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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (104983)	2/14/2008 11:44:06 AM
From: Smiling Bob	Respond to of 306849

Better yet, explain who threw gasoline on the embers. Being that the real damage was done during the current administration, we'll have to give them the full credit Ditto for 9-11 and Iraq

To: Hawkmoon who wrote (104983)	2/14/2008 11:47:20 AM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

Look, you need to evaluate the big picture and then common sense dictates where the fault lies. In 2002 the US job market was collapsing, prior to that we had created 350K jobs/mo with RISING incomes for all, 911 (and even more importantly, Bush administration political profiteering from it creating a climate of fear), meant there would be NO uptick in the jobs market soon. Bush unveiled the "ownership society" where he went around with a bunch of subprime borrowers touting home ownership "for all". In 02-05, buying overpriced houses was Bush's ENTIRE economic strategy, compined with deficit spending. that was it. Do I think Bush intentionally spent us into this hole and ruined any prospect for republicans for the next 10+ years? No. I think Bush is too stupid to know what caused the prior bubble (optimism and fiscal control), and instead thought the surplus was something we were going to regenerate AT WILL, and therefore decided to dole it out to his buddies. By the time the reality hit home that we were back in the 70s, it was too late. The money was gone and we were in an unwinnable war. What was left for the idiot prince? HOME OWNERSHIP. That was it.