A Response To “Obama Takes Populist Swing”
27 March 2012
hahaha how convenient that bush apologists always end his term in 2006. as if the policies before that had nothing to do with what happened from 2006-2009 (mind you pre-obama). almost all job gains that occurred from 2001-2006 were tied in one way or another to the real estate estate market. coincidentally all the jobs lost and more from 2006-2009 were lost in areas tied to the real estate market and the resulting de-leveraging of 30 years of debt, of which most was accumulated from 2001-2006. low and behold the new jobs created during the bush administration was ~ 1mln. wow 1 mln in 8 years and if you take into account the 800k/month lost that resulted in the 2007-2009 as a result of policies while bush was president there were no job gains. those who shorted the subprime market and bank stocks in general placed their shorts between 2004-2006 because it was clear to them what was happening. the cracks were showing that early. 50% of the bush tax cuts went to the top 1% of the population. a system in which a disproportionate amount of the productivity gains goes to a select few, and especially on a consumer oriented economy, is totally unsustainable. all those tax cuts lead to massive speculation and inequality.