Monday, January 7, 2013 6:08:32 AM
I'm not so fond of people who have such one-dimensional analysis as to think that Bush single-handedly caused the housing crisis and destroyed the economy. Well that`s pretty much what the right has always accused Obama of, so I guess what`s good for the goose is good for the gander.
Monday, January 7, 2013 6:07:22 AM
Seriously? We're talking about the inevitable bubble here. That`s not necessarily accurate. The commission appointed to analyze the causes of the crisis found that "the crisis was avoidable and was caused by: Widespread failures in financial regulation, including the Federal Reserveâ€™s failure to stem the tide of toxic mortgages; Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels."
Sunday, January 6, 2013 8:53:34 PM
And I must say, I'm not so fond of people who have such one-dimensional analysis as to think that Bush single-handedly caused the housing crisis and destroyed the economy. Surely, I am no fan of him. I am a fan of intellectual honesty, however.
You really think that the housing crisis would not have happened if John Kerry had got elected??? Seriously? We`re talking about the inevitable bubble here. The one that arose from the ashes of the previous dot.com bubble. Right, we would`ve been booming if John Kerry got elected. Europe would be stellar. No wars, either. Totally.
Sunday, January 6, 2013 8:50:34 PM
tedgp, it's debt of gdp. That means that you can incure more debt, but the ratio doesn`t have to increase if the economy is growing.
As for the whole Obama "two wars" thing, this is the weirdest thing I hear. We have 16.5 trillion now. If we take all the Iraq war money away, we would be 15.7 trillion in debt. Moreover, basically all that money was spent before Obama. I`m telling you honestly, you all focus a little too much on that one spending item that was, yes, a bad idea.
But all in all, this graph tells a great story. However, not very much by itself. Still, how is it not interesting? This is just raw, statistical data. It has no bias.