better, but no one was going to perform miracles in a mere 4 years.

So, I'm curious. For those of you that feel that McCain or a third party candidate would have done a better job saving the US from the Great Recession that Bush led the US into, what would they have done differently & better? What was their economic platforms to save the US in 2008 & beyond?

I honestly can't remember their economic platforms any longer. I'm pretty confident that most of the voting citizenry didn't trust them after the destruction of the US economy by Bush. & I'm pretty confident that 4 years later people were hoping for quicker solutions that any president could provide.

[Donna6503]

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

[Bookwormy]

Seriously, not one conservative can remind me what McCain or a 3rd party candidate's economic platform was that was going to save us from Bush's Great Recession? I must have posted this thread so late in the evening. I'll refresh it here...

[_Kissy_]

More war, more profits.

[Bookwormy]

Would a 2008 McCain or 3rd party fan like to reply or must I assume that O really won because he was the only candidate who planned to do anything different than Bush?

Come on, I respond to your stuff. I'm not trying to bait you, I promise. I honestly can't remember. I remember not trusting them, but I don't remember their economic platforms. What were they? Seriously, can you just remind me? If no one does, I will be forced to assume that they really were going to do whatever Bush was doing that went bust. But McCain is brighter than Bush, & most conservatives. So he must have had something going on upstairs, right?

[momof31995]

Quoting Donna6503:

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

And I do believe it was a Republican that pulled us out of that and in a mere 4 years so why is everyone saying no one can do it but yet one republican did do it.

[Donna6503]

Not really; it was a bipartisan solution. The Monetary policies of checking inflation by increasing bond holdings and raising the value of a dollar; was a solution offered by both Keynesian and Supply-siders economists from both party. With Regan, the Secretary of Teasury at the time (later chief of staff for Reagan) and Baker, the chief of staff spending more time and meetings with the opposition party. Both also made note of this fact in their books about the Reagan Administration. Stockman, Reagan's Budget director is a Democrat. There are other reasons too; but, the point being it was more than Reagan that got us out of that recession. In fact, I could point to Reagan on things he done that directly slowed the economic growth of the country. Not to go into major details just realize that the next two major economic growth periods of the after the Reagan left offices were longer and and provided much better economic and capital growth.

Quoting momof31995:

Quoting Donna6503:

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

And I do believe it was a Republican that pulled us out of that and in a mere 4 years so why is everyone saying no one can do it but yet one republican did do it.

[radioheid]

 I voted 3rd party in 2008 because I was disillusioned with the 2-party system and where it had led us (two wars and a terrible recession). I wasn't ecstatic about voting for Bob Barr (Libertarian candidate in '08), but Obama seemed like an empty suit, and I couldn't get on board with McCain when he had fucking Sarah Palin as a running mate. Honestly, had Clinton won the Democratic primary, I would have voted for her in hope of getting 4 more years of Bill's influence.

And yes, the idea that John McCain might have died leaving the Presidency to Palin really was my motivation for avoiding the GOP like a flesh-eating plague. VPs *really are* an important consideration.

I don't like partisan politics. George Washington had it right in his 1796 farewell address.

[shannonnigans]

Were you by chance alluding to "trickle-down" by chance, among other things?!

This is a super well-thought out response that will probably get little or no response since it will sail right over the heads of 99% of the people here. You might even be derided for being "book-learned". Thank you for posting it. My faith in academia is somewhat restored.

Quoting Donna6503:

Not really; it was a bipartisan solution. The Monetary policies of checking inflation by increasing bond holdings and raising the value of a dollar; was a solution offered by both Keynesian and Supply-siders economists from both party. With Regan, the Secretary of Teasury at the time (later chief of staff for Reagan) and Baker, the chief of staff spending more time and meetings with the opposition party. Both also made note of this fact in their books about the Reagan Administration. Stockman, Reagan's Budget director is a Democrat. There are other reasons too; but, the point being it was more than Reagan that got us out of that recession. In fact, I could point to Reagan on things he done that directly slowed the economic growth of the country. Not to go into major details just realize that the next two major economic growth periods of the after the Reagan left offices were longer and and provided much better economic and capital growth.

