No, not good at all. However, he was a scapegoat for many things that simpletons credit him with. For instance, only the dimmest mouth-breathers can blame him for the subprime crisis.
I don't like him for excessive Iraq intervention, the creation of No Child Left Behind (fortunately it was so under-funded that it may as well have never existed) and the introduction of "too big to fail" in our vocabularies.
Anyone who buys a house they cannot afford with a down payment that hardly exists from a bank that has no business providing a loan - and blames the president - doesn't deserve to have a thing. Stupidity should never go unrewarded.
It's a damn shame about all the nutball shooters lately, isn't it? THANKS OBAMA!
In 2001 there was a small crisis. The response of the politicians was to reduce interest rates from 5-6% to 1% and implement tax cuts. They wanted to make the crisis as small as possible. That was a really bad idea and only worked short term. The new liquidity caused property prices to skyrocket. In fact a lot of people bought expensive properties, because they expected property prices to keep rising.
That was mistake #1. By 2005 it was very clear what is happening and it did not look pretty. Even Alan Greenspan realized US had a problem and started to increase interest rates. At that time Bush could have gone out and said we are risking an economic crisis and we need to do something. Instead he totally ignored the whole problem and just hoped it won't crash under his presidency. It was his responsibility to lead the US, and he failed.
Of course we don't get the whole story with just a chart, but I never claim I was trying to show the whole story. If I was going to write about the economic crisis I would need lots of charts and lots of writing and none of you would bother to read it.
Last edited by Camlon; 06-10-14 at 02:56 PM.
“To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn
"...with the terrorists, you have to take out their families." - Donald Trump