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Originally Posted by sarramkrop
Just in case you might have not noticed, the world economical cycle moves regardless of who is in charge of this or that.
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Yes, that's certainly a predominant theory of how things would occur if governments did not spend so much time manipulating fiscal and monetary policies.
I can forgive you since you may not be familiar with the Fed system in the US, but you should realize that what the Fed tries to do with monetary policy is to put off or ease the pain of those cycles - something that cannot be done in the long run, no matter how much you play with interest rates. Eventually the cycles have to occur, and because of all the interest rate game playing from the Fed it's possible that this correction will be a lot more painful than the one we should have gone through several years ago.
As far as who the president is, I'd agree that that has a much less significant effect on recessions and booms than what the Fed - an independent agency - is doing.