Without one word of explanation, Harvard University econ professor Greg Mankiw posted the following graph to his blog:
I started to use my reasoning to understand just what this information on the graph means. Here are my conclusions based on my views of the facts over this time period. People become easily led once they are trained to believe appealing lies.
2008 to 2009
As the election of 2008 approached, it became clear that the media was in an all-out "Get The Democrat Elected" organizational campaign. They had to broadcast constant nonstop negativity on the war, the Republican incumbent and his political party, and drag the economy down to induce the voters to want "Change". They became very efficient at this propaganda and drove the markets off the economic cleft. They soured the public on one political party and made the nightly news broadcast full of bleeding soldiers in a "failed war".
2. After the election, the media and those they helped place in power. began to implement their agenda onto America. They demonized all opposition and discarded their views and arguments, no matter how based in fact they were, as worthless. They proclaimed common sense economics was the reason we were in the situation we found ourselves. All the while ignoring their own role in the last year of driving the faith in the market as well as the economy to all-time lows.
2009 to 2010
1. As people began loosing their homes, the media doubled down on the "Blame The Republican" propaganda. They all but ignored how Democrats such as Dodd and Frank had forced Banks to make bad loans. The media began to try to re-write history to help Obama get more and more of his agenda shoved onto America. They had to make America think it was Banks that caused the problem because of their greed. They have all but hid the truth that due to the Community Reinvestment Act of 1977, passed by Democrats and signed by Carter, was the real cause for the bad loans. The in 1995, under Democrats and Clinton, the CRA regulations were substantially revised forcing Banks to make bad loans. As Banks wanted to merge or expand into other types of financial institutions, insured any bank holding institution wishing to be re-designated as a financial holding institution by the Board of Governors of the Federal Reserve System would have to follow Community Reinvestment Act compliance guidelines before any merger or expansion could take effect. Forcing Banks to make bad loans became the goal of the Democrats. But the media had to re-write history to hid this simple truth.
2. As Unemployment began to rise due to the poisoning of the markets and economy, the chant to “Blame Bush” was all that the elite political class and major media were willing to tell the public. They told Americans they had the solution with massive spending and increased unemployment benefits. Making many Americans dependent on the government’s handouts. But the people were beginning to see through the lies of the major media because of a grass roots movement called the Tea Party.
2010 to 2011
1. After Congress forced Nationalized Healthcare onto the nation through close door meetings and back room bribes, it caused the people to rise up as the Tea Party to begin in getting the truth out. This was done as Democrats and their media lap dogs attacked and attempted to marginalize it. The sweeping elections gave the Republicans a chance to redeem themselves and they took control of the House.
2. The massive spending was impossible to stop as much of it had been put in place by the previously controlled Democrat House. Because it became impossible for the business sector to know what expenses would be, they simply chose a wait and see approach to the economy. Banks having been so burned by forced government regulations requiring them to make bad loans simply stopped loaning to almost anyone.
2011 to 2012
1. Congress came to a halt. The media painted a picture that it was once again the obstruction of the Republicans in the House but the real truth was that Reid and his fellow Democrats in the Senate all but closed doors and shuttered the windows in an attempt to ignore almost all legislation coming from the House. The Democrats refused to debate much less pass a budget for the last 1100 days. They refused to allow to the floor over 150 job producing bill from the House as they protected the agenda they had shoved onto America the first two years when they had total control of government. All the Democrats want to do is increase the debt and spend like drunken sailors.
2. The media were so good at destroying the economy that it never recovered. Even in the so called “Recovery” Obama and the media talked about since 2010, the economy has all but died.
Those responsible, the Progressive Democrats, have more excuse then carter has pills for the economic failure and stagnation the nation has faced. They still try the lies we should blame Bush because they have nothing else. The Democrat Progressive agenda was one of destruction. The results are clear to see and no matter how you try to rewrite history it will never be changed. Socialism has failed everywhere it has been tried… even here in America.