Quote:
Originally Posted by Robbie
That is totally false.
The economy was doing great. The HOUSING MARKET collapsed in 2008 (September of 2008 to be precise...I know it all too well because that's when I fucked up and bought my house...the next week it was worth half of what I had just signed on for).
That created a HUGE loss of wealth instantly. Banks holding billions of dollars in mortgages now had negative equity across the board.
That is why the economy instantly nose-dived Rochard.
But you've already been told that over and over (because you apparently didn't "get it" when it happened)...so why on Earth do you keep making yourself look so bad by making statements like that?
Jesus...if you want to bitch about stuff, do it honestly.
Yes...our Federal Govt. made a horrible miscalculation (because they MEDDLED in the economy) in the late 1990's.
That led to a housing "bubble". Banks were free to loan money to folks wanting to own their own home.
Then, when the housing market crashed...all the people who had houses found themselves underwater instantly. The banks pulled back capital from the market place (making it almost impossible for business to meet payroll) and that led to unemployment almost overnight.
Dude...come the fuck on! This is simple stuff to understand. Why do you keep making posts that pretend you haven't already learned this information?
I don't know what world you were living in in 2004, 2005, 2006 and 2007...but those were some of the biggest revenue years of my entire career. And you can ask anyone else in our business how much money they were making during that time and you'll get the same answers.
Shit dropped to the ground in Sept. of 2008.
Do you not have any memory at all? Damn...
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You are trying to say the economy was great, but it was the housing market that crashed and caused "instant wealth". Well, yes. We know exactly what caused the housing market. The years 2004, 2005, 2006 and 2007 were my best years too.... But no matter what, the economy crashed. What caused it was the housing market.
I understand what happened. I understood exactly what happened.
What I don't understand is when our unemployment started off at 12% and dropped to 4%, people were talking about how bad things are. We had 76 six months of continued growth but things were bad, and now we have a new President and on the 77th month everything is magically fixed?
Drumpf has not done a damn thing to the economy. Not. One. Damn. Thing.
Nothing at all has changed. This is the same exact pattern we've been seeing for years. But people like Baddog are like "Wow, the numbers are great". It's exactly the same numbers we saw in November but suddenly these numbers are great.
Where are all of the GFYers that want to argue about the "real unemployment rate"? LOL.
Here is my point Robbie.... We had a 4.6% unemployment rate at the end of Obama's term, but people said "Oh the economy is horrible". We have a 4.6% unemployment rate the first month of Trump's term and people are like "Oh my, Trump is going good". Nothing changed. Nothing at all changed. We are still running on Obama'a rule - the budgets and plans passed under Obama. This will continue for the next year too. Let's see what happens when Trump puts a new budget in place. Let's see where we stand two or four years from now.