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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (458803)2/23/2009 1:48:34 PM
From: TimF  Read Replies (1) of 1573988
 
He is also on the hook for the current condition of the economy

Partially on the hook. To the extent its a government issue, you have to consider congress, and past congresses, and past presidents. This problem has been a long time in the making.

And of course you have to consider all the private sector as well. Government certainly contributed to the problem, but it didn't create it out of nothing. It provided distorted even perverse incentives, which made it worse, but there is a good chance we would have had some sort of bubble anyway, the private sector can do that all by itself. And is particularly likely to do so when the fed (part of government) pumps up the money supply too much.
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