[TheRealThing]

Many observers have blamed Bush's defeat on his reneging on his 1988 campaign pledge to refrain from raising taxes. However, the most important factor in Bush's defeat was discontent with the state of the nation's economy. The sluggish recovery from the 1990-91 recession created an anti-incumbency mood that Bush proved unable to overcome. The importance of economic conditions in the 1992 presidential election was famously summed up by Clinton campaign adviser James Carville's quip that "it's the economy, stupid."The recession of the early 1990s lasted from July 1990 to March 1991. It was the largest recession since that of the early 1980s and contributed to George H.W. Bush's re-election defeat in 1992. Although mainly attributable to the workings of the business cycle and restrictive monetary policy, the 1990-91 recession demonstrated the growing importance of financial markets to the American and world economies.

DESCRIPTION:

From November 1982 to July 1990 the U.S. economy experienced robust growth, modest unemployment, and low inflation. The "Reagan boom" rested on shaky foundations, however, and as the 1980s progressed signs of trouble began to mount. On October 19, 1987 stock markets around the world crashed. In the U.S. the Dow Jones Industrial Average lost over 22% of its value. Although the causes of "Black Monday" were complex, many saw the crash as a sign that investors were worried about the inflation that might result from large U.S. budget deficits. The American housing market presented another sign of weakness, as in the second half of the 1980s a large number of savings and loan associations (private banks that specialized in home mortgages) went bankrupt. The collapse of the S&L industry negatively impacted the welfare of many American households and precipitated a large government bailout that placed further strain on the budget.

Although the 1987 stock market crash and the S&L crisis were separate phenomena, they demonstrated the growing importance of financial markets—and associated public and private sector debt—to the workings of the American economy. Other causes of the early 1990s recession included moves by the U.S. Federal Reserve to raise interest rates in the late 1980s and Iraq's invasion of Kuwait in the summer of 1990. The latter drove up the world price of oil, decreased consumer confidence, and exacerbated the downturn that was already underway.

Yes Donald has inherited the best economy of any other president in my lifetime

9 days and still no proof of obamagate

I hadn't finished reading the first sentence when I realized there was no way you wrote this^^

Here's what you did; You went to the following website (link provided) , "The Jivewired Journal" http://blog.jivewired.com/2014/11/friday...-1992.html and lifted the first part of your post which I highlighted (in purple)

Then you went to another website (link provided) , http://vm136.lib.berkeley.edu/BANC/ROHO/...ssion.html where you lifted the remainder of the blather you posted, at which point you made a crude and obvious attempt to piecemeal together something you plagiarized from two separate authors. Both websites are filled with the absurdly leftist ravings of Keynesian economic lunatics. The University of California, Berkeley uses this kind of drivel to indoctrinate their students to the liberal view, and Jivewired, is just a bunch of Rock n Roll groupies who like to think they are political pundits. But aside from the extreme bias of your sources, we're still left with the fact that not the first word of it is yours.

But you make my point when you say you've been around since Kennedy; And yet somehow though you lived through the Reagan Era, you choose to deny what you saw with your own two eyes. Bill Clinton is the one who inherited a strong economy from Ronald Reagan. Trump got what he said he got, a mess. But I know down there at the hall, they all hate Republicans and you're just not about to allow the facts or even the things you've lived through to sway your opinion. :Thumbs: