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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Lizzie Tudor who wrote (138589)9/25/2008 3:36:30 PM
From: Kevin Rose  Read Replies (2) of 173976
 
I don't disagree with your analysis. I just think those were downstream issues. Without the manipulation of interest rates, none of the downstream excesses would have been possible. It was the fuel in the rocket that exploded.

Now, when you're talking dollar policy and interest rates, those are somewhat sibling issues. When the Bush administration took the conservative hands-off dollar policy, that locked them into the low interest rate policy, which formed a fiscal feedback loop. As the dollar dropped, they were forced to keep interest rates low to mask the real effect on the economy. Which fed the whole mess.

But, if we get too distracted into thinking this problem was caused by lack of oversight, we lose sight of the real causes - conservative free market crap that has been hurting this country for more than a decade. I guess we didn't learn from deregulation of telecom or energy...
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