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Politics : Bush Administration's Media Manipulation--MediaGate?
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To: Proud_Infidel who wrote (5137)9/20/2005 6:22:57 PM
From: American Spirit  Read Replies (1) of 9838
 
Black unemployment is way up under Bush, particularly for young black males, so is poverty. While good jobs with health care coverage are way down. Health, energy and education costs have soared. This hits the most vulnerable Americans the most.

The "home ownership" you are talking about sounds like a very good thing, and can be, but sadly, poorer borrowers get the worst rates and may soon be losing their homes as the housing bubble bursts. So what you are really talking about is poor blacks putting everything they have into homes they can't afford, only to lose them to Bush's pals, the banks. There are hundreds of thousands of ARM only adjustable loans with low downpayments. Those are the people who are going to lose soon.

Also, Bush was definitely helped by Greenspan's outrageously low interest rates. Going down to 1% for the first time since the Eisenhower years was great, but outrageous. The government was borrowing and spending like never before so Greenspan was not obeying the laws of economics. He seemed to have been doing the Bushies a huge favor, flooding the market with cheap devalued dollars. The housing market has not hit its ceiling. From here, it goes down.
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