Black Wealth Cratered Under Obama

[Poitier]

Wait, who do you think appoints members of the Fed?

 

[David_TheMan]

Since when does the president tell the Fed what to do? I'd imagine you're googling right now. Might as well google all the articles of people hand wringing that if Yellen increases interest rates it could hurt Obama politically.


You don't know what you're talking about, do you. No offense.

US government always tells the Fed what to do.
You know that right?
Fed only has the authority that he government grants it, and they know that, its why they were created, to allow the political class to enrich itself but act like their hands are clean.

 

[Piff Perkins]

US government always tells the Fed what to do.
You know that right?
Fed only has the authority that he government grants it, and they know that, its why they were created, to allow the political class to enrich itself but act like their hands are clean.

The president does not tell the Fed to raise/lower interest rates, continue QE, etc. That's a fact. Obviously the president can appoint a Fed chair who agrees with a certain ideological view. For instance, would a republican appointed Fed chair recommend as much QE as a democrat appointed Fed chair? Probably not.

Even still, the stock market's rise can be directly attributed to the dollar's fall and the improvement of the US economy (and the housing bubble). Both of which would still happen even if Romney had won in 2012.

 

[Poitier]

Obviously the president can appoint a Fed chair who agrees with a certain ideological view.

are you saying that nonchalantly?

 

[David_TheMan]

The president does not tell the Fed to raise/lower interest rates, continue QE, etc. That's a fact. Obviously the president can appoint a Fed chair who agrees with a certain ideological view. For instance, would a republican appointed Fed chair recommend as much QE as a democrat appointed Fed chair? Probably not.

Even still, the stock market's rise can be directly attributed to the dollar's fall and the improvement of the US economy (and the housing bubble). Both of which would still happen even if Romney had won in 2012.

The Fed chair typically is the same ideologically regardless of party, should tell you something.

As for the supposed recession, read David Stockman's The Great Deformation, to see a glimpse of how politics plays a hand in guiding the Fed. If you want it let me know I'll post it for you

 

[MajorVitaman]

Wait, who do you think appoints members of the Fed?

It's duh Illuminati breh

The Fed chair typically is the same ideologically regardless of party, should tell you something.

As for the supposed recession, read David Stockman's The Great Deformation, to see a glimpse of how politics plays a hand in guiding the Fed. If you want it let me know I'll post it for you

Repped

 

[Bawon Samedi]

Featured.

God bless.

 

[Poitier]

Featured.

God bless.

You just sent out an SOS to all the Obama lapdogs bro

We war ready tho

 

[Black Panther]

Name one stimulus passed under Obama aimed at another race. This dumb shyt been repeated for years and no one can defend it.

The recession wiped out wealth. Wealth became recovering towards the end of his presidency. Traditionally black wealth grows alongside the country's growth. See: black wealth increased in the 90s (dot com bubble).

When the economy is doing good, everyone does well to some degree. Tell me, what pro-black policies did Bill Clinton implement lmao?

This.

The black community does not exist in a vacuum. It is part of the larger American society.

Bush era policies have more to do with the decline of black wealth than Obama era policies.

 

[Poitier]

It is part of the larger American society.

Yet every other demographic rebounded......yall cannot be this dense

 

[Geek Nasty]

Troll article. Wealth got wiped out by the recession. We're always the first hurt and the last to recover because that's how we're hired.

 

[Bawon Samedi]

This.

The black community does not exist in a vacuum. It is part of the larger American society.

Bush era policies have more to do with the decline of black wealth than Obama era policies.

lol. Going by you and @Piff Perkins logic. There should NOT be ANY economic GAPS among any groups in America yet there are...

 

[Poitier]

because that's how we're hired.

that self hate....gone make daddy proud

 

[villain]

And yet black people did better under him (economically) than under any other president or period.

Umm no Some of you nikkas really get on here and just make shyt up.

And yes, Obama's weak response to the financial crisis is partly responsible for such a steep decline in black wealth

 

[Harry B]

Except the blogger being an anti-everything type of internet troll, this was obviously caused by the recession.
I would rather see from 2011 to 2018 cause half of his term was basically just about getting the nation out of shyt.

U.S. Stock Ownership Down Among All but Older, Higher-Income
The Fed caused 93% of the entire stock market's move since 2008: Analysis

Whites far outpace Blacks in stock ownership and Obama inflated the stock markets and was a key cog in them regaining a lot of the wealth they lost.

Obama doesn't run the Fed son, never did never will.

The recession caused it but the lack of stimulus to the Black community that others received was an Obama decision.

Saving the auto-industry was saving black jobs, if he let it fail he would let a a major city that's 80% black lose its biggest black employers.
And if he let the financial industry, there would be no wealth at all.
And it wasn't even real stimulus but loans with significant interest rates; basically to serve as a signal that all the counterparties that everyone had cash. The only stimulus that was given was by letting banks fail, due to limited liability.