Before the housing crisis of 2008 financial firms, low interest rates, & steadily increasing home prices convinced many people to take out loans with incomprehensible terms and/or other unadvisable mortgages & home equity loans. When the crash came (due to Wall Streets fraudulent repackaging & marketing of these “financia…
Before the housing crisis of 2008 financial firms, low interest rates, & steadily increasing home prices convinced many people to take out loans with incomprehensible terms and/or other unadvisable mortgages & home equity loans. When the crash came (due to Wall Streets fraudulent repackaging & marketing of these “financial products”), too many people not only lost their home, they lost their nest egg as well as access to the mortgage market.
The dollar was also cheap, setting the stage for wealthy foreigners and financial firms (all flush with cash) to move into a “buyers market”. Deep pockets & cash bids meant these buyers could outbid individual American buyers.
Repubs led the objections to bailing out Americans after the crash, but “Centrist” Dems (in particular Laurence Summers!) played their part in aiding only the banks.
The “media” advised individuals to be fiscally prudent & Repubs convinced the country that it was all Obama’s fault if they had been forgotten.
For a long time many individuals were frozen out of the mortgage market as the banks no longer wanted to finance home buying.
Ugh, Larry Summers, the Democrats "economic adviser" a swamp creature if ever there was one, after creating a mess for Obama, Biden chose him to head up his economic policy team, this is a problem with presidents, the people elect them on the basis of charisma, social policy, and which side of the culture war they are on.
Americans don't give a rats a about GDP, or economic policy, especially if they have jobs and have some excess money in the bank. However they are full of fear, anger, angst, hatred when it comes to culture, especially minority culture.
Stupid Democrats never got that message, or if they heard it, being hide bound old line conservatives they stick their fingers in the ears, because are stuck with the old tired Clinton Line" It's the economy stupid", but it wasn't the economy that brought Trump and the Republicans to power, it was the culture war, and it still is, and the Dems are stuck in the bubble of the 80's and 90's.
Big money is where the donor cash is, and it also controls the media (there is no liberal media, that is a right wing myth, any media that is not sufficiently white nationalist, racist and religious is considered liberal. End stop, and that includes MSNBC, that hires some token hosts and journalist, that they can then ignore the culture warriors funded by the mega rich
There are a lot of pro's in the democratic party, Paul Begala and James Carville come immediately to mind, they are ideological as my refrigerator, what they are is smart enough to know who their benefactors are.. corporations and the mega rich.
You see this all of the time, with well known democrats sensing the center of political gravity, and becoming Republicans or Independents.
More background:
Before the housing crisis of 2008 financial firms, low interest rates, & steadily increasing home prices convinced many people to take out loans with incomprehensible terms and/or other unadvisable mortgages & home equity loans. When the crash came (due to Wall Streets fraudulent repackaging & marketing of these “financial products”), too many people not only lost their home, they lost their nest egg as well as access to the mortgage market.
The dollar was also cheap, setting the stage for wealthy foreigners and financial firms (all flush with cash) to move into a “buyers market”. Deep pockets & cash bids meant these buyers could outbid individual American buyers.
Repubs led the objections to bailing out Americans after the crash, but “Centrist” Dems (in particular Laurence Summers!) played their part in aiding only the banks.
The “media” advised individuals to be fiscally prudent & Repubs convinced the country that it was all Obama’s fault if they had been forgotten.
For a long time many individuals were frozen out of the mortgage market as the banks no longer wanted to finance home buying.
Ugh, Larry Summers, the Democrats "economic adviser" a swamp creature if ever there was one, after creating a mess for Obama, Biden chose him to head up his economic policy team, this is a problem with presidents, the people elect them on the basis of charisma, social policy, and which side of the culture war they are on.
Americans don't give a rats a about GDP, or economic policy, especially if they have jobs and have some excess money in the bank. However they are full of fear, anger, angst, hatred when it comes to culture, especially minority culture.
Stupid Democrats never got that message, or if they heard it, being hide bound old line conservatives they stick their fingers in the ears, because are stuck with the old tired Clinton Line" It's the economy stupid", but it wasn't the economy that brought Trump and the Republicans to power, it was the culture war, and it still is, and the Dems are stuck in the bubble of the 80's and 90's.
Dems are stuck with trying to appeal to the “centrists”, even though “centrist” really means businesses/corporations.
The media already considers progressive Dems to be (East German style) socialists (all while cozying up to Putin!)
Big money is where the donor cash is, and it also controls the media (there is no liberal media, that is a right wing myth, any media that is not sufficiently white nationalist, racist and religious is considered liberal. End stop, and that includes MSNBC, that hires some token hosts and journalist, that they can then ignore the culture warriors funded by the mega rich
There are a lot of pro's in the democratic party, Paul Begala and James Carville come immediately to mind, they are ideological as my refrigerator, what they are is smart enough to know who their benefactors are.. corporations and the mega rich.
You see this all of the time, with well known democrats sensing the center of political gravity, and becoming Republicans or Independents.