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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: pstuartb who wrote (304910)3/18/2011 10:54:58 AM
From: bentwayRead Replies (1) of 306849
 
Oh, I don't think the very slight recession that Bush inherited had any chance of becoming a Great Depression. The tech bust that caused it affected too small a portion of the economy. It was a run of the mill recession, and a very small one at that.

I DO think that his rigid, ideological (R) view of government regulation, that is that, markets can regulate THEMSELVES, is what ultimately led to the collapse of the global economy at the end of his second term. Alan Greenspan ADMITTED that this life-long belief of his had FAILED - markets had FAILED to "regulate themselves"!

All through his presidency, he appointed people FROM the industries being regulated to "regulate" those industries, instructed them to do NOTHING, sit on their thumbs, and, if they absolutely HAD to do something, use their positions to grease the wheels for the businesses being "regulated"!
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