Quoting momof31995:

Quoting Donna6503:

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

And I do believe it was a Republican that pulled us out of that and in a mere 4 years so why is everyone saying no one can do it but yet one republican did do it.

[Sisteract]

Am a crazy, but doesn't the presence of a global economy ( and the resulting depletion of US labor sectors, particularly manufacturing) also change the dynamics completely between what Reagan had to work with vs Obama?

How the world operates and does business has changed significantly- smaller world, more players, stiffer competition, better educational systems for some, worse for others, technology.....

Quoting shannonnigans:

Were you by chance alluding to "trickle-down" by chance, among other things?!

This is a super well-thought out response that will probably get little or no response since it will sail right over the heads of 99% of the people here. You might even be derided for being "book-learned". Thank you for posting it. My faith in academia is somewhat restored.

Quoting Donna6503:

Not really; it was a bipartisan solution. The Monetary policies of checking inflation by increasing bond holdings and raising the value of a dollar; was a solution offered by both Keynesian and Supply-siders economists from both party. With Regan, the Secretary of Teasury at the time (later chief of staff for Reagan) and Baker, the chief of staff spending more time and meetings with the opposition party. Both also made note of this fact in their books about the Reagan Administration. Stockman, Reagan's Budget director is a Democrat. There are other reasons too; but, the point being it was more than Reagan that got us out of that recession. In fact, I could point to Reagan on things he done that directly slowed the economic growth of the country. Not to go into major details just realize that the next two major economic growth periods of the after the Reagan left offices were longer and and provided much better economic and capital growth.

Quoting momof31995:

Quoting Donna6503:

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

And I do believe it was a Republican that pulled us out of that and in a mere 4 years so why is everyone saying no one can do it but yet one republican did do it.

[Donna6503]

Yes and no, there were a lot of things that were familiar with both economies at the time; but, the big differences was that the M4 money supply of the global economy was stagnated and that was a tool that allowed Volcker (and to a major extent by IMF) to help stimulate economic activities.

Right now, the M4 money supply line is over stimulated., it is growing and out pacing all or any nations economic growth. Again not to get into great detail (in fact it is very much an over simplication) Obama's economic team is actually preparing the economy for the monetary crisis that going to take place., while, Romney solution of tax reform is going to help the capital shortfalls with both immediate and long term debt fluctuation as compared with the global economy.

Quoting Sisteract:

Am a crazy, but doesn't the presence of a global economy ( and the resulting depletion of US labor sectors, particularly manufacturing) also change the dynamics completely between what Reagan had to work with vs Obama?

How the world operates and does business has changed significantly- smaller world, more players, stiffer competition, better educational systems for some, worse for others, technology.....

Quoting shannonnigans:

Were you by chance alluding to "trickle-down" by chance, among other things?!



This is a super well-thought out response that will probably get little or no response since it will sail right over the heads of 99% of the people here. You might even be derided for being "book-learned". Thank you for posting it. My faith in academia is somewhat restored.

Quoting Donna6503:

Not really; it was a bipartisan solution. The Monetary policies of checking inflation by increasing bond holdings and raising the value of a dollar; was a solution offered by both Keynesian and Supply-siders economists from both party. With Regan, the Secretary of Teasury at the time (later chief of staff for Reagan) and Baker, the chief of staff spending more time and meetings with the opposition party. Both also made note of this fact in their books about the Reagan Administration. Stockman, Reagan's Budget director is a Democrat. There are other reasons too; but, the point being it was more than Reagan that got us out of that recession. In fact, I could point to Reagan on things he done that directly slowed the economic growth of the country. Not to go into major details just realize that the next two major economic growth periods of the after the Reagan left offices were longer and and provided much better economic and capital growth.

Quoting momof31995:

Quoting Donna6503:

I voted for Obama; I'll still vote for Obama, but the economy was in far worst shape in '78 thru '82 than it is now.

And I do believe it was a Republican that pulled us out of that and in a mere 4 years so why is everyone saying no one can do it but yet one republican did do it.