According to Elizabeth Warren, we’re heading for an economic crisis. She says we should believe her because she predicted the 2008 crash. If we take that second claim at her word, then that means she agreed with about 50 million Republicans who all said the same thing about the housing debt bubble.
It didn’t sneak up on this country. Anyone who paid attention saw the risk.
So, let’s recap what really happened in 2008. Bill Clinton and Congressional Democrats passed a bill in the 90s that required banks to approve mortgage that were risky. They’re typically called ‘subprime mortgages.’
Obama exasperated that renewing the bill and further pushing banks to lend to minorities, regardless of their ability to pay. That created a debt bubble that eventually popped in 2008. The entire crisis was ultimately engineered by the Democrats.
Now, let’s compare Warren’s latest claim. She says that the next crash is coming because of student loans. Well, why do we have a student loan bubble? You guessed it. In the 90s, Bill Clinton and Democrats passed legislation that required the government to back loans for any student who applied. Now we have a bubble.
Of course, Warren says she has a solution. But, seeing as how progressive she is, do we really trust her solution? You can watch this video to get a better idea. When CNN is ridiculing your ideas for being too far to the left, you know there’s a problem. See for yourself.
