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#11
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Quote:
This is almost exactly the way I look at it except that there is more than the plan to be pessimistic about. I would have to believe our foreign affairs situation has also played somewhat of a role. I would also note that most of the other major economies are going through very close to the same thing we are. With Great Britian taking to a plan that is very Obama like before Obama. And with lots of foreign economists sneering at us for thinking the free market would take care of itself. And Greenspan apologizing for his role in believing too much in this. Finally. The Bush adm. watched the market take its largest plunges. This must also be explained. This did not start because of over regulation and not because Barney Frank insisting mortage companies give bad deal loans to poor people. |