AT"  My goodness, it seems you forgot that little skirmish called the "invasion and destruction of Iraq."  I believe GW Bush was the President in 2003 and, again if memory serves me correctly, his Administration lied to Congress and the public and gain approval for the War.  The War, of course, destroyed Iraq, devestated all infrastructure, left no functioning government at any level (remember deBaathification) and created the power vacuum which has led directly to radical Moslim terrorist groups have have culminated in ISIS.  Oh, yes, as you say "nothing dramatic" 

Additionally, BTW, lack of governmental oversight, the policy of the Bush Administration, was the key factor contributing to the unsound economic boom which led to what you call "the mortgage thing."

"good times come and good times go."   Ok, I'll buy that, but add that the decisions, policies and actions of the American President play a significant role in determining whether those are "good times" or "bad times."