Wingnut Econ through the years

So, as of Tuesday's close, the Dow is lower than on the day George Bush took office in 2001.

I doubt any of our conservative interlocutors from 2004-5 are still reading this blog, but just in case any of them are, I'd like to go into the wayback machine and recall that, throughout the Bush presidency these folks made the claim that Bush had turned the economy around through his two-pronged approach of tax cuts and prayer.

Liberals argued that the ballyhooed recovery, such as it was, was only benefiting the Americans whose personal fortunes put them at the very top end of the economic scale. And, more to the current point, we pointed out that recovery wasn't based on strong fundamentals, but instead was a phantasmal recovery based on a fairly disturbing housing bubble.

Wingnut economists and bloggers, while occasionally acknowledging the housing bubble, refused to believe that this was the engine of their pseudo-recovery. And here we are, when the whole thing has predictably melted down, the market is back where we started, and things are looking grim. And the wingnut response?

Yep, you got it. Blame Democrats for the housing bubble.