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- #21
America is coming back after the worst economic disaster, created by Bush and the far right wing of the GOP, in eighty years.
No more neo-conservatism, no more free-wheeling businesses.
Jake, the meltdown wasn't created overnight, it wasn't just a "Bush did it" thing. The meltdown was decades in the making and cultural in its DNA. It was a massive building of torque within our financial system, fed by virtually all of us, that had to break at some point.
It was a little more complicated than something we can just blame on one specific group of people, especially to make some kind of political statement.
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In fact the meltdown was in my opinion a 100% self inflected wound by the free market. Loaning people wealth who could not pay it back put so many in a place (BofA Lehman etc...) that they had no cash, just junk assets
No-one really in Washington did anything to cause that no matter what Jake says
cash is king and it takes cash to pay your bills
AIG went from 1700 a share to 1.00 a share in weeks
Thankfully W and congress had enough sense to stop the bleeding
if not holy shit what a mess
These trying times we face today have had time to mend. there is no plan and all of the focus post crash was on O-Care, not Job-care