The Fed has more influence on the economy than any president. The prime factor in the current expansion and growing economy is due to the low even negative interest rates during the whole 18 years. The fed pumped so much money into the economy that it had no choice but to grow. All both Obama and Trump only need to stay out of the way and not screw things up.
@GiantDuckFan read my post above. The groundwork for the expansion was laid at the end of Bush’s term. The fed is the real controlling factor and really has been since Paul Volker. The fault for the collapse lies on both sides. W spent money like a drunken democrat. The left pushed Fannie Mae, Freddy Mac and the banks to loosen their lending policies creating the huge bubble. The 2008 crash has many fathers....the recovery is on both too. Bush and Obama supported the Fed’s move which was important. Again the control of the money supply is the major factor in the condition of the economy.
I initially felt the same then recognized we're in the midst of an era of breaking tradition a la Trump. We love breaking from tradition when he does it but we can't have it both ways.
A while back, then President Obama was overseas and made foreign policy remarks following a summit,.. so the republicans trotted someone out in front of a camera, to give the "opposing opinion",.. that broke precedent,.. it used to be, doing anything like that while the President's out of the country was considered, out of bounds,.. especially foreign policy. The old agreements don't apply anymore.
Yeah nothing is out of bounds now, it seems. I don't foresee ca ca seeing it so objectively but figured I'd try.
Republicans = Democrats there is no real difference its a flipping game and we are the ones get screwed. Its no different than wrastlin. All you have to do to see it is look at the immigration debate, both of them want it to continue.
Also important to note that it was Bush's bank bailout that helped to stabilize the large banks and they were the ones who were largely responsible for the 2008 dump. Once things hit bottom in 2008, there wasn't much direction for things to go BUT up. In fact it was the $787 billion economic stimulus package approved by Congress that kicked off the upswing. Very Presidential, lol. The Feds also get credit for their emergency programs. Obama kept interest rates low but of course that led to all the disastrous real estate bubble-driven crashes. Big tech stocks really took off during Obama's term and that had nothing to do with him. Apple shares rose over 400%, Amazon 900%, and Facebook over 200%. That's corporate American leaders, not Obama.
This is simply not true. You stuck this in the middle of a good post. You can't blame him for something that had already happened.
Can't speak for the rest of the country but it's what happened out here. In 2013...."Just six years since the last housing bubble, California is blowing up another. This may seem like good news to homeowners and speculators alike but it could further accelerate the demise of the state's middle class and push more businesses out of the state....We are not seeing much new construction, particularly of single-family homes, so the supply is not being replenished as inventory sinks. Meanwhile, many of the homebuyers are not families seeking residences, but flippers, Wall Street types and foreign investors. A remarkable one-in-three Southern California home purchasers paid with cash, up from 27 percent from last year. It's clear that this increase is not being fueled primarily by income growth among middle-class Californians; these "prices are rising disconnected from household incomes," notes one analyst. Indeed, California incomes have been dropping somewhat more rapidly, down $2,600 per household from 2007-11, according to the American Community Survey, compared with a $200 drop nationwide. California incomes are still 13 percent higher than the national average, but a lot less so than in the past, particularly given the much higher costs and taxation. This leads to what is becoming the biggest problem facing the state – a decline in the rates of affordability. The previous bubble left us a legacy of more-affordable housing, an advantage we may now be losing. Historically, and in much of the country, the median multiple, which compares the median-price home to median household income, was in the three range. At the height of the previous bubble, the median multiple for the Los Angeles-Orange County metropolitan area, reached 11.5 in 2007, then fell to a still-elevated 5.7 in 2009, notes demographer Wendell Cox. It remained steady in 2011, but in just the past year the measurement has shot up to 6.2. A few more years at this rate, and housing affordability could worsen materially."
I agree with @mancha @uscvball. Obama had nothing to do with interest rates. That is the responsibility and power of the Fed. He gets no credit for the interest rate
