"While there is no question that Reagan’s economy rebounded with a greater fury and in a far shorter time frame than what Obama has been able to accomplish, the circumstances of Reagan’s recession were such that such a rebound was possible while all signs would indicate that such a result was not truly available to the current occupant of 1600 Pennsylvania Avenue. Thus, to seek to draw conclusions as to which president had the better idea is a failed enterprise given the extreme differences in their relative circumstances."
Sorry, but that's bullshit. Every time any sort of regulation is imposed on financial institutions, bankers get all teary-eyed and invoke the fictional "struggling small business owner that cannot get a loan".
The truth is that the financial system is awash with cheap money as interest rates are extremely low, even for the fictional "struggling small business owner" (see chart below).
To illustrate the levels of self delusion, Jamie Dimon called the abolition of Tier III bank capital (aka made up capital plucked out of thin air) "un-american" (!)
Spoken like someone who has never even owned a lemonaid stand. It's far from bullshit my friend. Simply because interest rates are low you make the assumption that it's easy to get a loan. There are many things that the banks look for (according to my banker friend) that they were able to ignore prior to Obama's reign of terror. Many hoops to jump through.
I really hesitate to engage you in conversaton as it seems to go back and forth an average of 567 times with insessant repeatition. You have more time on your hands than I do Ha...
But, I agree correction is a good thing. Overcorrection is a very bad thing and that's what Obama did. I live with this stuff and you don't. You have to trust me buddy it is so much harder to operate today than it was before Obama's 8 years in office.
Look the guy has a great smile and is very charasmatic. But between the regulation and taxes he reached right into my life and made it far more difficult than it has to be.
Seems to me it would be very, very difficult to say with certainty whether Obama overcorrected vs undercorrected vs corrected 'just right,' so I'm not sure how you can make such a claim with such certainty.
You mean the idea that he's going to require providers of cash remittances from the U.S. to Mexico to show proof of legal residence, thereby cutting of those cash remittances from illegal immigrants?
He's also said that we're going to deport all of the illegal immigrants.
These seem to be fundamentally contradictory positions, no? If we're going to deport all of those people back to Mexico, doesn't the threat of stopping their cash remittances become a pretty hollow threat, since they're already back in Mexico?
No, spoken like someone who used to own a financial consulting company.
Those "hoops" your banker "friend" is referring to are simple steps of the credit underwriting process designed to determine whether there is a significant probability that you can actually pay back that loan.
There simply isn't a case where one needs funds and the regulation instituted by the evil liberal cabal prevents them from getting them. As I've stated before, cheap funds are available to everyone. Literally, everyone.
I'm sure most of those bankers are missing the good old days before the 2008 crash.
If you want I can elaborate on specific points in more detail.